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tv   MONEY With Melissa Francis  FOX Business  October 18, 2012 12:00am-1:00am EDT

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off expectations. are we in for a rip-roaring comeback in housing? we'll get insight from a all-star roundtable. iranian sanctions get so bad the country literally can't even print its own money. details on how the rial may soon be dust in e nd. even when they say it's not it is always about money melissa: first the latest developments on a breaking news story. the fbi announcing the arrest of a man in an alleged plot to bomb the new york federal reserve building. wnyw reporter dan bowen joins us now with the latest from lower manhattan. dan, what can you tell us? 21-year-old suspect once wrote, quote, that he wanted to destroy america. law enforcement officials tell us he believed the best and most efficient way to do this was target america's
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economy. that is what vestigators tell us. he hatched a plot to blow up e federal reserve bank here in lower manhattan. we're on liberty street. what the suspect did not know, he was closely monitored and watched by the fbi and nypd. as you can see behind me. there are new york police officers standing outside the wating the federal reserve bank in lower manhattan where earlier a man attempted to detonate what he believed to be a department of justice bangladeshinational. he came to the united states in january 2012 for the le purpose of carryingut a plot on u.s. soil. he is charged with attempting to use a weapon of mass destruction and attempting to import materials from al qaeda. he assembled what he believed to be a 1,000 pound bomb in the van. he drove to the new york federal reserve bank in lower man hat and an attached the detonator what he belied to be the bomb.
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he parked the van and walked to a nearby hotel and repeatedly tri to detonate the bomb and the van did not blow because the explosives were not real and. consequences. it is important to emphasize that the public was never at risk in this case because actually an the suspect now at federal court in brooklyn. back to you. melissa: amazing. the impact of this on the economy woululd have been absolutely crippling. thank you so much for that report. wow!. letts take a look at the day's market headles. the bulls two-day rally losing steam despite strong date from the housing sector. disappointing earnings from ibm and intel weighing on investors. the dow just gained five points. ebay report third quarter earnings a short time ago. despite a slight beat on the bottom line a tepid
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fourth quarter outlook from the company is sending shares sliding after-hours. american express also reporting third quarter earnin after the bell. its shares down slightly. amex posted a slight miss on the top line but says that cardholders slowed their spending in the third quarter. hmmm. to our top story tay, a moment ago you heard one of the feistier moments of last night's debate. president obama and governor romney tearing into each other about their energy policies. listen to these stats. >> here is what i have done since i've been president. we have increased oil production to the highest levels in 16 years. >> the president's right, in terms of the additional oil producon but none of it came on federal land. as a matter of fact, oil production is down 14% this year on federal land. gas production is down 9%. why? because the president cut in half the number of licenses and pmits for drilling on federal land, and in federal waters. melissa: so who i right? we are crunching the numrs
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in our money fact check. here to help us is texas lieutenant governor date worth and fox business's liz macdonald. thank you both for joining us. let's drill down on this, no pun intended. i fell out of my chair during this debate. there re a lot of stats thrown back and forth. they have conflicting, they were inaccurate in a lot of cases. i want to start wit president saying production on federal land is up. according the government's own department of energy, his own source, it has dropped 14% on federal land. lieutenant governor, what do you think about that? >> i think it's a fact. it is harder and harder day to get permits to drill on federal lands. whether you're talking about the gulf of mexico, you're talking about colorado, it's harder. this is an intentional slowdown. the gulf of mexico, ich has been one of the most prolific sources of oil and natural gas is still at a lower level of activity than it was prior to the bp
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spl. now that was regretable, but safeguards are in place right now. so that's not going to happen again. this administration has been trying to get rid of coal-fired generation. they don't like oil and gas generation. and they just assume we would be riding around on horses and buggies. melissa: or wind powered cars. >> that's right. lissa: liz, let me ask you. another thing this debate about federal land versus private lanand. we went back and did the fact-checking. turns out once again from the department of energy, 96% of the inease since 2007, in production, took place on nonfederal lands. look at that. you can see there. >> private and. >> absolutely. melissa --. melissa: hang on, let liz get in there. go ahead, liz. >> what we're talking about essentially the difference between drilling on federal land, government land or private land. what you're seeing permit somethg down. federal permits to drill on federal land is down about 33% under the white house.
