Transcripts For FBC Varney Company 20140618

But holding at the 36 level. She is on the hill for another round of congressional hearings on those recalls. Just listen to what she said earlier this morning. Those of us who dedicated airlines to this company, it is enormously painful to have our shortcomings laid out so vividly. There is no way to minimize the seriousness of what mr. Lucas and his investigators uncovered. Stuart she said that before, laying it on thick this morning. Bill harlow is with us, good morning, bill. Mary baras images import to her, the company and america and it is on the line. What is your judgment of performance. So far, i think that she is doing pretty well. There is so much information coming out. More recalls, it seems like every day. I think she is doing reasonably well. Stuart she has answers today. Last time, she did not have answers to the question. Why the delay in compensating victims. To some degree, she is ahead of the game. She, after the last hearing, said we are just starting and investigation. It will take us a little while to figure out the information. That is what she is doing. Stuart it does look like so far, so good. We will keep in touch with that and see what develops later in the morning. Lets go to the markets. Hierarchies weighing on stocks. We have the fed telling us how the economy is going to perform. That will be at 2 00 oclock eastern. The s p 500 is down two points today. Just a fraction. Gained about 20 with the iraq scare. After the 10 year treasury, the yield there is at 2. 63 . Now, just look, please, at fedex. Very strong profits. Adobe also in with a very similar report. It is of a percent. Disappointing sales. Down 8 . I will call amazons new phone, which will be introduced today, a portable cash machine for its website. The announcement comes at 1 30 p. M. I think he will do if personally. The smart phone that they have been developing for years, it will be available through at t, it is going through a very crowded market. I do not ever dare go against our producers. He is pretty smart about this stuff. 3d technology is involved in this. That is part of it as well. You do not need special glasses in order to cvs. Stuart thank heavens for that. Charles i am not buying it. Stuart lets get to iraq. Overhangs just about everything on the market these days. We have exxon. It is evacuating its employees from the country. They are going to build a pipeline. It is going west. I am not surprised. If we duly and dolly for four or five years, you have to expect that canadians to sell it somewhere. Right. Still waiting. You have to look at it from canadas point of view. They will really boost their economies. They are going to china over here. They have so much demand over this stuff. Why not ship the stuff over there. Stuart i hear that canada, the government and the people are trying to upset president obama. I think that this is definitely ruffled some feathers. We are not taking it. Stuart if canada starts to build that pipeline, they know we will not build keystone down here. They have to be thinking that. They are doing what a smart government should do. Stuart are you saying that america does not have a smart government . It is the beginning to send gas prices higher. 3. 67. It is 4 in california. Veronica, aaa says gas prices, because of iraq, will go up. Making the market to be nervous. Right now we are seeing issues. All of the key oil reserves are in the south. Then we will really see some pressure on gas prices. Stuart aaa says in june the price, sometimes, often goes down. I was not aware of that. It is an interesting phenomenon. Stuart they are saying that it probably will not happen this june. They have fresh polls out this morning. 41 say that they approve of the overall job. Only 37 say the president is doing a good job on that. The crisis in iraq. You have to be surprise, surely, when you see the president golfing and attending fundraisers. Does he care about his image . Sure he does. I think all politicians care about their image. We picture our client that 15 seconds. The leader needs to lead. You see action. You see very little coming out of the white house. It really is not a good time for the president to be seen doing a lot of fundraisers. Stuart so far this morning, you said that mary performance it certainly needs some work. Stuart thank you very much, indeed. Iraq earns. Administration, lack of leadership. Setting up iran as the winner. First, i hate to say it, i did tell you. Did the guy . Team usas victory over ghana. A big winner in the tv ratings. Record for espn. Team usa takes on portugal on sunday. 6 00 p. M. Eastern. 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Virtually unchanged. Down 1. That is it. Look at that. That is interesting. It has backed off 0. 33 a barrel. Here we go. It deals with the nfl. The u. S. Patent office has canceled the redskins trademark. Come on in, rich and said. Does this mean that the Patent Office is trying to pressure the redskins into changing their name . Weakened by redskin gear just like we always planned. They did this back about 10 years ago. The redskins fought this in court and one. This adds to the political pressure. Senator reed and about 50 other senators. Asking them to change their names. The pressure continues. Legal challenges will continue for the redskins here. They do not have to change their names. If they were to sue someone, they would not have any standing because they would not have a trademark. Stuart it is a politicized do you agree or disagree . I agree that they are taking this decision and it will be political from here on out. Stuart to iraq. President obama says he is ruling out the strikes because of a lack of incredible intelligence. He ran broadening its reach. Iran will defend iraqs holy sides. I say the upshot of all of this is iran is emerging as the winner in iraq. I think that decision was made back in december 2011. You are probably correct. They clearly have become the dominant influence in iraqs world today. How we try to repel. Stuart this is a financial program. If i am right, if we are right and iran is playing a dominant role in the iraqi politics, then, presumably, at some point, they can control iraqs oil and use it as a weapon in negotiations. Am i too far out with that idea . That means you should improve the pipeline immediately and deregulate all of the restrictions we have on future fracturing. Move out and become Energy Independent in three years. We can do that. Stuart general, you are so right. I brought everyone in the news a few moments ago. Canada is going to buy the pipeline. The idea that we will build a pipeline, i think that is out the window. How are the people that fought in the war feeling right now . They are miserable. All the sacrifices this nation made. They are really disappointed. The fact is, airpower could change the situation. It may change it to put iran even in a better situation. It is a close call. I think we have to look at it very clearly. The ambassadors have been talking about iran. If this helps, if our airstrikes become iranian airports, that we are not doing the right thing. They want our help more than we do. There is a convoy of American Military vehicles. They are on their way back to syria. We could. They are an easy target. They are being taken over there. It does not help iran. So, we could do that. The interdiction of both the border areas, the whole highway down to baghdad, that could be done without Ground Forces and ground air control. Again, when you do that, and you solve that problem, what have you done . The saudis and qataris and other sunni nations are behind this iis news. Stuart general, always a pleasure. Thank you very much, sir. Thank you, stuart. Stuart elon musk is warning society about artificial intelligence. Robots. He says that is a real possibilities. We will bring that story next. When folks think about what they get from alaska, they think salmon and energy. But the energy bp produces up here creates Something Else as well jobs all over america. Engineering and innovation jobs. Advanced Safety Systems technology. Shipping and manufacturing. Across the United States, bp supports more than a quarter million jobs. When we set up operation in one part of the country, people in other parts go to work. Thats not a coincidence. Its one more part of our commitment to america. Became big business overnight . Like, really 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 thinkorswim. From td ameritrade. A Research Tool on thinkorswim. That corporate trial by fire when every slacker gets his due. And yet, theres someone around the office who hasnt had a Performance Review in a while. Someone whose poor performance is slowing down the entire organization. Im looking at you phone company dsl. Check your speed. See how fast your internet can be. Switch now and add voice and tv for 34. 