in exchange for financing, many state-run research facilities allow pharma firms to acquire the sole patent rights. these companies alone determine the price of the drug and what diseases will receive priority in future research. >> the diseases which affect poorer countries are often the neglected ones -- the infectious diseases, tropical infectious diseases and poverty- related illnesses like tuberculosis. these are diseases that practically never occur here in germany, which is why the profit-oriented pharmaceutical industry has no interest in them. for many decades practically no research was conducted in this area. >> that's why pharma firms invest in special programs and specialized research facilities. they know that these are developing markets. places where economic strength is increasing are the markets of the future -- and this is the way to tap into them. >> but now india has declared war on the pharmaceutical industry. for years this emerging economy has been producing large quantities of generic drugs -- copies of brand-name medications -- in violation of patents held b

i don't want 1.5%. >> two big pharma names getting big pops today. courtney reagan. >> take a look at these two names. gillead and cell gene. gilead announcing positie ining results from its hepatitis c drug. cell gene announces its experimental pancreatic cancer drug also has improved survival rates. there are very little treatment for pancreatic cancer now. both those stocks getting a pop. >> doc, do you have something? >> gilead, scott, i do. that one blew through the 52 week high which was around 70 bucks. blew all the way up toward 73 here. they're buying 75 calls. buying 70 calls. they're betting that this move continues. and it's one of those pipeline plays that pete talks about. whether or not they're the one that continues to develop the pipeline or whether they get acquired, that's always something you think about when you have a successful billion dollar drug like this. >> pete and then guy. >> go ahead. >> what i was going to say, gilead we've talked about forever. an all time high, i believe. if i had to pick between the two today right

>> reporter: as it turns out, sheila davalloo also worked at purdue pharma.petent biochemist and researcher, friendly, social, really smart. >> she was very successful. a lot of promotions in the company. >> reporter: the story about sheila and the knife swept through the office. >> i've never heard of anyone getting stabbed in my life and here it is two stabbings in a short period of time. and they're both connected to nelson? something does not make sense. >> reporter: that's pretty much what detective carpentier was thinking. they asked nelson sessler to come back for another interview. investigator tom mcginty was there as well as sessler admitted that he and sheila davalloo were friendly. >> he was talking about how they were such good friends and used to go skiing and she had purchased two dogs. he would go over to her house and walk them for her. finally i said, nelson, nobody is driving from connecticut to westchester and not getting laid. finally he admits that he was having a sexual relationship with sheila. >> this was a bombshell. nelson was now a

as far as pharma stocks, we stay with obama medicare, so no major changes in care. european farmers a little bit firmer. energy stocks with energy play, seeing oil prices weaker this morning. the focus back on demand fundamentals and it just means with obama staying as president, probably takes a little bit of heat out of the geopolitical tension. as a result, chevron slightly firmer. the oil price is down, though. exxon down one and a quarter here. but essentially the tone this morning has been a mild risk on. relief that we've got a decisive result and, of course, it also means that fed policy stays in play for quite a bit longer. back to you. >> yeah, as some have argued, the federal reserve remains the most important institution in washington. now joining us is the managing director of capital alpha partners for a little bit more about what to expect in markets here. we've now removed at least one source of uncertainty. does this mean markets can rally into year end? >> well, i think so. what we're seeing is an outcome that's largely in line with expectations an

financials are like that pharma is like that telecom is like that. all in this category where there was dividend growth, dividend yield and big gains so far this year. >> particularly with the financeal, short xlf, shorted it a couple weeks back, such of a run-up in there too much for net interest margins declining, potential for regulatory issues, for the capital markets, business dying. so you get that and today with the elizabeth warren election that has every not be financial area wondering what is their business going to look like. had ubs to close down their investment banking division, fixed income area, really seeing this restructuring, not much where is a bank going to make money the next six months or a year. >> end of the road for financials, grasso? >> office afraid of them going into the leeks, but tough to trade them off of politics, everybody thought they were going to get slammed under obama. hitting the wall again, regulation is going to be mountain going forward. take it as a mandate. >> drilling down on more postelection day movers

