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tv   Bulls Bears  FOX Business  October 18, 2019 5:00pm-6:00pm EDT

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>> it weighs 1433 pounds. that's a lot of meat. >> we will explore that another time thank you for joining us have a great weekend. david: tim cook under fire tonight for meeting with the chief regulator in china just weeks after apple removed an app. they use that by protesters now facing new questions over what exactly was discussed at the meeting in china. this is "bulls and bears" thank you for joining us joining me today on the panel is jonas max ferris and we are happy to have you here as well. tim cook face backlash last week for removing a app that hong kong protesters were using to track police
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movements he said it was in violation of chinese law but the removal happened one day after the communist party published an article titled is apple guiding hong kong thugs? to say that they discussed apple's impending investment with consumer rights protection and fill fulfilling social responsibility. is that all they talked about? let's bring in from the wall street journal given what has been happening the last two weeks this smells fishy. >> it does. beijing sends the message you better get in line for i think the ceo should be embarrassed for go basically to say we don't call the shots.
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>> i know i could not do that from beijing but companies around the world even american companies operate in have restrictions on speech so to saudi arabia, so does the thai government does not allow any criticism of the emperor. hate speech laws in germany. incredible restrictions in russia. when american companies do business in other countries we respect them even if we absolutely disagree with their morals and for purpose and basis that's not so different with china but yet we get incredibly agitated at the idea that there are restrictions we disagree with because in fact we do not rule the world with everyone else's laws. >> that is the apologist view. >> if you call me and apologist then at least address saudi arabia thailand
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and russia. >> i don't think it's right to stand up to those unjust laws that oppress people but what we see is corporations are coming it out it is not about morality it is about the money. and also to pretend they are the good guys. >> yes. this is a question and a commen comment. i get your point zach but isn't there a double standard because yes, the us is not supposed to police the world. okay. we have to go by their rules and their laws but if you are amazon you have protesters with the environment or tiki lawn - - making meals at the national anthem and a communist regime and dictatorship with 1 million muslims in camps is of this a double standard quick. >> in the sense that companies have to make sure and see
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where they can draw lines morally if they are unwilling to ask for sure that opens them up just like any individual to a huge amount of criticism you're applying your standard here but not they are. i'm trying to make the point we are taking an absolutist criticism of american corporations doing business in china we should allow them to slide in other places but that is where you devise human rights versus economic needs. >> anytime a politician criticizes them to say this is internal affairs please don't interfere by here you have the chinese government actively saying what should happen and protesters carrying pro-democracy signs so i think we will talk about consistency in that regard. >> nba commissioner speaks out with his experience and says
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the league has faced dramatic financial consequences as a result to support those protesters a couple weeks ago now he says that china demanded he take action. >> we were asked to fire him by the chinese government. we said there's no chance that is happening we won't even discipline him. we want to make sure everyone understood. >> so china obviously is denying that ever happened but silver says he's not sure where things go from here but how does the nba work with china moving forward quick. >> right now they are demanding unconditional surrender and submission if you want to do business then you have to play by our rules. if that means not standing up for human rights are what violates your corporate values
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then that's the price that something a lot of companies will be dealing with when they decide whether or not they can afford to do business in china or not. >> so here is my concern back to the previous topic that we talked about. heather mentioned we should not be in charge of policing the world. although we have been but these are private enterprises. i'm sorry china is a customer of apple. it's no different than coca-cola complaining that walmart dictates the terms and conditions. you can argue about the morality but any customer and client can argue about the morality of the other if they choose not to do business for whatever reason in china that's great. if they say we are private
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enterprise, we we don't like how china does business they are not politicians. >> but they are not saying that. that would be fine but apple or amazon or nike are not saying that. that's the problem. >> the nba did not say we are there to make money. >> one at a time. >> of course they will not come out to say we are a greedy capitalist that is the obvious unless you are a plane idiot you see this is all about the money and that is what life is like. >> but we are bypassing what i mention the fact that china would deny that it tried to
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get them to fire the gm. i think that tells you a lot about the way china does business granted there are millions of dollars to be made but is it worth it quick. >> first of all don't beat around the bush so other governments around badly but if putin said something about a tweet i'm sure lebron james would not say something they are having protest in russia right now also. this is a really big market and in fact getting back to that other point walking out of apartheid south africa be honest these companies want to be in china they are willing to look the other way but they are not on the smaller economy.
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but if left to their own device devices, the people in the country won't know how bad the country is because they can buy coca-cola they don't realize they are in a regime that needs changing. >> just to put a flying point on 18 percent of the $50 billion comes from greater china. that is a lot of money. but as you said coke pulled out of south africa so anything can happen. tech executives behind bars for new bill making its way through congress that could lead to exactly that. cut. liberty mu... line? cut. liberty mutual customizes your car insurance so you only pay for what you need.
