tv Varney Company FOX Business May 5, 2014 11:00am-1:01pm EDT
it is time for "varney & company." stuart, take it away. stuart: good morning, everyone. we have the judge. a presidential poverty have it. we shall do more. kind of an odd calculation. fallout from foreign policy or flat out. where is the growth? order online in the morning. get it in the afternoon. google and amazon try it out in los angeles. 47,000,004 hamptons beach house. all of this on cinco de mayo. we will debate that.
"varney & company" is about to begin. ♪ stuart: attorney general eric holder working closely with financial regulators to bring criminal charges against large financial institutions. there is no such thing as too big to jail. all rise, judge andrew napolitano is here. what is the legality of it? >> right. what the political clamor is for is to see bankers and orange jumpsuits dressed the way that we are perp walked into a courthouse.
the banks did something wrong. the banks caused the mess in 2008. why aren't they punished? why is it that big banks can pay these huge fines to the federal government and then not get anybody indicted. >> that is a political perception. stuart: goldman paid a half billion dollars as a fine. >> it is unethical and you could lose your license. if you do not cough up this, we will prosecute you criminally. if you are sending $500 million to the federal treasury, they
will probably leave you alone. somebody else may have done the same thing. having said that, there was something attorney holder said that i thought was extremely thoughtful. i am not unmindful that the damage an indictment can do to the bank. it is evidence of nothing. the very filing of the indictment could trim your behavior by federal regulators. filed an indictment. shot arthur anderson down. 80,000 people lost their jobs. the conviction was overturned.
>> why did eric holder say that? i am not unmindful of the damage that can be done. >> i think to justify. normally, the justice department is heavy-handed. they will charge white-collar criminal defendant with more than they think they can actually prove so that they have a bargaining position. for him to say here is why we are holding back, it damages the system. charles: they say that wall street is guilty. the president is out right every
time. >> the large story in yesterday's sunday "new york times." the story of a banker. stuart: i have to get to these. you cannot take someone to jail and a financial situation unless they are convicted of fraud. this security is worth x number of dollars and it is not. this is totally political. attorney general says this six months before the election. people want to see guys in handcuffs go to prison.
>> it is unethical. it is criminal in and of itself, but it is not. there is no recourse. >> i thought they thought that maybe it would be enough. it is a great organ. it is the government's money. stuart: thank you so much for jumping on this. good stuff. i am mindful of the fact that when we opened up this morning we were down 120 points on the dow. what is this? is it ukraine all over again or is it a fresh look?
charles, i say it is the economy that created that 100-point drop. charles: i think it is a combination of things. 40% out of china. the journal has a great piece of china. people just do not really know. stuart: let's go to nicole. what is the stock doing? >> moving around with those financials. they came out with their quarterly numbers. they saw revenue drop. that was not good news.
it dropped 9%. the other thing, do not forget they sweetened that. it does not meet their criteria. if the merger goes through, it would be the largest acquisition. >> it will not be a foreign business for very long. look at target. stepping down immediately. charles, this is a case of a ceo being gone. charles: i would not buy it at 60.
the abruptness of his departure is what is scaring the heck out of people today. what will come out now. he really has not done a great job. it is really shocking. i think this is about time. he has been with the company since 1979. his grandfather started a furniture business. stuart: that is speculation. charles, thank you. order it today. get it today. google and amazon launched same-day delivery. google will accept orders until
4:00 p.m. now, on amazon, you can order as late as 12 noon and get it by 9:00 p.m. they want seamless online shopping. why are you laughing? how much of her money she was able to reclaim. listen to this. >> was it $35,000? >> yes. how much do you have of it now? >> we have it all back with $9 interest.
stuart: $9 interest. how are they supposed to function? >> far more than $9. greater than what was seized by the irs. if i stole from you and then said okay, it was yours after all, i am giving it back to you, that would not remove you of your abilities, nor would it relieve you of your opportunity to sue me for the things you cannot do. stuart: sue the irs. >> unless i was the irs. the same disabilities as anyone else. >> the government has to be
♪ ♪ [ tires screech ] chewley's finds itself in a sticky situation today after recalling its new gum. [ male announcer ] stick it to the market before you get stuck. get the most extensive charting wherever you are with the mobile trader app from td ameritrade. visit truecar.comoney,com,t and never overpay.yer's remorse. a good deal or not. "okay, this is the price,"sman comes and you're like.ells you, they're the days to take care of business.. when possibilities become reality.
with centurylink as your trusted partner, our visionary cloud infrastructure and global broadband network free you to focus on what matters. with custom communications solutions and responsive, dedicated support, we constantly evolve to meet your needs. every day of the week. centurylink® your link to what's next.
president obama. renewing efforts to fight climate change. he will use his executive powers to cut initiatives from power plants. he is also tightening fuel efficiency plans. point number one, does the president have bigger fish to fry? >> of course he does. we will have no oil left to start the fire in the first place. stuart: how did you get to that point? >> you can tell that as the democrats realize they may lose the senate, they are getting a little aggressive. there is nothing worse than an aggressive democrat. stuart: why would they push climate change?
it is not on the list of anyone's priorities? >> it is on the list of priorities. do you really think that he cares about a tree or that he cares about oil? no. he cares about his donors. this is one item that he has yet to push. he will introduce it now. if you look at his past track record, solyndra failed. it was a failure. stuart: the president, when he was on the west coast, they showed him some satellite pictures.
