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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  July 23, 2015 3:00pm-4:01pm EDT

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i want to do what is right for the country not what's good for special interest groups that contribute that's appealing to people right now. someone who can stand up to special interest groups see what he has to say on border in laredo, texas, happening momentarily. liz claman will take you into it opinion >> here's what's not appealing to a lot of viewers near session lows right now. this as we hit the breaking news donald trump has, of course, arrived he's expected to address the media at any moment. our cameras will there arriving in laredo texas over an hour ago. he was originally scheduled to meet with local border patrol union but local union officials backed up but he'll tour the border as he arrives with a white baseball cap. texas visit bringing focused attention to the broken america system. this matters to businesses and stocks that you own.
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he began with this controversial comments during his presidential announcement dreys when he called most mexican illegal imrangts raceist and criminals. trump republican contenders blasting this trip. former texas governor calling the trump campaign a cancer on conservativism. comes hours after trump admitted that me doesn't feel he's being treated fairly by republican party, hi will consider an independent third party run for president. we've got the journalist to whom he made that comment. we've got all of the news covered including the fact that queer close to session lows the big etion day for corporate earnings this cycle dragging dow into the red. let's start the count down. great news in the battle immigration reform is laredo,
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texas, where the 90 square mile boiling hot town on texas border with mexico just saw a jump in population. most of it members of the press who have flown in to cover that. as you see we have a live podium picture. you can't see all of the press squished under that tent area. donald trump will arrive soon. he's of course presidential candidate and a billionaire who breezed into town on his private jet to talk turkey on immigration. as 2016 election creeps closer, businesses are pushing for looser images immigration laws and straying from party line and trump's hard line. hearted line that started when they call him criminal and rapist we welcome george alberto, gonzalez first hispanic attorney general served under president george w. bush from 2005 to 2007. you're sir texas born and of mexican decent i'm sure this story is of interest to you. how do you view what's going on
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with donald trump and all of the attention? >> you know, i don't blame the media for covering donald trump. obviously a colorful figure and polls indicate that his message does resonate with some people. but listen we're so far away from election, and i don't believe that his views represent majority of the republican party an they certainly don't represent in my judgment the views of an majority of americans in this country. so listen, i understand people want to cover it. colorful, he make news but i don't consider him a presidential candidate. >> comics so excited because they're getting higher ratings let's admits it here we have with a camera trained on it. it is a business story because immigration reform is of great interest to business. but can i look at you. i look at a your distinguished career and i look at what you were able to do as the son of immigrants from mexico at a real contradict tore at this nation.
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this is got to be a little disturbing and infuriating to you and a your relative and parents who have come from mexico. >> i think those words are a little too strong. for my vantage point it is odd. but i don't take it seriously. i republican really don't. i don't believe that donald trump views represent majority view of the republican party and not of the american people. we're so far away from election so maybe they don't have anything else to cover but i'm not overly concerned about it right now. >> i disagree -- i disagree with many of the things that he's said and things that he stands for. listen a free country people have -- everyone wants to run for president and everyone has their viewing. see what happens. >> you have to get attention somehow and as we wait i apologize two phrases when it cools to immigration that are both of certainly touch stones amnesty, and path to citizenship.
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no one can figure out the right way from where you stand, what is the solution here to an immigration reform package deal that we could live with and work with in this country all of us admit it viewers have immigrant blood in your veins, right? >> listen with respect to path to citizenship, most great majority of the people who come into this country unlawfully don't come here for citizenship but to provide per thelses or better life for thelses themselves and their faming and work here without deportation. better focus is to put thoadz who qualify in a some type of temporary legal status to work here and contribute to our economy. with respect to amnesty. i don't believe in amnesty those who have broke the laws have to pay a penalty and some fine. back taxes, and then we make the decision as to whether or not wy to contribute to our economy. >> something that ronde reagan
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pulled off in a form, correct? >> of course o everyone has different views like affirmative action what's your definition of amnesty if you look at the dictionary. >> letting them stay. >> i think that with respect to those who qualify -- congress can work out deals of that. maybe they go back after two or three years and pay a fine. maybe they could pay back tax but imperative in a post-9/11 world we know who is in this country and why their here, that they have in a legal status to do so. >> what will be the eventual candidate have to be on and their position here. real winner here? >> eventual candidate has to be a champion for impressive immigration reform. a permanent solution that can only be addressed by comprehensive legislation supported by congress and signed into law by the president of the united states. that provides a more comprehensive more permanent solution to this problem.
