tv Varney Company FOX Business January 21, 2014 9:20am-11:01am EST
♪ ♪ >> wall street is back, and you might say it has come roaring back after the three-day weekend. good morning, everyone. there's a headline in the journal today. it says "fed set to trim stimulus again" that means janet will print less, but the dow is set to open sharply higher. maybe it's a whole new market rally. elsewhere, big stories breaking and a democrat worth an estimated $20 million says the income gap is a direct threat to america. can't make it up. and yet again, america gets the
blame for everything. a group of professors says we are responsible for china's pollution because we buy their products. "varney & company" is about to begin. [ male announcer ] this is the story of the little room over the pizza place on chestnut street the modest first floor bedroom in tallinn, estonia and the southbounbus barreli down i-95. ♪ this magic moment it is the story of where every great idea begins. and of those who believed they had thpower to do more.
>> there are times when our country is confronted with a crisis that poses an exessential threat to our nation and our way of life and congress needs to stand up and act. the test of our time is inequality. it's not -- it is not too much to say that inequality threatens the continued existence of the middle class in america. and even the american dream itse itself. stuart: democrat rosa delauro claiming income inequality is the biggest threat to our way
of life. left unsaid is her financial success. in 2012 she had the net worth of between 5 and $25 million. look, it's becoming clear, democrats in congress and the president himself staking out political turf. their issue is income inequality and this is an election year. look at this, from 2009 to 2012, the first three years of the recovery, the first three years of the obama term, the top 1% of earners captured 95% of all the income gains under president obama's leadership. the income gap has widened more than under any other president. we'll move on from there. time is money and so, in 30 seconds, here are the headlines in tech again today. alibaba, the amazon in china, it has to expand to mobile users saying each employee must sign up 100 users to its messaging app by november or they won't get that all important bonus. next, to apple, reports say
that a new iphone is expected to launch this summer. also from apple, it will repair broken iphone screens for $150. seems a little steep. last one, and it may be time to change your password. according to splash data, the top three worst passwords are in and they are 1, 2, 3, 4, 5, 6. password, and 1, 2, 3, 4, 5, 6, 7, 8. now you know. all right, everybody, don't look now, but we have a rally. stocks look to open sharply higher today after that long weekend. even after the wall street journal ran a headline the fed will slow the printing presses. markets going up, find out how much. watch it next. my dad has aor ab.fibrillation, he has the most common kind... ...it's not caused by a heart valve problem.
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♪ i got chills, they're multiplying and i'm losing control♪ >> well, actually, seems we only pay attention to the weather when it hits our part of the country. i guess you could say, indeed, we're new york centric, but it's going to be bad today. up to a foot and then another deep freeze and by the way, nearll 2000 flights have already been canceled and there will be economic impact. here we go, 20 seconds in the opening bell and come in scott
shellady from chicago. a headline in the journal, the fed's going to trim the surplus and print less. >> there's more and more play in chicago and starting to it in the hallway. we're going to taper not because things are getting better, but because it's a failed economic policy and they'll have to do something with the stimulus in most scenarios the economy is not doing as good as it should. and by the end of the year, that's what the guys are talking about in the halls of chicago. stuart: we're glad to hear it. we're off and running. the dow is up only 3 or 4 points at the moment. the futures were indicating an 80-point gain. let's see if we get there. we're up 21 now. i want to go straight to amazon. it's planning to shift products before you place an order for them. so, nicole, look at that. 402 is what i'm seeing.
nicole: isn't that seem ridiculous? they say they know what i like based on my searches and previous purchases. do they really know what i like and i'm going to buy? mind reader amazon up at 402.36 and up in the last year. stuart: they're not going to ship it to your house before you order it. they're going to ship it to a center, a warehouse near your house before you order it so that if you do order it, it will get there quickly, okay? >> okay, no mind-reading, but okay, i like it. stuart: the blackberry, i'm told that it's surging this morning after the defense department said the smart phones are going to account for 98% of devices in the one of the networks there. nicole? >> that's beautiful, 9% gain for blackberry. blackberry has been struggling, but it's known for its obviously high security, 9.3% at 9.93 a share.
