tv Varney Company FOX Business April 25, 2019 9:00am-12:00pm EDT
and well, and yes, it's running strong. look at this. item one is microsoft, now valued at over $1 trillion. look at that. the stock is taking off, up nearly 5%, six bucks. it's reached $131 a share. sales up 14%, profits through the roof again and almost alone among the tech companies, microsoft has no reputational risk. watch it go. item two, facebook, gaining active daily users. 1.56 billion of them in total now. how's that for a company that's under attack for messing with your privacy? the stock is bursting out of the blocks, closing in on $200 a share. item three, amazon. they report at 4:00 eastern this afternoon but even in advance of that, the stock's powering ahead and getting pretty close to $2,000 a share. amazon following microsoft and facebook. investors clearly bullish on big tech. now look at the overall
market. the dow is heading lower, but the dow has been hurt by 3m which turned in a very negative report this morning. 3m is costing the dow 119 points so without 3m, the dow would be up. look at that nasdaq, up one-third of 1% again. that's the influence of booming big tech. one last one for you, and it's tesla. it's losing money and demand for its cars is down. the stock is heading south. yes, it is, down four bucks, $254. what is elon musk talking about? a silent leaf blower. we can all get behind that. joe biden is running. we've got the video and we've got the presidential response. "varney & company" is about to begin. i'm announcing my candidacy for president of the united
states. folks, america's an idea, an idea that's stronger than any army, bigger than any ocean, more powerful than any dictator or tyrant. it gives hope to the most desperate people on earth. it guarantees that everyone is treated with dignity and gives hate no safe harbor. it instills in every person in this country the belief that no matter where you start in life, there's nothing you can't achieve if you work at it. stuart: there you have it. it's official. he launched his bid this morning with that videotape. wait for it. president trump is tweeting immediately. he tweeted this. welcome to the race, sleepy joe. i only hope you have the intelligence, long in doubt, to wage a successful primary campaign. it will be nasty. you will be dealing with people who truly have some very sick and demented ideas. but if you make it, i will see you at the starting gate. i want to see a smile on
charles' face. i know what you're laughing at. okay. look, before we go to president trump, the reaction to joe biden, mr. biden got into the race this morning with a videotape instead of going before a live crowd. i think that's a little lame, in my judgment. what say you? >> it's truly lame. of course, the reason he did the videotape was apparently there was some blowback, he wanted to make the announcement in charlottesville, all of which is a very strange thing. i have seen a lot of cheap things in politics but i have never seen anything as cheap as launching a political campaign based on a horrific episode in which a woman was killed. obviously he doesn't even mention the two state police officers who were also killed during the unrest in charlottesville a couple years ago. but the idea of building a political campaign around a tragedy like this, it's mind-boggling and on top of that, of course, he lies about what donald trump said.
president trump unequivocally denounced hateful bigotry after charlottesville and he denounced the misbehavior on both sides and of course, we now know people on both sides of that conflict have been charged and convicted with stirring up the unrest, but it's a very strange thing. i have never seen anything like that, stuart. stuart: okay. now tell me your response to president trump's response, the tweet. i know that's what you were laughing at when we came on the air. >> yeah, you know, good luck to joe biden. this is a new world. he's been running for president, he's been part of the problem here in washington for, what, 45, 50 years. he's, you know, we have tried all of his ideas. they haven't seemed to work out very well. but this is a new kind of politician and if he wants to take him on, it will be certainly entertaining. stuart: you and i came on the air smiling. i'm looking over at msnbc and cnn, there are not many smiles over there. >> they look like they're
sucking lemons. stuart: stop it. it seems to me, again, this is my opinion, but joe biden and bernie sanders are both in their mid to late 70s, they are older, they are white and they are male. in the current state of the democrat party, i would suspect that's a bit of a problem. >> it is a bit of a problem, but the one thing i would caution viewers about is the fact that, you know, democrats are so eager, they are so determined to get rid of this guy, to get rid of president trump, that i think that one of the most important qualities somebody can have in that field right now is staying power and if bernie sanders and joe biden have anything, they have staying power. they have been around for a long time, and you never know, in the year and a half from now, voters could run off with some crazy person in the democratic party that looks good but then they could kind of freak out and say wait a minute, you know, we've got to go with the safe choice, we've got to pick somebody who
can really beat trump. and they could turn back to a guy like joe biden. but the problem is we saw that, that's how we got john kerry and mitt romney. of course, both of them went on to lose, but they were these frankenstein candidates that were turned to at the last minute because they were viewed as safe. so i wonder, i think that's the lane joe biden has. stuart: frankenstein candidates. wow. well, i will guarantee one thing, charles. you and i are going to have a very interesting time for the next 20 months. >> it will be a lot of fun. stuart: yes, sir, it will. i want to see that smile every week. every day. thanks, charles. i want to get back to the futures because this is how we will open the market this morning. the dow industrials, okay, down 100, but dow component 3m is a huge drag on the dow. earnings fell short, didn't give a very rosy forecast. they are going to cut 2,000 jobs and the stock is down 8.5%. that takes 119 points off the dow. without it, the dow would be
opening higher. as a matter of fact, it will take 146 points off -- i'm sorry. it will take 126 points off the dow. again, my point is, without 3m, the dow would be up. look at this on your screens now. facebook up $16 premarket, 8%. microsoft up $5.79, 4.5% premarket. joining us now, market watcher sitting next to me, joel shulman. welcome back. >> thank you. stuart: you only invest in entrepreneurial companies. >> entrepreneurial companies. that's right. stuart: let's take them one at a time. is microsoft, very mature company. do you still consider it entrepreneurial? >> no, i don't. so of the companies, we have microsoft and of course, we have facebook. microsoft was entrepreneurial, great company. it's a well-managed company. i know you own it. i don't have it in my portfolio but it's a well-managed company. there's a big contrast we talk about in our book, i wrote a book a few years ago with former president of chrysler daimler where we talk about what it
takes to be an entrepreneurial company and facebook was -- i'm sorry, facebook is but we are seeing a chink in the armor in terms of what's happening with facebook. we can talk about it if you like. stuart: hold on a second. microsoft not an entrepreneurial company anymore. >> was, about 20 years ago. stuart: still a well-run company. >> well-managed company. stuart: do not own it. >> do not own it. stuart: and not going to buy it? >> not going to buy it. stuart: facebook. why do you say it is an entrepreneurial company? >> there are a couple big differences between facebook and microsoft. facebook is run by the founder and ceo, microsoft lost their founder and ceo about 20 years ago. zuckerberg is in there. they continue to grow so the thing with microsoft is that their r & d has been mixed, some years up, some years down. it kind of moves with cash flow. moreover, when they acquisition, they don't necessarily create benefit but they are well-managed. the ceo at the top, i will talk about in a moment, it's a well-managed company. they are picking out good spots. facebook has $66 cash in stock,
hasn't sold one penny or very little, relatively speaking. compensation is relatively modest. they are growing r & d every year, profits are growing every year, revenue growth is way up. so for the last five years, it's been up 40% consistently, whereas microsoft has been kind of up and down. but there is a -- i want to talk about -- i'm a little concerned with facebook, not the social media stuff and so forth, but you have the c.o.o. and cto, now, on the planet, we track compensation, on the planet, hundreds of thousands of executives, facebook has the highest paid person on the planet, the c.o.o. has taken about $800 million in compensation for the last three years. it's the only company where somebody has been over $100 million each of the last three years and the cto, not to be outdone, is $700 million last four years. that is by hitself, i don't really care about, but what bothers me we own this stock, facebook, since one year after
ipo. why is it the c.o.o. which had 18.5 million shares, has sold almost all of it, 93% she sold 17.3 million shares, starting at the price of $26. the stock price now is about $180 something. why is it you sell close to $2 billion while taking out $800 million compensation? the cto sold 40% of the stock. while the founder ceo zuckerberg hasn't sold much if anything, the c.o.o. and cto have sold -- one other thing. we are also seeing people leaving the organization, creating new companies like pinterest. pinterest founders were from google and facebook. that happened to microsoft 20 years ago. people are peeling out of these great entrepreneurial companies. that tells me it's the beginning of an end of a great company like that. stuart: okay. good time for amazon. >> i'm hoping for a big pop today. stuart: thank you. okay. joel, you're all right. thanks very much, sir. check futures again, please. down about 113 on the dow.
all of that loss accounted for by 3m. look at the nasdaq. up about 20 points. president trump's disgraced lawyer michael cohen is walking back parts of his guilty plea. judge napolitano will be with us. he's not surprised about that. update on a story we brought you a few weeks ago. amazon employees listening in to your conversations with alexa. now we are learning those employees may be able to access your home address. we're on it. north korea's leader kim jong-un holds a summit with putin in russia. question, is that meeting a defeat for president trump? we'll get into that, after this. i'm working to keep the fire going
susan: belt and road, maybe the u.s. isn't here but vladimir putin is, so is the italian prime minister conte. a lot of u.s. allies are sending delegations including north korea. this is what sparked talk of a cold war between the u.s. and china, this trillion dollar some would say dollar diplomacy initiative from beijing that was initiated a few years ago, that and the asia development bank where china would give cheap loans around the world. people thought okay, this is a polarizing conflict that might be basically erupting between the u.s. and china, with all the dollars china is going to spread around the world and to gain influence, according to the u.s., because we have secretary of state mike pompeo saying if you go with the belt and road initiative, this is non-economic. you are starting with china. but it hasn't really gone well in the last few years since a lot of countries like pakistan that have signed up have been laden with debt to some of these projects. malaysia wanted a 30% discount.
