Transcripts For FBC Varney Company 20121211

The 24 right to work state. The unions want to stop it. Theyre out in force at the capital. It could get ugly. Gas prices are tumbling in st. Louis. Listen to this, at 3. 32 a gallon nationwide the price is still the highest ever for this time in december. California, a National Carbon tax could be on the the way, theyve got one already, how is that working out . And china may be the number one economy soon. Really . Varney company about to begin. Right off the top, breaking news for you now. Fox business learned that a group claimed to be aligned with terrorism is threatening to launch a massive attack against u. S. Bank websites and made that threat in the fall and this is a new threat set to start this week, we hear. And a list of banks targeted includes j. P. Morgan chase, bank of america, u. S. Bancorp, Pnc Financial services and suntrust banks. More details when weve got them. The power and might of unions on display today and being tested. You will see huge protests at the state Capital Building in michigan where right to work legislation will be signed today. That means workers will be able to choose if they want to join the union. They will no longer be compelled to pay dues. Here is the president speaking at a daimler factory in michigan yesterday. We do everything we can to encourage Companies Like daimler to keep investing in american workers. And by the way, what we shouldnt do, i just got, what we shouldnt be doing is trying to take away your rights to bargain for better wages. Stuart and take away your rights to bargain. Is that whats at stake here . Is collective bargaining a right . These are obvious questions, well be on it through the program and our cameras are right at the action in lansing, michigan. Were also talking to the mayor of lansing, virg bernaro next hour. And remember the chrysler workers smoking and drinking during the lunch break . Two suspended and they got their jobs back. That was an arbitrators ruling. Under the Union Contract they were on their own time. Chrysler says it disagrees with the decision, cant change it, thats the example of the unions power. And tell us what you think about the workers getting their jobs back. And well read some on the air. More fantasy island in california, coming up after the break, why californias Green Energy Policies just dont work and were also going to bring you the opening bell and weve got more Companies Issuing special dividends before the end of the year. Including the one that runs victorias secrets. You know how painful heartburn can be. For fast, long lasting relief, use doctor recommended gaviscon®. Only gaviscon® forms a protective barrier that hes block stomach acid from splashing up relieving the pain quickly. Try fast, long lasting gaviscon®. Relieving the pain quickly. So as you can see, geicos Customer Satisfaction is at 97 . Mmmm tasty. And cut very good. People are always asking me how we make these geico adverts. So were taking you behind the scenes. This coffee cup, for example, is computer animated. Its not real. Geicos Customer Satisfaction is quite real though. This computeranimated coffee tastes dreadful. Geico. 15 minutes could save you 15 or more on car insurance. Someone get me a latte will ya, please . Every human being is unique. And there is one store that recognizes it. The sleep nuer store. The only place in the world youll find the extraordinarily comfortable sleep number experience. An exclusive colleion of innotis that totally individualize your sleep. Perfectly comfortable pillows that adjust to your size and shap temperaturebalancing bedding. Dual warmth comforters. All designed around the sleep number bed a bed with dualair technology that allows you to adjust to the support your body needs. Each of your bodies. In the name of human individuality he sleep number collection. Discover how our sleep professionals n individualize your sleep experience. Exclusively at one of our 400 sleep Number Stores nationwide. Sleep number. Comfort individualized. This holiday season, give the gift thats magical the innovative airfit adjustable pillow at special 30 savings. The dow industrials are closed yesterday. At 13,169. Theres been a modest few days of gains i should say. This morning, were expecting more of the same. A small gain for the dow industrials when trading begins. Now, whats behind the modest increase for the dow. Its probably that maybe some discussions have been taking place, behind the scenes, in private. Over this fiscal cliff. Theres all kinds of whispers maybe a deal is in the offing. And people are arguing about it in public, and saying that the powers that be. The president and speaker, theyre not saying much about it, they may be, well, talking privately about this. Thats whats given some sense of optimism, that a deal may be forth coming. We dont know that, but thats the whisper amongst stock traders,therefore, a modest gain in the stock price, youre about to see that. When he the dow gets up and running, you should see a gain of what, im guessing 20 or 30 points, it should be another fairly flat opening with a small positive bias. The best way of putting it. And the dow industrials are opening 10 points higher, just shy of 13,200. And you can also add Limited Brands and that of course is the Parent Company of victorias secret and bath and body work and add them to the growing lisp companies that are declaring a special dividend. Pay it this year and avoid the big attack next year. This time its 3 a share at the limited and its going to be paid the day after christmas day, and nicole, is the stock up on that news . It sure is. This is the parent of victorias secret, Limited Brands joining a slew of two other Companies Give or take that are beating up and accelerating their dividend payouts and special dividends in order to get shareholder value. It almost feels like your company didnt do something for you, it would be clamoring at this point. You know, i am. Everybody knows ive got stock in microsoft. Its not done well this year, its done a ton of cash on the side line and 50 billion dollars. Yeah, i think that shareholders are indeed clamoring for some action before the end of the year. And yet, you still want your surface tablet for christmas. Youre still loyal. None of my children were watching the show yesterday so they dont know and maybe watching now because they do know. Thanks very much indeed. The dow industrials are opening as expected were up 37 points. By the way, delta did buy 49 of virgin. They want to get the slot at Heathrow Airport and Delta Airlines is up on that. And next case, Tim Geithners tenure as treasury secretary is winding down and treasury is selling its shares of aig. And the taxpayer is now out of what was the single biggest beneficiary of the wall street bailout and a profit is expected. American group, aig now at 34 a share. And california has put in place its own carbon tax, called cap and trade in the formerly golden state. If a carbon tax is introduced would residents be double taxed . California officials have