you heard emac, liz macdonald talking about stocks in correction mode.n you get a report from mcdonald's, a global company like this one, just talking about its first monthly drop in same-store sales in nine years. it wasn't one area. it was in the u.s. it was in europe. it was in asia. it was in africa, it was in the middle east. so the selling it is a global story as well. not just here in the states. really is a soft economy across the world. and they worked very hard to try to beef up that dollar menu. make things attractive and cheap and they continue to do so. this latest report from mcdonald's, not a good one. back to you. tracy: no doubt at all. unless people are upgrading, saying i'm done with a whopper, i'm going, where am i going? applebee's? john. ashley: a bit of a stretch. tracy: i'm trying. we have thousands of people in new york and new jersey still without power again after the massive storm yesterday! thousands just never got it back from hurricane sandy. what is in store for the rest of the winter it? how will this impact the economy?

liz macdonald and gerri willis are here.et their reaction coming up next. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the marke he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. dave: another example of private enterprise trumping government big time. and entrepreneur in nevada aiming to build a so-called party train from southern california to las vegas and you wants to have it up and running by new year's eve 2013, the 516 pound passenger train is described as a nightclub on wheels. sounds like a lot of fun and the cost is estimated at $100 million, just a fraction of the government supertrains they want to build. gerri willis and liz macdonald are here. good to see you. than

liz macdonald with details next. if you don't live in this area superstorm sandy may have damaged your stocks, the actual physical certificates. liz: you remember stock certificates? yes they still exist. one million paper certificates that act as real proof you own stocks and bonds were stored in a vault in new york. you know where this is going, in an area badly flooded and the damage could now be in the billions. liz macdonald joining us with the costly details. >> what happened was 65 water street got flooded. we'll show you on the map where 55 water street. the vault that holds these certificates also underwater. so the depository trust clearing corp is saying to fox business, significant, quote, significant damage from flooding. they're suspending indefinitely the processing of stock certificates. their proof of ownership essentially. they do have electronic backup but you have to have the paper record. so there is no accurate assessment of the water damage here. what we know from 9/11, $300 million was spent b

liz macdonald is live talking to the manager that is operating at a gas station but he is fighting off a crowd. also generators. one ceo that very few of you had in your portfolio before. list dock is jumping as shares surged more than 20% he will speak to us live. what good is a generator if you don't have gasoline? might want to use what little we have left. is affecting the markets. how much of the jobs report is a member or a distraction? let's go to the new york stock exchange, chicago mercantile exchange and it is expecting -- higher than expected is confusing. >> you would see the market was up 100 points to the fewer jobless people in a blow away the member but his wall street thinking ahead? the economy is getting better including the revisions and that means no longer lemonade the federal reserve with quantitative leasing and rates should rise with the dollar then the materials group comes off. then it is the oil and gas because it is cheaper to buy with more dollars. liz: let's go to nymex. crude oil is down to%. natural gas down 4% and gasoline down 2.25%. with supply goes

we turn now to our own liz macdonald who is live in queens, new york. liz?at's right, lori and melissa. just around me i'm picking up photos from family albums right on the ground around here. this is what is happening, you're absolutely right, lori, i say a dozen towns, 11 towns ended up in parking lot. it was a parking lot for jacob ris park. it turned into a new landfill. department of sanitation is saying biggest in new york state. we have whole neighborhoods here, business districts. you can see off in the distance the freedom to youer is five to seven miles away. what you're seeing family sofas, white wear, meaning appliances, photo albums, childrens toys put into dumpsters and transferred out of new york state and possibly into places like pennsylvania. the weight of the tonnage here is surpassing the weight of the empire state building. and what the sanitation department, they are the first responders by the way, they're telling fox business just five minutes ago that the reason the fires burned in these houses because debris was blocking the fire tr

