Imus in the morning hang on to your wallet, try to keep your mind from numbing up. Davos is in full swing. Good morning, everyone. Yes, the annual gab fest is underway, the worlds great mind meeting in the alps, grappling with the issues that you and i just cant understand. But i know exactly what they will come up with, a 14 trillion dollar plan to make a greener planet, thats already been proposed. They will move on to taxing the rich some more and then defending the welfare state. In short, president obamas inaugural address will be echoed over there. He gave davos the blueprint and the high and mighty will adopt a collectivist mentality, but we will not. No elitism here, Varney Company is about to begin. [ indistinct shouting ] [ male announcer ] time and sales data. Splitsecond stats. [ indistinct shouting ] its so close to the options floor. [ indistinct shouting, bell dinging ]. Youll bust your brain box. All onhinkorswim from td ameritrade. [ slap ] [ male announcer ] your Favorite Foods fighting you . Fight back fast with tums. Calciumrich tums starts working so fast youll forget you h heartburn. Tum tum tum tum tums watch out, big financial revelation coming, we dont focus much on earnings here, but apple, thats no ordinary company. If you have a mutual fund or an index fund you own a little bit of apple. It it has, by the way become what im calling a door stopper. The stock Price Holding right there around 500 a share. Now, today its expected to report its first drop in profit in a decade. It will make a lot of money, yes, but not as much as the year before and its slowest Profit Growth since 2009. Look at it now, its actually moving up a little bit. Four bucks higher, maybe. Come that opening bell. Now that weve taken care of the big business story of the morning, listen to this, japans finance minister says that the countrys oldest people should just quote, hurry up and die. Thats what he said, saying that would relieve pressure on the state to pay the medical bills of the elderly. Hes perfectly seriously. Heaven forbid if youre forced to live on if you want to die. Would i wake up feeling increasingly bad treatment was paid for by the government. The problem wont be solved unless you let them hurry up and die. Hes apologized, and japan has the most extreme demographics in Human History. And almost a quarter of japans people are 60 and over, that aging population, a serious drain on the companys economy. Frequent Varney Company guest summed up japans predicament in an interesting way, listen to this. You can see anecdotally they sell more adult diaper products than infant. Stuart is that true . Yes, it is. Stuart wow, indeed. Thats the dire situation in japan. Contrast that with the United States. Our proportion of old people far, far lower than japan, and lower than europe, too. A big part of that is because of immigran immigrants. Now this, the former head of the head of the city Teachers Union, that was years ago, she is, however, randy weingarten, now the head of the federation of teachers which is a part of the aflcio and joins us in the next hour, and topic number one, the sixfigure payout. We follow microsoft on this program, i own some of that stuff and we talked to an executive who had the ear of bill gates, he says microsoft chief Steve Ballmer has to go. Also coming up, big news i should say from two names you know, google and ibm, were following both of them at the opening bell. May, everybody, cheer up, were closing in on a record high for the Dow Jones Industrial average. Look, if you have copd like me, you know it can be hard to breathe, and how that feels. 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. 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Tdd 18003452550 open an account with a 50,000 deposit, and get 6 months commissionfree trades. Tdd 18003452550 call 18006530240 tdd 18003452550 and a trading specialist tdd 18003452550 will help you get started today. We are at 13,712 on the Dow Jones Industrial average. Thats roughly 400 points from the alltime record high. Stocks have been going up recently. The opening bell has just finished chiming, and the opening trend is ever so slightly higher. So figure this, everybody. The dow industrials within 400 points of their all time record high. Thats how we kick things off this wednesday morning. Ive got two big names that are going to get things going for us today. First off, big profit at ibm made 5. 8 billion dollars in 13 weeks, thats a lot of money, thanks to software, yes, software at ibm. All right, nicole, it opened where . Ibm is looking good this morning, coming out almost at 4 . 203. 64. And a couple of things, cloud computing, business analytic software. Stuart ibm is a dow stock and the dow is up. 50 points at opening bell. Move on to google, more people clicking on the ads apparently good news for google. How far up is it, tell me . Up 5 for google. Lets take a look at google. Certainly looking good. They had a rebound of the Online Advertising prices. They said total advertising revenue improved 19 in the Fourth Quarter and that was good news. Right now, sitting at 737. 66 looking good and the Company Strength right there for google. Congratulations, nicole, brought us two blockbuster from the getgo, we like that, excellent stuff. Now lets check on apple. Where did that open . Weve been talking for weeks about apple losing its cool. The report later on this afternoon. Slower Profit Growth is expected and dont know whats going to happen is expected. Other things youre socialing with apple, none the lus its opened higher, 510 a share. We like to use the term doorstopper stock on the show, no stock fits that better than microsoft. I should know that, i own a piece of it. Look at the chart over the past ten years, yeah, not a good chart if youre a stock owner of that company. Joining the company from seattle now, former microsoft senior vicepresident , in his new book, he talks about why Steve Ballmer should step down as chief. He joins us now, welcome to the program. And right from the getgo you want Steve Ballmer to go. I want to know what you think was his biggest mistake in the year that hes been the chief . You know, i would say he needs to go. I say maybe has to go. And that, you know. Stuart and thats killing somebody gently, come on. Yeah, this is not my decision at the end its microsoft board will decide that. Stuart whats he done wrong . But i really think that the Company Needs some kind of a leader which appears to the new mobile facebook generation. His numbers, when you look at it, but he is not really very popular with the youngsters, could i say that. Stuart not very popular with the youngsters. You were within microsoft, you were the senior vicepresident. You had the ear of bill gates. You know how people feel within the company and you say that ballmer didnt have the support and popularity amongst younger people. Are you therefore saying that