Skip to main content

tv   MONEY With Melissa Francis  FOX Business  May 4, 2015 2:00pm-3:01pm EDT

2:00 pm
. melissa: mcdonald's announcing plans to win you backing. talks of restructuring and cost cutting. not one mention of the food though. uh-oh. massive stimulus and what do we have to show for us? new fears after lost decade as slow growth trudges on. fight of the century that wasn't. backlash against pay-per-view as boxing fans take matters into their own hands because even when they say it's not, it is always about money
2:01 pm
melissa: as hillary clinton takes another grabbing at the oval office her husband is attempting to put out the flames of controversy that have engulfed the family's foundation. former president bill clinton defend requested top dollar donations from foreign donors as well as his decision to continue to give six figure paid speeches. >> i don't think there is anything sinister in trying to get wealthy people and in countries that are serious involved in development to spend their money wisely in a way that helps poor people and lifts them up. >> she is now running for president. will you continue to give speeches? >> oh, yeah. i got to pay our bills. >> but how do working americans say and look, $500,000 per speech. >> i spend a couple hours a day doing research. people like to hear me speak. melissa: that is my favorite answer of all time to any question that i have ever heard. that wins. that is it. joined by john lonski, moody's chief economist. jack hough of "barron's." michael good win of
2:02 pm
"new york post." a fox news contributor. you can't beat that i have to pay the bills. pay the bills. are you kidding me? they have conservatively $55 million. probably 200 million. >> right. melissa: i will let you go first, michael. >> net worth of the family is primarily because of these speeches, books everything else they have been doing. this idea he has just got to keep doing this? he doesn't want to face the fact although he has in the past there is inherent conflict of interest here with his wife running for president former secretary of state. a lot of these contributions from foreign sources came while she was secretary of state and lobbying foreign governments. melissa: no doubt. >> something is unholy about all of this. melissa: definitely. you love of the response. i love this. even when he said, clintons they are just like us. because they say $500000 for a speech. i work hard on this. i spent a couple of hours just doing the reserve. that is worth $500,000, jack hough. >> at least. i'm among one of those people who likes to hear him speak when
2:03 pm
he says things like that. melissa: that was pretty good. >> it is clear to me that many of the people giving this money, let's be clear. the foundation does a lot of good work around the world but it is clear to me some of the people who have given money to it are people maybe who got influence. i think people are looking influence. i don't see any smoking gun where someone gave money and got something directly. melissa: they spend the vast majority of money on personal slush fund on operations. the good works you talk about are a tiny fraction how they spend the money. john lonski. >> pays to be a friend of bill. inflation is well-contained. what is going on here. he is from chappaqua. that is where i live. they try to get him to speak at charitable functions. he refuses to do so at deep discount. melissa: really? >> yes. melissa: better hold off on scheduling that brunch. your mom might have plans with hillary clinton this mother's day. in turn of giving up your email
2:04 pm
address, the clinton campaign is raveling off to win a call from hillary, to surprise a mom you love. i'm hoping that my kids put me in the contest, if she calls me i have a lot of questions for her on the other end of that phone. that would be pretty entertaining. will you do this for your mom? >> if your mom works at russian uranium company are you still qualified to enter this contest? melissa: jack hough, what do you think? >> this is all marketing. no substance. melissa: john lonski, i mean you're sorry. >> young boy, my nickname was jack. melissa: john lonski. >> this brings attention to the fact that the whole campaign, a lot will be more about marketing, more about style. very little to do with substance. as much substance. melissa: i'm blinded by my hope hillary will call me. >> celebrity candidate. this is celebrity sweepstakes right? melissa: yeah. >> i will call your mother. oh, my god, stop my heart. this idea that somehow this is going to win her the white house, think she has serious problems.
