tv MONEY With Melissa Francis FOX Business March 4, 2015 2:00pm-3:01pm EST
email server for years, despite being warned against it. more bad news for lumber liquidators. a top senator calling for a federal investigation after the "60 minutes" expose'. why one of the saviest women in business says the key to getting ahead in your career, is to be fired! all right, but first we start with breaking news. peter barnes on the fed's beige book. peter. >> hey, melissa, the beige book says quote, economic activity continued to expand across most regions and sectors at a moderate pace or modestly in eight districts and about mixed in the other four. this is informal survey of business conditions fed members use at their next policy meeting in two weeks. they're watching wages and inflation closely for clues when to start raising short-term interest rates. the report says quote, wage pressures remain moderate and limited largely to workers in skilled occupations. most districts cited flat to slightly increasing prices but
shades of increase in hourly wages at walmart, a report says quote a staffing firm in the chicago district reported some companies were also willing to raise rates for unskilled workers to reduce turnover. and contacts in the atlanta district noted increasing entry level wages. the report says consumer spending rose in most districts. with the blizzard slamming the east coast recently the boston and cleveland districts also reported increased sales of winter related items such as winter apparel rock salt and snow shovels. melissa, back to you. melissa: peter, thank you so much. here is a look at market reaction. off the lows of the session. dow and nasdaq suffering the steepest selloff since january. let's bring in today's panel. charlie gasparino, senior correspondent "wall street journal's" james freeman and moody's chief economist, john lonski. i heard moderate, moderate and
mixed. >> same old song. if the economy is picking up speed it not a rapid pace of economic growth typical of previous recoveries. nevertheless i think the fed very much wants to hike interest rates at some point this year. melissa: james? >> i don't think the market believes they really want to do that. they should be doing that. because you've got consumers now more eager to spend as we talked about. wages are going up. the only real reason you can say inflation isn't going anywhere which is oil which dropped for supply reasons demand reasons and the u.s. government preventing exports of crude oil which is holding that gasoline price and that oil price i should say in the u.s. below the world market. >> one fed governor, i can't remember who it was, evans, that ring a bell? >> yes. >> mr. evans coming out today saying is in favor of raising rates in 2016. melissa: sigh. go ahead, john. >> futures contract, by end of this year the fed funds rate will between one-half and .57
of a percent. >> almost nothing. i really think rates are not going up anytime soon. melissa: i don't think so. supreme court justices are split as they 10er into the boxing ring for round two over the battle for the president's health care law. a victory for the plaintiff's could blow a hole big enough in obamacare to fit nearly 10 million people. the fight is over four words in the law. that is what it comes down to. it says people who can't afford insurance can get subsidies, on an exchange quote, established by the state. in 34 states it is the federal government runs the exchange. james freeman, how big of a deal is this? >> you put it on the screen. it is very clear. subsidies can not go to 30 plus states. it is a big deal t would not just knock out be subsidies, but individual mandate and employer mandate if this challenge succeeds. >> the left in this country, where the left is channel, jeffrey toobin at new yorker,
saying this comes down to nothing more than semantics. the meaning this was federal, almost entitlement. that is what congress passed. i will tell you i read your column or, red your editorial today, i've been speaking to people obamacare was passed by a pretty, somewhat divided democratic house and senate because they thought there was buy-in by the states. melissa: what is your exclusive news on this. >> i'm explaining what you just talked about. melissa: i thought we were doing exclusive news. >> we can do that too. what is -- >> exclusive is that he read our editorial. melissa: no not that. get in before we -- >> what i'm trying to say is, that the left is making into semantics really when they voted for this thing, congress wanted the states to be part of it. they wanted buy-in. states are not buying in. melissa: john. >> this is poorly-written law, sloppily put together. heightened state of uncertainty
what the final meaning of affordable care act is. simply inch tolerable. >> reason -- melissa: what is the news? >> this is it. look at who filed the amicus briefs for the government to know who will lose on this. it is insurance company stocks. if you think that supreme court is going to reverse obamacare, get rid of obamacare, all those stocks are going to get hammered, hammered big time. they ran up because of obamacare. remember obamacare is much less socialized medicine than an insurance mandate. they will get crushed. melissa: okay. >> everyone knows the government should lose if they just read what the law says. that's why the supreme court today justice kennedy was not talking about what the law means. this isn't some great constitutional question. it is basically politically can we can we allow this thing to fall without political chaos? lots of people getting thrown off the plans and being upset about it. republicans in the house have to
do to show they're ready with alternative. paul ryan and fred upton put forth an idea in our paper this week. >> why would the supreme court, isn't it horrible that the supreme court is looking there not looking at the law and the constitution, they're looking whether chaos -- melissa: no, we don't know that. >> from the questioning by the way it is disappointing when you have four liberal justices who are completely with the government obviously from the get-go. and then the swing guy is basically asking about, you know, can we really do this? , does it mean we would have knock out the law? >> is roberts the swing guy or kennedy? >> they may both be. we didn't hear much from roberts. melissa: extending statement on beige book. fed confirming drilling for oil and gas is down. take a look at crude oil right now. it is rising up better than 2% as we talk about this. that is a big move.