90. Comcast business built for business. Stuart america get hold of some foreign support and try to change the rules. You wanted to expand the size of the goal. Well, it is true. I did not express a harsh opinion there. You know that i like soccer. I watch it. You disagree with me. Here we go. Kathy says this. Stop it, varney. Quit trying to shove this down our throats. Jeff adds, mr. Varney, you may be surprised at how Many Americans are rejoicing. They will be elated with the world cup evaporates from our tvs. Stuart i hear you. 16 Million People tuned in for mondays game. Keep those comments coming. Keep them short. Conagra is moving. The people that make chef boy rd, banquet. It is considering moving its headquarters to england for tax purposes. Spacex. A new investment in an artificial company. He says it is not about the money. He wants to keep tabs on the industry to make sure robots do not become too smart and take over the world. I think charles and i agree on this. Charles i talked about it last week. You have to be careful about artificial intelligence. I do not get it. I do not understand. It is amazing the direction that they are going in. It is just not inconceivable anymore. Stuart robots do not take control. It is robots knowing all about you and adjusting their behavior to you and controlling you. That is what it is about. Charles once you start having feelings for these robots, that is all she wrote. Blade runner. The speech at the end by the robot was an amazing speech. Stuart it is a movie. [laughter] stuart putting men on mars. That is dreaming. That is extreme. You like the guy. Take a look at this, please. Sold for nine and a half billion dollars. A1 said stay up. Charles just get back to the points. You want to have physical assets. It could be any of this stuff. Stuart that little delight right there has been sold three times previously. [laughter] charles it has been a long time. Stuart the rich are getting richer. The middle class is getting squeezed. The middleclass that proves it. The two stories combined next. More than a feeling more than a feeling i may be dreaming living on top of the world my dad has aor afib. Brillation, he has the most common kind. Its not caused by a heart valve problem. Dad, it says your afib puts you at 5 times greater risk of a stroke. Thats why i take my warfarin 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 of stroke. And unlike warfarin, with no regular blood tests or dietary restrictions. Hey thanks for calling my doctor. Sure. Pradaxa is not for people with artificial heart valves. Dont stop taking pradaxa without talking to your doctor. Stopping increases your risk of 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 unexpected signs of bleeding, like unusual bruising. Pradaxa may 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 have kidney problems, especially if you take certain medicines. Tell your doctors about all medicines you take. Pradaxa side effects include 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 mary barra is back on capitol hill. No fireworks thus far. She is being grilled, but there are no fireworks. Here comes amazons first smart phone. A pocket cash register, if you will. That is the way we describe it. A 3d image on the smart phone. The stock is not moving that much. Here is charles again. He says he will make us some money with a company. Charles it is a retail operation. Here is the thing. It is a high risk idea. You can go there, i do not care how bad your credit is. You are walking out of there with a tv, a mattress, everything. The good news is, most of their stores are in texas. I like it on an upswing. If anyone else likes it, i will use 44. Stuart very honest. Thank you very much. Last year they added 2. 6 million. Up 19 . You would not contest the view. The top 20 are getting richer. They are leaving behind everybody else. I can attest to that. The rich are welcoming the middleclass to join them with open arms. We need more rich people. We have a million new millionaires in this country. People are getting richer and the middleclass. Stuart i think that is all good news. 1. 1 million extra billionaires in the United States 2013. That is because of the real estate recovery. You are right about that. The middleclass, there is all kinds of opportunity out there like never before to get rich. To make money. Stuart the world is looking at this gap. The gap is widening. Listen to what the man on the left had to say on his Facebook Page last night. At what point does could speak she was consumption invite a revolution . He is on board with this widening gap. He is looking at the consequences. I do not think he gets it. I dont think he has ever gotten it. I tried last week to get someone to pick weeds at my house. I now have poison oak or iv or Something Else. There are 100 houses in my neighborhood that could use someone to pull weeds. The opportunities are out there. How about the revolution being going out and claiming, staking your claim and becoming a millionaire yourself. Stuart if you can inspire the vast majority of people to say, hey, we cannot make it because those people are making it, you have yourself a political problem. Listen to this. It is increasingly intolerable. Financial markets are shaping the destiny of people rather than serving their needs. The many are deeply burdened by the consequences. Your message, steve, the middleclass can join in this. Being drowned out by the pope. Essentially, they say the deck is stacked against middle america. I completely disagree. I do not think that they understand. The money that the rich have is an effect. It is a cause and effect relationship. You do not get one without the other. Getting the middleclass to move on up. Get the government out of the way. They spend too much. They dont know what theyre doing. Stuart do you think that that message will resonate in America Today . I sure hope so, stuart. There will be a revolution. How about a positive revolution. People are going and staking their own claim. Making their own money. They are outnumbered by people that say it is not fair. Everyone has the same opportunities. Stuart they say that it is not fair. That is why discussions like this are not critical. They need to pull up their boot straps and go to work. Stuart thank you very much, indeed. Thank you, steve. I have something for you and for our viewers. Listen to this. Do you know what is coming . Charles i know what is coming. Maybe about to get a very big payday. He just won the championship. He is with us. Unlimited cash back. Let that phrase sit with you for a second. Unlimited. As in, no limits on your hardearned cash back. As in no more dealing with those rotating categories. The quicksilver card from capital one. Unlimited 1. 