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tv   Varney Company  FOX Business  January 15, 2013 9:20am-11:00am EST

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and ronnie van sant would have been 65 today. ♪ if i leave here tomorrow ♪ ♪ would you still remember me ♪ ♪ well, i must be travelling on now ♪ ♪ there's too many places i've got to see ♪ ♪ if i stay here with you girl ♪ ♪ well, things just couldn't be the same ♪ ♪ 'cause i'm as free as bird now ♪
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♪ and this bird you'll never change ♪ ♪ oh, and this bird you'll never change ♪ ♪ imus in the morning ♪ >> no negotiation, no compromise, no spending cuts, and the debt mess is all the republicans' fault. the president, yeah, he's still campaigning. good morning, everyone, it was an aggressive president obama, he wants a blank check tomorrow and if he doesn't get it america could default, he says. it was a provocative and misleading statement. on the gun issue, the president will go around congress, 19 measures, push through with executive orders to be announced
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as early as tomorrow. lance armstrong admits he lied, now he will testify or rat on his colleagues. forgiveness? after all that? and facebook reveals the mysteries moves eight hours from now, it had better be good. "varney & company" is about to begin. [ male announcer ] where do you turn for legal matters? maybe you want to incorporate a business. orrotect your family with a will or living trust. and you'd like the help of an attorney. at legalzoom a legal plan attorney is available in most states with every personalized document to answer questions. get started at today. and now you're protected.
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>> a big story of the day is the power of the president. he's grabbing it and controlling guns is the issue. joe biden meeting house democrats, laying out the measures the white house wants with or without congress. reportedly there are 19 executive actions for the president to impose, unilaterally. issue an executive order in congress is bypassed. they reportedly include universal background checks, banning high capacity magazine chips and an assault weapons ban, all of that is possible. that's the federal level. at the state level, new york has
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already moved. a bill is expected to pass today that is being called the toughest gun control law in the country. the proposals call for tougher assault weapons ban and restrictions of sales on guns and ammunition and yes, tougher background checks, all of this appears to be in favor with a small majority of voters. a new washington post, abc news poll, shows 52% more likely to back some kind of gun control after the shootings in newtown, connecticut. a lot of people still agree with the n.r.a. another poll shows 55% shows armed guards in schools. 42% oppose that. president obama will unveil his full recommendations on gun can control later this week and executive orders could come very quickly. we brought you the story yesterday. congress says, climate change is real, and it is our fault. humans, to take the blame. and first please take a look at this video, thunder sleet, turning snow in dallas, texas this morning.
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a winter weather advisory is in effect until 10 a.m., flights delayed, hundreds canceled and airlines say flights will resume sometime this afternoon. that's dallas, texas. we get facebook's big mystery announcement today. could it be a new search engine, a facebook phone? it had better be good because the stock has run up as the buzz mounted. plus, a new sign of how much the pc market is really struggling. dell to go private, question mark? we'll have the opening bell for you right after this.
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plus get this document shredder free-- but only if you act right now. call the number on your screen now! >> a couple of numbers from the government in the news background today, but they probably will not affect trading one way or the other. point number one, the pro he dueser price index was down .2% in the latest month. year over year, up 1.3%, in other words, no inflation at the producer level. retail sales for december, not bad, not great. up .5. strip out car sales, and you've got a gain of .3%. that's not exactly a gang buster christmas now, is it? nonetheless, those are the numbers and that's what we've got. in my opinion, the next big number that will truly affect trading will be the gdp numbers. and that's when we find out what kind of economy we've got in the
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fourth quarter of last year. that will point towards how we're going to do in 2013. i suspect that that could move the market. all right. the bell is ringing, and as you know by now, if you're a regular "varney & company" viewer when the bell stops ringing, they start trading and we're expecting, what are we expecting? we're looking for a pretty flat market and i hate to keep saying this, but a pretty flat market. the dow closed yesterday around 13,500 and we're opening down 3 points at 13504. the opening trend is down. i looked at the futures and you can expect maybe a 40 or 50 point loss in the early going. no big negative that's out there, just a general drift away from 13-5 on the dow. we are in fact, just a couple of hours away from facebook's big announcement. that comes at one o'clock eastern. so, nicole, i am told that the big news could be a new search engine, could be. i'm not going to speculate on that, but i want to know where
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the stock opens this morning. >> that would be very big news and the stock is down 1 1/4% right now. clearly we've seen facebook running up this month, in anticipation of, obviously, this big event and it's coming up shortly, but right now, still above $30 at 30 and 70. i've seen apple go by below 400. 488, 489. >> that's back from 11 months ago, but i have a couple of calls on apple we can talk about. stuart: i've got it at 497 right now.40. down about 1%. and we'll get back to that in a second. dell, the stock moved higher yesterday on talks that the company could be taken private. the pc market is falling dead flat. where is dell? >> dell is up, clearly a big run-up yesterday after stock halted up over 10%. and the stock has been down over
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52 weeks, down over 30% and now they're talking names like epg and silver lake possibly teaming up with other investors such as pension funds. stuart: maybe somebody will way $13 bucks a share for it. you never know. the dow is down 60 points in very early going. okay, i want to get back to facebook and that big mystery announcement. joining us now is chris, the silverback founder and chief executive officer. the let's go at it. i hear it could be a search engine from facebook and you say what? >> it could be, that's a goo indicator. the fact that they're having this announcement is wonderful moves, it means that mark zuckerburg put on his big boy hat and a he needs to makes announcements and thinking see what we've built, it's not hardware. there's speculation it's going to be a phone. stuart: are you dismissing phones? >> i'm going to go ahead and dismissing phones although i'd