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under the clinton administration rose nearly 60%. more than doubled underneath the george w. bush administration. the president, you know the administration has been canceling lease sales in the western gulf of mexico, atlantic coast. delaying exploration off alaska. pulling leases in utah and places like montana. the president did make a statement. he did say, look we've enacted a use it or lose it policy where we will pull, you from you, oil company, the permit. melissa: that was compelling argument. was it true though? >> it is extremely nuanced. listen, when you call something inactive, when the government says, look your permit is inactive how are you defining that? maybe one out of 100 oil wells will yield oil. there's a lot of dry wells out there. melissa: right. >> they need to basically work on a five, 10, 15 years. sowhat time frame and how do you define that well is inacti before you pull the federal permit to drill? melissa: lieutenant governor, do yougree with that? i had a former oil ceo on
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another one of my programs who said inactive, define that we're testing it. we're trying to figureout if it will yield oil. we're not not using that permit by the president's definition. is that a fair defense or is this someone from the oil industry talking their book so to speak? >> no, no. what you were told by the executive with that oil and gas --. melissa: john hofmeister, yeah. >> is absolutely correct. john hofmeister i know. he is a friendof mine. i am the lieutenant governor of texas but it's a partime position. so i'm active. i've hit my own oil and gas company for the last 20, 25 years. we have both state and federaleases in states like colorado. and the federal government is making it harder and harder and harder to drill. when you have a permit, when you have a lease on federal land, whether it is in the national forest, whether with the blm, you have a set time in which you have to drill and hold that lease by
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production, or you forfeit it. what the president said is disienuous. it is not true. whereas in texas, for instance, --. melissa: go ahead, li >> the other issue the president said the reason why gas prices crashed is because of the economic downturn. yeah, that is a compelling argument. always a demand, supply issue. in december 2008, gas prices were a buck 69 and unemployment was rising above 7%. you can play games with the numbers and the facts but there are other ways to look at the issue too. lissa: lieutenant governor, give me the bottom lin here. what really bothered me about this you're either pro-fossil fuels and out there trying to fuel the economy with them or against them. just pick a side. be honest about it. do you think the president for fossil fuels as he tried to portray last night? >> no he is not not absolutely not. here in texas we've increased our oil production
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by roughly 500,000 barrels of oil per day. right now texas is producing about a million four barrels of oil a day, and a lot of that is from the eagleford shale which is the most prolific oilnd natural gas play right now. none of that is federa land. we have very little deral land. this administration, president obama is against foil fuels in my judgment. i've seen it time after time. melissa: that is fine. own it and be honest about it. i don't like when people are disingenuous with the american public. we've got to go. >> wind and solar are more expensive. melissa: they are, you're right about that. thank you for both of you coming on. we appreciate it. hear is the qstion of the day. which candidate made the stronger case for tir energy policy in last night's debate? we like to hear what you think. like us on febook at facebook.com/melissafrancisfox. or follow me on twitter at melissaafrancis.
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when we were i houston i saw a the pride they have the energy industry. some texas landowners are angry with transcanada. that is the company building the pipeline, keystone pipeline, and they're filing dons of lawsuits against the company to delay the project. they're arguing transcanada isn't using enough american-made steel. theyon't agree to exusively use local workers to build it. on top of that, there is no guaranty the oil coming through will even stay in this country. so with me now is julia crawford. one of the landowners fighting the pipeline. juli, thank you for coming the program. we appreciate it. why are you against this pipeline? we will illuminated some of the reasons there but i understand another one they're trying to take your property by eminent domain? >> right, melissa. in texas, if an entity is labeled as a common carrier, it means it is a pipeline they can take land because it is for the public good and doing something for the good of every man.