Microsofts Windows 8 and its application on the phone, the lumia phone, not been a success . You know, thats the very important thing to observe. Steve ballmer has to make this windows 8 product popular and what were seeing so far, it isnt going as well as it could be. Do you think it could go a lot better if a young are person were in charge, and more in touch with the young, younger people . I think so. And i believe that the whole issue here is really, they have a great idea. They have unified the interface, from the phone to the tablet to the pc and dont have to relearn. And apple cannot do that and i think its very compelling and if this could be pulled off, i think that Steve Ballmer doesnt have to go. Stuart now, you were the senior vicepresident within microsoft. I presume that you got a lot of microsoft stock when you left and youre Still Holding it. Do you think the stock would go up significantly if ballmer walked away and a younger person became in charge of the mobile stuff . It may be a little bit over an increase in the stock price, but in the end it always comes down to performance as we both know. And by the way, i own no stock in microsoft. I sold they will ten years ago and never touched them again. Stuart then, you, sir, are a very smart guy. I was the guy who bought them ten years ago and nothings happened since. Joachim kempin, we appreciate it, sir. Thank you. Stuart how do we feel about ourselves, about our future . Not that good. A new gallup poll shows only 39 of you and us are positive about the state of the country. This is the lowest reading on optimism since jimmy carter was in office. Joining us now, who else, but Kirsten Powers from the daily beast. Feeling positive today. Stuart im wildly positive. And you listened to the president s speech you and i both want to restore prosperity and optimism to the United States and to do that, i think you and i agree weve got to have Economic Growth, weve got to have it. Do you think that the president s policies as enunciated in that speech are going to give us 4 or 5 growth, do you think so . Well, my crystal ball wasnt working totally perfectly this morning so i cant predict the future for you, but, look, i dont think he was that specific in that speech about what hes going to do. I know a lot of people feel he laid out this very wildly progressive liberal agenda. I didnt really see that. As you know, im still one of the few thats holding out hope that is going to take on entitlements and deal with some of our longterm issues. However. Stuart oh. Didnt send a lot of signals in that speech to do that. Stuart he didnt. His signals why all about were going to tax people some more, were going to tax the rich some more, were not going to cut spending significantly. I didnt hear the taxing as much as i didnt hear anything about cutting spending and i think that i certainly heard the tax thing from senator schumer. He left no doubts. We want more revenue. This is an opportunity to bring in more revenue. Yes. Stuart so taxes are going to go up, spending is really not going to be cut. I just dont see that. And the president is totally, he totally ignored the debt. Ive got to tell you, kirsten, that is not a recipe for firm, strong Economic Growth. Well, he did ignore the debt. I would say that i dont think inaugural speeches are usually a time to sort of ruminate about the problems in the country. George bush didnt talk about how he didnt find wmds in his second inaugural address nor would anybody expect him to. And there there is concern with t the democrats and on the right. And how that is in the shortterm, you asked what kind of growth are we going to have . I dont know that does effect us in the shortterm. The economy could turn around and it could turn around at that rate. That would be wonderful. I think 5 is probably more than what most people are expecting. Stuart i dont think look, one week from today were going to get the big picture reading on Economic Growth and i am told relybly it will be down to 1 growth. 1 and small change maybe. Thats going in the wrong direction. And the thought of higher taxes may drag us down some more. Well, i dont know about i mean, i dont know about the tax issue, but i think that obviously 1 growth, 1 growth is not acceptable. But i also dont think if we dont hit 5 , i think that 5 seems overly optimistic considering where we started, you know, what were coming out of. I think its going be to be a long recovery. And i just want to finish it up because you know, you and i have sparred for a long time now about where you stand within the democrats. I suspect that the president came out more to the left than youre comfortable with, am i right . No. I actually, its funny, i felt like it was a very mainstream speech. Now, if he you know, if in fact hes not going to do anything to tackle longterm entitlement spending and i think defense cuts as well, in the speech i think most of the things he raised were general issues the average american supports the only way he kind of got outside of that was gay rights, but i support gay rights. Stuart fair enough. Were a financial program, thats very true. And Kirsten Powers, we will spar again another day. Have a good day. Stuart back to nicole, mcdonalds barely makes a profit thanks to the value menu. I choose from the value menu. Nicole were not surprised to hear it. They did see profit on the rise, but again, not a great quarter for them and you could see up just 1 10 of a percent, not a good move. Stuart a parfait and a senior coffee to go, a buck 50, not bad. And theyre going to test a tofu burrito at some locations at chipotle. Some people think thats yummy, im for the old school burrito, for the people who are vegetarians, vegans, maybe theyll love it and help chipotle to contain costs because meat costs have been cutting into the revenue and i wont yuck your yum for all of those who love tofu maybe hit chipotle. Stuart look at this, the dow is up 52 points im sorry, 13,764. And the pipeline, environmentally friendly, a new route. This is the story, could the president reverse and say yes to the pipeline . Well see. Time is money, 30 seconds, here are three people in the news today. Secretary of state Hillary Clinton just took responsibility for the attack of the on the u. S. Consulate in benghazi, this is her long awaited congressional testimony concerning the attack that killed ambassador Chris Stevens and three other americans. Israel policy ended today in a stunning deadlock and time for Benjamin Netanyahu to rally a coalition to keep his job. British Prime MinisterDavid Cameron promised a decisive referendum within five years. On the european union. Is there a chance the british people want to get out, yes, there is, but cant express it for five years. Send your emails to varney foxbusiness. Com. Seven early movers, here we go. Starting strong, two stocks that charles featured back in november, how to make