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tv   MONEY With Melissa Francis  FOX Business  September 27, 2012 5:00pm-6:00pm EDT

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melissa: first, let's take a look at the day's market headlines. stocks snapping a five-day losing streak. a surprise drop in jobless claims to a two-month low along with details on spain's latest austerity plans gave a solid lift to the major indices. dow closed up 2 points. shares of research in motion soaring after-hours despite posting a second quarter quarter loss. they crushed estimates on both the top and bottom lines. gold prices spiked to a seven-month high. uneasiness in europe and major strike by gold miners in south africa spiked a rally. >> in the case of iran's plans to build a nuclear bomb, this bomb has to be filled with enough enriched-uranium and they're 70% of the way there. now they're well into the second stage. a red line should be drawn
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right here. before, before iran completes the second stage of nuclear enrichment, necessary to make a bomb. melissa: that was israeli prime minister benjamin netanyahu calling for a red line to be drawn over iran's nuclear program. that is our top story. netanyahu is taking a tough stance but will the u.s. back him up if israel goes to war with iran? i'm joined by fox news middle east analyst and author of the coming revolution, walid freire rest. thanks for coming back to the show. we appreciate your time. it was a pretty dramatic statement to stand up before the u.n. with his board. it was a little wiley coyote roadrunner with the bomb in front of him. as simple as it was, it made his point. did he make progress? >> he did make progress in
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the sense he finally delivered himself the image he wanted to deliver first to the iranian regime telling ahmadinejad who spoke before him now the international community is informed on the one hand. also he is informing the american public. telling them that israel is in a position whereby no red line by the international community, by the united states, israel may have to do what it has to do and then make the phone calls. melissa: yeah. we were all sort of stunned in the newsroom and stood up and looked at this because he is holding up this giant whiteboard to make his point. what do you think the reaction will be now? >> well the reaction of course on behalf of the iranian regime and their allies, that would be the syrian regime, hezbollah in lebanon, some politicians in iraq, hamas maybe, they could attack the prime minister of israel and accuse him of escalation. reality others in the region, such as saudies, kuwaities,
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threatened by the iranians have someone speaking on their behalf but not a arab leader, the leader of israel. melissa: i was in the middle east recently and leaders are definitely nervous. they see this as almost an inevitable conclusion at this point. do you think 70% to a bomb is about where they are? do you think it is even further than that? >> i think iranians are working on two tracks. one is slowly gradually to get to the bomb, maybe 70% or so possibly but there's another track, melissa, which is the missiles. if you don't have a delivery system and you could have a bomb and put it in downtown tehran. that is the concern. a pentagon report couple months ago they have a fleet of missiles that can not only reach israel but our sixth fleet in the med train ran and most of the -- mediterranean and most of the arab world. melissa: that impact is at forefront of our minds. but our show is about money so we want to talk about the financial impact as well. what does it mean for the
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price of oil? economic stability really around the world? >> absolutely. we all know the value and the importance of the gulf area in terms of oil and resources and energy. what the iranian regime is trying to say and do declare i have the weapon, i have the delivery system. therefore they will destablize the saudi arabia, destablize the gulf, countries, the world will be deterred. there is a link between iran's regime getting stronger with missiles and bombs and the capacity of destablizing the world economy through the gulf. melissa: what do you think is the appropriate response? because we were talking on the show yesterday about how sanctions it seems like are not necessarily working because we highlight ad company that is going ahead and buying iranian oil and is reportedly then selling it to china? because seems like the sanctions are not necessarily that effective. >> for a simple reason, melissa that not all of those who should be putting sanctions are putting sanctions. iran is trading with everybody else than the coalition that is putting sanctions. sanctions alone won't work.