stuart: that's a surge. we missed you yesterday, but you were on the air on tape, okay? alibaba, the amazon of china, the ceo says the company faces challenges. remember yahoo! owns about a quarter of alibaba. yahoo!'s stock no change, dead flat at 40. the apple front, the apple stores are going to replace your cracked iphone screens. you'll have to pay $149. one of my producers said that's a little steep after having shopped around a little bit. the stock is barely budging. should be good for revenue. $150 for a cracked screen sound like a lot to me. a chinese publication says iphone's 6 reportedly with surprises will launch this summer, that's why apple is probably up a little there 542. market watcher shah galani is
here. this is an example of the world believing the fed will print less and the market still goes up. what's your explanation here? >> i think the market has nowhere to go, but up. in fits and starts. as i said in your show, it's a generation bull market. the fed indicated long the they're going to keep the rates low. and i think that tapering is a matter of sticking to their word and they have to do it and beginning, they've already begun and they'll continue forward and that's good for the economy. we need less manipulation from the fed and see where things fall out in terms of economic growth. stuart: you'll repeat this for me. you think it's the beginning of a generational bull market. >> yes. stuart: we're going a lot higher? >> i think we could double from here, not overnight, but maybe a couple of years. if you look at basic statistics i look at. in 1997 there were almost 9,000 customers listed on the u.s.
exchanges. today there are fewer than 5,000. so the supply is just not there. so there's always capital created and capital is coming into the u.s. markets so it's going to continue to be a form-- a strong base for equities going higher. there's going to be plenty of opportunities across the different markets in terms of earnings, in terms of technology and banking stocks will move higher still. and we've got a lot of great underpinnings for a strong market for a lot of time to come. stuart: you've made a lot of our viewers happy there, shah. make them happier still, think out of the box away from the amazons and the apples of the world. two stocks you think are going to do well. i know what they are, you're going to start with tivo, go. tivo represents a good play on the technology sector, underpriced relative to the other stocks that are leading technology. so i like, you know, something that's got a value to it. over a billion dollars in cash and it's got about 175 million
dollars long-term debt. and it's in the middle of a 52-week range. to me, that's an opportunity. and tivo, besides we know what it's doing and you can manipulate your television and save shows and record them and play and advance them, et cetera, et cetera. tivo has the research arm that's actually watching what you're doing when you're using the tivo box, which are going to be eventually just on the cloud, and so, the research department is channelling that to advertisers. so they have a whole other division that's going to kick in i think shortly and produce more revenues. it's a great opportunity. >> you've got 20 seconds to tell me why you like best buy so much? >> like best buy, basically a turn around play. it took a hit, the stock did from january 17th so we just like getting into the stock here, where we've got a little valuation, to the upside here, we've got a cushion on the down side and like it from that perspective. it's just a good play. stuart: thank you very much indeed. shah galani, by the way, google hit a new high, 1,162.
several upgrades for that stock and up it goes. 1160 right now the high. and an update on the target hack. two mexicans trying to come in with credit cards, they believe stolen with data from target. >> i think it would lead to chips. >> a lot of people think it's going to be great for american express. the mexican nationals were 27, 28 years old. young guys and used the fraudulent credit cards to buy tens of thousands of dollars worth of merchandise. yes, stuart, it's going to open that conversation of chips placed in to prevent this from happening and i think it's going to open up for all kind of technologies to explore other options from credit cards, 40 million credit cards were compromised in the target
breach. people are going to be skeptical about using their credit cards now. i think you're right, dead right. thank you. let's get to obamacare, this morning we have with us, perry ann, she was there the day that obamacare was signed into law. welcome to the program. a lot of people believe that the real goal of obamacare, the real hidden agenda was the creation, eventually, of a single payer system, socialized medicine. was that ever mentioned when you were in the white house on the day that obamacare was passed and signed? >> no, absolutely not. and i think that's giving the government way too much credit. i think what we had was a handful of bureaucrats who thought they were smarter than the free market forces working together, but that's how central planners think. but eventually the free market will-- due to market forces, will make the central programs eventually implode which will happen to obamacare eventually.
could it head to a single payer system? i don't think so. stuart: how on earth did you, with an opinion like yours, get into the obama white house? >> it's the irony of my career. college is a time you're could discovering yourself and it took me going to washington and moving from florida to be inside the obama administration to understand that. this were not the political ideas i believed in. stuart: one fast one for you. was the president overtly hostile to wealthy people? did you pick that up while you were in the white house? >> no, no, i think a lot of his intentions really were to help the greater good, but again, these handful of government bureaucrats think they're smarter than the whole market together which over time will see that these policies will never work. stuart: when are you running for office, perianne? >> i'm not sure.
