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tv   After the Bell  FOX Business  February 11, 2015 4:00pm-5:01pm EST

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hard to guess where it is going to go. [closing bell ringing] citigroup yesterday was talking about $20 oil. liz: on a day when you had real shining stars such as apple, we're looking at stocks finishing mostly down. as we look at the numbers, you can see, these numbers are settling. we'll have a rock and roll action in the after-market session because of earnings. dow jones industrials losing about 10 points. the s&p down just a fraction. you can call that flat. russell lower by 1 1/2 points. david, hard to find direction here. david: we may find direction with earnings. we have tesla, we have whole foods, we have cisco coming up. its r is a very busy hour. liz: "after the bell" starts right now. let's get to it. david: breaking down the action of today and to come, tim courtney wealth advisors. he will tell us why he see as 10% rally ahead in the s&p. michael cuggino from permanent
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portfolio fund says a rate hike will not have a huge impact on the economy or the markets. todd horowitz is in the pits of the cme. todd, i want to start with oil. came down again today, as i called it a roller-coaster ride. i'm wondering if citi's $20 target has any effect on that? is that bringing the price down. >> hi, david, hi liz. i think citigroup hopes it has an effect. i think the call they made is totally irresponsible call that has nothing to do -- oil is coming down. we'll in a range. david: you have to got to explain that, todd. why is citi's $20 call irresponsible? >> i think that there is nowhere near $20 in the cards when you look at an overall chart. we haven't been that low in 10 years. how will they make a call we'll break down below january low of 2009 at 33.20? we haven't been down at $20 forever. there is lot of headway to get
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down 20. i think citigroup is shorting oil and stuck, trying to getaway out. they're trying to force the price down of oil. that's what i think. liz: we've seen all kinds of financials do things like that, goldman sachs in the past. everybody makes their calls. hopefully there is a chinese wall in between the two of them. but let's get right to tim courtney. you feel the volatility you've seen is pretty much something to expect but then let's pave the way for investors. how should they move forward and make money at the same time? >> the last several years volatility of the markets has been pretty light. what we've seen since december and january has been, more normal volatility. we've had back and fourths of 5% up, 5% down. that's more normal. i think that is reflecting a lot of earnings uncertainty. we've had relatively good earnings over past couple years. now with energy prices falling and energy companies coming in with lower earnings that's throwing in some doubt as far as
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earnings will be for '15. over all the economy is strong. the labor market appears to be healing and getting better. very little chance of recession. so equity markets we think are fairly valued should still offer a good value for the investor and should have a good average year of around 10%. david: the big question whether the economy is strong enough and the market is resill with respect enough to withstand a rate hike. we heard a lost comments this week and previous weeks when will happen when a rate hike comes. michael you're not dreading a rate hike. you think we will absorb it well. why? >> let me qualify that. i'm not dreading a small move. if they move aggressively or too fast or market interest rates get crazy i would dread that volume it. if the -- volatility. if fed moves up to oners in the federal funds rate i do not believe that to be a material problem for the markets. now psychologically there may be some volatility as the market
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adjust to that but definitely in the early days of a long cycle of easy money to neutral to probably tightening money at steake some point. that is inevitable. the economy is stronger. likely can handle it at this point in time. liz: i don't know if you guys saw david's interview with richard fisher a couple days ago and he is on the inside of the dallas fed. he said i would expect rates will be raised sometime this year. warren buffett disagreed on our air this week. the guy on the inside is probably the guy who might have the inside track. todd, hold on a second. we have numbers from whole foods. cheryl casone has them. >> we're getting whole foods in. shares penny, coming in at 46 cents earnings per share. in line with regards to revenue and earnings per share. here is the thing. it is the guidance. i'm curious what the stock is going to do. margins, they have been lowering prices to get new customers in the door, competitive environment for whole foods. they are saying they will see pressure on margins for 2015.
