Skip to main content

tv   After the Bell  FOX Business  December 6, 2013 4:00pm-5:01pm EST

4:00 pm
reportedly but that is not good news. [closing bell ringing] david: the good news this is one hell of a way to end the week. talk about going out with a bang. we're so close to the dow up 200. it is 199.27 right now. we may close upside on 200 mark on the dow. look at all indices doing well. the dow was the best performing index that we were looking at today. s&p a close second. nasdaq about half as much. and same with the russell 2000 small and mid-sized stocks. a terrific, terrific number on all based on that original number we got at 8:30 on unemployment. liz: it is part of our front page headlines. really a great day after the unemployment rate fell to a five-year. 7% is where the number stand right now. the labor department saying the economy created 203,000 jobs last month. that is well ahead of wall street forecast. david: there were upbeat news on consumer confidence today. the thomson reuters university
4:01 pm
of michigan reading for december was the highest in five months at 82.5. liz: philadelphia fed president charles plosser says the positive jobs report should absolutely encourage the federal reserve to scale back those big asset purchases. plosser is a long-time critic of the fed's bond buying program. david: billionaire hedge fund manager eddie lampert is spinning off sear's lands' end closing business. he has been ceo of sears since february. his firm controls more than 4% of that company. liz: shares of american eagle outfitters down 10% after the retailer issued a lower than expected profit forecast for the fourth quarter. the company said third quarter earnings plunged 68%. david: much of the u.s. is in the grip of old man winter this afternoon. a massive winter storm hit texas. we're still in fall officially by the way, much of the midwest, disrupting travel and cutting power supplies for hundred of thousands of customers. we're here on a very hot day of
4:02 pm
trading. "after the bell" starts right now liz: smoking hot as these numbers settle well to the upside. good afternoon, everybody. time to look at today's market action. we have kimberly fos. , who says that the market will continue to rise as investors no longer fear the taper. you're right, kimberly, they didn't look fearful today. we have the another chief investment officer why investors should allocate 50% of their portfolio to, foreign equities. chris joins us from the pits of cme. take it away. the vix falls as david mentions. not a lot of fear here. equities take off. surprise or not? >> not surprise, we opened higher and stayed higher. you know what? if anything that would have really slowed us down was that awesome consumer confidence number that came out. all of sudden we saw an up tick
4:03 pm
in the bond yields. soon as that came out we saw it down. equities have been up all day on light volume. vix is down on light volume. david: really, kimberly, it was a sweet spot. that is what the jobs report was. it wasn't so good to sort of mandate a taper but on the other hand it was good enough to keep sales going. despite that and market rally there is still so much cash on the sidelines. some reports of 2 1/2 trillion dollars of cash. when and how does that cash get into equities? >> you know, i think individuals are getting more confident with the, the improvement in the economy. this jobs number definitely adds to that. like you said, although it wasn't too optimistic, and it was just right i think for the overall market. david: it was a sweet spot. >> folks now, i had my client appreciation party last night. word on investors they're more confident. their monies are coming off the
4:04 pm
sidelines, you're right. ici.org is $2.66 trillion on the sidelines. those moneys are flowing into the market. it was 2.7 trillion or billion in january. those monies are coming into the market. that is where i think, that the jobs market, the fact that there's a lot of cash on sidelines and yellen will probably continue with the dovish attitude. this is only a formula for this market to go hit higher highs. liz: matt, this is a two-fold question. is that dangerous? that the retail investors is are coming off the sidelines in droves? that tends to sometimes signal that the herd is a little late and hit it at wrong time. >> good question. liz: if you believe that is not the case, guide investors, where should they be putting money in 2014? >> our studies show individual investors almost always get the timing wrong. they buy the tops. sell the bottom. over and over again in almost every asset class. what we're seeing right now the
4:05 pm
u.s. equity markets are expensive, there is no doubt about that. almost any valuation indicator says that it is not a bubble but they're expensive. we track 44 countries around the world. looking at valuations most of the world is pretty cheap. the u.s. is the most expensive we track but vast majority of the word is actually pretty reasonably priced. some are what we consider secular lows. david: we'll get to some specific picks but i want to get to kimberly's for a second. interesting you put financial at top. bank of america you think is a buy right now. why? >> well i do think that the financial sectors we're not individual stock pickers. we are broad diversified in 44 different countries and over 12,000 different stocks in our core portfolio but that is one much the top headings in the core portfolio and there is a lot of reserves, david, on the sidelines. all the financials have really accumulated a lot of reserves. so there's a lost upside potential. bank of america specifically --