86% lower than it was at some point in the recent past. the washington post says the president is convinced. we have a climate change problem. i am going to do something about it. it is genuine. he has seen the light on climate. and you say? >> this is something -- this is the last to try to pass something through congress. he will try one last chance. he knows he has no chance. stuart: you think he will get $100 million. >> he wants it bad. stuart: does the tea party take a position on global warming? >> we love our country. we love the environment that we live in. we value jobs. we value reality.
we are having folks not able to see their family that feed their family or by health insurance. stuart: great segue. stay there. i have another one for you. look at this house, please. and 18-acre beachfront property in the hamptons. $147 million. i will repeat that. that thing right there, $147 million. the rich keep on getting richer. >> we believe in people making money. we just not believes and cheating the system. when you look at the majority of
people, it is most of the democrats. even at the ritz carlton in chicago. a hush-hush meeting. joining this club, a $30,000 initiation fee. $25,000 a month. you have to give $300,000 to the organizations they like. charles: you say the rich get richer. i hear this from liberals all the time. one of the richest people i know, it he said that the first million was the hardest. i celebrate people making this money. they all have coattails and people benefit. there is a chain of events and it does ripple throughout the
economy. >> we are all for that as well. that person just happens to be a major political donor. charles: what they have done with coal is a shame. the company's headquarters are 85% of its business outside. this year alone, they started building a cold pack -- eight cool factory power plant. all of these jobs that the president is putting out of business, it is beyond politics. it is a shame. stuart: we covered a lot of turf. >> we did.
stuart: are you going to come back? later this hour, cheryl casone is back with us. she will give us some details on that home. she says, rosenstein overpays. [laughter] reality tv star jon tapper, friend of "varney & company," it turns out you the viewer also fans of him. your response from facebook and twitter to this. >> i know how tough the food industry is. you are up against serious competition. ♪ stick with innovation.
from philips sonicare and save now. philips sonicare (agent) i'll walk you guys through every step. there are a lot of buyers for a house like yours. (husband) that's good to know. could mean less waiting for things like security backups and file downloads you'd take that test, right? well, what are you waiting for? you could literally be done with the test by now. now you could have done it twice. this is awkward. check your speed. see how fast your internet can be. switch now and add voice and tv for $34.90. comcast business built for business.
>> we have the highest ratings in series history last sunday. stuart: do you know why? because you were on the show right before that, highest rated show. you are on the show right before the highest rated show. i give you priceless publicity. >> you have been incredibly gracious to me. stuart: how many people say that? it was a lot of fun having our rescue guy, john tapper on our show friday.
it is a daunting task that he does very well. gregory shared his personal connection with the bar business. my mother owned and operated a bar in the downtown campus area for years. samuel adds, would he consider a presidency rescue? i would enjoy the screaming. very funny. i think he will be hands full already. show, it's about investing in restaurants. thank you, jon taffer. the lead underwriters for the candy crush ipo now say buy the stock. these are the people who brought the company to market, put them out in the public first time. the stock is down from the ipo price, but today go out today and say buy it. people did, it's up 6%. ab upbeat -- an upbeat forecast from orbitz, but the company
posted a loss, 4% lower on orbitz. well, today is cinco de mayo celebrating mexico's independence, and our production meeting this morning there was a divide as to why we celebrate it here. is it an excuse to drink? or an excuse to make money? here are your thoughts coming in. anne marie says: has the u.s. ever needed an excuse to drink? good question. i shall not answer it. and steele chimes in: who needs cinco de mayo to drink? seeing obamacare's tragic enough to find the bottle. you just had to do it. i will bring you my take on cinco de mayo in the next hour. i think it is all-american. this is all about the november elections. we will explain it next. ♪
over 100 million consumers had their personal information stolen in recent retail store and online security breaches. you think simply checking last month's credit score can stop identity thieves now? that alone just isn't enough. but lifelock offers the most comprehensive identity theft protection available. as soon as the patented lifelock identity alert system detects a threat, you'll be notified by text, phone or email. ♪ your response helps stop thieves before they do damage to your identity... helping to keep you safe... with three powerful layers of protection. detecting threats to your finances, credit, and good name 24/7. alerting you to potential danger. and if anything is found, your resolution expert will help restore your identity. so you can get back to enjoying your life. ♪ lifelock watches out for you in ways banks and credit card companies alone just can't. plus, it's backed by a $1 million service guarantee. if your identity is ever compromised,
lifelock will spend up to $1 million on experts to help restore it. try lifelock membership risk free for 60 days with promo code easy. that's 2 months of proactive protection to help keep your identity safe, risk free. act now and get this multi-device charger. charge all your devices at once to save you time... a $30 value, free! call the number on your screen or go to lifelock.com/easy. try the most comprehensive identity theft protection available risk free for 60 days plus get a $30 multi-device charger, free. enrollment takes just minutes. your protection starts immediately. call the number on your screen or go to lifelock.com/easy. ♪
holder says no firm is too big to jail. the big banks don't seem to care about that, all of them are ever so slightly lower. morgan stanley, though, is down the -- 2%. make us some money, charles. >> middleby. you forget so easy, we did it last year twice. of well, here's the thing, we got in at 230, the stock took 300, we took profits and now we're back in. they make all the equipment for restaurants. u.s. presence is huge, international presence is even bigger, growing at 12%. gross margins are expanding, the focus right now, brazil and india -- stuart: hold on a second. look at that chart. >> yes. stuart: go back to that last chart. see that spike there? that's when you told your people to get out. now it comes down, and you're saying get back in. >> this is the kind of stock i would keep in a 401(k) forever, but you just can't, it's too much. you have 20, 30% in that time frame, you take it off and buy
back. stuart: they manufacture kitchen equipment? >> ovens, rangings. here's the part you remember last time, they took over viking. stuart: oh, yeah! >> the rich people's stock. stuart: i've got viking stock. [laughter] >> they also own viking now. the guy who bought the $148 million house, he may buy a few of these things. stuart: viking stoves. it's a big one. >> i hate to digress so much, but i was at a barbecue thing, a new place, i mean, the stuff that they have just four grand just for high-end stuff. and, of course, the outdoor stuff is outrageous. stuart: rich people buying it. >> there are. oh, man, stuart just left. [laughter] no, he did. stuart: all right. the senate is expected to bring to a vote, a vote actually, they're going to bring it up, on the keystone pipeline. it's going to come to the floor of the senate this week. democrat senator joe manchin says the votes are there to pass it. if passed, this bill would compel the president to build
