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tv   MONEY With Melissa Francis  FOX Business  May 25, 2013 12:00am-1:01am EDT

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>> it's just a matter of when among you guys, just ow quickly you act. >> and at what level. >> we agree more than you think. neil: thank you, all. that'll do it will be slightly down. "money" is up next. >> i am denis neil. here is what is my niece and i will i am pulled the plug on u.s. power grid? that an escalation in cyber attacks you have to do this but as transcanada berndt surtout billion dollars for thing? that is a budget spent on the keystone xl pipeline a the president sll sits on his han and the president of transcanada joins us to push o of the pipine and who made money today? proctor and gamble replaced the ceo. keep watching to find out. even when they say it is not
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, it is always about money. dennis: if writing story from "the wall street journal" that iranian hackers have launched attacks in to american energy companies to allow them to critical infrastructure like pipelines. there is a huge cyber threat comi from china as well and our next est thinks china and iran could be in cahoots helping them to launch attacks against the u.s. and here have chris from the institute of the study of war and cyber security expert morgan right. thank you for being with us. chris, is every and serious? >> it is a pleasure. yes, they are serious it is
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a strategic competitor to the united states. they oppose us at every level they can and the issue is cyber warfare i a serious threat i believe specifilly between iran and china and we see that in many other sector and the iranian military establiment. two months ago we saw ships visit china and after that weaw this super tanker and two months after that we saw the cyber warfare attack on the american energ of the structure i don't think they ar unrelated. dennis: with the news several today, more again, i did not see a link the way chris just built. >> i don't disagree. deal statement the enemy of my enemy is my friend. china has a stratec interest but iran is demonstring a tacticalnd stressed -- intereet but they could be armed with
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weapons supplied by a u.. they pointed on themselves now they will point* those in our direction. dennis: you mean a metaphor. [laughter] that'd assassinating angle thatwe messed up their centrifuge as they try to make material and then we stuck in the virus so what about a turnip on us once you ve the cyber attacked it is usually visible to whomever you target. then youave that ability berndt to use that began but if you turn medigap -- around then use a back against you but but if it is the imposition of
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chinese-made missiles the navy intercepted surface-to-air missiles for the rebels and yemen. the chinese armaments industry is heavily involved with the iranians industry but it is beyond my comprehension is not linked. dennis: are we capable to stop the iranians to hacking into the nuclear power control system? >> two things. remember 85% is owned by the private sector. is a possible? you can prevent some things but the real issue is do we are in affirmation between the public and private sector and is it prepared to take the necessary steps? the government may not say so but if you do with nuclear power and energy there is a lot of different regulations but we are about
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having a defense bill by the intelligence community and friends. dennis: i saw the ice where a new doctrine that said if the four nations hackers tapped into our defense systems we will see this as an attack of four. has this actually happened fifth. >> we don't know but i believe smith is long overdue that u.s. consider the cyber attack the conventional attack of warfare but it does not have conventional weapons we should have it with the same threat. if the iraan military is targeting u.s. energy infrastructure that is an attack on the american economy and population. we need to respond i'm not suggesting in this instance but we cannot hand tire so sore hamstri ourselves that we only respond to
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cyber attacks if the iranians persist we must respond with the military option. dennis: taphorical missiles may turn into real missiles at some point*. thank you for being with us. don't forget to watch our special report times monday may 27 at 1:00 p.m. at 4:00 p.m.. another vote on the keystone pipeline it was approved by a still no approval from the white house. that transcanada invested five years and billions of dollarfor nothing? we will talk to the ceo of the exact how far will the hon go to take down steve steve, when? more money coming up. ♪
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dennis: what does transcanada have to show for the $2 billion over five years and has been on the early stag of the keystone pipeline? some half built pipe bied in red tape it passed the
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house on wednesday but obama seems to do everything he can to avoid letting them before including not doing anything at all. transcada ceo joinsus now i ll get to the pipeline but first, start with the cyber threat we were talking about. these are reports that hackers has been getting into u.s. energy systems. did you know, they're there and you have reason to be alarmed? >> we're always concerned about certain acts journal attacks on our informations systems and on the control systems within the pipeline and other energy infrastructure. so we build systems to build with the department of, and security to understand what those threats are it that we coordinate our monitoring systems to ensure that our systems are safe and they're