5 cash back on everything you purchase, every day. Dont settle for anything less. Ill keep asking. Whats in your wallet . Charles your fox business brief. At t will be the exclusive carrier in the companys relationship. At t already provides service to amazon. Violence in iraq forcing two of the Worlds Biggest Oil companies a major evacuation. Bp evacuated at least 20 of their employees. The champ will be on set with us. He had an amazing fight. Down twice in the first round. The most powerful punch her in his division. He came back and he won. He is from new york. He will be here. I ys say be thman with the plan but with less ergy, moodiness, i had to do something. I saw mdoctor. A blood test showed it was low testosterone, not age. We talked about axiron the onlynderarm low t treaent that can restore t vels to normal in about two weeks in most men. Axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. Women, especlly those who are or who may become pregnant, and children should avoidt where axirons applied as unexpected signs of puberty in children or changes in body hair or incased acne in women may occur. Report these symptoms to your doctor. Tell your doctorbout all medical conditions and medications. Serious side effects could include increased sk of prostate cancer, worsening prostate symptoms, decreased sperm count, ankle, feet or body swelling, enlarged or painful breasts, problems breathing while sleeping and blood clots in the legs. Common side effects include skin redness or irritation where applied, increased red blood cell count, common side effects include skin redness headache, diarrhea, vomiting, and increase in psa. Ask your doctor about axiron. Stuart the market is down 35 points. There are some very big winners. Adobe is up. Nicole the stock is at a new high. Of almost 8 at the moment. 72. 80. The cloud computing. With that subscription growth that i mentioned earlier, you are seeing the stock move to the upside. Use the adobe jumping up. Stuart the overall market is pretty much in limbo. At 2 00 oclock this afternoon, we find out what the Federal Reserve thinks about future Economic Growth or otherwise. That is at 22 00 oclock. Janet yellen will hold a press conference at 2 30 p. M. At that point, you may see more of a market move one way or the other. Tony is the guy that did the inquiry into General Motors. He was asked if there was a coverup of these defects. He said no. It has not gone down. I cannot imagine worse publicity. The stock has held between 33 and 36 a share. It is working to limit its legal liability. Recently, its sales were up double digits. The result is the stock is holding in there. Any comment, charles . Stuart i cannot get out of my mind, toyota. The stock was around 3335. Terrible publicity. They fix the problem. Dealt with it. Charles these are temporary fixes most of the time. Something very different for you right now. A boxing champion is using his winnings to pay off of his debt. Here he is. He is the junior welterweight champion. Ground this weekend. You are wearing sunglasses because you have puffy eyes. A little bit. Stuart charles was watching the fight when you are winning the championship. It was not as planned, but it worked out. You won 100,000 for that. When does the big payday . Hopefully the next one. I would like that very much so. Stuart what we really want to talk about is who you are. You are going to medical school. Yes. Stuart that is not the normal background that we think of for a normal guy that beats a guy up for a living. [laughter] stuart you are going to do that. You have already been to school. You have your masters. You are going to middle school school. How does boxing work in here . How do you work the two around . It is challenging. Boxing is my passion. I know there are career paths and other things i need to do. I cannot fight forever. It is a very real risk. It is something i understand. It is a gamble i am willing to take. Just the style of fighting that. I try to take as little damage as possible. Stuart you will not take the dark glasses off . I can. Charles it has actually gotten a lot better. It has actually gotten a lot better. Charles you are also a businessman. We always promote the American Dream on this network. You are a nutritionist. You help people out. Absolutely. The winnings in this fight has gone to pay off my school loans. That is a beautiful thing for me to be debtfree. Especially going to school. Stuart what are your chances charles how about winning the fight . I am there to win. Stuart what are the chances . Of winning . Stuart no. Of getting the fight. It is hard to tell. Charles politics. Everyone has their promoters. I think you will get the fight. No disrespect. If you cannot hurt him physically, you are becoming a big drop. After all, that is what big mistake. I was saying the whole time they picked the wrong guy. They gave me my shop. Charles the first round [laughter] this kid has guts. Moments ago, he did a business brief. [laughter] stuart thank you, sir. The irs said they lost key emails from lois lerner. So convenient. We are going to capitol hill to discuss that next. [ female announcer ] we love our smartphones. And now telcos using hp Big Data Solutions are feeling the love, too. By offering things like onthespot data upgrades an idea that reduced overcharge complaints by 98 . No matter how fast your Business Needs to adapt, if hp Big Data Solutions can keep wireless customers smiling, imagine what they can do for yours. Make it matter. Imagine what they can do for yours. When folks think about wthey think salmon and energy. But the energy bp produces up here creates Something Else as well jobs all over america. Engineering and innovation jobs. Advanced Safety Systems technology. Shipping and manufacturing. Across the United States, bp supports more than a quarter million jobs. When we set up operation in one part of the country, people in other parts go to work. Thats not a coincidence. Its one more part of our commitment to america. What happened . Life happened. Stress. Fun. Bad habits. Kids. Kids. Kids. Now what . Not milk. Not sheep. Not that. Lets think smarter. Lets get some science in here. Lets build a bed. Another bed . No, a smarter bed a entirely new sleep number bed that tracks your movement, your heartbeat, your breathing sensors working directly with the dual air chambers yeah you need the air chambers. Introducing the sleep number bed now with sleepiq technology. It tracks your sleep patterns and tells you how to adjust for. A good nights sleep, a better night, and an awesome night. So what sleep number adjustments make the difference . Try cranking it up . Adjust it down . A little bubbly . Or nix the late night flicks . Wait, youll know what works, cuz sleepiq™ technology tells you. And all you have to do is sleep. Which is easy. Only at a sleep number store, mattresses with sleepiq start at just 999. 