tv Your World With Neil Cavuto FOX News December 9, 2016 1:00pm-2:01pm PST
>> we got donald trump still peek to a vowed in louisiana and on the right of the screen they call this a melt-up. 142 points added on to the dow average today. a record. by the way, and it is inches so close to dow 20,000, about as i say here, 243 points away. the rate we're going you can do that in a day. now, a lot of that, of course, buoyed by donald trump and what is planning to do and growing optimism whatever he does will be good for the economy and you have to wonder about a market
oft not taking a chance to take a breath. and the s&p in record territory, nasdaq, growing optimism that after is going on here, this end of the year rally we see going on, which is not unofficial in this period, in the few weeks before the end of the year. this is an exception, though. we have never seen this in recorded history in that gap between a presidential election and the new year, let aknown when the new president is sworn in, is this a case of optimism for the right, overoptimism lead to reality to sell ago the fact rather than buying on a rumor? let's ask our market watchers. brian to you first. what do you think of this? >> i think it's incredible. it's unprecedented. we have been starve ared to growth for a very, very long "time" and trump has been unapologetic about wenting to grow the economy and backing it
up i cabinet pick whose want to do the same thing, whether it's price, pruitt, puzder. talking about regulatory cuts and being driven by trump's vision and the way is executing with his cabinet pits. >> always interesting to pace the anticipation of something, and the old market analogy of buying on the rumor or whether this is justified. what do you think? >> i'm looking at the vic, the volatile index and that's -- it's at a negative 6%. >> was dot that mean. >> that basically means that there is a lot of volatility, even though we're saying this upward trend, a lot of volatility that might indicate that the investor can are starting to slow despite the fact they're excited about what president-elect donald trump mail be proposing. the cape index, which is what basically compares the price of
stock ray shores to what they'reerning, is trading at 27 times. to that is -- getting dangerously close to stocks being a little bit overpriced. so we might see some pullback and we have to think about that the interest rate might raise by the end of the year, two. janet yellin said she might raise the interest rates. that will caw -- >> that heap next week. >> gary b. smith. if you were advising people and a young person comes up and says, gary, i've been watching you, i haven't been in this market. want to get in now. don't want to miss this thing. at these levels what the market is doing right now, at the close of trading today, what would you tell that person? >> well, there are signs to worry but i think i'm more in brian's camp and i would advise that person to get into the market right now. i don't know if i would give 100% but maybe 80%.
my thinking is this. think we have been, if you've will, under war, under siege. the economy has been, like we were in world war ii. after world war ii the market nearly tripled from 49 to 55. i don't know if this market is going to triple but feels like the fury of the great economic forces are being unleashed. i think we'll see a rally like we have never seen before. it's scary for sure. but i like this market right now. >> brian, the one thing you have to worry about -- i always posit this. fair and balanced view there is could be a little bit of activity that doesn't acknowledge the prospect of interest rates going higher than a little bit higher and some of the expectations don't pan out or people get imparent i patient when the don't see the economy booming. your we're not setting ourselves up for the possibility of
disappointment. >> certainly execution risks. the market has been driven by what trump is promising in cabinet picks but in new year it's going to be all about execution. get legislative priorities passed. that means working with college and you know that gets messy, so if expect 2017 to look much messier in the market because so much is going to depend on factors outside of trump's control. going to have to work on a longer term negotiation with congress. >> you know retail as well, and people are shopping, we don't have hard and fast numbers to go by but their obviously shopping like they haven't in some years here. so, they're feeling something, and they're opening their wallet. you expect that to continue? we're we're not seeing the levels quite like we saw prior to the recession but we're seeing consumer sentiment go up, which indicates the consumer is feeling better. to quote alicia, the market is on fire and people are going
bananas and loving it. think to gary's point there needs to be diversification. if don't know if people want to jump in. all toth right now. going to be a dip. but diversification is the key. >> top that, gary b. smith, alicia key yes. >> i think the one key to look for that i think is almost a sure sign is look at the prices of existing homes. when those start to creep up, it means people feel more money in their pockets, they're feeling richer. you start to see that moving up. i think the stock market and everything else is going good. agree with brian. there are some hurdles out there but trump -- exeat for trade which i disagree. we hadn't to do the right thing and will do the right thing. >> guys, great reads. again, new record for the dow today. we should posit, the federal