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and i don't wait when i return, thanks to drop & go. at national, i can lose the wait...and keep it off. looking good, patrick. i know. (vo) go national. go like a pro. david: if you lie about privacy you go to jail ron
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wyden threatening tech executives with 20 years and if they lie to the government about their privacy violations. he calls it the mind your own business act. mark zuckerberg will not take america privacy seriously unless he feels personal consequences. under my bill he would face jail time to lie to the government. should these executives go to jail quick. >> i don't think so for a number of reasons. it is easy to get around some of the future he doesn't lie in has somebody else do it. we are ready have laws in place. sometimes they pay billions of dollars in fines. third come it sounds like we are starting to single out tech companies. this is the beat down on big oil or the auto companies why do we single them out?
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we don't because the government was to get more and more into controlling tech so my biggest concern it is a slippery slope. >> right now this is political theater masquerading as legislation. there is no chance this will become a lot more - - a law now or next year. it is such a broad reflecting that legislatures do not understand these companies and there are business operates that you know what he means by privacy i looked at the private loan - - the press release and i don't it is just a shot across the bow making a stand up for the face of evil tech they should be focusing on smarter regulation. this is completely ludicrous.
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>> even if you think there is no chance this will be passed there is a definite chance as elizabeth warren calls for the breakup of big tech but that will happen for sure. recently they were criticized for not censoring political media and i commend him for saying he wants freedom of speech doesn't believe it is his job or social media's job to censor any type of political acts. david: zuckerberg is also in the news for pushing back on critics saying social media has to have tighter controls dana perino asked him about that earlier. >> kamala harris says she thinks twitter should shut down president trumps account. do you think that is a ridiculous idea quick. >> my belief in a democracy i don't think we want private company censoring politicians.
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but i generally believe as a principle that people should decide what is credible what they want to believe and who they want to vote for. i don't think that something we want tech companies or any other type of company to do. >> i just don't buy this anymore that slant so it filters into the system. and there are so many government agencies to do their jobs properly. and then after the banking crisis and doing a lot about privacy that is a half past
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mistake with a public way to solve that problem. and those agencies regulations and to throw those leaders in jail is they didn't stop the banks from making those bad loans the fda never stop at those prescriptions. >> it is an interesting point that the perceived failure people are not serving time because of the financial crisis in 2008 is under coney and knee-jerk response in 2019. i totally agree if this is a form of breaking them up or not but there's a huge difference between antitrust and putting someone in jail for 20 years but i don't think we should take it that seriously.
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>> and with any social media company. >> i do think that's right which is the complete opposite. and then to say the nba should be careful for what we say about china. zuckerberg says without the freedom of speech we would not have had the civil rights movement. or the #metoo movement. >> but this freedom of speech thing like he runs a free newspaper there is the day facebook makes money from all the misinformation whether it is crooked cryptocoin and all these lies lead to traffic and products being sold so he is a recipient and bears no
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responsibility to screen out that crookedness that exist? >> to be fair he did address in the interview. he said we want to crack down on violent protest and spite of misinformation but you are right he did not think government was the answer in the democratic senator from oregon now brings us to light i think that bark is bigger than the bite. david: we have to cut it off there but a lot of people will make a lot of money out of a lot of lies in the next 20 months as we get into this election campaign. >> the worse they succeed and that will be the downfall of brexit
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david: counting down to a major brexit vote boris johnson makes a pitch to cite - - of his life he has signed off and now we are london with the latest. what happens if he is successful or not with parliament quick. >> i checked this morning but that boris johnson will be forced to have another delay from the eu. just like teresa may be for him who failed three times has his plan to get that backstop out of the way.
