tv MONEY With Melissa Francis FOX Business December 3, 2014 2:00pm-3:01pm EST
ups worker forced into unpaid leave takes her case to the supreme court. nasa takes its first step towards mars. launching a capsule that could put you on the red planet or charlie gasparino. we'll see who. giving back in a major way this holiday season. one salvation army bell ringer received. but first the fed releasing the latest beige book report on the economy. peter barnes has the details. >> hey, melissa. according to the beige book, quote, national economic activity continued to expand in october and november and this is the beige book that fed policymakers will use at their next policy meeting at the end of this month. the report goes on to say that consumer spending continued to advance in most districts and quote, some con tacts viewed lower gasoline prices as contributing factor to higher consumer spending. in fact the report mentioned lower gas prices about a dozen times helping to increase shopping and dining out. the report is fairly upbeat across the board saying that in the survey period, there were,
quote, widespread employment gains, improved manufacturing, especially in autos and aerospace. construction and real estate expanded and lending was steady or rising. melissa, back to you. melissa: there you go. very positive it seems like. tom sullivan, what do you make of that? >> well there is something that fundamentally, economics 101 is wrong with this and federal reserve is latest to do this they talk about the fact gasoline prices are down, therefore will boost spending. i go, where did the extra money come from? all it is i'm reallocating my money from gasoline to movie tickets. but i doesn't have extra money to put into the economist. they keep saying somehow people are spending more. melissa: they talk about widespread employment gains. a lot of upbeat language in there. i hear what you're saying. we had a pretty good fdp print. so which are moving on. charlie has a scoop about uber.
>> goldman for uber. why is it doing that? in preparation from ipo, from bankers, every firm, are now pitching uber for an ipo. we should point out that goldman did a similar thing with facebook. private placement with private clients randgold man as you know, became one of lead underwriters. might have been facebook ipo. second lead after morgan stanley. this is interesting deal. this means that uber is clearly, at least according to bankers going public at some point soon. goldman clearly, doesn't work for free because it likes to work for fry. it is working what we understand, nearly for free on this deal. it is preparing to be the lead underwriter on this upcoming ipo. a lot of people think over next year. we should point out neither goldman will confirm or deny this report. uber did not return a phone call. melissa: is this bullish to you. >> absolutely. great news story. uber, first of all, headline news story. will be a wonderful ipo. expect them to raise billions and billions of dollars, great
especially when they're expanding. looking to go into uber pool and carpool service. >> can't wait to see how that works. >> goldman is brilliant. charlie is right. don't do anything for free. clearly is a chess match. >> if i was morgan stanley i would step up to the plate, you want a second round, we'll do it for free as well. >> every firm is pitching. this is the biggest deal for the next 12 months on wall street. >> i agree. melissa: alibaba. >> that is not bad. that is pretty big. melissa: president obama and the fights of roundtable. president meeting with top business leaders this afternoon and shifts blame to congress for lack of congress on corporate tax reform. listen. >> ultimately the challenge on most of this stuff has not been my administration's unwillingness to engage or get it done. it has been the complications of congress. melissa: it is always congress's fault. charlie you were snoring. did you fall asleep? >> if you know anything about
these ceo meetings -- melissa: they're a bunch of bs. >> yeah. these guys sit there on their hands. they don't really say what they really think. when it is over, what they think of obama. they really don't like the president. they don't believe that congress is the impediment to tax rerecall to. we should point out there was a bipartisan tax reform bill called simpson bolts, not bill, plan, put on president obama's desk where he could have gotten, if he twisted a few arms like on obamacare probably could have gotten that through. that would be have corporate tax reform. it never, never materialized. >> it was last time the president really led. it was his commission. simpson bowls was his commission that he put together. that is the problem he is sitting back like this, well, congress you do something. the idea for the president is to lead, be an executive. melissa: yeah. absolutely. all right, the president isn't only one throwing shade today. sarah palin stopping by "varney & company" earlier with harsh word for the president. >> when you hear president obama spew this bs about what he has
done to increase domestic supplies of energy, remember, it is bs. because on federal land he still locks it up. he still wants it locked up. it is private land, and it is state land where state leadership that understand why domestic energy independence is so important, it is what we have done to produce domestically. it is not what president obama has done. melissa: no, that is actually true. i covered energy for a long time. we are talking about private land and local stuff. todd, it is disingenuous for him to take credit, no. >> that's right. keeping something in mind here, when you start looking at the keystone pipeline you start thinking of that virtual left. how much will actually take place over the next two years? not very much. he is taking a lot of credit. bottom line the united states right now is the leading producer of oil on the planet. >> one of the problems with president obama and economy you really never see the business community step up. sarah palin is making a very good point. melissa: step up and criticize him? >> say the truth.
