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tv   Cavuto  FOX Business  January 20, 2014 8:00pm-9:01pm EST

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♪ double mocha. neil: hey, chris christie. what was the rush? you were so quick to read john rate john boehner over the coals. you never this. this. >> there's only one group to blame for the continued suffering of these victims. the house majority and their speaker, john boehner. you and you didn't know what to do once you got it. and some of these latest reports, if they are right, you're playing very petty politics long after you got it. but don't say that i didn't warn you..3 think of all the money that we
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have wasted not tracking it. the money that went to haiti to help them out but never really help them out. the money that never really help anyone out in louisiana. >> with this money there were plenty of other untold millions. >> sahadi attracted? this is one of those occasions. everything that i have learned that sends shows that almost everything that the new jersey governor did with his money was wrong. welcome, everyone. i am neil cavuto and this is even harder to comprehend. the governor is playing
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tit-for-tat with traffic. doing the same inning on a much grander scale. a special committee of new jersey lawmakers looking at allegations that chris christie used as the ultimate political weapon. >> the governor pulled me aside and said that you have to move forward in this project is really important to governor. and this is a direct message from the governors beyond the governor's people the curiously new jersey is back and open for business in the midst of this election race. to many it is not exactly ethical either. that is what happens when numbers get so big. little stuff like this look
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through the crap. and otherwise deserving victims of into the cracks as well. just as we predicted. a lot of that has nothing to do with sandy at all. countless other projects are far from its path. and also considering the fact that most of that to this day remains unspent. so what was the rush? and who decided who got what? it's hard to say if the governor had anything to do with this. as i do know that he made a very big deal out of stopping ms. i'm not saying that the governor owes speaker john boehner an apology but they are demanding an account for funds. and it would be a good start because there is no accounting for what is looking increasingly like possible fraud. does any of this ring a bell? so how long have we lamented the huge sums of money wasted by
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both parties including the big bailouts by president bush? the bigger the money gets generally the more accountability for how it is spent shrinks. so michael, obviously accountability was lost. and we don't know where it started. but we know that to this day hurricane sandy money is meant to help the victims. a lot of it didn't go to hurricane sandy victims. >> you are right. most people don't get that the pressures and the projects and everything that existed before a bucket of money comes into this, those exist after the big bucket of money comes into this as well. so i want you to think about the governors in the states like that. they are like the uncle that wins the big lotto. and now all of those pet projects and pressures that existed beforehand, suddenly there is a relief valve valve
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and a spigot that is a giant bucket of money that comes in. and everyone starts to maneuver and manipulate everything that they can do to get that where they wanted to go or to keep it from going to a place where they don't want to go beyond i know that's a bad word and in this case hurricane sandy victims and it should be for it hurricane sandy related damage. >> with a situation like sandy you will have a couple of buckets of money. some goes to individuals and that's a little bit more difficult to play politics with because it really needs a good individuals.
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or something we've been trying to stop and now we have leverage and they have a way to either make it happen or to keep it from happening. the unfortunate thing is that the money comes down from the feds and it goes to a state bureaucracy. and those bureaucracies understand then that they have wide leverage in the wide girth that they can use this money end. so it gives them wiggle room to play with it. neil: but it also gives them wiggle room to play into this game in order to satisfy others. but you have to do what he wants or you're not going to get the money and that's how it's been characterized. is that a fair characterization? was your experience that a lot of governors to play god with the money that they suddenly have bequeathed to them? >> they absolutely do. i can tell you dozens of different stories where someone would come to me and say that we would like to spend the money for this or that. we think we have a
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rationalization for everything we can make it fit under this or that. and would you approve doing that are not doing that. but more often than not they wouldn't come to me because the lotto has already been won. the money is already there. it's just a matter of what do they spend it on in congress again gives the writing of the rules over to the agency and gives them a wide path so the highway to spend the money on becomes very wide and the for where the different things you can withhold it from become very wide also. it's just horrible system and too big to manage in most instances. one of amazing and very revealing. so chris christie, no different than the old politicians he trashes? the former gubernatorial candidate says that if this is a good reason for the republican party to end its fixation with the new jersey governor, nothing
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will. but it's funny. whether you agree to disagree with the governor and republican circles, they go overtime trying to keep them propped up. >> this man has a persona problem. he lives to live in a public image that he wants everyone to love him and to all this concern and sensitivity and we see him as abe bully playing games with people's money. that's 250 that could've been rebuilt. that is not the best application money. >> if you could show them that it will pay for itself tenfold. and you say the best that's political rhetoric? >> political rhetoric and political nonsense. >> so it's a very bravado in your face, if you will.
