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tv   After the Bell  FOX Business  February 26, 2019 4:00pm-5:00pm EST

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this roller coaster of a session is ends in a nail-biter. okay? [closing bell rings] major averages fallen negative in the final hour of trade. the dow down 34. that will do it for "the claman countdown." don't move. it is "after the bell." connell: down day on wall street. so much news outside of markets today but we'll close up with the dow at the beginning of the day, then it was up, down, right now settle ising by 34 points lower. snaps a two-day winning streak. up and down, into positive territory. down two on s&p. five on nasdaq. i'm with you, i'm connell mcshane. melissa: i'm melissa francis this is "after the bell." more on big market movers. here is what is new at this hour. ♪ melissa: touching down in hanoi. president trump and kim jong-un
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arriving in vietnam for the second summit. the two leaders begin their negotiations tomorrow night as the commander-in-chief works to take on one of the biggest threats in the world, north korea's nuclear arsenal. back at home, major showdowns happening on capitol hill. fed chief jerome powell, top pharmaceutical ceos all on the hot seat. maxine waters first official shot at wall street after taking the helm at house financial services committee. the house is expected to vote shortly on resolution to overturn declaration of national emergency at the southern border. the latest on the state of play there. connell: a lot going on for the markets to look at. dragged down by caterpillar and home depot. of the get to ashley webster on the floor of the new york stock exchange today. >> connell, i thought we would finish positive. it all drifted away going into the closing bell. you mentioned home depot. let me talk about home depot. you can see down just about 1%. it has been a laggard since the
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opening bell all the way this morning. home detail giant posting weaker-than-expected fourth quarter results. they missed an revenue and earnings. the outlook was a little underwhelming to add to it. home depot says it is seeing slowing growth in the housing metrics, that is their words. good news, bad news from automaker fiat chrysler. on the bad side the company says it will cut nearly 1400 jobs at an assembly plant in illinois where it builds the jeep cherokee s is uv. it is eliminating one of three shifts. on good side, it will invest four 1/2 billion dollars in five plants, creating 6500 jobs in michigan, a new assembly plant in detroit. good news for that city. etsy, arts and craft site is on a roll. shares up more than 16% darks after blowing out earnings in the latest report. the revenue up 46%
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year-over-year. the company sales, the company says sales have been helped by improved selling platform. competitive shipping prices, by the way, the active, number of active sellers growing 10% year-over-year. big day for etsy. that is a favorite of yours, connell. back to you. connell: know me so well. thanks, ash. melissa: i love etsy. fed chairman jerome powell facing tough questions from lawmakers today including 2020 hopeful senator elizabeth warren. edward lawrence with the latest on capitol hill. reporter: fed chair jerome powell defending rate hikes at end of last year and current monetary policy in front. senate banking committee. chairman powell stresses patience going forward with anymore rate hikes in a holding pattern for right now until at least inflation shows. >> in typical downturn, odds are much higher we'll wind up back at the zero lower bound again.
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inflation expectations are most important driver of actual inflation. reporter: the fed predicts inflation just under the 2% target range. there were political points in the hearing today. senator elizabeth warren grilling jerome powell, the fact since 2006, there have been zero bank mergers that have been denied by federal reserve. 3,000 went through. he said they get together with banks before submission is made, before public comment to see if it will go through. >> question i have about the suntrust and bb&t merger. is this one just going to be another rubberstamp? you already made the decision behind closed doors before the public gets a chance to weigh. >> no, not at all. no. we're going to conduct a very fair and open transparent process. reporter: senator warren running
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for president in 2020. the chairman is happy with a larger balance sheet going forward. because banks are holding more reserves they need a larger bank sheet. looking when to see they end the roleoff period of that balance sheet. other fed presidents said that could happen by the end. year. melissa. melissa: edward lawrence, thank you. connell: let's bring in the market panel. gary kaltbaum, also joined by liz peek columnist. both gary and liz are fox news contributors and on the fed, gary, i chuckle, i always love getting gary worked up on all fed matters. >> i love them. connell: thanks for joining us. this is a very patient man jay powell the man we're dealing with, just about everybody thinks he will not be losing his patience anytime soon. i guess we're set up, for what we're set up for, what do you think? >> well i just think that he knew how unpopular he was on wall street. and he had change his stance on