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he needs 320 votes and then assuming that they all vote for the deal then he is 33 votes short so he is trying to persuade lawmakers this is the way to go. 9:30 a.m. tomorrow morning he will introduce the plan and then we expected day of debate and a slew of amendments. there is no limit on amendments. this could go into a vote through early morning and if they can get that magic 320. if not it will be forced to an extension through the end of january 2020. there is a lot to play for and a lot of wrangling going on but also hearing from the french president never the most positive when it comes to
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brexit saying this has to end the negotiations are over. can boris johnson do what teresa may could not and pull that rabbit out of the hat? downing street says it will call for a general election some more fun and games they are. david: this time tomorrow we will know. parliament has shot down other brexit proposals so if this vote goes down will it bring johnson down with it because there's a socialist waiting in the wings will it bring johnson down with it because there's a socialist waiting in the wings boris johnson uses the vote right now the momentum is beginning to build her boris johnson so i do think it will be very tight tomorrow. but if he loses and we have a
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general election in the course of the next two or three month months, the major polls show he has a commanding lead over the labour party. the labour party is around 22 percent and they are 37 percent he is doing well. even if he loses the vote tomorrow. he is doing everything he possibly can to win the vote tomorrow because this is needed across the political aisle so that is the big question so far he needs 19 labor votes. >> even in the unlikely event
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it doesn't really lead to any leaving of the union but the actual actions is a possible it will happen like that? and we know if the deal is defeated tomorrow that is public dissolution and they have consistently tried to derail to see a large number how to force the men of the british people to get a union on october 31st and then to present the deal from going forward and with a
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parliamentary set is at the all time high. to see them leaving that the prime minister is going to do that but parliament has behaved in the appalling manner. to see the rest trying to stop and they will do so again tomorrow. >> the public is more divided than where you suggest but just a political question would say doesn't the current situation spell a win-win for boris johnson then goes to the to say reelect me because they will not support and that if he wins and he goes to the public and then say i delivered it doesn't seem promising for the labour party.
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>> even if he loses tomorrow i think he will go on to win a general election. so i see the polling then to see that delivered so poll after poll confirms that and now it has made every effort so the british public will support a government parliament is the problem right now. david: good to see you thank you for coming in. protecting their own alec baldwin lee will tell you
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david: real estate developer now the 11th person sentenced in the college admission scandal serving one month in prison with 250 hours community service with a 50000-dollar fine but after this he paid $75000 to have his daughter's act exam
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corrected after alec baldwin defending the parents involved. he is speaking out after felicity huffman began her two-week jail term on tuesday. he tweeted out i don't think anyone involved in the college fraud should go to prison that includes the past cases as well. committee service and find but prison time, no. my heart goes out to felicity and her family. he says they are under attack because of the demonization of wealth in the united states. so is he right first of all and that joy will - - jail time is too much? >> he is wrong there needs to be a standard to prevent this in the future from people saying i will use my wealth to buy my way into this people say that's a slap on the wrist i will pay the fine and this
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misconception it is a victimless crime there are those those students who had positions taken away from them that probably deserve to be there more than the children of these that had the wealth and the parents are willing to commit corruption. i shouldn't say who should or should i go to jail if the guy is facing multiple convictions of his own. >> and tuesday they received jail time she only received 14 days in addition to the 250 hours of committee service so that was enough to change her daughter scores quick. >> that's a good start i will be that up with jail time but that should be it is very symbolic to make sure this doesn't happen in the future. look at the fact this is the
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only type we have seen. universities have other types of corruption. students at harvard sue the university to say the admission scandal they are. the sat they added the adversity score based on the socioeconomic background and then to apply that. it is a growing trend that more people are aware of that college admissions is not just meritocracy or your grades there are so many other factors. >> have two questions. i don't see how a two-week jail time is any more of a deterrent than a fine if you want your child to go to harvard you may say two weeks is no big deal then i'm back on the celebrity and it will look good on my resume that is a comeback theme why is that more of a deterrent so how is
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that much different i'm sure they did it all up front and gave many to chicago and stanford and lo and behold that it is going to the college from the people and the kids benefit. >> i think that would be pretty large talking about celebrities with huge egos that's an image that will be a deterrent in the future certainly there are other areas then you need to judge it from that point of view. but we should all be striving to hold universities to the point they are accepting not based on money but your grades and your own accomplishments. >> that's a very good point.
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they did remove a lot of stuff when the legal backlash then they did win their case and that could be overturned but this is such a great juicy story with a powerful celebrity trying to gain the system so it's night is on - - nice to see them suffering but does it speak to anything other than is at the school they got there come up? >> appoints to a bigger picture of students at school. these individual cases may not be the craziest thing but when people start to examine weight are we putting them into the top schools? we should all hope those are working the hardest to get that spot and raising awareness.
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>> but the gates of the world not only going to the school but then the endowment letting others go for free these cap legitimate people out and that money went to a crook that guy who organized this should definitely go to prison. putting celebrities into prison all that is is an embarrassment is like the bank people going to jail that is unnecessary as wel well. david: good to see you thank you for being here. making a big announcement the biggest in america but does america really want ford is trying to sell? next. edward jones. it's time for investing to feel individual. 2,000 fence posts.
