Michael Founder Michael del signaling that the board was not confident that it and michael dell and silverlake partners had convinced enough shareholders to say yes and go for them to accept a 24 billion deal. The new vote. Suppose to it take place next wednesday. David a special segment. The Senior Justice Department official. The next u. S. Labor secretary, confirmed by a vote of 56 mr. Teefor. This is the narrowest result for any of the president s second term cabinet members. Liz mortgage rates, the average 30year fixedrate mortgage dropping from a two year high last week following concerns about fed tapering and bond buying, the 30year rate. Liz we should mention rates up again today. According to the Detroit Free Press the city of detroit is in final preparations to file federal bankruptcy as early as tomorrow. We begin at 30 to 90 daytime from that will determine whether or not the city is eligible for chapter nine protection we have a busy day, a lot of earnings. After the bell starts right now. David lets get right to todays action keeping a strong nine on the u. S. Dollar. He says thats good. In the pits of the cme. Lets start with you. You say dont forget chipotle. That may end up being the most important stock earning their we get for traders. Why so . It talks about consumer sentiment. I think it is the leader. Liz hold on. Thats exactly what will to. You have them. Lets get right to them. They might be bad because its a mess on both earnings per share and revenue. Earnings per share, a gap of 9. 50 per share. Wall street looking for 10. 78 a year ago. Still love. And revenue comes in shy little bit. Wall street, 14th floor 1 billion. 1411. Thats a good 300 million short liz you know what, it is, and i have to tell you, were looking at paid. That is a key element. The same quarter. Theyre up 23 . Right now the stock is selling off from its closing level. 910. We are a 67. Liz david the forecast is for helping for aggregate growth of 27 . Again, put up the after hours trading. These a very important numbers to keep in mind. 870 read now. Seventy. A big drop down from 900, the people remember coming up today, yesterday with forecasts for a thousand dollars. A drop to the downside is very surprising. A lot of talk about motorolas well. The motorola unit, a big way, many say. That may be one of the things that is also pulling the stock down. Liz it is stunning that the whisper number was 11. Now, they miss that Something Like three out of for the last times. The fact is that anybody who was this ron, this is going to be a little bit of a shock. Everybody is talking about a thousand dollars per share. Right now more like 870. David lets go to chris. As you can see, the after hours numbers are bad. Closing at 910. The bid is 868. A huge drop. Is this a concern . It is a concern. Im sitting here. What im seeing is were almost down eight points. That is a huge move. So a broad market moved down. Really the leader of this rally. Seeing a huge, huge deploy the s p. Really exciting. Liz who want to let people know that microsoft numbers are out and we can sure the stock as well trending slightly lower, not nearly as big a drop. As we get to the microsoft numbers, want to quickly talk to us something regarding approval. David mentioned motorola. They bought motorola. Colin really had this pen. He expected a weak number. He said washout for the picture because it may look how little bit better or a little bit worse depending of what theyre able to get. You have microsoft. We will have to look for the numbers, but it is a huge crashing disappointment. Earnings per share expected to be 0. 75 on wall street. Comes in at 0. 52 per share. That would be below year ago 0. 67. Suppose to get bigger, not smaller. Revenue misses as well. Wall street one. 23 billion. Revenue comes in a 19. This means that there are big upgrades to the windows eight. People moving. Also, big customers dont like the new operating system. All of the first times in the history of microsoft of the biggest Corporate Counsel pushed against merely upgrading with kneejerk regularity. That is hurting microsoft margins. Liz the offer negatively heard q4 by 782 million. The Business Division revenue growing 14 . David nothing to remember, these are initial reactions to numbers. And they were bad. In fact, many will say that the numbers were awful. There will be some interesting discussion after hours on what the reorganization plans are. There will have a huge reorganization of the company, focus more on engineering, more on products and services, but when you look at what has happened to the surface tablet which has been a hughes disappointment, they have been unable to really get a lot of traction with that. Of course when those eight, promises. They will affect businesses. A plan that will be a really big turn. The market not believing when a look at the specifics. Numbers dont lie. Liz because these both came out simultaneously, bouncing back and forth, but let us continue quickly to bring back the numbers. Now we see the headline. We have a gap operating loss. Generally accepted accounting principles. 342 million not get operating. To under 18 million. So not quite been gorgeous get. Pretty significant. Very significant. A selloff in the s p futures. Traders right behind me indicating we will have a much lower open yesterday. As far as microsoft is concerned, there are a lot of talks. People that on microsoft, this is really really disappointing. Going into the third quarter. I think we might see, i move to the downside. 