started discussing the prospect, hey, d. C. Dont step on us. Ive got more Green Energy News out of california. Listen to this, Energy Companies must get one third of renewable sources by 2020, thats the mandate. There are unintended consequences, fewer jobs and less tax revenue we hear. And mark, i want you to spell it out. How is the state going to lose tax revenue because of the c carbon tax theyve introduced. First of all, they think theyll be doubledowned on the carton tax on emissions as mentioned the jobs in california havent materialized. Jerry brown said heewould create 500,000 new green jobs the next ten years, so far its roughly been about 3,000 per year and at that rate jerry willful fill the promise in lets say 167 years. Stuart 3000 Green Energy Jobs per year, thats all california has got. Thats a very low number and one of the problems, theyre investigating the money and i think the state of california said last year, 59 million went into green jobs and training and apprenticeships and 719 jobs actually placed and thats an investment for the taxpayer roughly 83,000 per job and doesnt seem like a good roi to me. Do the jobs go away . And once youve installed so already panels. Once youve installed them, i guess, that green job, basically goes away, doesnt it . Its the equivalent of being the maytag repairman for green energy. Once youve installed them they are he expected to last, 20 or 30 years, and you talked about unintended consequences and i think that the overestimates on this are telling california we may be too green to fail. Stuart now, what about this mandate . The Energy Companies, they must get one third of their energy from renewable sources . I guess thats hydro electric, wind and solar, youve got to get a third from those Green Energy Sources from the year 2020, and that seems like an awful lot of power to come from the sun and wind and can you make it . I dont think so. Because part of the dirty little secret behind all of this, stuart, is that Mother Nature has really interesting way of deciding when shes going to provide sun, when theyre going to provide the wind and because of that, all of these major power plants are supposed to give these utilities the mandated 33 by 2020. Also, have to have a companion fossil fuel plan that has the turbines ready, if a cloud bank moves over the Mojave Desert or over the mountains they dont interrupt the power grid. When the green Energy Demand increases so does the demand for fossil fuel. What happens if they cant meet the mandate and get renewables by 2020 . I think theyre doubling down on top of this. Jerry brown was quoted with fanaticism. There will be screwups, and debt, and well scene going and nothing will stop us. If the Governor Brown had used the same rhetoric about nuclear power, van jones head would explode. Stuart and highly unlikely that the governor would talk about that about nuclear power. Are you prepared to leave california . No, no, i told you before, stuart, im in for the fight. What we have to do is we have to bring light the troop behind green energy and tell folks, its not the investment they think its going to be, that nothing is free, theres always unintended cost behind it, if we can be reasonable about this and kind of back off some of these, these promises, or mandates that we made. My fear is though, that the Senate Democrats are going to end up using the super majority power and not only mandating the utilities, have that 33 rate, but a lot of corporations getting tax breaks from the state of california will also have to comply with getting 33 of their power from alternative energy by the year 2020. You think that might happen. I mean. Right, yeah. Thats just a prediction, thats all. Okay. And theres no such legislation before sacramentos legislature at this moment . No, if any of the democrats in the legislature are watching right now, and please just, thats a fantasy on my part, please dont take that seriously. Stuart green energy is kind after religion in california isnt it . I dont know whether im going too far on this, but ive just got a youre absolutely right. But the interesting thing about it, the biggest impediment to a lot of the major solar plants arent coming from the utilities. Weve gotten dangered species like the leopard lizards that need to be protected and filing suit against the corporations trying to build the solar plants and trying to make the mandate by 2020. Without a doubt the snubnosed leopard lizard. Im not kidding. Stuart i thought you were going to say the unicorn. We have plenty in california. Stuart we only protect the pink ones. And the biggest economy according to the u. S. Based National Intelligence council. Xhoo china will pass the u. S. By 2030, biggest in population, size and military spending. Now you know. New at 10 well take you live to the michigan, the capitol there, and trying to prevent them to entering the state legislature. The protests is expected to get heated and a live look getting heated, a live report, another one at the top of the hour. What are they up to. The retailers Urban Outfitters drumming up some, im going to call it negative publicity with its profanity, obscenitylaced stocking stuffers, including a 18 expleat tiff reminiscent book and just look at it. But the stock is moving up. A couple of thoughts i have pertaining to Urban Outfitters. Number one, lets talk about the sales, comp sales year over year for the Fourth Quarter are looking pretty good, theyre coming in in the high digits, Single Digits for net sales which is better than expected. So theyre projecting that the Current Quarter is going to be better than expected. So thats good news and enough to give them a 5 1 2 move to the upside. Its certainly not for those, those photo albums. They have so many things in there that have the fword on them, stuart. I dont know if youve ever been to Urban Outfitters. Its ecclectic and have funky stuff and some of its cool and some is over the top. If i go in there with my children, ill try to rush them through certain areas and sexually charged things in there. And here is the clincher. That particular album is in the category going to the home. You know, its one thing if you enter the store and youre making a choice going in there, but its another when it arrives at your home. Stuart nicole, well have more on this subject. Thanks very much indeed. Time is money. 