Transcripts For FBC Varney Company 20140218

Relentness. Netflix has an audience for house of cards, candy crush and twitter insiders have a chance to cash out. Theres news on google and spot aphi, too. They suggest a 500 gift from the taxpayer to every baby born in america, maybe i should expand my family. Watch out, Varney Company is about to to begin. In the new nework, we dont back down. We only know one direction up soere up early. Up late. Inking up gamechanging ideas, like this dozens of tax free zones ross new yorstate. Move here. Expand here. Or start a new business here. And pay no taxes for 10 years. With new jobs, new opportunities and a new tax free plan. Theres only o way for your business to go. Up. Find out if your business can qualify at startupny. Com which will cause me to miss the end of the game. The x1 entertainment operating system lets your watch live tv anywhere. Can i watch it in Butterfly Valley . Sure. Can i watch it in glimmering lake . Yep. Here, too. What about the dark castle . You call that defense . come on [ female announcer ] watch live tv anywhere. The x1 entertainment operating system, only from xfinity. Shes in charge of obamacare. Kathleen sebelius defying just about every news story in the past months. She told no way that obamacare is going to cost jobs. There is absolutely no evidence and every economist will tell you this, that there is any job loss related to the Affordable Care act. Parttime positions are actually down since 2010, not up. The number of fulltime workers continues to increase so i know that thats a popular myth that continues to be repeated, but it just is not accurate. Stuart oh, now we know. Thats the exact opposite of what weve been hearing here on Varney Company. These six companies, big names, all reported or told us directly they will be cutting employees due to the Health Care Law and thats just in the last couple months. Even the nonpartisan ceo disagrees with secretary sebelius and recent report found that obamacare causes a disincentive to work. And clearly secretary sebelius was trying to divert attention from obamacares problems. The evidence from employers and analysts alike is clear, jobs will be lost, many fulltimers will be shifted to parttime work against their wishes. What shes done is land herself on fantasy island. Time is money and here are the tech headlines. Day. Google glass may be losing its cool. Some users are walking away from it. Another early adopter said it gave him piercing headaches. Online streaming service, spotify deals specifically with ipos, thats a hint that the company is getting ready to go public. One banker said that spotify could be worth 8 billion. It only has 800 employees. Dont forget apple and tesla, the secret meeting reported over the weekend generated a lot of buzz. A company with 150 billion in cash and a Technology Innovator looked like attractive partners, dont they . First day of trading after the threeday weekend and it appears, well, the bleeding may have stopped and the dow will go up a little on the opening bell. The dow finished up two straight weeks. The bell is next. [ male annouer ] these days, a Small Business can save by sharing. Like carpools. Polly wants to know if we can pick her up. Yeah, we can make room. Yeah. [ male announcer ]. Office space. Yes, were loving this communal seating. Oh, its great. Yeah. [ male announcer ] the best thing to share . A data plan. New at t mobile share value plans for business. Our best value plans ever. For example, you can get 10 gigs of data to share. And 5 lines would be 175 a month. Plus you can add a line anyme for 15 a month. Sharings never been better r business sharings never been better r business if. Hey breathings hard. Know the feeling . Copd includeemphysema and chronic bronchitis. Spiriva is a oncedaily inhaled copd maintenance treatment that helps open obstructed airways for a full 24 hours. Spiriva helps me breathe easier. Spiriva handihaler tiotropium bromide inhalation powder does noteplace fastacting inhalers for sudn symptoms. Tell your doctor if yo have kidneprlems, glaucoma, trouble urinating, or an enlarged prostate. These may worsen with spiriva. Discuss all medicines you take, even 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. Spiriva helps me breathe better. Does breathing with copd weigh you down . Dont wait to ask your doctor about spiriva. You really love, what would youo . [ woman ] id be a writer. [an ] id be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] id be an architect. What if i told you someone could pay you and what if that person were you . When you think about it, isnt that what retirement should be, paying ourselves to do what we love . [ tires screech ] chewleys finds itself in a sticky situion today after recalling its new gum. [ male announcer ] stick it to the market before you get stuck. Get the most extensive charting wherever you are with the mobile trader app from Td Ameritrade now i come to you you welcomed Varney Company in your homes with open opens and were excited to introduce our new time. 11 a. M. Through to 1 p. M. Eastern. Its the same show, the same cast of characters, but you get a full two hours. Monday of next week we start. Here comes that opening bell and come right in from chicago, scott shellady. I have a feeling yet again this market just wants to go up, what do you say . Right now thats the path of least resistance. We had a friday before a long weekend and it was a snowy weekend so we didnt have a lot of folks in normally so the quiet markets levitate and the weak shorts push the market higher. Its going to continue today and help from central japan and theyre going to take the market, but were not going to see a ton of volume. Stuart weve got it, thank you, scott. Im looking for it and right now i see the dow opening with an uptrend. A 7 point gain that isnt much, but the dow is up at 16,162. And we have forest lab with cash and stock, and both are up big time. Huge gains, actually. Charles, youre starting early this morning. Charles yeah, yeah. Stuart welcome very much indeed. Hold on a second, i want to know two things. What does forest labs do, what do they make and what does actavis do . Theyre both big time pharmaceuticals. The more interesting things, two things, the consolidation in this industry, in part, they were losing the war against the pharmaceuticals for a long time and one thing i pointed out, at the beginning of the year, these acquiring companies, their shares are skyrocketing. You know, historically the buyer. Their stock goes up. Charles thats big time. Stuart thats historically not the pattern. Charles its not. I think that the street wants to see consolidation and i think what they want from Corporate America or the corporate world. We see better times ahead so were bulking up to meet demand and its been happening over and over and over again. So, i think overall, its a positive message from the market. Stuart i think the actavis, a company out of dublin, ireland, a generic company, generics mostly and doesnt forest labs have a constipation drug, called a laxative, i believe . Yeah, they have a laxative and quite a few