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they are necessary but, the only thing we need to do. number two, you have the military capacity strike. that is only when we are sure that the iranians crossed that red line. third and most important i guess is work with the iranian opposition, with iranian students and women and minorities those who took to the streets in tehran remember in june 2009? they were very close shaking up the foundation for the regime. unfortunately washington did not seize the moment there. melissa: walid, thank you very much. i wanted everyone that missed speech to see the images because they are impactful. thank you. >> thank you. melissa: moving on to tough numbers that came out today, the economy grew slower than expected in the second quarter. only 1.3%, which is a lot lower on that the 1.7% reported last month or the first version of that number. durable goods orders fell a whopping 13.2% in august. that is the worst level since the beginning of 2009. can another round of stimulus turn things around?
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here for more on this, economist harry dent, the author of the great crash and editor of boom and bust. great to have you on the show. thank you very much for coming back. that revision on gdp i thought was pretty stagger because 1.7 wasn't that great in the first place but then to knock it down to 1.3? that is basically a stall. >> that is but the economy is pretty simple at this point, it's dead. demographics are pointing down for the next decade. debt is massive and unprecedented. economy without stimulus goes back to zero growth to recession. qe2 has been wearing off. we've been expecting that this year. that's why we need knew the fed would have to come up with qe3. the problem with qe takes more and more to have less and less effect before the drug will kill you. this happened in europe. stimulus is not turning around countries like greece and spain and it won't. stimulus will have some impact. stocks are up, six, 7, 8, 9% in the next quarter or.
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melissa: i'm not sure it has impact on economy at awe, because everybody that can refinance already done it. anybody who can borrow for anything already done it. no one is hiring. all it really does is juice the fat cats on wall street, i can barely say it, who president obama says he is not a friend of anyway. >> well it's true. what we see is the top 10 to 20% of households who do benefit a lot from stocks going up in the stimulus. they are still spending for two reasons. they get this benefit from the wealth effect but also people in there go to college and they tend to peak in their spending about five years after the average person. so the average person peaked in 2007. we think what is going to happen next year this stimulus will have less impact because these wealthier households will hit their peak in spending. their kids will get out of college and drop off and stimulus i think is going to work a bit, not as much as past qes. then it will fail by mid next year. i think stocks go up a bit. fourth quarter, maybe first quarter. then you could see a bigger
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crash. note that stocks keep going to higher highs and when they crash, this he go to lower lows. call it megaphone pattern. melissa: just making it is the durable goods order that came out to show durable goods fell 13.2% in august. that was the biggest drop since january of 2009. i mean that's really bad news too. why do you think that happened? >> well, you know, exports are slowing around the world. this isn't just u.s. and qe2 wearing off. everybody, china, germany, u.s. exports have been a big part of the profit increase that have been driving stocks up. so it is only 10 to 11% of the economy but it has a disproportionate impact on the stock market and profits. so i think you'll also see profits disappoint over the next year. this, we expect things like durable goods and exports to be slowing first. they're kind of like leading indicators. things like housing and jobs are still kind of lagging in keeping up but they won't for long. melissa: if you read the headlines, a lot of people were saying positive things about initial jobless
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claims. they fell by 26,000 but they were still at 359,000 which is horrible. i mean what do you predict for the jobs number that will be out a week from friday, the big monthly one? >> probably more of the same. it will be decent but not going to be strong. it will be something like 80 to 100,000. and that should tailor off over time. one thing the fed did, got ahead of the curve of stimulus. they stepped ahead. saw the slowness coming. our indicators said the same thing. i think you're right. stimulus has less and less of an impact and it increases debt levels and keeps the economy from going through its kind of natural rebalancing which it needs to do. we have too much debt. we're not deal with that. government debt is growing more than private debt is slowing and that means we would like japan we're getting more and more in debt. you can never come out of this crisis. melissa: harry, before you go, are you better off than four years ago?
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that is what average person is answer to that? i don't want to know about you personally or your bank account but when you look at these numbers what would you say? >> again there are two economies. i think 80% of households are not better off. they have made no progress. they have still got jobless worries and their incomes haven't gone up and gone down if anything. but the top 20%, 4% unemployment, the stock market going up makes them wealthier. those 20% would tell you in a poll and polls show, this 20% of the people say yeah, things are better. but only 20. melissa: harry dent. always great. thank you. fracking our way to a healthier environment? environmentalist says fracking boom is the cause of lowest carbon dioxide emissions in 20 years. he is here next to explain. fascinating stuff. dire situation for many states. state workers are still making more money than
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people in the private sector. we have details from a revealing new report. more "money" coming up. ♪ . 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 today and discover another reason serious investors are choosing fidelity.