the pipeline. why is senate majority leader harry reid doing this? he's a harsh critic of building the pipeline, so why is he pushing for a vote that would mandate that you build it? congresswoman from tennessee, marsha blackburn, visiting us in new york today, will explain. i can't explain this. i don't know what's going on. why are you doing? >> yeah. i think he's under pressure from his members to hold this vote, and you've got some, you've got bell itch and landrieu -- begich and landrieu, these are issues they're going to have to deal with. i think that harry reid is deciding that the public pressure that he likes being majority leader, not minority leader, and ari reid -- harry reid knows in about 180 days or so, he's not going to be the majority leader. [laughter] stuart: you say he's putting forward a bill which would compel the president to build and authorize that pipeline, and he's doing this to help out
those democrats in the senate who are under a are the of pressure -- who are under a lot of pressure like louisiana, for example, and alaska where they really want that pipeline, he's doing it to help them. >> that's exactly right. stuart: doesn't he know that even if they pass the bill, they're still not going to build this pipeline? >> well, and what they're trying to do is say we've done everything that we can, and this is just the president being obstinate, because the president know that the -- the american people know that the president has his own ways of doing things. and they're trying to get the pressure off of themselves. so they're politicizing the issue. the point is the american people -- no, keystone is now a household word. and people are tired of paying $4 a gallon at the pump. and you're talking about mom in the minivan that fills up that car at the pump, and then she turns around and she hears people say, well, she hears washington say there's no inflation. and then she finds out that
they're not considering housing costs and fuel costs and food costs, and she's going what are these people talking about? they've lost touch with reality. so this is a way for manchin and landrieu and begich and those guys to say, no, we're in touch with reality. we know you're feeling the pressure at the pump, and we're going to do something about. stuart: we're told that the president's going the pick up his pen and pick up the phone, and he's going to push for climate change legislation, tighter fuel efficiency on cars, for example, just one of the items. it occurs to me that that is not going to be politically popular, but he's doing it anyway. it's like delaying the pipeline. not politically popular, but he's doing it anyway. >> right. stuart: what's with this pivot towards climate change legislation? >> well, what they're wanting to do is to control the economy and control industrial output and production. and the president couldn't get cap and trade through on a bipartisan basis there's opposition. he can't get it through congress, so what he's trying to
do now is use that pen and phone and do it anyway, because he doesn't need congress. and, stuart, we see this all the time. they try to go around us. stuart: but it's not a politically popular move. i mean, climate change is low down on the list of most voters' priorities. >> you're exactly right, but do you think they really care? and don't you think they realize they're about to lose the senate? and so they're trying to force through some of the issues -- stuart: you think that? >> yes, i do. stuart: you think they know they're going to lose the senate, so push it through now and be damned? >> the economy is not in great shape, you still are seeing wage stagnation, the labor force participation rate is not good. people say when i lose my job, it's the depression. when other people lose theirs, it's a recession. and there is that mentality. people are not happy. then you look at what is happening with obamacare, you look at what is happening with our energy costs, and there's a lot of discontent out there.
i think they see that this is something that they feel like they've got a narrow window, and they're just going to roll the dice and go for broke. stuart: that's an interesting interpretation. we've not had it on the show before. we appreciate it. >> absolutely. stuart: congresswoman marsha blackburn, appreciate it. welfare reform costs taxpayers $3.7 million in one state, that would be maine. after the break, we bring you the reporter who exposed the story. get flat, market, 16,500 on the dow. not much happening this morning, that could change. ♪ ♪ wondering what that is? that, my friends, is everything. and with the quicksilver card from capital one, you earn unlimited 1.5% cash back on everything you purchase. not just "everything at the hardware store." not "everything, until you hit your cash back limit."
♪ ♪ >> general motors reportedly plans to compensate victims linked to an ignition switch recall. a plaintiffs' attorney says gm's compensation expert kenneth feinberg intends to compensate all victims regardless of whether their accident occurred before or after the company's 2009 bankruptcy. general motors declined to comment while feinberg said any talk of compensation is very premature. shares at the moment, as you can see, are down just about 3%. and target is replacing its chief executive after 35 years with the company. cfo john mill began has been
named interim cfo. millions of customers suffered from a massive data breach over the holidays. target's shares right now, we'll bring them as soon as we can. and google and amazon are testing same-day delivery in los angeles, we'll tell you more about that coming up. we asked people a question, how much money do you think you'll need when you retire? then we gave each person a ribbon to show how many years that amount might last. i was trying to, like, pull it a little further. [ woman ] got me to 70 years old. i'm going have to rethink this thing. it's hard to imagin how much we'll need for a retirement that could last 3years or mor so maybe we need to approach things dferently, if we want to be ready for a longer retirement. ♪
>> pretty good stuff. it's good to live this los angeles these days. in the past few days we've heard both out with same-day delivery in l.a. and other parts of the country, both of them really targeting los angeles. so this is how it works at google. if you order your item by 4 p.m., you get it between 6 and 9:00 at night. that's pretty fast, and google has teamed up with many retailers -- walgreens, costco, target -- to get you your toothpaste and yourella, that's a popular item. what are the produces? right now at google it's free for the time being, but then it's probably going to be $5 per retailer. so if you have three different stores, that's $15. and for amazon prime members it's $6 and goes up if you're not, so it's expensive. and convenient. stuart: you just mentioned nutella. have you ever tried it? >> i love it. stuart: it's that chocolate type of sauce. >> or just eat it with a spoon
right out of the jar. that's what i do. stuart: okay. at your age, you can do anything you like. >> and then i go to the dentist. nicole, i'm sorry, that would be lauren. do apologize. >> it's okay. stuart: let's go to nicole for whole foods. why is it down? >> and i'm a fan also. and disc golf, very similar sort of products. whole foods is down almost 2% at 48.77. today you had oppenheimer cutting their price target down to $61 from $63, however, they still like the company. several of the analysts have been cutting their price targets while leaving their rating. for example, we saw sun trust doing that, they've gone down to $63 from $66, keeping their buy rating. we talked about recently walmart even getting into the organic type of food realm. and so whole foods, which really was an individual player for a long time in the organic food market, you're starting to see all of their competitors beefing up those sections, pause they've, obviously -- because they have, obviously, a keen
interest in that. stuart: i don't like buying organic food. i don't like paying a 20% premium, end of discussion. maine is cracking down on welfare fraud, one county jail in maine has confiscated more than 87 ebt cards that were in possession of people not authorized to to have them. ebt fraud in that one state now costs taxpayers around $3.7 million. one state, that's maine. gillian melcher writes for the national review and is a fellow for the franklin center. welcome to the program. >> thank you so much for having me. stuart: this is your story. what's with ebt fraud in maine? >> it's a pretty significant problem in maine. about 1% of transactions, they say, are fraudulent, costs taxpayers about $3.7 million a year. so it's to reconcile that and cut back on fraud, there's a new d. by the department of human services to put photo ids on these cards. but the usda is really giving them a lot of pushback.