there are a lot of big pharma stocks. what abbott has is two catalysts, one is now and one in a couple days. the first catalyst, it's the breakup. new year's eve when everybody else is in the business world counting down to the horror of the fiscal cliff, abbott will be on the verge of this corporate divorce that should create enormous value for shareholders. that's right. they set a date on january 1, the company will officially break itself up. and this is the thing we have been waiting for since i initially recommended the stock last year at this time. the whole point of the split is they have the fastest growing medical products business being held back by a slower growth pharmaceutical business. after the split, you're going to have two separate publicly traded companies. abbott's pharma business and that will be called ab v and then there is abbott labs. that will be a play on diagnostics, generic drugs and medical devices. why do this? the idea is that after the breakup, you can have two companies that each appeal

pharma company vivus says its weight-loss drug qsymia does not have enough support from insurers, and that is forcing nearly one in five patients to say no to the drug. vivus reports in the third quarter the drug generated only $41,000, down substantially from the $310,000 projected. shares fell 26% yesterday, closing near 11 dollars. in july, shares hit a 15-year high of 31 dollars. in earnings news, aol posted a 7% increase in profits, mostly from ad sales. it's the biggest gain in months. the company expects further growth in 2013. sales fell 11% at express scripts. the prescription company blames overly aggressive estimates and the economy for an earnings miss. office depot and office max had slow third quarter sales, but both stocks rallied on rumors the two will merge. and weight watchers stock gained 16% after the company topped estimates. it's prime time at amazon. amazon will begin testing a new price plan for its movie and tv streaming, known as its prime service. amazon plans to charge $7.99 a month for prime. customers used to pay $80 per year, similar to its competitiors

just like a pharmaceutical company so we need distributors pharma additional events are good for attracting investors. many times. using our technology we have money. for the rest we still need to find. the country. as a kind of clearinghouse for tomorrow and one of those is photonics whose roots were laid in russia but it's exploded into an international player. the firm has developed a new kind of laser scalpel for dental surgery you could find uses just about anywhere that doctors currently employ a blade. well . they did have a very good reason. on the first a total of ten russian companies were singled out at the tech success. organizers designed the competition to acknowledge the country's fastest developing and most innovative small and medium sized businesses as well as boost their profile on the world stage coming into the ceremony the list had already been whittled down to thirty companies which represented the entire spectrum of industries and regions across russia to. create a company hardware maker enter school and a handful of medical firms on the lookout for the next device a

i think sectors such as pharma, specialty and big pharma, i think reit sector is very interesting because they can take advantage of the low treasury rates, and i think in the tech space there are a few opportunities but very selective to a handful of companies. >> i'm going to look at you here, joe. bellwether stocks and what they say about the nature of the market. years ago ibm was the bellwether stock. for years general electric, our former parent company, was the bellwether. now apple is with this huge rally today. i know you're a little skeptical about what this rally's employ tod -- about today. but do you follow it? >> i think everybody will agree on the cause but it's the longevity is where i take issue. apple will remain a proxy just because it has, obviously, enormous cash hoard. people are talking about what the dividend will look like. is that going to grow? plus we're only a few week as way from the retail spending going to go into all the new products. that's a perfectly positioned stock. i really want to have one more argument. the president has said he wants to bring jobs

. >>> and could big pharma have something in the pipeline to keep men from cheating? well, a small new study showed men in relationships who were given oxytocin stayed farther away from unknown, attractive women. >>> well, a wild turkey strikes back just a week before thanksgiving. we'll show you the video. >>> plus, the thrill of a lifetime for one 9-year-old boy. great story. details are next. you're watching "early today." >>> other stories making news on this thursday in america. a massachusetts er doctor has pleaded not guilty to charges of being drunk and drugged as her vehicle sped out of a parking lot and slammed into another car last friday. look at that. police say the 56-year-old woman then tried to leave the scene. one person was hospitalized with injuries. the hospital where the suspect works is looking into allegations that she was writing herself prescriptions. >>> all right, next to connecticut, where a fearless wild turkey tried to pick a fight with drivers just one week before thanksgiving. the bird, who has a history of violence, approached and peck

. >>> and could big pharma have something in the pipeline to keep men from cheating? that's right. a small new study found men in relationships who were given oxy toes instayed far away from unknown attractive women. how about just stay away from them? >>> coming up, a wild turkey strikes back just a week before thanksgiving. we'll show you the video. >>> plus, the thrill of a lifetime for one 9-year-old boy. we'll have details next. it's a great story. your watching "first look" on msnbc. >>> we begin with a deeply motional account from the homeowner who's indianapolis home is believed to be the epicenter of that deadly explosion. in the wake of the powerful blast that killed two people and leveled an entire neighborhood, monsy shirley endured questions and speculation about her role in the explosion. >> people keep asking me questions and question. like i know something. i don't know nothing. >> all right, next to connecticut where a fearless wild turkey tried to pick a fight with a driver before thanksgiving. just one week. the bird who has a history of violence approached and p

