of exxonmobil, largest company in the world. in terms of market capitalization. thank you for injoing us. see you next time captioning sponsored by rose communications captioned by media access group at wgbh access.wgbh.org >>> this is "nightly business report" with tyler mathisen and susie gharib. >>> make it three straight all-time highs for the dow, fuelled today by optimism in the job market. >>> how's the consumer feeling these days? we'll find out as we go in focus on the american recovery. >>> and i ask the ceo of general motors if people are feeling the mood to buy. >>> and the threat of hackers is engaging economic engine, small business, and that could lead to even bigger problems. >>> hello, everybody, and we welcome public television viewers from all across the country to "nightly business report." thank you very much for joining us. susie, today it was all about jobs. >> it sure was, tyler, and that's where we begin tonight, with encouraging news about jobs. that news gave a boost to the market and led the dow to another all-time high. nasdaq added t

of exxonmobil, largest company in the world. in terms of market capitalization. thank you for injoing us. see you next time captioning sponsored by rose communications captioned by media access group at wgbh access.wgbh.org [applause] [instrumental]

exxonmobil is the name. four decades of outperformance.ng story, but it's disciplined execution always wins. 6% annualized dividend increases over 30 years. if it gets cheaper, unless the rest of the world is willing to freeze to death in the dark, you want to own exxonmobil, because so far it's a product that none of us have figured out how to live without. it's best in the industry, chased by all its peers. they're typically ahead of the curve, stock has been weak, wouldn't mind buying it in here if the opportunity opened itself. >> michael lasser, what do you like? >> bill, i like home depot. you'otot to buy it here. three reasons, first, we're still in the early stages of the housing recovery. this company is going to see a ton of leverage, as the cycle unfolds. second, they're generously returning capital back to shareholders. they'll buy back 5% of their stock this year, raise their leverage ratio, so it's probably going to be higher than that. and third, here's the deep, dark secret. they're investing as they get this windfall. so w

exxonmobil will invest $190 billion in exploration and development over the next five years.will begin producing on 28 oil and gas projects during at that time. exxon says its new projects will produce an estimated one billion barrels of oil a day. >>> next on "money", finally minimum wage debate worth listening to. we have two business executives on opposite sides. they will explain how paying more will really affect their profits and their bottom line. you want to hear this o. >>> plus, businesses are swimming in pools of money while the masses struggle to find a job. at least that's what the "new york times" wants you to think. a it piece against corporate profits, completely misses the mark. we're going to explain why. you only -- "piles of money" coming up. ♪ . ♪ . melissa: you might never think you're getting a clear picture of it. talking about the issue of raising the minimum wage which political pundits argue about ad newseum. right now you're in the right place because you're getting a conversation everyone should hear with two top corporate executives on opposite s

widely held stocks in different parts of the economy, apple,pl caterpillar, ge, kraft foods, exxonmobil all advanced. >> qualcomm is raising their dividend by 40% and beginning a new stock repurchase plan. investors responded to that dividend news. the stock up 2% on the day. qualcomm benefiting, of course from strong demand from consumers for those cell phones whose chips they power. >>> sears holding chief bought 1.2 million shares in his company according to a filing. he paid $44.36 a share. sears reported higher than expected earnings last week helped by cost cuts and the stock was up sharply today better than by 5%. legg mason fighting back from a holiday quarter loss. it will trim the number of funds it offers and reduce office space. investors responded favorably. the stock up almost 3%. citigroup ceo told investors at a conference in boston that the bank has identified at least 21 markets where it's got to make improvements or just get out. he also set profit targets 3015 of 10% on tangible common equity with 7.9% earned last year. investors reacted very positively to the goals.

at&t, pfizer, and exxonmobil had sizable buybacks during the quarter, and all of them are down today, as you see. >>> our market monitor guest tonight has upped the stock allocation in client portfolios to 65%. the rest is in bonds and cash. he is mark lucchini. make a case, mark, about why this is a time to buy stocks. a lot of our viewers are still very fearful of this stock market rally. >> well, i understand that, susie, and it's unfortunate, because the fact of the matter is the fundamental underpinnings for companies today is still very attractive, even as share prices have moved up as high as they have of recent. i think that's because economic activity is continuing to show signs of improvement. and i think that lays a fertile environment for profits to continue to grow. not at a terrific pace, but to grow nonetheless. that should lead to stock prices to continue to advance, particularly amongst investigators looking for capital growth and seeking income. many dividend stocks are a much more attractive alternative to low yielding bonds and certainly cash. >> let's look at some