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january 4th. you see what the market has done since. human nature, i did something that is working. we'll keep with it. he told the market, if the markets go down again, i think it will be ready to lower interest rates. connell: right. >> so i think we have a backstop here. and, it has been working for 10 years. until it stops working, you go with it. connell: data from cme group, liz, shows there is 98% chance interest rates are at or below to gary's point at current levels. as at least of december 29th meeting f the fed is a known, i guess we're waiting for clarity on these china talks after the president getting done with the summit in, with the north korean leader at this point? >> i think so but look, i think that powell did not make a change of direction because it was politically unpopular. i think he made a change in direction because the data began so soften. it softened partly because of a downturn overseas. we had global synchronized
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growth through most of last year. all of sudden china began to falter, on heels of that, europe went into the tank. so, i mean i think powell actually has done about the right thing. i think he was, i thought he was too aggressive raising rates last fall. i think patience is exactly the right thing. the big question mark about fed policy is really balance sheet management, something they didn't even talk about much last year. now it has gotten more focus. we've never been in this position before. we really don't know how this is going to impact markets or impact demand. so i, you know, i think there is a lot to talk about. i think he has any new information to shed what the economy is going to look like in three months or six months. melissa: to another major hearing on capitol hill. top farm that ceos appearing in front of the senate finance committee debating skyrocketing drug prices. hillary vaughn has the latest. reporter: melissa, seven ceos
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telling lawmakers they that will they drop prices with drugmakers. senator accuse drugmakers raising prices, accepting government handouts and in turn ripping off patients at the counter by hiking prices. >> if the taxpayer is paying that money for something which over-the-counter is 200 bucks a month and we're paying $2600 a month, it is almost as if the taxpayer has stupid written on their face. >> i think you charge more here because you can and american taxpayers are subsidizing all of you to be able to have incredibly high profits. reporter: executives from pfizer, johnson & johnson, bristol-meyers and other companies actually agreed they too are concerned about high prices but they say it is up to congress to fix it. they want the government to get rid of rebates. the middleman that negotiates supply between drugmakers,
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insurers, pharmacies are scooping up savings that should be passed down to consumers. >> no one company can unilaterally lower list prices without running into financial and operating disadvantages that make it impossible to do that. >> nobody in the system can do anything, can fix it by themselves. the government has to stop up and change the rules. rebates have to go. reporter: only one company at the table says they have taken advantages of tax cuts in the u.s. and passed them down to consumers. pfizer's ceo warned investors high prices will not be driving revenue growth at their company moving forward, telling lawmakers he wants to set a tone in the industry starting at the top. melissa. melissa: hillary, thank you. the panel is back now to react. gary, they're not even speaking the truth as they all sit there you heard them talk about the list prices. you know who only person pays the list price? it is the government in the form of medicare, when you have a
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patient in the hospital or somewhere elsewhere medicare is footing the whole bill. thefys that are asking the questions are the ones causing the problem. they're not even being honest what is really going on there. how do we ever fix this? >> look, there is enough to go around on this, when you have the government involved in any businesses, things get complex. the way i look at it at this point, they're in the cross-hairs now, the drug companies because this is now getting bipartisan. when you do have complex and byzantine pricing, when you can go to canada pay half the price, there may be some repercussions. message to the drug companies, if they don't come up with answers, guess what, government will and they probably won't like it. so they better get cracking on this at this point in time. look, when we get our little insurance bills and we see something paid for and then there is writeoff, this and that, einstein can't even figure some of this stuff out.
