Transcripts For FBC Varney Company 20240622

Abiden run all over the place this morning. And the president takes the war on coal to a new level. Hes going to kill it. Coal Company Bankruptcy beginning. Its supposed to be quiet, its not. Varney company is about to begin. First out of the gate look at the price of oil right now. 46. 30. Had been down to the 45 range a few moments ago. Crude is down 46 now, it was 62 in june. Now, look thats good news for drivers the price of goes keeps coming down and every day, down about a penny a gallon. 2. 65 is the National Average now. By the way, i paid 2. 31 in new jersey earlier this morning. Ashley arent you special . Very good. [laughter] theaterats right, were going to call it a streak. Its not all good news a photo from wayne in california 4. 39 for regular at the mobile station in california over the weekend. Theyre not feeling the relief. Thank the greenies for that one. Moving on. President obama taking his climate crusade to new levels wants carbon cut a third by 2030 and force them to use one third of power from renewables those mandates are more stringent and says its the most significant step that the United States are taking. Shes laughing. Im not laughing because were going to have to play for this. And he said that it would skyrocket and a war on coal. And it will move on to natural gas. Hes trying to get through fiat what he couldnt get through congress. This will be challenged immediately. Stuart he wants to cut Carbon Emissions by a third, 30 , by 2030 and mandates that the Power Companies have to get 28 almost 1 3 of their juice that they generate from renewables. Thats not going to happen. Its not going to happen. 20 to 30 states already poised to file suit, but you do get some credits if you start ramping up your solar and wind Energy Efforts and bank credits to offset the cost. Theyve been doing it for generation, less than 4 of juice comes from solar and wind. Even if you believe that carbon is a problem, its china and india, that are producing the dirty energy and the way that you fix that is of course to let these countries develop, the developed countries are the cleanest countries in the world. Another irony, stuart electricity prices skyrocket its the poorest in our society are going to suffer from it from the president says these are the people he cares the most about. Stuart i bet you theres a kick back scheme. Low income people get compensated for their lack of money and the high prices and i think the president s going to try to build a legacy here Climate Change he wants as a major part of his legacy. And leave that for someone else to try and implement it. On a 2 economy, thanks mr. President. Stuart i think weve done that one. And more talk that vicepresident biden is ready to enter the race and hillary is releasing new ads in iowa and New Hampshire as a response. When i think about why im doing this i think about my mother dorothy. She was abandoned by her parents at age of eight. I think about all the dorothys all over america who fight for their families who never give up. Thats why im doing this why ive always done this for all the dorothys. Stuart okay, you saw that. Is joe bide and real possibility . Help me out, hed be almost 74. Thats exactly right. Stuart is he a possibility . The way that hillarys campaign is going right now i think theres a desperate look. Of course biden himself, the rumor is that obama would prefer to have biden run, hes not a great fan of hillary, theres a lot of antagonistic feelings from them from the primary back in 2008. I think hell seriously consider it. His chief of staff has been talking to major donors and the hillary camp is nervous. The more that the American People sees of hillary the less they look her. Her honest ratings, and her Favorability Ratings are declining and they both have a problem they would run as a third term of obama. So when you see ads like that from hillary woe is me and for all the people struggling what shes going to have to answer they struggled under the administration that you served. How is she going to explain that . Can you imagine if Hillary Clinton fails to get the nomination two president ial elections in a row. That will be a political fight and a half. Shes never won a very competitive election ever. Stuart is that true . Rick lazio the first time around. Running against her husband in a weak and she also the president ial election last time. No wonder people in bidens camp are thinking about this. The disarray its supposed to be amongst the republicans, but in fact its among the democrats. There is some disarray in the republican camp lets be honest, stuart. Stuart thanks very much. Well get to that in a second. The opening bell is what 20 minutes away . Roughly 23 1 2 minutes away. Dow futures point to a flat opening around the 17. 6 level. Now this kraft, oh, recalling their popular cheese slices. How will you get a youngster age four to eat cheese unless its wrapped in saran wrap . And they make the best Grilled Cheese sandwiches parents, kraft is recalling some of the kraft singles cheese, theres a possibility that a thin strip of the packaging packaging sticks to the slice after its removed and that could cause a choking haz ard and get this one uber is valued over a billion dollars. And thats more than hertz and another company combined. And Jessica Albas popular Honest Company under fire. Customers complaining that her spf 30 sunscreen left them burned. Honest says the products set the standard by the fda and has lower levels of zinc. Let me show you the complaints on amazon. Stuart ouch. Do not buy this unless you want to look like a lobster. And look at the shoulder a horrible product. We went to hawaii with our kids, extremely burned especially my little twoyearold, the bliss stars and redness on chest and heads and the company is not saying too much. This was put out by Jessica Albas company. She cofounded honest its very popular and valued at a billion dollars, as you know im pregnant in the market for Baby Products and honest is what everybody recommends. Stuart they stand by their product and not backing down at all. They say its fda approved and the zinc taken out of it was socalled elements that just as effective. I think that we need that australian sunscreen. Thats the country that has sunscreen that works. Stuart if you go on a beach in australia theyve got the guys on the side with a spray, you stand in front of you and spray you all over with stuff. The chemical and its 1 one Australian Dollar and walk away. Go into the sea and come back for another dollars worth. Ashley i see another career for me. Stuart spray guy. [laughter] going to read a promo for you. Im listening. Stuart 5 p. M. , Lauren Sandra and nicole. Wake up . Stuart its a great show. I watch it every morning, its a great show. And back to president obamas climate crusade. Tough new regulations, power plants are all coming in all probability. Big blow to the coal industry. Joining us is diane black republican from tennessee, welcome back. Good to see you, thanks for having me. Were smiling, but you cant do anything about the regulations, theyre going to pass this the executive order and epa rule nothing you can do. Thats the problem with the president that believes he has a pen and phone and by executive fiat he continues to write rules and frankly i believe for the next year and a half we have this president hell do everything we can to accomplish his liberal agenda before he leaves youre right, its very hard to override what the president does which is why i hope the people look carefully at the next president ial election. You have to go through the courts, havent you . There would be a legal challenge to these rules and i think that some states are starting to challenge the rules, but really you guys are on the sidelines in congress. Thats very unfortunate. The only price that the president will pay will be a political price that the democrats will pay some way down the road thats it. But its really the people that are going to pay, stuart. You talked about this and so did your other hosts, that people at the lower end of the income brackets that are going to be hurt most by these decisions made and frankly, weve got coal fired plants in the state of tennessee and they spent almost a billion dollars coming up to the highest standards there. And if this is done theres a chance well lose jobs here in our community. That the cost of the fuel is going to go up. Certainly heating costs will go up. So, its the person people that really suffer under this president. Real fast diane, the senate will vote today on defunding planned parenthood. It does not look like the senate will get 60 votes needed to keep the debate going. That means it fails. Theres another issue where youre kind of aced out and you cant do anything about what the president decides to do. We can let the American People know and through these videos that have been showing for the last several weeks, theyre getting to see the true soul and nature of what planned parenthood is. I think it will be an outcry from the American People both prolife ap pro choice to say this is not right, this is inhumane, callus behavior and call upon the president. And i think the pressure needs to be placed on them. Stuart diane, you were an emergency room nurse a couple of decades. Thats right. Stuart would you rather be in the emergency room or in congress . In the emergency room i accomplished more. But i believe the country is worth saving and im going to do everything that i can in my power when im there. Diane black, republican from tennessee appreciate it. Thank you, stuart. Donald trump says he pays as little as possible in taxes and hes proud of it. I know somebody who would agree with that 100 his name is napitano. The judge is next. I pass as little as possible. I fight like hell to pay as little as possible. Fresher dentures with polident. For the best first impression. Love loud. Live loud. Polident. Number 1 dentist recommended. Fresher dentures with polident. For those breathless moments. Hug loud. Live loud. Polident. Number 1 dentist recommended. Bleeding the republican pac in the latest poll. He takes 19 of the vote. Scott walker second 15 . Trump is known for saying contentious things, right . Listen to what he said about paying taxes on face the nation. You know what . Ive said this many times and its not exactly breaking news. I pay as little as possible and fight like hell to pay as little as possible. Number one im a business man and thats the way you do it and put the money back into your company and employees and all that. The other reason i hate the way our government spends our taxes. Stuart i had to restrain the judge in that sound bite because hes in full agreement. Napitano is here. May i suggest, mr. Varney that you as well are in full agreement with that. Stuart however, i wonder how that will play in a society of people pay any income tax as all. And a man who is very wealthy, i pass as little as popular and is proud of it. Is that man popular . Do you think that donald trump is aiming for votes in the mitt romney 47 . Stuart yes, he wants them. If he is aiming for votes there his theory is by lowering taxes and allowing people to keep more of their money and invest it and stay fit. A rising tide lifts all boats. Stuart and never heard him say that cut the tax rates and i dont know that he would articulate it that way. Knowing him the way i do i think thats the cess sense of his argument. The biggest Big Government member of the Supreme Court in the past years, oliver wendall holmes said no one person should pay a cent more than theyre obligated to. We calculate our own taxes and the government doesnt calculate for us. What the donald is saying is not only sound economically its sound morally. Who in their right mind would pay more. Stuart donald trump going to the election has to release his tax forms. I think he probably will. What the effective rate is. Stuart hes in the real estate business, you and i know judge all kinds of neat little, some would call loopholes in the real estate business. Every one of those loopholes was written into the law by a majority of congress or a ruling by the irs. But the average person might not appreciate or understand why theyre there, how theyre there and how mr. Trump utilized them. Big picture when youre talking about the amount of income he has, it actually benefits when he pays more taxes bass unless he puts that money in a shoe box, which he doesnt, its going to get out. Stuart if you were one of the moderators you sorely tempt me. Stuart would you i forgot my question. Effective tax rate . Would ask him what the tax rate should be. Stuart would you say to donald trump, all taxation is theft, agreed donald . Yes, i would and he would probably say, yes. Stuart he would not he would not. All right. Youll not be with us for the rest of the show . You know what im doing . Tell them. Geraldo rivera wabc radio. Stuart excellent. Youve got to listen. It will be a different show. Stuart that conflicts with my show. Listen during the commercials. Stuart right get out of here. Do you remember the ceo that gave employees a raise, 70,000 a minimum. Hes running into a few moments and well deal with it in a moment. Sometimes if youre a little below what it takes to scrape by, that can be