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love to see something that i could hold. when mark zuckerberg says mai'm building something, he's talking within the facebook ecos system. i would love to see a mobile ad network. stuart: you've got to straighten me out about about this a mobile ad-- >> what most people don't realize 14% of facebook's ad revenue is mobile. and this is why people say, hey, they need to build their own phone. but i don't think that this is a direction that they're going to go. they're trying to monetize the mobile content and we believe that-- >> what would a mobile ad network do? >> facebook was built on the premise that they would allow individuals, publishers and application developers to make money along with them, on the facebook platform. we believe that this is the zeitgeist behind the network. and everybody else in the ecos
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system. >> create the network, and everybody gets rich off of it. stuart: and everybody makes money out of it. >> this is just my opinion and where they're going. it's also what i'm seeing-- >> if that was it, if it was that, it was a mobile ad network, as you put it, you think that's a big winner? >> i think it's a big winner. i still think, however, and for the general public an announcement like this is a little risky, because people are expecting something that they can grab, that consumers can purchase. stuart: tangible things. >> previously we're used to apple making big announcements like this, the big new product and you get to see something and hold it and have an interaction, now, experience with it. i don't see this being that type of announcement for facebook, but i do see it being a good thing for the facebook. stuart: all right, general question. facebook, to me, i'm not a user, period. >> okay. stuart: facebook seems to me a bit like apple in that. >> right. stuart: it's losing some of its cool. what do you say. >> losing the luster, we're
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hearing this, for the younger set. high school kids, pre-teens, that facebook has become a little bit like the living room. right? use this had analogy before. stuart: do you agree it's losing some-- >> i believe, they're still there, but not interacting as much as they used to. they're using social chat. snap chat, pardon me. tumbler and some are migrating away from twitter and they're still on facebook, happy faces, the cool kids don't want to hang out in the living room, they want to hang out in the basement. stuart: so this announcement should be geared towards investors as opposed to users, right? >> i believe so and that's where the sentiment is going to be most likely a bit of a disappointment. not going to see the iphone, not going to see the product for consumers. as i said, mark zuckerburg, responding to the fiduciary, and addressing the market. stuart: you've gotten seconds. >> oh, 0en the spot. stuart: for $30 and small change, 30, 30 and change.
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you buy it? . before the announcement. will they take a flyer, would you do it? >> i think i would. stuart: 30.87. >> i was in august at 19 and bullish and facebook and i'm still bullishen on facebook, a billion users, not going anywhere. stuart: do you own it, disclose, please. >> i do own it. stuart: we want to know that. >> thank you so much for having me. stuart: i want to bring in nicole, i want to talk to you, nicole, about coolness because you just went on facebook, you just opened up the facebook page. is that the right expression? tell me, is it cool? >> five years later, well, i think it's really cool and i think a lot of people will stay on it, however, i think with the younger set, they are keeping their facebooks, but moving on to other things, such as instagram which facebook spent a billion dollars on. listen m my aunts, uncle, grandma are on facebook, i think i need to be on something else as well. stuart: good point, yes, nicole.
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>> and-- my kids wouldn't be caught dead on any website that i was on. it's that simple, go away, dad. simple as that. >> i love it and i thank all of our varney viewers writing to me all the time and i love it. i look at it every day. stuart: all right. i've got to go back to apple, open below 500 minutes ago, give me an update, please, nicole. have you got it? >> we saw below the 500 mark right now. still under 500. stuart: hold it, 492. >> talk about a black eye on a day when facebook is a focus. on the one hand nomura cutting, and stern and baird buy on the opportunity. earnings should be strong, they're likely going to beat the street with earnings per share, so, three analysts talking positively, it's a push-pull. stuart: i've got chris still with me, would you care to issue on 492 apple. >> yes, i'm going to buy it because it's so beautiful, apple is something something that i
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use, obsessive about, i think it's fantastic. stuart: all right. i've got to disclose, do you own it? >> i do. stuart: and by the way, i've got a new ad from coca-cola, it addresses obesity, including the high sugar levels in many of coke's drinks. roll the ad, please. but beating obesity will take action by all of us, based on one simple common sense fact. all calories count, no matter where they come from, including coca-cola and everything else with calories and if you eat and drink more calories than you burn off, you'll gain weight. stuart: oh, yes, you will. and critics though are calling the ad damage control. an attempt by coke to counter the widespread belief that sugary beverages contribute to obesity. he nicole, you're still there, please. >> yes, i am. stuart: you saw the ad, what do you think. >> i think a lot of things. first of all shall the critics think by doing this ad they're taking away the fact that sugary drinks bring on obesity. i don't think so, i think that coke is doing a fantastic job. they've decreased the calorie
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count of these things, they've decreased the number of sugary beverages in the schools. they've decreased the sizes, portion control, if you have less. put the number of calories on cans and promoting exercise and telling you that every calorie counts. what else can this global company do to send you the message. look, there's stuff out there, have a little less. stuart: you're going to get messages on your facebook page and people want to know how you really feel. excellent stuff. thank you very much indeed. here is what we've got for you, new at ten. two indicators that say a lot about our economy. first off, a lot of people tapping into their 401(k)'s before retirement. billions of dollars being taken out to pay current bills. another one coming at the top of the hour, a number of working poor people growing. millions of families , but they're working at the same time. and that story new at 10
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precisely. time is money, 30 seconds, here is what else we've got for you tuesday morning. president obama readying 19 on gun control. the judge will tell us about it. and lance armstrong finally admitting to doping, now he's come clean, is there any way his image can be rehabilitated. i say no way. and thanks to obamacare, the cost of your health insurance could go up as much as 50%. find out why you will be paying a whole lot more t all right, seven earlies, here we go on a tuesday morning. the circuit manufacturer, multi-fine line, less money coming in, the stock is down. retailer, goredman's never heard of them, but gordman's lowered its outlook. and radioshack ended its unprofitable mobile phone partnership with target. dead flat. the clothing retailer express
