Transcripts For FBC Varney Company 20140926

Troubles are entirely manageable and they have been whipped up by social media hysteria. The selling pace for its new products very strong, if profits will be huge and apple remains king of cool. Added allah and the stock price below the one hundred dollars looks cheap to some. We have both sides of this one. Here is a friday morning bombshell, a revolution and the Biggest Bond Fund in the world. Varney and company is about to begin. Stuart it is friday, a busy morning. A lot going on. Here is what we are following. The bond king. Bill gross has quit his company after years of truly vicious internal fighting. This is where business gets personal. The battles were savage. Charlie gasparino brings his own special reporting later this hour. Bill gross is going to janice, that stock is soaring on that news, 30 as of right now. The final numbers in for the economys performance april through june, annual growth 4. 6 . Will it last . Something really serious. Airtran. New reports president obama is considering giving a big break to its nuclear program, letting iran keep half of its Enrichment Program. Sounds like we will accommodate an iranian nuke. That is a very big deal. A fire at an air Traffic Control center in chicago delaying travel at chicagos of hair and midway airport, it started by a contractor. More than 850 Flights Canceled at chicago last week to major airports. The top of the show i mentioned some people believe apple believe apple is the screening by. Make the case at appleby low 100 a share is a screaming buy. They have fantastic profit margins. The apple 6 sold 10 million in the first weekend. Little problem with the update we can talk about a second. Twice as many as they sold two years ago. You guys make more money on assets than anybody in the business. Iphone 6, monday, a fabulous phone. Maria we have to say goodbye because you have an Audio Program but we get the message. It is streaming by at 99 a share. Michael said it will go down to a lease 142 a share. That will put it at 1,000 a share presplit. John wayfield joins us from bermuda. You say it is not a screaming buy. I dont believe it is. I agree with everything michael said except it is trading near an alltime high, a 52 week high, for the first time apple made some stumbles. Having problems with their phones, a lot of negative publicity, a problem with the operating system. I think there will be a pullback on this stock. Is a great company. They spin off 56 billion a year in operating cash flow, only trading 14 times future earnings but you get this cheaper in the next couple months. Maria how was the guy who told my kids i am not going to buy apple at 57 a share way back when so i no position to take sides on this but am i right in saying you would buy apple if it came down a middle . You would buy it at this point . Absolutely. This is one of the most Profitable Companies in the world. They have incredible products. The watch has not taken off yet. They figured out the ipad when they brought it out. This is a great company. Darrell retraining 14 times future earnings, less than microsoft foremost Tech Companies and this is one of the most Profitable Companies in the world. Stuart the greatest Technology Company in the world bar none. John wayfield back to the beach. Why was apple stock been down in the first place. Problems with the new i o s 8 operating system, have to pull an update on it. They have a software fix for it just in. And a few scattered reports from the web that the extralarge iphone 6 plus can bend if you sit on it. You laugh but that was part of the problem with taking this i think it was whipped up by social media. Clean morris, the tech guru on this program. These sound like minor problems and fixable problems to me and i dont think they will get in the way of huge sales. I totally agree. We saw apple released their new i o s 80. 1. The first of the to the operating system. These rolled out a week after a big launch to fix some bugs, add some new features, things millions of people have in their hands. They test these with thousands of apple employees, it was the beta release. They pulled back the Software Update because people who had the new iphone 6s and 6 pluss and cellular issues and for dropping calls and able to log in with fingerprints. Stuart we fix it overnight. We downloaded it last night and it is working to minor issues. Stuart a picture of the bent iphone. This is a legitimate speech issue, when we set 40,000 people sit and get calls with new devices. Apple admitted only 9 people have come to an apples to 0 with a bent iphone issue. If you stick your i phone in your back pocket a large piece of glass and set on it with your rounded but on a hard bench surface, you are likely going to break it. It is absurd. Stuart listen to this one. You are familiar with John Williams . You are going to be now. He is a midlevel apple executive in charge of Quality Control for apples failed maps rollout. He is also being blamed for problems with the i o s 8 operating system. I wouldnt want to be this guy. We know what happened with scott after the debacle of the mass rollout. We can only wonder if this involvement, i would love to be in the room with a tested i o s 80. 1. How did they let this out the door . How did they say we tested on all these devices, how do we let this out the door, flip the switch some millions of americans can download it . We saw the mess with maps. That is largely fixed, they have done great jobs fixing all the problems but to be at the helm of that ad have the same issues, it wont be a good weekend. Stuart the greatest Technology Company in the world. Can you name a better one . Stuart you dont comment on the stock price of future stock price but under 100 a share the question is is it a screaming buy . A lot of people will say yes. Next month, new mack. It will be of good holiday for apple. Stuart when you stay right there because i have more coming from you later. We have one money manager and later on a program whose says he is extremely bearish on apple. He says the stock is going down to 80. Not quite a screaming buy as 9957. He will make his bearish case top of the our next hour. Stay for that. Check the big board. That is about that of sorts after the 200 point plus selloff yesterday, biggest since july. The s p 500, that is up, the ten year treasury yields going up 2. 5 . We have the s p 500 up 0. 3 , that is a sort of bounce back. The nasdaq trades down big time yesterday, dragged down heavily by apple, bouncing back today of 0. 3 , 0. 