. >>> none honeywell says 35% is high for companies to be a able to compete.ek max baucus threw out some ideas. honeywell is happy the conversation is getting started. and weak results from target today. ceo saying, quote, consumer spending remains constrained which has a lot of people worried about the low end consumer during the holiday season. and of course i'm always thinking obama care and for a lot of people, that's when their first premiums are going to be due. and for a lot of them, the first time they have to pay this and they will have on budget that around christmastime. >> and good for david coate. he wants 25%. bravo. thanks for helping us. >>> now, today senate democrats adopted new rules on the so-called filibuster. it's a long term tradition to protect the minority party. instead of 60 vote, now 51 is enough to confirm judicial and executive appointments. but years ago when the democrats are in the line ority, they warned of dire consequences if the gop ever used the nuclear option. listen to then senator biden in 2005. we'll be right back with

for many of the same reasons we like honeywell. so those are a couple of stocks that we would recommend for our investors at this time. >> but do you think your investors should stay away from things growing up, we were always told have utilities in your portfolio. what's that about? >> i think utilities in our opinion are overvalued right now as a result of investors seeking high dividend yield. and, what's happening or is going to happen eventually in the interest rate market, we think they, in many ways will track what the bond market. so that's the reason for our recommendation to stay away from utilities at this point. liz: dan, we've asked this over the past year is the market too stretched? even as we ask the markets continue to rise. we know that when we get good data like gdp as we did today eventually we have to come to face reality the fed will taper. some market participants and big ceos who are very intelligent who feel this should have been done already. can a portfolio survive tapering? of course it can, right. >> ab

as of the scale of people the moment at the moment i knew and honeywell the use of off the list of little or no comment to this job. monday the twentieth of june the company for whom. i am. i long meeting you. shh shh. ch in the spirit italian drama fought in crimes. nothing and no one are what or who thinks the not distinguished looking on the way. now police officers. not only yours. my children. or even old fisherman. eleven the new superman this. don't answer that. and to see beneath the sun sets its inspector frank the stunningly was laid back manner belies his drive to get the truth. i do lol the is the role as a fast space while me just that and it stayed. the team the team this week as a lucas and earnings. it's too soon. mary's ability to uncover the truth may be his greatest strength. it also gets him in constant conflict with his superiors. sydney nsw and also my concrete opener. it is something that is what got the latest issue one that the final two commandments. so relieved this monument is high in touch. the commemoration the scooter called karma the new issue. the christia

as of the scale of the moment at the moment i knew and honeywell the use of off the list of little or no credit to his job. among the twenty three one two the company for whom. sells steve the aye aye. it's a he gets off to the end of the state. it will. she is all to join the queue at the peak of his twentieth may to celebrate this event the gp group feel it yet and the historic center of the problem. we discussed the bulk of the portico and economic situation of the c g group chairman said dole in his opening address underlined that it takes energy determination and belief in the future to go with less than one generation state of war to being a fully fledged member of the biggest club but the bumper six. we admire everything has been the context. an he added that the ep peat group has always supported cr which its european ambitions. our supporters constant and other wavering because we are cvinced that we are destined to belong to the same community of values we welcome you with open arms is a partner. they'r very much looking forward to working with you. croatian democratic union

is this him up at the moment at the moment i knew and honeywell. the use of off the list of little or no credit is not. monday the twentieth of june the company and lily i learned i was in the atmosphere italian drama crimes. nothing and no one are what or who they seem not distinguished looking on the way. now police officers not only yours. my children or even old fisherman the button. the new superman my mum don't answer that determined to see beneath the surface is inspector frank the stunningly was laid back manner belies his drive to get the truth. i knew i would. the is the role as a fast. see salome is that. in the chain. the team. the team this week as a lucas and earnings. it's too soon series ability to uncover the truth may be his greatest strength. it also gets him in constant conflict with his superiors study into building a luminous white and green opener. it is so rich and beautiful properly the tickets are one of the final two commandments so relieved. this monument against him and us the commemoration the scooter called karma the

i think a honeywell or starbucks can be terrific investments. but i'm out here as much to educate you as myself about the value the cloud based companies bring to the enterprise, which is a fancy word for business. i want to know if we're in the third quarter, has the game just begun, is it the two-minute warning for the first half or second? i want to see for myself whether these are fads. and i can tell you definitely that they most are not, most. and, yes, i want to find the next salesforce and the next amazon like everybody else. believe me, they are out there. and it might be drop box, lest you think i'm nuts and simply at betting the science and pet.coms or e-toys, i want to bring in goldman sachs, steve balmer, the retiring ceo, my friend from college asked me to fly out to see him for the future. microsoft had grown into a company honestly might have been played out already, hard to believe, but really some people thought that. when i owned it for my hedge fund right up to the justice department investigation, which was too much for me i

here's honeywell delivering what the army wanted on time and on price. and the military buyers added a dozen bells and whistles. it ended up weighing 12 pounds more, tripling the cost and delaying the onset to where they finally canceled it. not because the supplier didn't supply it on time and on price, but the military was out of control in terms of what they were asking for. so they didn't get it, so we didn't have the availability to our troops in iraq and afghanistan the ability to look behind walls. which was available and on time. but our purchasing system. so you can't worry about the symptoms. you have to change the structure. you have to change the leadership. and i will make one final point. right now we have more admirals than we have ships. at the end of world war ii, we had 10,500,000 people under arms. we had over 2,200 general staff officers. now we have half that many and 1.5 million arms. there is one of the big problems. you have way too many staff engineers who each have a cadre of people and then protect their turf. don't protect the