stuart: so if you had a photo id, it has to be you that fronts up and uses this. >> and you need to make exceptions for people who are severely disabled, might have to have their relatives go out and get it, but the idea is to have a photo so people who aren't authorized to use it aren't. stuart: 1% of fraud and it's about an $80 billion a year program -- >> it's very expensive, yeah. stuart: i can't do the math off the top of my head, but it's billions and billions of dollars. >> exactly. it's a small percent of a big number is a big number. stuart: okay. why would the agriculture department object to cut down on fraud? >> you know, i think two reasons. the first is they're a little bit concerned with massachusetts which had kind of a rocky rollout with that. stuart: what's that mean? >> they ended up having some problems with getting the photo actually on the ebt card and putting it out in an efficient way, but, you know -- stuart: that's administrative incompetence. >> and maine's doing a pilot program to iron out the kinks before this goes statewide in
july. stuart: okay, what's the other association? >> i think they say it's going to hurt the disabled, but again, there's an exception here if you need a relative to go out, you've got that option. stuart: have they held the whole photo id process up? >> no, they're saying there's a risk of litigation or a risk that maine will lose funding. i think both of those things are potentially going to hurt the people who are legitimately receiving benefits. stuart: i want to go back to the beginning. we said that one county jail in maine had confiscated over 80 ebt cards. what happened? >> yeah. i think in a lot of instances there's one way there's a sex trafficking ring, alleged sex trafficking ring, and two people are still in jail waiting for their court date, and the ebt card mysteriously starts getting used while they're in jail. other cases where they've been swapped for drugs, an illicit barter system. so i think the state really wants to cut back, and that's why a photo id makes sense. stuart: they haven't got it through yet.
>> they're actually proceeding with the pilot program despite a lot of pushback from usda. it's something that the governor has the authority to do, but usda doesn't like it. stuart: great stuff. appreciate it. >> thank you. stuart: a $147 million home sells in the hamptons. the most expensive home in the country actually. cheryl casone says the buyer overpaid. really? that's it, right there, that's $147 million worth of beachfront property in the hamptons. the details are next. there are. ♪ ♪ stick with innovation.
stuart: are you curious about a stock? well, tweet us using hashtag ask payne. today charles has ch robinson worldwide because you asked about it. >> yeah. i always find it interesting, i call it heartland, it's a trucking play. but people interested in it, they just reported. the numbers were so/so, operating income was down, that's a little bit of a red flag, some of the margins are down, that's a red flag. but with transportation in this last quarter so muddy because weather did play something of a role, i would continue to hold the stock. i would not be a buyer of it. i'm in arkansas at best, it's
just a better operating business. but i would continue to hold. i think they'll start to get a little bit of pricing power in some of the parts, intermodal and long-term stuff. stuart: there your point of view if i thought there was going to be 3% growth for the rest of the year, i'd hold on to this. >> i like the rails a little bit more than the truckers, but whoever's in it, i would continue the hold it. stuart: now more on that most expensive home if the entire country. sold to allege fund manager barry rosenstein for a record $147 million. all right, cheryl, this this ist up your alley. >> absolutely, east hampton, a very, very prominent neighborhood in the hamptons, and barry rosenstein, excuse me, bought this. it's 18 acres, it's got a garden and a pond, it was part of an estate fight, if you will, never went out on the open market, brokers are furious, of course, in the hamptons because they didn't get any type of commission which would have been over $7 million. we don't have interior pictures,
but it's a beautiful piece of acreage. your neighbors are people like jerry seinfeld, and this breaks a record that we just had set nationally two weeks ago up in greenwich, connecticut. stuart: well, that tells me it's a bubble in ultra expensive property. it's spiking as we speak. would you go along with that? >> let me show you this map of the hamptons versus new york city. this is why i disagree with you on the this point, because the hamptons is the place to be if you're in new york city. and as the new york financial community begins to bring back all those bonuses, going from new york to the hamptons to spend this kind of money actually is, i think, within reasonable range. and i think you are going to see more sales between $100-$200 million in the hamptons. you've got the ultra, ultra rich, and then you've got the rest of us. and i put myself in that. stuart: i don't think we got a picture, but the top of 1 hyde park in london was sold for $255 million. it's not even a house, it's the
top penthouse at 1 is hyde park in london. that's not much of a picture, but that's it. >> we talked about this before, nice bridge -- pardon me, sir. yes, this is a nice bridge, and it's reportedly an eastern european buyer. i'm curious to see if that would be a russian buyer or -- but you think that london is a bubble. you can speak better to london. stuart: wait a second, the ten central boroughs of london, the property there is worth more than wales, scotland and northern ireland combined. >> but the money that's nowing in that's causing that bubble is saudi money, eastern european money, you may have some brazilian money, i don't know, i'm seeing that in miami right now. you don't think that money's going to continue? stuart: i want to know what happens if it's a bubble and it bursts, and i want to know what happens to locals who get squeezed out by this majority jump in property prices. >> i don't know that we're going to find out anytime soon. stuart: will you agree that it is a bubble?