2:05 pm
interesting that bill is out there defending her. she will have to defend herself. melissa: interesting. thanks guys. world's biggest hamburger chain wants to be lighter on its feet. mcdonald's is kicking off turn around plan that will cede it is simplified structure and focus more on customers. lauren simonetti joins us with details. what did they say? >> that is the turnaround plan we've been waiting for mcdonald's. we'll show awful screen what the new ceo, steve easterbrook spoke about on the call. look at that? am i putting something this boring up on the screen? yeah. that is the point. the company focusing on these three prongs if you will, growth brand excitement and unlocking financial value. fall asleep now, melissa. but on the conference call after his 23-minute video presentation he did say some things that were rather interesting. and some of them i will highlight here. first of all they're returning more of their restaurants to franchises. so 90% of the stores in the next
2:06 pm
three years will be franchises. that will return cash to shareholders. they're starting a post mates delivery service in new york city. customers like that. convenience. they spoke about ownership of an item, which meant to me that custom burger bars they're testing out in california, we'll see more of that. and finally a drive-through express board. so some of that spoke to me, really making changes about the food and customer service, to change how the company is operating because this is a restaurant that has had its sales down traffic down two years in a row. real quickly, if you pull up shares of competitors you can see some of them are not only higher, at all-time highs. back to you, melissa. melissa: lauren, thank you so much. jack is back to discuss along with bruce terkel of terkel brands. bruce, does that get you excited going into mcdonald's? >> what got me excited i'm on national tv i could have fallen during that recap. here is what makes no sense burger business is huge. danny meyer with shake shack.
2:07 pm
all the companies are doing fa nam mali. the mcdonald's is 900-pound gorilla that is actually a 900-pound gorilla. my metaphors, they can't figure out how to turn the battleship around. melissa: trying to up percentage on franchises. used to be 70 something. went to 80. they will try to get 90%. they want to off-load 3500 outlets. does that anything to do with how much trouble over protests and minimum wage you know what? we'll sell you business, you run it and worry about it? >> they're trying to shrink their corporate costs. that is pushing costs on to the franchise owners. what mcdonald's needs to do is shrink that menu by about half to cut the complications of it, to speed up the service. to reduce the food bill for the franchise owners. and they have to invest in better food. i think that they're customers who are willing to spend a little more are getting picked off by some gourmet burger
2:08 pm
chains we see around. leaves them with lower income and price-conscious customer. hard to make profits. melissa: this is iconic brand. i have little kids. they know apple. they know golden arches. they don't know the other fast-food chains. there is tremendous value not being unlocked. what advice would you give? >> first of all, it is all about french fries. give me salty greasy, hot french fries i'm there. melissa: you're right. >> stop with other stuff. stick to your core and make people happy. that is why they come in. that is why your kids go. you like to take them. melissa: all about the french fries. you're right. >> all about the french fries. thanks, guys. two gunmen are dead and a security guard is wounded after an attack outside of a controversial contest for cat toons of the prophet muhammad. this was the scene last night in texas as gunman opened fire. our own jonathan hunt is on the ground in garland texas. what is the status of the investigation right now? >> melissa, police say the
2:09 pm
investigation will go on for some time. it is still a busy crime scene here in garland. the car which the two shooters arrived is there. it is surrounded by bullet casings and evidence markers. up until a couple of hours ago, the bodies of the two shooters were still there covered by a blue tarp. they have now been moved. those shooters arrived here armed with assault rifles and wearing body armor, fortunately for everybody at that conference they were no match for one very alert cop. listen here. >> both of them had assault rifles came around the back of the car and started shooting at the police car. the police officer of that car, began returning fire and struck both men, taking them down. >> now as you mentioned, the two shooters appeared to be targeting a cartoon drawing competition in which contestants
2:10 pm
were drawing cartoons of the prophet muhammad. that physical depiction of the prophet considered to be blasphemy in the islamic religion melissa. melissa: jonathan, there is a second investigation going on right now too in arizona right? >> yeah. a second, very active investigation in phoenix, arizona. fbi agents and phoenix police have been searching through an apartment they believe that apartment was the home of the first suspect that they identified, elton simpson. 25 years old. they have also been looking at a couple of cars in that apartment complex. and "the washington post" is now reporting, melissa that the officials have identified the second shooter as 34-year-old nadir, simpson's roommate. melissa. melissa: jonathan, thank you very much. warren buffett delivers the blow to a fight for '15 movement. he says higher wages are not necessarily the answer.
