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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  September 1, 2016 3:00pm-4:01pm EDT

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close. we will be following this and the latest reaction to donald trump's immigration speech. at 4:00 pm eastern i hope to see you there. hope to see you on foxbusiness, lou dobbs tonight at 7:00 pm on this channel. cheryl casone he with liz claman right now. cheryl: we will see you one day after confirming he plans to build a wall, he plans to rebuild the american military when he becomes commander in chief, the billionaire businessman making comments at the american legion convention and could a battleground state of ohio. this comes on the same day fox news poll shows the race for president against hillary clinton is a dead heat nationally. kevin paul scott joining me to sort through the polls, the latest visit to mexico and
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hillary continuing email scandal and is the epipen ceo the new pharma row? the latest face of corporate greed between the report says mylan executives jacked up prices of the life-saving drug to line their own pockets, the ceo is here to talk about skyrocketing drug prices in a foxbusiness exclusive interview. wall street the first trading day of what is usually the first trading month of the year, the nasdaq in the green ahead of the all-important august jobs report. and florida is bracing for hermine and space x's explosive setback and a bitter war of words between two billionaire blowhards, donald trump and mark cuban. an hour to the closing bell, cheryl casone he in for liz claman.
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ahead of tomorrow at highly anticipated jobs report the major averages next, the dow off the lows of the session. down 11, the first trading day of the month of september. waiting to see where market end the first day of the month, but gold did rebound to finish higher after a fall in us manufacturing. also looking at car sales, have car sales at the top? major us auto sales not going to match record sales of 2015. and ford, 4.8%. chrysler reporting sales up 4% from a year ago. general motors on the screen, both of those stocks on the
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downside. we watch those numbers to the closing bell 48 minutes to go. take a look at this, the largest soupmaker reported smaller than expected profit for its fourth-quarter. and higher costs. seems to have backfired, refrigerated juice and carrot business follow sales numbers, share the campbell soup $56.82. one day after mister trump's highly anticipated immigration speech the race for the white house looking a little brighter for the republican nominee. trump stumping in the buckeye state, heading the american legion national convention before hosting a rally in wilmington. all of this as a new fox news poll shows mister trump putting clinton's lead to two, validating comments by the rnc
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chairman that could gain lost ground. we have blake berman following all the development, how polls are changing. >> you saw it there, donald trump down two according to the latest fox news poll, a big speech last night and after his rockets immigration speech he has made a few more on cores on this day, trump spoke to the national convention in ohio. after that he held a very short rally of his own in the southwestern part of the swing state and there he continues to push one of his biggest campaign promises. >> we are going to build that wall. that wall will go up. that wall, mexico will pay for the wall come a we will stop drugs from coming in, we have got to stop the drugs from pouring into our states. >> despite trump firming up his toughest immigration stances,
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trump was asked by the conservative talk show host lauren graham if there was any softening in his plan, trump use that term last week. trump did not shy away from it at all. he said, quote, we have gotten a lot of people in this country that you can't have and those people will make a decision. and you will see their is quite a bit of softening. trump was referring to millions of undocumented families who have been otherwise law-abiding residents, he is making the argument he is putting america first, also being humane. democrats last night and today calling his speech from arizona his darkest. cheryl: he is losing key hispanic support over those comments last night. we will talk about that later in the show. let's get back to your markets.
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take a look at this. september, historically september is the worst month for the markets, but it is mixed right now but us stocks are falling, leading declines in financial and energy sectors, the energy stocks, energy, tumbling oil prices, the sharpest weekly slide january falling on a growing let in stockpiles and then you have this, jobless claims numbers at 263,000 versus the estimate of 265,000. what can we expect from tomorrow's august jobs number? let's get to the floor show, traitor that the stock exchange, cme group and nymex, i was looking at the future is here, 27% probability that we will see a said rate hike, could the august report change that?
