Skip to main content

tv   Your World With Neil Cavuto  FOX News  May 18, 2012 4:00pm-5:00pm EDT

4:00 pm
to hold on to what it came in at $38 a share. now they have not dotted the i's or crossed the t's but at $28.18 a share, 18 cents north of where it came in at the start of the day, regardless, it makes zuckerberg the man would runs this company who came up with the idea of this company, in a dorm room eight years ago, a billionaire many times over. on paper. at left. worth north of $19 billion. enough to propel him into one of the richest people on the planet. so, what is the take from facebook's first trading day? we are all over it. with dagen. ordinary folks got swept up in it. and why dead's relatively lackluster performance could be a very good thing. and lauren on how the newly
4:01 pm
minted millionaires reacted read michael reagan on why they should fear the tax hit. >>dagen: a republican -- frenzied day for facebook the most valuable american company ever at time of market debut and a record number of shares traded hands for a market debut more than half a billion shairs. but, let's start with the beginning of the day. the stock opened half an hour lay at $11:30 a.m., and traders had a huff time getting information about the trades. but the stock popped at the open and it was at more than $42 a share and that was up almost 11 percent from the $38 rice. but it fell back to the level in a half an hour and you can see it closed about that level at 4:00 p.m. this afternoon, so, no
4:02 pm
major pop to talk about but this company has more than 900 million users and people know the story, and they necessity its history, and they know the hooded billionaire baby face co-founder and they were still excited about this i.p.o. >> man, to see something like that to go public is unique. >> 900 million people have it. everyone uses it. >> i'm in. >> i have not bought the tock but i would. >> a huge deal. largest i.p.o. in history, great shot in the arm for the capital markets and for the united states. >>dagen: but people were cautious and we heard from some of them out here in the streets. they were taking a wait-and-see attitude about buying the stock. >> are you excited about facebook going public today or trading? >> no, i will wait to see what happens before i put any intention on it.
4:03 pm
>> it is everhyped. >> i thought but decided not to. too much hype. i thought it could take a dive. >> what we do know the size of the offering was up by 25 percent this week priced at high range so you did not get a "pop" but you got a whole new crop of millionaires and billionaires. back to you. >>neil: you are right, 1,000 of them. imagine that. great job, dagen. no big pop for facebook but remember, this kept getting ratcheted up ahead of the offering. first they talked about it being offered in the 20's, and then 30's and 34 and then up to $38 a share. so while investor could be disappointed, market watcher says all of this is actually a good thing. explain, ed. >>reporter: well, what we don't want is we want markets to
4:04 pm
be realistic. and, what we did not want, is for something to be a bubble. if this stock went much higher than where it opened and i think it will go a lot lower from here in the short run, there has been some support, we do not want to see unrealistic prices, we want to see prices that are realistic in the market, and we do not want people getting in there and thinking it is like gambling, and i am very happy this thing did not pop, it is 40 percent overvalue, make it simple. right new the stock is 40 percent overvalue based on expected earning and i don't know if that is a real good number. it will trade down probably down into the low 30's the next couple of weeks. >>neil: but if it is 40 percent argued it should be worth in more than the low 20's. >>guest: some people could make that argument especially if light of what is going on in the world economy right now. that could change dramatically, if certain things take place, and 21 daze after a stock goes public they can start making research reports cop out and new announcements so there is a
4:05 pm
quiet period, still, but based on what we know right this moment, this stock is about 40 percent overvalued, and i am happy we did not see a big pop. >>neil: there was such high expectations built in to this offering, and, maybe, just the social enormity, and the fact that there are 900 million users and it was is incredibly hyped, it is hard to live up to specific teases like -- expectations leave that and i do wonder what the company brought this on itself. or whether those who were bringing it to this day brought it upon themselves, that when you have so many shares out there, and ahead of the fact, ratcheting up the price, it is almost impossible to see them certainly do the double and tripling thing? >>guest: well, it comes down to satisfying the valuation. institutions do not look at popularity of a company but at the value of a company. so if you look at the best
4:06 pm
i.p.o.'s on day one or mostly companies you have never heard of because the valuation it was placed on them was dramatically low and the demand was very high. again, the popularity does not equal price performance. and the media did get ahold of it and everyone was talking and you could not go anywhere without talking about it but that does not make it will make it a good day one which we saw today. >>neil: if you are right on this until it stabilizes down, that would be keeping with a theme, with i.p.o.'s of any sort, that they start strongly, and can't maintain that, and they sort of struggle, and they sort of get a beach led and they are, if they are good, they are off to the races, amazon comes to mind and e-bay, and microsoft comes to mind. >>guest: i will they in another in the, about ten days from now people will build a borrowing of shares and "short"