reserve is expected to raise interest rates next week, but this time that does not appear to be a worry. they're hiking raiths for all the good reasons and the economy is percolating. we still have no word of a secretary of state. more and more cabinet positions are being filled out here but still no word on who will be donald trump's secretary of state. arguably the most important of those cabinet post. to author newt gingrich. speaker, that do you mak of that? growing talk now that they widen the pool out of possible candidates beyond rudy giuliani initially throughout to be the front runner, then to mitt romney, then now the word seems to be exxonmobil ceo getting a closer look. what's going on? >> actually temporary good thing, and let me say about your last conversation. the number one challenge for they ever entire republican team, house, senate and white house, is going to be to take the trump rally and turn it next
year into a trump reality, and if they've do that ex-e economic growth with boom and the market will be underpriced because of the size of the american economy once it's unleaders after the last eight or nine years of stagnation. >> if the economy does grow to extent that many hope, all of a sudden corporate earnings will pale by comparison. >> if you put that into context, i think -- i'm actually reassured by the way president-elect trump has been approaching the secretary of state job. he has talked to a lot of smart people. people like condi rice, henry kissinger, thought about the job. given the degree to which he wants america to have a stronger role oversee -- overseas and requires a secretary of state strong enough to fix the state depth one of the weakest, i think, and most destructive of american departments.
he is look for the right kind of person. i think he has gradually begun to realize that device ice -- dwight icen here white house was when he picked dullless, an international lawyer, made a very, very good living, working on real deals, real contracts, real negotiations, not a bureaucrat, and so i think he has drifted more towards people like mullaly at ford, tellerson at exxonmobil, people who have been in the real world, negotiating with governments, getting deals done that they had to implement -- >> what due kuo blake of the fact that rudy giuliani has not been seen at trump tower for a couple of weeks, people wonder what happen to chris christie and the days he was regarded as someone who earlilien riecksed political capital -- here's earl who would who we are big
supporters, there isn't always a quid proow but what do we reed loo that. >> in rudy others case there were two or three jobs he would loved to have said yes to didn't want anything. i flurries he said the only thing i want is secretary of state. and trump, for whatever reason, said i'm not sure. trump was the one elected president. this is his decision. >> i think when it came to mitt romney, you went on the air and start saying horrible things about him. thinks trump said, there goes that one. >> no, no. all he had to do was follow my good friend, sean hannity kept re playing his nastiest commentses about trump. >> everybody knew that. let me switch gears here. donald trump is apparent live indicated that he will still be playing a role as an exective producer for sell be e "celebrity "celebrity apprentice" he is
president the united states. what do you think of that? >> i think is weird. >> you think it's appropriate? >> it's weird. i don't think it's relevant. first of all they're not going to pay him enough money to matter if they pay him at all. he's doing it pro-bono. he doesn't need hit name the print. he is going to be the executive producer of a the american government and a huge tv show called leading the world. he ought to just relax, give executive producer to eric or donald or ivanka and keep moving forward. i think he is still going through some transition things here where it hasn't quite sunk in totally. this is the hardest, biggest, secular job in the world. only the pope rivals it and the pope has a kind of help that trump can't count on. >> but the pope can tweet and does tweet. we know that.
do you think -- distinguish that maybe this weekend, if there is a live "saturday night live," he shouldn't watch and if he does he shouldn't be tweeting about it? >> i think he should watch and i don't mind if he tweets as long as he has one person who edits it. the country gets into his tweeting and it's been effective but has to have an editor, i say this as a guy who has done the same thing. can't sit there and have 11:15 at night have a whacky idea and send its out to the planet. he is president of the united states, no longer a rich businessman. now the most importance, the most powerful secular job in history -- >> no doubt. >> and has to grow into that. that's a honest. >> you mentioned "celebrity apprentice" and now this talk that mark burnett and he could actually coproduce an install ural extravaganza, it could even involve a fifth eave parade event before washington.
