tv Bulls Bears FOX Business April 24, 2019 5:00pm-6:00pm EDT
it seems like maybe they are going to put it out right before they do the call, people have less time to maybe digest the information? >> well, the way i look at it, it is david asman's problem right now. >> that's right. bulls & bears starts right now. >> see you tomorrow. david: breaking news, here's a look at where facebook microsoft are trading after hours, both beating on the top and bottom line in just the last hour, this as we eagerly still await results from tesla, supposedly they are going to be out any moment. we've been saying that for about an hour now. we will bring you those results as soon as they come in. >> the stok stock market and our country from an economic standpoint is doing the best probably it's ever done. we're hitting new highs again. we've hit new highs i guess, close to or over 100 times since i'm president, from the time of the election. david: the president doubling down on the record gains in the stock market this week, gains he says the media are ignoring.
we're going to be speaking with larry kudlow about this and a lot more coming up. hi everybody. this is bulls & bears. i'm david asman. joining me is the panel today. first, let's bring in national economic council director larry kudlow who is live from the white house in a fox business exclusive. larry, great to see you. thanks for coming on. larry, you know the media. you were part of the media for goodness sakes. are you really surprised that a trump-hating media won't give the president credit for the economy? >> well, david asman, yeah, i've been in the media for a long time. let me just say this, there's some really good reporters out there, and then there's some that not so much. you happen to be one of the really good ones, so you cover the beat. that's all i will say. and i think the president is right. i think that actually you know what? after kind of a dull winter and
government shutdowns and this and that, looks to me like we're getting the new life into the economy. david: yeah. >> i'm hopeful that the gdp on friday is going to come out, you know, 2 1/2, 3 percent if you add on an adjustment for the shutdown it would actually be well over 3. i love the drop in unemployment claims. i love the rebound in retail sales. i love the fact that businesses are spending rapidly. i love the fact that inflation is going down. you know why? because supply side tax cuts produce production and investment which actually lowers prices; right? more supply chasing demand, i love the whole story. i think the president has it right. like i say, buddy, some reporters are better than others. david: well, thank you for the compliment, larry. i'm just wondering about, it is a very optimistic viewpoint where the economy is going. it's certainly turned around from december. but do you think we can make it through the election before there's a recession? >> i think if the policies stay
in place, this is very important, if the policies stay in place, i believe they will, the low tax rates, particularly on business, but also individuals, the rollback of regulatory burdens, across the board, including energy. we're in an energy explosion. i mean, isn't it fascinating we put additional oil sanctions on run away rogue state iran, and oil prices hardly went up, and now it looks like they are correcting downward again? that's a great american triumph. we're dominant. i want to say with the trade reforms, i think we have a very good chance of some pro-growth trade reforms coming up. so if those policies stay in place, they are pro-growth, supply side, free market policies. they are private enterprise, free enterprise policies. you have a president who believes that business is not a dirty word. that more people working does not cause inflation. that you should be rewarded for your success, not punished.
as long as those tenets and principles stay in place, yes, yes, i believe the economy continues to roar as far as the eye can see. david: larry, let's think of your worst nightmare here, that democrats take over the white house. i haven't seen many moderate democrats so far at least in the race, biden would be one if he enters tomorrow, as is planned, but from what you have seen of the democrats move towards the socialist left, what would happen if those policies were implemented in the united states? >> well, it would be a rough patch. i mean, look, 2019 is in place. 2020 is in place. that's not going to happen. now, if you're right, worst case, i think the socialist policies would be very damaging. you know, among other things, it would zap the morale of the country, the kind of collectiveness, central planning that we have seen talking about, government telling you what to do, where to do it, how to do it, etc., etc., destroying the private sector. i mean you can take healthcare
and universal medicare. you can give away as many free student loans as you want. you can pay as many people that don't want to work as you want. you can end all fossil fuels and destroy -- you would probably knock off inside ten years 15% of the gdp. one of my favorite stats, i know one of the candidates just talked about at some length, the universal medicare for all? well, guess what? they will wind up being medicare for -- 180 million. okay? 180 million people will lose their healthcare policy contracts. david: right. >> can you imagine that? that would be the biggest encroachment and confiscation of property in history. and i think it's very important that the younger group think hard, and i want to talk to them, the millennials and so forth, church hill said if you are in your 20s and you are not a socialist, you have no heart. in the 30s, if you are not a capitalist, you have no mind.