4 , a 17 point gain. Where is the price of gold . Very little change, still bouncing just above 1,200 an ounce. We are down 5 today. Strong profits, very strong profits at nike. Everything worked. Up it goes, 10 up on nike. That is a move. We will talk to the man who but Michael Jordan in his first pair of nikes in 15 minutes, athletes behaving badly. A lot of updates on isis we are bringing to you. A dollar no. First of all on the air strikes against them, 10 million a day for the Bombing Campaign is the first dollar number we have seen. Very low to me. Isis has executed a female civil rights lawyer, she was killed by firing squad. New reports that president obama is considering giving a big break to Irans Nuclear program allowing them to keep about half of their Enrichment Program going in exchange for their help against isis. We first brought use this each with ambassador john bolton. He joined this week to week ago. Listen to this. Isis is a terrorist organization. We should destroy it at our first opportunity but they are nowhere close to getting nuclearweapons and iran is and that is the definition of an existential threat. I dont see the president understanding that iran is never going to be cit chatted out of its longterm goal of becoming a Nuclear Weapons state. Stuart wall street Journal Editorial Board member mary kissel is here. That sounds ominous to me. The threat of a bomb being gotten hold of by the iranians to me is far more serious and far more anxiety than isis quite frankly. The Obama Administration never intended to destroy iran at nuclear program. They wanted to freeze it, push it to the next administration. The chief negotiator told voice of america person and not so long ago in the last few days we are making progress with iran. Progress towards what . John bolton is exactly right. Iran is a state sponsor of terror. The head of the Security Apparatus in iran for two decades, he cheered the crackdown on student protests in 1999 and a couple years ago. Seize the two faced guys. You cannot trust them. Iran is an existential threat to israel but also a threat to our interests in the region. Stuart straighten me out technologically. If they keep half of their Enrichment Program the only point in enriching uranium is to build a bomb. As no other functions. Stuart we never ask them to get rid of the Enrichment Program. We want to stay to iran, x amount of capability in these inspections. And International Inspectors having trouble getting in there. It is insane the Obama Administration would negotiate with people like this and put our friends and allies at risk. Stuart back in a moment, here is another anxiety ridden headline for you. We have a software bug that allows hackers to take over your computer. 70 of machines are vulnerable. We will deal with that with Clayton Morris stuart it looks good. Dollars of 78 and i got to tell you nike is stock. Nike has gone straight up and 90s game accounts for 55 of those 78 points on the dow. Where is the price of gold . Still around 1,200, how about will . Where are we . 93 exactly blue seems like all we talk about these days is avalanche samsung but Nicole Petallides is here. She will tell us about blackberry. Nicole that nice blackberry, stock is a big move, talk about shares, 6. 7 gain for blackberry, as they came out with their numbers. They did see revenue falling 42 . The losses that they saw narrowed to 207 million from 965 million. Isnt that better . You only lose 200 million. That is good. Some people are even saying the turnaround is working and evidence of that would be the new passport that came out this week, the new fun. Its keyboard is why theyre so they said particularly for doctors who need more characters for lines, this might be a good one and they aggressively priced at 599 find to be out apple which you mentioned and samsung which you mentioned, supposed to start at 50. Stuart i have been covering the stock market for 40 years now. A long time since i saw company lose 200 million, have its revenue decline by 42 but because that was better than expected, it doesnt 10 . I try to be an interpreter but not sure i can interpret that one. Good story, thank you very much. We got Computer Security experts warning of the new bug that could put millions of peoples private Investment Information at risk. This one is called shell shock. Effects computers using software for the mac or lennox operating system. It could allow hackers to gain complete control over your computer. That is the point. Got that news story. I want to go back to this date a breaches and retailers. I had to cancel all of my mastercard accounts because of this. I want to know, if i use apple pay on the iphone 6 july avoid these problems with sliding my credit card . One of the big stories that came out of apples lunch, remember the target breach around christmastime . If you using apple pay this wouldnt have happened. Hackers were able to break into targets system and get access to those credit card numbers. They were able to run up your credit card and call fraud and get access to other information about you. Now with apple pay target will not have the credit card number because it presents a random noon number with every purchase. Stuart i am still using a credit card through my apple iphone 6 the target or any other retailer doesnt get the number. They will know when you purchased. They wanted use their Demographic Data to say you are buying birthday cards or whatever but they will not have the credit card number. Mastercard is putting out a 16 digit random number for that purchase. It disappears into the ether, next time you make another purchase you get a new numbers so yes, you take a photo of your credit card to put it into your phone but you will not have the state of reaches, this issue that you have with home depot and target. Stuart is there any other similar system to apple pay or a sample pages way out in the lead on this . I could see that as a huge, very big selling point for the i phone 6. Similar Services Made some nice in roads, square has done some interesting things. Paypal has done some big movements toward security to fix security holes that paypal has experienced but no one has had a big mover advantage of getting on Companies Like walgreens and target and big retailers to support this new technology and all the banks were on board. Mastercard, American Express, bank of america, they said we are on board with it. Stuart when you got the iphone 6. There was a line of people outside the studio when you brought it into the studio, they wanted to see it. Then the pope is shaking hands. Do you use the pay system . I tested it at the apple event, got a chance to dive through. Really phenomenal. One of those pieces of technology that comes along every few years, how does that work . It doesnt roll out until october, early october. Stuart can stock on the screen. Has a regional one hundred dollars a share, have we talked this up . We have an hour and 39 minutes left on this program. See what we can do. Derek jeter, gamewinning hit last night in his final appearance at ec stadium. A story book ending. Tried to explain that next. Takes it to right field, and it is steady. The single. Stuart there you have it. Jerrod gene blairs final performance in yankee stadium. Not everyone is in awe of that, listen to what Keith Olbermann said about the derek jeter height. The captain of the yankees. Jeter is the king of the new york. I forgot. That must be reality. If true they wouldnt printed on his shoes. Stuart oh keith. One of our viewers tweeted the response to Keith Olbermann and heres what he had to say in return. He tweeted sadly my old friend, i have known you for many years, jumped the shark in 1984. I am still confused about exactly what that means but we did ask our social media pages whether or not you thought i had jumped the shark. A couple comments from our social network pages. Linda says the fact Keith Olbermann is still on tv and people watch him as a testimony to the stupidity of humankind. Joseph agrees with Keith Olbermann and tweets these jeter zealots are amazing. They wont even consider that maybe jeter isnt as good as they think with mary kissel is still here. Dont pass judgment on jeter. Try not to. Did i jumped the shark. It is sad that Keith Olbermann cant celebrate, and i dont follow his statistics