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we don't believe transcanada qauflts as common carrier under texas statutes. and in court we've been able to --. melissa: iant to drill down on that. why do you think it is not for the common good? because it is bringing a lot of oil to the u.s., that would be gasoline for everybody. so seems like it is for the common good? >> i think that is the misconception. basically what the keystone xl pipeline is through-put from canada to hoton and probably outside the united states. there is no guaranty and transcanada has been asked to prove it, there is no guaranty the fuel will stay in the united states so it might not wind up in your car or mind. what kind of energy independence is that if it goes to china? melissa: oil and energy is fungible. any barrel of gasoline produced in the u.s., gallon of gasoline, whether here, there, freesup a barrel to be sold here. oil, it goes where it goes and price is sort of settled that way. even if it is n used here it still lowers the price for us here in the u.s.? >> well it is a global economy. so you can't just separate
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u.s. oil. melissa: right. >> but when you get down to the fight we have, is in texas statutes. we're saying transcanada has the right to build their pipeline but they just don't qualify as a common carrier and they can't take land from those of us landowners who don't want a pipeline on our place. if my neighbor wants it that's fine. we don't want it on our place and you can't take our land for that. melissa: i certainly har you on that front. it is a very sticky issue. i understand transcanada offered you $5,000 at first. then they increased offer of $21,000 for two acres of your land. you took them to court. the court ruled they have to only give you $10,395. at the end of the day is this about money is there a price at which you would ll your land? >> it is absolutely not about money. our family and have been up front from day one. it is not about the mone it is that burning texas pride, the right to take our land of your pipeline than our right as landowners.
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melissa: julia, thanks so much for coming on the program. i hope you keep us up-to-date what is going on. it is a fascinating issue. it really cuts so many different ways. so hard to imagine someone seizing your property. i understand the need for the pipeline. it is fascinating. thanks for coming on. >> thank you, mlissa. melissa: time to check the fuel gauge where wereak down the biggest headlines affecting e energy industry and their impact on the economy. exxonmobil buying a major canadian gas driller. exxon's $2.6 billion purcha of celtic explorion is the largest since 2010. the deal will give exxon an expanded presence in canada a booming shale gas industry. everne wants to be in shale. ecuador judge allowing plaintiffs to seize $200 million of exxon assets. the plaintiffs won a $19 billion judgement against chevron last year over environmental damages. bp is close to sellin its 50% stake in a major russian venture.
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russian stayed owned giant rosneft is reportedly in talks to buy the stake. il prices held steady despita larger than expected jump in crude supplies. the oil settled at $92.64 a barrel. is it finally time to roll out the welcome mat for recovery? new housing data jumped to prefinancial crisis highs. reaction from a all-star panel coming up next. plus it's lights out for another green energy company and the $132 million bill for taxpayers. what a shock. more "money" coming up. ♪ . [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? whatever your business challenge, dell has the technology a services to help you solve it.
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♪ . melissa: so buckle up. this could actually be it. i'm pretty excited. the housing market could be building a recovery for real, i swear. get this. the housing starts have jumped 15% in september from one month earer. that's impressive. higheslevel in four years. very impressive. bank of america is hiring up to 4,000 more employees than pected. all the handle high mortgage volumes. that was buried in their conference call, sort of an interesting nugget to throw
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on the pile here. is what we'v been waiting for, is this what we've been waiting for or not? we have all-star panel to break it down. phillip sgel, former head of economic policy at treasury department. scott martin, live and in person, chief strategist. steve meister, partner with meister, cell lech and fine. phil, start with you, you're not sitting with us. you're at a little bit of a disadvanta. looks like this could be it. am i getting too excited for nothing? >> no, i share your excitement. finally, right? we had a bubb collapse. today's data, single family homes are up. multifamily, apartment budings, way way up. housing prices stablize. and you have the b of a anuncement that the mortgage business will be there. looks like we're finally turning the corner. >> you're the guy who is out there in the trenches, doing
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the deals. what do you think? is this real? >> i think we are on the cusp of a real recovery but i think, i'm not bullish for two reasons. one, i think it will be very muted. you still have a very bad jobs market. you still have people loaded down, new households with student loans. you're probly going to eventually see an interest rate increase, not right now. melissa: not in my lifetime. >> five years from now. melissa: what does muted mean to you? does it mean we should never get our hope up that houses will double in value oer four years or one or 2%? >> i think you will see a very muted price increases because of the overhang --. melissa: give me a number. >> under 3% a year. >> yeah. >> i think an important thg to note here is, look, we ha an anemic growth rate in this couny. one and change percent. all of new construction at most, mean, 10 or 20 basis points, .1, .2 at mt. > it is no iphone.