98 because everyone deserves a great nights sleep. Know better sleep with sleep number. Stuart darrell issa says lois lerner will pay for her role in the irs targeting scheme. Lois lerner wrote regulations. Lois lerner broke laws and lois lerner under oath testified she didnt. I consider that perjury. I expect that she will be criminally referred and if not under this attorney general who seems to have no stomach for going after friends of the president , underdone next president those charges will be brought. Stuart there is another region involved and that is the lost emails from los lerner and six other officials, congressman kevin brady joins us from washington. Nobody believes that those emails are truly lost did everybody wants you and congressman like you to go after this and get those emails because they exist somewhere. Will you promise to do that . Absolutely. We dont need any prodding on this. The level of corruption and deceit at the irs and the white house is astounding beyond concealing the targeting of americans from within two years, beyond the main producing the emails, losing the emails of seven key figures especially the chief of staff who spend an enormous amount of time at the white house isnt susceptible so the hearing friday will focus on retrieving those emails. Stuart separately you have got a bill in the house to do away with the estate tax, i believe you have got the vote to pass it. Is that correct . We do. 221 as of today. Stuart you know it is going nowhere. It will not be taken up in the senate so this is symbolic to some degree but a statement of intent for republicans this november. It is the senate isnt doing anything. They are dead frozen. That shouldnt stop the house and the majority of americans from ending the death tax because it is the number1 reason familyowned businesses are not passed to the next generation. Women and minorityowned businesses Building Wealth for the first time who are hurt as well. Stuart congressman kevin brady we are out of time but thank you for joining us. Thank you. More varney in two minutes. [ male announcer ] its one of the most Amazing Things we build and it doesnt even fly. We build it in classrooms and exhibit halls, mentoring tomorrows innovators. We build it raising roofs, preserving habitats and serving americas veterans. Every day, thousands of boeing volunteers help make their communities the best they can be. Building Something Better for all of us. So i can reach ally bank 24 7 but there are24 7branches . Im sorry im just really reluctant to try new things. Really . Whats wrong with trying new things . You feel that in your muscles . Yeah. I do. Drink water. Its a long story. Well, not having branches lets us give you great rates and service. Id like that. Experience a new way to bank where no branches great rates. Ally bank. Your money needs an ally. Stuart brit hume says it looks like a failed presidency. Dick cheney says the obama is collapsing. Voters seem to agree. Low approval for president obama a new poll and the economy and Foreign Policy too. Policies unravel mr. Obama came to new york for a fundraiser for and now winter. The second hour of imus in the morning varney and company is about to begin. Stuart headlines two hours from now we get the economic forecasts from the most important forecaster janet yellen. Stocks prima jed in the water until then. How convenient. The irs loses not just lois lerners emails the six other irs officials too. Grover norquist on that. Mary bara answers questions, where gm safety problems swept under the rug during the government bailout. And the archbishop of canterbury says your smart phone destroys reflective thought. Enough to make keith ablow an e episcopalian. Checking the big board, stocks are off of session lows but barely, we are down 37 advance of the fed statement. Diaz and the 500 same story down a fraction, 0. 77 lower. Wheeled around one hundred 6 per barrel down 0. 20 right now. Ten year treasury yield back above 2. 6, 263 to be precise. Look at General Motors stock. Ceo mary baraid for another round of congressional hearings on those recalls. The stock is holding its own. More on that in a couple minutes. Lets get to the chaos in iraq. Militants capturing the Northern City overnight set fire to the countrys Largest Oil Refinery which is bare. Exxon and British Petroleum evaluating their employees from the country. This coming on as we learn canada will build an oil pipeline, not keystone to bring you oil south, this will take the oil west to china. Scott kennedy is here. Your reaction to all of this . The world has gone mad again. Common sense is not ruling anything any more. The markets, the guys behind me will tell you this is not ukraine, russia. The tentacles of this middle east crisis with the oil are far reaching and far enough to reach canada and canada is not going to bite this oil west rather than south. I will give you a History Lesson. We have the fed decision today but in 1937 after 1929 crash and the economy laying on its back like it is now there were a few signs of inflation like we had with cbi and the fed raised rates too soon or signaled they were going to raise rates too soon and send a stumbling into another recession only to be rescued by world war ii productivity thereafter. I know she is probably not got her hand on the pulse as far as what is happening in the middle east but it has got to be something on the minds of those folks around that room because the cpi we are getting, if they signal a rate rise too soon that could send us into another recession and that has got to be something they are thinking about because the fed chairman made that mistake in 1937. Stuart she will have to be careful at 2 30 eastern when she answers questions, dont step any line, make it in any way because youre History Lesson is well taken. Out of time. We will be watching. Lets get to Nicole Petallides because i have a big move up for the stock price of fedex. Nicole it is of 40 from last year hitting a new high today, of 5 today and that is on profits and sales and shipments and volume and cost cutting, just to name a few things that are going right for fedex the fedex talkedabout quarterly profit on a rise as they are doing obviously more shipments. A lot of online ordering helped them as well and they had a good outlook for 2015. Analysts on board liking what theyre seeing with fedex and moving it to new highs, stock is up 5 . Stuart what a performance. Lets get back to mary bara and gm, answering tough questions once again. I have a clip from a couple minutes ago. Roll it. Those deaths occurred because our ship, gm, had some problems that cant be fixed overnight. As gm and skipper, it is upon you. Squarely. Upon you. Stuart we are joined by congressman pete olsen, the one asking some of those questions. That was a pretty tough question you asked. How do you judge her answer . Thank you for having me. As a man with six kids he had a great sunday. Miss ourat a came in, one simple question, tell me how many people have died because these were defective, she said 13. On the wall behind us, 15 photographs of americans killed by these vehicles. That is outrageous. They cant tell us the truth. Stuart what do you want done with General Motors . They are not telling us the truth, stonewalling and delaying what do you want to have done with General Motors . They are making progress. The fact that the outside investigator who got free reign of gms progress but give us the truth. I want to know how many people died, how many people died because of defective vehicles, that is it. That is all i want to know. Stuart do you think mary bara and General Motors wants to limit their liability . If they say it might be 200 dad, just supposing they said that, that is unlimited liability. You cant expect them to say that. They have got to limit how much they have to pay out. I expect the truth. That is all we are asking for. The truth about these injuries and deaths occurred because of defective cobols. There is a Victim Compensation fund going on line. How much is that going to be . Mr. Feinberg, the white in seventh he is in charge of it. That is scary. Stuart how about this for a question . Was the bailout of General Motors at the time of the government take over the bailout of General Motors, do you suspect that they knew about this safety problem but swept it under the rug to get the bailout done . Any suspicion like that . We just dont know. We are trying to find out the truth. How many people have been killed by a defective vehicles the . Ranch simple. How many have been injured by defective vehicles . Stuart at 10 00 eastern time you have been here for two hours and are asking questions. What is your judgment of miss baras responses . She has taken charge, results of the for what happened but the bottom line is still it happened. People have died because these vehicles were defective. Some people at gm knew that but that didnt get to people who could fix the problem and that is outrageous and were trying to find out what this happened, make sure it never happens again. Stuart congressman pete olsen, thank you for joining us on a busy day, thank you very much. Grover norquist with americans for tax reform in d. C. I will make a blunt statement. Nothing changes. I will not get a personal income tax rate cuts. A company will not get a Corporate Tax rate cut. There will be no change in tax policy period until 2017 and theres nothing you can do about it. That is probably true. Obama wont sign anything worth having. He has always wanted 1. 