they know -- melissa: they're afraid. look what happenedded to jamie dimon. >> i agree, it would take somebody like mr. ," the guy from -- ," from cote, from honeywell. they really believe this is a guy not telling the truth about the economy and how he deals with corporate america. when you talk to ceos, i wrote this down because i didn't want to forget it, they call obama the four ls. arrives late. doesn't listen. lectures and leaves early. that's what more than one told me. that is what they believe. you don't hear that from them. >> charlie, ceos in corporate america will have their job a lot longer than president obama. >> they're afraid of their own shadow. melissa: as temporary period of time they need to survive through. >> how about the country? melissa: yeah. true. shopping online in your pajamas with a cup of coffee but new data suggestions it is a
nightmare for retailers. "wall street journal" report that because of shipping and packaging costs higher rates of return, some companies end up losing money online. walmart, kohl's, target expressed concerns about margins operating online. costs are counterintuitive, on line you don't have brick-and-mortar store, don't have a lot of expenses. when you look at that way, almost everybody is forced to do free shipping and return. i'm a more likely throw it in the box to send it back than have help sleep back to the story store and return it. >> purelien line outlet makes very few. "new york times," i if they make their margins based on online product versus what they charge on therapy print ads? this is a different ballgame. it will be very interesting to see how businesses are forced to commodity advertise basically. >> this has helped more, i don't know if anybody that measured it but, the fact that there is
really no, very limited pricing power because of the internet. melissa: right, right. because you can just instantly compare. you can google an item. they can't charge any margin whatsoever. always somebody willing to deal cheaper. >> great for consumer. melissa: as long as it last. >> as long as consumers are working. melissa: there is that. today's audit headlines, this is bizarre. appears cruise ship diners may have been throwing live lobsters overboard. researchers now believe that passengers actually have been buying live lobsters in a quote, misguided effort of animal rights activism. they have been throwing them overboard, throwing them overboard on cruises. this was written, originally in "the daily mail." they were finding canadian lobsters in england's northern coast, off england's northern coast. they were finding no other way they can get there. some still had rubber bands on their claws. people were throwing them from the cruise ship. of course they instantly die
because it is not their habitat and -- >> what i learned is that canadian lobsters can not mate with british lobsters. melissa: that's true. very good. you read the article. that's true. they said one of the chief executives of fishing group figured this out said they will not last any longer than if the passengers had just eaten them. >> what do lobsters look like when they're -- >> i don't know. melissa: really? this is where you're going? charlie -- i'm growing to move it right along. charlie is no stranger to social media. i hear you have a twitter showdown with another network. i don't know, someone who remain nameless. >> is he bald? melissa: i don't know. you have some sort of twitter fight going on here with someone, another network? >> keeps going on. yeah, was he really a former hedge fund manager? melissa: i'm not sure. remember there was very short period, we're being sarcastic. there was very short period of time he went and was working for
a fund. >> became a subadvisor actually. melissa: thanks for saving us, todd. >> in fact he was a sub advisor ended up shutting it down or at least -- >> why did he shut it down. >> didn't raise money as 90% of all hedge funds. i don't begrudge people rolling dice in capitalist system and hope he find fruitful employment in the future whatever he is doing. he said something to me. i said something back. went back and forth. melissa: there was a little twitter fight. it seems like maybe he was taunting you today over on brand x. >> go get this. melissa: happened to not, we were sort of wondering, i can't find that channel on my dial but other people -- >> want to say people he on the air with are friends of mine. i don't want to attack them at all. melissa: you start that -- he is a great guy and i love him. >> but i crush him. melissa: exactly. >> that is one of the most boring things, because i was sitting there watching it --
melissa: you were? i don't think we get that channel. >> oh god, i rather watch a chicken left roast. anyway. melissa: there you go. more proof everyone love as winner. gop bandwagon crowded with fans but still good seats available. plus george h.w. bush socking it to the opposition? the former president putting his best foot forward with a bold fund-raising plan. smart money coming up. ♪