things. Forest labs has been in the rumor mill for ten years. It has been in the rumor mill for ten years and carl icahn got involved. Its been a long time people vn about waiting for a deal like this to happen. Stuart attention netflix subscribers, you are bingeing on house of cards. One web ratings firm said 16 of netflix users have watched at least one episode of the show over the weekend. Thats apparently a huge number. Lauren, give me the stock. Are you a fan . I am a fan. I think that number is a little low. I bet you more people watched more episodes over the weekend, like the entire season, stuart. I asked this question yesterday on twitter and people say they did nothing, but watch house of cards season two. I havent started yet, but i loved season one. Netflix stock is looking at 433, but late last week about hit the high 439. Stuart 400 is a huge number. Do you watch house of cards . I will. The First Episode is a little slow and by the third one youre hooked and pull an allnighter. Stuart that will be the day. Got me with that one. Keith fitzgerald is with us joining us now from portland, oregon. What do you think of netflix, the stock, at the 433 a share, keith . You know, its pricey as all getout, but im a big fan here. I think theyre changing the model and content is big and i think we could actually be watching the berirth of another network. Stuart another network . Theyre the kings of streaming, but you think theyre taking it a leap further than that, theyre going further than that . I believe that because theyve rewired or rejiggered how people think about content and proven they can get into that model and now more viewers than h. B. O. And making the right moves. So i think that the ceo has got some things up his sleeve, hard the pun, that arent apparent to the rest of us. Stuart countless times weve seen the stock go straight up and can it go higher . Yes, it does. Now were up 430 a share. Twitter, today is the first time insiders, if they wish, can unload stock and take money off the table. Youve always been a bear on the twitter, you dont like it especially at 56 . No, i dont, im looking to short the thing again. This is basic supply and demand. Still got a user problem and monetary problem, but 25 million shares a day or 10 million coming online today and another 400 in may potentially. Its basic supply and demand. If nobody wants it only one direction the price is going to go. Stuart we shall see. I want to move on to king Digital Entertainment. Theyre the makers that have popular candy crush game. Theyre going to file for an ipo. Lets bring in charles for this one. I dont know, are they a onetrick pony . It remains to be seen. The numbers, pgenerated revenue last year and interesting thing, they say that 70 of the candy crush players on the the last level havent paid yet. So, more than even being a onetrick pony, cant get paid for the one trick. You know the old saying its a onetrick it pony, but a hell of a trick. Candy crush is a hell of trick, but the market wants to hear more. Stuart i heard a teenager the other day say its boring. Thats another story. Spotify theres hint and speculation they could be doing an ipo soon. Spotify streaming radio programming, theyve got a lot of competition, do you like it it . Too much competition, youre talking about a ceo trying to play the cards close to his vest, and linkedin, looking for 7 or 8 if you believe the whispers on the street. Its probably a traders trade and not an investors bet. Stuart thanks to Keith Fitzgerald from sunny portland, oregon. Is it raining today or sunny . What is it . Computer magic works great with the back drops, but, yeah, its a little rainy. Stuart youre shocking. Keith, thank you very much. Listen to the democrats trumpet the virtues of the surplus plan. Our next guest says the stimulus caused the recession. Former reagan Economic Advisor art laffer joins us from nashville where i was yesterday, by the way. What, the Stimulus Program caused it or prolonged it . Caused it, but you never called me, i didnt know you were in nashville, stuart. On the show, constipation medication and onetrick ponies and the surplus package all in one. Government spending is taxation and all jokes aside. Milton friedman made it clear, the government doesnt have a tooth fairy working at the governnent anymore. You can see if you look at it logically. Imagine we have farmer a and farmer b, the entire world and nothing else. If farmer b gets unemployment benefits, who do you think pays for it . Farmer a. Government spending, they cannot give resources away without taking them from the workers and producers and what that does, stuart, it gives the people that receive the surplus money an alternative way of getting income without working. And less income after tax for the people who produced the goods. Obviously, the reason we have the single worst recovery in u. S. History is because of the stimulus package not in spite of it. Stuart all right. And they just keep going on and on and on and its just nonsense, drivel. Stuart drivel, a it is drivel, drivel. Stuart i have to get you on the First Quarter of 2014, i think its going to be pretty bad because of this dreadful weather. I want you to it look at the Second Quarter. Are we all going to get after cabin fever are we going to run out there and start buying vigorously and push this economy to a solid rate of growth in the Second Quarter of this year . Are we . This economy is it not going to be pushed into rapid growth. You know, it takes good economic policies to create growth, stuart. If you tax people who work and you pay people who dont work, youre not going to get a lot of people working, unfortunately, and thats exactly what all of this is happening, the unrolling of the obamacare coming on. Its crazy, that wont create jobs, as Casey Mulligan made very clear and elmen dorf, this is going to cause people to leave the labor force not join the labor force. They talked about 2 1 2 million jobs, i think it might be more. And theres no recovery coming as long as the policies are in place. Lets hope they change. We saw really good news on the election in chattanooga on the United Auto Workers and other goose news in the economy in the election stuff. Theres no improvement coming as long as these policies are in place, period. Stuart i want you to stay tuned, please, art, because during the the rest of the program im going to detail how i was stuck in nashville because of a broken toilet seattle. Thats dramatic stuff. We have onetrick pony and drivel, and now a broken toilet seat. Why didnt you call me. Stuart art, i was in no mood to call anybody, okay . Thanks, art, see you again soon. Thank you. Stuart the dow is back up to a 3 point gain so im going to say we opened pretty flat with no clear trend it this tuesday morning. They changed the suits and the olympic u. S. Speed skaters still did not win medals. Lauren, where is underarmor now . Down more than 1 . A sky note for you, lululemon is up more than 2 . Lululemon with the sheer bottom pants had problems and underarmor has its own set of problems. The skaters didnt like that mach 39 skin suit because of the vent on the back and says it slows down their performance. Apparently when they switched suits they still lost and the stock is a loser right now. And the sad part about this, underarmor is a baltimore based company and want today show itself to the world at the sochi stuart thhnk you, lauren. E. Apple and tesla, theyre two innovative companies. They did hold secret talks and the speculation is that some kind of partnership between them . Health care or cars maybe . Well deal with it next. 