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they will have to fix that up or else. melissa: liz, all this fake pricing where the consumer who is having the surgery or getting the medicine has no idea what it really costs them, who got what along the way, what welfare is going on here and there, whether it is corporations, drugmaker, it's the hospital, it's paid for in part in taxpayer dollars. we need to get the manufacturers and the consumer back together. for the market to work. >> i totally agree, melissa, here is the thing. it is not just drug prices. our entire health care system is riddled with confusion, duplicative actions, et cetera. because the government has such a large role in it, it takes something like literally 13 years to make a change in medicare. it's a mess. tell you what, republicans are missing the boat here. this is something that concerns every american and also particularly every older american. traditional republican voters f they don't begin to attack the cost of health care right from
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this sort of bones of it, that is how to works, how people are paid, all that interference you're talking about, they will be looking at medicare for all, and this is serious thing i think republicans have to address. melissa: gary, liz, thank you. >> thank you. connell: face-to-face on the world stage, once again president trump on the ground now in vietnam ahead after second is historic summit with north korean leader kim jong-un. what the-stakes meeting could mean for the denuclearization of the rogue regime. melissa: taking on the commander-in-chief. the house is debating a measure to overturn president trump's declaration of a national emergency at the border. the latest from capitol hill coming up. connell: holding elon musk accountable. why the sec is calling on a federal judge to hold the tesla ceo in contempt. ♪
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connell: big obstacles after a big welcome. president trump and kim kim -- kim jong-un arriving in vietnam hours apart for their second face-to-face meeting john roberts joins us from there with the very latest. john. reporter: connell, good morning to you have vietnam. president trump and kim jong-un from north korea arriving within a couple hours of each other but very different fashion. president trump flying halfway around the world. kim taking a train from pongyong to the china-vietnam border and taking a motorcade the rest of the way. president trump has a one-on-one meeting with vietnam's president. he will meet with the prime minister this afternoon. then tonight begin as serious of meetings with the north korean leader. president has a short one-on-one meeting with him, in the
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6:00 hour. what is billed as social dinner, joining the president will be secretary of state mike pompeo and acting chief of staff mick mulvaney. the big question this week, kim any closer than he has been to making good on his pledge from singapore to begin dismantling his nuclear program? pressure is building on president trump from both sides of the congressional aisle to get kim to do that this beak. listen here. >> his goal should be complete, verifiable, and irreversible denuclearization of korea. an agreement that includes significant sanctions relief, in exchange for something short of that will be woefully insufficient? >> we need a clear, concrete road map to complete, verifiable, irreversible denuclearization. what the united states must do, apply our pressure, every bit of maximum pressure, make sure that north korea doesn't do for what they have done for decades, give a little, get a light.
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reporter: very little daylight there between republicans and democrats on this particular issue. there is some concern within the administration that the whole idea of denuclearization has somehow become a negotiating point when it should be a absolutely non-negotiable item and that the united states seems to be on a path to give concessions to kim to move him down a road he said he was going to go down anyways. president trump is saying insisting sanctions from united states will stay on and our allies will stay on north korea until kim at least begins the process of verifiable, irreversible and complete denuclearization. kim is absolutely anxious though to get out from under meeting the sanctions. it will put pressure on president trump to week to try to do that. there are north korean experts in the united states who believe that some sort of success has already been baked into the summit cake here. the two leaders wouldn't agree to meet unless they could declare some sort of success at the end of the process at the end of the week, that that
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definition of success at least this week, will likely fall short of complete denuclearization. we'll find out in next couple days. connell: john roberts from hanoi. melissa. melissa: we have senior fellow former assistant secretary of defense. thanks for joining us. seems like the proposition before kim jong-un is very straightforward. what will keep him in power, hanging on to his nukes or much better economics for his country? is this simplifying it too much? is that kind of like what the choice comes down to? >> well, yes in a way but he doesn't want it that way, he wants both, right? wouldn't it be great if you were north korea and keep your nukes, would keep the regime in power. could weep other potential powers infringing on your national interests and have economic prosperity? melissa, he wants both of those, he will be reluctant as people have said to give up his nuclear
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weapons. people pay attention to north korea because it has nuclear weapons. otherwise is is a third or fourth world economic power. melissa: he going to extreme, the grip you have to keep on people when you're starving them to death to stay in power at the same time rest of the world wants you to give up your nukes, that is a difficult tightrope to watch, to walk and say he is isn't able to keep both of them, could the president convince him that he is better off with economics over a, you know, overhanging on to the nuclear weapons? could he convince him he could keep power through economics? >> that is certainly possible and that is certainly our hope. this is something that has been pitched to the north koreans in the past. it necessarily hasn't been pitched to kim jong-un. it has been pitched to his father and his grandfather. they have not taken that up. it is certainly a possibility, the fact it is in vietnam, which is quite a economic, undergone a
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tremendous amount of economic development, in a country that had a war with the united states, i mean that is very symbolic. you could use that as backdrop, to see what is possible for north korea economically and relationship with the united states. melissa: do you think he let loose on the death grip and let more economics in he would get overthrown in his country. >> that is his concern, isn't it? >> what is your opinion. >> i think that is the not case. i would like to see the regime change its stripes and that is very difficult to do, it is about having at that power and the human rights situation is horrible. that is their concern that economic freedom will lead to political freedom, that will lead to change at the end of the kim regime. melissa: peter brookes, thank you. >> you're welcome. connell: while the president is away the democrats will play? house is working on a measure to
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overturn president trump's declaration of national emergency on the border. mike emanuel joins us live on that story from capitol hill. reporter: connell, good afternoon. house democrats are expected to pass the resolution in next 60 to 90 minutes, trying to drive up the vote totals hoping to block president trump's national emergency declaration. >> there is no evidence that terrorists are coming into the united states of america along our southern border. president donald trump has more stories than "harry potter" and all of them are make-believe. reporter: but a republican just back from international guard deployment at the border says he is disturbed by what he saw. >> i want to get a first-hand look, i came back very convinced this is the right thing to do. this is national emergency. it is not just a desperate immigrant but drugs and human trafficking. do we want to tackle drugs and human trafficking? i think so.