1650 bet on the s p. Liz a want to ask another question. Particularly motorola. A lot of people say they feel that they have such a big lead in where they are. They can sit on losses. Use that as a weapon against samsung which is there a bitter enemy in this particular regard. Therefore look long term, so they are not as interested in the shortterm losses that cann3 make it. Is that a correct strategy . I grew up in illinois. And when that crept in, the behemoth, not only the community but everyone really thought that it was going to take over. As far as samsung having that galaxy four, there really writing that. But the system, the back end, everything that we use on the floor is oriented, giving away from the Microsoft Windows exposure. Such a broad spectrum. The fact that theyre taking a step by step really makes me believe this is a buying opportunity, not a selling. Liz lets bring in bob phillips. First to you. Microsoft has had line right here talking about the weak pc market. Yesterday we had stacey smith crying uncle a little bit saying the pc market is really going down. Thats been it for the next couple of quarters. Can the dow average their business over to other things that have their revenues creams . Well, thats what they have to do. That was the reason for windows eight, to create an ecosystem that can go from mobil and said the enterprise and integrate them altogether. That obviously wont happen very fast. Im very surprised at the weak numbers for microsoft. Actually really surprised at how bad they are. It tells you that obviously the trends are difficult. He has his job cut out for him. I do think there are core assets there that it could be a decent and the point for the stock tomorrow if youre a longterm holder. Liz what about kugel. We heard from our cme guests sang that might be a buying opportunity. You are looking a some of the numbers. By the way, the cost for the correct number, theyre expecting an increase. That went down. Ahead decreased. Im wondering, despite what our guest says, perhaps that is not a buy when you look up the costs going down as much as it did. You have to question it. The big thing for me is that its almost a double from this time last year. Pretty close to that. And the multiple really expanded quite a bit during that timeframe. So it was david we should say, in fairness, so many things have doubled. That is not terribly unusual. I agree, but when youre at a you need solid growth to support that kind of valuation level. And there has been questioned about whether or not in the acquisition they made in the money they invested research is really paying off. I think when they have a mess like this it just accentuates that concern. You get this kneejerk reaction. Dry think its bad for the company . No. Im not surprised by its selloff. Liz what is jumping on the you . Lets remember, the 6 decline could in part because of growth in the mobile business. All these Online Companies have to make the mobile ads. Cheaper than the other kind. It can actually be less of a disturbing sign. It is pretty good. Yet overall, still such disappointing numbers. I think that reorganization is rearranging deck chairs on the titanic. In the to do something far more drastic, break up the company, a spinoff consumer business. Nothing to do with selling mainframe software, Server Software to corporate accounts. Maybe its time to double there. Liz maybe hes listening. David expert analysis. We have to leave it that. Thank you. Gentlemen, great stuff. Liz thank you. Internet giant as you are reporting earnings just moments ago. The stock is getting her right now. Close to 9 depending on which one youre looking at. We take you inside the numbers with our top analysts to tell you if its time to buy the stock. It is already rallying 30 this year. David also, it is not the newest James Bond Film or anything else. It is trying to give serious about protecting their assets. Details coming next. Also, we want to hear from you. They got all these in the nominations. They have really made history because of house of cards. The series becoming a first ever on line on the program to be nominated for an emmy. Is this the future . Will we are seeing. Log on we will raise some of their answers later this hour. [ male announcer] surprise youre having triplets. [ babies crying ] surprise your house was built onn ancient burial ground. [ ghosts moaning ] surprise your car needs a new transmission. [ coyote howls ] how about no more surprises . Now you can get all the online Trading Tools you need without any surprise fees. Its not rocket science. Its just common sense. From td ameritrade. Its just common sense. Every day were working to and to keep our commitments. And weve made a big commitment to america. Bp supports nearly 250,000 jobs here. Through all of our energy operations, we invest more in the u. S. Than any other place in the world. In fact, weve invested over 55 billion here in the last five years making bp americas Largest Energy investor. Our commitment has never been stronger. Liz chipotle reporting a better than expected Second Quarter results. Lets get Nicole Petallides said tune in on this from the floor of the new york stock exchange. Numbers are so good. The stock is jumping. Reporter is. We have seen fastfood doing very well. Just down with numbers. Earnings per share beat the street. The estimates