i'd love to run for office. i don't think there's enough representation for the millenials in the congress. >> we'll see you again, i predict. thank you very much. >> thank you. stuart: the airlines have already canceled maybe 2000 flights ahead of the storm that's heading right up the east coast. last time we had a storm, jetblue stock was punished because jetblue had preemptively canceled flights. sandra, i think they did the right thing than leave people stranded. >> yes. stuart: they got punished for it. >> obviously, upsetting passengers and people probably fly southwest or spirit airlines because they fear jetblue will cancel their flight. but they say the reason was to rest their crews. that's a reasonable answer, however, we have a lot of snow coming this week, it's already snowing outside now, we're expecting more later this week. i'm looking at jetblue shares right now, up 3% and they're
outperfo outperforming all of the competitors in the trading session. if you look, jetblue underperforming, southwest, spirit airlines. so, long-term doesn't look so great for the company, but today they're outshining their peers. maybe the market will start to like this strategy from jetblue. stuart: do the right thing and get rewarded, wouldn't that be something? sandra, check the big board. we did not get the blockbuster rally we thought at the opening bell. we're up, but only 25 points. that puts the dow shy of 16-5. after the break, a 27-year-old running for congress and he says that obamacare is killing entrepreneurs. he will explain himself in a moment. ♪ because i am an innocent man ♪ i am an innocent man nights
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>> well, i guess you could still call it a rally. we're up 16 points, but it's not quite what we were expecting. all right, let's move onto the price of gold. 1239. we're down $12 this morning. activist investor daniel lowe's third point have taken a stake in the chemical maker dow. a new high for dow up 7%, now, that's a rally and a half for a company that size. 7% higher. verizon swings to a profit. no reaction, the stock is down 1 1/2%. 47, verizon. let's go to obamacare. young people are not signing up. we know that. our next guest says that the law will hurt young entrepreneurs. he is running for congress in louisiana and starting his own tech company. paul, welcome to the company. you say that obamacare hurts young entrepreneurs and you're one of them. spell it out. how does obamacare hurt young
entrepreneurs? >> yeah, absolutely. the laws have the price controls that increase the cost directly for young americans and what that does is whenever there's-- whenever you increase the costs on young entrepreneurs, that means there's less money in young entrepreneurs pockets to spend on innovation and young employees and just growing their business. one study american action forum actually said that the prices-- or the costs could increase by 200%. stuart: what about for your company? i know you've got -- you started your own high-tech company. >> right, it's a technology fund raising software company for causes. i think it's pretty simple, in the software industry, in the technology industry, in the on-line industry with these increased costs for young entrepreneurs to try to start businesses, it means we might not end up having the next facebook or the next amazon because it has -- it puts young entrepreneurs in the situation of thinking, well, should i
stay at a big company and work and get my paycheck or should i go and try to pursue the american dream and create my own company. >> i'm running on the fact that there are very few people up in washington that are fighting for the next generation. i believe that if, you know, the congress and the president are going to push all of our current problems and issues of our country onto the next generation, then it's people from the next generation that have to stand up and lead. stuart: i've got you on that one, but explain to me why young millenials should shift their vote. because in the last two elections they've gone to the left, they've voted for president obama and democrats for a large majority. why do you think they will shift in this coming election and vote to the right? >> well, i think the honeymoon phase has worn off. young americans got caught up in let's provide health care for everybody and let's do
this. it was a very emotional response. i think that young americans are starting to vocalize their opinion, hey, we don't want the government so involved in our knives and snooping on us and we don't-- >> hold on. okay, obamacare is a big issue for you. okay, is privacy? you call it snooping. is that another issue that you're going to run on? >> oh, absolutely. i mean, as a founder of a software company that relies very stron our capability to protect sensitive user data, you know, the government shouldn't be breaching the fourth amendment of the constitution. the congress 220 years ago realized and decided hey, we need to put this in place to protect the people from unrightful search and seizure. stuart: i'm told you're going to win and you're way out front. would you then become the youngest member of congress or close to it? >> well, i guess that depends on how many other young republicans we can get,
convince to get into the races across the country for the rest of the year, but that's what i'm told. stuart: okay. >> stuart, may i? >> yes, please. >> paul. lsu grad on the table. you're the grandson the paul diesel. >> yes, my grandfather, 1958. >> first championship. >> i'm glad we got that in. >> good luck. stuart: we wish you well on your campaign. >> thank you, and congratulations on your fourth year. stuart: you can come back. big problems in china, in many so areas the air is so thick people can't breathe. according to some academics, it's your fault. back in a minute. ♪
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stock. also down 1 1/2% at 85. my take coming up next hour, all about income inequality and how the left is going to use it this election year, income inequality, 10:25 this morning. a new study blames us, u.s. consumers, for the air pollution in china. according to a new study that pollution blows across the pacific over the united states west coast and hits us here. sandra, this study basically says it's our fault. >> right. they're saying that this is-- the study says, quote, outsourcing production to china does not always relieve consumers in the u.s., for that matter, many countries in the northern hemisphere, once again they're putting the blame on us and quite frankly, it's kind of disgusting. stuart: it is. it's really annoying. look, we don't make the stuff, we buy it. therefore, it's our fault? i don't see the logic in that. >> this is making headlines on
cnn and the pages-- >> i haven't read them. and the french president's affairs, plural, shows that francois hollande's popularity increased, it's up from 26% in october. would you call that a silver lining to a sex scandal? >> i've been somewhat obsessed with this it's so french and european. the second he announced he was going to have a decision on who his first mate was going to be by the time he made a visit to washington in february, he made an announcement, it's just been a love triangle i think that the new york post has been obsessed with it. stuart: we saw the front page of the new york times, the pictures of his three paramours. >> the odds are leaning to the beautiful french access. >> she gets the first lady of france prize. >> and the elegant move, does she move into the house, do
they have to wait. stuart: they're saying move on, move on. remember affluenza, the claim in court you're too rich to know right from wrong. remember that one? there's a push to outlaw that defense in court. we've got that and plus, the actress maria conchita alonzo quits the show she was in after an furor over her support of a republican candidates. author will be here in a minute.