i wouldn't say it's been going great so far but the really scary part for u.s. intelligence is the digital silk road where china is offering 5g capabilities and yes, it does come with huawei involved as well. stuart: the brits have taken huawei for their 5g. susan: that's right. germany has not said they are going to exclude huawei but i would say that's probably more concerning for the u.s., if you start using 5g, huawei, what about intelligence sharing and also keeping secrets. stuart: it's us and them. us versus them. susan: as you see, they are spreading dollars around to make sure they continue their influence. stuart: a trillion here, a trillion there, soon you are talking real money. susan: microsoft? stuart: there's a trillion dollar company. thank you, susan. good stuff. now, kim jong-un has met with russia's vladimir putin in russia summit. joining us, a former defense department guy and currently with the atlantic council. was this a defeat for president
trump's summit diplomacy with the north koreans? >> no. this summit was heavy on showmanship and less on substance. i think president trump didn't necessarily have anything undermined with putin and kim meeting. this is something that has been bound to happen. the two have actually never met and while president trump has met with kim twice and premier xi has met with kim four times, president putin was bound to meet with kim because russia has stakes in the north korea summit. no substance in the summit. russia did not back away from its support to sanction north korea. it didn't make any grand statements expressing support for north korea. so in many ways, i think the u.s. position on north korea and the negotiations remains where it is but again, there's significant weakness in u.s. ability to get north korea to denuclearize and that has not changed because of this summit. stuart: so far, i haven't seen any action by the north koreans to comply with our
denuclearization demand other than stopping some tests of nukes and stopping some missile tests. we haven't got much out of these summits so far, have we? >> no, that's correct. i think that's what the north koreans are trying to do in between summits, try to garner as much international support mostly from russia and china, to showcase the united states that they have other options and they won't be isolated. in actual opposition, the north koreans have rebuilt some testing platforms and actually showcased that they do have the ability to restart missile tests. they haven't done so yet but you are absolutely right, the hanoi summit was a failure. it was not able to get the objectives that we were trying in terms of complete verifiable denuclearization and again, russia has different objectives than the united states, as does china, and kim is trying to showcase that it's trying to get out of its economic isolation. stuart: let's hope they don't get much out of that summit. thank you very much for joining us. we appreciate it always. thank you. back to the market, focus of attention today.
down 120 on the dow but as i keep telling you, all of that loss is accounted for by one dow stock which is sharply lower. that is 3m. now this. every morning, let's see, 5:50 eastern time a.m., that is, we have an editorial meeting. we go over the stories for the show. today, i heard about two that i think were oh, so lame but you are going to hear both of them. fact is, every insurance company hopes you drive safely.
stuart: all right. the mayor of new york, bill de blasio, wants to cut down on red meat in schools and hospitals. cut down, if necessary cut out. ashley, what do you think of that? ashley: awful. you know what, this is a city in a word, we already have meatless mondays in the school district here, by the way, so this is just expanding that. but i walk to work every day, i walk home. i live in this city. and how about doing something about the third world road system, the potholes, the third world subway system, the number of people sleeping homeless on the street that i walk by every day. this city needs some serious help but let's get the meat out of the schools. stuart: yeah, precisely. let's politicize our children's diets. why not? good lord. there are some votes in it. ridiculous.
guess what? the cast of "empire," you know the show that featured jussie smollett, the cast wants him back. what do you say to that? liz: here's the quote. he's honest, he's filled with integrity, he's innocent, no longer subject to legal uncertainty. stuart: what? liz: they're not believing the criminal charges against him. no recognition of him staging his own hoax or no recognition of 16 felony counts against him. this is the "empire" cast sending a letter to disney and fox executives. stuart: that's hollywood, defending a man, jussie smollett, who deliberately tried to smear our president as a racist guy. that's what he did. that's what he did. liz: he's the victim of his own crime, allegedly, right? ashley: ask the chicago police department what they think about that. stuart: we have, actually. let's wrap this up and go to your money. we are going to be down on the dow, but up on the nasdaq.
look, the market is going up overall. one stock, 3m, really hurting the dow, ignore it. the rest of them look like they're going up. back with that in a moment. ♪ there are roadside attractions. and then there's our world-famous on-road attraction. if you've never seen yourself in a mercedes, you've never seen these offer.
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has got plans for, wait for it, a quiet leaf blower. now, look, there are a lot of suburbanites who would welcome some peace and quiet on saturday or sunday morning. who wants a neighbor with a leaf blower? liz: i guess he bores easily. stuart: doesn't he have bigger fish to fry? michelle mckinnon getting her three cents' worth in. you are a city dweller, aren't you? >> yes. stuart: you don't care about noisy leaf blowers. >> nope. stuart: he does. ashley: 8:00 a.m. on sunday morning, i'm going to go out the there. stuart: aren't there local ordinances? >> yes. stuart: my producer says nobody enforces them. do you have a noisy leaf blower? is that it? every saturday morning. all right. 20 seconds to go.
we are going to see the big rally from big tech continue and we will see what the rest of the market does, because the s&p, the nasdaq, record highs. we are going to go above and beyond those record highs. sure looks like it from the early action. here we go. it's 9:30 eastern time. it's wednesday morning -- no, thursday. thursday morning, all day. ashley: very good, stu. stuart: here we go. that's yesterday. this is today. we are down 178. okay. so on the downside in the early going. that's about two-thirds of 1%. that's the dow. look at the s&p 500. i don't think there's a similar loss there. far from it. that is up a tiny fraction, but it is up. the nasdaq composite all-time high, 8,149. that's a gain of better than a half percent. look at this. facebook sharply higher in the very early going, up $14. now look at microsoft.
susan: 25 cents away from being a trillion dollar company. it just hit it. stuart: there you go. right as ever, a trillion dollar company, that's microsoft. now, here's the problem for the dow. 3m. they came in with a dismal earnings report. the stock is down the best part of 10%. that's taking about 120, 130 points off the dow. without that stock, the dow would be up. now you know. who's with me? michelle mckinnon, she gets her two cents' worth in. liz macdonald, ashley webster, and scott martin, up in the top right hand spot. facebook, microsoft, very strong numbers. michelle, are we going to go up from where we are now? >> absolutely. stuart: 130 on microsoft, facebook nearly 200. up again from there? >> yes. simply because valuations.
we're not -- the s&p is about 17 times forward earnings. that's not bad. i think markets are absolutely moving higher here. stuart: okay. same question to you, scott. microsoft, 130, facebook nearly 200. both of them up from there. what do you say? >> yeah, i agree. you are the trillion dollar man. microsoft is a stock that you talked a lot about, my friend. congratulations to you and all the microsoft stockholders today, including us as well. michelle's right. these numbers, microsoft, from the cloud aspects, from the margin growth that they have, it's been amazing. remember we talked about facebook a couple weeks ago, there has been so much negative news on facebook in the last few months and i usually don't do this but one thing i said is just imagine if facebook actually had good numbers come out or good news at some point. that's what you see today and you are getting rewarded if you own that stock. stuart: you got it. now, here's a negative on a big tech company. not sure whether it will affect the stock much.
netflix may be in danger of losing bread and butter shows, "the office." is that a big problem for netflix, do you think, scott? >> maybe right now. but they are doing the right thing with this pivot toward original content. i'm going to say this for the last time. new stuff they are creating, whether it's shows or movies like "the babysitter" which is an original movie from about a year ago that i absolutely love, that's one of my faves, those are content pieces that are going to insulate netflix from moves like if they lose "the office" or something. right now, it's maybe a concern but they are making the right pivot and therefore going forward, i don't think it's a reason that subscribers are going to move away from them. >> i think it's absolutely a reason. 70% of the minutes of people watching netflix -- think about the content. 20% of all content around the world is owned by fox and disney. when you think about those numbers, that could be a huge
problem for netflix. >> michelle -- liz: 72% of the minutes watched on netflix is not their content. they have to rent it. those rental costs are swamping, the debt is swamping its shareholder equity. ashley: i think this is a gathering threat because more and more, these companies will want their content back and netflix will have to pay a very pretty penny to hang on to them. if not, they lose their content. stuart: i have a lot to cover. moving on. i'm sorry, i'm sorry, i'm sorry. tesla, rough profit report. they didn't make a profit, they made a loss. ford, by the way, is investing in its rival electric car company or electric associated car company. tesla this morning is down right there at $250. tesla has a core group of hardcore supporters. are they beginning to drift away? >> it's not even about the hardcore. i think it's about the future car owners. you are absolutely seeing car sales down. let's be honest here, ford is selling at ten times less than tesla and tesla eventually is
having a problem that earnings matter and now you are seeing -- liz: an exciting move by ford. amazon has invested in riveon as well. it has a hot lineup, it wants to do an electric pickup truck. you are talking an electric f-150 potentially. this is something that was an interesting move according to analysts on wall street. stuart: ford stock drifting around at $9 a share. we take your point. check the big board. we are down 212 points as we speak. that's the better part of three quarters of 1%. again, though, 3m accounts for a big chunk of that dow loss. higher sales at southwest airlines and the stock is not moving much, up 13 cents higher. that's all you've got there. but ups, they say bad weather hurt their profit report and it's certainly hurting the stock, down 5% on ups. price of oil this morning, $65 a barrel. but the price of gasoline keeps on going up. look at this. $2.87 is your price of -- that's the national price average of
regular. i'm getting tongue-tied here. bottom line, $3 gas i think is on the way. mcdonald's making a push to hire older workers. what do you say to that, scott? >> it's interesting, because they are going to hire older workers, they will advertise some of these jobs, i think, on aarp.com or in the magazine, and what's interesting to me about that story is then they have taken other workers' jobs and replaced them with kiosks and automation. that seems like a little bit of a disconnect, right? it just doesn't seem like that fits. i like the stock here, we don't own it yet, but i do think it's an interesting move. ashley: mcdonald's says it has a hard time filling positions for the breakfast and lunch periods. teenagers often aren't available until after school, for the later shifts. older workers -- >> or they are asleep. ashley: older workers are more available and want to do that. they have to fill 250,000 jobs this summer. this is the first national effort to bring in older americans. stuart: 250,000 this summer? good lord. liz: i like to joke about how
people bar-hopping at 2:00 a.m. go to mcdonald's. your mother saying heres your hamburger. >> one in three people only have $5,000 saved for retirement. stuart: all right. here's special recognition rearing its head again. walgreens installing facial recognition cameras. twhaent they want to find out what you're buying, what you're looking at, how long you look at it and an overall picture of you as a consumer. you might not like this. you can't escape it. >> exactly. know what's really creepy about this? you can't see the camera. it's the size of a penny, that lens. it's going to track you to see what you're looking at, what you're interested in. i think it's a weird creepy development. stuart: i'm very familiar with this. it works.