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greater decline in gross margin than in fiscal year 2014. so, looks like the stock is moving up a little more than 1%. again though, they're saying that they do see some pressure with regards to margin. comparable same-store sales growth low to middle single digits for 2015. but again the stock moving up a little bit higher. pretty even on the numbers but it is all about the guidance for the year on whole foods. we're waiting on cisco and of course we're waiting on tesla. liz: get those to us as soon as they come. todd, i will ask traders what will be the month we start to see rate tightening but before i get to that, give me your thoughts on whole foods. the price points are rather high but good, only problem that margins are tighter, how do you see the numbers. >> i think whole foods is a great company. they have one of the best business models around. they have a high profit margin all the way around. i think numbers look okay, if
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the guidance guides lower that goes in line with higher prices in the meat business and some other things that are changing but overall i think they will be fine and the numbers are fairly good. i wouldn't be too disappointed. david: the founder john mackey having all kinds of service changes to that economy. i have to say i do hold a little bit of whole foods myself. michael, whole foods depends on relatively healthy consumer because you pay premium for higher priced foods. >> absolutely. i don't get too focused on one quarter's earnings but i think as a longer term investor they have a great business model. it is predicated on continued growth and employment. disposable income and lower energy prices. david: michael, i have to stop you because we have cisco earnings coming in. cheryl, what are the numbers? >> we're getting cisco in, beat on earnings per share. the estimate was 51. revenue coming in 11.94 billion versus the estimate of
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11.8 billion. they're increasing quarterly dividend. board of directors dechairing a quarterly dividend, 21 cents common share, two cents higher. nice to see if you own the stock. the stock is moving up higher. david: sort of. >> about 1% or so. we'll take that right now, david. david: well, yeah, just barely moving up. michael, what do you think about that? they beat and yet the stock is barely moving after-hours? >> well, you need to let the dust settle on it. i think it's a reasonable beat. it is nothing outrageous. so i think it is a good quarter, not a great proout quarter. -- blowout quarter. market reaction initially makes sense to me. liz: cisco is too big to move sometimes. kind of smack in the middle of its annual high and its annual low. let's go back to tim. cisco is a large cap. define fairly valued or fully valued? people say the market is looking a little bit fully valued and
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maybe rich? >> yeah. well i think, part of it is, obviously the earnings. right now if you look at the s&p 500, you're getting an earnings yield, profit yield of a little under 6% which is not far off the historical norm. when you compare that to what's the different alternatives to stocks like bonds and real estate. bonds earning two, real estate and rental pass-throughs earning maybe four, stocks at 6% yield look fairly valued. they don't look cheap anymore. they look fairly valued. i think we should have average returns moving forward for equities. we see greater values international like europe and some other areas trading at pretty substantial discounts to comparable u.s. companies. overall we expect higher returns coming from there. david: todd, let's talk about the economy in general because a lot of these companies depend on the health of the economy. you don't think it is as healthy as some people do. have to tell you, richard fisher
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tried to talk to me putting on a happy face about this economy. he is a pretty realistic guy. he is not a dove or not fed. he plays a hawkish role. he thinks even with texas economy, even with pull back of price of oil is doing well. can we talk you being a little more positive on the economy? >> i like richard fisher. i think he is great, however, he did say that, richer have gotten infinitesimally richer, and middle class is making less money than 13 years ago. without the middle class which is his contention and mine, the economy can not move forward until we bring the middle guys back into play. the middle guys are not happy. they're not getting good jobs. we can rave about a goods jobs number on friday. number one employer in the united states right now is fast-food. those are starter jobs we can not replace. 9400 jobs we lost at
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schlumberger. we're replacing good jobs with much less paying jobs that barely pay minimum wage. it is not a good formula. although growth is there in the jobs middle class are not -- david: richard fisher started as a busboy at fees food restaurant. putting it out there. it ain't a bad place to start. the problem is when you replace a good job with one of those jobs. i know what you're saying. liz: michael cuggino and todd horowitz. we're awaiting earnings from tesla after a rough start to the year. should you buy into elon musk's dream or is it a stock stuck in truthnal? our panel debates it. david: building a reputation, that is the challenge head for nbc news and for brian williams. can he do it? can the network do it? we'll talk to the master of managing a pr nightmare. that would be robert dilenschneider. he is coming up. liz: european stocks waiver over uncertainty in greece and