andrew pharma the r.t. catalonia. and apollo if only the founder of the brussels based think tank the cheapie foundation says the mistakes by spain's central government put catalonia future in question. but a large majority of the people in capitol hill who would like to be dependent from speed they are never accepted want to be their feet after the eighteenth century and it's a should. get a little in. the economic situation of course very difficult because. they're going to have to ask for a bailout central government reads two months ago or one building years most recent happens because of the very bad mismanaged that the central government in the fear started looking back that triggered this deficit situation that allude to the loonies anyway. he does through area it's fate and he's the only one that can mention we can keep it's great so we could burst your of. course you should it was worth mentioning the record doesn't also allow for us apparently some. beyond is quite unpredictable but i would say that will tap

immunizations in the developed world have all but a bullet or rated them dr krishna ella believes the big pharmacompanies haven't really dived into creating products for developing markets because they haven't had the financial incentive and that's why like many of his fellow indian entrepreneurs he decided to look into it himself there was a lot of the focus of that short our shareholders are good in mind but there was a value in research for one billion dollars on a product i made a five billion dollars says because there's nothing going. on with them are going to be well more focused on the negative this is because it's not a global importance india's leap into innovating for the under-served began when the country began complying with the global intellectual property law it forced them to stop making only cheap copies of existing drugs and branch out instead into new research and development creating vaccines isn't the only way to battle neglected diseases diagnostic tests are also key to identifying what the problem is this fabric chip is being developed here to chair a lab in bangalore the

you mentioned big pharma a couple times. i wanted to ask more broadly if the panelists could say a word or two about the role the private sector place in working with the u.s. military in efforts to export our body of health-care knowledge to other countries. >> it was addressed to me. operationally i am a big policy wonk. i very rarely had an opportunity to engage at the ground level, only get reports from the ground. i know that there are a lot of non-governmental organizations which would include industry partners that offered generously their resources to support the needs of the affected population, whether it is drugs or supplies or whatever. there are innumerable organizations out there that specifically their mission is to receive, process, and delivered donations, both financial, personnel and material to those who are making decisions on the response. specifically, i get below the state level and -- >> down in the dirt. most of our experience has been during routine engagement missions that more specifically during

the lonny of spain's riches region and the main contributor to the country's economy artie's endure pharma is in barcelona. well people are voting today in an election which could represent a step towards any final breakup of spain and it is because the cattle on president aftermath his promise to hold a referendum on independence from spain it is convergence and union party actually wins and that is something that is striking a chord with many cattle lands the region itself a wrist pretty wealthy it has an economy the size of portugal's but it pays far more in taxes to the spanish government that actually receives back in terms of investment from from madrid and that is something that annoys some people here unemployment is at around twenty five percent and also people are having to endure tough austerity measures at the moment but nothing is a done deal because after mass doesn't need to record an absolute majority in order to be able to push through this referendum otherwise he would be forced to form some sort of coalition there is a sticking point to him that the referendum is actuall

andrew pharma the r.t. catalonia. our web site r t v dot com you can read all about the latest scandal which is hitting all the headlines in the u.k. where children suffering are suffering from political games for grownups. that's after a foster family is torn apart after local authorities aside the parents' membership in the u.k. independence party makes them unsuitable as pairs. plus it's bought or die on line we have a video and the story is of black friday nightmares that show how so many americans who are so keen to move from thanksgiving to shopping hysteria. the opposition in bahrain has valid to resume peaceful street protests to defy a ban on public gatherings imposed last month the ruling family has claims that the restrictions which sparked criticism from abroad were necessary in order to restore order a u.n. team is set to visit early december in order to assess progress towards as promised reforms and a follow up on a similar mission at the beginning of the uprising some nineteen months ago now this comes

andrew pharma r.t. catalonia. more on this let's not talk to us is a sociologist from university in barcelona so carlos you are very in the city how did the but georgie of catalans view this upcoming vote. well it's a very conflicted situation right now the issue that's kind of overarching throughout the elections is sort of cattle on independence however there's also. a lot of sentiment against out of total mass by people that are not sort of. his parties i guess immediate ideological range i mean he just had a general strike against him on the fourteenth of november that also drew nearly a million people into the streets so the problem with this is that between the the nationalist sort of sentiment and the anti austerity sort of majority view their opposition to a lot of the mass is either confused or doesn't really have a referential point in the form of a political party to vote against him so he sort of has the strongest group out of all the electoral formation well this election was called two years early al