you want to really have a close understanding of an individual, that technology supplies it. extraordinary stuff, really. amazon, they report after the bell today. this is going to be a really, really big one. the stock is at $1918 already. scott, are you expecting strong numbers from amazon that could put it back at $2,000 a share? what say you? >> i'm hoping, yes. as an amazon stockholder, for sure. i think a couple things are going on here. the microsoft numbers in the cloud side give us i think some really nice hope for aws especially. yes, i'm really looking at aws to really have a nice quarter here and that should lift the stock. retail side of things, probably a decent quarter. i don't know if that will be a blowout. overall, i think things look really good for amazon going into the close. stuart: real fast, i have another amazon story here. amazon employees, they monitor the alexa voice assistant. well, now there's a new
development on that. not only do they monitor what you are saying, but they can find out where you live. ashley: talking about creepy. stuart: not so sure i like that. >> then it helps you decide what to buy. i don't know. these things don't bother me. i guess i'm just -- i don't care. i know that i'm exposed and it is what it is. if it makes my shopping experience better, i'm fine with it. ashley: no expectation of privacy whatsoever these days. if you think there is, you are sadly mistaken. stuart: i think people accept it. >> don't go online. stuart: last word to you, scott. >> yeah, i agree with 2m, michelle mckinnon, because you know what, guys, she and i talked about this a couple weeks ago. nobody really cares about the data we put online. there is so much of it, whether your location services on google, whatever, it's out there and i think ashley or 2m made the point, this is really what's out there to help the consumer figure out what they actually
want and other stuff you may want to buy. stuart: i think that's true. the age of privacy is gone. get used to it. liz: i'm never used to it. no. stuart: okay, liz. i got to say thank you very much to michelle and scott. both of you, thanks a lot. good stuff on a very important market day. look at this. we are down 222 points. i'm getting tired of saying it. much of that loss is accounted for by one stock, 3m, which is down -- not 2m. the brits making a deal with china's huawei to build a 5g network in britain. remember, the trump administration has been pushing our allies, brits included, not to work with huawei. they are concerned about chinese spying. we have the story for you. san francisco at it again. proposals for a new tax targeting the wealth created by the big tech ipos that are coming up. we will explain what's going on there. hillary clinton going right after president trump in a new "the washington post" opinion piece. she says the endless investigations should continue.
stuart: all right. we are down sharply on the big board, down 244 points. but the rest of the market outside the dow, the s&p, the nasdaq, mostly on the upside this morning. the dow is the exception. we've got some high tech car company stories for you. google and daimler, to be precise. gerri willis, first of all, the google story. gerri: google's self-driving car spinoff, waymo, what they are doing reopening a plant in detroit. get this, they are taking soccer mom vans and turning them into autonomous vehicles,
self-driving vehicles. they are hiring 400 americans, spending $14.6 million, about $8 million coming from michigan. they are taking mini vans, converting them into self-driving cars. daimler converting a plant into an all electric freight truck plant. they say they are near the big market of california. they are also taking a school bus division and turning these into natural gas-fired buses. the tweet from this company, this is the beginning of the end of internal combustion era for commercial vehicles. stuart: thank you very much indeed. we will be back to you shortly. now we have this. hillary clinton surrounding oe "the washington post" on the mueller report. mueller's report leaves many unanswered questions in part because of attorney general william barr's redactions and obfuscations. but it is a road map. it's up to members of both parties to see where that road map leads. to the eventual filing of articles of impeachment or not.
well, look who's here to respond. lara trump herself. welcome back. >> thank you. great to be with you. stuart: hillary clinton having a go at your father-in-law, basically saying to congress get out there and investigate ad nauseam. what's your response? >> well, of course she conveniently chose "the washington post" which we know loves the president and everyone in our family. they are terrible to us all. it's pretty rich coming from a woman like hillary clinton who, against the direction of the fbi, deleted 33,000 e-mails, used hammers to destroy cell phones and used bleach to wipe her server. none of us knew, by the way, what bleach it was. thank you, hillary clinton, we now know what it is. to say that anything nefarious happened that there was anything other than the president's full exoneration shown by the mueller report is completely ridiculous. stuart: by the way, in that op-ed in "the washington post" she goes on to say maybe many say i'm not the right messenger.
>> i think almost everyone would say that. your time is up. you tried it, it's not going to work, it has never worked for you. the democrats are so obsessed with trying to find any way to beat donald trump in 2020 because they know he's going to win. so what's the alternative? let's find something in the mueller report to try and impeach him on. it's so crazy. stuart: you are beginning to enjoy this, aren't you? >> well, you know what, you've got to fight for something you believe in. quite frankly, whenever people are attacking you and attacking people you love and people you know that are doing the right thing, it feels good sometimes to fight back. stuart: now, what do you make of this mother of all caravans which is approaching our southern border again? i think they are holed up in mexico at the moment. there's a lot of them on the way. president trump wants to change the asylum laws. that makes -- to me that makes a lot of sense. you've got to do something. but it's not going to happen. the democrats will never allow that to go through congress. >> it's so sad because wouldn't
they want all of these illegal immigrants who they say we need to be kind to and do the right thing for to go to a sanctuary city where they will be taken care of? by the way, speaking of that caravan, do you know that people in cities in mexico have complained about the influx of people coming through their communities, they can't even deal with it there. this is a major problem. and the fact that congress has not addressed what is going on on our southern border has been detrimental not just to our country but it's threatening people's lives because these people have incentive to try and come here and a lot of them die and are injured along the way. stuart: that videotape reminds me of what happened in europe, when there was a march across europe by a million people who wanted to get into western europe. angela merkel let them in. open borders. >> it was the downfall of germany. one of the worst things that ever happened to germany. this president knows that. he's trying to prevent that from happening here. but congress has got to get
their act together and do the right thing for the american people. stuart: thank you very much for being with us. >> thank you. always great. stuart: you are a glutton for punishment. you keep on coming back. >> i'll be back again, i'm sure. stuart: okay. we'll take it. thank you. check the dow 30, okay. right-hand side of your screen. we are down 200 points. left-hand side of your screen, i can see 25 of the dow 30 in the red. they are down. so the dow 30 -- ashley: microsoft leading the way. stuart: thank you very much indeed. all right. former nissan chief carlos ghosn, yes, he was granted bail in japan and he is now out of jail. here's our question. are the japanese authorities caving to pressure and criticism that their legal system was just too tough and harsh? judge napolitano coming up next on that.
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stuart: hershey is selling a lot of chocolate. wall street likes that. the stock is up 4.5%, $122. now this. former trump attorney michael cohen has walked back parts of his guilty plea. judge andrew napolitano is here with us now. do innocent people sometimes plead guilty? >> yes. i know that sounds bizarre and
in federal court, guilty pleas are taken under oath and the last question, i have taken a thousand guilty pleas in my career. the last question the judge says is are you truly guilty, or are you pleading guilty for some other purpose. and they always say, the government always overcharges so the plea agreement sounds like a good deal, they want to avoid the catastrophic financial ruination caused by a system where the government has limitless resources with which to prosecute anybody, even when they overcharge. if you're not in a profession like law or medicine where a guilty plea would impair and be fatal to your career, your life goes on. you go back to whatever you were doing as soon as the guilty plea is over, whether it involves jail time or not. in the case of a lawyer, you lose your license. case of a doctor, you lose your license. other people can go back to their lives. stuart: i'm sorry, but i find
that a fault in if judicial system. if the charge can ruin you, if you don't plead guilty, there's something wrong with that. >> it is a profound fault. it is also a legal fiction that everybody who pleads guilty is guilty. now, this is what he's claiming. he intimates -- talking about michael cohen now -- intimated the impossible which is to rescind the guilty plea because it's taken under oath and because he answered all the questions properly, the court is not going to say oh, you changed your mind, it's too late. so guilty pleas very very rarely are rescinded. only if there's some fraud, the government lies to you or you don't comply with your requirements like what paul manafort. otherwise the guilty pleas are iron-clad. stuart: now, we have to talk about carlos ghosn, former nissan chair. he got bail in japan. we understand he's now out of jail. my question is, were the japanese authorities responding to the pressure and the criticism from people like you who say that their legal system
is just too harsh? >> you know, they were very aggressive with him and filed a last-minute appeal this morning, japan time. which this morning, japan time, sorry, nighttime there, now, it was rejected summarily. stuart: they want to keep him in jail? >> the trial judge awarded bail. the government appealed it. now, the government usually doesn't appeal over there the way it appeals over here. but they went right in the face of the trial judge and went to an appellate court which summarily denied it. my take, this is not a strong case. this is a political ruination of carlos ghosn perpetrated by his industrial adversaries who have influence in the government. and the courts are seeing that. stuart: but having been charged, he will likely be found guilty because that's the way it is in japan? >> 99.9% of all jury verdicts for criminal cases in japan,
unheard of over here, are guilty verdicts. stuart: not right. >> has to do with the attitude towards authority of persons on the jury. stuart: judge, you explained that one very well. >> thank you. stuart: you are welcome. the nfl draft is tonight. yes, it is. young men, lots of them, become instant millionaires. coming up, we talk to a former player who now helps current players prepare for life after football. i want to know, i want to know what does he say to him, save your money, don't spend your whole paycheck, put some away? what's he going -- does he lay down the law with players the way i would? let's see. don't waste your money. please. save it. bernie sanders spoke at an event for women of color. didn't get a warm reception. the two leading democrat candidates, bernie and now joe biden both older white men. could that be a problem in the new democrat party? my take is next. trips to mars.
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stuart: there are now two clear front-runners, joe biden and bernie sanders. they lead the other 18 candidates in all the polls. they have something in common, the liability of being older white males in a party dominated by younger people, many of color. the bernie sanders, that liability was on full display last night in texas. watch this. >> for black women, specifically? >> i'm sorry? >> for black women? >> the black women will be integral part of what our campaign and what our administration is about. okay? that means -- >> hold on. >> okay. stuart: there was a lot of heckling. the senator is 77. he was speaking to a forum for women of color. as you saw, they gave him a tough time. now joe biden is 76. in a nod to modern technology he launched his presidential bid with an internet video this
morning. here's why he is running. watch this. >> the core values of this nation are the standard in the world, our very democracy, everything that has made angela merkel is at stake. that is why today i'm announcing my candidacy for president of the united states. stuart: okay. now, 32 years ago june, 1987, biden launched his first run at the oval office. he withdrew after charges that he lifted a speech from a british politician that was plagiarism. we drew. he launched a second bid in 2007. he went nowhere. he described barack obama and a bright and clean nice looking guy. he had to apologize for that. like bernie, joe's' age, history, race and gender could be big problems. democrats have not moved away from identity politics. bernie and joe may find that among democrats these days some identities are a liability.
the second hour of "varney & company" is about to begin. i thought we were going to get animation at that point but we're not. ashley: i could try to do it for you. stuart: it is 10:02 eastern time here in new york. that means it is mortgage rate time. what have we got. ashley: the freddie mac mack day. i live for this. once a week. here we go. 4.2%, that is the rate on 30-year fixed mortgage, up from 4.17 last week. it has been increasing four straight weeks in a row but still historically at 4.2% is pretty darn good. you know look, the housing market is trying to get some traction, both with existing home sales and new home sales. we're getting into the spring now. this is the time, we haven't seen it take off yet, but there are hopes the low rates, even though they're rising a little bit, are still enough to entice people into the market. stuart: 4% is still low to me. ashley: it is.