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mackey took on the establishment and this is the weight comes back. he has become radioactive. nobody is going to get near him now. >> as much as they dislike him they dislike the mainstream media more than they feel that this is the mainstream media against them? >> i don't think it rallies him necessarily but with a lot more credibility in a guy like marco rubio are one of those guys with the candidate and i think that the republican establishment is becoming irrelevant really quickly. in the next couple of years we will see them move faster towards irrelevancy. >> so you think this is finished? >> i think that he's done. >> so when the mainstreamers are saying that he is the only one who could beat hillary clinton, what you say? >> you don't know whether the chief of staff come out and out him at some point.
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>> what is the difference between his and yours? >> i'm very transparent. and this time the scenes he's a bully and he's pushing around. >> yes, but he's threatening these mayors quietly and that is the charge. if you have a subordinate working for you you're responsible for him and everything that they do the on-site police he is guilty for providing the tone? >> deal out of it. he should've known better but if you're going to do national politics. you better have someone covering your back all the time. and i don't think he was ready for this in the last couple of weeks where everyone was trying
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to get him out as a possible candidate. neil: so the real conservatives have no place in this? what you think about? >> i don't think he has a place in new york state. neil: are you going to run? >> we are considering all of our options and i can deal with donald trump. she wanted donald is on, will you? >> it's very likely that mike longwell give me the conservative nominee to run. >> and you're off and running. okay. in the meantime, what is the difference between the government going after millions of dollars in fines and now going after a much wider swath of corporate america for hundreds of millions of dollars? nothing at all. and a look at a not so fair or remotely balanced attack on business coming up next. across america people are taking charge
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the justice department reportedly targeting all sorts of company for all sorts of situations, including some $4 million over the actions of one of its subsidiaries. white-collar defense attorney robert will. so what is motivating this? is it easier this way? >> it is definitely easier. there are jail sentences involved, it often doesn't get paid. if you have a target that you know has the means, money right now is out of control. salaries of athletes, giving up the money that banks ay, in the billions to settle cases. you're getting 100 cents on the dollar. neil: and in the then the other people don't have to worry about going to the slammer. >> yes ,-com,-com ma they say that they pay a fine instead.
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gandhi used soon they used to say that this is not fair. >> they ride write out the chat because it solves the problem. and the money is out of control. they write checks like it's no money. and i say if the cost of doing business. and now the government targets are hedge funds in the hedge fund gets indicted. so they pay hundreds of millions of dollars. the government get to the result, they get dead. he gets into that big piggy bank. >> a lot of average americans say that if heads were supposed to roll because of this or whatever, in the eyes of the holder and all that they see is a lot of bank checks rolling, they are going to see that the system is unfair. >> the heads will always rule
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that you can't send an institution to jail. they are just too large. >> so a lot of people have their head on a stick. so the head of the institution -- we have seen very little of that. but what you make of that? >> it's very difficult to accomplish great a lot of resources in one place. not a lot of return. much better business for the government and its finances future prosecutions and it looks good for the government across the board. and i will give you the other side as well. people say that i want to do that and why does the institution -- they are allowed to buy their way out out of their problems. but the individuals don't always have that option. neil: are talking about middle to higher ceos? >> institutional. always the best situations. and they know that they can get that money.
