david: david cote of honeywell

we speak to honeywell's david cote. >> tom: i'm tom hudson. automakers go green. general motors' unveils its newest all-electric chevy spark. >> susie: and what would you do if you won powerball? some advice tonight on how to handle winning $550 million. >> tom: that and more tonight on "n.b.r." >> susie: a parade of business leaders in washington today to persuade president obama and congress to avoid the fiscal cliff. with just 33 days left to nail down a deal, c.e.o.s made the rounds to explain to lawmakers that because of cliff gridlock, they're holding back on hiring and spending. as darren gersh reports, c.e.o.s weren't the only ones campaigning hard today. >> reporter: the president and republicans focused today on staging events designed to pressure the other side. the president called on americans to tweet, facebook and call members of congress to tell them to pass tax cuts for everyone making less that $250,000 a year. >> 97% of small businesses would not see their income tax go up by a single dime. even the wealthiest americans would still get a tax cut

of honeywell. david, thank you so much for joining us. we really appreciate it. did you get the sense from house speaker boehner, he is ready to make a deal? >> i would say there is a recognition on all sides about the significance and importance of a deal. it is a real question about getting both sides en the room to actually hammer it out and get something done because we don't have a lot of time left. >> susie: president obama said he would like to have a deal by christmas. from what you heard today, how realistic is that? >> if they want to, they can get this done in a couple of days. it is just a matter of kind of working out some of these important details. but it's a matter, i think, they just need to get together and get started. i think both recognize the need for a market-credible $4 trillion deal, and it has got to comprise both tax increases that are believable and that will happen, and entitlement reform that is believable and will happen. both of those things will have to be an important part of this. >> susie: did speaker boehner talk more specific

david cote joining us from honeywell.o how exactly would going over the fiscal cliff affect your money? that's what we're talking about next. steve liesman does some cliff diving and breaks down the numbers on what it means to you and mean. >>> then, two professional negotiators have been listening to what the president is saying that he wants and what speaker john boehner said he wants to avoid. do they think we'll have a deal or no deal? you're going to want to hear what both of them have to say. they're coming up next. you're watching the "closing bell." stick around. >>> welcome back. well, the countdown is on. lawmakers in washington have just 47 days to reach a deal on the fiscal cliff or risk massive tax increases and massive spending cuts. senior economist reporter steve liesman is breaking down how going off the cliff will impact you. >> if it's not clear to people how the fiscal cliff will affect their wallets, i think this report will make it clear how it's going to mean real money out of your wallets. accordin

he pulled honeywell out of a slump.s one of america's largest industrial conglomerates. 130,000 employees make products ranging from aircraft parts to home thermostats. given the uncertainty of what's going to happen next how much effect does that have on your planning at honeywell? >> i wish i made up this phrase because it's so good. it's capital is a coward. when it comes to hiring, you know, they retire, they leave for a variety of reasons and i'm not going to back fill those jobs. i won't hire for them. when i look at capital expenditures and decide should i build that new plant or modify it, upgrade it? should i invest in the this new product? you know, maybe i'll hold back a bit, wait and see what happens. and that's happening across industry right now. >> pelley: cote told us a deal has to include big budget cuts and increases in tax revenue. the tax money, he said, could come from reducing deductions. >> we collect $2.2 trillion in taxes but we give away half of it in credits and deductions. >> pelley: the mort

that is dave cote, the chairman and ceo of honeywell. fix the debt campaign and the american who understands the crisis that we are in. coming up. the clock is ticking. call cramer to find out how to fire away at cramer on the lightning round. can he withstand your onslaught of stocks? and later, ready for takeoff? shares of boeing have been caught in a holding pattern this year. but could the flight path be changing or will fiscal cliff concerns keep it grounded? cramer is taking out his technical tool set to read the plan. coming up on "mad money." >>> it is time for the lightning round. >> i know you like gld, but i'm looking at sandstorm. >> i know that group, these are the ones that do, how would we describe them? these guys lend other miners money and they are good, but remember, if gold goes down, they won't be drilling. let's go to jerry in ohio. >> i would like to know about qcom. >> magnificent quarter, doing well, getting respect. may i add cisco reported a good number today and it is going to help broadcom which has been pull

