tv After the Bell FOX Business November 13, 2018 4:00pm-5:00pm EST
eric lowenstein. jenson quality growth fund. he is the portfolio manager. we can't seem to get above the glad line even with 10 seconds left. [closing bell rings] there is the closing bell. nasdaq is just slightly positive. i think it will just go negative. that will do it for the claman countdown. i better get out of here. connell: roller coaster of a day on wall street. if nothing else we're very, very brave. three-day losing streak for the dow is all over the place today. really oil is the story if you think about it. that is some decline today alone. look at that, down 8%. the s&p 500 and the nasdaq also fighting, kind of for gains as liz was talking about towards the end. s&p basically is flat. we'll cover oil, we'll cover it oil, we'll cover it all.
i'm connell mcshane. melissa: i'm melissa francis. this is "after the bell." we have more on the big market movers, but here is what else we're watching this hour. trade on the agenda at the white house. president trump sitting down with the top advisors today. we have the details what was discussed, what it means for the economy moving forward. plus new faces on capitol hill. self key races remain undecided. congress is back in session. fresh lawmakers arriving today as the fight over leadership begins. the latest on the battle for power. wildfires raging out west. one is now the deadliest and most destructive inferno in california history. emergency crews say it could take weeks to put out the flames that have killed dozens and turned communities into ash. connell: more on that story coming up. on the markets today, look at it, with the dow down 100 points. exxonmobil, chevron, also boeing. the big losers kristina partsinevelos covering it all on the floor of the new york
stock exchange. hey, kristina. >> like you just mentioned it was an epic selloff when it came to crude oil. we see that continue several days in a row. that did weigh in on the markets but let's start on a few companies. boeing, we actually did see that lower, we'll bring it up on the screen, down $751. two reasons -- $7.51. their delivers are in october came in lower than expected. that is their largest source of profit. the company also may have been withholding information when it came to its flight control system. that may have played ad role in deadly crash on october 30th in indonesia where 189 people did perish. investigators are continuing to look into that. we switch gears, we saw ge stock rising. the company announced they will restructure a little bit. the power business is struggling as of late. they're looking to sell off part
of the stake in baker hughes. they have a 62.5 stake. they're trying to move it down to 50%, restructure, and get some leverage. last but not least quickly starbucks a report came out reducing their workforce by 5%. laying off 350 employees. trying to affect u.s. sales but as they push healthier options into stores like the protein shake. i tried it. not bad. guys? melissa: thank you, kristina. oil plunging 7% today, extending its longest losing streak in history. phil? >> we're talking about the dow being down three days, oil traders would love to have only three days down. it is 12 days down. that never happened before. talk about a one-day drop, we haven't seen a drop like this since 2015. everybody asking me the question what happened? a month ago we were four-year highs. $77 a barrel and now the market is plunging.
there is a lot of reasons. today we got a report from opec. they're telling us demand will not be that strong, right? they raised production to make up for the loss of iranian barrels. we didn't see a big increase. they did make up for that last month. right now opec has no defense for the tweet. yesterday we heard from saudi arabia that they were going to start cutting oil production by 500,000 barrels a day. that opec was laying the groundwork for another production cut. donald trump of course said, hey, i hope you're not going to do that because we think oil prices are too high and opec never responded. so is now donald trump's tweet making policy for opec? in the past when donald trump has tweeted about oil production they have listened to him. this time they didn't respond one way or the other. the oil market took that as negative. right now a selloff like this, you have to really start asking questions what this means for the global economy. is this signaling a major slowdown in the economy? that means oil producers will
have very difficult time making demand or, is this an oversold market. could be either way. we'll find out soon. melissa: phil, thank you. connell: let's go to our market panel on this gary kaltbaum joins from us kaltbaum capital management. he is a fox news contributor. melissa armos from the stock swoosh. good to see you both. phil says we have to start asking whether, and we will, this has implications, the oil selloff for the global economy? something to see it down 12 days in a row down to 55 bucks a barrel. what is the bigger or larger message of all this if anything? >> well, look combined with everything else we're seeing it is worrisome. look the good news, oil prices are down 27% since october 3rd. that is a huge expense cut for consumers, business, especially the airlines and truckers and things like that. but, that type of drop combined with the new yearly lows in some