money with charles. Here we go, Energy Efficient lighting maker gave an upbeat outlook, if you listened to charles in november you would have bought it then, its now 40 bucks, up 6 today. More than expected robotic Surgery Company known as intuitive surgical. Another charles recommendation that one, 563, its up 45 today. Disappointing profits what i call the democratic luxury company, cogent is down a lot. And disappointing forecast from the chip maker, amd. Forecast not so hot 2 a share for that one of the software maker, ea, the stocks flat. Better than expected for the rail operator csx and that stock is flat. A big name you know, better than expected profits, ethan allen and thats up just a little bit, but the dow is up 55. A doctor at the center of a huge disability fraud scheme helping patients fake injuries. How do you catch someone like that . The man who investigates these cases and exposes the fraud. Listen to how he does it. And so every couple of days somebody will move the car and well take a heavy garbage can and put it in front of the car in the morning and see if they come out to move the can to move the car. Youve got it on videotape. Back pain, theres no back pain if youre moving a garbage can. Absolutely. announcer scottrade knows our clients trade and invest their own way. With scottrades smart text, i can quickly understand my charts, and spend more time trading. Their quick trade bar lets my account follow me online so i can react in realtime. Plus, my local scottrade office is there to help. Because they know i dont trade like everybody. I trade like me. Im with scottrade. announcer scottrade. Voted best Investment Services company. Executor of efficiency. You can spot an amateur from a mile away. While going shoeless and metalfree in seconds. And you. Rent from national. Because only national lets you choo any car in the aisle. And go. You can even take a fullsize or above, and still pay the midsize price. Now this. Will work. [ ale announcer ] just like you, business pro. Just like you. Go naonal. Go like a pro. Another case of massive disability fraud. A doctor on long island new york pleading guilty to a big scheme where Long Island Railroad workers pretended to be disabled so they could get extra benefits. The official complaint says the doctor recommended more than 700 employees for disability benefits, stretched over a decade. Joining the company is a person with cpi investigations and sort of the man who tracks down them and exposes fraud. Welcome back. Thank you. Stuart now, this is a massive fraud. Hundreds of people involved. How did it come to light . How did the investigators crack the case . They look for the big coincidences. You had 75 , i believe the number was 75 of the people who retired during that period went out at 50 years old. 50 and 55 and a number found for disability insurance. It was too much of a coincidence. The doctor himself was the doctor on 50 of the those cases, its not a coincidence. If not for that, somebody who went to the doctor that wasnt awarded the benefits you use that person to gain information whats going on. Stuart so a Long Island Railroad worker becomes the age of 50, goes to the doctor and says, you know, im disabled, i want a disability pension. Happened before they turned 50. This plan was put in place before they retired. So, they would go to this doctor prior to retirement and prior to becoming 50 years old and set up from there and they also had a facilitator that was the liaison between the two different agencies. And this facilitator helped fill out the paper work, prior to the employees retiring to put this whole thing in motion so they would retire at 50 years old in between the ages i believe, 50 and 55 and file to get the disability benefits from the federal government. Stuart disabilities benefits would be extra over on top of what they would get at retirement. Absolutely, absolutely. Stuart and those disability benefits are not taxed at state level. A huge advantage. Right, right. Stuart did they pay the doctor for the disability statement. The doctor was paid and the facilitator was paid i believe cash, i believe 800 to 1200 the doctor received for the initial consultation when he initially started out the fraud plan and facilitator paid for her job. It was a nightmare. Stuart but a lot of money is involved here. A lot of money. Stuart what kind of disabilities did they claim, back pain or what . Back pain, carpal tunnel and now in reading the report it hit home. I come from a long line of transportation workers and you know, my dad, my grandparents, they went out 50 years old and did it the right way, you know . So your father, and grandfather, theyre Railroad Workers and they were legit guys and retired, lifetime, no disability none of that. They played the game straight. Played the game straight. Stuart youre one of the guys who goes after the fraudsters. I wouldnt want you casing me down. Hes esean pinto, come back soon. Time for the gold report, where are we this wednesday morning . 1692, very little changed for the price of gold as of now. How would the New York Times cover the story if donald trump bought the paper . What . This story really is just too good to be true, isnt it . Here comes the company, liz, charles, theyre next. What are you doing . Nothing. Are you stealing our Daughters School supplies and taking them to work . No, i was just looking for my stapler and my. This thing. I save money by using fedex ground and buy my own supplies. Thats a great idea. Im going to go. We got clients in today. [ male announcer ] save on ground shipping at fedex office. Can you imagine paul krugman reporting to donald trump . Can you possibly imagine that . Well, if some new reports are true, it could happen. Trump is reportedly in talks to buy the New York Times. All right, everybody, charles, liz, just imagine, okay, just imagine this, Something Like that. [laughter] all right, look, i think its a pr stunt, i think its a plan. Charles i dont know if its a pr stunt, i think he would love to own the New York Times. Can you imagine the moving van, it wouldnt be the same paper. How about an ambulance, the transient strokes inside if you have donald trump buying the New York Times. Charles a lot of rich people looking at buying the New York Times. If its cheap enough id throw my bid in. Stuart the Keystone Pipeline may still live thanks to the new plan for the governor of nebraska with a plan. And i say maybe a ray of hope for the pipeline. And randy wieingarten responds o criticism over the pay she received when she left a job. Dont miss this. Is there a ray of hope for the Keystone Pipeline . That is. Question. Could bring employment to tens of thousands and bring canadas oil to america. Theres a new route thats more environmentally freently. The ball is in the president s court. The New York Post reported that the epa chief Left Administration because she believed the president