hon honeywell ceo will joining me first on cnbc as soon as that meeting is over.aving you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and my daughter loves the santa. oh, ah sir. that is a customer. let's not tell mom. [ male announcer ] break from the holiday stress. fedex office. how they'll live tomorrow. for more than 116 years, ameriprise financial has worked for their clients' futures. helping millions of americans retire on their terms. when they want. where they want. doing what they want. ameriprise. the strength of a leader in retirement planning. the heart of 10,000 advisors working with you one-to-one. together for your future. ♪ >>> welcome back. facebook one of the big winners on wall street today. that's a surprise. this is a day when many feared a selloff because of lockup expiration of an additional 800 million shares available for insiders to sell. it hasn't happened. julia boorstin is here to explain what's going on. >> well, bill, facebook shares are up 12.5% now as the stock benefits from a virtuous cycle. m

which along with honeywell will get big defense contracts.e former lawmakers including msnbc political analyst ed rendell for full disclosure are on the group's steering committee. the real issue is the position taken by these corporate ceos. joining me now is e.j. dionne, washington post columnist and author of the book "our divided political heart." good to have you with us tonight. >> great to be with you. >> this looks like a publicity tour taking aim at earned benefits instead of corporate welfare. it's like these guys have the power to go out and command the camera and the exposure and to make share case that everybody else is the problem but their corporate welfare. how do you see it? >> well, i tell you, ed, one of the things that really bothers me is when these guys start talking about raising the retirement age and what do they have in mind? they have in mind people like ceos, people like us who talk and write for a living, i hope i'm talking to you for a good long time, but they don't think the about what this means for people who

it includes boeing and general electric, which along with honeywell, will get big contracts.ndell is on the group's committee. the real issue is the position taken by these corporate ceos. joining me is e.j. dionne, author of the book "our divided political heart." this looks like a publicity tour taking aim at earned benefits instead of corporate welfare. it's like these guys have the power to go out and command the camera and the exposure and to make their case that everybody else is the problem but their corporate welfare, how do you see it? >> one of the things that bothers me is when these guys talk about raising the retirement age, what do they have in mind? they have in mind people like us who talk and write for a living. i hope i'm talking to you for a long time. but they don't think about what this means for people who might work on their feet all day. i'd like to challenge these guys if they want to call for a later retirement age, let them go to work for a couple weeks in a coal mine or an orderly in a hospital. the other thing is the lower income people have not e

it's interesting considering how honeywell did not pay any corporate taxes between 2008 and 2010. in fact, it got $34 million in rebates from the government. these ceos also talk about the need for revenue. but of course, without specifics. >> in the long run, there has to be more revenue and the burden will be taken up by wealthier people. that's just logical. >> we collect $2.2 trillion, but we give away half of it. you need more revenue. >> the group calls itself the campaign to fix the debt. it includes boeing and general electric, which along with ho y honeywell, will get big contracts. ed rendell is on the group's committee. the real issue is the position taken by these corporate ceos. joining me is e.j. dionne, author of the book "our divided political heart." this looks like a publicity tour taking aim at earned benefits instead of corporate welfare. it's like these guys have the power to go out and command the camera and the exposure and to make their case that everybody else is the problem but their corporate welfare, how do you see it? >> one of the things that bothers

the group includes the heads of american express, xerox, ge, and honeywell. the white house says he'll call for $1.6 trillion in tax hikes on businesses and wealthy americans, more than republicans are likely to accept. speaking at a "wall street journal" event tuesday, tim geithner warned congress against delaying a solution to the fiscal crisis. >> if you say again, as we've had to do before, because there was no alternative, we're going to extend and delay, what gives people confidence that people have to negotiate this will come to the table and negotiate? they always believe they can just extend again. i know the cliff is unattractive. it would cause a lot of damage to the american economy. that damage is imminently avoidable. not that complicated to solve. >> hmm, not that complicated. not so sure. just as one leadership transition is behind us -- oh, i should mention before we move on to talk about china. at that same "wall street journal" event, 70% of ceos and top executives say the fiscal cliff is their primary concern. so perhaps justifying all the