cheryl: thank you very much, liz macdonald. liz: sure. cheryl: well bankrupt twinkie maker hostess brands are even more trouble as thousands of its workers are on strike. dennis neal is talking with gregory rayburn. dennis: the ceo of hostess is here to announce they are now closing permanently three of the 36 plants as a direct result of this strike. thanks for joining us, mr. rayburn or greg. first of all, you have told me previously that you will shut down this entire company if the unions strike because you guys are trying to get out of this bankruptcy. are you sticking to that threat? >> well, you know, i've never said it as a threat. you know, i have always said it as a consequence. you know the business could not withstand any significant material work stoppage or strike. we said that our unions. our teamsters supports the plan. we have said if you go out on strike, we would likely have to wind down the business. >> you are closing plants permanently. are you doing this as retaliatory measure to show you mean business or does this

liz macdonald here is more with emac's bottom line. do they know the final number?e with you guys. they don't know the final number. governor andrew cuomo is weighing in on this debate. cost for new york state, $41 million. 19 billion in new york city alone. what is being incurred to date by the state of new jersey. when all said and done could surpass the cost of hurricane katrina which stood $110 billion. when you look at the numbers, basically the power outages in the region from hurricane sandy are about two times more power outages versus what we saw in hurricane katrina. when it comes to the number of homes destroyed, 50% more homes destroid in hurricane sandy versus hurricane katrina cat. hurricane katrina claimed for lives. 1866 people were killed by hurricane katrina. versus 185 deaths from hurricane sandy. destruction and damage governor cuomo may have it right. as to who pays for it? ordinarily the u.s. government picks up 75% of the tab for restoring government services including things like mass transit. as for now both governor cuomo and governor chris

the latest from our own liz macdonald in new jersey for us.ke a look at the winners on the nasdaq. [ male announcer ] this is joe woods' first day of work. and his new boss told him twongs -- cook what you love, and save your money. joe doesn't know it yet, b he'll wk his way up from busser to waiter to chef before opening a restaurant specializing in fish and me from the great northwest. he'll start investing early, he'll find some good people to help guide him, nd he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. dennis: a gasoline shortage is getting work from the northeast. liz macdonald is live with a gas station in new jersey. >> good to be with you, dennis and cheryl. what we are seeing is tempers are slightly flaring on the gas lines here. people waiting about two hours. i want to take you to a driver, we are seeing increasingly people from new york state to upstate new york into north of westchester coming in. good to be with you, how long have you bee

stuart: and we feel like europe, liz. >> yeah, and how much-- it's liz macdonald here.h is the media to blame here for in the explaining mr. romney's message because i've got to tell you something, in 2000-- the early part of the last decade, senator obama backed legislation in the state of illinois to bring private equity and venture capital money into the state of illinois. how much is the media to blame here? >> to some extent. it's romney's problem. if the media is not here to do the job-- >> i'm not saying that. aim he saying to do fair and balanced reporting. but the media, if you think the media is biased, the medias always has been biased against republicans. ronald reagan faced more than mitt romney. you have to stay ahead of them and they have failed to do that. stuart: okay, let's talk about the poll this morning from rasmussen, 49-48 for governor romney. let's talk about the enthusiasm we've seen among the crowds, especially last night in pennsylvania, which i thought was really striking. i think maybe you're underestimating romney's showing. i think he'll s

what does liz macdonald thing? she is here with the bottom line.these guys in wall street are looking at the earnings in the s&p 500, 38% b revenue or sales estimates and also seeing earnings are down year-to-year and all seceding for example 58% of the countries in recession, a big debate, putting out a preliminary warning the u.s. economy is heading into recession. what you are talking about is how companies are pulling back and we are seeing that. look what s&p is warning about, dividend cuts. u.s. companies cutting their dividends, the number of companies rising look at the recession indicator, the u.s. economy could be entering a recession as more companies cut their dividends and that includes companies like atlantic power, best buy, all sorts of companies doing that. the recession risk is rising according to first trust adviser and that is a debate on wall street. whether we will see one quarter contraction meaning the fourth quarter. connell: we keep asking if the fiscal cliff doesn't get sold we run the risk of heading into recession but y