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Its above 100 a barrel and actually reached 101. There you go. We always bring you the latest in geewhiz technology. This time geewhiz is called the outer net. Imagine satellites giving you free wifi around the world no matter where you are. Is that an accurate description, charles . Outer net . Yeah, they want to launch hundreds of low cost satellites and beam the internet. Everyone could get it. Governments couldnt interfere and itd be free and educate the world and free the world. Its just, its a pretty ambitious project to be free because theyve tried this commercially. Remember craig mccall and bill gates hooked up. Raise 9 billion dollars and have 840 satellites and going to change the world. That was 1994 and they ended up folding shot and the Satellite Phone didnt work out and global star. So this has been tried commercially with big names like big gates and craig mccall and did not work out. Im not sure how theyll do it as a venture. More power to them. Stuart apples head of acquisitions met with elon musk, speculation that a merge, some kind of Partnership Might be in the works. And tesla is back above 200 a share. Thats the chief marketing officer of punch tab. Shes got more on the apple tesla relationship, shall we say . What would apple get from tesla. Why would apple want to move into cars . Got any ideas . So if you look at the smart phone market,its start to go mature. Theres only so much available and apples really starting to lose market share so its time to look beyond just phones and tablets and look at other potential devices. Cars make sense. In infotainment is what its called. The next thing for auto. Theyre looking for something new and moving to medical devices as well. Theyre not just looking at wearables, but looking at how to use them innniche markets. Stuart im wondering if apple could go really way out there and think of elon musk as the guy who would eventually run apple like a steve jobs. I mean, theres no innovator in america at this moment quite like elon musk. Hes done spacex. In on the ground floor with pay pal, hes got tesla, you know, is it too far out there to suggest that maybe apple would look at that guy, elon musk, a the next steve jobs . So, hes one of the fathers of the ipod. Obviously, hes got history with apple. And i think in the wake of steve jobs, apple has still been looking for the innovative leadership and i dont think theyve found it yet. So, it doesnt surprise me that those conversations are being had, and i could definitely see that happening. Stuart youre out there, i believe, in san francisco. Looks like the golden gate bridge. Yes. Stuart in the middle of tech land. Basically. Tech company and i drive past tesla. Stuart do you think it makes sense for apple and tesla to get together in any way, shape or form . Partnership, yes. Purchasing the auto, i dont know about that. I think while diversification is good for any company, i think thats a little bit of a stretch, but youve got other tech giants like google moving into home automation and other markets that dont necessarily make the most sense. Partnership, absolutely. stuart apple has 150 billion in cash which is a lot of money and tesla could sure use Something Like that . Absolutely. Stuart angela, thanks indeed for joining us. Come again soon. Thank you. Stuart thanks. Democrat senator ron white is about to become the top guy on the Senate Finance committee, the top tax guy. Hes got a proposal, 500 put into an account or every single newborn baby in the United States of america. What do you think about that . [ male announcer ] nearly 7 million clients. How did edward j get so big . T me just put this away. Could you teach our kids that trick . [ male announcer ] by not acting that way. Its how edward jone makes sense of investing. Oh, watch out below, Waste Management posted a loss. Disappointing forecast, you know what that means . The stock is down 4 . Then we have google just buying up a company that makes soundbased password systems. The stock just hit a high of 12. 05. And a broken toilet seat and two hours spent in an airport. Im not happy. My take is all about that and it will be at 10 25 this morning. Oregon senator ron wyden perhaps giving every newborn 500 in the way of a savings account and his way of fighting poverty. Charles, what do you make of this . He says its the way to fight poverty. Give every newborn 500 and goes into an account in their name for housing, college, retirement. Charles everything from the left to fight poverty is about giving stuff away rather than the getting something from the recipients. In ten years, over 3,000 weeks, in 20 years wont cover college, by the way, 10 is being generous. Stuart where are they going to get 10 . Stuart we dont know where the money is going to go, the 500 invested in what, stocks . I dont think so. Charles it wont be stocks, if they werent good enough for Social Security main. Stuart where are you going to put it. Charles in treasuries, 8 and then but the point is that, its so disinagainous and i can see some poor mother sitting around thinking, well, my kids are cover. Theres a fund out there and theyve got 500, its going to cover college. It wont. We need to be pressing this country about getting you want to change poverty, help these kids get smarter, reignite their ingenuity. Stuart but its a vote getter. Im going to give you 500 for every baby born in america, vote for me and vote for my party. Charles it works, but it shouldnt work. Stuart i agree with you. Much more on obamacare in the next hour. Obama says signing up is just part of growing up. One of our millennials is mad and steamed up about that and they will join us next. And plus the administration distracting us with Climate Change while the economy falters. Democrats lobbied the news media to pay more attention to Climate Change. Our media watchdog is in the next hour of Varney Company. So ally bank has a raise your rate cd that wothats correct. A rate. Cause im really nervous about getting trapped. Whys that . Uh, mark . Go get help i have my reasons. Look, you dont have to feel trapped with our raise your rate cd. If our rate on this cd goes up, yours can too. Oh that sounds nice. Dont feel trapped with the ally raise your rate cd. Ally bank. Your money needs an ally. Stuart inventory back and ready to roll. Listen to this. Signing up for obamacare is just part of growing up, so the president tells. And john kerry claims a weapons of mass destruction and the media laps it up. And Media Privacy and on the internet he never had it. Decathlon medallist on the tj oshie, the humble guy wins big. And a broken toilet seat, and i promise, qe3, earnings per share, will not be mentioned on this program. Techs king and we start this hour with one of the biggest names, amazon, look at the stock 350 a share. Its down 12 this year. And peaked above 400 and down since then. Charles, has amazon peaked . Its got problems, theyve missed the street. Wall street is looking for, 4. 