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♪ . melissa: so the summer heat may be dying down but the debate on tracking is heating up. environmentalist calls it by far the decade's best green energy option. even says it is good for the environment. he is also the author of, cool it. he joins me. thank you so much for coming on the show. >> thank you. melissa: this is really interesting connection to me, you make the point in the united states carbon emissions have gone down. >> below 1991 levels. melissa: wow. >> actually per capita you're down below what you emitted when eisenhower --. melissa: isn't that because people are driving less and going out buying their priuses and their, you know, whatever else? >> there is a tiny bit of that but the vast majority is because you have stopped using coal to produce electricity. you started using gas. we've gone from gas use used to be 20% and coal about 50. now it is 32, 32. basically making fracking so cheap you've achieved what
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nobody else was able to do, namely we dramatically lowered our carbon emissions. you lowered it twice as much as everyone else, european union, key yot toe -- kyoto protocol managed to do. melissa: there was such a glut of gas. hurricane katrina it was up to $15. now two bucks. so cheap and so plentiful. a lot of people don't want to sort of embrace the idea this is actually good for the environment still after all a fossil fuel. >> it is. it is not the end of the solution to climate change. listen we tried for 20 years with kyoto and e.u. definitely wanted to do a lot of good. i'm from europe. we ended up paying 20 or $30 billion to cut carbon emissions half what you guys done and done it for free. actually you made money doing it because you also got cheaper energy. that is the way forward. also for china and india and everyone else. melissa: that is the argument too. a lot of people who are
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proponents of solar and wind and whatever don't want to hear is that while fracking has been profitable it has helped the environment. at the same time, you look at things like there was this big story today out of wyoming where encana is drilling and there's a well that is contaminated one way or the other. seems like it from the reports. they're dealing with all this. the neighbors in the neighborhood are saying, pavilion, wyoming is result of fracking going on near by bi. there is a case they point to. >> there is nothing just fine. fracking has its problems. we need to have it well-regulated. most water is from 100 feet down. most frack something mile down. so not like the two are intersecting but you do have to drop your drill down through the water. you need to insulate that. you need regulation. melissa: right. >> but you also got to recognize if you care about global warming, if you care about cheap energy prices and care about energy independence, this is a great opportunity. melissa: a lot of people in the business make the point when you see something like
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this it is always a mistake in the well and something, wrong as opposed to, pollution as a result of general fracking going the way it was supposed to. you also make the point it has lowered energy prices which is absolutely true. and that it is going to make us more energy independent. the problem though it doesn't replace oil. it doesn't replace gasoline. you're talking about swapping it out for coal. it doesn't solve one of the biggest problems. >> we weren't running out of coal. we have plenty of coal but remember a lot of companies especially trucks let's move our trucks to gas instead of gasoline. that of course would lower your, increase your independence. and of course also the fracking of oil looks likely to happen through the exact same outcome. so in reality this is a tech logical break through that provides us with a lot of benefits. melissa: yeah. >> this is really where i want the environmental debate to go back to. we have been preaching 20 years, do with less. please switch off the light.
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that is a very, very hard sell. if you can come and say there is technological solution that makes you richer and is polluting yes, hey, everyone will embrace that. melissa: absolutely. fracking for oil becoming much more prevalent though natural gas is the sweet spot when it comes to price. very interesting. >> thank you. melissa: states are slashing payrolls and budgets from coast to coast. state employees still make a lot more than the counter parts in the private sector. details coming up next. president obama take as victory lap on the campaign trail claiming he helped close the pay gap between men and women. is it as bad as he says? we'll debate it and break down the numbers. that is coming up. do you ever have too much money? ♪ . [ engine revving ]
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you guys take a minute. zon, hands down. i'm going to show you guys another chart. pretty obvious. i don't think color matters. pretty obvious. what'sretty obvious about it ? that verizon has the coverage. verizon. verizon. we're going to go to another chart. it doesn't really matter how you present it. it doesn't matter how you present it. verizon. more 4g lte coverage than all other networks combined.