stuart: got to get back to the editorial of mind, joe biden is officially in the race and bernie sanders as we showed you, got heckled at that forum for women of color. doug schoen is with us. he is a democrat. he is a fox news contributor. he is a former clinton pollster. add it all up he is with me today. >> i'm pleased to be here. stuart: older white men, i, looks to me like a problem within today's democrat party. what do you say? >> definitely is a problem. what we're seeing, as you were suggesting, is there is a desire for younger, people of color, women, with less, rather than more experience. so both sanders and biden are, in terms of identity politics positioned the wrong way. sanders is at least for the new democratic party is a progressive a socialist. biden, defiantly, clearly a moderate. stuart: but you wouldn't count either of them out just on
identity grounds? wouldn't do that? >> i wouldn't count them out, but i think biden in his own way has a tougher slog. hasn't raised any mon, doesn't have an organization. his history in presidential politics is not good. bernie does have enthusiasm among, younger, white progressives. he has raised a lot of money. would i say that bernie is actually better positioned than biden at this point. stuart: what do you make of joe biden releasing an internet video to announce his candidacy? i don't know that didn't seem quite right to me? >> he was going to have announcement on wednesday that got pushed into an internet video on thursday. frankly i'm not all sure that joe biden is ready for prime time, much less a presidential campaign and back and forth he will get from the press. stuart: you're talking down on
bernie and joe. among the other 18, who looks promising? >> kamala harris, certainly a promising candidate. mayor pete is a promising candidate. i suspect there will be one or two others that will emerge from the pack during the next year or so, who will be hopefully compelling. stuart: do you see any of the 20, there are now 20 candidates -- >> i got it. stuart: do you see any of them would firmly say that one can beat trump? >> if joe biden could get nominated without the fight to come which i know is a practical impossibility, but if he could he would be a tough candidate for donald trump to beat. but i see him getting chewed up. when you say to me who do i think it is going to win i would have to bet now donald trump. stuart: hold on a second. do we have time to put up president trump's tweet about sleepy joe. can you do that for me? we're trying. the president came out with a tweet immediately after the biden video this morning.
it was cut, it was biting. it was sarcastic t was a harsh response. i'm dying to get it back up there. can we do that please? got another couple seconds. it will be on the screen, in a moment. no, no. that is 3m. not even close. okay. let me read this for our viewers. welcome to the race, sleepy joe. i only hope you have the intelligence, long in doubt to wage a successful primary campaign. it will be nasty. you will be dealing with people who truly have some very sick and demented ideas, but if you make it i will see you at the starting gate. what do you make of that? >> i think the president is really summarizing much of the reality joe biden faces. a tough primary and a lot of nasty, nasty charges. we didn't even get into the issue of these women who are accusing him of inappropriate touching. and you know, while i may feel some of that is overdrawn and
overwrought, but in the america of today, debate women accusing a leading presidential candidate touching them in ways they found to be inappropriate, that will be an issue. stuart: back to florida there. >> i'm going tonight, believe me. stuart: suntan toned up. >> i need it. stuart: thank you very much. >> thank you. stuart: check the big board. we're still down 200 points. show me 3m again please. that is why the dow is off so much largely. 3m is the down the best part of 10%. $21 down. it's a dow stock. all right, 3m, we told you about that. facebook, up $11. that is 6%. it increased the number of daily active users to 1.5billion. that is a big number. microsoft sales and profits up big time. the cloud business is doing very well. just shy of $130 a share. that is a near 4% gain. tesla it's losing money.
demand for its cars is down. it is broken down on the stock now to 253. amazon they report at 4:00 this afternoon. big expectations there. $1915 a share now. it is up, just .7%. just wait until you see that report later on today. still on the markets, brad mcmillan is with us commonwealth financial networks cio. all right, brad, looks like the market overall wants to go up. is the rally continuing from here? >> i think the rally is continuing, stuart. we had a lot of bad news corporate, economically, and expectations a lot of headwinds. one by one they're starting to go. one. ways to clear forward, we have seen a new high. that eliminate as lot of resistance. stuart: is it profits doing this? because we keep a check how profits are performing, of those s&p companies reported so far,
profits are up 7% compared to last year. they were supposed to go down 2% but they're up 7%. is it strong profits that will propel us to new highs in the future? >> i think that is the biggest part of it and i think you're absolutely right. what is important the is gap there. the expectations were low, the reality is always a lot better and we're seeing that and the market hasn't fully incorporated that. we're seeing earnings have an impact but we're also seeing returning confidence have an impact so we have got two things acting to push the market higher. stuart: i don't like this expectations game. it's kind of rigged. i'm not, that is a harsh word to us. are you comfortable with all these expectations whether you beat or don't beat them, you beat them or you miss, are you comfortable with that? >> not so much i'm comfortable with it i certainly understand what you're saying but it's a reality. companies will be cautious, they
have to be cautious highlighting the risks and what could go wrong, that is appropriate but at the same time they want to do better. it is not that anybody is trying to do anything bad it is just endemic the way companies have to operate and analysts have to think but as investors we can understand that, we can invest beyond what they're actually saying. stuart: yes we can. brad mcmillan, thanks for joining us sir. the rally continues according to that man on the right-hand side of the screen of the thanks, brad. >> thank you. stuart: britain the latest country to announce, yes it is working with huawei on 5g. they're not listening to america's government which is warning that the chinese company, huawei, is basically spying. brits not concerned with that. we have got a story there. new video shows nearly 300 migrants crossing the border under cover the night, all together now. the mother of all caravans continues to head north towards our border. looks like chaos to me.
coming up the nfl draft is tonight. what is it it like to get that life-changing call, you're a millionaire. marcus late at this more, he will talk about what it is like to say you're an instant millionaire? i know what i would say to them. ♪ makes it beautiful. state of the art technology makes it brilliant. the visionary lexus nx. lease the 2019 nx 300 for $359 a month for 36 months. experience amazing at your lexus dealer.
>> it's still a 200 point loss for the dow. most of the dow stocks, 30 of them, most are in the red. difficult story for the s&p. different story for the nasdaq tech stocks but the dow, suffering. southwest airlines selling a lot more tickets. that stock is up 3.25%. nice gain. look at comcast. a, they're losing cable
customers but adding b, more high-speed internet subscribers. does that balance out? the market likes it. up a buck at 42. now this, bayer a german company, asked a california appeals court to throw out a 88 million-dollar judgment from a man that claims their product gave them cancer. ashley: bayer, regardless they want this verdict thrown out. if the judge refuses to throw out this 78 million-dollar verdict, bayer says we deserve a new trial, claiming that the jury in the first trial never really got to hear from the epa who say there is no solid evidence there is likely cause of exposure between this particular chemical, glyphosate and cancer. they say, listen, there is over 11,000 lawsuits outstanding. the original award in this case was 289 million. the judge in the case knocked it down to whatever it was, 78 million. bottom line bayer says there is
no proof. stuart: it is true. ashley: that this chemical is directly linked to cancer in humans. stuart: there is no scientific proof of a link between roundup, the weed killer and cancer in humans. >> correct. it is up to a judge in california to decide what happens next. stuart: california. ashley: we will see. this is a massive -- for bayer. stuart: could be ruination of that company. nfl draft is today. marcus lattimore, director of player development at university of south carolina. marcus, welcome to the program again. good to see you, sir. >> thank you for having me. i'm honored to be back. stuart: okay. your job is to tell these youngsters how to manage all of the money that suddenly comes at them. i'm going to ask you what advice you give these guys.
then i tell you what i would say to them. you first. >> yes. it's a hard top i can to talk about because what you have to realize is that they have worked their whole life for this moment and the emotions can be overwhelming at times but having a far-sighted perspective, realizing that you just, you stepped into a business. you have to have a clear understanding that that it is a business but unique thing about the nfl is that your career could end at any moment. so it is so easy to say save your money but it is the hardest thing to do. stuart: that is a good point. it is hard. you're a young man. vigorous, dynamic. certainly coming into a lot of money you've never seen before. i understand, very difficult thing to throw at them. i would be a little blunt. would say save it, don't spend it, don't give it away. avoid taxes at all costs, when
you get a contract, spread it out over as many years as you can to avoid taxes. am i being too rough, too blunt? >> no, you're not. this is the truth they need to hear because they're disconnected from reality. you have to remember again this is an amount of money these guys have never seen before. our brains are wired for short-term thinking and quite frankly immediate gratification. stuart: yeah. >> so it is so easy to conform to what everybody else is doing in the locker room with foreign cars and nice houses and private yachts and just all of these things that come with being an nfl player that they lost. stuart: you have a tough job, marcus. forgive me for asking the question, but look back in the day, when you got that phone call, when you suddenly realized, bingo, i've got serious money coming in, what did you do with it? >> thank god i had good people
around me because i, i was excited and your emotions get in the way of things you usually make decisions you usually wouldn't make. i was lucky enough to have a financial visor who helped me allocate my resources in the right way and put them in stocks and bonds. my money is now growing for me because of that i only played two years in the nfl but there is a scary statistic we always see that 80% of nfl players who go broke two years after retirement because of the things that you talked about we don't do. stuart: marcus, you're doing great work there, you really are. very, very important stuff. we really thankful you came on the show to reach a much larger audience. sir, come back. marcus lattimore. >> i can't wait. stuart: we'll see you. good luck. san francisco looking to cash in on all the tech ipos coming up. the city, believe it or not, is considering an new ipo tax.
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stuart: market still down 245 points. i have to tell you, 25, 26 of the dow 30 are in the red. the dow 30 stocks are taking it on the chin today. ups taking it on the chin. they're down 7%. that is a big drop. weather, they say, bad weather, hurt their results. how about hershey's? that stock is up. a gain of 4.8%. they sold a lot of candy.
that helps hershey. san francisco has a new proposal. it's a new tax, hitting big tech companies lining up to go public. our own lauren simonetti is on this one. can you explain how it might work? >> proposal to go on the ballot in november. 1.12 payroll tax on stock based compensation. this is to hit the unicorns, the tech companies that really found their way in silicon valley as they are about to ipo. it could affect uber, lyft, pinterest. stuart: suppose i own a little stock in uber and i live in california. uber goes public. the, let's suppose the stock goes up. i own that stock. when do i pay the ipo tax? >> that is a very good question. you would pay it -- this is going to target the stock-based compensation. so i think it's when they want to sell the stock, employees who got in at the beginning. stuart: okay. >> looks like they're trying to
punish the workers, the people there for the whole founding of the company essentially. when they become the overnight millionaires that is when the tax would hit. i'm not sure -- stuart: whether the company pays or the individual pay. >> the company. stuart: but when the individual cashes in that stock they would pay a capital gains tax. >> yeah. stuart: capital-gains tax, long term or short term. >> corporate taxes are very high in california so -- stuart: you have this one other tax on top of that, ipo. >> it is treating technology as the villain and the savior at the same time. stuart: yes it is. >> san francisco is very liberal city. they have major income inequality this that city. stuart: they do. >> when you look at the campaign trail, especially on the democratic side, that is what they're trying to battle. look what they're doing in san francisco. it doesn't even make much sense. what you might start to see as all the companies in the pipeline start to ipo, maybe they leave, maybe they go to texas or maybe go to
north carolina. stuart: smart move. >> there are repercussions, remind me of what aoc and de blasio did to new york to amazon. they sent a message we're not open for business. there are real problems in san francisco. i understand why they want this tax, why companies are need to be responsible. there is traffic and major housing affordability problem. stuart: so what. >> there is income inequality, maybe address the supply of houses on the market. there are regulatory fixes to some of this. it doesn't always have to be, here is another tax. >> i have to go. lauren, thank you very much indeed. what have we got here, adults think companies like facebook and amazon should be broken up. our next guest says the backlash against big tech will only get worse. crisis at the border, 300 migrants on one group surrendered en masse to agents in texas overnight. we have another caravan on the way. we have the texas attorney general on the show and he's next.