was going to approve keystone of the. A lot of speculation involved here. All the supporters have is a new route and political gossip, but if the president did approve the pipeline, it would be a landmark. It would be a very rare example of president obama reversing course. We are upbeat here, and the dow is, indeed, churning towards a record high. That would be an alltime record high. The big board shows the dow at 17368, 14164 is the all time high. We are getting close. Heres our company on this upbeat day. Elizabeth and Charles Annie coal is on the floor of the new york stock exchange. Nicole, coach. I always called it democratic luxury, where Middle America aspires to luxury. Its down huge. Down 15 . Store sales dropped 2 for the holiday quarter, did not do well or see the demands in north america. That did not bode well for them, and the fact some of their rivals did cut it dramatically cutting into the sales as well. Democratic luxury, whatever you want to call it, coach shareholders are crying in their nice leather hand bags today because its not a good day for this particular stock. No, its not. Interesting Economic Indicator too because thats what Middle America buys, aspires to real quality and luxury, and they are not buying. Thats an indicator. Nicole, thank you very much indeed. Dow up 62 now. All right. New at ten, president obama made Climate Change the centerpiece, and now one of two days later, just one day later, the governor of nebraska approved a new route for the Keystone Pipeline and sent it to the president. This revised route supposedly avoids a lot of the environmentally sensitive areas worrying people in the first place and puts the Keystone Pipeline back on the table with the ball back in president obamas court. All right, everybody. He laid out the argument for Climate Control legislation, but now there is, i think, a ray of hope for the Keystone Pipeline. Am i totally out of whack here . There is a ray of hope for the pipeline if the president really does care about the economy, and if he realliments to have a manufacturing renaissance. The only way, the only way, two ways we are competitive with the rest of the world, cant beat them on price with labor, but energy, cheap energy and a cheap dollar. Those are two things the president will get. Liz . The secret reason why the environmentalists hate it. They are fighting it, quote, this is what they are saying, if the Keystone Pipeline is built cancels out the fight to increase auto mile fuel efficiency standards of victories we won under the first term of president obama. In other words, the 900,000 barrels of oil daily from keystone puts more into the earths atmosphere, the carbon, the victory won on mileage efficiency. They are going to fight it to go to jail and arrested to fight it. Thats just show business. All right. Thanks very much. The elite, yes, the elite, the smartest people in the world, they are meeting at the World Economic forum in davos, switzerland. They proposed a 14 trillion greening plan to combat Climate Change. 14 trillion. You want to have a go at this, liz . Who pays for that . Who . We are. Are you kidding. It is corporate welfare for, like, ge and all of that. Wait a minute. Wait a minute. Wait a minute. Youre assuming that American Companies would get some of the money if, indeed, it was raised and spent . Are you kidding me i think they would. That would be a transfer of money someplace else. It would be a transfer of money to the guys who make the technological advances for clean energy, and, listen, im waiting for the separation of business and state. We have separation of church and state; right . I mean, 14 trillion, thats 700 billion a year annually. Thats a lot of money. Will it stop Climate Change . No, of course not. Right. Charles . Sphwressing comment on the website that this would be a way of democracyizing this for nine billion people going forward. This is beyond climate, but a way of leveling the praying field. The philosophy president obama has in america with respect to leveling the playing field, even if it hurts us economically, apply it to the rest of the world. It is the obama blue print, repeated in davos, and we take from our rich people, and we give to them. Absolutely. Thats how you get prosperity. You know, messing around with 14 trillion. We distribution, but the bottom line, india and china is not going for it. While we play these games, theyll march on, and well be, like, guys, can you help us out . Buddy, spare me a trillion. If you heard president obamas address, you heard about Climate Change more than any other single issue. Theres two questions. Will a carbon tax stop Global Warming, and, two, wouldnt fracking help ease our dependence on socalled dirty energy like coal and oil . Fracking helps a lot, i think. We posed the questions to ask to an environmentalist later this hour at 10 35 this morning. Joined by American Federation of teachers president , and we have a lot to ask. I think this is your second appearance, welcome back. Good to see you. I think so. The last time i was in new york, and now im in washington dc. Its frigider than up here. It may be. Theres an issue that i have to put on the table from the top. Just call me randi. Im an englishman, i cant be informal on second meeting. All right, randi. Thank you. A few years ago, you left your job, and you walked away with a check for 194,000 for unused vacation and sick pay in a time when teachers were laid off because of budget restraints. Do you want to revisit that payment, and say if you were embarrassed by the size of that pay out . Look, you know, what i did at that point was do what essentially everyone else who had deferred compensation did, and thats because i pretty much never took a sick day for the 250 years that i was at the Teachers Union, but at the end of the day, what this is about is making sure what i have tried to do my entire life, is make sure that there is transparency, as you awe, and make sure that people get the conditions and the terms they need, and, you know, what we did one last one on the same subject let me just say what we did okay, go on. Let me say what we did in new york while i was president of that great union, is we did a lot to increase the scorings of kids. We did a lot to make sure teachers were paid more. They got 40 more. We did a lot of work. Most people just react to 194,000. By the way, that brought your total compensation, that year, to 600,000. Now, i am told one more on this subject, i am told that you moved out of new york city in the moment that money was paid to avoid the high tax rate in new york city. That at that time you were a tax refugee; is that correct . Actually, thats not correct. What i did, frankly, is that i moved to the place i lived for a long time, moved out of new york city when i was the president of the Teachers Union in the National President because i spend a lot of time in