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not compromised the house dominated by republiccns as aaother bill to revive it are your odds of getting better or can he still'' this is very much needed and those refineries are getting crude oil from elsewhere then it makes sense to sign the 20 year contract to support us. we keep pressing for word has the department of state has completed the environmentareview process and they are in the middle of reviewing the final comments we will see a final environmental impa statement this summer and then from there it will be in a positive decision b the department of state. dennis: here i thought that was international issue but i hardly consider canada is
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an international rival. they say it will create an thound skilled jobs to offset 42,000 other jobs s what is not to like? i have not heard you say that our chances will be approved. >> i always thought the pipeline will be approved it is hard for me to fathom any other decision as the largest decision and the imports come from the from canada is a logical decision it is the fifth largest it is of friendly nation and i can think. >> is vice do business but
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obama is torn between two lovers hamas and the union backers who all but on him and they applied to the pipeline and his activist to hate the pipeline than the llould remove presidential approval from the process for producing the obama is secretly might want control taken out of his own hand? >> if but it with the seventh so we have seen in congress for approving the project and the majority of congress supports it and the majority of americans support it so at the end of the day we will work our way through the depament of state process and they have denis. this is the draft they have completed but but there is
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note material environmental impact. at the endf the day the department of state comes to a positive conclusion still make you think if ey keep delaying with 30 years of deberation may be solar energy will be ready. but they are ready bring in 2.5 million barrels per day from canada of th pipeline would bring in another 830,000 barrels per day. 800. >> the pipeline that is left minty from irate the project was denied and they had to reply so the section nebraska through the gulf coast will be completed by the middle of the summer so what is remaining is the
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piece running from the upper montana border through montana, south dakota and nebraska that is what is left of the pipeline. three states. dennis: whatercentage is not finisd? >> overall wi 30 percent thatis left to be completed 70% is running and another 27 of the by the end of e summer. >> is outside you are building it there 1/2 to do eventually. thank you for being with us. time for the related matter 31-point tmillion americans wi hit the road that is a a decline from last year because gas prices averaged $3.60 per gallon although release could be on
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the way becauseasoline futures have the worst week since april falling more than 2% and oil futures posted the biggest loss in most of the and a month but crude falls more than 2% and sells at $94 and $0.15. sec capital and four executives have new subpoenas and some say it is a witch hunt and how far will the fed go? how does something like this happen?@ afte the government spends billions upon billions on stimulus to fix the decrepit roads and bridges. we will get answers. can you have to much money? ♪
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dennis: whether on wall street remainestreet here is you made betty behalf -- money today. and when you own some posturing gambled the ceo was moved and procter will bring back the well-rrgarded former ceo to run the company now the stock is jumping 4% on the news and pershing square capital own 20 million share that is a gain in one day of almost 90 million -- $90 million losing money by jefferies sealock abercrombie and fitch may need more than thin and beautiful customers same-store sales plunged 15% in the third quarter's sending the stocdown tumbling that was also four point* $4 million today and also married jay oblige the ira's max our with the
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3.$4 million tax lien what of way to end the weekend. the interstate bridge in washington state collapsing into river last night dumping to vehicles into the water fortunately no one was killed. the over $1 billion of stimulus from washington state for infrastructure fix how could that even have been? join me now from the wall street journal editorial board, washington state gets 1.$5 billion and spend senator 50 million not on bridges but high-speed rail? what is going on? >> it is a misallocation of resources and u will see a lot of talk in the weeks to come withphotographs of the sunken bridge and people in washington saying we're not spending enough money on it