♪ ♪ ain't got nothing but love eight days a week ♪ stuart: we should stop talking let the audience listen to some of the great harmony. your money is going down, 253 points down on the dow industrials. that is the best part of a 1% pullback. it is not across the board pullback. some stocks are up but ones in the dow are down. this is the big drag on the dow,
3m. it's a dow stock. they are cutting 2,000 jobs. they reported very weak results. the stock is down over 10%. that really hurts the dow industrials. here is another loser chipotle. they announced they got a new subpoena for data related to the e.coli outbreak. they're down the best part of 7% nearly 291 migrants surrendered to officials at border overnight. they were all coming in one big group. texas attorney general ken pack ton joins us now. i don't mean to be going over board here, but it looks like you have lost control of the border. what do you say? >> we've been saying that for a long time. you're right, it is getting worse. people understand coming from central america, this asylum policy gives them an easy access point. they're taking advantage of our weak laws. trump has been talking about this since he has been in office
and before. stuart: should the president close the border? >> that is complicated question. depends what it means. we want to continue trading with mexico and other latin american countries that would have impact on our economy and jobs. closing the border means we need secure border. we want less illegal immigration. we don't want to stop trade. >> so what are you going to do? the president president wants to change asylum rules. that will not happen. congress will not do that. he wants to build a wall. can't build that in short period of time. he wants to close the border. not such a great idea. what will we do, mr. attorney general? >> frustrating problem. one we've been talking about for more than a decade. at least we have a president moving forward with some progress on this. actually trying to build the wall. i think it is just going to take time. we've been asking congress to change immigration law for years. you're right. i don't expect anything, because they have not acted on this for
decades. stuart: i mean, you got 1000 a day and more coming over the line here. what are you going to do? you're the attorney general of the great state of texas, what are you going to do? >> it is tough for us. we've been told by federal court, that the states can't pry e these issues. we're preempted by federal law. we're spending hundreds of millions of dollars of our own money. every session the legislature allocates money for border security. we can help but we don't have the ultimate responsibility. it affects us with human trafficking, drug smuggling, we have massively increased costs to our state. stuart: this is not like you, mr. attorney general. you're from the great state of texas. we're going to do this, we're going to do this, we're going to do this. seems like you're almost throwing up your hands, saying, we're as frustrated as everybody. there is nothing we can do? >> we're doing everything we can do but it's a massive problem
that the federal government needs to act on it. you can see the frustration with trump. you can see the frustration with my state. there is a lot of frustration because congress is not acting. and a lot of these politicians are not taking this issue seriously. stuart: should we mobilize the national guard, by the thousands bring them down there? >> i wouldn't have a problem. i wouldn't have a problem with that anything we can do to protect the border. we have, as you said, thousands of people crossing the border every day. we're dealing with all kind of different crime issues and other issues and so, anything that we can do, i'm for. stuart: i don't mean to leave it, sort of undecided, but i think your frustration shows and, i think our viewers see it. i think america sees it. but i'm waiting for some kind of a forceful response from somebody as this invision grows. last word to you, sir? >> look, we're, you're right, we are all frustrated down here.
sought help from congress. we haven't done it. the cases gone to the u.s. supreme court. they told us states are limited to what we can do. we're still spending 600, 800 million every buy annum, trying to help the problem. that is not sieve. stuart: 600 to $800 million spent by taxpayers of the great state of texas? >> that's correct. that is almost every session, i think every session since i can remember we've been putting hundreds of millions of dollars into border security. we can't stop people from crossing the border. we can only arrest people for violating state law. if they violate federal law it is up to the federal authorities to act. stuart: are you allowed when they cross the border, are you allowed to put them on a bus, send them to california like sanctuary state or new york city? seriously, there are sanctuary states and cities. >> look i like that idea. it is an idea my daughter gave me when she was in college. people that, you know, think that sanctuary cities are such a great idea, why don't we ship
people to their cities, let them deal with it? i notice they have not been so invitings of that idea. stuart: i hope you do it. mr. attorney general, ken paxton, thanks for joining us sir. >> thanks a lot. have a great day, yes, sir. i have got a poll. 47% of people think big tech, apple, facebook, amazon, google, should be broken up. that is an "nbc news-wall street journal poll" too. it shows only 6% of the people trust facebook. robert moran, brunswick insight partner joining us now. robert, look, there might a backlash against big tech. i mean we hear it in at that poll but facebook is gaining active daily users. they have 1.56 billion. how come they're gaining users if so few people trust them with privacy? >> you know, this is a great point something i'm trying to push out which is on one hand you hear the narrative in the
media about a tech lash, on the other hand there is a ton of research out there that americans like the products and services that the technology industry is creating. our own research shows 74% of the americans believe the products and services they create are a force for good, are making america better. so i think there is, there is some tension here. on the 47% point here, this is largely being driven by the dynamics within the democratic primary, and by elizabeth warren and, in the same survey you're talking about, 50% oppose breaking up the tech companies, but it is a very tight split. what is fascinating here, there is very little difference between democrats and republicans in this data. it is a interesting crosscutting issue. our own research found the same exact 47% in favor of some kind of a breakup. the fascinating thing here is, when you then ask people right
after this, or should the market decide this? 68%, you see this in the "wall street journal" survey, 68% then say the market should decide. stuart: that is a total contradiction, really, isn't it? let's be honest here. we don't know what we really think. we don't like invisions of privacy, but we love products and services that come our way because our privacy has been invaded so to speak. there is no solution here, really, is there, none? >> i think there are two very important things happening. the first is, you know, in the late 19th, early 20th century, america went through industrialization. we had to create new laws to figure out how to regulate industrial america. the same thing happening with data. we historically haven't thought about data too much. we're trying to figure that out. the second part i would say, if you look at all the public opinion on this topic, you look just at social media platforms, it is sort of like we've met the enemy and the enemy is us.
there is a sense that you know, we love the products but we are not sure about how people are using them. so you see quite a bit of data among americans that say they would like more policing about the content that is put, that is shared on platforms but of course it is us sharing that information. stuart: it is just fascinating, isn't it. six of one, and half a dozen of the other. that is where we are. we have to get used to this new technology i think. we have to get used to it. robert moran, thanks for joining us, sir, always a pleasure. >> thank you. stuart: sure. uber drivers planning a 12-hour strike. this comes right before the company's planning this ipo going public. what's happening? liz: kicking off the most exciting ipo of the year, a limited 12 hour strike in seven cities, including uber's headquarters in san francisco. not completely shut down but customer waiting times may be extended, prices may go up. here is what is happening.
the drivers are saying we're not getting decent pay or health benefits or any benefits whatsoever. uber is using cost savings to watch out for this, robot taxis. there is a push to unionize uber drivers. we see that with the uaw in connecticut. what they're saying is, you're using cost savings, want to point the cost savings to us, you know, to lift our pay. what is really, really interesting about this is that the stock grants, if it goes public, you could pay the drivers with stock grants but as lauren was just reporting in san francisco they will get taxed. stuart: but seven cities, right? >> seven cities, 12 hours. stuart: american cities. liz, thank you. liz: sure. stuart: verizon announcing plans to expand its 5g service all across america. it just named 20 more cities where customers will get 5g this year. they include, atlanta, boston,
cleveland, dallas and san diego. senator cory booker says he will pick a woman for his running mate. more identity poll tickets from the left? is that what it is? we'll tackle that one in our next hour. kim jong-un, vladmir putin, summit meeting today in russia. is kim reaching out to putin because he is desperate for relief from u.s. sanctions? that is a decent question. we'll answer it too after this. ♪
you russia's president putin met with north korea's kim jong-un today. welcome, harry kazanis. harry, is this a sign america's sanctions are working on north korea? >> at some point north korea could run out of foreign exchange reserves. their economy is contracting. kim jong-un has a problem. the challenge is vladmir putin cannot solve the problem for him. the only thing this summit did was produce a whole bunch of pictures. in fact we can call it the selfie summit. besides great photo-ops going across social media. with the u.n. security council sanctions in place, they will stay there. putin can't stop them. stuart: harry, we know north korea's economy is contracting and north korea's kim jong-un got nothing out of the russians, do we know those
two things as facts? >> i think we do. there is a lot of intelligence and things that come out of north korea point to gas prices are going up and down weirdly over the last few years. there is some issues with food instability and prices going up and down. we know the north korean economy is having problems. from what i heard from different officials in and outside of the white house there is a lot of building projects that have been stalled on the outskirts of pongyang. there is some signs there is problems. the thing is, both sides get great photo-ops from the pictures. kim jong-un looks like a world leader in front of his people. those things will not pay the bills and not give his people food. that is a huge problem. stuart: i want to ask you about 5g. looks like we could be developing a real problem. the brits are going to work with china's huawei to roll out their 5g network. america doesn't want them to do that but we'll they will do it anyway. do we have 5g problem shaping up here. >> we do, stuart, absolutely.
huawei will not be in the core infrastructure of great britain's 5g networks. they will not deploy servers or things of that nature. they will deploy what they call base stations. here is the problem i have with that. you're a british defense contractor working on say the f-35 with the united states. imagine that base station picking that information up an transmitting it back to beijing. we have to think in very simple terms. the united states and britain have a very close alliance. we share a lot of defense technology. if any schematic, die grooms, intelligence go-go through the 5g network. it could be passed to beijing. that is the problem. stuart: i don't see any way around this. america's 5g and china's 5g and never the two shall meet? >> we might have to limit our intelligence sharing. i don't know how you're going to do that. there is no way we could essentially have what could be a intelligence pearl harbor basically hidden in britain's
networks or a trojan horse. i don't think which can allow that. we have be to very careful about this. stuart: the brits better be careful. harry, thanks for joining us. this is interesting stuff. we'll be following it. thank you. >> thank you. stuart: we know league of legend very popular videogame. i haven't played it but i know about it. they held a big tournament in st. louis. there was and a rena for this tournament. 10,000 people. look it was packed. 600,000 tuned in on line. that is a crowd. we'll talk to the guy who put this thing on in a moment. dow down 230 points. nasdaq on the upside. we'll be right back. ♪ moving is hard.