what do you what i can of that to have a burnett type produce an gnawing all extravaganza. >> i think if the president-elect wants to commission a friend of his to produce an straff began sackerring that might be fun -- extravaganza hopes there we be more of that in the convention, trump is a showman, remarkably successful in so many different fields, including television, including miss universe, so if he wants to put on an unusual show, i'm working right now on a project so that every town in america that wants to could put on a local trump inaugural party and be linked across the country so we have taken the inauguration to the whole country, out in just washington, dc. >> open you have a merry christmas. >> thank you. >> sam, my producer here tech tis video last night in new york. a trump mobile, make america
great again. that's what we were showing you. but it just struck sam as interesting because the middle of this, it's a guy -- and it'sen iconic sign of our times. listen. ♪ see ya next year. this season, start a new tradition. experience the power of infiniti now, with leases starting at $319 a month. infiniti. empower the drive.
protect our country from terrorism extremism we will suspend immigration from regions where it cannot be safely processed or vetted. >> from president-elect trump a few minutes ago in louisiana. this might have been the catalyst for that latest plan. a new report from the european union who says more than 1500 isis fighter fleeing you were are europe are now in europe ready to carry out attacks. with a new terror in amsterdam
and other isis fighter with a loaded ryou heard this before s, they're building for something here and donald trump is saying i want to make sure that something doesn't get here. could it already be too late? >> certainly could already be too late. there could be people here, probably and likely are, that doesn't mean that you don't make efforts to stop anymore from coming. you want to contain the problem as much as you can. >> it are it was the rifle found with -- russian rifle in rotter dam but continues a series of such i incidents. from your vantage opinion donald trump is saying we're going to track down on the cases we don't know, freeze cases we have any doubts about, but he is already getting backlash from folks saying that he is going too far. you say what? >> no, definitely not going to for a and you can break this into two problems.
a refugee problem, number one thank needs to be solved, number two it's an immigration problem as well. those have different solutions. they'll take very creative thinking to come up with whatever he is calling extreme vetting. just more thorough vesting. that absolutely needs to be done. >> now, he has not gone so far what he said early in the campaign, put a freeze on all muslims trying to get into country. trying to clarify those who could wish us ill but when it comes to refugee so little come with paperwork bass they flee volume tall -- volatile region and don have the proper paperwork, what do we do. >> exactly. you have two approaches to begin looking at that. one, establish a place in that region, why do we need to bring them here? we can have the money, resources d.c. -- wet sun massive camps in all sorts of places overseas and
can do the same there. and if you have to bring them away from the region we used guantanamo bay before. so we have had 50,000 cuban refugees there, haitian refugees there and then we can do a more thorough vetting of the populace before bringing them into our country. >> given the isis presence in europe and the fact that this president, the outgoing president, barack obama says the isis thing kind of surprised him -- i'm paraphrasing that here -- it might be too late, particularly for europe. >> absolutely. it's not too late. that doesn't mean you don't mange an effort and don't up your pieces. so, are they already there? i have no doubt they are. they've already infiltrated, i'm sure there are pieces that are here but that's a separate problem. one problem is stopping, don't add more and make the problem moe.
don't ex-dub make it worse. >> thank you for your service. we're just getting word, statement from the president-elect, from trump truck regarding rudy giuliani, that mayor giuliani has removed his name from consideration for position in the new administration. that would presumably include secretary of state. a position he really wanted but appears to be passed over. he was offered we're told other folks, including homeland security. can't connell if i -- can't conm that but now no position at all in a trump administration. more after this. ing emojis. speaking of tech wonders, with the geico app you can get roadside assistance, digital id cards... or even file a claim. do that.. yeah, yeah that should work. it's not happening... just try again.