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transportati i guarantee that is happening. you point* out a good example wre aot of the money is wasted. we know high-speed rail will not cover very many writers most projections show it will force huge operating subsidies and it should have went to repairing the ridge so it would not collapse. dennis: almost 30 percent of the brids are in bad shape does it turn out when politicians received from washington they spend it on a shy new projects than the boring stuff of fixing a decrepit bridge? >> craig point. there is nothing that i have discoved the politicians love more than the ribbon cutting ceremony for as a new raillproject or a statue or of building so you nail
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that there is not a lotf? appeal to fill the potholes and repairing the th bridges but there is to the high-speed rail projects and that is why exactly the money goes to those projects. there has been no such shortage ofederal transporration dollars we have almost doubled spenng for highways and bridges over the last 10 years of it is not a problem of not enough money it just isn't going to the right pces. dennis: redouble spending but hen in the come with our economy dying and then came the stimulus i hear the president say dozens of times have to fix our roads and bridges 864 billion does it turn out that none of that went to fix the roads and brges? >> all lot of it did but also into wasteful projects th have nothing to do with
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improving the transportation sector of our economy. you are right to lot of bridges are not safe right now and if we see more of this the american people will be upset over the fact the bridges are not just impassible but ao not saved but how do we allocate the federal tax dollars? a lot of it is an earmarked. but all about that state of the year market for the high-speed rail so lawmakers had no choice they had to spend it f that project. dennis: in other projects they say that they are so much better knowing how to spend the money so they should get the blk grt that would think that state officials would be better than the fed anbut they were not. >> to make goes bk to the point* that people like to do projects that is a basic
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minutes of the transportation system is not kept up and we havehis prlem in northern virginia according to the transportation department one of the worst congest and problems in america stead of building new lanes again they build the transit system that doesn't have a lot of writers. it is a serious problem in terms of the timeeople waste and public safety. dennis: there is nothing like good good old-fashioned new york city's subway. [laughter] >> that needs repaired also by t way. dennis: it will be after a crisis. up next space executive slapped with subpoenas but is tere any real wrongdoing? or is it of a witchhunt against the co-founder? the owners of a taxicab company suing there
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bloomberg say they said the inspectors aer his company sending to destroy the industry andup lawyer is here to claim my. coming up. wwent out and asked people a simple question: how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed much is the official retirement age. ♪ the question is howo you make sure you have the money you need to enjoy all of these years. ♪
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dennis: the witch hunt as some call it four sac capital steve cohen ntinues. they has been hit was new subpoenas after he himself was subpoenaed last week over insider trading but the probe is five years in and me is running a house and now let's talk abo chief operating officer of monster crew spent jail time if e stock options backdating scandal a few years ago and i imagine you must watch says with interest you know, what it is like to be the lighing rod that law-enforcement come after you think it is a witch hunt? >> my pleasure. to a degree i think it is. if they could have indicted him already a thing they would have five years is a long time as i watched the events play out in the press
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it has been astonishing one week after another you would think they could not do that. we're getting what is going on inside the grand jury investigation almost daily like they try it in the press because they caot do that to the court room. i wonder if they can get a fair jury at this point*. dennis: i met steve cohen added charity dinner and the most unassuming quiet man. he is n a swaggering that the fed takes the down by the targeting him because he is big and successful? >> i would think he makes a good target becse the firm has gh returns and there are people tied up in the investation. once that becomes the headline and heis out there to be mo successful than it is almost like it is an impersonal but it comes in on you and it is a game of
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wind or lose not justice. dennis: the highest is pounded down look at eliot spitzer of hank greenberg with aig that case ver went anywhere but they got rid of him than the company went into the trash. teasing sec officials are driven by people are being hurt or what good headlines to build my career? >> i mentioned this before there are good people and bad people in every place but there are enough in the justice department letter therefore career purposes. wes justice but could i get the seven figure whe-collar job for what is my next political office to make sure that what i need to get them.