4 trillion in higher taxes as the price for any Corporate Tax reform which means you really cant have tax reform. He just thinks it is all hook to get a tax increase. Since that is not going to happen, the 50 states are ready action is. You are seeing states like North Carolina and kansas move toward zero on their state income taxes. Arizona has a governors rays where most candidates want to go to zero on the state incometax. You can cut your taxes in the United States, you just have to move to another stage or if your Company Another country. Stuart here is my problem with this. Obviously i am with you. I think that if we cut tax rates we will get real growth in the economy, reagan style growth, dynamism. I am with you all the way but i dont think theres anybody putting out that message in a forceful fashion on selling that message to the American People. We are getting the left, much stronger, saying it is not fair. Is not fair. Income inequality is not fair. I cant move up in the world. Their arguments is being made more forcefully than our argument which is cut taxes and grow. Again, in the states where you can actually pass legislation, most of the republican states, 24 states have a Republican House, senate and governor. Almost all of those have cut taxes in the last three years, 13 states are run by democrats. They have been raising taxes. They havent been getting fairness, they havent been getting less income inequality, theyre just getting bigger government. These are very live debates at the state level because of the gridlock in washington. The establishment press reading the president s talking points a you are quite right that is the narrative in d. C. Stuart i have to get your take on the irs. Losing lois lerners emails, not just any old emails but the ones from her to the white house, the ones from her to Congressional Democrats and the emails of six other irs officials as well, that is breathtaking. I dont know how to describe it. I. T. Incredulous any administration would say that kind of thing. They have been used to the establishment press buying just about anything but this is Rose Mary Woods and the 18 minute gap in the tapes that Richard Nixon had. This is oddly enoughs a crash of a computer which actually makes a hard drive disappear but only specifically for six and seven people who were being asked if we could look at some of their sensitive emails. This is clearly a violation of the law. They are obstructing justice. And the nixon people went to prison for this. My guess is they are just hoping they can get past the statute of limitations. Stuart i am hoping they get those emails. They are on some server somewhere. The nsa must have them. Stuart the nsa must have them. They are useful for something. I am sorry, we are out of time but we got to get the message out there, reagan style growth. Stuart i am here on your show. That is our point. Stuart grover norquist, thank you very much. Two topics for dr. Keith ablow leave red meat for him, the archbishop of canterbury says instant reaction on social media has replaced reflective thought. Second story, president obamass and the administration. Does the president even care . That guy next. mother vo when i was pregnant. I got more advice than i knew what to do with. What i needed was information i could trust on how to take care of me and my baby. Luckily, unitedhealthcare has a Simple Program that helps moms stay on track with their doctors and get the right care and guidancebefore and after the baby is born. Simple is good right now. anncr vo innovations that work for you. Thats health in numbers. Unitedhealthcare. When folks think about wthey think salmon and energy. But the energy bp produces up here creates Something Else as well jobs all over america. Engineering and innovation jobs. Advanced Safety Systems technology. Shipping and manufacturing. Across the United States, bp supports more than a quarter million jobs. When we set up operation in one part of the country, people in other parts go to work. Thats not a coincidence. Its one more part of our commitment to america. Stuart if you have a computer you know the name adobe. Strong profits and that goes the stock. It is 7 , not bad. How about coach . I often called the democratic luxury. It is down. Stock is down. Barkleys cut its target price. Look at that. It is sinking below 40 a share. Now this. Bill and Hillary Clintons support the death tax. That doesnt mean theyre going to pay estate taxes. Liz macdonald is here to look into that. Liz this from bloomberg news, they broke the news that the clintons have been avoiding taxes with the state, using trusts and things like Capital Gains taxes so the question is Hillary Clinton has been out there saying we were dead broke, making an appeal to the middle class, not sure you can make these 1 moves and still appeal to the middle class. Is this another gaffe on the part of the clintons . Ensure appears that way. Stuart just like warren buffett. Wont pay estate taxes on his 35 billion, no, he will give it to the bill and Melinda Gates foundation, give it to charity. Liz bill clinton vetoed an elimination of the estate tax in 2000, still wanted the estate tax and said it is your patriotic duty to pay taxes. Again and again we see politicians raising taxes on everybody else but avoiding them in their personal lives and it really is not a great way to go. Stuart i can not spell it but i know hypocrisy when i see it. Thanks. Now this. The archbishop of canterbury says the rise of social media, facebook and twitter, killing quiet reflection and distorting discussions on complex subjects. Sounds like what we have been hearing from our own favorite guy who puts people on the couch, dr. Keith ablow is with us now. This is right of your tree. I said earlier, i mean no disrespect it is enough to make you an episcopalian but not quite. I know you agree with him. He says all this looking at these things you cant, there is no reflective thought. I say okay, i understand that but these things are here to stay. You cant cut the law. You got to get used to demand incorporate them into your life. Right . I dont know. We can have technology holidays. We may restrict access to some of these apps or technologies for people under certain age. We need a Surgeon Generals warning about this. The archbishop is saying there is up window here. You only use 140 characters. That is the medium being the message. It truncates discussion. It ceases people being reflective. It stands in a way of that and when you think about the fact that you can instant message anybody any how, you might not even invest a phone call on that person so the whole relationship is a lie. Everyone u. S. Sending a group email to on fathers day, it is a why because it is too easy. You dont care about those people, dont care if theyre happy, shut up. Stuart i have to ask this question, may have asked this before. Am i a bad father . Because one recent day i was watching frozen on one screen with three of my grandchildren, the