30 seconds, here is what else weve got for you. Starting off with North Carolina. And license plate choose life unless it sell pro choice plates, too. Thats a judges ruling. What will our judge say . Question, is now the time to buy real estate. Well talk to one investor who is buying a lot and he will he show us where exactly hes putting his money and well show you Actual Properties and the price. Were in the holiday spirit here, weve been listening to lots of Christmas Music. Which do you prefer, the old classics or the new versions by todays popular artists. Well be covering that one, too. All right, its what day is it . Its tuesday, weve got Tuesday Morning, early movers, by the way, the dow is up 61 now. Ive got the early movers, here we go now. Dollar general posted higher outlook and the stock is down. Rumblings of carl icon, rumblings, buying up shares of hp. Home health care provider, almost family. Declared a special dividend 2 per share, its up. And hearst says the three biggest stock holders are selling 50 million areas, market doesnt like that. And lower profit at convenience chain Caseys General store. Lower profits . Who cares, its up 2 bucks. And drawing maker gilead sciences, not much movement. Victorias secret. Limited brands unveiled the special 3 a share payable after christmas. The stock is up. Dow industrials, and c. D. C. Says its going to be a bad flu season. Dr. Marc siegel after the break will try to convince me to get a flu shot. Good luck. To say Merry Christmas to you who is singing this . Thats don ho . The thing to say on a bright Hawaiian Christmas day there bing crosby. Don hoe, you made me say that on the air producer, im shocked. [ male announcer ] at scottrade, we believe the more you know, the better you trade. So we have oning webinars and interactive learning, plus, inbranch seminars at over 500 cations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. Our teams have the information you want when you need it. Its anothereason more investors are saying. [ all ] im with scottrade. If youre a man with low testosterone, you should know that axiron is here. The only underarm treatment for low t. Thats right, the one you apply to the underarm. Axiron is not r use in women or anyone younger than 18. Axiron can transfer to others through direct contact. 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Pro Union Demonstrators know front of the State Capitol in lansing, and right to work legislation expected to become law there today, some threats that the demonstrators would try to bring lawmakers into the capital and right now inside the rotunda of the capitol building. Instead of the rotunda and theres a suggestion that this could get ugly. Its pretty noisy as of right now. Were going to keep going back. And were now up 57 points and the dow above 13,200. The regular 3. 32 and diesel 3. 97. Flu season earlier than normal and stronger were told. Joining us now is dr. Marc siegel the medical ateam. Doctor, why is it that every year, just for the past four, five, six years, were told, oh, you really ought to get a flu shot. Ive never heard of that before. You should have a flu shot, stuart. If i thought i could talk you into it i would have brought one with me and given it to you on the show. Stuart how much . I would give it for free. How much other people. 25 bucks, but if you go to the pharmacy, sometimes paid. At the end of the year 42 of americans will have a flu shot according to the c. D. C. We need more. Stuart why . To create something called herd immunity. We have to protect the herd stuart. If you go on the subway and brush against a pregnant woman, i want her covered and dont you to bringing the flu virus and transmitting it with children with asthma and somewhere, mo. Stuart . As you get out of the limo, you could pass a pregnant woman on the street. Stuart youre part of a raquet and trying to convince us we need a flu shot. 20 years ago, nobody did that. Ten years ago, nobody did that. Are trying to suck me into the medical milieu where i feel obligated to pay my money and get my shot every year. Stuart, youre not completely wrong. Stuart thank you. If i take you back to 2009, with the swine flu hype, the World Health Organization was involved in this whole racket of getting flu shots around the world and its a money, money game. And something i disagree with you on. In 2003 we had a similar strain that we had this year and now what . 48,000 people in the United States died of flu related illness that year. This year, we have a very good match on the flu shot. They didnt have a good match that year. This year, we do. So, the more people who get vaccinated this year, an early flu season, aggressive flu season as you said, its getting widespread already. The shot works this year, the more people that get vaccinated, the more we protect the herd and less youll see deaths in elderly people and chronically ill. Its a dead virus, you cannot he get the flu from it. It works and ill come back on show and give it to you from free. Stuart youre guilt tripping america. Thats what the medical business does, youre guilt tripping people. No. Stuart yes, you are. Giving you sound medical advice. This year, works 60 of the time the flu shot. Stuart 60 of the time, thats it . So ive got come on. I mean. Probably more this year, probably more than 70 or 80. Stuart probably . What kind of come on. We wont know for sure until april, but listen, what else do you have . We wont know for sure until come on, doctor. Stuart, this is your best defense against the flu. Stuart i havent had flu in 40, 50 years. And would you the fact that you dont get the flu doesnt mean the guy next to you wont. Stuart i think i won. Millions of peoples get flu. Im the not saying mandate the flu shot. Stuart ive won. Youve not won. Its a good idea for Public Health to have the flu shot. Stuart ive won, you lost, and now time for the gold report. Thank you, doctor. Where is the price of gold following the flu argument, 1710 an ounce, and more proof that the rich will flee if you tax the rich. And happening in france. Hes leaving and headed to the tax haven belgium. For those pagan losers still paying half and help me out. I dont want a flu shot either. Lso likes to ride her bike. She knows the potential for making or losing money can pop up anytime. Thats why she trades with the leader in mobile trading. So shes always ready to take actn, no matter how wily. Or weird. Or wonderfully the markets behaving. Which isnt rocket science. Its just common sense. From td ameritrade. But when i was in an accident. I was worried the Health Care System spoke a language all its own with unitedhealthcare, i got help that fit my life. So i never missed a beat. Thats health in numbers. Unitedhealthcare. Oh, the millionaires tax is costing france one of its finest actors, gerard depardu is leaving france, where taxed at 75 rate and hes moving to belgium and the tax rate there is only 50 . Im trying not to laugh, charles, go. Charles one report said up to 300,000 people may leave and only impacts up to 30,000, if youre next, drama unfolding, vowing to stop lawmakers to cast their votes, were going to take you there live new at ten. [ engine revs ] [ male announcer ] oh what fun it is to ride. Get the mercedesbenz on your wish list at the winter event going on now through december 31st. [ santa ] ho, ho, ho [ male announcer ] lease a 2013 e350 for 579 a month at your local mercedesbenz dealer. [ male announcer ] lease a 2013 e350 for 579 a month you know it can be hard to lbreathe, and how that feels. E, copd includes chronic bronchitis and emphysema. Spiriva helps control my copd symptoms by keeping my airways open for 24 hours. Plus, it reduces copd flareups. Spiriva is the only oncedaily inhaled copd maintenance treatment that does both. Spiriva handihaler tiotropiumbrr does not replace fastacting inhale for sudden symptoms. 