a lot of these young people are starting to be working now. they understand the value of the dollar and hard work. so whey'm saying is we -- so what i'm saying is we must prevent this. we must put socialism on trial and convict it. medicare for all is one example. green new deal is another example. there are a lot of other weird things coming out of the socialists. david: i want to talk about a couple of things in particular. i understand the japanese representative is coming in this week. there's talk inside the beltway that maybe there's an agricultural deal that has been penned with the japanese where they would buy more of our agricultural products, particularly meat and pork, can you tell us anything about that? >> i don't want to get ahead of any stories. ambassador lighthizer our trade man, best in the business, he's talking to the japanese as we talk right now. prime minister abe is coming. he's also a good man. he's the presidential potus favorite and one of my favorites of the foreign leaders. he loves to do business and talk
trade. i don't want to be specific or forecast, but we're hard at it talking to them, yes. david: let's talk about mexico. the redo of nafta, the usmca, there are a lot of problems as you know on the border. woe don't have to mention what they are -- we don't have to mention what they are. everybody knows. are they in any way going to affect that trade deal? >> no, look, the usmca deal is a terrific deal. and the international trade commission said it was the best deal since the mid 80s. we figure that deal, 100 billion dollars in annual gdp over a period of time, and not only strengthening domestic content, let's say for autos and manufacturing, which is very important, but also protection of intellectual property rights and patents could spark a tremendous investment boom, a lot of entrepreneurship. i think 3/10 to 5/10 increased gdp per year david asman? david: that would be great. >> those are big numbers. david: what's going on on the border is not going to affect
anything that's been decided about the usmca? >> i don't believe. david: we heard about the possibility of tariffs if the mexicans don't help out anymore. >> they did at one time, but the mexicans responded which what i think potus really wanted and there's some very good movement there. look, we are totally committed to usmca. bob lighthizer put this together, i think it is the single best trade deal in american history, i mean that. i have been out there fighting for it. happy to talk about it in on your program. it is so totally pro-growth and pro entrepreneurship. it fits right in with all the other things that this administration is trying to do. i'm still playing it cautiously optimistic on the china trade. they are hard at it. david: china has all of the tensions between the china and the u.s. have caused a lot of problems, not just here, but around the world. if there is a china deal, what happens to the world economy? do we see -- how big a boom could we get from a good china
deal? >> well, if it's a good deal, or to use the president's phrase, if it's a great deal, and if it's an enforceable deal, then yes, i think it's win-win, growth for everybody. it will help open up chinese economy. if they open up their economy, we will sell them a ton of goods. our export sales will soar. we are the most competitive economy in the world; right? so if they let us in, we'll have phenomenal export sales trading across the board and maybe fix some of these terrible technological deals, thefts, force transfers, cloud, but enforcement is crucial. so it's got the work. if it does work, yes, i think it is going to add to economic growth, absolutely. david: larry, final question about the fed. we got a couple of friends who are in the running for that. herman cane is out. it was made official this week. steve moore is he still in? if so, when will the president
officially nominate him? >> let me say a couple things, steve moore is in. he continues to have the backing of the president and myself. he is in the process. you have to be vetted. the fbi and so forth has to go through everything. and then at that point, if it looks good, he will be formally nominated, sent up to the hill. the senate banking committee will go through their own vetting and voting process. i wish him luck. we stand completely behind him. i think he would give us a breath of fresh air on the fed. listen, david, you have never heard me say this. more people working and succeeding do not cause inflation. [laughter] >> if somebody on the fed can get up and say that every day, like a mantra, like the lord's prayer, this is the lord's economic growth prayer, okay, if they can do that, it would be a great service to the fed, and by the way, i think the fed is starting to move in that direction anyway. so we're still behind steve moore. david: by the way, just for the record, i have been hearing you say that for the past 30 years. it is nothing new from larry kudlow, but now we're seeing it