religiously like my colleagues do but he is a classy guy. In some respects he is exceptional because he is so ordinary, a decent guy. What it says to me about society is standout to the degree that he does. Stuart brilliant baseball player, decent guy. Who would have thought . What is wrong with that . Nike stock is a huge winner, reported higher profits. In the background to the nike story is a mess made by athletes behaving badly. Nike has recently terminated contract with adrian peterson, ray rice, a Oscar Pistorius over domestic violence. Joining us by phone is sunny c bacca baccaro. Theres a distinction to be made here between endorsement contracts which you can lose if you behave badly off the field versus playing contract which are good no matter what you do. There is a distinction. Very big distinction. Realizing the contractual obligation especially in the last ten years, they did the legal contract for the company to the fire. Stuart when you negotiate contract with a sponsored theres almost always that bad boy clause in it these days, correct . These days that is the correct phrase. Way back in the 80s and 90s, way back, there werent fees kinds of feelings. First of all the athletesnot like things didnt happen bad to athletes on the playing field. But they were more not covered as well. They would come and go. Today a stories at has been hitting the last five years are egregious to even some most in sensible person because they are magnified to the point everyone knows about it so the company has to protect themselves. The biggest weapon we have for the companies and for the fans are corporate entities whose sponsor these athletes and these teams. Stuart these bad boy clauss is a good thing in your opinion because it tends to control the behavior of guys who might get out of line off the field. Hold on a second. Quick comment. Isnt it sad these clawss have to be in there at all. How are these guys raised . Where are the wives of the husbands and managers and coaches . That is a valid point a few take it in the context of what i said. Things have changed so drastically. It is not like there were not bad guys playing football before, baseball or basketball. They were not as acknowledged publicly because of the immediate and we know there were an egregious turns taped consulate all comes from how it begins, what was your environment. Any complex what i have seen is the public has become aware. We still have part of the public that accepts whatever is this egregious thing is and there have been many but you are right. It starts all long time ago. It didnt start yesterday. Stuart you know what you are talking about and appreciate you being with us. I enjoy these little talks. Stuart attorney general eric holder out. You know what that means. We are probably years from getting any answers on the irs targeting scandal. We will talk to one of the lawyers representing those targeted Tea Party Groups next. He has been dropping hints for a while that he wants to go and while i share and julian in much of the criticism of him i think he is probably going on his own timetable. How much money do you have in your pocket right now . I have 40, 21. Could something that small make an impact on something as big as your retirement . I dont think so. Well if you start putting that towards your retirement every week and let it grow over time, for twenty to thirty years, that retirement challenge might not seem so big after all. I wish. Please, please, please, please, please. [ male announcer ] the wish we wish above all. Is health. So we quit selling cigarettes in our cvs pharmacies. Expanded minuteclinic, for walkin medical care. And created programs that encourage people to take their medications regularly. Introducing cvs health. A new purpose. A new promise. To help all those wishes come true. Cvs health. Because health is everything. Watch this. Sam always gives you the good news in person, bad news in email. Good news fedex has flat rate shipping. Its called fedex one rate. And its affordable. Sounds great. [ cell phone typing ] [ typing continues ] [ whoosh ] [ cell phones buzz, chirp ] and we have to work the weekend. Great. 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Up 4. 6 at an annual rate. Apple shares. They are bouncing back after the selloffs. What is not at 100 yet. He joins us at the top of the hour. No gross is leading Charlie Gasparino will join us. Why is this such a big deal. One guy moves. Shifts. Why such a big deal. Check go pro. It hit a new high. New details. Upcoming hero for black action camera. This thing can record ultrahigh death for k video. First go pro video to have a full touch screen here and the rumor mill says it could go on sale october the eighth. Attorney general eric holder stepping down. Eric holder is the most divisive u. S. Attorney general in history. Eric holder admitted to justice as the political coal activists that he describes himself as. By needlessly injecting politics into law enforcement, attorney general holders legacy has more comments in our legal industry. Any before him. Doesnt this imply that there will be a delay in any resolution of the irs scandal because the Justice Department is in charge of it. Now there will be a new guy. Probably until after obama leaves office. He did politicize and agree with our congressmen. It really took a lot of heat from president obama. President obama is sad to see him go. He took so much heat from congress. Controversial i think ultimately we will not have an attorney general attorney general work placement that is like eric holder in the sense of the confidence the president would have in them. Stuart do you really think that a replacement for eric holder will be appointed who will actually put out a special investigator investigating prosecutor to get to the bottom of the irs scandal . Do you think that president obama would nominate such a person . I would not hold my breath on it. This will not be something you are used to. This nominee will get through before the election. That is what they want to know about. They see the delay and the stonewalling on and off. Do you think that by the time president obama walks out of the white house january 2017, you think we will have gotten to the bottom of this scandal . Lawsuits that are in federal court that they cannot do that from moving forward. It will not be because of this department. Stuart sorry it is so short. We have a big day today. New study on millennial winners. They will only get married if they are partner has a fulltime job. Many men cannot find work. That is next. Ness with startupny. An Unprecedented Program that partners businesses with universities across the state. For better access to talent, cutting edge research, and state of the art facilities. And you pay no taxes for ten years. From biotech in brooklyn, to next gen energy in binghamton, to manufacturing in buffalo. Startupny has new businesses popping up across the state. See how startupny can help your business grow at startup. Ny. Gov agent ill walk you guys through every step. There are a lot of buyers for a house like yours. husband thats good to know. 