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raised profits guidance. that is up. nicole's favorite company lululemon, the yoga pants maker, down. and shoe carnival, what's that, a cruiseline or-- what is it? it's a shoe company. all right. it's on the list. shoe carnival is a mover this morning, sees less money coming in, but the stock is up. the drug maker, forest labs posts a loss as an anti-depressant sales fall and that stock is down. by the way, the dow has come back from a 60 point loss and it's now down 33. how do we really feel about the two big issues before us today guns and the debt. we take the pulse of the nation with scott rasmussen next. i want to read this, government never furthered any enterprise, but by the alacrity with which
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>> now, we've got an interesting twist in the gun debate. a man in texas is facing third degree felony charges after he told officials at his child's school that he had a gun. he said, he was conducting an experiment on the school's safety. well, he's being held on $75,000 bail, although many parents, other parents applauded his efforts. let's bring in from asbury park, scott rasmussen because we want to take the pulse of the nation with a leading pollster. it seems to me, scott, there is a growing sentiment in this country for gun control and no matter what form is takes, but for gun control. do your polls show that? >> well, if you are saying there's support for something to
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be done, yes. there was broad support, say, for more background checks or for a three-day waiting period before you can get a gun. there's also, by the way, majority support, most people say they can feel safer if their child went to a school with an armed security guard, rather than a gun-free zone. >> hold on a second, we just put up on the screen, your poll that found 86% support for more extensive background checks, strict background checks, that's overwhelming, overwhelming majority. >> background checks for three-day waiting periods, for stricter controls on how guns are transferred, and one that's not getting much attention, more punishment. if you commit a crime with a gun, people overwhelmingly think you should face a stricter penalty than the same crime without a gun. having said that, there's not a broad support for taking away guns or for some of the things that are being talked about, there's modest support for an
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adult weapon ban and i think this is a political challenge, people want something done, they want the background checks, but they also are literally saying, this is the solution. most people think this newtown shooting was the act after deranged individual and they think the mental health issue deserves attention. stuart: on the screen at the moment, we're showing another of your polls that show 74% support the right to own a gun. support the second amendment, essentially and that has 74%. that's still overwhelming support for people on the other side of the fence, the right to own a gun. . >> and stuart, it's not just the right to own a gun. 75% of americans believe it is morally acceptable to have a gun in your home. this is not something that people are saying, yeah, it's a narrow constitutional right. they're saying that this is something that makes sense. most people would prefer to live in a neighborhood where they could own a gun to protect themselves, rather than in a neighborhood that was a gun-free zone. this is a challenge for all
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political-- people want action, they want something to be done, but they're not sure what and they really don't like the idea of only government officials having guns. >> on the other issue of debt. take the nation's pulse, can you give me real fast, is the president beginning to take any kind of public relations hit, because he's saying no negotiation, and he's on one side of this political wrangling. any side that the president has taken a hit. >> no, the only place he's taken a hit, calling for new revenues and 30% believe tax hikes are needed now and support for the president's position there ended. stuart: excellent, well, not excellent, but thanks for the informati information. [laughter] >> thanks for the information, scott rasmussen, good stuff. time for the gold report, where are we this morning? the dow is down 30. we see gold up 9 bucks, 1679 is where we are for gold. lance armstrong comes clean and he says he wants to compete again and he might rat out others to do it?
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whoa. sandra smith, brian, they're here, will they forgive, forget, and give him a second chance? i would not, but would they? that's next. ♪
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at a dry cleaner, we replaced people with a machine. what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally.
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♪ if it makes you happy, it can't be that bad ♪ >> and that's-- well, lance armstrong admit today what many people speculated for many years, he lied and cheated. the seven time tour de france winner, stripped of his titles and barred from competition and he's confessed to oprah winfrey, yes, he used drugs to win the tour de france. sandra, do we forgive and forget. >> we never forget, but he'll always have the sympathy of the people of the world for that matter the struggle through his cancer. however, we never forget that he lied and he deceived. stuart: the cover of the new york post, his charity, you remember the bracelets and on the bottom, used to be livestrong, and now it's "lie strong", that's the new york post. >> it's sad and i think there will be a revenge story here. stuart: do you think we will
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forgive? will america forgive this man? >> absolutely not. never forgive. they'll be curious, buy his books, and watch the movies made about this for sure. stuart: but he's going to rat on his colleagues, is that r right. >> it will take a long time for the country to forgive because he kept maintaining his innocence a long period of time. if he had come chelean two year ago, a nonstory. when you sno, no, no, no, and-- >> now he's going to rat out his colleagues for revenge, and that will go on for years, but you told me in the break he has book deals. >> you better believe before he sat down with oprah he lined up every money making deal on this story as possible. this is very much a business story because lance armstrong is the not only going to have to rebound socially and obviously make the world like him again, but he's going to have to rebound financially and give up certain amount of the money that he made while he was doping. stuart: well, we'll have more on this later on the "varney &
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company." brian gardner, sandra smith, thank you very much indeed. here is what we've got. new at 10, jerry brown's fantasy island budget. says he's got the golden state back in the black. and we plant our flag in the state not afraid to go toe to toe with the governor. >> that's what you think, you invited me on the pretext of talking about one-- >> no, governor, your staff called us and you wanted to come on the show and now you're unhappy because i'm not kissing your butt. i'm not going to do it!