of these economically-sensitive areas not only here and around the globe is telling me that in the months ahead we're going to have a serious slow down in economic growth. you are already seeing it in areas around the world. but i suspect we'll see it here also. connell: right. >> the market is a very good telegrapher of it. i think this is part of the process. connell: gary has been on this point, melissa, for a while. to his point, there are, those signs are all out there. forecasting the futures is a difficult thing to do with the economy, much less the market do you agree with his point that we should start to get worried here? >> no, i'm not actually worried. i am good reading when stocks fall because i teach people to short stocks. if there was something to worry about i would see it. when stocks drop, it is selling action and panic. yes we fallen off last few days, a lot of stocks have fallen if you look the way the earnings season turned out the last few
weeks, it wasn't as good as it could have been. when you look at it overall, just in october the dow made brand new all-time highs. it is hard to be bearish. i'm not bearish fundamentally or technically on the market. connell: we're on the verge after bounceback? >> i don't know if we are or not. looks like tomorrow morning we're sold off, we couldn't sell off. one thing could turn the market around, if trump gets some kind of deal done with any one of these tariff situations you could see a huge morning gap up in the premarket. buying will come in and scoop after the election. connell: sets us up what we're about to talk about. we'll come back to you guys. melissa. melissa: easy aing tensions with china. president trump meaning with advisors at the white house today. blake burman is has the latest blake. reporter: the president meeting with his seniors advisors as it relates to trade. one topic i was told would be
under discussion from the group was whether or not there would be an auto tariff coming down the line potentially. the president has made that threat of 20 to 25% on auto imports. he has specifically singled out the european union in this case. did so earlier this summer though the united states and the european union are set to have discussions here in washington tomorrow. the top commissioner for the eu is set to meet with the president's top trade representative robert lighthizer. it also stands to reason considering the g20 meeting later this month in bain knows, argentina, that the president and his team would talk about china with the trade meeting. the president is set to meet with chinese president xi xinping in just 2 1/2 weeks. the president's top economic advisor larry kudlow said earlier today as it relates to dialogue between both sides, that is improving. >> we are now communicating at all levels. we're working, as i say on
background material in preparation. we're waiting for china to come back with some thoughts. and the process is on going. reporter: by the way a pretty unusual event here at the white house within just the last hour or so. a spokesperson for the first lady melania trump saying that the first lady and her office want the deputy to john bolton, john bolton national security advisor, his deputy, they feel that she no longer deserves to be in her drive. here is a statement that the east wing put out within the past hour here saying, quote this is from stephanie grisham, a spokesperson for the first lady. the office of the first lady, no longer deserves the honor working in this white house of the according to reports this stems from disagreements that the first lady had with ricardo last month during her first overseas trip alone when the first lady traveled to africa. this is highly unusual connell and melissa, considering when there is speculation regarding
possible turnover in this administration the west wing normally says, no personnel announcements at this time. the president has the confidence in that person. we'll let you know when that changes. however the east wing today is getting out ahead of this one saying one of the top members of the national security council no longer deserves to be in their position. melissa, connell, back to you. melissa: blake, that leaves all of our audience asking, what the heck went on between these two? do you know? can you say? it seems, go ahead. reporter: we've made calls on this one. this just moved within the last hour or so. the reporting of others is that there was an issue as it related to the first lady's trip in africa. as for the exact details just yet we're making calls. melissa: still a mystery. will be a hot topic for sure. thanks very much, blake. forgive me for putting you on the spot but i know everybody at home is wondering the same thing. gary, what is your take on all
these latest twists and turns? i will direct you back to the idea of trade and larry kudlow saying talks are smoothing out? kind of reminds me once again people who deal in new york real estate, especially developers have a very different language an way of dealing with each other than diplomats. pretty much the opposite. >> i have noticed over the last couple months every time the markets got hit we get kudlow come out saying, trade is going smoothly. three days later he says the opposite. i don't know what the heck is going on. i think we've been talking about china trade for what, eight, nine, 10, 11 months? we're still in the starting gate at this point in time but i do think something is going to happen here. i do believe that the trump administration knows if something doesn't get done, markets will take even a bigger hit and they don't want that to happen. so i think they're going to start moving a little bit towards china. hopefully china move as little bit toward us, and get a deal done already because nothing good happens right now.