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and it's a guaranteed result. life goes on. at the cost of doing business. neil: but do you worry that this becomes a very pricey line item in business? i don't know if everyone will be like jpmorgan chase. but it sets a high bar because the government is going to think well, we can keep pushing it. >> i think every situation gets measured. there's a fair amount of negotiations involved. and everyone looks at what is the best result to end it. and is there a back-and-forth back and forth and we pay what we can. the numbers sound really high but on the other side of the coin the institution can be staying it's great for us and we get it out of the way and we can afford it.
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neil: in the meantime, coming to a staples near you. so good for you. and the unionized postal worker says it's not good for them. [ me announcer ] this is the story of the dusty basement at 06 35th street the old dining table at 25th and hoffman. ...and the little room above the strip mall f roble avenue. ♪ this magic momt iis the story of where every great idea begins. and of those o believed they had the power do more.
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dell isonored to be part of some of the world'great stories. that began much the same w ours did. in a little dorm room -- 2713. ♪ this magic moment ♪
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the one time for our class. we are mailing it in because this has to do with folks who deliver our mail. the post office is experiencing staples stories which for customers amounts to one stop packaging and shipping store is not good for customers but good for staples. to hear some of them tell us that a lot of them say it is a union jobs killer. but seeing how the post office is losing a lot of money now.
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doesn't this possibly stay about not losing as much money now? ebony williams said it won't do it look as good. so you're not a precipice. why is that? >> i'm not that impressed because i don't think it's the most direct to get the solution. those that are traditionally underprivileged don't have that access. they show that this actually doesn't accomplish that goal and in the same areas they don't have access to the postal service were these centers either. so it's really not serving matt and. >> leveraging and improving that prospect. >> that's exactly right. and the reason is the 2006 close of 10 postal accountability act.
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they have to refund the benefit program and as such it is basically have a drink so much money that makes the state of california look like a well-run machine. and unless we repeal this postal accountability yet we cannot hire more postal workers because it's just too expensive and bad for america. soon is between a rock and a soon the postal service is between a rock and a hard place here. i think that they are good folks. but i guess the feeling seems to be that they don't recognize or see the writing on the water they are going out of business and fasten the have to make this work. and i've seen many union work by shooting itself in about not seeing that reality. are you afraid that the postal workers are guilty of doing the same? >> i think that they are trying to get to a compromise. >> however they are saying that they don't mind staples having
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this one-stop shop set up that they just want their employees to use this and i don't think that is a bad request. in these jobs are beyond just high-paying. they are out of reality. >> i think some of the stuff that they are talking about could seem out of reach. some of these other requirements , but i think the average per hour is not beyond the reach. there other ways to prevent raising minimum wage. >> that is exactly the point. until you fix the steel with a tour diary benefit package it is completely unaffordable in the american taxpayer will have to pay pay for a bailout. what kills me me about the postal units unit we basically
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are saying that this is not funded by taxpayer dollars. but it is. they get money frommcongress and every time that they come up short they borrow from the treasury and we know exactly where this is headed in the post office is honestly one of the worst run organizations mandated by congress. >> they have to do things like deliver mail everywhere. but you are right, it is a mess right now. and hopefully they will resolve it. the way it is going. thank you guys very much. is this any way for a super bowl player to act? >> don't you open your mouth about this. i will spell it out for you qui. love. it's the no-games, no-messing-'round, -earning-limit-having, do-i-look-like-i'm-joking, turbo-boosting, heavyweight-champion- of-the-world
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>> i'm the best corner in the game. like crabtree, that is the result you are going to get, don't you ever talk about me.