liz macdonald will be here next with that story.ley mentioned it earlier, drought conditions turning worse around the country. how will it impact your grocerisy bill if it isn't high enough? as we do every time this time of day see how oil is trading. up slightly. $88.91 a barrel. we'll be right back tracy: so president obama continuing to push tax hikes on the rich as part of the big fiscal cliff deal but will raising taxes on the wealthy actually help the government in covering its debts? i'm thinking not. liz macdonald is here with her bottom line. >> take a wild guess. if you raise rate on two top brackets how much does it bring in? it brings in '82 billion. guess how much in terms of government spending in term of time frame it covers, a month, a year? ashley: five minutes? >> pretty close, ashley. look at this. ashley: what is it? >> covers 1 1/2 weeks of government spending at current rates. ashley: that's it. >> when we talk about the fair share, tracy and ashley, you never hear the president say this what the top 1% pay. in

liz macdonald spoke to people who were boiled up but they were left behind and lied to. >> what do you make of fema response? they have evacuated by the way. >> is not helping out businesses. but only the homeowners. i pay taxes fema goes to the bank to get a loan. >> how will you rebuild? >> you take it out of your own pocket hopefully will get back. gerri: baby mitt romney was right. the lack of the press and other problems facing residents a desperate need for gas as 1/4 of the stations are out now people are returning to the black market some are flocking to craig's list to buy and sell gas. our senior petroleum analyst joins me now. how serious is the black market? >> in your city the five boroughs only one-fourth of the stations have gas. more stations regionally do but t is hard hit here in w york city. people trying to sell gasoline as much as $70 a gallon. gerri: $12 a gallon, 13, $20 on craig's list. people will o almost anhing they can. what are you seeing? >> we have seen so many different things. people are starting to do it. folks are getting desperate but there is gasoli

liz macdonald, you have been in staten island many times.'t think many people outside this area really understand the extent of damage done. i think was worse than katrina. liz: it is in many respects worse than katrina, more power outages, more homes destroyed. that meeting was a mob last night. people were brought to tears. we only got $150 in insurance checks, 700 people, lashing out at both sides of the aisle, doing things like telling people the air quality is okay when it is not. this is coming at the time when the fiscal cliff negotiations, this shows a perfect example of the distractions focusing on big guzzler sodas or bicycle lanes in new york city when this is what the government should be doing, protecting people from natural disasters. stuart: why would you expect the government to be the best agency to take care of emergencies like this? is the only agency, i understand that the government does not do a good job. why do we expect them to be stellar, efficient performers? liz: clearly lowering expectations shows in disasters lik

liz macdonald, gerri willis join the company. that topic, berlin wall next. [cheers and applause] stuart: that was wonderful. 23 years ago today began the demolition of the berlin wall. for those of us who spent their adult lives feeling the impact it was an extraordinary event. back then, america was a leader of the world, accomplishing big things, great things. quick comment, gerri? >> this was the power of personality. this wasn't a big spending program. this was ronald reagan saying tear down this wall. that is exactly what happened. >> the irony it was symbol for decades of division and idealogical antagonism. when it camed down ushered in policy of detente and constructive engagement. this is symbolic day for congress. should listen to what happened in the aftermath of the berlin wall. stuart: this is symbolic day for president obama. what ajor thing will he accomplish? what major statement to our enemies and rivals overseas. >> you, president obama and congress tear down the wall between you two. stuart: oh. >> you really that is going to happen? i'm n

connell: we have liz macdonald in staten island, one of the hardest-hit areas, here comes the weather again. >> we are in the heart of the business district less than a mile away, the oceans it's beyond this neighborhood. they have evacuated this narrow road and you see fire department trucks worried about gas leaks. they don't want another breezy point situation with houses exploding. so we come here to joe's lobster which has been running for four decades and continuing to rebuild even through the nor'easter. i will show you how hot the water came in this building, the water came through the sewage pipe in the plumbing system, up 5 feet. we will show you the watermarks. look at this water mark here. that is how high a water came in joe's lobster house. you can see in this building they have started rebuilding, putting in drywall and trying to get the business back up and running because what is going on is fema has evacuated, got 19,000 people without power in staten island and what the owners of joe's lobster tell me is the only way to get the community back up and running is get t