4:06 pm
david: forgive me for interrupting, but what are those reserves doing? they're not being lent out. this is obviously a big problem the fed has right now. they have all this cash they put out there. the banks are holding it in reserves. a lot they're holding with federal reserve for quarter percent interest rate but not going out in loans. when will that happen? >> you know, i think when the economy as this economy is changing and getting more stable, there is better improvement for the average person out there to go out and get loans. their credits are becoming much more stable. i think the tide is turning. this is where then the banks will make the money, in executing these loans and giving loans to the average retailer which will only improve our economy. that is the backbone of our economy. liz: you don't want to be left holding the bag where we've seen a huge run-up with u.s. equities. you're saying 50% of the people's allocation should be in foreign. that's a broad statement. where specifically? >> well most investors have a home country bias. if you look at global market cap
4:07 pm
portfolio the u.s. is half, right? so at minimum you should have half in foreign. we argue it should be closer to the 60 or 70% in foreign. even closer to 80% largely because of valuations. if you look back at late '80s japan was almost half of world market cap. who was the most expensive market in the world. same problem you have here. we look to any foreign broad indexes. our approach is as we're looking shareholder yield companies. so companies that are cheap but also paying dividends, buying back their stock we think are much more attractive than the broad market. liz: can you be more specific with names and countries? >> sure. if you look at a lot of bombed out europe, greece is one of the lowest values we've ever seen. trading long-term p-e ratio of three or four. most of europe and also russia, brazil. there's a lot of countries trading at a sub-10 pe. i think much beter p-e opportunity than u.s. david: sticking with you for a second. you are not in favor of the big
4:08 pm
dividend-paying stocks but you are of shareholder yields. what's the difference? why are you against big dividend payoffs, those stocks? >> there's roughly five things that a company can do that is cash flows and dividends are just one. investor to focus just on dividend we think is a huge mistake. so dividend stocks historically traded 20 to 30% of the discount to overall market. they're trading 20 to 30% premium largely because of all money flowing into dividends for the past decade. if you look at shareholder yield, which also includes buybacks, those companies are still trading at discount. i think it is much better place to be, much safer place than high dividend yielders. liz: kimberly, get to your stock picks. start throwing out some names. among them, we can put up a list here. do they have a common thread? >> i think cvs has upside potential. again they're in our core portfolio. we don't hold them in individual
4:09 pm
securities. however i think when the affordable care act actually gets its legs and is actually more stable and understood, that has the potential to increase cvs and have a profit of, prescriptions and drugs in that aspect. so that is why we think cvs is a good hold. david: chris we're talking about everything going up with the exception of barnes & noble. i have to talk about one thing going down for past couple weeks and is that gold. is gold a dead play for another several month or when does it get back on its feet if ever? >> gold is dead play as an investment right here but a lost traders immediately after that number held that 1210 level. a lot of traders on my desk bought that level. wrote up to about 1240. a lot of investors are looking for can it hold the low we put in june at 1117 level? as far as the futures traders are concerned, if we hold 1210 into next week we could be short-term bullish end of the
4:10 pm
year. as long-term investment i don't advise it. here's the big thing. everyone is talking about equity valuations. we're talking about a gdp of 3%. nominal at 4.5%. to your other guests how can we justify these valuations in the s&p right now? it is unreal. i think we're in for a short sell first quarter next year. liz: oh, boy. well, thank you. we appreciate it. consider yourself forewarned everybody. by chem birly and med and chris. chris, thank you very much. we'll be back to you if a few minutes with the s&p futures close. david: gasoline prices have fallen sharply but that is not stopping automakers from developing more fuel-efficient cars. we'll tell you what automaker is claiming bragging rights for the most micerly car on the road. liz: you have to hear that one. jobs numbers are in and surprised to the upside. so what is the federal reserve to do now and how will markets react when the fed does pull the taper trigger?
4:11 pm
we'll game it out next. david: pulling the taper trigger, i love that that takes us to today's facebook question. do you think today's jobs numbers are big enough for the fed to announce a taper in the next two weeks? that is how long to the next meeting. facebook.com/afterthebell. your answers coming up. ♪ [ male announcer ] what if a small company became big business overnight? ♪ like, reallyig... then expanded? ♪ or their new product tanked?