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melissa: go ahead, scott. the iphone alone is doing 2 1/2%. housing is not even close. he makes a good point, wage growth absolutely terrible, when adjusted for inflation. that will not sell houses, kids. melissa: phil, what do you think about that. they're more pessimistic than you are >> look i'm realistic there are secular forces make me more optimistic. slow wage growth, slow job growth. we have a couple million people living in their parents basement, doubling up in apartments. that is future wave of homeowners. that- >> until the parents pass away and take over the house. >> another point, if you dig into the data disproportionate percentage are multifamily product. condominium. melissa: right. >> that is important. that contributes less to gdp. melissa: steven here, this is my theory. you buy a house and it will be worth les than what you paid for it. this happened for the past several years. it happened to everybody i know who has bought and
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sold. is that fear gone? can you buy and at least say i'm not at least going to se money on this? are we there? >> i think with some people the fear gone but i don't ink it is gone across the board. i think some people are entirely disillusioned with the asset class. melissa: you're killing me. >> that is true. gone are the days housing is an investment. it is a asset. you asked a question what is muted. >> it is not an investment it is an asset? >> it is an asset. something you hold but can't check on itvery year, my goodness is it up 1%? >> it is housing. you can house yourself in rented apartment or rented house. you can house yourself in owned housing. what we're saying you're not looking to make money by buying a house. you're looking to shelter yourself. >> thank you. melissa: is that the bottom li over time? that it is no longer an instment? it is not theest egg, my parents generation would buy a house, live in it their whole lives and know when it was time to retire, and sell it, whole nest egg, that
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would be their 401) and take the money out and retire will that ever happen again. >> uncertainty hasbeen around a long time. we've seen house prices go down a lot. eventually people will be coortable thinking hse prices will rise and not catch a falling dagger or falling knife but it will take some time. melissa: you're all fantastic. thanks very much. another green energy company goes down in flames. another $132 million in taxpayer dollars goes up in smoke. how many more failures could be coming down the pike? we have more on that next. iran's economic crisis takes an on nute news turn. they have to stop their printing presses. we'll explain that. do y ev have too much money? ♪
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♪ . melissa: so we have a sound bite here, guys? >> these standards aren't just about the bad things we'l prevent, it's about the good things we'll build. there is a123, a clean energy manufacturer in michigan that just hired its 1,000th worker has demand soared for its vehicle components. companies like these are taking root and putting people to work in every corner of the country. melissa: see it was worth waiting for. remember that? that very same company, a123 systems officially declaring bankruptcy just a little more than a year after the president said ju that, taxpayers are on the hook for millions, again! is the administration's all of the above energy program actually working? joining me now to break it all down, climate depot.com
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and very brave democratic sttegist, julian epstein. thanks to both of you for beg here. julian, i will let you go first, because this is tough one. we're looking at 29 companies who received $2 billion and yet another one bites the dust. how can the presidentefend that? what would you say? >> well, you would expect that a small percentage of companies that get federal grants, not just for the energy department, through a number of departments are going to have financial problems. melissa: it is not a small percentage. i have to stop you right away. solyndra, beacon power, ener1. evergreen. you have sun power and nevada geothermal teetering on the edge. we're getting close to half. that is not a small percentage. >> no. i think dollars you're still looking at small percentage. let me finish my point if u may. lissa: go ahead. >> reports we have $249 llioin grants is more like 129. it is not really clear, 129 million. not really clear the taxpayers are on the hook