of 281. Revenue looking good. So you are seeing on the top and bottom lines, opening new restaurants. The latest quarter, the plan to open another hundred and 65 to 100 the restaurants. The boost to the full year number. Thats good news. As well just to name a few things and were watching. Ultimately when you look at to public, the talk about growth Going Forward to raise the portfolio numbers. David we have some breaking news, very discouraging breaking news about one of the great cities and our country, detroit taking the distinction of becoming the largest city ever in the United States history to file for bankruptcy. That is not a distinction that it once in any way, shape, or form but it was driven to that by the desperate situation. Having far too many expenses, chief among them, by the way, the payroll and the Pension Funds that they had paid out. Not enough money in coming to pay off those expenses. Detroit has officially done it. This according to the associated press. Theyre just become the largest city ever in u. S. History to file for bankruptcy. The coup will earnings out just moments ago. The stock is trading down in a big way. Lets bring in top analyst tom for take. The you think this drop in stocks after hours is justified based on the numbers that we see, particularly cost per click which is down 6 . I do. If you look at the stock it has had a really nice run. I think there are a lot of people who like it, but i do think that Investor Sentiment has been a little too positive. People forget the story that it can be a challenge. Motorola is still very much a work in progress. Liz did you forget . Your estimates are even higher. You are exactly at the whisper number of 11, but you were at 1092. The consensus estimate, the actual number, as you see, 9 a. Liz sense. What did you think would do better . If you look at the quarterly results, we are projecting a slight improvement on a sequential basis. Were looking for a half percent. That came in. The question is, what if the impact caught the change of Foreign Exchange rates. The story here was that the companies had have done really well. Facetoface some challenges. Motorola is one of them. Mobil transition is the other. Liz lets talk about motorola. David the numbers like that. You say that despite the bad numbers shortterm aid needs motorola. Particularly to protect it from samsung. Explain. If you look at the mobile operating system lands have apple i o s and android. In the market share, the original equipment manufacturers , samsung has a dominant position. Motorola, algae, hd c. It isnt just samsung. They need to have motorola work among but i do think it is early david how long can they continue to believe . The new product is expected to come by october. According to published reports it will put a lot of money to look at merchandise, and advertise the product. David explain. It is the next generation smart phone. This will be really the first smart phone developed by motorola. This could be a breakthrough product for the company. Too early to assess motorola which right now is very much a work in progress. Liz dennis is our media guide, but these big listening to buzz on the street. I have not heard too much bus. Have you . If so, what are you hearing . Well, theyre very smart guest just said that do will is worried about samsung being too dominant in the phone business. It spent billions of dollars to buy a sulfone company, a troubled one. How about you that cellphone makers do that. Maybe they never should have bought a cell phone company. I could not understand how that would help. Liz they wanted the patents. Shore. But you know what, its a stray from their core competency. I was just out in sun valley i had a talk with fiat executive talking about the company. I kept saying, what about your core business, what about selling more ads . Were up 23 . Its okay that theeprices down. But sometimes it think it can solve all the problems of the world. The company spent a billion dollars because there were certain that they could fix the Energy Crisis and ultimately said, you know what, not so much and read off. David we have to give our guests a chance to respond because he is challenging your position with regard to the core competency. Theyre giving away from that as a result of motorola, but also, would you buy the stock at this price . For a first of all, respond. Select a lot of bodies saying. Think about for a while theyre getting too much credit. Things that arent part of the core business and things that may never materially hit their income statement. The way i look at it is a price tag is 966. Seventeen multiple, 17 percent is a longterm growth rate. Thats a reasonable price. David youre a buyer. Thank you. Great stuff. Appreciate it. Liz we have all seen those big city emergency drills and First Responders wiring has mesquites and people with a blood all over them. How about an emergency drill of of very different kind . And name that could have been ripped from hollywood movie. David today was supposed to be high noon in the showdown between michael dell and billionaire carl icon of the pc makers future. Instead day ended with a startling new twist in the confrontation. Details on who is the winner and who is the loser among those two men. That answer coming right up. Copd makes it hard to breathe. But with advair, im breathing better. So now i can help make this a great block party. [ male announce ] advair is clinically