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 advances. Maria we are still lower. The dow is up 48 points. The nasdaq composite gaining 12 points at this moment. Take a look at nike. Looking at ames related to that. You can see their stock is up 11 . Under armour is an upgrade to a buy. Finish wine lost some profit. A different picture there for that one. The fourthquarter reports did beat the expectations. Much more varney and varney us Company Coming up on fox business. Take an idea and make it happen. Im janet long and i formed my Toffee Company through legalzoom. I never really thought i would make money doing what i love. We created legalzoom to help people start their business and launch their dreams. Go to legalzoom. Com today and make your business dream a reality. At legalzoom. Com we put the law on your side. Hi, are we still on for tomorrow . Tomorrow. Quick look at the weather. Nice day, beautiful tomorrow. Tomorrow is full of promise. We can come back tomorrrow. And we promise to keep it that way. Driven to preserve the environment, csx moves a ton of freight nearly 450 miles on one gallon of fuel. What a day. Cant wait til tomorrow. Stuart look at netflix. Dust releasing movies and tv shows they are adding and dropping next month. Law and order. Jo ling kent and Laurence Simon at eight will weigh in on this. It drops law and order. Just the nature of the cycle. They are dropping things like a league of their own and law and order sbu. This is a really long list. Stuart law and order. Major league. Hunger games. That is what it is all about. They released orange is orange is the new black all at once. No impact on netflix is doing just fine. You are still binge every weekend. More Millennial Women now say they would only get married if their partner had a steady job. 82 of men have a city job. That was in 2012. It was 93 in 1960. We have assembled a panel of our own to weigh in on this topic. Charlie, to you first. Women want a guy who has a steady job. There is not enough work. What say you, charlie kirk . When you look at a marriage when it pertains to people that are 20dirty, i think we also need to take into effect that more junk people are living together. Women, young women are saying, well i may be able to find a really good looking guy, but he needs a job. Stuart is this a part, the part in the declining rate, down to the 1920 levels. In order to keep up these days and have a family, you need to incomes. The woman needs to work in and to does need a man with a steady job. Companies are always cutting workers. As we move forward, the millennials will be single until their mid 40s and mid 50s. Could you imagine . Stuart economics drives this thing. Part of the reason is more and more people feel like they have the freedom to not get married. What is very interesting to watch is housing, cars. Stuart it is a negative impact on things. Sure. Stuart suppose we have four, five, growth rate. You think that would turn things around culturally. Absolutely. It would add certainty to a lifestyle that young people are living right now. Uncertainty is probably amongst the millennials. Young people are really hesitant to get married. Tens of thousands of dollars of Student Loan Debt. They are just putting it off and putting it off. Economics can be the driving force of a cultural change for young people. Stuart ladies, gentlemen, thank you very much for joining us. The sheriff bill gross leaving and joining janice. A very big story in the business world. Why would you care . 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And learn more about the kinds of plans that will be here for you now and down the road. I have a lifetime of experience. So i know how important that is. Stuart that is janus quppercaseletter. Leaving and heading over to janus capital. Charles gasparino is here. Why should i care . You care if something happens with the fed. After that, these guys are pretty important. If they have to liquidate massive positions, guess what, odds go down. The amount of money you are paying for a new mortgage is higher today. Stuart you are kidding me. Is that right . Wow. He runs the Biggest Bond Fund in the world. They are planning for a potential freak out. This lady needs extra money. The bottom line is this. That is why you saw bond yields strike. Stuart the bond fund, isnt that a favorite . One of the best for many years. The other part is the injured behind the other scenes. They were fighting for the better part of the year. Management owns it. Bill gross wanted to run this forever. That is why i do not believe that tomorrow was a due date. They wanted him to pick a successor. He may have been fired tomorrow. He had the job lined up. This was a long simmering could view. Stuart remember, this is what happens. He created the company. He is working for the germans. What do you expect. You are 12 seconds over. The United States, is it opening the door to a nuclear iran . We are dealing with it at the top of the next hour. The Supreme Court, say it is not so. The second hour is two minutes away. Thats their game. The flights you want are blacked out. Or they ask for some ridiculous number of miles. Honestly, its time to switch to the venture card from capital one. With venture, use your miles on any airline, any flight, any time. No blackout dates. And with every purchase, youll earn unlimited double miles. From now on, no ones taking your seat away. Whats in your wallet . Stuart headline on fox news. Using the mans on iran. Your money is at stake on this one. President obama would go easy on irans push in return for help with isis. The report says iran will be able to keep half of its uranium impact. Looks like president obama. That is a very big deal. Isis is a terrorist organization. No dow about it. They are nowhere close to getting Nuclear Weapons. Stuart john bolton on this program. Two weeks ago focusing the issue. President obama wants help from isis. It sounds like the president is easing the way to accommodation of iranian nuke. Is that the way you are taking it . We have seen india, china, south korea, all buying oil by waivers of the white house. This is really ridiculous on how we slow world the process. They control the terrorists. We will calm down these terrorists that we control if you give us a better nuclear deal. It means that they are not owing to dismantle the centrifuges. That is like taking your coffee pot, unplugging it and saying i should no longer make coffee anymore. Stuart in iran and nuke is now an inevitability. They certainly have the wherewithal. They have the expertise. Whether or not they are able to take all the expertise into one, that is the issue. That seems to be what the Obama Administration wants. We will allow iran to do these steps. You have to believe that the un will be able to identify that iran is putting the pieces together and do something about it. I do not have faith in either one of them. Stuart this is a very, very serious issue. The whole ballgame changes, doesnt it . Everything changes. The world number one funder for terrorism for decades. You have to understand that these guys are responsible for much of the terrorism. We are being represented by Wendy Sherman who told us all with korea would give up. She has a long history of being hoodwinked. The iranians are going to unplug and watch them or the un will be able to watch them. This is a bad deal. Obama is desperate. Stuart i just cannot imagine what the mideast looks like. Richard grenell, thank you for joining us. We appreciate your input. Thank you for joining us. We are up 64 points. If it was not for nike, this market would be just about flat. Fifty of side points for the dow. It is up 10 . A terrific quarter thanks in part to the world cup. Holding the dow in positive territory. Where are we with that one. A big drop yesterday, of course. We follow this very closely. Of and down almost every day. Bill gross, we have been hammering this one. Major story from the boardrooms of corporate america. This is a very big deal. I see the traders jumping in first. Look what is going on here. Janus Capital Group is the biggest one ever. In the meantime, one of those funds, oh, no, seven and a half percent. They have plenty of liquidity for anyone that will cash out. We have Charlie Gasparino on talking about plans. Stuart that is a big deal. It is worth 2. 