macdonald? where the twinkies ago? lizs failed because hostess said to the union, went on strike against hostess plants across the country, we want wage concessions and pension cuts down $25 million from one hundred million dollars the year, health benefit cuts 17% in exchange, more representation and have a 20% ownership stake in the country, the union rejected that. now 18,000 people could be out of work, hostess is in liquidation, 600 plants and stores and bakeries across the country being liquidated but there the silver lining, some buyers potentially coming to the rescue. we have breaking news out of hostess's bankruptcy court saying they had a flood of inquiries and also that hostess brand advisers saying someone, the drake plant yesterday. some people being talked about, potentially acquiring twinkies. the private equity company, metropolis and company already own chef boy are the and bubble to the, flowers food, kc cakes and brand names like blue bird and others. interesting stuff. there may not be the end of twink

liz macdonald is here with emac's bottom line. lizzie, look, jersey too. i can tell you, i can't brag about my electric company. >> i hear what you're saying. governor cuomo really ratcheting up the rhetoric really blasting the utilities late afternoon yesterday. here is governor cuomo. >> to say that i am angry, to say that i am frustrated, disappointed, would be the understatement of the decade. i think the utility companies have not performed adequately. i promised the people of this state that they will be held accountable for their lack of performance. >> the governor is saying they don't have a god-given monopoly but there are regulations coming. here is the scuttlebutt from utilities. there may be a push to bury power lines. texas and florida, doesn't work. in katrina didn't work. when you have to dig them up to more expensive. concrete utility boss, not wooden one. 14 foot plus and higher waves. drone aircraft may need to be purchased by utilities to detect hot spots and bigger work crews. on top of that fines. possible revocations of licenses at a

liz macdonald, what are they saying? liz: walmart is saying their customers don't want to see tax increases. and now cbs, it is unusual for walgreen to wade into this public fight over the fiscal cliff, they have not spoken out before and they are sayg essentially our customers are hardworking american families and they do their own budgets. where were you, washington d.c. doing your own budgeting, their confidence has been tested time and again, persistent high unemployment and fragile economic growth and customers want to know d.c. is working on their behalf and walgreen stepping out saying customers need clarity. gerri: every company out there, if there saying anything at all they are saying do something. it breaks down after that. some say i want to make more taxes and do not raise taxes. [talking over each other] >> walgreen's is saying we want to make investments to create jobs. what you guys in washington d.c. are going to do, what is coming down the road from you and we had this debate about john boehner basically

liz macdonald thanks for that. melissa: here with the very latest on the gas shortage is the executive director of new jersey gasoline convenes automotive association which represents a thousand gas stations in the state. sal, thanks so much for joining us. you're on the phone. we appreciate taking time away from everything you have to do right now to apprise us of situation. i will tell you governor cuomo is saying now he thinks the shortages in the state will begin to ease. that tankers are make being their way into the harbor. he says, quotes millions of gallons are through the harbor and going into the distribution network. do you take heart in this? will this solve the problem? >> that is not going to completely solve the problem. it is certainly good news but there is still going to be difficulty unless power can be restored to the distribution centers where the trucks are loaded. if they don't have power, the trucks can't be loaded. and further down the line, once the trucks are deliver the product to the ga

dave: liz macdonald never holds back. liz: it is surprising.rom the usual suspects, council on economic recovery and the like. walmart is saying our customers don't need the uncertainty over tax increases. cbs in in -- pointed language, our hard-working families, customers, they are making decisions on their own budgets and their confidence has already been tested, they are facing persistent high unemployment, fragile economic growth. our customers want to know that d.c. is working on their behalf and look at what walgreen's is saying. the top executive saying our customers's health care needs are met by walgreen's. we have to avoid the fiscal cliff. it is critical, it is 50. we need also for us as a business to have fiscal clarity so we can make the investment to create jobs and economic prosperity and in order for us to meet our needs what is interesting is we have representative john boehner talking about putting obamacare in the fiscal cliff discussion and they did not come downie their way on that but they are stepping out talking about th