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>> i don't think so. they have a lot to deal with. even if the august reporters blowout they will change their calculus for future meetings but i don't think what we will see in the september meeting, that is already baked into the market, baked into what they have been saying, and what officials job owning the market and the the futures pick up later in the year and in 2017 and what happens today, the defense calculus, productivity and cost figures, productivity continues to shrink, that is something they are worried about and trying to get ahead of. you see that on the commentary, they may raise interest rates sooner than december, there are three more this year. they may do it before december is unit labor costs, it is shrinking, stanley fisher -- it could be a problem for the
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broader economy and that is when you get deflation that gets out of their control. trish: they have the dual mandate, also monetary policy. the dollar is down 3% for the year but we are seeing a lot of analysts, not only strengthening but getting stronger through the end of the year. that pressure, it pressures the us economy from an export standpoint. >> it is not a good economic story. the rest of the world is in cut mode for rates, our said last week in jackson hole, said they want to raise rates and want to get this economy normalized. it isn't necessarily going to happen. december is a key month. could they go in december? it is likely if they are going to go at all. job numbers haven't been the issue. we have seen steady job growth, and right now the real issue is
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going to be inflation, when is that going to be negatively affecting the economy? right now it hasn't had that drag on the economy so we can keep rates where they are and all of a sudden we get to 2017, will they go? i don't think they will initially in 2016, 2017 maybe half as well. cheryl: janet yellen and stanley center have hinted something could happen. we shall see. let's get back to this inventory we have on the crude supply buildup, we are seeing more pressure on oil and natural gas this week, hurrying the energy sector turning the stock side. what is your analysis on the oil contract side q >> a week ago we were talking about it was coming to lower levels. that is priced into the market and at this point we start to see a reversal of crude oil and
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back up. the lowest, $40, head backup and some things, getting rid of that inventory, we won't have as much supply around the marketplace as we did the whole summer, starting to cut back, lower costs, lower price for crude oil, not as much motivation to put as much crude oil on the market. it will correct itself. we don't have much lower to go. trish: we will see what happens, donald trump says we will have more domestic energy production. gentlemen, thank you, appreciate your commentary. we are watching the markets, 15 minutes to go, the august jobs report right here on foxbusiness at 8:00 eastern time. maria bartiroma absolutely jobs session each and every week day beginning at 6 am eastern, we will be there tomorrow morning as the big number crosses.
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right here on countdown tomorrow labor secretary perez will be here live at 3:00 pm eastern time talking all things jobs on labor day weekend. you don't want to miss that interview. let's look at your markets, the dow is down 30 points. we were down triple digits, the market changed in a day and a lot can change in 20 minutes. we are watching the weather especially what is happening in florida, in 2005, hurricane wilma made landfall in florida. now that is going to change in the next few hours which we expect tropical storm come in now hurricane hermine at hurricane status, florida planning for the worst. we will be monitoring this at the top of the hour and talking about iran. the iran deal with controversial enough at the time but then we find out about a possible ransom payment. now there is another top-secret deal bombshell that has come to light today. the latest details on that coming up next on countdown. what powers the digital world? communication.