in action. you are right, inflation is coming down even though we're growing the number of jobs like never before. great to see you. don't be a stranger. come see us soon. >> any time. appreciate it. david: appreciate it. let's bring in our panel. what were your big take aways from what you just heard? >> i'm very happy to hear larry talking about the usmca in a really positive way. i frankly haven't heard that message much from the administration. last night i had the opportunity to talk to canada's consul general here in new york, and she has been making the rounds trying to get democrat legislators on board with this thing. i think this is going to be a struggle only because they don't want to give president trump any victories between now and the election. >> two several points that he brought up, he brought up china, should that happen, i think maybe there is already a priced-in into the market so i think we may not see as big of a reaction as we are expecting because we don't know how we're going to follow through with making sure china doesn't do that. i would like to preface too that often we use the stock market
and the economy as interchangeable, they are not. the stock market is based off of investor expectation. yes, the economy plays into it, but they're separate entities. and then the other third part that larry didn't bring up but it is a bigger picture, the fact that debt is at 22 trillion. we spend half -- 500 billion dollars on interest payments. these are something -- there we go. it is something we should consider, especially our obligations of social security, medicare, all of that is coming into play. those are answers i would have liked to have heard. >> i will tell you, obviously larry kudlow was spot on. i would like to connect it to the regular people at home, and the "wall street journal" did such a great job with that yesterday with a new poll. we talk about the stock market numbers. what does that translate to? retirees and people have more confidence right now in their ability to pay for their own retirement and have financial security in their retirement at an all-time high.
that's what this economy means. we talk about the ups and downs in the stock market. i get it. but for the people at home, that's what they are taking away from this, and that's great news. >> that's the help too, guys, of the fed. david, your interview was great. it goes to show you we need more guys and gals in d.c. like larry who understand inflation and the causes therein because that's exactly what has happened with the federal reserve. you know, they were on this interest rate hiking policy kick, you know, for several months last year, and then all of a sudden, they turned after the president calls them out, they look at data and follow the right path. look at what's happened with the stock market. it's rallied since. david: thank you very much. tesla quarterly results due out at any moment. we have been saying that for more than an hour now. we will bring them to you as soon as they come out. meanwhile, illegal immigrants are coming armed to the border, and president trump says the only way to counter this, look at that picture, is with increased military presence. we will be speaking with a border agent coming next.
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in fact, he's encouraging more countries to adopt what the eu has adopted in terms of the protecting data rights of users. he says he expects more countries to do that, hence his privacy manifesto, hence the encryption. he points out that facebook by the way is still not the largest messaging service in the u.s. and also in china. as for earnings itself, we did see the stock pop in the afterhours. beat on the top and bottom line. and daily active users often coming in better than expected. a slight tick pretty much in line if you want to call it. looking at daily active users on all platforms 1.56 billion daily. that's each and every day folks. a little bit better than expected. monthly active users 2.38 billion around the world that use one of the facebook platforms each and every month. these are pretty encouraging numbers that we saw, but the big headline maker for facebook is
the ftc settlement, at least what they are putting aside in anticipation of the settlement of 3 to 5 billion dollars, which they say will bite into their bottom line, and you know, we have been looking for some sort of numbers since this has been in the reports and the headlines that there was some sort of settlement to be negotiated with the ftc, but they say that there's no deal so far -- david: susan, i have to wrap you because we have a lot more news. we finally got tesla results that came in. let's go straight to the newsroom with the headlines. >> it was an epic wait for these numbers coming out past the 5:00 mark. but tesla did not make it on the top and bottom line. let's start with the revenue. the expectation 5.19 billion. tesla came in at 4.54 billion. so a little bit light on the revenue side. on the eps side, the loss was steeper than expected. $2.9 o. the estimates were looking for 69 cent loss. couple other key items coming out of the earnings release.
