tv MONEY With Melissa Francis FOX Business June 7, 2013 5:00pm-6:01pm EDT
important gauge in determining this program. >> have a great night and a good weekend. >> good afternoon, here is what is "money" tonight. almost nothing is safe from the eyes of big brother. there is one country that can shuttout the government for good. the ceo joins us exclusively to tell you how. and america's suchy sushi restaurants against tipping completely. and to make money today? let's just say investors from one big company have big yellow smiley faces. stay tuned to find out who. even when they say sadism, it is always about "money".
>> immodest encroachments on privacy that are involved in getting phone numbers without a name attached and not looking at content it meant that it was worth us doing. dennis: just because you're paranoid doesn't mean that there aren't out to get you. the government is watching them and we now know that for sure. thanks to "the washington post" and "the wall street journal" and the guardian in the united kingdom. the government is tapping directly into them of the biggest tech companies in the world. we are ll getting caught up in this digital record frenzy. joining me now is a
cybersecurity expert and an assistant editor of "the wall street journal." thank you for being with us, gentlemen. colonel, let's start with you. talk about how they say that we are trying to be kept safe. but why is this so vastly big instead of going spearfishing for a couple of barracuda. >> i love the analogy. >> if you were to director spear, if you don't know where to director spear, it becomes a much harder problem and you miss a lot of fish that you're going after. so that was the philosophical and technical dilemma.
they did data mining effectively. the big idea was to find as much data as you possibly could and then pick the relevant pieces out of it. that is when the program was developed as it was. >> you think that they may have out of reach to your? are they okay with looking at your google searches here. >> it will be much better if they don't do that. if they don't look at everything that i do or what everybody else does for that matter. they are you're dealing with a lot of extra pieces of information. this includes the actual contents of the search and the phone conversation. but those are the things that they are looking at. they are looking at patterns of behavior. not necesssrily the actual content of the message.
and you have to have a special one for that. >> you are with "the wall street journal"'s editorial page. this is one of the best in the world. they came out with a rather passionate defense of the nsa and its mass digital dragnet. as long as we are not looking at the content of the message, we don't have that right. but what the report that came out from "the washington ost" and wall street journal in the newspapers later, they say that they are looking out live google searches. e-mails and video chats. that is a lot more than just a phone call. you have a problem with that? >> keep in mind this program at the prison program is looking at what people are doing online.
simply foreigners essentially communicating with each other. not u.s. citizens. >> "the washington post" said wait a minute, they are focusing on millions of americans. >> i am saying that what the government has set up to this point is that we are talking about foreigners communicating with each ther. the question if someone in pakistan is communicating with someone else in pakistan, but that communication is going through a server in the united states. you know, there is never a good time to trust big government. but i think that we probably should take a breath here and understand that we are a country with a lot of soft targets who cannot harden them off.
technology is an advantage that we have over terrorists. we don't want to give the government carte blanche to do this to all of us, but if it is a program where it allows them to look for that needle in their haystack and find the bad guy, as long as we are sure that the rest of the haystacks are not abusing the privilege is. >> there lies the problem. i just wonder if this is akin to mondays at the irs. [laughter] the installing of icrochips was shot down and then after 9/11 we are just going willy-nilly and going way too far. why can't you guys at the nsa, we're used to work, instead of putting out a 50,000-mile wide net and bringing on the fission what you come up with a suspect in and ask you about intrusion,
weiser with.net. >> in order to go after someone like this, which honestly didn't work and time what you have to do is you have to find possibly could be of a suspicious nature. so you cannot say that everyone is guilty of a crime until they're proven innocent. that doesn't work with our legal system. in this particular situation, we have a requirement for data, you're casting the net wide so you can actually have those needles in a haystack as james mentioned. because that is the only way that you can get as many of the needles as possible. you're not going to get all of them, but you least have a higher license of getting them if you cast a wide net. it becomes a question of privacy
versus public safety and that is really what the essence of this debate is all about. dennis: the problem is this one that isn't catching anything. i'm just overwhelmed by so much data? >> city ardsley in new york, we are sensitive for all these reasons. we were named the number one target and we have a police department in the city that is very aggressive and gathering information at surveillance, you might call it. use the right term, checking in on people we have nnt had another attack. and a lot of plots have been thwarted. there was ever to blow up the federal reserve bank in new york. so it is working in many ways. >> it was because of good old confidential informants. thank you to the both both of
you. be sure to catch neil cavuto tonight. he gets reaction tonight from mitt romney. it is at 8:00 p.m. eastern. you do not want to miss that. it is time for today's report. tropical storm andrea creating a mass. mid-atlantic getting hit with 3 inches of rain. hurricane "spare change" move into the gulf coast. some areas that have been hit with the worst flooding in history. northbound traffic will resume after sunset tonight. and oil futures when the market rally today. fueled by the may jobs report. crude oil settling and $96. next on money, collect a digital panic room. no matter how much the government tries to invade your space, check this out.