proven to help significantly improve lung function. Unlike most copd medications, advair contains both an antiinflammatory and a longacting bronodilator working together to help improve your lung function all day. Advair wont replace fastacting inhalers for sudden symptoms and should not bused more than twice a day. People with copd taking advair may have a higher chance of pneumonia. Advair may incrse your risk of osteoporosis some eye prlems. Tell your doctor if you have a heart condition or high Blood Pressure before taking advair. Ask your doctor if including advair could help improve your lung function. [ male announcer ] Advair Diskus fluticasone propionate and salmeterol inhalation powder. Get your first prescription free and save on refills at advaircopd. Com. David we have breaking news, very sad news about detroit. It is official. It has become the largest u. S. City ever to file for bankruptcy, whether that is chapter 9, how they go through the motions i dont know but jeff flock does and he is right near detroit in chicago and following the story foe vest for years now. Jeff . We have been spending a lot of time in detroit following this story and indeed it could be, it will be the largest municipal bankruptcy. It could be as high as 20 billion by the time its done. This is what were learning from a bankruptcy attorney not part of this proceeding but essentially the citys hand was forked on this by a file being by two Pension Funds, the general retirement system, which is mostly Municipal Workers in detroit and the police and fire retirement systems. They eesentially filed a suit in ink gram county Circuit Court this week asking that the governor be prevented from letting the city file for b they continued the state constitution precludes any kind of messing with their pensions. They had a plan where the pension fund would take 10 cents on the dollar. Detroit was in serious financial trouble. He was trying to work the deal out. The Pension Funds said number they filed the suit. That forced the city to file for bankruptcy before the out court got involved and precluded them from doing that there is separate debt in addition to the Pension Funds. There was a swap loss of 344 million. That bank of america and ubs believed to be the two banks involved in that one. Apparently there is a deal with those banks would allow the city during bankruptcy have a 11 million in casone tax revenue. Would allow the city to function and pay police and firefighters. This bankruptcy filing might be a good thing for the city. As you know, it puts the creditors at bay for a while. Gives the city some sort of a chance to try to get itself back, at least get the police and fire back. There is a huge problem with arson in the city. A huge problem with crime. Violent crime rate as much as we hear about chicagos crime rate, detroit tops it in per capita. The city is in very bad shape right now. So, david, this might actually be a positive. David so well see. There are a lot of bondholders out there. We know what happened to the gm secured bondholders. They lost a lot of what they had. Some of these are secured around some are unsecured. Those Pension Funds david as gm found out they are not necessarily secure. Exactly. Exactly. Jeff flock, thank you. The Municipal Bond issue well get on that as soon as the story fleshes out. What do cities do to prepare when things like emergency attacks . They stage things to make sure police and firefighters and emergency crews participate in drills and make sure theyre prepared but rarely do you hear about big corporations doing these kind of drills, especially in an effort to prepare against big hacking attacks. David today, dozens of major banks and corporations did exactly that. Rich edson is here with details. Go ahead, rich. Quantum dawn ii, david and liz. It sounds like a videogame and in some way ls it is. It is assimilated cyberattack against the vulnerable financial sector, jpmorgan chase, sec, treasury, department of homeland security. It wrap ad short while ago. Trade group sieve ma organized i it. Officials from about 50 companies participated. It simulates days of cyberattacks on u. S. Equities market using a closed system so no actual Trading Networks were affected. They said it gives them opportunity to run through the Crisis Response procedures, practice informationsharing and refine their protocols relating to a systemically cyberattack. Experts say banks have some of the most secure Computer Networks especially given what is at stake. The Financial Community is well aware if many of us are impacted and we start losing their account, their entire infrastructure of online payments, ebanking goes away and they cant afford that. Sifma says they arent grading this on a passfail basis. They will compile a report and see any weaknesses and how they can make their systems better and improve from there. Back to you. Liz rich edson, thank you very much. David thanks, rich. A day of high drama. Dells shareholder vote, nobody expected, his michael dells buyout deal dead . Who is the winner and who is the loser . We have someone that advises dell Share Holders what to expect next and he will weigh in. Liz a heat wave brings scorching temperatures to every city in the nation. We have a ceo of one stock that is sizzling over the past year. We have pools corporation ceo and president. He joins news a fox business exclusive. Has pool construction kept up with the Housing Market . Shes always been able to brighten your day. Its just her way. But your erectile dysfunction that could be a question of blood flow. Cialis tadalafil for daily use helps you be Ready Anytime the moments right. You can be more confident in your ability to be ready. And the me cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. Tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. Do not take cialis if you take nitrates for chest pain, as this may cause annsafe drop in Blood Pressure. Do not drink alcohol in excess with cialis. Side effects may include headache, upset stomach, delad backache or muscle ache. To avoid longterm injury, seek immiate medical help for an erection lasting more than four hours. If you have any sudden decrease or loss in hearing or vision, or if you have any allergic reactions such as rash, hives, swelling of the lips, tongue or throat, difficulty breathing or swallowing, stop taking cialis and get medical help right away. Ask your doctor about cialis for daily use and a 30tablet free trial. David well, dell, postpone ad shareholder vote to take the Company Private after failing to secure enough support and shares of the computermaker climbed following the announcement. So is this a sign that michael dells deal is dead . We have albert freed and Company Merger and arbitrage specialist a lot of shareholders of delissen to what he says, he joins us now. Thank you for coming in. Thank you for having me. Happy thursday. David happy thursday. What surprised you the most about the delay . So the adjournment wasnt as much of a surprise as what happened in the morning before the adjournment, david, which was essentially vanguard, state street, blackrock, among others essentially said they were opposing the transaction, various Media Outlets say they were opposing it which they were and all of sudden, flip, last night, this morning, that was the shocker in the context of, you know, they didnt do that with a bump. They did that without a bump, right . And other things david but lets we like to simplify things perhaps too much but is there a winner or loser . Is michael dell the winner . Is carl icahn the winner . Who . There is no interim winner here. At the end of the day there is an adjournment. Carl icahn, if there wasnt adjournment, carl icahn would have won. The shareholder vote would have been rejected. Theyre approximately 100 million shares short. They adjournment because they didnt vote besides appraisal rights, they didnt know they had to shares to vote, whatever the reason was they didnt vote. Well find out who the winner is probably next week. What does michael dell think he can do to dell as a private company that cant be done to dell as a Public Company . Bottom line, david . Make money, right. Why cant he do it with a Public Company . Because he wants to do some tansformative things, right . And he david he doesnt think the board would go along with him . More importantly shareholders. We are so quarterly focused, you were focused on google and microsoft. Those are quarterly result that he and other people are basically giving him the leeway, in this case, silver lake, they want that leverage. Even though he hasnt said what he was going to do, all the acquisition he has made, 13 plus billion, that will be the future of dell. If its right now, public, if it stays public, through carl icahn or it goes private he, that is a mechanism for him to make money. It is not the pc even though it has his nameplate and moniker on it that is the no the future. He will put a brand name on the software. That is how he will grow. He will do more acquisition. The market has no stomach because the pc business is declining. David understood. He cant make more acquisitions. David clarified that very well but, icahn, carl icahn, he would say he is interesting more than money. Lets take him at his word for a moment that he thinks he could empower the right people to run this company or the people that would turn the company around in a way michael dell could not. Who would he replace dell with . It is not clear to me to be fair. It is not clear to me who that ceo is. More importantly it is not the . If you believe carl icahn and you have to believe in some. Parts here. You may not believe the value, 22, 23 but ultimately you believe his 14 plus the warrant, it is sum of the parts. What he will do, replace, if the shareholders vote this down next week, you know, when it is set to come up again, if it gets rejected, he is, shareholders are going to have to put his directors on the board. He will do the 14 plus tender and he will have a break up the company. David i have to leave it at that but i have to ask at the end of the day all this is over how much do you think shareholders will get per share for this stock . I think it is very feasible that the shareholders do vote this through which is 13. 65 plus the potential 8cent dividend. Not like it will see a bump. If shareholders decline this, the shares are going to drop but you still have the potentiality of 14 or more through the warrants. Ttere is near term pressure. You have the opportunity to get 13. 