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melissa: so who do you think make more money state government employees or people in the private sector in in a new report citizens against public waste says public workers. on average they make 6.2% more an hour in wages and benefits than the same exact job in the private sector. with me with the details is fox business's very own rich edson. rich, what did they find? >> well melissa that government spending watchdog here in d.c. says every state in the united states pays its workers on average more than employees doing the same job for a private company. and the group says much of the blame falls on retirement benefits. now these pension and salary totals vary by state. the report says the states paying workers closest to private sector salary and benefits, new hampshire, rhode island, vermont, south dakota, and wyoming. states with large of the gap, california, new york, north carolina, ohio and texas. for comment the american federation of state, county municipal employees referred fox business to a web post
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by the economic policy institute. their response? they say these claims are bunk and study after study has rebutted similar claims, if anything, public sector workers most of whom have college degrees or higher, are somewhat underpaid compared to comparable private sector workers. as for federal workers the congressional budget office find they make more on average until you get to those with professional degrees. in that case they make more in the private sector. for all federal workers cbo says they make 16% more in total compensation than those working for private businesses. melissa. melissa: but, rich, the difference between, you know, what the citizens for government waste is saying and what the public sector workers are saying, how do they jibe those two sets of numbers? >> i know it is difficult when you look at different sets of numbers you're talking about different groups of people. it is hard to find something comparable for a policeman or a firefighter in the private sector. melissa: exactly. totally. rich edson, thanks so much.
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if we know that huge public pensions are bankrupting cities and states across the country while state employees are making more than people in the same jobs than private companies maybe changes need to be made in the way public employees are being paid because the fear right now is that taxpayers are going to be left holding the bag, right? who else? straight from releasing the report today tom schatz, the president of citizens against government waste. let's start with first the fight over the numbers because of course you have your set of numbers and you heard the rebuttal there saying your numbers aren't correct. what do you make of that? >> all that matters, melissa there is not enough money to pay these people for their retirement benefits. we can talk about is compensation higher or lower for certain categories but the information that was provided by the bureau of labor statistics which takes the state compensation information, was looked at within these 22 categories for each state an analyzed by a very, you know, very smart group of people who
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didn't, linear programing all kinds of ways to look at it, you can pick and choose whatever you like but when cities are going broke and these liabilities are so massive, that's the underlying issue. the only way you can address it by the way, current and future employees and their compensation there is not much you can do about current employees because there is contract. melissa: that may be argument for different time. what types of jobs and what industry did you see government workers making much more than the private sector? >> on average 40% for architecture and engineering as one cat goir. education, training, library services and then the other was protective services. i know again there is difference what you might say security guard or police officer and firefighter. architecture and engineer -- that is pretty common and similar. melissa: i could see, when you compare a police officer
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who's really out there with the life on the line carrying a gun or a fireman runing into a burning building versus somebody who is working security still doing a freight job i don't think that is necessarily that comparable. but with engineers and architects, how does anyone justify that? >> by the way in protective services are lifeguards. so it is a broad category to say the least. melissa: well. >> but so architects seem to be looking at the same kind of activities. on the other hand some of these government buildings are pretty nice because the taxpayers are paying for them, not the private sector. melissa: yeah. there were some places where you found the private sector was making a lot more than the public sector just to be fair. one was state and local government employees in management and professional occupation, right? that was one place where the private employee was making a lot more. but that would be a situation where you're comparing somebody like mayor bloomberg who runs the city to somebody like jamie dimon who runs jpmorgan chase, right?
