Transcripts For FBC Varney Company 20131108

Past few months or even a year, it is anything but robust. The president finally apologizes for all those americans losing their Health Insurance despite his promise, but of course he hedged it, a lot. The day after the twitter ipo, jumping in the stock yesterday, so there is nowhere for the stock to go but down. Only one way for us to go here on Varney Company, and we are about to begin. When we made our commitment to the gulf, bp had two big goals help the gulf recover and learn from what happened so we could be i n tell you safety is atfer the heart of everything we do. Weve added cuttingedge technology, like a new deepwater well cap and a stateoftheart monitoring center, whe experts watch over all drilling activity twentyfourseven. And were sharing what weve learned, we n all produce energy more safely. Our commitment has never been stronger. Charles yes, were going to get to that jobs report, but first this from president obama. The other big headline for the morning and it is hard to say im sorry. I am sorry they are finding themselves in the situation based on assurances they got from me. Weve got to work harder to make sure they know we hear them and we are going do everything we can to deal with folks who find themselves in a tough position. Charles paul conway is in d. C. Are you buying the president s policy . No, im actually not. It shallow for his ability to emphasize. It is important to understand the context for how we got the apology. Four things have happened. One, meeting with 14 democrats concerned with their reelection. Meeting with insurance executives. His polling numbers dropped to 40 , and this issue, insurance, had a democrat 35 million enjoying a doubledigit lead dropped to within three points and almost lose. That is what drove the apology. I think it is sincere . Not at all. Charles we have seen the president hit the road all the time. He does the fence all the time. If he really was contrite and sincere, he could have done this to the American Public. But your point it doesnt seem like it is that sincere at all. I dont think so. Idoes not take that long for an official to say i messed up. Charles were going to talk to you about this and more on the jobs report next. We want to talk about a whole lot of things. The twitter ipo. Going to cut through all of the hype. Right now w he wants to get rigt to it, the opening bell is next. [ male aouncer ] what if a Small Company became big business overnight . Like, real big. Then expanded . Or their new product tanked . Or not . What if they embrace new technology instead . Imagine a companys future with the future of trading. Company profile. A Research Tool on thiorswim. From td ameritrade. Bounce keeps my clothes fresh for weeks, even when theyve been sitting in the drawer a lo time. Like those jeans you cant fit into anymore. Uh. By that, i mean. [ male announcer ] how do you get your bounce . Longlasting freshness. If hey breathings hard. Me, [ male announcer ] how do you get your bounce . Know the feeling . Copd includes emphysema and chronic bronchitis. Spiriva is a oncedaily inhaled copd maintenance treatment that helps open my obstructed. Spiriva helps me breathe easier. Spiriva handihaler tiotropium bromide inhalation pder doestell your doctor if youg inhahave kney problems,ptoms. Glaucoma, trouble urinating, or an enlarged prostate. These may worsen with spiriva. Discuss all medicines you take, en eye drops. Stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells, you get hives, vision changes or eye pain, or problems passing urine. Other side effects include dry mouth and constipation. Nothing can reverse copd. Does breathing with copd spiriva hweigh you down . Ter. Dont wait to ask your doctor about spiriva. How old is the oldest person youve known . We gave people a sticker and had them show us. We learned a lot of us have known someone whos lived well into their 90s. And thats a gat thing. Bu even though were living longer, one thing that hasnt changed much is the official retirement age. The question is how do you make sure you have the money you need to enjoy all of these years. Charles so, you satisfied with the president s apology . The responses are gushing in and we will share those responses later on in the show. Minute away from the opening bell. Scott, of course twitter have a big hit. Yesterday, but took a what exactly is going on . Some are calling it a twitter top. Fear of maybe taking with a taper because of a decent isn number. U. S. Economy may be turning around and have some irrational exuberance, theyre going to have to show some growth and revenue. It is not an upside. We have had a good 10 months and when we have a good 10 months to prove the next two months are up 4 . Charles the big board, the stock market is up, all over the place this morning. This stuff is all over the place, but it a lot better than people thought a moment ago. How did open . Nicole the stock is higher for groupon today. Wider loss, were sales, doesnt that sound terrible . Some of this is because theyre testing the version of the website that does not require an email address. In that case they could expand the Customer Base because getting the emails, et cetera. That could add broad base Customer Base. Charles how about this one, it is day two for twitter, what are we looking like so far . Nicole im glad it is day two and not day one. Twitter today 46. 03. Above the open yesterday, above the lows of the day, but not quite back to the highs of yesterday. The highest was 50. 09. I hope some of our viewers to not buy it at 49 or 50 and are seeing it at 46 today. Charles i am surprised it is holding up so far, but good news. Priceline booking increased already up this year, they took a plunge and they turned around in the aftermarket. Walt disney continues their great year. Across all of the businesses, up 35 this year. Investors disappointed with the prophets but right now the stock still moving higher, slightly higher. You know the scary shutdown going to wreck the economy, how about the fact the economy added 80,000 more jobs than expected, asking you to hold on, want to go to you first. In the grand scheme of things 200,000 jobs, this recovery isnt a big deal. We would be set up for failure, the media surrounded the wagon saying this is going to be a bad number but it is the republicans fault. Came out a lot better. Yeah, it did. Anit retails and bars and restaurants. The thing to keep in mind here is the best number is 250, 350,000 jobs. We will reject the narratives of how the shutdown the government ruined the economy. That just is not accurate. Charles there is one narrative that is a little unnerving. The parttime jobs were up for the month over 8 Million People working parttime for economic reasons. Speaker that is an important number to keep an eye on. That part time number is very important to keep an eye on. Yeah to keep in mind two out of three jobs are both small business. Small business accounts for the gdp. More and more pressure obamacare has in that sector, the less and less growth you are going to see. That is what they are probably telling the president behind closed doors. Charles Elizabeth Macdonald is with us, you have even more on this. Liz 207,000 jobs, talking what we saw in the last