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frankly very weak gdp in many of the nations is now the time to get in and buy? one investor thinks so. he will make his contrarian case and tell you how to play it. ♪
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liz: first it was the pigs nation. portugal, ireland, everybody struggling. now the g in greece has many investors writing off europe as a sound investment right now. david: but our next guest says you might miss a huge opportunity. he may be right. look what has happened to european equities. so far they are outperforming the u.s. this year. nicholas varney is chief investment officer at global guru capital. he joins us now from london. nicholas, europe, let me put honest as face on it as i can. europe is about to bail out a marxist government essentially in greece. that doesn't give me a lot of confidence. why are you confident in europe's future? >> well, tell you what i'm confident for three reasons about european stock markets. first they're as cheap as they have been since jimmy carter was president, based on cyclically
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adjusted price to earnings ratio. trading 40% discount to u.s. stocks. number two you have earnings growth in europe which you don't have much of in the u.s. earnings are expected to grow by 10 to 12%. i've seen estimates for s&p 500 in the u.s., as low as 1% in bank of america, merrill lynch report last week. number three, you have quantitative easing. you have the ecb launching the printing presses in europe, basically a trillion dollar qe program. we all know what happens with qe both from our experience in the u.s. and in japan. stocks take off. and, you're off to the races. that's what you're seeing with the performance of european markets versus u.s. market this is year so far. liz: you lay out some very important positives here some people would see as tailwinds. however you have german bond yields at some points below zero. this is awfully disconcerting and you have extreme economic weakestness at least here in the u.s. over past five years and past three years of quantitative easing you started to see market
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improvement. it was inching along but definitely something you can witness. really noisy data out of europe. are you concerned that their economies are underlying a little bit of rot? >> i agree with you on one level but there is a disconnect between the stock market and underlying economy. liz: true. >> germany is a perfect example. germany is an exporter into the economy. just last year in 2013, despite only having 1 1/2% economic growth which is what they're projecting this year, they recorded a 220 billion euro trade surplus. now that is the record for any economy in history. by way of comparison, china recorded a trade surplus of 150 billion. so they're very export oriented. seven out of 10 euros go to the eurozone. that is the growth engine in a place like germany. if you look what the german market has done this year, you will see they outperformed the broader european markets and germany in particular because of that exportation with the
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falling euro also is a really good bet in terms of earnings growth for top range companies. david: okay. let's go to one of your picks because if you're -- if people think you're on to something but they're a little uneasy, there is a hedge pick that you have. it is he d.j. it's a wisdom tree interhedged equity fund. explain that fund and why it's a good bet for those that kind of believe what you're saying. >> okay. i'll tell you what, making a hedged bet in europe is absolutely crucial. the wisdom tree europe hedge equity fund as you mentioned, it hedges out the euro depreciation risk. so the euro is actually declined by about 14 1/2% the last six months. six 1/2% just since the start of the year but what this hedged etf does it hedges out the currency risk. if you compare the performance of an unhedged european exchange traded fund very as you hedged
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one you see massive outperformance. the bulk of performance of something like hedj is due to the declining euro. only recommendation for u.s. investors only by a hedged etf like hed j. >> you have i-shares, hedged germany? how does that work? viewers want to know specifically how they wrap their minds around that. >> look it is the same thing. the unhedged german etf, is ticker ewg. and the hedged one is hewg for hedged. what is does on a german level is hedges out the euro currency risk. massive difference in performance. unhedged is up 3 1/2% and hedged german etf is up 13 1/2%. that is only within the first five weeks of the year. again because of the strong fundamentals the german exporter
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into the economy you will see big earnings growth coming out of germany that is independent relatively of its anemic growth rate of 1 1/2%. david: nicholas, great picks. we appreciate you coming on. thank you very much. >> terrific. thanks for having me. liz: two big banks warning that now is the time to reduce our exposure to u.s. equities, just what nicholas is saying. are they right? the banks are right or could mirrored highs be on the way? we're bringing in the panel to duke that one out. plus your chance to thrive like a billionaire. warren buffett's auctioning off his cadillacs. we'll tell you how you can get your hands on it. david: apple hitting another all-time high. getting kind of boring, isn't it? the market cap continues to swell into the 700 billions on the way to a trillion. seems a little rich for you? we have cheaper names that could cash in on apple's success. ♪ ok, if you're up there, i could use some help.