23. Months ago they were looking over 5. Thats huge. Ubs upgraded in october from neutral it to buy and downgraded it last week back to neutral. Everyones turning against them. Maybe this free ride just growing the top line without anything on the bottom line, maybe thats coming to an end. Stuart youre saying, maybe, yeah, they peaked at 400 back to it a new normal of 350 or whatever. Charles the bottom liie theyre going to have to start showing earnings. Stuart ooh, a novel idea. Another technology play for you. Gt advanced. Now, they make that sapphire glass for the screens for the the iphones, or phones and tablets generally. This, by the way, is a Charles Payne pick and its up today a little bit at least. Its certainly up in the last few days, few months, i should say. Charles, do you still like it. Charles still love it. September 13th had it on the show, 6. 57. Almost a double. And not only the sapphire glass and its stronger than the gorilla glass, rather, its sensitive to the touch. Theres been scuttlebutt for a month, apple gave them a bunch of money and theyre working on the glass being a solar panel to power the phone. Nothings come of it, but apple ingenuity, that would be something significant. Stuart a man like you would not sell it if it doubles, a man like you woulddhold onto. Charles were holding this one. Sometimes i sell them, but this one were going to ride it out. Stuart Lauren Simonetti is with us on the new york stock exchange. A big farmer deal. A stock and cash trade. Whats the story here . Well, what the story is, actavis, that stock is at a new high of 6 . A generic drug, a lot of drugs in the pipeline. And that stock up almost 30 . At forest labs. The reason theyre merging, they want to create a Larger Organization to negotiate better Prescription Drug prices. Youve got these and the other drug makers, particularly the generic ones are surging today. You probably know forest for an antidepressant drug, stuart. Stuart okay. And a constipation drug were you talking about earlier and it comes from forest labs. Stuart its a laxative. I mean, a constipation drug. You dont want anything to encourage constipation. And the producer just screamed to me, yes, it streets ibs. Thats what she says. Screaming on the floor of the new york stock exchange, ibs, irritable bowel syndrome. Stuart im leaving. Im leaving. Stuart what a hit. That was great. Charles great. Stuart im moving onto obamacare, president obama telling a group of millennials that signing up is part of growing up, listen to the interview with charles barkley. Wed like people to sign up since theyre healthier their premiums are generally going to be fairly cheap. They can find good options for less than their cable bill, less than the cell phone bill and its part of growing up. Stuart did you hear that . Generally fairly cheap, just part of growing up. And here is a millennial herself, political prospect editor. And you heard what the president had to say. Whats your take . Stuart, its pretty incredible. I didnt realize that growing up meant fiscal irresponsibility, thats what obamacare is synonymous with. An average male in arkansas pays 181 for a premium. Maybe obama hasnt paid a cable bill for a while. Thats far higher than my cable bill and electric bill. Obamacare is fiscal irresponsibility and thing that millennials would be unwise to follow the path. I think the only thing to opt out and pay the penalty. Stuart is there any evidence that you, the millennials are turning against the president because of obamacare . Yeah, stuart, the harvard study said if the president was on the ballots, 54 pre would v to recall him. Thats astonishing. This is obamacare and the nsa are the turning point for millennials, theyre rejecting the president. Stuart hes making a push for a heavy duty Advertising Campaign and remember pajama boy, and now charles barkley. Its an advertising pushment are you telling me its flatout not working . Its not going to work and you know, the president gimmicky Advertising Campaigns. We saw pajama boy. Theyre calling it broinsurance instead of insurance. We want a fiscally responsible govvrnment, and he thinks he can throw out broinsurance. Stuart hes got to have this. I go back to this, youre telling me theyre not going to sign up. Thats what youre telling me . No, no, theyre not going to sign up anddwe saw the daily caller came out with a story only 670,000 millennials signed um. Theyre not puppets he can manipulate however he will. Millennials are smart and were rejecting that and well continue to. Stuart when i was that age, in myy20s and 30s. In my 20s, i dont think i had insurance. In fact im sure i had insurance. I didnt feel i needed it i felt im not going to get sick, nothings going to happen to me. I think thats the way you people you people, the way you feel. You dont want to have to pay out money for an insurance product you dont want. Thats right. And in many respects, stuart, the choice you made and many millennials make is a fiscally smart plans. Most millennials arent going to get sick. Catastrophic insurance on the open market is better than the premiums in the obamacare exchanges. And most millennials are not going to get sick and thats why they offer the catastrophic coverage. Stuart you tell us every time. Thank you, see us soon. Thank you, stuart. Stuart the uaws big loss at that vw plant in tennessee is played very differently in the mainstream liberal media. Theyre playing the race card. Listen to thfrjis. The opposition portray as a northern invasion, a refighting of the civil war, apparently there are not a lot of black employees in that particular plant so that kind of waving of the Confederate Flag was an effective strategy. That would explain also the sign united obama workers. Stuart they cant keep i mean, that guy is a jerk, both of them. That was asinine what they were just saying, it really is. Stuart didnt you raise civil rights, civil no. Stuart in writing about it . I wrote about it its on the my website. I talked about the battle of chickmawa. The last time the confederate in tennessee. Its a fun way of talking about unions going down there and the union, of course, is back in the civil war. But on a more important point, the nonstop selling of race hatred and fear, i think, again, i think theres nothing more despicable going on in this country and its so irresponsible for someone like that to significant that every white person in tennessee is a potential member of the ku klux klan, that blacks were shut out of this, that obama and it takes away from every individual, you know, the idea of judging individuals in in country as individuals. Stuart and potentially divisive. Charles potentially divisive. And sold into the black community there are certain good white people and certain bad white