Transcripts For FBC Varney Company 20150204

Varney and company is about to begin. Tom oil coming off a big rally. Right now, oil is at 50. 15. The real story is gas prices. Of to 2. 11. A big jump. Is at the beginning of more to come . It is not the beginning for a pot elliptic numbers. The market will be very volatile. I would not be surprised to see gasoline 20 0. 30 higher by aprils fools day. The tendency of momentum to trade gasoline higher this time of year. How about the strike going on in the country. Absolutely not a fact her. They do not impact gasoline production. 1. 1 billion of crude oil in the u. S. Plenty of incentive to keep refineries running. Tom that is the other part. You get into this whole question about the fact that they are cutting back on production feared walt that drive the price higher . They will not have back on production. They would like to. There is other stuff in the deep water. There is personal. Other parts of the world. Probably one and a half billion dollars a day. It will be an ugly spring for crude oil. Tom thank you very much. I appreciate you coming on. Mary kissel from the editorial or it is here. What do you think . I think that the market is grappling with a lot. Then there is Global Demand in u. S. Demand. We are nine years now with growth hello 3 . Very weak global growth. A lot of money coming into the u. S. Dollar. The triggers you are trying to figure out with all these factors together, where should that whale price settled . Overall, we are in an environment of disinflation. That does not bode well for Oil Prices Going through the roof. A pretty dim lightbulb. Nothing going on in this country. You are going to see the economy here and abroad continue to pump along. Tom i think the one simple way to remember this is that the dollar goes lower, our prices usually go higher. Able to buy more barrels of oil for that 1. They will not raise Interest Rates anytime this year. You have to wonder what it does. It is absolutely artificial. You cannot use the central bank to stimulate growth. You need fiscal reforms. They are doing it in japan. They are doing it in europe. They are doing it here. There is no reason the u. S. Economy will not turn into a japanese economy. If we keep going down this path, it is not a good road ahead. Tom the senate drilling at carter. The fourth secretary of defense in six years. Carter saying he is not talking about that much more with brett baier coming up. Back to the fight against islamic terrorism. Ice is releasing that brutal video. The jordanian government thickly retaliated executing to terrorists that were on death row. Including a female suicide bomber. Jordanian citizens took to the streets. Some protesting the government. Others rallied against isis. Judy miller is here. This is the most violence in the region. What is the story about protesting the jordanian government . That is price leads a challenge for the king. Our countrys strongest partner. Not only do they have over a million refugees in their country, they have also been providing all kinds of training and support. The pilot hailed from one of the strongest in jordan. The country rallied shortterm. What we can trade prisoners for. No. We will not give anything. When he was killed the entire country rallied around the king. Around him. Around commitment. Short term in the long term. He will have a very hard time holding the jordanian support for our coalition together. Tom what happens . Absolutely the pillar of stability in jordan. They came from saudi arabia. They put together the country that is now jordan. The palestinians are more numerous. More than that, the entire country is sunni. 40 of the country does not think of isis as the enemy. The team really has his work cut out for him. Tom it gets us involved the cause of the fact ken jordan handle the cost and expense of this without the u. S. Writing a check . I can complement jordan. They have always taken twice the number. They somehow manage, with some help from the United States. It has had wide leadership. These are prowestern antiextremist then. They must be supported and they must revise or lord only knows what will happen. Tom judy miller, thank you. We will get a military insiders take. We will also be joined by congressman darrell isa who is teaming up with the democrat mercenary ally shortcomings. Check the big board right now. Coming off a 300point rally yesterday. We would be negative if it were not for disney. Him look at that stock in particular. Frozen. Visitors flocked to the theme parks in the u. S. Sales growth it is slowing at chipolte here it investors do not like that at all. Lets go to Lauren Simonetti. Amazing video capturing the moment of a plane falling out of the sky in taiwan. Fiftyeight people were on board. Last count, 28 are dead. The plane crashed into the river. Fifteen people have been rescued. You can see the planes wing clipped the roadway right before it plunges into the water. Unfortunately, another tragic accident to report. At least six people were killed last night when a plane crashed into an suv. The suv caused an explosion stopping traffic on the metronorth line. The safety board is now on scene feared just over a year ago for people were killed when a metronorth train derailed because a conduct are then fell asleep at the wheel. Those are your headlines this point. Unfortunately, not very good ones. More tax troubles for al sharpton. Shady accounting work. That whole story is next. Cause ive got friends in low places where the whiskey drowns and the beer chases my blues away and i will be okay per him him him him him him him. Tom we have some issues. Rating the internet as a utility. Peter barnes has more. Breaking lading a public utility. He says i will circulate to the members of the fcc. Proposed new rules to observe the internet. The whole battle over net neutrality. I will propose that the fcc uses title to authority. Title to authority is the authority from congress to regulate the companies heavily as public utilities. This is a very controversial move, as you know. A lot of companies oppose this. A lot of content providers, you know, amazon and netflix and others, support this to make sure they can stream their products and such and other consumer groups have been fighting for this, too. It has been highly controversial. I could expect others will end up in court. Standby. Tom i know the president is backing this idea. The vote on february 26. A couple weeks from now. We will be covering it. It is stupid. Just when you think this administration cannot get dumber, they do. Will we prevent companies that use a lot of and with from having to pay higher prices . Tom yes. That is what it does. We have an example of american innovation. The most growth and prosperity for this country. Tom wheeler decides what tax it and regulate it. I did not know it was broken. Lets check the big boards. Energy is a big leg today. All moving lower. Exxon, chevron conoco phillips, bp all of them with red arrows in front of their name. Lets check apple. Hitting a new alltime high. Down 120 plus a share. Never seen that before. Lets get a take on ralph lauren. Loser today. Adam shapiro is at the stock exchange. Having real problem getting revenue to grow. Stock today down roughly 16 . They are the worst performer on as an e 500 years they are missing on revenue. Their revenue came in at 2. 