tv Making Money With Charles Payne FOX Business April 4, 2019 2:00pm-3:00pm EDT
in that hour we'll have a big meeting in the oval office between the president and the vice premier of china, lead trade he negotiator liu he. that is aarp 4:00 p.m. eastern time. that is "cavuto: coast to coast." i'm connell filling in for neil. here is charles. charles: this is "making money." lot of breaking news. market plea -- meandering ahead of tomorrow's jobs report. profit-taking in the technology area pressuring nasdaq. wall street trying to contain its excitement. many see a trade deal with china betting a boost from president trump with the vice premier at the white house. we will have a preview. shares of tesla sinking, production far below of what he
needs to make a million cars a year. he fights the sec over his tweets. we're live from the courthouse in a moment. president trump set to nominate herman cain for a seat on the federal reserve board, pending the clearing process. that process focused more on steve moore's skeletons than his qualifications. we'll have the latest announcement and a whole lot more on "making money." ♪ charles: breaking right now, a federal judge is about to hear oral arguments about whether tesla ceo elon musk should be held in contempt of court for violating an agreement with the sec. the securities & exchange commission saying musk violated the settlement terms having to get his tweets preapproved he posted this tweet you're looking at in february. kristina partsinevelos is outside of the courthouse with the latest. kristina? reporter: what we know right now is about 20 minutes ago musk showed up.
there were two teslas, one black, one white pulled up. musk came out. we weren't sure whether he would show up or not. i got are right in. how he is feeling? does he think anything is going to happen? listen to his comments. >> i have great respect for the judges, the justice system. i think the judges in the american system are outstanding. reporter: sew says that respects the justice system. we know in the past he says he does not respect the sec. he said that in a "60 minutes" interview. the debate today will focus whether he is in contempt for the tweet, charles, that you mentioned this is settlement that happened between the sec and elon musk. a previous tweet misled investors about taking company in private. he had to pay $20 million in fines. tesla had to pay $20 million. he had to step down as chairman of the company for three years. most important, that is why
we're here today, had to get communications from tesla preapproved. this tweet was not preapproved. in musk's defense, his team hayes the tweet is not material it was discussed on earnings report, discussed on a conference call. the second point musk is arguing this is infringing on his freedom of speech. there are several likely out comes. the court will not rule or no decision made, should there be opportunity there is three out comes. first one they rule with the sec that musk could face hefty fines. or they rule in favor of elon musk, which means it's a win for him. last but not least, they scrap the settlement, start back at zero in terms of improving the wording. i will head in and listen in the court case that starts at 2:00 p.m. charles: we'll catch up with you later. joining us constitutional attorney jenna ellis.
you heard elon musk, the attorneys are saying that the securities & exchange commission is actually violating his first amendment rights to free speech. are they right? >> not at all. so the sec even though it's a government agency entered into an agreement with musk and so when he was party to that agreement and he said on, in order to resolve this legal issue i am going to agree to have my tweets preapproved. that is taking his freedom of speech and first amendment claim off the table. i don't see that being successful in court today. charles: what about the other part? what he did tweet about was already mentioned on a conference call? it was not necessarily anything secretive, there for, what's the big deal? >> that may be a better argument for him. when we talk about materiality under the law particularly in a securities context, the legal analysis is whether or not a reasonable shareholder would have substantial likelihood of having this information affect how they vote or how they invest
their money. when we're looking at materiality, not necessary just that it was secretive, but whether or not his tweet caused a reasonable shareholder which is an objective standard, charles, to make a decision one way or another. so even though he may have that argument again, because he entered into this agreement he was part of this particular, settlement of the legal issue. i don't see him being successful based on what tesla has said that comported exactly with what he tweeted. so unfortunately for muck, i think probably likely outcome he will be held in contempt of court, but what the sanctions are, that is what remains to be seen. charles: general in, we'll talk to you later. we have more constitutional issues for you. >> sounds good. charles: after the company said it would produce, only 77,000 vehicles in the first quarter. it is so far behind its pace to fulfill musk's pledge, remember