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@%nnis: is there anything you can do to make your own personal information government prove and keep it safe? faulted as a data encryption company that says it can protect you matter what the government does. >> it is not as gathering data from microsoft and google. i have this computer. so let's say that i have the product on this computer i have
vaulted software on the computer. it is encrypted even if it is turned over to the government. the only people who can read it are people who have the one and only key to decrypt it. and i would have the key. i am the owner, i have a key that i can give to other people or keep to myself. it appears that if they were ever to open it, you would be protected due to the encryption. >> in the very old days of the 1980s you had your personal computer and it wasn't linked to anybody. and you took out your little floppy disk and you walked it over to another guy. now, everything is connected and the tech centers are pushing the cloud. is the cloud making us more vulnerable to hacking? >> we brought that up with other
people that we interviewed. you know, the cloud is just another server. right here at the news corporation we have giant servers in the basement. imagine if you take those servers and they are very costly to maintain and you get rid of them and you do everything to the cloud. the question is what kind of security do you have in the cloud. if you have that and it's no good, it's all the same. if you have the similar software like it then encrypts what you have to the point where only someone with the decryption key could read it, it doesn't matter. all they will get is a bunch of gibberish. >> you really think that this is encryption that is so solid and good that it can stop even the government? if it got pretty popular, can they say that we have to get that encryption key? >> the way they describe that question, that would be easier the easier thing to do is knock off somebody who has the other computer or a device which has
the key with it and do it that way..3 they would have to crack the encryption code, which you would need the genius of jesus to do. it would be much easier. but they are trying to do is make you aware that the government is aking the information. right now is yahoo and google and microsoft and apple. they don't necessarily tell you that it has been done. this way the government has to get a subpoena to get the key to read what you've got and used this to know what they are up to. >> someone somewhere can make some money in any controversy. thank you adam. >> take care. dennis: coming up on "money", it an unexpected giant getting into the bidding war that could change tv event. we will explain. and unemployment is not 7.6%. that is a bit higher than it was.
dennis: whether it is wall street or main street, it appears that we have made money today. wal-mart's meeting announced a 15 billion share buyback program and the ceo says that sales will hit $10 billion this year. @%vestors embracing that good news. meanwhile, losing money today, investors and samsung. analyst downgrades for the galaxy smart phone. in the same summer stock down
$12 billion of the office market value. making more money today fast and furious six. that has blown past the half billion mark and it is the quickest and surpasses that milestone. it is kind of imppessive. what what can you buy with a billion-dollar. >> by now there is one hot commodity available. so an online video streaming site named hulu. that is where the bidding starts from a billion dollars. at&t bonds in the action. one of the biggest deals out there. it could be a game changer and maybe for tv. one of the best in the field. thank you for being with us. so there would be reports of bids coming in. directv is interested. tell us who is going to get a?
>> this is one of the most complicated options in the landscape. it keeps growing. you think about the potential sticking points and you have to think about what has happened after the exclusive content deals. constant spending with amazon and netflix. the parent company has also face some potential decisions. as you know, they are a one-stop shop. coming back to your question. i do believe that time warner cable, at&t, each one has he senate comes down to a strategic opportunity for these companies.