peoples and you say the good ones are in new york or california and the bad ones in the midwest. And the president was propelled to the white house because of the iowa caucus. He would have never made it to the white house. Tht the same play book as they circle the sink and the drain. Stuart im with you on thhs one, charles, i am. And lets go back to stocks, and charles is talking about an anticable play called uchthe network. Charles we talked about the outer net earlier. The world is needs to wire up for the internet. And with fiber optic cables, theyre going to use satellites on the roofs in the air and cables, towers, things like this. These guys make the nuts and bolts of these things. Go to the ebz, a great video that says the revolution has begun. The company is firing on all cylinders. Last time they reported, they had record revenues up, operating 135 . And operating the company well. Theyre in north america, south america, europe, middle east, asia pacific. Around the world. I think this company is going higher. A great chart. Charles its the third time weve talked about it. Stuart thanks, charles. Here is proof of what a fracking boom can do for the economy in the country. The u. S. City with highest rent for a 700 square foot apartment. Where do you think . Wi willston, north dakota, it is more than the places in new york city. This screams at you, why cant new york state or california frack for what is underneath the ground. Charles the lowest Unemployment Rate in the country and people are flocking there by the thousands and everyone is making a fortune, a fortune. You know the down side of it, ive seen negative price in the New York Times and other places look how you had to live. Guess what . You might have to live in a trailer or a 700 square foot apartment for two, three, four years as you bank more money than youve dreamed of and set your family straight and turn upper life around. And that might be the down side, but ive lived in north dakota and i remember the old north dakota was, you know, just mostly a few sun Flower Fields and thats it. I dont know whats up with andrew cuomo, he seems to be a smart democrat in many areas and hes rebuffing a lot of de blasios hairbrained schemes, but blevel actors can influence the governor to hold back the billions in tax revenues and hundreds much thousands of dollars in jobs blows me away. Stuart im with you, charles. Yet again, were like this. Charles thats what happens when you go away and i sit in your chair and absorb that stuart power and it fades away after a few days. [laughter] when we mention john kerry talking about Climate Change weapons of mass destruction. Were 300 comments already on our Facebook Page and we havent start today discuss what john kerry said. And the Mainstream Media picking up on what secretary kerry said and running with it. Weve got more examples of clear bias in networks in just moment. And remember, were moving monday. A whole new time slot for Varney Company. Were going from 11 00 to 1 00 p. M. Eastern. Were expanding to two full hours and same, fresh perspective. Hey, stuart, congratulations from all of us on Fox News Sunday for your new time slot on fox business network, good luck and well look for Varney Company next week starting at 11 a. M. Wherever you go, whatever you do i will be right here waiting for you in the new new york, we dont back down. We only know one direction up so were up early. Up late. Thinng up gamechanging idea like this dozens of tax free zones across new york state. Move here. Expand here. Or start a new business here. And pay no taxes for 10 years. With new jobs, new opportunities and a new tax freelan. Theres only one way for your business to go. Up. Find out if your business can qualify at startupny. Com sometimes they just drop in. 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 advanc. Kathleen sebelius defined just about every news story we had about obamacares effect on jobs. Yesterday she told reporters theres no way the president s Health Care Law is going to produce jobs. Theres no evidence and every economist will tell you this that there is any job loss related to the Affordable Care act, parttime positions are actually down since 2010, not up. The number of fulltime workers continues to increase so i know that thats a popular myth that continues to be repeated, but it it just is not accurate. Stuart a myth. When in recent months we brought you at least six Major Companies on the program who say the precise opposite and even the cbo disagrees with secretary sebelius. Elizabeth macdonald and sandra smith are here. Sandra, where is she getting her facts from . Every economist will tell you . And its irresponsible for her to call it a myth and throw it out there that every economist is saying this. When you look at the Congressional Budget Office report, which is a nonpartisan, theyre saying that this is going to cause 2 million fewer jobs in 2017 and that number is going to rise to 2 1 2 million jobs over the next decade or so. So, for her to put this off as a and i think, liz, we were talking about in at the comerica, put this off, no, people may choose to leave their jobs and ignore the fact that thats going to decrease employment in this country is very irresponsible. Yeah, come on, liz. The fact remains, the employer mandate delayed for a year see we will not know about the true impact of obamacare on jobs, when the employer mandate kicks in. And you see companies reacting and busting down fulltime workers to parttime status. Moving workers to the exchanges. So, were now 700,000 fewer fulltime jobs since pre recession peak according to the federal reserve. So for the secretary of hhs to make the statements unequivocally is kind of interesting. Stuart well, it just flies in the face of reality, doesnt it . How about the owner of multiple applebees franchises we had on this program last week who said that hes had to talk about the harsh realties of obamacare to his employees who may lose their jobs as a result of this. So we have firsthand evidence that people will loose their jobs. If Health Reform was so great, why are there 28 delays to date and counting. Stuart the Obama Administration is sounding the alarm bells on Climate Change. Here is secretary of state john kerry. In a sense Climate Change can now be considered another weapon of weapons of mass destruction. And perhaps the most fearsome weapon of mass destruction. Stuart why are they saying this now . Im calling it a distraction from the real problems. Here is bret bozell, i think youve got statistical proof that the networks have taken this and run with it as a distraction division. Evice. Theyre going after it because theyre doing the bidding of a number of democratic liberal senators who demand that they do this and its amazing the way that they jumped, the networks jumped. They gave the argument was that in three years theyd only given 44 minutes of time to Global Warming, i dont believe that, but thats what it was. And this sunday alone, they devoted 46 minutes of time to Global Warming, never mind that 49 out of 50 states are under snow right now. But they deliver 46 minutes to Global