distracting from that passion from that purpose that you have for what you do so im all about achieving at the maximum amount, but i want to remove those distractions and help people move forward. You pay your Car Insurance premium like clockwork. Month after month. Year after year. Then one night, you hydroplane into a ditch. Yeah. Surprise. Your Insurance Company tells you to pay up again. Why pay for insurance if you have to pay even more for using it . If you have Liberty Mutual deductible fund™ you could pay no deductible at all. Sign up to immediately lower your deductible by 100. And keep lowering it 100 annually, until its gone. Then continue to earn that 100 every year. Theres no limit to how much you can earn and this savings applies to every vehicle on your policy. Call to learn more. Switch to Liberty Mutual and you could save up to 509. Call Liberty Mutual for a free quote today at see Car Insurance in a whole new light. Liberty mutual insurance. The ceo of a Company Called gravity dan price he was on Varney Company back in april of this year. He was talking about his decision to give all of his employees, all of them a minimum wage of 70,000 a year. Roll tape. I think that this is going to be a great thing for our company. I think its going to be a great roi. I think that people that dont think its going to be theyre looking shortterm. Stuart return on investment. You get Something Back for your generosity. Absolutely. I think the way we look at it is about trust and about values so when you take care of people they send to take care of you. Stuart oh the plan is back firing. Ashley it sounded good. Firstly it created a major distraction for the company itself. Some customers saw that as a political statement. Or others were worried that there would be a price hike or salary would be paid and left the business. And there were those within the company with more responsibility, the person that has the least amount of skills is basically getting the same i am. I got a little bump in pay, their salary is equal, and they were accused of being selfish and left the company. And look at the bug, cheap oil leading to lowering gas prices. 2 by winter so says triplea. Market open, back in a moment. 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Why pause the moment . Ask your doctor about cialis for daily use. For a free 30tablet trial go to cialis. Com what theyre saying is sound economically and morally. Who in their right mind would pay more than theyre obliged. Stuart we showed you that because youd realize that we start at 9 00 sharp every morning, get the good stuff early. The opening bell has rung and trading has begun this morning, were looking for a gain of maybe 10 points what were looking for. Pretty much a flat market. Were up at 177 is where we are. Moving up from there. Pretty flat this monday morning. To another market and we called this one. Another big drop in the price of oil. Were at 45. 99 right now. Thats down a buck 13. Thats a big drop. The price of gasoline follows suit. The price for a gallon of regular a penny a day per gallon now. 2. 65 is where we are. Weve got an eightday streak where the price at the pump keeps going down. Scott shellady is joining us and scott to you first, you want another victory lap, another statement, yes, yes, yes i was right, go do it. You know i feel confident that its going to slowly drift lower, not a plunge lower as you say all the time stewart. Uart. And then were going to the risk reward is too much to be short so i think that things will stall out a little bit. Were going to grind lower and gasoline will keep coming down. There isnt enough Global Demand to take on the supply. You know, this could be a problem for Commodity Traders and companies and commodity countries because its not just oil thats down. Copper is down. I dont know the names of all the others zinc is down and all of the commodities are down, scott and thats not good news entirely now, is it scott . No and the older traders will tell you what i hear all the time these commodity indices or baskets that we look at that are down to five year lows again, theyre telling us whats around the corner and what theyre whispering. The deflation work. They get cheaper the longer things go out. And the Balance Sheet by 4 trillion, trying to by for inflation or bring inflation forward and thats not happening in the face of that. Prices are going down. Hey, keith, in seattle there. No, in Portland Oregon arent you . Im actually in seattle, youre correct. Im in seattle today. Stuart i paid 2. 31 this morning per gallon in new jersey. What do you pay . I wish i was in new jersey i paid 3. Stuart thats the green. Ashley, you dont drive i do drive, im in connecticut a little pit of a premium. Stuart new jersey gets a bad rap. The service plan lets you watch anything on any device by wireless, tv computer, phone, tablet and costs 200 a month. Keith youve got to like the sound of that one. I like the fact that theyre finally bundling the entertainment that people want to see, but 200 a month, i dont like that. I think its supposed to be good for the consumer and its good for the company. Somewhere theres got to be a balance. At t just closed on the directv deal last month and moving quickly. Its a big race for the wireless to bundle up with the video service, i think theyre going to do well with this. Maria scott, what do you think . Youre a technology kind v guy. Yeah i do. And i agree that 200 is rich. 175 190 would have been a better price, but its a good thing i like what at t is doing and getting more in the Technology Like netflix. Maria got it. A look at disneys earnings as you know that stock has been on a tear a hot streak recently. Now at 120 per share, keith, its a new high 120 is a new high. You like it even at this level . Would you buy it some more . You know i do like it even at this level. Here is why. They go way beyond its about Television Entertainment and the hottest property in the world. Indiana jones, star wars. These things are all entities in and of themselves. The juggernaut is one of the few areas that consumers are going to spend. Stuart theyve done a remarkable job running that company, just remarkable. Im going to followup on where the big name tech stocks are. These are the stocks that we follow for you almost every day because thats where the money is pouring in. Start with apple. Now apple is down its somewhat depressed recently over there in cupertino. And not that well done recently. Look at facebook last week it appeared to be closing in on 100 per share and right now ive got it 93 a share and those who wanted to see it at 100. Ashley we were. Stuart how about amazon, a terrific run recently and still on the run, 536 for amazon. Netflix, another stock that went straight up in the last month or so reached 117, its backed off this morning. Lets go to nicole on the floor of the new york stock exchange. Merck licensing an ebola vaccine. Tell us the story, please. Nicole this is conducted in west africa. There were over 2000 people that were part of the test. 2014 people that had exposure to ebola. After they received this vaccine none of the patients got the deadly virus and that is the great news behind this. The stock is up about 1 2 a percent. The fda, this was published in lancet in the medical journal. With that the fda say its preliminary done halfway and the findings did not meet the chive sdoordz so they did not exactly follow proettocol from top to bottom. Stuart so theres a slight calfveat and thanks so much. If you want to watch Lauren Sandra and nicole together at 5 a. M. Great show early in the morning. Next case another round of funding for uber bringing the valley to that. And some of that came from microsoft stock. Wouldnt that be nice to get into this . Yes, they seem to be going despite the regulatory problems. Investigate google and alibaba is already on board. It doesnt seem to be slowing down one bit, which is interesting. Keith, ive got a problem with this i cant get in. I cant invest in uberunless ive got a couple million to share, i cant buy any of it. I dont like that keith. No i dont like that either, but, you know this is what the individual investor needs to understand. The deck is heavily where theyre going to make their money. They want to make money and hope left holding the band. Number two, the process is stacked. Let it settle down and then buy. Scott, if i was running a Major Technology company and it was private. I honestly think id keep it private. I dont want to go public and deal with the regulatory authorities and lawyers breathing down my neck. What say you, scott . The last time we had the dealt melttown they put the stocks off the major exchanges. Theyre right. And i think theyre going to keep this private and ultimately from the investor and leave mom and pop holding the bag. I love uber, but lets remind theyre not reinventing the taxi. Theyre reinventing the way you get a taxi. Thats a different deal not a different taxi just a different way to get one. Im staying away. I think youre wrong. I think its brand new and a revitalizist technology. Stuart want this one . Silence, please. [laughter] check the coal companies, were in mourning president obama wants to tighten regulations on emissions and coal has taken a huge hit under president obama. Coal is just about dead isnt it scott . Yeah i think so. I mean coal is going to theyre going to fight the fight that mcdonalds is fighting. The green fight. Solar and wind thats the way that things are being pushed and the way that the government is hiding it. And id stay away from coal,. Stuart keith would you stay away from coal stocks . Id look to go with the government rather than against it. Stuart i dont think ive met a coal investor it ten years. If they do its taking the way of the dinosaur, but the writing on the world for some time. I want to leave time for this one, Jessica Albas Honest Company shah sham poonpoos and lotions for kids. Ashley the company is standing behind the product saying look it makes all Safety Standards and its approval by the fda. Maybe people arent using it properly, but its bad about. R right now. Stuart that it is. Keith they came in with great pr because theyve got a celebrity putting her name as the cofounder on the company. That could back fire, couldnt it keith . Well i think so, but theyve got a great opportunity to fix this. If if he is ka alba steps in and takes charge. I think it will work in the companys favorite. Stuart scott, last word to you. Do you use sunscreen . No i dont use sunscreen, i dont, if i take my shirt who have in public id be arrested. The final word. Thank you, everybody, top of the hour steven moore that the cabinet wants to talk to. And well talk about Donald Trumps stancesment were down 26 points 176 is where we are. The United States considering charges against the officer who exchanged fire with a choot Chattanooga Chattanooga you are looking at two airplane fuel gauges. Can you spot the difference . No . You cant see that . Alright, lets take a look. The one on the right just used 1 less fuel than the one on the left. Now, to an airline a 1 difference could save enough fuel to power hundreds of flights around the world. Hey, look at that. Pyramids. So you see, two things that are exactly the same have never been more different. Ge software. Get connected. Get insights. Get optimized. We live in a world of mobile technology, but it is not the device that is mobile it is you. A reading on the Manufacturing Sector ism leaked early. It was supposed to come out at ten. It was leaked moments ago. Worse than expected. And the market is beginning to come down just a little after the early leak on that news. Here is the big story of the day and we called it the price of oil coming way down youre at 45 a barrel right now. Off more than a buck. Look at the share price of tyson foods. They didnt make the money they were expecting and down it goes 10 . President obama approved using american air power to defend syrian rebels, alassad and islamic forces. Colonel ralph peters is here. It looks like an escalation what say you . Its an item tibety teensy evacuation escalation and its obama trying to do war by the teaspoonful. We said we would provide air power to the handful of the Freedom Fighters that theyre tried if attacked. If they go after the Islamic State or the islamist terrorists, but it implies they, in order to attack the those forces we wouldnt because there are syrian Freedom Fighters dont want them to fight or you hall in or youre out. The this warfare, and we have a bad deal with turkey and sold out our allies and we the kurds we told them out for the use of a couple of runways, well done mr. President. Stuart i get fired of this ongoing chaos in the middle east which we dont do anything about at all. In fact i think we make it worse in many respects and thats my personal opinions and weve heard from you before and ralph i have to stay away from it and its monday morning, i want to get on to a good start. And the kurds could move on. The avenue officer who exchanged shots with the chattanooga shooter could be in trouble, he carried the gun in a gun free zone. This was premature, it came from the fact that some bureaucrat said he could be charge. He could be charged, he could be Court Martialed. Lets wait and see if they do