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dennis: nothing like to make up for a birdie made off. vague subpoena steve cohen but i hear when u subpoena the main target that may mean he is nnt the main target when you had your unfortunate incident did they subpoena you or get them around you to tattle? >> i was almost the were more after my boss but it was more way to doubt. i think the government is playingivide and conquer hoping they can g somebody to fp i guess the people at sec that we all nee to hang together or hang separately so there is a lot of things the air and i am as surprised by the subpoena but i think it has increased pressure i would
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be shocked if there wasn't an indictment after all of this especially last night there was a presentation with the justice department where they should not and this see to heat up further and i have been through that. dennis: five years long only now use of the ned the four lieutenants he's got to go after them right away? thank you. switching gears are the taxi's being kicked to the curb? the calves have not been getting a taxi to route project reires of 13,000 cabs to itch over to the news on minivan they're not even the hybrid. on january 1st and a matter of office i will enjoy a long dash destroyer and industry also some overreach the odor from the
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texas association fighting back a thin, welcome to the show. of the of the mayor told your client to his fac directly he would come after him? >> he did but the entire industry he will destroy this industry and i think it is fair the industry asks the mayor and all the yorker's ask and how does he intend to do that, and why does he it is the electronic industry and is he doing anything to fill the threat? dennis: why would we want to switch all of them? there are 13,000 white to the nissan? it is not even the electric car. >> a great question eyes years agg and he said he wanted all hybrid fleets and signed legislation that allod us to put on over 6,000 hybrids today's over
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half of the fleets in new york city right now. dennis: already energy-saving hybrids. now they have to turn in the and drive the neece on that doesn't. >> ablutely. the taxis of tomorrow it is e taxi of yesterday of the combustion engine old-style minivan the only benefit is one uniform carr. that taxi that is not a hybrid actually violates t law so we brought our concerns to the mayor actually tohe taxi and limousine commsion to say we have one car you put all suppliers t of business one japanese car manufactured imexico, a gm, ford, suppliers are going on as business and we have to retire the clean hybrid energy cars that is
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the violation of the law. they ignored us. we went to court. dennis: is outside government seizure of property rights. what stager you rat? >> we w the lawsuit about the hybrid while we had the lawsuit pendingthey issued we over 10,000 violations against the industry they use th as leverage they came to one texting group if you drop another lawsuit we will get rid of the violations. dennis: are you kidding me? >> to the owners. dennis: that y are double parked the. >> all kinds ofegulations if you don't double shift, if you don't get out if you have the driver shortage, if you don't keep track of your lease contract , and there are all types of obscure regations deis: when you have
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thousands you give government a chance to pick and choose whatever rule they want to come afterou to hassle you spinet there doing it as leverage and they actually said if you drop this taxi of tomorrow lawsuit we will discount the tickets or t rid of them complete. we said no. immediately following folling, vaporized with thousands more and hundreds of thousands of dollars now totaling in million dollars. dennis: i cannot believe this. >> we filed the lawsuit with constitutional retaliation and after that lawsuit w filed the mayor lached his expletives threat to one of the members. dennis: where is the city's projt to force the entire cab fleet to drive any sign? >> what they are trying to do now is they have carved out one little type of hybrid that we said we can use limited to vehicles like the lexus.
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i am an attorney and i am married to an attorney that is the car i drive now the eets of new york ar supposed to operate the lexus? nobody can afford them and it is not a fleet carr this is what they are doing to say we have to give them an option we will make it so expensive that they have to use the neece on. dennis: it is sometimes not the best solution ban government and you are bubusiness sandy will do what i tell you to do. is seems about power and corol. >> i think so. the mayor tried to forc all the cabs to go hybrid. we were okay and and oers were against he d i get that so now he says now i will force you not to be. now he is in control. dennis: coming up is mcdonald's tricking kids into eating unhealthy foods? this nine year-old girl lectures the ceo at the ico meeting. or are the parents to blame?
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dennis: a nine year-old grabs the spotlight at the annual shareholder meeting yesterday challenging the ceo on the fattening effects of the cuine. >> i am nine years old. my name is an effort of their things like that just are fair i'd like when you pet dies or you have to go to a specially then does something i don't think is fair when companies try to trick kids to eat food that is not good for them by using toys. dennis: growing mcdonald's over serving junk food but is that monald's responsibility or is it the parents to insist tha they eat healy foods? we will talk to a certified dietitians entry now. so what happened at the shareholder meeting? was this stage or sincere?
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>> i think she is totally sincere and i praise her mother to bring her up that she knows the difference between healthy food and junk food. dennis: but is it mcdonnell's responsibility to stop advertising to ks? >> nobody should be doing predatory marketing now all ronald mcdonald is the big bad wolf he brings people in but really wha they get is diabetes and obesity. dennis: not -- no nine year-old girl can walk-in alone to order a cheeseburger she is with her parents a does not matterf she has an advertising messages aimed at her. they say no. >> have you ever been an end of a car with an annual to a screaming it is very difficult to say no sometimes. when mother called me today that she says sometimes you can't just say no and you
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cannot say any more then you give an end. i do believe it is the parents' responsibility but they make it harder on the parent and if they needo make it easier by not marketing to the children. dennis: come on. i feel like mcdonald's is the old and outdated complaint did has low-fat milk, a fat-free chocolate milk, apple slices instead of french fries, a grilled chicken salad, it runs public-service ads on the disney channel i see them all the time to get out and exercise. this is not a bad actor they are bad parents. >> low-fat chocolate milk is still filled with sugar. read 40 is banned in other countries for getting a dd and what about the eight mike muffin? if you use that ingredient you go to jail for 15 years.