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>> who was talking about me. >> crabtree, don't you o op your mouth, i'll pehl i spell it foru real quick, llexpect. llb . >> he was directing his rant at san francisco 49er crabtree, but was that the moment to do it? what message does that send to kids and advertisers who might hold sherman up to some regard. to sportscaster jim gray, larry winger. jim, you know this far better than i am was there a strategy here? sometimes the loudest guy gets the most attention. >> he is a stanford graduate, but i don't think there was any strategy, there was pure emotion, we've had people snap
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for, this was wrong timing, but i don't believe there was any strategy. neil: that does give me some relief. larry, my issue is, people gravitate to to tankan rersal -- controversial personalities. but, what do you make of it? >> well i think you said, at the beginning, we set them up with this much screen time, maybe some sort of an example. we let our kids see this, it does send the wrong message, let people know you never build yourself up by tearing someone else down, trash talk is a dangerous thing, it sends a dangerous message. it is not an admirable quality. neil: controversy also sells. >> he has been controversial for
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some time, now led the league in interceptions last couple of years, so he is trying to get himself attention, he has been outspoken, tanneed he has tauntd tom brady before, he is pointing at himself saying, look at me, look at me, he grew up in compton, a rough up bringing but went to school in stanford, his father has been working a working man, a blu blue collar n who picked up trash to put his kid through college. a complicated existence, but here he was way off, i think he has been way off before, it was his happiest moment of his life, he made a great play, a great moment for the team. neil: do you know, whether the crabtree was singles him out or rippingghim a new one prior or what? >> this goes on all of the time,
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for there to be a perceived slight of some sort. this goes on back and forth on the feel, to do this at this time, i have had mike tyson snap, and steve francis, dennis rodman, kobe bryant, they have been honest, a couple times tyson snapped. but i don't see why he wanted to do this now at this moment. neil: maybe to seize the moment, larry, you don't want to get me started on me and hannity. i do wonder, to what end. i think to. you know someone might fly off the handle. i like to assign motives that are not there. or that i suspect could be there, now everyone is talking about him. and even if he is well-known, lot more people know him now to what end? >> to what end is the question. but we see this going on with
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politicians, with businessmen. not just in sports. people don't have to say look at me, i'm the best. let your results speak for yourself. that is the message we need it teach people, new people in business, and our kids, and sending that message that if you are good, every single time, that is what is more important. you don't have to go out and brag. if it is fact, you don't have ta brag, just be good at what you do, much more important than screaming and yelling. neil: thank you so much. jimmy almost forgot about tyson, thank you very much. >> you know it is martin luther king day, go ahead and buy that washer and dryer, martin would have wanted it that way. really? i think king said i have a dream, note, hav not, have a got a deal.
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>> come out this week, mlk weekend, super sale. >> holiday sale and clear answer, starting right now, big savings. >> martin luther king day sale on now. neil: martin luther king day, did you take advantage of the sales and buy that tv, here is all proof you need that preacher is ensconced in american legend lore, he gets a federal holiday in his honor, but just as tacky sales as lincoln and washington in his name. is that really a good thing, seeing asd kin dr. king was murd not 5 decades ago is it too so soon? we ask radio host katrina. >> what a missed opportunity we
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have in america, we listen about martin luther king's american dream, wher where is that dreame look at all of the liberal policies put in place, specifically by this dodge with administration with highest unemployment among black youth, we should take this opportunity to reintroduce that dream today. neil: i take it you are not a fan of those in the retail business, trying to chin up sale or jobs their way. >> you know, it is a free market capitalistic society, i applaud them, at the same time -- >> i don't, they are free to do it we're all free to be asses. that does not mean we should exercise the right. i am not saying that the big holidays go they turn into
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sales. i just think that statute of limitations should be extended somewhat. we were doing this after the federal holiday was established for the reverend in the 80s, i just think so soon, we don't pounce on selling microwaves after the fact. >> you are right. there needs to be time in there but now, we should look at the economy with first black president. we have people on food stamps at highest numbers ever. this is incentive to include the sales when we should be wanting to create more wage earners. neil: king as it of overtime, we increased number of federal holidays is what happen people rarely reflect on the meaning of the holiday, they just use it as a chance to have fun, nothing
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wrong with having fun on the day off, but when we forget the meaning of why we have the day off, this goes to advertisers as well, they miss something. >> you are right, this is a huge missed opportunity for americans, today in my state. i am disappointed that we don't have for example the republican party of texas pushing out heavy promotions and mlk 's dream, because black americans founded the republican party of texas, we should be celebrating that, not microwaves. neil: very well put katrina. anyway, drunk as a skunk. now she had it with a cruise line's ship. ned, usaa auto insu is often handed down from generation generation.