3 billion, tom did ralph lauren is saying they get hurt by a strong dollar in the holiday quarter. This is the maker of club monaco. Ralph lauren and iconic brand. Struggling right now. Still up here today. Tom adam shapiro. Take you. Time is money. Thirty seconds. First, the suspicious death of an argentinian prosecutor of last month. Turns out there were arrests warrants for that countrys president and foreign minister in his apartment where he was found dead. Should parents be forced to vaccinate their children . We had top nurse at the Teachers Union last hour. From the world of golf. Caddies suing the pga. They should be paid for wearing sponsored logos. Maybe not completely honest stories about things. He has also had tax problems in the past. The fact that we are still talking about sharpton in 2015, he is a survivor. This looks pretty bad. I wonder if he will finally have two pay his bill. You said you found creative ways. Yes. Exactly. Someone of an unofficial advisor. He is all of those things and still that unofficial advisor role. He is a player. I think this should raise a lot of questions among democrats whether this is somebody they want to be associated with. Were formed the tax codes so guys can game the system. Isnt that the big lesson . That is one lesson. A lot of times, the big guys still find ways to find loopholes and eggs. He is actually the liquid according to the laws. You have to wonder why the irs is not actively pursuing. I cannot imagine what the answer to that would be. This is so apparent. Outrages. Tom that is the word i am looking for. Mike you are not talking about some of the games you can play, you are talking about this for profit regular business. Businesses have to pay taxes. They had some of the same addresses. Unfolded and the next one popped up the same exact place with a completely different aim. I think it looks into the entire story. Mixing charity and Public Service in his own game. He is nowhere to be found. Maybe this is the end of the line. Apparently, not for him. I appreciate it. Thank you for coming on today. Thank you for having me. The reality of obama. The real numbers are not as good as the president makes them out to be. Opportunities arent always obvious. Sometimes they just drop in. 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Tom couple of stockses to show you, wynn, a big drop in macaw business where, theyve been making all of their money. Shares right now down more than 5 . And kohls, theyre doing fine. The big winner of retail Sales Forecast is better than expected hitting a new high of 66 earlier. Just below that. The Bradley Cooper star of american sniper is speaking out, hes speaking out against those critics who want to make the movie all about the war in iraq. He said this to end pr. The fact its inciting discussion that has nothing to do with vets or its about the iraq war or what we did not do indict those who decided to go to the war, you know, every conversation that is in those terms, terry, is moving farther and farther away from what our soldiers go through. And fact theres 22 vets commit suicide each day the amount people that come home is so much greater than before because of medical advancement and that we need to take care of them. Tom good for him. Good for Bradley Cooper. Bravo. Tom coming out of hollywood. Theyre trying to make something else. He is sticking to his guns about, helping veterans who have served our country, especially in this particular war, and so good for Bradley Cooper. Hats off to him. Now to the economy, gallup says that the 5. 6 Unemployment Rate which the white house likes to talk about and say isnt this great. It doesnt count the 30 million americans who have given up. Mary, gallup is not a right wing nut job place. Not at all. Tom they are the center of the road. Not at all. You dont have to have an economics degree to understand what you just reported tom, americans than they havent gone the a raise over the obama era. They have friends and relatives out of work. You have an enormous number of College Graduates living at home with their parents. When the president comes out in the state of the union and says were turning a page. This is a strong economy. Even if youve never looked at the numbers, youre living your life in montana, florida or wherever you are, you know that thats not true. Tom it is people are smarter than i think sometimes we give them or obama gives them. The government likes to play them down. We are doing a great job, look at this Unemployment Rate when. Neighbor brotherinlaw you know theres a problem still out there. Youve seen it in the congressional election. Look at what happens in the democratic majority in 2008 compared to today. Massive swings. Historic swings. The American People than something is wrong and theyre electing new representatives and senators in there to try a change of direction. So look again you dont need an economics degree to understand something. The king wears no clothes. Theres a guy his name is escapes me right now. Williams is the last name. Jim williams runs shadow statistics and hes an economist and hes no wing, left wing nut job, he says when you add back in all the people they dont survey that are still unemployed he says the Unemployment Rate is greater than 20 . Variable around the country but very, very high. The plot thickens surrounding the suspicious death of a prosecutor in argentina. This is like out of a movie. Turns out he had arrest warrants for argentines president and foreign minister in his home where his body was found dead. Plus, the president s fourth defense secretary in six years. Whats going on at the pentagon . Bret baier is next. Theres nothing more romantic than a spontaneous moment. So why pause to take a pill . And why stop what youre doing to find a bathroom . With cialis for daily use, you dont have to plan around either. Its the only daily tablet approved to treat erectile dysfunction so you can be Ready Anytime the moment is right. 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Adding more than 40 points to the dow. 101. 60 on disney. And chipotle, sales growth slows, and perhaps the expectations game is catching up to them, that stock taking a hit, down more than 7 . Oil coming off of a big rally. It is down today. Its Still Holding that 50 level, everybody is watching to see which way its going to go shortterm. The real story is gas prices jumped a nickel overnight now up to 2. 