tv Cavuto on Business FOX News November 9, 2013 7:30am-8:01am PST
year. >> this $10 minimum wage choice is a job killer. stay away from it. >> forget about minimum. you know who's really, really going to take it to the ma? come on. "cavuto on business." neil, take it away. from taking off without a hitch to launching like a, well, son of a glitch -- son of a glitch. anyway, hi. good to have you. i'm neil cavuto. and leave it to a service all about tweets to make washington look like a bunch of twits. twitter stock taking flight this week. you might have heard a thing or two about it. very little turbulence. all that preparation paying off on the big day. very different from washington's prep work for health care law's big day, which we haven't recovered from in all of these days. call it the difference between an ipo and an ip-no. ben stein, davgen mcdowell, and
charles payne. night and day. >> night and day. it boils down to one word, accountability. it's what drives the pri-is the sector. bottom line, new york stock exchange has to please members, shareholders and investors. they have to go out and do a fantastic job. this obama care exchange, it was driven by two things. ideology and ego. i want it on october 1. well, we haven't vetted it. put it out on october 1. that's what it boils down to, this president is not accountable. no one who works for him is not accountable, not just on this, but a slew of events. >> practice makes perfect, or at least not awful. they went through it on the new york stock exchange again and again and again to make sure it went off without a hitch. clearly, they wanted to make sure the launch went smoothly, and it did. lessons for the white house? >> well, they should have known
better. they should have tested the health care exchange website. >> well, they didn't. we're past that. >> and they had warnings in approximately saying there's a train wreck coming down the road. watch out. they didn't do anything. >> but he says he said that. you know, it's like these people, i warned them. >> he did say it. >> ok, fine. >> he said it in front of kathleen sebelius in a hearing. i believe it was in a hearing all for the public to see. >> he whispered it in her ear. >> it's about personal responsibility, to charles' point. and that means you get fired if you screw this up. we've wyet to see anybody lose their job, except the one chief officer at medicare and medicaid resigned, and won't say why he left. >> there's so many liberals in silicon valley, you would think they could ask adam to help them >> i'd be a lot more confident if they had. >> thank you. >> how many liberals are in
silicon valley? the guy who runs twitter is probably liberal, as is zuckerberg who runs facebook feeds obama whenever he wants. but if they needed experts, the left of silicon valley, was right there for them. >> look, you and your pal with the same first name are revealing, you know, your bitter hatreds here. >> bitter. >> obviously -- >> wow. >> it's either racism, bitter hatred. you can't -- that's why we have these problems, by the way. because the president is beyond reproach. you can't ever criticism him or you're bitterly angry or a racist. >> the only name i'm calling you is charles. you're both charles, right? >> what was your point, adam? you're losing us there. >> my point is that this has nothing to do with ideology or nothing to do with government, because as you pointed out,
neil, the nasdaq screwed this up with facebook. the private enterprise oriented nasdaq made a horrible, horrible mistake with that ipo. and it's not like they didn't know how to do this. they did. it's not like they didn't know this was a big challenge. they did. and they screwed it up. the only point being, that private enterprise can screw it up. government can screw it up. >> adam, i will take this up with ben stein, because i find you now tiresome. but i will -- i'm kidding. but, ben, i'm only saying here, in the private marketplace there's competition. nasdaq screwed up, so we go to the new york stock exchange. with the government, that's a one-stop shop, and it's a shock and that's what happens because if that screws up, there really is no alternatives. >> well, a few things with all due respect. launching something like obama care is about a trillion times more complicated than an ipo, even of a very, very popular website. >> absolutely. how about the practice part of it, though? >> well, that was a disastrous
mistake. and i think that the point of points, probably the best point i have ever heard on this show, and i've been doing it for a while, is charles' point about the sycophantic white house where people tell mr. obama what he wants to hear. he sees no evil, hears no evil, doesn't know of any evil. but when something happens, it's never his fault, and nobody ever gets fired. that is a real serious problem. accountability is everything in government. everything. >> but no one is losing their job. >> no. it's not happening. >> so what does that mean? >> like one dude has resigned. and they don't lose their jobs, and it's somebody else's money. when you're dealing with twitter, these are people -- these executives have money in the company. and ultimately how that stock does and how well that ipo goes off, goes right to their own wallet. >> three years, guys, three years to get this up and running. three years to launch it. >> i think our glorious host made the best point about competition. nasdaq screws up. you go to -- >> hey, that's me.