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Lets go to jeff flock on the thick of it at the statehouse in lansing, michigan. The latest please. Jeff they said it would be a big crowd and it is. This of course is the cradle of the Labor Movement in the u. S. The first place of the uaw and plenty of uaw folks and the unions represented. You will hear plenty of sides on this but i will give you the union side because that is where i am standing. They save right to work means essentially they come into a workplace, negotiate a bunch of benefits and work rules and salary and people who choose not to go to the union benefit from that and that is not fair. That is their argument. The governor, governor snider, who is not a crazy right winger but a moderate governor, he never had this on his agenda but when the labor unions put it on the agenda in the last election with a ballot measure, he said okay, you put this up for grabs, it was defeated, a measure to enshrine the concept of not being a right to work state. They tried to enshrine that failed miserably and the governor said you made this an issue now and we are going to make it an issue and we are going to support this bill. It seems clear to me this is going to pass today. He is not going to sign it today but despite what you are hearing out here is probably done deal. Stuart are they trying to block legislators from getting in . Jeff we see no evidence of that at this point. No evidence of it. People on this freedom path. No violence. Stuart we will stay with it. Jeff flock in the middle of it. I want you to listen to what president obama said yesterday about this issue in michigan. We need to do everything we can to encourage companies to keep investing in american workers. By the way, what we shouldnt do, and what we shouldnt be doing is trying to take away your right to bargain. [applause] stuart exactly what the president said. That it is a right to bargain for better wages. Does the union also have a right to force people to adjoin a union and pay dues to it. Joining us is the mayor of lansing, welcome to the program. I have got to ask, rights on both sides, does the union have the right to take money off of its members of those members dont want to pay to the union . The right is of individuals to form a union and as you might know, were down to 17 Union Workforce in michigan. How you get to 17 is people make choices and those workplaces have voted and it has gone down over the years. It may be higher than other states and the majority rules. That is how democracy rules and the unions are the most democratic of institutions. The way it works stuart when if i am a member of the union in michigan, if i dont want to pay dues to that union, i have got to join the union to get the job. Why should i therefore have to pay money to that union . What is unamerican is what you are suggesting, right to work. Let me explain why it is unamerican [talking over each other] nobody is denying the right to work. Im trying to explain to you what you are saying is not democratic and unamerican. This country is a democracy. Majority rule. If the majority in a company vote to be in a union than that is what that is just like if you live in new york or l. A. And saying you are going to pay taxes in that city. You might not like the administration of government, you might not like you will pay city taxes or you can move out of the city. You can change the process and get involved in the same way stuart i understand point. [talking over each other] stuart voting to make michigan a right to work state. That is the democratic process. That is what is happening here. These people on lawfully legally expressing their opinion today. We have a mess on our hands. Stuart let me throw this that you. In the last ten years the Employment Level, the number of jobs in right to work states has gone up 10 . The Employment Level in non right to work states like michigan has gone 1 . Dont you think theres something to be said for being right to work in terms of getting more jobs to your state . Good jobs at a toyota or honda . There is no more probusiness mayor in the state or the country but i can tell you as you know as a Business Reporter there tweet types of lies, lies, damn lies and statistics. I didnt make that up but i can show you statistics the other way that taps 6 of the top ten states in unemployment, six of the leading top ten unemployment states are right to work states. There are numbers all over the map on this. We all know the socalled rust belt has had a tough time we are coming back end is not because of the unions. It is not because of right to work that has been a problem. The jobs of been shipped overseas. The unions helped create a middle class and that is the reality and the system has worked out. There is no reason to switch. Stuart i would suggest in michigan your system is broke. [talking over each other] Stuart Toyota [talking over each other] stuart why doesnt toyota moved to michigan . Of the will tell you why. [talking over each othhr] stuart why doesnt bmw, why dont they moved to michigan . Wonderful jobs that pay high wages, good health benefits. They dont move to michigan because of the right to work rules in that state. I have one more. I talked to a lot of democrats on this program about the expression working families. I can never get anybody to tell me what is a working family and why i am not a working family . I have six children and seven grand children but i am not working family. Tell me why. My view is if you go to work every day and you have to go to work to get a paycheck you dont this is my definition if you dont rely on Interest Income you have to go to work to make money and you are supporting a family than you are working family. Stuart the union is not supporting my working family. You dont have a union job. We should get the union in there right away. Stuart i have to ask one last question. Do you think that apple would be the company that it is if it were unionized top to bottom . I think apple those acute debt of gratitude stuart would it be the same company is today with the same products . You might make some products in this country. I understand theyre moving production to this country [talking over each other] i am answering the question. I would love for apple to change and be a proamerican company and make products stuart would they still make the same worldclass world beating products at fabulous price if they were unionized top to bottom . Not the last part because these companies are victimize people all of the world and pay them nothing. Theres a reason workers in china jump out of buildings because of the working conditions. There are problems and the Union Address those problems and you conclude your rise to it that youre kidding yourself because there used to be child labor in this country. We have come a long way to the unions and theyre still needed today and i invite you to come to michigan so i can show you the World