quarter. The jobs report today is back to where we were in 2012. The department of labor officials said a Government Shutdown had no discernible impact on private sector in october. For an official to say it. Charles we will see if he has a job tomorrow. What exactly did they get for 4 million . The state websites are just as big of a disaster as the old one. Charles the state websites are doing great, if only the states said you run the exchange. If they left the states themselves. That is not the narrative. What were seeing now is an issue coming out of research that colorado, california, they run their own website and they are running into problems and it is getting to the point even Insurance Broker in california now says this storyline when they say the states are being a great response, overwhelmed. That is not the case. The staff is wrong. People are calling so many times because the website is not functioning. The outpouring of the reaction to the website is because it is not functioning. Charles for people is just outraggous. Lets pray and former economic advisor, professor at the university of Chicago School of business. First the president s apology. What is your reaction to that . They had a lot of problems with the website, and the small segment of the website in the individual market before. I thought it was appropriate, he should apologize. Ultimately whether the obamacare ends up getting over these problems initially is all that is going to matter. If they dont, people will say his apology didnt make any difference, and if they do people will forget the apology so i think it is just a blip. Charles obviously for millions of people who have received these letters saying your coverage is canceled, it doesnt ring as sincere. You can get a word they are coming because this is a promise, but getting the election, there was a time out there, i want to ask about the jobs report, awesome. A lot bigger than expected, 204,000 in the grand scheme of things still not good enough. Both of those statements true. I think people are still trying to process how could that be. Im surprised you were not asking me did you think the shutdown was actually good, should we have another shutdown. Charles if youre asking me, the answer is yes. We have this debate all the time, right . When government gets smaller, the private sector seems to be emboldened and they thrive a little bit. So i fully expect to see the tea party guys getting up saying this until january. The more interesting number was the previous month got revised up in a big way. Thinking this summer was pretty disappointing. The summer was not disappointing at all. Charles we are playing a game with expectations. We lower them to the point we can celebrate what is essentially mediocrity. They went and revised the august number 230 something thousand jobs created. That is a pretty decent size number. That will bring an employment rate down. 238,000 fourthquarter number, 207,000, were basically back to where we were last quarter of 2012, First Quarter of this year. Not exactly. Charles i will say we can agree americas capable of doing a lot better. We have run out of time. I love when youre on the the show, so look forward to seeing you again real soon. Mcdonalds reported again sales miss the mark so how are those shares reacting . Nicole global sales on the rise but the problem is japan. For numbers, that group all fe fell, that is mainly due to negative results from japan. In the meantime shares are down 0. 15, and the analyst one part of concern, one reason for concern is they feel mcdonalds may not be reaching consumer demand as quickly moving with demand as quickly as wendys and burger king. I dont know, they seem to be bringing out all of the good stuff like salads at mcdonalds. Charles they might be a victim of their success right now, but this is a series of bad memories. Listen, we are not exploding to the upside but a lot of people thought when the jobs number came in, taking away the punch bowl and the market was down big. All over the place right now. The band that you have heard about is it actually good for you . Dr. Marc siegel coming up next. 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 quk 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 ranked highest in investor satisction with selfdirected services by j. D. Power and associates. Once wrote something on a sheet of paper and placed it in his ctory for all to see. Four simple words where the meaning has nevebeen lost. The challenge always accepted. And the calling forever answered. Introducing the allnew 2014 sclass. Mercedesbenz. The best or nothing. Introducing the allnew 2014 sclass. So ally bank has a that wothats correct. A rate. Cause im really nervous about getting trapped. Whys that . , ma . Go g hel i ve mreass. Ok, u d withur rse yr ra cd. Ifur re onhis es u you canoo. Oh that sounds nice. Dont feel trapped with the ally raise your rate cd. Ally bank. Your money needs an ally. Charles gaining a little traction. Up 38 points, not too bad. A positive reaction to positive news throwing a whole lot of people in turmoil. We will see if it holds up. Time for your morning gold report. 1300 was the key number. They are reacting as if the fed is going to cut off its spigots. A couple of stocks making news for you, lions gate had a solid quarter last quarter, catching fire hits this quarter. Stocks are up huge over the last several years. This is a stock i have mentioned several times. We are okay. Up 7 . The fda looking to cut the transfats. Requiring the Food Industry pay them out so we want to bring in dr. Siegel. It feels more of nanny state. If i wanted transfats, why cant i have it available . He would say this is the government parading in. Herehere is the problem i haveh this, they are really bad for you, they are only used. Government says marijuana is cool but transfat arent . Speak of it become another argument on you. Knonote the replace them with question marks saturated fats like butter. That is the flip side of the argument. If you get rid of transfats, is not like they will be replaced by something. Liz is like putting cisco in your veins. Increases number of people who have heart attacks. It decreases. Liz averaging 1 gram of trans fat per day without knowing it. Already meet and dairy. Walmart. Spiegel that give clarity to this. It leads to heart disease, raises bad cholesterol but there are places with other things that are bad for you like butter. I agree with your argument. Charles i want to go to the second statement because this is probably the big thing of the day. Obamacare. What do you think of obamacare in general . The president s apology is too little too late. If you think the president , listen, these draft regulations issued in june of 2010. If the president wants to apologize, let him repeal those draft regulations. What they say are certain restrictions have been placed or they cannot grandfathered in. Before you are saying the administration knew millions of people would be losing their coverage. Now he is apologizing. Here is the clarity on this. The draft regulations issued by irs, health and Human Services and the department of labor. They were widely terrorized. All over fox news, all over fox business psp one there has been an assortment of documentation. We know they knew this. It was not i am sorry i lied to you, the apology is more like im sorry you are losing it but ultimately you are going to get something much better. Youre going to get a medicaid insurance you will qualify if doctors like me dont take. You choose the word. Charles i might choose the last one because i can pronounce it better. After the break another big story really important to you and could be important for everyone. Talking about a possible cure for cancer. The doctor will respond to this after the break. Writes now this seems to be our best weapon to make this a more chronic disease that you can live with this tumor. Sometimes they just dropn. Always obvious. