He must be watching private planes and got his own private flight to Marthas Vineyard. It wasnt affordable for me and you and the taxpayer. Varney company is about to begin. You know throughout history, folks have suffered from frequent heartburn. Butetting heartburn and then treating day after day is a thing of the past. Block the acid with prilosec otc, and dont get heartburn in the first place. [ male announcer ] one pill each morning 24 hours. Zero heartburn. Charles well the first dog gets first class treatment. President obamas dog bo flown to Marthas Vineyard over the weaken. Joining first family on Summer Vacation t was flown in marine osprey aircraft. This was separate flight. This vacation already costing taxpayers big bucks. The president reserving 70 rooms for his staff each costing more than 300 a night. Liz, a lot of people shaking their heads on this one. Yeah they are. The airport couldnt take the big boeing 747, whatever the plane president flies in. That is so besides the point. Leave your golf bag where youre going and or leave behind a piece of luggage and take the dog on the plane . Charles there is some dispute. There were two ospreys used. There was some dispute whether he came on his own. One osprey can hold 24 with seating, or 32 without a plane. Take the dog in the helicopter. Take the dog. Thats all i say. Charles guys house forget about it. One of those captallists. Listen to this aol Sim Armstrong fired an employee during the middle of conference call. 1,000 people were listening in. Set the scene, orthopedic strong was using conference to raise morale and rally troops ahead of layoffs that would be coming next few weeks as the Company Seeks to revamp what it calls, patch news sights. Put that camera down right now. Able, youre fired , out. Charles right, that wasnt reality tv. Armstrong went on to blame leaks for Company Looking like quote, loserville. Got to tell you i fired people before. That was not bad. But there is a lot of hoopla. That wasnt that bad, at aol, dont bring your camera to workday. So the fact that he fired him on the spot, im just, im thinking that why dont you use that same kind of gutsy moves to really fix aol, right . Charles tim is doing better than i thought he would. I betcha there is history behind that. Speaking of history, that sixweek winning streak is over. Futures pointing to a lower open. The chatter on wall street that a correction is coming, maybe even a crash. Well have a take on the markets when we open. But first this. Pole dancing as an olympic sport. Thats right. Im not talking what i did this weekend. This is not a joke. International pole sports federation, instituting stricter rules and they plan to pitch this as an event at olympics for the committee to consider. A gold medal for pole dancing. The bell is next. Peace of mind is important when youre running a successful business. So wprovide it services you can rely on. 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Dont wait until you become the next victim. Make it happen with the allnew fidelity active trader pro. Its one more innovative reason serious investors are choosing fidelity. Get 200 free trades when you start using active tradeder pro today. Charles echoes of vincent price. Were cueing up the death watch. Even though blackberry will be up at the open because our grim reaper of tech who put blackberry on death watch the first place is coming up later this hour. Were a minute away from the opening bell. Joining the company from chicago, trey can nip past. We were down last week. What is the key support numbers. What level should we look at . What i want to watch is the nasdaq. [opening bell ringing] a lot of people talk about a potential pull back. That is reasonable. Especially more ideas, that some fed tapering is possible. However im of the camp that fed tape everying is absolutely not possible. What you have to worry about what happens when the fed comes out and says they will buy more of something and price of that something works its way lower . There are some markets like that that are trading in that fashion. Those are the markets you want to be the most careful about. Charles trey, i agree with you, it is reasonable. Weve only had a 5 correction this year but a lot of nonfinancial websites, social media chatter, a big crash, everyone is talking about a big crash coming. Are guys on the floor talking about that at all . I wouldnt say so. Are there some Asset Classes i think currently are trading here and will trade at 10 cents on the dollar . Yes, i think those Asset Classes exist. At the top of that list is japanese government bond. Did you see that their debt recently topped 1 quadrillion yen last week . Those bond are never going to be repaid. Do i want to own the debt of municipalities like state of illinois or city of chicago . Not a chance. There are assets i think that have significant downside if you want to call them a crash, go right ahead. But i want to identify Asset Classes i think have significant downside and those are significant oneses. Charles 10 cents on the dollar is significant crash. Were down on the open. Thanks. Dow is under pressure. We saw indications all morning. Well keep a watch on that. I want to shift to blackberry. The company formed a special committee to explore options. Adam, i know you have a blackberry. According to all things d, were less than a month to the new iphone. How do those things relate this morning . Blackberry in 2009 had 50 of the smartphone market. Today they have 3 and falling. Some think they have to buy the company or liquidate it. The share price, trading over 10 a share. Fair value for this Company Analysts say is around 10. Perhaps the investors are believing that lenovo or china mobile may come in to buy some these assets. Market cap is five b they have plenty of cashing on the side. It is dwindling until they do something. When you talk about analysts, what is value here. There is intellectual property, patent rights and mobile device management. Blackberry, be real careful. I love the music you were playing. Charles we have happier music at least of priceline. They were on the cusp of 1,000 you. But i think there losing a little bit of steam. What is going on there . Losing a little bit of steam. They are down. 3 of a percent. 