stuart: one day after our four-year anniversary. thank you for your kind and generous comments on facebook. you really are great. affluenza. i don't know right from wrong because i am rich. they want to ban that defense in court. and a conservative opinion forced to drop out of the show she is in. here with that. the new privacy issue here today. shaking up the car service, as in the key questions today. and does the extra point make the nfl boring? the nfl might get rid of it. starting now.
it ain't what we were expecting. 15 points higher, that is all we have got. let's bring this to your attention. the fed set. market still goes up which proves you are right. charles: the same day they announced it was up another 200 points in the next couple of sessions. we will see a consolidation. if they missed, they get hammered. confirm at least they're making the right decision to transition from a fed printing money or whatever accommodations.
liz: the jobless rate is a nonbinding indicator of the fed can still move the goalposts sees any downturn. we are seeing strong stocks in a bubble. high-value residential real estate in a bubble, exotic cars in a bubble. that is an issue. profit margins at an all-time high. where would the market be going forward? i see more slow low growth. deleveraging which means interest rates won't have an impact and overseas exposure.
the doesn't pick up, it will get hit. stuart: a good shot. stuart: he is now a raging bull. charles: that is where i get scared, to be honest with you. stuart: alcoa hardly moves, but today is a different story. tell me why. nicole: positive comments from jpmorgan. they put in overweight rating on this one. they talk about the premiums have been escalating rapidly the past few weeks. stuart: travel website expedia down big.
some are actually had expedia up 110% for 2012, they raise the price target down 5.8%. some people talking about the fact that was report of a long-term visibility on google so this may be a correlation between how do you get to expedia through google. there's interesting note pertaining to that. it may just be a simple as click on google, i cannot get to expedia. that is the simple thing that can hurt business. stuart: how is this for an incentive? each employee has set up 100 people for the messaging app by november or else.
they won't get their annual bonus. charles, i see absolutely nothing wrong with that incentive program. charles: you work for the company, push the product. >> if only the federal government had taken this. stuart: what is your problem? >> essentially the chat app he is pushing, by the way they're waiting to do a public offering. it is an inferior product to the competitor. something like 200 million users versus 1 million. this is like comparing google to microsoft bing. terrorizing their employees to get customers to sign up for an inferior product by withholding bonuses. i think that is to be debated.
set the employee model you want to go for? charles: has be one great burger, but if you work at an inferior burger shop, will not tell the customers go with the other guy. >> like they had to get signed up for layers with apple iphone taking people away. stuart: yahoo owned a quarter of it. look at what you have done. moving along, the actress best known for her role in "the running man" such was forced to quit a role after taping for the
governor of california. >> democrats, normal people, nowadays the past few years you are attacked for speaking out. stuart: let's bring in the ultimate hypocrite. okay, jason, what do you make of this? >> liberals in the media, academia or hollywood have a compulsion for uniformity. they make seeing the virtues, but that is only if you described to their belief systems. finding out the hard way. here's a woman who got drummed out of appearing in of all things the spanish-language version of the monologues supporting republican for
california governor. the quote by the producer of the spanish-language, had to bring it here and it shows yo what yoe up against. we are in the middle of the mission doing what she is doing is against what we believe. so being a conservative is the belief. stuart: i will just question of hollywood is in fact in lockstep behind for president obama. this week fox news visited the sundance film festival and spoke to a variety of celebrities on their way in to see the movie and had a chance to talk politics with some hollywood celebrities. >> are disappointed in president obama?