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liz: we need to tell you what is going on with tesla. there was a flash that said tesla earnings are out yet nobody can access them all right? so the numbers are not out yet. let's talk about what we do know and it's a lot. the company has been underperforming down about 11% the past three months, up 14% year-over-year but up a thousand percent over five years. will the stock see a jolt now or is it stuck in newt truly for the time-being? let's bring in our panel. we have todd colvin, michael pinto, and fox business's cheryl casone. todd, i will begin with you, very strange we don't have the numbers yet. the second they come out we'll let our viewers know. we know this. there was a leaked memo that says china sales aren't great. what does that mean for the big picture? >> china sales are pretty much minority of overall sales so i don't think that is as significant.
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we're looking product development and new lines coming out next year and year after because that will be key. new products will build tesla with gas prices coming down and electric car buzz going by the wayside. right now you hold on to it, because if they have something in the pipeline i think somebody like elon musk is somebody you can trust going forward. liz: if you don't have it do you buy it? >> i think you wait for a dip. liz: michael, i can only guess. you don't buy stocks that don't pay dividends. tesla doesn't pay for a dividend but what do you think overall the of the company. >> elon musk is renaissance man. he sold 35,000 cars last year. they bought moore he he had seld sells in china than. you can't pay this much market cap for a company that might be probableprofitable in 2020. >> he told me outside of fox studios just a couple monthsing
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a as you see in the video they were going to do it. he is extremely confident. cheryl, maybe this is one of the companies, go back to 1980 when apple became public and launched its ipo. people had no idea what it could become and took a chance on it. >> what is interesting if you look at stock performance over last three months, down 16%. lower gas prices is one of the issues affecting tesla. still coming out staying overall delivery estimates for 2014 they will come up short for deliveries for 2014. certainly elon musk, a visionary. you can't disagree with that. but at the same time the car business very competitive and gm and ford and chrysler have been kind of knocking it out of the park overall. liz: bmw coming out with all electric vehicle selling. they have their numbers up. again the numbers are not out yet. this is very bizarre. we're all watching this. we'll let you know. let's get to ubs and credit suisse both telling clients it is time to reduce
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exposure to u.s. stocks. credit suisse outright warning yesterday saying you can move on from u.s. stocks. are they right, michael pinto? >> i have been short the market since october of 2014. i'm looking for north of a 20% correction any day now. i've been wrong in all candor. but, listen, the fact is that q4, gdp growth was half what q3 gdp growth was and guess what? the gdp growth for all of 2014 is going to be less than it was in 2010! liz: michael, fed is still putting a pillow and inflating it under this market. >> liz, the total market cap is 123% of gdp. that is the most expensive it has ever been outside of 1999. you have no growth rate in earnings and guess what? i think market is in for a huge decline very shortly. liz: you're wrong so far, but todd -- >> i am. liz: right after of the bat i have to ask maybe simply we had a five-year run-up and time to move on? >> it is.