he said, half a million cars every year. want to bring in scott martin, cio kingsview asset management. they call it descending triangles. in the past held $260 point made pretty strong rebound. where is this as an investor? has the magic worn off what do you think? >> i think the magic is getting tested let's say, charles. whether it is musk's antics, or frankly as you point out fundamentals of the company with regard to sales seem to be fraying a little bit. you made a good point as far as trading it i think it is potential opportunity, like breakout level you mentioned a couple years ago, you mentioned 250, 260 being another floor as it has been in the stock. maybe that place you would accrue. you have to have a quick trigger on this thing, gets above 300,
320, as seems recently that would be area to sell. charles: musk was way ahead of everyone. he has been label ad visionary. certainly been very successful. almost every other day we read large automakers committing serious money to electric vehicles, they're trying to get standards together, what does he have to do at this point to really distinguish this company more than it has been distinguished from the pack in the past? >> yeah i think you make a good point, charles. i think the rest of the group is catching up if you're an individual investor sitting at home, what do i do here, maybe i take interest in tesla, for us we wouldn't touch the stock if we were joe biden for example. i think there is just too much risk, my friend, just in tesla, yes, their business model but elon musk himself. think about if you're sitting home, charles, you're thinking about the troubles the company may be having with the latest sales numbers and you got the
ceo going to court because he can't keep his tweets in place because of facts he said about the sec or things he said about the sec it seems to be taking focus off the business. charles: if he is removed from the ceo what happens to the stock? >> i think it drops precipitously. i think the stock is paper without him. you see large shareholders having faith in elon musk. i still have a faith in him as innovator but gosh, if he can't act ceo-like, or prove for period of time to the point you made with jenna previously, agreeing to certain requirements you made with the sec, he broke what, a couple month later? seems like the company is at risk they may lose him. charles: technology in general una lot of pressure, scott. the semiconductors, i should also note, the philadelphia semiconductor index coming off an all-time high. it had a blistering pace this year. there is profit-taking today. is there something in there we should know? can we connect this to anything broader? is this perhaps overdo?
>> you point out always really good stuff. today subtly is kind of a bad day especially in techland. there are big names that have been leaders down pretty big. the work days. sales forces and those, data which is palo alto networks some of those other ones breaking out and leading are pulling back. don't worry about it too much they performed very well year-to-date but maybe precursor to a stinker of a jobs number. the bret is pretty strong. when money comes out of one sector into another reluctant to to to the sidelines, do you see that at all? >> i am. that is pretty good sign to healthy market. given some of the good news with china. if there is pullback in techland, maybe jumping over to health care, industrials meantime is not a bad thing. money will definitely come back
into that sector. charles: you're right. everyone is anxious about tomorrow's numbers. scott, thank you very much. appreciate it. >> see ya. charles: waymo, one of the big names getting into the industry with much more. self-driving taxi service has been hitting the streets of chandler, arizona, rolling out in december. our very own liz claman is live there with exclusive look inside one of the self-driving cars. liz if. liz: i'm putting my thumb out here. the proverbial thumb will be the app. this isn't will be, it is happening here in chandler, arizona. i know you know this, charles, you have passed on to your viewers what a huge developing to autonomous driving has really become. this is one of the chrysler pacificas that waymo has already on the roads. we've seen at least four of them already go by this morning here. we're parked outside the chandler library we will be taking off in the 3:00 p.m. eastern hour, live. we will show people how paying
riders are going through this. this is the driver's seat although there is no driver. there is a test driver for now, but they do not touch the steering wheel. can you see that, doug? do not touch the steering wheel. that will make the car automatically pull over. so far, they have completed more than 10 million-miles on the road. and they have also completed hundreds and hundreds of these rides. what i find really fascinating because we're a business channel is, this is already a business in that they're taking money from passengers who are signed up and paying but they're already figuring out ways to monetize the technology, not to competitors. you see these twirling things right here? this is part of the entire sensor system. this is the laser bear honeycomb. hilarious title here. but weave got, sort of the brain trust of it right here. they're already deciding how to package this and sell it to