i've been reading stories about how spending by corporations have been heading down because of uncertainty in tariffs. we're talking about higher prices. i heard the a great story today they made $5 billion because of it at treasury. whoop-dee-do, nothing good happens if this continues. hopefully this gets done sooner rather than later. >> melissa, gary talks about we want certainty about the outcome and companies want that, the certainty before this you were going to get robbed if you did business in china. that they were going to take your intellectual property. the plain ground was very unlevel. so we may not be making a lot of progress but the other situation wasn't great either. why is that better, melissa? >> both of them are problems. the tariff is a problem because of the inequality with the tariffs and intellectual property is a problem why it's a twofold problem. as gary said it has gone on for most of 2018. i don't know if it will be
resolved by the end of 2018 but one thing we need china, china needs us. many chinese people believe americans can't afford to buy all american because it is more expensive and because a lot of things, where it says 99 cents a lot of those things are made in china. so we really need each other. in order for the global economy to be in sync and be harmonious hopefully it will work out. when the summit occurs i don't know. but if something doesn't get resolved by january 1 the tariffs go up by 10%, to 25% and that the market will not like. my concern you can never miss the bottom if you're long the market. people will miss the next rally. once this problem is resolved, i can't look into a crystal ball but once it is and trump is determined to resolve it then the market is going to rip. if you are not in the market you will miss the next move. melissa: gary, melissa.
thank you. connell: we have to shift gears to the awful story out in california as rescue crews work around the clock as wildfires rage up and down the state. no sign of any slowing down. a report coming from one of the hardest hit areas coming up. melissa: a high speed sprint to the end of year. congress is back in session amid a looming leadership fight. what could the blue house mean for the white house? fred barnes, the executive editor of "the weekly standard" is next. connell: the tough talk on amazon. why the democratic darling, alexandria ocasio-cortez, used to be in the news a lot says her community in queens, new york, is supposedly outraged over amazon's second headquarters. melissa: seems like good news. connell: you would think. ♪ future. annuities can provide protected income for life. learn more at retire your risk dot org.
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melissa: some new faces in washington today. newly-elected officials arriving in the nation's capitol as orientation for lawmakers begins. what is on the agenda for the new congress? edward lawrence is live on capitol hill with more. it must have been like the first day of school. everybody bringing new backpacks and lunch boxes, was great? >> i'm sure they dusted off the old lunch boxes they had in school to bring on the first day. it was a very interesting day as orientation happened as congress coming back into session for what is commonly called the lame-duck session. we have a change of power in the house from democrat to republican. today as you mentioned there is the orientation for new members coming in. the new members still questions who will be the majority and minority leader in the house. those new members not indicating who they will vote for whether representative jim jordan or representative kevin mccarthy, the current house majority leader as the minority leader. >> i would say i have not made a decision yet. i have gotten close with kevin
mccarthy. i think very highly of him. i think he is a very good conservative. showed a lot of leadership. on the same note, jim jordan is a tough, focused, smart individual. so i respect him as well. reporter: democrats also coming to the congress here on capitol hill but not new faces. some familiar faces are in the crowd here. donna shalala, who was the secretary of health and human services under president bill clinton, now she is in congress. >> i've never been an elected member of congress. so it is going to be an interesting experience. i'm used to testifying before them. i'm used to making policy with them but i've never actually been a member myself. reporter: between now and the end of the year there are a number of items on the legislative agenda. specifically the future of the president's economic plan, also fa lam lar threat to shut down the government if the president doesn't get the funding he wants for the border wall. it could be a partial shutdown. some of the government is funded