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stuart: at risk of too much repetition i have got to tell you much of the decline in the dow off 200 points comes from one dow stock, that is 3m. 3m is down 10%. that is taking more than 100 points off the dow. there you have it. it is not quite the bad decline that it looks right now. professional videogaming,
professional, i repeat. league of legends big game, just wrapped up its 2019 season so to speak. chris hopper is back with us. riot games head of north american e-sports. chris, i want you to give our viewers some understanding how big these e-sports and the stadium entertainment really is. tell me what you got out of that st. louis stadium with that latest e-sports "league of legends" thing? >> absolutely. thanks for having me on again. great to be back. with our st. louis show we had about 10,000 people that were in the venue. it sold out almost instantly as soon as we put tickets on sale. it was a great crowd, incredibly passionate but we also saw a tremendous digital crowd, a tremendous digital audience that follows the game. we had over 600,000 people watching at peak. a couple million people tuned in over course of roughly five-hour event. we were really excited to kind
of see those numbers for our spring domestic finals, that weaves into the mid-season invitational this may. stuart: let me ask you this. i'm a financial type of gay. you put these events on. how much do people pay to get in? the 10,000 people there in real life, how much did they pay? >> we try to price our events on the lower end of the spectrum for what the venue normally sees the events go. we want to remove barrier entry for a lot of our fans. teenagers want to attend this don't have wherewithal to pay for $100 ticket. most people were paying in the 30 to 50-dollar range. when you add in ticketmaster charges, maybe a little bit more. we try to keep the price down. stuart: 10,000 people came and paid over 30 buck as ticket. nothing wrong with that chris, nothing wrong at all. >> not bad. stuart: you divide into teams, they compete playing against
each other, "league of legends." what do the wouldn'ters get? is there a prize? >> winner of the north american split receives $100,000 for the team. the losing team in the final relieves $50,000. more important for the winners they advance to what we call the mid-season invitational, that takes the champion of 14 different regional leagues around the world, korea, china, europe, australia, russia, et cetera, and pits them in the a battle of the spring cam champions. the winner of that tournament can take home a multimillion dollar prize. stuart: next season will you concentrate on league of legend. >> the sport is build around the game. you wouldn't see the yankees play basketball. our teams operate in "league of legends." we will continue to build this out, just like every other esport is focused on their title. we're extremely optimistic about the season to come. we have a lot of interesting stuff coming down the pipeline.
stuart: chris, i think it's a real break through in the whole concept of electronic sports. you're leading the charge. chris hopper, terrific stuff. very smart business. i have to say. thanks for being with us, sir. appreciate it. >> thank you for having me on. it is a pleasure. stuart: see you again. capitalism on attack from all sides. socialism on the rise for democrats. i think two issues are fueling this, climate change and income inequality. my take on that is coming up in a moment. plus, watch out, california. your next dinner out might be more expensive thanks to a climate change surcharge that some restaurants are adding to your bill. california, third hour of "varney" coming up next. ♪
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stuart: don't you find this strange? just as capitalism succeeds in bringing back prosperity it's under attack from all sides. and its exact opposite, ruinous socialism, seems to have a grip on the democratic party. sure looks like the 2020 election will be another round of the right versus left, tax cuts versus tax hikes, private enterprise versus government control, et cetera, et cetera, et cetera. how could this happen? when more people are working at well-paid jobs and the great american middle class is doing well again. i think there are two issues which are fueling the criticism of capitalism. income inequality and climate change. now, some powerful capitalists themselves are weighing in on this. ray dalio, mr. hedge fund, his company bridgewater associates, is the largest hedge fund manager in the world. he writes that inequality has created extremism and division. rich people, he says, may have
to pay more tax to raise the incomes of the poor. jamie dimon, he's perhaps america's best-known and arguably most successful banker, he too believes that inequality has soured the american dream. people feel left out, that they can't make it to the top, and he too says the rich may have to pay more. these guys are not socialists. they want capitalism reformed. on college campuses, socialism or worse has long been prominent, if not dominant, and we have this from harvard business professor rebecca henderson. she says capitalism was supposed to bring wealth and prosperity, but she says most of that wealth has gone to the 1%, and we are trashing the planet. that is a business professor, capitalism is not being properly controlled. i don't propose to argue here about inequality or climate, but it's clear to me that capitalism has powerful critics even on wall street, and academics,
media people and leading democrat candidates are leading way out over the socialist cliff. that's surprising, given our current capitalist prosperity. i guess i should have learned by now never underestimate the power of the media and the gullibility of those who do not study history. the third hour of "varney & company" is about to begin. stuart: yes, that fancy graphic didn't stay there very long but it's a good one. capitalism versus socialism. joining me is justin haskins, heartland institute executive director and foe of socialism. justin, am i right that what's fueling criticism of capitalism and the move towards socialism is, a, income inequality and b, climate change? is that the root cause of it all?
>> i actually think the root cause of it all is the indoctrination factories that have become the american education system. i think that our children are woefully uneducated when it comes to the history of socialism and capitalism, frankly, and i believe that over the past 30, 40, 50 years, really going back to the 1960s, kids have been taught a completely distorted view of what's been going on in history. they have not been told the truth about the power of capitalism and how capitalism has improved life for more people than any other economic system that's ever existed in the history of humankind. a hundred years ago, people were still using outhouses to go to the bathroom and now the lowest income americans walk around with super computers in their back pockets. this is the result of entrepreneurship and free enterprise, not government control and mandates. stuart: when a leftist comes at you and says wait a minute, income inequality is absolutely extreme, some would say that it
is. what's your answer to that? >> my answer to that is frankly, i don't care. income inequality is meaningless to me. what i care about is seeing the quality of life for people improve. that's what matters. the gap between the rich and poor is irrelevant if the poor -- if the quality of life for the poor is increasingly getting better and that is exactly what's happened. the poorest one-fifth of americans live better than many of the upper middle class and even wealthy in many continents on this planet. that's because of america's history of embracing individual liberty and free markets. stuart: let me come at you with this one. supposing an environmentalist comes at you and says we are trashing the planet and capitalism is to blame. what's your answer to that? >> i would argue that i see no evidence whatsoever that capitalism is causing the planet to go through any kind of an
environmental crisis. usually this has to do with climate change, the argument being that capitalism is causing us to go through some sort of man-caused climate change catastrophe that's going to occur 80 years into the future. frankly, i just don't see the evidence that that's happening. we are seeing the greening of the planet. we are seeing the quality of life is better than ever. crop yields are up. life is better now than it was 20 or 30 years ago and i don't see any evidence that modest warming is creating any sort of a climate catastrophe. stuart: we are going to get a lot of messages on this one and i look forward to seeing them. before you go, new york's governor andrew cuomo is slamming bernie sanders, saying america doesn't want a socialist president. give you 20 seconds on that, justin. >> i absolutely agree with andrew cuomo for maybe the first time in my life. americans do not want a socialist president. but i think most of the democratic party is socialist and i hope that the american people look past maybe some of the personal character flaws of
the president that maybe they don't like and look towards the success of his policies, look at the unemployment rate, look at the economy, look at what's happening overseas and recognize that the policies, the free market policies of the trump administration are working clearly, objectively, and reject the socialism of the left which has become really the foundation of everything that the democratic party is doing right now. stuart: all right. justin, i will send the e-mails your way, okay? you can respond to them. justin haskins, he's all right. thanks for joining us. appreciate it. okay. big board, yeah, we are still down but not as much as we were, off 186 points as we speak. by the way, charles payne, the "making money" guy, will join us shortly. we better check facebook. yeah, they made a ton of money off ads and the stock is up now ten bucks at $192. here to tell us how much is a new face on fox business to whom we welcome joyously, jack iie
deangelis. >> facebook stock up about 6% on a day where the market is trading lower because they had a blowout quarter by all accounts. here's the thing to look at. that revenue number, little more than $15 billion, $14.9 billion of it comes from advertising. they are absolutely killing it in that space. 93% of the ad revenue is coming from the digital space. so we are all doing it. we are on the facebook app and scrolling this stuff on our phones. what's making facebook so successful is the way they target us. i don't know if you guys have noticed in your daily lives, i have noticed, they are getting exactly to the products i use and things i don't use that i would use, they have sucked me in to buy them. stuart: wait a second. you use facebook. >> i do. stuart: they follow you, they know who you are, what you do, they know what you buy and all the rest of it, and they are targeting ads, see, i don't have facebook, i don't use it so i don't know what i'm talking about here. >> you are not voluntarily giving your information, but people like me are.
that's part of this conversation about privacy and everything that's going on. stuart: you are getting stuff directed at you, stuff that you might actually want to buy, and the price for that is giving them your information, you're happy with that equation? >> yes and no. when it first started happening it frightened me and i said i will never purchase a product from one of these ads, i'm totally against this. then i found myself saying but i really need that. stuart: they got you. >> they got me. stuart: hold on a sec. give me that statistic again. their revenue in the quarter was what? over $15 billion? of which $14.9 -- >> was ads alone. 14.3% was the digital side. stuart: almost $60 billion a year in revenue just coming in from ads on facebook. >> it's massive. massive amount of money. stuart: it's a huge position in the advertising world. >> people are worried about growth when it comes to facebook
so you have to look at it this way. projections saying this space could grow 13% this year, there is room to grow and they keep getting a bigger piece of the pie. we don't know exactly what the break do you kn breakdown is but they are taking that share from traditional advertisers that were getting it. you will see a shift and mix when it comes to this space. it's phenomenal, it's exciting, and the ftc part of it as well, that $3 billion to $5 billion they will have to pay, that brings you back to the fact users may be scared of this. if users back away, the advertisers will back away. stuart: so far. a fine debut performance. it will not be the last. you will be back if you're not careful. >> thank you so much. stuart: alexandria ocasio-cortez says the veterans administration is just fine, if it ain't broke, don't fix it. president trump agreed with her. whoa. coming up next, we talk to an iraq veteran on the true state of the v.a.