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. Charles dr. Marc siegel still with us. Were talking way possible cancer vaccine and it sounds promissng. The vaccine has been lifechanging for me. What you see before you is what you get. Energy levels at an alltime high. To say anything negative about this that i think with this vaccine and with the proper nutrition, i think that a lot of positive things could happen. Charles that was pretty powerful stuff. Does it work . Im impressed by it. For prostate and for brain cancer it is stage three trials being tested at 48 centers around the country. That putting the patient we just showed had brain cancer which in two years he has lived more than that already and no sign of recurrence. The scenes to and triple lifespan. Doesnt have the side effects you would associate with chemotherapy. They use the two mode to provoke an antivirus pons. An immune system response to all the proteins challenge our own immune system and it fights it as if it were an infection fighting off a cold or a virus or a strep throat. Why is it better than previous vaccines . This one is much better because those always target a single option i try to guess what it is about the tumor that is most deadly smith uses the entire tumor. Charres trading at 1 per share, where is the skepticism of this . The Cancer Vaccines have not been game changing. Only a few months here or there. This one is being tested and the results on brain cancer which do what he wants to weigh in to that one because it is already looking. The fda is not giving a timetable on that obvious. You may see this coming out. I am very optimistic on this. Charles at tech pioneer who knows a thing or two about security. John mcafee is here to talk about how safe more information is on the obama exchanges. So we could be a better, safer energy company. I can tell you safety is at the heart of everything we do. Weve added cuttingedge technology, like a new deepwater well cap and a stateoftheart monitoring center, whe experts watch over all drilling activity twentyfourseven. And were sharing what weve learned, so we can all produce energy more safely. Our commitment has never been stronger. No two people have the same financial goals. Pnc works with you to understand yours and help plan for your retirement. Visit a branch or call now for your personal retirement review. Charles so you think the obamacare is a disaster and the website is a complete failure . Wait until you hear what john mcafee the pioneer of internet security. Jeanine turner, conservative commentator will respond to the president s policy. Vince gilligan of forgive him. Breaking bad. How much does he credit netflix for the shows success. Founder of lululemon, says maybe your thighs are too fat or big for his pants. The woman of Varney Company are chomping at the bit to respond. Who will pay0,000 for a barrel of wine . Weve got all that with Monica Crowley here this hour. Charles guys, first out the box, president obama apologized to everyone losing their Health Insurance. Listen exactly to what he had to say. I am sorry that they, you know, are finding themselves in this situation based on assurances they got from me. Weve got to work hard to make sure that they know ww hear them and were going to do everything we can to deal with folks who find themselves in a tough position as a consequence of this. Charles all right. Monica crowley joins us now. This apology was all about those 16 senators who went to meet him the other day, wasnt it . Listen where to begin with this nonapology, apology. This president and this white house knew all along millions of people were going to lose their health plan. Charles right. We have all the evidence this president news. We get this, im sorry you feel that way kind of apology. This is a sorry i got caught apology. Youre exactly right, 15 senators all up for reelection next year, all very vulnerable. They went to the white house and basically screamed at him. This president cares less about his own party than he does about the idealogical agenda which obamacare represents. Liz big names like dick durbin and al franken. Charles big eclectic names too. Liz we hear them. He wasnt saying well, we hear the American People who are being hurt bit law when he was saying arguing last week, it only means if, if your plans change. Charles right. Liz back then we hear them. Listen, an apology from the president , im sorry doesnt help when the irs, irs wont take an im sorry. Doesnt help the middle class families losing their coverage or Cancer Patients losing their coverage and doctors and people theyre seeing, their jobs cuts. Charles the president , he did not apologize for being dishonest to the American Public. Right. Hes saying well, im sorry thaw find yourselves in this position as if it was some sort of active thing that they did to get themselves into this position where theyre losing their health plan. No, it was his law that has his name on it which has forced these people into this position. Liz i said the irs wont take an im sorry, im said the irs wont take im sorry from the American People. Charles of course not. Heres the thing. No adjustments are being made. If youre sorry, if youre contrite, if you hear my pain, if you feel it, what are you doing about it . If he were sincere then he should have turned and in the same tinner view and said, here is how sorry i am. I will support the bipartisan bill making through congress to allow American People to keep plans they have. Republicans and democrats are putting this forward. Circle back to the original promise made over 30 times. May have won him reelection. Guys one of the problems security. Wed right now, it comes up every now and then. Take a listen to what Kathleen Sebelius said when she was asked about the obamacare navigators. A convicted felon could be a navigator and could acquire sensitive personal information from an individual unbeknownst to them . That is possible. So its possible. A felon could be handling your personal information while youre trying to sign up for obamacare. You add that to the addition that hackers have been licking their chops about this hinge. We have to bring our next guest, a guy who knows a whole lot about cyber security. Lets bring in Mcafee Antivirus Software founder, john mack canfy. John, where do you want to begin on this . Lets start with the structure of the website and how easy it is to steal peoples information. Well, lets start with who is most likely to steal your information. Charles okay. A couple of weeks ago it was pointed out that in the source code there was a statement, you have