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dennis: you use it where? >> in singapore. dennis: that kind -- country that banned chewing gum >> it is also an one-hundred countries that is one of the foods every golfer we have 13 othem there are also caramel color is suppose to be carcinogenic and negative a trows corn syrup. dennis: you are a fine pers and well intended but you act as if once mcdonald's and wendy's and the big people stop advertising to children and children will stop demding parents take them to eat junk food. that will not have been. >> it will help because the less time the children see this and attempted by the two ways to and stop pestering parents to make smarter jurors as i'm not ising parents are perfect breakfast without the childt
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and they have no excuse. dennis: nobody says the parents are perfect but it is the parents are the of the problem not the parents leave mcdonald's alone. have a great hooiday weekend. when you run for mayor you may want to show the actual skyline one your wsite anthony wiener just put up the wrong skyline on his. you can never have too much money. ♪
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dennis: all right, it is time for a little friday fun with spare change or you today we are joined with a seaport security expert. thank you for being with us. also, we are joined by in new york city party offiial. officials took upon themselves to be part karstadt etered spots the way. here's the kicker. they then feed the meers.
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>> you assume you feed the meter. you a lot amount in your budget for this. if someone else does this, it's not happy or good. >> you know, it is all part of the money grab. a ticket, raise revenue, that is what we are dealing with are it is no surprise. >> did you hear our previou guest who said that people had 10,000 tiket last year. parking is just such a nightmare.
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>> in los angelesdo you guys have those problems. >> see pictures of celebrities day-to-day getting tickets with their cars because they didn't make it back to the meter in time. >> there is a new and experimental program when they went out three bikes. and you partners, someone else grabs it, his is doing here in the city, isn't it? >> the tram sysm here is a little bit flawed. you cannot drive your car in the city. so they will run bikes. >> the tickets work this way. the bloombeeg way. if you run for mayor, you might want to make sure that your website describes the city. but thony wiener just otched
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it. he has a picture of pittsburgh instead of new york city. several bloggers pointed out that this is a rough start. >> given a choice, i'd rather see a bad picture or a mstaken picture, or an outline. >> there is so many different jokes u can make. i'm not going to make it even. yet, it is honestly not his fault. but you think with all the scrutiny that is going to be on the campaign that every little thinthat could be taking care of can be taken care of. dennisi think that the jokes will peter out eventually. i am just wondering, do you think that they will be doing this on purpose as a way of distracting from the twitter problem? thing all, look at the website. >> may be laborsaving little money and they didn't want to pay deposit. so they got a little discount.
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>> let's move onto the nextone. >> a police dartment valley falls, campus. let volunteers drive the cop cars. this is what one targeted in the words of a ton local. he was turning the siren on and off come the headlights on the not. he hit the airport a couple of times. he floored it. he gunned it. the policedepartment hted the @%ogram. >> first of all, i thought this was an onion episode. i did not think it was a true story the police actually let people just take their cars. i feel like i'm going toead about this in a magazine about the ne reality show. >> right. >> i cannot believe that police would get rid of people their cars. >> a great community building project. maybe they will think twice were
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committing a crime. i think that when you ut a regular person in the cop car, the first thing that happens is that every tv show caught chasing suddenly comes right off their fingertips. >> the person you're first thing you're going to do is turn on the siren. who has the ability to feel what it's like to turn on the siren? >> and what about arrested development? the time has come. we are going to put the brand-new season of on the table here. >> i am looking forward to it. dodoes anyone have theefrozen banana stand out there? [laughter] is going to change the way people watch v. >> what do you think jason? >> it's pretty exciting. as we were talking about this earlier, this is a new form f the video, it interactive, people get to watch what they want to watch. they don't have to do it online or on tv.
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>> netflix charges about $8 per month for all you can eat. just becase people watch arrested development, netflix is making more money on it. >> i think people will say that there will be more opportunities liken. that will do it. we will see you tomorw. ♪ john: what do you know about gasoline? zero oil companies? >> wait too much. john: i am told at the mall wil help. >> a new hero is rising. saving our future. john: it does inease smiling. >> you can add miles. john: a lot of myths. that is our sh tonight. ♪ >> and now john stossel. [applause]


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