three grandchildren were watching that scream and also they had their own little screens doing stuff on narrow little screens which i thought that was just fine and dandy. Am i am bad father . You are not a bad father, you are just misguided because we rely on you as an elder statesman of the family to say listen, put away the screens, lets at least Pay Attention to one thing for a while and by the way were going to get out and play a game after this is over because that is when we will have fun. Takes kids time to get adjusted to that now but it is reality. I caught that. I felt it in my hands. I had to move my muscles and saw my grandfather was proud of me. That is a very different experience. Stuart i will try to learn from your example. They should put you more too. You should be dug the lot, you are ambivalent about hugs and you should be at constantly. Stuart moving on. President obama back on the couch. Scandal at home, and rest abroad, he goes golfing and attends fancy fundraisers. Put him on the couch. What is he thinking . Things are going well for this president because this president is watching the retreat of america which he has orchestrated from spheres of influence where it belongs. Spreading freedom and stabilizing nations so that liberty can grow to the extent he can he roads that weather by laizzezfaire attitude or various mack and asians to which we are not privy but i believe move him, he wins and why wouldnt he go golfing . America is not exerting its influence and that was his goal from the beginning. Stuart fair point. I want to see do you have any reaction to this . The netherlands just on one up against australia in the world cup. I think the game will end and a tie, but there will be a threat at the last moment for a 21 game but it wont materialize. Psychiatrically speaking. If im right i will sell my predictions. Stuart you probably could. That was fun. Clinton, she will run ou. For the presidency in 2016. I say she loses. My take on why. That is next. Stuart australia just legalized, they scored, netherlands won, australia won, out of time, lets go to break. When you run a business, you cant settle for slow. Thats why i always choose the fastest intern. The fastest printer. The fastest lunch. Turkey club. The fastest pencil sharpener. The fastest elevator. The fastest speed dial. The Fastest Office plant. So why wouldnt i choose the fastest wifi . I would. Switch to comcast Business Internet and get the fastest wifi included. Comcast business. Built for business. Could help your business didavoid hours of delaynd test caused by slow internet from the phone company . Thats enough time to record a memo. Idea for sales giveaway. Return a call. Sign a contract. Pick a tie. Take a break with mr. Duck. Practice up for the business trip. Fly to florida. Win an award. Close a deal. Hire an intern. And still have time to spare. Check your speed. See how fast your internet can be. Switch now and add voice and tv for 34. 90. Comcast business. Built for business. Stuart less than two hours from the countrys economy even as the latest reading on growth. Janet yellen, the most powerful person in the world. Arguably. She speaks 90 minutes from now. Will just above 16 a barrel, iraq notwithstanding. We will weigh in on what is called a failed presidency, mr. Obama, calm numbers back up. Polaroid, and iconic brand did not die, it reinvented itself. Still to come how polarized alive in the digital age. She has a campaign staff, ready to roll, she has money and she has a book. Surely Hillary Clinton is running for presidency in 2016 ensure the sheet will be the democrats candidate. Can she win . Here is my take. My track record in president ial election forecasting is not good. I really thought mitt romney would win. Having said that i am prepared to say there are three strikes against a hillary victory. First she is a professional lifetime politician. I dont think america wants and other professional lifetime politician in the white house. The ability to lead is of prime importance. Her new book does not outline exactly where Hillary Clinton would lead america. Second, her name clinton. Is not the association with president clinton that is the problem but the idea of a political dynasty. A bush or clinton has been involved in eight of the last nine president ial elections. A lot of people i saying enough already. Third this clinton has achieved very little in her lifetime in politics. As first lady her own version of Health Care Reform failed miserably. As secretary of state not even her own state department could come up with a list of achievements. To be president you need a track record of success and the clear vision of where you want to take the country. Lets not underestimate her clear advantages. Many people want her to be the first woman in the top job and there are many people who want a moderate democrat in the white house. Hillary clinton fills those slots. Here is where i come down, 21 2 years before the election. America wants competent management at the top. Economic growth for everyone, prosperity. Surely we have had enough of all government all time. That is not what Hillary Clinton is offering. Gender politics, attended san fresen, same old same old. It is not going to cut it. I think she runs, my guess is she loses. I ys say be thman with the plan but with less ergy, moodiness, i had to do something. I saw mdoctor. A blood test showed it was low testosterone, not age. We talked about axiron the onlynderarm low t treaent that can restore t vels to normal in about two weeks in most men. Axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. Women, especlly those who are or who may become pregnant, and children should avoidt where axirons applied as unexpected signs of puberty in children or changes in body hair or incased acne in women may occur. Report these symptoms to your doctor. Tell your doctorbout all medical conditions and medications. Serious side effects could include increased sk of prostate cancer, worsening prostate symptoms, decreased sperm count, ankle, feet or body swelling, enlarged or painful breasts, problems breathing while sleeping and blood clots in the legs. Common side effects include skin redness or irritation where applied, increased red blood cell count, common side effects include skin redness headache, diarrhea, vomiting, and increase in psa. Ask your doctor about axiron. Are the largest targets in the world, for every hacker, crook and nuisance in the world. But systems policed by hps Cyber Security team are constantly monitored for threats. Outside and in. Thats why hp reports and helps neutralize more intrusions than anyone. In the world. If Hp Security Solutions can help keep the Worlds Largest organizations safe, they can keep yours safe, too. Make it matter. [ girl ] my mom, she makes underwater fans that are powered by the moon. She can print Amazing Things, right from her computer. [ whirring ] [ train whistle blows ] she makes trains that are friends with trees. My mom works at ge. Seeing the world in reverse, and i loved every minute of it. But then you grow up and theres no going back. But its okay, its just a new kind of adventure. And really, who wants to look backwards when you can look forward . Stuart breaking story in sports. No, its not the tie between australia and netherlands going into halftime. The Patent Office on the trademark for the Washington Redskins name. Liz macdonald, the team. The Redskins Team is saying weve seen this story before, we and here before like last time, this ruling today will have no effect on the teams ownership of an right to use the redskins name and logo. The redskins say we are confident we will prevail once again when we appeal this decision so theyve been there before, theyre going to repeal it. Stuart pressure to get them to change the