2:11 pm
plus thousands of calfornians feel the earth move under their feet. the golden state rattled by two quakes just minutes apart. more "money" coming up. ♪
2:12 pm
[ male announcer ] whether it takes 200,000 parts ♪ ♪ 800,000 hours of supercomputing time 3 million lines of code, 40,000 sets of eyes, or a million sleepless nights. whether it's building the world's most advanced satellite, the space station, or the next leap in unmanned systems. at boeing, one thing never changes. our passion to make it real. ♪ ♪
2:13 pm
do you want to know how hard it can be to breathe with copd? it can feel like this. copd includes chronic bronchitis and emphysema. spiriva is a once-daily inhaled copd maintenance treatment that helps open my airways for a full 24 hours. spiriva helps me breathe easier. spiriva respimat does not replace rescue inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva respimat. discuss all medicines you take even eye drops. if your breathing suddenly worsens, your throat or tongue swells you get hives, vision changes or eye pain or problems passing urine stop taking spiriva respimat and call your doctor right away. side effects include sore throat cough, dry mouth and sinus infection. nothing can reverse copd. spiriva helps me breathe better. to learn about spiriva respimat slow-moving mist ask your doctor or visit spirivarespimat.com
2:14 pm
melissa: california rocked by two more earthquake northern and southern parts of the state were hit by separate quakes, measuring around 4.0 in magnitude. the first struck on sunday morning in the los angeles area. while the second was less than a mile away from san francisco bay no one was harmed. nothing damaged. california has three significant earthquakes in less than three weeks. warren buffett feeling wage rage. raising the minimum wage he says could have very serious consequences. really? here is what he told our very own liz claman. >> if you raise the minimum wage
2:15 pm
substantially, a lot of people would not have jobs. through the earned income tax credit you can accomplish the same thing, yet keep the jobs and reward work. melissa: john, jack, michael, are back with me. i was floored, heard him say this privately at off the record functions. i have been furious he wouldn't come out to say it to the public. he is saying it as matter of factually. i don't have problem with raising minimum wage. will cost a lot of jobs. jack hough. >> we had minimum wage and strong employment for a lost decades. let me just say that. warren buffett has a little bit of conflict of interest here. he run as company that employed 340,000 people. okay? melissa: he is, you're done. he is a staunch democrat. he has always supported president, hillary clinton. ier. >> haw. melissa, he runs a tons of businesses. he is liberal democrat. what is he deranged? is that what he is?
2:16 pm
>> real issue is lack of upward mobility. middle class are shrinking, stagnating. melissa: why is warren buffett saying this now though? let's keep discussion on point. >> money. free labor. melissa: minimum wage is -- >> if earned income tax credit pays part of payroll cost otherwise go to berkshire hathaway share hoeders. >> bills through the taxpayer through earned income tax credit. melissa: why is buff but saying this now. a -- warren buffett saying this now. a change of tune in the public. >> end of obama era. he is not trying to stay on the team this is redistributionist scheme. somebody is paying taxes to get the earned income tax credit. it doesn't really help with mobility. doesn't really help with a job that pays enough. >> worst combination, earned income tax credit, low minimum wage. that is free money growing to companies out of taxpayer pockets to pay forte roll costs.
2:17 pm
>> people have lace money to spend on goods and services and economy suffers. melissa: a supporter of hillary clinton. do the backstory on this michael? why is he coming out? i'm deeply suspicious. why is he saying this now? this is unpopular to all the people who like him. >> right. i can only speculate there is opening between obama and clinton. clinton is not really out there advocating for all these things yet. she will be soon. he is taking advantage between administrations so to speak to get his point out there. i assume he really believes this. melissa: i know he believes it. he said it privately when he said other things publicly in the past. he definitely believes it. i think it is interesting he decided to change his tune now. thank you very much, you're a good sport there, jack. modest gains for major averages. nicole petallides on floor of new york stock exchange. talk to me about the market today nicole. looking pretty good. >> it is. dow is up 65 points. dow, nasdaq, s&p all higher for month of may. we're tacking on to friday's
2:18 pm
gains. looks pretty good. retailers, rbc comes out with outperform rating on lululemon, american eagle and urban outfit is. they're all higher. they set price targets. they're all out today. great news. the loser of the year, abercrombie right? it is down 24%. guess what, they don't like this one. this one they put as an underperform. they put a $17 price target. it is at 21.58. they think it is moving further to the downside. better ones are getting better and loser will be under pressure. they did get rid of sex alized marketing, scantily-clad models. we'll see if that changes things. melissa: thank you very much, nicole. the newest princess is finally revealed. punch to cable companies, pay-per-view problems delaying the fight of the century. smart money on the way. >> you know the rules. no holding. no hitting below the belt. also you're both pretty old.