no reasonable right to privacy or no reasonable expectations of privacy and any data submitted to this site can be used by any agency for any purpose. And then sebelius came out and said well take that out of the code and that, you know, theres no problem. However it doesnt matter whether that is in the code or not. The federal Information Security Management Act of 2002 mandates that any governmental agency, whether be cia, nsa, military intelligence can access any information on the obamacare website without having access, requiring access to the law. Now you know what is going to happen here. Obviously if you dont have to get a court order, if you dont have to prove you need the information, then were all going to be monitored by every agency of the government. Now keep in mind the federal Information Security Management Act, is an offshoot of the patriot act. And patriot is an acronym providing appropriate tools to intercept and obstruct terrorism. Intercept. That act now is being used to spy on americans easily. John, i got to tell you, that part obviously has a lot of people up in arms, but you know, there is also from what ive read reports out the site itself is so poorly structured not only agencies within our government who have, legal access to it, but anyone could have access to our information . Oh absolutely, absolutely. So full of holes, like i said, hackers are look licking their chops is not much has been done because no one is using the system yet. They say now were handling traffic with no problem. That is because the traffic is 1 100 the traffic it started out as. So when people begin to use it in force, well have serious problems. People will be, as i said Bank Accounts will be emptied, not just by hackers but by the exchanges ttemselves because there are no controls. There are no security points that can guaranty the security of our data or that our data is not being used against us by people of ill will. Charles can this be fixed way theyre going about it right now . Feels like a real haphazard way with these artificial timelines to get it fixed back up and running. Is that the dumb way to go about this . Well it is certainly the improper way to go and probably you can get it fixed to the point it will look good on the surface but it will still be full of holes. The only way to fix this from a security standpoint, again im interested in Computer Security more than any other aspect of the system, from a security standpoint you can not fix the holes without completely redoing the architecture and meaning throwing the thing out and start over. It will look good and people can say i can get on now and have no problems, it will be so full of holes no one in their right mind would use it. Charles what do you make of the notion, john, they have hired a whole bunch of of people, they call them navigators and theyre paying them a lot of money could be anyone. Convicted felons going around to peoples homes and answering phone calls and taking immense amount of personal information, what do you make of that part of this thing . Well i think what happened his, this was an afterthought. Right up front people didnt realize that you will have to have human intervention at some point within these states to train the Insurance Companies, staff at the Insurance Companies and to educate the American Public at the entry point. And this is an afterthought. So now theyre scrambling and when you scramble you only do the wrong thing always and you will create more security holes and you will create more problems in the end. Charles right. Again, this system, truly it has to be shut down and started over. You must start from scratch if this is going to work properly. Charles john, the notion that our Bank Accounts might be emptied out, probably was the big headline there but you touched on a lot things. We really appreciate it. Love to have you back soon. Thank you. Thank you, sir. Charles i want to get back to the markets now. You big whichty, stuart and i have a lot of fun with that. Nicole, where are the shares . How about alltime high. You like that . You have a lot of fun with that. Wouldnt you love to hear of a new high, 44. 50. They had record quarterly results. Analysts jumping on board, web bush, wunderlich. Ub i. Q. Uiti. Why do you care . They have 10 million devices in over 180 countries. That makes me care and the market caps nearly four billion, if charles picked it then i really even care extra because it is up charles thank you very much. It was making mmney with charles pick more than once. A lot of varney viewers own the stock. May not make up for avon complete but goes in a stip in the right direction. Check on the big board. Investors needs the jobs report. Street didnt know how to deal with ii. 204,000 jobs. Market is up slightly. Monica, this whole notion that, on average, it is 190,000 jobs, that this is new normal sort of tells you something about the American Public. Seems like we have accepted a new normal of mediocrity. To that point the Labor Participation rate is down to 62. 8 . These are historic lows of the people who are eligible to work full time who are not, for whatever reason, not in the labor force. Youre so right about this. This is, what we are seeing here in Obamas America and this obama economy is not the traditional american engine of job creation and economic growth. During the reagan recovery by contrast you had months where we were creating 500, 600, 800,000 jobs a month. That is what a recovery in america should look like, not these paltry numbers. Still the left, the white house, leftist media all celebrating this number as if it is some kind of a great achievement. It is not. Charles yeah. Liz it is a gimpy recovery. The roof didnt fall n i dont think we can cheer that. Charles said it is up to monicas point, the roofs falling in on friday, the roofs falling in on friday, and the roofs falling in on friday and god 2 doesnt. This guy is rocking. There is no shame anymore in washington, d. C. When it comes to charles did you watch the market initially, emac . Now there is the notion that the fed is going to start tapering a little bit. Liz were debating that they do that by march. They may not. Were relying on the fed Forward Guidance, not ceos Forward Guidance of their own earnings. Charles the fed is not the American Public. They understand in this number the Participation Rate went down. They understand in this number, a lot of partime jobs went up. They understand, in this numbers the labor force was down 720,000. They dont have to necessarily buy into the spin or the hype. That is exactly right. This is about ben bernanke, right . Rates are inching up. You have to watch that. Other thing to keep in mind, this gets to the whole question about size of government. This came during the Government Shutdown. Charles supposed to kill the economy. Republicans killed it imagine that. Less government emboldened big business. Liz look at number. 90. 6 Million People are not in the labor force who would want to work. Incredible. Charles i want to do a study people working part time because they want to work part time. That is dangerous phenomena. That is almost 19 Million People. That is interesting number. I think im a good stockpicker. I think i made a lot of money for people this year. Investing in wines . We have someone after the break that said it is an amazing place to put your cash. Thats next.  . . [woman]ask me. [announcer]. If you think the best bed for one of you might be a compromise for the other one. [woman]ask me about our tempurpedic. [announcer] theyre sleeping on the newest tempurpedic bed. E new tempur choice. [man]two people. Two remotes. [announcer] firmness settings for thhead,legs,and back. And with tempur on top,that famous tempurpedic comfort comes any way you like it [woman]ask me about the lumbar button. [man]shes got her side. Andi. [announcer] tempurpedic. The most highly recommended bed in america. [woman]dont touch my side so i deserve a small businessredit card with amazing rewards. With the spark cascard from capital one, i get 2 cash back on ery purchase, every day. I break my back around here. Finay soones recognizing me with unlimited rewards meetings start at 11, cindy. [ male announcer get the spark Business Card om capital one. Choose 2 cash back or double miles on every purchase, every d. Whats in your wallet . I need your timesheets, Larry Charles were all about numbers. I have bottom one for you. Treasury is report that irs issued 4 billion in fraudulent tax returns last year. People using stolen identities. Some money went to addresses in bulgaria, iowa, lithuania. Liz, 655 to a single address in lithuania. Liz this is Identity Theft that john mcafee was warning about. Who signs up for insurance prior to the exchanges, on the web . Who does that . What is scary about this the irs official say it is getting more aggressive with Identity Theft. Charles isnt it something, 655 checks to the same address in lithuania. Nobody in the irs caught that . What are we talking about. Lets not lose sight of the fact that the irs will be Enforcement Agency for obamacare. Charles yeah. They cant even track this . Now they will enforce your health care . Charles the guy who founded beaniebabies, secret account in switzerland. Didnt tell his accountants about it, whatever. Ended up making 3 million. This week he was sentenced, part of the sentence or fine, 50 milliondollar fine for not paying 3 million in profits. Get a guy like that gave millions to charity, millions to charity and send 4 billion to bulgaria or ireland. 655 checks to one address in lithuania. Nobody catches it. Charles incredible. Talk about incredible in a different bay. A bottle of wine make as great gift in the holidays but how about entire bail. We have the head of wine sales at christies. We talked about this in the morning meeting. People can buy a barrel. Wine . Right. So every year, every fall after the harvest in burgundy, we have a an action for the charity that goes to charities in france and supports childrens education and so forth. And we have, this year we have 443barrels, the land has been donated. We have harvested the grapes, crushed them, made the wine or hospice has. Christies is hosting the auction in bonn. This is 300 per barrel. That is a lot of wine. Charles takes 18 months, 24 months . What we call the time takes for the wine to term in the barrel properly to bottle. Charles you can put your private label on bottle. You can. Have a charles payne. Charles how much would that cost me. There are different barrels. They start off charles they are auctioned off, each barrel is actioned off sepprately. In appalachia. The burgundy is divide in smallville landings. They go 40 to 50,000 a case. Sometimes for a barrel, sometimes a little bit more. Lesser barrels are about 4,000, 5,000 a barrel. Charles monica, that is right up our alley. Good thing i saved my money that i can go bid on this. Charles youre having a auction, traditional action as well. We have four bottles there, the first white caps are lower, that is which is is from the hospice. And then we have the colon which is from the hospice this is coming up in the auction next friday the 15th in manhattan. 195. Charles what is the estimate boeing into the auction. The estimate for that is eight to 12,000. Charles how does it work . Listen, i got to tell you years ago i thought i was going to be a wine collector. I got wine spectator. Bought bottles and looking grades. I had friends over and one day we ran out of beer and we drank the wine. That was end of my career. How do you judge it, you know . What are the fundamentals of this . So, first of all, if youre buying to drink which i think a lot of people should start buying that way before you buy for investing which one do you like . Do you like burgundy . Do you like tuscan and or do you like bardot. Learn as much as you can about the region and producers. Charles is it strictly a supply and demand thing . Are there other factors that determine how much they go for . It is quality. Charles quality . Better the quality, the more labor that goes into making lines. Liz these are not screw tops, arent they. No. Liz totally kiding. Wine out of a box . We dont have that. Wine out of a barrel. Charles typically when the guests come they always leave one thing for us to okay. Liz how about the 12,000 bottle . Im coming back then looking for a job here. Charles thank you very much. Appreciate it. Congratulations. Thank you. Charles all right. Two stories after the break. One, prosecutors arrested outside walmart, protesters were arrested outside walmart demanding higher living wages. Two, lululemons founder blames womens bodies on the problems. The founder said this. Both of these stories coming up next. [ male announcer ] imine this cute blob is metamucil. And this pk is the inside of your body. See, the special psyllium fiber in metamucil actually gels. And that geing hes to lower some cholesterol. Metacil. 3 amazing benefits in 1 super fiber. How old is t oldest person youve known . We gave people a sticker and had them show us. We learned a lot of us have known someone whos lived well into their 90s. And thats a great thing. But even though were living longer, one thing that hasnt changed much is t official retirement age. The question is how do you make sure you have the money you need to enjoy all of these years. Charles all right, guys, time for a check on the big board. The market, you know what . This is a nice move, up 75 points. We had a sentiment number less than expected but the market is moving much higher. Twitter after the day after. Obviously a huge day yesterday. Pulling back. This is what a lot of people, including myself suspected what would happen. It hit 50 bucks yesterday. We started giving some of that back down two bucks, over 4 . We had strong profits at priceline. Bookings increased. Stock got hammered in the aftermarket. But it turned around. Made a huge move so far this morn. More than 50 walmart workers and supporters, they were arrested in Downtown Los Angeles for protesting what theyre calling poverty wages. List and monica, i want to talk to you. This issue is coming up a lot. It frustrates me because i think sometimes people put themselves in positions where there are only certain jobs theyre qualified for. I dont see where Publiclytraded Company or private business obligation to pay them more than the market demands. Liz you know, i see both sides of what is going on here, and its a really bad economy. Listen, walmart job is a great job for a person who wants that job, who knows what