3 billion, by the way. Look at apple, please. Is apple a screaming buy below 100 a share. Ed has an answer which is a screaming no. Apple will go down to 80. Make a case. Everybody says that you just by apple. It is just a nobrainer. Most of the growth will come from outside the u. S. When that stock hits, computers will kick in and they will drive that stock down. There is so much competition around the world. If you believe apples growth will come from outside the un, they are almost nonexistent. A lot of companies will jump in and compete with them. I will be very cautious about buying apple. Stuart fantastic audits. Very wellreceived. The problems that have occurred on minor and easily manageable. This thing is doing 140. Here we come. Flat out on this day, september, it is going down to 80. You have the last 20 seconds. At some point, that stock could go a lot higher. It is the consensus on wall street on the high target price. A lot of people come on that show. You are just doubling down. Stuart thank you very much indeed. Good stuff. Coming off at 2 00 p. M. Eastern. Melissa francis. She poses this question. Is apple in a panic mode . They are leading the media inside apples testing center. Would steve jobs do that . That is our next hour with melissa. A fire to an air Traffic Control system in chicago. Jeff flock is there. How bad is it . You are lucky you are not traveling here today. It is very eerie out here. No planes overhead anywhere. Maybe you see inside here what it looks like. The lines does go on wherever. It controls a High Altitude flight. It is passed off from the local controller. That is where the problem was. There was a contractor that set a fire there. This is what it has brought. No report on when this will resume. Southwest has shut down operations. I looked out for it. They canceled flights. No word on whether that air Traffic Control facility will open anytime soon. This will keep on giving for a long time. Taking a look at the boards over there. Boy, it is a mess out here. Stuart you summed it up pretty well. Having chicago shut down like that is really, really bad news. Attorney general eric holder is out. That has some people saying that he got his weight two. Congress men mike kelly is on his way. I do not want to shock you. There are people saying eric holder could be a future Supreme Court nominee. What do you say to that . The American People are pretty much understanding. They are looking at this. We see this action before. They all do something different. What he will do is what he has always done. Probably the worst. The idea that he could not answer a subpoena, they do not have time to look at it right now and we will get back to you . Dont ever expect to get back callback. I do not care how much. Stuart thank you very much for your input. We have an audio problem with the sound quality of your phone call. We got the message loud and clear. Thank you for joining us, sir. Appreciate it. Time for justice. Being indicted for fraud. Coming up next, try and kill me chimes in on derek jeter. He is a great athlete because of what he did off the fetid. Whenwork with equity experts who work with regional experts who work with Portfolio Management experts thats when expertise happens. Mfs. Because there is no expertise without collaboration. Hello. You can go ahead and have a nice flight. Re. Music plays music plays traveling can feel like one big mystery. Youre never quite sure what is coming your way. But when youve got an entire company who knows that the fewest cancellations and the most ontime flights are nothing if we cant get your things there, too. Its no wonder more People Choose delta than any other airline. Stuart wait until you hear this one. Argentina using drones to catch tax cheats. My jaw dropped when i found out about this. What they are doing in the rich parts of boy knows ras is flying drones over the rich people and counting their pools and mansions. It is equal to 2 million that the government is not getting. It is a small chunk of change. I think most people would say it is inevitable. Zero privacy at this point. You cannot lie. I am not surprised by this at all. If you have a real tax cheat problem, it is like greece, for heavens sake. Feedback the video and check that too has a pool and two has a mansion. It is kind of inevitable. Testing the crops for drug smuggling operations. Make sure you are good on your taxes. Stuart derek jeters last game at kinky stadium. Bottom of the ninth. He hit the game winning hit. He is coming to the plate. The run scores. It was derek jeters hit that made the play. The gamewinning play. How did i do . It shows you are a true baseball fan. It is just unbelievable the way that game ended. They were up fivetwo in the ninth inning. They tied the game up and then he wins it again. Jeter, do you think that he deserves the status that he has . Eyewitness debt from 95 when he came up and looked nervous. Then 96. All those championships in a row. They still liked him. They still keep in touch. The kids like him. The guy always has a smile on his face. Stuart this is a financial program. Let me get to the money angle here. The first full year in the majors. 136,000. His highest salary was in 2010. 22 million. Grand total of more than a quarter billion dollars just in salary. That is an extraordinary amount of money. Keep in mind, you mentioned something very interesting. The yankees went back and said we are paying you less. Go check on the league. Then you can come back to us. That is a very cocky way. It really happened. Stuart that is called a market rate. Listen to what joe torre had to say. We need a role model and our so psyd. Derek jeter has been so good. He never had the greatest ability. He just went out there, showed up at work every day. Stuart entertain the fans. Donate you want tell me that derek jeter was the most warring sports interview on the planet . He has tight lips. We have not seen anything that compromises his key. We have to go out there and try every day. That is my problem. It is not his problem. He always turned around. He always answered the question. That y locker field was always a minefield. [laughter] stuart he was always kind. 1221 eastern. Are you staying for the rest of the show . Let me talk to my people. Stuart i am breaking into this. A letter to yahoo s board suggesting a Strategic Partnership with aol. Yahoo is up on that news. Dont look now, gas prices could give out 3 a gallon. That is good news. We will bring you the full forecast in a moment. Know that chasing performance can mean lower returns and fewer choices in retirement. Know that proper allocation could help increase returns so you can enjoy that second home sooner. Know the right Financial Planning can help you save for college and retirement. Know where you stand with pnc total insight. A new investing and Banking Experience with personalized guidance and online tools. Visit a branch, call or go online today. No. Not exactly. To attain success, one must project success. Thats why we use fedex one rate. Their flat rate shipping. Exactly. It makes us look topnotch but we know its affordable. [ garage door opening ] [ sighs ] honey, havent i asked you to please use the we dont have a reception entrance. [ male announcer ] ship a pak via Fedex Express saver® for as low as 7. 