11 and the lowest National Average hit during the big drop was 2. 02. For the cheapest gas in a land, you got a bargain in costco in idaho. Carter will be the fourth defense secretary in the president s cabinet six years in office. Lets bring in special report host bret baier. Bret, would you buy a stock in a company that went through four ceos in six years, what is going on there . Short answer tom, no. I dont think so. Most investors take a good hard look at that company. This is a unique situation, and you have defense secretaries over the past six years four of them, three day saying they were micromanaged by the white house. Leon panetta and chuck hagel was not happy with how things were run top down from the white house, into the minutia into the logistics ever the pentagon. Ash carter has a hearing this morning. Hes not expected to face opposition from republicans. Hes well regarded. But he has a big task in the pentagon. Tom and thats the impression i get from afar is that this guy is a good bureaucrat, and maybe the president s been looking for somebody that will sal cute and march to his orders and will this guy do that . Interesting, he is a logistics guy, he has been former most recently deputy secretary of defense 20112013. Hes a guy who knows where the skeletons are buried and knows how to keep the trains moving. But he is also a guy who is well respected in the walls of the pentagon and said at his nomination, when the president rolled out his nomination and he stood next to the president in the white house, that he would be frank and he would say what he felt about different issues. And i dont know if thats what this white house wants or not. Bret, isnt it scary when we face so many threats around the world, the scariest period in post world war ii history, you have people like Valerie Jarrett and ben rhodes running the pentagon running Foreign Policy . It is a tight group, and from every reporting that weve seen, you know, sources that talk into the inner circle it is very centrally located in that Valerie Jarrett ben rhodes circle around the president. They have a lot of power as well as susan rice the National Security adviser. No real Foreign Policy expertise . Obviously, susan rice with her as ambassador to the united nations. But beyond that, youre right. On the defense front, and when were talking about micromanaging a developing three dimensional chest of this war against isis it takes a lot. I think theres a lot of frustration in the five side building known as the pentagon. Tom the president is out there the other day talking about if you dont give me my increased spending, you know Security Defense is going to hurt. And yet at the same time, youve got a guy, the generals say dont cut, dont cut, but this guy, could he possibly since he knows where the bodies are buried do cutting and keep the military strong . Yeah, i think thats what the president wanted chuck hagel to do, and he did that until he started pushing back against the policy in syria, the policy in libya the policy in yemen, and that became a problem for this white house. I think ash carter has some leeway as far as his operational ability inside the pentagon because he has a lot of buyin from the people know who him there. I spent 5 1 2 years covering the pentagon its a complicated place because there are so many different people and so many different chiefs of the Different Military elements, but its going to be interesting to see. Tom and a lot of money. A big chunk of the budget. Bret baier 6 00 special report on the fox news channel. Thanks. You bet. Tom this is a bizarre story out of argentina. No, this is not made for a movie. The real deal. Arrest warrant for the argentine president and foreign minister found in the home of the dead prosecutor alberto nisman. He alleged they tried sabotage his investigation into a 1994 terrorist attack on the main Jewish Center in buenos aires. The prosecutor was found dead with a bullet wound to his dead on january 18. This is a day before he was to present his findings to argentinas congress. Mary, at first they said this was a suicide. There a couple things to note here. Alberto nisman the prosecutor is a very courageous man, no indication he was going to commit suicide. He had committed to introduce right before this murder happened. And i think theres a larger question here. If iran was involved in these murders, and were talking about 85 people who were murdered at this Jewish Center in buenos aires doesnt that send a signal to the white house that maybe this isnt a regime we can trust and should be doing business in with pursuing a nuclear deal with . Thats one of many issues with iran. But again, it underlines the point. Tehran is not our friend argentina is not our friend. Our south american policy is a disaster, and look, this is a terrible tragedy, and i hope eventually we get to the bottom of it doesnt look like we will. Tom sounds like a big cover up. The fact they left his body there, he didnt disappear was basically a sign. Were coming to you next if you try to uncover the truth. Thugocracy. Tom the u. K. Approved designer baby, children from three different parents. Is that ethical . Dr. Manny alvarez after this. So what about that stock . Actually, knowing the kind of risk that youre comfortable with id steer clear. Straight talk. Multiplied by 13,000 Financial Advisors its how edward jones makes sense of investing. Reporter im adam shapiro on the floor of the new york stock exchange. Three major indexes trading higher right now. In fact, nasdaq went positive for the year with the dow and the s p 500 within half a percent of going positive year to date. Lets take a look at some of the winners on the dow today. Disney shocking everybody with great earnings yesterday as well as revenue over 13 billion today. Visiting alltime highs over 101 a share up almost 8 . Visa up 2 , pfizer up 5 . Cocacola and at t trading higher today. Delta trading higher today. Might call it a new Caffeine High they will serve starbucks coffees on all 5,000 flights nationwide. As of today starbucks, you can get decaf, too. More varney co. Coming up after this. You owned your car for four years. You named it brad. You loved brad. And then you totaled him. You two had been through everything together. Two boyfriends. Three jobs. Youre like nothing can replace brad then Liberty Mutual calls. And you break into your happy dance. If you sign up for better car replacement, well pay for a car thats a model year newer with 15,000 fewer miles than your old one. See Car Insurance in a whole new light. Liberty mutual insurance. Tom take a look at the nasdaq, it just turned positive for the year. 4732, 4736 is the number to watch on the nasdaq, and its just a little below that now. But alltime high for the year for the nasdaq earlier. Great britain approves a threeperson invitro fertilization technique. Three people. Doctors in joining us dr. Manny alvarez with