model 3 figures, 63,000 in the first quarter. analysts were looking for that number. also gross margin on the model 3 about 20%. this is figuring into the calculations. cash position for tesla down from 3.7 billion to 2.2 billion in the quarter. remember, tesla was a company that had turned a profit for two consecutive quarters. as you can see, back down to a loss here. on the conference call at 5:30, guidance, that's going to be really important but you can see the stock is actually trading slightly higher after this report. david: well, it is, even though we were expecting -- we called it earnings. they are not earnings. it's losses. >> exactly. david: jackie, welcome to fox business. >> thank you. david: a great new addition to fox business. thank you very much. the situation at the border continues to intensify. president trump is doubling down on his threat to close the southern border and now says he's going to send armed troops to the border. national border patrol council
vice president is joining us now on the phone. hector, we had some shocking images today of smugglers with ak-47s who were crossing into u.s. territory with illegal aliens. it makes a lot of people wondering are we close to armed confrontations here? >> well, that's exactly what's been happening on the u.s. mexico border. as a matter of fact, just last week, we had mexican soldiers that detained some of our national guard soldiers that were working along the border. we are seeing some of these mexican soldiers work with the cartels in a corrupt manner, and they are engaging in criminal activity along the border. now, we've seen this before. we've had some of these criminal actors with dangerous weapons that have been shooting at other agents across the border. so yeah, it is a difficult situation on the border right now. david: scott, go ahead. >> great point about the soldiers working with the cartel. i mean, that's the concern i've
had all along, hector, is what is mexico's capacity to actually step up and help the u.s., either with these caravans or like you mentioned with some of the cartel members coming over? i mean, besides some veiled economic threats that we've thrown at mexico. what's the right strategy with getting them to step up and actually help keep some of these people out and from coming into the united states? >> at the end of the day, we know mexico has a long history of corruption. we know that mexico works hand in hand with these cartels in order to try to achieve peace in mexico, but definitely what president trump is doing in putting pressure on mexico is the right move. i know that president trump has been talking about shutting down the border in certain areas along the u.s. mexico border. and that's some of the steps the president does have to take, they are extreme measures, but we are in a desperate situation. -- [inaudible] -- president trump sending more troops to the border. >> hector, question for you, how
are our troops, border patrol agents, everybody, how are they allowed to respond? if somebody's brandishing a weapon, are they allowed to shoot? if they are shot at, can they respond? how does it work? i feel like we're totally the victims here. >> yes, so we do have very very good policies in the u.s. border patrol. we do have use of force policies that dictate how we're going to respond to some of these threats. our agents are highly trained and they do know how to respond to threats. if their lives are at risk, they are authorized to use deadly force against these cartels, against mexican soldiers or even an an alien that might be attacking them. our agents have received great training where they will make good decisions to know when to use force and not use force. >> hector, thank you very much for your work. it is incredible how many migrant families are coming over to the united states. we can maybe say it has to do with the strong economy and dire conditions in south america, but
what are you seeing once these families are apprehended and where they're being taken? is there a lot of people being put into certain areas? like, what's the vibe with all these migrants that are being apprehended? >> again, a lot of these people what they are claiming is asylum, but we already know that a big percentage of the people that come through asylum never follow through the process. what that means is they are abusing the immigration laws. they are abusing the asylum process. once they come into our custody, unfortunately, because of different constraints of the law, we are not able to detain them. while a lot of these people are being released into our communities, and many times these people that come across end up in the destination that they were attempting to reach, and that could be anywhere in the united states. we know that president trump was talking about sending them to sanctuary cities, and that's something we do support. he should be doing that because these sanctuary cities are encouraging illegal immigration.
david: hector garza, we have to leave it at that. we are so grateful that you and your comrades are doing at the border. hundreds of thousands of people, i know it is almost an impossible situation. you have your hands full. we are very gratef fufu fuful f support. we appreciate it >> thank you for your support. david: do democrats have a party problem? we'll debate that, coming next. ♪ limu emu & doug look limu. a civilian buying a new car. let's go. limu's right. liberty mutual can save you money by customizing your car insurance, so you only pay for what you need. oh... yeah, i've been a customer for years. huh...