to put it in procter & gamble, mcdonald's, exxonmobil.ut i would rather have my money in procter & gamble then in ten-year treasury. gerri: mark and rc, good job, i feel limited. all you did not make me feel all that much better about what is going on. thank you so much. well, now we want to know what yo think. here is our question tonight, is this bull run for real? i will have the results at the end of tonight's show. and this bull run began in 2009, believe it or not four years old. around the average duration of bull markets since 1929, but it certainly is not the longest. looking at the s&p 500, that list is tonight's top five. number five started in 1982 also followed a recession and lasted exactly five years and was famously brought to an end with black money when the s&p lost more than 20% of its value. number four, the last bull run in 2002 lasted five years ending with a great recession and the financial crisisn december of 2007. number three started back in 1974 as the federal reserve raised interest rates, stagflation happened

subsidize -- somehow we're subsidizing this oil to the tune of 500 biz a year despite the fact that exxonmobiln the first quarter paid $24 billion in taxes. somehow his is going to level the playing field. we can take that money andite in -- >> neil: but it's on, on the americans. >> everyone in the world but. >> neil: we have a disproportionate share because they argue we pay the least when it comes to the price of gasoline per gallon. but bottom line is it's less, and we should pay more because we contribute more to the world's mess. >> help me figure this statement out. you don't want to overconsumption based on getting michigan for less than it costs and forcing someone else to pay? how stupid -- >> neil: the franchise tax. >> no one is forcing anybody to pay for anything but the fact is the poorer people in the world that are suffering, by the way, 1.40 extra fees, 1.78 per gallon and that would make everything okay. >> neil: china and india are part of this, the world's largest produce contributors. >> china and india have to be snickering, let them tax themselves to death. every single

exxonmobil, however, they got a shindig on wednesday, and i have to say i'm worried about this. exxon has been unable it grow production at levels acceptable it many oil and gas investors and that's the key metric for oil and gas. at the same time, they are an ultra conservative company. why does that matter? because oil has been breaking down here. i don't expect exxon to say anything that could reverse the trend. they might see good news in natural gas but remember exxon does not believe that natural gas is going to be a major surface vehicle fuel. effects, by the way, i think they can transform the american trucking industry overnight by providing natural gas engines, but don't count on their support. the biggest news, next week, comes on friday. when we get the labor department's february employment report, payroll report, 8:30. one of the themes about this hose historic front is that they will have to take away the bond program. the bond issues that help keeps interest rates low that support stocks. i cannot tell you how many countless dollars have been left on the table by

industry official says, this will affect all of the major refining companies, exxonmobil, bp, chevrone republicans are upset about this. they say it is bad for the economy right now. they're planning to review it. critics and supporters battled over the economic impact. >> i'm doubtful that the rule would every be justified as on a cost benefit basis. that the actual benefits in public health outweigh the costs that imposed on the economy. >> this is kind of a game that people play in d.c. where, if you don't want to embark upon the required, necessary, investments in refining and infrastructure, you paint a doom and gloom scenario that, it is in excess of the what the actual costs are going to be. >> once the new rules are likely approved. they would take effect in 2017. david and liz? liz: we some time. thank you. david: for now, thank you very much, peter, have a good weekend. when you think of dividend stocks, most investors immediately think of big players like johnson & johnson. but now some of the smaller cap stocks have been getting into the game as well. what firms will most

>> and if he said, if i'm going to be taken out by somebody, i want it to be someone weird like exxonmobil>>> so between ron johnson of jc penney and andrew mason of groupon, what is up with the corner office? should i stay, should i go? difficult decisions, what do you make of all of this? >> mandy, sounded like you were singing the old clash song "should i stay or should i go." there was this tension. by the way, it was exciting to hear robert frank say, it is just money, what should that matter pch. though that is tongue in cheek. well never hear that again. circle the wallons. politics are on the board. they keep them there way too long. we've seen it with chesapeake energy with mcclendon just stepping down. speculating how much time is left for ron johnson. as anthony mason we talked about. jarold, a private company. toys "r" us, the guy is wilting on the vine for 6 1/2 years. and you go down the line. dick at lehman floundering. fanny mae, radio shack, so many problems problems. rim, bp, tony hayward. so much public disclosure and the board doesn't act. >> do you think that sometimes