companies who are say in the warehousing business or security business. what does it entail? hundreds of sensors, dozens in this case on the car, lots of cameras. they can anticipate just about anything. what about the facilities? not just sitting here as a car, there is a huge master control. 60,000 square foot facility employing lots of people here in chandler. they announced a new groundbreaking of one, 85,000 square feet facility. you worry about what about drivers losing their jobs, there are other jobs actually springing up here. that will be in mesa. they are announcing one in michigan. it is all going to be fascinating. we have the ceo live, first ever ride-along just in the next hour. i hope everyone joins us. it is history on television. we'll do it with waymo. back to you, charles. charles: thank you, liz. we'll preview our future. make sure you watch liz claman next hour with the ceo john
krepchic of waymo. jamie dimon sounded more like a presidential candidate than a bank ceo in the annual letter to shareholders, scolding both parties, acknowledging capitalism but acknowledging america's flaws. president trump is set to visit the southern border as he talks tough about shutting it down. next i will ask congressman andy biggs from arizona about his take. we'll be right back. ♪ ♪ ♪ i can do more to lower my a1c. because my body can still make its own insulin.
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going to close the border or i'm going to tariff the cars. charles: president trump doubling down on his threat to close the border with mexico today or he will put tariffs on cars. president trump giving mexico to address this and other good neighbor issues. homeland security secretary kirstjen nielsen visiting the border in arizona today. arizona congressman andy biggs is with me now. everyone is focused on your state with this major visit and of course the crisis. bring us where we are with the massive influx and the efforts being made by the border patrol folks? >> what you had last weekend in the yuma sector alone, one night over 1000 people were interdicted. this is indicative where we're going today. there are large groups coming together. two large caravans forming up in central america, moving through mexico. we're going to be on pace to get over a million people
apprehended this year and with that, you know, we think we're getting about 1/3 of the people coming in. that means you will have two million people that we don't apprehend. drug problem is huge. enough fentanyl has been seized in the last year, in the last six months to actually kill about half the american people. this has got to stop. it's real. the humanitarian crisis is real. and i'm glad the secretary is on the border but i'm hoping that it really spurs some action with my friend in congress. charles: president trump suggesting not just with the border issue and influx in mexico being, sort of via mexico, they're opening their southern doors, but he brought up to your point the fentanyl issue, saying hey, mexico has a year to really get this together. does that sound reasonable to you? i don't think, i know the business community is cringing, no more tariffs, no more
blockades, none of that stuff, we get there, a year seems more than reasonable to me for mexico to be a better neighbor? >> i think a year is more than enough time for mexico to show that they're serious about this, charles, because mexico has let this happen. there is a couple things we could do right now that would also help. we should declare drug cartel to be a terrorist organization. the other thing too is, we check very little, very few of the vehicles returning south to mexico. quite frankly, when you're in the drug and human trafficking trade, you're dealing in cash. that cash is going back some way. it is not going back just by means of a western union. it is going through in vehicles crossing the southern border. we could increase our customs searches on the southern border, get currency sniffing dogs. that would be helpful as well. charles: near term, how do you see this playing out? >> i see it playing out i don't think the president is going to
close the border. i think it is going to be something that congress is going to continue to ignore but i do think the american people will get fed up with it, they will cause us to take some real action. charles: wouldn't that be unique, novel? congress actually taking action. that would be fantastic. >> yes it would, golly. charles: we hope it happens because it ice human crisis and we all want it to be resolved. congressman biggs, always enjoy talking to. >> you thanks, charles. have a good one. charles: talking about full disclosure, in addition to demanding the full unredacted mueller report, democrats are working on a way to get president trump's tax returns. is this constitutional or presidential harrassment? jamie dimon outlines vision for his bank but america as a whole, warning that the american dream is fraying. that's next. ♪
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charles: we have two big stories from the world of finance today. president trump set to nominate herman cain to the federal reserve board, giving the former pizza chain executive a say on interest rates. also today, jpmorgan's jamie dimon weighed in on the current debate between capitalism and socialism in the annual letter to shareholders. the 54 page missive had a whole related issues he called some inherently flawed. he says many in ways without ill intent, many of people were able to avoid drive by many of society's problems. now they're called on to do more. the question can they, should they, will they? we have carol roth. you're adamant defender of capitalism. what did you make of jamie dimon's letter?