two report adding fuel to the fire for hillary clinton use of email when she was secretary of state. instead of using google or aol for private email, she had a private server registered in her home in new york state. that is a lot of trouble to have your own server put in. you wonder why would you go through all of that? >> here is the thing reporters forget about the clintons. i was at "the wall street journal" on the news side when bill clinton was president. they were the gift that keeps on giving in terms of intrigue and crony capitalism. it is going to be wonderful if -- i might even vote for her, so she becomes president and we have all these stories. because, you know jeb bush will be boring. will want to lower taxes. will want to get rid of obamacare. okay. he will come up with different things. melissa: you're saying these folks really usher in scandals? >> that will be so much fun. >> the normal rules don't seem to apply to them ever. whether it is government
transparency. having to maintain records as every other member of the federal government does -- melissa: said she had hdr-22@clinton email.com so she could have perfect control of the server. as folks demand to see emails from the state department, she can decide to turn over and what not to. >> hillary rodham clinton learn ad great deal from richard milhous nixon. she can get get caught and get away with it. nixon got caught and couldn't. melissa: that was a lot. washington post is reporting that, house representatives investigative committee is going to subpoena her emails later today. >> who didn't know that was going to happen? >> assume it could be oversight committee or special benghazi committee is the one who found this. this is really the story they broke. what is clear is, thousands of her emails were never turned over. melissa: yeah. >> she has this private account. she decides what is released.
she didn't disclose any of it until two years after she left the state department. we're trying to get better -- >> you know what is scary about this story? for years, we talked about it. they thought it was like right-wing cooksdkooks brought this up. we didn't do massive investigations but definitely talked about it. the notion the clinton foundation this thing this charity, with all this corporate sponsorship might pose a conflict of interest to her job currently -- melissa: looking at bottom of your screen, about getting her emails and subpoenaing them. supposed to be about benghazi. but in our minds it is very much about the foundation. >> it could be about everything. she is all over the place. think about what she did she and her husband think she was part of it ran a charity that basically took gazillions of dollars from governments and big corporations who obviously want some payback. melissa: they weren't getting for that. >> what did they think they were getting? your government oversees your government, some of them fairly
large governments -- melissa: saudi arabia. >> you decide the best way to provide aid to the world is route it through bill and hillary's foundation. lech them take the overhead and all of their travel and conferences. melissa: best way to get to mosquito netting to africa filter it through the clintons of the i don't think so. >> goldman sachs which has its own massive charity organization, has to give to her? melissa: right right. exactly. thanks, guys. black gold overflowing in the u.s., the oil supply is so big that we're running out of places to put it. the white house offering up a chilly response to benjamin netanyahu. jon stewart has his own theory. smart money coming up. >> not that there won't be any rep percutions. -- repercussion. >> joe biden in guatemala is snubbing netanyahu's speech. >> right. that is why the vice president is in guatemala, to snub the speech. not to protect mrs. netanyahu
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melissa: italy still worried about a possible attack by isis. this time the vatican speaking out. a security chief for the pope says that the threat is real and that the pontiff himself is at risk. the commander told italian media that an attack could come at anytime, even though there is no evidence of anything actually being planned. that's scary. two thumbs down. iran slamming netanyahu's address to congress calling the speech boring and repetitive. surprising that is what they would think, isn't it? the country's supreme leader responding tweeting, yes, tweeting, quote, in the past 50 years how much money and reputation has it cost i would imagine the u.s. support israel's crimes? who other than its nation has paid for it? here, chris harmer, institute of study for war. james is back as well. it is amazing to me there is a
battle on twitter. setting that aside for the moment, one of the big issues coming out of the speech yesterday, is it better to be at the table with iran or not at the table? chris harmer, you're somebody who studies war, is it better to be at the table or not right now? >> pleasure to be with you. thanks for having me. win ton churchhill said talk, talk is better than war, war. obviously better to talk than fight. there is difference between talking communicating, negotiating away your position. right now i think what the united states is doing making a huge mistake allowing iran to reap benefits of violating our previous red lines. security council resolution 19289 passed in 2010 consolidated several resolutions. key take away iran was not allowed to conduct any enrichment activity in its nuclear program and number two iran was not allowed to conduct anti-ballistic missile programs.