something sensible. I suspect youll see a little of reprimand and when he moves to his next assignment it will be removed, but i dont see this being a Court Martial that sends a guy to leavenworth. The internet is a beast that panders to the worst of it and once in a while its nice to check the facts. Its so often on the defense here. Were considering any kind of charge against a soldier who fires his gun against a terrorist. What kind of message does that send . Because thats how bureaucracies work. Bureaucracies dont look at people, looks at regulations, rules edicts, theres a part that bothers me. Remember Leona Hemsley that said taxes are for little people. The rules and regulation pull for the little and in the meantime if youre Hillary Clinton and you Compromise National Security and leads to the emails, you get to run for president. I mean thats the 1 . The real 1 who the ones who get away with everything short of murder and maybe that too. And its i never saw real combat. I never have im sure you are, and all hell breaks loose. You are being grossly unfair to our domestic elite. They claimed the cross the princeton and some ride horses. But your point is welltaken. The decline in u. S. Military effectiveness has been coincident with the raise of think tanks and civilians experts. The more we wreath elaborate theories of warfare, you killing the suckers until there are none left or the ones left throw up their hands. Theres no decent way to make war, you win or lose and the greatest immorality when were engaged in warfare is for the United States to lose. Stuart ralph, youre a popular guest and now we know why. Thank you, sir. Thank you. Stuart good luck. Keeper airfares are available and i mean significantly cheaper. How do you fly cheap. We have some examples in a moment. Fly me to the moon and let me play among the stars i built my business with passion. But i keep it growing by making every dollar count. Thats why i have the spark cash card from capital one. I earn unlimited 2 cash back on everything i buy for my studio. And that unlimited 2 cash back from spark means thousands of dollars each year going back into my business. Thats huge for my bottom line. Whats in your wallet . You pay your Car Insurance premium like clockwork. Month after month. Year after year. Then one night, you hydroplane into a ditch. Yeah. Surprise. Your Insurance Company tells you to pay up again. Why pay for insurance if you have to pay even more for using it . If you have Liberty Mutual deductible fund™ you could pay no deductible at all. Sign up to immediately lower your deductible by 100. And keep lowering it 100 annually, until its gone. Then continue to earn that 100 every year. Theres no limit to how much you can earn and this savings applies to every vehicle on your policy. Call to learn more. Switch to Liberty Mutual and you could save up to 509. Call Liberty Mutual for a free quote today at see Car Insurance in a whole new light. Liberty mutual insurance. Were going to be following this throughout the program. The price of oil 45 a barrel early and now 46. 03. Check the Oil Company Stocks way way down. Exxon chevron, and all of them down. As we start using percentages we are now. There are sharp drops. Look at airline fares now, theyre getting cheaper in some cases a lot cheaper. Seth kaplin is here. What about dallas to seattle, how much now . Yeah stuart this is one a year ago, people on average were paying oh 239 to fly in that market. Now checking fathers today, you know 129. Why . Well in that market southwest got the right to start flying from the spauler airport in dallas, nonstop to seattle. Theyre not the only Major Airline that doesnt charge for bags. Sometimes theyre more expensive you have to ask yourself am i a heavy packer southwest may be the best or if youre a light packer maybe they dont have those im in chicago, want to take the kids to disney how much now . Yeah, about a year ago, were paying close to 100 each other and right now 49 and the key there, and this is interesting, is that a year ago, the cheapest fares, a lot of times were on an ultra Budget Airline like spirit and the other guys would say somebody wants to fly spirit, let them. And even they theyre matching and depending on your travel habits. Sometimes it might pay a few extra dollars to fly another airline. Stuart wait a second, to get the prices weve kwaeted. Can i just front up and say give me that ticket now, at that price . Can i do that . You probably cant just run up to the ticket counter and say give me a ticket now for a flight today, but stuart you know what i mean im told of being told if i wait five minutes i would have got it cheaper. Are you going to get me from chicago to orlando 49 can i do that . You might not be able to do it on a friday night, but the fares are from travel all week. Youre not talking you have to advance it months in advance. Stuart we will take that, come back with more. And donald trump says he pays as little in tax as possible and hes proud of it. Could that be whats helping him out in the polls . Im not sure about that. Steve moore is next though. Second hour of Varney Company its on the way. You know what . Im saying this its not exactly breaking news i pay as ril as possible. For two reebs, im a two reasons and i hate the way our government spends our taxes. Can a business have a mind . A subconscious. A knack for predicting the future. Reflexes faster than the speed of thought. Can a business have a spirit . Can a business have a soul . Can a business be. Alive . All right. Donald trump comes right out there when he has something to say boy, did he have something to say on taxes. Watch this. All right, dont watch it. [laughter] i was going to say he says he pays as little as possible in taxes because he doesnt like the way the government spends the money he does give to the government. Steven moore is here on that in just a moment. Hillary clinton her campaign clearly struggling now joe biden considering a run, question mark . Does the left want that . Question mark . Were on it. Plus, a big time democrat is worried for millennials, that they paint a bleak future. Well talk to a 20something. And i received a lot of flak to jessica alba when she came to talk about her company that makes all natural soaps and shampoos for kids and now it appears that her all natural sunscreen doesnt work according to some critics. Varney company starts now. Look at the price of oil as we start out this monday morning, crude is down to the mid 40 range remember it was about 62 in june. Good news for drivers, the price of gas coming down a penny a gallon a day, right now the National Average is 2. 65. Look at california 4. 39 for a gallon of regular, thats one station, one of our viewers sent us this photo from california, the state average is 3. 73, but this is spread over four bucks, way over 4 for his gallon of of regular stuff. Okay. And send us your gas price picture please. Go to our twitter pages and melissa francis, why is gas so expensive in california. Because theyre greenies i grew up in california so i dont and so its more than 70 cents right now, its about 71 cents, and there are some things that are really fun, for example, they pay sales tax on their excise tax, so its a double tax youre taxed on the tax. Think about that the next time you fill up. They dont put it towards roads and freeways, but they have a fuel tax and they funnel about a billion dollars out and just dump it in the general fund. Stuart those greenies. Yeah so california you pay the price, but you get nothing for it. Stuart im wondering when theyll be sick and tired of it. 3. 70, whatever it is 3. 70 and change. Been like that a long time. Stuart National Average, 2. 75 a buck more. When are they tired of it. And people feel like you pay a premium for living there. And then some point its not worth it. And people move to arizona and i started out life in california and you did, too. Ashley yeah. Stuart its a wonderful state. Fantastic fantastic. A great place for newcomers. If you can afford it. Stuart now thats changed. There you go. Stuart and show the big board, were down 49 points. Look at some of our favorite names that would be the tech giants. Start with amazon apple, facebook, all three of those are up today. And by the way, there is no stopping disney. Were going to find out how much theyre making tomorrow, but theyve been successful and the stock has run right up because of successful Summer Movies and the stock alltime high, walt disney. Look at the coal stocks thats a totally different story. Beaten up completely during president obamas tenure. Down today. Alpha Natural Resources actually filing for bankruptcy. The rest of them if you saw a chance, its like this straight down. The white house posted on their website for the news the biggest step weve ever taken for chiement Climate Change. And here is mary kissel from the last hour. And india and china have the dirty emissions. And its the poorest in our society that are going to suffer from it. Stuart the president makes the formal announcement later on this afternoon and let get to donald trump leading the back of the g. O. P. Field. The new wall street journal High Pressure nbc poll hes got 19 of the vote. The first debate on fox this week. Now lets listen to what trump says about paying taxes. You know what . Ive said it many times, its not exactly breaking news i pay as little as possible. I fight like hell to pay as little as possible. For two reasons, number one im a businessman and put your money back into the companies and employees after that. The other reason is that i hate the way our government spends our taxes. Stuart you were listening there. Amen. Stuart and steve moore, the distinguished fellow at the Heritage Foundation nodding his head vigorously. When a billionaire goes on television and says i pay as little of tax as possible its not going to make him popular, is it . I think its going to. And donald trump has tapped into the hell yes voter. Im not a big donald trump enthusiasts. What did he teach us with that statement . Number one when you lower a tax for a business they can put more money into the business hire more workers and provide better valerie and number two, the government is wasteful. If you give them money especially on the republican side of the aisle, a vast majority of voters i think youre right, but no other republican would get out there and say such a thing. If they did say it. Thats why hes first in the polls because hes saying things nobody else has the guts to say. Im a flat tax guy, i want to get rid of the poop holes and special interests that trump is looking at. And were speculator here what an economic tax plan is do you have any idea what it light might be . He said contradictory things. And i think he would go for some kind of low flat rate tax that gets rid of deductions, but this is a hypothesis once he said he was for a big wealth tax and then he said a few weeks ago he wanted to get rid of the estate tax. How is the figure on that. Stuart youre a flat tax guy. I am. Stuart 17 is what youre looking at . I helped with rand paul his rate was 15 . Stuart across the board. Here is what you make give me 15 to the government thats it, basically thats it right . Yeah everybody pays 15. Since you makes ten times more money thatten i do you pay ten times more tax. Thats fair. Stuart i wanted to get it out there. Next one, still on trump, melissa, the g. O. P. Establishment is not happy with his success and top of the polls the g. O. P. Is not happy with that. Theyre not happy and its interesting because hes actually getting people more excited about the primary and the debates and drawing more from the candidates. Hes raising issues and getting people involved. In terms of taxing thats amazing. And i always said Warren Buffett if you want to pay more taxes you can donate it. He knows the irs is terrible at spending the money. If you lowered my taxiing would donate it to charity, would happily do that. Start a pledge. Stuart we would pay a lot of money in tax if we thought that the government spent it properly and raised everybody up with it. We dont believe that. I think thats the case, isnt it . Thats exactly what donald trump said. Youve got a government that cant run a website, cant deliver the mail on time and what are you getting for your money. I think that melissa is on to something here. Donald trump, the reason the republican establishment doesnt like donald trump, because donald trump is criticizing the Republican Party and they dont like republicans very much and doesnt like democrats either hate the parties. Stuart i have to get this in Debby Wasserman Schultz is at it again, the difference between a democrat and a socialist and again could not answer. Watch this. Given that Bernie Sanders is an unabashed socialist and believes in social governments like in europe. What is difference can you explain. I know that Chris Mathews enjoys that banter well discuss the difference between democrats and republicans. Stuart okay. Steve come in please. Im going to give everyone 10 to 15 second. Can you define the difference between a socialist and a democrat . No, in the modern day democratic party. Yeah 20 years ago you had a new democratic win represented by bill clinton. It doesnt exist today. Democrats for most part today in washington are socialists. In theory theres a complete difference. If you look at political theory democrats are supposed to believe in a democratic theory and socialists are redistribution of wealth we work for the common good and everything is sliced you up and handed out. One is a democracy. Its state ownership. Stuart can we agree on the bottom line, the trouble with socialism sooner or later you run out of other peoples money. This is what greek learned, what detroit learned, chicago, go down the list. This is a problem in 2016 for the democrats because they have a socialistic philosophy. Show me anywhere in the world where that is working. Its not. Stuart steve moore, thank you. And try this story, kraft is recalling the popular singles slices. Lauren, in case you missed it go. What are you going to do with the mac kraft cheese . Mac cheese sound good. Theres a possibility that a thin strip of the packaging stays with the slice and can cause a choking concern. Ap and i want to show you hitchbot. He met his demise in philadelphia. And tried to make it to california, but never got off the east coast. His owners says what does it do . Its a hitchhiking robot. What happened . You pick hemim up and take him. He was in canada and wanted to go across. Stuart theyre in my ear saying just dont us dont understand it doesnt mean you need to waste time on it. And two months after winning the kentucky derby, preakness and belmont stake, to become the triple crown winner. American pharaoh, it won his team another 1. 