through next year. but december 7th, part of the government could shut down, specifically the department of homeland security which funds border infrastructure. back to you. melissa: edward lawrence, thank you. connell: that gives us a lot to talk about with fred barnes who joins us now, executive editor of "the weekly standard," fox news contributor as well. boy, let's start here. a couple things i want to ask you about the shutdown possibility first. is that something you think is realistic? what odds would you put on a government shutdown in the lame duck? >> i would say 100% it won't happen. we are always going to have them. a government shutdown is merely an idle threat. connell: then they figure it out at the last minute, 11:57, whatever, we get one of the deals, okay, that's fine. that's off the table. let's talk about the new congress a little bit. we hear all the scenarios, for us when you watch the markets, oh gridlock is good, others say there will be some deal-making done of the president will cut a deal with democrats on infrastructure, tax cuts 2.0 are
a possibility. first half of next year, what's realistic? what can we expect? >> i think something on infrastructure is possible. both democrats and the president have talked about reducing prescription drug prices in the u.s. those are the two big things but they're not going to happen right away. you know the thing the first day will be a big issue? connell: yep. >> the request by richard neil, new chairman of the house ways and means committee, to president bush, hand over your tax returns. connell: president trump. >> yeah. connell: president bush, just kidding. and that is where we start. so your point is, it will be all about going after trump, the new democratic majority going after trump? that is the story of the year? >> well, that is the story of the beginning of the year. and i think at some point they're going to have to get to these serious issues of of
infrastructure. trump talked about it a lot, not much during the last year. and things he is interested in. also drug prices. those are big ones that there could agreement between democrats and trump. connell: that's true. drug prices another one you would think the parties might align at least philosophically. let me ask you about trade before we let you go. we were talking about at the top of the hour in relation to markets and everything. i thought it was interesting. to gary kaltbaum's point, we see larry kudlow come out and talk as he did today, hey, we're making progress. we're talking about again, u.s. and china. seemed to help stocks a little bit today. this is separate from congress being something the administration needs to work on its own but should we look at the g20 meeting between president trump and xi xinping. president trump is moving into deal-making low, make some kind of a deal, do you think he is
changing his tune on china or no? >> no, for him being tough on china is where he is is and where he ought to be. look, the whole effort of all of these trade deals that he has talked about, worked on, have been designed to isolate china. and get the whole world agreeing with him, the to work without china, and, agreeing on the notion that china does not trade fairly with the u.s. and everybody else in the world and we've really got to crack down. connell: so your bet this will -- this is what people in the markets are trying to figure out. this is going to last a while, the back and forth with china? >> it will be a big issue all year in 2019. connell: good to see you. thanks a lot. fred barnes, for coming on today. >> you're welcome. melissa: bruising battle in the sunshine state. key races in florida are still contested as the clock ticks down toward the thursday deadline of the latest on the state of recounts is coming up.
connell: the recounts continue in the state of florida. officials still tabulating votes there, trying to determine which candidate will be moving into the governor's mansion in tallahassee or heading to d.c. as the next florida senator. fox news correspondent phil keating still live in lauderhill, florida, with the latest. what is happening today? reporter: we have breaking news out of tallahassee. in the past hour a leon county circuit judge ruled the 3 p.m. thursday deadline mandated for all 67 counties to have their machine complete may exempt palm beach county. the judge granted palm beach county a five-day extension to november 20th. that is next tuesday to complete
their machine recounts. the supervisor of elections there, susan booker said they thought they could complete the recount of the senate race by thursday, but the rest of the statewide recount races she was highly skeptical of. now it's a five-day extension for palm beach county. however she fully expects this ruling not to be absolutely final. this will undoubtedly be challenged in federal court. meanwhile here in broward county, it has been quite the day for this beleaguered elections office. they are now, according to an official inside ahead of schedule in the redown. they have now competed recounting and tabulating the votes of all 300,000 votes that were cast early over the two-week early voting period. that is about half of the total vote in this election. and they now must sort through all of the day of voting ballots as well as count and tabulate those votes by mail. meanwhile the broward county supervisor of elections, brenda