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cheryl: two major breaking news events in the state of florida. first we bring you an update, from affiliate w svn, live news conference happening right now. we are just learning moments ago
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that florida has found the first local mosquito with the zika virus was there has been local transmission, several cases in florida but this is the first local transmission, they trapped some mosquitoes, the gentleman was saying in the commercial break and those are positive. this is crucial because it is a small area in miami beach where mosquitoes were trapped and this will intensify and hasten more urgency of trying to deal with the zika virus and the spread of it in particular in florida. the florida the permit of health, 47 cases of the cut in people who have contracted it in a small area in miami where we are taking this press conference from. they have not found any infected mosquitoes. now we have the other issue florida is facing on the other side. this is what we are now learning from the national hurricane center officially upgraded tropical storm hermine to a
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hurricane, now a category one hurricane. we are learning oil companies are shutting down operations in the gulf coast as this hurricane is making its way towards the gulf coast of florida. you are looking at life satellite and the projected track of now hurricane hermine. you have ten offshore oil and gas platforms evacuated right now, 22% of gulf oil production has been shut down ahead of it. 350,000 barrels per day on a day we got up production rise in the inventory numbers. you have residents on the gulf coast bracing for the storm, expected to bring heavy winds and flooding rains into that region and hermine believe it to make landfall later tonight. this is their first landfall for a hurricane in 11 years, wilma was the last major hurricane until 2005, wilma is going to be
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the last one to make landfall it looks like hermine is the current heard from the minute hurricane that will make landfall in florida. two breaking news events out of florida. remember this video? prisoners being released by iran right after the us coordinated with other world powers to arrange a $400 million payment. the state department admitted it was used as leverage for the release of those captives. this as an explosive report today suggests the us government and negotiating partners secretly agreed to allow iran to skirt restrictions included in its nuclear agreement and the country could meet the deadline to start receiving relief from economic sanctions was the white house denying these allegations. stephen yates is former deputy assistant for the national security, former vice president dick cheney joins us now with what he believes the fallout could be for the white house. the white house seeing it move along, that is their stance but
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they are saying there was -- did not break any rules but looks from this report the us and their partners change the rules ahead of the sign off. >> there is a concern here goalposts were being moved, verification and compliance are the hardest parts of any proliferation agreement and the most vital to too many people, a deal is a deal and diplomacy around it is all that matters to them. the obama administration has emphasized, if you care about potential of nuclear iran you need to care more about compliance and this demonstrated weakness in compliance is great concern, a think tank report but clearly questions have to be answered about how they are relaxing on standards, they are opening the floodgates on benefits flowing to iran already. trish: the report that came out
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today, the joint comprehensive plan of action. they are saying nuclear stocks were not in accordance with those limits, in the face of what that agency was supposed to do. and not treat them as exemptions we would not have relationship with iran we had today. what is the motivation for the white house to make sure the relationship is in place? >> the white house invested a lot politically and strategically on the idea this deal was going to work. the deal will recalibrate the entire approach to the broader middle east. the problem is when you get into implementation, fact on the ground in the deal. in reality, iran hasn't intended to meet these standards. instead of saying a
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comprehensive agreement and a couple technicalities being met. and brushed under the rug and doing what it is supposed to do. this low enriched uranium, the fact they are falling back on implementation should reduce confidence. trish: add to the fact of another irani an american being arrested in iran after that ransom payment. congress is going to pick this up when they come back. thank you for the commentary. appreciate it. we want to give you a shot of the market. first trading day of the month, the dow 30, walmart leading the way, nike right behind it was walmart rallying as it announces its holloway layaway plan, biggest retailer hoping to capitalize on strong toy sales
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driven by star wars products. layaway starts tomorrow. walmart announcing it is cutting 7000 jobs, stock is up almost 2%. and foxbusiness is going out to the country, to the farm. the super bowl of the agricultural industry, jeff flock will show you the cool new tractors but can farmers afford them? that and more on countdown, stay with us. there's no one road out there. no one surface... no one speed... no one way of driving on each and every road. but there is one car that can conquer them all. the mercedes-benz c-class. five driving modes let you customize the steering, shift points, and suspension to fit the mood you're in...
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♪ cheryl: war of words between donald trump and his old friend mark cuban spilling on to social media. dallas maverick owner took shots at candidate throughout his speech last night on twitter but one of trump's biggest supporters was not having it. joining us now, our guy, he's back from d.c., charlie gasparino. >> i did not get this in d.c. cheryl: you did. >> let me give credit where credit is due, my producer got the story.