75 million dollars. Stuart dont forget to tune in every friday for every friday . Every weekday morning, Nicole Sandra and lauren 5 a. M. Eastern. Thank you. Stuart another near miss with a drone. This time two planes above new york city. And you dont get any cooler than this. This ice chest that allows you to plug in your phone and mix your drinks on the beach. Were playing with it next on varney. Me is tom. Im raph. My name is anne. Im one of the real live attorneys you can talk to through legalzoom. Dont let unanswered legal questions hold you up, because were here were here and weve got your back. Legalzoom. Legal help is here. When was the last time you shopped at sears, not recently apparently, that thing is down 6 . Thats a big drop. All kinds of things went wrong with sears and thats a huge drop. We see is back to 20 per share. All right. To change the scenery entirely. What youre looking at is a baby skunk with his head stuck inside a yogurt container. The Police Officer runs in to rescue it creeps up behind and then has to run quickly dont spray me. Stuart he successfully avoided being sprayed. Watch this. More serious, a delta flight from atlanta to jfk in new york, a drone was ang rustily close to the plane. It was at 1400 feet at jfk. On the right wing and saw it and immediately told the f. A. A. And jetblue flight keep an eye out. Nothing happened. What happens, what can a drone do to a big plane . It can get sucked into an engine and cause havoc. The generic drone video. No, you cant have drones any more than 400 feet off the ground, Unmanned Aircraft is the ruling. And were hearing more and more cases back in may there was one over brooklyn as a plane was coming into laguardia, same thing. Got to get them out of the way. Got to get them out of the way. Stuart check the big board, 50 points as we speak and check the price of oil, thats down around today. 46 and small change. How about gold . A big drop in the past month. I believe its down today. Ashley now 3. 50. Stuart its 11091 per ounce. And here it is coolest cooler. You can do all kinds of things with the cooler aside from taking it to the beach. This is a cooler . It actually is a tech gadget, isnt it . Weve been testing it in the cyber guy lab. And this is an innovative way to invent the cooler. Youre bringing your tunes to any party you go to. And speakers built into it look how easy it is. Turn that down. And then look at this i want to show you, you walk into a party, monster tire wheels. You walk in and ready, if you would, wouldnt mind getting some glasses ready, were just going to show you how it worksment inside it stores ice just like anything else and integrated, and so intelligent that it makes you think that everything is just completely ready for anything. I know you like your mohitos with more mint, but for demonstration sake this is no wimpy blender. This is right . Hello. Turn that down are you ready . Give me a glass and ill tell you that you cannot even get it. This is a kick starter idea. Oh. It started a while back and its sold out. Stuart hold on. Thats irritating. Stuart now, this is a hightech cooler and you can use a blender on it it plays music and charge your phone on it. A ubs usb plug into it. Eight to nine hours of battery life. Belt in a bottle opener. Stuart hold on hold on. How much. The life of the party. 485. Who cares . You cant get it. Its sold out. 62,000 preorders to this thing. Stuart wow. Started shipping on friday and good luck get your hands on it. Are you sharing or hoarding those drinks . Whats going on . Were here dying of thirst. Stuart we may claim to be a Financial Program and theres a financial story behind this. Which is that theyve raised 13 million on a Kick Starter Campaign very very quickly. This is the new american dream, the idea that you can be absolutely nobody in life and have a great idea and execute it simply by doing crowdfunding online. This is funded now to the do you know of 13. 2 million. Ridiculous. By a brilliant guy named brian and made his dream come true and our lives are better. Ashley brilliant. Stuart all right. That was good. I give you that. I saw you. Stuart ill go with that ill buy one, well get one free coming up near disaster during a nascar race one of the cars nearly took out a crew member youll see it. And hillary now running ads to combat a possible Joe Biden Campaign . Does the left really want joe biden to run . Families are Strong America is strong. I did not have sexual relations with that woman. I want them out as soon as they can get out. Will you demand it . Well theyre not mine. What difference at this point does it make . Do you want to know how hard it can be to breathe with copd . It can feel like this. Copd includes chronic bronchitis and emphysema. Spiriva is a oncedaily inhaled copd maintenance treatment that helps open my airways for a full 24 hours. Spiriva helps me breathe easier. Spiriva respimat does not replace rescue inhalers for sudden symptoms. Tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. These may worsen with Spiriva Respimat. Discuss all medicines you take even eye drops. If your breathing suddenly worsens, your throat or tongue swells you get hives, vision changes or eye pain or problems passing urine stop taking Spiriva Respimat and call your doctor right away. Side effects include sore throat cough, dry mouth and sinus infection. Nothing can reverse copd. Spiriva helps me breathe better. To learn about Spiriva Respimat slowmoving mist ask your doctor or visit spirivarespimat. Com you know it would be true to say that millennials take a lot of heat however, some people are standing up saying that millennials have been given a raw deal what with student debt and low paying jobs. Well, well have a millennial on the program today to answer all charges. And jessica alba shes underfire. Customers complaining her sunscreen doesnt work. Alba was on this show when she launched her company. I gave her a hard time. We will play you some of that sound. Okay. Joe bidens star is rising. Why . Because Hillary Clintons is falling. The vicepresident is the headline maker, will he run . Which big donor is he meeting with now . Hes the center of attention because democrats are extremely anxious about anxious about their frontrunning candidate. Joe biden is 72 years old and he is as they say gaffe prone. But he and john kerry are the only ones with the stature required to take it away from hillary. She makes millions making speeches and a 600 haircut and rails against the rich and topple the 1 . The email scandal, why was she using an unsecured private server for supposedly state Department Business . Reluctantly covering her troubles, they dont want a knockout dragout fight for the nomination, they want a coronation, but they know hillary by her own actions has made a mess of the early part of the campaign. They hate this. They want to beat up on donald trump. They want to talk about the war on women or anything remotely negative for the republicans, but theyre stuck with hillary and theyve got trouble. Dont be long before the New York Times begs joe to run. This allergy season, will you be a sound sleeper, or a mouth breather. Well, put on a breathe right strip and instantly open your nose up to 38 more than allergy medicines alone. So you can breathe and sleep. Shut your mouth and sleep right. Breathe right. Stuart the Dow Jones Industrial average right now is down close on 100 points. Why would that be . Well, there was a disappointing report on manufacturing, came out actually, it was leaked 45 minutes ago. Should have been released 30 minutes ago but it came out early. It wasnt a good report, and were down almost 100 points. Also lower than expected that wasnt so great. Stuart so the economys slowing a little bit. Yes. Stuart and the dows down 102. Look at tyson foods, they were not making the kind of money they were expecting to make, and they lowered their outlook for the rest of the year, down 9 . And twitter another rough day, 30 a share on twitter now. Is that a takeover candidate . I dont know, but its at 30 a share. Cheap oil is the story of the day, right now were at 46. 10, we were at 62 in the month of june. Of course, this is good news for drivers were down a penny a gallon a day now, thats the trend 2. 65 is your National Average for regular. Now this, joe biden reportedly considering a run for the white house. Question does the left really want the Vice President to run . Lets ask archsuper, uberlefty were going to beat him up a little, alan colmes is with us. You are on the left proudly. Stuart proudly so okay. Who would you rather have in the white house, joe biden or Hillary Clinton . Dont know that i can make that determination yet, but i think joe biden would be a very good candidate to challenge hillary, as is Bernie Sanders. Stuart you want him in . I think it would be healthy to have that debate. He knows foreign policy, i think she could be damaged at some point because of what has happened stuart yep. By the way, the times got that story wrong. The people jumped on that stuart like other democrats, you are getting a little anxious about hillarys campaign because its not going that well. Ideologically closer to Bernie Sanders than any of the other stuart how can that be . Because im a good american. [laughter] we all laugh. Stuart im going to talk about this. Fine. Stuart Bernie Sanders says he would not be unhappy with a 90 interest tax rate . Stuart 90 . Until as such time as we solve our deficit and debt problem. Stuart is that okay . Weve had that rate back in the 70s and 80s, did we not, until reagan became president. Stuart theres all kinds of deductibles and interest thats true. Im not sure im comfortable with that stuart well, what level . 80 . I dont know that i have the answer to that. Stuart why not . Why not tax the rich more . Let those who cant pay stuart from a moral position, this is a okay. Stuart youre with varney, all right . Ooh stuart right now if you make serious money and you live in california, new york city massachusetts, connecticut, you know hightax states, youre paying more than half your income in federal and state income taxes. I maintain that that is immoral. No government anywhere be should ever take more than half of a persons income regardless of how much they make. So my question to you is what do you think is a moral limit to the amount the government can take off . I think it depends on the economy at the time. Stuart no be, it doesnt. Im asking you a moral you want me to give you an absolute. Im not sure. I stuart yes, i do. Are you happy with above 50 . Yes. Those who can pay, should pay. Stuart why not 60 . I think Bernie Sanders has a point. Would i go as high as 90 . No, but somewhere in between stuart do you think it would grow the economy . Do you really . I dont think you would have to do it permanently stuart doesnt matter whether its permanent or temporary, do you think it would grow the economy . We have not seen the economy grow by the trickle down stuart you know you dont grow the economy. Giving it to the rich, healthy economy absolutely not. Never has. Ask bill clinton. Stuart wait, just wait. Do you really think that if you took a whole lot more money out of the economy from rich people that you would grow the i dont believe youre taking it out of the economy because so many of these people are saving money. Theyre not using it to hire people investing in businesses, theyre storing the money away stuart theyre investing it oh, get out of here. Thats where a lot of the money is. Thats where mitt romney put his money. It grows and provides jobs. Thats a myth. Stuart its not a myth. Oh dear lord. Youre killing me. What a way to have you could have this conversation for the rest of your life. Did the economy grow when bill clinton cut taxes . It did. Stuart whatd you say, love . Did the