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tv   After the Bell  FOX Business  January 26, 2015 4:00pm-5:01pm EST

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in. nicole's a diehard, she'll get there. talk a look at the nasdaq, there's our own jamie colby, she hosts the brand new series starting tonight, "strange inheritance. question ♪ ♪ david: we have michael ball from weatherstone capital management,
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he has a pig contrarian -- big contrarian call, bob iaccino standing by in the pits of the cme. let's talk about treasury yields first. they were up a tick today but well below that 2% level for the ten year. some people see this as proof that a big contraction is coming, but you don't see it that way. why not? >> i don't. all i'm saying when i refer to treasury yields is they just don't show us what they used to show us. yields used to e show us the curve between twos and tens had a high probability for predicting recessions, the ten-year note could tell you what might be happening in terms of safety. but globally, not just in the u.s., i would argue that the ecb, japan are affecting u.s. rates because of that spread. they're telling us where the central banks want yield, not where the market is saying the
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res of the world is looking. so the central banks are controlling yield, they're doing a very good job of it and getting transparency out of those yields. liz: let's bring in michael ball, because the name of his company is perth, weatherstone. [laughter] we know the central bankers are propping up these markets with all their easing. nonetheless, you're only moderately bullish here when you know what the tape -- well, nobody really knows what the tape is going to do, but why not dive in in a more firm manner? >> well, when we look out further, when we look at the valuation levels, when we look at the economic backdrop globally with the imf downgrading global growth forecasts significantly last week, we think longer term there are some significant problems, and we just have very little room for error at these types of
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valuations. david: mike mcqueen, energy stocks are the best performing sector today. some folks say it's time to go in and buy. they've gone down about as far as they're going to go, other people saying, wait a minute, there are literally people that are waiting for bankruptcy saying you've got to see that kind of blood on the street before you go in. what do you saysome. >> you know, i don't think this is the time to bottom fish in the energy sector the. i think it's the time to take advantage of the low energy prices. that's the big tailwind behind the consumer. i'd focus instead on the consumer discretionary, personal technology, and i would let oil and energy set for a bit. david: when would you go into oil? >> no, you know, i think it's going to take a little time. i'm not a it can call analyst, but i think you've got weeks, if not a few months, to find an entry point. why rush into any damaged sector like that? it's never made sense in the past. make your shopping list, take your time, be prudent, and it'll be a play for months to come. david: good point.
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liz: michael ball, do you agree with that? i know you like, for example, the vanguard health care etf. we haven't talked about health care in the past couple of days, but why do you feel this is a sector that's poised to run? >> um, when we look at health care and when we go back to our thesis that we have a slowing economic environment globally, investors are probably going to be willing to pay more of a premium for some of the defensive sectors. so we have health care currently has lower valuations than both utilities and the consumer staples -- liz: could i just jump in? this etf is president bush at its 52-week -- is pretty much at its 52-week highs. shouldn't you take profits off the table? >> still we would continue to go with it. it's not overly owned, and the cash flows remain quite strong, and the earnings growth is projected to be quite strong for 2015. even though it is more expensive in terms of how close it is to
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its 52-week high, we're still favorable on it. david: bob iaccino, i'm looking out the window on sixth avenue in new new york, it reminds me n awful weekend in chicago. do you think this storm is going to have any effect on the economy? >> i tell you, i called a buddy of mine that's from chicago that's been in new york for about 12 year, and we got a chuckle out of it, although i know it's going to be a big storm. i'm not trying to make that much fun of it. look, i agree with a couple of points. first of all, i like big energy. i've been looking at big energy this week -- rather, last week i started looking at big energy. not necessarily the suppliers, but your conocophillips and your exxon, start nibbling. you're right, it's not the point to rush in you're going to start to do it for a trade 3-6 months out, you want to nibble. i think crude oil is finding a bottom, but it's definitely starting -- david: hey, i love your energy picks, bob, but i wanted to know