Class Companies right here. Stuart apple would never moved to michigan [talking over each other] a thousand other companies that have chosen lansing, michigan. I dare you to come to michigan. Stuart i have been to michigan. I have seen it. Stuart apparently rise or close. Stuart they were not. Blinded by [talking over each other] please come back. Stuart a pleasure, thanks very much. The judge is here. [talking over each other] judge napolitano your patience and diligence in attempting to interrogate somebody who didnt want to answer your questions. Stuart what about this right. You heard what the mayor was saying. Make your comment. Judge napolitano writes dont come from the constitution. The constitution does make Congress Shall grant freedom of speech but shall not interfere with freedom of speech. A right comes for marriage humanity. The constitution restrain the government from interfering with our rights. Do we have a natural right to associate . We do and that right is protected in the constitution. Do we have the right not to associate . We do and that right is protected in the constitution so if people want to form a labor union they are free to do so it has protected and given us aspect of our lives that we enjoy. 40 hour work week and weekends off but to require the employer to deal onll with the union and to force people who dont want to join the union to pay dues to it anyway, that is a destruction of their freedom and in the case of dues is theft and is perpetrated by the government. The mayor is unhappy because the state of michigan will no longer do that for labor unions. Money from the worker and give it to the union when the worker doesnt want to join. Stuart you have been speaking about this on the Fox News Channel and fox business for a couple days. I understand you have a lot of email response to what you have been saying from right to work states. Judge napolitano i am stunned that where you have a right to work without joining a union people are surprised to learn that in half of the state in the United States of america you either join that union or they will take the money from you and send it to the union. People right to work states cant believe this happened in the United States of america. Dave politicians are scared they will lose the gravy train for any years, that is what is scaring them. Stuart lets bring in our next guest because he does not want unions using his dues to push their political agenda. He is kerri bowman, union conservative, uaw member and autoworker. Welcome to the program. Always great to be with you. Stuart we have an argument between the mayor of lansing and myself and Company Members about what is right to work. He is saying essentially that we are denying workers the right to form a union. You are on the other side of the sense. What do you say . It is all propaganda because i listen to him try to like and michigan to the conditions of china and this is the propaganda we have been hearing from day one as Union Members and we know for shore all of that is total wise and incorrect. Right to work represents giving workers a choice, the freedom of chalets to choose whether or not they want to form, julian or assist a Labor Organization or the right to refrain from any such activity. Right to work was given to federal employees over 50 years ago by a democrat president john f. Kennedy and that is all were asking, to have the same rights as federal employees over 50 years. Stuart you are a uaw member. If you get right to work rules in michigan, does that not break the uaw in michigan . I dont think so. This law will go into effect april 1st, 2013. My contract does not expire until september of 2015. I wouldnt even be able to exercise my protections and rights under right to work until that time but i think as long as the unions reinvent themselves, embrace voluntary union and look at this as the free market issue, they can work harder to sell themselves, their product and services to Union Members and that is what they need to do in the first place. Stuart right there in lansing, mich. In the heart of it, thank you for joining us. Thank you. Always a pleasure to be with you. Stuart any last comments . Dave great point. Judge napolitano the unions are not accustomed to having to sell themselves. The unions are accustomed to giving money and votes to politicians who will force unions down the throats of those who dont want to join. Dave much michigan Governor Rick Snyder is former ceo of gateway computers. He understands what makes jobs. He is not a professional politician. He is a professional businessman who became a politician. Stuart thank you. Interesting discussion indeed. Please take a look at this license plate. It is a prolife tag from North Carolina. But it was banned. It is a freedom of speech issue and the judge is still here. Stuart tell it looked like it is. A rally. Dow jones industrial average is up 97 points, 13,256. We follow the tiny makkah nations of the fiscal cliff negotiations. The markets are up. Apple has become a day traders stock. On varney and company we never get into stuff like support levels. That is what is happening with apple right now. It is up 13 all over the place. Limited brands paid the three dollar, one time dividend. This is the company paying a record penalty of 1. 9 billion in a moneylaundering case, failing to maintain effective anti moneylaundering program. Watch out, 90 seconds is all you got to wait for the judge back on a ruling on North Carolina. I need to rethink the core of my portfolio. What i really need is sleep. Introducing the ishares core, Building Blocks for the hearof yr portfolio. Find out why 9 out of 10 large professional investors choose ishares for their etfs. Ishares by blackrock. Call 1800ishares for a prospectus which includes vestment objectives, risks, charges and expenses. Read and consider it carefully before investing. Risk includes possible loss of principal. Look this isnt my firschristmas. These deals all seem great at the time. But later. [ shirt ] Merry Christmas, everybody not so much. Ho ho ho this isnt that kind of deal. [ male announcer ] break from the holiday stress. Save on ground shipping at fedex office. Stuart i have the share price of trip advisor up and i want to know why. Nicole jumping. This is not the news before the opening bell resuming trading and hit the Circuit Breaker and taken off and here it is with up arrows so the biggest shareholder Liberty Interactive making itself even bigger so moving ahead, gaining control, stock is up 9 and traded as high as 47 today but stepping in, buying barry diller shares in order to get 57 voting control. And ship advisers along after the expedia spinoff so this will be a big move and this is not a likely takeover, it is more about changing management. Stuart we got it. Tripp adviser up. If you want more examples of union power get ready to this. Chrysler workers who were fired for drinking beer and smoking pot on a lunch break this week got their jobs back, all of them. At 10 52 we are going to tell you how they got their jobs back. Has