reports say the ceos of ge, honeywell, walmart, ibm and more will be there. the president then meets with congressional leaders friday to address the cliff. "i intend to work with both parties. i said over and over again on the campaign trail, we can't cut our way to recovery, we have to ask the wealthiest americans to pay more." "instead of raising tax rates on the american people and accepting the damage it will do to our economy, let's start to actually solve the problem. "let's focus on tax reform that closes special interest loopholes and lowers tax rates." without an agreement between lawmakers, $600 billion in automatic spending cuts plus tax hikes affecting all americans are set to trigger at the end of the year. greece remains a country on the brink. sunday greek leaders approved a 2013 budget that includes deep spending cuts to pensions and wages, even as protesters took to the streets. now greek leaders are still awaiting word from eurozone finance ministers on whether it will recieve a $40 billion bailout loan. greece needs the money by friday. ga

larry, former chairman and ceo of honeywell. one of our favorite guest hosts.once every quarter, larry. >> i do. >> once a quarter. and -- i don't know. last quarter was -- seems like 10, 15 years ago at this point. doesn't it? >> it does to you. to me it is about right. >> with everything that we have been through. i -- i have had different thoughts today. i i will just -- let you give us your analysis of the fiscal cliff, where it stands and -- do you think that -- would it be okay to go over or would it not be okay to go over? >> i hi it is best not to go over. i think the opening by the president was disappointing because i think it is unrealistic and not happen. i do think there will be a deal and i think that the deal will be they will announce a framework that will be something like simpson-bowles, increase $3 billion in taxes. i think that will be the framework. i this that they will set a date next year where they are going to get the details in. in the meantime i think that -- >> that's a long way from where we are right now. >> it is. let me explain.

one of the ceo's david cody, chairman and ceo of honeywell and on the ceo steering committee to fix thef the simpson-bowles committee. thank you very much. i was fascinated what you said on "meet the press" on sunday. wanted to give you a chance to expand on that. what kind of money are you sitting on, that you would invest if you had certainty going forward, what the tax climate would be, spending climate would be and debt would look like in the future? >> here's the way i would look at it instead is, if you go back to june of this year, we have attrition that occurs every month. 400 or 500 that leave every month, retirements, take another job, whatever. back in june we started adding them back at only a replacement rate of 100 or 200 to replace the 500. we're steadily working our head count down. true for us, true for a lot of other companies and every single one of us has reduced our capital expenditures budget for the coming year because we just don't know what's going to happen. >> and what are you saying -- first of all what are you hearing on the hill today? you've been going aro

. >> reporter: one ceo of honeywell said there's so much uncertainty hanging over the economy because business isn't confident that washington can go its basic job. he says people like me just aren't hiring. kate. >>> mike viqueira at the white house. senator john mccain softened his tone after vowing to block the nomination of u.n. ambassador susan rice to be hillary clinton's successor. he argued that rice damaged her credibility when she said the attack was a spontaneous protest to an anti-muslim video not a planned terror attack. today mccain was asked if he might change his mind about ambassador rice. >> i give everyone the benefit of explaining their position and the actions that they took. i'll be glad to have the opportunity to discuss these issues with her. >>> still ahead, sick and tired of being bullied on the road. how cyclists are taking matters into their own hands. >>> later, mick, heath and the stones still rolling after half a century on top. [ male announcer ] are you considering a new medicare plan? then you may be looking for help in choosing the right plan for you