4:12 pm
♪ or not? what if they embrace new technology instead? ♪ imagine a company's future with the future of trading. company profile. a research tool on thinkorswim. from td ameritrade.
4:13 pm
yep. got all the cozies. [ grandma ] with n fedex one rate, i could ll a box and ship it r one flat rate. so i kn untilt was full. you'd be crazy not to. is tt nana? [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. [ male announcer ] fedex one rate. [ mthat if you wear a partial,w you're almost twice e as likey to lose your supporting teeth? try poligrip for partials. poligrip helps minimize stress which may damage supporting teeth by stabilizing your partial. care for your partial. help protect your natural teeth. ♪ [ male announcer ] the parking lot helps by letting us know who's coming. the carts keep everyone on the right track the power tools iroduce themselves. all the bits and bulbs keep themselves stocked. and the doors even handle the checkout so we can work on that thing that's stuck in the thing. [ female announcer ] today, cisco is connecting the internet of everything.
4:14 pm
so everyone goes home happy. liz: literally 50,000 different kind of hairspray are on the shelves at ultra. david: half of them in the green room. liz: utl a-shares plunged. this is popular stock last couple years. shares plunged to lowest level in last month. what happened here, nicole. >> not even big hairspray used at fox could not save ultra. here are couple things for ulta. numbers came below analyst expectation. ceo mass been working on near term growth for the company, the long-term perspective they have been trying to work on the company, she took over in the last five months, basically were
4:15 pm
not doable. she has been trying to turn it around. meantime, today, terrible. in addition to that, you had jeffreys cut the target. piper jaffrey cut the target. stearn ag cut the target. you get the picture. tough day. david: we do indeed. thank you very much, nicole. have a great weekend. five seconds ago the s&p futures closed. go back to the cme chris gersch, will you see profit-taking on monday or full team ahead? >> no profit-taking here in the last 15 minutes. we actually see an up tick of about half-point on the close. and, as it is settling up right now i think that no one really will hit the bid. so to answer your question, monday, there is more buyers than sellers i think in the market right now for remaining of the year. story of sellers will come next year when we have volume kick into the market. david: monday, dow 17,000. that is my prediction. 1,000 points in a day. they are buying into the weekend. that is good news for the
4:16 pm
market. thank you, chris. liz: good news came to the u.s. economy today at 8:30 a.m. eastern when it was revealed we saw 203,000 jobs added in september. -- november. unemployment rate dropping to five-year low of 7%. that is latest of series of stronger than expected reports on the economy. david: but are today's data strong enough to convince the fed to taper bond buying program before the end evident year? we have payden & regal's senior economist. jeffrey, thanks for coming in. appreciate it. >> hi, david. david: the reason the market was so happy, it wasn't quite good enough to make it a sure thing there would be a taper in the next meeting but again it indicates a strength that may keep that purchasing power going on the part of the consumer, right? >> well, 200,000 jobs, it's dead on the three-month average, david. it's just above the 12-month average. if you look at the three-year average, that is 190,000. so we're right in there.
4:17 pm
continued moderate growth. that's good but the fed is looking for more than just payroll growth. they want to see inflation stablize and then move higher. i think what was clouded out today in hoopla of the jobs number was another report released by another statistical agency, the bea, which was the personal consumption expenditures report. had a price index that the fed follow closely and it was up 1.1% year-over-year. and that is one of the lowest in the last 50 years, really. that is very low levels of inflation. the fed wants to see that move higher. so i think if you look at payrolls on their own points towards taper, raises probability up a little bit but when you factor in inflation, that would give the fed pause. and maybe, asked for 2014 taper scenario rather than a december december 2013. liz: your third point was gdp growth. we got better than expected reading on gdp, 3.6%.