the job is all about. The idea that its a gratefultime job for somebody who is unemployed and prior to this, thats the pain of this jobless recovery, right . This is not a gratefultime job. A lot of kids to raise. And heading to college, right . But the other side of it too, walmart does provide benefits. It provides Health Benefits and 401 k s to a lot of workers. Its a Great Company to work for, you know . Look, theres a lot of pressure. Walmart has been under a lot of pressure for a long time. Charles unionization. Kicked out of new york city. Wanted to hope open a great walmart in new york. Unions got on it. They said, no way. Youre right, walmarts mission is to turn a profit. It is not a charity. It is to turn a profit. The fact that they provide so many jobs for low skill or lowincome folks and other people, parttime work, whatever, that is an added benefit but it is not their responsibilityyto make sure that the person is making x number of dollars. Liz when you see these protests, keep in mind walmart is moving a aggressively into grocery space. A lot of groceries weres were unionized and that is union push. Charles a lot of protesters dont work for walmart. Interlopers trying to stir up the pot for a lot of reasons. Because of Welfare Society were living in, the government running out of money and want the private sector to chip in. Remember when the abercrombie ceo said the clothes are not for fat people. Since then the stock is down 38 . I wonder if the founder of lululemon saw this. He is blaming yoga pants size being too big. Lululemon fanatic on the new york stock exchange. Nicole, youre in great shape, but as woman or consumer, how does that make you feel . Overall, i think that these companies, Abercrombie Fitch and lululemon need to be very careful. If the customer is 100pound more than you would like, too bad. They are not your runway models. That being said, if someone is in lululemon pants, which are the tight, tight, growing today pants and they dont like great as maybe they could or they would like to, then maybe i just dont need to look or maybe theyre stretching material beyond what it goes. I dont know. But i can tell you no one wants to hear whether youre slim, heavy, whatever, i dont want to hear, you dont fit in these clothes because youre too fat. Thats terrible . Liz reminds me of Abercrombie Fitch crack from the ceo. I dont think its a good strategy to offend a big swath of your Customer Base. I have yet to see these yoga pants come with instructions so they dont get pily as he is talking about. Charles to a certain degree a copout. Our pants are typically good as long as there is no friction. You charge a big premium for those yoga pants they better work. By the way these are woman who want to get in shape or staying in shape buying the product f youre selling the product who care is buying it as long as customer actually has money to purchase the product, who cares . Charles this guy, the by the way the founder, pushed out the ceo. There was a mistake with the yoga pants, right. Their ceo was a phenomenal woman. She was a great ceo. She made one mistake. She was on top of this. He had the board canned her. I think is is out of his mind. I think his ego will kill the company. Biggest show in history, big ratings, big money, you know the show, breaking bad. We have the creator, vince gilligan. He is right after the break. What did you say to babyface . Did you say anything stupid . By stupid i mean anything at all . Look at your mouth open, vocal chords a twitter. Well talk about later. Right now you out. 10 minutes ago. There are laws to have your kin garthen teacher read them to you. Have a juice box, have a nap. Go on. Charles if youre one of the millions of breaking bad fans you know the music really well. We creator, writer director, producer of breaking bad, vince gilligan. He joins us from los angeles this morning. You and the cast of this show are the hottest twice in the world right now. You know, help us out. Tell us how this all came about, the breakthrough that you guys have made and how it all feels . It feels wonderful. I did not perceive this show ever really getting on the air, really, letting alone turning into something of a cultural phenomenon. It has been amazing sixyear ride for me and cast, Bryan Cranston and wonderful cast and crew. I didnt see it coming like this but who knew. Charles who knew. Well you guys changed history. Cable television, what is happening from creative point of view, from the eyeballs that youre fetching, dynamics changed completely in the television industry, havent they . They sure have. The dynamics change ad lot. I mean its a wonderful economic model i guess to have only 13 episodes in a season versus the typical broadcast Network Model of 22 to 24. That is where i came from. I used to work on the xfiles as an employee, not as a boss. But doing 24 a year is a real grind and 13, tracks folks like me more because the less episodes you make the better each episode can be, at least theoretically. Strips, hi, this is Monica Crowley. First i cant believe im talking to you right now because im a huge breaking bad fanatic and im in severe withdrawal. I just want you to know with the end of the series. I actually discovered breaking bad on netflix. I know youre talking about that whole dynamic. I actually missed the first two seasons. The wordofmouth was so extraordinary about this. I think this happens to be the best drama ever made for television. Finally i was able to catch up. Then became a total obsessive like so many millions of people. Let me ask you, you only did five seasons with the show. When you started out did you have the arc of the story already in mind . You knew that it was going to have a beginning an a middle and an end . I definitely knew there was, this was a finite story. Unlike, typically television is sort of designed to be openended, to be indefinite. And this, from the very first pitch, from the getgo when i talked to folks at sony and amc, i said this is story which we take the good guy and he transforms himself into the bad guy. So it is this finite story. Its a story of transformation. However at that point i cant say that i had the number of seasons plotted out. I was kind of winging it. I didnt know how many they would give me first of all. Then i wasnt sure exactly, from good to bad, you know how bad walter white could get. Liz what is so great, vince, about your work, it is the writing. Were in the day and of two dimensional cartoon characters, superheroes. The writing on the show, the Character Development is so compelling, tell us what you have in store . Whats next. Well, next up, we are taking one of our wonderful breaking bad characters, saul good man, played by the marvelous bob odenkirk. He is kind of the shyster lawyer who is walter whites consiglieri if you will. He will have his own show and a be a prequel. Well have a lot of fun with it. Bob is great to work with. Peter gould and i will create the show and get it up and running. It will be pretty funny. Not a straight out comedy, not flatout, because in the breaking bad world there is always life and death drama. Well have a mixture of the two i think. Charles vince, urban legend that john cusack and Matthew Broderick turned down roles of walter white . You know i didnt