. >> susie: tomorrow on nbr, honeywell c.e.o. david cote will be on capitol hill talking with republican leaders about the fiscal cliff. after that, he'll join us with the news and his analysis. >> tom: "beyond the scoreboard" tonight, google is a feared competitor, from its dominant position in internet search to the android smart phone software. now, it's getting into the game of live professional sports video. here's rick horrow. >> reporter: google has agreed to pay the nba a figure in the low six digits to stream 350 development league games on youtube this season. the deal marks the most live games on youtube by a major professional sports league. the partnership between the nba and google's youtube is being touted as an "experiment" to see how many views and how much online ad revenue can be generated from the games. when it comes to online video, the nba is arguably the most progressive u.s. sports league, having launched a dedicated youtube channel back in 2005. but for as much of an experiment as this is for the nba, it

ceos from caterpillar, goldman sachs, allstate, honeywell will meet with house republican leadershipednesday morning to discuss the fiscal cliff. also attending, the former cochair of the debt commission. also, president obama speak with john boehner this weekend at an attempt to restore momentum to the slow-moving negotiations. congressional and white house staff still in negotiations preparing for the next meeting between top democrats and republicans will congressional aides say the administration has not yet extended another invitation for high-level talks at the white house. sources close to these the negotiations confirmed treasury secretary tim geithner is taking a leave for the administration on these talks. saying simply closing tax loopholes fails to raise enough additional revenue putting him and other democrats at odds with republicans. republicans are standing firm against a rate increase is saying the only way to raise tax revenue is through closing loopholes and curbing deductions. entitlement and spending cuts must be a part of that. >> you could put taxes at 100% on

we'll talk to within of them who was in the room, honeywell ceo david cody on the state of the economyy running four. fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. and we got onesies. sometimes miracles get messy. so we use tide free. no perfumes or dyes for her delicate skin. brad. not it. not it. just kidding. that's our tide. what's yours? >>> we are joined now by our roundtable, andrea mitchell and david brooks. former ceo of hp carly fiorina. al sharpton is here. and we're pleased to have ken burns. his new film "central park five" debuted in new york on friday. and we'll be talking about that. ken, great to see you. hope you all had a great thanksgiving. now we're looking ahead, because things are going to get serious in washington. amid all the holiday parties for the president, he has to try to get a fiscal deal. reverend al, based on what you've hea

you can see there proctor & gamble, honeywell, pepsi, chevron, aetna, american express, honeywell.re big, big companies. pepsi, ford. they're going to tell them what they need in order to invest, put more money in and start employing people. he is going to tell them what he needs in terms of getting congress to capital cooperate. you know, congress is probably more influenced by these companies than the white house is because these are funders on an ongoing basis, including organizations like the u.s. chamber of commerce with which the white house, as you know, has no relationship to speak of. >> now, one of the things we know that some of these groups, these ceos, poured more money into the republican races than the democratic races and essentially we're investing in beating the president, but for the most part when you look at that group there, they are, a, friendly with the white house, and there are no small businesses represented. do you think that's a problem for the president? why doesn't he have those people in the room? >> there are a couple of groups that are not intdz in

you know i think honeywell is a tremendous company.ecause he is on the steering committee of the fix the debt campaign and he is spearheading it. welcome back to "mad money." >> always great to see you. >> welcome to the radical middle. >> yeah, hey, radical middle. that is what it is. when we talk about rise above into the radical middle. you are seeing the president tomorrow. what are you going to say to m him? >> we have the worst debt problem we have had in over 200 years since the revolutionary war. democrats and republicans have to work together. we have to come up with a $4 trillion plan and with a similar tax system with entitlement programs that have to get reformed. and some discretionary spending cuts and they need to get this done. i believe that if they were to do something like go off the fiscal cliff. it could promote a bigger crisis and recession. this could be something that we can't predict where it is going to go. that is silly. >> right, on the other side of it. i think there is a potential for a robust recovery tha

stocks are on sale down nearly 200 points the dow jones industrials but we have the ceo of honeywelling up, just in a meeting with president obama, so let's begin after the bell with david asman. david: a lot of people sit in it he started talking the market went down. i think it was much more to do with what the federal reserve was saying about when they may raise rates. they broach the subject of raising rates even though it is in the future. liz: that and possibly qe4 and people trying to blame the president. we know nicole petallides talking to all the traders and accelerating losses into the close. nicole: he said we have further to go to the downside, looking at the technicals were not actually by the market until we were a nice pop for facebook. liz: on the down day, abercrombie and fitch came out with sales just down on fifth avenue can see there is always a line for this company. nicole: they were down 36% year-to-date after the close. today a complete turnaround saying the sales are doing well. good numbers for abercrombie. david: left the president off the hook for today's