>> who's going to buy? give meaning. >> well, dennis, i think i would not rule any of that out. this includes directv and the trick pony that you could see with this mobile video opportunities that hulu has. and launching its own streaming service. we also have this and this could provide another effort to this online space getting more crowded. a. dennis: at&t's interests, surprisingly randall stephenson told me a couple of years ago that we are a massive carrier and we don't need to own content at all. isn't this a departure from that strategy? >> i think we talk about how rapidly the landscape has evolved since that statement was made. this is changing by the day. you have newspapers jumping in.
you have cable companies. those that are launching and pushing their own tv. this is moving at lightning speed and i would not be surprised if we have all the potential to do that. the question is where to come down to evaluation, right? >> yes. >> we have a lot of hesitation as to what has happened with the parent company. dennis: which of the bidders that you have seen so far means that the most? >> well, yes, arguably yahoo could do a lot with that. that is not to say that the other candidates won't either. everything is going to come down to the price. so i would not rule out anything right now. looking at this very seriously. and by the end of the day, the devil will be in the details of. dennis: so you would not be person to make a wild guess.
so that i will do so right now. it is netflix that i think we will buy. up next on my come and we really have to settle for 125,002 jobs a month. that doesn't come close to filling the unemployment. we are going to solve it here with two top economists who give us their input. what we can do to light up hiring. in a restaurant that does not allow tipping. one of the most celebrated japanese restaurant has banned it. will customers actually come out ahead? a controversial plan. we have piles of money. coming up next. we went out and asked people a simple question: how olishe oldest person yove known? we gave ople a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed much is the official retirement a. ♪ the question is how do you make sure youave the money you need
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>> it's kind of whiny. marcus or higher. the dow closing with its biggest 1-day gain since january. great news even though the jobs report to not hit it out of the park. every month we see jobs numbers, up, down, revised. we saw unemployment go up. that is just not good enough. real crunch a number. two of our best economists. three fast job situations. with us now, peter and jeffrey. welcome. but start with you. let's just look at the number of chal we have been averaging about 178,000 private sector jobs every month for three years. we need to hundred thousand or
more to massive population, and you say we need 350 or 360k or more to bring unemployment down to 6% and 3 years. peter, fix it for us. give us three fast fixes. >> the person we need to do is get rid of obamacare. barrell of the country of folks tell what tired because of the high cost of fringe benefits. it just the tax problem. there's a very high tax that we have. this marginal rate. most businesses are s-corpse. they're paying better than 50 percent of their income in taxes. they're not going to invest for the small return. finally you heard this before. we have to do something about the currency problem with china once and for all that is costing us 5 million jobs per year. we should fix that right away. dennis: janet keep their currency cheap, and we never do that with the u.s. dollar.
you takeover. telesphere -- your three fast fixes. >> give afternoon. first and foremost i agree there is too much policy, uncertainty in washington d.c. need to get the rules of the games moved out some investors know what they're dealing with. the best tax policy or a long-term budget plan that is depressing investment and growth. the like an investment as a share of gdp. that's what i would do first. the second big thing is eradicate or eliminate the barriers to new entry businesses. many new businesses to form. many elected the bureau of labor statistics of the net job creation, new businesses. not necessarily small businesses, but new businesses. we need to create as sandbox for these entrepreneurs to try things that an innovator in. for. dennis: third. >> the third thing for me is when you ask where a lot of
these new businesses coming from, who are the entrepreneurs, about a quarter of the un to benares that a starting tech businesses right now are foreign-born. the children are foreign-born. so we need to do is reduce the barriers to emigration, particularly for those high skill type positions. if you want to put a name to which i would just throw out the law must, paypall, facebook, space sex. this is a foreign-born, one of the greatest of bernard's ever. think we need to encourage those folks to want to come here. dennis: we have seen six vast fixes, and i like them. do you think that the current ongoing litany of government scandals and controversies with the irs, is it going to stop our federal guy from being able to do any of these fixes? >> for the most part yes. i think that the irs scandal is starting to focus people on the necessity of wondrous solution.