50. [ male announcer ] ship a pak via Fedex Express saver® are we still on for tomorrow . Tomorrow. Tomorrow is full of promise. We can come back tomorrrow. And we promise to keep it that way. Csx. How tomorrow moves. What a day. Cant wait til tomorrow. An Unprecedented Program arting busithat partners businesses with universities across the state. For better access to talent, cutting edge research, and state of the art facilities. And you pay no taxes for ten years. From biotech in brooklyn, to next gen energy in binghamton, to manufacturing in buffalo. Startupny has new businesses popping up across the state. See how startupny can help your business grow at startup. Ny. Gov when the world moves, futures move first. Learn futures from experienced pros with dedicated chats and daily live webinars. And trade with paper money to testdrive the market. All on thinkorswim from td ameritrade. Stuart breaking news from britain. The parliament there has approved airstrikes against isis in iraq. Not syria. Iraq. It was an overwhelming vote. 524 to just 43. Nike, the stock of the day propping up the dow after reporting strong profits, up 10 . The dow would be virtually flat without nike, a dow stock. Charles payne digging into whats driving the company . Women, Online Shopping and training plus. Thats the online app. Charles breaks it down on making money at 6 00 p. M. Eastern on the fox business network. The average for a gallon of regular, 3. 34 overnight. Here is scott from chicago. Gasbuddy. Com says about 30 states will have below 3 a gallon gasoline by the end of the year, is this part of the big selloff, the big price drop for Oil Commodities . You know what, youre reading my mind, stuart, it absolutely is. I have been on before and said we have the commodity indices at four and five cycle lows, which does not bode well as an economy as a whole. Wouldnt you think we have a much better gdp print or economy growing at a faster pace or a 10year rate above 3 . No. Were having gas prices go down at the same time the economy is, and that is something old Commodity Traders like myself tell you, the old Commodity Prices can be the canary in the coal mine about what we have going forward. Stuart do you think there is a possibility of deflation . I do. That is something we should be concerned about. We might have a shorter time than japan. Were playing the japanese script right now. Stuart ouch. Come on back soon, scott. The ryder cup is under way, america versus europe. The last ryder cup in 2012, record tv ratings. Come on, in golf data tech, chris. Hello. Hello, stuart you. Root for your country, not individuals. Thats a very different thing in golf, isnt it . It seems to be a huge winner, certainly for tv rating . Truly a unique opportunity for golfers to participate as a team. Most of the time theyre individual, and then you add in the fact that this is representing your country and becomes a huge excitement factor beyond just the golfer. Its people who are interested in the United States or interested in europe also join in and watch and drives tv ratings to very high levels that you dont see on a weekly basis. Stuart thats great for the sport, i dont play golf but follow it very, very closely. Im not sure i can get behind nationalismnto golf, and not sure i want to go out there and cheer for the brits or cheer and for the yanks. Id rather cheer for a mickelson, an individual. How do you feel about nationalism in golf, really . How do you feel . If you paid attention and you go to it gives you goose bumps. Hard not to be excited about it as a golfer or nongolfer who just enjoys watching compelling tv. Stuart watch out, john, Brian Kilmeade is with me, hes got an opinion on everything, im sure he has an opinion on this. You could have said i have a strong opinion. Rickie fowler picked usa, he grinded it into his hair cut. Problem is maybe the golfers dont dislike each other enough to get the rivalry going, but the fans do, and once it start us and look at team mate, you are pulling for each other. And golf longs to have, its a lonely sport, they long to feel like they belong to the team. Stuart update on the score, 3 1 2 to 2 1 2. Come back, in john, europe, 3 1 2, the yanks 2 1 2. What do you make of that . Well, its early, theres a lot of golf left, but certainly the americans got off to a good start today, then this afternoon, because its played in scotland so this afternoon, theyre struggling a little bit. Stuart well, its going to remain part of the united kingdom. Pleased to hear scotland is hosting the ryder cup. Strong opinion kilmeade, go. Four of the top players in the world are from europe. Thats the problem. Stuart thats a problem . The first time as underdogs, see if they can rally and make it happen. Why golf is not in the olympics, i dont know. Its made for the olympics. Stuart its going into the olympics. Going as experimental port. Its the most natural sport, period. Its a truly world game. Stuart are you watching tomorrow morning . Ryder cup . No, im going to be at the soccer field watching 11 and 13yearolds play soccer. Stuart your sons . My daughters. Stuart Emeril Legasse sounding off on the lacking economy. Well tell you about it in a moment. vo you are a business pro. Solver of the slice. Teacher of the unteachable. You lower handicaps. And raise hopes. And you. Rent from national. Because only national lets you choose any car in the aisle. And go. You can even take a fullsize or above, and still pay the midsize price. pro nice drive. vo well played, business pro. Well played. Go national. Go like a pro. 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. Stuart i want to bring you a quote from celebrity chef emeril lagasse, sounding off on this economic recovery. He doesnt like this. Listen to this brian . Does that ring a bell with you . By the way, hes a middle class restaurant. Im sure he has highend place in new orleans, the one i went to is middle class. If you lose the middle class, i cant afford to eat out one week or two, hes totally screwed. He told his company for 50 million, so hes not worried about his next meal. About reading about it and talk to people, hes concerned about opening new restaurants and the regulations involved, in terms of growing the middle class, thats the next president. The president who figures out how to grow the next middle class, this president is blaming the last president for not growing the middle class. Stuart interesting to hear from a guy like that with feet on the ground in expressing a opinion about this economic recovery. In a blue collar way. Stuart exactly. Check the share price of janus capital, way up today, pimcos founder bill gross is going to join janus capital. Referred to as the bond king, jumping ship from his place, pimco, going to janus, up goes janus, this is a big story, behind the scenes stuff. We are 39 days from the midterm elections, so which issues are prominent . Is it the economy . Is it obamacare . Is it terror . Is it immigration . Which of these would you