young companies, today, large pharma has a different approach.y are looking to partner with them. they, too, want to keep the innovation available. liz: there he is working with government, but as a private citizen funding all these ideas. wade into you here what michael milken has to say about the fiscal cliff. in terms of what it would do to funding and research and development. that is coming up in the next hour on after the bell. you cannot afford to benefit. this guy did jail years ago with what was happening in the bond market, but having turned that around and starting to invest in diseases and cures that could save you, is pretty fascinating. you have to hear what he ays about the fiscal cliff. closing bell ringing in 39 minutes. can washington get its act together? nebraska, they are calling it, though farming cliff. all these subsidies for their farming. how that state is dealing with all the uncertainties. a fox business exclusive. we will wrap up our governors on the edge series. only on fox business. ♪ liz: are you sick of the fiscal

it also tells you what is big in the pharma pipe. and humana has an investor day next tuesday. this stock has been trash. sell sell sell! got hammered more than any other when romney lost the election. it doesn't have a game plan for obamacare. i think it does, and the stock could react positively. that's another trade besides petsmart and ross stories. the fiscal cliff is a serious probable but you can't allow yourself to become so pessimistic that you lose sight of all the opportunities out there or the fact that as weak as things seem. while we have an audience filled with veterans, let's start with a question that comes further away from home. take a look. >> hey, jim, sending you horned frog boo-yahs from kuwait. now i'm an army reservist and we're redeploying next year. i'm going back to my job in the defense industry. what do you think defense contractors are going to be like next year in the stock market? >> it's a great question. this is the group that hangs most in the balance by this issue called sequestration. it's the defense spending budget that will be cut so tha

the pharma guys didn't get it. that's why gilead is up seven. bob came on "mad money" several times and said when the stock was down here, he's amazing. when the stock was right here, he came on and said this is wrong. we have so much in the pipe. turns out they bought this company that had this drug and it's been a great anti-cancer drug. pancreatic cancer, horrendous cancer. didn't think there was anything for it. they have something. it's working now. i don't know how long it will work to save people's lives. it's a huge company and a big gain. i'm urging people at home, do not give up on stocks. it is true that we could really fly if we solve the fiscal cliff. they are everywhere. you have to know where to look for them. >> a downgrade today at jeffries in which they say companies having to lean more on pharma because of the weakness. >> what i see in j&j they are hung up on government. i disagree with the downgrade. you have a guy in charge at johnson & johnson. this is not the same j&j. this is not the problem where they had a pharmacy fac

we do see an improvement in the new product portfolio in pharma and biotech.zer got an oral rheumatoid arthritis pill approved. we have innovations coming and i think the outlook relative to the environment that we see broadly in the economy and other areas of health care is probably the most visible. >> specifically for pharma, i'm an investor at home. i invested because they have terrific yields. they have seen huge gains for the year and big dividend yielders. potentially taxes could go up a lot on these particular stocks. are there any you think will be particularly susceptible to selling into the end of the year? are there ones where historical valuations are stretched and so they might be the focus of more selling than others? >> i guess that's a good point. i would point to a stock that has had a big run based on opportunities for alzheimer's disease and their new product portfolio. that may have a big impact in accelerating earnings past the patent cliff. again, it's hurry up and wait. there's probably not a lot of urgency to hold onto that one. on the

controls the development of medical devices and drugs and it has become so problematic that big pharmacal tech knowledge he developers are now going to other countries to do the clinical trial in the work necessary to prove that their drugs and their devices work successfully in human. this is a very backwards way of promoting national security in the context of preventing people are inventing technology. it is important that if our industry and the health sector is turning to other countries that we maintain strong relationships and make sure there is a handshake there between our medical professionals and their medical professionals, that were not just experimenting and i think that's an important unintended consequence of our current policy. >> if i could pylon to your question, i see a connection between l. howell, poorhouse, economic activity or a lack of bleeding to an related to lack of education and local insecurities that invites an attention, lack of governance and as we've seen in recent decades, places where insecurity and instability rain are havens for troublemakers and t