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risks are rising and stock market is not reflecting that. as you said before, fed involvement here will keep the stock market moving up. where will you put your money especially with rates at zero, 10-year yields at 2%. liz: where are you telling your client to put money. >> right now equities is place to be. i'm paring back on equities with the idea run will continue as fed stays at zero. we have no indication from the fed rates going up this year. liz: wait a second. >> i'm sorry. i have to jump in here. every fed governor said they're going to raise rates. >> no. >> in june or july of this year. they're doing so with no growth. >> it a lot of lip service. >> we're trading 20 times trailing 12 month earnings. no growth in earnings per share. the peg ratio is off the charts. >> you have people like jack welch and warren buffett saying how can you possibly tighten rates this year with europe looking way it does? >> that is good point. analysts come on the bismarckket look to the european markets because of their stimulus program. that is where you will make money.
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at the same time you can't bet against the u.s. every year the couple of months that we've seen this trend, 2014 and 13, we have seen pressure on u.s. markets, give it a multitude of reasons, whatever it was. second half of year, last two years, looking incredible growth for u.s. markets. i wouldn't bet against it. liz: still looking at my computer. tesla numbers not out yet. the second they come out -- >> michael i want to bring one thing to your attention the fact the fed has been talking about raising rates for years. the fact of the matter. they're not raising rates. they can't. global headwinds are too great. >> i agree they can't but they will give it one or two tries for sure. >> stocks will tell you when they do and they haven't done that. liz: guys. we've got to more. we have more to argue about coming up with our panel. can aol make it alone or do they need to, i'm not saying merge, partner to survive and with whom? pleus how do you play apple without buying apple? we're going to tell you coming up. stay tuned. david? david: a real rate fight going on.
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forget made in the usa, more companies turning overseas relying entirely on china. coming up we'll talk to the ceo of a toy company what is blocking him from producing his products here in the usa. nbc suspending brian williams for six months without pay. the company still has to work hard to win viewers trust. can they do it? we'll talk to one expert who helped restore the brands of hundreds of companies, bob dilenschneider. tell us what you think. did nbc do the right thing or should they fire brian williams outright? send us a message on facebook or tweet us @fbnatb. your answers coming up. at ally bank no branches equals great rates. it's a fact. kind of like mute buttons equal danger. ...that sound good? not being on this phone call sounds good. it's not muted.
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at ally bank no branches equals great rates. it's a fact. kind of like shopping hungry equals overshopping. >> we're partners with almost everyone in silicon valley and partners with almost everybody in traditional media. we're one of the unique companies with a universal partnership strategy. i think you will see us continue to partner and make more partnership announcements as year goes on. >> with who? that is what aol ceo tim armstrong. we're partnering with everybody in silicon valley almost. traditional media. can aol continue to make it as a stand alone company or do they need to make as ma i have is partnership announcement? cheryl, with amazon, netflix or
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who knows what else? >> aol certainly has the name and brand. tim armstrong is one of the most innovative ceos in the last decade. at the same time he is under a lot of pressure. he has a lot of management changes at the company. there is a lost leadership changes, people he lech r let go for lack of performance. if he gets right people on his team to establish partnerships and manage partnerships, yes he needs them and yes he should do them. liz: michael, since 2012 the stock is up 119%. the question becomes who are they in competition with? is it google or yahoo!? don't ask about partnering with yahoo! or merging with them. ii don't he is interested. >> he should partner with verizon. the problem with aol they have 2.3 million subscribers with dial up modem. to find a dial up modem you need to visit nursing home. these people are on death's door. join with verizon and say good-bye. liz: todd? >> i agree.
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they need help. their revenues are exclusively linked to subscribers. they have nothing to fall back on if things fall apart. liz: they did excellent in global ad revenue. >> they did but need someone to partner with moving forward. liz: apple, topping $124 a share today for the first time with, a price price-to-earnings ratio of now over 16. is apple getting a little too expensive? and if so, which other tech stocks should investors consider buying? what is like apple but not apple? cheryl? >> well, actually i was looking at the market cap of company like apple versus walmart or bank of america. look at it at google though. i think google is the stock to watch. in that space google is coming up with amazing new technologies. they're getting into all kinds of things. i think google could be the other anti-apple if you can't afford apple. liz: todd, is their halo effect pro apple? companies help apple do what it does? maybe you buy those not apple.