4:07 pm
the stock the 90 days later the lockup comes off, so, we will just keep seeing a lot of selling treasure and individual investors do not make stocks rise. institutions move the market. and institutions are the ones that do not like this company. so, be careful. buyer beware. the person that bought it at $45 will be real sorry in a couple of weeks. >>neil: thank you, ed, when you short a stock you are trading based on the opportunities you see if it for go down, you make money. when you bid on that stock going down. that is what shorting is about. and you might also hear about individuals who have large odd lot positions that sort of thing, and that, too, is betting on that sort phenomenon. and, today's debut may not have been stellar but this are a lot of facebook employee whose got richer. and now, lauren, just how much? >> going from a college dorm room just eight years ago to now
4:08 pm
the biggest technical i.p.o. the world has ever seen is remarkable and in the process, facebook has minted 1,000 newly rich millionaires. you buy a big home, then, and fancy cars and that is what is happening. zuckerberg, the c.e.o., he just bought $7 million home at the headquarters in california. and, in fact, both managers say they have seen in the runup to this i.p.o., they have seen real estate prices jump by so percent and the car dealerships they are all out there hoping to see their cars open many of the millionaires' driveways so that is a trend that has been noted and will continue to be noted but millionaire or not, facebook trade system employees, like millionaires, look at what you get when you work at facebook. you get barbecue checks, fitness
4:09 pm
centers, onsite doctors and dentists, and even laundry facilities. sound as lot like google. so, all of this is pretty good for the state of california, the cash strapped state. over the next year the california state budget office says they expect $2 billion added to their economy because of this. and that is it great me. i will probably go home to do my laundry today because we don't get it here at work. >>neil: well, there are sinks. lauren, thank you very were. will california's high tax rate forced the new millionaires to plea? michael reagan says if they are not packing yet, they should be. michael, what is interesting about this, when the folks at sacramento put out a budget that factored this in, that factors pay for profits into real money they can use to close a budget gap and it is not real money.
4:10 pm
a last the guys are locked up and they cannot cash out yet so the state is taking a couple of leaps there. >>guest: well, they have been doing that for a long time playing three card monti in sacramento. the deficit in january was $9 billion last wreak it was $16 billion and it is going toward $20 billion. the answer is, to raise taxes. so all of the millionaires if jerry brown gets what he wants in november, on the ballot measure, each of them will have 30 percent increase in their taxes. now, what do you thing they will do? most of the people who are making those kinds of monies are now leaving the state, corporations are leashing the state, apple left the state, and i wrote not be surprised if facebook left like the co-founder. >>neil: there is always that fear and that was the case with so many of the start-ups that make a big wall street debut, in a high tax state, and oddly
4:11 pm
enough they stay where they are. i don't know why. and there is an allure to being in silicon valley, you are surrounded by like-minded very smart people, but i would be more worried about those who get a lot of money and do not have the impetus to work anymore, but do you think that many with decide, i have my money, i am being taxed enough, i am out or is the state betting that rarely happens. >>guest: that esn't rarely happen. four million have left the state in the last 20 years, four million that moved in, and five businesses a month or leaving the state of california, and if you want to visit your california business you have to go to texas, you have to go to utah, arizona, and someplace else. you have a governor who three weeks ago signed the executive order saying that every 10,000 square foot government building in california by 2025 has to be
4:12 pm
self sufficient and provide their own power source. it has to the wind or solar. we have -- it is out-of-control in the state of california. businesses are not coming here. businesses are leaving. not only are they leaving they are taking their work forts with them when they leave. that is why when they looked at the receipts from the taxes in april, up if sacramento, they had another shortfall. that is what going on. in this state. the answer is not raising taxes by 30 percent. youthful young couples are leaving the state of california and going elsewhere and providing tax dollars to the other states, not the state of california. the benches are -- the beaches are pretty. but that is all. >>neil: nice mountains and big trees. >>guest: but --. >>neil: i was thinking of your dad --. >>guest: it is the "haves" and the have nots.