liz macdonald was right there in queens. liz: that is right. this normally is a beach area. now is a mile and a half, temporary but new and stunning landfill with some really shocking images of debris from 11 or 12 pounds in the ariane and the business district ending up here. looking in the distance using lawn chairs and photo albums and santa claus statues, christmas toys, children's toys, children's car seats. of truly heartbreaking scene out here and as we have been here throughout the day this file is reaching three stories high. it has 350,000 tons which is the weight of the u.s. space station out in outer space. i covered katrina and the debris buildup in katrina, we interview the new york city fire chief and former fire chief that oversaw 9/11 and also the chief of sanitation, this clean-up is bigger than 9/11 and bigger than katrina. what we're seeing throughout the day, 1800 trucks, sanitation trucks working around the clock, full tilt since sandy struck and removing garbage and debris to bring it out of state into pennsylvania and basically you will see publicly t

liz: liz macdonald live in staten island with the fox biz crew. liz?good to be with you, liz and david. we're? zone a of staten island. we're in a business district, of the business district of staten island. there are coastal flooding warnings. behind me essentially a stream of traffic. people have been advised by the mayor to evacuate. what we're seeing here off to my left is a block where, get this, guys. 1-foot wave, from the ocean which sits less than a mile away down the block, came from up the block, let me set the scene. came into this parking lot and hit these businesses here. you will see right here, liz and david, look at this. the wall of water blew out this window and storm surge basically went into the building. also the problem for this area, which by the way this whole neighborhood behind me is evacuated. the fire department is worried about gas leaks. they don't want another breezy point situation. what we're talking about here is also the storm surge came up through the plumbing. and so you're going to see here a water mark for how hi

liz macdonald did. she joins us now with her bottom line. interesting.ne thing passes but creates a lot of other questions and concerns. >> that's right, ashley and tracy. sort of like moving in fits and starts. that is why, pot is illegal on the federal level. so you know, banks can not step in if they're federally licensed or federally insured, to help process the revenues from pot sales. so dennis kneale made a good point. they will to use paypal instead, people who deal in pot. the issue though essentially the governor of colorado is saying look, don't break out the cheetos or the, you know, the goldfish too quickly here because this will be an issue even though $1.7 billion business. the recreational sale and, use of pot hasn't really been done before. we had medical marijuana as you know. 18 states and d.c. other issue, guys. this is a problem, that is the crime has broken out around the marijuana shops in california. l.a.p.d. and drug enforcement agency seen crime rates since legalization really take off. there is tripling in the number of robberi

and god love liz macdonald.here in one of the hardest hit areas of new york, the rockaways. she will have a live report for us next. let's see how the dollar is of moving against its foreign currencies. euro up against the dollar, look at that. as well as the canadian dollar and the yen all up against our dollar today. we'll be right back. looking for a better place to put your cash? here's one you may not have thought of -- fidelity. now you don't have to go to a bank to get the things you want from a bank, like no-fee atms, all over the world. free checkwriting and mobile deposits. now depositing a check is as easy as taking a picture. free online bill payments. a highly acclaimed credit card with 2% cash back into your fidelity account. open a fidelity cash management account toy and discover another reason serious investors are choosing fidelity. >> at 19 minutes past the hour, hello i'm gregg jarrett with your fox news minute. a source confirming to fox news that the attorney general eric holder was informe

liz macdonald has the bottom line coming up ♪ ♪ [ male announcer ] help brazil reduce its overall reliance country's largest petrochemical operation. ♪ when emerson takes up the challenge, "it's never been done before" simply bemes consider it solved. emerson. ♪ >> i'm robert gray with your fox business brief. stocks slid on growing concerns that law makes will not resolve the fiscal cliff issues that bring on spending cuts and tax hikes years end. president obama's first press conference after the election took a toll on stocks. >>> shares of net apps were soaring. revenue was in line. net app also authorizing another 1 1/2 billion dollars for its stock repurchase program. >>> a strong third quarter from petsmart has that stock higher after-hours. moving forward the pet store retailer sees growth in mid single range for its fourth quarter. that is the latest from the fox business network, giving you the power to prosper liz: well how did limited brands, home of the bejeweled vix torah secret bras. david: cue the video. liz: robe period of time gray. >> you beat me to the punch. absolutely