2:19 pm
calling this the fight of the century but only because your combined ages are 100. p [laughter] the real question that needs to be asked is "what is it that we can do that is impactful?" what the cloud enables is computing to empower cancer researchers. it used to take two weeks to sequence and analyze a genome; with the microsoft cloud we can analyze 100 per day. whatever i can do to help compute a cure for cancer, that's what i'd like to do.
2:20 pm
when a moment spontaneously turns romantic why pause to take a pill? and why stop what you're doing to find a bathroom? with cialis for daily use, you don't have to plan around either. it's the only daily tablet approved to treat erectile dysfunction so you can be ready anytime the moment is right. plus cialis treats the frustrating urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision or any symptoms of an allergic reaction stop taking cialis and get medical help right away. why pause the moment? ask your doctor about cialis for daily use.
2:21 pm
for a free 30-tablet trial go to cialis.com
2:22 pm
melissa: from the u.s. to every corner of the globe money is flying around the world starting in u.k. where the newest member of the royal family finally has a name. the newest child will be known as charlotte elizabeth, diana. likely in honor of her grandfather, prince charles and her mother elizabeth and princess diana. police confirmed that 101-year-old man has been pulled from the rubble of his home. he had been buried there more than a week.
2:23 pm
no one knows how he was able to survive. that is a miracle. landing in north korea where an nyu student has been detained. he is suspected of trying to enter the country illegally while visiting china. north korea says the u.s. resident is still under investigation. be sure to tune in tonight for back-to-back episodes of "strange inheritance." new tonight shark teeth week. i love that in the first episode jamie colby inherits a man who -- visit as man who inherit as ranch where he has valuable dinosaur fossils. 9:00 p.m. eastern only on fox business. call it the delay of the century. boxing fans enduring a fight of their own as pay-per-view problems held up the start of the mayweather-pacquiao fight by 45 minutes. here is jeff foster, sports reporter at "wall street journal." bruce terkel is back as well. jeff what happened? >> seems like they were overloaded with orders and
2:24 pm
requests. they wanted to start the fight at 11:15. didn't want to be fight that start as the midnight. all the cable companies were reporting problems, they delayed the start until at least midnight eastern time at least. melissa: bruce, how do you make something positive out of this? so much demand they couldn't get it up and running or couldn't work the cable? >> might as well play so much demand game because certainly the product didn't deliver. all those people tuned in for gladiator and got "dancing with the stars." guys moonwalking with oven mitts. what is that about? come on! melissa: that was bunch much jokes. others waited on time warner others went on line for free. meerkat and periscope hosted live streams of the event. is this future of sports. >> something they will have to address base this is obviously not going to make the people who put on the fight very happy you watch it this way. it should be noted though, that this is not great quality streaming you're watching here.