why would the board up the windows of the irs and send the bureaucrats on? we're not going to get that. what we -- we could once we are value added tax sinks. i think there is going to be a movement toward of flatter income tax, an income tax with less deductions and so forth that would require less of an irs. after all, the less complex the text of the few are those people we need around. >> a tax overhaul the single most important fastest fix. in part you have to wonder what that would do to neutralize the irs. >> it's great. absolutely in favor ttat. i think the uncertainty of the fact that we don't know if it could change next quarter or next month or later this year, that is the big problem. lingering concern for investors, what will happen with the debt ceiling.
let's go out and eliminate that. free up a certain environment that will be helpful. i want to go back if i can't to the china question. one of my favorite topics because i don't think china is the great bogyman. in fact, if you look u.s. exports the fact we are exporting more than ever which is here for businesses in different climate, the top destination in the 21st century in terms of export growth this china. we are creating stuff here and sending in up to china. dennis: peter, let's remember that general motors now sells more cars in china than it sells in the u.s. i think china can be our friend and a great market. >> i do, too. it's a matter of getting the playing field level, and the degree can do that. china is terribly afraid to revalue its currency. if we did it for them to currency market intervention the way they are now, doing what they do, then i think that they would find that they would prosper very nicely. terribly afraid of something that would not hurt them but is
serving as right now. it would give us a lot more exports. we would grow faster and be a better market for them. dennis: thank you both for being with us. peter, great new york fed. good night. moving on to movies now, google is spreading out the popcorn. that company has unveiled a study. it can predict box office success. that is like hollywood gold. dole says it could use search data of a film trailer in the four weeks before and other factors to project opening weekend performance. joining me now, fox news. i have gone several times. >> food performance. i million pretty good. key factors.
the film is going to be released. it's a franchise. it's an ironman movie a star tracker twilight it will do well everything is here. see how they can do because for years now the studios and people like myself have been trying to figure out a formula for predicting box office. it might just be able to. dennis: gully but has a great forecasting machine. yet when i follow-up on this and ask them, your entire study has no specifics, namely because they don't want to miss any studio that they want to advertise. that is no reason. we have two examples. magic mike, the stripper movie, it was a huge hit. no one had any idea. they said that their trailer search data guy everyone thought that this movie would do nothing. there trailer search status of the movie would open up 40 million. they came in at 39 million. >> 40 million.
twice the expectations. it was very impressive. we have the great example. if anybody went on to search about that film, the great trailer promoting. very entertaining to the women who want to see that film. did very well. that's one reason. dennis: in the other example was. >> exactly. dennis: they predicted -- >> the studios thought that would do very well. they go we will model didn't think it would do quite that well the action sequences. to do that well. the money. dennis: based on the board game. they thought -- hollywood thought it would open at 40. comment. twenty-five. >> yes. >> more interested in figuring out what will hit big or figuring out what will be a flop.
>> obviously figuring out what will be big. it's all about making money, but if they ccn tell the movie won't do as well as to of course they can cut their losses where they can and let a movie guide very quickly if they want to and ordered to cut their losses. dennis: looking at dual searches. social networks generally, a they track twitter sentiment. >> 510 million. what they found is that there's been a massive increase in on-line buzz. the past couple of days. >> the purge. it is a crime jump, futuristic. fascinating. if you see the trailer, the audience is excited about it. it will do very well. it will be number one this weekend. so this is all here. very, very important. they could be on to something
teeseven they do a lot better job of predicting stuff that some of our government snoops. thank you very much for being with us. thank you. good job. that guy is really good. coming up, one of the country's top japanese restaurants says no more tipping and all. the restaurant's owners says it is all for the right reasons, and he will be here to explain why. at the end of the day it is all about "money." ♪ at od, whatever business you're in, that's the business we're in with premi service like one of the best on-time delivery records and a low claims ra, we do whatever it takes to make your business our business.