967 where theyre trading. Will they hit 1,000 . Theyre talking about four to 8 what analysts say correction may take some time there. Over 50 , priceline is up. Captain kirk is smiling all the way. It could be a good day for some people. But for blackberry, careful. Charles thank you, adam. Well be back with you real soon. I want to bring in ed boo to us ski in dallas. Ed, we have to say the market is down a little bit here. What is going on . What is pulling the market back right now . Normal trading. This is nothing uncommon. A common summer slowdown. Everybody is digesting Second Quarter numbers. Real soon well focus on the next numbers that are coming out. This is normal trading pattern as we get to the end of the summer. Charles ed, what do you make of a lot of talk were on the cusp of a major crash . Some technical forces, then government things, you know, the debt ceiling debate, everything will sort of hit the fan at the same time. Sure. Charles we have a chart on the screen, very reminiscent when the bottom or when we started to collapse in 2007. Some are saying we are at the same point. Do you buy that . Well, i dont buy it. The events are different. I do believe that stock prices move as you and i talk many times on earnings. However, as trey said it perfect, you do have events happening outside of our borders. Japan, europe and any of those could be the catalyst to start sell, to get the sell programs going. When the sell programs hit, for those of you watching you start hitting these levels which we call support levels, then you break through a support level, hit another support level, then the whole world starts selling off because of computer programs. You cant forecast. You cant manage money based on that but be aware because it could happen. Charles thats right. Selling begats selling. You manage money for a very lot of wealthy people. Right. Charles how do you periodically shift the portfolio or do you when you think, okay, a correction or pullback is long overdue . That is a great question because i get calls all the time what are we doing to prepare ourselves . Were always prepared. Everybodys portfolios should be prepared by having noncorrelated assets. If something happens negatively to the overall stock market these things can go up. We had invests, im not going to name them, that did well in 07 and 08 because we were ready. Those investments are not doing well. That is why i have the gray hair. I always investments arent doing well. That is how a portfolio should be managed. You should have investments prepared for negative events. Charles ed, next time you come on, you dont have to names. I like better understanding of noncorrelated assets. Weve run out of time. Gray hair around all, youre looking better and better every time i see you. Labor activists adopting taxes get this, adopting ox pie wall street tax to the restaurants across the nation. This is an effort to raise minimum wage for workers. Theyre getting taxpayer money to fund the tactics that theyre using and using combination of federal grants and grants from leftleaning organizations. Emac on this particular thing, you know, in new york, at one of the capital grills, people, that is upper tier restaurant a lot of diners sitting there at same time, 12 of them got up, my check, my check. Restaurants sucks. Theyre not paying us, it was pretty aabrasive stuff. Sitting with client or family members you will run out of the place. Liz you are going to run out of the place. This is so key. Viewers snead to pay attention. Theyre skirting the law. Using Labor Centers. Basically they are nonprofits but calling themselves Labor Centers and not union groups they dont have to report certain things to the department of labor. They get to skirt regulations. And get to basically bullly, intimidate management, instead of doing things like collective bargaining sitting with management sitting down. Theyre doing bullying tactics on taxpayer nickel. They got estimated 186,000 in taxpayer, excuse me in grants from 2010 to 2011. Charles federal government, taxpayers paying to have this stuff done. I have to tell you, we negotiate, everybody negotiates all the tile. We want more but i think these tactics are a little too heavyhanded. And you know, it, you used the right word, the intimidation factor. They were outright bullying. That is what theyre intended to do. The aflcios Richard Trumka says this is new model for unions. Set up worker centers. Not outright unions. They can do things like that instead of sitting down with management. Charles imagine Richard Trumka, behind bullying. Imagine that. New at tin. More on the irs scandal. Get this, the agency is still, still targeting Tea Party Groups even after all the controversy. That is is at the top of the hour. I have honors of finding seven stocks moving. This is, on a farm suit company, two upgrades. Jaffrey says it is 27 stock. Focus on Cancer Treatment that uses monocolonial antibodies and target stem cells. That is giant target for them. This stock is up 15, no, 35 since we shared on Varney Company july 16th. Shared Health Services got upgrade. Hospital stocks have done extraordinarily well and probably will under obamacare. Net app, target was raised at baird. Previous target was 34. Company buying back stock and good dividend and lowering costs. Linkedin, they put a buy on the stock. 280 a share. When i was hosting on july 7th i told you liked it at 170. That is up 3 08 . Lowes is interesting goes from hold to sell. Canaccord has 4from target of 28. In other words they were completely wrong. Finally home depot supply, hd supply, last week one day alone got six upgrades. Barons said this could be 42 stock in the next three years. Lets check back on the big board. We opened on a fair amount of pressure. You get the feeling sort of lackluster but also maybe were waiting for something. I tell you, people are waiting for new smartphone. We have two smartphone makers in the news, apple, blackberry. He has already put blackberry on death watch. What does he think of this mornings news now . announcer at scottrade, our clients trade and invest exactly how they want. With scottrades online banking, i get one view of my bank and brokerage accounts with one login. To easily move my money when i need to. 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Bjorn earns unlimited rewas for his Small Business ke theseags to room 12 please. [ garth ] bjors small busiss earns double miles on every purchase every day. Produce delivery. [ bjorn ] just put it on my spark card. [ garth why settle for less . Ahh, oh [ garth ] great businesses deserve limited reward heres your wake up call. [ male announcer get the spark Business Card from capital one and earn unlimited rewards. Choose double miles or 2 cash back on every purchase every day. Whatsn your wallet . [ crows ] now wheres the Snooze Button . Charles well, coming back a little bit. The dow is off 30 two. At one point we were down 626789 well see. Sideways movement at best. Time for your morning gold report. Gold looking amazing right now, up 27. 50, well above the 1300 mark. That doesnt say the fed will stop printing money, thats for sure but absolutely fantastic. By the way i want you to check out shares of steinway, the piano company. The stocks up on word of a buyout offer at 38. You can see it is trading at 39. This is the second buyout offer. We could be in a bidding war for steinway musical instruments. Think that is big news. The stock is up huge. Wall street journal is reporting that we could see two new Iphone Models as early as next month. Polygon cofounder, Russ Koesterich is here with more. They gave you, Russell Simmons first name. Indeed. Charles two new iphones but blackberry is up on maybe theyre seeking a new suitor. Will a suitor pay a new premium . Will this stop them from the inevitable meeting with the grim reaper . I would be really shocked if we saw a suitor coming in and paying a hefty price for blackberry. They are not a company that has a lot of value these days. Obviously weve seen them plummet since 2008 from where they were. And, i dont think they have got that cachet to bring in an interested buyer. They just dont have a lot of future. Charles