economy grow when bill clinton cut taxes . It did. It did partly because of the internet boom and for lots of other reasons. No, it did. Stuart did the economy grow when Ronald Reagan cut no we had tremendous deficit and debt stuart the economy grew like crazy so did employment . Because congress wouldnt cut spending. He spent money on the Star Wars Technology stuart hold on the audience hates it when we all talk on top of each other. You hate this dont you . Especially if i lose. [laughter] youre done. Thank you. Stuart one of these days im going to tie you down to how much you think it is moral to take off rich people. I dont believe theres an absolute answer to. That i think it depends on so many variables and what the economy is doing. Stuart alan colmes, you outta here. [laughter] now this. Steven rattner, bigtime democrat, former obama auto czar, he helped out with the gm bailout, hes worried about millennials. The most educated generation in history is on track to becoming less prosperous at least financially than its predecessors. They are face with the a slow economy high unemployment, stagnant wages and Student Loans that constrict their ability both to maintain a reasonable lifestyle and save for the future. Ashley pratt is a millennial, and she joins us right now. Ashley, sounds to me like Steven Rattner is laying the groundwork for the forgiveness of student debt. I think thats where hes coming from. What say you . He could be but he could also be contradicting the Obama Administration here who says that millennials are well off under his presidency who says yes, we should forgive Student Loans. But look, at the end of the day, that is fiscally irresponsible and this administration has done so much to hurt my generation because of that. Putting forward these fiscallyirresponsible policies and saying that, oh, you know, its okay to keep racking up a federal debt, and its okay to spend more than you take in. Its not. And thats what we have taught my generation to do. Stuart but if we took a vote now of your generation, that millennial generation, i think you would agree with me that way more than half would vote left thats the truth, isnt it . Sadly, that probably is. But i do think the more we do to educate more young people about the fact that under this administration we have suffered dire consequences, i think. I mean, student tuition which you know, is not entirely the president s fault but has gone up but thats because the economy has been so bad. Jobs for young people have definitely decreased, and people are coming out with College Degrees and no way to utilize them. Stuart true. Thats why went were seeing this 15 minimum job rate hike increase youre seeing so much support from young people, because theyre the ones getting these entrylevel jobs. Stuart if i was to go to a College Campus in america and make a speech about growth, opportunity and the american dream, do you think id get a fair hearing . That really does depend stu because i think a lot of young people do want to hear this message of how can we be successful again. Because i think so many of them are living in their parents basements staring at faded obama posters wondering am i better off than i was, you know however many years ago . Im here living at home, i dont have a good paying job, and i dont think young people want to do that. I think for the most part they want to be independent, they dont want to rely on the federal government, but so much of it has become we have to take what we can get and i think thats a sad reality for a lot of todays young people. Stuart ashley, i agree with you. I think millennials are forced into this position by economics and money. Theyre not choosing it as a cultural change. I dont think its a choice i think theyre forced into it. Thats my position. Ashley i would agree. Stuart come again soon, okay . Thank you. Stuart how about this . Right now officials at Guggenheim Partners that is a big Investment Firm theyre scrambling to reach a settlement with the sec. This would end a probe that started with, do you remember this, the junk bond kenning Michael Milliken . Charlie gasparino, this is reaching all the way back. No its not. Milken now is known as a great philanthropist, and he hasnt been in jail for many years. But he does have a relationship, business relationship with guggenheim. Big Investment Firm, you know, based in l. A. And chicago and new york. What the feds did, was they started investigating wherehillen was violating his milken violated his alleged improprieties and agreed he would not give advice, would no longer be involved directly in the securities markets. They investigated that. Heres the interesting thing, guggenheim right now is working on a settlement on the case that stemmed from that investigation four years later. Heres what we dont know we dont know if Michael Milken is going to be named in this settlement. I dont think he is, from what i understand. Well find out in a couple days. Apparently this thing is coming down the pipe. But we do know the investigation theyre looking to wrap up involves the deal with him the relationship with him and that probe. Another story, when this thing gets out of the way guggenheim this is the most quiet, huge company youve ever heard of. Started with about 5 billion in assets under management back in 2000, now runs more than 200 billion. This is a big company. The partners own the l. A. Dodgers. One of the Main Partners hes looking to leave the firm. Part of his thinking there is to get this deal there so todd boley can leave the firm and start his own business. Stuart ive got 20 seconds. Think Michael Milken got a raw deal. I agree with you. And this is all going to be on foxbusiness. Com, and i think the viewer has to digest this. Why . 25 years after this guy pled guilty is the enforcement apparatus of this country still worried about him and not another Bernie Madoff . I mean, that is stuart well said. Good one charlie. Thank you very much, sir. Time for the sector report. We are looking at automakers. Look at them, please. Shares of chrysler jumping a little bit after a big sales gain in the month of july. Sales spiked well, not exactly spiked but they were up 6 . As did sales at general motors, again, i think about up 6 . Both of those companies crushing expectations apparently. Crushing expectations when you go up 6 . 6 growth is good these days. Stuart thats true. Ford also up 6 , they sold one and a half million vehicles. An economist for ford says sales will suffer once the fed raises interest rates. But all three of them are up today. Jessica alba under fire for problems with her companys sunscreen. She faced some hard questions on this program. I got a lot of flak for going after her. Thats going to come up too. And a bold call by eric bolling. A ceo gives everyone a minimum salary of 70,000 a year now hes facing a lot of problems. That guys facing the problems just like eric bolling predicted. Bolling is next. Can a business have a mind . A subconscious. A knack for predicting the future. Reflexes faster than the speed of thought. Can a business have a spirit . Can a business have a soul . Can a business be. Alive . When a moment spontaneously turns romantic why pause to take a pill . And why stop what youre doing to find a bathroom . With cialis for daily use, you dont have to plan around either. Its the only daily tablet approved to treat erectile dysfunction so you can be Ready Anytime the moment is right. Plus cialis treats the frustrating urinary symptoms of bph, like needing to go frequently, day or night. Tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. Do not take cialis if you take nitrates for chest pain as it may cause an unsafe drop in blood pressure. Do not drink alcohol in excess. Side effects may include headache, upset stomach, delayed backache or muscle ache. To avoid longterm injury, get medical help right away for an erection lasting more than four hours. If you have any sudden decrease or loss in hearing or vision or any symptoms of an allergic reaction stop taking cialis and get medical help right away. Why pause the moment . Ask your doctor about cialis for daily use. For a free 30tablet trial go to cialis. Com im Nicole Petallides with your fox business brief. Stocks in negative territory this morning on the first trading day of august. The Dow Jones Industrial average down 92 points, led lower by many of the energy names. Exxon and chevron under pressure as oil went below 46 for the First Time Since march. Exxon had its price target cut at Credit Suisse che on over at barclays. Disney, new highs this week. Auto sales, Fiat Chrysler and ford both with up arrows, we did see ford do very well for the month of july, in fact, the best performance in sales since 2006. Doing very well with the f150, and Fiat Chrysler doing well with jeep and chrysler. Fitbit, new high. 20 ipo, you remember, middle of june. Earnings are tomorrow, and we want you to kick it off every day at five a. M. I host the show with sandra smith, lauren simonetti. Of well give you all the news kick off your day. Usaa makes me feel like im a car buying expert in no time at all. There was no stress. It was in and out. If i buy a car through usaa, i know im getting a fair price. We realized, okay, this not only could be convenient we could save a lot of money. I was like, wow, if i could save this much, then i could actually maybe upgrade a little bit. And it was just easy. Usaa, they just really make sure that youre well taken care of. Usaa car buying service. Powered by truecar. Online and on the usaa app. Stuart i want to get to dan price, the ceo who raised the minimum wage at his company to 70,000 a year minimum. He took a pay cut himself. Turns out hes hit some rough times. Now eric bolling predicted trouble for this guy on this program. Listen to this. Look, heres what i think is going to end up happening. Great guy, dan price, right . I bet you remember him three years from now when this whole system is supposed to be unrolled. Hes going to give every employee a minimum 70,000, that company will be out of business. Stuart oh, really . Youre jumping the gun on that one, out of business, but it still may happen. Hes got all kinds of trouble from his own employees you cant do this anymore. It was an experiment in socialism. Hes still under this experiment. He still is in business but a couple of things happened. We predicted that the high the most skilled employees who were making the most were mad that the least skilled employees were going to make the same money that they were making. No one was happy with that at the high end, so the top performers said, you know what . Theyve clock anything and clocking out at the end of the day, why should i work so hard . Two of their top employees left, his most important employees, Key Employees walked, and then another thing happened. Some of his customers walked too, because they didnt like the policy. They thought it was all politics, and their restaurants theyre restaurants and retail, and they said were having a hard time with 15 an hour. They walked too. Im surprised it happened this quickly, but hell be out of business stuart but you got it right. Heres another one. You had a chance to sit down with donald trump. Heres part of the conversation. Nobodys going to tell me what to do. Im not going to have the donors and the special interests and the lobbyists tell me what to do because i dont need their money. Im not running with their money. Every time jeb is out in the hamptons raising money, i know all the guys that are giving them money. They dont give money unless theyre getting something for it. [laughter] stuart now i want to ask you you interviewed him it aired over the weekend on fox. Theres four days to go till the debate. Did you get any sense of what he might do in the debate . Thats what i wanted to do, stuart. It was only a couple of days before the debate, the jury was out the new statesman or the donald trump that made him as popular as he is saying exactly what comes to his mind. And i said what do you think youre a debate questioner, what do you ask jeb bush a question, scott walker a question, Chris Christie a question and marco rubio a question. The candidates as close to him. Hes at the top, and theyre the next four, and he went after every single one of them pointedly, took shots, pointed out Chris Christies issues in new jersey and jebs issues with immigration. He went full throttle forward. Hes got one speed, and its full speed ahead, and im guessing its going to be that donald trump versus the statesman that everyone is hoping comes out. Stuart very watchable tv. Okay thanks, eric. Jessica albas popular Honest Company is under fire. Customers complaining her spf30 sunscreen left them and their children with a sunburn. Al baa was on this program talking about her products when she launched the company. Listen to this. Do you feel that existing babe by products that are on the market in the United States are unhealthy and unsound for your children . Yeah. Theyre a lot. Theyre a ton. Stuart really . Do you feel threatened . Yeah. Theres a stuart all right, melissa i got a lot of flak, and you say what . Well i mean, you must feel vindicated. There are chemicals in products for a reason, they headache them work. Its bike they make them work. Its a cost benefit you decide do i want to put my child out in the sun and have the sunscreen that works and has some chemical or the sunscreen that doesnt work. Then you have to take them inside. You chased her down and you were right. Stuart but its a huge company. 