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here because therants were for domestic producon facilities. those production facilities are being bought by johnson controls. more to the point this is something with a bipartisan support. a123 company got grants fr bush administration. melissa:hey were wrong too. >> strongly supported by republican members like pete hoekstra are criticizing it. you know, the, the fact of the matter is this is a huge industry. cars like the prius that rely on advanced batteries are the third most popular cars in the country. these are, in the world, rath. these have been --. melissa: i hear you, julian. let mark get in there. >> they have enormous amount of demand and all the production is overseas. messa: mark,o ahead. >> i'm trying to minimize my biden laugh. what he is claiming here is absurd. this is obama administration trying to become venture-capitalists to create a markethere none exists. we know the electric car industry, toyota is saying they misread the market. "washington post", people should be supporting obama's initiative, sayi if you
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build it they won't come. this was supported under the bush administration. julian is absolutely right about that. melissa: so what whoever does it's wrong. i don't care which side di it. nonpartisan thing. >> republicans have wised up on this. they used to be all for these kind of boondoggls years ago. luckily now they have seen secretary chu and president obama and the absolute disaster that we've seen here. johnson controls taking over probably means the taxpayer will never see their money. keep in mind johnson control received almost 300 million, from the obama administration. so hear we have one bailout of one stimulus bill after another company taking another one er. market isn't there. melissa: hang on, julian. i want to ask you a very simple question. as a country we are broke! broke! we have spent our. our credit cards are maxed out. we hav no credit left. we an enormous amount of debt. we can't afford to subsidize an indury maybe one day will be fantastic but for
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now is failing? >> i just don't agree with that reaning. i think we have a huge prlem with the debt and deficit and i think those are problems th are structurally related to entitlement spending. that doesn't mean you don't make smart invests. me and your other guest can have disagreement hether this is smart investment. the fact advanced batteries have huge market internationally. the market manufacturing all been donelmost entirely abroad. thanks to government intervention, at least the manufacturing part of it is starting to come back here. secondlyrepublicans love to use these examples to politicize something. as you look like this in solyndra, to, the bush political team tried to get through solyndra grants and --. melissa: also wrong. mark we have, get the last point. >> the point heree, criticism from the conservatives seems a little bit more than opportunistic politically. >> i'm not here to defend e bush administratn. but i say issue of scale. the bush administration was nowhere near any the kind of
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figures at the obama administration poured into this. i think republican haves learned from this debacle. you can not be venture capitalists. melissa: if it is such a great business you wouldn't need my tax dollars. >> that is wrong statement. >> that is the right statement. melissa: hope you both come back. sanctions take a new to on iran's government. soon they may not be able to print new money, priod. we'll explain this one. plus nike spikes its long running partnership with lance armstrong. there are new accusations it may have helped a cover-up of a doping scandal. that's nike. we have details on that story as well. "piles of money" coming up. ♪
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melissa: so we've been telling you about what's been happening in iran. the protests the massive currency devaluation. the impact of more sanctions. things are not good. now it is getting even worse. one effect of the newest round of european sanctions could be that iranian banks literally may not be able to print enough money. to make sense of all of it i'm joined by mark barrett, a partner in diligent innovations. mike, pardon me, welcome back to the show. thanks for joining us. this is a really staggering story. they're talking about four different companies they basically purchase currency from, that would print currency for iran who a now cutting them off. what kind of an impact do you think that has? >> there are a couple of important pieces here. so the first thing here actually currency in today's world are complicated t print and all sorts of anti-tampering things and counterfeit things built intoto it. so this could have a dramatic impact quickly.