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whether you thought the storm is going to affect the economy in any way. >> no, i don't. i don't. i don't think it'll affect at all. a couple of day blip, but that'll be it. liz: whoa. mike mcqueen, i don't know if i i agree with that because we have, look, broadway alone shuttered at least tonight and a lot of shows aren't starting on mondays, but nonetheless, that's down. you've got all kinds of things that are related to the economy that are completely down. i just wonder if what we saw last year, same thing the polar vortex really ended up hurting the economy. >> well, we did see a negative print on gdp for q1 last year as a result mostly of weather, but then we saw the snapback effect. i think it's too early to say that it's going to be a bad situation. i think you're going to come out of it quickly, and i think you're going to -- liz: oh, i hope he's right, david. i like his optimism. [laughter] >> i agree. i think broadway will go on. david: broadway always does go on. okay. michael ball, i've got to choose one of your picks and hone down on it. high yield bonds, what we call
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junk bonds. why would you pick this that area at all? -- in that area at all? >> as we look across the income spectrum, high yield corporates are an area that is really quite out of favor. we think that there's some pretty good potential for some upside here as we look at oil prices beginning the settle down -- david: by the way, we're looking at the jnk, it's sort of a collection. that's how you'd make the bet, right? >> yes. we do it across typically etfs, and so you've had yield spreads on high yield corporates widen up to the highest level in just about two years versus investment grade corporates and treasuries. and so as we have yields continuing to be compressed across the globe, as things settle down, we believe investors are going to find getting 5.75 to better than 6% yields on some of these high yield corporates to be pretty attractive so long as the u.s. does not go into recession, and we just don't see that occurring here in the next couple of
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quarters. liz: look behind michael, david, he's got sunshine. david: we're in the wrong place. >> 70 degrees in denver in january. it's not conducive to getting the skiers out here. liz: bob, as we finish up, give us your real thought on, listen, we're just about a week away from the jobs report for this month. what do you think really happens, and will that drive some of the trading? >> i think it will. i think you're looking at stronger jobs report continuing through. it's part of the reason i'm bullish u.s. equities, and i'm bullish -- i'm sorry, bullish globalling by the cities -- equities. and one more note on the weather, 70 degrees in colorado, 70 degrees in dallas, that's not quite the polar vortex. snow in new york is not scary, snow in california, that was scary last year. david: all right. we're going to go to a real meteorologist in just a second. bob iaccino, we appreciate it. michael ball, mike mcqueen, thank you, gentlemen. good stuff. >> thank you.
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liz: millions and millions of people in the northeast are bracing for the potential record-setting winter storm that's threatening to dump up to three feet of snow across the region. connecticut, massachusetts and rhode island have all announced travel bans, new york city too. thousands of flights have already been canceled. david: fox news' senior meteorologist, janice dean, is in the weather center tracking the storm. janice, 2006 was the biggest storm we have had in this century. are we going to eclipse that record? >> i don't think so here in new york, but they could in boston. that is almost -- i mean or they're going to get close to three feet of snow with the latest predictions which would put them in the top two at the very least in the boston area. for new york city, 12-18 probably and then eastern long island areas like cape cod and the islands up towards new england, those will be higher snowfall totals. this storm hasn't even gotten its act together. it needs to go off the coast and develop and strengthen overnight tonight, but we're getting snow
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already in new york, reports of snow and a mixture of rain for philadelphia and boston, hartford as well getting some snow. so snow in boston, light to moderate snow in new york, and that's going to be continuous through the evening and into tomorrow. already seeing wind gusts of 20-30 miles per hour. we have ground stops, of course, at a lot of the airports already and, again, i can't stress this enough, this storm hasn't even gotten its act together. blizzard warnings for millions of people from the coastal lawyer of new jersey up towards long island, new york city, new haven, boston up towards maine. blizzard warnings in effect throughout the evening into tomorrow, and that means conditions are going to deteriorate with wind gusts 50-80 miles per hour. that is significant, that is why this is a dangerous storm. it's not just your run of the mill winter storm. you have to have a criteria for a blizzard, so visibility reduced to a quarter of a mile or less with considerable falling or blowing snow, we're going to have that, and sustain ised winds, frequent gusts 35
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miles or greater. so that meets the criteria. it's going to be impossible to travel overnight tonight and into tomorrow. so you need to be hunkered down right now if you live in any of these big cities. d.c., this is not the event for you, philadelphia, the snowfall totals have been cut back, but boston, new york, rhode island, connecticut, up towards bangor, maine, that's where we're going to see the epic snow totals and hurricane force winds for a duration of time. that's why i can't stress this enough. of course, we are all concerned about the snow totals, david and liz, but really it's the blizzard conditions that make this storm so dangerous. back to you. david: all right. by the way, 26, 26.9 inches -- >> yep. david: -- is what it was in 2006. that was the greatest snowfall since 1869. so janice says we're not going to eclipse that, but we may get very close to it. liz: we just got microsoft earnings. let's get right to cheryl casone. i see the stock is dropping just