65. If its drops you should be a buyer because you get the opportunity to get 14. David i understand it now. You really explained it well. Liz how do you feel about dipping in the pool on a hot day like this . David love it. Liz youre not the only one who is thinking about a pool and how it might be a great idea this summer. How wall street has been thinking about it too. You have to look at shares of pool corp, Ticker Symbol pool, up 20 yeartodate. Up next the company is talking earnings, his outlook and what his sales tell all of us about the state of the Housing Market. David also the emmy nominations came out this morning. The big winner wasnt breaking bad or the ratings juggernaut, the walking dead, it was a video streaming hit from netflix. Is this the future of television . Will it all come down to the internet . What do you think . Let us know. This man is about to be the millionth customer. Would you mind if i go ahead of you . Instead we had someone go ahead of hi and win fiy thousand dollars. Congratulations you are our one millionth customer. Nobody likes to miss out. Thats why ally treats all their customers the same. Whether youre the first or the millionth. If your bank doesnt think youre special anymore, you need an ally. Allyank. Your money needs an ally. Im Dennis Kneale with your fox business brief. Advanced micro devices releasing Second Quarter results in afterhours trading. The companys stock is down as it post as narrower than expected loss at nine cents a share. Revenue came in above the forecast at 1. 2 billion. Investors are bullish meanwhile on capital one. Secondquarter earnings Beat Estimates at 1. 87 a share. Revenue also topping the forecast at 5. 6 billion. Elsewhere a federal judge says an investor lawsuit may seed investor lawsuit colluding customers on what to buy. The remaining companies were part of an overarching conspiracy. Blackstone, carlisle, kkr, Goldman Sachs unit among the Companies Named in the suit. That is the latest from fox biz, giving you the power to prosper. Liz how could you not notice . Were in the middle of a summer scorcher. Keeping you cool is very big business and pool corp is a company that is heatings up investor portfolios by doing some look at the stock. It is rising 27 so far this year. Just this morning the Company Reported recorr results for the Second Quarter. Lets bring in a fox business exclusive with manual perez mesa, the pool corp ceo and president. Good to see you again. Right now most of the nation is in the grip of some of the worst heat weve ever, ever seen. Are the phones ringing off the hook . What is happening with your business right now . Well, this is the time of the year where in fact it is hot. It happens to be hot every year in july and this year like every other year is busy for our customers and certainly whether it is retail store customers, service companies, and all forms of contractors doing replacement and remodeling activity, this is their time to shine and were there to support them. I understand. Of course every july is hot but this is a record recordbreakint wave on certainly much of the eastern seaboard. Are you seeing increased activity when it comes to the demand for what you do . Sure. I mean this year it was a milder, excuse me, a colder winter contrasting last years milder winter. So the season got started late and there was a lot of pentup demand there pools are finally open and peel are diving in. We welcome that. Again we are ready for them. Whatever they need were there to support them. Again at the end of the day we want those consumers, those pool owners to enjoy their pools and tell their friend and family they should get a pool as well. Liz im sure but lets bring up the fact that the Housing Market has looked a lot healthier certainly. Is pool construction keeping pace with what weve seen when it comes to things like Housing Starts . That is a good sign and there is about a 12 to 24month lag in terms of people doing a Home Improvement like the adding of an inground pool so we are, it has been gradually increasing in markets like florida, arizona and a few other sunbelt markets. Its growing at a nice rate. Its still a fraction what it was back in the big years of two now three to 2006 but it is recovering at a nice pace. Lagging Single Family construction by a 12 to 24 months. Liz you may pick up in that amount of time. What is the trend now when it comes to pools . Well the trend is to really not look at it just as a pool, as a vessel in the ground but part of a complete backyard n fact we sell the full spectrum of products not only to build the pool and remodel the pool but also all the hardscapes, all the decking products, landscape lighting, outdoor kitchen as well as irrigation system for all the landscape around the house. Were looking to make that whole yard an extension of the home. In fact, probably the most enjoyable part of the entire home. Liz what about things like waterfalls . It gets a little detailed. Bigtime. Liz gets expensive but tell me what are the hot trend . Well, you know, waterfalls are certainly there. All all sorts of Lighting Products that really make that pool a, a mini version of las vegas if you want it to be with all sorts of water things going back and forth. As well as products that are very ecofriendly. For example, variable speed pulls, led lighting, these are products that not only make the pool nicer but also much more efficient and ecofriendly as well. Liz almost like they are bringing in things like accessories. I remember there was this little thing my mom wanted. It moved like this and made nice ripples at night when you had the pool light on. Oh, definitely, definitely. And by the way, we even have fish you can put in the pool. Not real fish of course. Liz what . You can put it in the pool and make it a complete experience. Were here and, you know, through our customers to make that really the best waterfront property you can have. Liz well watch the story again. Yeartodate the stock is up 20 7 . Up 33 yearoveryear. Thank you, manual. Thank you, liz. Liz of pool corp. David . David i would settle for a nice cold beer. It is the house that built Netflix Streaming video history getting a bunch of emmys. That is challenging the old media companies. Who is the winner, who is the loser . The very latest on bankrupt detroit coming up. Im jeff flock in chicago with the latest on the detroit bankruptcy. We talked to a spokesman for the city manager, the emergency city manager in detroit who tells us the city is quote, 18. 