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>> go with service companies it may be cheaper way to ride the apple wave. apple is like when they issue bonds like microsoft, they're a better investment than uncle sam. apple and microsoft those will continue thrive and people will buy them. liz: michael, you like stocks with dividends. what do you like now? >> i like corning they make gorilla glass. liz: sure. >> the kids like to see if the phones bounce and play basketball with these phones. i like gorilla glass. >> liz loves gorilla glass. my favorite video from liz claman is boom, hitting gorilla glass. liz: one of their biggest competitors sapphire is out of business. that is the issue. they really own the market. glw stands for glass works, corning's old ticker symbol. todd, michael and cheryl. thank you very much. david: we're hearing from you folks about brian williams on facebook. lisa writes in to say, will
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anybody be able to watch him again and believe he is telling the truth? he lost all credibility. right thing for him to do is retire and get out of the news business. tell us what you think. send us a message on facebook or tweet. more of your answers straight ahead. nbc is right in the middle. this is a pr nightmare, no other way to describe it. so how can they regain the trust that has been lost? branding genius bob dilenschneider, joining us in a moment with some of his answers. plus we're talking to the ceo of a toy company that has tried unsuccessfully to bring its production process back home to the u.s. what is standing in his and a lot of other businesses way? after 17 years at the desk and 19 emmys with "the daily show, host jon stewart has announced he will be stepping down. >> michelle of comedy central gave me an incredible opportunity 11 years ago to pilot this wonderful franchise. it is time for someone else to
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david: with or without brian williams nbc news has to work very hard to restore its brand as a reliable news source. how does it do that? a man who helped hundreds of individual organizations restore and illuminate their brands joins us. bob dilenschneider group, founder and chairman. bob, so good to see you. thank you for being here. have you been contacted by either nbc or mr. williams? >> i have spoken to both, david. not, as clients but i have spoken to both. david: can you tell us anything about what was said? >> well this is a high-stakes game. everybody knows that. i think brian williams, high-stakes for him. high-stakes for nbc if they don't figure out what to do after six months. but i firmly believe if williams does the right thing, he can recover. i know that is going against the grain in terms of way people think about this but he can recover. he has to do the right thing.
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this is a very delicate moment for him. we'll have to see what he does. david: we're off to kind of a shaky start, are we not, bob? there were hesitations. then they came out with this six-month suspension. what do you think of what both nbc and brian have done so far? >> i think they both have done a pretty poor job. i think that -- david: what should they have done? >> well, brian, first of all, should have been very contrite. he should have reached out in constructive and positive way and asked for forgiveness. america likes to give people second chances. we're a country that has done that. and he should talk about that. he should also get other people on his side talking about that. that's a big factor. what he does in the next six months will be absolutely critical. he has to align himself with symbols that other people say, i trust that symbol. he has got to find ways to continually seek contrition. nobody is just going to erase
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this. everybody is going to remember it. and nbc really has the big problem because of the end of six months they have to either take brian back, or, at the end of six months they have to let brian go. they don't want to seem weak. they don't want to seem in a position where they don't know what they're doing. they have a big problem. david: well, they have already lost about to% of the viewers on the night, i think we put up-rates on the night that he gave his apology, initial apology, they had a number that was about 20% more than what it is now. so they're already losing a big market share. >> serious money is being lost here by nbc. i'm sure that is not lost on comcast, the owner. i think that cbs, abc, pbs, and of course fox are looking to get some of those people that were on the nbc line in the past. as they probably should. it is going to be a very, very, tough and difficult six months.