4:13 pm
>>neil: when microsoft debuted a favorable market, and now the wind is confronting a lot of the guys, more regulations and potentially higher tacks and i am not even addressing the california issue but the national issue. are you worry the? >>guest: absolutely and the president of the united states the other day changing the biographies on the president but for gerald ford and putting in to my father's biography that ronald reagan would have supported his warren buffett rule. i tweet add challenge to the president of the united states, saying, i will debate the president of the united states any place, any where he wants to, one-on-one, on ronald reagan supporting or not supporting the buffett rule. i am still waiting. i will not use a tell prompter. >>neil: celebrating a sell off
4:14 pm
today on one side of the market. ♪ [ engine turns over ] [ male announcer ] we began with the rx. [ tires squeal ] then we turned the page, creating the rx hybrid.
4:15 pm
♪ now we've turned the page again with the all-new rx f sport. ♪ this is the next chapter for the rx and the next chapter for lexus. see your lexus dealer. on my journey across america,us. i found new ways to tell people about saving money. this is bobby. say hello bobby. hello bobby. do you know you could save hundreds on car insurance over the phone, online or at your local geico office? tell us bobby, what would you do with all those savings? hire a better ventriloquist. your lips are moving. geico®. fifteen minutes could save you fifteen percent or more on car insurance. of how a shipping giant can befriend a forest may seem like the stuff of fairy tales. but if you take away the faces on the trees...
4:16 pm
take away the pixie dust. take away the singing animals, and the storybook narrator... [ man ] you're left with more electric trucks. more recycled shipping materials... and a growing number of lower emissions planes... which still makes for a pretty enchanted tale. ♪ la la la [ man ] whoops, forgot one... [ male announcer ] sustainable solutions. fedex. solutions that matter.
4:17 pm
>>neil: two cities. two different tales. in california, celebrating newly minted millionaire status, and, yes, chicago, on right, thousands demanding a robin hood stack on stock trade, seeking to punish all stocks on wall street. can group is doing more for america today? governor huckabee joins us. >>governor huckabee: great to see you. >>neil: interesting. >>governor huckabee: and to see the young people out there who are becoming millionaires today, and you wonder how long it will be before they become conservatives and republican once they start getting hit. not only with the high taxes but with the demonization of the fact they have become overnight wealthy. now, when i say overnight some have worked for years to get to this point.