5 billion in debt with only a billion dollars in annual revenue. He says, quote, we couldnt pay our debt off in 65 years. He assures the city of detroit though that police and fire will still be provided in detroit and city workers and police and fire will continue to be paid. The city manager is saying that dual tracks toward a negotiated settlement and potential bankruptcy have been pursued for some time. They have filed now formally bankruptcy. They will be in court not until next week to begin that 30 to 90day process to get that ball rolling. Tomorrow morning at 10 a. M. Eastern time, kevin ore, the emergency city manager, the man who resigned from a prominent Bankruptcy Law firm to take this job, he worked on the chrysler bankruptcy, for example, he and governor rick snyder, the republican governor of michigan will meet with reporters tomorrow at 10 00 a. M. The latest on the detroit bankruptcy. Dave and liz. David i dont envoy those gentlemen one bit. What a tragedy. Tough job. David thank you, jeff, appreciate it. Emmy nominations came out today and netflixs house of cards is the first online only program to get nominated. What does this say about the tv business and about netflix in particular . Liz traditional lifts are getting nervous. Of the Dennis Kneale joins with us that story. Hey, dennis. Netflix arrived and who can blame the company if it gettings a little cocky. House of cards won a toilet of nine emmy nomination, best drama, best actor for kevin spacey and best actress for robin wright. Three for arrested development, but not for best comedy and two for hemlock grove. House of cards will have to beat a heck afield, from breaking bad on amc to mad men. That buzz certainly helps netflix shares. The stock pretty much tripled the past year to recover to the 300 mark. Profits are a big question mark. Hbo profit, 1. 4 doll billion last year. Netflix . Only 17 million bucks. House of cards cost netflix 100 million for two seasons. House of cards accounted for less than 1 of all tv shows watched on netflix. That compares to 3 of reruns of mad men. The cost for netflix to get a hold reruns is lot lower than the cost to produce house of cards. Dave . David Dennis Kneale, thank you very much. Because of all the breaking news he had to trunk kate the settlement and he did it beautifully. Google is still trading down afterhours by the same amount, six or 7 . Again a huge drop in google after their bad earnings report. We have more earnings reports tomorrow for ge. Liz meantime we should say microsoft is down under a percent. They too came out with numbers that disappointed on certain levels. Were watching all of it on fox business. David the very latest on the detroit bankruptcy coming up with melissa francis. My mantra . Trust your instincts to make the call. To treat my low testosterone, my doctor and i went with axiron, the only underarm low t treatment. Axiron can restore t levels to normal in about 2 weeks in most men. Axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. Women, especially those who are or who may become pregnant and children should avoid contact where axiron is applied as unexpected signs of puberty in children or cnges in body hair or increased acne in women may occur. Report these symptoms to your doctor. Tell your doctor about all medical conditions d medications. Serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet or body swelling; enlarged or painful breasts; problems breathing while sleeping; and blood clots in the legs. Common side effects include skin redness or irritation where applied, increased d blood cell count, headache, diarrhea, vomiting, and increase in psa. Ask your doctor about the only underarm low t treatment, axiron. Woman what do you mean, Homeowners Insurance doesnt cover floods . [ heart rate increases ] man a f inches of water caused all this . [ heart rate increases ] woman 2 but i dont even live near the water. What you dont know about Flood Insurance may shock you including the fact that a preferred risk policy starts as low as 129 a year. For an agent, call the number that appears on your screen. Melissa we start with breaking news tonight. The city of detroit filing for bankruptcy just moments ago. This is the largest municipal bankruptcy in the history of our country and make no mistake, there are implications for every town and every city in america. This affects you. Lets go right to former detroit mayor Dennis Archer for more. Are you surprised it has come to this mayor . Im surprised and im surprised that it came so quickly. I think the emergency financial manager and his team was forced to go into bankruptcy by a filing of a lawsuit yesterday by the general fund and the police and fire pension fund