david: former vice president joe biden expected to announce his presidential bid tomorrow, and conservative radio host rush limbaugh thinks biden would be the democrat's best shot for 2020. listen. >> joe biden is probably the best chance they've got, and he doesn't have a chance. they're probably -- joe biden
and crazy bernie and mayor pete? i mean three white guys, two of them are from jurassic park and that isn't going to sit well with the rest of this party which has gone so far left. david: a new poll showing that some sanders supporters would actually vote for president trump if bernie's denied the democrat nomination for a second time. gang, whatever happened to party loyalty? >> well, i think what we're about to see is the democrat party or the democrat socialist party as they should be labelled tear themselves apart. it really doesn't matter which of the 20 or 30 candidates comes out of their primary process. they're going to emerge broke, broken, bruised, and they're going to inherit a democrat party that's not adding donations. it's adding debt. and they are miles behind the president in fund-raising, in data, the rnc, the national framework that we've got put in place, they are headed toward a cliff, a socialist cliff, and they are about to fall off of it.
>> to that point, you have the money part. you have bernie sanders that's already amassed about 26 million dollars thus far. joe biden's come in with 0. but he could potentially start raising $100,000 per day up until christmas. that number is according to to the new york times. you talk about age, though. the president's 72 years old. joe biden is 76. so there's not that much difference. let's not bring -- david: in the way they look. >> let's not bring in ageism into this conversation. i do think joe biden though faces a lot of competition from the democratic party. there are rumors he will be pushing forward climate change as his platform as well. i wonder how that will resonate given the democratic party leaders right now -- candidates are trying to distinguish themselves. he will be coming out with a climate change platform, maybe. >> before we get to too crazy that he's a moderate, he calls himself the most progressive democrat in the race. i think the sanders followers
being angry about what happened in 2016, they won't vote for president trump, i don't imagine, but there's a good chance if he doesn't get the nomination, they don't vote at all. i think that's a real risk for the democratic party. we saw that in 2016 by the way. a lot of them simply didn't vote. so i think this is an issue. a lot of democrats still say oh bernie is not the one. he doesn't have a chance. he does have a chance. this is a good reason why people might vote for him. >> no, i think you are right, liz. i don't think those voters go to trump, you are right about that. i will tell you what else would be great, guys, is what i'm hoping for, imagine the biden trump debates and so forth. all the amazing. david: don't forget biden is the one who actually said i'm going to take him out to a wood shed and sock him or words to that effect. you think of bernie in the
2016 -- i don't know if you remember, mark, in the 2016 democrat convention, bernie was way up sitting in the rafters, way out of the spotlight, just sitting there fuming because he knew that they had cheated on him, and he knew that they had essentially stole a lot of the votes. he could have been the nominee in 2016. >> he could, and they rigged the system against him and then they still lost. again, i don't think it matters whether it's bernie, biden, mayor pete or whomever, they're going to face a president in president trump with a tremendous record that we've already talked about on the economic side. he has a massive campaign finance and a campaign operation behind him, and just to the point that was brought up earlier, about the money that bernie has raised, president trump has raised 21 times the amount of money that barack obama had at this point during 2011 and the year before his reelection. just to put it in perspective, they are about ready to walk into a brick wall that is going
to be emblazoned president trump. david: follow the money, as they say. thanks, gang. seattle businesses sounding off on a rising homeless crisis and crime in the city. what the city is doing to tackle both issues. we will take you there live, coming next. ♪ (vo) i know what you're thinking. electric, it's not for you. and, you're probably right. electric just doesn't have enough range. it will never survive the winter. charging stations? good luck finding one of those. so, maybe an electric car isn't for you after all. or, is it? ♪ back then, we checked our zero times a day. times change. eyes haven't.