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>> again, not necessarily. it is a broad category. thousands of people in each particular area. it is going to vary by state. certainly in new york the private sector management would be paid higher than other states. utah and montana were the two closest to the private sector in terms of compensation. that makes sense. california paid the highest amount, straight dollar amount of any state. texas has the largest disparity. those two states are listed pretty much everywhere as having some of the largest unfunded pensions. california is basically broke or going broke. melissa: tom, it is interesting from a, oh, my gosh perspective but at the same time, does it really matter if you can't pay the bill, does it really matter if they're making more or less than the private sector? >> well the point is to bring it closer in terms of pay and look at pay overall because, again, the only way to address this long term is to reduce compensation and benefits. by the way a lot of unions around the country, a lot of employees are recognizing this a problem. they're cooperating with
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both republican and democratic governors and local officials. it has to be done or there will be no money to even pay salaries let alone benefits in the future. melissa: states are going broke with taxpayers paying public workers more than they make themselves is sort of the point. tom schatz, thanks for coming on. we appreciate your time. >> thank you, melissa. melissa: president obama rails against unequal pay for women while on the campaign trail but calls for equal pay between the sexes using maybe fuzzy math. we'll hear from both sides and break down some of the numbers coming up next. all ladies in the brawl by the way. the nfl and real referees finally strike a deal with thursday night kickoff just hours away. which side came out on top? we're breaking down the bottom line. piles of money for those referees coming up on the other side of this break. ♪ need to expand
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♪ . melissa: age-old fight about whether or not women earn less than men is one of president obama's pet platforms in the campaign. watch this. >> single mom, proud father of two daughters, president obama knows that women being paid 77 cents on the dollar for doing the same work as men isn't just unfair, it hurts families. for the first law he signed was the lilly led better fair pay act to insure women are paid the same as men for doing the exact same work because president obama knows fairness for women means a stronger middle class for america. >> i'm barack obama and i approved this message. melissa: our own government said it is not quite as simple as that. we crunched numbers because some of it women often work fewer hours or within agent
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been with the same employer for a shorter period of time of time. how big of a problem. we have mary ann mash and jean borelli. author of backlash. thank you for joining us. we have seen this debate rage on over time. as you break down the numbers and as i watch these ads strikes me a lot of cases women have taken time off from work, not been within an employer as long or chosen jobs so they can work fewer hours and be perhaps the primary care provider at home. not that that is fair. not that that makes it any better but has a lot to do like exactly they're both doctors working in the same spot and the woman is making 70 cents on the dollar. mary ann, how do you respond to that. >> actually that is not true. even when you control for all the factors and control for geography like you did in the exact segment where you live, your education, not just what kind of
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education, but what school all those factors women always make less. in most cases it is 77 cents on the dollar. i don't know one woman who at some point in their career hasn't confronted horrible reality their male colleague in the same job was making more money than they are. oh by the way, when you add to it the fact of all the fortune 500 companies there are only 19 women ceos, six in the top 100. zero in the top 10, when it doesn't happen at the top certainly doesn't happen in the middle or the bottom. every woman knows they never make as much as the guy next to them? melissa: what do you think about that. whenever you make the ceo argument it falls apart. what it takes to become ceo of the company is relentless pursuit up to the top. a lot of people like myself have stopped to have children, have worked fewer hours at different points in time because you want to be home more. i think it is, may or may not be right but there are reasons why. there are more men who become ceos. or did you disagree? >> there are different
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reasons why. people make different choices based on their needs in life. but i don't believe government be involved in setting standard for what salaries should be. salaries should be based on the market and competition, not paved on government. and this ad is very misleading because it changing the date of their own debate for obama. he is playing the woman card. first he played it with health care. now he is playing it with salaries. and in this case this ad is very misleading because it is not comparing jobs apple to apples when it comes to men and women. melissa: you want to respond to that, mary ann? >> yeah. look, if you look at the facts, and look at census data it absolutely does it. here's why it matters. when women make less, at some point in their life they have to support themselves. okay? either because they're single by choice, divorced or their spouse dies. so they're unable to support them service and their loved ones better. the less you make every year the less in retirement, less in social security, all compounds in the negative. >> census official said they
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don't even have the data, means to make this comparison. this is why this ad is very misleading. it is misleading the american people. melissa: wait. i slow you both down for one second. everybody can kind of find data to prove what they want that is one thing we sort of see along the way. what is the benefit of having this sort of conversation? i mean, mary ann, what do you think is positive that comes out of this, once again pitting one group of people against another? >> well, we're supposed to value work in this country. that means you need to value everybody's work, whether you're a man, or woman. you do the same job, you should get paid the same amount of money. that is what this country was founded on. up fortunately that is not reality out there. far too many women make less than male counterparts. we talk about work and great economic engine the united states of america, every participant in the economy should be valued for who they are and the job they do. not because they happen to be woman or a man. melissa: real quick.