>> i agree about london. i disagree that the hamptons is a bubble, i think we're going to see more record sales. stuart: hedging her bets one more time. [laughter] new at noon, here it comes, one of the president's harshest critics joins us to talk about why the president always needs to go on the attack always, even at the white house correspondents' dinner. plus, if a majority of teens don't want to get summer jobs, what does that mean for the country's future? one of our millennials weighs in. we are back in two minutes. peace of mind is important when you're running a successful business.
so we provide it services you can rely on. with centurylink as your trusted it partner, you'll experience reliable uptime for the network and services you depend on. multi-layered security solutions keep your information safe, and secure. and responsive dedicated support meets your needs, and eases your mind. centurylink. your link to what's next.
(agent) i'll walk you guys through every step. there are a lot of buyers for a house like yours. (husband) that's good to know. stuart: it is may the fifth. that would be cinco de mayo. why do so many americans celebrate someone else's big date? that is because we make money on it. i will bring you my take on that. why president obama is always on
matter how large or how profitable is above the law. stuart: no financial institution is too big to jail. doug burns is with us for a quick analysis of what eric holder just said. it looks like he wants bankers in handcuffs and that is a political motivation. too big to jail. the point is, a prosecutor can take into account the fact that thousands of people may lose their jobs.
>> he warned that you could do serious damage just by indicting and finding. on the other hand, he is saying i am standing up for the little guy. they will do the perp walk. >> maybe we should take into account that we would not shut down the bank and go a different route. now he turns around and saysto d i will go after him. stuart: that was a politicized statement and he should not do it. >> no. i agree with you. my late father was deputy attorney general.
the most important thing is to depoliticize. the reality is it is very hard to have a justice department. it creates a lot of problems. stuart: do you think that we will see a single banker indicted on criminal charges that could put him or her in prison? >> no. stuart: thank you for coming on board so quickly today. thank you, sir. appreciate it. google and amazon launching same-day delivery in los angeles and manhattan. here is the cofounder of polygon. what exactly are google and amazon doing in los angeles and manhattan? >> they will bring it to you. you have to bring a surcharge
for it. stuart: is this any product? >> it is a pretty wide range. even some basic groceries. things like that. stuart: this is very attractive to the at-home online buyer. >> it is especially good if you live in l.a. and you don't want to do with traffic or anything like that. stuart: this is positive for google and amazon. >> yes. more and more they are getting pushed out. >> here in manhattan, you can walk to the drugstore and manhattan and one block.
stuart: target. the stock is down. nicole: the stock is down nearly 3%. target has been under a microscope since the data breach. that is number one. that is one reason why they are out and you have the cfo coming in to fill in as the interim seat eight oh. the idea is that 35 year company veteran, it was time for him to step down from his role. >> we have come all the way
back. we are now up three. we were down 120. tell us what was with that initial seller. was it ukraine? >> it is about the growth prospects of the u.s. economy. ukraine really is not an issue. they are already diversifying away. it is really the flatlining gdp growth. >> the number of people who dropped out of the workforce. the reassessment of that.
>> it is a big deal. why did that happen. people basically put aside what they are actually looking for for work. >> the markets come all the way back. that implies we have come all the way back. i say the jury is out on whether or not we have significant growth for the rest of the year. the new trend in video games. that would be celebrity cameos. kevin spacey making an appearance in the latest call of duty. is this important? >> sure. absolutely.
a way for people to be drawn into video games. he looks like kevin spacey. you may not know what call of duty is, but you know what call of duty is with kevin spacey. >> do celebrities get money for that? >> generally, it is a flat fee. it is like a days worth of work. stuart: they have all taken part of video games. not apps on your tablet. >> it varies from game to game. kevin spacey, i am sure, made a nice chunk of change. you, i would say, probably a
couple million dollars. stuart: just to put your space on it? >> yes. if anyone will ask for a quote, it is kevin spacey. stuart: democrats never object to people in hollywood putting their faces on a game. what a great country. new laboratory studies done with mice may have shown us the keys to the fountain of youth. older mice got stronger, exercise longer and perform better mentally after they were injected with the blood of younger mice. we have a dock or, a friend of this program joining us now. i am 65. should i be getting my hopes up? >> i think you can keep your hopes up, absolutely. i do not get is ready for prime time. probably a good series.
stuart: does this mean anything for rejuvenation in the future? >> it is more of a step towards another step of development of major research and major discoveries in the treatment of major diseases. possibly, aging, the treatment of aging or the pre-that meant of aging. this is complex procedure. it is in the very early stage right now. stuart: new blood all the time? not just one mere transfusion? >> it is a surgical procedure. two mice are stitched together in and their blood is running from one to the other. over a period of several days, the blood vessels grow from one to the other. it is a complete blood exchange.
this is not new. there are a lot of studies out there using this technique. stuart: this may be used in preventing aging in the future. >> absolutely. you give a guy my age the fountain of youth, you have all my money. as simple as that. >> absolutely. there is a lot of money in that. the future is clear. i am convinced. i am optimistic. there are fact there is. we know that. we stopped the blood flow on one side of the liver in the other side of the liver will grow in three weeks. those are factors that exist in our own bodies.