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i called up cuban after, you know, after last night's tirade. he went on a tirade during donald trump's speech which was pretty controversial. point out donald trump is narrowing the gap between he and hillary clinton in the national polls. so, you know, a lot of people think that mark is feeling a little heat now. mark and donald were friends. now mark is clearly in hillary clinton's side, as we pointed out he may be a fill-in for trump in the debate prep coming up for the september debate. be that as it may, the thing got pretty nasty. first he starts tweeting about trump. michael cohen, a trump supporter, his lawyer, starting getting into the act and calls cuban delusional. cuban goes back at cohen on twitter. and then we asked for a some meant from cuban and from cohen about this. these are exclusive to fox business. go on
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the whole story is laying out. first off cohen said, cuban has serious mental problems. he has real personal issues with donald trump and i should concentrate more on his own ventures then on donald trump and mr. trump's surrogates. it is better than later on. there you to. pure jealousy. enormous amounts of attention. this is the best part. the mark cuban had, he said, cuban is so jealous because he had to put his name on bottom of an ashby -- arby's commercial to make sure people know who he is. cheryl: low blow. >> this is even better. he kind of attraction trump through michael cohen where he basically says this. michael is right. i've been a lifelong devote of donald trump. my life is a shrine to him.n one day. i want to cover the walls of my office with pictures of myself. cheryl: that is pretty funny.
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>> he goes on. these would be all new experiences for me. just a few, a few of the reasons i long to emulate mr. trump. is this so wrong? can't a guy dream. and thanks mr. cohen helping me confront my in shoes. i'm forever grateful. cheryl: saved himself a trip to the therapist. >> it gets better than that. there we go. this is how he goes after trump. i want to be part of thousands of lawsuits, have companies i operate go bankrupt multiple times. some day i hope to go broke so i can live off allowance from my bankers. these would all be new experiences for me. just a few reasons i long to emulate mr. trump. early in the 1990s, mr. donald trump's casinos did go bankrupt. he never personally went bankrupt. he was nearly insolvent, banks he owed money to and holdings put him on allowance. allowance you and i can get
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along comfortably. he changed his business around. became a reality tv star. branding expert. his properties got better in the 1990s. there is a lot of animosity between the two. not just about politics. they brag who is the better reality tv star. donald has "the apprentice," very successful. mark has "shark tank." they're both billionaires. mark owns the dallas mavericks. he has building with his name on them. go to you get the full quotes. it is hysterical. it's a great battle. cheryl: thanks, charlie, to your producer. good laugh. billionaires talking to each other. charlie gasparino, thank you. we were off triple digits. not anymore. let's hear donald trump. donald trump stumping in ohio today. his poll numbers rising as hillary clinton's dwindle. pay to play accusations denting
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voters trust in the former secretary of state. with president obama and vice president biden in her corner, donald trump, his rival comes november. it has been a rough time in the field for the agricultural industry but that isn't stopping companies from the farm progress show planting seeds for new business. jeff flock is live and in the heart of farming's super bowl event. jeff? reporter: cheryl, if the tv thing doesn't work out for me, it is possible i could drive a combine because they're getting easier and easier to drive. any idiot can do it now. that and more from the super bowl of farming when we come back in just a second. better buckle up.
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that inactive satellite radio of yours is ready to roll. because the siriusxm free listening event is on right now! just hit the sat button in your car and listen free thru sept 6. that's right, two glorious weeks of commercial-free music, plus talk, sports, comedy, news, and more. your ride has never, ever, rocked like this. oh yeah, siriusxm is on for free right now. so tune in and let's ride!
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amazing sleep stays with you all day and all night. sleep number beds adjust on both sides for your best sleep ever. don't miss the biggest sale of the year. right now save 50% on the labor day limited edition bed, plus 36-month financing. hurry, ends monday! know better sleep. only at a sleep number store. >> i'm lori rothman on floor of new york stock exchange with today's fox tech minute. look at massive explosion for the test launch with spacex falcon rocket at cape canaveral, florida. this was a planned launch of israeli-backed communications satellite. no reports of injuries or damage. elon musk lost vehicle during propel ant fill operation, originated upper stage ox again tank. still unknown cause.