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the flip sigh,aken on a whole the iranian economy will find a way to sort of balance itself out. if they have to peg their currency in the existing amount of money supply to one of hard asset, one of the commodities they can sell, there is a huge amount of gold reserves in private savings. >> this is another nail on the coffin. every day here on the show we report on something new that's happening and it is not hard to find it. it is just piece after piece after pie and the pressure is mounting. this seems pretty significant. if these compiesgot together, and i understand they were being pushed to do this by an international agency but they caved in and did it and said we're not going to print anymore money, is there another source of getting bills? they're trying to get engravings as well, but i understand they're not able to get that? >> as i say, it is a very specialid industry. it will be very difficult fo them to find ways to print significant amounts of currency. there are other capital corols they can put on but
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you actually made the real point here which is that the international community has decided they will take this seriously and they're able to put pressure on businesses and banks and others that would be in pressure or doing business with iran. that is really the key element. as long as that maintains the pressure may build to the point where they decide to relook their policies. unfortunately reality, history of sanctions over time they tend to weaken. so you find people defect. one of the things i noted noted from ahmadinejad's speech at u.n. he was trying to sound like to build up support from the global community painting europe, u.s. and israeli as neoimperialists. you're looking to see them build an alliance with developing countries, third world, places like africa, trying to get votes and support from the u.n. that would break apart that international coalition. melissa: rlistically, what do you think happens here? are they knocked back to a barter system where they're trading things? do they have enough rials
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that doesn't sohow slow down inflation if you can't get the dollars? or d they try to switch like the euro or u.s. dollar? realistically, what do you think actually happens? >> so in the very near term, obviously they will be stuck with the current amount of currency they have. in fact you're right, many people will switch to a barter syste lots of ious. people making deals based on nonmonetary trade. it is bartering and getting credit from friend and things like that. the real key is the international sales, right? over time if they can't sell oil, they can't bring money to the government to fund it. of course the hope with the sanctions, i think it is portant here to be clear, our hope is the sanctions are severe enough that the pele are unhappy and they forcehe government to change its policies. melissa: right. >> i think we also have to be honest that is probably not likely to happen. it is a longshot. it is aittle bit of a hail mary. melissa: i don't know, it is thisor bomb them to oblivion. i don't see -- we do this almost every day here on the
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show ande haven't come up with a lot of other solutions than those two things. >> you're absolutely right. we have very few good options. this is not a great option. it is not likely to sceed but i thi you have to do it anyway. melissa: mike, thanks for coming on the show. we always appreciate your insight. >> thank you. melissa: nike throws land armstrong to the curin the wake of his doping scandal but there are new reports that nike might have been involved in the cover-up. we have details on that coming up next. at the enof the day, it is all about money.
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>> everybody wants to know what i'm on. what am i on? i'm on myy bike busting my ass six hours a day. what are you on? melissa: oops. that's powerful commercial. now seems like hitas little too close to home, right? there are now reports that nike may have paid off the head of the international cycling union to ignore one of lance armstrong's positive drug tests. today armstrong stepped down from his livestrong foundation while nike dued him as a sponsor. nike denies, vehemently denies they bribed anye.
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they released a stament in part, due to seemingly insurmountable evidence that lance armstrong participated in doping and misled nike for more than a decade it is great sadness we terminated our contract with him. is nike trying to cover its tracks in the wake of the allegaons against them? what does it all mean for th future of the livestrong foundation? joining me is the executive director of tu are. cal brands. thanks for joining us. this nike issue, that is aggering. 1,000 page report from the wife of a former teammate testified under oath that nike wired money to the hea of the international cycling governing body to cover up a positive drug test. this was in the report and kind of out there and but really gning momentum i would say in the past 24 hours or so. do you think this is why nike dumped him now and how bad is it for nike?
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>> here is what i don't understand. nike known they have a problem for months and months. they're certainly at the top of their game. they have been planning for th. why did they wait untilt hit the fan? melissa: what do you think? >> he could have walked away quietly, nobody would have cared. all of sudden whether they did it nor at looks like they did something wrong, doesn't it? melissa: seems like it was a really bad idea if they're just sort of waking up to this now and making this decision. i mean, you have to guess, what do you think precipitated this? do you think we're about to find out something more? or do you think just the buzz over this particular element is gaining traction, we need to take a strong stand, distance ourselves from him now and ourselles up to deny or defend that we had a part in covering this up? >> i think they had to d it sooner or later. they chose later. maybe if they waited longer it would have gotten worse. melissa: yeah.