the fox news medical ateam. You are obgyn designer babies have we opened up the frankenstein box, what do you think . I dont think so. Listen, we have to be careful how we name this whole thing. This is for women that have mitochondrial disease. Mitochondrial disease is an inherited devastating disease for the newborn, acquired from the mothers egg, so basically what scientists are doing now is creating an embryo and adding more mitochondrial dna to the fertilized embryo, and that, of course, is coming from a female donor. Either from her egg or from another previous embryo that has been manufactured. But the point in the matter is you want to increase the amount of normal dna so that the child is not when you say designer baby, you are preventing a disease. And listen, this has this is nothing new. For three or four years, even here in new york scientists have been looking at doing this. The fda has not given the appropriate regulation for it so it wasnt done in the u. S. But it has nothing to do and i did a segment last night where you have babies with blue eyes and blond hair. No this is to look at specific genetic diseases that are inherited that we have no cure for, and in an effort to alter that. Tom you dont get its not a full surrogate mom, part of a surrogate mom. Part of her dna portion of normal dna. Mitochondrial disease, have you children with no muscle growth they have mental retardation. Its a devastating disease. So the option for that mother is either an egg donor, right . Or to adopt okay. All two things are proper to do, and this pathway, okay, you are using the dna from the mother, still from the father creating embryo but adding more exogenous dna which is not embedded with the mitochondrial sequences. There is no ethical slippery slope here . What we dont know yet is at the end of the day are we creating newborn children that may not have mitochondrial disease but may develop cancers at the age of 20. That is an ethical question to be discovered. However, the size has been looked at shortterm to say, okay, we want to move forward. Tom before you go talk about the pfizer drug, advanced Breast Cancer drug just received fda approval, big deal . Big deal. This is the first time in ten years we have a new drug for Breast Cancers that are postmenopausal women, that are estrogen sensitive, but are not hearst 2 positive. This is the most common Breast Cancer in women in their 50s and 60s. This works differently using the immune system of the mother by not allowing the cancer cells to multiply in conjunction with another drug which reduces estrogen and i hate to be so technical for you, you are preventing or prolonging complications from Breast Cancer 20 months above the normal. Tom this is for postmenopausal women . Yes, yes. Tom i thought the majority of Breast Cancers were for younger women . A good chunk in the postmenopausal phase. Remember postmenopausal, you can be in late 40s or early 50s. Its a good chunk of women suffering from these types of cancer. But have significant prolongation and life span when you combine the two drugs. Congratulations to pfizer on this one. Dr. Manny thank you as always. Lawsuit in professional golf. Caddies suing the pga saying they should be compensated because the fact theyre wearing the sponsors logos on the course. After the break, greg norman, the great white shark has a thing or two to say about the lawsuit. He joins us in just a few minutes. Later in the half hour, liz claman sits down with exclusive interview with warren buffett. 3 00 eastern time. Its a fact. Kind of like shopping hungry equals overshopping. Youre driving along, having a perfectly nice day, when out of nowhere a pickup truck slams into your brand new car. One second it wasnt there and the next second. Boom youve had your first accident. Now you have to make your first claim. So you talk to your Insurance Company and. Boom youre blindsided for a second time. They wont give you enough money to replace your brand new car. Dont those people know youre already shaken up . Liberty mutuals new car replacement will pay for the entire value of your car plus depreciation. Call and for drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. Switch to Liberty Mutual insurance and you could save up to 423 dollars. Call Liberty Mutual for a free quote today at see Car Insurance in a whole new light. Liberty mutual insurance. Tom all right, a group of caddies filing a classaction lawsuit against the pga tour. Caddies who wear bibs with Company Logos printed on them say the pga makes millions by using them as human billboards. But they dont see a dime of that money and they want the pga to pay up. Joining us on the phone golf legend ceo of great white shark enterprises, greg norman. Great to have you on the program. Thank you for joining us. Whats your take on the caddies getting the cut of the money . Tom thank you for having me on. Look, i think this is a case that has a lot of merit. Ive been in the golf game now nearly 40 years and theres been a lot of speculation and discussion about this over the years, and quite honestly caddies are not just caddies, theyre professional caddies. This is their life. This is what they do. Theyre part of the team. If youre part of the team you should be looked on as that professional caddie. I think they have a lot of merit, it will be interesting to follow the case its a progressive sport good luck to them. Tom at the same time, you said theyre part of a team thats true. Isnt the way it works is that if im your caddie and you win the tournament you give me a pretty good tip. Im getting kind of part of the money, arent i . You are, thats the prize money that the player does win and that depends on tom, the player. Players have different financial structure that the player has with the caddie. At the same time they are walking billboards. They are standing right beside the player getting paid a lot of money number one and getting paid a lot of money for endorsement fee, and you throw the pga tour on, there the corporate sponsorship. They want to get the exposure they need. From a caddies perspective, i can completely understand theyre walking billboards. I can completely understand theyre looking at their Health Insurance and 401 k maybe. Tom sure, i get that too, but at the same time, if im your caddie and getting a big piece of the sponsorship, you are going to give me the same size bonus working with you . Or are you going to cut back . No no no prize money is different than endorsement money. Endorsement money is different than corporate money for sponsorships. Youre looking at three different categories here. Theyre wearing the bib from a Title Sponsor for the event or the supporting sponsor for the event, and the theyre walking around. It doesnt have anything to do with the players, the players performance or anything like that. Every caddie has to wear this. Some caddies are more famous than others