snipes, really under attack all week long, people demanding she either be suspended or resign. well, governor jeb bush, former governor who actually appointed her years back when he was governor, he says she absolutely should resign after the recount is over. this afternoon she indicated on camera that perhaps, maybe it is time to move on. meanwhile miami-dade county, the most populous in the state, does believe very easily it will make the 3:00 p.m. deadline on thursday. some counties, connell, have already actually completed their recounts. back to you. connell: about that? a lot to go through there. thank you, phil keating live for us. >> here to react, francis rooney, florida congressman, vice chairman of the house foreign affairs committee. tough ask you first about the election back home in your home state there. you know if i lived in hillsborough county or one of these other counties i would be so frustrated that you have broward and others getting all this extra time to finish, you
know, not following the law. if i lived in one of the other counties, missed in deadline with my mail-in ballot, why does not my vote count what do you think is going on? >> you said it very well. we're supposed to be a nation of laws, not men. we have laws to govern the electoral process, ballot security and those kind of things, they ought to be followed. i don't know where this leon county judge is coming from, it is not the american way to ignore laws you don't like. melissa: yeah. what do you think happens from here? i mean now we're hearing that going to be a five-day extension for palm beach, and you know, a lot of people are losing confidence in whatever the final tally is, whether it is accidental, whatever happened. you start to lose confidence. >> of course you do. it undermines the institution of the vote in america which is supposed to be based on our electoral laws. look at some of the shenanigans and palm beach county and broward county perpetrated for many years, there is already
damage to their reputation that is being perpetuated right now. melissa: let me ask you what is going on in washington. the party needs a new leader in the house. are you supporting kevin mccarthy or what do you think of the other contenders? >> i feel kevin mccarthy invest ad lot of time and interest in our area. he personally flew down to the everglades with me, and looked at all the okeechobee watershed restoration projects, stayed at our house. i've seen him work effectively to help us get major appropriation west need to restore the everglades. i feel very close to leader mccarthy and think he would be a great minority leader. >> what is the mood like there? when you pass people in the hallway, there is a natural comradery comes to, everybody just won and they're back. do you feel any sort of potential to come together or do things feel very heated? what are things like there specifically? >> i haven't seen too many people. this is the first day back. i made a habit in the 115th session to reach out to
democrats to talk about things we find common ground. i look forward do something that in the 116th session as well. melissa: do you think it is possible? >> yeah. i think it is. there are areas like infrastructure you were talking about. perhaps the drug prices i'm so thankful the president is getting after. i introduced bills to codify what the president wants to do with a democrat cosponsor, peter welch. melissa: the problem medicare pays those high prices. so i don't know, you have to get it sorted out there in washington. congressman rooney, thank you for your time. we appreciate it. >> thanks for having me on. connell: we still have to get out to california where things have been getting worse, if anything. at least 42 dead in the fire in the northern part of the state. hundreds remain missing. we'll have the latest on both of big wildfires and all the devastation after a quick break. ♪
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clearing away debris so power can be restored and evacuees can come back. to name trim. could be after thanksgiving. a dozen search teams are sifting through the ashes searching for remains. they may find bodies where they come across multiple vehicles in driveways and roads. we heard stories where the car in in front got stuck and trapping those behind and perished. people are waiting out in with friends, shelters, hotels, mall parking lots, have become tent cities of sorts with survivors banding together, sharing their terrifying stories how they escaped the flames. >> couple hours later, made our way through that area, the cars that were about 100 yards in front of where we stopped were all on fire. guardrails were gone. people were driving crazy. they were zipping back and forth without even looking. reporter: the president has been expressing his sympathies. last night he declared a major federal disaster in california,
freeing up federal funds to help with recovery. he tweeted his support for firefighters and families. the impact of this fire extending far beyond the city of paradise or butte county. toxic smoke is affecting millions of calfornians, even forcing school closures? oakland, nearly 180 miles away. melissa: wow, claudia, thank you. connell: at least they're making some progress, as bad as it is. we'll shift over to amazon. one congressman pointing the finger at amazon, pointing out hq2 and 3, whatever else, why the incoming congresswoman from the state of new york, alexandria ocasio-cortez, says the move is already making her new constituents angry. that is next. ♪ the fact is, there are over ninety-six