4:18 pm
and they have taken some risk and they have had the right talents and i don't begrudge them i wish it were me. >>neil: i looked at some of the thoughts this morning, nasdaq offering and they were out in california for this, and, then, after the opening, which was really out there, you had these shots of small groups of them talking and i could swear, if i could put bubbles on the conversation, i want my house on the ocean, no, what about you? i want to be across the secret from the ocean, they are already planning how to enjoy the riches. but, but, but, they don't know there is a government to say nothing of california but the federal government that want as big chunk of that. >>guest: and the people in chicago are part of that group that think that the government ought to go in there and take it away because surely if you have made money you could not have done it honestly, and, why --. >>neil: especially this way. this is what, in that crowd, the chicago crowd, they abhor making
4:19 pm
the money on wall street. >>governor huckabee: it would be interesting to have some of the very young still in their 20, zuckerberg is 28, $19 billion! that is incredible. but that is capitalism. and if people are willing to pay that kind of money to buy a stock, that is the way it works. >>neil: i don't know zuckerberg, but at the lot of the folks in silicon valley, those very wealthy folk, they say that they like the president and they think they should pay more. but i think there is a difference between billionaires and just the $250,000 and over. >>governor huckabee: there is. look, face it, zuckerberg could pay several billion and it cannot affect his lifestyle. >>neil: and --. >>governor huckabee: there is a point if you are warren buffett, bill gets you did not
4:20 pm
care if your taxes are raised. but if you are a small business owner your gross income is $500,000 but out of that you pay all your employees and all the things you pay, you are not wealthy but you will get good machinized by the president, by the democrats and joe biden will say you don't have a dream. >>neil: you are on a short list if vice president. >>governor huckabee: you must have misunderstood, i have not had the phone call. >>neil: no, i didn't. wanted to led you know. >>governor huckabee: thank you for bringing that up. >>neil: that does it here. catch him this weekend i will impair as him during the break. my mother said, "well, maybe we ought to buy this hot dog cart and set it up someplace." so my parents went to bank of america. they met with the branch manager and they said, "look, we've got this little hot dog cart, and it's on a really good corner. let's see if we can buy the property." and the branch manager said, "all right, i will take a chance with the two of you."
4:21 pm
and we've been loyal to bank of america for the last 71 years.
4:22 pm
4:23 pm
>>neil: you are looking live at the nasdaq market site where shares barely budged. where do you think the tock is
4:24 pm
going? you can go to our facebook site and take our poll, when do you think facebook shares will be? how far do you thing they will go a year from now and while you are there hit the "like" button. if you have bad things to say you can shift it over to o'reilly at facebook. forget what they did not do today at facebook look what the dow did not do, stocks capping off the worst week this year, and the dow is close back to even on the air. and we have five greek banks getting clubbed today with the downgrade. this after twos do spanish banks yesterday, and now president obama hosting leaders at camp david to hash out solutions to europe's growing debt crisis to avoid the forecast. john brown said the european problems are weighing on american. he senators in parliament and all those smart things. good to have you. >>guest: great pleasure to be
4:25 pm
here. >>neil: i have to give you credit, a long time ago, a real long time ago, you said, this club was unravelling, the european club and now proof that the greeks and the spanish, it is happening. >>guest: sooner than a lot of people thought. but powerful governments have been keeping it together and we see the unravel of the euro. >>neil: why does that matter to us? >>guest: it is the world's second currently and people have diversified from dollars to euro and that endangers the entire monetary system and that is when you will see gold explode. they are coming into dollars and the dollar is in trouble, too, a huge feared currently. >>neil: but we are only benefiting in the united states because we have our own were problems. we are default safety. >>guest: that is why facebook is such an interesting thing with zuckerberg, he has shown the world this capitalism still is working in the united states,
4:26 pm
creating huge wealth if america with jobs, taxes and everything else, but he has done a most vitally important service to mankind. or democratic freeman kind and that is to increase the networking and this is a huge transfer of power from disreputable politician jazz had for 50 or 60 years that do not have the interest of the country at heart but now people have a far bigger say in politics. like they did in egypt, tunisia and libya, and it is spreading to european europe and the united states. >>neil: and these sites that spread like wildfire and got the small isolated protests growing do what was a european even. but say greece is out of there. italy could follow. more like spain after that. then the whole thing is unravelling. >>guest: yes, and then the worse to leave is going to be