interact with those gentlemen directly. The thing typically with a tv series or a movie, you have somebody generates a wishlist of actors, and i got to tell you though, for me there was only one guy on my wishlist from day one. The guy i actually wrote the thing for, that was Bryan Cranston. I was fortunate to have worked with him for years before. So that was the only guy i had. Charles you guys worked on xfiles together. Thats where you saw his brilliance, isnt it . Absolutely. This was a guy, he walked in. He auditioned for the part. I didnt know him from adam. He just nailed it this was an episode which he played a really scary, nasty repellant guy. Yet, you had to feel bad for him at the end. I find out yearandahalf later he does malcolm in the middle. My god, i didnt know the guy could be funny. Lets talk about the future here. You know, broadcast television, you know, you talked about the idea thaw guys make on the cable side, that there are fewer episode so you can be more creative. You dont have to maybe make things or spread out the creativity. But it also feels to me they went down this reality tv road, hook, line and sinker. A lot cheaper. Big profits, big eyeballs. Feels maybe they got the message and theyre coming back. Does this mean Great Television for everybody, you know, broadcast, cable . Are we in for a lot of treats to come . I hope so. I got to tell you, we all know we live in the greatest country in the world and we have, we have, because its such a democracy and you know, in true democratic fashion weve got 500 channels. There should be a channel for everybody. There should be a show for everybody. I love idea of more of a cable model which you make fewer episodes perhaps but you gear them for all kinds of different folks. It is sort of when everyone is chasing same demographic of 18 to 34yearold guys it goes awry, seems to me, not being an expert on it but still. Charles got to tell you everyone considering you an expert right now. You have a heck after feather in your cap. You have a spinoff coming but every day you open your door and fedex guys say four or five other new proposals. What else are you looking at . There is a cbs series that is going to be up and running soon. I write a pilot about 11 years ago for cbs. It is called battle creek. I unfortunately dont have the time to work on it day in, day out at this point but it is in very good hands. Gentleman named david schorr who fox viewers, fox Network Viewers know from the tv show house, he created and ran that for yate years will be running for battlecreek. He will knock it out of the park. They went to cold case file. Anything with vince gilley gilligans name on it, are you crazy . You redefined television for the better and thanks a lot, vince. Thank you, guys. Appreciate it very much. By now you heard it the president s apology or socalled apology for all those insurance plans that are being canceled because of his health care lawings, but what do real americans think about losing their plans . Do they like or think they like this . Do they think Something Like this . Hey, sorry. [doorbell ringing] im sorry. [doorbell ringing] im sorry. When we made ourommitment the gulf, bp had two big goals help the gulf recover and learn from what happened so we could be a better, safer. I can tell you safety is at the heart of everything we do. Weve added cuttingedge technology, like a new deepwater well cap and a stateoftheart monitoring center, whe experts watcover all drilling activity twentyfourseven. And were sharing what weve learned, so we can all produce energy more safely. Our commitment has never been stronger. Charles 2 04,000 jobs created in october not nearly enough. Income rose 0. 5 . Lets check on the big board. Markets are up, dow is up 76 points. Cocacola as you can see, they plan to invest more than 4 4 billion in between 2016 and 2017. They want to build new factories and ad more products. Also name ad new ceo at the company, the stock is up 32 . Blackberry will new ceo as well as stock awards. Could potentially be5 milliondollars. Can that save the company . I dont know. The shares are unchanged. Look at twitter debuted yesterday. President obamas socalled apology cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. Charles we got to get back to the jobs report. We have peter barnes in washington. Peter the jobs number was better than expected. How is the white house spinning it . That it would have been even better had it not been for the republican shutdown. and that the Government Shutdown and republicans are to blame and they need to you know, come around support the president s job creation policies to get things better, charles. So sticking to the talking points. Charles i cant say im surprised but i got to tell you, they put a lot of time and effort into bracing for worstcase scenario. Liz also peter is reported on this too. Third quarter gdp came in at 2 . Cbo and shut down would shave a full percentage point from gdp. Didnt happen. Didnt happen. Liz businesses increasing inventories and consumer spending. Charles youre right. All this good news but they were bracing us for bad news but it could have been better news . Right. You know, this is politics. This is spin, all right. I do want to point out, that the head of the bureau of labor statistics said in her statement this morning, looking at october Payroll Survey estimates, there were no discernible impacts of the partial federal government shut down on the estimates of employment. The bls says that the shutdown did not hurt private sector employers. I got to tell you. I think it emboldened private sector employers. If we get Smaller Government it will embolden them even more but well see. Peter, thanks a lot. , appreciate it. Thank you, charles. Charles we have breaking news for you on obamacare. Just moments ago Kathleen Sebelius saying, quote, there is no plan at this point regarding the cancellation of all those insurance policies. Sebelius says though the president , following his apology has asked for options. Any reaction, guys . Meals like maybe theyre setting us up were exploring this. Maybe well delay some things or change some things . Liz we have reaction from mr. John boehner out of the house saying, quote, the president was well aware he was misleading the country when he promised americans they could keep their plan under obamacare. He does not have a lot of creditability when now he says he is looking for a solution. Charles lets bring in radio talk show host, jeanine turner. She is in dallas. Youre in what i consider the heartland. Real people listen to your show. What are they saying, what are they telling you so far about the president s apology . Well what theyre saying is apology is very nice. We all know obama seems like a nice guy. Really his leadership and ability to be honest with the American People that is still in question. And i believe, this is what happens when the democrats govern based on ideology. This whole obamacare bill was based purely and voted purely on ideology. And this is a mess we get. Not to mention, when the bills are so incredibly big, that none of us understand whats going on. So a president , or Kathleen Sebelius can get up there and say, this was in the bill and we find out that is not what is in the bill and i am very, very