>> i thought jamie dimon's letter was fascinating. it read to me as part shareholder letter, part candidate application almost. it seemed like he was getting ready to run for president. i don't think he will actually do that but he spent a lot of time talking about the public policy ills that we have, everything from capitalism versus socialism to student debt to infrastructure, to excessive regulation and laid out potential solutions. while i didn't agree with everything he said especially on his take on capitalism versus social programs i thought it was just a very interesting take and certainly a must read as his letter always is. charles: what thing didn't you agree with? what part bothered you? >> he had too much reliance on central planning and social programs. certainly social safety net makes sense to some extent but he didn't really get into the difference between centrally-planned economies and socialism.
and the fact that the government is never an efficient allocator of resources. everything the government has been involved in has gotten screwed up. he did acknowledge that, but he seems to think, we're going to in the words of milton friedman, we'll have angels to organize society for us which we know will never happen. charles: he also seemed to me saying hey, aoc may be on to something. many countries are called social democracies successfully combining market economies with strong social safety nets. he seemed to sort of give the scandinavian model thumbs up. >> if you look, first they are not socialist countries as you said. they have social programs. a lot of them are looking moving away from certain aspects of it. if you look across the globe from 10 centrally-planned types of social programs to free markets, every time a country move more towards free markets, whether china, india, some of the scandinavian countries they prosper more.
ones move toward central planning we see stagnation in some european countries they don't. i don't think there is enough credence to the fact this doesn't work when you go towards the social models and the government is not the answer to every problem. charles: carol, let me jump n we have 30 seconds, your quick thoughts on herman cain as member of the federal reserve? >> very interesting. he is an advocate for the gold standard. he has a background in the kansas city fed. he has actual business experience. my one question will he stick to his guns? will he be independent? or will he be more political being appointed potentially by donald trump. charles: right. >> would love to see return to the gold standard, charles. charles: right. jamie dimon said america always had its flaws. some people will quibble, we have more than flaws in the past. he may, it is okay to use a stronger word sometime. carol, we always appreciate your thoughts. thank you very much. >> take care, charles. charles: so details being released in the divorce settlement involving the richest
man in the world. the ex-wife of amazon founder and ceo jeff bezos says she will give 75% of their stake in the company, all voting rights to her now ex-husband. mckenzie bezos will also real link wish all interest in the "washington post" and rocket company blue origin. she tweeted her thanks to everyone for their support. grateful to finish process dissolving my marriage to jeff with support for each other and everyone that reached out to us in kindness, look forward to the next phase as coparents and friends. amazon shares down slightly. other stocks only down two bucks. we're two hours away from president trump's meeting with the chinese vice premier. we'll have latest on trade talks coming up. democrats say vital information for the american people while republicans accusing democrats of weaponizing the irs. latest in the battle for president trump's tax returns right after this.
then i can focus on what i want to do. visit learnfuturestoday.com to see what adding futures can do for you. ♪ charles: welcome back. stocks marking time right now, awaiting huge news on jobs tomorrow and a possible trade deal to keep this monumental 2019 rally going. keep in mind the s&p 500 on track for the 6th win in a row. big wave of profit-taking in technology stocks today but facebook, bucking the trend, getting another big wall street upgrade today. this comes, in the face of new scandals for the social media giant as researchers uncover more instances of the user data being publicly exposed on the internet. after the unveiling of snap gains, all new real time gaming platform. it will feature both original and third party games, giving that stock a little boost.