>> you know, if nasdaq screws up, go to the new york stock exchange. and the nasdaq is better in the meantime. that's what the private sector does. that's not what the government does. it will never get better. >> let's be fair here. first of all, the head of nasdaq didn't get fired. he was on an airplane right after the facebook ipo started. >> but in the meantime, he made the nasdaq better. he fixed the problems because, guess what, twitter and other ipos have now moved to the new york stock exchange. so competition makes him better. >> we are complaining and others are complaining of the white house. >> competition. >> it will get better too. >> not because we are complaining, it's because he lost money. it's the competition. >> your original point, the administration doesn't admit
mistakes. say your underlings are afraid to bring up problems. people are afraid to tell the emme ememperor he's nude, right? >> he didn't know what was going on in ben ghazi. you didn't know what we were listening to angela merkel's phone calls. you didn't know anything with the nsa. >> or the irs. >> you can breed an smeers where you don't know anything, but it's a terrible atmosphere. >> by the end of the week when he's apologizing and saying he's sorry -- >> did he apologize? >> you had democratic senators get a two-hour meeting in the white house, unheard of, with the president. you saw what happened in virginia. we don't know if we can survive this thing. his approval rating went down to 39%. >> but nothing changed after that meeting. he's not apologizinapologizing. >> that's where the ego and ideology comes into play. at some point, the president has got to bend or he'll ruin it for his own party. he's already ruined a lot of
other things. >> he said he's sorry that it happened. >> right. >> like a couple when they get mad, i'm sorry you're upset. >> right. >> i want to point out that bob grifield did apologize. >> always sticking up for your private sector cronies. >> ben? >> i love the idea that a president can take this thing saying i'm going to be responsible, mr. bush was not responsible, he was an imperial president. and we have the most imperial president of all time, cloaked in a folksy manner. >> and we've never had an imperial ceo, ben, who doesn't listen to what's going on in the organization. >> the president is a lot more important than any ceo. >> for now, ben, i'll take a leap and put you down as a maybe on the president. [ laughter ] >> when we come back, having trouble? sound like a tax hike? then call it a user fee. that's what some lawmakers are
doing to try and get more green, and that has some of the forbes gang teed up. up next, the food police are coming after your cookies. hide the kids. maxwell is not. he's on geico.com setting up an appointment with an adjuster. ted is now on hold with his insurance company. maxwell is not and just confirmed a 5:30 time for tuesday. ted, is still waiting. yes! maxwell is out and about... with ted's now ex-girlfriend. wheeeee! whoo! later ted! online claims appointments. just a click away on geico.com.
live from america's news headquarters. hi, everybody. i'm jamie colby. there's a solemn ceremony in washington. chuck hagel is making mistakes in arlington, virginia, laying a wreath at the iwo jima marine corps memorial, as part of the celebration of the marine corps tomorrow. it's also part of veterans day festivities this weekend. also, russian cosmonauts getting in the olympic spirit by bringing the olympic torch on a spacewalk for the first time outside of the international space station. russia will host the winter olympics next year. for safety reasons, the torch will not be lit inside the
station, good call. it's the second time the torch has been brought into space. i'm jamie colby. keep it right here on the fox news channel. back to neil cavuto and neil cavuto ne"cavuto on business." look out, dough boy. the feds are fed up, and they're hunting your fat i can say that. i had no idea. the government is pushing to eliminate so-called transfats from all food products. you can find them in things like frozen pizzas and chocolate chip cookies. this has a lot of food companies that have been cutting back on their own, but apparently it's not good enough. >> we always have this debate. this is more in my mind a nanny state stuff. there are so many alternatives when you shop. at the end of the day, parents are responsible for what their kids eat and adults are responsible for what they eat. you have to wonder where to draw
the line at this i know better than you. this is what the obama care is all about. i have a better insurance policy for you even if you can't afford it. >> but what if people are ignorant about the dangers of transfats? would the argument be, well, we studied it, it's dangerous, and we think it's best that you don't have it. >> take out a flyer or commercials and inform the american public that maybe you shouldn't be eating this stuff. but to outright -- >> make outlaw the pillsbury dough boy's picture. >> put him in a t-shirt that says, i might be hazardous to your health. i don't know where you draw the line. bacon is bad for you. there's all kinds of studies about how that's harmful. >> really? >> ban bacon? ban pork? i just don't get it. i don't know where you stop. >> i'm going to get mad when they start banning vodka. i'm waiting for that. ban vodka and everything else. >> now we know, charlie.