something tells me would love to own exxonmobil or something like that. that's a big elephant.avid: he goes for the big elephants, the big brands as well. liz will stay with us and mike at the cme. we want to bring in the market panel, scott and lee. lee, let me go to the you first about the news inside the beltway. the market is shrugging off all that bad news. sometimes what happens in the beltway does affect the markets when there was a possibility of a government shutdown, it affected the markets, the debt ceiling but this time no. seems like the market has had it with d.c. >> well i mean, fool me once, shame on you, but fool me twice. the american public right now is very well aware, a lot of people got swindled out of staying invested through december and january by falling into this lie about the fiscal cliff that the world is going to blow up. now we have this new deadline, i think people are starting to think wait a minute, the real enemy are entitlement programs going out years from now, not something right in front of us. most investors if you poll them yes, or main

he wants to know do you think that canada would green light a sale of suncor to exxonmobil. >> i thinky simple answer is no. if you look when we acquired petra canada, something called the petra canada act, which precludes a purchase of suncor without government approval. subsequent to that there has been competition legislation in canada. so it's very unlikely. if you look at the new guidelines the canadian government has, it's very unlikely a company the size and strategic importance of suncor to canada could be acquired. >> of course they could still wish for that to happen. probably won't but still wish for it. thank you for joining us here this week in houston. we'll have more live coming up throughout today and tomorrow from houston. of course can you catch it all on energy.cnbc.com. send it back to you. >> okay, sharon. thank you so much. given the fact the dow jones industrial is now up 150 points and at a new high, you would think the gold was punished a little more. it's holding up okay. prices about to close and jackie deangelis tracking action at the nymex. hi, jackie. >> w

that's why major players like exxonmobil, shell, chevroning, and others squeeze 1.5 million barrels ofnd every day, and they send most of it to the u.s. it's costlier than getting it from a simple land well because the tar-like oil has to be separated from the sand. and that uses lots of natural gas and warm water. the result is a heavy molasses-like oil which has to be upgraded into a lighter, high quality form of crude that can then be easily refined into gasoline, home heating oil, and other petroleum products. canada produces much more oil than it needs, so the excess oil is sold and sent by pipeline to its best customer, the united states. joining me now to discuss the negative side of the oil sanlds in the keystone xl pipeline is ben jones. he was president obama's green jobs czar during his first time in office, advising the president on ways to promote growth in the alternative energy sector in this country. he's a cnn contributor. joining us from los angeles is actress daryl hannah. you may know her from "splash," "wall street," and "kill bill," but she's a public activist for

exxonmobil pulled the trigger on xto a couple years ago.ot in the bargain was a massive nat gas field. bp has done several deals. it's very clear that's where everything is going. if you can find a company with that kind of exposure and those leases in shale plays, probably going to be a winner over time. >> let's move on and talk blackberry. it's reporting fourth quarter earnings before the bell tomorrow. and it promises to be a very wild ride if history is any sort of a guide here. jon for thet joins tt joins wit. >> every quarter for the past two years the stock popped up 5% or 7%. the other six quarters it was down double digits. show you a few of those quarters here. now, a couple of possible reasons for that. short interest is one. it's about 30% of the float. and there are only about 500 million shares out there but we're still seeing huge volume relatively speaking, over 50 million shares traded today. and that's below the three-month average. the question is what are the numbers that are going to move the stock this time? investors

exxonmobil, at&t and pfizer have had very active buyback programs. they'll have stocks to sell at the close. citigroup actually added stocks. they'll have stuff here. >> thank you so much, bob. >> heading towards the close, here we go, 50 minutes left in this trading session. the dow needs a positive close to be at an all-time high and the s&p needs to be only up 1.92 at an all-time closing high. but it's in jeopardy right now. we'll keep an eye on this. >> what did we say yesterday? buckle up. >> that's right. again. >> jpmorgan under the microscope today and on the hot seat on capitol hill. >> let me be clear, jpmorgan completely disregarded risk limits and stonewalled federal regulators. it is unsettling that a group of traders made reckless decisions with federally insured money and that all of this was done with the full awareness of top officials at jpmorgan. >> we're going to take you live to washington and get the latest on this hearing. plus, one of our next guests says jpmorgan chairman and ceo jamie dimon is not taking enough responsibilit