4:27 pm
germany and this weekend the at g-8 they will put germany under pressure to do what the fed has done. >>neil: if they leave it is not a club. because they are the only one --. >>guest: exactly, germany believes in hard work. americans believe in giving people as they want money, and depreciate. >>neil: but if germany, the euro helps germany if they eleven they go back and then what? >>guest: it helps because germany was a cheaper currently but they still sell well because they make great products. >>imus: do the brights -- brits feel better because they never join? >>guest: of course. like taking the pints from the average pub and taking a pound out of the pockets was a no-no and people like the independent party in the united kingdom exposed these things they have been fighting, and, now, because
4:28 pm
of facebook this is going to become much more open and transfer huge powers to the public from politics and you will see a great rise in independent parties, independent politicians, both in england and in the united states. >>neil: good stuff, great seeing you in person. >>guest: thank you so much. a good time to be here. >>neil: you saw this a long time before any of us. >> do any of you remember this? >> it is time to end the taxpayer giveaways to an industry never more profitable. it is only fair to ask, an oil company or a corporate jet owner, that has done so well, to give up that tax break, that no other business enjoys. >> i do have a problem with unwarranted taxpayer subsidies that we have been handing out to oil and gas companies to the tune of $4 billion a year. >>neil: all right. the gist is: oil companies like exxonmobil making money badly. technical companies like apple or facebook as the gentleman pointed out, they make money
4:29 pm
that is good. what is the difference? money is money, right? it is called collective outrage according to my guest. i did not expect signs saying "we love face book." why? why? >>guest: the most serious answer is politics, and political fundraising is number one. in 2008, neil, the tech industry trented about $9.2 million to obama so they are if his back pocket and he wants to keep them this so he will not go after their profits even though it is completely disingenuous and oil companies pay about 40 cents on every dollar they make. apple pays somewhere between 10 cents and 20 cents on every dollar so the disparity is striking. but obama and the left will not go after the technical companies. they love the money coming in and in 2008 the technical
4:30 pm
companies gave more than the entertainment industry which is kind of a striking turn of events. >>neil: is it the technical companies' fault in or to their credit, this a lot of their executives or a lot of their people, are maybe owing to the creative types at silicon valley tend to be democrats, a majority of them. and, so, they are not critical of the president, if anything they are supportive of the president and democrats and supportive even, the brits, of paying more taxes, so they do not get fingered because they are happy to pay more. >>guest: well, you know, they are not happy to pay more a lot of profits are overseas. and apple is brilliant about basically having on their headquarters in nevada but all of their operations in california. so they are very strategic about avoiding taxes. i don't believe for a second when they say tax us more. but, part of it is also that the technical companies are wildly
4:31 pm
popular. you look at google. they have an 82 percent approval rating with the american people. facebook has with all of its flaws, 58 eyes, something like that. so, they are very popular and oil companies are the traditional boogie man of the left. >>neil: it is hard to "friend" exxonmobil. >>guest: it is and you watch the pump and the prices have doubled under obama. it is an easy target. >>neil: good job. the last man to walk the moon is here next. does your phone share what you are seeing and hearing right now
4:32 pm
with the touch of a button ? droid does. does it post it instantly to facebook with sound ? droid does. droid with color for facebook. it's the ultimate status update. get a droid razr maxx by motorola for only $199.99. and i thought "i can't do this, it's just too hard." then there was a moment. when i decided to find a way to keep going. go for olympic gold and go to college too. [ male announcer ] every day we help students earn their bachelor's or master's degree for tomorrow's careers. this is your moment. let nothing stand in your way.
4:33 pm
devry university, proud to support the education of our u.s. olympic team.
4:34 pm
4:35 pm
>>neil: houston, we have a problem. 43 years after wowing the world with these images the world is now awed by something else. facebook. and that is one astronaut refusing to click the "like" button. a walk on the moon, and gene, you were the last man to walk the moon 40 years ago in december. but it was 43 years ago, today. >>guest: today, apollo 10. headed to the moon. i weapon telling neil armstrong. the other n neil. someone had to paint the white line in the sky.