name. Harry reid on the floor of the senate made a statement of his own doing a victory lap right now. How long will the nfl continue to do nothing, zero as one of the team bears a name that inflict so much pain to native americans. Do what is morally right and remove the degrading term by changing the name. Stuart that was earlier this morning. The democrats collectively want the redskins to change their name. They sent a letter to the commissioner asking him to get the redskins to stop the use of the name. This is equal end of an economic sanction, whether or not they will lose money from this move. They can still use their name. There have been counterfeit and knock offs all the of merchandise, im not sure how much Material Impact this would have on the redskins. Stuart we are still mary barra testimony. She is back on capitol hill for round two. Any fireworks . She went through a grilling. Mary barra, a republican out of pennsylvania who runs the subcommittee says he is unconvinced that he thinks there may have been a coverup of bad decisions that led to this defect that killed at least 13 people. He still has questions whether gm knowingly covered up prior liability lawsuits what was going on with the defective switch. Could they have done a recall and save lives . And a representative says it is alarming most Senior Executives did not know about the defect that caused dozens of deaths and does not absolve them of responsibility. The last congresswoman i cited was a democrat. Stuart have to look at some of the polls out this morning because they are really interesting stuff here. Only 41 say they approve of the overall job the president has been doing. I think that matches the low in that poll. Only 41 say the handling of the economy is okay. His approval on handling a form policy has hit a new alltime low, 37 city president is doing a good job on that front. We had dr. Keith ablow, listen to what he said. Why wouldnt he go golfing . America is not exerting its influence. Stuart herman cain is with us. For more on that an in what he d about golfing while iraq burns. Last night break human said this presidency is failing, it is a failing presidency. That was his precise wording. What do you make of this . I think he is absolutely correct. The American People cant hold him accountable because of harry reid. Remember harry reid controls the United States senate. If the house were to make any sort of charges against the president , they would have to go through the senate. Harry reid would much rather talk about changing the name of the redskins then doing his job in terms of helping this economy and helping the president with Foreign Policy. The other reason this is a failed presidency, this administration has a crisis of crises area did plural when you look at the va, you look at iraq, we have an economic crisis. Obamacare is a crisis but they are in denial. Even what the epa is doing to put the coal industry out of business, it will create another crisis based upon not proven science. They have a crises of crises. Stuart heres what i am picking up from the viewers. Intense frustration because the matter what happens this november, there is no serious change coming until january at least of 2017. Because even if the republicans sweep the senate this year, they want to do something in the following year with Republican House they still face a veto from president obama. I put it to you they are frustrated because there aint nothing you can do until january of 2017. Not so fast. Let me explain why. In 2014 by taking control of the senate and keeping control of the house, we can slow this administration down. Right now we dont have the ability to slow this administration down because of harry reid. Before you stop a train, you must slow it down. So i believe 2014 is critical, and it will make a difference. Stuart 2014 is absolutely vital, no question about that. What i am saying is you are not going to get an income tax rate cut, a Corporate Tax rate cut, you will not reverse the epa rules on call, there are all kinds of things. You cannot reverse this until you have got somebody else in real power in 2017. I dont think you will disagree with me on that one. Oh, no. Uf i thought you said some of your viewers thought 2014 wont matter. It will matter a lot. All of those things, that spells this economy is not only going to continue to stall, but i think were going to see more of what we saw in the First Quarter of this year, and that is an economic contraction. All of the things he mentioned spell uncertainty, they spelled Business People not wanting to expand, which means unemployment is going to continue to stay high and go up, this means Economic Activity is going to continue to contract. Stuart we have to leave it at that. Economic activity is going toon. As always, thank you very much for joining us. The situation in iraq deteriorating. One market watcher who says if it gets worse, it is going to hurt your money. Back in a moment. When folks think about what they get from alaska, they think salmon and energy. But the energy bp produces up here creates Something Else as well jobs all over america. Engineering and innovation jobs. Advanced Safety Systems technology. Shipping and manufacturing. Across the United States, bp supports more than a quarter million jobs. When we set up operation in one part of the country, people in other parts go to work. Thats not a coincidence. Its one more part of our commitment to america. Welcome back. A big move for bitcoin. First major sports deal with the sponsorship of one of College Footballs postseason games. They announced the game will be played december 26 and will be called the st. Petersburg bowl. They can pay for everything from tickets to concessions with bitcoin. The Company Reported good fourthquarter numbers and announced it would charge customers based on package sizes starting in 2016. Moving higher about 5 . A big announcement from adobe this morning. Make it much easier to use a mobile device like tablet and iphones. Up big on the news and a big secondquarter report. Shares of adobe doing very nicely this morning. We build it in classrooms and exhibit halls, mentoring tomorrows innovators. We build it raising roofs, preserving habitats and serving americas veterans. Every day, thousands of boeing volunteers help make their communities the best they can be. Building Something Better for all of us. [ indistinct shouting ] [ male announcer ] time and sales data. Splitsecond stats. [ indistinct shouting ] its so close to the options floor. [ indistinct shouting, bell dinging ]. Youll bust your brain box. All on thinkorswim from td ameritrade. Stuart the real Halftime Report, Nicole Petallides at the exchange. Liz macdonald right here. This is my opinion, iraq keeping the lid on the stock market. Charles, what do you say . This could be the Tipping Point. Any escalation and hostility over there which is more than likely, oil could go to 120 per barrel. That would be devastating for the market but any escalation that brings iran in could be the Tipping Point in the market could head south very quickly. Stuart next up, Robert Reisch writing o at what point does the ultrawealthy bring about a revolution. A lot of numbers dont offer what they give to be poor. Food stamps, housing subsidies, home heating subsidies and how 401 k accounts are not vote on tax returns so they have skewed. Robert reisch has been out for before saying stuff like that, being criticized as really inflammatory because the u. S. Is one of the most mobile societies in terms of income and ability and globalization taking over. Stuart inflammatory, we will leave it at that. Amazon debuts a new smart phone an hour from now. Are you still not buying the stock hashtag to . I think the idea of amazon to come out with a phone is fantastic. The