2:25 pm
you're basically you know, watching it in someone's living room filming television, so they could hear them talking all that. sort of like watching a bootlegged movie. but it is obviously copyright infringement. something they need to address. one person who was using periscope in the actual arena live from the fight. that is certainly not allowed. melissa: bruce, you can't beat technology. tough figure out a way to work with it and make it work for you. talk about people talking over it. there are a lot of shows like that commentary from comedians going on and on about whatever it is you're watching. that could be very funny. >> look at this way, nobody complains about the resolution on youtube. the way the product is delivered is unimportant to the consumer. so, yes it is a copyright infringement but as jeff said it was bad streaming but it was a bad product. i can fix that if i have a minute. this really gets me. i got to tell you. instead of making it winner-take-all, i'm sorry
2:26 pm
split the pot, make it winner-take-all. give loser like free buffet. then we'll have a fight worth selling. then worried about streaming because people would care about what they were paying for. melissa: that is true. that is a really good point. real carnage came before the match. did you guys see this? actor jaime foxx sang national anthem while beyonce and mariah carey sat on the bench. ♪ [laughter] hallelujah that it was over. it's a very difficult song although we are so critical of people when they get out there to try to do the national anthem. bruce terkel. spin this one for me. >> i can only spin it that he had more guts than the guys that got into the ring. it is an impossible song to
2:27 pm
sing. as you said, the best singers in the world were in the audience but hey if you streamed it you didn't pay for it, you got what you paid for. melissa: there you go. jokes have beyonce and mariah carey on the bench but we started jaime foxx? guys, thank you so much. >> thank you. melissa: the race for 2016 is in full swing. two candidates enter the race, another to announce tomorrow. obamacare doesn't seem to be going to plan. why most doctors are now seeing a surge in emergency room visits. more "money" and some answers coming up.
2:28 pm
2:29 pm
2:30 pm
melissa: the new candidates on the block, carly fiorina and dr. ben carson both entering the presidential race today. fiorina makes the first ceo to join the 2016 campaign. >> yes, i am running for president. i think i'm the best person for the job because i understand how the economy actually
2:31 pm
works. i understand how the world works. who is in it. i understand bureaucracies. that's what our federal government has become. a giant bloated unaccountable bureaucracy. byron a fox news contributor. dan. michael goodwin is back as well. what do you think about this? byron, she's positioning herself as the ceo who can manage the country back into its rightful place. i think we saw that movie. it didn't work out. >> we did. this is an appeal that's popular with republicans that you can run the government kind of like a business. obviously mitt romney made his business history. more of his case for being president than governor of massachusetts. that didn't work. and so, you know, right now fiorina has impressed a lot of people in iowa and in new hampshire. they listen to her. they come away positively inclined for her. which is good. she is currently in the third politics average of polls 14th in a
2:32 pm
14-candidate pool. melissa: she's obviously the only woman running on the republican side right now. that has to help. >> look i think it's fascinating that there is such a big field. it's very interesting. you have ben carson. an african-american surgeon. you have two cuban americans. marco rubio and ted cruz. you've got a woman. so you have a really diverse field. i think it's very interesting. i think it's for the republican party and good for the country to have so many qualifying candidates out there pedaling their ideas for what the president should be. melissa: you mentioned ben carson. let's listen to him. >> i'm not politically correct. and i'm probably never -- [applauding] >> i'm probably never going to be politically correct. because i'm not a politician. i don't want to be a politician. melissa: well, though he is running for president, though. i think by definition,
2:33 pm
if he gets the job, he is a politician. but we understand what he meant. >> ben carson is known as a conviction candidate. most of the other politicians people assume are trimming their beliefs to whatever they think their electorate wants to hear. ben carson is a guy who believes what he says. and people like that. and i especially like the idea that we now have a black republican in the race. ben carson is well-liked in black communities. and i think he's going to campaign and convey a message to them that really needs to be heard. needs to be heard by people who have been voting democratic all their life. pretty much out of habit. and i think ben carson is going to go out and talk to them about republican values. conservative values. in a way that i think will be very credible. because he's a very credible spokesman for his own beliefs. melissa: byron, that is a really interesting point. what do you think about that? >> it will be a very