fatcat ceos, those from honeywell, allstate, do you think that that is going to be a sitive conversation? will congressional leaders listen? >> i would think that they have been listening to the ceos all along. and even lookng at wall street and main street and they all say the same thing. we want certainty out of washington. we haven't gotten it from is administration, whether it is dodd-frank and all the mess that the excessive spending. so i think that wall street and main street will say the same thing. stoppending soso much, put your fiscal hou in order. >> let me ask you about warren buffett. warren buffett saying that there's no tax pledge doesn't work. today, and i would like to play this to you over and over, he responded. take a listen to this. >> i agree with part of it. warren buffett really believe what he said, he could do it any other american who thinks that they are not paying enough xes, he could stop fighting the irs and just start paying for the irs says that he should be paying today. that is one thing. cheryl: that's true. >> if he believes that the federal governme

honeywell came out and said forget about sequestration. cuts are coming in defense whether we have sequestration or not. honeywell said they thought 80% of sequestration cuts would come regardless and that people should get used to that fact that there will be less spending in defense. 80%. bottom line here is, folks, get used to what's going on in defense. also, regardless of the fiscal cliff there's cuts. the u.s. government is the world's biggest buyer of software associated with the running of any kind of government. that's another kind of corollary here. a big comment from a lot of people in the defense industry about that yesterday. i think they're the first company to come out and make realistic expectations of what will happen in the next couple of years. back to you. >> okay. thank you. dave cote is the head of the curve on all of this. let's shift to bonds and dollar. rick santelli at the cme group in chicago. rick? >> thank you, jim. everyone is excited about good housing numbers. everybody but the fixed income market. everybody

the guy who doesn't like the contract got $2.3 billion for his company honeywell.led to $55 million for david cote himself. and get a load of that last number. why do they keep arguing to keep the bush tax cuts for the rich? david cote alone last year alone saved $2.5 million from the facts that they kept the bush tax cut for the rich. he says, yeah, let's take away that guy's home mortgage and maybe even my home mortgage deduction on my second home. [ chuckling ] but i'm keeping my $2.5 million a year. that's what this is about it's about greed. what is the result that have greed? they've been doing it to us for decades now. last year median household your earnings went down 4%. your income down 4% last year. well how did the top 400 do? according to forbes calculation, top 400 their income rose by $200 billion. more for them. less for you. that's what this is whole game is about. that's what this grand bargain is about. that's why now all of a sudden the republicans led by their ceo bosses are saying, take the deal. it's a great deal for us. that's the reality of

. >> it is being led by honeywell and from g.e., and those c.e.o.'s are no surprised and the c.e.o.rd or amex, in surprise there. forget who is going, think who is not going. the closest national titan -- jamie dimon is not on the list. >>neil: what do you make of that? >>guest: it is clearly, what my mother would say, you voted, you voted for him and you supported my opponent and now --. >>neil: i thought he would be bigger than that in the second term. >>guest: did you hear him speak after he won? listen, what everyone knows is going down here and this is a show, a joke, what people know is the battle. president obama and we reported this today, e bowls is asked to be a negotiators and we were the first to report that, a go define congress and the president and he said "no." they will pick jack lou, a partisan liberal, for treasury secretary. >>neil: you do not see any possibility for a surprise? >>guest: everyone they are talking saying it is jack lou so that means the president is going for push with the congressional republicans and public his agenda which is higher tax rates.