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neil: you ever drink too much on a cruise? this woman had so much she fell over board, they fished her out of the sea, only to find her filing a lawsuit once she was dry. she said the ship bartender kept pushing her drinks, is that really the bar ten bartender's r everything is herrer her fault r drinking. meg, you put this on the woman? >> there is a thing called personal responsibility. we're all going on vacation, all you can eat, or drink type. most of us can handle what he do, we don't accidentally slip off the ground as complaint said and fall off the balcony, we don't need that much regulation. on the balcony, there should be
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a warning, that says if you are drunk and stupid don't come over here 92 tha. neil: that makes sense. >> and also a corporate responsibility, the cruise ship is a billion dollar stray, as it the liquor industry, these bartenders are trained on how to spot and identify individuals who are over consuming, they have to protect them from themselves and protect us, society from these people who cause accidents. >> it is vacation time, i don't want a regulate or saying, that -- you had your 2.5 drinks in the last 3 hours, stop. some of us need to be responsible. >> it is too late, regulators have done it, these are statutes on the books, laws of clear. you cannot -- the law is clear. neil: you are saying. >> no. neil: the person is seemingly getting drunk fast, you as a
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bartender have a obligation to say. >> you cannot serve an intoxicated person that is the law. neil: your logic, if i am hanging out for the food buffet, i can get in trouble. >> we're talking about the law, not an emotional reacted, the law. neil: i do want toi carnival krueseiing that sarah's cranes are unsupported by evidence in the case, the claim she was over certained alcohol is contradicted by evidence, but you could also say she clearly over drank, it was seen by the person giving her the drinks, does the bar tender or cruise line have any responsibility to the passengers as far as keeping
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them safe. >> they have a responsibility to keep us all safe. but there is a line, maritime law is not consistent on the laws, they are not clear, they sometimes let the states decide. i'm trying to say, you don't want have too much regulation, then we're all too afraid. if you look at this particular complaint, it said she slipped off the ground, and fell off the balcony, some witnesses say she jumped. neil: i cannot tell from this image. maybe you can. i can'ty i see if she is jumpinr tripping. keith, what if she jumped, thinking she was super woman. either way, a condition brought on by drinking too much. >> that goes back to the bartender, the jury on a verdict she will have an opportunity to hole her accountable, something called cull.
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>> the crew saved her life afterwards, that looks like a goner. >> she ruined a lot of vacations as well, everyone else did not get to their destination, she has to have some personal responsibility many people drink, most of us down get so drunk we fall off balconies. neil: you know what i like about you, meg, you make the argument, when a inconvenience, we have to stop and rescue this woman. >> it took them 90 minutes to decide to go back and rescue her. neil: thank you both very much. miss the netflix boat? what if i told you other streams ships have come in. on,
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or afib. he has the most common kind. ...it's not caused by a heart valve probm. dad, it says your afib puts you at 5 times greater risk of a stroke. that's why i take my warfarin every day. but it looks like maybe we should asyour doctor about pradaxa. in a clinical trial, adaxa® (dabigatran etexilate mesylate)... ...was pron superior to warfarin at reducing the sk of stroke. and unlike wfarin, with no regular blood tests or dietary restrictis. hey thanks for calling myoctor. sure. pradaxa is not for people with artificial heart valves. don't stop taking pradaxa without talking to your doctor. stopping increases ur risk of stroke. ask your doctor if you need to stop pradaxa before surgery or a medical or dental procedure. pradaxa can cause serious, sometimes fatal, bleeding. don't take pradaxa if you have abnormal bleeding or have had a heart valve replaced. seek immediate medical care for unexpected signs of bleeding, like unusual bruising. pradaxa may increase your bleeding risk if you're 75 or older, have a bleeding condition or stomach ulcer, take aspirin, nsaids, or blo thinners...