that's why major players like exxonmobil, shell, chevron and others squeeze one and a half million barrelsis land every day and send most of it to the u.s. it's costlier than a simple land well because the tar-like oil has to be separated from the sand. that uses lots of natural gas and warm water. the result is a heavy, molasses-like oil which has to be upgraded into a loiter, high-quality form of crude that can then be easily refined into gasoline, home heating oil and other petroleum products. canada produces much more oil than it needs, so the excess oil is sold and sent by pipeline to its best customer, the united states. joining me now to discuss the negative side of the oil sands and the keystone xl pipeline is van jones, he was president obama's green jobs czar in his first term in office. he's now a cnn contributor. joining us from los angeles is actress darryl hannah. you may know her from her roles in movies like "splash" and "kill bill." she's a very public activist for environmental causes, now the executive producer of a new documentary movie coming out this weekend called "g

of the world, where exxonmobil gets its hands into the american taxpayers' pockets? look at the big oil subsidies in alli babba's cave. want to know how corporate jets get special favored tax treatment compared to the commercial jets that ordinary mortals fly? look at the accelerated depreciation schedules in ali baba's cave of tax tricks. if using the phrase, "left-wing manifesto" seems a little strident, a little exaggerated about a budget proposal for 50% spending cuts and 50% revenues and you want to inquire why? look no farther than the republican treasure-trove of corporate and special interest tax earmarks heaped up in ali baba's cave. well, we're knocking at the do door. we are knocking on the door of ali baba's cave which so far has been untouched. we've done all spending cuts and a little bit of tax rate increase for families over $450,000, back to the clinton era rates. we haven't touched yet ali baba's cave. what we're saying as democrats is that americans paid in deficit-rubbin-reduction spendis that they're going to lose in services and in benefits $1.8

exxonmobil is a major employer in my district.here at of pocket cost will go up to up10,00$10,000. we as taxpayers will beyond hook for the rest of the plan. be under medicare which is an important program. their costs will go from $4,000 to $10,000. medicare is scheduled to go bankrupt. i would argue for the free market here. host: letting them decide how to use those funds? guest: it is still a contract between the american person who has paid into the medicare program and will at some point begin to draw down benefits. republicans say do not let it go bankrupt. this isn't children and grandchildren. this is pedro and bill. these are our siblings and spouses. now let's talk about making it a block grant. host: sue on the republican line. caller: good morning. how many waivers have been given to the affordable care act? it is our experience with government-run health care. we were in england and we ended up in london. my husband had a pain in his back. by the time it got to london, it was unbearable. we went to a hospital in lond

chevron in the green at oil continues to hold on with a slight gain, exxonmobil in the red.k you very much. dennis: the dow down only a point. we have the latest as president obama meets with ceos at the white house after calling out the chinese. cheryl: and we continue to look at live pictures from rome. there was gray smoke at the vatican. but there are live pictures, we have them up for you, and two more votes this afternoon, we shall see what will happen. so far, the cardinals have not picked a new pope. a look at how the currencies are faring against the u.s. dollar. >> 23 minutes past the hour, hello, everyone, this is your fox news minute. the cardinal electors are inside the sistine chapel at day two of the conflict continues. so far three ballots have resulted in black smoke resulting from the chimney. two more rounds each morning and two in the afternoon until a new pope is chosen. venezuela acting president is launching investigation to acquisitions the late president hugo chavez was poisoned. he died on march 5 after a two-year battle with cancer. he named interi

exxonmobil did gain but not a big gain. only 4%. bank of america, 5%. unitedhealthcare group, 5%.e are the names that kind of how they performed but these really are the stocks that we watched, nicole. obviously that you watch all of the time when you're on the floor of the new york stock exchange but again, that record high. hit it march fifth with the dow and hit it last night and second quarter begins monday. nicole: exciting for bulls out there. a lot of gainers that we've seen, like hewlett-packard and netflix, some that led the s&p 500 they have all stories that go behind them. even best buy that recovered. great with that. we'll see what the second quarter brinks. >> hpq, who knew, guys? ashley: will be hard to match the first quarter. cheryl, thanks so much. let's talk about some, food. arby's beefing up its business. one time struggling fast-food chain has been taking big steps to boost sales after splitting from wendy's. here to tell us more about the big changes inside the business is arby's ceo, halo mode dell moving. thank you for joining us. i as looking at the stats