Warming and the signature is john kerry, that what john kerry said is a remarkable statement. Just imagine if you are china, if youre russia, korea, if youre iran and the secretary of state of the United States says the biggest threat is Global Warming . When youve got icbms, when youve got terrorism, and mustard gas is everywhere and theyre saying Global Warming . Thats a huge story. The media should have done a story on how outrageous john kerry did that, instead they gave him air time with no criticism. Stuart can i go back to what you said at the beginning. I was not aware of liberal senators suggesting to the networks that they make a big deal out of Global Warming Climate Change, did they do that . When did they do it . Absolutely. A letter was sent to the heads of the networks saying they werent doing a good enough job promoting Global Warming and now just imagine, stuart varney, if the Republican Caucus said youre not doing enough to promote right to life or tax cuts or covering obamacare or irs scandal. Can you imagine the networks jumping up and down and saying we better do that. Thats exactly what they did on sunday. Stuart how much coverage did they give to the president when he was in california discussing the drought in california, promptly went out and played golf, i think, on three consecutive days on golf courses that drink up a great deal of water. Did the Networks Cover that one . They all covered his speech where he extrolled the virtue of shared sacrifice with this drought. Not one of them covered the fact that he then pulled the greatest Maria Antoinette move, he went to golfing to the resorts that suck up a million gallons a day. If george bush had done that and given a speech on shared sacrifice and then went to a resort all weekend, what do you think the press would have done . I thought for a while maybe the establishment media was beginning to see the light, especially on obamacare, and that they would become critics of the presidency and the administration over the subject of obamacare. I thought that would happen. I think you and i had a conversation to that effect several months ago. Was i right . Did they turn and see the light at all . No, what they did, stuart, look, they were they did cover the fact that he lied to the american people, which was the signature to get this thing passed by saying you could keep your insurance if you wanted it. Had he not said that, it it never would have passed. Had he said youre going to lose your insurance, it never would have passed. The media covered it and then obamacare continues to be a train recognizance wreck. Theyre not covering that. The same way theyre he not covering the irs scandal, not covering benz, not covering fast and furious. And that which goes against t barack obama. Stuart but you will, thank you. Now, over the weekend i had to take a flight. It was delayed. Now, it was not the weather, it was a broken toilet seat that did it. My take on that is next. 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[ male announcer ] while identy theft cant be completely opped, no one protects you better than lifelock. And lifelock stands behind their protection with t power of their million service guarantee. You have so much to protect and nothing to lose when you call lifelock right now and try 60 days of Identity Theft otection risk free. 60 days risk free. Use promo code onguard. Order now and get this document shredder to keep sensitive documents out of the wrong hands. A 29 value free dory about rules and lawyers. Heres my take on a broken toilet seat. I start at the beginning. I arrive at the airport yesterday 90 minutes before takeoff. I go straight to the gate. At boarding time there is an announcement. We have a maintenance delay. A few moments later is another announcement. The plain has a bathroom tissue. After further delay there is some clarification, theres only one bathroom on the plane and the toilet seat is broken, cant take off with a broken toilet seat. They tried to take a toilet seat from another plane but for some unexplained reason that doesnt work. After a two hour delay they bring over a different plane. We take off, the passengers are royally annoyed and many have missed their connections because of a toilet seat. Here is where the bureaucrats come in. They wrote the rules for a toilet seat. Airlines and not allowed to have taped together a broken seat and not allowed to take off without a seat at all. No discretion allowed. Passengers cant vote to take off without a seat and the airline cannot get around rules. That is bureaucracy. Here are the lawyers, where they come in. You know somebody would have sued for Emotional Distress if they found a toilet seat that didnt quite measure. The horrors my client will be harmed for life. You can imagine a Public Relations disaster, those with airlines didnt have a functioning whether it. That is how it is these days. The bureaucrats make inflexible rules. The lawyers make the money and we the people have to suffer. Has one of my fellow passengers put it, this is really crappy. Pardon the pun. My dad has aor afib. Brillation, he has the most common kind. Its t caused by a heart valve problem. Dad, it says your afib puts you at 5 times greater risk oa stroke. Thats why i take my warfin every day. But it looks like maybe we should ask your doctor about pradaxa. In a clinical trial, pradaxa® Dabigatran Etexilate mesylate . Was proven superior to warfarin at reducing the risk ostroke. And unlike warrin, with no regular blood tests or dietary restrictions. And unlike warrin, with no regular blood tests hey thanks for calling msure. Tor. Pradaxa is not for people with artificial heart valves. Dont stop taking pradaxa without talk stopping increases your risof stroke. Ask your doctor if you need to stop pradaxa before surgery or a medical or dental procedure. Pradaxa can cause serious, sometimes fatal, bleeding. Dont take pradaxa if you have abnormal bleeding or have had a heart valve replaced. Seek immediate medical care for expected signs of bleeding, like usual bruising. Pradaxa y increase your bleeding risk if youre 75 or older, have a bleeding condition or stomach ulcer, take aspirin, nsaids, or blood thinners. Or if you hav kidney problems, especially if you take certain medicines. Tell your doctors about all medicines you take. Pradaxa side effects clude indigestion, stomach pain, upset, or burning. If you or someone you love has afib not caused by a heart valve problem. Ask your doctor about reducing the risk of stroke with pradaxa. Stuart here is the name you definitely know, the stock is down, google hit another high. It keeps going up. That is the high, 1209 as of right now. The Census Bureau says divorce is on the rise and that points to an improving economy. Liz macdonald will explain. Liz moodys analytics is the word, the economy normalizes people feel freer to leave their spouses, that is the word from economists at moodys analytics. When you look at the trend what happened was it had a 4 year low in 2009, the divorce rate doubled. It doubled from 19401981 and then the depression hit, the recession hit and hit a 40 year low in 2009 so