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of immigration -- >> i would love for you to stay just because we're waiting on what donald trump has to say. so perhaps your response is a thrill to have judge gonzalez in a fox business exclusive look a huge part of the controversy swirls around jobs and how any new policy will affect labor market and american economy standing by we have chris kansas secretary of state, he's had a hand in cracking immigration law on prefer level including that controversial one in arizona. requiring police to verify suspected illegal immigrant status when stopping them some portions were overturned. we have jonathan johnson joining us as well chairman of overstock and partnership for a new american economy. group of lawyers spoke on immigration reform. we need to mention too folks rupert rupert murdoch 21st century fox is one of the co-chair of that group and that group believes in yes, securing borders but
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simplifying the immigration process. welcome to you both. mister right off the bat you heard what judge gonzalez had to say he's a contradicting member to our society his parents were mexican immigrants. isn't there a way to figure this out instead of throwing around a the anger and hate and visit -- >> that the executive branch could adopt but refuses to do so. illegal immigrants made great contributionsly disagree with them. i think what he's describing that he favors is amnesty lets it legal aliens stay is most understand amnesty no matter the conditions. he says you know trump shouldn't be taken seriously or something like that. look, e you you look at polling data back 40 years, immigration as an issue probably with immigrations, are constantly in the top five issues or so.
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>> you know what i'll do look at polling data sir that shows that in the fast 12 years, no president wins without the hispanic vote. to bridge this gap and make them feel included maybe that they have to pay taxing and then get a fee and that is an option floated right now. >> you know, nobody wants i think nobody wants to be here illegally. problem with our system today is that we don't have a door that immigrants can come through legally. we spend all of this time talking about building a wall or a fence. wall and the fence can never be big enough if we with don't have a working door. if we get a working door i think we can build a wall or fence that worked and businesses need immigrants to be able to come here legally. not take jobs from american work rs but help create more jobs for american workers.
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>> crist group that mr. johnson is part of partnership of a new american economy has people like bill i'm talking business luminaries, michael bloomberg you've got bob of disney you have rupert murdoch form orally of microsoft on the board. business see a huge value in smart immigrants and a pathway to likes of what jonathan is talking about. why can we not get that pathway stricken or opened up rather? >> i would ask this question there are 30 million americans who are unemployed, employed but it mafngs a lot of that. we have to look at our u.s. citizens for business and jobs that need to be filled before we look at aliens so many say forget about u.s. citizens plant cheap labor abroad. first let's of course allow and have illegal immigration process that is faster. when somebody cools in legally
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you need to get that visa faster hiring more government agent it is to do the work. but you be, let's look at our own citizens first. 30 million that's a huge number. >> it is. and the job situation is not great. what you find is immigrants rushing to street corners to you know many of them taken advantage of because they're not legal. but jonathan you know, one could argue that they're doing the jobs that americans don't step up to. americans who are legal would rather take from the till. you know? only the dole, they take welfare. they take food stamps instead of a lower paying job where they're maybe upward mobility or opportunity down the line. they don't want to do it. >> i think there's two classes we need to talk about there's those liz that you're mentioning that are doing jobs that at least some americans don't want to do. but more importantly, there are best and brightest from around the world. >> let me interrupt you here sir because here comes donald trump
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in laredo, texas. [inaudible] >> how are you? >> back to new york -- [inaudible] >> i would like to introduce first the mayor to say a few words and then we were treated so nicely. we learned so much in such a quick period of time. but the mayor has done a fantastic -- yeah, mr. mayor. >> thank you so much. good afternoon ladies and gentlemen. i'm pete saenz from laredo, texas, excited to have donald trump here in laredo, texas provided us an opportunity to present to mr. trump and his entourage what laredo is all about. number one land port in the