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melissa: this hour a rare meeting at white house, president guam sitting down with incoming senate majority leader mitch mcconnell. the meeting comes as congress rushes to pass a spending plan to avoid a shutdown. first democrats taking a beating in midterms. now this, a new poll americans are shifting towards gop. 42% of voters lean toward the party compared with 39% just before the election. i'm joined by steve moore, fox news contributor, chief
economist at the heritage foundation. charlie and tom are back as well. teach, what do you make of this? >> do what the idea that americans have fallen in love with republicans. what happened here, melissa, they have fallen out of love with democrats. i think this is just as the election was, this is just reflection of the fact that the american people have lost confidence in this president. they have lost confidence in nancy pelosi and harry reid. look what has happened two weeks, two or three weeks since the election. they're doing no tax reform. they're doing all the global warming stuff. that is completely off message. melissa: typical midterm or something more significant? charlie, go ahead. >> don't let ferguson not count in here. >> good point. >> i grew up in the '70s. i remember the unrest. richard nixon won for a reason. i'll tell you, a lot of americans look at what happened in ferguson. they view that evidence as, pretty straight. and they say, what is going on? is this a country that is out of control, things make no sense.
usually whether it is katrina and republicans or ferguson and the democrats it is party in power that -- >> here is what happens. you grow back to 1994. contract with america. you go back to 2010, when voters shot the people in power, it doesn't last. i mean maybe a year at the most but generally it is shorter than that. and, to steve's point, i don't think this is in love with republicans. if you add up republicans and democrats, it is about 82%. so there are till 18% that say, i'm something else. melissa: it is a five-point swing. it is that middle that counts. if the country is pretty evenly split, if you see middle moving over that is significant. >> that swing would have given mitt romney the election in five or six key states. >> melissa, one quick point on this i'm here in washington. all the state legislators are in town, all newly-elected. there are 400 new, newly-elected republican state legislators. so on state level it is even bigger whitewash than it was in washington.
melissa: midterms may be over but president obama is still fund-raising. he headlined his first event since the election at a ritzy washington hotel last night at around 3thousand a pop. -- $32,000 a pop. where is that money going, steve moore? >> i've never been invited to one of those dinners. >> paying for one of those dinners. >> this is all charlie gasparino's good friends to wall street that are stockpiling money behind hillary. >> my buddies. i love these guys. melissa: president obama is really out raising money for hillary clinton. that is where the money is going? i don't know. >> probably is. this is where the democrats get hurt with average americans. the juxtaposition of you know, hanging out with fat cats and then calling them fat cats, doesn't work. i will tell you this. minutes after al sharpton had a press conference in new york city on ferguson with the families of the michael brown, family of michael brown, he was in dell 'frisco's.
i saw him, the most expensive restaurant in the city. >> he has good taste. >> he has good taste. that is sort of, odd juxtaposition doesn't sit well with people. melissa: comes down to d.c., he sat up in front in first class. >> he can afford that, charlie, because he hasn't paid the irs in four 1/2 million dollars. melissa: the republicans are socking it to democrats with their own unique fund-raising strategy taking a cue from george h.w. bush of daring socks. $35 donation will give a pair to flaunt in front of democrat relatives. it comes with bush's printed signature and republican elephant. you just don't want to lose one in the drier. this is perfect stocking-stuffer on liberal on your list. that is where i send. >> being fashion king that i am -- melissa: yes, really? >> this is thing. crazy socks are in. but everybody loves george h.w. bush. he is such a classy man.
melissa: okay. so you're buying the socks? >> melissa, i still haven't forgiven him for read my lips but look, i think these are a new fashion and i will let tom try them out before i do. >> new fashion or -- melissa: sock fashion. it is been happening like a year. we've done segments on it, bright socks. i think you are wearing flashy socks. we'll check later. thanks guys. forget nine months. this supreme court ruling was seven years in the making. one company under fire for letting a pregnant employee go. it could change the way things are done around your work place. california braces for more rain. some are excited what it will do to the drought. a little too excited perhaps. do you have too many umbrellas. >> it is raining in l.a. the whole city smells like wet ugg boots. i don't know if you heard yet but we need the rain. >> we definitely need rain in california. >> we need the rain. >> we do need the rain. >> so need the rain.