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despite the fact it currently doesn't have many electric vehicles on the market but it says it will be ready for the electric crossover suv based on the mustang the f1 50 pickup the national average price of gas went down 21 cents from last year so prices continue to fall will the demand for the electric cars be down zero? >> yes but it shouldn't be. here is the problem ford will face. it is inertia. people say i drive a gas car. prices come down why should i switch but i think if ford is smart they're looking into the future. mechanical device can only get so efficient the batteries the whole technology has almost unlimited efficiencies to expand i'm not a tree hugger by do think the future is electric cars brick if they
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make it easier for people to access and the technology keeps improving i think that's the way to go. >> hug a tree. it's a fun experience. [laughter] that this is the wave of the future but it is worth the try and it is a technology that is growing there is huge demand like california and other parts of the country. david: they are subsidized in california. >> even those growth areas they are struggling this is a potential growth area actually gm has pulled out of the electric market more over the past year. >> i'm just looking at the timing with average gas to 651 year ago was $2.86 so the timing especially without having the fleet of electric cars already come i appreciate
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their aspirations. may be they could be a huge technological disruptor maybe they don't want to be a car company in the future to make but they get tax incentives the first after the first hybrid but still that will only drive the price of gas further because more people will take electric cars the less money for gas and its competitive that's why they can't raise are all beat up that government isn't giving money to buy tesla or raising the gas tax so it's cost-effective. the infrastructure is a joke there is 168,000 in america. i'm driving all around to find a charger that works for my stupid car. there is no one party that can fix it and now one charger out of 10000 spaces? is just a little electric box that's what i have to fix this.
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>> i heard you have a big gas guzzler bmw where the doors go up on the side? >> the truth comes out. but consumers don't want electric cars those that get rid of the crossover suv how do you sell that quick. >> so why don't they wanted? one of the reasons i am held back is the same reason. if i could easily recharge it with that infrastructure that is if you build it they will come i think that is what ford is thinking. if we build the infrastructure that roll out the cars it is more palatable. david: we will see what happens. now stay in the barbie dream house another push from air b&b but all of these gimmicks are they backfiring?
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david: you can now stay in the goodyear blimp and barbie's dream house jim beam even the wiener mobile some of these experiences airbnb is now offering but now we are getting reports their operating losses doubled last quarter and sales and marketing spending jumped from 58 percent from one year ago are those backfiring quick. >> it is a great little company but they have evolved into a ruthless company basically enables you to break local laws there's a serious problem in miami basically
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they break the law but somehow they don't stop that they encourage it because they are a tech company i think it has problems and will not go public although there are some cool things like people renting out their own houses i think acting like a fake hotel company is a cricket business model. >> back to barbie dream house $60 a night seems like a pretty good deal. it is a girly house pink things everywhere barbie stuff is everywhere i think it's more of a mother-daughter vacation i don't understand how they make money $60 a night.
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>> i don't agree they are a crooked company but i think it is the government regulations they are fighting i don't think that makes them crooked. the problem with this company is now they are starting to get more and more competition like and vr bl in the hotel chains themselves that's a tough business to get into just. technology cannot control the cost. >> that private market valuation is so excessive to see if there is a business those multi- times unicorns to get most of that is forward stock options that is a challenging environment and the public market will not reward them considerate of those hopes and dreams and expectations. >> it is a great idea i'm all
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for undercutting that hotel lobby may be they break bad regulatory laws. >> but clearly we need the taxes and that local ordinance has a right to tax hotels to not let you write your apartment like a hotel so neighbors don't see people coming up and down the hall they gave you a path to break the law miami beach this whole district is illegal were just a company in the middle go after the owners. >> owner should be able to do what they want with what they have that's my opinion. what about this shopping season check out the neiman marcus catalog out today
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david: even marcus is out with the annual holiday gift, log for the first time they are less than a million dollars the most expensive is a $700,000 limited edition aston martin designed by double oh seven himself 400 grand you
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can star in your own instagram video with instagram makeup artist of kim kardashian or a versace punchingbag how do we divide this up amongst ourselves quick. >> i was thinking that aston martin i voice wanted one weight what is the auto insurance on a 700,000-dollar car? i will pass. [laughter] >> i will take that kim kardashian makeup artist. david: $400,000? >> i can't afford it. >> i don't need it some of us need be --dash better makeup also do they know that nobody uses the catalog or the officemax catalog they should
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not be publishing this. david: you want the expensive doghouse $35000? >> i will take the champagne vending machine i am assuming you don't have to put money into it. david: that's a good question is $35000 that doesn't even include the champagne. >> i don't want that in my house and then have to pay a hundred $50 of my own wine. >> nobody went for the punchingbag and the costumes that go with it the boxing gloves in the robe.
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>> so you could use that nearer south beach home of versace spirit if you don't want it i am going for it that does it for bulls and bears he will see you back here next time. >> the cease-fire that they broke that temporary nonbinding cease-fire showing gunfire by the turkish military to warn turkey would ever he says that the turkey is a legend use of chemical weapons against the kurd against children the big push for the government to run everything they already have no accountability with free


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