2 billion company. Theyre going to go public. And wait until it goes public, ipos. Stuart puerto rico has until the end of business day to come up with millions and save off default. Stave off default. Well update that situation in a moment. But i keep it growing by making every dollar count. Thats why i have the spark cash card from capital one. I earn unlimited 2 cash back on everything i buy for my studio. And that unlimited 2 cash back from spark means thousands of dollars each year going back into my business. Thats huge for my bottom line. Whats in your wallet . Here at td ameritrade, theyre always working. Yup, were constantly making thinkorswim better. Like a custom screener on your desktop, that updates to all your devices. And you can share it with one click. Wow. How do you find the time to do all this . Easy. We combined every birthday and holiday into one celebration. different holidays being shouted back to work, guys i love this times of year. For all the confidence you need. Td ameritrade. You got this. Puerto ricos government preparing to default. Lets head to adam shapiro live now from san juan. Adam, whats the latest . Were talking about the 58 million payment that will be missed, thats the debt servicing on the Public Finance corporation bonds, and that according to different analysts that weve spoken to is going to be the first of several strategic defaults as they try to put pressure on the different hedge funds and the different muni mutual funds and bring them to the table to work out some kind of negotiation and restructuring. Just a few of the numbers for you, the government is operating in this fiscal year with a 706 million deficit. They have a 350 million bond payment coming up september 1st. Nobody knows what the next strategic default will be, but already the chief of staff to the governor has said they dont have liquidity to keep operating the government past november 1st, so the pressure is growing. Back to you, ashley. It certainly is. Adam shapiro, thank you very much. Hour three of varney is next. Stuart what will president obamas legacy be . What will he leave behind and how will it be judged . I think the judgment will be that yes, he did indeed, change america but not for the better. Obamacare, signature legislation, a mess. Expensive, bureaucratic, its not going well, and theres no reason to believe it will deliver what was promised. Not good legacy. The iran nuke deal, obamas legacy will be a triumphant iran sitting in the middle of the oil patch counting the days until they get a bomb. Not good. Climate change. The president will claim Global Leadership in the fight to cut carbon. This is a legitimate claim. He will deliver strict rules on power plants and a leadership role at the u. N. Climate conference this year. To the greens, that is a shining legacy. But taxpayers and consumers, they will pay heavily for it, and china is laughing all the way to the bank. To the economy, a shrinking middle class a tepid recovery, hassive debt. Massive debt. Thats what you get when you go for redistribution instead of growth. Add it up. This is not the legacy of a dynamic, successful presidency. Its the legacy of a president who tried to change america into europe. Who wants that . The worst of it is that president obama did, indeed, drive us down the european road, and it will take a very long time to reverse course and recover. Stuart all right. We begin our third live hour with the price of oil, yes, coming down following its worst month since the financial collapse of 08. Were down 46 we had been 45 just moments ago. Price of gas starting to follow the lead from oil, falling about a penny a gallon a day. The average now is 2. 65. Were calling it a streak. Pump prices have come down for eight Straight Days. Joining us now, i hope with a firm prediction of where oil is going george jerro from rbc Capital Market as. Royal bank of canada. Stuart oh, sorry. [laughter] right, heres the question, is the price of crude oil going to hit 40 and below . I dont think so. Round one of the feud. However, we do have a very bright analyst who used to be with the cia. Shes been writing position papers for us on what the saudis are doing, what iran is doing and what all this means going down the pipe. Now, if you look at next years prices today on crude, youll see that while were trading at 46, next aprils crude is trading at 50 50. Stuart okay, thats on the futures market. Correct. Stuart so i can buy a contract at 50 next april. Or you can sell one. Yes. Stuart what this tells you it tells me that there will be an uptrend probably by the end of year. And then, of course, we have elections coming in the u. S. Next year. Things could change for the better. Stuart well, we have been hearing about this for a long time. We were confidently told its going back to 70 80 a barrel. It didnt. It plunged down to 45. But there are enough doomsayers now to make me believe perhaps were reaching the bottom. Stuart and the bottom would be because output production of oil starts to stop and slow down. Correct. And saudis have said that by september they may raise prices and today weve seen the effects, good effects of car sales. Truck sales are up enormously. Stuart true. Aaa says that by the winter, this coming winter, some apartments of the country may parts of the country may see, repeat, may see 2 a gallon gasoline, and george says i dont think so. Stuart okay. Aaa also says the price of gasoline will be down maybe 20 cents a gallon from where it is now, down to maybe 2. 45 per gallon National Average after labor day, and you say . Possible. Stuart thats better. [laughter] didnt want to walk away without some kind of decline in the price of gas. George, thank you for coming to us on such short notice. Check out the big board please were down 75 points. Had been down just over 100. A rather weak report on manufacturing came out about an hour ago, down went the dow. Down about a half percent. Look at tyson foods. Im going to call them the chicken guys. They didnt make yes. [laughter] stuart they were expecting to make a hot more money than they did lot more money than they did actually make and thats a 9. 5 drop for the chicken guys. Look at starbucks. Barrons says the dollar value that the market puts on the company could be higher than mcdonalds next year. That would make starbucks the biggest restaurant stock. Right now its at 58 and up a little bit more. Lets get to the election. Were just a few days away from the first gop debate, its coming this thursday. Fox news digital Political Editor Chris Stirewalt is with us from d. C. All right, chris how we doing . Stuart im just fine, thank you very much indeed. I hear that you have been helping our moderators prep for the debate. Feeding them all kinds of information. How are you telling them now stuart how to handle donald trump . These people do not need to be fed anything. What we have is a good process that includes several folks to make sure that the questions that they come up with are 100 airtight. We dont want the question to be the issue, we want the answer to be the issue. And i like our process. Stuart what are you telling them . In the discussion whats being said about trump and how to handle him . Look the thing about donald trump is hes got to decide what kind of debate he wants to have. The questions will be fair, theyll be tough. Our questions are always tough but theyll be fair questions, theyll be tough questions, and hell have to figure out what kind of candidate he is and what kind of candidate he wants to be. Sometimes you hear from donald trump very bombastic, over the top answers sometimes you hear more thoughtful answers even on the same topic in the last few weeks weve heard him with very different takes on Illegal Immigrants and immigration, talking about his big heart sometimes, rapists and murderers sometimes. So we dohat Donald Trumps going to show up. The thing thats easy and good for us we know what the questions are, and theyre fair and theyre right. Hell just have to decide what he wants to do. Stuart i think this is make or break time for some of the candidates. If they dont perform well or stand out in this debate their campaigns could just run aground and not go much further. Do you agree with that . Well, the republicans intentionally delayed the start of their primary process this cycle, its august, we were on to our third debate by this time in the last cycle so the republicans have to the point of some sure, why not run . Theres nothing that youre doing. Now well have the first competitions the first sheep and goat separation, and for some of these candidates, yes, it will become clear where they rank. The big question is for somebody like Chris Christie, the big question is for somebody like rick perry, do you hang on and hope for a miracle later, or do you head home and save your donors money . Stuart have you ever seen a debate anything like this the way its shaping up anything like this before ever . The beforehand part nothing. I think in the end people will say, oh, we remember those. Those are debates. But in terms of the anticipation, i have never seen anything of the kind. Stuart id love to see what oneliners all of the candidates are going to have in their heads in response to donald trump. Because im sure every single one of them has some kind of putdown or some kind of oneliner to zing donald trump with. Not cruz. Cruz will be wearing a trump button. He wants to be ted cruz wants to be the trump turn in the race. But ill bet youre right they need to have a zinger under their hat. Stuart ill be watching, like everybody else, i think. Thank you very much. Hillary clinton looking over her shoulder at joe biden . Blake burman joins us. The white house, i believe, is chiming in on this one now is that correct . Thats right, stuart. Josh earnest was asked just a little while ago, earlier this morning from bill hemmer about the speculation involving all of this, and earnest did not really try to tamp down the possibility of joe biden potentially at least thinking about this, at least potentially jumping into the race. Heres what he had to say when asked about whether or not the Vice President is considering this. Take a listen here. Joe biden is going to have an opportunity to make up his own mind. And hes indicated that hes thinking about it. He said that hes thinking about it more importantly and he would know. All right, so a couple of responses there stuart, from the White House Press secretary. I was also just handed some information, we can tell you now that two longtime biden confidants have now been brought onboard as advisers to the Vice President. Further fueling the speculation here. Now, i want to show you one set of numbers that might give biden a second look at things. A reason why he might be taking a look. This is the honest and trustworthy numbers between him and Hillary Clinton. Quinnipiac University Poll from the other day, and you can see that is the edge right now that he has on clinton, and that is a number that clinton has not been able to overcome at least in the last couple months. Something to keep an eye on there. Stuart it sure is. Thanks so much, indeed. Inadvertently i said goodbye to Chris Stirewalt. I shouldnt have done that, because hes still there. [laughter] chris, come back in again, please. Im here. Stuart i hope you heard blake burman, he just got some news there, two biden longtime con my adapts have signed on con my adaptings have signed on as advisers, further moving forward the idea he might run. And that poll showed him ahead of Hillary Clinton 5837. Do you think hes going to run . Well, yeah. I think hes going to run because of what we read over the weekend from maureen dowd quoting and saying that she knew, New York Times columnist said she knew the state of mind of joe biden when he had a conversation with his dying son beau describes that suffering from the effects of the brain tumor, and he makes an impassioned plea to his father. Dont worry about the cash, dont worry about getting rich worry about beating the clintons. Pow. If thats what he has from his nowpassed son, of course joe biden is going to run. If thats the narrative, the storyline that joe biden and company have is out there and theyre talking to maureen dowd about that i think theyre in. And i dont think hell beat on Hillary Clinton i wouldnt bet on him but boy he will give her a run for the money, and shell end up so far left by the time this things done Bernie Sanders will be distancing himself from her. [laughter] stuart thats very good, chris. Im glad we didnt say goodbye to you earlier. [laughter] i had more, i had so much more. Stuart yeah, you did, and you got it out. Thats excellent. Thanks chris. The latest grim prediction from the environmental extremists, thats what im calling them, catastrophic Food Shortages because of Climate Change. Theyre predicting mass starvation the collapse of society. We turn to a voice of reason in just one moment. We live in a world of mobile technology, but it is not the device that is mobile it is you. Stuart try this one. New jerseys Largest Teachers Union demanding governor Chris Christie resign because of comments he made this weekend. Listen to this. At the National Level who deserves a punch in the face . Oh the national Teachers Union. Because theyre not for education for our children. Theyre for greater membership, greater benefits greater pay for their members. And they are the singlemost Destructive Force in Public Education in america. Stuart well, thats not the first time that the governor has clashed with the Teachers Union but liz, hes taken a trumplike persona there. Yeah. Hes trying to get a spot in the gop debates as well, so hes vying for that. Taking on the unions is a big theme for the gop party. Chris christie really raised the hackles again of new jerseys Largest Teachers Union. Theyre now demanding that the governor resign immediately. Of course hes got going not going to do that. This has been a fouryear battle that also was ramped up earlier this year when he did not fully fund the state Pension System which the teachers dont like. Stuart does that statement, bash em in the face, do him bad on the National Political scene . Its a mixed i would say, no, because people are still predominantly in favor of teachers and and all the good they do. They dont understand the bad stories that are coming out, certainly new york city and places like new jersey, of the harm and the bad things that teachers do, you know, new york city rubber room hurts more than helps. Stuart young, ash . I think it hurts more. I dont think the National Public understands that teachers are hurting children or more focused on cashing out sick days or vacation sick days. Stuart donald trump can be blunt and in your face, Chris Christie cannot . Unless he better explains the story of why. Stuart check the price of oil. That is the story of the day, i believe. Were down to 46. 