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reporter: when it get to the senate with 47 democrats, they need four republicans with a majority to pass it. at this stage sounds like they have three. maine's susan collins, alaska susan murkowski. north carolina thom tillis. earlier senate majority leader mitch mcconnell said it would come up with a vote but wouldn't handicap the outcome. >> there is cries list on the border, but seems our colleagues on the other side are in denial about that. you can't blame the president for trying to use whatever tool he thinks he has to address it. reporter: gop leaders are trying to keep defections down so president trump would still have the ability to veto it. connell? connell: mike emanuel thanks. melissa: breaking news right now. the justice department saying it will not challenge the appeals court ruling that upholds at&t's purchase of time warner. this is all according to reuters. this comes after the appeals panel rejected the case earlier today. connell: many people saw it as a
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long shot at the beginning for the government. now they will let it go i guess. ceos under pressure, maxine waters taking a the first major legislative hit against wall street. what the effort could mean for the credit industry and and for your personal data. melissa: watch out own that one. connell: we'll have that coming up. melissa: no, that is yours. sorry. go ahead. connell: not really. high-taxed state exodus? more companiesing for relief in low-taxed states. we'll talk to the former or current governor of texas, greg abbott. this is a very interesting story. he will make his case to new york city businesses to give texas a chance. how about that? melissa: i will steal your read later. ♪wa yeah, that too. i don't want any trade minimums. yeah, i totally agree, they don't have any of those. i want to know what i'm paying upfront. yes, absolutely. do you just say yes to everything? hm. well i say no to kale. mm. yeah, they say if you blanch it it's better,
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but that seems like a lot of work. no hidden fees. no platform fees. no trade minimums. and yes, it's all at one low price. td ameritrade. ♪
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connell: silicon hills, silicon prairie, those are nicknames for austin and dallas texas, that are attracting a number of major companies fleeing high-taxed states such as new york and of course california.
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governor greg abbott is here in new york trying to convince more financial firms, maybe tech firms to make their way to texas. thanks for making your way to us. thanks for coming on with us. >> my pleasure. connell: who are you meeting with? >> in new york i was invited to come meet with leaders in the financial sector, especially hedge fund managers who are very concerned about the high taxes here in new york and they wanted to learn more about how texas operates. they wanted to learn about the fact we have no income tax whatsoever. we're working in the legislature to reduce the tax burden in the state of texas. of course our regulations are very hospitable to businesses. reason why texas is number one in the nation for business and number one in the nation for new job growth because we treed businesses as they they are partners with us. connell: what pitch do you make those guys? texas no income, we get that. florida is in the same boat, some other states, nevada have
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fast job growth and similar setups to you guys. why texas over them as a hedge fund manager? >> reason is clear. i was asked this very specific question. they wanted to know why it is apple, google, the high-tech companies as well as financial companies are coming to the state of texas? like pimco announced creation of its a.i. unit that will start in austin, texas. they will give the same answer, that is because of the high-quality workforce the state of texas provides. connell: that is a good one on talent because it reminds me of the amazon story a little bit. we covered it, in depth when amazon decided it was not going to come here to new york. when it made the announcement it said it was not reopening the search. it doesn't go back to austin or dallas, two of the finalists to give them a second shot at it, at least not yet. the read on that was they could not find talent in the numbers they could say here in new york. what do you say to that?