liz macdonald and gerri willis are here. robert gray on the floor of the new york stock exchange. thank you, ladies and gentlemen, and new at 10:00, and i nomination, government handout to read your aunt than ever to get. the web site welcome to the u.s. a.gov advertises benefit programs to new immigrants. medicaid, food stamps, housing vouchers and the best of all, mad money, $1,000 a month check for a couple called supplemental security income. so is this the best way to say hello to immigrants? gerri: not great for us because it is our taxpayer money. you wonder why there are more people on food stamps than ever before, this is the reason why. when the government get behind a program like this they sat down with the mexican government to figure out how to do it better. it is astonishing to me this is acceptable. stuart: dave: it used the opportunity, not handouts people came here for. housing vouchers, food stamps and this $1,000 a month mad money. what more do you need? liz: all three of us say immigrants want to come here to work. they have built america. people from all part

liz macdonald is joining us live from belle harbor all day with the very latest. this is an area hit very hard. liz, what is the latest? >> that's right, david and sandra. the national guard was taking along with paramedics doing door-to-door search and rescue operation to pull people out of theirs homes because the temperature is dropping. we see st. francis of sale and church grammar school. up to 10,000 people a day are getting relief from this volunteer grassroots disaster relief operation. they're getting food and coats. i seen children without shoes on. a guy showed up with his two yearly daughter with bronchitis, he didn't want to go back to his house without power and heat. we're seeing lines continue throughout the day. i have got a treat for you, david, and i got a treat for you, sandy. david's son is in the marines. sandra i think your grandfather is an admiral. we have a operation called team rubicon, they basically organized, they're the first responder group that organized first-responders. ford and pete, tell us more about team rubicon. >> team rubic

rick: liz macdonald. you hear talking points from both sides.nt to try to get down and drill to the facts. you have the president drawing a new line in the sand according to a lot of headlines this morning with plans to open up friday's fiscal cliff negotiations with absolutely no concessions on the table and far more in new taxes than republicans have said they're willing to even consider. so we have some breaking news. we'll get to that in a minute. jenna. jenna: i guess we'll go down live to d.c. now. we're waiting a press conference. there is senator mccain, ayotte and graham talking about the future of the benghazi investigation. let's take a listen. >> establish such a select committee and we will urge the senate leadership to act on it as soon as possible. while we await the findings and recommendations of the administration's internal review of the benghazi attack, it is essential for the congress to conduct its own independent assessment. let me be clear. there is no credibility amongst most of us concerning the administration and the n

liz macdonald says that isn't necessarily a bad thing. she is joined by lori rothman as well. h your tough love approach as always, being the wicked genius you are, you are saying tough love might be okay? >> i don't want to sound like a heartless, mean person, here. neil: that we know. >> that we know, you're usually acquainted with, the common sense tells you and studies after studies have shown, studies in denmark and universities the longer people are on unemployment the longer they take to look for a job. they wait until the very end to look for a job. three months into unemployment benefits that's when you're job prospects get even worse. the lomger you are in unemployment the worst your chces of finding a job. the other part of this is problem with california is, and a lot of states, california is borrowing from the federal taxpayer to pay for its jobless benefit insists state, something like 10 billion bucks. that is raiding other state fund to pay interest costs on that. raiding transportation funds or disability funds for other taxpayers. that is bad thing as well too