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slightly. >> it is. because of some of the headlines that are crossing within the report that we're looking. let me give you the headline numbers. revenue coming in the at 26.5 billion, the estimate 26.3, and that was actually up. a coup of things going on, oem pro revenue, the operating environment for microsoft, that was down 13%. xbox console, the sales numbers aren't as strong as they were in the last quarter, for the second quarter of last year, so a year ago, 6.6 million units there, 7.4 million last year, so that's one of the issues that seems to be making traders just a little bit nervous right now. also we're looking for a few things with regards to microsoft to surface pro 3 sales, that could be a big number. you're seeing the stock turn to the downside right now just a little bit, but once those surface numbers come out, and they're not out yet -- still just crossing right now -- that could change the game. but earnings per share beating
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the revenue, a slight beat, but the devil this is in the -- devil is in the details. liz: cheryl, i'm seeing the q2 surface revenue 1.1 billion versus 893 million last year. >> that's good. thank you, liz, very much. david: but remember, the revenues are, the revenues are up, but the profit is down. the more that microsoft gets into hardware, the less it gets into software, the less profit it makes, and that is a problem for the company. coming up, we're going the dive into the numbers and tell you if they say it is time the buy or sell. we have griffin securities managing director, he's on microsoft, he'll be next. liz: and peeking of tech -- speaking of tech earnings, apple set to report tomorrow after the bell with many analysts expecting a record quarter because it was their holiday quarter. will they deliver, and how do they get away from just being a hardware company? should you get in now? anticipation of them really morphing? david: and it is monday in new york, times square is socked in. monday's not the night for
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theater, so they're not going to lose revenue tonight. if this thing continues as it's going now, which it's expected to throughout tonight and tomorrow, broadway could be dark tomorrow night. we'll give you more detail on the storm of the century coming right up. ♪ ♪ hard it can breathe with copd? it can feel like this. . .
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liberty mutual insurance. david: microsoft is down after-hours after reporting earnings. do the numbers say buy or sell? liz: we have jay from the giffin securities group. tell us right off the bat what you think of these numbers? >> we raised our estimates for revenue and earnings for the quarter, liz. they beat on both. revenues came this 300 billion better than we thought. earnings better than our estimate. three of the five business segments importanted better. two were in line or little bit less. three of the five beat. a couple of individual segments i think are noteworthy did well, particularly the new cloud services business, which we had expected to would be a double then. more than doubled. that was good upside. they shipped more xbox consoles
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than anticipated. importantly for the corporate and bismarckket their server business, software and services was up 9% versus 6% estimate. that is good sign in terms of non-consumer business. david: jay, all of that is good however the stock is dropping after-hours. it ended the day at 47.01. it is now 45.96. after-hours, investors are not liking it. profits are good but compared to last year they are not as good. is that because microsoft is getting more into as hardware which you don't get as much profits for revenue? >> that's a good point because in dollar term the gross profit, which is revenue mine thus cost, of course was exactly in line with our number. the percentage of revenue was less to your point of effective hardware. the phone hardware business, for instance, the old nokia business they bought, that was stronger than we expected. that of course is a drag on the margin. nevertheless i think the fact that they diversified their
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business in this way is very valuable for the long-term. the stock is probably off a bit on the windows number. but that will turn around later this year with the windows 10 release. liz: dare i bring up the lumia phone. talk about 10.5 million sold. apple is possibly to announce tomorrow they sold up to 70 million iphones but is this a good start? i mean they paid a lot for nokia. >> that's true. when we get all the details as they come across we'll see what the exact margin structure of that business was. liz: i guess the question is, are they going to stick with that phone business? >> for now that's the indication. clearly what they need to do is drive more volume and acceptance of win phone. they except lower margin in the future if they use it as a vehicle for driving applications and services. that is really the play. david: they decided to give away a free upgrade to windows 10. some people say they should have sold the stuff while they could.