target raising minimum wage for workers for 30 time in two years. hourly wages starting at $13 from $12 starting in june. target hopes to have the minimum wage up to 15 bucks by end of next year. folks, that is called market forces. president trump calling on democrats for asking irs to provide six years of his tax returns and demanding the full release of mueller report. president tweeting, there is nothing we could ever give to the democrats to make them happy. this is the highest level of presidential harrassment in the history of our country. trump 2020 advisory board member, madison guess. vital information for the american public, more presidential harrassment? >> absolutely presidential harrassment. congress has to have a legitimate legislative reason to request tax documents. i don't know about you, i
haven't seen any evidence or legitimate accusations when it comes to the president's tax returns. i think ultimately will backfire to the democrats. this takes away from time they have to actually legislate to create policies and laws that affect the lives of american people in positive way. people are frustrated with this. charles: rashad. >> they actually don't need a legislative reason to request it. if you look -- >> they need a legitimate reason. >> excuse me, madam, i'm finishing thought here. i allowed to you finish yours. according to the tax section 6103-if-1, certain committees of congress can request the president's tax records. they must request and review them in private. after they review them in private, if they find a legitimate legislative reason to reveal them to the public, they can. the supreme court has already ruled in united states versus watkins that congress cannot expose for the sake of exposure. so that law already has been settled. >> a shad, why are they asking
for them though? is there something to do with his presidency they think they can glean from these things? >> yeah, i believe there is a political answer and also a government oversight answer. there is legitimate concern by members on the left and also members on the right of the u.s. congress, they are concerned about possible connections between president trump and foreign entities, the fact that he never divested in his for-profit companies, gives congress a reason to request under the legal statute his tax returns. as i said before, they cannot reveal them to the public unless they find some there there. charles: jenna, let me come to you on the constitutionality of all of this where do you think it is going to go legally? >> yeah. i would agree this is absolutely presidential harrassment. there is no legitimate reason for congress to ask for that, nor for the democrats to call for all presidential candidates to have to release their tax returns. from a constitutional standpoint
the states govern the presidential elections period. so congress and federal government does not have control over the criteria upon which candidates can run for president or be elected. that is a matter of federalism. for congress on either side, doesn't matter, democrat or republican, it should not be up to congress at all to determine that criteria. so i think this is just about targeting one individual candidate that the democrats didn't like. this is the same thing they're trying to do, change the rules for abolishing the electoral college, lowering the minimum voting age, packing the supreme court, all of these things the democrats are trying to do simply because they don't like the fact that donald trump was elected president. charles: madison, how confident are you that if this happens, you know, to rashad's point, whether there is anything that is even akin to smoking gun, the public will get all kinds of leaks and hear all kinds of information and it will feel like a smear campaign? >> yeah it already feels like a smear campaign now. we just spent almost two years
with a special investigation. the democrats went on and on how much faith they have in robert mueller, how he will come to the conclusion there was potentially russian collusion. there is no russian collusion. there is no indictment specifically against the president or anyone in his campaign with regarding to russian collusion. requesting tax documents some would say making sure he is not colluding with russia is absolutely ridiculous. charles: so, rashad, are you confident that, listen when you say they, they can't release it to the public unless there is something in there, you know, isn't it a foregone conclusion what's in there they will make it, it will rise to the level of whatever is next step to get this public? >> to your point, charles, this is a hyper political environment. there is absolutely no doubt in my mind that if reviewed by the appropriate members of congress, this will either come out through a full disclosure or through leaks. i have no doubt whatsoever but following the actual standard of
law, congress has the constitutional authority for oversight and they have the legal clearance through the irs code to do so. charles: all right. irs, we already went through the irs being weaponized once. the american public did not like it. we'll see what happens. thank you very much. madison, rashad, jenna. we appreciate the conversation. trade talks with china changing venues this afternoon. as the vice premier heads to the white house. we'll have breaking details for you next. i'm working to keep the fire going for another 150 years. ♪
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charles: headway continuing to be made in the latest round of trade talks between the united states and china. this ahead of president trump's meeting with chinese vice premier liu. here with the latest, edward lawrence. reporter: very good indications, charles, coming from the meetings. this is the motorcade that the vice premier is using, bulletproof cars. the secretary arrived in one of these cars. they're going inside to try to finish the trade talks. this morning all smiles when the vice premier arrived here at the
u.s. trade representatives office. he was greeted by treasury secretary steve mnuchin as well as u.s. trade representative robert lighthizer that is the first time the treasury secretary has been here in order to shake hands. the atmosphere is more positive than i've seen in all nine rounds of the talks that i have covered here. according to the u.s. chamber commerce official, we're at final stretch of all of this. in about two hours, as you know the vice premier would be in the oval office to meet with president donald trump. president trump said he would not make any announcements but he said he would not sign a bad deal. >> it is going very well. top officials are here. we're well along on the deal. it is very complex deal. very big deal. one of the biggest deals ever made. maybe one of the biggest deals ever made. it will be a great deal for tour farmers. reporter: u.s. trade representatives office is preparing for another round ever meetings tomorrow, extending the visit. these were unscheduled meetings.