hundred roads named "park" in the u.s. it's america's most popular street name. but allstate agents know that's where the similarity stops. if you're on park street in reno, nevada, the high winds of the washoe zephyr could damage your siding. and that's very different than living on park ave in sheboygan, wisconsin, where ice dams could cause water damage. but no matter what park you live on, one of 10,000 local allstate agents knows yours. now that you know the truth, are you in good hands? connell: striking a cautious tone, the congresswoman elect from new york, alexandria ocasio-cortez, seems to be getting a lot of attention, not even in the congress yet,
raising concerns over amazon's second head quarters being located in queens, new york, long island city. here is other quote. amazon ace billion dollar company. the idea it will receive hundreds of millions of dollars of tax breaks at a time our subway is crumbling and our communities need more investment, not less is extremely concerning to residents here. she had a few other tweets. gary kaltbaum joins us on this. presumably, i don't want to put words in your mouth, to say maybe this is economically misguided. what do you make of the congresswoman's issues with amazon coming into new york? >> i did an interview with the biggest radio station in chicago today talking about this. after telling them what the politicians and in long island city have been saying. you know what they said in chicago? please send amazon here. connell: we want it, yep. >> i can promise you cities will line up this is one of the great brand name corporations in the world. imagine saying 25,000 jobs,
paying $150,000 a greer. you know what that means for means for restaurants retail, and doctors, lawyers, account ants and everything else under the sun? it is virtuous cycle. i know socialists are economically illiterate but i guess insanity comes with it. by the way, not just her. councilmen have been talking about it. a state senator came out and said we don't want this. to do a rally against this. i do not even know what to say about it. connell: mark warner, senator, a democrat, has a background in business. he put a statement out, he was all in favor of it for northern virginia as an example. so not everybody but it is kind of new wave of thinking which seems kind of counterproductive, you're right about that. you talk about economic impact stories. sometimes we see, if it's a sporting event, for example, coming to an area, that is only short term. at the end of the day it doesn't matter much but this is
permanent move. get the salaries there. the journal did a great story on real estate. buying apartments in new york city on spec. amazon is coming. prices are through the roof. this is a pretty good move you would think for both of these areas? >> has anybody really heard of the words, long island city before this week? i know it is famous up there but not around the country. it puts them on the map. it is not just about amazon. it is about the next company that may think about. by the way, all the talk, they always complain about spending, they use the term investments, it's a great investment to bring a company like this there. connell: you think that is the argument? is it worth a billion dollars, whatever its, over a billion dollars? you think it is worth it with the tax breaks and tax incentives? that would be argument, corporate welfare, giving handouts to the companies that don't need it, quote, unquote, but you say that is worth it in this case? >> hell yes. you're talking about long-term growth. long-term growth.
amazon is already talked about investing $5 billion into the area. again, i use the term virtuous cycle. you start something and it leads to the next and the next. if there are areas that may be dilapidated in long island city they get built up. all of sudden you have shopping malls and starbucks and things like that. it just turns into greatness. the amazing thing to sit back and say, no, we don't want this, is absolutely crazy. again as i said it best, 200 cities will line up tomorrow if they tell, if long island city tells them to take a flyer. connell: to be fair long island city it has been up-and-coming. it should have been forever. years ago it was beat up. it has been up-and-coming last few years. this will help it even more. >> no doubt. my main point, not a lot of people know about them. connell: i get you. >> now they will. it is on the map. connell: northern virginia as well. good to see you, gary.
>> thank you. connell: so much for the cheap apartment in long island city by the way but -- melissa: i know. rents are going to rise. property values will rise. connell: that is good. melissa: the whole area. connell: that is a good thing. i was joking around. they are. that was a good story, if you read it in the journal. people went out, as soon as the rule more broke that long island city was going to get it. i'll take an apartment. they are buying it on spec. melissa: the representative complaining, it is jobs, money, increasing property values, all the good things. connell: there may be a possibility of misunderstanding about economics there. melissa: possibly. arizona finally declaring a winner for the u.s. senate. some races are undecided. how this impacts the balance of power. james freeman of "the wall street journal" is going to break it down for us. [ phone rings ] what?!