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>> we have large numbers, i think same week amazon made its announcement we made announcement where apple was creating a massive headquarters in austin, texas where they would hiring 15,000 people to work. but we're making announcements like that on almost a monthly basis. it was a few months before oracle created a 20-acre campus. announced they were expanding more and just last week google announced they were building a 35-story building in downtown austin, they will occupy just themselves. then they announced another expansion in austin, texas. connell: you give them similar incentive packages like other places do? >> some. we don't need to offer as much because of the other benefits that we have. so basically we're paying for moving expenses. connell: interesting. before i let you go, governor, just a quick take, mike emanuel was reporting on it before our last break on the debate going on in washington over the border and it looks like the congress may say to the president, hey he
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shouldn't have declared an emergency, the president gets to veto that. where are you with that? >> we have porous border. we had more than 300,000 come over the bored in the state of texas. whether president obama, president bush, president trump, we're grappling with this problem because congress has not done the job to fix a broken immigration system and broken border. notice and until congress steps up to fix the problem, we will continue to grapple with it the way president trump is. connell: thanks for telling us about the businesses coming to texas. governor abbott. melissa: cracking down on wall street. ceos of the big three credit bureaus, experian, transunion, equifax facing tough questions on capitol hill, house democrats push for a major overhaul of the industry. listen. >> after hearing testimony from the ceo's before us, today, i am
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more concerned than ever about the state of our consumer credit reporting system. i'm troubled to the point where i do think that we need to start thinking about how we reimagine it and rebuild it from the ground. melissa: reimagine it and rebuild from the ground. those are scary phrases. this marks the first big legislative effort by congresswoman maxine waters as new head of the financial services committee. just tear them all the way down and then reimagine them from scratch. connell: this is going to be an interesting few years, i have a feeling. a nightmare on the tracks. nearly 200 passengers trapped on an amtrak train more than 30 hours! we have the status of those rescue efforts coming up for you. running on demographics. why a new article suggest that 2020 democrats might ditch their efforts in the midwestern
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states. james freeman of with the. with "the wall street journal" is on that next. [ meowing ] mittens! make it rain. [ cheering ] [ singing opera ] change the music. ♪ when i move, you move beep. beep. use the rocket. [ sputtering ] if only everything in life listened to you like your new a-class. hey mercedes. [mercedes-benz voice assistant] how can i help you? change color. make it cooler. play my music. the a-class... ♪
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melissa: the road to 2020 the battle over which demographics matter the most heats up in the race for the white house. my next guest writes in "wall street journal," who is deplorable now? democrats wonder if they still need the midwest. james freeman, "wall street journal" assistant editorial page editor and
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fox news contributor. this is a fantastic piece today in the "wall street journal." >> thank you. >> i loved it. so the basic principle is should democrats fight to get back the industrial midwest trump took from them. or should they turn efforts trying to turn out in areas where they find appeal on the coast, that type of thing? >> right. melissa: my favorite line though was, talking about trying to get the industrial midwest back, if one were to design an agenda alienate blue-collar voters in the industrial midwest, it would look a lot like the green new deal. >> yeah. melissa: if you were to trick them into doing something to totally alienate the group never get them back, to alienate them, what do you mean by that. >> in the midwest the carbon-based economy is alive and well. people are driving trucks, working in factories, they're making stuff, building stuff,
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moving stuff, that requires a lot of energy. it must sound bizarre for people to see this current discussion in the democratic party because you remember, after 2016, i thought there was recognition among lots of democrats we can't ignore the midwest. we have to figure out a way to talk to the blue-collar worker, win back pennsylvania, michigan, wisconsin. now, i think the thinking is, well, maybe progressive politics are not going to sell there. we have to figure out how to get georgia, north carolina, arizona, maybe even texas but we just heard on your show from the texas governor, i'm not sure progressism sells their either. melissa: is there awas, you know, through this far left agenda, to bring more enthusiasm and more turnout, to cobble together enough people in these other areas who might go for, you know, these progressive ideas if they were that excited? and what would you have to sprinkle on top of that to make it work? because those probably wouldn't
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be enough numbers but would you have more. what else would you need? >> well, a big part of it has to be an absolutely overwhelming win and turnout among minorities. this is the other part of the challenge with their strategy is that donald trump is not as unpopular among hispanic voters as a lot of people in the media seem to think he should be. as you recall he actually exceeded the performance of mitt romney as a presidential candidate and since then we've seen a number of polls where he is actually racking up 40%, even close to 50 in some surveys. that is really, i think an issue that might have democrats once again thinking maybe they shouldn't deplore everyone in the midwest or many people as hillary did in 2016. melissa: real quick, what is that all about? why do you think he is getting -- he supposedly a racist demagogue. how is he getting more hispanics on board?