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♪ teeseven. dennis: an unhhard of idea at one of the best sushi restaurants in the country. in keeping with japanese tradition in new york city, banning tips from customers. that's right. but it is raising the prices to make up for it. the owners say they don't care. they're getting a more enjoyable experience. here to explain. >> co-owner and co-founder. tell us when you did and what has been the response. >> we just bought this a couple of weekk ago. the idea was to bring as much of a pure, traditional, classical
batting experience when it comes to sushi to the all-breed no tipping. it is not the custom in japan. the united states is kevin anomaly. most of europe and other countries, for us it was about creating a more robust and classical dancing experience. dennis: most americans are utterly unaware that in japan there is that tipping. does it turn of the two-thirds of your customers are japanese and appreciate that or does it turn out most of your customers are americaas and distant they're getting a break on the press? >> i don't think it's either. most of the people want that pure classical experience. to know that you don't have to bring a calculator, do any math and enjoy your sushi, see if the check looks good and if it does your fine. the feedback has been at first, well, this is odd because even japanese and other folks in the united states are used to
seeing, you know, the tipping is the norm. the reaction so far has been, really? maybe i will order 20% more sushi next time. dennis: he noticed that some people are insisting on tipping? they just wanted to. >> i think the habit, the reflex is so ingrained here that it is almost kind of a reflex to want to put it to appear. but once they see -- we let them know that, you know, following the custom in japan we don't except to the. our staff to our salaried professionals, and what they see that they understand that they're having a more traditional experience and make that adjustment. there is that initial, when the man cannot understand this. dennis: if reelected testing me. now, a lot of restaurants i believe pay their workers lower than market rates or lower than minimum wage because they do get tipping. what you do? >> so we do is say our employees
, staff, all professionals..3 on salary. dennis: before you banting? >> always on salary. some get bonuses. they have health insurance. they have paid vacation. we treat our staff as kind of true professionals. they have unique training. a unique background where they can share this experience effectively with our customers. and so for us it is really about just having that full authentication. dennis: but if i was one of your best waiters beforehand and then you stop stepping you just give me a 15 percent roughly pegged at unless you give me -- did you increase staff salaries? >> so we did was we took a fluctuation out of the equation. traditionally speaking see a fluctuation. some dazes lessons and this is more.
overall your staff can actually, as you point out, be paid quite a bit less than what they might be paid if there were on a robust salary. this is an approach we have always had actually. previously we took the tips and fold them into revenue to pay. but we just said, we will keep its salaried at an even level. as we have always done it. we will sort the restaurants will absorb the fluctuation. now we're just taking the fluctuations out. dennis: give me a bump up on not? >> there was no change in terms @% the net pay. dennis: we have to go. thank you for being with us. scott rosenberg, next job. next on "money," who needs hollywood when you can make bank on broadway? tom hanks making a really nice splash on the stage. we have all the details in "spare change." you can never after much "money." ♪ [ kt ] you know what'smpressive?
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helps minize stress, whi may damage supporting teeth, by stabilizing your partial. and 'clean and protect' kills odor-causing bacteria. care for your partial. help protect your natural teh. dennis: justin, facebook ceo has actually personally responded to the controversy over president says, want to respond personally to the average as press reports. facebook is not and has never been part of any program to get the u.s. or any other government direct access to our servers. we have never received a blanket request or court order from any government agency.
asking for information or mitt a data like the one verizon reportedly received. if we did, we would fight it aggressively. we had not even heard of prison before yesterday. when governments asked facebook for data, zuckerberg says, we review each request carefully to make sure they always follow the correct processes and all applicable laws. they only provide the information conveyed is required by law. we will continue fighting aggressively to keep your information six unsecured. we strongly encourage all governments to be much more transparent about of programs aimed at keeping the public safe. it is the only way to protect everyone's civil liberties and create this safe and free society we all want over the long term. this from the ceo of facebook which gets accused of violating privacy and this guy is coming out against the government in favor of privacy. kind of interesting.