42. Weve had eight Straight Days that the price of gasoline has come down. Im going to call that were at 2. 65 is the National Average today, and were on a downside streak. Come on in, jeff flock, from a jeep dealership in napaville, illinois. Jeff, the story, i believe, is big cars are selling well, very well, because gas can cheap. Very cheap. Is that it . You have got the exact story down, and its cars like this the grand cherokee. This was up big this month. The Jeep Cherokee the old wranglers . Look at that, thats a willies. Do you believe the wilies company willies company . These are all up. It gets about 18 miles to the gallon and its selling like hotcakes youre absolutely right. Gas prices make a big difference. Stuart all right, jeff, thanks very much. Looks like nice weather. Beautiful day. [laughter] beautiful day. Stuart id take the top down, i really would. Thanks very much. Hows this for a headline . New Research Suggesting society will collapse by the year 2040 because of catastrophic Food Shortages. The greens blame Climate Change. Joining us now Oklahoma State University Professor jason lusk. Professor, that was a pretty wild prediction that we got there from the greens. What do you make of it . Well, this is just another example of a long line of, first, profits and then now scientists going back hundreds of years making apocalyptic forecasts. I think the reality is if you look back over the past 100 years, things have gotten a lot better. We sad scientists had scientists saying we were going to have Food Shortages by the 1970s, and that didnt come to pass. Food prices have continued to come down, we have fewer hungry people today than weve had in the past, so over and over again we see these forecasts not coming to fruition. Stuart are you dismissing entirely the idea that the climate is changing and becoming much more extreme to the point where we cant produce the kind of food or the amount of food that we used to produce . Are you dismissing that argument entirely . No, im not and i think if you look at most of the science and the scientists would say that we should expect some level of warming in the future. Now, whether that warming is going to be dangerous and apocalyptic is much more uncertain. But when you look at these kinds of models that these scientists have put out, what they ignore and they admit this they ignore the ability of we humans to adapt to that climated change. And i think we have incredible adaptive abilities, and what well be able to do in the future is trade with people. Well have some losers, some winners, and we want to have freedom and flexibility of trade and adapt and innovate in response to the changing climate. You know, stuart, bill and Melinda Gates foundation has supported geneticallymodified food. They have said that that is what will help starvation in africa. I mean, the Green Movement that has been so posed to gmos have falled to acknowledge how gmos can help poverty and help feed the worlds population. Stuart professor, liz makes a good point there. Weve heard a lot about geneticallymodified foods and seeds and all the rest of it which really has produced an extraordinary revolution hasnt it in Food Production . Thats right. So if we people in the Green Movement really believe these apocalyptic forecasts then we ought to use all the tools we have available and geneticallymodified seeds are one tool. We certainly want the ability to be able to have crops that are more drought tolerant more heat tolerant and more tolerant to more water. Certainly i think this is one tool. Its not the answer but its one of the many answers that well want to be able to use to adapt and innovate and respond to this changing climate. And i would think of all people the greens, if theyre really worried about this problem, theyre going to want to have these tools on the table to adapt. Stuart last one. Youre an academic. In your institution are you an outlier . Are you the only one who thinks this way or what . Tell us. Well, i work in an agricultural college, so most of my colleagues are intimately interested in investing in agricultural science and technology and so i think at least among my peers and colleagues when we see these bug problems facing us, what we try to think about is what can we do to provide new technologies, new science to help us address these things. So i see a much more optimistic future among my colleagues because we have the tools to help address these problems. Stuart well, we like a little optimism, especially on monday morning. Professor, thanks for join us. A Company Called soul cycle is getting ready to go public. We checked out one of the competitors. Its called the peloton and you can use it from home. Full report next. eeeeohmumohweh hush my darling. dont fear my darling. the lion sleeps tonight. hush my darling. man snoring dont fear my darling. the lion sleeps tonight. woman snoring take the roar out of snore. Yet another innovation only at a sleep number store. Usaa makes me feel like im a car buying expert in no time at all. There was no stress. It was in and out. If i buy a car through usaa, i know im getting a fair price. We realized, okay, this not only could be convenient we could save a lot of money. I was like, wow, if i could save this much, then i could actually maybe upgrade a little bit. And it was just easy. Usaa, they just really make sure that youre well taken care of. Usaa car buying service. Powered by truecar. Online and on the usaa app. Get excited for the 1989 world tour with exclusive behind the scenes footage all of taylor swifts music videos interviews, and more. Xfinity is the destination for all things taylor swift. Stuart the fda approving the first 3d printed drug product. Its made by a private company and its called spritam used to treat epilepsy . Yeah its really interesting. What they do is they put layers of the powder of the dose or the medicine and bind them with some liquid, and what it is, it creates one of those melt tablets, you know, like you can sometimes take some of these allergy tablets that melt on your mouth. Thats what these 3d printers can do, creating a bill, basically, thats easier to swallow for the patient by very finely putting layers of the dosage of the medicine held together by a fluid. And then you can just take its treated for epilepsy, thats what this particular one is used for. But its an Interesting Development in the way the medication is made and another application that you wouldnt think for 3d technology. Stuart intensely precise, which is exactly what you need. Can deliver exactly the right, precise dose. Yeah, because theres mistakes a lot of times in dosage agreements right . Yes. Stuart and this is the first 3d printed drug approved by the fda. The first of many im sure. Stuart something completely different from that, many Cycling Companies are trying to capitalize on the success of soul cycle, remember them . They are for those popular spin classes. One such company is peloton. It lets you exercise from your home. Lauren simonetti spoke to the ceo and checked it out for us. Go. Peloton is a new type of fitness experience where we allow you to take a fantastic highenergy Indoor Cycling class from the convenience of your own home. This is the heart of the business. Where this class is going out Live Streaming for the more than 10,000 subscribers at home. When you are at home, you are patched into this class via these five k578 rahs. How much does that bike cost . Just under 2,000. Expensive. But if you do a lot of Indoor Cycling classes, they cost about 30 apiece. For peloton, you can take unlimited classes a month, 39 a month. So tom, if you dont want to spend 2,000 on this bike, you can simply download the ipad app. If you have a bike that youre attached to, you can download an ipod app where youre high resistance or high cadence, you follow along with one of our coaches and you can easily byrne 700 calories in burn 700 calories in 45 minutes . Okay maybe its not that easy. Youve got to work pretty hard. We ended up raising money from 100 angel investors. They say, wow thats ambitious, you dont even know if theres a market for this product . And you said . People want more interactive more engaging, more fun home workouts. Has anyone tried to buy your company . We have had a couple offers i mean, yeah. Soul cycle is valued at, what about 1 billion. Stuart she went out to study the peloton, and shes back with us now. I couldnt get one for free. They were 2,000. Stuart thats intriguing. 2,000 yeah for a bike. Stuart and 10,000 people have bought one, and theyre prepared to pay 39 a month absolutely. So they can sit at home and join a class online. This is a welcomesly market. Its also luxury market. People just love the quick intense 45minute workout. Theyll spend the money. The 2,000 bike is actually what the company is more or less spending to make the bike. They dont theyre not trying to profit off that. Its the best bike, they say that you can buy. But its the 39 month subscription, which you can share but thats where theyre bringing in their money. Stuart one quick question i saw on the screen cadence. What is that . Its kind of like the feel. You kind of move your shoulders and you get into a groove. Its that. Helps you move the pedals. There you go, institute, its a whole new stuart its a whole new world. I can see it now. Stuart it was a great report. [laughter] thank you very much, lauren. The true tale of a ceo trying to raise salaries but getting stuck in the reality as the money runs out. We got the story. And the democrats wishing they had their own donald trump right about now. Wait until you hear this one. Stuart all rights. We are down 55 points. We were down a hundred good oil is roughly a fourmonth low down 46 per barrel. Charles payne. I want to talk about a totally different subject. But the camera back on me for a second. Donald trump leads the republican pac. He is way up front and makes outrageous statements. People love this guy because of how he says what he says. Charles payne however has news about a potential possible democrat trump. The mac the answer to donald trump is howard schultz. Its not a mystery but its really growing out there. Schultz for the last year has been doing a lot of things. Dealing with racism and starbucks. The people behind him are pushing him hard. To run. Either way something a lot of people say hes wanted to do and think about his qualifications if you will. Persona and his his family to go to college as a small Company Called starbucks and built it into this business. Hes a philanthropist. He puts his money where his mouth is. Last year he wrote a book what our veterans can teach us about citizenship and sacrifice. He is just as wealthy if not wealthier than donald trump. Hes the epitome of the american dream. Is pretty liberal and Climate Change. But he also raised is prices. One thing he will say it is not a Bernie Sanders. He will also say when im done with those and then sending people to college and paying a livable wage. Towards the end of the week it was all about joe biden. Stuart who was saying Charles Schulz is getting at . Has been reverberated a year now. The magazine cover has four boxes in all three boxes were checked. The only one that wasnt president of the United States. [laughter] stuart we hear you. Ive got to move on. We have the ceo of gravity payments on the show in april. Just after he announced all its employees would get a minimum of 70,000 a year. Financial aid professional i want to say