if you take the factors from young individuals, in the future, those factors that help them grow, mature, become more smart, we will injected into you, you can live forever. >> not to the stage where we can name a publicly traded company that i could invested in aging. >> i think we have to watch this very closely. soon, there will be a commercialization of this product. stuart: we are out of time. we you come back and tell us more about this. a thing of the past. some millennial's thing that work is to need them. or is it that they are just
stuart: new report by the epa inspector general found that the epa paid out unauthorized bonuses to employees. nearly half a million dollars in bonuses. a principle at play here. the principle at stake here is the u.s. government, basically rules and regulations and taxes to keep them deficient. we have an immigration government. they will get their nonprofit status. this is from the treasury inspector general. he said that their government
wide policies do not exist for federal workers with conduct issues. they found that 2800 people have received a total of $2.8 million. some of them have disciplinary issues within the administration there is no government policy. >> you can shoot an arrow down a federal hallway and not shoot anybody on a given day. what are the standards for performance bonuses?
stuart: watch out everybody. liz is steamed about this. i am not joking. everybody is. government workers do this kind of thing and get bonuses for it. moving on. the number of teenagers with summer jobs down by roughly a third. that did not fit well with charles payne last night. >> they think mcdonald's is the need them. you are in 10th grade. you have a seventh grade reading level. mcdonald's is the need to you? that is interesting. stuart: let me give you a little context here. last year, 40%. here is charlie kirk.
he is with us. charlie, charles payne used that expression that they are entitled. summer jobs are beneath them and that some are lazy. what you make of that? >> i prefer the term inactive. when in reality, work is something that we as a country should appreciate. unfortunately, less and less are going towards this. >> you just said that this attitude was learned from their parents, that would be people like me. the baby boom generation.we did?
>> maybe through on parenting methods. the parent is the first one to take credit. we have seen an entire generation that is dan. why to get into work? it is harder than ever to get an internship. harder than ever to get a job. there is new regulations. i will not hire any more younger workers. the last 35 years, i think that has a policy for prescription towards it.
it's called truecar. and truecar users... save time and money. so when you're... ready to buy a car, make sure you... never overpay. visit truecar.com today. i quit smoking with chantix. before chantix, i tried to quit... probably about five times. it was different than the other times i tried to quit. along with support, chantix (varenicline) is proven to help people quit smoking. it's a non-nicotine pill. chantix reduced my urge to smoke. that helped me quit smoking. some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix. if you notice any of these, stop chantix and call your doctor right away.
tell your doctor about any history of mental health problems, which could get worse while taking chantix. don't take chantix if you've had a serious allergic or skin reaction to it. if you develop these, stop chantix and see your doctor right away as some can be life-threatening. tell your doctor if you have a history of heart or blood vessel problems, or if you develop new or worse symptoms. get medical help right away if you have symptoms of a heart attack or stroke. use caution when driving or operating machinery. common side effects include nausea, trouble sleeping and unusual dreams. my quit date was my son's birthday. and that was my gift for him and me. ask your doctor if chantix is right for you.
what is this place? where are we? this is where we bring together reliably fast internet and the best in entertainment. we call it the x1 entertainment operating system. it looks like the future! we must have encountered a temporal vortex. further analytics are necessary. beam us up. ♪ that's my phone. hey. [ female announcer ] the x1 entertainment operating system. only from xfinity. tv and internet together like never before. stuart: electronic arts and comcast close to streaming game deal. it would stream on comcast boxes. i look at game stop, this would be bad news for game stop because they are brick and mortar, they do not stream. one of barack obama's harshest critics who wrote the book "the
amateur" joins us to answer the question, why does the president always have to be on the attack even at the white house correspondents dinner? and how far does a million dollars get you in real estate? our two locations today, nashville philadelphia, cells, north. today is cinco de mayo celebrating mexico's victory over france. why is it so widely celebrated in america? here is my take. it is an excuse to throw a party. isn't it obvious? there was as usual an intense discussion in our production meeting this morning. this is not uncommon, we encourage real diversity of opinion. the question was asked what we celebrate somebody else's big day? july 4 doesn't get much attention south of the border, now does it? here is my answer.
this is indeed america. one thing we are good at, seizing opportunity to make money. free market guys like myself have proven this. promote cinco de mayo and you can sell a lot more. advertise and count the money. in fact, a lot of the ads i have seen are aimed at anybody who is anything but mexican. i saw a chinese restaurant in new york city with a special today. they say goes great with chicken. seriously, ain't that america? on cinco de mayo, drink up. one last observation. on saturday you may have seen a lot of young people walking around looking as if they had been splashed all over with paint. they look like a wry it of
color. that was america's version of an indian festival. as i walked past, somebody was selling the colors, the t-shirt, the drinks and the ice cream. we know how to grab somebody else's celebration and put it into a moneymaker. that is america. we've never sold a house before. (agent) i'll walk you guys through every step. there are a lot of buyers for a house like yours. (husband) that's good to know. for $175 dollars a month? so our business can be on at&t's network
yup. all five of you for $175. our clients need a lot of attention. there's unlimited talk and text. we're working deals all day. you get 10 gigabytes of data to share. what about expansion potential? add a line anytime for 15 bucks a month. low dues... great terms... let's close. new at&t mobile share value plans. our best value plans ever for business. one of the miller twins has a hearing problem.