we're joined by jared guy ran off and before we start to the first item to my want to hear what you think about katie weighing in on this directly. >> he has that taken the side of the government. dennis: against the government. >> someone that i am personally afraid that might have permission is getting out there. it is precarious. >> by going public staking his reputation and the reputation of this company by saying that they are representing the they don't release that seventh mission. a nice little bit of jujitsu. he took the controversy and now suddenly he had switched sides and as a protector of privacy. brilliantly done. dennis: first off, an actress to appeared in the hit show the
walking dead has just been arrested for allegedly sending rice and last letters to president obama and new york city mayor michael bloomberg. reports said she originally called the fbi to implicate her husband and the crime. what do you say? arrow in the walking dead. >> to this kind of frightening. wonder what he did to this trough. her husband is actually in the process of filing for divorce. this is retaliation for whenever it -- for whatever reason. i mean, how you deal with someone like that? dennis: they would not have done and arrested did not have some sort of evidence. >> why is your dirty laundry oot there? for goodness sakes, take your personal stuff and just keep it behind doors instead of acting out and sending a letter is. dennis: feeling jealous that is getting all the publicity. >> i did this recently. i believe it was a senator.
and they think it is a copycat acts. they actually felt that she probably thought it was a good idea in a way to get back and harassment, but this is not the movie. this is real life. you don't send out letters like that. giving our government's massive program, i'm wondering why it has been so hard to figure out the right guy because they originally arrested an elvis impersonator and then dropped it . >> you would think that they have all this access to our phone records, what we're saying online, potentially facebook. you would think it would be a will to identify that person. dennis: maybe they could have caught the rise in nuys. here is how you make it. >> the updates. dennis: next item, we all eight parking tickets, but one government has taken to ebay to ease the pain, but at this parking tickets for sale on that site because it can't afford the fine and said all proceeds will go to pay off pretty low and behold enough people have bid on the parking ticket they want to buy that the price he can receive has exceeded the fine he must play to taipei. would you bet on it?
>> first of all, according to the into consumer spending in nexttcommand of spending six to $700 more than women. a love that this guy is doing this, but what is next? reality show? could be at the jail? it is really -- i think it is a little bit of a joke that he is letting people pay for his sort of free tickets to get this parking ticket. dennis: why are they even bidding? >> it is kind of funny. when somebody would pay my taxes for me; ebay and do that. he will take the proceeds in donated to a family. dennis: as we head into the weekend tom sullivan has something to say about the scandal that has embroiled the irs. >> it's easy to attack them because of the recent disclosures. people always liked the tax
collector going back to ancient times. but i here you're supposedly smart saying it's time to get rid of the entire internal revenue service. really? even the smallest of small businesses have to have somebody recording account for the money coming in. you've heard some of the scandal from this is the perfect opportunity for massive tax overhaul. how does the problems of one subsection of the internal revenue code equal revising all of the sections, thousands? i get it. you're mad and you don't like the tax cut. yes, we shoull simply by answering the irs down to a much smaller government agency, but let's be realistic. let's start with just fixing the section that seems to be open for questions. start more clearly define what it is. if you really want to make the irs prick up, aggressively prosecute the individuals who did the targeting. since some people to jail. that will get their attention for what. dennis: thanks. be sure to watch the tom
sullivan show this weekend. you can get to that seven and 10:00 p.m. on saturday, sunday at 7:00 a.m. and 7:00 p.m. eastern. happy friday, everyone. "the willis report" is next. ♪ gerri: hello, everybody. i'm gerri willis. tonight on "the willis report" new questions about safety at construction sites all over the country. as the fallout mouse from the deadly building collapse in philadelphia. also, it is the biggest dragnet of consumer information and our nation's history. the uproar grows. >> you can't have 100 percent security and also then have 100 percent privacy. gerri: the market's jump. the dow higher for the week. how do you lock in profits? we are watching out for you tonight on "the willis report"