the main sticking point seems mechanism around enforcement. the chinese would like tariffs gone right now, never to return. the u.s. wants to keep some of those tariffs in place and reimpose tariffs if the chinese break the agreement. they want to make sure they follow through. charles? charles: edward, thank you very much. here to discuss all of this michael o'keefe, moneymap press chief investment strategist, keith fitz gerald. keith, let me talk to you. you spend a lot of time in the region than most folks i know. feels like wall street doesn't want to get too giddiness over the potential deal, the more cool we feel like wall street is is. i don't know what that is all about. feels like it will happen soon, right? >> my take a deal would be lot closer than you think. the fact we have senior officials glad-handing, now shaking hands, tell meese there is awful lot of progress.
the chinese prize relentlessness. the west prioritizes results. the fact you have senior people linking hands. that tells me they're very close to working those things out. charles: michael, how do you see it? >> same thing. basically what we're seeing a lot of progress, a lot of positive signals and your point about the markets reaction in some ways that positivetive is baked in a little bit. charles: to that point, let me ask you, michael, the last couple weeks i'm starting to sense whatever the anxiety coming into the new year, if you look at bond yields rebounding, gold starting to pull back a little bit, markets are up, even session like today tech is getting hit, money doesn't rotate into the sidelines or rotate into industrials. it rotates into financials. seems like investors and money itself seeking opportunity, sensing we could go higher from here. >> higher from here. that is our outlook. modestly higher. maybe some volatility.
to your point, one. things i did recently look for entire market, look for pockets of weakness and how broad-based the rally has been. it is very broad-based. charles: over 450 winners out s&p 500. i think 100 names, 150 names up 20%. 300 names. the numbers are mind-boggling. you don't think it will narrow at although? the leadership as the market becomes extended and people worry about valuations it won't start to funnel like it did at the last part, only six or eight names that were up every day? >> i guess the way to think about it is rotation. is there a chance of that? of course there is. one of the things we've been talking about, taking this opportunity to start to build towards defensive positions. so anticipate, for example, rotation into more defensive sectors. charles: does that mean financials? would that qualify? >> yes. charles: okay. >> we would say durables, utilities, financials. charles: we're starting to kind of see that here. you know, keith, another interesting aspect for me with
this market is that the juxtaposition against the economy. we got the big jobs report out tomorrow. this morning we heard initial jobless claims at lowest level since early december, 1969. yet we had disappointing adp report. last jobs report only 20,000. is this reflection of an economy slowing or economy where we have got full employment? >> that is the trillion dollar question, right? i am of a belief we have fuller employment that people think. i am of the belief the data is possibly flawed or definitely flawed. so i'm looking to the upside. lime looking for quality companies. i'm concerned narrowing is here because this situation market trying to get ahead of itself, trying to anticipate something like the chinese deal. i wonder if we sell off, to our guests point, have volatility, then we're off to the races. >> real quick, michael, your thoughts on tomorrow's jobs report? if it is good news, will the good news be good news from here
on out? >> employment, jobs, it is all very positive at this point. charles: even if it's a lower number you're not concerned about that? >> i'm not concerned. to your point, right, we're late cycle. the engine in some ways is running very effectively. hard sometimes to get better than that. where re with pretty good. charles: i want to see participation improve. i want to see the wages, man, wages have been beautiful. thank you very much, appreciate it. michael, keith. coming up as the ncaa prepares to crown a champion from its billion dollar tournament a major court ruling on college athletes betting compensated. what a federal judge says some players can now receive next. ♪