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>> i guess the short answer is that thriving economy is good for everybody. it is pro-growth economics works no matter who you are, where you come from but i think it is also that there is a, maybe a recognition that while you might agree with him or not agree with him the idea of enforcing a border is, and enforcing u.s. law is an idea actually has a fair amount of appeal across demographic groups. melissa: maybe if you came from somewhere lawless, you came here because it had laws. there is logic to that. >> maybe. melissa: thank you. >> thanks. connell: this idea of holding elon musk in contempt, that is what the sec is asking a judge to do for violating its settlement deal. what does it all mean for the future of tesla? ♪ it's the first truck i've seen make you look small.
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that's where i feel normal. having an annuity tells me my retirement is protected. learn more at retire your risk dot org. >> weight watchers shares tanking in after-hours trading following a profit drop with quote a soft start to 2019, saying the company would add fewers members this year. oprah winfrey who has a 8% stake will play a central role in the upcoming tv and digital marketing campaign for spring. that should be good. connell: quite a hit for the stock. time for elon musk to clear his name. the federal judge giving the tesla ceo until march 11th to explain why he should not be held in contempt for violating a settlement agreement with the
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sec. gary gastelu, automotive editor. elon musk was supposed to get tweets preapproved so he violated the agreement i guess? >> he posted a tweet and tesla corrected it after reviewing it, which suggested he shouldn't tweet in the first place. they're going after him for not having pre-oversight he agreed to. connell: how will the sec deal with a guy like musk, you know the product, take elon musk out of tessa the stock would probably tank, right? set guy for the company, don't you think? >> if he is not running the company it's a very different company. it's a mission for him, somebody else would say we could do it differently, maybe not sell a million cars a year like he is aiming to do. connell: if you're the sec i'm not suggesting they need to take it into consideration when they look at it, you definitely don't want to hurt shareholders in a company. >> that is 55 billion-dollar
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company. connell: if you punish it too much, you will essentially hurt the shareholders rather than protect them. i don't know what the line or balance is and wonder whether they consider that? >> taking away ability to tweet, he is the hype machine for the company. he doesn't pay for advertising. his 24 million followers are the advertising. if you put a chill on that you have to find a new way to promote this company as well. that is that aspect of it. you take him out of the ceo seat he is still the major shareholder, someone else is the running company. the company won't die. maybe could change the focus, do high-end cars but not do mass market vehicles he is trying to do. who knows what somebody else might come up with. depend what is happens. if nothing else he gets fined again, that is expensive. it was $40 million between him and tesla. more this time around for violating agreement if that is what the judge decides. connell: i think they have to do something. thank you, gary gastelu. melissa: nearly 200 amtrak
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passengers trapped on a train for more than 36 hours in rural oregon. we'll have the latest where the travelers are heading now. ♪ you're here to buy a used car, truck, suv. that's smart. truecar can help. it's great for finding a new car, but you already knew that. it's also great for finding the perfect used car. you'll see what a fair price is and you can connect with a truecar certified dealer. so no matter what you're looking for, there it is. this is how buying a used car should be.