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stuart: new at 10:00 how is this a sign of the economic times? more people dipping into their retirement accounts to pay the bill. more than a quarter of workers are using for a one ks and other retirement savings for current expenses. that drains $75 billion from those accounts every year. that is money they will not have for retirement. that is new at 10:00. not much selling or buying, we are down 28 points but below 13-5. here is the company tuesday morning, sandra smith is here and welcome back brian gardner, washington analyst dan nicole petallides from the floor of the new york stock exchange. to the big story from the get
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go, the president's power grab on guns. white house reported reconsidering 19 executive patches for the president to impose unilaterally by -- bypassing congress to take action on guns. these possible actions include universal background checks, banning high-capacity magazine clips and an assault weapons ban. that is that the federal level. look at the state level. new york already moving swiftly on guns. this hour the new york house debating and expected pass a bill being called the toughest gun-control law, calls for stricter assault weapons ban, tougher background checks and restrictions on sales of guns and ammo. all of this appears to have the approval of a small majority of voters, new washington post-abc news poll shows 52% more likely to back some kind of gun control after the shootings in newtown, connecticut. the judge will join us with his take on executive action, power grab maybe by the president.
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back to the market, apple is well below $500 per share, where is it now? nicole: still below the $500 mark today, right now is at 489, pennies away from the low of the day of $4.88, these levels go back to early 2012, the 11 months ago this is where they were. stuart: everyone is looking for the bounce. apple dropped below 500 and bounced back. so far no bounce. nicole: the only thing i think about when i think about apple, we have the near-term where they are cutting down, the i phone 5 not doing as well as they hoped that we heard about iphone 6, apple tv, we will see if those things bring on better numbers in the next six to 12 months. stuart: 10:00 eastern, three hours before the facebook mystery announcements. where is facebook now?
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nicole: not too far off of the unchanged line. it is up 1/2% at $31.18 but in the last three month said it up 60%. stuart: i think most people would take that. you would and so what i. now to our new at 10:00 story. tower is this for an economic indicator? more than a quarter of all workers are dipping into their 401(k) retirement accounts early to pay bills now. that is coming at a cost of $73 billion per year. that is not a good economic signal, is it? >> no. it be lies the strength or lack of strength in the economy. people a dipping into the future, borrowing from the future to pay for now. in the grand scheme of things it is not an enormous number but it does indicate some people are living beyond their means and not saving for their retirement.
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stuart: we have to make the distinction. is not withdrawing money. they are borrowing from it. if you borrow from a 401(k) you have to repay it and you repay it with interest and you are repay and that interest to yourself because the interest goes to your account. inefficient for efficient? >> inefficient. sandra: when you do borrow from the 401(k) and take that loan out and don't pay it back in the time period in which you promise and then in addition to paying your self-interest you're penalized. stuart: a 10% penalty. nicole: my problem is the now, a weak reflection of the economy now. very weak reflection of what we are going to see going forward. these people are not going to have money to retire with if they are borrowing now. stuart: that is the point. is an economic indicator which suggests weakness in the future and certain we weakness now because people don't have money to pay the bills. brian: it depends who is doing
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the borrowing, a 35-year-old is one thing but somebody who is 55 with less time to payback. stuart: that is more serious. we have the wealth gap. is widening in america. the number of working poor continues to grow, more people are returning to work but at mostly lower paying service jobs like cashiers' etc.. according to the census bureau 200,000 more working poor families emerge in 2011 compared to the year before. overall 10.4 million families, 47.5 million people total live near the poverty line and that number of people, working poor, does that mean they are eligible for the earned income tax credit. if you are at work and not making enough money or below a certain level, the government talks it up with a check every january. what are we to make of this statistic? brian: it is showing the
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increasing reliance of the government on a few people to pay the bills because you are actually subsidizing more people who are in the work force. not only are they not paying federal income taxes but being subsidized and receiving a check so the progressivity of the tax code is increasing through this and it is not a new program but i don't think it is a strong backup for the government and the tax code. it is an inefficient way of subsidizing. sandra: a sign we are overtaxing and overregulating corporations and small businesses to the point data want to hire these people so people have to downgrade out of jobs they should be working in and educated to work in and take lower-level service jobs. very much a sign of the times. stuart: the government takes money off of this group to top off the income of that group. that is -- [talking over each other] stuart: that is my take. big money at the story everybody is talking about today, lance
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armstrong comes clean on informant -- performance enhancing drugs and made millions in prize money and endorsements, raise a lot of money for his cancer charity. we are a forgiving country. we really are. here is the question. will the nation give him a second chance or is he totally finished? we will ask that question. we have a pr executive on whether it lands can have his image and i have my take on mr. armstrong around 10:28 this morning on this program. back to nicole petallides, the share price of lulu lemon is moving and i don't know which way. nicole: not in a good way. continues the way we saw in seven early mover is. you noted it was lower and still is down 7-1/3% and one reason is the outlook, they are not raising the outlook. on the contrary they talk about sales but not raising the outlook, disappointment to wall street and shareholders and you can stop selling off the two