>> in all honesty disappointed in the statement of the century. he will go down as without a doubt having cleaned up jimmy carter being the worst president ever. >> shrinking them down in size, maybe we should lift the poor up instead. >> my opinion. i don't know a lot about economics. i don't know how much of the wealth can be redistributed. what do we do? >> what, are you kidding me? i am a stupid actor. stuart: i was a little surprised by what o some of them told the. >> he does great work. it is no surprise, think he
endorsed michele bachmann in the primary. he is a republican at least in hollywood. you talk about redistributing the wealth, definitely celebrities get a little bit touchy about that because they are that 1%. when they hear how much taxes are already paying in california, and not paying enough. you think they will now flooding? you had all of these are listers at the white house turning into a nightclub. stuart: is at the white house, john legend, a lot of celebrities were there. a lot of celebrities.
that is who the president relates to. some have a problem with that, i don't. how about you? >> i guess i am ambivalent on it. if it means she spends more time with her hollywood peeps denting it up in the west wing and less time nagging us o and what we cn cannot use, i will go with her dancing it up with her hollywood peeps. the last five years we have seen week after week this red carpet entry into the oval office extending to hollywood. it should not surprise us one bit. it should be newsworthy if obama had a low-key 50th birthday party. stuart: the dow has now moved negative. we were confidently predicting
it would be up 80 points. the last 30, 40 seconds were down three points, nicole tell me about google. nicole: people love it. a lot of people continue to see it to the upside. a lot of analysts raising their targets. 1450 outperform. stuart: 1450 you say? nicole: 1450. what is 1162? upside potential now. stuart: we talk about this sector and this stock, are you still bullish on 3d systems? >charles: i like to see a pullback. it was upgraded.
while downgrading 3d. clear that his people picking winners and losers in the space. they were all going up together. you can see more of a defined. i do think strata sizzle be the one. that is the one that will be taken over. i am licking my chops. stuart: google acquisition of nest is raising more questions about your privacy in your own home. google will not be tracking you. what does the judge think about that? he is up after this. [ female announcer ] who are we?
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the first show you this house in new jersey, the renter wanted $1500 per night. that has been doubled. they now want 3000 per night. big game. look at this, north montclair, this is in new jersey. this is how high the price they're going. we need at least a week, $119,500 per week. tommy the super bowl is bringing in some serious money. charles, make us some serious money with the apollo group. charles: at those rates, are you kidding me? the for-profit schools i think turned it around. had to change a few things. they were out of control, there is no doubt about it.
the last two or three quarters you can see inflection. enrollment starting to rise rapidly but also regaining pricing power consequently 2014 and 2015 has gone up dramatically. they keep beating the street. i am liking the way this is out there, it will continue to move higher. stuart: great chart, by the way. google may news with the purchase of the nest smart thermostat. a device connected to the internet and it sits on your living room wall. it can learn the habits of your life. sounds to me a bit like big brother. this could give google even more access to your private life. the nest ceo, the acquired company, says don't worry, they will not be sharing any of their customers personal information with google. so we are okay, right? all rise, judge andrew napolitano is here.
>> google owns them. how can they say we will not tell our bosses about you? we chuckle about it, but this continues to further it. those of us defending privacy feel like we are shoveling against the economy. this is even worse than you have gingerly introduced it because what these folks really should be concerned about if you have a product in your home is not google, but the federal government because the federal government has the ability to connect wirelessly to the computer chip inside these devices so that the nsa or the cia, whatever intelligence agency uses this wireless software can determine when you are in any room of your house. it doesn't bother you, so be it,
but if you don't want the government in the house with you, don't use this. stuart: looking at you in the privacy of your own home, 24/7 matter who you are or where you are, the government has ability to look at you, that is a brother. >> he said i don't want anybody recording it. it revealed the cia has ability to connect with the microchip in dishwashers and microwaves. they have algorithms that can predict when you are going to be in your kitchen, combine that with the nest devices in most major rooms in their homes in order to adjust the temperature of your house in each room, the cia or the nsa can actually know
where you are in each room. you cannot use the product. it would be very difficult to buy a program that doesn't have a computer chip. can't we elect a government that will cite the permanent parts of the government, the parts that don't change every two or four or six years with elections stop. because the constitution prohibits it. this is not the kgb. we don't want you doing it. stuart: would have to trust the word of the government. we agree with you, we believe you. stuart: that is a fine out queue.
we will be on this story forever. stuart: thank you, judge. income inequality. the platform heading into the elections. sidestepping the real issues that matter. that is my take, and it will be next. >> it is not too much to say that inequality threatens continued existence of the middle class in america. and even the american dream itself. [ me announcer ] this is the story of the dusty basement at 06 35th street the old dining table at 25th and hoffman. ...and the little room above the strip mall f roble avenue. ♪ this magic momt it is the story of ere every great idea begins. and of those o believed they had the power to do more. dell is honored to be part of some of the world'great stories. that began much the same w ours did. in a little dorm room -- 2713.