pick. Former clinton adviser doug schoen is with us. You put all the issues on the screen, i dont think the gop is attacking on any one of them. Stuart, you couldnt be more right. The president has Approval Rating below 40. Thats clear. People want change, equally clear. What you said to me is the key point. There is no republican counternarrative and, hence a lot of senate races they should win are still in the balance, hanging in the balance. Stuart the republicans retreat from the field, hoping that the democrats will just fail under their own terms. Retreat . Theyre off the battlefield. Again, what brian was saying is critical. There is a middle class in this country is hurting. What theyre saying is democrats, republicans, whats your agenda . They know with obama its not working, they know its big taxes, big government. There is no credible republican alternative. Stuart do you now think that a republican sweep of the senate which looked likely two weeks ago is now in doubt . It is in doubt, im not suggesting that it isnt going to happen, im suggesting its about 50, 50, 5545, the republicans win the seats in the senate. Stuart i dont see them saying looking at the economy, look at obamacare, look at this, look at that. It doesnt exist. The people brian was speaking about are not ideological but Bottom Line Results oriented. Would you say this, doug, paul ryan with the detailed budget plan, what he wants to do to restructure the tax system and you have simpsonbowles but the leadership with the republicans, i sense from talking to them on camera and off feels as though we got this win, just dont drop the ball. Why take the risk and risk being vilified because the democrats are so good. Dont say anything because you might put your foot in it. Dont fight minimum wage, dont say anything about equal pay. Lets keep on not being president obama. Stuart are you advising the republicans, doug . Is that what you mean . Sabotaging the republicans. If you listen to me, not what youd be against, what theyd be for, theyre not for tax cuts. Theyre not for a progrowth, profamily policy. Theyre not standing together for a strong Foreign Policy to fight terror and to deal with issues like immigration. Theyre not on record. Stuart how about this, almost a slogan for republicans, prosperity, and security. They didnt give it to you, we will. Precisely, prosperity and security now. Now what you do with the other 50 minutes of the debate. Wow. Nice line, stuart. The guy next to you wants to know your plan. Stuart how much do i charge for conservatism like that. Heres a pay raise. Stuart still a democrat, doug schoen. He has a new book out, by the way. The axis fighting america. Stuart why are you promoting his book . He was on the show. Stuart did you sell 600,000 hardback copies of your book. Were out against the break. Stuart how . Its not about education, its about the people. Stuart thank you very much, you got that promo in. Millennials not getting married. Theres two reasons for that, the economy, two, half of them have experienced divorce, ouch a divorce lawyer on this, nex next. I think theres another layer to the marriage fiasco, if you will, thats that millennials have grown up in a culture where 50 of marriages end in divorce. Weve seen our parents get divorced, not me in particular, but millennials have. A lot of millennials are jaded by the economy and the institution itself has failed. Thats what theyve seen. Hey, how you doin . It hurts. This is what it can be like to have shingles, a painful, blistering rash. If you had chicken pox, the shingles virus is already inside you. 1 in 3 people will get shingles in their lifetime. I wish that there was something i could do to help. The shingles rash can last up to 30 days. Talk to your doctor or pharmacist about your risk. I have 40,ney do you have in your pocket right now . 21. Could something that small make an impact on something as big as your retirement . I dont think so. Well if you start putting that towards your retirement every week and let it grow over time, for twenty to thirty years, that retirement challenge might not seem so big after all. Im Nicole Petallides with the fox business brief. The Dow Jones Industrial average up higher at 17,021. We are seeing the s p up 5 1 2. And the nasdaq composite up 15 points at the moment. The dow up half a percent today but down 250 points this week. Look at aol and yahoo both jumping today, you can see yahoo up 3. 9 . This as starboard takes a stake in yahoo urging it to combine with aol, trying to unlock shareholder value, writing a letter to the board encouraging them to put together a combination of the two and trying to benefit from alibaba and yahoo japan. Dow winners, nike accounting for 50 positive dow points. Cisco, American Express winners. Linkedin they like their navigator and radioshack surging today. Dont miss it. Lots of them, right . But when you try to get one by using your travel rewards card miles. Those seats mysteriously vanish. Why . All the flights you want are blacked out. Or they hit you up for some outrageous number of miles. Switch to the venture card from capital one. With venture, use your miles on any airline, any flight, any time. No blackout dates. And with every purchase youll earn unlimited double miles. Now were getting somewhere. Whats in your wallet . Now were getting somewhere. An Unprecedented Program arting busithat partners businesses with universities across the state. For better access to talent, cutting edge research, and state of the art facilities. And you pay no taxes for ten years. From biotech in brooklyn, to next gen energy in binghamton, to manufacturing in buffalo. Startupny has new businesses popping up across the state. See how startupny can help your business grow at startup. Ny. Gov. Stuart we covered this subject a lot on this program, declining marriage rates, among millennials. Listen to what one of our resident millennials, Kayleigh Mcenany said. The marriage fiasco is that millennials have grown up in a culture where 50 of marriages end up in divorce. Weve seen our parents get divorced. Not me in particular, but many millennials have. A lot of millennials are jaded by the economy and the institution itself has failed. Stuart we wanted to get a divorce attorneys take on kayleighs statement. With me is whitney bowen, a divorce attorney from orlando, florida. It is all your fault, encouraging divorce, tearing people apart and ruining it for youngsters who wont get married in the future. What do you got to say for yourself . First and pore most, i dont make apologies for the results of a bad recession. People are not in a position where they can afford to get married. Marriage is a luxury, and i dont think that millennials today, when you look at the fact that, you know, there are so many divorces that they experienced growing up and looked at costs of getting married. The consequences of getting divorced. There is noincentive, theyre working hard. Stuart listen, dont you think when you see your parents get divorced and a lot of millennials have seen parents divorce. Thats setting a bad example. Doesnt make you jump into the enthusiastic ring. Is the divorce rate 50 . Half of people who get married will be married and divorced within x number of years, is that true . I believe it is. In my line of work, i definitely see it in todays day and age whats happening when people are divorced and sitting with lawyers and trying to fight this out and figure