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nation. we do laredo per se does 40% of the mexican trade laredo is known for transportation you can see big trucks behind the me -- very excited about that. but we have all of the oil, gas production in the county. and provides. and mr. trump has brought up certain issues, that immigration issue in particular. we at least i feel personally that immigration reform is required if needed. and the border area. we need to secure the border. but we also need other elements, obviously, under the immigration with that in mind, it is a pleasure to have mr. trump, the excitement that he brings is
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also very on the plus side for our city. we appreciate attention but webb that attention coming primarily through this gentleman here. >> thank you. >> well thank you very much for being here an amazing experience. mexico is booming absolutely booming and jesus, city manager and pete have done an amazing job right here. but a lot of what's happening here is because of the fact that mexico idoing so well. 's jt dog bend, yond wh anydy er thght,nd i n't ow ithat goofor the itedtate but it is good for mexico. anybody have any questions? >> yeah, i think winning hifng vote. thousands of mexican hispanics i think when it comes down. i don't know if you sought poll, but they did a poll in nevada, state of nevada, and i'm way ahead, and more importantly as far as i'm concerned i'm way,
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way ahead with the hispanics well into the 30s which i think second is like 11. so i have a great relationship. over the years thousands and thousands of hispanics have worked for me and now work for me, and the relationship is very good. >> go ahead -- [inaudible] >> how many people killed? [inaudible] rk [iib amany >> yeah. >> from all over the world. >> i agree with that. and they come through here but they come from all over the world. i agree with that. >> danger you keeping there's a danger but along the border is down. what danger are we talking about? >> danger with illegals what you're discussing but we have a tremendous danger on border the illegals coming in, yes, ma'am. >> any evidence to confirm your fears about mexico sending across the border?
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>> yes i have, i've heard it from a lot of different people. border patrol was the one that invieted me i think motion of you have that invitation we sent that border patrol fin invited me and then canceled they know that from the reason they invited me was because of the tremendous problem and tremendous crime and all of the things that you're talking about, so they invited me at the last moment we were virtually in the air and they said -- we can't get involved. i heard they got orders from washington. what evidence have you seen? >> we'll be showing you the evidence. [inaudible] we just landed and a lot of people at the airport and waving american flags in ifer pa of trump and what i'm doing and virtually everyone that we saw a great warm, i was surprised -- that there was such great warmth at the airport with all of the people that were there.
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one thing, chanting for me. >> against you? >> i didn't see them. >> what about the surprising part of the trip onth the boarder. : meeting mayor and a city manager jesus tremendous people doing a tremendous job. say a word. this man i'm going to steal him he's fantastic. city manager. >> thank you mr. trump. welcome everybody to the city of laredo, you know, this is one of the greatest cities on the board ire we're a vibrant city and mr. trump mentioned you know, traitd that we have here with mexico is this is where the rubber meets the road. you can see it right behind us. this is where all a of the trade comes through that mexico and a the united states have in common right here. and not only that but that is where it goes to the rest of the world. i tell you what, we wouldn't be where we are if it wasn't for the support of mayor and member rs of the city council that are
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also here with us, mr. counsel member advise, we are fortunate to have the support that they provide fuss in order for this city to be such a great city and number one in the import in the country. thank you very much. [inaudible] >> that's a federal issue, and we have our comments on that. >> what is your comment? >> we don't think that's necessary at this time. i think there's other ways that we can work together with the federal government. ting right now we have a process that we work together with border patrol, and everybody to be able to get these things done. the relationship that the city of laredo has with the federal government, with all a of the law enforcement agencies, is a tremendous one. thank you. not at all. different sections. but this is one section. different sections.