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what do you say? >> windows 10 isn't out yet. they had an update last week in terms of the demonstration. my own view it was a very strong demonstration. david: but should they give it as a free upgrade or should they sell it? >> they will continue to sell it to the computer manufacturers. that will be a source of revenue. for existing users of older version you get a free upgrade. they will up sell you on other kind of services once you moved to the new version. liz: jay, great to have you. appreciate it. microsoft is a huge company. everybody needs this kind of analysis. david: one thing you should commend them for overall ending notion that pcs were dying. remember how pcs were supposedly dying couple years ago? thanks in large part to microsoft they're doing much better. >> on the heels of microsoft earnings report tech giant apple set to report after the bell tomorrow. we'll be right there for you. the stock is up more than 45% over the past year but is it still a buy, or perhaps a sell or a hold? straight ahead of the numbers
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our panel weighsany, the high-end, we're talking high-end, look at this, rolls-royce, the luxury car market making a comeback. rolls-royce posting another record-setting year. we'll talk to the north american ceo. would you like to drive a rolls royce. he will tell you how you can. liz: wonder how you do in this blizzard? will google disrupt the mobile industry. a new offer could bring you a consumer way better prices and more flexibility which is what we all crave, right? more on that next. david: look outside. ♪ startup-ny.
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liz: on the heels of microsoft's. >> just a moment ago apple, we turn to that. it is set to report numbers tomorrow, for the all-important holiday quarter. is this stock a buy, a sell or a hold ahead of the earnings? you've got tomorrow, right, to invest. we bring in our panel with some
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ideas. mark sebastian, options pit, and our own cheryl casone. i want to start with mark at the moment. as you look toward apple this is a company that people counted out, great investment last spring. it's up 50% since then. more to go or do you say, not so much right now? >> well, i certainly wouldn't buy it into earnings. right now the market is looking for a $7 move but as i look at it, you know, it looks kind of, like it is starting to get fully priced. it stopped rally of the made a big rally to 120 and since backed off. this is one i worry about the kid at christmas effect. this has a fan base among advisors and different writers that, you know i worry that even if the quarter is really good it could sell off because like i said so many people love the stock. liz: jason, mark makes a good
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point. this is great christmas buying iphones for christmas. do you want to wait until you see the apple pay and iwatch really go. >> i think now is literally as good as time as ever first of all. second regarding do you want to buy it before earnings? even if you buy it he have before earnings and goes down, one, two, 3%, to me that is not a big deal. that is an opportunity to get in at lower prices. from a philosophical standpoint if you will the notion that apple is fully priced in, or earnings doesn't even make sense because there is so much coming down the pipe. when you have a company as innovative as apple, almost impossible to say the growth is priced in. liz: cheryl, can it survive as hardware company? although people at apple would kill me for saying that. where is apple tv. >> you're exactly right, liz. there are reports with pressure from the watch. that is the next thing they have
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to deliver on. weight of the watch and mechanics in the watch. there are problems reported with that watch. they have to deliver that. i will say the expectations i will split down the middle of numbers. expectations for 67 billion in change revenue, 70% jump over last year, i think they do it because of iphone revenues in the fourth quarter, last quarter. that will be number to watch. i think they hit it. i think stock does okay tomorrow. liz: i face time from my kids in a bus at the swiss alps. i was negative on the iphone but it really works. speaking of phones, google announced a new wireless service that looks to end your reliance on a single carrier where you have to sign long term deals. will google disrupt the wireless industry? what do you think, jason? >> i think they absolutely can and if there's a company on the face of the earth that can do it is probably of the likes of google, however, it is kind of like the idea i've been reading about mining precious metals and minerals on asteroids in space. in theory it's a brilliant idea