go ahead. Liz im hearing that maybe lenovo or htc or samsung could pick up the mobile hand units. Then what they do have going for them is the security. They won recently authority to have unapproved status, their secure network. Thats a big deal. If the pentagon is saying yes they like blackberry because of security that is something worth selling. They have three billion of cash on the balance sheet. I think a leveraged buyout and have a private equity guy sitting on its board who used to be on goldman sachs. They could do something with a company in asia. I think there is value in piecemeal perspective. In terms of manufacturing, everything like that i honestly dont think charles lenovo would pay a premium, wouldnt they . Deep pocketed to lizs point . They certainly have the money do it. It depends whether they have r d working on something that could be comparable to that. Charles two weeks ago the stock traded on a lot of volume. There was rumors that the next round of earnings could be better than expected. No . I came here. We took it off death watch with the v10 coming out and tech stuff then it plummeted again. This is not, there is no revival for blackberry. I honestly believe there is no coming back from where they are right now. Charles lets shift gears to apple. Some people are worried that theyre going low market with a cheaper phone. Does it hurt them from a Public Relations point of view . Does it hurt the bottom line . Is this the right move by apple . I honestly think apple will stick with, they will have a highend option that will always be there. They will have lower end options might use older hardware and stuff like that but you will always have the premium model, so people looking at that from apple, highest of the highend will always have it. Charles you remember a few years ago mercedes came out190. It was like 28,000 mercedes and the whole brand suffered pretty significantly. Yeah. Charles one of the things, apple, 700 stock they put out a product people are willing to pay premium for. Yep. Is this acknowledging they dont have that anymore . They acknowledged theyre getting so much competition from samsung and htc and they want to make sure they dont lose that market they become the majority of cell phones out there and theyre not right now. Essentially they are admitting there is demand for maybe slightly cheaper product but apple i think, the premium product, the highend is always going to exist there and people will always view apple as like this very highend company. Liz like the bentley or the rollsroyce of smartphones. That is where they make their money. Tim cook, ceo in apple has been over in china, meeting with china mobile number of times. They could have a limited cheap phone over there to satisfy that market. They can always do a rebranding if they want to. If they dont want the iphone to be lower end, call it something else. Charles before i let you go, Charlie Gasparino was reporting a lot last week perhaps a lot of pressure on the board on tim cook. Do you get a sense he has a little bit of time left to prove himself or hes out . I definitely think he has time left. I dont think theyre charles clock is ticking . The clock is definitely ticking because they havent seen the sort of soaring that they saw under jobs. Like they havent seen that sort of productivity. So he is definitely wary but i think if they put out Something Like the iwatch and something that could be big. Charles well see. Russ vincent price, the grim reaper. Thanks a lot, buddy. No problem. Charles how about this, guys . Los angeles to new york in just 45 minutes. Oh, you need to go to china . Just two hours. Sound like a fantasy . According to tesla founder elon musk its not. It is after this. Charles lets take quick look at a big name you know, priceline. Down a little bit but 9. 6 965. This has been huge. We think it is marching towards that 1,000 a share mark. Tesla ceo elon mask has a whole new way of calfornians to waste taxpayer money. He has plans for high speed transit system. He is calling it the hyper loop later today. Liz, how is this thing going to work . Liz this is his idea, he is pioneer, electromagnetic waves he says powered by solar panels to go twice the speed of airplanes. When people want to sign up to go on the highspeed train to travel rapidly. He says it is immune from crashes. Im not sure this idea which has been around since 1972 is proveable and safe in the modern world. Charles when you do the drivein thing with the bank and liz pneumatic tubes. Charles sort of like the same thing, imagine one from new york to california. You get in the tube and shoot, you know. Liz depends if the consumer will go for it. It is a 6 billiondollar project. Cost of one ride estimates show, half a Million Dollars. I dont know who will be on the pneumatic train. Charles maybe bo the first dog can take a ride. Liz thats right. Charles well see, thanks. Senator john mccain, Edward Snowden is considered a hero by Young Americans. That our youth have no trust in government. Weve got an amazing young republican who will respond to that new at 10 00. Meet a surfer living the high life on food stamps. Former welfare cheat will respond. All new, our Varney Company next. Well, the irs scandal is not going away, but its still going on. Explosive information showing the irs is still targeting Tea Party Groups, the top tax crusader in washington leading the charge to clay obamacare, grover, is in the house. A 68 billion tax bound, google, delayed. Are you surprised . The surfers living high op the hog, and heres a brand new hour of varney and company. First thing, the big bard, down 62 at the lowest point, and grinding our way back if you call it that. Adam, liz, and mack here. The crash rumors this morning, you know, making the markets move, or what else is going on . The fact retail inveesers dumped 92 billion year to date into mutual funds. Last time we have this money was in 2007, and we peaked in october of 2007 and started a long transition down. Thats win of the things to talk about here today is the real money, big money is pulling out, selling. You know, heres the story about mark. The doom and gloom report compared to 1987. At that time, interest rated strip led. Were up one point on the tenyear note. We have an oil boom here in the United States, and the dollar is strengthening, and a lot of Market Players hedged themselves. That was not the case in 1987. Yeah, both, you know, 1987, there was a crash, but it was a great time to get in the market. Senator mccain thinks Young Americans admire Edward Snowden. Listen to this. Theres a young generation that belows hes some kind of jason bourn. Saying Young Americans dont trust government. Political prospect editor joining us now. Kaley, do you agree with the senators assessment . I do. I have to say by i uncategorically disapprove of snowden. Hes a traitor. What he did was patriotic . Can you separate the man himself from the fact that he brought something to our attention that i think a lot of people appreciate. He did, but he did it in the wrong way. You dont bring attention by stealing government documents, fleeing to the enemies, china, russia, and giving this information to them, but that said, my generation has distrust