4:18 pm
does that continue? there were questions how real that number was. how real was it? >> liz, from our perspective ignore that number. it is q3. it was boosted in large part by inventories which we think are volatile. we'll give some of that back. liz: what was the real number, jeff? 1.8? 1.9? >> i think closer to 1.8, 2%, liz is where the u.s. economy is in q4. that's a key number. now the fed, fed wants to see high 2s. they want 2.8 or maybe 3%. we're falling a little bit short of that so that again, argues for not tapering here in the two weeks from now. maybe waiting, seeing more data, seeing how things shake out over next couple weeks on capitol hill. david: all right. >> then making a decision. david: jeff, let me push back a little bit on inflation. i always get the emails. i think they're perfectly justified, yes, we as consumers are hit by inflation because a
4:19 pm
lot of inflation stats ex-out food. people have to eat and buy food. they have to use tolls and public transportation. we know the price of government is going up. so there are certain things that consumers can not avoid are being inflated in price and that are cutting into their purchasing power that means less purchasing of goods that might affect stocks eventually, no? >> hey, look at this way. even economists have to eat sometime. we need to factor in food inflation. we do need to look at that i would direct you to this. look at cleveland fed. the cleveland federal reserve bank puts out a median cpi every month after the regular cpi and core cpi come out. that includes food and energy. just xs out or removes whatever is volatile in any given month. that is really what we're after. we're looking for big spikes upward or downward. we want to smooth those out. if you look at that measure, david, it is 2% year on year
4:20 pm
which is, not deflation but it is not hyperinflation. it is not rapidly rising inflation. it actually quite low. david: no, but it affects purchasing power. it affecting purchasing power. >> yes. david: people feel less able to go out and buy things. >> you're absolutely right. if you look at jobs report today, david, wage growth, average hourly earnings. only 2% year on year. so that right there is washed out by any rise in the cpi that is 2% or so. so in real terms the consumer is still struggling. we see that reflected in consumer spending in the data. that will affect gdp and equities. you're right. liz: they should go on couponcabin.com. jeff, we have the one who heads the company, saving consumers $22 million, david. david: wow. liz: thanks to jeff cleveland. david: fighting back at the ballot box, microsoft is coming
4:21 pm
out swinging against criminal mastermind of a network of infected personal computers. how is microsoft doing? we have a update next. liz: while much of u.s. shivers in white out storms, a very different hazard causing chaos in china's financial centers. whiteout of a different kind. david: i don't want to live there. liz: that's awful. ♪ this is the quicksilver cash back card from capital one. it's not the "fumbling around with rotating categories" card. it's not the etting blindsided by limits" card. it's the no-game-playing, no-earning-limit-having, deep-bomb-throwing, give-me-the-ball-and-i'll-take- -to-the-house, cash back card. this is the quicksilver cash card from capital one.
4:22 pm
unlimited 1.5% cash back on every purchase, everywhere, every single day. so let me ask you... at's in your wallet? every day we're working to and to keep our commitment- and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more ithe u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger. if hey breathing's hard., copd includes emphysema and chronic bronchitis. spiriva is a once-daily inhaled copd maintenance treatment that helps open my obstructed airways for a full 24 hours. spiriva helps me breathe easier.
4:23 pm
spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells, you get hives, vision changes or eye pain, or problems passing urine. other side effects include dry mouth and constipation. nothing can reverse copd. spiriva helps me breathe better. does breathing with copd weigh you down? don't wait to ask your doctor about spiriva.
4:24 pm
david: time for a quick speed read of some of the day's other headlines, five stories in just
4:25 pm
a minute. new details today about how the volcker rule is likely to be enforced. leaks suggest bank ceos will be required to guaranty their firm's compliance to insure that they are aware of trades at their banks. the securities & exchange commission is requested information on jcpenney's finances. the news caused the stock to fall ben today. the sec is going to be looking into the company's liquidity cash position and debt and equity financing. chevron $6.4 billion gas project in china will be delayed even further due to disagreements with its partner petro china of the as of now the project is not expected to deliver gas until late 2014. toyota reclaiming the stop spot producing the world most fuel efficient car three months after it lost the title to monday today. the remodeled aqua compact gets 87 miles per gallon. shanghai officials release ad warning for the dangerously dense smog. it is so bad that children have
4:26 pm