liz: exxonmobile's tax bill is greater than the gdp of morocco. let's put it that way.i think we straightened it out. all right. let's see what -- silver spring networks, a big ipo today. it opened up big. nicole, it opened big. where is it now? nicole: it did open big. it was a $17 ipo. that's where it was priced. you can see it at 20.97 right now. it traded as high as 22.49. california-based tech company. hardware, software. and basically they had a lot of buzz surrounding it. what they do is that they have hardware and software that allow utilities like pg&e to plug into the so-called smart grid. that would be one of their many jobs that they do. also a clean energy ipo, it's been very well received, obviously, as you can see, a lot of buzz. it got a nice pop, but it is pulling back now, and trading at its lowest point of the morning. stuart: i have to ask, why the hat? nicole: i don't know. that's what they do. they always give out little hats. i want you to feel like you are here. the ticker symbol is on the back. stuart: we can't see it. it is a silver spring netw

. >> apple, exxonmobil and more expected to pay back billions to investors this year.nald reports on the record payouts straight ahead but first take a check out how oil is trading. it is up slightly, ever so slightly at $91.65 a barrel. we'll be right back. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. ashley: one big mover on today's crop report. let's get right to the cme and our very own jeff flock is in the middle of it all. jeff? >> it is one we didn't expect, ashley. actually orange juice futures. that is the soybean pit right there. look at numbers on orange juice futures. they jumped up 7% with the release of the world agricultural supply and demand report. that is because there is something down there called citrus greening. that is bacterial disease that is killing the crop. i want to get to virginia in the

exxonmobil topped with a $31 billion tax cat followed by chevron's $20 billion. >>> moscow tops "forbeslist of the most millionaires. new york second with 62 billionaires, tied with third, hong kong and london. and dale earnhardt finishes fourth on the list of nascar's highest bait nascar drivers. >>> and new yorkers flocked to yesterday's st. patrick's day parade. a u.s. news world report ranks new york's third best right behind chicago's big st. patrick's day bash, but the top ranking goes to boston whose parade starts in just about a half an hour and is the oldest parade starting in 1977. my mother made the best toffee in the world. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. i never really thought i would make money doing what i love. [ robert ] we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. >>> crews are ma

exxonmobil of texas topped the list. they paid $31 billion. >>> 8:19.ating whether dangerous driving may have led to last night's fiery crash in walnut creek that killed a motorist. it happened on interstate 680 just south of rudgear road around 6:00. the chp says the crash involved four cars, one of them burst into flames. witnesses say the motorcycle and another vehicle appeared to be driving recklessly before the collision. >>> services are scheduled today for the three people killed in a daly city crash earlier this month. a viewing is scheduled for 50- year-old hosefa acevad and her 23 and 15-year-old sons. funeral services are scheduled for tomorrow. police say the family was pulling out of their driveway when their car was hit by 23- year-old dennis masido. police say masido was leaving the scene of another accident. he faces homicide and hit-and- run charges. >>> 8:20. he's the man who brought the america's cup yacht race to san francisco. well, now, oracle's ceo larry ellison is being asked to do something else and it involves his checkbook. >>

exxonmobil of texas topped the list. they paid $31 billion. >>> 8:19.ngerous driving may have led to last night's fiery crash in walnut creek that killed a motorist. it happened on interstate 680 just south of rudgear road around 6:00. the chp says the crash involved four cars, one of them burst into flames. witnesses say the motorcycle and another vehicle appeared to be driving recklessly before the collision. >>> services are scheduled today for the three people killed in a daly city crash earlier this month. a viewing is scheduled for 50- year-old hosefa acevad and her 23 and 15-year-old sons. funeral services are scheduled for tomorrow. police say the family was pulling out of their driveway when their car was hit by 23- year-old dennis masido. police say masido was leaving the scene of another accident. he faces homicide and hit-and- run charges. >>> 8:20. he's the man who brought the america's cup yacht race to san francisco. well, now, oracle's ceo larry ellison is being asked to do something else and it involves his checkbook. >>> rain on the wa

there is still a lot of green on the screen especially when you look at oil giants, exxonmobil.llips is in the green right now. guess what, a lost raw materials stocks are doing very well and some commodity prices continue to rise. take a look at crude oil for example. here we have it, intraday highs right now, guys. mirroring $97 a barrel. don't forget there has been a changing of the tide in the crude oil market. it had been lower for quite some time. it is getting a nice bounce back. this is weekly chart, guys. when oil does well, a lot of big energy names do well and tracy and ashley, then a lot of the s&p 500 companies do very well. ashley: yeah. >> hence, we could see a record. tracy: and i hope we do. thank you, girl. ashley: put your hand down on that one, with authority. thank you very much, sandra. if you're looking for a way to make fast cash, who isn't, we can tell you how to make $6,000 standing around. tracy: oh, my god, doing that. look at winners and losers on the s&p 500. sandra smith was just talking about it. we'll be right back >> announcer: you never know wh