for government, let down economically, politically with the irs scandal, you know, all the various obama scandals, and they dont trust the government. Thats why obama ice disapproval rating fell precipitously when this came out, 17 in a month among my generation. They see snowden as a renegade, a hero, someone fighting for them. Would you say hes like a modern day jesse james precisely. Young people looking for that . They are looking for that person, 5 modern day jesse james, hes fighting for their rights when government doesnt, when government is not fighting for the civil liberty. Ma what about the idea the government has been there, the president touting achievements hes done on behalf of young people. Are they not appreciative . They are not buying it. Youre right, hes touting it. They bought it when they voted him, but not now. Thats why obamas approval is down to 45 . The jobs are not there. The markets are bad. Student loan debts, scandals, spying, nsa, they dont trust him. Achievement is all he wants, but they are not there to be touted. What do young people want . In other words, you know, what exactly are they looking for . What can happen in washington to change their minds about government . Theres a libertarian vent to my generation, and we saw them coalesce. Legalizing marijuann . No, really. No, really, thats true. Things like that, you know, issues of that nature appeal to them so i think a rand paul has a real opportunity to see them coalesce around him. Wait a minute. I thought the Obama Administration, your generation liked the Obama Administration because they talked about forgiving the get, keeping the Interest Rates low and student loans. No, they absolutely did. We saw him vote for him in the election, but the materials, his promises have not materialized, and thats why we see them drop in approval ratings, 45 approval right now, dropping 17 in one month, rejecting him now because he cant govern the way he campaigns. The president is free falling in the eyes of people in your age category. Do they buy into victimization spiel . In other words, you know, a couple weeks ago, theres a series of speeches saying, hey, people, minorities, young people, old people, women, there are not enough opportunities. Theres still too many roadblocks. Do you think that will suck them back in . Do they want to latch on to the victimization thing . I think, yes, and i think thats the one point where they still have biography into obama and agree with him. Its important for republicans to come out, say conservativism in a loving way saying its about love of the individual and believe so much that people can fix and government moves out of the way. What make you frustrated . People your age who more or less dont get it or republicans who dont understand that the way they craft their message is a losing proposition . Exactly. Republicans who dont cross the message is frustrating to me. Compassionate conservatism got bush in the white house winning us to the conservative cause, until republicans come out, speak in this way, speak in the way thats appealing to my generation, they are going to lose. Lets hope 2014 they change the way they package their proposals. Over the weekend, sarah palin said she was on team rand paul. Are you on that team as well . I have not, you know, given support yet. I like jeb bush, rapped paul, we have so many players. Arent they the polar opposites, though . They are, but i like them. Jeb bush was an excellent governor, people are heavily critical of him because of the bush name, but he did wonderful things from florida, for florida, im familiarizian, and i think he would do wonderful things for the nation. We appreciate the insight thats unique, and we appreciate it. Thank you very much, charles. Testimony from irs reviewed in tax exempt applications revealing the irs is still targeting Tea Party Groups three months afandal broke. Liz . Yes, this apparently was an interview happening in or around august 1st, and congressman camp is releasing the information. The irs anonymous agent was asked what is going on currently . Whats happening right now. He said there are no be on the lookout lists for the irs right now, but with the secondary review, at this point, they would send it to secondary screening if theres political advocacy noted there. See right here. Were seeing at this point right here thats what the irs is saying, from a transcript released by daves office. He was asked the agent based on my current managers direction, yeah, they are doing, still, this screening, so the question is, are they still targeting though . Thats the question, charles. You know, i feel like, okay, you know, almost everyone out there, no ones buying the idea theres no Domestic Spying Program or buying the idea certain people were not targeted politically. I just want, youuknow, this smoking gun, you know, feels like a smoking gun more than anything we had since recently, but i want the smoking gun to come out so that this thing can really listen, with the irs, if the irs says its not happening officially from medquarters in dc, thats historically always taken a long time for the lower level workers to get that message and to change their operations. We saw political audits still continuing even after the irs said, no, its not happening. For them to say, officially, the official word is that political targeting of Tea Party Groups is not happening, the message, still, though down in the lower levels, may not have been worked out, and they could still be pick k picking up nonprofit applications of targeting. Doesnt smell right still. Back to adam at the nyse. Biotalks pushing higher. Where now, adam . They are up now 8. 2 , a new high set this morning, 39. 44, new high in the last 52 weeks, year to date high. There was a talk of a buyout, but another Investment Firm upped the Purchase Price to 38 per share, trading again over 39 at this point. So steinway up were not talking about them, but leading the s p higher today, cliff natural resources. You called them last week, charles, well done. I just saw that on the screen, huge, move i appreciate that. You got it, money. Making money with charles. Were not making money with this one. There are calls, though, by republicans to delay or defund obamacare, keep coming, but president obama and democrats are vowing to keep it alive. We are here to talk about it, author of the book beating obamacare, and youve been here with us, this book, you have the muscles of a charles atlas. Its a tactic now to forget about, whats the best tactic . Delay, defund . Okay. Whats at stake here is bigger than defeating obamacare, and for me to say i spent my life fighting the law is big, but the framers of the constitution said that when the president reaches for more power than the constitution allows the president to have, it is the duty of congress to use its tool, defunding, to stop the president from violating the constitution. Thats what is at stake here. The president violated the constitution when he announced that the employer mandate would be delayed. It fundamentally changed the law, and the president doesnt have the power under our system of government to pick and choose what parts of the law. I hear about what the president cant