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widening difference between the rich and poor, big names ceo and they're work erred. well, companies now in portland, oregon, will be facing a new task forcings them to pay up if their rowe ceo easterns more than 100 times of the workers there. here's the idea that came up with the idea. steve novak. commissioner, very good to have you. already once this was announced, sandra mcdonagh, the alliance president, local version of your chamber commerce, assist said we think it's better off working with business leaders to create more jobs that will lift people up and improve income. this is not that. what do you think? >> well, i would say at that time extreme economic inequality is next to global warming the biggest problem of our time. the riches one percent and the one-tenth of one percent have far more income and wealth and power than 40 years ago and it's been economically destabilizing,
socially destabilizing, politically destabilizing, and extreme ceo pay has been a major driving force in the creation of extreme economic inequality, and it hasn't always been this way inner he 19 ofs when the american company was at the envy of the world the typical ceo made about 20 times what the typical worker made. i'm just trying to make america great gain. >> aren't you chasing out the hand that feeds you here? let's say if this were to apply to nike in beaverton, that could we be looking at paying this money and wouldn't go elsewhere. so, between that and cast parts and ported general electric, northwest natural gas -- >> this is a tax that applies to the proficient of ---- profits a company make inside oregon and there's 500 big companies that are subject to our business
income tax. a tax on corporate profits. a company is not going to stop selling shoes in portland because they're paying a slightly higher tax on corporate profits. >> if that applies to walmart or some oth big names that do business -- >> exactly. >> do you tech -- >> william is notice going to close their steers. >> to due you snow? a tough enough time that the margin -- this might make a big enough difference. >> when they paying an extra fraction of a percentage on profits in portland? no, they're not going to close stores. >> how would you know that? if you looked at the latest news week but it's interesting. talks about automation and the trend that so many companies are taking, and that was before moves like this. but between higher wages and the like, a lot of companies are deciding a better part of valor might be to have a machine. >> well, i think that walmart is going to continue to employ people, and again, this is the task on -- tax on corporate profits. companies have businesses in
portland because they have prices here. if they have to pay a slightly higher tax -- >> what -- lead he finish. >> here's the -- deowe ceo says, i'll push my compensation back either in stock and delay it out and spread out over years so it's not so dramatic so i meet the commissioners margining you say what. >> well, this -- this is based on the fec rule saying that publicly traded companies have to provide the ratio of ceo pay to typical worker pay that includes things like stock options. if ceo decide to make less money and pay their workers more money, that's great. that's what we want to achieve. >> what hpens -- >> what will think will happen -- >> your state's general fund right now when it comes to pension cuts, facing $1.7 billion shortfall. you would need companies help and strength on all angles and all sides to be vibrant and contributing to the tax base.
>> neil. the corporations of america were quite vibrant 40 years ago when ceos are not making hundreds of times the typical worker is paid. in fact they're quite successful companies lime whole foods that deliberately do not have huge gaps between ceo pay and typical worker pay, and in other countries like nick western europe and japan you do not have these extreme gaps either. what you have seen in the past 40 years 'is an explosion of greed bad for the economy in fact studies show that companies pay their ceos ex- -- exorbitant amounts do were. >> a company doing business where i whatnotted to this is going on and the noise are friendly. quoting from an oregon business report as of yesterday, quoting the decline in office and administrative support and industries that rivals the decline of production jobs here in oregon. women without college degrees
are seeing middle wage job losses and the vast major you of judgment and have drown out of the work fours. how -- work force. how is that going to help. >> this could help a lot of people because if the shareholdded in america realize they're playing a higher texas on profits because they overpaying their ceos they can decide they're better off paying the troh crowes less and -- >> do young it makes sense for a ceo to make 300 times the typical worker base? you think any one person is worst 3line time -- >> they a decision must make. it's not up to you to tax the company. >> we use the tax code to promote certain behavior all the time -- how is that work naught portland. >> we have a home mortgage interest deduction which is intended to promote ohm e home owner scheyer. a charitiable deduction which is is intended to promote charitable contributions. this is to promote corporate
behavior, to equate greater equality in our society. one reason donald trump won is he did a better job of hillary clinton to appealing to resentment against the rich and powerful. >> whether you're going to entice the kind of modify that would fund and help support a cancer institute, when that money might be siphoned away and look wells. >> in the 1960s when corporations weren't pairing the crowe crazies hundreds of times what the typical worker made, -- >> i forwards that. this might happen do your nor only guy dying that. >> i do note think phil night is going to back an on his commit little to cancer research because nike is playing a slightly high -- jeer he is retiring there -- >> on the profits that make -- >> commissioner, thank you very mump. we'll watch it very closely. more record on rudy giuliani taking him out of consideration for a cabinet position.