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stuart: wouldn't you know what, we put this stock, game stop, on deathwatch. up it goes, 3%. the adverse indicators. richard sherman stealing the early super bowl headlines. here's a question following that they grant. did he actually give a huge boost to the ratings for super bowl itself? my answer is yes, he did. and affluenza. the teenager who got off saying he did not know right from wrong because he was rich. though there is a push to and that as a defense in court.
a very wealthy connecticut democrat says the income gap is a threat to america. she is laying out the rallying cry for democrats and the president in this election year. that is their choice of issue. here's my take. worth about $20 million. making her a part of the income gap. the biggest widening of the gap. a worsening of the problem. what is going on. surely there is no element of distraction here. it has made a mess of the health care system and they don't want you to think about that as election draws near. the mayor of new york won a landslide election by blaming the rich for everything.
maybe it will play well on the national stage as well. it sidesteps the real issue, and that real issue is what is causing this growing income gap. the breakup of the family unit, super parents ar a hard time climbing the financial letter. the breakdown of educational standards, it is the welfare trap, lack of economic growth and a whole lot more. voters have to ask what has a president done the last five years to tackle the deep down problems. the short answer is not much. he has failed to stimulate real vigorous growth. and we haven't even started on the massive debt our children have to pay off. the policies are making it worse. but watch out. still lots of anger out there, and the president trying to turn it to his advantage. there is votes in blaming
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you're the rock, at . and as your needs change er time you can adjust your bed to sleep better together. 48-month financing available through february 2 only at your local sleep mber store. find your sleep numbersettd know better sleep. open to innovation. open to ambition. open to boldids. that's why n york has a new plan -- dozens of tax free zones all across the state. move here, expand here, or start a new business here and pay no taxes for ten years... we're new york. if there's something that creates more jobs, and ows more businesses... we're open to it. start a tax-free business at startup-ny.com. stuart: three news items for you. number one, the nfc championship
put in a huge ratings, 66 million people tuned in. 51 the afc game, if you want to go to the beginning it will cost you luxury suites at the metlife stadium in new jersey where the going will be played going for $1 million. the average price of regular ticket on the secondary market, what is it? $3,700. last one, nfl commissioner roger goodell considering major changes to the rules, no more kicking extra attack as after a touchdown. touchdown will be worth seven points with the option to run a regular player to score one additional point, make the attempt, get it eight points in all but if you miss it your score gets cut to 6. i think that was a pretty good explanation. charles: 1 is a pretty good explanation but i like the extra point. if they want to make it harder duet from 20 instead of where you do it, keep that one point or make the option of going to
the two point place. adam: if you are watching on tv is a hold the is held up six minutes. charles: that is where you refresh the ships, and get another beer, good timing, that is why it works so well. stuart: okay, i will leave it right there. in case you do and won't argue, charles payne, after the fact. last month a texas team needed dodge the prison sentence after killing four people in a drunk driving accident. declaimed or his lawyer claimed the guy was suffering from af affluen affluenza, which he couldn't tell right from wrong. caaifornia lawmakers pushing a bill that would prevent anyone losing that diffusing that defense, los angeles, joined us for more in that one. good to have you with us. i see the intent here and a lot of our viewers will support the intent of what you are trying to
do but i put it to you you can't do it. you cannot tell a defense lawyer what defense he or she may amount to defend a client. >> there's a long history in this country limiting certain defenses public viewed as crazy like this one. in '92, voters turned california strictly limited not guilty by reason of insanity defense, you remember the 1980s when everybody was so upset about the proliferation by reason of insanity. by 1990 to the rehnquist court that the federal level limited the ability of prosecuting attorney to present notion of racial prejudice in certain cases when the prejudice was not directly tied to the merger. there was a history of limiting what can or cannot be introduced. stuart: point taken. you have got to define afflue a affluenza. the defense you intend to outline. how do you define it?