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things. the stock is 30% over the last six months. three things. i am not lance armstrong but i did live. ubs is a price target of 82 from 88 but they have a buy rating and number 3, i still love them. stuart: retail sales overall were not great in december, up only 0.5%. i know that looking backward stock investors always look forward but with at as the backstop, 0.5% gain over the christmas holiday that is not really great. despite your best efforts. got to move on. we are down 30 on the dow. california governor jerry brown says the former golden state, the new tax increases and spending cuts they have balanced, calif.'s budget. week in turn, putting back on fantasy island, our next guest would agree with me. he belongs and fantasy island. >> anti-government guys want to
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dismantle the patient infrastructure of civilization, we have a disagreement. >> who is being rude and unfair? i never said dismantle government. people who voted for this bullet train if they had a chance to vote for again would have turned it down. >> that is what you think. i don't agree with that. you invited me on the pretense of talking about -- >> your staff called us and you wanted to come on the show when you are unhappy because i am not kiss your butt. i am not going to do it. stuart: when you got that? joining us now is larry elder, a man i greatly admire for that interview. welcome to the program. great to have you with us. what do you make, tell us how you feel about california governor jerry brown's latest budget. he says we are back in the black and everything is fine and dandy. what do you say? >> we are not back in the black and everything is not fine and
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dandy, the governor's staff called my show and he wanted talk about a lawsuit against the fed. prisoners have sues california claiming they are being stacked up like airplane boots because of prison overcrowding. the reason we have prison overcrowding is bad priorities. the governor has been running around pursuing a bullet train in dealing with global warming instead of doing the number one thing the government is a position which is protect people and property. california is releasing people early putting bad guys on the street who offend because we have not got our priorities together so i dare to suggest the governor that we ought to be changing our priorities and he is responsible for having a $500 billion unfunded pension liability. we ought to get our act together. he accused me of being rude and said he was aghast when in fact he called me and when you call me you are in my house. stuart: part of the interview was about the budget. you mentioned the $500 billion pension liability which is not accounted for in this latest budget. so you move from prison inmates
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being released in security and move from there to the budget and that is where governor brown got feisty. give us your opinion on this budget. we have been very critical on this program. i don't believe california is fine and dandy but i want your opinion. >> not only is it not fine and dandy but we have highest income tax rate in the country. people are leaving. ceo magazine rated california for eight years and wrote the worst business climate of all 50 states in which to do business. stuart: sorry to interrupt you. i don't mean to disrespect you but californians voted overwhelmingly for this. they voted for higher taxes. they voted for this environmental regulation. you got what you wanted. >> you are right. however as far as the bullet train, the train that may cause $100 billion californians did vote for it but now like you go to the polls overwhelmingly californians regret it. part of the reason is it is
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supposed to operate without some these. i can't think of any train around the world that is operating without subsidies and one of the reasons the governor and i clashed when he was on with me the other day is team and the chinese bullet train which is heavily subsidized and one of the requirements voters voted on is this train operate without subsidies. it can't do it. he is the feeding the voters and roll over and play dead and i didn't do it. stuart: do you think california is at a turning point or close to turning point? regeneration they voted for higher taxes and more regulations and anti business, but listening carefully to what you are saying, do you believe we are close to turning point? >> the problem with your question is this. we have no control group, so when president obama brags about 2% unemployment we have no world where we can show if no obama had been there and greater policy did in their we we be at 4%. of left-wing person and always
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make the argument i inherited a bad situation and turned around. similarly in california's economy is doing better now because it did so badly so the governor is now saying the economy has turned around because we are paying our bills. we are paying our bills because the governor increase taxes which ultimately is going to hurt business down the road. have we reached a turning point? i thought we reached a long time ago but the fact is the american people want a big welfare state, they want other people to pay for it. stuart: you are conservative guy, in california you broadcasted calif. you ever feel you are beating your head against a brick wall? >> i do. i do but i feel somewhat the way i would think obama or jesse jackson would feel, the face of gun violence in this country is not sandy hook as horrific as was the chicago. these guys have been in those cities long time. chicago had 500 murders last year and is on pace in 2013 to exceed that.
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where are they? that is how i feel. i often feel i'm yelling and screaming and nothing is happening and i feel obama and reverend jeremiah right are the same thing in their city, great deal of frustration. stuart: we like your style and any time you want to yell and scream on connell: you are welcome. thanks for being with us. stuart: 19 is the number of executive orders president obama could sign to get around congress for stricter gun control. do you agree with that? [ male announcer ] you are a business pro. omnipotent of opportunity. you know how to mix business... with business. and from national.
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stuart: walmart announced this morning it will buy an additional $50 billion of products from the u.s. over the next ten years, this is the retail site at latest bid to increase domestic sourcing of the products it sells. walmart stock is at 68. housing is one bright spot in the economy, lennar prove that. the home builder reported higher profit and rise in new-home orders, shares are down $0.70. more bad news for apple as shares slid well below $500 this morning. apple's price target is 530 from 660. apple shares 490. coming up, guns. will president obama try to go around congress and use executive orders to get 19 measures pushed through? i have been calling that a power
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grab. judge andrew napolitano will agree with that but we will talk to him in 90 seconds.