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charles: a federal judge has ruled that the ncaa cannot limit a college athlete's compensation as long as it quote, relates to education. ncaa president says the judge's decision in a federal antitrust lawsuit reinforces college athletes should be treated as students, not employees. quote, college sports is about student athletes playing student athletes, and not employees playing employees. here to break it down, what this ruling means for college athletes, fox nation host britt mchenry. that was sort of gibberish to me, but we are in the midst of a tournament that the ncaa will make $1 billion from and some people are saying it's time for somehow, for these kids who are playing to get a piece of the action. >> yeah. that ruling, while it is a step in the right direction, is really throwing a bone without giving anyone the full meal here. i really like iowa junior guard
bohannon's tweet, he was so upset because people were forced to bring cups out and ncaa gear out that he took a rug in the locker room and said let players make money off their likeness and autograph, we will give you your rug back. he was forced by the university and i believe the ncaa to walk that back. i'm a strong proponent of representative mark walker who introduced legislation to amend the tax code so that at least students can make money off their very own name. every other occupation, you can do this. charles: for years, the counterargument was that well, these kids are getting an education. i can remember, you are too young to know this, dexter manley, i think he went to college for maybe even four years and couldn't read or write. it was a little specious at the time. they have done a better job, i think, with actually giving these kids an education, but at this point with the millions,
even billions of dollars involved, is it really equal? >> i don't think it is. look, you can have your own personal thoughts about johnny manziel. his heisman-winning year, in one month alone, he made the school bookstore $1 million off his jersey. think about that money. the fab five, chris weber, jalen rose, you -- charles: you don't go back that far. >> i do a little bit. they said we walk down michigan avenue and saw our names, everything related to us on storefronts and we couldn't make a dime. i'm not saying you have to pay the kids but why is university of alabama coaches are getting bonuses for winning the championship, the special teams coach getting $53,000 but you can't let kids make money off their own name? why? what's the counterargument? charles: again, lot of people will say it ruins -- >> integrity of the game. you know what the integrity is?
$1.32 billion that cbs and turner made off this tournament. but you can't let the kids make money off their name? charles: sports in general, the numbers have gone through the roof. they are mind-boggling, these numbers. i have lost track. there are pros and cons. some people think maybe a kid is looking at this like why in the hell would i want to become an accountant. feels like in our society, so many young folks think the only way out is one of these $30 million a year contracts. >> it's not. in unrelated news, the death of the rapper this week, nipsey hustle, there are ways to give back to your community, art, media, education, s.t.e.m.s programs. charles: he was trying some brilliant things. even the community, to eat better. i got one second. who's going to win? >> i'm going with the underdog,
texas tech beat michigan state. i love to silence spartan fans. sorry if you're one. xz charles: we are near the highs of the session. time to buckle up for your final hour. liz claman is live in chandler with automated technology. liz: like you have never seen before. we are about to make television history. in this hour, we are going to take the very first live televised ride in waymo's autonomous ride hailing vehicle with the company's ceo, john krafcik. how is this test market going? can they predict behavior, not just of the cars, but of other drivers out on the road? what about conditions, weather, anything else, emergencies. we are going to unveil this technology, tackle the controversy and the future of self-driving cars in this fox business exclusive. in the meantime, we should tell you it's actually another car-related story dominating the headlines at this hour.