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musk is ceo of tesla whose stock has been plummeting on the news. told you about tesla, they need to raise more money to finish the gigafactory to get the model 3 off the assembly line with solarcity. tesla shares suffering down 5.25%. the saga straight ahead on "countdown." ♪ [announcer] is it a force of nature? or a sales event? the summer of audi sales event is here. get up to a $5,000 bonus on select audi models.
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cheryl: well as donald trump stomachs in ohio the vice president is also campaigning in the crucial swing state for the democratic nominee. clinton's camp is hoping joe biden es middle class rhetoric can undercut some of trump's appeal to blue-collar voters. he pointed a dart right at trump, the phrase most associated with the billionaire, you're fired!. but was it enough after trump's big day on the trail? joined by ellis henican, columnist with "newsday," and kevin paul scott, he is a republican strategist.
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ellis, i want to start with you, with mr. biden. he is in northeast ohio which is very key section of ohio, that will carry the state, frankly. can he appeal to the blue-collar worker and union worker that suffered under president barack obama for eight years? >> there are a lot of people looking uncle joe, if only he had been the nominee, right? he definitely has that human you touch. he is one of her very best surrogates. and yeah, he is a pretty good messenger in northeast ohio. state is really close to be honest with you. cheryl: still up for grabs. at the same time, kevin, look at message, donald trump is having problems now today after this big speech in arizona last night. hillary clinton saying, staying on her for a second, running ads in arizona going after trump because they see opportunity to take arizona as well. do you think that she has got a shot after last night's trump's speech there. >> first of all i don't think hillary has any shot in arizona.
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cheryl: huge hispanic population in arizona, is it not? , it is still up for grabs. >> that's true. i would, but i think ultimately donald trump wins in arizona. the problem is, the message he is conveying in arizona to a lot of his base is not a message that is going to help him expand the playing field across the country. saw really presidential looking trump down in mexico, standing beside the mexican president. he went back and, the crowd in phoenix was really fired up. he basically went further on his immigration plan than he had gone before. i think that is tough for him in a lot of places across america. maybe a little bit in arizona, more so in other places. cheryl: ellis, i'm wondering if the ads that hillary will be running in arizona will be effective because he lost major support in the hispanic community this morning. one pastor in waco, texas, this is simply for optics. i don't have the time or energy for a scam.
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saying they have been scrammed by donald trump. >> ouch. cheryl: those are strong words. he needs the latino vote. hillary seems to have an end here, a big end? >> he does. that is vote the republicans could conceivably get. george w. bush had pretty good luck with it. jeb even. i think donald trump that we saw in mexico, wasn't really like the donald trump we saw in phoenix. when you push those both out there, voters get confused which is the real one. cheryl: that is kind of what he was saying. we were told one thing in private. kevin, give you last word. talk about the electoral map. if you look at it, fox news, what we are projecting right now if election were right now, hillary clinton has 273 electoral votes, if this was according to our projections today, donald trump, 164. how does your nominee come back from this? >> he has got to change the narrative right now. the fact we're all tossing about
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inconsistencies in immigration is not good for him. he needs to talk about the clinton foundation and those ties. obamacare continuing to fall off the map and how hillary clinton will double down on it. if donald trump doesn't change the narrative it doesn't look very good. if he can get back to playing offense and put hillary on the defensive that is really when he will be in a better situation. it is tough for him right now. he has got to change the narrative. i'm not saying he can do it but he had really impressive primary. he has done it before. don't count him out yet. he could still do something. cheryl: kevin and ellis, we have debate coming up we'll see if that is the game-changer. >> thank you. cheryl: it is looking like another bin busting year for america's farmers but could it be too much of a good thing? advancement in farming from seeds to gps and drones are pushing yields to all-time highs, in turn driving prices below break even levels.
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so to boost incomes, farmers chase greater yields but getting at year's biggest as cultural industry event this year among the cornfields of iowa. that is of course where we find jeff flock. jeff, how are these companies being impacted by these low prices? >> well, just a lot worried about not having enough money to spend on all of the stuff that you see here at the farm progress show. this is the super bowl of agribusiness. where all the new products come out, whether it be seed, fertilizer, farm equipment, that sort of thing. if you look at these big bins over here, these big ones that roll through the fields, if you don't have money, you're not making money you can't buy new equipment. look at some of the stocks out there. if you look at stocks like mosaic and potash, c and h even which is one of the stars of the show. they have a driverless tractor they're displaying. all of those have had bad years.