and she's fed up with the daily hassle of her old hearing aid. so she got a lyric in her life and everything changed. which one? you'll never know because the lyric is in her ear. 100% invisible. you can't see it, and it's the only device that works round the clock with zero daily hassle. no batteries to change. no taking off and putting on everyday. in their report, a leading newspaper said "lyric appears to have overcome many of the problems associated with traditional hearing aids" sound good? call 1 800 350 3292 now for your risk free 30 day trial. this is the lyric. it's teeny... it's soft... lyric fits comfortably at the sweet spot right next to your ear drum for truly natural sound quality. in fact, 95% of lyric users prefer lyric sound quality to their old hearing aid. it sounds like the hearing that i remember hearing when i was young. and finally i was able to hear what people had to say and i hadn't realize i'd lost
that much in those years... so it was terrific. the quality and clarity of sound is unlike anything i've experienced. now the miller twin with lyric can hear and do most everything her sister does twenty-four seven. so which twin hears clearly now? both of us! call 1 800 350 3292 right now for your risk free 30 day trial and experience hearing with zero daily hassle for yourself. lyric is effortless. it gives me complete freedom. once they're placed in my ear, i never think about my hearing loss again. showering is not a problem. traveling is not a problem. they're hassle free, they're 24/7, there's no maintenance, there's nothing to do. there's just absolutely no reason not to try it. 100% invisible hearing is wonderful. finding one that works 24/7 with no daily hassle is just too good to pass up. so call now and ask about your risk free 30 day trial. get a lyric in your life.
stuart: just check this out for a second, then aflac banned for life from the hard rock casino in las vegas. allegedly he was counting cards. counting cards is not illegal, frowned upon by the casino operators who can check you out for any reason however he is still allowed to gamble at other tables and slots within the casino. we thought he would like to know about him and card counting. more on that tomorrow. drugs take a bite out of sales. a big stock, $29 per share. white house correspondents dinner took place over the weekend. instead of poking fun at himse himself, he did a little bit of that, president obama yet again seemed to be on the attack all the time. listen to this. president obama: of course we rolled out healthcare.gov, that
could have gone better. in 2008 my slogan was yes, we can. in 2013 my slogan was control, alt delete. stuart: sorry, i think we brought to the wrong soundbite. if you would have listened to the whole thing and if you see him on the campaign trail recently you will know this president really does go on the attack all the time. is my premise actually correct? i think he does attack. >> if you go back to his book in which he talks about the 2000 election in which he lost to bobby rush, he talks about looking at people, they have the idea he is a loser in mind.
i think he feels like a loser right now, he is bitter, -- stuart: that is interesting characteristic for a president, you think he is bitter? >> now ever since obamacare and the red line that was crossed that he didn't do anything about, even "the new york times" as well as fox news has been all over him. he has lost his luster. he is a guy that is so accustomed to being adored that he cannot take criticism. the criticism goes right to his got and he is a very poor loser. stuart: that implies will be no shift in the president's policy. his whole approach to government and governing, there will be no shift because if he really can't take criticism, if he does not want to look upon as a loser, he
will not change. is more committed than ever to being what he thinks he wants to be. >> his great plus was his confidence. i think he lost his confidence. ever since obamacare and syria, you see him almost crumbling in public. a guy who is so basically fragile, i think, psychologically fragile that you see him at the white house press correspondents dinner trying so hard to be funny, but if you saw his lips, his cheeks, he didn't like it. he feels under total assault, which he is, but he created the reasons. stuart: his 8 eight years in office characterized by a very
difficult, bloody situation in iraq. he was able to not make fun of himself, but to accept what had happened and still put out sort of positive view of himself and of our country. as a direct contradiction between president obama and president bush. >> bush truly believed in his vision. a man whose principles were more important than his personality. he really believed what he was doing. he believes more in his personality, and that the personality doesn't work anymore, what does he have left? stuart: you wrote that way back, right? when did you write that? >> in 2012.
stuart: did you see this coming? >> yes. i talked about his desire for the narcissistic trappings of the white house, but his lack of believing anything other than himself. i think when that happens, you have a president who is very vulnerable and this guy had essentially become a lame duck. stuart: this is where the president does indeed go on attack, but roll it now. >> colorado legalize marijuana this year. an interesting social experime experiment. i do hope it doesn't lead to a lot of paranoid people within the federal government is out to get them, listening to their phone calls. and the koch brothers bought a table here tonight, but as usual the use the right wing organization.
hello, fox news. stuart: he brought in the koch brothers and went after fox news. >> i think he truly believes fox news is his problem rather than he has created his own problem. i think he truly feels that. this is pretty normal for people to be in denial about their own shortcomings. is very hard for a guy who really ran on nothing but his own personality, his persona determined that is no longer working. >> how does it apply to other presidents with the correspondents dinner? how does it stack up? >> going all the way back to jfk and others, they had a good time, really enjoyed themselves. this guy is not enjoying
himself, he is not accustomed to being criticized. in the white house. surrounded by michelle obama, people like that who only tell him how great he is. when he finds others not agreeing with that, throws him for a loop. stuart: thank you for joining us, please come back with your next book which you cannot tell us about. eric holder says no bank is too big to jail. the halftime report on that next. i ys say be thman with the plan
but with less ergy, moodiness, i had to do something. i saw mdoctor. a blood test showed it was low testosterone, not age. we talked about axiron the onlynderarm low t treaent that can restore t vels to normal in about two weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especlly those who are or who may become pregnant, and children should avoidt where axirons applied as unexpected signs of puberty in children or changes in body hair or incased acne in women may occur. report these symptoms to your doctor. tell your doctorbout all medical conditions and medications. serious side effects could include increased sk of prostate cancer, worsening prostate symptoms, decreased sperm count, ankle, feet or body swelling, enlarged or painful breasts, problems breathing while sleeping and blood clots in the legs. common side effects include skin redness or irritation where applied, increased red blood cell count, common side effects include skin redness headache, diarrhea, vomiting, and increase in psa.
ask your doctor about axiron. >> apple has won the latest round in ongoing patent fight against samsung. they have ordered them to pay $120 million to apple after it found a south korean company copied iphone patents for their own line of smartphones less than $2.2 billion that apple was originally seeking. apple shares at the moment are up about three quarters of 1%. the amazing spider-man two debuted with $95 million over the weekend according to studio estimates.