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stuart: last week "varney and company" regular keith fitzgerald told us how the greenies in oregon are thinking about per mile tax for fuel efficient cars. now the obama administration is also considering a hacker mile tax. why? to make up for lost federal gas tax revenue because we are using less gasoline.
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they are thinking about it. president obama is considering a big power grab on guns. the white house looking at the 19 possible executive actions for the president to impose unilaterally taking action on guns while bypassing congress. here is some of what he had to say about that yesterday. >> my understanding is the vice president will provide a range of steps we can take to reduce gun violence, some of them will require legislation and some of them i can accomplish for executive action. stuart: judge andrew napolitano is here. the executive order. you consider most things unconstitutional. are not going to tell me an executive order is unconstitutional. judge napolitano: it could be if the enforcement for compliance with the executive order interfered with the natural right or a constitutional right. for example the omnibus gun control act or crime control
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act, one of the last pieces of legislation assigned by lyndon baines johnson gives the president of the united states of america the authority to ban importation into the u.s. weapons that are not needed for the military or suitable for sport. stuart: that is legit? judge napolitano: hear me out. the president can use his judgment as to what is not suitable for sport. if he abuses that judgment, so as to curtail weapons for self-defense by saying you can use them because they are not usable for sport, that would be the use of an executive order because he would tell the justice keep arming the treasury department not to let these things coming and the effect of it would interfere with self-defense. stuart: i am bored with it. i don't care about 1968. judge napolitano: the same authority president obama has. stuart: tell me your judgment, if the president uses an executive order to command,
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demand background checks universally is that are unconstitutional. judge napolitano: he does not have the authority to do that. because that is an interference with the free trade in interstate commerce. stuart: it is a requirement before you buy a gun. stuart: you may consider a minor interference but it is an interference because it costs money. italy come from congress because the constitution gives to the congress the authority to regulate interstate commerce, not the president. stuart: by executive order can he say no more magazine clips that contain 10 or more bullets? judge napolitano: only the congress -- let me tell you what he could do. he could say to the d e a all those gun shops you guys look up records for every six months, start looking at their records once a month and then you have the e a officials and the gun shops once a month interfering with their ability to sell guns. that would slow down their ability to do work, that would make their work more expensive and the expense be added to the cost of the gun to make the guns
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more expensive. the most draconian thing he could do would be constitutionally court legally to be the epa. he could say to the epa guns have lead in the bullets' dan led when it gets in the earth requires to dig up the around the lead so let's reimburse ourselves to the cost, let's impose costs on the manufacturers of those bullets for cleaning up the earth. pass that along to the purchaser. that would double low-cost of bullets. stuart: i believe president truman desegregated the army, the armed forces by executive order. is that legit? judge napolitano: absolutely. that should have been done after the fourteenth amendment. president truman also sees the steel mills by executive order and that was not constitutional and court stopped him. stuart: when you believe the president is exercising too much executive authority? generally speaking, not just with respect to guns that generally speaking? do you think he is?
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judge napolitano: this president? yes. this president love to go around congress and boast that he is doing so. some executive orders are great like desegregating the military. some are entirely out of line like going around congress. stuart: judge andrew napolitano, thank you very much. judge napolitano: have a feeling he will be back. stuart: uncomfortable feeling. judge napolitano: do you think she watches? stuart: we are a forgiving country. confess, admit you are wrong, you can make a come back. will that be the case for lance armstrong? will we forgive him? my take on that is next. [ woman ] if you have the audacity to believe
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>> there not interacting as much as they used to. they're using social chat, chat, tumbler, some of them are even migrating away from twitter. they are still on facebook, putting a of the cases, the cool kids that want to hang out in the living room want to hang out
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in the basement. stuart: where did he get that? that was in the last hour on facebook potentially losing its cool among younger audiences. similar to apples, facebook reveals its mystery announcement couple hours from now. i will collet the horse race stock. look at it go. nicole: 490 now, had been in the 480 range, that is not good news, still remains under $500. just finished a conversation with mark newton a gray wolf execution partners. he does a lot of charts, how he spends his day all day long, underperforming in nasdaq every four months, anywhere under 500 and you will be ahead of the game, now bottoming, employees to outpace the nasdaq composite. stuart: only time will tell. thanks very much. you can see this from a mile away. president obama's new health law will cost you more money. betsy mccord wrote the book on obama, a very good book, she
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tells us how much more is going to cost you. she is on a show at 10:35 as apple goes down. lance armstrong confesses and apologizes. here is my take. america is a generous country. in the last 40 years i have been here virtually every fallen celebrity or a politician has been forgiven for whatever it is they did. tear up, confess, go to rehab and you can make a come back. only john edwards appears to be permanently irredeemable. now we have lance armstrong. in my opinion he will be one of those celebrities who does not make a come back. i do not believe he will >> reporter: any credibility. cannot be trusted. he has lied too long and hurt too many people to be rehabilitated. there's one item in particular that stands out to me. to cloud any return to public favor. lance armstrong will testify against other people in the cycling business.
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what a rat. you live for years, helped ruin an entire sport, core of your colleagues and then to return to favor u-turn in people who you announce a were in the mess from the beginning. what a tangled web we weave. that testimony, that that will drag on for years. armstrong cannot get around that. we are a forgiving nation and that is a wonderful thing. public salvation is possible but forgiveness is not always the right thing for a nation. sometimes harsh judgment is valid and necessary. lance armstrong does not deserve our generosity. bla [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know.