do, but hes doing everything you keep saying he cant do. Thats right. How many times are we going to allow this president to trample the constitution before our freedoms is that rhetorical because i dont have the answer. It is rhetorical, but we have to ask members of congress because many members of congress say, well, i dont want the defunding or the delay because it may backfire on us politically. You know, the president s also been saying if congress doesnt get going, i will do more executive orders. How does this play into this . Well, thats a dangerous thing. You heard the president say many times at xnox college in three years, ill work with congress, but if they refuse, i do it on my own. Well, under our system of government, the president doesnt have the power to make law on his own, and im wondering, how removed from our history and constitutional principles is this president . What do you think hes talking about then . You talked about in the last week or so, hes talked about this more and more. What exactly is he talking about . Its very troubling. I noticed in a press conference last week, he was asked by ed henry, where do you get to power to change the law yourself . In ordinary times issue i go to the speaker, but the house is controlled by republicans against obamacare. Well, ordinary times . Every single president had to deal with a congress that is at least in part against him or from opposite parties. Eisenhower, clintons, reagan, everyone. Deliberately set up that way. Thats right. Federalist 58. Madison said, this is how we control an out of control executive. This, real quick, were going to go into law soon, defunding, window of opportunity. When is the best time to defund it . Right now because the congress everyones away right now. No, the congress has to vote by september 30th on whats called the continuing resolution to fund the government because they never get together on a budget, and some republicans like cruz and lee say we fund the government other than obamacare. The president is unwilling to enforce that law as it was written. He cant have it his own way. What were talking about is the ultimate game of chicken. In other words, the president s going to say its not the ultimate game of chicken. Its the constitution. The president says republicans will not let it be paid for because its one thing, they hold the entire country back. The republicans have to answer saying, mr. President , obey the constitution. All right. Well see. I mean, i know members of congress have to. I saw it on tv, but ill tell you now, this is a huge show down, the ultimate game of chicken. Well see how many republicans are going to have the willingness to do that. I think more and more will they better do whats right rather than politically expent. Grover is on later on talking about delaying it. Well get the other side of it. Appreciate it. Youre the best on this. We appreciate it. Thank you. Three stories coming up. A malaria vaccine, medicare fraud, and what happens to the kids when they watch too much tv . About to bring the doctor in. [ male announcer] surprise youre having triplets. 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With Custom Communications solutions and responsive, dedicated support, we constantly evolve to meet your needs. Every day of the week. Centurylink® your link to whats next. Blackberry shares up this morning as the company says its looking for strategic options. Our tech, grim reaper, though, says in the last hour, he has the company on death watch. Right now, up 5 , 54 cents. Watching apple this morning, they are coming out with a cheaper iphone 5 next month, and that stock is responding well. Look at this. 462, up eight bucks this morning. Im going to make you money with the company you have never heard of. Ying lee green energy, a chinese solar play, stocks on the cusp of a breakout. I think its going to take off. The man out of japan really huge and real because of getting off nuclear, to getting off everything, so watch this stock. The earnings estimates improve rapidly, and its on the cusp of a big move, higher than average risk. All right, a lot of medical news out there morning. Bringing in the doctor with the fox medical ateam, doc, starting with a malaria breakthrough. That could be the Huge Investment down the line. 300 Million People, more than that, have malaria every year and close to a Million People dying worldwide, mainly in africa. It could be a wellmarketed vaccine. First, stage one trials, looking at 57 people. When they gave a high dose of the vaccine, based on malaria itself, taking the malaria itself, there was immunity in five to five out of six people. They bite people with moo mosqus with ma malaria. You have to be hearty to test for a situation like that. What both those against vaccine for third world nations . Weve seen that in the past. Hopefully, if it works, it gets everybody that needs it. Well, we in america pay too little attention in the third wrld until it bites us in the butt. Malaria is the Number One Health department problem in the world, and this is exciting news, very preliminary. The doctor at nih is excited about this. It was a joint effort between the army, navy, and National Institute of aler allergies. Linking poor motor skills to watching tv. I believe this too. 2,000 kids, if they watchedded more than two hours of tv a day, liz, two hours, they had decreased math skills, decreased verbal skills, and increased aggression in kindergarten. I believe this. Look whats on tv. Right, essentially, after they watch this, turn the tv off. Thats what weaver saying. When my son was young, we had the mother found a babysitter, and she was, i dont know, all he did was watch tv. Every time i was home. He was a vegetable. My mother moved in, took the kid out every day for hours. He became vibrant, outgoing, funny, smart, just overnight. Amazing. Well, my 8yearold is combating this saying the verbal skills are fine. Im trying to reduce tv right now. You know, fisher price says we have apps for toddlers, infants, babies, and i say, wait a second, you need a human face interaction with your children for the baby to develop. What happened to talking to people . Thats how you learn social skills. You go that route, you have more rid lin described. Another big business. Doc, before we go, a detroit area doctor, of course, detroit, charged with cheating the government out of tens of millions of dollars deliberately misdiagnosing patients with cancer and illegally billing them for treatment. Oh, my god, if its true, let me tell you something, its a big business. Oncologists prescribe their own chemotherapy, making loot, medicare is cracking down on that, no longer going to be available to do that. This guy apparently, the clinics made 35 million in two years, 24 until many medication. One guy fell, hit the head, and told you have to have chemo before going to the hospital. The parties didnt even have cancer. If this is true, its a real black mark on the medical profession. A guy like this, through him under the prison. No parole, nothing. This is just i mean, disgusting. Absolutely. Great foppics, appreciate it, thanks. Record number of americans on food stamps. You knew that. What are your taxpayer dollars paying for . Try sushi, lobster for this guy. Wake up, go down to the beach, you know, be with my friends, hit on some chicks. You know throughout history, folks have suffered from frequent heartburn. But getting heartburn and then treating day after day is a thing of the past. Block the acid with prilosec otc, and dont get heartburn in the first place. [ male announcer ] one pill each morning. 