our very own liz macdonald joins me from queens with the untold story. this is the irreplaceable cost of the hurricane. lists? >> yeah, that's right, melissa. this is usually a beach area. this is jacob riis park, sits east of breezy.and west of the rockaways. what we're looking at, melissa, is a growing landfill. this is heartbreaking and shocking sight. we're talking about debris from 11 towns devastated by hurricane sandy. it is not just neighborhoods but entire business districts is ending up in the temporary landfill that grew up out of nowhere. grew up suddenly last 3 1/2 years. it is a mile long. it is about the weight of the u.s. space station and bigger than the weight of the empire state building. what we're looking at, melissa, around the clock. 1800 garbage trucks have been moving in and out bringing in debris. they have been going full tilt, 24-7 even before the hurricane hit. what we're looking at, using sand on the beach blocks, that ended up from, you know the flooding and they're using it as what are called berms to stop any hazardous wa

liz macdonald is on that, thankfully.nd demanding the president take action on the keystone pipeline. he is our special guest ahead. and of course you will address the fiscal cliff. as we do every day at this time of day, let's take a look at how oil is trading down slightly. we will be right back. >> it is time to make some money with charles payne. he is here to help us make some money off the rail. first a little bit of a follow-up, something we were talking about last week, right? charles: i said one of these plays, reporting it could be end up bid or down bid. typically i will do that with the higher risk guys. you don't sell it yet. i don't have the companies going out of this, it is an overreaction. i woull not add to it at this moment. tracy: zale jewelry store, men who are last-minute shoppers will run out and buy season jewelry, so i still think you have time. charles: and i am one of those men. in the meantime i will go a littllittlebit more conservativs idea. a railroad play. tracy: are less conservative play

a liz macdonald is back from staten island. welcome back. stranded island. david asman is with us and nicole petallides on the floor of the stock exchange. let's look at the beverage company monster. nicole: stock to the downside this morning. we have been familiar with a lot of investigations to the safety of the energy drinks. monster holds strong saying there are no issues with their drinks. there have been hard attacks and questions. they came with numbers smaller than expected profit and spending on promotional spending so we are seeing stock with a down arrow. stuart: republicans and democrats on capitol hill are working on ways to avoid the fiscal cliff and they disagree about it but i am inclined to that tax hikes are coming our way and soon. sofer's to david. you agree with that. dave: not entirely. this is the simpson-bowles report brought out five democratic senators voted in favor of this. this lowers tax rates to a top rate 23%. if you keep -- and keep some deductions. alan simpson co-author of this report says you don't have to raise taxes. go

we're talking billions of dollars, peter barnes in washington with the story we have to say again, liz macdonalded out in 2009, peter. >> that's right, liz. that's right, tracy. liz did do that. what are we looking at here? potentially a government, third government bailout of a housing agency, first fannie and freddie. which got $187 billion from the treasury so far. now the fha could need help from the treasury. the agency insures more than a trillion dollars in riskier mortgages with very lowdown payments, mainly for first-time home buyers. an annual audit released today found that the agency has a $16.3 billion capital short fall because of mortgages going bad. >> let's bite the bullet. maybe recapitalize them to the tune of $25 billion if they can earn their way out reasonably, that's fine. but if they can't, the money is there. let's not try to grow their way out of it which is what they have been doing since 2008. >> but the fha is downplaying the possibility of a bailout, it said it expects to add $11 billion in new capital from the business year ahead. announced a slight increase in fee

and liz macdonald and sandra smith remember the stones in their teenage years, in just a second. >> i's something not quite right about this. the rolling stones kicked off the 50th anniversary tour, and mick jagger and comrades made it through a 20 song set. could they be trying to appeal to a younger generation? i feel there's something wrong guys almost 70, charlie watts is over 70, prancing around on a stage with high sexuality songs and they're nearly 70 years old. >> so what? >> yeah, so what? >> why does it bother you. >> juxtaposition like paris hilton selling handbags in mecca. >> i don't mind that either. >> a rough crowd because we both disagree with you. they're playing familiar songs even people i would know from the rolling sounds and sound great and energy level was high and attracted a strong crowd and, hey. stuart: name two rolling sonton songs. >> honky tonk woman. >> and sympathy with the devil and get off my cloud, are they good in concert or are the studio albums better than the rolling stones in concert. stuart: they're not good in concert so i'm told. >> i've see