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however how easy is it to execute? i think google has the right idea but can they get all carriers to play together? i'm not so sure. >> carriers don't have a choice, liz, i'm sorry. we are seeing this happening with competitive nature. t-mobile, you interviewed ceo john legere several times. look what he is doing. plans will go away no matter what. if they can make it work great but it will end no matter what. liz: although, mark, we're waiting for cable to give cafeteria-style pricing if i want this channel or that channel. i don't want to pay for everything. i think cheryl is at money. if anyone can do it, google can. >> i agree. back doorway for t-mobile and sprint to get back together. i think this is excellent for sprint in particular because they're really looking as the odd man out in terms of where things going. t-mobile too. i think this is really bad if you're at&t and verizon who basically had a chokehold on the
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phone business. >> don't want to hear, google is going into your business. that is never a good thing. stand by, up next, with our panel, are there companies whose bottom line could feel a chill or a spark as the result of the wild weather? those that have profits might heat up, david. you never know which side of the coin it is. david: we'll be watching for that, as the rich gets richer, iconic rolls-royce having its best year every but will the global expansion continue? i will talk with the rolls-royce north american president. with blizzard of '15 on top of us, thousands of flights will be canceled over the northeast. which airports will open and which ones are hit the hardest? we'll have latest for you coming up. ♪
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>> i'm looking at the temperature gauge outside. 24 degrees right now. look on your screen. a historic blizzard already pummeling the northeast. we haven't seen the full force of it. that comes up later. who will be winners and losers coming out of the storm? let's bring our panel. i'm one of them, gang. i have to stay in hotel. i'm a little anxious. mark sebastian, look at ideas pertaining winning and losing with the storm. >> i want to start with generac. they make portable power
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systems. they always do really welcoming out of big major storms especially if there is a lot of power. what you did last year with the miserable winner with all that snow, generac hit all-time highs. i think that is one that could do really well. couple other names. home depot obviously and sears holding. one thing people still buy from sears are snowblowers and lawn mowers. if i'm going to sears to pick up a new snow blower i might buy something else while i'm there. that would be three names. liz: generac is ticker symbol gnrc. we've had the ceo an many times. these are not cheap devices but boy, people appreciate them, cheryl when they have got them. what are your picks? >> stole two of mine. thanks a lot, buddy. generac and home depot are actually on my list. they're not public. seamlesses. look at food delivery companies like seamless. they i think will have a big number. not a publicly-traded company but very popular across the
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country especially in the northeast. i look to the point of liz, the hotel chains. they will get some extra business out of this, especially very high energy packed areas. a lot people in new york. liz: how about this one, mark. i went to mark jason. netflix up 2% today. people getting all cozy and watching shows. >> yeah. i mean, that is occurred to me after the fact to be honest. liz: ah-ha. >> i see people turning on netflix because nothing else to do which is viable reason. the pick i want to focused on is plow. this is kind of a lay up. plow, doesn't get any easier. douglas dynamics. manufacturers and distributes snow and ice control equipment to u.s. and canada. up about 3% today. liz: 2 and three quarters percent for plow. 21 bucks. it closed at 20.62. euro, we need to get to that. you remember last week it hit
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11-year low and today making a come back. that didn't take long, blame credit or greece perhaps for that? will the e.u. be lenient with greece. will they push it out of the european union or keep it there? what do you think, cheryl? >> one of the interesting things to see what the currency does versus the dollar because we've seen the dollar rise and rice. that was a surprise to me as well. new party in power in greece, they are not a bailout party. they will go the opposite way and european union is responding to. that griebs saying something and greeks doing something is always a very different story. i think longer term i bet the euro goes lower again based on the overall picture what european union is doing in terms of stimulus. liz: we spoke with howard lutnick in davos last week, you have to love the dollar. there is too much upheaval in europe. >> absolutely. the trade idea is sell rallies on euro versus the u.s. dollar.