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that keep them satisfied. it is the people that is really the only asset that you have. put your employees on a path to financial wellness with prudential. bring your challenges. david: seattle washington is now facing a major homeless crisis that is getting worse by the day. it's driving some local business owners out of the city and they are pointing their fingers straight at the city council. robert gray is on the ground in seattle. robert what are the details? >> that's right, david. homelessness has spiked by 50% in seattle over the past decade. the seattle economy is booming here with the fortune 500 companies based here, amazon, starbucks, costco, microsoft in and around this area, but of course that's also crunching the housing affordability here. much higher for rent or median home prices than the national average. there are obviously folks with mental illness issues as well on the streets. but it is not the general homeless population that's
really troubling most small business owners here. it is this growing group of transient vagrants, many of them coming from outside of seattle that are coming here that are posing a threat to their livelihood and to many of them their health and safety. residents and business owners say the street crime situation has worsened considerably in just the past few years. they are blaming lax legal enforcement as well as unresponsive city officials, and keep in mind, all of this not helping small businesses in what we all know is a very tough retail environment. >> we're fighting things every day for, you know, competition, the on-line business is, you know, a huge for any brick and mortar store. and for you to have to worry about a customer coming in and the experience that they have is someone out of their mind on drugs yelling and screaming at them. it is hard to overcome. >> yeah, for sure. you know, we experienced some of this first-hand. we were accosted by a group earlier, and we've interviewed
several people who have been, you know, attacked themselves in recent weeks and years here as well, david. this is going to be a hot-button issue as 7 of the 9 city council seats are up for grabs this year and a lot of people telling us they are fed up. back to you. david: same thing happening here in new york. robert, thank you very much. gang, are seattle's policies just making its homeless problems worse? >> well, first of all, let's discard the idea that it's a housing issue. these people are most likely not the kind of people that are going to be buying houses or renting houses, even if they are affordable. most of them have mental health issues, drug problems, etc. the answer is in these blue cities, new york being one, san francisco, seattle, etc., they have taken such a soft line on enforcing laws and getting rid of things, like vagrancy laws that now anything goes. i mean, in new york city, which i know better than obviously what goes on in seattle, people can do anything on the street in front of your house, etc. nobody takes any kind of enforcement against that. and guess what? eventually you are going to
continue to lose people. taxpayers are going to say where are my tax dollars going? security is the number one thing people expect from their government, and they no longer have it. it's outrageous. >> you are right. i mean, you are right, liz. we're past the tipping point. that's the scary part. we're well past the tipping point. the chips have spilled out all over the floor. it is going that way. that's the concern, going forward here, the policies of these states, by the local officials, consumers and local businesses are upset by this, what are you going to help them? are you going o the tax them more? regulate them more? they are going to move out and take the tax dollars away and the government will be left with a bigger migrant population or problem and therefore you will have more problems than they have today if they think today is even bad. >> i want to bring back liz's point because i do believe -- i'm talking about new york city because i've seen it here. it's become more relaxed, but i
don't think we should be criminalizing the homeless. i don't think enforcement is always the answer. i don't think we can arrest ourselves outs of this situation. -- arrest ourselves out of this situation. i think we need to address mental help. there used to be places in seattle where they could go, single room housing units, like the ozark hotel, those are gone. those are contributing to the lack of facilities where a lot of these people with mental health can go. i think that's a big part of it. why these vagrants came in there, that i can't understand why that's happening. david: because they are enabling them with all kinds of offers for free food, and they do have free -- we have more housing for the homeless here in new york than we have ever had. >> often if you look around and people that are watching our show right now do not see that a lot of these people out on the streets have mental instability? they need medical help. >> that's a great point. i think people would actually pay up to have some mental health help for some of these folks because that would help
fix some of the problems versus throwing the tax dollars down the drain and saying yeah it is going to go other places where we can't tell you where it is going to end up. >> exactly. >> this just proves that the liberal policies of these cities are all complete failures. to the earlier point, people are getting fed up. already some of the highest taxed people in our country. they also have some of the worst problems. it is not going to be too long before the residents and the businesses say enough, i'm washing my hands of it, and i'm taking my money, my revenue, my employees out. we're going to go to other places where this is not a problem. for those people, let's look at it on the national stage. we will have this argument next year. if you want these liberal free-for-all policies that produce more problems or do we want the common sense free market solutions that bring the answers? david: there's another point to all of this, which is policing power. the police very often are hamstrung. they can't do anything about these people because they have mental health issues and even if they are threatening innocent people, and i have seen it in my own neighborhood in new york,
where we call the police because a homeless person is threatening somebody, an innocent bystander, and they can't do anything. the police throw up their hands. what are you going to do? >> well, i just actually want to pinpoint mark's point. he just politicized it. i don't think that's the answer. there's more homeless people in metropolitan cities. this is not a liberal -- or democrat versus republican situation. this has been going on for quite some time. david: there are good times and there are bad times. now is a bad time. we have to run, gang. that's it. a new report on what went wrong with samsung's $2,000 folding phones and why they may have been rushing to get them out. details coming next. of mastery. lease the 2019 es 350 for $389 a month for 36 months. experience amazing at your lexus dealer.