to do with the union. North carolina wanted to offer these license plates you see on screen, choose life. A judge ruled they are unconstitutional because the state didnt offer plates with opposing viewpoints. All rise. The judge is here. North carolina says choose life and the judge says you cant do that, got have opposing points of view so North Carolina says what . Judge napolitano North Carolina is not joined by the license plate because they did not offer an opposing view. Is a complex area of speech. When you see a phrase like choose life, fight cancer, love the jersey shore on a license plate, the government speaking or driver of the car speaking . If it is the driver of the car speaking on the government issued license plate which you have to have in order to drive than the courts have ruled government has to make available other license plates for those who want to express their viewpoint that disagree with this one. Government got in the business of collecting money, charging 25 a plate for your favorite phrase. Then the government said we like some phrases and dont like other phrases. You can only choose from among the phrases we like. That is what the First Amendment prohibits. Restricting the phrases. The government could say nothing on the license plate but the state and your license plate but once they get in the business of accepting money from people for phrases on the plates they have to make a variety of raises available. Stuart didnt North Carolina reject six alternate licence plates expressing the alternate point . Judge napolitano the judges opinion before coming on the show animated this judge ward in validating choose life, six different efforts to place non prolife messages, some harshly [talking over each other] judge napolitano all were rejected by the same legislature that authorized. Stuart in my opinion the judge is backing up free speech because he is stopping North Carolina monopolizing a point of view. Judge napolitano exactly what this judge would say and exactly what the opinions stand for. What i would say is government shouldnt be in the business of selling space for speech. If you want to put a Bumper Sticker that says i am prolife or a Bumper Sticker that says i am prochoice you put whatever Bumper Sticker you want on the car. Not on the fleet. Stuart what about live free or die, my favorite . Judge napolitano that is an interesting case because theyre the Supreme Court held a person could not deface, could not remove live free or die. If you live in New Hampshire and drive a car in New Hampshire in your license plate says live free or die and you dont buy the implications of that you cannot [talking over each other] dave choose life is more neutral a statement that live free or die. Judge napolitano this is the type of value judgments judges should not be making, that individuals should be making. There i agree with you. Have to embrace live free or die. I happen to embrace choose life but that is just me. I also embrace the idea of letting people express themselves and they see fit and the governments saying out of the business of making dave the Supreme Court has spoken with regard to live free or die. Judge napolitano yes it did, 30 years ago but that case says you cant deface relations plan for political or other reasons. Stuart amazing the stuff we get into on varney and company. We do actually live free and buy or die. [talking over each other] stuart that was very good. Thank you very much. Are you going to be a right in candidate as a libertarian candidate . Judge napolitano undoubtedly not. Judge napolitano can are reviewing . Stuart raise taxes on the richer they will end up leaving. My take on Gerard Depardieu is next. Tdd 18003452550 this morning, im going to trade in hong kong. Tdd 18003452550 after that, its on to germany. Tdd 18003452550 then tonight, m trading 9500 miles away in japan. 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The more people get vaccinated more we protect the herd and more see deaths in elderly chronicle and chronically ill people the, get your flu shot. You cannot get the flu from a. Works. I will come back and give it to you for free. Stuart dr. Mark siegel in the last hour urging me to get a flu shot. You got fired up over that conversation. Heres what youre saying on our facebook page. Lynne says probably and we will see in april, is he the nancy pelosi oh oh oh man. Is he the nancy pelosi of madison . We all have the shot and wait till april to see if it worked. Passing the bill in order to julie says this. You are wrong. I have chronic bronchitis and asthma. Influenza is a respiratory illness. If i get it it will probably kill me. I dont understand your adamant disagreement about getting a flu shot. Sylvan disagrees with me as well. Think of others. Get a flu shot. It is not all about you and your health. Oh yes it is. I am sorry. I take your comments seriously. Follow us on facebook. Excellent conversation all day long. We have been in the Christmas Spirit for a while on varney and company. Playing holiday music all month. Even though dozens of new christmas albums are made every year, classic Christmas Songs, the most popular. Find out why at 10 45. It whenever heard of the small town of machine . Is in belgium. I am sure you have heard of Gerard Depardieu, the french actor, he is moving there. Hes leaving france. Here is my take on why he is moving. Taxes. Frances socialist government has enclosed a 70 have than anyone earning 1 billion euros a year. He may or may not be a socialist but when push comes to shove he doesnt like a 75 tax rate. He is going to establish residence one, inside belgium. He will only be a stones throw from france but paying the top rate of 50 , not 75 . This is another example of wealthy people avoiding confiscation. It happened in britain, maryland and california. 2 points are made here, practical and moral. First practical. Doesnt work. You might think tax the rich is popular politically but practically it does not bring in the money you think it is going to bring in. Second the moral question. Is it right for the government to take more than half of anyones income . I think not. The socialists believe it is all our money. The refugee from that legalized theft, one last point. Why doesnt he Gerard Depardieu come to new york or hollywood . That is easy. President obama wants to do his part in taxing the rich and will raise the top state and federal rate to 50 in new york and california. Belgium is now more attractive than america. Got to shake your head at that. [ engine revs ] [ male announcer ] the mercedesbenz winter event is back, with the perfect vehicle thats just right for you, no matter which list youre on. [ santa ] ho, ho, ho, ho [ male announcer ] lease a 2013 c250 for 349 a month at your local mercedesbenz dealer. Stuart michigan will become a right to work states today and jeff flock is right in the middle of all the union protests that are going on right now. You are indeed in the middle of it. Jeff perhaps you hear the chants of kill the bill. I dont know that it is going to be