in the trump administration. rudy giuliani is next to tell us why. ♪ looking for clear answers for your retirement plan? start here. or here. even here. and definitely here. at fidelity, we're available 24/7 to make retirement planning simpler. we let you know where you stand, so when it comes to your retirement plan, you'll always be absolutely...clear. ♪ time to think of your future it's your retirement. know where you stand.
out of the running for any cabinet position, that is any cabinet position in a trump administration. don't know exactly what happened or how it transpired or when it all transpired, but on the phone with us is the mayor, rudy giuliani. mayor, good to have you. >> well, i decided, i guess it was about ten days ago, november 29th, that the whole thing was becoming kind of very confusing and very difficult for the president-elect and my desire to be in the cabinet was great but it wasn't that great, and he had a lot of terrific candidates, and i thought i could play a better role being on the outside and continuing to be his close friend and adviser. that's the role i played during the campaign. never worked for the campaign, never part of it. gave me a certain degree of
independence. and being abe to give advice, and i saw that he had so many good candidates available, there was no reason to complicate his life any longer. so i withdrew back on the 29th , but -- >> on the 29th? so this is obviously some days ago. what did he tell you at the time? >> well, at the time they said they didn't accept the letter. and therefore they wanted to still hold me in consideration for the state -- >> who told you that, mayor, if you don't mind? >> a number of different -- >> donald trump. >> a number of different people. but then today, we agreed it was worth releasing it finally. >> what was your final conversation with the president-elect? >> it was, this is a good time to do it. they're down to the last two, three, four. so, it makes sense to just get out of the way.
>> you're talking about the last two, three, four, presumably for secretary of state position? >> yeah. honestly, the other positions i didn't have an interest in. so that really -- that was the only one i had any real interest in. but it wasn't so overwhelming that i'm tear my disappointed. -- terribly disappointed. would like to do anything i can to happen the president-elect. if he had a need he couldn't fill i would have done it but hi has plenty of people that can fill that need, and a. extraordinarily happy in what i do, so when i joined the campaign it wasn't as if i was looking for a job. just kind of emerged after the campaign was over. >> when did it change or -- you talk about the process at the beginning, mayor, when they -- all of a sudden out of nowhere mitt romney emerged as a
candidate for that position. what did you think of that? >> well, i probably agreed with newt and with mike huckabee and a group of other very loyal supporters of president-elect trump, i thought mitt went over the line in the things he said about donald trump, and the president-elect is going to make his decision. i will support that decision. but my advice would be, mitt went just a little too far to -- you can make friends and make up, but i don't -- i would not see him as a county for the cabinet. >> the fact that since mitt romney dined with donald trump, that the pool has expanded all the more, including meetings with senator corker and of
course with the exxonmobil ceo who seems to be getting mentioned more often, was that a sign that donald trump now wasn't looking so favorably on mitt romney? >> i don't know. i think john bolton has to be considered in mix. john probably be my choice, i think john is terrific. >> did the team give you any indication, mayor, taking yourself out of the running who they were leaping towards? -- leaning towards. >> i'm on the transition team which complicated everything. i'm on the transition team but for the state department. in other words i'm recused from the state department but i'm in all the other decisions that go on. so -- >> were you offered homeland security? >> i am not going to discuss other positions that we discussed. >> but they did discuss other positions? we discussed other positions.