holding the top spot among the highest corporate taxpayer is exxonmobil, paying a whopping $31 billionay exxon doesn't pay any taxes. don't know where they get that from. it is right there. chevron is number two at 20 billion. apple isn't for behind at number 3, paying $14 billion in taxes. did you know the corporations typically paying the most in taxes can be categorized in three groups, big oil, big tech, big banks. lori: there you go. melissa: they pay the most in income taxes, something to consider as politicians call heavier tax burden on large oil companies an financial institutions. they pass the taxes onto the consumers. that's you! you are paying that at the gas pump, at the bank and when you buy your ipod!. not good for anyone. that's my sermon. i'm done!. lori: are you sure? melissa: i'm positive. lori: guess what. it is tax time. melissa: it is tax time. it is always tax time. lori: they're probably going up. the corporations are feeling the burden as you so eloquently explained to us and so are you the consumer, mom-and-pop. 6 trillion hours, that is how many hours americ

walmart, exxonmobil about $450 billion year companies. they get audited every year. $50 billion company, you know, it starts up, it gets audited every year. did doesn't seem to have much of a problem doing so. i've been scratching my head wondering why can't the department of defense, why can't the department of homeland security pass an audit? so i guess i would look to private business practicing and take a look at you know what is different in government that prevents that type of accountability? because the only way that department of home land security is going to be able to fulfill the important mission is through an accountable, efficient, effective management style. and i don't know how you can obtain that accountability if you can't pass a basic audit that private industry businesses that size do all the time. by the way, the management of those companies don't pass an audit they go jail or certainly face criminal charges. so i think we need bring that type of dedication, those types of private sector discipline to government to

wells fargo, exxonmobil, chevron, a general election, verizon, honeywell, you name it. the big story in the wall street journal, these guys are putting their money in the cayman islands, bermuda, other tax havens. i had the radical idea that if we deal with deficit reduction, maybe we don't cut social security and benefits to disabled veterans and medicare and medicaid and education. maybe we plug these loopholes and ask these guys to start saying -- start paying their fair share. what we do is create a deficit reduction reserve fund to promote corporate tax fairness, acknowledged this problem, and try to deal with it. madam chair, that is my amendment. >> is there further debate customer >> you might be surprised at how much we actually agree. you missed my opening statement. we all want everyone to pay their fair share. we also want more revenue. way you get more revenue is by growing the economy. i would love to wipe out the current tax code and start over with a clean piece of paper with two basic principles. raise the revenue we need, and do no economic harm. >> he

therefore, we should ask shell oil, british petroleum, exxonmobil to pick up the tab for the wars, therebuilding, the destruction of iraq. pay for that since they are getting all the oil out of it and they are generous enough to charge us $5 a gallon for it. i wish you would bring that up to some of your republican colleagues to actually live by their own philosophy. host: congressman? guest: i wish that we had been a little more aggressive in some of those areas. i voted against the new year's budget deal, because i thought that it was not old enough. and it is interesting watching what some of my republican colleagues did, which actually brought about the sequestration. it was clear that some of the people in the house would have willingly wrecked the global economy, defaulting on the national debt, not paying for bills that we have already incurred, and were in transgender. the president was faced with a dilemma in terms of people who would willingly take the economy hostage, the global economy hostage. it is a very strange calculation. that's why i would have wished that we would h

look at alec's board of directors comprised of lobbyists from exxonmobil, peabody energy and coke industries. look at the array of bogus denial organizations propped up to create doubt in this debate. against this tide of propaganda and nonsense stands states including rhode island which already cap and reduce carbon emissions. 19 states have climate adaptation plans completed or in progress. 31 states have a renewable and/or portfolio in progress. and immediate entitlement or lead standards. the obstructionists may be well funded by the polluting special interests, but the majority of the american people, the vast majority of the american people, understand that climate change is a very real problem. and they want their leaders to take action. americans want their leaders to listen to the climate scientists. they want us to plan and to prepare, to limit, to mitigate, and to adapt to the changes that are coming. and here in congress, it is long past time to move forward with meaningful action. that is why i'm working with several colleagues to establish a fee on carbon pollution. as i said i