concerned about incomprehensible bills that nobody understands that keeps us in the dark. Because if they kept them for, 30 pages i have a true fact and petition at jeanine turner. Com, if we kept the bills to 30 pages we would not be in this mess right now. Pass little bills. One domino into another, there wouldnt be this confusion. Charles also, general mean jeanine, feels like ego play as huge role in this. A lot of people said if they go through the typical vetting process, the delay would have been delayed nine months. It would have worked out the gate. But the president says, no, well go october 1st, no matter what. No matter what the warning signs are, no matter what the facts are, when the president wants it done it is his ego gets it done. This is what happens when we govern by party ideology. George washington warned about this in his farewell address that it would be demise of america because people think more about being in the party than what is best for america. I think it is playing out in spades across the board. Time for us as americans, to say wait a minute, we need to demand we understand the bills in the future, make them small. Immigration is coming next. We dont want another incomprehensible bill. Ekeep the bills small, put them up in for 30 days so we know what is going on. This is in my truth act. Charles read the things before we pass them and instead of waiting for the fog disappear, a la nancy pelosi. Theyre three days in advance for the American People. You know how big they are. Theyre 2,000 in legal code. Nobody understands it. My truth act, not only 30 pages single subject, fifth grade reading level. Thomas jefferson should be able to know what is in the bills. James madison warned if they were too voluminous. We deserve to know. Unfortunately we may need one page bills for the short Attention Span of some American Voters these days. We appreciate you. Love having you on. Thanks a lot. Well come back to you real soon. Thank you. Charles after the break, rock solid proof that the nfl is king. Juggernaut in the ratings. That means big money, all those numbers, after this. [ bell ringing, applause ] five tech stocks with more than a 10 . Change in aftermarket trading. All the tech stocks with a market cap. Of at least 50 billion. Are up on the day. 12 lowvolume stocks. Breaking into 52week highs. Six upcoming earningplays. Thatecently gapped up. [ male announcer ] now the world is your trading floor. Get realtime market scanning wherever you are with the mobile trader app. From td ameritrade. Pop in the drum of any machine. To wash any size load. It dissolves in any temperature, en cold. Tideod pop in. Stand out. [ male announcer ] the parking lot helps by lettinus know whosoming. The carts keep everyone on the right track. The power tools iroduce themselves. All the bits and bulbs keep themselves stocked. And the doors even handle the checkout so we can work on that thing thats stuck in the thing. [ femaleannouncer ] today, cisco is connecting the internet of everything. So everyone goes home happy. Coming up on lou dobbs tonight, 7 00 eastern, money and lots of it. Power, betrayal and the creation of one of the worlds most powerful internet tools, hatching twitter. An authoith the never before told backstory of the founders of the social media giant. Theyre rich. Tonight, 7 00 eastern. So you wonder what everybodys watching this season . Well if you guessed football you guessed right. Since the season kicked off in september, nfl games accounted for eight teen of the most watched programs on television. Average viewing audience, 16. 8 Million People. That is more viewers than the world series which actually didnt even rank, emac. I know. Tell you something, time and again we see this. We see what the viewers want. These shows, the nfl is delivering, packaging of the shows are excellent. Im one much those 16. 5 every sunday. Im watching my new york jets. They have had a sketchy season. Im still watching them. Nfll is huge business. How they spend their sundays monday nights, thursday nights across the board. Huge business and huge entertainment. Great games too. Last nights game was great too. Unfortunately the redskins lofted. Did you buy president obamas apology on losing coverage and exchanges . Well get your take next. My asthmas under control. I get out a lot. Except when its too cold. Like the last three weekends. Asthma doesnt affect my job. You missed the meeting again last week it doesnt affect mfamily. Your coughing woke me up again. I wish youd take me to the park. I dont use my rescue inhaler a lot. Depends on what you mean by a lot. Coping with asthma isnt controlling it. Test your level of control at asthma. Com, then talk to your doctor. There may be more you could do for your asthma. Try align. Its the number one ge recommended probiotic that helps maintain digestive balance. Stay in the groove with align. So we asked you this morning on facebook and twitter whether you thought, you know the president s apology on the obamacare fiasco is genuine. Here is some of the things you had to say. He said he doesnt have to work hard to hear us. In fact he does everything to avoid hearing us. Joanne said, you could tell by his demeanor he was choking on the words. Actions, speak louder than words. Glen said, it reminded me of a convict talking to the family of his victims during sentencing part of the trial to get a lesser sentence. Ah. Interesting stuff. What do you think . You know the president should have come right out of the box said, you know what . I see what is going on with the American People being hurt by my Health Reform bill. You have to wonder if bill clinton would have immediately reacted that way . Bill clinton patented the feeling your pain part. But for me, what are you doing about it . If it is sincere and contrite and know theres a big problem here. 4 Million People. Could be over 100 Million People, what are you going to do about it. There are so many exemptions for cronies of the white house. But no exemptions for the people being hurt by it. You have to wonder if that bill is now possibly advancing to delay the, individual mandate will actually take effect . Definitely will gain some ground without a doubt. All right, dagen. You have a market up 87. You have a president ial apology and a whole lot of economic data. Dagen weve got a lot more than that. We have an entrepreneur coming up. You dont want to miss him. He is in the tequila business. Halfway through the show, you never know how wild well get. Charles, thank you so much. See ya. Dagen strong jobs report stokes worries that the Federal Reserve might pull back soon irrather than later. But after the Government Shutdown, are these numbers you can trust . So sorry. The president apologizes to those losing their Current Health plans. We have one of americas greatest entrepreneurs who says it is time to scrap the whole thing and start all over. Summertime blockbuster pushed back to the holidays. Why disneys first Star Wars Film will take longer to make than expected. Connell and i are chronically sleep deprived and terribly irritable because of it. Harvard says lack of sleep is costing american businesses billions of bucks. We have someone here who will help all of us. All that and so much more coming up this hour of markets now