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>> they are not based on gender. i used to work in hr. duties are laid out. the responsibility and what experience you need to bring to the table. governments should not be setting the standards when it comes to the pay for men or women. it should be market-driven. and this ad is very misleading because it is telling the wrong story to the american people. melissa: okay. ladies -- >> should always be fair. melissa: thanks to both of you guys for coming on debating that. we appreciate it. important point. >> thank you, melissa. >> thank you. melissa: we have breaking news right now. john thain taking our own, talking to him about his plans for cit and you know, charlie. now, you're coming out here because you've opinion reporting all day about -- >> and yesterday. melissa: about john thain out there shopping cit i understand another network which shall remain nameless. >> i call them brand x. melissa: was refuting your story? >> he tried to refute it on brand x. what, listen, when john
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thain was actually a major player on wall street, cit is not a major player i used to take glee when he refuted my old stories because he mattered at new york stock exchange and merrill he tried to refute all sorts of stuff. they need to raise capital at merrill. he would say they don't and they would raise capital. i would say he is on the ropes with ken louis he will not replace him after the bank of america brought merrill lynch. he got replaced. as a matter of fact john thain knew he was going to be replaced he saw me, he saw me on tv announce it. has history of this. today i think he was pretty squirrely. like he said not player he once was. i want to address couple things. he misled the reporter suggesting we didn't fact check. we called john thain up several times yesterday and today. he tried to refute our story yesterday which says he has been showing. he is interested in selling it. guess what, today reported that banks can't buy it. one of the reasons why they can't buy it is because of some of the regulatory
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hurdles that they face. u.s. banks and he wants to sell it to a u.s. bank so maybe run a u.s. bank which is his dream to be the head of a u.s. bank even though most people on wall street hate his guts. he tried to suggest we didn't check that. we did. he is trying to refute yesterday's story when today we clearly said he can't sell it. listen, john thain is clearly annoyed that he is at a second-rate player and he can't sell the second rate player and emerge at a major player. the other thing is, let me tell you something he tried to downplay the rehab of his office back in 2008. melissa: i remember. >> remember? toilet. the $35,000 toilet. he tried to downplay merrill lynch's financial crisis. and he had no idea he would be fired until i told him on the air. melissa: charlie gasparino, fighting back. thank you. the football gods, the real ref are back. hours before they take the field in tonight's game.
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we talk about the impact of the land mark agreement coming up next. at the end of the day it is all about money and charlie gasparino. we'll be right back. ♪ .
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♪ . melissa: game on. the nfl an their refs on the verge of ending almost four-month lockout after monday night's disasterous call by replachl refs. new deal needs final approval but the regular refs will be back in time for tonight's cleveland-baltimore matchup. who is on top of the deal? "sports illustrated" managing editor. thanks so much for joining us. i love when roger goodell in the press conference, the nfl commissioner said it had nothing to do with monday night. they were so close to the deal anyway. it was right thing to do. what is your take on the deal? >> i think they would have played it out as long as they could have without completely egregious mistake of that. first three weeks of the season ref earlier eing was -- refereeing was pretty poor. they had to make a deal. melissa: if you look at the deal laid out seems like the refs really won, 173,000
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next year and $205,000 i think it is two or three years from now. they didn't give a lot of concessions at all in the retirement package. still a part-time job. you think they won? >> i think they did. they got most of what they wanted. they got the nfl did get this bench of full-time referees they can go too if some referees are underperforming. what they really succeeded in what you saw was the status of refereeing among nfl among professional full-time referees is through the roof. melissa: the tweeting was hysterical. now the replacement refs can go back to foot locker where they belong. i think from a viewer's point of view it is almost a disappointment. everyone would have tuned into tonight's game to see what disaster this was and replacement refs were under so much pressure i think ratings would have been better if they hadn't settled this. >> i think people would be tuning in tonight to watch the first quarter, watch first real referee make a mistake and show everybody is human.