4:36 pm
>>neil: you are a modest guy but i wanted to get a sense, tomorrow, this space x thing is a private space venture but everyone is talking about it. what is it? >>guest: it is great. everyone knows that the we private sector can do as well or better and probably less expensive than the government. >>neil: but it is not totally private. >>guest: it is not private. they have retermed the word "commercial." >>neil: it will deliver stuff to the international space station. >>guest: well, that is the initial goal to deliver cargo to the space station right now that is the only marketplace. if the space station does not exist after 2020 this is no market place. >>neil: is our marketplace for now is being glorified delivery service? >>guest: well, you know, this is the first time in 50 years we have not been able to put an american in space. think about that. >>neil: how do you feel about that? >>guest: not very good.
4:37 pm
we have come full circle. we wrestled in the 60's we wrestled leadership in space away from the then soviet union. and 50 years ago we have given it back to the same people. we call them russians now but it is the same people. our leadership, our diplomatic, political leadership --. >>neil: but this has been going on for a while through democrats and republicans we have been letting it slide away. >>guest: well, you can go way back to john f. kennedy, space has been bipartisan and it is today. we have testified in front of congress on these separate cases, and along with armstrong and we have written our position on things and space is bipartisan. it does not matter what size, shape or color, the congress of this country of ours and the country itself, supports space. now, it is not an issue --. >>neil: the cynics will say
4:38 pm
john f. kennedy was trying to fight off the russians, and, whatever --. >>guest: stimulus, cold war, and the next war will be with the chinese every penny from day one on the space program, through today, is less than half of what we spent on a stimulus last year. you pay less than one half of a penny to support the space program. >>neil: i was thinking, and we were very excited about you being here, and we are looking at this online site, a great site, with 900 million, but when i was a kid we were watching you walking on the moon. >>guest: you were not even in diapers. >>neil: i remember well. i wanted to be an astronaut i told you the story i went to nasa and looked at the capsules and realized i could not fit and fived on. all kidding aside, that was big.
4:39 pm
i felt so sad when we were giving all these news networks coverage to, remember the shuttle, hitching a ride, so that it could we it is on a boat and tourist could gawk and we used to look at you guys going to the moon. so sad. >>guest: it is not what "us" guys did, what i did, it is what we did, 450,000 strong people. we, i was tip of the arrow. i didn't get there alone. 450,000 american --. >>neil: but it captivate addmation and now we captivated by a site that says are you going out for dinner tonight? >>guest: i tend to use it. >>neil: are you on facebook? >>guest: i am not, i have kids and grandkids on facebook. >>neil: do they tweet? >>guest: like a bird, i don't know.
4:40 pm
i guess they do, and i tell them please don't, don't, don't put my picture. i don't want me know where i am and what i am doing. it is a whole new phenomenon. >>neil: you have to feel sad that generation that did what you did, accomplished what you did, conquered worlds, and now by comparison we are whooping up this website. ex-what goes around comes armed, these are young entrepreneurs and god bless them, if a kid in college eight years ago can come up with face book and today is worth $20 billion, more power to him. that is what america is all about. are you okay with the hoodie thing? >>guest: the hoodie thing? >>neil: he doesn't wear suits. >>guest: i am a generation and a half or two or three older than the kids. my granddaughter talked to me the other day, soon-to-be 20, and she can do all this stuff,
4:41 pm
too, and we were talking at breakfast on mother's day and i mentioned the name telegram and her face went blank and her face went blank. what's a trillion -- telegram. a father had two daughters in the back seat it is next to them and they are not talking they are texting. texting. have we come, is that the result? >>neil: you talk with dad. no, you talk with dad. gene, always a pleasure. 43 years ago in december. >>guest: we will do something when that comes up. >>imus: gene pushed me to be an astronaut. he regretted it. they tried to get me in that capsule. >>guest: still looking for volunteers. you would probably get down there tomorrow and still make it. >>neil: gene, thank you. this guy is more friends todays this guy does, too, governor romney getting a huge pop if --
4:42 pm
in like ability. .