2:34 pm
unconventional candidacy. if you listen to the half-hour speech today listening to carson is kind of like hearing a ted talk than a political address. he's talking about himself. he's talking about his values. he's very very vague in terms of what he would actually do if he were elected president. we're going to have to see how this goes in a competitive field. melissa: thanks guys. how will this shake up the political field? with this week's power index. and one person we see moving up the index again and again. marco rubio. >> oh yeah. he's riding high. still up there at number two. he and scott walker are sort of dwelling for dwelling for the chance to go against ted cruz. certainly rand paul would like to be part of that discussion. carly fiorina is clicking in there sixth place. she didn't move up this week. because she is punching
2:35 pm
way above her weight. to stay above boxing terminology. her poll numbers are low. if anybody needs a good launch it's her. melissa: you heard the conversation we had about ben carson. do you think he has a chance? you rank him ten. >> well, anybody has a chance. not really. not at this point. melissa: what would it take to crack higher? >> he has a problem. his problem that his foremost the paramount concern is national security. when you see stories like the one we see out of texas, you understand that's not going anywhere. that will intensify, if anything. four years ago, the big discussion among republicans was the economy. the big discussion was about obamacare. that would suit a candidate like ben carson. suit a candidate like fiorina. right now commander-in-chief is the most important qualification. as a retired surgeon
2:36 pm
that doesn't answer that question. melissa: so how does hillary clinton rank on that front with the rest of america? on one hand, you would say -- secretary of state, she has a lot of experience. >> yes. measured by minute. measured by minutes on the job, she has a lot of experience. but she has a lot of baggage too. the debacle in libya not just the raid in benghazi her choice to go into libya was a disaster. she'll have to deal with the president's policy. she has to vouch for that and differentiate herself. and she'll have her husband there with her all along saying uncool things. >> there you go. chris, thank you so much. few stories on our radar. national guard will beginning pulling out in baltimore. the city's mayor said it's finishing up its operations and preparing to exit. baltimore's the very wide curfew has been lifted. visits to the emergency room have increased under obamacare.
2:37 pm
three-quarters of er doctors have seen a surge in patients since obamacare took effect. that's according to new research from the american college of emergency medicine. and it's the opposite of what we were told would happen. and disney is moving its latest earnings release to tomorrow morning. that is out of respect for tech executive david goldberg who died suddenly over the weekend. the disney board joining his wife and fellow board member cheryl sandburg at his funeral. more weak growth on the horizon. why many believe that failed policies have led us into a lost decade. plus a new kind of home wrecker. tweets about facebook. comments. could be taking a toll on your marriage. at the end of the day it's all about money. ♪
2:38 pm
2:39 pm
melissa: i'm melissa francis with your fox business brief. cisco is replacing its chief executive. john chambers will step down this summer after 20 years on the job. he is going to be replaced by long-time sales executive chuck robin. chambers will become cisco's executive chairman instead. shares of the new york times surging today. that on reporting from our own charlie gasparino that bloomberg could be interested in acquiring the paper for $5 billion.
2:40 pm
bloomberg says, it is not commenting on the matter. executives from charter communications have started to reach out to timewarner cable to discuss a possible merger. reports say that charter is interested in pursuing a friendly deal and does not plan on attempting a hostile takeover. that is the latest from the fox business network giving you the power to prosper. ♪
2:41 pm
2:42 pm
♪ melissa: we have some breaking news right now. senior federal law enforcement officials identifying a second suspect in the garland texas shooting incident yesterday. as nadirsufi. they were roommates. the shoot-out occurred outside an event for a controversial contest that asked people to submit drawings of the prophet muhammad. despite years of massive stimulus, there is growing concern the economy is stalling out. peter barnes is in washington with this one. peter, not good news. peter: yeah, that's right melissa. back in 2009, president obama launched an 800 billion-dollar stimulus program saying that without it the us could end up like japan. president obama: we saw this happen in japan in the 1990s where they did not act boldly and swiftly enough and as a consequence they suffered what was called the lost decade. where essentially for the entire '90s, they did not see any
2:43 pm