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melissa: stuck for more than an entire day, can you imagine? 183 passengers on an amtrak train traveling from seattle to los angeles were stranded in rural oregon after hitting a tree, leaving travelers frustrated and hungry. dan springer in seattle with the details. dan? the. reporter: you know what this means we can't delay with our flights delayed couple hours. this is travel nightmare they won't soon forget. they started the journey in seattle sunday morning, it was 50 hours stuck on the train. couple hours ago the amtrak
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train slowly pulled into the station in eugene. very relieved passengers started getting off the train. there they were greeted by a bunch of reporters, even the red cross which had food and drinks waiting. plan to stay in eugene to restock the train, continue north up to portland, eventually all the way back to seattle where the i ill-fated journey. the problem was a major snowstorm hit sunday and heavy snow caused trees to snap under the weight. one of the trees fell on to the tracks in oak ridge, or gone, 40 miles southeast of eugene. 6:00 the train ran into the tree, there it sat for 37 hours. the crew tried to fix the damage but could not. union pacific, which owned the tracks, had to clear them enough to get a rescue locomotive to it. that finally happened this morning. it was another four hour journey back to eugene where passengers
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were in pretty good spirits when they got off the train. >> i only packed five diapers. luckily a really nice lady came in and gave me pullups because i didn't know what i was going to do. >> the crew was exhausted but they treated us very well. and we were warm. reporter: really good news in all of this, no injuries or sickness on board. amtrak pout put out a statement, regrets the extended delay, defended decision to leave passengers on the train. the problem the whole town of oak ridge was without power. it got over a foot of snow. the entire town was dark. amtrak says, that passengers will get a full refund and other compensation that is appropriate. how do you get 2 1/2 days of your life back on a train? melissa: there is no such thing appropriate compensation for that no. dan springer, wow. we won't complain about our
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trips. thank you. connell: i thought it was a bad story. then they get a full refund. that is not a problem at at all. melissa: that fixes it. connell: all fixed. president trump and his meeting with kim jong-un, what can we actually expect? will he be the deal-maker in chief? is that a good thing? gordon chang next. ♪ one of 10,000 local allstate agents knows yours. now that you know the truth, are you in good hands? metastatic breast cancer is relentless, but i'm relentless too. mbc doesn't take a day off, and neither will i. i treat my mbc with everyday verzenio, the only one of its kind that can be taken every day. verzenio is the only cdk4 & 6 inhibitor approved with hormonal therapy that can be taken every day for post menopausal women with hr+, her2 negative mbc. verzenio plus an ai helped women have significantly
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connell: taking on the world stage president trump getting set to meet with kim jong-un for
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the second time just days after he suggested a possible signing summit might be on the way with chinese president xi jinping. can the commander in chief strike two separate deals, should he? we're joined by gordon chang. let me ask you about the two at once, from u.s. point of view, bigger risk looking to north korea and china not getting a deal in either case or both. or getting a bad deal? >> bigger risk is a bad deal, we americans think if you have a problem with another country you just have an agreement, maybe that is true if you are dealing with a liberal democratic state like canada but when you deal with hard-line communist regime, no. america should use its leverage to make sure they do what we want them to do, that they have
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no choice but be responsible. connell: north korea, with is the issue that you see. short-term? >> i think biggest risk is this peace declaration on end korean war, when north koreans, they are involved in their winter training cycle right now. and i think we probably could end up in a bad place, because south korea is vital to our defensis. connell: don't run into an agreement just to say you have it. to me, china is a little different. if we don't get a deal, put something in place, the tariffs that are already there will stay or be enclosed. whereas with north korea if we strength things along it does not hurt us economically,y week be shooting ours in the foot -- ourselves in the foot.
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>> we already are ashooting ourselves in the foot, allowing chinese to steal intellectual property. they are going after the heart of our economy. which is up no -- innovation. connell: you don't want to make a bad deal with china. but you want to keep the tariffs in place. >> this is going to cost us. you cannot maintain bad trade policies over the course of many decades and expect we'll get out of this scot-free. connell: all right. make the sacrifice and make the case to the american people is your argument thank you gordon. >> thank you. connell: should be an interesting week. melissa: a lot people sending advice to the president, not sure in he does not appreciate a lot of it. connell: right that has been his argument, you have years to try
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to with nothing done. >> not gordon chang. melissa: we'll see what happens. that is it for usism we'l. >> we'll see what happens, thank you, bulls and bears, starts right now. david: congresswoman alexandria ocasio-cortez says she is the boss when it comes to the green new deal, she may not want to own it when she sees latest estimate on how much it will cost the taxpayer. here to weigh in on this and more, liz claman, and jonathan hoenig. we bring in doug egan, you have been crunching numbers for a while, green deal would cost $93 trillion, that is high-end. when all said and done. how do you arrive at that figure? >> we took the new green deal seriously, as a policy


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