now the economy stabilizes, people feel they can leave their spouses. The divorce rate is going up. Stuart the better the economy the more free we are to leave those with whom we know longer wish to live. Connell look at it that way but it is bearing out. Stuart thank you for that contribution. Liz may be the birth rate will go up too, who knows . Stuart no comment on that but every newborn baby in america 500 as senator ron white wishes to do may be youngsters will be encouraged to have more children but i digress. That is outrageous of me. Moving on technology, your privacy no longer exists because in many respects you gave it away. Four more examples. First a new technology that can target specific tv ads to you and your family, number one. Google admits that it social media circus was basically just a tool, a front to be able to trash you and what you are doing and target you. And engage our net, many satellites way up there providing worldwide free wifi which presumably somebody could track. Pandora, political ads, when you are listening one. Judge Andrew Napolitano is here. Judge napolitano it keeps coming. You dont have any privacy. You gave that up and theres no expectation of privacy on the internet. Judge napolitano difficult to argue that there is an expectation of privacy but again this is not the government. You can tell google and pandora to take a hike. You can miss out on their products and probably live without their product. Living with google probably would be difficult for some of us. I would think the free market would produce another google which would be respectful of this. Stuart you only have a problem when the government invade our privacy, when private enterprise judge napolitano i have a problem and the law has a problem with the invasion of privacy by private entities when they dont tell us. The government may not do it whether it tells us or not. Director clapper said we should have told you, then we wouldnt have the ed snowden problem. Another story for another time. They are still violating the fourth amendment. In the case of a business if they tell you dear mr. And mrs. Bonnie, you have signed up for x y and z we want you to know these are bilateral or you are using telling us about yourself and we may sell that information to providers. If you no they use it anyway you are consenting to it. But if you do not have permission and they do it anyway thing you have a cause of action. Could you margin such a thing . Stuart i am not binding on that one. I want to talk about pandora. Pandora. It judge napolitano classical music. Stuart they track the music that you like and figure because you like that kind of music you must have certain political views and judge napolitano predict the way you vote . Stuart they send political appetizing to you which you think is in line with which they think is in line with your political views we did you think you are a liberal you get the girl ads. If they think you are a conservative i dont know how they figure that out. Judge napolitano advertisers seem defrauded because they are preaching to the choir. Stuart maybe the advertiser wants that. Doesnt it divide us so that liberals only get liberal messages and conservatives only get judge napolitano we reinforced with preconceived ideas anyway. I guess you could make that argument but if pandora does this without telling us it is violating our privacy. If it does it by telling us we have consented. If it doesnt and we dont consent if it tells us and we dont consent and it does it and we we have a cause of action. Stuart what you are setting up judge napolitano these are abstruse causes of action, never heard of these losses reviling. Stuart when your recourse is endless fine print whenever i sign up. No one is going to read that. Judge napolitano we need somebody like peter field, a brilliant person with strong libertarian instincts to say heck with this, i will create my own pandora and my own google and we are not going to track you. He wont make as much money as the trackers do, but people dont want to be tracked use his service. People will vote with their pocket books. Stuart 1. 2 billion people who signed up for facebook dont care. How many people are going to finish with facebook . Judge napolitano if they dont care they are in no position to complain when while listening to whatever they want to listen to the only here adds a democrats. Liz i havent heard that. Stuart what is on your play list . Judge napolitano what do you mean play list . Judge napolitano a little rock on and off. Stuart a modern music . Judge napolitano what is modern music . Stuart the beatles. Judge napolitano i like the beatles but i wouldnt listen to them. Stuart can you name it four of them . Judge napolitano ringo, john, george, sir paul. Liz stewart is younger than all of them. Stuart i would say yes, i am. Liz and younger than the rolling stones. Stuart you are off the hook. The play list tomorrow. Olympic hockey player t. J. Oshi gaining international stardom, a public. Could it be that timidly sells big . We talk to an olympic medalist at the break. The American Team is frill to win in the russian team is missing. We come from 2 different types of shooter. [ indistinct shouting ] [ male announcer ] time and sales data. Sptsecond stats. [ indistinct shouting ] its so close to the options floor. [ indistincthouting, bell dinging ]. Youll bust your brain box. All othinkorsm from Td Ameritrade. Stuart the head of new Jersey Transit reportedly could be out of a job as a result of the post superbowl delays. Thousands of fans stranded after the big game. Looks like he will take the fall. King Digital Entertainment make the popular game can be crushed. An ipo, it is a multibillion dollar valuation. Big pharma deal, activists, 25 billion cash and stock, both companies up big this morning, that is unusual. Lions gate films cashing in on the success of the movie under games franchise, revenue up big in the third quarter, stock is not doing that much. What do we have next . Olympic medalist dave johnson loves t. J. Oshi. He will tell us can humble guy make bucks . [ female announcer ] its timfor the annual shareholders meeting. Therell be the usual presentations on research. And development. Some new members of the team will be introduced. The chairman emeritus will distribute his usual wisdom. And you . Well, youre the chief life officer. You just need the right professional to help you take charge. Stuart to lauren, tesla, new high, delta have anything to do with the torch with apple . A couple things going on with tesla. And after the closing bell, some sort of partnership, in the works. 215, as stuart 200 plus. Both a good and bad side of it. I will bring in something competing in the games to get his take on everything. Former u. S. Olympian dave johnson joins me now. Dave, is a decathlon medal winner, got a bronze in 1992 summer games. And michael wrecked on that . 