to be ordered inside and stay there. [buzzer] that is today's "speed read." liz: that is terrible. i hope it doesn't come across the ocean. >> it's a terrible place to live. liz: let's get to microsoft. microsoft taking on criminal hackers responsible for a massive digital fraud scheme that has spanned the globe. david: joining us with details, jo ling kent. jo, this is fascinating stuff. >> it is really, and something that affects a lot of us directly. microsoft waited for months watching a botnet called zero access that infected millions of computers around the word. with the help of fbi, law enforcement overseas and a court order microsoft attacked on thursday, cutting off act es ses to servers primarily based in europe. microsoft investigators targeted zero access botnet because it fraud anti-ly bills $2.7 million a month with online advertisers with link bait. to get a sense how many
4:27 pm
computers are affected on daily basis, look how many were targeted december 1st and 2nd alone. 22% in the u.s. 8% of those computers were in india. 6% in italy. turkey, 5%. 47% were in other countries. about there. so if you're wondering why microsoft is investing so much on counterattacks because it has to defend its own products. the binge search engine, bing ad exchanges and windows are prime targets according to the company. as digital ad business grows experts say there are more opportunities for criminals to slip in and take opportunities. digital ad spend something expected to rise 14.9% year on year to $43.2 billion according to e marketer. digital losses for display ads could run as high as $10 billion here according to security company solve media. microsoft's stock closed 1% higher. after-hours it is up nearly
4:28 pm
1.4%. liz: got the bad guys. love that. david: nice sting. nice sting. liz: can't wait around for government offices to do this stuff. >> lots more to go. david: stay tuned. thank you, jo. >> thanks. liz: we have three weeks till christmas, that's it but there are still so many deals left. why not make money? why not save money? well, guess what, have you heard of couponcabin.com, david, godiva, spanks, all high-end products. savers for last minute stocking stuffers. david: spanx, is that some s and m thing? we'll find out about that. president tries to change his own health care rules to allow folks to keep their own plans in violation of the law. why are republican insurance commissioners being more help if you recall than commissioners from democratic states? we'll have louisiana commissioner james donaldson in a fox business exclusive you do not want to miss. ♪ what's betr than zero heartburn?
4:29 pm
4:30 pm
♪ nothing, that's what? that's why i take prilosec otc each morning for my frequent heartburn. 'cause it gives me a big fat zero heartburn.
4:31 pm
woo hoo! [ male announcer ] prilosec otc. the number one doctor recommended frequent heartburn medicine for 8 stright years. [ larry ] you can't beat zero heartburn. and best of all, it means i can enjoy all the foods i love. oh, zero heartburn is awesome. just like zero clery. ♪ [ male announcer ] prilosec otc. one pill each morning. 24 hours. zero heartburn. liz: black friday, cyber monday, small business saturday, all are over but the shopping is still in full swing. does that mean the deals are done? turns out it is not too late to find some serious bargains. joining us now a woman making that happen for you. jackie warrick is
4:32 pm
couponcabin.com president and chief savings officers. we have staff members devotees of coupon cabin. i saw cutest pair of uggs, 30% off. i thought where the site has been my whole life. tell us how you got started with this. >> yeah, we do have great deals for everyone shopping this holiday season. regardless what you're looking to buy we're working with over 2200 retailers and securing best coupons for our shoppers. liz: well how do you do it though? the best keep response, i've seen 15% off. here you have 30%. some expire, uggs one expires december 1th but deals are still out there, correct? >> right. people think they have to participate in black friday or cyber monday in order to get a good deal. that is just not the case. retailers are going to continue to offer great deals up until the holidays. we're scouring the web 24/7, again to make it as easy and convenient for people to save money. liz: right off the bat i have to ask you, what are the
4:33 pm
best-sellers so far? the was the site swamped over any particular item? >> coupon cabin is not very product specific. like i said regardless what you look to buy, we typically have a coupon for you to use. one thing people forget, one item can be bought at number of different retailers. important to do your research and compare prices both online and in store to make sure you're getting best deals. >> how many partners do you guys have at this point? >> we work with over 2,000 retailers on a day-to-day basis. working to secure special, deep discounts for our users. >> do you get any pushback from, well, okay. i looked at macy's. immediately there were deals for macy's of the that is high-end store. you have also old navy. are you getting pushback from flash sale guys who tend they want to offer product specific things which you kind of steer away from? >> we definitely still work with
4:34 pm
the flash site stores but i think that one thing to note is that, people learned over the years that they don't have to pay full plies and they're not going to. so, retailers have definitely started to accommodate that shopping behavior and starting to offer more coupons on even those that may into the have once wanted to be in that category of couponing. liz: you joined, this is professional/personal question, you joined couponcabin in 2007 as employee number 3. account manager and now you're running place. what is number one characteristic that really helped you, stood you in good stead to climb the ladder, i wouldn't say corporate. i'm sure it is very unique atmosphere. what did you have to make it so you were able to climb that path? >> well i think like you said i started as an account manager. i know that i'm willing to do whatever it takes. i want to save our shoppers money and if that means adding coupons to the database then