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>> actually do to change the illegal immigration -- >> one thing we have to do as citizen saying and mayor was saying there's a huge problem with the illegals coming through. and in this section it is a problem, and some sections it is a massive problem and you have to do -- you have to create, you have to make the people that come in, they have to be legal. very simple. [inaudible] >> you have to let people do their job. border patrols which by the way i see the unions are very much involved with the border patrols but you have to let them do their job. they want to do their job that's why they invited me i didn't come here. border patrol invited me, they want to be able to do their job. if they can't do their job, believe me they're unhappy. they want to be able to do their job. [inaudible] >> sections you have to have a law. absolutely. [inaudible] >> by the way, the wall will
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save you a tremendous amount a of money. but you absolutely there are areas and you have to have a wall. [inaudible] who? >> direct cartel leader. >> i don't know anything about it. >> third party gop -- [inaudible] >> i'm a republican, i'm a conservative, i'm running i'm in first place, by a lot. it seems according to all of the polls i want to run as a republican, i think i'll get the nomination. we'll see soon enough. but i think i'll get the nomination. the best way to win is for me to get the nomination and run probably against hillary. hillary is the -- look easily she's the worst secretary of state in the history of our country. she's going to be beaten. and i'm the one to beat her, and i will take jobs back. reason i won with the hispanic vote and i win all over with this hispanic vote because they know ale take jobs back from
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china and jobs back from japan and you know the hispanics are going to get jobs and they're going to love trump and they already do. [inaudible] >> they were in something because press misinterprets. >> do with the 11 million undocumented immigrants. >> first thing we have to do is strengthen borders after that we have plenty of time to talk about it. thank you very much. thank you everybody. [inaudible] thank you. >> donald trump taking the microphone and definitely not disappointing anybody hoping for him to once again say dramatic things when challenged by somebody in the audience. somebody in the media who said hold on, hold on shooting pulled off by an american citizen. he said -- killers come from all over the world. he said i do agree with with
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you. it wasn't a mexican. it, of course, was a kuwaiti born person a legal immigrant here. he said mexico is booming. and he also said there is still great danger from it legals. we bring back chris kovac, kansas secretary of state and overstock chairman. what was a native with you, chris? >> couple of things, one is he did point out when pressed that he has -- doing well in polling with hispanic voters and people who respond to the survey. and there's a big myth in the media that you have to be for amnesty and for lack of enforce the to wing the hispanic vote and evidence says otherwise. if you look at like proposition 200 that passed in arizona a few years back, nonwhite voters and especially hispanic voters voted overwhelmingly in favor of that, well about 50/50 but still a large percent in favor of it.
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so you see that support for enforcing our laws is pretty good among hifng hispanic vote ergs but you need to have walls on the border and he wasn't backing down on that. i think that resonates with americans you full that issue. people are very in favor of a wall. >> jonathan what did you think of what he said? immigration is a big issue and getting this attention. i think focuses first on the qawl is a problem. if we don't figure out how to create a door that immigrants can come through legally we can build a wall with a moon and it won't be tall enough. and this has to be a comprehensive solution. it can't be just a wall solution. it can't be just a door solution. it needs to be both. and so the continual focus on a wall i think is misplaced. >> you know, i think that you have to look at the fact that that discussion of a wall and the border itself is so pun
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believably long and unwielding it would be incredibly difficult. when he says i'll bring back jobs from china and japan. i need to hear whether donald trump or o any candidate, how, what's the plan? what you want to do, chris is really something that -- has a solid idea here and we haven't heard much of that. >> i'll agree with you there absolutely. i would love to know whether he's getting jobs back and needs to get into greater detail on immigration wise. he stopped the interview the when he was asked about amnesty. you know i would like to hear in favor of either that would be a great way to fen sure legal aliens get jobs that we have in america right now fur states make it mandatory. need to make it mandatory nation wide. >> jonathan as a businessman what's your final statement about this for people watching saying oh, illegal immigrants take our jobs. you have experience with hiring immigrants. what do you say to that?