ecommerce shoppers ecosystem. I dont think it will impact the stock typical amazon will sell probably at cost and subsidize it so it will not have an impact on the stock. Too rich. Stuart now i want to deal with lazboy. The stock today is down. Nicole, why . Nicole the stock was down at 10 at one point. Sales have dwindled a bit sore samestore sales actually posting a decline. They are in fact blaming the weather and also some advertising costs, so the idea here is things will in fact turn around as a notice of first decline we have seen in three and half years, down 9 . So that is a huge moved to the downside, stuart. Stuart coming up in about within two hours of now, that is the Federal Reserve, janet yellen will be issuing her statement on where the economy is going and then she will from the media. I dont mention it very often on the show, we dont always get to grips with it, but it is a big deal, is it not . What she says will move the market. Glov club greater and greater impact on the market as the unwind is occurring in farm back terms of the taper. Maybe they dont see what they saw the First Quarter and maybe would have liked to continue something in terms of Additional Support or stimulus. Anything she says will be very impactful. We will have to keep a close eye on it. Stuart what do you think is going to come up here . It is broken because so many excess reserves, the banks have to borrow from each other. We do see inflation creeping into the u. S. Economy and how they will deal with that, that is key. Stuart whatever she says today, does the market to up or down when she said it . Everything positive, nothing the market will dissipate that will be rewarding for the market. She can only step on her own toes and the market will probably suffer from it. Stuart as of right now the market is waiting for her to speak. We are down 21 points on the index, that is a pretty flat market if ever i saw it. We will see what the outlook is. And janet yellen speaks. Thank you one and all of being a part of the real Halftime Report today. We will show you how it stayed alive next. D. Its not caused by a heart valve problem. Dad, it says your afib puts you at 5 times greater risk of a stroke. Thats why i take my warfarin 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 of stroke. And unlike warfarin, with no regular blood tests or dietary restrictions. Hey thanks for calling my doctor. Sure. Pradaxa is not for people with artificial heart valves. Dont stop taking pradaxa without talking to your doctor. Stopping increases your risk of 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 unexpected signs of bleeding, like unusual bruising. Pradaxa may 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 have kidney problems, especially if you take certain medicines. Tell your doctors about all medicines you take. Pradaxa side effects include 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. What happened . Life happened. Stress. Fun. Bad habits. Kids. Kids. Kids. Now what . Not milk. Not sheep. Not that. Lets think smarter. Lets get some science in here. Lets build a bed. Another bed . 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Eastern. Please join us. Stuart mary barra on the stand for close to two and half hours. No impact on the stock at all, down 0. 26 but holding at 36 per share. Now weve got polaroid. You think its dead . Wrong. Its alive and well because it reinvented itself. The ceo of polaroid photo bar. You are not in the picture business any longer, are you . What business are you in . We are not in the photofinishing business. We sell products, really wonderful products, special pictures h you may have in your phone, instagram, facebook and create wonderful products for your shelf. Stuart i have one here, you have the technology to put it on a shelf. You can see those, right . That is it. We have five currently, you sit at the bar, the polaroid photo bar. Wherever those reside you have been upset have not had anything with, you see what you can create and wirelessly hundreds of products. Stuart any picture in my phone onto something, so we are looking at a picture display which is in blocks, this would sit in your office, Something Like that, you can put it on all kinds of things. Exactly. You can take the 1 polaroid and put it into a beautiful bamboo frame with the polaroid magnet on the back. You can have six different polaroid all at once. Everybody is a photographer, more taken last year than all of modernday history combined. Most of the best pictures never leave your phone. Stuart i have a picture of me on the back of my iphone. Can you do Something Like that . It is common for the holiday time. Stuart it is a photo bar. You have five of them . We have tested four stores. We recently opened up our flagship location in las vegas. Stuart it is not the polaroid i remember, is it . It is a global Brand Awareness alive, well and strong. Stuart you took a picture, it was right there instantly. That was unique. You are not in that business any longer. You take your picture off your phone and within a few minutes we will produce awesome products or you be at we happen to sell polaroid instant camer cameras, we cannot stock them fast enough. Stuart i can still buy a polaroid camera giving me the instant picture. I can still do that . Absolutely. Hopefully we still have a few left. Stuart is it the same technology as before . We have a digital form of it, and the other one we sell refurbished, the one that opened up just like this. Stuart i remember those. How much . The smaller ones go for about 80. The larger ones going up to 300. Stuart thank you very much for joining us. Your take on the entire show is next. mother vo when i was pregnant. I got lots of advice, but i needed information i could trust. Unitedhealthcares innovative, Simple Program helps moms stay on track with their doctors to get the right care and guidance. anncr vo thats health in numbers. Unitedhealthcare. By taking control of the senate and keeping control of the house we can slow this administration down. Right now we dont have the ability to slow this administration down or slow this president down because of harry reid. Before you can reverse the trainee must stop and before you stop the train you must slow it down. Stuart that was herman cains take on what it will take to turn around obamas failures. What your take on the rest of the show, brad had this to say about the amazon smart phone, they are not using my carrier. I think the carrier will be another . Lisa shared these thoughts on gm. My grandfather worked for them for a long time and always spoke so highly of the company. It has changed terribly. If my grandfather was alive today he would not be happy. As we said earlier, the hearings are over, no impact on the socks, mary barnesa took a hammering and it will. Liz her staff is saying the new normal, quicker disclosure about recalls. I tell you one thing about the stock, it is still hanging in where was pre crisis so it is pretty much flat all these years. Stuart she is addressing reporters in the next hour and may Say Something more. That is it for us. Here is dierdre bolton. Dierdre thank you. You have been covering it is the fed day, wilbur ross is with us, telling me how centralbank decisions are affecting his investments. Going straight to the source of out and, by passing the new board going directly to shareholders, 53 billion hostile bid. Amazon may release its first smart phone powered by android later today. We will tell you which features augment to get you to buy it. With more on amazon and getting into this highly competitive market. And the hands that business is called for a. Highflying brands like nokia, motorola, blackberry, all shadows of their former selves, a huge market share cuts in the past few years. Jo lin kent with us from