over time, pharma, utilities will do well versus the s&p 500. melissa: i don't know. the average investor doesn't want toatch it day-to-day and hop in and out of these stocks. you say it will be volatile. do you gon and stay in or get out and again, buy gold or something like that, just stay on the sidelines? maybe you get out and you buy real estate because that is at a bottom? >> i like real estate too. in fact there is iyr, which is an etf, that is the ticker, that plays real estate investments both on the commercial and industrial side. i'm a money manager, right? my clients may me to go in and out of the market. for the person sitting at home managing their 401(k), look keep putting money in the 401(k), if the market drops it is on sa, if you put money in every month i think you will be happy. melia: scott martin, thank you so. >> see you. enjoy the snow. melissa: thank you. on top of everything else. all rig the election is over and it's time to put the political jockeying aside. no more sitting on the sidelines complaining about political gridlock. what we need

. >> we are here at 91st street in the pharma section of queens, new york. four days after hurricane sandy devastated this community. we are standing next to what was the boardwalk that used to stretch along the beach. the boardwalk now takes up much of the street. you can see it on top of cars that were part here. residents tell us about 5 feet of water poured down the street on monday. today, you see debris in giant piles in front of almost every house. let's go into one apartment that was completely destroyed on monday during the storm. >> i am 51 years old. monday night, i was sitting at the computer. i felt some water at my feet, i went to the back room to get my mop. the bedroom door was closed but the broom and fill with water. i opened the door and the water hit me. i opened up the store and the backyard had filled up with 3 feet of water, and that came in, so i was caught in from the front and back. >> what were your thoughts entering your apartment for the first time after the storm? >> my first thought was, am i going to be able to start over? it

real problem is two unfunded wars from the bush years, the bush tax cuts, and the give away to big pharmathe bush prescription drug program. senator mcconnell, it seems to me like he's up to something here. he knows how far senator bernie sanders and other democrats are going to defend the big three. social security, medicare and medicaid. senator mcconnell is hoping to get the democrats fighting one another on this, over the entitlement reform. but do we have common ground here on day one, let's bring in congressman chris van hollen of maryland. great to have you with us tonight. >> always good to be with you. >> do we have positive move forward? we're hearing republicans say they will give up some revenue. your take on it? >> as you said, ed, most of them are saying the right thing, but the devil is always in the details. and it's important to remember that we already had a trillion dollars worth of cuts to the budget as part of the budget control act. now it's time to take the balanced approach and important to put revenue on the table. so that's what the president talked about during

yeah just big pharma. different drugs run by different people.e question of women, maybe not the question of reproduction but women, sex and sexuality. definitely a fundamental disregard. he should do a rap record. more money. >> i was just about to say everything you just said. that was really well put! thanks very much. you know one of the things -- i want to quickly show this. this is mitt romney. this is c17. i don't know why anyone would want to be president if two weeks later this is what you look like. man! when we come back, poverty and obesity are together. it hits poor communities very hard. our special segment in current tv's continuing effort to fight hunger is coming up next. >> not that good of an example. >> why are you not a good example? >> well, because -- >>i jump out of my skin at people when i'm upset. do you share the sense of outrage that they're doing this, this corruption based on corruption based on corruption. >>i think that's an understatement, eliot. u>> i'm not prone tot. understatement, so explain to me why that is.

real problem is two unfunded wars from the bush years, the bush tax cuts, and the give away to big pharmasenator mcconnell, it seems to me like he's up to something here. he knows how far senator bernie sanders and other democrats are going to defend the big three. senator mcconnell is hoping to get the democrats fighting one another on this, over the entitlement reform. but do we have common ground here on day one, let's bring in congressman chris van hollen of maryland. great to have you with us tonight. >> always good to be with you. >> do we have positive move forward? we're hearing republicans say they will give up some revenue. your take on it. >> as you said, ed, most of them are saying the right thing, but the devil is always in the details. and it's important to remember that we already had a trillion dollars worth of cuts to the budget as part of the budget control act. now it's time to take the balanced approach and important to put revenue on the table. we're asking them to contribute more. so that's what the president talked about during the presidential campaign. he got a go

real problem is two unfunded wars from the bush years, the bush tax cuts, and the give away to big pharmabush prescription drug program. senator mcconnell, it seems to me like he's up to something here. he knows how far senator bernie sanders and other democrats are going to defend the big three. social security, medicare and medicaid. senator mcconnell is hoping to get the democrats fighting one another on this, over the entitlement reform. but do we have common ground here on day one, let's bring in congressman chris van hollen of maryland. great to have you with us tonight. >> always good to be with you. >> do we have positive move forward? we're hearing republicans say they will give up some revenue. your take on it? >> as you said, ed, most of them are saying the right thing, but the devil is always in the details. and it's important to remember that we already had a trillion dollars worth of cuts to the budget as part of the budget control act. now it's time to take the balanced approach and important to put revenue on the table. so that's what the president talked about during the