i'm not going to say whether i was offered them or not. >> but is it fair to say that the only one that you wanted, if there was one to consider, would be secretary of state. >> that is fair. that's absolutely fair and that -- if indicated privately and publicly. >> what about your business connects -- much had been made of that, that it would complicated -- plane not compromised your getting approved but that it it was a wrinkle that the campaign or the transition are signature team didn't want. >> i had them vet me. i went through the entire vesting process so that i could -- i didn't want that question lingering, so we spent four days before i submitted this letter, going through the entire vetting process, of all l the clients i had, all of my tax returns, all of the business arrangements i had and up in of them would amount to anything. not even a conflict of interest.
and i've been doing business for 14 years, and i've never had an accusation of anything. never had a regulatory violation, so i wanted that because i wanted to make sure that the business came out of it are it squeaky clean, chit did. it -- which it did. it is true i poke in many countries but they were all basically private and about subjects i'm an expert on. last night i got the award from the defense department of colombia for helping to reduce crime and eliminate the farc in columbia -- colombia, so i do do business all over the world. >> you didn't think it would be damaging to your prospect inside you mentioned the process again and much has been made -- there's no way to hide the trump tower going in or out. you can try different entrances. very difficult not to be noticed. did you find this process
demeaning or others have said you can't escape the glare? what? >> i found it transparent, which i think is good. put me aside, would i rather go in privately and have it all discussed privately? me as a person in probably. but from the point of view of the and can the job that all you have to do, and looking at candidates, i think it's a good way to do it. i think it's good for the public to see the four or five -- >> are into your note bit are. >> so you're not bitter. >> not at all. i'm a very happy man. very happy in what i do. donald continues to be one of my -- the president-elect donald trump continues to be one of my klosees friends. i'm going to the army navy game with hill -- with him tomorrow. i'm available for advice 24 hours a day, and if sometime in the future something else opens up, i am certainly open to
talking to him anytime he has a need that he can't fill anywhere else. i'm the guy. >> rudy giuliani, america's mayor. hoping to be the next secretary of state or any other cabinet position. more after this. that just tastes better. so fresh from the farm. delicious. perfect. only one egg with more great nutrition- now with 5 times more vitamin d, 10 times more vitamin e, and 25% less saturated fat. only one egg good enough for my family. because why have ordinary when you can have the best. eggland's best. the only egg that gives you so much more: better taste. better nutrition. better eggs. better nutrition. mapping the oceans. where we explore. protecting biodiversity. everywhere we work. defeating malaria. improving energy efficiency. developing more clean burning natural gas. my job? my job at exxonmobil? turning algae into biofuels.