4:43 pm
every communications provider is different but centurylink is committed to being a different kind of communications company. ♪ we link people and fortune 500 companies nationwide and around the world. and we will continue to free you to do more and focus on what matters.
4:44 pm
4:45 pm
>>neil: facebook is trying to gain new investor friends and today governor romney getting new friends, governor romney see his own favorability at a high of 50 percent. what is the governor doing right? my guest knows. what do you make of that figure? >>guest: well, first of all, the primaries are over, he is not getting bashed in each day by a budge of other republicans running against him for president. so, the migraine headache on the republican side is gone away. and, really, despite a huge ads on the democratic side, we have not started into the general election progress when we will see a lot of negativity and the other thing, because there is this pause in the campaign, romney is letting his guard down
4:46 pm
a little bit, and you are starting to see the person behind the candidate facade and they all have a candidate facade. >>neil: and they all have ads. now, after hearing so many for the president, i guess, the romney campaign is calling this the first kickoff ad of the season. respond, quickly, to this ad. >> what would a romney presidency be like? day one. president romney approves the keystone xl pipeline. creating thousands of jobs that obama blocked. president romney introduceds tax cuts and reforms that reward job creators and not punish them. and president romney issues ordered to replace obamacare with common sense health care reform. that is what a romney presidency will be like. >> i approved this message. >>neil: what do you think of that? >>guest: first, it was very smart. it was positive.
4:47 pm
i didn't know that political consultants knew how to do positive ads anymore. my jaw almost hit the floor. we actually had a substantive issue-based ad that did not attack the opposition. this is useful for him because after all, people want to have a sense of what he would do in the oval office. he has to pass the oval office test. people know him to a senator degree but only vaguely. millions and millions of voters have not been paying close attention to the primaries because they don't vote in primaries. i thought that was useful and the subjects selected were appropriate subjects. they are things that a president can do or try to do verily in a term. >>neil: this goes to the very first day of his term if he were to be elected. but you remind me how important the presidential debates were, important if ronald reagan with jimmy carter, and just to show whether people who were leery about conservatism could see him
4:48 pm
as president and he didn't scare any people in the debate, and he was off to the races. but how important will that debate be for governor romney? he obviously is the lesser then figure. >>guest: well it it is a close competitive election, as i expect it to be, the debates actually could be quite important. we always say, look, people just tune in to the debates to cheer for their side but this year it is a battle of the bases. how enthroughic -- enthusiastic is the democratic base versus the republicans. the republicans are help enthusiastic about voting against president obama but need another layer. they have to be comfortable with their candidate, to spend that extra hour canvassing in their neighborhood or calling to their friends. so, a debate cannot help with that. it can make a difference and if you can come up with that great question, that key trays, as ronald reagan did, as others have done in presidential debates, it can make a big
4:49 pm
difference. >>neil: thank you, have a great week. same to you. facebook insider seeing their wealth surge big time today. is that why they are a big legal target? it is time to try this. 360 inve. e-trade 360 is the world's first investing homepage that shows you where all your investments are and what they're doing with free streaming quotes, news, analysis and even your trade ticket. everything exactly the way you want it, all on one page. transform your investing with the all-new e-trade 360 investing dashboard.