liz macdonald is here now with emac's bottom line.h my, when it comes to the numbers good luck trying to sort them out. >> that's right. it is so confusing for viewers weill clear it up. what happened was, adp, a big payroll processor. they put out a monthly jobs report watched on wall street. everybody knows it is pretty volatile. they didn't realize how volatile because adp revised its numbers. hooked up with moody's analytics and did a revision back to 2001, 2001? >> 2001. starting from january to now, they said hey we could have possibly overstated our monthly jobs figures by 341,000. so they revised it lower by 24%. instead of 1.5 million jobs created since january, it is actually 1.2 million jobs. on a monthly basis that is 133,000 jobs a month, not the previously reported 167,000 jobs. i'm telling you this is a big debate and a big tempest going on wall street between economists i'm talk to. we got reaction from an analyst named david sloane at forecast. he is too is dprap pelling with the numbers. here is david sloane. listen

liz macdonald is live from staten island for us.ive us a sense how people are feeling today, if relief and recovery is making any progress or they're just battening down the hatches all over again? >> that's right, lori. we're a mile away from the ocean. we're in the heart of the business district on staten island. snow is coming down, big flakes. we're outside a small business that has been here since the 1980s for three decades. it is a family-owned business. tell you something, lori and tracy. look at this, you see here, a six foot wave took out the window of this is about. you will see a water mark right inside here right behind the door where the water stayed flooded in this business right up here about five feet. so what we're talking about here, is the pool and patio. we'll talk to kenny. his father, charlie is right back there too. kenny, how is it going for you? what is your reaction to the nor'easter? >> i'm concerned. we don't need anymore water now. poor people out there with no homes and they're out in the snow. >> kenn

liz macdonald is there now with more. liz? >> reporter: yeah, that's right, jenna. we're in the heart of this operation. it is a new debris dump is basically holding now about 11 towns in the rockaways worth of hold neighborhoods, business districts and it is basically about the size of 10-foot ball fields. it is grown to be about two stories high. the weight of it, what they're processing here is equal to the weight of the empire state building. possibly approaching the weight of the space station out in outer space. i'm picking up here, family photos of people, seeing their whole lives in this dump, jenna. we're in the heart of this operation. basically the sanitation workers are now what is being called the new first-responders to disasters. and they're getting high praise and we're hear with chief joe hickey who is basically overseeing this operation. how does this compare? you worked on the cleanup of 9/11. how does this compare? >> logistically it is a different ball game. this is much baker scale operation but, we're on top of it from day one. >> reporter: je

. >> i'm liz macdonald with your fox business brief.tocks continue to drift between gains and losses. just a day before the presidential election. right now the dow is down about 7 points to 13,086. some low wage employers are reportedly shifting full-time positions to part-timers in order to avoid the effects of the president's health care law. under the reform law large companies must provide health insurance for full-time workers or pay a tax. according to "the wall street journal" some companies are highering more part-time workers instead and limiting hourly employees schedules to below 30 hours a week. >>> disney's wreck it ralph had a strong debut taking in more than 49 million bucks. it not only took the top spot but best opening weekend for disney animated feature. that is the latest from the fox business network, giving you the power to prosper melissa: with one day until voters head to the polls we want to know what is the one thing that could tip the scales one aor the other? lou doobs is here with his take. this segment was

liz macdonald has the details from the fox business network. liz? was a stunning reversal of what the international energy agency said a year ago, jenna. that basically saudi arabia and russia would vie for the number one spot but now it looks like it will be the u.s. although the report does warn, listen the oil and gas boom in the united states is still in its infancy but u.s. crude oil production is up 14%. now there are moves afoot to basically stop the development of the u.s. oil and gas industry. number one, this is what the oil industry is talking about. that basically the interior department is moving to shut 1.6 million acres in the west to oil shale development. it would leave open 677,000 acres open in colorado, utah and wyoming to oil shale development and another 130,000 acres to tar sands development in utah but there will be, separate from there, there is going to be a protest at the white house scheduled for november 18th by environmentalists who are upset about u.s. oil and gas production. they're essentially saying, look the glacie