>> the bill i introduced defunded as the concept that an affluent out -- a bringing somehow mitigate or explains a defendant's crime. what this is about is returning a sense of personal responsibility to our justice system. it seems antiquated to some but really personal responsibility is what this is about. that is something i fear is rapidly diminishing society, people responsible for their conduct and will play in texas. stuart: are you are republican or democrat? >> i and the democrat. stuart: forgive me for saying this, don't mean to be pejorative but i'm not used to democrats talking about personal responsibility. i am not being pejorative on this. i am just not used to it. usually republicans pushed very hard for individual liberty, personal responsibility.
democrats tend to go for the state will provide, collectively will provide for you. you seem to be breaking the mold. >> point well taken. of like to surprise people now and then. personal responsibility, personal liberty are things very important to me and this is a defense when this teenager in texas killed four people, paralyzed effect, going into court and saying i was spoiled, i don't know the difference between right and wrong, i should get no jail time, that is something most americans think is ridiculous and they want to see return of notion -- notion of personal responsibility. stuart: i think you got the support of everybody in this room in new york and you will get lots of call for that one too. i do appreciate it. a new service could revolutionize the taxi industry. it is called sidecar. you use an apps to order a car.
a regular private citizen as your driver. the ceo of sight guard next. y've got copd like me... ...h breathing's hard. know the feeling? copd includes emphysema and chronic bronchitis. spiriva is a once-daily inhaled copd maintenance treatment that helps open my obstructed airways for a full 24 hours. spiriva helps me brehe easier. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinatin or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells, you get hives,
stuart: ali baba, the amazon of china, the company faces a challenges especially getting into the mobile market. yahoo! tones of quarter of ali baba, stock is down on this news. apple, they said their stores will replace your trek items for $149. the stock is up a little bit. a chinese publications as apple's iphone vi will launch this summer. abercrombie got $3. amazon planning to ship product before you place the order. they call it anticipatory package shipping, stock and $402 a share. blackberry surging, the defense department says the company smart phone will capture 90% of the devices in one of its networks. it has 6%. new kind of car service next.
we enable you to reach global markets and drive forward with broader poibilities. cme group: how the world advances. stuart: johnson and johnson stock is lower. the blade obamacare and medical device tax. how bad is it? >> that is only part of it, down 2-1/4%. the outlook here, guidance a little bit lower than people expected. pharma sales, the growth in that momentum may fall back a little bit, growth in medical devices and consumer products. stuart: they are blaming obamacare in part. charles: they mention the affordable care act several times and that is one of the reasons for the guidance.
stuart: the dow stock is down, taking 14 points off the dow industrials, down 43 points. dr -- charles: scientists testing instruments kind of play. we actually have an open position in 2007. metrics turning it on, and send the wrong symbol -- that is the symbol. and a postnatal test to test for development on an intellectual disability from children, this is a huge, first-time ever, just a couple weeks ago they preannounced their quarterly numbers significantly above what wall street is expecting, a company living up to its potential, dna sequencing, not just human beings but working on weed, nikolai, all kinds of things, mapping the genome, finally living up to its
potential. stuart: for the benefit of our listeners. and the ssmbol is -- >> ffrank x-ray. that is a chart and a half. when it comes to getting around town, and thanks to the car service tax industry. welcome to the program. i will tell our viewers how side are works. i go on line, dial up side, our answer at want to go from my studio on sixth avenue, new york to 72 street, and they bid on taking me there and it can be anybody, a private citizen who
said i will take you for x number of dollars. >> you more or less have got it. this is a network powered by everyday's people. and people say on where they are going on there smart phones. that is a bunch of everyday people with their own cars. and at the end of the ride, it will be added to your credit card and paying 20% to 40% for a taxi for that ride. stuart: you are employing everybody, headline the you are not some lunatic. how the i know you are licensed or have liability insurance. >> we do background checks on the driver's.
because of the power of this new medium, we are able to allow everyday people to rate the driver so when you take that right you are going to read it and other people, and how we are rated and and this is a safe system and everyday people. stuart: don't they need a taxi license to upgrade as a taxi in most american cities? >> here is the thing. we are in a new world. the smart phone enabled new capability, don't need a license, the california state, public utilities commission here has new federal rules, some of the drivers operating in a dry area made it clear that this is a legal and desired activity. stuart: really breaking the mold
here. hold on a second, charles payne is eager to have a go at you. stuart: some charles: this is cheaper than taxis. the first thing i'm thinking the ms. guber, significantly more expensive than limousine, taxes or anything else out there. how will you provide this and be cheaper than a taxicab? >> a lot of the net is we are enabling transportation network of everyday people. number 2 is we have this interesting, sophisticated matching algorithm that allows drivers to be matched up with writers going the same way. if you are a driver you can give rides for a few hours, go anywhere in a particular area or set it up so that on your way to work, when you are running errands you convict someone else ak isplagatins k a swhhis o rs o going the same way and the fasc.