because of the player, they get more exposure on television. They feel they need a piece of the pie. Tom very important point about the way the money has different character to it. Different parts. Greg norman, we could talk all day. I got to run. Thank you very much for joining the program today. Not a problem. Thank you. Tom up next, colonel oliver north on president obamas fourth defense picture . Six years. What is going on at the pentagon . Plus congressman darrell issa on the one issue units him and Elijah Cummings. Remember this . If you will sit down and allow me to ask the question i am a member of the congress of the United States of america i am tired of this m i thinking about . Foreign markets. Asian debt that recognizes the shift in the global economy. You know, the kind that capitalizes on diversity across the credit spectrum and gets exposure to frontier and emerging markets. If you convert 4quarter p e of the s p 500 its yield is doing a lot better. If youve had to become your own investment expert, maybe its time for bny mellon a different kind of wealth manager. And black swans are unpredictable. Tom senate right now is grilling president obamas latest pick for defense secretary. Unassuming bureaucrat named Ashton Carter not very controversial. Carter will be the fourth defense secretary in six years, he follows chuck hagel, leon panetta and robert gates, all very qualified military and intelligence people, so whats going on at the pentagon that theres been so much turnover under this president . Why the revolving door . Could it be that this president is so hellbent on not sending more troops into battle, no matter what the cost to our security that he just wants a yes man running the Defense Department . Oliver north will weigh in as we begin hour two. Lets get right to the confirmation hearings on capitol hill. Peter barnes is following it for us. What are the highlights. Republican senator kelly iiot asked carter about the white house pressure to chuck hague toll increase the pace of detainee releases at guantanamo bay, cuba. This gets to the issue of perhaps all this rotation and departures of these defense secretaries. Three in the last six years here, and its an issue of micromanaging. And republicans have criticized the administration for its faster pace of gitmo transfers. According to the hill newspaper, it has released 27 detainees since the november 4th elections compared to 19 released in total between 2011 and 2013. Some of the released prisoners are suspected to have returned to terrorism or the battlefield. I would ask you to tell us and to make a commitment to this committee that you will not succumb to any pressure by this administration to increase the pace of transfers from guantanamo. Will you commit to that . Absolutely. Tom the white house says the president still wants gitmo closed. Reporter it says keeping it open undermines National Security because it service as recruitment tool for terrorist groups. Tom . Tom peter barnes in d. C. , thank you, peter. Carter will be the fourth defense secretary in president obamas six years in office and behind chuck hagel, leon panetta, robert gates oliver north host of war stories joins us lets relate this to the corporate world. The company had four ceos in six years you wouldnt be investing in them. Not at all. We have no choice as shareholders in the corporation, were the taxpayers. Pursuit corporate analogy for a few seconds here. The dod would be the corporation and the members of congress are the board of directors and, of course the president is the chairman of the board and ceo, and if the board of directors approves him, carter will be the new chief operations officer, coo. The shareholders only meet once every four years, the dod Corporate Mission statement is to deter war and protect the shareholders and adversary with few losses as possible. The potential coo is being asked by the board of directors questions about how he would adapt and run the corporation in a constantly changing threat environment, and, of course the shareholder and board of directors are concerned because the corporation is downsizing laying off employees, outsourcing a lot to civilians and other, quote, allies but potentially failing in our mission because the chairman refuses to heed the advice of the board of directors and not just the corporation has too much turnover and the chief operating officer. The real problem for carter him and predecessors is Mission Impossible obama the ceo is a virtual dictator. Liz mcdonald with tom sullivan. The military budget is an issue, how much is this an issue . Micromanagement by a National Security adviser, susan rice and others in the white house. Leon panetta has complained about that and so has robert gates . Sure, lets go back to corporate model. If the ceo cant name the opposition, in this case radical islam, thats where the breakdown comes. Its not a matter of corporate success or failure, its whether the investors get a return on investment for us. Success is a matter of life or death. That micromanagement that theyre getting out of the white house from the Ceos Chairmans office is devastating to the shareholders. I think its time for a shareholder revolt. Tell that board of directors well fire them if they dont make this thing right. Tom colonel its a big budget a lot of money, very complex. The defense secretary has to be pretty smart at running. That this guy apparently knows his stuff on where the money needs to go. But the president is coming out with new budget and saying if you dont give me more money were going to have a National Security issue. In other words, were going to be cutting the pentagon even more. Is this guy being brought in because of the fact that he knows how to cut without cutting muscle . Its impossible not to cut muscle tom. The real problem that weve got here is the white house dominates this process, and so even if the Congress Says no we want a certain allocation for funds for this that and the other thing, this president doesnt have to spend the money. Look at the little sot you ran a few seconds ago, hes committed himself to being opposition to the ceo on keeping gitmo open or closed. Congress appropriates money for it. If he closes it theres no way congress can stop him, except to cut funds somewhere else. Were in a terrible fix, and this white house really doesnt know how to win a war. Tom you think this guy will last two years . Or were going to have a fifth coo . Its entirely possible, tom. These guys need a lesson how to win a war. From all ive read and heard about carter hes got all the right attributes. The problem is is the ceo going to do what needs to be done. Tom Lieutenant Colonel north, always good to see you. Thanks tom. Tom dont miss war stories this sunday 8 00 p. M. Eastern time on the fox business network. Checking the big board, the Dow Jones Industrials near session highs, up 61 after starting off a little lower, going higher, but not too far after the 300point gain yesterday. Apple soaring to new highs. The Company Worth more than 700 billion. It was 120. Now 119. 