24 hours. Zero heartburn. Time now for a check of the markets. We have been sideways for well over an hour, dow off 24 points waiting for something big. Tell you what, though, linkedin, all time high new 52 week high hit this morning. They got an upgrade from needham, charles. Price target of 280, upgraded to a buy and said in the report theres unexploited growth opportunities, for instance, mobile advertising. 237, 238, up over 2 . Year to date, up over 100 . Linkedin, not only getting the resume, but making money for investors. And the varney audience too. Were up there. Thanks, adam. Doing a great job, man. Sushi and lobster, what this surfer is buying. Listen to this. Wake up, go to the beach, you know, hang out with my friends, hit on some checks. Got the rain bow roll, ahi, salmon, yellow tail with rice, and then lobster on special, so i got lobster. Star parker with us, former president and founder of cure, the center for renewal an education. Star is another example. What goes on pretty much everywhere; right . It absolutely does. Thats why i hope that the American People finally awaken to what government has done, what they continue to do, and its up to us to stop them. Well, what are you doing . That guy looks like hes chilling. I mean, whats so bad about the way hes living. Nothing bad about it if you think theres nothing wrong with redistribution of wealth. If you think theres nothing wrong with paying into a government system thats on steroids. When you think about our food stamp budget, for instance, root now, thats 80 billion, and theres 2 billion they know is wasted, no idea where the money is, and we dont require them to do certain activities with the money. Theres one of the food programs that actually forces you to buy certain food, and thats the women and infant children. Food Stamp Program doesnt. Its so easy that americans decide im going to go on the system because we have just the ebt card. Looks like your atm card, go to traders, whole foods, and 300,000. Tell you something, yeah, the datas in, one in seven or one in six on food stamps, you know, we want to help the poor, but saving the programs for the poor, you know, charles and i talked about this, and economists say, you know what . Its more expensive to get a job if you have a lot of government help. The left and other media dont want to hear it. They dont, but what the American People have to hear is the programs are not designed to help poor people. Individuals should help poor people, its called charity. What weve done is design governmental Poverty Programs that have some rules. I mean, they have means tests, but many people qualify now, and as you said, 47 million americans qualified for the food Stamp Program. What used to happen, though, is was thereto shame there was shame in it, you didnt want to apply. Now theres no shame. When i grew up, i could be in the supermarket with food stamps, going to the register, and if someone from the building came in, i would go back into the aisle even though i knew they were on food stamps too. We didnt want to see each other with that. Thats right. Its promoted, dont be ashamed, and like its an american right, part of the middle class. Like not just an entitlement, but addicting. The businesses are on it. Of the 400,000 businesses that qualify to accept the cards, if you count their sub side ris and companies, youre talking 800,000 businesses that accept this as a normal way of doing business. If you sell food at all, take the ebt card. When you take that card and theres no shame, remember the food stamps i lived on welfare, food stamps, certain color codes, products, you swipe and its up to the business to decide what qualifies and what doesnt. How do you fix the problem . Well, this is one of the reasons i started my organization, urban cure, what conservatives said for a long time. We need to go into each and every one of the Poverty Program burmingts and stop the madness. We have to reform this significantly. Not a little bandaid like welfare reform, but look at food stamps, 80 billion, at the housing subsidies at 80 billion, and department of education at 80 billion. Its a waste. Thats 250 billion, and its a waste of taxpayers money. How do you craft the message out there that by taking away some of these benefits were helping you, not hurting you . How do you change the narrative saying these are mean spirited people who dont like poor people . Well, i dont know that we can change the narrative because its so out there and it synds like you are helping people, and many have disconnected from helping the poor, but the poor, we keep our eye on who we say were helping, the real poor, in our society, they are looking forward to us making the changes. Look what happened after welfare reform . People sent me Death Threats when i consulted on reforming welfare, and sent me letters, saying, thank you, my child looked at me like i have worth. We have stolen dignity. If you think about the individual that we say were trying to help and keep our eye on them. It shouldnt matter what the rhetoric or what the Mainstream Media says about us hurting people. Were not hurting people when you tell them the truth. You are helping them. I agree. I love the way you put it. How are we now . How do you feel about the pres pecks of the next three years of making real changes . Well, now, this is where messaging is important. When you think about the republicans versus democrat message, the democrats have been in charge of Poverty Programs for 50 years and destroyed our society and the people we say we are trying to help, so it is important that the republicans come up with a specific message on these types of programs so that they take the senate, so that they can begin to reduce the size and scope of government. Great meeting you, finally. I know, in person. From a welfare chief to savior, thank you so much. Thank you. A big fight coming to capitol hill this fall all about obamacare. It could cost democrats control of the senate. We have all the angles covered next. Cue up mrs. Pelosi. You we have to pass the bill so you can find out whats in it away from the fog of the controversy. O o o obamacare battle lines drawn, and rich edson has all the latest details. Rich . Thank you, good morning, charles. Issues from both parties, really, the democrats unease about obama care, and meanwhile, democrats try to implement the Health Care Law with the administration, and you have some unease. You have, though, some comments when it comes to the election, this from jim, the assistant majority leader in the house, saying that the law was basically structured for democrats to run on in the 2014 election, when all the benefits pay out. Meanwhile, the republican side, theres two different strategies developing here. One mostly developing in the senate amongst republicans who in the fight to implement Government