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>> our experience is when we hire immigrants in particularly high-tech, high skilled immigrants, they're not taking jobs, they're creating jobs. for every one we hire wiping up creating jobs for two, three, four, americans, so that's what i would like to hear. let's finding a way to bring the best and brightest entrepreneurs who want to create jobs and make a legal path for them to enter the country. >> we want to thank both of you a lively discussion with a lively back drop of mr. trump in laredo, texas, great to have you both so much. we were as donald trump was speaking noticing that the dow jones industrial hilt essential lows we touched them and then brought them back. that's why we put this lower drop down menu you can see what happened there. touched it and then came back up it but couple of names drags us down here. manufacturing you have american express and you've got
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caterpillar they have missing on levels or cutting down on four-year forecast. you also have the fact that we got a good economic number here. first time jobless claims, lowest since 1973 but could be good news and people say now feds really serious about raising rates in september because maybe the dates are looking better an better. much more on donald trump in a few minutes plus john kerry working to sell his iran nuclear deal to congress as defense secretary ash carter trying hard to do the same in israel an saudi arabia. what are the saudis really thinking as they sit there with ash carter former u.s. ambassador knows. we have him next in a fox business exclusive. you do all this research on the perfect car. gas mileage , horse power... torque ratios.
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now you look at oil right this second. this morning oil broke of 50 a barrel. oil o now broke below 49 a barrel. this price and what we saw for the settlement was lowest since late march as you can see which you can't so i will tell you exactly what it is. oil at the moment we do have it. okay. 48.73 a barrel going lower and lower and lower. i find that very interesting and we do, of course, still have issue, supply, outpacing demand simple as that. take a look at live pictures right now. woman of donald trump called worst secretary of state in the history of the country. there's hillary clinton brushing that off in greensville, south carolina on her economic vision as she call thes it to help residents of the state get ahead. she just mentioned immigration reform and promised to fight for
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a comprehensive solution which she said will benefit immigrants and every else. she does advocate a path to citizenship as it is called watch any comments out of hillary clinton's comments that may make news. members of congress may graze but they have had another candidate john kerry on capitol hill today testifying before the senate foreign relations committee about the pending deal only viable option to a peaceful resolution with iran. now how do you convince israel and saudi arabia? we join right now with in a fox business exclusive former ambassador in saudi arabia and a author of desert diplomat following 9/11, ambassador robert jordan. welcome. you know the saudis. you know saudis. what do they think of this iran nuclear deal? >> well, they've been afraid of a grand bargain with iran for
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several years now. and this gives some credence to their concerns they're saying nice things to carter who just met with them claiming that they're roughly supportive of the agreement. but he a little says they have reservations about details but these are the same details that congress is having a problem with as well. namely the intrusiveness of the inspections that timing, the enforcement mechanism, and the lifting of sanctions so these are fund mental issues and they remane concerned about it and particularly concerned that if iran may now as soon as they receive their 150 billion dollar signing bonus could become a real power house in the region. >> i made that signing bonus then that's a good one. i think it is lack of intrusive inspections you know that gives them a jump on many, many days jump on inspectors actually hitting the facility and checking things out. but also i think that --
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some of the issues that saudis may have reported side deal which nobody is really seeing. and everybody is wondering what's in there do you think what could be in the side deal? >> well reporting is they relate to a military installation, which is rumored to have been one of the real nuclear developments sites for the iran and then pmd issue which is possible military dimensions of their past research. this is something to the iaea asked about quite some time ago and a iranians have not responded sounds as if this is the response to the iaea on those issues but it raises question as to what's in documents that are not made public. >> we should mention there's validity.