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and miss tanks will be made. melissa: are there any lingering effects? anything bad for the nfl? did it make them look bad or petty? what is the lingering effect? >> i think this is another misstep by the nfl they miscalculated here. the bounty situation has been very murky. melissa: right. >> in the spring. you know there were a lot of calls for roger goodell to step up and really step into the situation even before this happened. so, the nfl made a couple missteps along the way with a league as superpowerful and popular it is a black mark. melissa: most importantly who will win the game tonight? >> i think fans will win and players are going to win because we will have real refer east out there deciding. melissa: that is easy out. i will let you go. mark, thanks for coming on. we appreciate your time. we told but the texas gun range hosting children's birthday parties. florida blew that place out of the water. pool parties are all the rage with kids in the sunshine state. what is that in the pool with them in the middle?
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it is an alligator. you can not have too much money or too many alligators at your kid's birthday party apparently. we'll be right back. tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong.
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maxwell and david asman. thanks to both of you guys for joining us. first up, the city of new york just flushed $2.3 million down the toilet on this new bathroom the bath room doesn't look all that special, right? looks pretty normal but the parks department says the city used more durable materials that cost more up front but supposedly will reduce maintenance cost. what do you think about this? is this a valid -- this is a public bathroom in a park. looks very fancy. $2. million? i legal like in new york we have other things to spend money on. >> the point is does anybody think anything the government does will be cheaper or more efficient than the private sector? you remember when donald trump got into base because they were fixing up this ice skating rink. took years and years and were way overbudget. donald trump said let me do it. he finished the job in six months underbudget. melissa: made it totally profitable. >> such a waste of money.
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how fancy bathroom be. melissa: this is little triting the florida entrepreneur is pool parties for kids with wait for it, live alligators. that's right, the alligators are actually in the pool. with your children. sure, they're young al gatetores and their mouths are the alligator smelts are taped shut until they bite someone. >> it looks fun. i would only put children and their that i didn't like. [laughter] remapped he was saying that i don't look old enough for the movie "jaws", but i saw the movie. >> in the northeast,, you know,
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you can be a little too comfortable with wild animals. >> what is next? are they going to throw lobsters and take their claws and take them shut? puranas and a staple their lips shut? melissa: supposedly they have a very weak opening. i don't like that one. here is another one. it is an egyptian, an american and a frequent comment on someone else's name but i don't remember. repainting an anti-muslim ad in the new york city subway. she ended up getting arrested. when i saw this video, i was immediately, terribly suspicious
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because the spray paint matches her jacket exactly. >> when they came to arrest her, eventually, we saw the police come by. if you are violating private rights, private property rights, can get arrested. [talking over each other] >> also, disagreeing with the content of the free-speech concept. >> to destroy what she could do
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it, which is put up another ad. >> she got arrested for it. [talking over each other] >> hold on a second, that is not resizing your amendment rights. your first amendment rights. >> you don't have the right to break the law. melissa: i'm going to break this up, but she does look like she came from hair and makeup. is that right? >> yes, i think so. melissa: forget what you have heard. it turns out that advance researchers say that water coolers increase workplace friendships. you agree with this? i just think that when you are gossiping about work, you're probably gossiping at home. if you're talking about someone
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else, you're talking about them for a reason. >> this company relies very heavily for a number of things. we can't shoot ourselves for that. melissa: we kind of trade stories for a living. you guys have been a lot of fun. that is all the "money" we have for you tonight. "the willis report" is coming up next. >> hello, i am ashley webster in fort gerri willis. president obama released a new campaign ad today to outline economic plan. >> it's time for a new economic fate. rooted in the belief that our economy begins with a thriving middle class. ashely: maybe it

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