93. Did hit an alltime high record earlier. Disney shares, all about frozen making big money for them in Home Entertainment and toy sales and disney theme parks, visitors are flocking to the theme parks. That did very well as well. And higher profit that General Motors despite recall costs in north america, the stock is up 5 , not bad for a big, big company like General Motors, and oil coming off of a big rally, climbing 7 yesterday. Right now the price of oil is hanging onto the 50 price however. The real story is gas prices, jumped a nickel overnight, average price is 2. 11. Other stories around the world, at least 25 People Killed in taiwan after a flight virtually fell out of the sky. The plane turning onto its side shortly after takeoff. Clipped a bridge and crashed into the river in taipei. A driver on the bridge was hit. Miraculously, 15 people were rescued from the river where the plane crashed and crews are working to recover the planes black box. Lets get back to politics because some members of Congress Want to you have better access to public records. Joining us California Republican darrell issa who is leading the charge in the house, and congressman after what happened with lois lerner you keep fighting and fighting and fighting to get data are you going to make progress on this effort . We are. Tom, when Elijah Cummings and i famously were seen at odds in specific discovery people said you cant do things together. The fact is in the last congress the data act, information reform would stop Something Like obamacares website from being a catastrophe again were passed. In this congress, a bill that should have passed last congress but the senate acted too late. The reforms of freedom of information act are something Elijah Cummings and i are working shoulder to shoulder on that, in fact, changes the priority that you get information that the government has from you have to prove you have a right to get it to the opposite. You have an absolute right to get it and government can only withhold it if they show a compelling reason to withhold it elijah and i feel strongly, moving quickly, the senate will mark it up in a few days under the new leadership. We expect to make this law this year. Tom we cant let this go by because of the fact youre working with Elijah Cummings, not too long ago, it wasnt all that friendly. Lets roll it. If you will sit down and allow me to ask the question. I am a member of the congress of the United States of america i am tired of this so are you guys buddies now or what happened . You know, elijah and i had to bifurcate two things. He quite frankly was mostly trying to stop the kind of discovery we thought was appropriate in fast and furious, in benghazi, in lois lerners irs situation and came to difficult terms from time to time. Our belief this president to the next one to the next one has to be more transparent and we have to institutionally change that. Its something weve been able to work on. This is an example. Freedom of information act reform like whistleblowers and others, these bills will fundamental change for this president and the next president , the ability to withhold unreasonably information, you might note that many of the investigations we did for you, the freedom of investigation discoveries whether by the press or firms that specialize in getting discovery, sometimes get out ahead of congressional inquiries. Its a powerful tool we want to invest in one youll see bipartisan support, we just have to keep the bill strong as it gets through the house and the senate so the American People get the access to the information they deserve. So this is about foia freedom of information act. The irs was only audited by the inspector general. When is the u. S. Congress going to have agencies proving federal units or federal agencies . When is the irs going to be actually investigated not just in audit by the ig. Were talking when are we going to have the compulsory introg tories . The subpoenas, depositions . We have federal agencies investigating companies all the time. Why is it only we get little audits of things like the irs problem . First of all, i think that you should never understate the power of an inspector general. Empower the igs to be independent and go after it has borne a lot of fruit for all of us. Russell george the ig is slow and methodical ultimately work is good. The answer to the question other than the igs government doesnt do a good job investigating itself. So the transparency that is necessary, the public the press and congress is essential if were going to audit those. You know, you just had colonel north on before and he was talking about corporations and governance. The fact is no board of directors would tolerate being locked out of every nuance of the corporation and spending of corporation if theyre responsible, the stockholders. We insist the stockholders the American People and the board have access to the information. And thats what were trying to do with the foia reform. Tom congressman darrell issa, thank you so much for coming on. You bet. Tom measles vaccine update. Question for dr. Keith ablow. Why all the hysteria about vaccination says in hes next. The real question that needs to be asked is what is it that we can do that is impactful . What the cloud enables is computing to empower cancer researchers. It used to take two weeks to sequence and analyze a genome; with the microsoft cloud we can analyze 100 per day. Whatever i can do to help compute a cure for cancer, thats what id like to do. Friday night, buddy. You are gonna need a wingman. And with my cash back, you are money. Forget him. My Airline Miles will take your game worldwide. What im really looking for is i got two words for you rewards. Theres got to be better cards than this. [ male announcer ] theres a better way with creditcards. Com. Compare hundreds of cards from all the major banks to find the one thats right for you. Its simple. Search, compare, and apply at creditcards. Com. First rounds on me. Tom oil coming off a big rally, climbing 7 yesterday, and right now the price of oil hanging onto 50, but the real story is gas prices jumping a nickel overnight to 2. 