washington, d. C. , and i spent a lot of time in the place i live in long island and gladly pay every sing m bit of my taxes, and, also, when i was the president of both, i actually had my salary cut in half to make sure i did not double dip. You know, at the end of the day, i, you know, it is up to the members, and i think what happens is we work really, really hard to ensure theres the voice of teachers. Couple more issues, and this is what i want to talk about now. Sure. With the argument over guns at the moment and school safety, it seems like theres a couple choices here. Put guns in the hands of teachers, or we can put guns in the hands of professional Security Officers in all schools. Do you favor either of those . Look, i dont think that teachers nor do most americans and most of all, most teachers, we do not believe that teachers should be armed. Okay. We think it is the most frankly, it is the most dangerous and ire spobl responsible proposal heard from the nr ark. At the issue about having schools, they should be safe. Anyone up in newtown understands the traj sigh that has just taken place to the six kids and teachers who attempted to protect children. Armed security guards in schools, in favor of that . We agree with the president that that should be a community decision. When you have places like in new york city where Armed Security guards actually could be more problematic than could be potentially good, the community should make that decision. In a place like newtown where the public wants to have that police presence, we should have that police presence, but theres a i think the fact of what youre saying, go to school in the bronx, theres detectors, security guards, an amazing force that detours anyone coming in with a weapon. Im not sure why armed guards in new york city are problematic or anywhere in the country. How ironic, of course, schools in the bronx are probably safer than the schools in suburban america. Let me put it this way. The metal detectors in the bronx schools would not stop a guy like lanza. What he did was took guns illegally from his mother. He had a large magazine to shoot ten bullets a second, and he shot himself into the school. We have a situation in columbine where there was an armed guard, and it didnt stop the tragedy there. Bottom line is that communities should make the decision about whether to have the police deterrent, but they could decide, as the president said, about having more Guidance Counselors or Mental Health workers, but why not also do the things we need to do about gun violence . Get try to ban some of these large scale ammunitions, do the background checks that we need to do. I have to move on because i got limited time. The l. A. Teachers union agrees to new teacher evaluations using student test scores, course completion, and so they have agreed to teach evaluation, which in the past, your union has been opposed to. The l. A. Teachers agreed to this. Right. Once again is it Going National . Again, just like some of the other socalled facts you had in the beginning. Come on, wait a second, where at the beginning of the interview where my facting were wrong. Tell me. About me moving out of new york city. I paid every single bit of the taxes. That was a public report. That was a published report. Actually, it was wrong. The publication was wrong. Was i wrong about the 194,000 check you got lump sum for unused sick pay and vacation days. Was i wrong . Yes. It was over the course of several years that i received that. It was not a lump sum check . That was the total you received . Not a lump sum check. Again, quoting a published report. I understand. My point is real fast, teachers evaluations, go. The teacher evaluations all throughout the country, teachers have been saying lets have different evaluation processes. In l. A. Weve said that. In florida, we have done that. In baltimore weve done that. All throughout new york state, 95 of the districts in new york state have just agreed to different evaluation processes. What were saying is we want evaluation processes that are about improving student performance and improving our feedback. Were trying different things. The one in l. A. Is a really good model because it has a lot of different kind of factors to it. Sorry, were out of time, appreciate you being with us, come back again, will you . Sure. Thanks so much. See you later. Golf rivals coming together on taxes. Tiger woods says he agrees with mickelson. Tiger lives in florida, a no income state. Shouldnt phil be allowed to move wherever he wants . That story is next with the judge. Apple going to release First Quarter profits this afternoon, guaranteed, but thats all the good news. Some expect it will show the first drop in profits in a decade, and some expect to see the slowest rate of growth in profit since 2009. We have been calling the stock a doorstopper hanging around 500 a share. Its 512 right now up seven bucks. Watch out for the earnings. Im moved to software and reported record profits. The Company Brought in 5. 6 billion in 13 weeks, and stock of ibm soaring, 11 higher at 207. Google made a ton of money from the click of your mouse, a profit of 2. 8 billion. Advertisers are paying less per click, but overall, ad clicks click, but overall, ad clicks are up, google soaring 41, and ut, the judge is next. I need to rethink the core of my portfolio. What i really need is sleep. Introducing the ishares core, Building Blocks for the heart of your 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 investment objectives, risks, charges and expenses. Read and consider it carefully before investing. Risk includes possible loss of principal. train horn vo wherever our trains go, the economy comes to life. Norfolk southern. One line, infinite possibilities. [ male announcer ] it was designed to escape the ordinary. It feels like it can escape gravity. The 2013 cclass coupe. Starting at 37,800. Break k news for the Associated Press fresh off the interview with randi. Union membership as a proportion of the work force falling and falling sharply. Only 11 of American Workers are now unionized, and most of them are in government work occupations. Lowest since the 1930s. Report says teacher unions hit hard. Look at this. Rivals agreeing on taxes. Tiger woods agreeing with Phil Mickelson in an interview woods saying he moved to florida from california back in 1996 because that state, florida, has lower tax rates, and, in fact, it doesnt tax income at a state level. To compare, california has a 13 rate. Florida has no state income tax. Earlier this week, mickelson hinted he might leave california because of higher taxes before backtracking from the comments facing criticism from the left. Now its time to bring in the judge about the mobility of peoples freedom to be mobile. I say that people were trying to stop Phil Mickelson from exercising his freedom of movement. Go. Oh, i think youre correct. I actually