keith fitzgerald joins us from portland. liz macdonald next to me in new york. eric holder says no firm is too big to jail. is this all about bankers in orange jumpsuits? what do you think? >> it ought to be. it is, in front of them, this is just more speech for the masses. no question in my mind this is where the size. he is clearly on the porch because he can't run with him. stuart: he's going back to the financial panic of 2008. what do you say about it? >> this is five years after the fact. he is saying some described it is too big to jail. he himself was testifying last year for the senate saying yeah, it is a problem to bring
prosecutions against companies too big. he is contradicting himself. if you prosecute a company or a bank, they would lose their license. stuart: what is hurting this market? when we opened up the business today the dow dropped 120 points. now what was that? something to do with ukraine or was it a look back at the jobs report from friday or a look forward to maybe an absence of growth in the u.s. this year? what move the market down earlier today? >> it was more ukraine than anything else. there is a rumor mill running rampant. ukraine is the real issue. stuart: thank you. here's what else we have for you, nicole, profits doubled. why is the stock down?
>> it is because the demand they have seen for chicken. these has been going up in price. a surge of demand, but the outlook here going forward, pork in particular because of a piglet virus. it may hurt pork supplies and that is hurting the stock down almost 9% as we speak. stuart: next up, target at the top. the ceo is out, is this about the data breach? >> fourth-quarter profit down by 50%, and they lost nearly the market cap lost that target almost equated to the size of jcpenney market cap. repeated apologies over the data hack. it was coming back but now out. stuart: i was reading my notes, you think alibaba will buy
yahoo? tell us. >> if i were alibaba, i would be thinking about the same thing. highly anticipated ipo, so far google, amazon and facebook have largely ignored this player. i would be doing the same thing. i think it is going to take about 12 months to come to terms with it, but this is a big, big play, one of the most significant we have seen backed by real business, not just vaporware. stuart: a lot of investors can now sell their shares. they think the stock is overpriced. >> i do think it is overpriced when there could be some serious selling.
wall street expected that stock price showed it. stuart: you have a habit of bashing the names. >> i like using it. >> it is hard, not on the big scale people were hoping for. people are settle into the idea it is a niche. >> the cover story is investing in india. tell us about this bank. >> it is a good way to invest in the rising consumer economy in india. the elections will be good for the economy there and for the market. stuart: look what you did, 3% gain in india. what does it feel like to be able to move the market just like that?
they're the days to take care of business. when possibilities become reality. with centurylink as your trusted partner, our visionary cloud infrastructure and global broadband network free you to focus on what matters. with custom communications solutions and responsive, dedicated support, we constantly evolve to meet your needs. every day of the week. centurylink® your link to what's next.
humans. we are beautifully imperfect creatures living in an imperfect world. that's why liberty mutual insurance has your back, offering exclusive products like optional better car replacement, where if your car is totaled, we give you the money to buy one a model year newer. call... and ask an insurance expert about all our benefits today, like our 24/7 support and service, because at liberty mutual insurance, we believe our customers do their best out there in the world, so we do everything we can to be there for them when they need us. plus, you could save hundreds when you switch,
stuart: the search for truth underway. a benghazi slash the committee to be selected. his up and delivered secretary of state. the congressmen on the search for justice. tonight at 7:00 eastern. please be with us. stuart: newsflash, cheryl casone is back. twice in one day on the same show. she has hot properties. you are looking at nashville and philadelphia, and million dollars. >> start with nashville. this price point gets you a farm and a cabin and nearly 6000
square foot house. this is 25 acres a little over 25 acres. the private riverfront estate, literally a river runs through it. i am not kidding. there is a boat ramp, and in law suite. $168 per square foot. mortgage $3800. this is kind of the burbs. this is not the city. stuart: a million dollars, 20% down. $800,000 mortgage. >> it is a standard mortgage rate. it is beautiful. stuart: philadelphia? >> different story. a four-bedroom, three bath, 2500 square foot home built in 1914, so very old building. if you like vintage, great.
he will have to spend some money to fix it up. two and a half bath, a den, dining room, parking is kind of an issue and they have been dropping the price on this one. they had to drop it. a three-story home. it is vintage. that is the polite thing to say about this one. they dropped it down to 995. it was 1.4 million. they are actually having trouble with this one. $3800, same exact mortgage. stuart: we're not saying live here or live there. pressing this is what you get here in this is what you get there. there is a big difference. welcome back. not bad at all. do it again tomorrow if you're not careful. more after this. (mother vo) when i was pregnant...
i got more advice than i knew what to do with. what i needed was information i could trust on how to take care of me and my baby. luckily, unitedhealthcare has a simple program that helps moms stay on track with their doctors and get the right care and guidance-before and after the baby is born. simple is good right now. (anncr vo) innovations that work for you. that's health in numbers. unitedhealthcare.
stuart: it is cinco de mayo, the fifth of may. here is your take. john had this to say about target ceo who steps down abruptly today. "he was not responsible for that data breach, that falls on the it department, he is just the goat." bruce is on my side when it comes to celebrating cinco de mayo. he says "i consider it freedom of expression protected under the first amendment. i don't subscribe, but i don't have a problem with those who do so responsibly." let's check the big word. where are we as we close out today's "varney & company." the dow down 13 points. much better than when we started down 120. something brought it back up again. now here is deirdre bolton. deirdre: thank you.
you're with us here on "risk & reward." we give you more ways to invest your money beyond just stocks and bonds. we focus on real estate, hedge fund strategies, even art. our top story, when well-known hedge fund manager asking the sec to stay quiet. the tricky relationship between an activist asked the sec. and venture capitalist fred wilson said openly skyhigh valuation are trapped. more on the implications for startups delaying going public. and billionaires on bitcoin, buffett and gates tell us if they think virtual here to stay. ♪ deirdre: here's a quick check in on stocks. you have the dow reversing triple digit fall although now going into negative territory.