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melissa: from the u.s. to every corner of the globe money is flying around the world today, starting in ukraine, which says, an accident has occurred at one of its nuclear power plants. the country's prime minister says the incident happened last week but he just got around to announcing it today? i guess he was busy. it is the largest nuke plant in europe and ukrainians have turned off the reactor. dozens of towns are now without power. that is scary stuff. over to abu dhabi which opened the world's largest roller coaster restaurant. meals are delivered from the condition to the table through a
network of spirals and loops and twists. diners just order food through a tablet and see dishes flying along a personal track to where they are seated i'm dizzy already. landing in north korea which is trying to win over tourists with a bizarre new travel website despite a ban on visitors. curious travelers are shown pictures of various attractions like rocket launches and water slides and nurseries and country recently banned all tourists on fears that they would bring ebola into the country. it is confusing. they must show us by showing us what is in the country where we're not allowed to go. supreme court case seven years in the making. a former ups employee's case over possible pregnancy discrimination could change things in the workforce forever. fox news's shan mom bream live at the supreme court with all the details. shannon, give us the basic.
>> when peggy young got pregnant in 2006 gave her ups how much weight she could handle. they put her on unpaid leave until she came back after the birth of her child. this case drawn a lot of heat. plenty of protesters out here today. young supporters say that ups to the got it all wrong. it should have accommodated her, given her lighter duty or another assignment while she was pregnant. ups argues under the law and union agreement that was in place at the time it had noble situation to treat young any differently than it did any other employ facing a physical limitation at work base on something that didn't happen at work. here is something interesting about the case. brought together of coalition of groups we normally don't see on same side. national organization of women and two dozen pro-life groups much they agree women should never have to choose between pregnancy and a job. on other side you have businesses, including the smallest businesses, i talked to some owners today, they're really worried about this, how much they will have to spend on accommodation what would amount
to is quote preferential treatment instead of equal treatment for pregnant workers. that is what they're worried about, melissa. melissa: how do folks think this will turn out? >> i got to tell you, it was very heated today. there was a lot coming from one end of the bench where we have justices kagan and ginsberg who were very fired up about this, saying way ups interpreted law in this case would give businesses cart blanche to simply treat pregnant workers differently and that violates the pregnancy discrime act. on other side we have a lot of people questioning how exactly do you come up with the right accommodation that strikes the right balance so you are treating pregnant workers equally as someone else who also limited doing their job and not making any decisions based on pregnancy but based on how much of the job they can actually do? by the way ups is changing its policy effective january 1st. it is regardless of what the court decides going to give lighter duty availability for pregnant workers. melissa: interesting. shannon, thank you so much for that. really interesting case. >> you got it.
a. melissa: a few stories on our radar. the eurozone economy may be edging towards recession. analysts say slowness in the germany and french economies will drag the region down despite improvements in italy and spain. sprint is trying to win over at&t and verizon customers by cutting their phone bill in half. users that switch over this friday, that is the day, this friday, are assured will walk away with 50% reduction and they won't have to cover the termination fee. i think you have to up load your bill. very interesting. 100 missing brains, yes, missing brains, taken from the university of texas have now been found. brains kept in jars of formaldehyde have been going missing but professors now say, they have managed to get all the brains back. the university did not include details on who took them or why. they're just back. the coalition convenience. top leaders from across the globe meeting today to formulate a plan to tackle isis. first it was elon musk.