think they are being kind because the people trying to stop him are the Tax Collectors, the people who benefit from the taxes collected by california and the manner in which its spent. They dont want him to leave. They want him there as a fair target for the Tax Collectors in california. They cant stop him. No. No. Heres what they can do. In fact, they have done this to you and me and anybody who has a principle residence in the state of new jersey and owns real estate in new jersey. Were we to sell that real estate and move to a another state, we have to pay an extra tax. Theres a tax for tax to the sale of the property. Wait, what, this is a revelation to me. I live in new jersey. Thats why i mentioned it. We both live there and have real estate there. These are my golden years. If i want to go down to florida, i sell the estate in new jersey, whatever it is, and they say i got to pay a tax . Yeah, your lawyer will inform you of this because your lawyer has a legal and ethical obligation to collect the tax from you, the state made a Tax Collector how does my lawyer know im going to florida. He has to ask you questions about where are you going to and whats the principle place of residence. I dont know if california has this. The guess is they do because the more progressive states do. The only one i know of for sure is new jersey. Think about this. The Supreme Court has ruled with near unanimity and utter consistency that the right to move state to state and the right to leave the United States of america is a fundamental liberty akin to freedom of thought, freedom of expression, freedom of worship, selfdefense, privacy, those that highest category of rights we have. Therefore, an exit tax, wherever it applies profoundly unconstitutional. Why is it not found unconstitutional . Its not been challenged yet, and theres no legal opinion. Eventually, there will be. Youre a judge in the state of new jersey, and you were. A case like this had come before me, i would have invalidated it, but it didnt come before me because the tax didnt exist when i was on the bench. Look, i understand Phil Mickelson, great golfer, has fans all across the political spectrum, and like those of us who rely on public approval for our work, tv ratings, golfing fans, you dont want to unnecessarily offend a portion of the base, but what he said is true. Not that the taxes are too high, they are outrageously high. Its an opinion we can have. He has a right to address it. Reagan said walking with your feet. Go to another state with the tax environment being compatible. He has the right to do that. Former president sarcozy has the right to do that. Its like bight going to canada. It would be unthinkable he can do it, but he has the right to do it, and the government cant stop him. Judge, you get it right, you really do. To make it worse, the senator from california, boxer, proposed legislation that would bar you from leaving the United States if you have not yet paid your taxes, not permanently leaving, but even going on a trip. Even a trip . Even on a trip in which you intend to return with assets remaining in the u. S. This is not law or made it to the floor. She proposes it and has other restrictions in mind. Who wouldnt want to leave california . Sorry. My eyes have been opened. Thank you, judge. My pleasure. I didnt know that. Wish i didnt know now. Stop it. Listen to this. My take on the professor who wrote the article telling Phil Mickelson to shut up and pay up. Thats next. This is 100,000. We asked total strangers to watch it for us. Thank you so much. I appreciate it. Ill be right back. They didnt take a dime. How much in fees does your bank take to watch your money . If your bank takes more money than a stranger, you need an ally. Ally bank. Your money needs an ally. Can youlyric can. Aid do this . Lyric can. Lyric can. Lyric by phonak is the worlds only 24 7, 100 invisible hearing device. Its tiny. But lyrics not just about what you cant see. Its about what it can do. Lyric can be worn 24 7 for up to four months, without battery changes. Incredibly easy to live with, lyric can be worn showering, sleeping and exercising. In fact, you might forget its there at all. Call for a riskfree trial. And youll see lyric can also give you exceptionally clear, natural sound in quiet and noisy environments because of how it works with your ears own anatomy. testimonial section testimonial section testimonial section testimonial section testimonial section did you know, 94 of people who use lyric would recommend lyric to a friend or loved one. Can your hearing aid do all this . Lyric can. To learn more about lyrics advanced technology, call or visit trylyric. Com for a riskfree 30day trial offer. Youll also get a free informational dvd and brochure. Why wait . Hear today what a little lyric can do for you. Get the hearing aid that can. Lyric from phonak. Lyric can. The fact remains that japan has thee most demographics recorded in Human History and cant record the rapidly aging population. Almost a quarter of japans people are 60 and older. That aging population, a serious drain on the countrys economy. We brought you that story now last hour, hurry up and die. We play that again because we want the companys reaction. Thats what the minister said in japan, hurry up and die. We cant afford you. Thats astonishing. This guy, himself, is 72 years old. Thats not old in japan. Thats the irony of the story. Heres a young whipper snapper, but it gets back to when people talked about death panels in america. Beyond the morbid aspect of it, when you have a society that promises a lot of things to a lot of people and people live longer longer, were going to be in a situation like that already, maybe as a result of obamacare we have death panels. Theres a worldwide demographic cliff going on, and the entitlement state has to notice it, and the governments in the developed world have to figure out how it to reign it in. Its driving us over the cliff. The finance minister asked them to hurry up and die. Not about himself though rvetion right . All right. People spending a lot of time on facebook could be prone it envy and unhappiness, sadness. Why . Dr. Keith joining us, an outspoken critic of the prevalence of the social media, an answer to the questions at 10 45 today. Lip berman, professor of Public Policy at syracuse university, and when Phil Mickelson complained about the taxes, the professor mocked him. We booked the professor on the show. He canceled. He backed out. Heres my take. The professor is an intellectual coward. He refuses to put the views to a rigorous debate. Thats odd coming from an academic. I think hes hiding. He knows he insulted all the people who work hard and use their drive and ambition to make serious money. He is scared to stand up to an intellectual challenge. Backtracked for a moment, please. Fill mickelson says he pays a tax rate of 63 as a california resident. Hes been hit with tax hikes from the feds, from obamacare, and from governor brown. He suggested, suggested he might move. In come professor berman to stop whining and be thankful he makes more than most calling him lucky, lucky. To us, that is read meat. We dont think successful people are lucky. We dont think 63 is a fair share. We booked the professor to be a guest on the show, and then he canceled. Why . Because he has to, quote, focus on what i get paid to do. Whats that, professor . Indoctrinate the students with socialism . You see, you will not get to see a lively discussion. The professor stays in the tower and will not venture out into the real world of free speech. He is an intellectual coward. 