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keen companies like mon san toe, they have fallen off because of predictions about the bumper harvest. when the harvest is up as it is here, this year, this may be all-time record for both corn and soybeans, when you get that you get low prices. farmers find it difficult even to cover the cost of their production. i want to leave you with one final number and that is the farm income projection from usda which came out just this week, cheryl. $71 billion sounds like a lot of money for farmers to make. that is actually down 11% from last year. this is the projection and it is the third straight year of declining farm incomes. so, not so great but cool to see all the stuff. it would be just would be nice if farmers had money to spend on it. cheryl: especially in the middle of that beautiful weather. you wish a brighter outlook for hard-working farmers across iowa and across the country.
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reporter: you said it. cheryl: jeff flock in iowa. look at the closing bell, the stocks, we're down only six points. so the dow could close, could close to the upside on this first trading day of the month of september. we're also following once again the story that keeps on going. pharma's martin shkreli gave exec as bad name. but has heather bresch made it even worse by jacking up the price of epipens. just how big after web she has spun for herself in her sector. keep it on fox business the day after labor day. neil cavuto is coming back to work. we've missed him. don't miss his return to "cavuto: coast to coast" live, 12 p.m. eastern time tuesday. more "countdown" on the way tuesday. hi, pete. i'm glad you called. (announcer vo) all your phones can work together on one number. you can move calls between phones, so conversations can go where you go.
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♪ cheryl: really quick i want to show you the dow. we are, maybe about to turn positive here for the first trading day of september. we were up initially. then we were actually down triple digits. here we go, we actually could see a positive start to what is typically referred to as the worst trading month for stocks that is the month of september. we'll keep you posted. we have left ren minutes to go before the bells ring. does the pharmaceutical industry have a new pharma bro? mylan over center of controversy over skyrocketing prices of epipen over 550%. today "the wall street journal" that the pharmaceutical company put a special incentive plan in place for 2014 that rewards executives if they hit aggressive profit targets. well this is sparking many questions around mylan ceo
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heather bresch's compensation that increased 700% between 2007 and last year. her total compensation, reaching almost $19 million while many went without being able to afford the life-saving epipen. ceo dr. ron cohen joins me to discuss the new report in a fox business exclusive. the incentive program from the outset, reporting the journal has done, the four executives at that moment, over the span of four years, would have received about $82 million in additional compensation if the company hit very aggressive targets. but when you're basically a generic drugmaker like mylan, that would have been impossible, then here comes the epipen price hike. it doesn't look good. >> yeah, well, you know, i'm, i can't comment their specific plan. cheryl: certainly. >> but i can comment how we got into this fix with the epipen, for example. the major question i have is, why was there not generic
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competition for the epipen? the epipen's 40 years ago. it should have gone generic 20 years or more ago but it didn't. where is the generic competition? that is a big issue. cheryl: i understand that issue, i want to talk about it but at the same time from outside perspective looking in they took advantage. epipens, it's a life saving device mostly for kids that have allergic reactions. it just, there is social responsibility and there is corporate profits and looks like this company in particular might be have been taking advantage. >> so again, i want to sort of get to a bigger issue, this is a symptom of, and that is, any industry, when you have a monopoly provider, no one should be surprised if prices go up by a lot. that is true in every industry. we can talk, there is legitimate conversation about restraint and ethics and so on. that is a conversation but the reality is if you have a hoe
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noily any in industry -- monopoly, you have prices in any indus go up. we have laws that discourage monopolies. our law for drugs they should go generic after certain period of time. for example, if there had been three or four generics on market 10 years ago, 20 years ago, we wouldn't have this conversation. everyone would have cheap epipens. cheryl: obviously the conversation is changing. i think congress will have a lot to say about this when we get back into session but at the same time, what needs to happen in my opinion now, we need to have another discussion about corporate governance and roles of boards and ceos and compensation. this is what angers americans when they see this kind of thing. it is frustrating. >> i understand, i would be angry too, right? if you can't afford a life saving drug for your child. you will be furious and rightly some i do want to say the solution in my view is not to micromanage corporate governance in this case. it is actually to provide robust