good old exxonmobil, no one believes they are just like you and me.e have to give power back to congress and the states to regulate campaign finance. we cannot have billionaires' buying elections. not what it is's supposed to be about. host: let's hear from lorraine, independents, san diego. caller: i am concerned the president does not uphold democratic principles primarily with regard to social security. i have read that he's willing to put the chained cpi on the table in his budget discussions with republicans in order to achieve the grand bargain. i understand this issue was discussed in the meeting he had with a group of democrats yesterday or the day before. i read that you approached him about this. i would like you to discuss it more in depth. i would really like to understand why he feels that he has to betray americans and democrats in particular with his support of this program. he does not seem to be communicating and cooperating well with democrats in congress, both in the house and in the senate. guest: lorraine, i wish i could say what

one such candidate sources say would be lee raymond, former chief of exxonmobil and currently the board'sised raymond for frequent challenges with dimon. the length of raymond's tenure is unclear. when he attempted to retire last year the board unanimously asked him to stay. unclear at this point what will happen at the top of jpmorgan. guys, back to you. >> one of the things i find interesting is if you ask jpmorgan executives why don't you split the job of chairman and ceo, they have no response. >> that was one of the top questions that came out that the company's investor day just a couple of weeks ago. dimon said life is too short. you want 100% of the control of the company, not eight by% control. he noted when he was at bank one he wouldn't have taken that job if he didn't have both of those roles. he clearly wants the steering wheel, he wants control. unclear if he will be able to keep it. >> thank you, kayla. >>> cyprus bailout might have an unexpected side effect on offshore tax havens. find out why the super rich might be worried about their friends in places like the kay monda

$100 billion in revenue because large corporations, whether it is the bank of america, citigroup, exxonmobil, many of these large corporations are stashing their profits in the cayman islands. front page story in "the wall street journal" about that i think last week. what we have got to do is end these loopholes with these large corporations many of whom, by the way, if they're young corporations, bailed them out. congress bailed them out when their recklessness almost destroyed the economy. they needed help of the american people. when it comes to paying taxes, they prefer to put their money in the cayman islands. that's an issue that has to be addressed. right now at 12% of profits, corporations are paying the lowest effective corporate tax rate since 1972. so this is an issue that we need to address. host: senator mcconnell, leader of the republicans, talking about the democratic budget plan. this was before it was unveiled officially and here's his feedback on it. >> we hear it contains yet more wasteful, quote, stimulus spending, spending that turns out to be a lot more effective at ge

wells fargo, exxonmobil, chevron, a general election, verizon, honeywell, you name it. the big story in the wall street journal, these guys are putting their money in the cayman islands, bermuda, other tax havens. i had the radical idea that if we deal with deficit reduction, maybe we don't cut social security and benefits to disabled veterans and medicare and medicaid and education. maybe we plug these loopholes and ask these guys to start saying -- start paying their fair share. what we do is create a deficit reduction reserve fund to promote corporate tax fairness, acknowledged this problem, and try to deal with it. madam chair, that is my amendment. >> is there further debate customer >> you might be surprised at how much we actually agree. you missed my opening statement. we all want everyone to pay their fair share. we also want more revenue. way you get more revenue is by growing the economy. i would love to wipe out the current tax code and start over with a clean piece of paper with two basic principles. raise the revenue we need, and do no economic horroharm.

president, except for perhaps in congress and in the boardrooms of exxonmobil, it is no longer credible to deny what carbon pollution -- the presiding officer: the senate will come to order. mr. whitehouse: -- it is no longer credible to ignore what carbon pollution is doing to our atmospheres and to our oceans. we aid and abet that harm by subsidizing carbon, distorting the market, by violating the rule that the cost of a product should be in its price. nonrepealable laws of nature, laws of physics, laws of chemistry are at work and history's judgment will be harsh if we continue to fail in respecting those laws. i urge a "no" vote and yield back to the senator from washington. the presiding officer: the senator from washington. mrs. murray: mr. president, i raise a point of order that the pending amendment is not germane to the underlying resolution and therefore violates section 305-b-2 of the congressional budget act of 1974. the presiding officer: the senator from missouri. mr. blunt: mr. president, i move to waive section 305-b-2 of the congressional budget act for consideration o