4:50 pm
4:51 pm
4:52 pm
>>neil: and facebook slapped with $15 million lawsuit as it makes its big wall street debut centering on privacy concerns. is face book targeted because it is now flush with all of this money? or do they have a case? let's ask our legal eagles, fox news legal analyst lis wiehl and attorney, gen. >> they do not, the timing sin credible this comes on the eve
4:53 pm
of the i.p.o. it reeks, smacks whatever word you want to use, of lawyers trying to get rich, trying to bundle the people together with minimal complaint. when you sign up for facebook you sign a privacy, i looked at it, made sure it was all there, and it says right on facebook when you sign up built this is going to be public information. we will physical you. or think that can happen. when you put something on facebook it can be followed. >> that is not exactly true. what they are accuses of doing is tracking the users' communication and browsing history when they log off which is very different than, saying --. >>neil: do they have a case? >>guest: i do, this is a credible case and the complaint is compelling and i agree it is not a coincident with the timing but this lawsuit existed prior to yesterday or today. it was there. this is an amended complaint that has been filed, and the court allowed fume routes
4:54 pm
actions --. >>neil: when you sign this, you are agreeing to what? >>guest: if you look at the small print in the policy, the facebook policy, the privacy policy, at the end of the policy, it says, that this is going to be, this is public information, and unless you put a privacy icon on it, this is public. meaning, you can be tracked even when you are off. second, they settled a lawsuit in 2011, facebook, where they said, okay, we will have independent auditors part of the lawsuit, tracking us all of the time. so it just does not make sense. why would facebook knowing the independent auditors are watching their moves, do something like that? >>guest: but the complaint alleges they are not complaining with their own policy and their own privacy --. >>neil: that is a tough thing to prove. >>guest: they are asserting the cookies, and i am not an expert on electronics. >>guest: you don't eat them. >>guest: the cookies into and allowing facebook to track
4:55 pm
bruceing history even after you sign off. and even --. >>neil: well that you would have to prove. say they can prove that. say they can prove that. does it give facebook the power to do that? >>guest: it does not say in the policy that they will not be tracked after you are off. if they said in the policy, yes, once you are off, witness you have legged off we are not tracking you, you are right, they have a case, but it doesn't say that. >>neil: isn't that a risk with all the social networking sites? isn't that a legitimate risk? >>guest: well, just because we are in a new digital area, we need to have a balance. we force a great many of this at different times but, at the same time, we cannot just say, well, you know what, we have if privacy, so --. >> you are sharing your information with a billion people, and that is, your privacy is out there being shared with a billion people
4:56 pm
unless you put privacy icon on, but if they put the icon on, that is different. most people think when you click and you log off the activity is not being --. >> the policy has to be rewritten, then. >>neil: here is what else is, mark zuckerberg, this issue could be weighing on him but i think this issue weighs on him mother, today she worth $19.25 billion. so he could pay the entire $15 billion, and still have $4 billion left over. [ mechanical humming ]
4:57 pm
[ male announcer ] we began with the rx. ♪ then we turned the page, creating the rx hybrid. ♪ now we've turned the page again with the all-new rx f sport. ♪ this is the next chapter for the rx. this is the next chapter for lexus. this is the pursuit of perfection. to help protect your eye health as you age... would you take it? well, there is. [ male announcer ] it's called ocuvite. a vitamin totally dedicated to your eyes, from the eye-care experts at bausch + lomb. as you age, eyes can lose vital nutrients. ocuvite helps replenish key eye nutrients. [ male announcer ] ocuvite has a unique formula not found in your multivitamin . [ male announcer ] ocuvite.
4:58 pm
help protect your eye health. you walk into a conventional mattress store, it's really not about you. they say, "well, if you wanted a firm bed you can lie on one of those. if you want a soft bed you can lie on one of those." we provide the exact individualization that your body needs. wow, that feels really good! once you experience it, there's no going back. at the sleep number memorial day sale, save 40% on our innovative sleep number silver edition bed-for a limited time. only at the sleep number store, where queen mattresses
4:59 pm
start at just $699. >> dana: hello, i'm dana perino with andrea tantaros, leslie marshall, greg gutfeld. this is "the five." ♪ ♪ >> dana: it looks like some people in the media might be threatening mitt romney over his faith. what we're about to show you comes in the wake of a superpac to invoke obama former


info Stream Only

Uploaded by TV Archive on