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that trade has been insanely successful over the past four to six months and i really think even with the big move lower of the euro, i still think that big, huge, elephant in the room bull's-eye is parity with the u.s. dollar. i think that's where we're headed. liz: we may see that, mark. and either way though, do you just stay u.s.? >> yeah, i mean the dollar is going to be stronger over the next year or some i think you're going to see the dollar rally until the 10-year note gets well below its all-time low. i think we could see 10-year treasury in 1 to 1.25% yield. think where mortgage rates go in that scenario. that is how low i think the 10-year has to go before we seat euro finally start to catch some strength. and you know, we could see a, that speed up because i think the fed will come out and say they're not going to raise rates. that could be another way the euro stops selling off to the
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dollar. >> liz, real quick, i will say this i bet you that a lot of those big investors coming to new york will go to europe. they will start buying up property in europe. liz: can you imagine? finally. it is reversed. good to see all of you. mark sebastian, you're good in chicago. jay, i hate you you're in california and chairman. david: mark cheryl's word on real estate. she knows it. potentially setting record winter storm is here right snack on top of times square, it will be this way all night. and probably all day tomorrow. how will it affect your commute? a lot of people are using snowshoes to get to work tomorrow. liz: despite the brutal winter storm, rolls-royce north america, sunshining there, has braced conditions to join us in studio next. we're speaking with the north american -- david: look at that car. liz: a record-breaking year for -- david: wait until you hear how
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having a perfectly nice day, when out of nowhere a pick-up truck slams into your brand new car. one second it wasn't there and the next second... boom! you've had your first accident. now you have to make your first claim. so you talk to your insurance company and...
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boom! you're blindsided for a second time. they won't give you enough money to replace your brand new car. don't those people know you're already shaken up? liberty mutual's new car replacement will pay for the entire value of your car plus depreciation. call and for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. switch to liberty mutual insurance and you could save up to $423 dollars. call liberty mutual for a free quote today at see car insurance in a whole new light. liberty mutual insurance. david: as the world's rich get richer the car that has come to define richness, the rolls-royce, is having its best year ever. that doesn't mean it sold a lot of cars but with average sales
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price of over $250,000, you don't have to sell many to have a good year. so can rolls-royce count on continued expansion to expand production? joining me eric shepard, rolls-royce north american president. congratulations but when people hear overall number of cars they think you did poorly. 4 063 cars sold in 2014. that was a record. >> it was, yes. it's a blip in the overall industry radar but for us, yeah it is fantastic. david: when the average price is somewhere between 250 and 300,000 you can understand you don't have to sell a lot to have a lot of revenue from that. >> we don't. what we really pride ourselves we taken into bespoke or customized area. every car that gets sold is more and more discuss toppized for the customer. david: you spend so much on design, on manufacturing, on paying your employees because they have to do a good job. takes six months for the average car to be built, how do you squeeze any profit at all out of
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that? >> beauty of it is a rare piece of art and people are willing to pay for the rarity. they don't want to see a rolls-royce on every street corner. we design and build that way. david: do you ever come out with numbers on the profit that you make from a roles? >> we don't. that is part of the bmw group. we do not break that out. david: when bmw took over rolls in the late '90s, correct? 1998. people thought as good as bww is, the rolls will lose some quality. it clearly hasn't. owner have increased. they're more satisfied. how did you maintain quality? did you leave everything the way it was? >> no, we started from a clean sheet of paper. in '98, they gave us five years to develop the car, engineer it and build factory where it will be produced as well. everything is state of the art. it is trawlly unlike any manufacturing plan in the world. david: i wonder if the opposite happen, did in fact quality