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let's get to the oil portion of all of this. this is an oil focused economy. in iran how will it compare? how will it destabilize if at all blafns oil in the middle east or countries like saudi arabia and other numbers. >> it is going to have an impact less remember, though, if iran's oil market has been severely curtailed because of the sanctions. so they've actually developed a pretty strong economy to balance that out which the saudis have not. but as soon as sanctions are lifted iran would be able to export almost immediately 200, 400 barrels day. they're rumored to have tens of millions of storage as we speak. within a year or two they'll be able to ramp up at least another million barrels a day. this will be dumped on world market right now with 2 million barrels day and excess capacity. access production, so i think it
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is going to further have a depressing influence on the price of oil particularly if a demand remains relatively flat. >> not as much for their oil and maybe curtail money that they're bringing in. either way it is going to be a lot more supply on the majority. brings it down u.s. consumers pay less. struggling for silver lightning here ambassador thank you so much. we appreciate you joining us. jordan is former u.s. ambassador to saudi arabia in a fox business exclusive we have the closing bell 24 munns way. a huge story, fast food workers pushing for a pay increase. they've called for $15 an a hour and getting it in new york in just a couple of years how will businesses that hire minimum wage workers really swallow this situation? like dunkin' donuts we've got the ceo of duncan brands he runs more franchises in new york city
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than mcdonald's and starbucks combined run for the border threatening to do more than just shut the border down he's making noises about a third party run. in fact, he was direct about it journalist who broke o the story. we've got mr. cusack exclusively what did donald trump say in the last several hours about that? wait until you what are which democratic candidate donald trump says he feels that kingship with. this may surprise you. count down full of surprises coming right back.
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it six and a half fluctuating there. we have a tough day on wall street as there's a lot of red on the screen. russell 2,000 it is down 11 points or more than a percent. that's really biggest percentage loser of the major indices right now. transports is hammered down about 2 percentage points. amazon and at&t has numbers. so donald trump making waves yondz the border today. we showed you what he was doing in laredo, texas, but he told the hill that he will, quote, consider launching third house run if the republican nacial him during the 2016 primaries. what does this mean you have him to say it. everyone has asked him over and over again. but you editor and chief and cowriter at the hill were able to get himg to say maybely take it to an independent race here and a he also joined by chris
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former aid to democrat senator chuck schumer watching minute by minute. to you first bob, was he serious or flippant when he said he would make a bid for a independent run if republicans are really vicious to him? >> yeah, you know, he was quite serious, he's upset at the republican national committee they've gone after him couple of times he's gone after rnc. so i think that he senses and this is as you said, the first time this is further furthest he's gone to say not treated right to try to rig the system. remeer dald ump st ts weeks at theollseforhe was ed wh jebushnd n he's winning a lot of these national polls so he's worried about collusion from the establishment republicans he was here. >> so he can't get mad at the media look at this crush of laredo, texas, i know chris you were watching. do you have the quotelet show what he said to the hill and chris, i want you to comments on
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it.ed would you do we have a quote. put it up there and see what he said. i have to see how i'm treated by republicans absolutely if they're not fair. that would be a factor. chris, what does that do if he runs as independent? >> first of all any doubt that if he loses he will say he was treated unfairly. so get ready for third party trump. and third party trump nes no chance at the white house for the gop. i think he knows that. i also think this is a performance art piece too. joaquin phoenix has nothing on donald trump is he really running for president or seeking mother attention? look at the hat he was wearing today we have a rule in senator schumer office no singing, no dancing, no hats. breaks all of the rules. >> we wore white baseball hat make america great again. he saw this in the interview which i found very interesting with you guys at the hill about
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about -- the democrat that he actually feels kinship with. believe it or not if we put up the quote -- it saying you know the funniest thing about yes bernie canted we agree on trade we know country is ripped off difference is i can do something about it and he can never negotiate with china. what do you think when he said that about senator sanders? >> they're plain spoken, they're not mouth you know where bernie sanders stands and donald trump stansdz. trump is upstart. sanders long shots still i would say. but overall a it is interesting that he feels a little kinship with bernie. forts chris does that do anything hurt or help him? >> i think it is exactly right. you know, we have two guys out there telling it like it is, and at this stage in the game, people are turned on to that. that's why bernie is getting big
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crowds and donald is seeing bump in numbers. you know what he's thinking at all times same for bernie sanders bernie at least is open it be being bated. >> that and the joaquin phoenix reference. great to see both of you guys. bob cusack he got the strategist age radio host keep it later right here on fox business for more presidential politics. lew is speaking to republican candidates senator rand paul 7 p.m. eastern on lew. closing bell 14 minutes away. dunkin' donuts fighting city hall in new york city that's one big city hall to fight first over styrofoam cups now minimum wage. ceo lets us in only the plan to stay successful. what does the eventual hike to $15 ab hour in minimum wage in
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new york city mean for duncan. your corner duncan? that's next on count down.
