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tv   Maria Bartiromos Wall Street  FOX Business  October 5, 2018 8:00pm-8:31pm EDT

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at least at facebook. that's a shame. judicial watch's chris farrell. and charlie hurt among our guests monday. we thank you for being with us. good night from new york. maria: happy weekend. welcome to the program that analyzes the week that was and helps position you for the week ahead. home depot co-founder and billion area investor ken langone. but first, connell? reporter: some trade news. the president agreed to an historic trade agreement between the united states, canada and mexico. repealing nafta and ending months of disputes between the
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three countries. he hopes congress will approve it it's expected to take effect january 2020. the u.s. economy adding 220,000 jobs in september. the unemployment rate is the lowest since 1969. 3.7%. the dow and s & p closed the week in the red. general electric shopping wall street monday ousting john flannery as chairman and ceo. the stock soaring on that news, closing well into positive territory. the fight for 15 makes its way to big tech. amazon raising its minimum wage to $15 an hour. it comes after the company came under fire for working conditions. maria: an historic agreement,
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the united states and canada reaching a deal on a new trade agreement. >> it's going to be a manufacturing powerhouse to allow us to reclaim a spry claim chain that has been offshored to the world because of unfair trade issues. >> it's an agreement that removes uncertainty for manufacturers and investors andism proves labor rights for all north americans. maria: home depot co-founder, and author of the book, i love capitalism. ken langone. this trade agreement is called usmca, that's u.s. mexico canada. >> i think the big thing is it brings the stayed deal more into balance with the u.s., canada
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and mexico. ross perot ran for president in 1992. one of this themes was the giant sucking sound from mexico when they hadn't passed nafta yet. any deal requires modification from time to time if they are long enough. what happened here is the realization it could stay the way it was, and president trump took the initiative by saying for years they sat down, we have got to fix this. he finally said, boys, enough. you don't want a military war, so you had a trade war. so i think both to candace credit and mexico's credit, they realize we had a lot of validity about what could be fixed. and you know, the thing that i find disturbing in this whole thing is i am excited about some of the things trump is getting done. very excited.
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i don't think most of career politicians would have had the guts, frankly, and they proved that by all these years past, they didn't do anything. all of a sudden -- like it or not, he's supposed to represent our interests. we americans. this business about the whole world. he wants elected by the world. he was elected by us to protect us, differences and represent our best interests. i feel good about this deal. maria: and here we are with a backdrop of a strong economy. the jobs numbers were weaker than expected. but the move august was revised up and july was revised up because of the policy encouraging job creation. >> the biggest thing is the regulation modification. regulation modifications. some of these regulations were absolutely without any basis of need.
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none. >> i think it' these outcomes you mention. 4% economic growth, judges on the bench. these outcomes that are positive are driving his detractors crazy. they are going insane over it. we had chuck grassley on "mornings with maria," the senate judiciary chairman. listen to what he told me about what he's seeing right now. >> there is some evidence, but it's still 32 days away, so i don't think you can count too much on it right now. it seems a lot of sympathy for kavanaugh, a lot of things have come to attention seem to be moving people more in the red direction instead of the blue direction. and i hope it continues. i think the battle cry of republicans all over the country for the next 32 days ought to be remember kavanaugh.
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remember kavanaugh. maria: he's saying remember kavanaugh because of the way this has gone down. these accusations that could not be corroborated. fbi investigation. they did seven of them of brett kavanaugh. then these ambushes. what has happened to our country that we are ambushing people we don't agree with? >> let me tell you what concerns me broadly. yesterday the "wall street journal" had an op-ed piece around movie "to kill a mockingbird" with gregory peck. a great movie. there are two periods in the history of humanity i think are tragic. disgusting. prior to the civil war in america, if you were accused of a crime in the deep south and you happened to be black, it
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didn't matter what the facts were. you got hung. that's part of -- unfortunately that's a dark part of our history, but there it is. then in the 30s in germany, whether you did something wrong or not, chances are if you were a jew, you were convicted. i hope all these people understand that if the results of their behavior is tore brett kavanaugh not to get confirmed, we are saying that kind of behavior is not only okay, it's effective, it works. when you encourage bad behavior, you will get bad behavior. the bigger issue for me is not kavanaugh and whether he's qualified. the tragedy is the way this thing has been handled in the context of him as a human being.
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two daughters, coaching kids. we have got to remember -- this nonsense about how he behaved, his demeanor. maria: how would you behave if you were accused. >> how did i me high. when eliot spitzer, that dirt bag, when he came after me and dick grasso for no valid reason. the coast appeals of the state of new york said he had no standing in that case. i was interviewed by fortune magazine in my office. i thought i had an understandingw with the magazine with what license they would take with that interview. i was quite vocal, colorful and salty. translation i said some very ugly things in terms of what's considered to be good language and not good language. there was nothing in my life --
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forget my wealth and success -- the on thing of value i'm leaving my three sons and grandchildren is my reputation. it takes a lifetime to make it and you can lose it in five minutes. i wish i used different words, but i'm blessed to know i had inside me the anger and determination not to roll over for mr. spitzer. i know exactly how judge kavanaugh feels and i would react the same way. maria: we'll take a short break. we have a lot more when we come back after this short break. >> announcer: free medical school school for all. ken langone figured it out. you5 online equity trades?