11. Lets bring in larry levitt in chicago. Larry, when you have a big jump like a nickel overnight, does that give you some sort of bottom signal or the dead cat bounced, or what do we got . Certainly going to depend on supply and demand as far as oil is concerned. Thats the catalyst that drives gas price. Certainly as you said the nickel is a big deal seven days in a row where the price has gone up. Compare that to 123 Straight Days with the price went down. I dont think were in too bad a shape. We have people that are covering that short and people are trying to buy at the bottom right now. There is a decent amount buy pressure coming in. I think lower prices are yet to come. A dead cat bounce might be a good way to look at it. Tom a little more complicated than normal day at the commodities exchange. Refinery strike and you got the dollar one day way up one day way down and thats affecting all of us too . Certainly, and add a third thing, all the producers keep talking about they have to take a lot of things offline. Two ways to look at that one as the price continues to drop it was less profitable to do things and they would have to take things offline. A lot of the talk about that as a way to get the price up and hopefully not take things offline. You got to look at it both ways, and i dont think its clear what the reality is certainly those three things are affects price and affecting to the upside. Those people short lately are getting head handed to them in the last couple of days. Tom bottom line, understanding its going lower . I think its going lower. Dead cat bounce is a good way to say it. 50 in oil and 2 in gas. Tom larry thank you very much. Lets switch gears, dr. Keith ablow, we have a lot for you to put on the couch. Start with the vaccine hysteria. Thats what people are calling it because some doctors are refusing to see patients who dont have shots and parents are keeping kids home from school, are they overreacting, doctor . Well, i think the parents who are keeping their kids from getting vaccinated are overreacting. There isnt evidence that these vaccines cause autism. There is not evident of that. That was based on a paper that was withdrawn, a Research Paper that was taken out of academic if you will lexicon, and so i think those folks dont understand that science is factually based, and if you cant reference a reason to not spare yourself and your children significant illnesses, then you really got to go with it. Tom and im not going to make any Jenny Mccarthy swipes here, but people get their information from whoever they trust and theres people through the that believe that Jenny Mccarthy is onto something . Well, listen you can pause at any theory. People believe that fluoride in water is a technique to control the population because fluoride and fluoxetine prozac look a little alike molecularly. You can say anything you want its a free country, a scientist will look at the data and there isnt data to suggest that you are keeping your kids safe by not immunizing them. Youre keeping them safe by immunizing them, and the government does a role to say youve got to keep safe. Do you want to hear from the president to keep your kids vaccinated or john boehner or Chris Christie . Is that the role for politicians . The role for which the diagnosis that is made of some politicians is this do you see a legitimate role for government when it comes to safeguarding people generally . Are there situations in which there is a role for government and i believe there is, and those who dont are defining themselves as a bit on the extreme side of a bell curve. Tom doctor thats another whole subject theres a lot of people that dont trust government, and thats therefore where we are where we are. Yes. Tom you saw the story that britain approved threeparent in vitro. Designer babies seem like a big pandoras box if we open that with this . I think we have opened that with this, and, you know, the tree of knowledge is a particular thing there. Are dangers associated with it right . Not only are there unanswered scientific questions what does it mean to combine the dna of three parents to avoid certain illnesses . Where does that stop . Should that also be to avoid folks who are short in stature . Or people who are too tall in stature . Or people who tend toward being a little overweight. What is the frame that were going to put around this . And i oppose any donation of ovum or dna or semen that is not made known to the child thus produced. This is anonymous as far as i know. Its only. 1 of the genetic material. I might like to know my. 1 mother. Tom if im onethird of the parents do i get visitation rights and pay support . Its endless. Dr. Keith ablow, great to get your take on things. Thanks my friend. Tom you bet. More details emerging surrounding the death of argentinean prosecutor. Turns out he had arrest warrants for the president and foreign minister. The full story next. And later this afternoon, liz claman sits down with exclusive interview with warren buffett, one on one for an entire hour thats coming up at 3 00 eastern. The future of the market is never clear. But at t. Rowe price we can help guide your retirement savings. Our experience is one reason 100 of our Retirement Funds beat their 10year lipper averages. So wherever your longterm goals take you we can help you feel confident. Request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. Call us or your advisor. T. Rowe price. Invest with confidence. Inheritance tonight, ginnie called the shows us a gun used by bonnie and clyde. Can you imagine Something Like that being passed down to you . Somebody did. She got to hold the gun. She told me it is heavy. A 3 million nicole. All starts at 9 00 tonight on the fox business network. For r coless retail forecast was better than expected, stocks up 6 big boost smokers suspending 3 million to buy the maker of milk bone dog biscuits and meow mix investors seem to like it. Shares hitting a new high of 114 earlier but still positive first modern. Merck sales and outlook are disappointing, the big drug companys stock is down 31 3 . A bizarre story out of argentina. An arrest warrant for the argentine president and foreign minister, and they were in the home of the dead prosecutor, this is right out of a madefortv movie. Liz there was no gun powder residue on his hand. There was a gun and shell casing year his body before he was found dead. What is happening now is there was apparently an arrest affidavit in the trash bin in his apartment seeking the arrest of president Christina Kirchner and other top government officials. The government officials ripping up reports about this but argentina is nude default in on its debt. The story line is he was probing the bombing of the Jewish Center in 1994, could have implicated individuals in a trade deal in argentina. And facing default. We need to see if the government can withstand it. It is a major scandal and controversy. Tom this is a whodunit and there are a lot of suspects. It is the iranians or the president . Was supposed to testify the next day so this was a hit. Liz that is what the controversy is. It is a coverup. Argentina is known for having Serious Problems with its government. This one is the notably bad one. And iran is training 50. Over its Nuclear Plants overbear, argentina continues to be an ally of the u. S. Tom i wonder if the pope will chime in on this. He knows all the players. Liz what is key is the 10 man Security Force who were apparently dismissed. They may have some answers. Tom i have seen this movie. Liz like a hitchcock movie. Tom there could be more power given to the epa in the name of clean drinking water. We explain after this. Tom oil coming off of a big rally climbing 7 . A price of oil up, we broke down below 50 49. 