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procedures of rolls have effect on bmw? >> the history and legacy of the brand rubbed off bmw and pride came into that. david: do you expand? the fact that 4063 cars, sold, that is record for rolls, does that mean you try to find a way to expand the quantity of cars thaw produce? >> the beauty of it we're not a volume company. we let our customers and our dealers drive how much we actually bid and sell. so whether it is 4,000 or 4500, whatever that number is, it is a customer-driven number. we don't have to focus on that. we'll remain small. david: we saw numbers going up. does that mean you will have to build another factory, for example? >> no but we do have expansion capabilities we need. we have a new convertible coming out next year in the same plant. david: is that the drop head coup. >> there is new drop head coming. we haven't announced name or power plant behind it. you have to wait longer to see that one. david: an suv some people say that would abbas tarreddization
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of the rolls royce name to come out with a rolls royce suv but there are some people talking about it. are you going to have one? >> we have had a lot of questions, and a lot of requests. we're neither a sport company or utility company but segment does intrigue us. we're ready in certain stages. david: have you hired designers to come up with certain models? >> we had multiple designs already made. is it matter is it right thing, or is it truly a rolls-royce. in it is we won't build it. david: finally liz claman, meant to drive a rolls royce, you have expanded number of rolls sold particularly to women. has that cause ad change of design at all? >> no design but size was with ghost introduced in 2009 and 2010. not from design. they still, in fact, probably gets better because women are much more detailed in what they want out of luxury and really forces us to sharpen our pencil. david: ask you, phantom, average
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phantom, how many miles a gallon you get. >> good question, depend how you drive but high teens. david: high teens is not too bad. congratulations. a magnificent car. we like to think some day we'll have one. eric shepard, rolls royce north american motorcars. >> great to be here. david: liz, will you get one? liz: the queen's nickname and mine too. >> duly noted. liz: just a suggestion. snow beginning to fall very heavily in the northeast as the region braces for potential record-setting winter storm. that is a live picture of times square. blizzard aarnings issued for new york city, boston and parts of seven other states. parts of massachusetts, rhode island, new york, new jersey and connecticut and rhodeiisland. have declared states of emergency. the storm is expected to dump as much as three feet of snow along a 250-mile stretch from northern new jersey to southern maine,
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affecting as many as 50 million people. more than three thousand flights have within canceled today. 4,000 flights have been canceled tomorrow. airlines are waving fees for travelers rebooking flights affected by the storm. let's get to connecticut. it announced a statewide travel ban beginning tonight. new york and massachusetts said train lines are stopped. they're warning everyone for possible delays tonight and tomorrow. david, we're not tackling power outages. not a good time to move. hunker down where you are and enjoy the day. some of us love inheriting money or jewelry but how about inheriting an alligator? coming up we'll tell you about that. liz: a ceo whose phones have been ringing off the hook due to this winter storm. gerri? >> i'm gerri willis. coming up on top of the hour, we're following the monster storm hitting the northeast. we'll have latest on preparations and major roadways and airlines.
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that is one of the big stories we're covering tonight on "the willis report" in a few minutes. startup-ny. it's working for new york state. already 55 companies are investing over $98 million dollars, and creating over 2100 jobs. from long island to all across upstate new york, more businesses are coming to new york. they are paying no property taxes, no corporate taxes, no sales taxes. and with over 300 locations, and 3.7 million square feet available, there's a place that's right for your business. see if startup-ny can work for you.