listen, dave is brilliant guy but honeywell is high technology company making things like thermostatstle dashboard. i'm not sure he knew how to find risk in a "london whale" type trade at jpmorgan. >> many companies, when you're looking for directors you're not looking for somebody that really understands your business. consumer package goods, industrial manufacturing. you're looking for somebody that understands the international marketplace, m&a, diversification, innovation and investment but there are certain industries, particularly the financial services industry, that have become so sophisticated and so complex that it take as significant amount of understanding for the average board director to understand the business and my view is, in those industries if the board directors don't understand the business, the business is, their governance is at great risk because they have no idea what appropriate questions are to ask. they should challenge executives to say, i don't understand what you're talking about. how do we make money in this business? david: we've not only seen that fr

eaton, honeywell, 3m, caterpillar.e like them very much because of the turns in both europe and china. europe is getting very strong. despite what you heard about the french s&p downgrade. and if employment stays strong here and we don't get anymore child-like antics from washington, we could hear some terrific things about 2014 when we listen in to this conference. thursday is retail day. we have three of a different kind, we have walmart, kohl's and nordstrom's. i have a controversial call on retail because it's optimistic and happy. i know that's not in sync with anything you're supposed to hear. i think it will be a good holiday season in part because the cost of gasoline is coming down a lot. and that is directly, directly relational. i also believe that october turned out to be a stronger month than the people think. that means we can hear good things from the low things at walmart and the high end at nordstrom's. i'd prefer to buy nordstrom's. if only because it has fallen behind the group and it's a superior op

i'm a little more concerned about the multinationals like ge and honeywell, so trimming those and going into the names like yelp, linkedin. talking about the hedge funds wanting to get more beta, i think the names will work from now until year end. stay away from retail, i think confidence has been hurt. but you have to add beta on the portfolio, and stay away from the international names. >> let's get to the man who bumped his price target up for the s&p 500 for year's end. he's tom lee, jpmorgan's chief investment strategist, live in new york city. tom, welcome back. >> yeah, thanks for having me. >> why the 50-point bump? >> well, you know, we're only middle -- in the middle of the fourth quarter. you know, it's been a good six weeks. the conditions that would supporting a rise in the first six weeks are in place at year end, and we know investors usually position for the year end anyway, so we don't see the market stalling here. >> coincidence it comes after the day after janet yellen was on the hill and seems to not have changed the gps on the fed's roadmap? >> it was actually supp

side the other thing he's a maniac me on the other group is to actually fund that is a group of honeywell out with them to be in the region since two thousand and eight is about michael. we all know they they walk up and the train did not in the ex president and a smile actions including some that right is of most relaxing than i did not make this a great they know what's happening in the region on the slide since two thousand to me late for his racing days that the terrorists aren't asking for help but nobody actually giving helpful and thus the reason to not sweat walk with. well we are now convinced that that's the long view and it is true that the people from the north it or hates the field for a long time forgotten ignored sometimes persecuted as you heard. by the government and our coaches fifteen hundreds of kilometers away. can i do think we'll get back to the specifics of what happened. whose responsibility is it great today this moment is this possibility is that the safety of the dow. if you have to look at it with regards to responsibly leave it as well. with regards to soberi

honeywell is along for the ride. they make the cockpit.oeing was the worse -- you know, mcnerney is just a great american executive. think about a few months ago, even to the ethiopian fire and i said, you must have been so worried. and he said, not the least bit. this is a solvable problem. what it makes you feel like is, we're going to get this done. boeing's america's greatest manufacturer. >> that's interesting. of course, so interesting as well, the look at where the demand comes from. we've said many times but asian committees. that is the key market. that's where the growth is, of course. we can talk about consolidation. doing a good job and taking a look at it. something that we did live at the time, looking at the two statements from the doj when they challenged that merger and then allowed it. nonetheless, the demand is from there. >> it brings up one other story regarding boeing. at least 50 people were killed when a plane crashed in russia last night. the boeing 737 from moscow exploded after a failed attempt to land. boeing is

. >> yes. [ overlapping speakers ] and always politic, honeywell, ge. >> did you hear what he said, whichtalist at heart. >> i'm a capitalist at heart, too. >> come on. >> i'm not saying the shareholders won't accept the deal. what are you talking about? >> i'm with andrew. there is a political backlash, some potential -- >> i don't think so. well, we'll see. >> it may not crush the deal -- >> you won't be able to prove one way or another, because they haven't merged yet. we won't be able to prove the counterfactual. >> we'll have to wait. >> if they do, and it works, what will you do? >> i'll eat crow. >> okay, i'm going to get you a dead crow. i never have to eat it, because they haven't bought it yet. >> if they do -- >> all right. then i will eat some -- i don't know if i'll eat a crow. >> i promise you guys i will e-mail in, and announce -- >> what are you going to do? i get to eat crow, too. >> oh, no, no. >> he'll have to eat crow in new york city. [ laughter ] >> we will do the show -- we will do the show from new york city one morning, and you'll eat crow. >> are there boards in