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nbc can do things to recover. one of the keys to them recovering is breaking big stories that nobody else has. if they can break those big stories, and that is tough in the business, they will be able to get people tuning in because of the stories, not because of the personalities. david: unfortunately that is easier said than done. you just don't break stories easily. if it would that easy everybody would be doing it. i'm wondering if nbc as an organization draws on their past? they have illustrious past, huntley and brinkley, chet huntley, david brinkly, brought to the news business a sense of honor and discipline, at that time you had it all over and cbs had edward r. murrow and waller cronkite but these two, do you bring up the past? do you show the public how they could possibly get back to that tradition they had? >> this is the time for nbc to do exactly that. to cite chet huntley, to cite
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david brinkley. to cite all the people that made nbc news what it is. this is the time to do that. not talk at all about brian williams. if nbc doesn't say a word about brian williams force the next six months that is the right thing. brian williams -- david: you mentioned before what brian williams has to do, about coming out saying some things. would they give him the freedom to do that, or do you think they should keep him quiet? >> i don't think nbc has a choice. brian williams is the hottest ticket in journalism right now, even hotter than jon stewart. he can do pretty much anything he wants to do. he has to figure out what to do and how to do it. he has to associate himself with positive symbols that people say, these guys like brian williams, i like brian williams. he has to find a way to give money to charity. he has got to find a way to reach out to people in need. he has got to do those kind of things. that will make a big difference. david: we have got to go but i have to ask, have you ever seen
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any individual beaten down as much as he has been beaten down by this story and come back? >> it has been brutal. i have not seen anybody do it. but if anybody can do it, brian williams can do it. he has a lot of supporters out there, not surprised he called you. bob dilenschneider. thanks for being here. >> thank you, liz. >> we have news out of the boston snowstorms. the head of nbta and the runs the rail system and t in boston submit adler of resignation. beverly scott. she is the general manager. massive complaints how the t and rails have been shut down. they have been on again but mostly off again in the wake of massive snowstorms. real problems there have been revelations apparently repairs that were needed weren't done well before the storm. there were not enough people of put in charge making sure tracks were clear. now appears, beverly scott, head of boston's nbta that runs the rails and the t out. go to different kind of
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transportation, cars. now is your chance to drive like billionaire warren buffett or at least in his car. the "oracle of omaha" auctioning off his 2006 cadillac dts for charity. starting today, girls, inc., girls incorporated for omaha, has a online auction which has just over 20,000 miles. bidding starts at 10,000. runs through next thursday. the car enclouds air-conditioning, heated seats and even, as you saw, warren buffett's signature on the dashboard. the famed investor will personally hand over keys to the new owner, if the new owner is willing to travel to omaha. warren buffett and his family have had a long association with girls, inc., in omaha. his daughter suzie serves on the board. good cause. david: do you get any advice with the keys. liz: i'm sure he wins will surely ask him. david: they will try to get it. look at these toys, very fun toy, both of them but they're trying to bring production of
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these toys back to the u.s. these are manufactured in china. they're running into some major hurdles he will tell us about. liz: we're bringing back todd colvin, to tell us the number one thing you need to watch tomorrow. don't go anywhere. you can't afford to miss this. >> hello, everybody, i'm gerri willis. coming up on my show at the top of the hour, president obama bashes big business over obamacare in a very public feud with staples. so does the president have it right? that is one of the big stories coming up on "the willis report" in just a few minutes. the future of the market is never clear. but at t. rowe price, we can help guide your retirement savings. our experience is one reason 100% of our retirement funds beat their 10-year lipper averages. so wherever your long-term goals take you, we can help you feel confident. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. call us or your advisor. t. rowe price. invest with confidence.