Spending, the Government Spending fight to prevent a government shut down, they say, look, we dont defund obamacare. Were not going to defund the government. Theres others within the Republican Party who called that not the way to go. They are looking for some tweaks, perhaps some maybe even delaying the lay for a year. Theres different strategies developing here on how to deal with obamacare in both parties playing out right now. Charles . Rich, thank you very much, appreciate it. Well, americans for tax reform and other republican groups sending a letter to Congressional Republicans demanding a oneyear delay on all of the 2014 provisions of obamacare. Will they be able to stop the bill from moving forwaad . Americans for tax reform president , grover norquist, joins the company. Grover, this is the way to go about it . A oneyear delay . Its the best way to sort of, i dont know, reclaim reestablish footing to later on get rid of the whole thing in sure. The ultimate goal is to eliminate obama care and replace it with a proconsumer health care project. How do you get from here to there. The democrats run the senate, and democrats in the senate who pretend to be moderate work with reid so you have left of center senate, left of center president. The reason i think we can get a oneyear delay is the president knows his legislation is falling apart. Max baucus, democratic leader, head of the finance committee in the senate, says its a train wreck, and the exchanges says we desperately need another year to be ready, so i think the president , without shame could delay it for a year, which means it doesnt get deep roots. Itll be easier to get read up from a conservative republicans perspective, and from a democrat perspective, its a high risk game. If they move forward with a program this flawed going into 2014, so i think its the sort of thing that the president s already decided hes delaying it for his big business friends. We say, delay it for everybody legally. With with the president delayg it for the big business friends, to your point, the goodies are going into place. I read where maybe its going to be 13 billion short right there. Are you saying that to not do any of the coverage aspects, to take all that away as well because i dont see the president going for that one. Well, look, we go in, we say, lets delay the whole thing for a year. There may be pieces of it that we should certainly delay mandates. I think we should delay taxes as well as if you hand out money and dont know who is supposed to get it or not, that the thing to be delayed until it it can work. Have that conversation. The president delayed it for the big business friends, nobody else, just them. Thats not really legal. The president s not allowed to decide he wont enforce certain laws, so lets do this legally. All right. Grover, if you fail at the congressional level, are you redty to take the fight to court to stop Health Reform . Well, i think there should be a legal going to court to deal with the president s nonlegal decision to enforce some laws, not others. That should go to court. As a parallel track with legislation, the president said normally i go to congress, but its not normal time so i go myself. The republicans in the house had a bill that was put forward to delay things. President said hed veto it. The idea that the president really wants to go by the law, but somehow couldnt, hes the one who is demanding that he do it outside the law through the kings edict or something. Grover, now, within a Republican Party, you know, theres other tactics discussed, and i want your opinion on holding up the continuing resolution, holding it hostage to defund it, you know, marco rube owe saying, lets go after obamacare again. I dont know if he was under delay or defund side of the ledger, but would that be too high, too much of a high stakes gambit . Well, look, we got a 2. 5 trillion spending restraint when we went and argued with the president much conservatives, the american president argued for an increase in the debt ceiling in 2011. That was use. That was big. That was important. The president did that thinking he could come back in the future and renegotiate that, and hes failed to be able to do that. I think it is possible to get this president to push something off into the future hoping he could win later. I do think its unlikely that the president of the United States would sign a bill uudoing obamacare when he has the senate and he has the white house. Can you imagine if that was reversed . Would the republicans agree to a tax increase . No. Gun control . No. You cant jam someone if you dont have the clout. What we can do, however, is move something forward that the president could live with. It wouldnt be happy, not happy bout the sequester, wasnt happy about the budget restraint in 2011, but he doesnt have all the power, but he has much. Everyones bracing because we know debt ceiling, continuing resolution, delay, defund obamacare, all that stuff on the horizon, going to be a real, real important time, and, of course, youll be in the center of it all. We appreciate you taking the time this morning. Good to be with you. Same here. Organized labor using occupy wall street tactics to crash restaurants across the country tieing to secure what they call a living wage and you, the taxpayer, well, you are paying for it. Thats next. At a dry cleaner, we replaced people with a machine. What . Customers didnt like it. So why do banks do it . Hello . Hello . if your bank doesnt let you talk to a real person 24 7, u need an ally. Hello . Ally bank. Your money needs an ally. With the bounce dryer bar, my clothes will be fresh out of the drawer for weeks. And its great when things last a long time. Well. Most things. [ male announcer ] how do you get your bounce . [ woman ] cant regret fresh. New yorks top Bank Regulators issuing s pes with big copy z as an inqir ri into business practices. Companies that received subpoenas are copy base, coin instant, and coin cementers. Considering putting blackberry up for sale struggling with apple and androids and smart phones so theres a special committee dedicated to exploring options like ventures, partnership, or a possible sell. Shares of blackberry up 46 cents, almost 5 . Hey, prepare for a new super cheap airline that charges tons of passenger fee, and insiders claim a new Discount Airline could be in the works. I understand go partners invested in Spirit Airlines back in 2006, a large part of them charging dirty cheap fares for sky high fees. Theres the new buy with the airlines. Organized labor, occupy wall street, those all right, back to adam, cliff natural resources, my pick, i love it. Up big today, huh . Not just your pick, but that of a lot of investors. Theres been a lot of traffic in that, but look at this, year to date, down 34 , but over 4 , and part of that has to do with the Capital Markets upgrading them to an out perform with a price target of 9. 29. It was 82 cents, revenue at 1. 