recall. >> if that issue is the absolute humanity, what caused the defect in california? >> neither the automakers have been able to get to the bottom. >> expanding its recall. they will also work with others. >> a growing concern against artificial intelligence. the legendary physicist "the intelligence of artificial
intelligence could spell the end of the human race. jonathan hoenig is here with us now. he also said it would take off on its own and redesign it self. they would be superseded. i am getting worried about this. it is not a trick. it absolutely is something in reality. always a human mind pulling the strings. melissa: i am not talking about robots. artificial intelligence.
moving ahead with out us. it is like summoning the demon. >> a couple of things here. if you look at the power and common denominator, it is still the human being that is controlling this. here is the thing, though, going forward, you have to accept the fact that this is the 21st century. things like this will be taking place. >> nassau -- no? >> support of the pbx movement. i would disagree on that. melissa: preparing to launch the orion aircraft. this mission will take an unmanned test drive around the
earth. if it wasn't for nassau, we would be there quite a long time earlier than we are going to be there. it will be those visionary individuals that make life on mars possible. melissa: it will be the furthest since the apollo mission. >> why? what are we running away from. i say stay here. >> good point. melissa: hegel is out. calling it quits on so many defense secretaries. mystery donor putting us all to shame. at the end of the day, it is all about charity.
>> who is your favorite receiver? our strategy has to be to operationally run and invest. >> plunging oil prices prompted a huge drop in new wealth permits. down from 7000 told her. a study found that 80% of senior citizens failed questions on social security income investments and life insurance. that is the latest from the fox business network. giving you the power to prosper ♪
get an auto insurance quote and see why 92% of our members plan to stay for life. melissa: isis meeting today in brussels. foreign ministers for more than 60 countries coming up with a cohesive plan to destroy isis. >> hi, melissa. coming from secretary of state kerry. quoting our efforts. already seeing a significant impact. the coalition was assembled in under three months. including a lot of arab countries. take a listen.
>> it is much harder now than when we started. to travel in convoys. to launch conservative attacks. no large unit can move forward aggressively with out worrying about what will come down on it from the skies. the coming weeks, they trying and advise. airstrikes will continue as necessary. >> he did admit that this effort will be a long slog. maybe lasting years. there have been about 1000 coalition airstrikes. and lots of ties with those targets are missed. he does admit that it is a work in progress. we have seen not, two. finally, melissa, terry was
speaking for the obama administration. he said they would prevail as long as is necessary. maybe, probably, into the next administration. melissa: thank you very much. ted cruz said some pretty strong words about the president. take a listen. >> at a time where the threats are this grave, we should not see more turnover at the defense department than one house at a typical burger king. melissa: does he have a point? >> yacht. he does. defense, we talked about this earlier on the show. there is a sense that things are out of control in washington.
he has four defense secretaries, essentially, at that point. >> it says that so many people are saying no, thank you. is it fair? >> it is not fair. it has been the case of the white house. even through the previous administration. it is not the defense secretary that matters. hegel and everyone prior has been participating in this war theory. they think that americans should be making prices. >> turning now to the markets.
the dow hitting a new high. >> we have a record high for the taos. we have seen lots of games. not only in energy. with that being said, we have to take a look at t.j. maxx. look at this. the stock is down 1% right now. they cut other names. why do they like t.j. maxx? because the long-term picture really looks good for this company. back to you. melissa: nicole, thank you very much. liz claman giving us a preview. >> who knows. maybe in that final hour we will be within 100 points.
we are watching the markets every step of the way. we are also watching auto companies. those airbags are in almost every carmaker vehicles. some of them are killing people. we have a fox business first. representative marsha blackburn. she will be joining us. she has been in on those hearings. she is absolutely furious with something that happened where one of the executives was testifying. wait until you hear her response to them. she will be stepping out of the hearing. who wants to hear the bad stuff about your own airlines? spirit airways ceo and a first on fox business. they just came out with a survey
about what do you hate most about us. >> that seems like a lot of fun. i look forward to that one. who needs an ugly christmas sweater when you can have an entire ensemble. the most ideal christmas gift ever. getting more romantic. is that even possible? you can never have too much money or too many out. >> what a fantastic idea this is. [laughter] ♪ ♪
$0.12 lower. $1.99. first time gas prices have been that cheap since 2010. anyone with a piece of . tv customers may be losing access to cbs as soon as tomorrow. the stock is down a little under 1% right now. chairman and cofounder has lost around $120 million. wow. that is not good. making money. this old tsa body scanner on ebay. what a deal.