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>> do you know how many cars grandpa has? >> i didn't. quite a strange thing to inherit. >> nobody has an inheritance like the one we've been bequeathed. >> no amusement park in the world owned by a family as long as this one. >> in the world. >> my grandfather left largest
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privately owned collection of insects in the world. >> here is small portion of the family ranch. along with that came a few pretty exciting surprises. >> it is big. it is the world's tallest thermometer. >> we want to keep it in the family at all costs. >> no way. david: that was a preview what you will see on fox business's new show, "strange inheritance." it premiers tonight with snowstorm, perfect thing to watch. 9:00 p.m. eastern time. gerri: listen to this. the show chronicles stories of americans who inherited really we are things. things like alligator farms, movie theaters and shell lows. with us,-cellos. jamie colby, host of "strange inheritance"? >> tallest thermometer, really? it has value. the at entrance of death valley in the mojave desert. real estate developer thought it was important for baker california. it is still there on the map. the family is committed to preserve the legacy of their
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loved ones as many of the 26 families are, they want you to know why their loved one collected something and what it means to inherited. is it financial value or ancestral value. we delve into both. david: you innings inned california. you also talk, we go coast to coast. you talk about an alligator farm in florida. you were telling me you actually wrestled an alligator. >> listen, he needed to be taught a lesson. david: he has been turned into a purse i imagine? >> i can't go there. people don't like that so much. but his name was gucci. i kid you not. this is no joke. i saw everything. i learned to drive a model t. i drove a tractor. i can operate a forklift out there, if anyone needs help, i have weekends off now. i learned so much about coins and comic books. i have so much passion for these families, for what they have gone through, for what they have. just helping them figure it out. david: is that a -- >> 8-year-old inherit ad vineyard with amazing pino. he can't drink it but he learned how to make it.
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in oregon. gerri: this is business story as well where people have to decide, what will i do with grandpa's gigantic car collection. some were beautiful. we saw on a can at this levered storage area. some look ad little junkie. are theories link keep it or sell it. >> looked like a salvage yard. gerri: a little bit. >> a kid not allowed to go see grandpa in the salvage yard finds out his dad and grandfather are ill and figure out what is there. turns out there is lot of value in salvage. i didn't know that. our folks will learn a lot. today is snowy day in the northeast. people will find something to relate to. they are real families. they weren't cast from central casting. with real situations we might all face. we might leave something or get something. tonight's episode is about the greatest collection of baseball cards you can imagine. two actors, maybe you knew their shows, maybe you didn't. they inherited enough somebody from somebody they never heard of and they didn't know.
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wait until you see what they do with the money. i will not give it all away. you got me on here, you two, to give it all away. david: no. we'll watch jamie colby tonight at 9:00 p.m. "strange inheritance" is the name. jamie was talking about the weather. we have an update to tell you about. new hampshire just declared a state of emergency. all government offices in new hampshire will be closed tomorrow. if new hampshire is colleges all the offices, it happens in washington if they have an inch of snow. in new hampshire take as heck of a snowstorm to close new hampshire. this one is doing it. new hampshire declaring a state of emergency. think i that include most of the states from pennsylvania up north. gerri: time for the number one thing to watch tomorrow, david. david: let's bring back mark sebastian, option founder. give it to us. >> yeah. i got to watch that housing data. i keep expecting housing to really lead us out of the market now that oil will not be a big industry leader. if, one of these times we'll get really positive housing data.
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that could be kind of beginning of the next bull rally. in addition with all the weather, a lot of traders will be missing. any data really good or really bad to move the market harder than expected. when people are gone, markets are more volatile. >> because the volume is thinner. are you expecting really thin volume tomorrow? 10 second. >> i think it will be relatively thin like christmas eve thing. david: okay. actually we got more than 10 seconds, let me ask you about the fed because of course they are having a decision this week is it totally meaningless? they have telegraphed from the last meeting they will not change rates at all this time. >> yeah, i mean i do think it is totally meaningless. i think one of these times, they will come out and say, guess what, we're not raising rates until september. then it will turn into december and then maybe talking 2016. you look at the dynamic what is is happening with interest rates
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right now, with how wages are growing, with inflation, i don't understand how they will raise rates. david: mash, thank you very much. liz: as we take a final picture of sometimes square, stay tuned. we'll have latest on the storm. gerri: hello, everybody, i'm gerri willis and this is the "willis report," the show where consumers are our business. a monster snowstorm hitting the northeast. >> i'm declaring a state of emergency effective immediately. gerri: some parts could get up to three feet of snow. major travel disruptions have already begun. millions of people affected. >> if you don't have a reason to travel you should not be on the roads. gerri: also, preparation or panic? grocery stores shelves wiped clean as shoppers stock up before the storm. our own kennedy will be along to answer the question, are some people going too far? >> i got the groceries and my food for next 72 hours. gerri: cell phone price war got more intense


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