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stuart: just before the last break i've brought you my take on lands on strong and said clearly does not deserve our generosity and therefore will not be forgiven. joining us now is bill hollow, co-founder of, an expert on image and public relations. do you think lance armstrong can or should be rehabilitated? what do you say? >> if he is to be rehabilitated will be a very long, hard uphill slide for him but he is used to long, hard, uphill task.
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i think he has only one shot at this, one opportunity to apologize and to do it right. if he boxes a, if he only gives a half-hearted apology, if he does something which causes people to question his sincerity that i think you are right, he will never win the mercy and sympathy of the american people. stuart: it is not a financial thing. this is a question of honor and forgiveness. i don't think you can get his daughter back and i don't think he will be forgiven but on the financial side of things he could make a come back, if he writes about or two or a movie or whatever comes totally clean, tell all would sell pretty well. he could be rehabilitated in that sense, couldn't he? >> he could but some other issues he has to worry about here. my company 15 seconds, we advise our clients not to let lawyers make you do nothing other than right thing but in this case he
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has tens of millions of dollars at risk in lawsuits so he has to be careful when he does his apology how he phrased as it otherwise you may be playing into the hands of those people who were about to sue him and have been suing him over the years. stuart: he will testify against some of those people who were former colleagues. that won't go down well. you can't rehabilitate your image, that will drag on for years. i called him a rat, maybe that is a little strong but when you do that kind of thing, testifying against your colleagues, i think he will be judged badly on that. >> he has a fine line to walk. he has to take responsible if what he has done and do that fully and completely and give explanations but not excuses and can't be seen as somebody pointing fingers at anyone else, it does that lost. stuart: in your opinion your professional opinion he has got a come out full for apology, full disclosure of every single
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thing he has ever done and an abject begging for forgiveness. he has to do all of that. >> he is going to do all of that without the part about pointing fingers and everybody else. that is hard to do because when you're giving a full throated apology you get questions about the others, what a fine line of not looking like a rat but looking like he is sincerely sorry for what he did. stuart: stay for one second. i have another company member listening to me called lance armstrong a rat. you thought that was strong. sandra: very strong. choose your words thoughtfully and i think you probably are sharing of our thoughts of many people sitting at home right now who are saying now? really? you are going to sit before us and say you're sorry after lying to that camera so many times, people have been severely hurt by this. i don't feel recovery for lance armstrong any time soon. >> i take bill's comment before that he only gets one chance to get that right but let's not underestimate lance armstrong.
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what he has accomplished athletically, even if it was by cheating, win all of those tour de france titles, the marathon the goes into it, the preparation, this is somebody who has the discipline and a drive that i think many of us don't quite understand the level that it is at. so while he only gets one chance to get it right, he also has a long time to get over this and i think he has a long-term view. should he be forgiven? that is one matter. will he be forgiven? there are a lot of second acts in america. stuart: fare point. last question, what do you think of this? the real winner in this is oprah winfrey. >> certainly she said this is the biggest interview of her life and she has done a lot of big interviews. turn network is largely unknown, her new own network. you will be attracting a lot of eyeballs to the network with this interview and so you are right, she will probably come out ahead of the game no matter how the interview works, she
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will be a winner in this. stuart: bill hollow, i want to get that right. thanks for joining us, great pleasure. last word. >> speaking of oprah, reaction will say a lot, how lance armstrong comes out of this. stuart: fare point. i want to talk about another less controversial athlete, olympic swimming champion missy franklin. she is 17, she is now competing for her high school. franklin is dominating, no surprise there, upsetting some of the competition who says she is too good to race against people in high school. you are a former athlete. what are you again? sandra: all-american type list. stuart: she is 17 years old, olympic champion, great swimmer and she is back competing at the high school level. can she do that? sandra: absolutely. she has done everything textbook
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right according to stay in an amateur athlete. she is millions in endorsements, won multiple gold medals and these winey high school athletes can't beat her so they want her out. she has all right in the world to be in those high school competitions. win them. everybody doesn't get a trophy. she is better than you she is better than you. stuart: i 100% agree. >> if i am going against her this is my chance. how many times in your life are you going to say as a high school student i got to swim against an olympic gold medalists. stuart: thank you very much. i do agree with you. not making fun of this. i agree with you 100%. president obama said his new health law would save you money. that is not the case. you will end up spending a whole lot more in some cases, a lot more. betsy mccloy, author of beating obama, a great book is with us next.
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stuart: express had strong sales this holiday season in stores and online, the company raised fourth quarter and full year forecasts and that stock is 20%, there you go. the holiday season, colt walker creek, a retailer now expecting a loss wider than expected, blending week sales, stock price
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down 18%. signs of struggling times for dell, the computer company in talks with private equity firms about a potential buyout for dell's moving up on that news, now at 1250. just hours from now facebook will tell world what they have been building and a mystery in silicon valley. share price of facebook a 60% in a few months, down little prior to that big announcements. your health care premium could go up by 50%. there's a headline. betsy mccord on that in a moment. question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needingo go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis.