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competition because all of our history shows that as soon as you do that, these problems go away, because you don't have the ability to raise prices like that. cheryl: mylan says they will introduce their own generic. still $300 but introducing their own generic. they're saying that is their answer. >> they're introducing one but why aren't there two, three, four others. cheryl: teva will come out next year that doesn't help the short-term problem. >> the other big issue here, cheryl, price transparency, right? so you're talking about $608 list price but the reality is, in the entire industry no one pays list price. like the rack rate on hotel room, right? cheryl: insurance companies and pharmacies, they have come out with that already. >> one of the most interesting piece of this to me is that in 2015 mylan took 31% price increase, huge. and they sold he have% more prescriptions. you could think revenue was 40% more. it wasn't t went down.
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where did the money go? the answer it went to insurance companies. cheryl: okay. >> why didn't that money go to lower copays for patients? cheryl: we'll continue the conversation. i'm up against a hard break. ron cohen, acorda therapeutics. i have to point to markets before the break. we're up three points first trading day of the year. the bears in california taking it easy ready for the long weekend. our "countdown" closer how to position your portfolio. thank you for making "countdown" by the way number one. we beat cnbc in 3:00 p.m. head-to-head match up in ratings. first of many more to come. thank you to all of you for watching. "countdown" will be right back.
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cheryl: the dow turned positive in final minutes of trading. coming back from 105 point loss. with jobs coming in lower than expected could this be good news for tomorrow's jobs report? how will september set tone for
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final four months. year? we're off to a good start. haverford trust officer hank smith is here to navigate through down september. are you feeling positive about the number you're seeing on your screen? >> very positive. regardless of the labor report tomorrow, whether we get a rate increase in september, december, here's what investor should be thinking about. take janet yellen at her word. we're in for lower rates for a much longer period of time and rate hikes will happen very sporadically. so there won't be competition from the bond market and money market area for stocks. so this bull market has more legs in it. cheryl: you know, again we've heard stanley fischer and janet yellen both say that there is likely a hike coming. let me ask you this, the banking sector, banks and energy didn't do so well in august but overall banks are positioned to do very well once the rate hike hits, if not before.
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is that a sector you're following right now, and do you like it? >> absolutely. a lot has been made that the dividend area is been overbought and is very expense sieve. that is true on the defensive said with banks and health care. you get wonderful dividend yields with very low valuations and they're going to do very well in a rising rate environment. it is also not true in energy. it is not true in dividend-paying technology and some selective industrials. there are some wonderful yield opportunities where you don't have to pay up for. cheryl: hank, is there anything we should avoid? >> we continue to say sovereign debt is the most expensive asset class. it has been expensive for a long time, but, it is continues to be very expensive to us, and avoid gold. gold is not an investment. gold is a speculation. cheryl: also say avoid colgate, church & dwight. there are a couple names you
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recommend as he well. hank smith, haverford trust chief investment officer. [closing bell rings] there is your closing bell. david asman, melissa francis. pick it up here for "after the bell." guys, take it away. cheryl: stocks fighting for gains in final moments of trading. i'm melissa francis. david: i'm david asman. this is "after the bell." we have you covered in the big market movers. here is what else we have for you this hour. donald trump resonating with voters this week, gaining ground with hillary clinton in national head-to-head matchup. the results of a brand new poll coming up. >> the iran nuke deal was supposed to prevent iran from developing nuclear weapons. but a new report says there were secret loopholes approved by the obama administration. disduring new details in this developing story. bracing for impact.


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