out how things get resolved. What were giving up is debt. Were not giving up assets as much. People are feeling the effects of recession, theyre also looking at the Historical Context of their parents getting divorced 50 of the time. Very routinely for millennials and little incentive for people to get married. Stuart a lot of work is not assets accumulated in the marriage but debts accumulated in the marriage. Exactly. Stuart really . I didnt know that. Exactly. You consider the amount of millennials coming out of college, not working in the field that they studied, theyre being underpaid, working in more inner minute situations, theyre working less and the fact this is carrying heavy Student Loan Debt as well. Since im dealing with divorce, what im seeing is were having to divide up Student Loan Debt. Its unfair even, one spouse will have accrued enormous amount of Student Loan Debt and another spouse if that was carried during the marriage has to carry the debt as well, in the event of divorce. Theres a lot of issues that are involved as far as the economics as well as the social effects of divorce. Stuart im sorry, i dont want to go off on a tangent here, youre revealing something i didnt know. Debt is apportioned between the divorcing husband and wife equally. It is in the state of florida where equitable distribution state, many states are. What we deal with are not just splitting up assets but debts. If you came into the marriage with debts preexisted that is different. If youre going back to school as a result of the declining economy, even, those debts are now being split with the spouse theyre splitting up with when theyre getting divorced. It is overwhelming. Stuart sorry to interrupt, do you get a lot of bankruptcies after the divorce . Yes. Stuart because neither side can handle the debt theyve been handed . Thats correct. Were seeing that more and more. Thats a very integral part of this work is understanding kind of that many times thats a situation people are left in. They have no other choice. Stuart whitney boan, practicing divorce lawyer in orlando, florida, i believe. Yes. Stuart wow, you opened my eyes. You really did. Thank you very much, whitney. I hope you can come back, very good subject. Thank you, thanks for having me. Stuart do you have any comment . I have a comment. Stuart keep it brief. I blame it on television. Television does not show happy married couples. Look at for example house of cards, two people using each other to go in order their career. People dont want to emulate that. We used to have the brady bunch, the Partridge Family that was a single parent. They were happy, just not married. Rhoda was single. Marry tyler moore was single, too. But the brady bunch seemed to get along, and that helped. Stuart do you know what the producer said, cut him off and get to the script. That what he said . Stuart yes. They would never say that to me. Stuart do you remember bathtub jeff. I gave him that way. The Government Employee who used your tax dollars to pay for partying in vegas. Time to face the music, jeff. Hes been indicted for fraud. Details next. Know that chasing performance can mean lower returns and fewer choices in retirement. Know that proper allocation could help increase returns so you can enjoy that second home sooner. 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Call Liberty Mutual for a free quote today at see Car Insurance in a whole new light. Liberty mutual insurance. Stuart jeff kneelly, the man at center of the old gsa scandal. We called him bathtub jeff, he took himself, was living high life on las vegas on taxpayers dime by the way. Now the man allegedly has been indicted, allegedly billing the government for his personal vacation expenses, including trips to vegas. He is facing five years in prison and up to a quarter of a Million Dollars in fines. This was two years ago that he resigned. I think this man has had legal they will break him. He need lawyers. Running from the country. Running from the government. Robbing from the government. Were tightening our belts and these guys were living life of luxury. This outrageous. This is long overdue. Stuart i just feel bad for a guy who suddenly find himself in the middle after firestorm. You know what he is doing wrong, stuart . Dont you you have sense im on government dime. Im not supposed to be going to Opulent Hotels and opulent conferences. It is not the money. Not my money, somebody else es money . Stuart i think it was the way business was done at that level of government until he was found out. At that point, everything changed. We like to think everything changed. You have to rein in, his wife was an issue too. I wonder if she will get in trouble along with this now just him. Stuart indicted for fraud and, he is faces some prison time. I watched csi. Notice two cups on the bathtub. Must be somebody else involved. Stuart csi . Two cups. Much. He doesnt drink two cups. There is somebody else there. Stuart what is csi . Im just joking. The series. Stuart im joking. We have to wrap up the headlines in one minute. Tomorrow. Quick look at the weather. Nice day, beautiful tomorrow. Tomorrow is full of promise. We can come back tomorrrow. And we promise to keep it that way. Driven to preserve the environment, csx moves a ton of freight nearly 450 miles on one gallon of fuel. What a day. Cant wait til tomorrow. Watch this. Sam always gives you the good news in person, bad news in email. Good news fedex has flat rate shipping. Its called fedex one rate. And its affordable. Sounds great. [ cell phone typing ] [ typing continues ] [ whoosh ] [ cell phones buzz, chirp ] and we have to work the weekend. Great. More good news its friday woo [ male announcer ] ship a pak via Fedex Express saver® for as low as 7. 50. Stuart you got the iphone 6. Sure. Stuart touted it. Do you know that there was a line of people outside the studio when you first brought it into the studio. They wanted to see i think device has been held my more people than the popes that shaken hands. Stuart there you have it. Clayton morris on his very popular iphone 6. Lets get your take on the rest of todays show. Of first off, steve, he had this to say about legacys comments on the economic disconnect. If you make a lot of money, maybe you should save a little in case things go south. He has to reinvent himself and think positive. You can not blame the president for everything. All right, steve. One of our viewers had harsh words for eric holder as he resigns from office. Quote, holder and the president should join nfl as kicker and holder. They have done well with kicking cans down the road. Very funny. Bring it uptodate. Where are we . I want to quote the stock price of apple. We have been suggesting its a screaming buy, some of our guests did, screaming buy below 100 a share. Didnt affect the stock. We didnt get it above hundred. Dierdre bolton is next. Stuart, thank you very much. There is a big shift in one of the Worlds Largest bond funds. What it means to you, bill gross moving from pimco to janus. From optimism to doom. Venture capitalist Marc Andreessen says when markets turn a lot of startups will be vaporized. Into activist firm Starboard Value pushing yahoo for significant changes. More on the billion dollar suggestion to ceo marisa mayer. A poorly kept secret, the activist firm, Starboard Value, pushed for new ceo at microsoft. Got its way. About an hour ago, the same firm sent a letter to yahoo s ceo and