4:35 pm
that's what i'm going to do. liz: again a lot of people run employed right now. you saw the jobs numbers. they look better than expected. do you see that reflected on your site? that would make your site more popular where people are driven to find better deals but how does the consumer look from where you sit? >> definitely the economy had effect on people starting to use coupons again or more religiously. like i said because people have learned they don't have to pay full price they will not go back to those foolish ways spending their money. they're definitely being smarter about it. liz: i was talking to my coanchor david, about something i saw on your site with spanx, he said was that, what did you say, david, an s and m thing? space are so hot. he doesn't know. that is girl thing. they're sort of fancy gird dills of the new millennium. who have you landed made you excited most recently, new additions to your site? >> we started partnering with
4:36 pm
forever 21 which is definitely all the rage with the young girls. liz: sure. >> and that's a really great partnership to have. we also worked directly with spanx as well. check out a coupon for them. liz: david, be sure to check out a coupon. jackie, thank you. good luck to you and team at coupon cabin.com. she is president and chief savings officer. david, i looked at this. there were 12 things i wanted right off the bat. david: and spanx? liz: i don't need that. david: guys don't know these things. one state insurance commissioner calling the health care overhaul half-baked. how does he think we can mend america's health care system? we talk to the national association of insurance commissioners president, james done lan. can high-end art sell luxury real estate? we look at a gathering of some of the world's richest folks to buy art is helping to boost south florida's real estate market.
4:37 pm
that is coming up in a moment. ♪
4:38 pm
4:39 pm
4:40 pm
david: president obama trying to alter his own health care plan to let policyholders keep their old plans even if they're technically in violation of the new law but some state insurance commissioners are balking. and the irony is, most of those who oppose the president's changes are actually from democratic states while our next guest is an insurance commissioner from a republican state. guess where he stand in a fox business exclusive louis insurance commissioner and national association of insurance commissioners president james done owe lan. done lon. good to have you here. in general how is it rolling out in louisiana? >> oh, it is rolling out over a very bumpy road indeed. the website being the first and most important issue and challenge for consumers trying
4:41 pm
to access the subsidies, trying to get coverage. if they have existing conditions that they need the guarranty issue protection for, it has been a very rocky start as you know. david: before october, before this thing was rolled out a lot of critics said it wasn't ready for prime time. indeed isn't that what we found? in fact you used the term, half-baked to refer to it? >> no question about it. the bill itself when it was passed, when i say half-baked, it was rushed through hen senators kennedy's 60th democrat vote switched over to the republiian side and they no longer had the filibuster-proof majority they needed in order to accomplish their stated goal. and, because of that, rush, in an unfinished fashion, it had a lot of inconsistencies with within itself. some of the criticism being,
4:42 pm
they didn't even know what is in the bill when they passed it. congresswoman pelosi got criticized for some of her quotes along those lines. i think, i think that was correct. i think that's part of the problem. the other part, most recent problem, is the challenges that the i.t. system, that you would think after three years, the federal government would have had ready for prime time but obviously it was not. david: obviously not. another problem the president at least has begun to address all those millions of people had individual policies who lost them, he wants to give folks like you, insurance commissioners a chance to allow people to go back to their old policies even if they are technically in violation of obamacare, the new health care law. it could affect up to five million people. the europe any is is, that republicans such as yourself, are more interested in supporting the president's change than democrats. why is that?
4:43 pm
>> i would think it is happenstance. we are regulators at state level and it is our call as he acknowledged in his press conference and meeting with us a week later, we are the regulators of health insurance. in fact he said during our meeting some of his advisors originally wanted him to displace us and take it all under the federal government authority and he said no. david: let me push back a little here because 10 democratic states, 10, have said, we are oppose the president's plan. we want to continue with obamacare as it was. people who lost their policies that is too bad for them. we have to go on, get all the young people with all extra things they don't want or desire, get them to pay for it. so my own feeling is, that they realize, democratic commissioners realize obamacare falls apart if they don't get young people to buy stuff they don't want to buy. >> no question about it. it is a real problem for the whole system.