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>> we keep hearing news reports and people testifying about what he did. hear is the big fear, livestrong becomes liestrong and the brand is finished. melissa: that is the real tragedy. there is pile on effect afterwards, anheuser-busch, radioshack, in the past 24 hours they all dumped lance armstronn. it just gets bigger and bigger. the tragedy is what haens to livestrong. it is a charity with message of "hope & faith"ndfight. a lot of people say it's the most powerful charity that was ever started by an athlete. it has spawned a movement. the bracelets are everywhere. th is e biggest part of his legacy. it is actually this charirity. what do you think happens to it as a brand? >> i think it goes up in smoke. melissa: oh. >> they sold 84 million of those bracelets. think of all the good ty did, it now goes away. here is the worst part. lance did things over his life, things he was known for, things he accomplished,
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all that goes away. it is last thing you do before they remember. when people head for the exits,,all they remember is what happened and this brand is done. melissa: such a tragedy. bruce, thanks for coming on the show. we appreciate it. >> thank you, melissa. melissa: i'm going to let this speak for itself. do you know how mu, the bra on that victoria secret model is worth? you're looking at the bra, right? i know that's it. ? it would make cleopatra blush. yo can never have too much, money? ♪ . [ male announcer ] how do you turn 30-million artfacts...
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♪ into a high-tech masterpiece? whatever your business challenge, dell has the technology and services to help you solve it.
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♪ melissa: tay, we are join by fox news contributor and our very and dennis neil. what a star team. thank you for doing this. first up, ever think you really need this? oh, yeah, of course you do. your very own disaster shelter. an amy navy this florida is selling these. here's the good part. lo inside. looks nice; right? like a studio apartment in manhattan, that's huge. bunk beds, couch, full kitchen, flat screen tv and an escape hatch for $60,000. dennis, what do you think? >> one word, "man cave."
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it's a great idea. the only fleeing nuclear attacks, but the idea of i want to be left alone. >> hardwood floors? that's nicer than my apartment. melissa: if it's a disaster, what reception are you getting on that tv? are you really getting satellite? >> dvd. melissa: okay. >> buy alo of dvds for nuclear armageddon. >> man purchases a leather couch because that's something a woman doesn't buy. melissa: right abouthat. who doest need this? victoria's secret new gift set. we're talking about the bra, not the girl. it's complete with a jewel encrusted lingerie and perfume causing $2.5 million. the ding ng center piece is made of a 20karot diamond.
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you're looking at like julie like you don't want to go first. >> i bet you no one has ever bought any of these diamond encrusted bras and spend so much money on something you don't want to use. >> could it be less comfortable? >> actually, i could not. [laughter] >> if it's 2.5, i would buy it for you. >> seriously, who wears it? what's the point? melissa: call them together and ask them. clearly -- >> never have. one guy who brought a gold plated vacuum cleaner. melissa: maybe. >> what's more offensive to me is she had a baby three months ago. look at her. what are you doing? what are you doing? that's what i want to focus on.
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look at her. >> yeah. melissa: i'm trying not to. anyway, check this out, a preschoolteacher in south africa was caught with -- wait for it --19 kids. we shouldn't be laughing. they are all fine. 19 kids in her car. the teacher was bringing the kids to the mall for lunch. she was doing something nice. she ha 31 students in total. first, she took 12 in the cacaro school and came back for the other 19 she left on the playground. she got a ticket for170. seems a little light. what do you think? >> give the kids credit, unsupervised, they could have beat eac otherp. >> they can't prosecute her becae there's no evidence. >> what about the picture? melissa: what if this happened in the state.
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she would in the jail for the rest of her life. >> wasn't that photo evidence? >> and lawsuits to the school. >> i want to know how. those kids are pliable. give them credit. melia: just fold up. great news for dermatologists everywhere. there's a shot that can get rid of this, your double chin. supposedly injections of reproducing cells burn off body fat helping dieters to lose double chins and target other areas with hard to get rid of fat. could be six years. >> you didn't have to do this. you could have just taken a picture of me from february 2007 when i had a chin like that. i would inject this thing in a heart beat, bring it on. come on, you do the botox, give me the double chin shot. >> i don't know what you're talking about. everybody's t something.
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every's got that one thing they can't get rid of. melissa: that's true. >> iave this weird under arm fat thing. i'm just saying right now, perfectly honest, inject it here. here. >> i need a shot the size of a the following is a paid advertisement for time life's music collection. ♪ chances are 'cause i wear a silly grin ♪ there are artists we'll always remember. ♪ mona lisa, mona lisa ♪ men have named you there are beautiful songs, words and memories that will always touch our heart.. ♪ it's impossible

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