it used to cost over $100,000 before newer ones came on the market. this is a bargain. tgi friday's, they are rolling out a mistletoe drone which hovers over couples until they kiss. smooching couples have their pictures taken and could even win a gift card. very festive. the salvation army l rennert did a little bit more than a spare change this week. it was not an accident. the mystery donor called the salvation army to make sure that they got his gift. >> i dropped five gold coins. i think the anonymous donor is the most wonderful type of
charity. if you don't have to put your name to it. >> the person that did not feel it. a $1200 coin into your pocket. they need to understand that it was real and worth $1200. >> a dollar in the soda machine to see if it works. [laughter] >> can you imagine somebody not realizing? >> one nfl player proving it is better to give than to receive even though he is a wide receiver.
the total bill came in at over $16,000. that is a really good story. >> please do not turn out to be adrian peterson or ray rice. this is such an incredible gesture. melissa: it may take a couple glasses of a dog, but i think they can pull it off. $110 a piece there. would you wear that? >> that is what you need. >> that is fabulous. thank you, guys. dozens of evacuations across the united states.
we will take you there live. more money, lots of rain coming up. ♪ she's still the one for you. and cialis for daily use helps you be ready anytime the moment is right. cialis is also the only daily ed tablet approved to treat symptoms of bph, like needing to go frequently. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long term injury, get medical help right away for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision, or any allergic reactions like rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away.
melissa: sony executives acknowledging in a memo to employees that internal documents leaked on the internet are, in fact, real. five sony movies have leaked online along with salaries, birth dates, and social security numbers of employees. sony is also warning that it's not sure of just how much information the attackers might release. wow. heavy rains are storming across draught stricken southern california. the joy is short-lived. the new concern is mudslides. fox news james is live with it. >> melissa, as you said, we have the usual downed power lines and trees. coast highway, that's still a problem. the mudslides, rock slides, that's the major concerns especially in the foothill communities
both in ventura county. they're using front loaders to keep the debris basins clear. they're using sandbags to keep the mud and water away from homes. >> get the family out. the dog out. grab the computer. the pictures. just like in the fire. >> if it rains too much too fast, then engineers have told us that we'll probably get anywhere from 70 to 100 dump truckloads of dirt in our front door. >> now, i'm going to show you what happens when you're not prepared. a major fire went through these mountains about a year ago. now, at the top of this drain, if you will, is a storm drain, where all the water is supposed to go down. that got quickly clogged because all the typo soil is so unstable. when that got clogged, you had a wall of mud come over the top. look what it did to this guy's house. we're talking mud about
4 feet high, went into his living room, kitchen, also literally wiped out the car in the garage. the people were luckily not at home. they couldn't find the dog for two days. that's what happens when you have hillsides hit by fire become really, really unstable. now, that happened on july -- excuse me -- on halloween. now, they're trying to recover. what they did now. you can see over here. they're trying to keep this clear so the same thing doesn't happen. i want to talk about our draught. three-year draught. driedryest year on record. 150 percent of rainfall in los angeles. 2 inches. we need another 20 inches by july. that's where we're at. and, of course, the major things is snow up in the sierra mountains and sacramento, that's where california gets its drinking water. talk to me in april, we'll see if we're out of this draught.
melissa: i grew up in southern california in the hills. lots of people had retaining walls. that's a problem year after year. that's all we have. liz claman is coming up next. liz: thank you very much, melissa. we're watching the markets, and we're watching sony. in massive damage control right now. things have gone very badly for the interview. yes, that movie that we're talking about regarding sony's movie the assassination plot against north korea's dictator. we're reporting that sony is about to finger north korea as the responsible party for the attack that wreaked havoc on its computer systems. we'll have much more on the attacks and who is harboring the world's most sophisticated attackers and which companies should be worried about being hacked next. do you have anything good to say about your experience on airlines. one airline deliberately asked for hate mail. why?