we would love to her stuart: they are coming after you in new york city. charles: that won't be enough. stuart: let's have him back, fascinating stuff. seattle seahawks defensive back richard sherman causing controversy over his post game ranch but i bet you it will help the ratings for the super bowl. we will talk to im in a second. [ doctor ] and in a inical trial versus litor,
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lou: the iran nuclear deal starts up. syria peace talks off to a shaky start and afghanistan demanding the united states negotiate with the outfit we were there to throw out, the taliban. fox news middle east and terrorism expert dr. walid phares on the always tumultuous obama foreign policy tonight at 7:00 eastern.
please join us. stuart: we brought you the sound bite or the rant from seahawks' defense of back richard sherman. we will run it again. >> like that, that is where it is! doesn't matter talking about me! >> we were talking about you. >> you want to know -- understand real quick! stuart: a lot of people had a very hostile reaction to that sound bite. here is a little background. mr. chairman graduated second in his class in high school, he attended and graduated from stanford university. here is part of the quote or a quote from his apology. he says, quote, i apologize for attacking an individual and taking attention away from the fantastic game by my teammates. that was not my intent. i want to make two points. number one, that was a huge
boost to the superbowl's rating than number 2 that was one of the most intriguing and best post game athlete interviews i have never seen. usually coach, we did our best. it was from the heart. before you can't argue that. was 1,000% from the heart. there was a lot of animosity and earth history between these guys. he let it out. in this culture where everything has to be more sportsmanlike, there was immediate backlash but as it starts to subside people will give him a second chance and i tweeted immediately, this will make more money and endorsements than russell wilson, the squeaky clean guy, the quarterback of the team who would never come out with that sort about barista. over the next five years to get the most commercial endorsements, he has already got two commercials all ready. one is nike. i saw him in a nike commercial
land in something else. stuart: will he do we these? charles: if they win a super bowl. he may be obligated to. stuart: out of time but your take on an income in the quality and the democrats coming your way after this. cstnut street the modest first floor bedroom in tallinn, estonia and the southbound bus barreli down i-95. ♪ this magic moment it is the story of where eve great idea begins. and of those who believed they had thpower to do more. dell is honored to be part of some of the world's great stories. that began much the same way ours did in a little dorm room -- 2713. ♪ this magic moment ♪ ♪ this magic moment (voseeker of the suble. pro. you can separate runway diculousness... from fashionhat flies off the shelves. and u...rent from national. because only national lets you choose any car in the aisle... and go.
stuart: earlier i gave you my take on a wealthy connecticut democrat commenting on america's income gap, it is worth $20 million, she says the income gap is ruining the country. he is worth $20 million. here is what you had to say. one of our viewers tweeted income dropping, expenses going, obama has made long-term problems worse. mark had this to say about president obama. he and his party made things worse but they always claim to have all the answers. class warfare is always the trump card. they will use it until people wise up and see reality. wesley says when the breakdown of the family started that began
a breakdown of our nation. a fractured family means a fractured nation. i know you are itching to go. charles: everything all of those viewers said, rosa they laura, her father and grandparents came to this country from italy. stuart: she was a democrat? she said income inequalities killing our country. charles: she has been in office since 1990. earned net worth at the beginning of the recession was $5 million. they have made $15 million during the great recession. they should be embarrassed to bring this topic of. professional politicians making this kind of money and wondering why we have income inequality and then being so phony about this whole thing on a myriad of issues is despicable. there is more upside potential in this country now than when her father and grandfather came here. she should be promoting that and making it easier for people as opposed to trying to artificially adjust the outcomes for people. stuart: in fairness i do not
know what her solution is, but she is on board with the president and his answer is tax the rich, redistribute. charles: that is her solution. stuart: it hasn't worked in the past and she is the one who has benefited from what has happened in the stock market the last five years. charles: and what happened in the political arena. she is a professional politician. how do you -- charles: telling her what will fly politically. they take in the money. it is a beautiful racket. i don't want to add this anyone's livelihood but when they say america is not the america her father and grandfather came to there's more upside potential and there are more opportunities, more avenues, promote them and, and hands them. connell: thank you very much.
president obama begins his sixth year in office. the stock market near all-time highs, a growing dissatisfaction when it comes to the state of the economy. that might be the case. the u.s. sending air and naval assets to secure the winter olympic games, this after more concerns surfaced about a possible terror attack at the games in russia. more on that coming up and then a new music streaming service adds to an already competitive on demand music market. we have the latest on that. the snow coming down in the new york city area and across the northeast and causing major headaches for travelers, more than 2,000 flights canceled, expected to grow and get worse as the storm intensifies. all that and more coming up in this hour of markets now.