joe biden making his 2020 run official this morning with a video. watch this. >> i'm announcing my candidacy for president of the united states. folks, america's an idea, an idea that's stronger than any army, bigger than any ocean, more powerful than any dictator or tyrant. it gives hope to the most desperate people on earth. it guarantees that everyone is treated with dignity and gives hate no safe harbor. stuart: wouldn't you know, right out of the box, president trump responded to that. took shots at him, calling him sleepy joe. my opinion, the democrats have an old white male problem and we're on it. politics, the economy, money. that's what we do here.
stuart: today -- oh, look at this. today is take your child to work day. this is one of my children. this is angela. no child, by the way. you're in your 20s, aren't you? >> yes. want to take a stab at how old i am? stuart: no. i wasn't going to do that. i just wanted to tell everyone that angela works at fox nation. she has just produced a brilliant piece with pat buchanan, didn't you? >> thanks for the plug. yes, i did. stuart: if you've got any availability at fox nation, watch that piece. >> subscribe. stuart: we are out of time. coming up on a hard break. you know how it is. fine performance. >> thank you for having me. have to go back to work. ashley: well done. stuart: i have a tape of it, too. senator cory booker running for
president. put the camera on me now. single shot now. he says he will pick a woman for his running mate. joining us now, ally stuckey. all right, booker is playing identity politics. that's my opinion. what say you? >> yes, he is. not so sure it's going to help him, though. i think he is probably holding around 1% right now. i'm not sure this whole intersectionality thing is going to work well for him. according the a poll by "usa today" only 77% of voters said they don't actually care about the gender of the people on the ticket. it's probably more about personality and policies and things he stands for than it is about him choosing a female running mate, although i guess if there's really nothing to lose for him, he should try what he can. stuart: okay. joe biden, as you know, is officially in the race, came out with that video, the internet released video this morning. what are your thoughts here?
i have been editorializing, saying maybe joe biden and bernie sanders have an older white male identity problem within the democrats. what do you say to that? >> maybe so, but they are both polling really well right now. maybe even though the left talks a lot about caring about intersectionality, hearing a lot about gender and race, when it comes down to it, they actually don't. i do think bernie sanders and biden are going for two very different audiences. if you listen to the video biden put out this morning, he's almost speaking of conservative concepts that america was built on this idea. he almost didn't quite say america is the greatest country in the world which of course is something that is very popular among conservatives. bernie sanders is still going for people on the far left. so i do think they maybe attract the white voters hillary clinton might not have as much, but i think they have two very different platforms and it's going to be interesting to see which is more appealing. stuart: hold on a second. for our viewers who have not seen this video yet, i want to
run a brief clip. this is joe biden announcing. roll tape. >> i'm announcing my candidacy for president of the united states. folks, america's an idea, an idea that's stronger than any army, bigger than any ocean, more powerful than any dictator or tyrant. it gives hope to the most desperate people on earth. it guarantees that everyone is treated with dignity and gives hate no safe harbor. stuart: i think he's running on the theme america is a strong, valuable idea. your comment, please. >> right. i agree with that. of course, i don't think i agree with biden's policies but i do agree with his message which i think is probably what he is trying to do. conservatives believe, people in the middle do believe in a pro-america message. that's why so many people like donald trump. so many he's trying to get the people who like donald trump's pro-america, make america great
again, keep america great message but maybe who don't like donald trump's personality or the things that he's done over the past couple of years. that to me seems like what he is going for rather than bernie sanders' message of fairness and free things for all. stuart: i think you're right. i think his "i'm not trump but i love america." allie stuckey, thanks for joining us. see you soon. amazon's alexa, under fire again. privacy issues again. workers at the company reportedly can use location data to find users' home addresses. no incidents have been reported so far. amazon says quote, access to internal tools is highly controlled and is only granted to a limited number of employees who require these tools to train and improve the service. amazon stock up ten bucks, $1912. by the way, amazon reports its latest earnings after the bell today. that's 4:00 eastern time. we'll be on it, 4:00. other news we're watching.
north korea's leader kim jong-un and the president of russia, putin, meeting for the first time in russia. the world leaders discussed north korea's nuclear program and its stalled negotiations with the u.s. the white house announcing u.s. trade rep robert lighthizer, secretary of treasury steven mnuchin will held to beijing next week talking trade between the u.s. and china. they are going to be on their way shortly. on your screen, one world trade center, the freedom tower in new york city, 1776 feet tall, 94 floors, it's made the top 22 on the list of tallest buildings in the world but it's not the tallest. guess which one it is? the answer's next.
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comcast business. beyond fast. stuart: all right. the world's tallest building on your screen. that's number one. in dubai. it has been the world's tallest i think since it was built in 2010. the only u.s. building to make the list is one world trade center, new york city. 1,776 feet tall. it is the seventh tallest
building in the world. got it. russia has revealed the world's longest submarine, longe longest. which will carry nukes as in nuclear drones, i think. russia says they can destroy entire cities by causing tsunamis when detonated under water. cute. ashley: great. stuart: sea trials set for 2020. check the share price of ford. not doing much. hasn't for a long time. $9 a share. they are putting $500 million into a company called riveon to produce electric trucks and suvs. the stock is not moving. it's actually down. tesla, weak demand for their cars. they are losing money. the stock is down 2.6%, back to $251. by the way, elon musk, tesla's chief, has plans for a quiet electric leaf blower. ash, liz, we can all get behind that. ashley: electric leaf blowers
already exist. i guess this has to be super-quiet for it to be -- i'm a big fan of this. these things, i have lived everywhere, as you know. when i lived in california, those things were the bane of my -- i was younger, trying to get some sleep in the morning. i think they are banned in california, the gas-powered ones. question comes back to tesla and elon musk and why is he wasting his time with this. he says he's making it with made over -- leftover parts of the hvac system in one of his cars. do they really need to focus on that? liz: he's got $1.8 billion bond due, cash burn, but he's a guy who is like i'm in traffic in l.a., it's making me crazy, let's do a tunnel. he's that kind of guy. i think it's interesting, quiet leaf blower with a powerful battery. stuart: there's nothing like being woken up by one. the stock is down eight bucks. there you have it.
alexandria ocasio-cortez, says the veterans administration is just fine and president trump agrees. he says the va is doing great because he is running it. what a story. headline from "wall street journal." trump is unfit to govern. exactly how fit are bernie sanders, kamala harris or elizabeth warren? dan heninger wrote it and makes his case in a moment. the markets, we are down just 150. charles payne, the "making money" guy is coming up in a moment. i'm working to keep the fire going for another 150 years.
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stuart: big smiles here on the set because okay, the dow is down 150 points but a lot of that loss is accounted for by 3m, which is a dow stock, and down, i can't read it, down $22. that takes a bite out of the overall average. i need to bring in charles payne, the man who is the host of "making money." you have consistently said the stock market is going up, and you have been saying that for at least a couple of years that i know of. all right. we've got the dow very close to record highs, 26,400. are we going up from here?
>> i think it will. i really do. i tell you, i feel most proud after that december 24th report, that session, i told folks this was black monday, do not get shaken out of this market. i thought it was a pivotal turning point. look at the names on the screen, they're growing. it's not -- people always think they are chasing stocks. you got to think about this chasing fundamentals. the fundamentals keep getting better so the share prices should get better, too. stuart: that's what stops me from putting more money into microsoft. i've got microsoft, had it for a long, long time, but i feel like i'm chasing it. so i don't do it. >> people feel like okay, microsoft at this price isn't the microsoft that it was when you bought it. it's not the same ceo, not the same business model. this week they broke out new metrics for twitter and facebook. average revenue per user. because you can't keep growing the top line once you get 2.7 billion users but can you keep growing the money you get from them. now it's a different way, a different perspective. that changes the fundamentals
1,000%. that's what you got to understand if you are chasing fundamentals, that will help you kind of mentally compensate for the idea that i could have bought it at 20, do i buy it at 40. stuart: i have often thought in the last two years since the election of president trump, even before that, the market was led by big tech, the five big name technology stocks. is it still led by those stocks? >> you know, it's interesting because they led and when we were hitting new highs late september and october, over half the s&p names were actually down for the year. right now, about 440 s&p 500 names are up around that number. here's an interesting thing. 227 stocks are up more than 10% this year in the s&p 500. 140 are up 20%. you talk about the breadth being mind-boggling. this is a party where everyone is partying. before, to your point, there were a handful of names masking carnage in the market. now you have names coming around big-time that you would never think would be up 20%. stuart: wait a second. 140 of the s&p 500, 140 of them,
this calendar year, are up 20% or more? >> yes. stuart: geez. that's huge. >> it's a pretty broad rally. stuart: congratulations, mr. payne. >> thanks a lot. it can't say this broad forever. by the way, when you miss, you do pay a heavy price. anyone in 3m, ups or raytheon will tell you that today. stuart: "making money with charles payne" great show on this network, 2:00 p.m. eastern today and all weekdays. thank you very much indeed. see you later. headline and it comes, it was written by our next guest. look at it. trump is unfit to govern. however, there is -- ashley: question mark. stuart: question mark, yes. here's the subheadline which straightens everything out. exactly how fit are bernie sanders, kamala harris or elizabeth warren? dan henninger, "wall street
journal" guy, wrote that and the subheadline. he's with us now. explain yourself. >> yes. why are we talking about this. it is the most fantastic thing, stuart. hard to remember, but just a week ago, came the release of the mueller report. the mueller investigation ran for two years and every day for two years, there was just one question put in front of the american people and that was did donald j. trump or the trump campaign collude with the russians to steal the 2016 election. the mueller report comes out and across a whole range of areas, i count at least eight, george papadopolous, carter page, trump tower, they went through every one of them and the answer was no, no, no, no collusion, right? stuart: yes. >> so that was what we were all supposed to be waiting for. one week later, the media and the democrats have thrown the collusion story down the memory hole and now they have a new narrative, trump is unfit to govern.
because the second half of the mueller report which was about trump lying and obstruction of justice and so forth, and now they are going to subject us to this for two years. stuart: so do you think that kamala harris, elizabeth warren and i forget who else you said in your subheadline there, are they fit to govern if president trump is not fit to govern? >> well, the assault on trump is almost wholly because of his personality and his behavior. but we are talking about governance and i think we ought to consider the sorts of things that elizabeth warren and bernie sanders are proposing and the rest of them are. medicare for all. green new deal. massive forgiveness of college loans. free public education. all of this which in the aggregate cost multi trillions of dollars. it's a fantasy, stuart. we know it's a fantasy. yet these people are claiming they are fit to govern? then you have beto o'rourke and pete buttigieg who as far as anyone knows, neither one of them stand for anything, yet they are supposed to be fit to govern. stuart: i hope i never cross
you. i would be flayed alive. >> it drives you crazy. stuart: i think you are driving a lot of people crazy. thank you for joining us. representative alexandria ocasio-cortez says the veterans administration is fine and if it ain't broke, don't fix it. saying it provides the highest quality care for our veterans. president trump responded. here it is. ocasio-cortez is correct, the va is not broken, it's doing great, but that is only because of the trump administration. we've got veterans choice, accountability, president trump deserves a lot of credit. all right. come on in, don, former intelligence officer and iraq veteran. i think that aoc was saying don't fix the veterans administration the way you want to fix it because you're fixing it by allowing private choice. she doesn't want that, does she?