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stuart: walmart has announced plans to hire veterans over the next five years, the job offer will apply to any veteran in the next 12 months of active duty. veteran's job campaign stops on memorial day. president obama repeat it the said health insurance premiums for a family would be $200,500 lower by the end of his first term. in actuality they are about $3,000 higher and premiums could still go up another 50%, maybe even more because of obamacare. betsy mccord is the author of beating obamacare, great books, joins us now live in a studio in new york. welcome to the program. this figure, that got everybody's attention. health-insurance premiums if you are in the individual market going out to buy my own health -- >> twenty-five million people in the individual market buds that will go up, after many people
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lose their on-the-job coverage in the coming months. stuart: let's get to this 50% increase in the cost, i would have to pay to insure myself. how did that happen? >> first of all states in general have set their own health insurance rules so people who live in states with smart rules had low premiums and people who live in states with not so smart rules like new york, new jersey, vermont had higher premiums. two years ago the obama health was started rolling out federal rules that affected everybody and they have pushed premiums across the country. for example no co-pays or deductibles for preventive care. there is no tooth fairy. of the insurance company has to pay the full cost of that colonoscopy or mammogram, you are going to pay a higher premium. adding children, adults children to their plans until they're 26 cluster premium. stuart: hold on a second.
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>> now some states, let me give you some examples, arizona, arkansas, idaho, iowa, oklahoma, ohio, virginia, that have customarily had premiums well below the national average are going to see their premiums double higher than 50%, even 100% increase and that is because the new federal rules that go into effect in 2014 will make those states follow the same rules that vermont, new york and new jersey already follow. stuart: as of 2014, 11 months -- >> guarantee issue. it means even if you are already sick the insurance company has to take you at the same price they take a perfectly healthy person. that is going to push up the premiums a lot. mandates, new york, 51 mandates, things that have to be included in every single health insurance plan, like passing along the only car you can buy is a fully loaded cadillac. some people just want a
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volkswagen. stuart: all these new mandates, demand within obamacare -- >> essentials benefits. you have to have them and pay for them. stuart: have to pay for them. all right. if prices go up as much as you say and most people agree with you we are going through the roof, what happens? i can't afford that, most can't afford that kind of premium increase. >> most americans get their health insurance through a job, their own jobs or their spouse's job. stuart: does their costs go up? >> their costs go up too. stuart: as much? >> not as much. the individual market will see the biggest jump. but everywhere this is going to have an impact. beginning in 2014 employers with 50 or more full-time workers will have to offer coverage. not just any coverage, it is going to be 1-size-fits-all government designed plan to cost twice as much as what many employers currently offer. some employer is going to say i
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will pay the penalty. other employers say i will push my workers to part-time status like the -- [talking over each other] stuart: shoved into a market where the price is rising. i am terribly sorry. i am out of time but i want to say -- >> better than flat out of money. stuart: beating obamacare is the best hand book i have ever seen on obamacare. >> or barnes and noble. stuart: thank you very much indeed. back to the gun debate leading newspaper releases the names and addresses of gun permit holders in two new york counties and one of those houses named in the paper gets robbed. the burglar targeted again saved. next we will talk to a gun owner who was named.
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stuart: more fallout from newspaper publishing names and addresses of gun owners in two suburban new york counties. a homan westchester county that was highlighted in the paper was burglarized this past weekend. the gun safe was targeted. now n.y. state senator gregg bowl has come out linking the robbery with the newspaper. , quote, the journal news has place the lives of these folks at risk by creating a virtual
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shopping list for criminals and not jobs. if the connection is proven this is further proof that these maps are not only an invasion of privacy but represent a clear and present danger to law abiding private citizens. city councilman peter tripony, welcome back. it occurs to me there's nothing much you can do about this. your name, your name was outed. what can you do about it? >> there is little we can do now. the map is out there even if they do take it down. we are still on the database. my problem is that what are we waiting for? are we going to wait until retired police officers shot in his garden in front of his family? happened to a judge in thes. are we going to wait for that incident to happen to get this newspaper to take this matter down? i don't want to wait for that. stuart: have we got any kind of statements justifying what they did from the editor and
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publisher of this newspaper? >> i think there silence speaks volumes. stuart: absolutely wrong. they put people at risk and won't talk about it. that is absolutely wrong. >> they won't talk about it. fox news report, burglar's said this is a treasure map, this is a city where burglaries did occur, came out and said this is a treasure map for criminals. this is well-established. stuart: is it a law passed in new york state saying this kind of information remains private? >> this lot was the gun law that was passed in new york state part of the gun law was privatization of these names. you do have to submit a claim, you have to provide reasoning why you want your name to the private on this list but even if we go that far and this is done this is already there. stuart: what do you think of the journalistic judgment of this newspaper?
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>> i think this is a perfect and clear example of a newspaper advocating rather than reporting and it is sad because a lot of news agencies have become facilitators of advocating for political issues than rather than reporting on important issues of the day and it is evident of what the news media has become. sandra: i don't think the blame is with the newspaper but the politicians in washington who created this hostile environment. rather than talking gun education they are touting guns are bad and the people that own them are bad people. stuart: when you were outed as someone who is bad because you got a gun. >> i am not a sexual predator, not a felon but i am on this list like a felon or sexual predator would be on and you have to be extra cautious. coming back to gun laws the national debate washington about background checks, westchester county a pistol permit, 60 day waiting period co. a written
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tests, take classes, i did everything. these are the most responsible gun owners in the country and it was locked up because those guys are responsible gun owners who couldn't get to the gun. stuart: always a pleasure. you come back and see us and see how this plays out. thank you. the highlight reel is next. tdd# 1-800-345-2550 you should've seen me today.
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