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david: samsung's need to beat its competition to punches backfiring big-time according to new report, pressure to get out of apple's shadow and be a, quote, true innovator led samsung to rush their $2,000 galaxy that foldable smart phone out to market before they should have. let's bring in mobile nation's senior editor russell holly. what do you make of the report? >>i'm actually not sure i would put this so much on apple as i would huawei. both of these companies are looking to put out the foldable phones really quickly.
motorola is behind them with another one. the big turn up here seems to be the third party company that's taken one of these phones completely apart and shows what's very likely here this is kind of unconfirmed samsung will release their own official report but it seems like there's some space in between the edges where you fold the phone over, where just doing something as simple as leaving the the phone in your pocket can cause dust to get in between the layers so when you fold it, it could puncture through the screen at one point. >> i find it mind boggling they did not catch these errors, these flops. do you think this is a bigger problem of the industry as a whole? we have a company rushing to market. smart phone sales down almost 5%. people are holding on to their phones a lot longer. so that means the cycle of replacement doesn't happen as soon. is that really the problem? >> you are definitely looking at a couple of those things here, in my opinion. the first thing to keep in mind is that this is a phone that's
unlike anything else that's available right now so there is no maybe i can keep ahold of my own phone and keep some of these features. that doesn't exist in this situation. you upgrade to this phone because you want something radical and new. you are essentially a beta tester for samsung. there are a lot of things come into the software in the limited amount of time that it's been used was really clear it wasn't fully baked yet and not entirely ready for -- i wouldn't give this phone to my sister but it is something i would probably use and figure out over time. >> it is scott martin. i would probably give this phone to my brother but that's because he likes phones. did they screw up the price point, though? this phone is $2,000. is a phone -- i guess is a smart phone ever worth that much money? and secondarily, is that even the right price point for what you are getting with this smart phone? >> it's a really interesting question and a big part of that conversation is thinking about what it is that you're actually getting with this. it is a tough thing to answer. you keep in mind that we were actually having this same
version of this conversation nine months ago when we saw phones break the $1,000 price point with apple and samsung and several other companies. the $2,000 price point you are adding two devices together. you have the thousand dollar phone experience which samsung is leaning on as being something they have proven their worth and you are adding the whole tablet experience when you open it up. the cost of ipad mini, you add into the cost of a regular iphone, getting not too far away from the $2,000 mark already. >> russell, i think that's right. it seems to me with the explosion in streaming services and people watching everything on their cell phone or smart phone, this is such an obvious opportunity for somebody to kind of capture the next thing, which is, yes, you have a smart phone, but boy it opens up and you can really watch a movie very comfortably and enjoyably. samsung is not stupid. the rewards for having the first one out and really conquering this thing must be enormous, i would think. >> we've seen several companies
over the last couple of years approach this whole -- answering this question, what if you had one device that could do everything? you have the phone that does the phone thing and open it up and do the tablet thing and plug it into a monitor at a hotel room and you have a full desk top experience. that experience samsung has been trying to sell. microsoft has done the same presentation over the last couple of years. that what if hasn't been met by a single piece of hardware that's done it and samsung is gearing for that here. >> are we looking at we can't fit anything bigger in our pockets or our purse? now the question how can we jam more things into it to make it bigger but also not bigger in >> i'm personally very excited to see the first person who tries to slide this thing into their back pocket and sits down somewhere and they will be very surpris surprised about what happens next. [laughter]