4:44 pm
as i explained to the president, you can't at the very last minute make changes like this without having a domino effect throughout the whole law, the whole reform effort that was undertaken under the catchphrase or the title of affordable care act. everything is interconnected with everything else. david: yeah. >> by delaying the small group part that he did a couple months ago, that had an effect. by this last-minute say, you can allow folks continue non-compliant policies, that has an effect on that bucket of business that is in the compliant policy batch. cost, solvency, all those issues had to be concerned and for my market here in louisiana, my concerns about solvency were disposed of by my staff. david: that is little unfair. because we're looking at a clock tick away here. you only have 30 seconds. what would be the single most important thing you would suggest to do in order to make
4:45 pm
health care more affordable? this plan at least so far hasn't done that. >> the single most important thing i would urge is if we could get to start all over again, go with the model that has been in place for a decade or longer of health savings accounts to encourage consumers to make their own choices as to how high a deductible, what doctors they want, how much co-pay they're willing to take in order to get a keep cheaper premium and take that decision-making out of hands of employers to the extent possible. >> cut out middleman, whether insurance companies or government or anybody else. that's the key. james donnell lon, louisiana insurance ccmmissioner. go ahead. >> even employers who have the best interests of their employees at heart i do believe but i think the better choice is for consumers themselves to make those decisions. david: gotcha. commissioner have a wonderful weekend. thanks for joining us.
4:46 pm
come back and see us again. liz: forget about "miami vice." how about miami art? could lead to a huge real estate pay day for miami properties and developers. we'll explain in a moment. amazon grabbed headlines for the plan about drone deliveries, you heard about that earlier this week. the navy is looking at a deadly pilotless vehicle. it could transform air warfare forever. ♪ ♪
4:47 pm
[ engine revs ] ♪ ♪ [ male announcer ] the mercedes-nz winter event s back, with the perfe vehicle that's jusright for you, no matter which list you're on [ santa ] ho, ho, ho, ho! [ male announcer ] get the all-new4 cla250 starting at just $29,900. [ male announcer ] get the all-new4 cla250 every day we're working to and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp amica'slargest en. our commitment has never been stronger.
4:48 pm
4:49 pm
4:50 pm
david: is there a prettier city during the holiday season? i don't think there is. south florida real estate sales are surging. what better way to spark interest in a high-end property than combine it with high-end art? liz: fox news's phil keating live from miami, florida. art basal is huge, isn't it? >> it is enormous, liz and david and the place to be this weekend. there is $3 billion in art hanging on all of the waas here at the miami beach convention center. well-heeled art collectors from around the world are in town. they're walking around, checking
4:51 pm
all of the art, which is all for sale. so far much of it already has sold. and a lot of these art collectors of contemporary art will be leaving town, only after they collect themselves some real estate. the two seem to go hand in hand. south florida's booming real estate economy right now with 23 months in a row of increased real estate sales. art is also helping to not only stimulate but push the sales of high-end properties. this two level condo on ocean drive includes with it, about a million dollars in fine art. >> we think art is very important in today's real estate world. in miami, what we're seeing is that we are one of the top three cities for artwork next to new york and los angeles and so for us in general to be able to combine that, we feel is a strong selling point to our real estate market. >> developers are also prioritizing permanent art
4:52 pm
integrated into their concepts and design especially in high-rise condo towers like 1,000 museum place designed by a world-renown architect. real estate agents say today's buyers demand it. >> if you look at industry on a whole i think it has evolved and i think buyers tastes have evolved and people want, they're more sophisticated in a way. they want the best art. they want the best finishes. >> famed argentinian designer alan faena is building a art centric district in miami beach, a concept that is art in of itself. >> you have a big responsibility because you're bidding the future and you are building the present also. so it is important to offer to your city, to your people, something that will last forever and have the art and culture of the moment that you are building it. >> now this booth we're in right now is the gallery from houston specializing in a lot of
4:53 pm
south american art. a lot is kinetic art like this one. the real showstopper is that multicolored one on the wall. that is by carlos diaz. the price for that? $690,000, liz. that is what i call david asman money. david: thank you very much. if i had that much cash to give away, no offense to the artist, i don't want to get you in any trouble, phil, i think of "scarface" and i'm wondering if some of the cash that is changing hand there is maybe a attempt to launder money? any sign of that? you're a good reporter. >> you know that is an interesting concept but there's never been really anything said about that. back in the '80s cocaine capital days certainly a lot of money built the skyline currently miami beach and downtown miami but most of these people are say, wealthy art collectors from around the world. you're hearing german spoken, russian, multiple languages, if you flock around here, the other art basal's festivals in
4:54 pm
switzerland every year. according to the art scene, put miami on the map as far as art and of course, the art is helping to really continue the real estate scene. liz: glass jellyfish lighting is the must-have. so now. i love it. david: terrific story, thank you very much, phil keating. have a great weekend. >> thanks, guys. have a good weekend. liz: costly cracked iphone screens, who among us hasn't experienced that? could become a thing ever past thanks to technology normally found in cars. david: wow. liz: details of the ultimate smartphone accessory when we go "off the desk." david: my wife wants to hear about that. the economy added 203,000 jobs last month. we asked you on facebook, do you think today's jobs numbers are big enough for the fed to announce a taper at the meeting next couple weeks? we'll read comments of yours coming up next. ♪ as a business owner, i'm constantly putting out fir.