>> adam, what do you make of this? of course, you worship at the altar of the nanny state. so who am i talking to? what do you think? >> it's not about the nanny state. the medical profession is clear on this. it's one of these things that it's not even up for debate. when something is bad, progress dictates that we do our best to get rid of it. >> but the transfats were not bad before. now they're bad. saturated fats were not bad. then they're bad. we keep changing this. >> well, look, there's responsible ways to drink vodka and to eat bacon. and the medical profession overwhelmingly believes there's no amount of transfats that's remotely good for you. and so, again, we're making progress. >> ben stein, how do you weigh in on this? i think it's our choice. >> it's unbelievable. i keep thinking could this discussion conceivably have happened in 1953? could we have imagined the government telling us what kind of cookies we're allowed to have
in 1953? >> like jim crow. >> no, no. that's not the relevant point. the relevant point is, could we have imagined this kind of interference with our freedom 60 years ago? would have been unimaginable. and now it's only a minor debate. >> ben, they probably didn't know transfats existed in 1953. >> i wonder how many -- >> we know it's bad for you. they had no idea. >> i want to ask any -- i'd love to know how many deaths have been clearly caused by transfats. give me a number. and why would we be telling people -- why don't we tell people not to drink? i have seen the effects of alcohol and vodka. there's a very good thing to outlaw. you want to outlaw something, outlaw vodka. >> vodka is worse than transfats? >> are you killing? alcoholism is a murderous horrible disease. >> but we have an obesity
problem in this country. people are dying of diabetes. >> and we have an alcoholism problem too, charles. >> hold up. >> i want to go back to there's going to be more government pressure to outlaw things that are bad for us to keep us skinny as the government foots the bill for more of our health care in this nation. you've seen it in new york city with mayor mike bloomberg, and you will see it more and more -- >> we'll have more on that. charles, can i ask you this? i'm just wondering, we have seen a slight decline in the obesity rate in this country. i'm doing what i can to hold it up. but i wonder if the ones who are arguing for this can argue back, see, it's working. michelle obama. it's working. >> i think we were seeing that before, just like cigarettes and other things. you brought up how many people know about transfats. and charlie mentioned in the last 50 years, people know about these things. i don't think anyone goes to mcdonald's and thinks it's good for you. >> wait. it's not? >> here's the thing, though. i do want to say, you know, i
find it interesting -- >> that was a good one. >> the government is saying it's ok to smoke marijuana, but don't take transfats. you can't do one without the other. >> yeah, right. >> let me ask you this. >> you're hungry. >> what's going to happen if we ban transfats? is the crappy food going to taste bad? >> you ban this, you ban that. >> i understand that. so you ban howitzers because if i can't have a bazooka, i don't want a gun. >> are you for it or against it? >> i have no problem with it. >> with what? >> bans transfats. why do we need it? >> you're like the -- >> well, why do we need vodka? >> there's a responsible way to have one drink a night. >> vodka has its place. >> without vodka, i couldn't get through the night. are you kidding me? >> adam, finish that point. i'm sorry. >> my point is ben's changing the subject. there's a responsible way to
drink vodka, because vodka can be abused doesn't mean we eliminate it. the point of the medical profession, ben, is that there's nothing good to say about transfats. >> do you know how much transfats you could have to eat to cause fatality? do you have any idea of the quantity involved? >> the medical profession has an opinion on this. i don't know what it is. >> godfather pizza. you had him on the show 10 years ago. you said you ran a pizza company. how did you stay so slim? he said, i have one slice, and that's it. we're talking about responsibility. >> by the way, that's horrible pizza. >> italian americans do not think that's pizza. the ultimate conundrum for my buddy, ben stein. vodka filled cinnamon bun. when we come back, a dollar bill. this guy might be the next mayor of new york city, but he could cause everyone in the u.s. of a. a lot of bills.
>> this is our future. from a victory in new york city to potential financial sector in america, the big apple new democratic mayor de blasio has some on wall street worried. do you think americans have a lot of reasons to be worried. >> i'll stop calling de blasio comrade de blasio the minute he stops giving aid and comfort to the santa rista rebels. he gave aid and comfort -- >> what does vit to do with money issues now? >> he's a socialist. i refrained calling president obama socialist. he did not nationalize banks. they bailed out the auto companies -- >> but right now, america -- charles, the fear is he wants to raise taxes on the half million dollar overcrowd to help out education. he'd have to get approval in
albany, which might not happen. he thinks banks having done enough to give back pain they caused people. rich people haven't paid enough. fall-out is what? >> you attack wall street and you take away the profits. the poorest people in new york city become more. i could hurt the country. 44 of the fortune 500 companies are head quarterbacked in the city. >> i -- are headquartered in the city. >> the power that he answers to the union. he has to negotiate the contracts . 300,000 workers. they want billions of retroactive raises. you watch out if he gives them power. >> are you watching out there in lala land? >> ben says the democratic party see how he creamed the republicans and they are saying leftward, ever leftward young man. that is scary. >> adam, you found your patron saint. >> the high-level analysis is
right. the voters are willing to approve higher taxes. bill de blasio is more than -- >> put this in context. socialist is running the financial capital of the world. >> a.b. >> not a socialist. >> charlie, dagen, thank you very, very much. up next, another major retailer opening early on turkey day with big sales. are you biting? t paid to do somg you really love, what would you do?" ♪ [ woman ] i'd be a writer. [ man ] i'd be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] i'd be an architect. what if i told you someone could pay you and what if that person were you? ♪ when you think about it, isn't that what retirement should be, paying ourselves to do what we love? ♪
holiday stocks. >> they have reiland all wrong. it's a screaming buy down here. it's oversold. >> adam in >> applied materials. the big semi-conductor equipment neverer going through a rough patch, a big merger. inexpensive. >> ben, how about you? what are you doing these days? >> this is low p.e. >> ben, does the raging market cool down? >> it has to.
it hat to. trees do not go to the sky. it has to cool down. >> don't go to the sky. got you. all right. cost of freedom. the place for business. ♪ ♪ so we still don't know the official enrollment numbers for obamacare. the white house won't release those until next week. but what we do know is most of the people signing up for older. not the younger healthy ones who are needed to keep the new bureaucracy afloat. does that mean big premium strikes are coming for all? let's go in focus with steve forbes, rich karlgaard, morgan brennan, john tandy,. are they coming? >> young people think they're immortal. they won't sign up unless they