>> motorola's reveal might be the razor phone, where we have something that flips out and has that foldable display. we're not so much going for bigger or taller, so much we are how much we can make it so it's thinner but still, you know, able to be movable. david: it is weird how we're going back to the future. steve forbes will be very happy. he still has his original flip phone. russell holly, great to see you, thank you very much for being here. appreciate it. good stuff. >> thanks for having me. david: oil executives boosting their salaries just a day before a multibillion dollars merger. coincidence or is this crony capitalism run amok? 2,000 fence posts. 900 acres. 48 bales. all before lunch, which we caught last saturday. we earn our scars. we wear our work ethic. we work until the work's done. and when it is, a few hours of shuteye to rest up for tomorrow,
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david: anadarko oil in the middle of potential bidding war after occidental petroleum made an offer of 38 billion dollars to buy the company. this coming after chevron agreed to buy for 33 billion dollars earlier in the month. oil executives at anadarko sitting pretty either way, reportedly boosting their own payouts just a day before announcing a deal with chevron. the ceo walker reportedly getting 43 million dollars. that's almost 7 million more than before changes were made. so gang, here's the question, is this an example of crony capitalism at its worst? >> it's pretty bad, david. the optics are not good. obviously the shareholders did not vote on this boost. the board did. it goes to show you you keep shareholders close and keep board members closer.
that's what happened here. the sad thing too shareholders also if you look at since walker took over this company as the leader, i think it was back five, six years ago the stock is only up with dividends reinvest about 3% and it is trailing considerably behind a lot of its peers so he hasn't done a lot of great things for the shareholders over the life of his tenure. >> scott makes a good point. that i think is more important frank frankly than this last minute changing the year end pay. these guys won't have a job after this deal goes through so i don't think it is totally shocking that the board would try to compensate them for seeing the deal through. i think the fact that he is making so much money when the stock hasn't done well and company hasn't done that well is more compelling to me. david: since 2012 by the way when all these talks of mergers and buyouts began, 127 million dollars, that's more than pretty well. >> yeah, i think there's one calculation i saw on-line that he could potentially have a payout of 67 million dollars too. so what's the solution? do you have to have a better
governance? a group to oversee the board in these decisions? >> the shareholders will have a vote -- >> right. >> but my guess is it won't come to anything. >> i guess to answer your question then, the answer is yes this is an example of crony capitalism. we look at the stock price of both those. anadarko is trading a bit higher because i think the expectation is there potentially could be a higher bid, trading higher than chevron's offer price so maybe there's going to be a little bit of a battle. d david: mark, this plays into the play book; right? >> i think we need to rename it. it used to be called the golden parachute now platinum parachute. getting 43 million dollars to go away, a lot of people would take that and go home. in terms of government regulation, since i'm on the political side, i usually try to stay out of that lane. david: yeah, well there is room
for government regulation. maybe this is one, maybe not. we will see. all right, gang. that does it for bulls & bears. thank you very much for joining us. we will see you back here next time. liz: major developments tonight, north korea's kim jong-un in russia about to meet with putin. we're going to also talk tonight about president trump declaring the economy is on fire. the stock market's on fire. 9.1 trillion dollars added in market value since the president was elected. the president now warning democrats looking to impeach him that he will fight them all the way to the supreme court. we have that debate tonight. plus the do nothing democrat house, new data coming in, this congress is enacting laws at half the rate of the last congress. more on that and also how top moderate democrats are now hitting the panic button about losing 2020. the battle for the border, the government releasing