i mention deere and honeywell, these are companies that right now were growing. and so they had a reason to hire. honeywell has done a remarkable job. made an acquisition in refining dirty oil. talk about something we really need. making shale gas into liquified natural gas. that's a growth business. he should be the guy who is bringing people to work. for every eight people who retire, he's hiring one back. he should be hiring eight back but he says, listen, i got to do this right for the shareholders. >> on january 1st, it's not as though the world will come to an end if we don't get a deal. people are still going to spend. they may just not spend quite as much or perhaps pull back down in anticipation of not spending much then. >> it's unknown enough that it feels like it's armageddon. you go on twitter, how many geddons do you have? you know, what's important is that we don't know. we don't know and we have these discussions. >> we have so much to talk about. we haven't got to retailers. gap and sears in just a moment. meantime, there's more economic data for

. >> i spoke with the coo of honeywell yesterday. he, i asked if he agreed with that bowles told me on tuesday. he felt this was a magic moment. here's what david cody had to say. >> there's a real recognition now of the magnitude of our debt problem. two years ago, people weren't really talking about it and the commission really brought that to the floor and that combined with this fiscal cliff is generating a very different conversation than it did say two years ago. >> do you think the conversation is different now than two years ago? >> definitely. david sat next to me in the commission. erin, you know from your time around washington that most of these commissions generate reports nobody ever sees. that particular commission was different and david and i voted for the final product bipartisan vote on it and i think it really called attention the fact we can successfully deal with our deficit in a balanced way with everything on the table and we're sensitive to the fact we're in economic recovery right now. we don't want to stall

. >> and xerox, honeywell, general electric, they aren't small businesses at all. >> they don't own the manufacturing plants in ohio, pennsylvania, out west, of course not. but it's no secret the business campaign generally favored mitt romney during the campaign and this is clearly by the white house to extend an olive bran were by them and try to feel them back in the fold -- grow ahead. >> these big national companies, pepsico, ford, these are entities that have a lot of congressional districts throughout the united states. you are putting pressure on people that have a lot of tentacles. if you can't do it with the small businesses in as efficient way. >> some of the business leaders were pro obama and there's no doubt he won't back down on his call to have the richer pay more taxes. >> you say he is going to? >> no, no way in the world. he campaigned on it every single step of the day. >> why not do what lbj and bill clinton and ronald reagan did and smooze with the speaker of the house? he's the one you have to win over. >> it starts friday. they have arranged a meeting. it will be

tomorrow on the show, honeywell international chairman and ceo david cody, democratic senator john testers mike allen. tamron hall with a look at what's next on "news nation." >> next hour we are following big breaking news right now. senator joe lieberman is meeting with ambassador susan rice hours after she met with mccain, ayotte and graham. we have new reaction. plus a live report from capitol hill and joel reuben will joan me coming up. president obama takes a page from his election success by using the power of the people when it comes to the fiscal cliff. we have the latest on the president's plan to take his message on the fiscal cliff negotiations right to the public. [ female announcer ] you can make macaroni & cheese without freshly-made pasta. you could also cut corners by making it without 100% real cheddar cheese. but then...it wouldn't be stouffer's mac & cheese. just one of over 70 satisfying recipes for one from stouffer's. to provide a better benefits package... oahhh! [ male announcer ] it made a big splash with the employees. [ duck yelling ] [ male announcer ] find ou

. >> there's a couple of guys out there, i think forgetting his last name, who runs honeywell who is on the competitive committee. there are guys out there who could be more natural allies. maybe the ship has sailed on jamie dimon and jpmorgan. >> relationship is not so hot. fiscal cliff is going to be a big part of "meet the press." >> we'll talk to schumer, coburn, really understanding the election and where the republican party goes from here as well. >> we've got to talk more about th karl rove thing. >> so he's upset that the obama campaign borrowed his play book? >> did the same thing. >> all right. thank you. >>> still to come, president obama goes where no president has been before. we will be here for an election dissection, looking at what happens next. john boehner signals a new willingness to compromise on immigration while senator mitch mcconnell is losing a few allies but keeping his leadership post. it's friday. we're going to indulge a bit in 2016 speculation. one thing we already know for sure, the first test of the clinton machine is coming up faster than you might

we speak to honeywell's david cote.