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david: having so much fun with these. there is big push for items made in the usa but is shifting production to the us from china harder than it sounds? gerri: according to the ceo of marshmallow fun. these are amazing. they're great toys. you for the life of the effort that you put in together can not bring manufacturing back to the u.s. why not? >> it is so difficult. once it leaves our shore it is hard to bring it back. that has been the common problem whether it be clothing or toys in almost any category. david: china has these big, big factories. called contract manufacturers. >> they're massive. david: where you go to, why can't we have any here? so many people are out of work? because of the labor costs? >> total setup. labor costs. labor in china obviously is
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less. material is very similar but labor where they really win. their ability to set up these huge factories that are, if you go into them, you would be shocked how automated they are. liz: they're very modern. >> totally modern. liz: aiming at austin our floor director. this is horrible. cover your eyes. david: oh. liz: marshmallows they're soft. david: or do this. hold on a second. there we go. liz: talk how you came up with the idea? >> i would, can i shoot austin first? david: all right. >> this is birthday party for my son. the night before the party my wife said, would you go out and make a bunch of pvc blowers for jake's birthday party? it was easier to say yes no. i had manufacturing background. went to home depot, bought a bunch of pvc and glued it. >> what is pvc. >> white plumbers tube. the kids were playing with the
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marshmellows. parents were shooting marshmellows. one of my best friends, and i have been talking for years trying come up with something that kids want. he pulls up with this kid. they get out car. look at one another. let's take it to another level. that is how we started. david: not just for kids obviously. college kids love it. grown ups love it. we love playing with it here in the studio but again how you bring the manufacturing back home. a lot of people who i know gone over to china. yes, the labor is cheaper there but the quality is really pretty bad and, some of them have brought their manufacturing back here. might the same happen to you? >> i don't know if that could possibly happen at this point all they we continue to try. you get what you pay for. if you pay cheap in the u.s., that's what you're going to get. if you pay cheap in china that's what you're going to get. liz: why not then since you're so good starting businesses start a contract manufacturing plant? david: that is a good suggestion. >> it takes a lot of labor. the problem, when you grow into
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let's say a bed, bath & beyond or go into department stores, macy's, 95% of the what you see is made offshore. so how do you bring that back? david: but, you mentioned all the robotics used in china these factories. we have state of the art robotics here. we have 3d printers might be used somehow in the process. >> would consumer be willing to pay the price? that is the problem. david: good question. >> asia has spoiled us on price. when you look at our fiberglass arms we make it to last. we put a lot of make into it. if we made it here it would probably be three times as much. would the consumer buy it. david: we have to leave that question open. thank you so much. >> thank you so much. pleasure being here. david: marshmallow fun company. right in the nose. liz: ghost buster themed one. perfect. david: something a little more serious. liz: we've been asking if you think nbc should fire brian williams? can he regain credibility?
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lester said people have short memories. in six months he will be welcomed back. david: michael says i'm sure he has very large cash cushion to lessen the fall. liz: james said brian williams could have great career in politics. all right. we're bringing backed to colvin. what is it todd? >> two things. sorry to do this to you. retail sales comes out early. that will set the tone for the day. overall greece message. accept bailout proposal for e.u. that will set the don't for holiday weekend. david: if they accept it, if europe accept as deal greece, probably won't be able to honor that deal, doesn't that set a terrible precedent for countries like spain, portugal and italy? >> i don't know know what to say to that except yes. david: maybe the best thing to happen they reject the deal? >> they could reject the deal. that also set as precedent. that puts the weight on germany. they are ones that will suffer for pay the brunt. liz: should let everybody know,
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retail sales number comes out tomorrow. fox business will have it. todd could colvin. david: happy you could join us. appreciate you coming. come back to he sues tomorrow. liz: we'll be right here. right now "the willis report" is next. gerri: hello, everybody, i'm gerri willis and this is "the willis report." the show where consumers are our business. president obama and staples at war over obamacare. >> when i hear large corporations trying to blame our interest in providing health insurance as an excuse for cutting back workers wages, shame on them. gerri: does the president have his fact the right or wrong on this issue? millions of social security numbers are stolen every year, with it, people's tax refunds. what happens if your tax refund is stolen? we'll investigate. everything you knew about cholesterol could change. what's in the new government guidelines on cholesterol mean and are the feds just causing more confusion? >> we are not

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