1992 summer games, i competed in 88 as well. Stuart quite something. The impression i get from looking at the sochi olympics from the outside is things are going reasonably well. We dont have all the problems that occupy so much media time early on, what is your take. I was pretty worried about it, didnt look like things are ready to go and the weather was an issue. They put it together pretty well and that is what i am looking to do eventually, to get involved with the management of olympics and the environmental stuff and they have done a great job. Stuart got to ask about t. J. Oshi. He won a hockey game with the russians, an overnight star. He is a very humble guy. He comes across with great humility, he thinks the troops are the heros, not him. I put it to you, you know a thing about this, that sells. Humility is good, if it is big, he will make a fortune. I think so. We need some kids like that out there, where they have a history, background within themselves, really appreciates what their country has done for them and how it is going to make a difference to them regardless of the olympic medal they want and if they can they want to make a difference with what they have. I am looking forward to see what he does. Stuart what you think of american speed skaters who some of them criticized the underarm suits that they were wearing . Is that blaming a workman blaming the tools . It was interesting. I know dan jansen pretty well. His comments, he knows what is going on with that and the feeling is maybe theres a possibility there is some wind drag within those suits but it comes down to physically you got to step in and whatever is happening, the snow, whenever it is, you got to give all you have got for the Olympic Games. You have one shot and you can overcome anything. My thought is that suits didnt cause as much problems as we saw with the speed skating. Stuart you are teaming up with a royal bank of canada. They have a major fundraiser for kids with cancer. Give me 30 seconds of what you are doing. This is good stuff. I want to make time for you here. If you remember dan and dave, two humble athletes were thrown into the public eye for the 92 Olympic Games but dan and dave are back, competing against each other and doing the rbc decathlon in wall street ended is going to be amazing. It is the fundraiser for Cancer Research in the area, a pediatric cancer is the focus, raising a lot of money, last year raised 1 million over the last three years and raise 3 million. Dan and dave are part of what is going on and compete against each other again. I get to be in the clydesdale 50 and over but we are going to run 800 meters, 400 meters, 20 odd huddle, doing some pull ups, bench press, and it is going to be fun. I can do it but it looks different. I am at that level where i can say i have been there, i am going to raise some money and make a difference in the communities around wall street. Stuart great guy, thanks for joining us. Former treasury secretary and obama secretary Larry Summers says we are at risk of becoming a downtown abbey economy, the rich get richer and the poor get poorer. We will discuss that in a momeet. [ male announcer ] youre watching one of thbiggest Financial Services cpanies in the country at work. Hey. Thanks for coming over. Hey. [ male annouer ] how did it come to be . Yours . Ah. Not anymore. Its a very short story. Come on in. [ male announcer ] by meeting you more than halfway. Its how edward jones makesense of investing. Stuart 9 medved fan of downtown abbey, but Larry Summers, economic adviser to president downtown abbey economy where the top 1 of earners see a sharp increase in income while family incomes do not go up. What is this, rich getting richer, poor getting poorer, discuss that. Liz economist like Larry Summers routinely ignore the wealth transfer in the form of Social Security, medicare and medicaid to the lower bracket. That is missing in the income inequality argument which to me is a complete distraction. The Administration Knows its politics are not creating jobs. Larry summers was part of that administration. Now lets shift the narrative to income inequality. Missing in this argument is 401 k s and income tax returns are missing, lot of pot holes in this argument. What hes talking about is raising the estate taxes on the wealthy like downtown abbey in order to redistribute the money to create income growth. Larry summers was trying to be popular by mentioning a show that many people know and follow but it is not hitting home with them. They saw servants working in a house for rich people that were treated and lived very well. I dont think his argument will be effective because these 7 had great relationships with their employers. In a show where the employers, the rich family were not doing well, when the economy did go down people were laid off. They respected their employers and appreciated where they were employees move on if they wanted to. Stuart Larry Summers would jump on the class warfare bandwagon. I am not that surprised that that is what he has done. Liz the estate tax hit 40 of the states. That was on the sliding scale. Does he want to hit Small Businesses picketed by the estate tax . Stuart he wants to use clever planning. Your take on a broken Airline Pilots seat is next and remember, varney and company is moving next week from 11 00 to 1 00. You are so much easing 11 00 a. M. To 1 00 a. M. you get to sleep in, eliminations to 1 00, i am so jealous congratulations thats right, no hidd fees. Its just that im worried about, you know, hidden thgs. Ok, whys that . Well uhhh. Surprise um. Well, its true. At ally there are no hidden fees. Not one. Thats nice. No hidden fees, no worries. Ally bank. Your money needs an ally. voseeker of the sublime. Ro. You caseparate runway diculousness. From fashionhat flies f the shelves. And you. Rent from national. Because only natiol lets you choose any car in the aisle. And. And only natiol isanked highest in car rental customer sisfaction by j. D. Power. natalie ooooh, i likyour style. vo so do we, business pro. So do we. Stuart a few minutes ago i told you about my flight being delayed for a couple hours because of a broken toilet seat. Here is your response to that. I had a seat that wouldnt stay in its upright position. I reached my destination, had been on a flight before that was delayed for a changeable lightbulb, seriously. Kerri says we the people are the victims of bureaucrats and lawyers. You are right. My time is up but it is now yours. Connell tougher new fuel standards for american trucks. President obama mandating a change by going around congress so we will start this morning. We have markets, stocks near breakeven for a big year, 2014, this guy coming up to tell us how she is planning the next move in the markets, a new study out finds an Alarming Number of americans have more Credit Card Debt than emergency savings. We will talk about that. The Company Behind candy crutch hopes its stock will be as indicative of the game. That and more this hour on markets now. Dagen bring it. Broken toilet seat, varneys adventures in the sky or not. Is unsafe. Connell i suppose it would be. I love them. Dagen dont hurt yourself lying on a broken seat. Connell you are right about that. Dagen i will hold that song to check on these markets. Sox coming up on their best week of the year hitting some highs, Lauren Simonetti