the two discussed the pharma positions and cohen agreed to the abrupt sell-off and veiled it apparentlyecrecy. i'm told he just learned about the timing of this yesterday and was quite upset. ul up until now, he has learnsed that the implicated employees -- as well as the law and may do so again here. what he knew about the orgin remains unclear. >> what's interesting here as well, kate, from the research and the reading i've done leading up to the comments that we're going to get here from the u.s. attorney from the southern district at the bottom of the hour any minute now, is this this unit of sac, this cr intrinsic has been in the cross hairs before. this unit of sac capital. in fact, they had another portfolio manager charge d and sentenced -- >> donald long well. >> he was sentenced to 30 months for insider trading and there was another situation that centered around intrenzic shares of a cougar biotech. this isn't new by any stretch of the imagination. >> that's right, scott. this appears to be an extension of a case that federal prosecutors have been making for years and i think

elsewhere we're seeing big moves in biotech and pharma. shares are up showing one of its hepatitis treatments had a high cure rate. abbott also presented promising hepatitis c data. analysts say hepatitis c could become a $19 billion market by 2020. while there are already drugs on the market to treat it, there is a strong demand for an easier to take all-pill treatment with fewer side effects. >>> as we have been reporting, the fiscal cliff would mean big tax changes at the end of the year and many with with money are not waiting to find out what happens on the fiscal cla cliif. they are trying to move now to avoid higher taxes then. robert frank is here with me. you've been looking at some of the big deals that are sort of being accelerated here in advance of what might happen. >> many of the wealthy have become sellers after this election. they're selling stocks, they're selling real estate and some of them are even selling their companies. the reason -- yes, taxes. if we go off the cliff, capital gains could go from 15% to 25%, taxes o

biggest gainer here on the nasdaq with a monster 41 million shares traded already today r today, acadia pharmaug trial results positive on drugs to treat parkinson's disease patients who suffer from hallucinations and psychosis. apparently some 40% of them at some point do suffer from that back to you. >> thank you very much. wow, quite a chart to take a look at. >>> our guest now believes the market, will be held hostage until a deal on the fiscal cliff is reached. joe tannious is back with us you can global market strategist at jpmorgan fwunsd $1.3 trillion under management. your sentiment is being echoed by so many very many people on the floor that i talked to and around town, saying that the markets basically are being held hostage at this point. >> in the end, the devil is always in the details and is this deal going to be reached between now and christmas, which would be the best case scenario at this point? what i try to help investors understand as we travel around the country and the help people talk about this if you believe rationality in the end will prevail, safe to assume there

pharma is another one where they're trying hard. info tech, things like google. so i look at all these test cases and i say, if they're going to be able to do this, it's going to have to become a different kind of country, with not so much censorship, with real universities, as opposed to these kind of diploma mills they have. and so, china's ambition to become, and they're going to have to reduce some of the military overhang and some of the security state. so if they can become a real rival to boeing, if they can have a real rival to google, they'll become a different kind of china in a way more threatening, but a way less threatening 'cause a more sort of civilized country in the broadest sense. >> so if you were sitting there with president obama, and he asked you for, "what should i say about china in my state of the union message," what advice would you give him? >> say that we the relationship between america and china matters to the entire world because we'll either destroy the world's environment, or have some chance for saving it together. or else, if w

we are seeing the big pharma companies and most people breathing a sigh of relief that president romney will not try to unscramble the health care egg. it is undervalued compared history. cheryl: nice to see you in new york. we welcome you with the nor'easter later this afternoon and scott martin, unbreakable scott martin, see you soon. dennis: mitt romney is sticking with his republican ideals despite the loss. >> the election is over but our principles in door. i believe the principles upon which this nation was founded are the only sure guide to a resurgent economy and new greatness. like so many of you, paul and i have left everything on the field. we have given our all to this campaign. but our next -- dennis: our next guest says republicans must change. the executive washington editor of the wall street journal, thank you for being with us. we thought the campaign was all about the economy but was the actual outcome about race? >> there will be a lot of discussion among republicans and democrats about what was about and clearly it was about the economy first and foremost but it wa