staggering we're rewarding them by their additional behave year giving them another deal. you can talk with iran by not negotiating previously what we required them to do. melissa: need to sit down and talk, very upset about benjamin netanyahu yesterday. in response to that this was lieutenant colonel ralph peters on lou dobbs program. let me play that for you. james you can respond on the other side. >> you heard the president, spiteful and bitchy as a teenage girl left out of the clique, attacking netanyahu. i only wish lou, the president president obama had just once shown that level of anger towards vladmir putin's aggression or the islamic state beheadings. melissa: i get what he is saying there. i'm not sure about the bitchy teenage girl thing. something a little sexist. maybe "mean girls" is what he was going for. setting aside that, there was a
lot more passion in response to netanyahu than we saw in the his response to beheading of i think james foley when he went golfing right afterwards. >> as far as what we wishing for the president, i wish he understood the leverage that he had with iran. i think you looked at the sanctions we had on them, they were working. their economy their currency was taking a beating. we really isolate ad lot of their banks from the international financial system. unfortunately this looks like a second term legacy project, seeking a deal at any costs. it seems to be moving in the wrong direction. melissa: yeah. >> would i have liked, this is a region game that supports terrorism, treats its own people horribly. cron if you could ever do a deal with them but if you were going to where they're seeking the deal not where we're seeking the deal. melissa: chris, let me ask you thats a final point before we go is this somebody you can trust and make a deal with? do you believe that is possible? >> absolutely not. nothing in the entire history of the iran republic of they're
least bit rational or reasonable negotiating partner. we have 36 history with islamic republic of iran. they're state sponsor of terrorism. been that way for entire history. primary sponsor of hezbollah and shiite militias. these are the principal sponsors of state based terrorism. no reason to trust anything they have to say that they showed conclusively complied with the previous red lines, enriching nuclear fuel and testing ballistic missiles. melissa: thanks to both of you for your time. shares of lumber liquidators plunging on news of a possible federal probe to the lowest prize since 2012. followed a report by "60 minutes," senator bill nelson calling for investigation into the about formaldehyde in the company's flooring as well as it is claims. company officials were no shows at an investor conference where
they were slated to speak today. you can see the stock there getting slammed. >> more drones over paris. a dozen reports of mystery machines flying near the u.s. embassy. stay on that ad. why millions online, think this clip is unskippable. you have to see what happens next. do you ever have too much money? ♪
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reports of machines flying near the u.s. embassy and the eiffel tower. drones are illegal in france without a license. that could land you in jail for a year. so watch out if you're the one doing it. over to nepal, a plane went skidding off the runway because of thick fog. they had to circle for 30 minutes above the airport before it finally tried to land. the plane was carrying 200 people. luckily none of them was seriously hurt. wow, that had to be scary. going to russia where edward snowden is seriously considering a return to the usa. his russian lawyers say he is willing to come home on the condition he is given a fair trial. u.s. officials say he is welcome at anytime but must face all the criminal charges filed against him. that should be very interesting. carrie taking the wheel. causing a huge shake-up at dick's sporting goods. the retailer will aadidas off
the shelves to make way for carrie underwood's new footwear. we have peter shenkman, author of the new book, zombie loyalists. peter let me start with you. this is a big trend. a lot of celebrities getting into active wear, loungeware, whatever it is called. carey underwood is good entrance? >> seen her perform she is very active. she admits that level of activity. melissa: she is not an athlete. >> not an athlete, but that is the issue. can only go so far with some athletes and look at see every day. this is someone in the music industry, this is a new break. we can move toward this and hit a whole new target market. melissa: jonathan i'm surprised kicking off the likes of adidas. >> common. >> really? >> remember they kicked bugle boy out. they kicked jordache out. >> bugle boy. i haven't that in years. melissa: so many bizarre names
you're throwing around here. >> these are all brands of the 1980s. these are all brands of the 1980s once very popular. jordache body glove among the networks. extremely popular, 20, 30 years ago now unpopular, melissa. i don't think it was athletes versus entertainers, that fashion is highly competitive business. today's youth want new ideas. see adidas come back but retro. melissa: everybody is getting into this business. kate hudson has got a line. go on to the next topic. being unskippable ad. have you seen this. >> it is awesome. melissa: geico's new spot, next time it pops up on your browser. watch. >> don't thank me. thank the savings. >> you can't skip this geico ad because it is already over. geico, 15 minutes could save you 15% or more on car insurance. melissa: okay. so here we go. the ad pauses after that. this adorable st. bernard goes to plate to plate stealing spaghetti from entire family.