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maria: nyu medical school will offer free tuition to its current and future medical students thanks to a generous donation by ken langone and his wife. he says that's the way for he and his wife to share the american dream. you say you were worried about america's worsening doctor shortage. why did you give $100 million to nyu. >> i only gave 100 out of the 450. we had wonderful donors and generous people. maria: it wouldn't happen without you starting the whole thing. >> the dean and i started on this 11 years ago. maria: $100 million. i not am huge deal. ken and i are both on the board
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of nyu. but when i heard that news, i was blown away. why did you do it? >> let me tell you why. you and i know matter what the shortage of doctors are going to get care. we know we have the wealth and the resources, all those things. if god forbid we end up with a shortage which we'll right now of 50,000 primary care physicians in the year 2030, the people who will be impacted most negatively by it will be the poor people. the people like my parents were and the people like to your parents were and my grandparents. we are going have good care. but what's that? how could we do the most of good and have the greatest impact. we are going to be short 50,000
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primary care physicians. and 20,000 gynecologists. maria: fewer people are going into that profession? >> those specialties are the lowest paying sector. maria: we have a lot more with ken langone. we want to talk bin vesting and the mid-term elections. >> announcer: in just about one month the fate and balance of power in congress will be determined by the american people. will we headed for a blue wave? introducing add on advantage,
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maria: mid terms and your money.
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recent polls suggest the so-called blue wave may be more a red wave or a ripple on the blue side. we are back with ken langone. in terms of the backdrop. do you think that's what people are going to vote on in the mid-term elections? this is one of the most of consequential i have ever seen. >> the old saying people vote with their wallet, i think some of that is good. but i think people today are a lot more sensitive to other issues. in the case of the economy, big win for the republicans. big win. 3.7 lowest unemployment rate in 50 years? jeff bezos who runs a hell of a company, what he did the other day in part is social believing he needs to help people and i agree with him 100%. income inequality has to be
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addressed. but jeff is also facing the reality that it's supply and demand. he may not be able to get the people he needs for all the things he's doing. at $15 an hour he has a better chance of getting them. home depot from the day we were founded never paid minimum wage. never once paid minimum wage. all 2 to 3 bucs a -- -- 2 to 3 s more. go look at the knowledge base they have. maria: you look at a company like home depot that keeps getting better and bert. the -- better and better. then you look at gerks. what are your thoughts on ge.
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>> i knew jack very well. and we are still close friend. what are my thoughts? if ge were to get a report card for governance five years ago, they would have gatten straight as. they should have gone the fs. where the hell was this board, in the spirit of full disclosure, jeff asked me to leave the board in 2004 because of the interview i had given "fortune" magazine and i used colorful word. and to my good fortune i stayed, i had a lot of stock in ge, and i kept it for 0 days. if i had sold it within 90 days.
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when the 90th day was up, i got $43 a share. so i want to thank jeff in that regard. but i can't believe the pieces he's writing. the latest one is about leadership. and the other one is about managing through low cycles. he took the most of valuable corporation on earth in the year 2000 and today the paper i read yesterday, the possibility that general electric's bonds might become junk status. you are telling me that he did a transformation? he had a big steel ball on a crane and he destroyed it as if he was tearing down an old building. maria: how did he do it? what was the biggest mistake? >> the board of directors.
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here is what you told us the reason was, buying amashan. it's two years, where do we stand? allstrom has been 100% written off. here is the thing that bothers me. where the hell is the sec. he was making projections. ge was supposed to make $2 a share this year. go back and look at it. the tragedy is the poor people that spent their whole lives in ge. the poor guy in indiana the "wall street journal" wrote a piece about. he had $700,000 in ge stoke was going to retire on.
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he had to go back to work because he's down to $80,000. that's a case of a board asleep at the throttle and a leader who wasn't held accountable. maria: the kavanaugh mess that was a circus is one of the reasons republicans are getting fired up. i think there has been a change in terms of what people are expecting in the mid terms. what do you think? >> i think we'll keep the senate. i think it will be 54-46. the house, this behavior by the democrats, i think there is a better than even chance that if we don't hold on, we'll have a 3 to 4 seat majority. maria: you see a lot of growth stories in your career. where do you see the growth. a young ken langone when you first graduated college, where
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would it be. >> only go to a job i love doing. i say to kids, would you pay to go to work. if you say yes, i would pay to go to work, that's the job you want. because you will do well. maria: got to love what you do. >> number one, healthcare. thank god the break through. libby announced a drug for migraine headaches. maria: thank you so much. always a pleasure some see you. around great american. thank you so much. >> i love this country. maria: more "wall street" after this. tancies in the country. you see so many people walking around here in their hundreds. so how do you stay financially well for all those extra years? well, you have to start planning as early as possible. we all need to plan, for 18 years or more, of retirement. i don't have a whole lot saved up, but i'm working on it now.
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...if we listened more? could the right voice, the right set of words, bring us all just a little closer, get us to open up, even push us further? it could. if we took the time to listen. the most inspiring minds. the most compelling stories. download audible. and listen for a change. maria: here is a look at some of the big market events that could impact your money. the bond market and federal government are closed for the
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cluck bus holiday. tuesday. earnings from delta will come out. it's the beginning of the third square earnings season. wednesday we'll get the inflation date of the nfib. ppi is up and earnings from walgreens. big bank earnings will start to roll out. all reporting before the opening belfrey day. be sure to tune in to morning with maria. we are heading for the board of the new york stock exchange to give you the first female president stacy cunningham. catch "sunday morning futures" live when i speak with congressman devin nunes over on
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fox news. tune in weekdays on the fox business network for mornings with maria. 6:00 to 9:00 eastern. i will see you next time. >> i'm bob massi. for 35 years, i've been practicing law and living in las vegas, ground zero for the american real-estate crisis. but it wasn't just vegas that was hit hard. lives were destroyed from coast to coast as the economy tanked. now it's a different story. the american dream is back. and nowhere is that more clear than the grand canyon state of arizona. so we headed from the strip to the desert to show you how to explore the new landscape and live the american dream. i'm gonna help real people who are facing some major problems, explain the bold plans that are changing how americans live, and take you behind the gates of properties you have to see to believe.

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