significant economic growth. peter: well today, looking back the aour numbers the us has not suffered exactly what japan did. but you could say that even with the obama stimulus plan and all of the fed's stimulus it looks like we're chalking up and i pray our fox broadcasting cousins forgive me for this an american idled decade. the weak gdp growth of 0.2% makes it highly likely that growth for all of 2015 will remain at below 3%. the tenth year in a row of sub3% growth. the last nine years growth averaged 1.4% a year. the growth rate under president obama and his policies and the fed stimulus. that's compared to about 3% gdp growth each year on average before the recession going back to 1965. (?) according to scott real
2:44 pm
gdp is not running at 10% below. that long-run potential costing the economy more than $2 trillion a year in lost income. melissa. melissa: you'll have to pay a trademark fee for using that phrase. i won't repeat it because i don't want to pay it. >> we can cut a deal. the american idled network. >> look at the stock market performance. over the same period. we wanted to show this to you for contrast. the stock market is up 122% while the economy has been basically flat. economist john is back, along with jack how. (?) explain that to me. that's not supposed to happen. >> that's because you've been able to widen profit margins by keeping the lid on cost especially labor costs. that was taking place here. and the stock markets also helped out considerably by extraordinarily low interest rates. equities right now,
2:45 pm
dividend paying stocks face very little if any competition from money market funds with free interest rates. melissa: the phrase always went from you were an economist the market predicts six months ahead what the market will look like. let's let jack. >> the disparity shows that it's a lot easier for the fed to inflate the stock market than it is to inflate the economy. what i worry about is, this slow growth period that we've had, we've had that with a rip roaring stock market. the stock market gives you a wealth affect. they're willing to spend a little more money when they see the stock market up. what happens when the market stops moving up and that wealth effect goes away? melissa: great and terrifying points. >> it's an interesting point, usually with these types of gains in the stock market, the recovery by home values consumer spending should be doing a lot better. never mind a growth in jobs. it's relatively flat.
2:46 pm
melissa: the stock market dramatically outpacing the economy. what's the downside? >> the danger is for some unknown reason interest rates take off while economic growth remains relatively stagnant then stock prices will crash. melissa: americans haven't lost their taste for superheroes. avengers, a knockout debut at the office. pretty girls make pretty music. and sometimes that music gets leaked. you can never have too much money. ♪
2:47 pm
you're driving along, 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... boom!
2:48 pm
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.
2:49 pm
♪ melissa: whether it's on wall street or main street here's who is making money today including the new avengers sequel. the movie scoring the
2:50 pm
second best debut weekend of all time. it pulled in more than $190 million at the box office. that was still a disappointing number to some. some. many had expected the movie to have the biggest opening ever. they are blaming big sports events for diverting a lot of the attention. picky, picky. losing money. britney spears and iggy azalea, they have been working on a new song called "pretty girls." it just got leaked. they've been forced to release the song officially. already started playing on various radio stations. i don't know. also making money the la clippers. they knocked out the san antonio spurs at the very last minute. they now go to the second round of the nba playoffs against the rockettes. look at steve ballmer. he's so happy. (?) warren buffett's meeting continues in omaha. our very own liz claman has been catching up with the oracle of omaha
2:51 pm
himself. liz, i love watching this event. you're right there with warren. what did he say? liz: oh, my gosh. so much. and you all are going to get to hear it all. put this one in the record books, melissa. now you have some 40,000 people finally leaving town in omaha after spending the whole weekend here. it is official warren buffett has brought in more people for a single day's event than taylor swift and garth brooks. people come from all over the world. they swarm around him. they get their first chance to get close to him on saturday morning before he starts taking questions from shareholders during the meeting. they jump around him. yell for pictures. they want selfies. he walks among them. journalists, more than 100 internationally are pushing and shoving. fox business manages to get right next to him and talks to him about a host of issues. he goes all weekend long. yesterday he was at the jewelry company that berkshire hathaway owns. they have 80
2:52 pm