what is amazing to me it wracked up about million 1/2 views on youtube. people sit here and watch, while the dog is cute but disgusting to go around the table to knock everything over. jonathan hoenig, your take. >> i have a st. bernard, very realistic to actual life. but geico succeeds melissa they're smart and funny with advertising, they have a lot of it. 6% of the company's revenue goes towards advertising. you know what? they made a brand that sticks. melissa: peter, this is your forte. >> it was brilliant, brilliant. i watched it four times. when he knocks over the milk the kid actually moves. this is homage to leslie nielsen naked gun. whenever they end, last minute they would freeze and sealing would fall down. this is homage so '70s tv. this is great. melissa: what is amazing i didn't walk the naked gun past to the credits to things that happened later. i'm sort of sad for you if that
is what you did. >> i didn't have. of a life. look what i know. melissa: speaking of adorable dogs, check out this hulk. 17-month-old. he weighs 173 pounds. he eats four pounds of meat daily. may be the world's biggest pitbull. he breaks stereotypes. naps with the three-year-old son. until he snaps and eats the child. >> pitbulls are good animals. melissa: really? >> pitbulls are wonderful animals? melissa: really? jonathan hoenig. >> getting a word from michelle obama. would like to see the pitbull in other office asap. we have opposety problem in this country. melissa: there you go. thank you so much. jetblue flight ends with a man in handcuffs as he overstays his welcome. he just wanted to see what it felt like to sit in the captain's chair come on. my eight-year-old does it all the time. hillary clinton says away from the email controversy but picks
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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. was that you jason? it was geoffrey! it was jason. it could've been brenda. melissa: supreme court justices appear to be split. rich is outside with this. you get subsidies in exchange. thirty-four states have decided not to develop these exchanges. are those state getting insurance subsidies? justice anthony kennedy here playing that role today. on one hand challenging the
petitioners. on the other hand, later in the argument seeming to come out against what the government was saying on all of this. those subsidies go way for folks in those states. some 8 million people. they have no backup. >> they want it to mean. >> those plaintiffs say those four words are clear. melissa: safina hillary clinton's personal e-mail.
what do you got? >> she invented twitter didn't she? >> when you are using private e-mails, that means you don't want anyone to find out what you are saying. what is she saying? i cannot wait to read these. melissa: james freeman. whatever reason, my brain cannot handle that. it is a lot of trouble. making sure you can have control over these e-mails. you have total control over what is turned over what is it. >> they would be relieved.
the idea is that the cabinet secretary cannot at all fully use a home system. provide none of the e-mails to the government until two years later. nobody else gets away with this. they are hoping that that 90s custom comes into -- >> you get away with everything. how many of these e-mails have been erased or lost. >> how will we know? >> we could not get a lot of e-mails at the irs. >> even in that room, you did not find that many super excited people. i think that this is one more reason why elizabeth warren takes a look at this race.
she can run against hillary on foreign government money. wall street money. lack of transparency. it is kind of tailor-made for her populist pitch. melissa: steve moore i predict that elizabeth warren gets back in. >> yes. gerri brown two of california. i think even chilly yes. she will look at it and say that this is her window. melissa: thanks to both of you. oil rebounding big time. concerns over iran's nuclear program. crude supplies more than two and a half times more than wall street expect it. running out of places to put all of this oil. let's go to phil flynn. this is amazing.
we are running out of storage space. predicting that oil could fall all the way to $20. what you think? >> i do not think that he is right on this one. this is where we will disconnect. this mantra that we will run out of places to put storage. it was proved by today's report. if you break it down, apply only rose 500,000 a barrel. we are not even 50 million barrels yet in oklahoma. our supplies are barely 50% fall right out. there is plenty of storage out
there. when we get oil down into the gulf coast it usually will not stay there. supplies are at a record high. find loopholes around the export and. >> phil, thank you so much. appreciate it. pressure is on. many students will not go to their first choice college because of the cost. gerri willis is looking into this all week. she will show you how to compare schools and make the right choice. that is that 5:00 p.m. eastern. you can call them golddiggers. the shocking 911 call. blame it on your cheating heart.