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♪ melissa: one down, two to go. democrat krysten sinema prevailing over martha mcsally in the arizona senate race. bringing balance of power to 51-47. here is james freeman, "wall street journal" and a fox news contributor. we all know it is not just about the numbers. it is about how strongly the folks on both sides vote with their parties. that is what it about. if democrats hold at 47. say the republicans keep those other two and end up at 53, how strong are the numbers on either side? are there more, you know, like jeff flakes out there who are a little flaky? >> i think mitch mcconnell is pretty happy if it works out to be 53 which is, what it looks like at this point. it's not only solid majority where you can lose a few votes. it is also in some ways on key
policy issues a stronger majority. for example, in tennessee you've upgraded from bob corker who kind of had to be dragged along kicking and screaming to cut taxes, to marsha blackburn who is really a pro-growth champion in the house, and now in the senate. so i think having that margin also, you notice now, you can pretty much talk about any of the supreme court nominees, as vacancies arise, that they have had on that list. you now can lose a few people who are maybe a little concerned about this or that nominee. so the, full speed ahead i would say on judges and justice if there is another opportunity. melissa: yeah i mean, say we have the challenge again. you know maybe you can count on susan collins, maybe you can't. you know, same thing goes for alaska. connell: right. >> ma cows ski. melissa: what --
melissa: what about mitt romney? >> you could lose him and still have the tiebreaker. melissa: what about everything else? >> it's a concern because he is obviously had a difficult relationship with president trump, embraced him when mitt romney ran for president. welcomed his support then had horrible things to say about him then he wanted to get a job in the trump administration. once that didn't work out, trying to stake out, define himself as his own man again. i think he could be interesting in the chinese sense of the word for mitch mcconnell as he tries to cobble together a majorities this coming year. melissa: the way you described that they were buddies, then they were bitter earn mys, he wanted a job they were buddies again. that could apply to anyone who had a relationship with president trump. that could just, is across the board. >> yeah. melissa: talk to me a little bit about the house now. so as it shakes out, i keep pushing this theory, i'm not
sure it is going anywhere, that if you have democrats with majority in the house and they have a seat at the table, and the president's willing to deal, which we all know, let's make a deal, is there a chance for more to get done because they would have a stake in the out come, could say we forced him to do this, yeah, we had to give away this, but look what we did? any chance for stuff getting done? or is the house a lot of cause as always? >> yeah. i don't know if any great policy will come out of it. certainly there is a lot of pressure on democratic lawmakers to be in full resistance mode. i would certainly think they want to work with him on their priorities. if he is up for raising tax rates. melissa: oh. >> up for prescription drug price controls. melissa: oh. >> if he wants to spend a lot on infrastructure which he does -- melissa: oh. >> i think you could see some areas of agreement there. so you know, there are virtues to gridlock. obviously the founders knew
that. we saw in the 1990s, it led to a lot of great growth in the late '90s especially. melissa: you say if they want to grab our hard-earned money to spend on a bunch of stuff everyone can get together on that? that is new in washington. >> washington figures out a way to do that. melissa: james, thank you. connell: on that note. fiving back at the white house, this feud between the trump administration and cnn reporter jim acosta continues. the man in charge of cnn's parent company is responding to that we'll have that response and more when we come back. (vo) 'twas the night before christmas
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tech d-live conference in laguna beach. reporter: over and over, every panel that i have attended here at laguna beach, they have been talking about regulation, i think concern for tech is oversight in future, they pretty much plan for it but what form is the big question, a big speaker this afternoon was amazon senior vice president of devices, he took stage. you can imagine first question lobbed to him had to do with choosing crystal city, and long island as next headquarters for amazon. >> it was data driven. the result reaction was overwhelming, we did not expect that. it is a lot of jobs. and then we used the data to narrow it down to a shorter list, in the end, i think jeff mentioned, a lot of times you have to go with your gut, it
turned out in this case, really matters even after cutting through data is where great inventors great people you want to have work at amazon, where they want to live. reporter: there you go, that is why they chose the cities they did. another big speaker last night, was at&t's ceo randal stevenson, at&t owning time warner, which in turn owns cnn. he was asked about jim acosta and revoking of his white house trespass -- press-pass. >> if president buzz not like his conduct in press briefing room, then there is a process to articulate he does not like it. but there is a process, there has been no process followed to remove his credentials. reporter: now, i have to point out stevenson said that cnn seems to like acostay work, he did not say they like the jim acosta's work.
before i leave, i will show you what happening, a technology conference. connell. look at you, having fun. we go the headline from federal judge they are having are lookt cnn lawsuit. melissa: very interesting for what it is worth, bulls and bears now. david: this is bulls and bears, thanks for watching, i am david asman, joining me caroll roth, jonus -- is that liz cl -- clam, we're back again. after months of pr campaign showing amazon shopping for two newest headquarters, guess what, they end up inside of epicenters of big commerce and big government, new york and dc, panel was it