4:55 pm
so i deserve a small business credit card with amazing rewards. with the spark cascard from capital one, i get 2% cash back on ery purchase, every day. i break my back around here. finally soone's recognizing me with unlimited rewards! meetings start at 11, cindy. [ male announcer get the spark business card from capit one. choose 2% cashack or double miles on every purchase, every d. what's in your wallet? i need your timesheets, larry! if every u.s. home replaced one light bulb with a compact fluorescent bulb, the energy saved could light how many homes? 1 million? 2 million? 3 million? the answer is. 3 million homes. by 2030, investments in energy efficiency could help americans save $300 billion each year. take the energy quiz. energy lives here.
4:56 pm
you can fill that box and pay one flat rate. i didn't know the coal thing was real. it's very real... avid rivera. rivera, david. [ male announcer ] fedex one rate. simpleflat rate shipping with the reliability of fedex. [ male announcer ] fedex one rate. stick with innovation. stick with power. stick with technology. get the flexcare platinum. new from philips sonicare.
4:57 pm
she loves a lot of it's what you love about her. but your erectile dysfunction - that could be a 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 oh, like nding to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask 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. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term iury, seek immediate medical help for an erection lasting more than 4 hours. if you have any sudden decrease or loss in hearing or vision, or iyou have any allergic reactions such as rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. ask your doctor about cialis for daily use and a 30-tablet free trial.
4:58 pm
(announcer) at scottrade, our cexactly how they want.t with scottrade's online banking, i get one view of my bank and brokerage accounts withne login... to easily move my money when i need to. plus, when i call my local scottrade office, i can talk to someone who knows how i trade. because i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade-proud to be ranked "best overall client experience." ♪ david: time to go "off the desk." are yoo worried about protecting your iphone? japanese car maker honda released a video showing as smart found case, yes, those are air bags, folks got to prevent your phone from getting destroyed in an accident. the phone accessory has six airbags. now, fortunately the smart phone case is only a concept. it will not be available to buy. although, who knows if this.
4:59 pm
maybe some inventor out there. liz: ice think amazon and the drone story inspired that. we told you about the amazon prime airdrome for deliveries. the water stone now will drone. that was their answer in competition. one of the logical waterston lending service. and then we found the chicken drown. yeah, right. like that will hold up. now something incredibly real. drone warfare. expected to help the navy college crucial intelligence. underneath the water. david: we ask you on facebook and twitter if you think today's jobs numbers are big enough for the fed to announce the taper and a couple of weeks. barnaby on facebook road into said the fed will definitely start considering tapering but -- and this is the important much -- i don't see it happen until early lead -- next year.
5:00 pm
liz: a u.s. judge rejected efforts by a consumer group to block the mega airline merger between american and u.s. airways. the deal closes monday creating the world's largest airline. but parker, the ceo, joining cheryl casone at noon eastern. don't miss it. melissa: robots and drawn sticking over the work force. jobs are vanishing. president bush's chief economic adviser tells us right now, because even when they say it's not, it's always about "money." ♪ think 7 percent unemployment is good news? at that rate, think about this, the way things are going, automated checkout, drawn deliveries and robots that can do just about anything. your job and millions of others could be on the line. there is a structural change going on in our economy as we speak. joining me now to break it down,

25 Views

info Stream Only

Uploaded by TV Archive on