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antibiotics from all of its chicken within two years. a big shakeup coming to the oscars. the academy is thinking about going back to five best picture knees. the number of possible nominees would increase six years ago in an effort to boost ratings. that is the latest from the fox business network. giving you the power to prosper. ♪
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>> security guards transporting a truck full of gold from miami to massachusetts. they pulled over from engine trouble. they tied their hands behind their backs. fortunately, nobody was hurt. inside job? i don't know. we will see. we have some horrifying news for you. nearly one in four americans are hiding a bank account from their significant other. that is a high number. 25% of you. and estimated 7.2. it must mean my husband does.
they start acting differently. change in money flow. >> most of the time, there is a change. they grow out of control. if there has been a change in their behavior, if they are overly protective about that credit card statement -- melissa: biting their nails. all telltale signs. okay. if they are changing the addresses on the po boxes. >> changing addresses to po boxes. if you start to receive a bank statement that does not have your name on it. most of the time, they will be very secretive about that.
>> i am so sorry. here is what i have been doing. melissa: live pictures from washington. the senate is unable to override the president's veto. sixty-seven votes were needed. supporters were five votes short. that is happening right now. the alleged boston bombing marathon. the defense attorney gave details on how the suspect was
enlisted by his brother. a man was found hiding in the cockpit of a plane. the man has now been charged with trespassing. be sure to watch fox business is new show strange inheritance. a tree stump. yes. a tree stomp. it dates all the way back to the civil war. 134-foot their mom at her. you do not want to miss them. they are really fun. from football. one australian athlete into an nfl contract. a postdoc.
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that airport security realized the man had squeezed lots of cash into many things. the guy told customs he was traveling with about five rand. he was off just a little bit. let's check in with liz claman. >> maybe melissa it is because one federal reserve resident is speaking up within the last hour. wait until you hear what she says. the man who shepherded the decline back to the nasdaq 5000. now, this bigger problem is not is there a bubble, it is how do you become a superhero against cyber crime. bob greifeld on that pacific
topic and so much more. he joined the years after they hit nasdaq 5000. the i watch. we have the future is to have in just the past 24 hours ate a complete 180 on her opinion of this. you have two wait until you hear what she says. the specific way that made her change her mind about the apple watch. you should land to give fired at least once. at the end of the day it is all about money. ♪
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sixty-seven votes were needed. they were five votes short. look at that. now for something you have to see. a us postal worker caught on camera tossing packages up to a door. chucking it up there. the recipient of that parcel say hundreds of dollars were damaged. here you go. not walking up those stairs. forget it. vogue editor an awinter, everyone should be fired at least once in their career. i was fired. shout out to karen brown in new hampshire. i think she sells insurance there or something like that. best thing that ever happened to me. teaches you to stand up for yourself. you can do it. peter, you been fired? >> yes, i have. best thing that ever happened. >> why was that good? >> it taught me loyalty and the concept of riding something out
doesn't exist. went out on my own. >> i don't see you getting fired. >> i haven't been fired lately. melissa: ever? >> i did fire myself once. independenti wanted to call it a layoff. but it was a firing. couldn't make any money off aol. i learned if you'll start a business, you have to have a defensible end. you can't say this is a neat idea. melissa: you weren't really fired. i had 30 minutes to fill my box. >> same thing. aol.com i lost it. >> okay. it wasn't a bankruptcy. there were no bills left unpaid. it was pretty ugly at the end. >> great thing that can happen. every kid needs to learn that stay humble stay hustling. you never know when you'll wake up -- melissa: and you will survive. >> you'll lose through it. and i'm so fortunate.
totally. >> day is still early. you can still get fired. >> some other show. melissa: there we go. that's all we have. hope you're making money today. liz claman is here with "countdown." take it away. liz: thank you very much. breaking news at this hour. summer interest hike, one step closer. june. kansas president esther george pushing for that. in the text of the speech that she's worried that waiting any longer will leave the fed, quote, behind the curve and force it to raise rates more frantically in the future. could her remarks be underpinning the market which is all to the downside. let's keep in mind she's not a current voting member of the fed. dow was down 170 points. we're nowhere near the flatline here. getting into any sign of green. stunning revolution from warren