subsidiaries. all different companies. he played ping-pong against bill gates against the chinese olympic champion. a lot of lightheartedness. we spoke with him today. a special at 8:00 p.m. about immigration from the minimum wage to the problems with isis. the terror that's going on. and whether the us should really be negotiating with the iranians. listen to what he said. warren: well, we should be talking to them. what we should do with them is another question. but we should be willing to talk to anybody. but this is a very very dangerous world and it will be more dangerous if the iranians have nuclear weapons. liz: keep in mind that warren buffett owns an israeli company called iskar and he does not want israel under attack for a bunch of reasons. not just for financial and business reasons. he's adamant about the iranians not getting nuclear weapons. so that's just one of the many things we're
2:53 pm
talking to him about. why should you care what warren buffett thinks? he started as a little guy going door-to-door with family and friends to cobble together money to start what eventually became the world's third largest and most valuable publicly traded company. 8:00 p.m. eastern tonight on fox business, warren buffett's america. check it out. we'll show you things you've never seen before and never will at any other business meeting. melissa: it's amazing. he's the ultimate self-made man. he'll give you the secrets and tell you how. 8:00 p.m. eastern. tonight. thank you so much. love and social media. why you should put some careful thought into your next facebook post. at the end of the day, it's all about money and social media. ♪
2:54 pm
2:55 pm
2:56 pm
♪ >> some big news set to come out of las vegas this weekend. nothing to do with boxing. it is called the salt conference. an annual gathering known for being the biggest hedge fund
2:57 pm
conference of the year. it all kicks off tomorrow from the bellagio. charlie gasparino is there getting ready. he joins us now. charlie, what is the big talk so far? charlie: there is no big talk. it hasn't really started yet. melissa: well, that doesn't stop you. i'm sure you're in the lobby schmoozing with people rather at the bar. i'm sure you have your fanny pack on. are you telling me, you're just spending time there? are you just drinking getting out in the sun? don't admit that to our bosses. charlie: i'll hit the gym and the sauna. what else would i be doing on a work excursion? then i'm going to the bar. melissa: perfect. charlie: listen, i think it will be kind of interesting. i like this conference and i like it better than davos. it's usually better -- we'll see if they deliver this year obviously. but it's usually much more grounded in the markets and what's happening now. you know davos, as you know i covered it in the winter.
2:58 pm
30,000 feet. very sort of big issues. you know, very -- you know almost so big that it doesn't -- it lacks relevance to our -- to a lot of people. this is usually a little different. anthony scaramucci usually does a good job of bringing it home. and we'll see. we'll see. melissa: are you wearing the fanny pack? you got a picture of the fanny pack. are you wearing the fanny pack? charlie: i'm not wearing a fanny pack right now. as soon as i get off the phone, i'll be strapping it on. melissa: charlie gasparino thank you so much. talk to you soon. social media paving rocky road for relationships. one in seven married people consider divorce because of spouse's questionable activity on facebook or twitter. bruce and jack is back. facebook is the most dangerous, they say. >> if you're stupid enough to have an affair and stupid enough to
2:59 pm
talk about it on facebook, what do you expect? melissa: it's not even just that. it's people going on twitter and things like that and saying things their spouse doesn't like. married couples are fighting about this at least once a week. who are these people? >> i think one of the problems with facebook it doesn't allow old relationships to die a natural death. i got off of facebook. first of all it turns out i don't have enough friends. it was getting embarrassing for me. also it's good to let relationships die sometimes. melissa: bruce, how much time do you spend on social media, and how does your wife feel about it? >> i spend a lot of time uploading stuff about my business. my wife doesn't look or care. melissa: that was another thing. many many people knew their spouse's password. jack, do you know your spouse's password? >> more importantly does she know mine? melissa: you dodged. you didn't answer the question. >> i don't know her passwords for anything. i'm going to guess it's
3:00 pm
handsome husband. melissa: thank you. hope you're making money today. "countdown" starts now. >> hello everybody. i'm cheryl casone, i'm in for liz claman today. commercial drones are having a tough time shaking free of government regulation in this country. the military drones like the ones produced by north drummond are flying to new heights. we'll catch up with their executive of unmanned aircrafts about how drones are being used to search for victims in nepal's devastating earthquake. (?) the numbers don't lie. those were the words of new mcdonald's ceo steve easterbrook. that's why he announce a turnaround strategy for the world's largest fast food chain. saying mcdonald's needs to innovate more and bring back excitement. how investors have reacted so far today. not so well. and warren buffett certainly likes his daily fix of mcdonald's. and coca-cola. today, he and bill gates

703 Views

info Stream Only

Uploaded by TV Archive on