it's official. rudy giuliani, taking himself out of contention for a cabinet position in a trump administration. here is what he said. 4. >> they're down to the last two, three, four. it makes sense to just get out of the way. >> talking about the last two, three, four presumably for the secretary of state position there? >> yeah. >> all right. to mary kay henry. i might still get into other things. but first on this and what you
make of this. >> on the labor secretary or on rudy giuliani? >> taking himself out of the cabinet position. >> i think that he expressed it well when he spoke to you. and i think the key question for us, neil, is what is president-elect trump signaling with this series of nominations that he has already announced? >> you don't like the fact that a lot of them have a lot of money. and i guess rudy giuliani would have been in that camp with a lot of money. not quite billionaire status but a lot of money. you don't like that. why not? >> i think the think that we're more concerned about is the idea that the woman who is going to lead the department of education actually has never attended a public school, never taught at it, doesn't believe in public education. i think deeply concerned about a labor secretary who violated labor law, that doesn't believe in the minimum wage. it reflects to us -- >> i think in the case of
puzder, doesn't think it should go to $15. >> what he has said is that he thinks $10 is too high. we know that -- 64 million americans are living in poverty because they don't earn $15 an hour. >> is that a litmus test for labor secretary that he or she must support a higher minimum wage? >> i think the labor secretary in this country needs to stop up for working people and help the country create good jobs. >> what if he says he is standing up for working people by trying to protect them from getting priced out of their jobs? >> i think that that's a good starting place. but he hasn't said that. he has said he wants -- >> i've had him on my show many, many times. his concern -- his biggest concern was that to lift it too much would you force companies to do what i'm -- i'm holding up a "newsweek" company that shows how they are automating. what's making this case for so many to ougautomate is higher w
costs. >> how do we explain the fact that when wages have gone up in seattle, more small business jobs have been created? it's common sense economics when people have more money in their pockets, they spend it in their neighborhood. >> but is it uncommon to think that some businesses would look at the prospect of those costs and opt out? >> i don't think it makes sense for businesses that are earning record profits and where ceos have a record amount of inequality between their pay and the pay of the front line workers. >> a small business or diner running things. >> puzder is earning in one day what minimum wage workers earn in a year. that level of economic inequality is unsustainable. >> that's not the same with a small operation versus a fortune 100 company, right? >> right. but those small operations aren't going to be able to raise wages unless the fortune 100 companies step up and invest in their front line workers. >> you said the fortune 100 companies can afford to do it.
>> they would if people had more money to come into the diners and have a meal. >> that's the chicken and egg argument. you don't know that. you do know that many of are automating and cutting staff. >> i know in the cities that raised wages that more people can go buy things from small businesses and they are able to employ more people. >> mary kay henry, thank you. also for being on top of the latest news developments. very good having you. we have more coming up. the fallout from rudy deciding to drop out. what message he was sending about secretary of state. in between the lines, was he saying that mitt romney isn't going to get it? after this. want longer lasting heartburn relief? try...duo fusion duo fusion goes to work in seconds and lasts up to 12 hours. tums only lasts up to 3. for longer lasting relief...in one chewable tablet try duo fusion from the makers of zantac what's the best way to get v8 or a fancy juice store?s? ready, go!
and continuing to be his close friend and adviser. that's the role i played during the campaign. i never worked for the campaign. i was never part of it. gave me a certain degree of independence. in being able to give advice. and i saw that he had so many good candidates available. there was no reason -- >> okay. sorry about that. that was rudy giuliani moments ago explaining how it is he took himself out of a position that was supposedly his for the asking. secretary of state. we knew something was up when that search started widening to the point where close to eight, nine, ten names are being considered for the post. he was stressing with me that it had nothing to do with his business ties nor did people at the campaign say it had anything to do with that. he did acknowledge that other positions were offered. we're told homeland security.
but this was the only one he wanted. what do you make of that ? >> far be it for me to call him a liar. i have the utmost respect for him. there were two people during the campaign that stood by donald's side all the time, no matter how many crazy things came out, particularly the billy bush tape, and did an effective job. >> were you surprised? >> no. what we heard is this. he did have business issues. the business ties that he had with foreign governments, they were particularly problematic for secretary of state. >> now he seemed to intimate it might not be mitt romney. who do you think is the front runner for this now? >> i don't think anybody knows. you had names yesterday. mr. mcnally from ford. it's a grab bag right now. one of the problems is you have bannon people who don't want mitt romney. you have the other side that wants him. then there's a vacuum. >> then there's a vacuum.
if you only knew what comes on right before the camera comes up. hello, everyone. it's 5:00 in new york city. and this is "the five." we have breaking news on the trump transition. rudy giuliani is out of consideration for an administration position. we will hear from the former mayor in a few minutes. this news comes on a very busy day for president-elect trump. mr. trump starting off with a face to face meeting with paul ryan at trump tower followed by a get out the vote event in baton rouge and now mr. trump is headed to grand rapids, michigan, for the next step on his thank you tour kicking off in about a couple