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>> now when you hear that cities vote to raise minimum wage like new york city just did for fast food workers raised it to $15 an hour everyone say this is is going to cause shut down of small businesseses going to hurt a lot of people, well there's one company that is watching this extremely closely and the fast food category they're duncan brand. 576 locations in new york city alone. that is more than starbucks and mcdonald's combined. so how does the coffee and donut chain really plan to deal with raising minimum wage and what kind of impact is did you duncat in particular. let's ask ceo nigel travis are you freaked out, worried about this. can you handle it $15 an hour.
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i'm not being flippant here supposed to go to the high of the year 2018. >> so liz good afternoon. and you know, it's a challenge we're in a business with plenty of challenge but key factses that people to know is that this is a 71% increase in a minimum wage in three years. i think even in the days of high inflation back in the 70s people weren't getting in that kind of increase and i'm focused on franchise economics, franchise relationships, franchisees are concerned about it but the governor set up a wages board to the legislature in albany, he ignored the national restaurant association, ignored our franchisees with a small business people bringing jobs to new york, and most of all, i think that people who are going to be hurt by this are going to be young people yowt unemployment rate 16 to 19 in
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new york state is, is 21%. >> so -- are you saying that -- that your franchise owned locations and they're all of them 576 in new york city saying that they'll have to lay off people or stop hiring i want to know effect of higher minimum wage? >> okay, so if this goes forward, what's going to happen is we're going to have to mitigate. we may be all in a better situation than other o chains out there. but the thing we do not like is that they've focused on fast food focus on franchise but answer to your question is part of the litigation will be price increases. part of it will be close reduction in goods. but part of it will be we will have to pointed ways of getting increase level productivity and most was minimum wage that we pay is 16 to 19-year-olds this is a industry that trains americans. we're the people who get folks started in work we're one who is
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teach them great habits. we teach them about customer service, et cetera they're going to suffer. so this makes no sense. so we're very concerned about it. but like everything working with our franchisees to respond. >> you have great people running franchises but do you suspect some will eventually have to close because of the hike in minimum wage? >> we will do everything to avoid that we're biggest retailer in new york which was what you said earlier. we want to keep growing, as i think we talked many times before. we have a -- real opportunity to grow across america. but perhaps we will grow in places without the kind of minimum wage hike it is that we're seeing here. plenty of opportunity -- >> you guys have been pretty -- pretty ingenious i want to explain one of the things you've done you're going for the afternoon donut crowd not just for break with fast anymore.