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The prices back up, but the golden state has a new trend in hybrids, however, will a per mile tax be coming californias way . Interesting question. Is driving a prius imposing a carbon tax really our answer to making the u. S. Energy independent . The answer to Global Warming . Is it . Theres got to be a better way. What about fracking . Joining us now is the executive director of the Climate Science coalition of america. Steve, a pleasure. Welcome back. Good to see you again. Good morning, great to be here. Of all the proposals, and in particular, one to combat Climate Change, regardless of whether we like the tax or not, would it work . Would it help . Tell us. Well, the carbon tax has been proposed by some, a tax on carbon dioxide, a tax on hot air, proposed by some to be a way to close the budget deficit, and, second, to solve the problem of Global Warming, but it wont do either, and its a tax on refineries, industry, and utilities and will slow the u. S. Economy rate, the price of gasoline, goods, food, electricity, and so it will probably reduce federal revenues, not helping with the budget deficit. Thats interesting because its billed as were doing something, showing the world were tackling this Carbon Emissions problem. We are doing something. Its also billed as a big revenue raiser for the government. I think thats the motivation. Now, in the long run, you could say it reduces government revenues because its slowing the economy, but initially, it would be a gusher of money, now, wouldnt it . Well, thats very attractive. More than a hundred billion dollars a year, but the republicans in the house have already passed a resolution before a bill was grue deuce introduced saying its a bad idea. Are you writing it off . It wouldnt work, is that what you are saying, steve . I dont know, i think its going to raise, but its not going to do anything about the climate. The theory of Global Warming says Greenhouse Gases in the atmosphere capture radiation going in space to warm the surface of the planet, but it breaks down because water strapper is the largest greenhouse gas, and natural factors cause 99 of the greenhouse effect. Manmade emissions only cause one part in 100. If we completely eliminate emissions, we do not effect Global Temperatures at all. Im sorry, i thought the science was in . We humans had been proven to be responsible, but i digress. One more for you real fast. Yep. It is my opinion, and tell me if im right or wrong, widespread use of fracking to extract the natural gas we got under america would do more to reduce Carbon Emissions than almost any other thing that we could do short term, am i right in well, it we have seen a decline in u. S. Emissions over the last few years because utilities burn natural gas rather than coal, but the real big issue is that this is a tremendous boom for theist economy. Natural Gas Production is up 25 in the last ten years, and now we use fracking to remove tight oil from shale, oil, crude Oil Production grew 14 last year, now predicted the u. S. Will wile the biggest crude oil producer by the year 2020. Bp says that the u. S. Will be energy selfsufficient by the year 2030, and people compared fracking to the fall of the berlin wall of politics. Its a boom for the economy. That assumes we go ahead with fracking on a wider scale already, and the Obama Administration did not give the go ahead yet. Will we go ahead vigorously with fracking for natural gas and oil, will we . I think we will, but the environmental groups and epa are aiming at fracking. It is not really an environmental problem. The two issues are leaking the gas from the vertical shaft and waste water. State regulations cover those very, very well, and more than 500,000 wells have been fracked in the last three decades, and the examples of water contamination is counted on one hand with fingers remaining. Its not a huge environmental issue. Steve, thank you jr. Joining us and straightening us out. Any time. Back to the markets. Joining the company now from chicago is larry levin with trading advantage. Larry, we started out this morning with the dow climbing to within, what, 400 points of the alltime record high, were still up 47. Do you think were going to go straight into record territory . Move above 14,000, whatever the old high was. Are we going to get there . Yeah, i think we will. In fact, the actually high was 14198. We settled lower than that. That was a number number of yea, but its within rates. I dont think you see it this week, that would be a 400 point move in the dow. We rallied. Theres going to be a pull back and then reaching up to that level. Look for it in the next two to three weeks. In play in the next two months, thats for sure. I read an article in the wall street journal today that said the professional Money Managers are saying the retail crowd, thats people like me, syringes, me, individuals, coming back into stocks. Have you seen that . Absolutely, every time were near a high. Its talked about, you and i are talking about it, its noted, and they jump in. Its not the best thing to do or for your viewers just to jump in now. Look for pull backs. Dont buy the highs, but you see this situation. People buy the highs when were at the top because a lot, you know, a lot of play, and every one jumps in. Thank you very much indeed. Charles, thats what you have been saying. I disagree is when they tell people to wait for a dip. Okay, but, hes a trader. I know, i know, im just saying the audience is not traders, and they wait for dips in five years, and they didnt get the dip they wanted. If you want to be in the market, be in the market. By the way, 40 of investors own one stock. Thats not invested. Buy the market, a lot of sphoks, diversify, add to it. 40 of investors by one stock. In the market, riding that one. Probably apple. Like a horse at the track, you know . How much do you use facebook . How does it make you feel about your own life . Negative . Does it make you feel sad . Were all about the social networks with dr. Keith next. Take a look at this, Ethan Allen Furniture company, better than expected, and the retailers, like many otherrings, did not point out the effects of hurricane