49 billion. This is a stock that, as you calledded it, was a little volatile, but had upward trends to go, and, again, right now, trading at 25, up over 44 . That target, not high. Not as robust as i hoped for, you know what i mean . Seems high. Thanks a lot of adam. Earlier this year, detroit, believe it or not, guys, misplaced a 11 1 million check for the school system, found later sitting in a drawer for city hall. The detroit emergency manager says its symbolic how the citys old system slid it into bankruptcy. A bankruptcy city putting a Million Dollar check. Old, antiquated system; right . This is why the state of michigan wont bail out detroit because they didnt get it together in such important key ways to meaning to back off the operations. They paid triple what other cities paid, and the fact that they misplaced a 1 million check in a drawer, come on, electronic deposits, where have you been . Nuts. Labor activists use occupy wall street tactics to force restaurants across the country to pay employees more. The nonprofit Restaurant Opportunity Center getting federal grants to organize worker protests and republicans cry foul. Nancy skinner joins the company with more crying foul as well. Nancy . Hie, yeah, charles, on the detroit thing, because im from detroit, im in detroit. I have to say one thick about that check. Yes, we know that was a big mistake, one million in the drawer, you know, kind of like the 13 billion dollars that went poof in the Bush Administration in iraq. Nancy, come on. Nancy. You know, what was not breaking news, what was not National News is we had an election, a mayor primary, the election last week, and in the city of 80 black population, a white guy, a writein won, a guy who turned around eight hospitals, mike dougin won in a city of 80 africanAmerican People. Why is that not big news . That, you know, somebody because of the fiscal abilities was elected by the people of detroit, so to just say go back to the old, oh, a check missing in the drawer. In reality, though, to talk about fixing anything, i dont care what it is, an alcoholic or whatever it is, first and foremost, admit you have a problem. I think you, to a certain problem did that by electing someone that may be the city might not have elected before. This is the admission they did it wrong the whole time. Well, thats an awful way to put it because a White America elected a black president. Are you saying that White Americans should admit they are racists or alcoholics. I think youre talking, nancy, saying this guy is fiscally responsible . Forget about color. We are talking about a city that since they stopped electing republicans, i dont care about the color, has gone straight downhill, perhaps now they see the light of the need forever fiscal responsibility, a restraint. Well, i dont think it depends on color. It depends on that person. This guy ended up they tried to they got him off the ballot, below it or not by arcane rule because he filed too early, and he still, as a writein candidate, lots of candidates on the ballottings still won. What does that say about the people of detroit . They are sick and tired of being, you know, the punching bag for the National Media and the abuses thats good, listen, im glad that they are sick and tired of it, and maybe they will do the right thing. Switching gears. The minimum wage battle is huge. Its the center piece, the primary focus of the president s economic agenda, higher minimum wage. 15 , and now the tactics used, i dont know its going to work to intimidate restaurants to double someones pay is outrageous to me. Well, again, what else, in michigan, the home of the unions, our governor made michigan a right to work state, eliminated unions all together. What do you want people to do . Collective bargaining, what it did, and in detroit, going back to detroit, henry ford pay workers 5 a day so they could buy the cars so they built the american middle class that made americas superpower. You got mad at me for going back a few months, and you went back decades. I do want to voice one thick. All of this is about redistribution of accountability. You say what do you want people to do . I want them to stop dropping out of school, stop smoking weed, stop having kids out of wedlock, go to college, i want them not 47 of the Adult Population to be illiterate. Thats what i want. Thats what americaments. Straighten up your act, you people in detroit, figure it out, we pray for you as fellow americans. Charles, you said a lot of stereotyping in that. You might have to apologize. I hear ya, maybe, but i doubt it. I was stating all facts. Got to go, nancy, thanks a lot. Appreciation it. Okay. Saw it coming from a mile away, the shovelready high speed train in california . Its delayed again. Thats next. With fidelitys guaranteed onesecond trade execution, we route your order to up to 75 Market Centers to look for the best possible price maybe even better than you expected. Its all part of our goal to execute your trade in one second. Im derrick chan of fidelity investments. Our onesecond trade execution is one more innovative reason serious investors are choosing fidelity. Now get 200 free trades when you on an account. Well, the shovelready high speed project in california is not ready after all. Construction will not start until next year even though it was promised to start this year, and get this, politicians are claiming they underestimated the challenges of a 68 billion project, liz. Why isnt california getting musk on the stick here to help out . The more delays, the more costly it is. They didnt get contracts in place for crossing raillines and waterways, so ill tell you something, thats where its at. The number goes much, much higher. Yeah, thats right. Strong worded tweets from a surprising source, beth miller not happy with the idea of Larry Summers being the next fed chair. Cant wait to see this, next. With the spark cash card from capital one. Boris earns unlimited rewards for his Small Business. Can i get the smith contract, ease . Thank you. Thats three new paper shredders. [ boris ] put em ony spark card. [ garth ] boris Small Business earns 2 cash back on every pchase every day. Great businesses deserve unlimited rewards. Read back the chickens testimony, please. Buk, buk, bukka [ male announcer ] get the spark Business Card from capital one and earn unlimited rewards. Choose 2 cash back or double miles on every purchase every day. Told you id get half. Whats in your walle folks have suffered from frequent heartburn. Butetting heartburn and then treating day after day is a thing of the past. Block the acid with prilosec otc, and dont get heartburn in the first place. [ male announcer ] one pill each morning 24 hours. Zero heartburn. Charles actors giving her two cents. What better way to do it than with twitter. Larry summers has never stepped forward to say, my bad. Five years of worldwide reception and not a peep. I am impressed with that bit. This is a comment on the internet. Roseann barr is [laughter] this is grasping the imagination of people on the internet. Charles great observations. She did bring up the female agenda of it. Thank you. We will pass you off to the man himself, connell. Connell thank you very much, charles. We have blackberry stock way of today. Companies looking for new alternatives. Steve forbes is coming on to tell us about getting rid of that irs. This is interesting. Revolutionizing travel. Elon musk expected to make an announcement today. Nyc to l. A. In 45 minutes. We will