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what i have is chips ahoy donut i put them on any script upside down because i thought people would say you're getting your germs all over them. but tell me how this rollout has gone for you guys because this will bring in more traffic in the afternoon. correct? >> well, we've gone very well. we've with had chips ahoy and oreo donut and iced coffee vfer well. part of our limited it time offers we try to give people funnel products like the one you're holding up. new ideas like this for the rest of the year so it has gone very well. but when i look at the culture i'm delighted beverages were up. coffee best in 2011 in terms of growth. breakfast sandwiches doing great and donut -- we felt we're all on cylinders. across america. >> guess what over 52 weeks
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stock has grown too up 28%. nigel great to have you thank you. check back with you on how this develops because it is not until 2020 that -- 2018 that we sue the full $15 an hour but serious concerns there. we have the closing bell ringing in three minutes taming the scary market with 54 reporting in the s&p. guess what, the biggest issue here is what is happening for the full year of volatility? our next guest has a plan to navigate the action we have a tough market day today what's beginning on? >> i have a plan. survive. [laughter] >> exactly. >> numbers that have come out all have been wonderfully beating the estimates. but 12eu789s as we both know estimates that have been pushed way down from just a couple of quarters ago liz so united technology. their business is okay in europe, china and then in the u.s. >> where else, though?
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so >> they have a one day worse decline since 9/11, 2001. >> andfor lousy performance but a reflection in the fact that we've got not very good economic circumstances. >> management, management, management what do you mean by that? >> when we were talking earlier with some of the people you said when you look at investing in this environment three most important things i said it is like real estate location, location, location it is management, management, management warren buffett the same. >> going in there. heck duncan has a great product. >> say yes but they pick the product. pick people who make the product and district the product how they do it and how much money they make. he has a plan, for navigating what is a pretty good headwind for the company understating. >> smart man. >> smart guy exactly. plenty of people out there with the competition weren't that smart.
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so that's part of the problem if you invest in -- >> don't you agree people have to tune out the oldies pointed at apple even though they sold 94 points but tune that out and go with great companies. what are companies you're looking at right now that you would say put hem in your portfolio chill out, it will be fine. >> start with apple. because as you said it is 13 times earnings. >> cheap by the way folks. t. they pay one and a half percent dividend growing and incentive to people to do new product and new things so you have microsoft today with itself in the cloud. you have jaime and these are great investment managements. >> also the figure of what's beginning on in commodity world. you don't say gold finally broke the tenth losing streak but now oil is below 49 a barrel. interesting times isn't it? >> we've talked about china over
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last decade. china was marginal producer for commodity. consumer -- >> exactly. so what's happening is major producer has said no, and it just continues to feed on its own. people get the story. probably some interesting in speculation. but reality is with chinese focused on interior not on doing ten years ago. so it is a new world if you're a manager in a successful manager of investment you have to change. >> what last question. >> one last answer. >> september comes and janet yellen says i've said it many times i have to do it and -- what do people think? >> she says what she's going to do and then she does it. : not a bad thing? >> no just the opposite if she doesn't do it there's a problem. >> mike -- great to have the you. [laughter] that was fast. : two minutes left that's why we're fast we appreciate you being here from the company that
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will do it for count down of the closing bell. david and melissa lots of after the bell earnings coming up. >> yeah, huge, huge hour. thank you very much liz. a very big hour here on fox business, in fact, this is busiest day of earning season so far. >> we have 336 companies reporting today in just minutes. we're going to bring you the latest on some of the biggest names in that group amazon, starbucks at&t, visa pandora to name a few. >> we can't forget donald trump. the 2016 gop candidate taking his immigration talk to the border. he's there and he is not going to shed. >> nice hat we're live in laredo, texas, for his news conference as he threatens a third party run for the white house. >> a very big day for markets a down day for stocks here's a look at the major averages at the close. the dow ending right now near the session lows although it has come off of that 140 down mark but we should mention and
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emphasize that the volume today is very heavy third straight of down notes we have heavy volume. >> check out oil unable to find bottom ending now a percent below 49 a barrel that is huge. >> buckle a busy hour as closing bell sounding on wall street. markets wait for tomorrow. here's everything that you need to know. donald trump speaking in laredo, texas. let's listen in. >> we'll go back to the new york. the press has been amazing. turn out of press is incredible. people realize the problem we have will legal immigration. it will be solved. it will be fixed. this group will do such a job. if they're allowed to do their job. there is no doubt anybody's mind taken care of. >> don't you think you hold apology to all the hispanic-americans? >> by the way, such a

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