>> good morning, stuart. sorry about the delay. i think what aoc here thinks is perfect is, it is a perfect system from a socialist standpoint. you have 60, 90 days of waiting to get health care. you've got suicide hotlines that go to voicemail. if that's perfect, i don't want to see her definition of what else we need to fix. stuart: well, she wants government care. and she thought that veterans administration was government care. well, some of it is now private care. that's what she doesn't like. is she presenting a picture now of what medicare for all would look like, look like the va? >> i think in her opinion, this is what an example would be of medicare for all. you know, it's a good example. but it is by far not perfect. we have made some great strides in the last two years, you know, with the mission act. lot more veterans in rural areas have opportunities through their own health care providers,
through private health care, to seek outside assistance. you know, i've got a good friend, brian tally, who had it been under the old va, he was six weeks away from death. however, he went outside the va and saved his life. it's cases like this where va doctors are misdiagnosing and risking people's lives and they have no recourse for being misdiagnosed for malpractice. stuart: would you like to see the va not entirely privateized but move down that road toward more private market inclusion in health care for our veterans? is that the way you want to go? >> i think with the va, it has to be a geographic decision. where you are in a larger urban area where there's more opportunities, more vas, there's a situation there where you have the availability. but if you look at places like montana, west virginia, out in the midwest, they don't have access and when you have to drive two to three hours to see a va provider, or you get put on hold and have wait times, that's
unsatisfactory. stuart: don, we appreciate you being with us this morning. congratulations. we thank you for your service. liz: soldiers and veterans saying hey, aoc, bernie sanders and all politicians, if the va is so great, why don't you enroll in the va and get your health care from the va. stuart: when president trump says come on in, we don't want that. heaven forbid. thank you for that. check netflix. they are losing "the office" and a whole lot more. ashley: "parks & recreation" and "friends" very popular. netflix pays for this content but their competition is beginning their own streaming service and may want their content back.
the office, by the way, the contract expires in 2021. will netflix have to pay up really big? probably not because these people will want their content back. that means netflix is going to have to create a lot more original content, which they are doing, by the way, but it doesn't come cheap. stuart: no, it doesn't. ashley: billions a year on original content. that is going to be an issue. stuart: okay. we will take that in stride. ashley: yes, we will. stuart: when i get a netflix subscription. all right. another page of the california craziness book. a new statewide initiative would allow restaurants to put a surcharge on your bill to fight climate change. what? we've got the story. bernie in texas. he spoke at an event for women of color. wasn't well received. he was heckled, he was booed. you will hear it after this. hey, who are you? oh, hey jeff, i'm a car thief...
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california, charging restaurant customers an additional 1% to fight climate change. this is called restore california renewable restaurants, but it's voluntary. you don't have to pay. if you do choose to pay, the money goes to the california air resources board. all right, liz, that's part one, voluntary climate change surcharge on a restaurant bill. what's part two? liz: sacramento is talking about carbon taxes on all products sold inside california. in other words, raise prices in order to raise consumers' awareness about climate change. the question is, will that stop climate change. this is based on the carbon intensity of the products sold. who decides the carbon intensity in sacramento? where does the tax money go to stop climate change? so that's the issue. yes, you can agree that climate change is there, but is this the way to stop climate change. where does the money go toward, right, and who decides the carbon intensity of products. there's a carbon tax on
everything. stuart: the restaurant surcharge is voluntary. these carbon taxes -- liz: coming. stuart: may be coming. you have no choice. ashley: they will put the 1% on your bill. you have to physically ask them to take it off. they are putting pressure on the customer to say i don't care about the climate. they are going to shame you. stuart: senator bernie sanders faced a tough crowd at an event for minority women in texas last night. here's his response on how he will get black women to vote for him. roll tape. >> for black women specifically? >> i'm sorry? >> for black women specifically? >> the black women will be an integral part of what our campaign and what our administration is about. okay? that means -- >> hold on. >> okay. stuart: they gave him a very hard time. that's just a short clip. there was booing and heckling for a good portion of his presentation. former epa official joins us now. you have an upcoming piece titled socialist bernie's a h
hypocrite on capitalism, climate and women. i got that. tell me your response to what bernie, his attack last night. >> bernie sanders has a problem with authenticity and there's a lot of hype around him right now, but what people are coming to find out is he's another one of these politicians that will say something that sounds good in the room that he's in but then do something completely different, and not follow it up with substantive policy ideas like we saw last night. stuart: mandy, i'm going to interrupt you. at least the man has the courage to go into texas, and texas is not known to be socialist-friendly, and he speaks to an audience of minority women. he probably knew he was going to get a pretty tough reception. but the man had the courage to do it. i wouldn't call such a man a hypocrite. >> i think he has courage but he's hypocritical in what he talks about versus what he actually does. in the piece that you referenced that will be coming out tomorrow, i laid this out in terms of capitalism, he's
perhaps the worst offender. he talks about and runs on taxing the rich, but come to find out he himself is a member of this rich elite class. he loves to hate but he doesn't pay his fair share by his own definition. if that's not the height of political hypocrisy, i'm not quite sure what is. stuart: you think he's got a problem as a candidate because he's an elderly white male? >> i think he does in today's modern democrat party that has forced the intersectional demographics as a centerpiece of what they want to run on and what they want to talk about. and so he's going to continue to have an uphill battle to deal with the fact that he's a 70-plus-year-old man that is a career politician in washington, d.c. i would just point out for you, stu, this is exactly what american voters rejected in 2016 when they elected president trump. they didn't want someone whose success was built in the swamp. they wanted somebody whose success was built outside of the swamp and followed through with the promises that they made which is what we have seen under
president donald trump. stuart: mandy, i will read that piece that you've got coming out tomorrow. that's a promise. thank you. >> thank you. stuart: how about this one. the mayor of new york has a green new deal of his own. red meat in the crosshairs. he wants to cut back, not eliminate but certainly cut back on red meat served in schools and in hospitals. ashley: he does. climate-friendly. we don't have to rely on all the animals and cows and all of this. it's all part of the big picture. they already have meatless mondays in new york schools. now he wants to make 50% less meat for children. it's a healthier diet, he says, and is also helping the environment. stuart: i've got a problem. ashley: no skyscrapers, of course. stuart: certainly not. i've got a problem with the politicization of my children's diet. i don't particularly want anybody to come in and say this is good for you and it's good politically for you and it's good for the climate so you are going to eat this. i don't like that. liz: i hear what you're saying.
i don't personally eat red meat because i love cows, i feel badly for the cows. i hear what you are saying, a government bureaucrat saying you've got to eat rice or noodles. i know what you mean. stuart: it infiltrates all aspects of our lives. you've got no choice. better take another look at microsoft. it is now a $1 trillion company. look at that. the price is now $129.84, up 3.5%, nearly 4%. it's on a roll. microsoft, the trillion dollar company. however, 3m is a huge drag on the dow industrials. it is a dow stock. it is down 10%, $22. that takes a big chunk out of the dow. in fact, without 3m, the dow at this moment would be positive. next case. wait for it. on your screens right now -- liz: i love her. stuart: this is annalise,
stuart: thursday, april 27th, it is take your children to work day. i found that out this morning when i walked into the fox building and there's a hoard of children all over the place before 6:00 in the morning. i don't know how they did that. we have two children with us today who are the daughters of two of our excellent producers. on the left-hand side, annalise. good morning. >> good morning. stuart: so what do you want to be when you are older? >> a producer. stuart: a producer? really? a producer of a tv show like this? >> uh-huh. stuart: it is her third round on "varney & company." this is take your kid, i prefer the word child, to work day 2019. look who's here. annalise. annalise is the daughter of our 11:00 producer. that would be chrissie ambrose. she's your mom, right?
>> yes. stuart: this is your third time here. >> yes, it is. stuart: do you like being famous? >> yes, i do. stuart: what do you want to do when you're in your 20s, after college, that kind of thing? >> i want to be a police officer. stuart: really? why? >> well, because it sounds like a good opportunity to be a police officer. stuart: that is very true. that is very true. yes, it is. but dangerous, though, isn't it? but you don't mind that at all? >> no. stuart: you proud of your mom? she's standing right over there. you proud of her? >> yes. i am. stuart: annalise, it's great having you back. will you come again next year? >> yes, i will. stuart: you enjoy it, don't you? >> um-hum. stuart: that's good. you're all right. annalise, thank you very much for joining us. great stuff. we'll see you next year, i promise. okay? >> okay. stuart: good stuff. from producer to police officer. liz: i love it. stuart: we're not done. check this out. "fox & friends" the early
morning show on fox news channel, had a ton of kids there this morning. ashley: all kilmeades? stuart: look at that. no. annalise is in there somewhere. those are the kids at "fox & friends" early this morning. i think we have to include this. my daughter angela, she was here. there you go. that is my daughter. chronically embarrassed. liz: thanks for dragging me on, dad. stuart: didn't want to do this at all. pushed her into it. okay. i think that's it for take your children to work day. more "varney" after this.
jo dow industrials come back a lot. we were down 250. now we're down less than 100 points. this news coming from "the washington post" by the way. north korea presented america with 2 billion-dollar bill for the medical care of otto warmbier. that is the young man that came back to america in comatose situation and subsequently died. of the north koreans are billing us two million for his medical care. what is the development here? ashley: "the washington post" says the main u.s. envoy sent to north korea agreed to pay the medical bill on instructions passed down from president trump. something was signed in order to gem him out. he came back in comatose condition ultimately died. there's a lot more to the story. this is incredibly brazen and incredibly awful. it is just provocative. stuart: extreme, regardless of some piece of paper signed way back when. liz: it is beyond appalling.
stuart: this is cruelty, and highly provocative. good lord, we had summits with this guy. ashley: we've get response from the president. stuart: it is is outrageous. neil it is yours. neil: m is leading the singing ship. it was really a disproportionate weight on the dow taken out and the dow would have been positive. i don't know if that would still be the case given the complexions of the rest of the other figures in the dow. a reminder how one bad earnings report can turn an index around as one good report with the case of microsoft, with good numbers, change your view on technology, now a trillion dollar concern, lifting the nasdaq into record territory as we