thank you. You proved in a few months with the disastrous policies proposed would do over the longer period of time. Company has imploded his cost of everything. Hes had to put up his house right now. His two most valuable employees get down on him. How we pay everyone the same amount . Hes proven why this doesnt work. In a few months he proven so we dont have to go through this disaster. Thank you dan price. Thank you very much. By the way if you buy more of this, dont miss making money with charles pena 6 00 p. M. Eastern tonight on the fox news network. An interesting headline from conservative alien or charles coke telling 450 this weekend that its time to give up on lobbying for corporate welfare. No more corporate welfare says the Koch Brothers. Tell me more about this. What is the corporate welfare he is railing against . You know this is a full scale affaires by the Koch Brothers to rebrand the Republican Party and focus on the fight of the poor. Over the weekend in dana point california eliminating corporate welfare for the rich, the export import bank, subsidies for businesses and refocusing and eliminating barriers are venting the poor are rising up such as criminal justice reform. Stuart that is the koch new idea of how to generate real support. I am intrigued by corporate welfare. What is this about subsidies of various businesses, tax rates which ones . A couple were raised over the weekend. One was marco rubio support and another with scott walker for taxpayer funding for an nba arena in wisconsin and the candidates were asked about these things but it is clear that donors gathered to support the government handouts to the wealthy and large businesses. Stuart it is a rebranding of the image. Is that it . At the larger effort to rebrand the Republican Party. Koch brothers conferences people huddling to figure out how to reduce tax rates and keep more money. The focus of the weekend was fun to poor and eliminating handouts for people like themselves. Stuart what will they do about this other than say it . What will they actually do . The Koch Brothers has an empire that goes from think tank to grassroots organizing. They produced an event part of the push which is one to american businesses and foreign entities as well. On the Grassroots Level to rally people for this cause is. As well as the Donor Network has been a huge export import bank. Stuart have a lifespan like this or are they responding to people like harry reid who gone after them . They have chased him down. Have a polish their image because theyve been hit so often by the left . You know the difference is their belief has always held firm. But its happened as part of the result of the vicious attack on them as theyve come out into the limelight a little bit. They have reporters and they want to show people what they are doing. That despite the confidence that what happens here is that what harry reid is care arise that. His attacks for this new brand of openness. Stuart they were vicious attacks. Thanks for joining us. We appreciate you being here. Iran still trying to get the last word in the new deal. A new book by the ayatollah shows that they are really thinking. I am transfixed. Stocks are off to the low today. Industrial average 56 points at the moment and we are seen and not back has moved into the green territory here. Consumer spending up slightly. Automakers did well in the month of july. Oil below 46 with the lowest since march on many Energy Shares such as exxon and chevron. Halliburton under pressure. Another group under pressure as the retailers. Ralph lauren at a new low coach at a new low. That is over at jpmorgan. 3. 5 . Michael khorasan asked by 5 . Moving to a new high volume growth there. Start your day right here on fox business everyday. Sandra smith transfixed and i to host your show. Stuart College Tuition going up. You know that. Jerry will assist you with information on one university that cause 42,000 a year. Why 42 grand a year . Your credit flow. At syracuse university, 200 of others socalled managers only manage one person. It is absolutely true. The way that it works on College Campuses space out much. Theyve hired so many people to run their systems if they have very few faculty and a lot of administrators pushing paper. Syracuse and we will offer people money to leave. In the real world what you do is fire a bunch of people at move on. That is not what is happening here. They offer than half the annual salary to leave by the end of the year. At syracuse, the administrative cost rising twice the level of revenues. Fewer people going to school these days. Now the 3000 institutions are competing for fewer and fewer people coming through the front door. These are the changes that have to be made. I dont think theyre doing it the right way. Stuart glad to see it happening. Youve got to cut somewhere im not a good place to start. Maybe now we get a real glimpse inside their brains thinking over this new deal. The Supreme Leader Ayatollah Khamenei has a new book that explains how to outwit america. Of course the calls for destruction of israel. Fox news contributor rick rendell is here. How come they are coming out a book like this as they signed a new deal with america. Nothing has changed at all. A no there are no consequences if they dont change behavior. Since 2006 weve been getting access to the nuclear site. Weve been unable to do it. The resolution sent sanctions because they are unable to get access. Now with one access we look at these sanctions relief. Instead of the Security Council will take it to a different committee. The ayatollah has been antiis real all of long. True to his not telling the world how to outwit america. Another part of the outwitting of america. Yankees. What he means is you can use hezbollah hamas, other groups that control to scare jewish out of israel. He says they will be afraid of us moon painful for the rest of the world to do business with israel and to be friends. He literally said we want them to understand if you are friends of israel there is a price to pay. Is that the country is saying we will deal with. Stuart no wonder Benjamin Netanyahu is at odds with barack obama. Out of the question israel should accept this. This quote. Thats out of the question. Lets give barack obama credit for one thing. He has united israel left right and center against this deal. Stuart i watch her comment. Donald trump talking about his taxes this weekend. Listen again. I pay as little as possible. Fi two pairs double as possible. Stuart you run it from a staff in the last election. If he said anything like that comment wouldve been all over before the november election. Fire back. Every single american does that exact same thing. I dont want to pay more money. Why would i celebrate more money to the government. I will hire the best people to pay as little as possible. Why not take advantage of whatever situation you can. Trump gets people. Stuart mitt romney would not do it. He would not come on and go on the attack. He has the thing about being the rich guy and wanting to pay more. I think it puts the wrong message. Stuart did you hear that from him . Youre within a great deal of time. I dont want to rock the boat. I dont want to come off as a rich guy. Back off. Stuart he felt guilty about being a rich guy. Remember when you said i bet you a thousand dollars. Most people say i bet you a dollar or 10. His thinking about who he was most different than every man. Trump gets people. Stuart you are a farmer get them in. How come you are so fond of donald trump . Hes the antidiplomat. When it comes to the u. N. And its leadership in washington is people who recognized the Current System is broken. Im not somebody who is for term limit but weve got to do something about throwing everybody out. Most people would say about start over. Its broken. They dont represent me. I am looking at everybody and critiquing everybody. I like what trump says and i dont like a lot of what trump says. Stuart by like what you said that . Absolutely. These same things in a way people say heck yeah. Every single president ial team right now is trying to figure out how to raise on. They are all coming up with a oneliner. Rick grenell, thank you. A megastar jessica alba taking heat for her sunscreen. I grilled her right here on this site a while back. Hear more of this one. This allergy season, will you be a sound sleeper, or a mouth breather. Well, put on a breathe right strip and instantly open your nose up to 38 more than allergy medicines alone. So you can breathe and sleep. Shut your mouth and sleep right. Breathe right. Im only in my 60s. Ive got a nice long life ahead. Big plans. So when i found out medicare doesnt pay all my medical expenses, i looked at my options. Then i got a Medicare Supplement insurance plan. [ male announcer ] if youre eligible for medicare, you may know it only covers about 80 of your part b medical expenses. The rest is up to you. Call now and find out about an aarp Medicare Supplement insurance plan, insured by unitedhealthcare Insurance Company. Like all standardized Medicare Supplement insurance plans it helps pick up some of what medicare doesnt pay. And could save you in outofpocket medical costs. To me, relationships matter. Ive been with my doctor for 12 years. Now i know ill be able to stick with him. [ male announcer ] with these types of plans, youll be able to visit any doctor or hospital that accepts medicare patients. Plus, there are no networks, and virtually no referrals needed. So dont wait. Call now and request this free decision guide to help you better understand medicare. And which aarp Medicare Supplement plan might be best for you. Theres a wide range to choose from. We love to travel and theres so much more to see. So we found a plan that can travel with us. Anywhere in the country. [ male announcer ] join the millions of people who have already enrolled in the only Medicare Supplement insurance plans endorsed by aarp an Organization Serving the needs of people 50 and over for generations. Remember, all Medicare Supplement insurance plans help cover what medicare doesnt pay. And could save you in outofpocket medical costs. Call now to request your free decision guide. And learn more about the kinds of plans that will be here for you now and down the road. I have a lifetime of experience. So i know how important that is. Stuart coming up to the middle of the day you dont get much price movement. A minor 60 on the doubt for some time. The story of the day check the price of oil. We called the swan 45 a barrel right now. It was in the mid60s in june. That is down about 20. Mega star jessica alba whom i had on this program give her a hard time about her Honest Companies Natural Products is now facing heat over her spf 30. They got sunburned while using it. The visual images all over the net. Is this damaging her business . Damaging to her business. The sunscreen has 9. 3 zinc oxide. That is lets stop sunburn. Usually anywhere from 18 to 25 zinc oxide. Anywhere from a quarter to less than a third of what she should we have an inner product. Social media is ablaze with images. People getting burned because its very greasy too. Stuart what shes saying . Ashley the number of complaints rep dont complain. Someone on the program earlier said if you got out front of this and said we are taking care of this, that would limit the damage. Shes retreated to say nothing wrong with that. For sounds like shes doubling down. Estimated quarter billion by the end of the year for her company. Stuart good story. Two teenage sisters or New Hampshire on a president ial self emission. They want to take a softly with every person running for president. Here they are with Bernie Sanders. Or they are with scott walker. They managed to take photos of democrats and republicans. Melissa francis will be talking to them after the bell today at 4 00 p. M. More after this. New york times columnist, and she knew the state of mind when she new joe biden when he had a conversation with his dying son beau describes that hes suffering from the effects of the brain tumor, and he makes an impassioned plea to his father dont worry about the cash, dont worry about getting rich, worry about beating the clintons. Pow. If thats what he has from his nowpassed son, of course joe biden is going to one. Stuart Chris Stirewalt on joe biden possibly running for the white house. My time is virtually up, but neil cavutos got the rest of the day or certainly couple of hours, right, neil . Neil you know, what proof do we have of that story, right . It sounds like a very good story but has anyone checked it out . Its kind of weird, but thats just me. All right, we are awaiting in the next couple hours the details on a sweeping epa overall of pollution and emission standards in this country overhaul of pollution and emission standards in this country. If this rings a bell, it should,. Has happened before. At least 32 by the year 2030 and faster for some folks. Now a lot of states are complaining. Well be hearing from patrick morrissey, the West Virginia attorney general, who says this is way overboard, but it is certainly tanking a lot of coal stocks that have since this first came up been tanking on the news that this is going to hit them further. You might recall that a number of these coal industry ceos have been saying we give up,