possible to kill this bill unlike was in wisconsin when they had a shot from a legislators to try to scuttle it. I dont think this is possible because already passed. What do you folks hope to accomplish today . Voices heard. This fight is just beginning. The voice has got to be heard. Jeff what does that mean . What do you do next . We have to keep going. Snyder told us this wasnt on the table and he lied to us. We got to get back at him. Jeff the governor said proposition 2 [talking over each other] jeff he wasnt going to take this up but when proposition 2 came out that brought it to the 4. We supported proposition 2, we mobilize, we were agile about it and we are being retaliated against by our own capital. Jeff he would point out you lost that fight. Was brought to people for a vote and this wasnt. We have a right michigan people have a right to vote whether they want this or not. Jeff this is an appropriation bill, that means they cannot put it up to a vote to the fact is they cant bring it up to a vote if it passes today. Stuart you are right in the middle of it. Excellent report. Thank you very much. We will stay with this because it is not going away. I have been saying that for a while on varney and company. A Single Family home in a good neighborhood is probably the best investment you can make right now. Going out on a limb but that is my opinion. My next guest is investing in commercial realestate and he is buying. Richard. , a maine will your name once again. Everybody will know right now. Stuart the ceo of the tritium group. Close enough. Stuart i will get it right eventually. Stuart when you invest in commercial property. You are buying right now. You are like the arizona market in particular, you specialize in apartment buildings. Tell me why you are concentrating on buying in scottsdale. I like scottsdale lot. The air park idea will explode in the next five years. Is very important to be positioned there and id buy the properties. It is not the best property in the market but it is the one where upper working class can be. Stuart apartment buildings. What is the ideal size for you as an investor . Minimum 150. Stuart that is what you like to okay. Scottsdale is your particular market that you like in particular. One of my favorite. Stuart david asman was asking if they have water. They do except when it is not raining so much. Stuart Charles Payne says . Charles michigan is talk in detroit. If i am thinking deep discount lot of people are rushing to downtown detroit. [talking over each other] stuart how many apartment buildings of 150 units are for sale in detroit . Charles i would think a lot. I m not [talking over each other] charles that is not [talking over each other] dave how much of the single apartments going for now . Anywhere from 85,000 to 110,000. Stuart that is what youre buying at in scottsdale. What is your upside potential . What is your target . I am comfortable making a low teens but i can make high teens. Stuart courier . Courier . Yes. Stuart not bad. Charles are you worried the mentality may shift in this country where people once again say i dont want to rent, i want to own because it is so much, so expensive to rent and so many parts of the country it is. I always maintain any property i have is the best one in its market class in that area. Even when you take a downturn my properties have always stayed 95 unoccupied and that is important. People forget that one aspect. Stuart you like scottsdale. You like tempe. If you have got a lot of business there it is more stable market than downtown. Stuart i know candor is your third market in arizona. You keep coming back to arizona. Why arizona . I ended up there eight years ago and watched it take a big debt. A lot of opportunity comment and when everything took a dive in 2008, i had enough cash. Stuart now is the time to buy because anybody sitting on any profit wants to sell now. Capital gains. Stuart going up next year. Is that factored into your low return . No. Imus in the morning it is not. I would rather. Stuart why not . You down the Capital Gains tax rates going up . I know theyre going up but i am taking a advantage of them, people want to get out now and it opened up doors for me. Stuart arizona is your market of choice as of this moment you are buying. Large apartment units, 150 to 400 units. Eightyfive thousand dollars each and you expect it to go up to 150,000 per year before you sell. All right. Richard. Of the tritium group. I got it right. Thank you. Thank you very much. Listen to this song. I will be home for christmas by frank sinatra. After all these years classic Christmas Songs like this one are still the most popular. Why is that . Why do people like the modern stuff . Why go back 40 or 50 years . I have an answer for you and it will be next. Copd makes it hard to breathe, but with advair, im breathing better. So now i can be in the scene. Advair is clinically proven to help significantly improve lung function. Unlike most copd medications, advair contains both an antiinflammatory and alongacting r working together thelp improve your lung function all day. Advair wont replace fastacting inhalers for sudden symptoms and should not be used more than twice a day. People with copd taking advair may have a higher chance of pneumonia. Advair may increase your risk of osteoporosis and some eye problems. Te your doctor if you have a heart condition or high Blood Pressure before taking advair. If youre still having difficulty breathing, ask your doctor if including advair could help improve your lung function. Get your first full prescription free and save on refills at advaircopd. Com. Stuart i will calling a very solid market rally, the dow industrials up 107 points. Look at the price of gold down slightly, 1,700 an ounce, gold coins this holiday season. Sales of 131 in november compared to last year. It is up today. It is coming 250 jobs, stocks are up. Dollar general down today, cautious outlook for the holiday season. Everything sells for 10. Walmart focusing on lowerpriced items hurting dollar general. Back in 90 seconds to talk about Christmas Music. Which the preferred . The old classics that you know or Newer Versions by todays pop stars . Stuart i have to deal with delta. Stock is up and you got to tell me why. Nicole 49 stake in Virgin Atlantic so the stock is higher and it is a winner year to date, a stake of 360 million and we all know the head of Virgin Atlantic and heres what is going on, stock is up 0. 