sandy. Orders were higher despite sandy. The stock, well, now, its flat. The organic food company, making those cheddar bunnies you give your kids, or some give them to their kids for a snack, i dont. Started a voluntary recall because of possible contaminated food. Thats not organic. Making time to leave france to avoid the 75 tax rate. He would make the move to set up a billion dollar Investment Fund in london. How about that . Thats like bill clinton going to canada. Dr. Keith next. And i honestly didnt think i would ever quit. [ male announcer ] along with support, chantix is proven to help people quit smoking. It reduces the urge to smoke. It put me at ease that you could smoke on the first week. [ male announcer ] some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix. If you notice any of these stop taking chantix and call your doctor right away. Tell your doctor about any history of depression or other Mental Health problems, which could get worse while taking chantix. Dont take chantix if youve had a serious allergic or skin reaction to it. If you develop these stop taking chantix and see your doctor right away as some can be lifethreatening. 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Facebook may be causing you sadness in your life, and ewe didnt even know it. A new study out of germany says that, well, they invented the word angst i believe, looking at other peoples happy moments could make you envious and causing you to hate your own life. Dr. Keith is here with us, and this is a serious subject; right . Absolutely. How is it possible that if i use facebook it makes me sad, go. The researchers asked over 300 respondents what they think people experience when they look at facebook. One in three people said envy, jealousy, and they said thats the most recent time they can remember experiencing those feelings was while looking at facebook. Rationally speaking, if you think about what facebook is, there are many reality tv versions of peoples lives, and these people have combed through thousands of photos to post the ones that look the most attractive of themselves having fun. Nobody has problems on facebook. They are blocking unwanted feedback. Its a recipe not only for other people to feel bad, but for people to be tremendously narcissistic because they are getting only positive feedback and pretending, by the way, that they have hundreds of thousands of, quote, friends. You dont like social networks, do you . You think theres something fundamentally wrong with the way we use them, and its changing us, individuals, and society, you think that, dont you . Removing people from reality such that they cant cope with their problems, and they will be everyone tent in coping with the problems our country and culture face. Its a Virtual Reality thats not real. Its no different than any other drug. It takes you away from your real feelings and your real experiences and coaxes you into a narcissistic panic that is going to be the same as the high on coke. There is nothing you can do about it. There is. There actually are things you can do. Number one, you can try, itll be hard, but you can dry to limit your kids exposure, delay it, or give voice to the fact this is bad for you. Even dealing with smoking across so many millions and millions of people, the fact people said, look, its bad for you, may have set the stage for people to say, you know, im going to quit. Im the father of six, you think i should tell my children, hey, this may be bad for you. Not maybe. This is a toxic pathological vice that you are participating in. The worst part of it is i do it too. It will hurt you for sure. It will hurt you. What are other things you can do . Get them outside. Let them play catch and have to really catch the ball. Not they cant pretend. Get a pet. A pet will love you if youre nice to it, and if you train, it did doesnt go to the bathroom in the stuff. Real stuff is the antedote to this nonsense. Pr is for how good your life is, but just tell the viewers what is the typical teenager going to look like on facebook when he walks into a job opportunity . Well, when you walk into a job opportunity, you look like a narcissist; right . The bottom line is only ten years ago, if you posted hundreds of pictures of yourself, you are called crazy; right . People everybodys doing it, were all narcissists, and the potential employer has nothing to go on. Its very tough to pretend that youre a balanced, serious person if youre posting foe tees pictures of yourself drinking in short shorts. The bigger problem is what it sets you up for are fictions. You dont have hundreds of friends. You dont have thousands. Its not right to post hundreds of thousands of pictures of yourself. Nobody cares. The fact you think, not you, but a person thinks it is okay, that means they are all the way down the road already to being high. Good stuff. Why dont you see you more often on the program . Im busy on facebook and twitter, and i cant do the real stuff. We thank you very much. You seem to have a great life on facebook. I dont have a Facebook Page. The show does. Oh, by the way, we got to go, but watch look at our Facebook Page today, because you got to see it. Facebook, everybody. Back in a moment. Its good, its good. You got to see it. Its bad no, its good, its good. If youre trying to take amtrack from new york city to the newark airport, theres a problem. Service is down affecting a lot of travelers, blee me. Okay, service down. We dont do a lot of ceo interviews, but we have an exception. The guests company is booms, yes, booming because of obamacare. Joining the company is the chief at medical equipment. Welcome, good to see you. Thank you for having me. What do you do fast thats booming because of obamacare . We make the connection between the parties and the doctors and the Insurance Companies and provide services to solve the problem. Its the number one oh, the ser rye sus business. Whats that got to do with obamacare . It is covered. We get more and more parties treated as we speak. Youre the middle guy here; right . No, were not. No . Were a medical device company, but we went to the next step which is how do we get the patient, make them now theres a solution out there for them to get a cost efficient clinical solution. Obamacare, how does that come in . More patients, opens up the doors. We provide solutions. We are Global Health care. Get the commercial for the company, youre the ceo of photo medics. I want to know this. Obama care comes along, how much does your business expand . Doubling, tripling, what are you doing . G we grew four times in four years. 400 . 400 . And what with obamacare in 2014, then what . Well get more patients. Triple, double, what are you going to do . We cant talk about that. Were a public company. Okay. We cant project. Okay, i gave you a commercial. [laughter] dont you forget it. I want you to remember that. Okay. Back after this, everybody