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neil: welcome back, remember when they called it net-fix, a bungle pricing plan to almost cost the streaming service a ceo after the stock tanked. then the turn around, and house of cards, then accolades, then buyers after buyers, then cult status, now netflix from losing its eas roost to rules its roos. we now see if there are other less pricing house of cards, we ask jonathan hoenig. >> the time to buy the stock was when people thought the business model was doomed, it was potentially going out of
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business. this manager's credit they have turned it around. but i think it is too pricey, up 240% in the last year, and more important, it is a cul cult now, trading 240 times earnings. like stocks like cisco and microsoft make more money now than they did, netflix will succeed but the valuation will contract. neil: michael? do you agree? >> not totally, i have a lot of upside ahead for th netflix, thy introduced a new 4 k initiative. millemill -- are growing up. other thing, they will report their earnings this wednesday, i am looking for strong earnings, they grew their earnings 300% last quarter.
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this company, creates amazing amount of the cash $2 billion in cash flow last year, they own that market. neil: jonathan, assuming, as you say this, has had a great run, and maybe a little risk to try to keep running with it, what are you liking in this category? >> i think content creator, and to michael point netflix has exceeded in creating they are not content creators, a lot of old school creators like disney, and seeks, and ici, and interact test space are better buys and less pricey than netflix right now. neil: mike ought all sid michaex in. >> this is still my favorite, the ones he mentioned problem is what if they have a couple losers in the row, then they get slammed. neil: and streaming, is china
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slowing, new numbers out show it is all relative. china gdp, is a boone compared to ours. but concern of beijing bum bumbling, a lot of other markets including our own may be stumbling. >> china stock market is a 6 month low, number one losers are the chinese people, they succeeded in growing gdp and growing their economy because they made some steps over the last few generations toward freeing the markets, and toward capitalism. in 60s, the life expectancy was 40, it is up to 70 now, they are moving in the other direction, i think that could hurt us here as well, who is number one owner of u.s. debt, that is china. that was not the case a decade ago, but it is this time. you will see interest rates go up because of that. neil: what do you think if china
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hiccups? the whole world gets sick? >> i think a lot has been priced into the market. 7.7% growth, we would love that here in u.s. what is going on, there is also a massive shift to a consumer-driven economy, there will be a slow don't when they transition from a government run, you uninfrastructure investment government led to an assumer society. also, massive shift, there is growth ahead of us for e-commerce, and mobile, the auto market over there is on fire, october it was up 20% year-over-year. there are a lot of growth factors still in china. neil: you mention these numbers, i always wonder, if you can believe them, some seem so incredible. i just don't believe them. i know that chinese history about lying about a lot of stuff, including whether they are violating copy right patents
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and the rest. i question everything they tell us, do you? >> i do question it. but even when i discounts for that, i find a lot of upside in companies out there. bit auto holdings is a great play. and you know, you can drill down, look at those high operation margins, these are well-run companies. neil: all right. >> certainly freer the stock, the free are the industry, the better do the banks will collapse. neil: that music means not that china is going to sleep. what are these guys watching tomorrow? >> inflation, cattle prices all time high, movie ticket prices all-time high, stocks like ddb will take off next. neil: michael?
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>> i want to see what is coming out thursday. we have a lot of reports, this is earnings week, this might be fantastic buying opportunities, if some companies miss slightly, you might see a dip. it may be a good time to enter. neil: a lot of people use run-up last year, as an excuse to at least sort of just tailback a little bit this year. they will do any excuse to do so. michael? >> i do this time of year, since 2009, we have seen first quarter of january things can be messy, it will be choppy trade for next couple of weeks as we digest the market leaders and earnings, and government stats, but i am still expecting a strong 2014, not as strong as 2013. neil: jonathan. >> i think that pendulum has swung from fear in 2009 and
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betwee2009 betweenthen, to gree. i think you have to pick specific ideas focus on those. >> thank you very much. that is it see you tomorrow. kennedy: today is mlk day, we take stock in our dreams, feel our feelings, and president said some people don't like him because he is black. that sounds like backyard thinking that -- backward thinks that got us stuck years ago. we have too many laws and imprisoned ourselves from as thafalsesense of security. i think it turned us to a bunch of overly sensitive cream puffs, everyone has a cause, no one is immune. let's get drunk on ideas and discussions, this is the

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