40. This is a winner. Lee westwood Christmas Music dr. . Stuart tell me your favorite . Nicole i like the old songs the best and my favorite is Winter Wonderland and my second favorite is i will be home for christmas. Stuart very good. Thank you for keeping it short. We are going to talk about Christmas Music. The dow is up 107 points and all very festive. A good part of the holidays is the music but no matter how many new christmas album is get released we all seem to go back to the classics. Joining us now the music director of w p l i radio. Welcome to the program. Appreciate it it. Stuart will play a riff of crosby. [talking over each other] stuart a couple of bars. Bing crosby, white christmas. Listen to this. Is this good . Dont you like this . Hold on now. Now, why is that so popular . I love it. Why is it so popular . It is familiar with people that are listening. People want to be feeling warm and fuzzy and living around holidays they dont want to hear about Justin Beaver talking and not kissing a girl underneath the mistletoe or it is familiar, classic and a staple and for music that is played one month out of the year why go new and fresh and hip . Stuart when you are the music director so you decide which music goes on your station. We dont play Christmas Music i want to be clear about. We dont do the Christmas Music thing. It is something to be out there for certain stations to do. We dont stick to the Christmas Music we play a few hits here and there but we dont do the 24 7 thing. Stuart that is what people want. If you were to do Christmas Holiday music you get tired of Christmas Music after week. Stuart yes. I just want to play a little bit of this is Michael Jackson screeching about santa claus coming to town. Can we play a couple . Stuart the man has passed away but that is really tough to listen to. It is and the problem stuart when you agree with me. I do and the problem with newer artists coming out with newer songs it it takes so much to write and record and a lot of new artists wont spend the time and money and effort to do it when it is one month out of the year. In that case as much as i dont want to speak badly of Michael Jackson, that is pretty terrible. Charles every year we see a lot [talking over each other] charles almost every year a bunch of the come out. What put them out . Theyre trying to create something that cant be created and it is the wrong artists doing it. If you have someone like a dell or bruno mars, that could work and i also think just writing one song isnt enough, you have to do christmas album and i dont think artists have the time, effort or money. Stuart they come out with these new Christmas Song every year because it is a guaranteed way. Not on your station. If you get a hit is played year after year after year in a money machine. Very hard to have a hit. The real new christmas hit as Mariah Careys all i want for christmas. And they tried to do it but didnt work by Justin Beaver couple years ago stuart to my daughters 20 years old and probably listens to the music you put on all the time. Her Favorite Song in the world is now at king coles Merry Christmas. Stuart when can we have a few bars . Dave that is her Favorite Song. I put it to you a lot of 20yearolds like this music. Stuart this is a sound bite from asking coal. What is your personal favorite of all the christmas movies you ever heard in your life . John lennon, happy christmas, the war is over. Stuart there is something modern that i can get behind. Funny thing about that song is like and listen to that year round and still singalong to and love it just as much. Stuart when you are all right. I try. Stuart that is very good. Pity you dont play Christmas Music very much the we dont do 20 hours a day 7 days a week. We sprinkle in christmas hits here and there but dont overdo it. Stuart im going to be thank you. [talking over each other] it is a promise. Stuart what do i have to do . [talking over each other] you got to [talking over each other] stuart that is going to be on the highlight reel. That was very good. You may or may not be back. Thanks very much. If you were caught drinking beer, smoking pot on the job you would very likely be fired on the spot and you can bet you would never get your job back. Not if you are in a union. We will deal with that story next. [ male announcer ] this is amy. Amy likes to invest in the market. She also likes to ride her bike. She knows the potential for making or losing money can pop up anytime. Thats why she trades with the leader in mobile trading. So shealways ready to take action, no matter how wily. Or weird. Or wonderfully the markets behaving. Which isnt rocket science. Its just common sense. From td ameritrade. Stuart varney and Company Brought you two years ago chrysler factory workers caught in camera by a fox affiliate in detroit leaving work on lunch break going to a parka and drinking and smoking pot and going back to work. 13 have been fired and they all got their jobs back. The union fought for the men they have been rehired. Dave the judge said they were on their own time. May have been on the run time they come back to work stoned. They are in danger in their own life but more important the lives of others. Stuart unions. Charles if the unions want to self lasalle this is how they sell. People have been out of work for years for personal infractions against the law and got their jobs because they were in a union. The problem is there is no upward mobility. The same people complain about working at verizon. 20 years, 30 years doing the same job they were doing. You can have a d u y and come out and get your job back but it would be the same job 30 years ago. Stuart rob will check broke the detroit story fair and i have a question. Do these guys get back pay . Dont know if we can find that out or not. Dave rick snyder will be on at 4 00 right here. Stuart richard snyder, your show this afternoon, 4 00, very good. The highlight reel is next. Stay right there. Every human being is unique. And there is one store that recognizes it. The sleep nuer store. The only place in the world youll find the extraordinarily comfortable sleep number experience. An exclusive collection of innovations that totally individualize your sleep. Perfectly comfortable pillows that adjust to your size and shape. Temperaturebalancing bedding. Dual warmth comforters. All designed around the sleep number bed a bed with dualair technology that allows you to adjust to the support your body needs. Each of your bodies. In the name of human individuality the sleep number collection. Discover how our sleep professionals can individualize your sleep experience. Exclusively at one of our 400 sleep Number Stores nationwide. Sleep number. Comfort individualized. This holiday season, give the gift thats magical the innovative airfit adjustable pillow at special 30 savings. Stuart the highlight reel is ready. Roll it, please. There will be a big fight today in michigan. It has gone up 1 . I can show you statistics the other way. Stuart there is something to be said about getting more jobs to your states. What these people are doing is lawfully, legally expressing their opinion. This is my definition. If you do not just rely on Interest Income or whatever, you have to go to work to make money. Stuart in which case, the union is not supporting my working family. We should get the unions in there right away. Stuart we could go on with that story for a long time. I want to put a picture on the air for you. This is Charles Paynes wife. I want everybody to hear this. Coming from charles. An update on his wife who two months ago had a heart transplant. Charles i have to say, the viewers haven