88. Larry levin said it would go lower. Real story in gas prices jumping an eagle to 2. 11 and now we have just 20 states in the 1 club. That is where the state average for regular is below 2 and gallant. I suspect that number will get smaller if gas prices keep climbing. Larry levin thinks it will go lower. Here is what tom said last hour about where gas prices are heading the markets going to be very volatile. I would not be surprised to see gasoline prices on the street 0. 20 to 0. 30 higher by april fools day or to see crude oil prices lower. Tom crude oil lower but we care what is going on at the guests come. Heres a look at Lauren Simonetti with the very latest. President obamas choice for the next secretary of defense, Ashton Carter taking questions on capitol hill as he looks to secure his nomination as 25th secretary of defense and forth under president obama. He is widely expected to be confirmed by the senate to replace outgoing secretary jack day. Jordan takes revenge on isis and the brutal murder of its young Fighter Pilot who was in executing two al qaeda prisoners in their custody. One of those prisoners hand was the female suicide bomber. Isis said it was willing to swap in negotiations for the pilot and two japanese nationals. That jordanian Fighter Pilot, 26 years old was burned alive in that gruesome 22 minute video released yesterday. Shows him in a cage with a line of kilby in to him which is ignited as he burned into flames. Jordanians quickly took to the streets to protest that killing by isis and today crowds cheering Jordans King Abdallah for the fifth execution of the terrorist prisoners. Tom now to capitol hill, the head of the epa testifying on clean drinking water. Question, is the agency about to get more power . A congressman from pennsylvania is in d. C. Is the epa getting a new area they will be able to regulate . Thanks for having me on. Two points. Number one. Every member of congress, republican and democrat wants to have clean water and we want to make sure laws are in place to make sure we have a clean drinking supply of water. Second, to your question, the epa and the president once again are trying to put a will allowed to change the definition from navigable waterways to water to the United States which will give them the power to virtually go anywhere in the United States even dry places if there happens to the water there occasionally to regulate that. What they are doing fundamental the is breaking the partnership between the federal government State Government and local government which has been in place for years trying to figure out the best way to proceed and protect the water source in every state. Every state has a different water source and that is something we have to maintain and not allow the epa to do this overreach which i believe will cost the economy greatly, it will affect farmers it will affect Home Builders and ultimately it will affect working class americans, middleclass americans because they will have to pay more for their food, they will have to pay more for their homes and in the end we have to have clean water without this rule in place. The epa has been brought to court on this navigable waterway, nothing more than like you said a dried up pond on somebodys property. Cant build their homes, they are taking away private individuals, private Property Rights and they have been fighting this in court. Will this make it so the courts have no say but to lead the epa take away your property . Absolutely right. The Supreme Court said twice, not once but twice the that the epa doesnt have this ability. In addition the Democratic Controlled Congress rejected this measured twice. They attempt to cherry pick, navigate their way to another rulemaking an hour job in the house and senate, we have a joint hearing between house and senate we need to craft legislation that stops or delays this rulemaking and it is up to congress to decide what the law of the land is and that is what the Supreme Court said. Tom gas prices shot 2. 11. The question is do you think a lot of talk and the republican side about raising gas taxes . I dont believe that will happen. Leaders on both sides of the aisle have said that is not going to happen but we need to fight a sustainable source of revenue for the Highway Trust Fund and we are looking at many different options, something that is important to america. We have a crumbling infrastructure, not only highways and waterways are crumbling but we need to make investments to keep the economy efficient and competitive in the world. When we look at the Historic Context of this country and what we have done in washington this is one of the fundamental things washington, the government should do, participate in the building of infrastructure. That is to our original Founding Fathers participated in. Tom Grover Norquist brought up you have much more expensive construction you have funds for bike trails and all kinds of things. The money is already there in a lot of peoples opinion. I want to refocus those dollars and make sure they are going to the National Priorities regional priorities to make sure the Free Movement and movement of mass numbers of people is where the dollars are redirected and that is something we will do in the next bill. There are other things, that is up to you, the federal government should not mandate that. Tom thanks, appreciate you coming on. One of the head nurses at the big Teachers Union question for nurse at a Teachers Union, does she think measles vaccines should be mandatory . I am adam shapiro with your fox business brief watching the markets find direction today holding on to the gains on the dow, the s p 500 moved up and down all day. Disney hit record high 101 and change. Other stocks trading up, General Motors the provocations, one of the 48000 people who works for General Motors, you will get a 9,000 Profit Sharing checks. Also apple has a market capitalization of several hundred billion dollars. It also hit a new 52 week high. One other thing it did is a cast and would in north america, smart phones using the apple system are now more popular than android. We have more for you coming up on the fox business network. The real question that needs to be asked is what is it that we can do that is impactful . What the cloud enables is computing to empower cancer researchers. It used to take two weeks to sequence and analyze a genome; with the microsoft cloud we can analyze 100 per day. Whatever i can do to help compute a cure for cancer, thats what id like to do. Tom oil coming back below 50. It is giving back nearly all of its gains from the big rally we had yesterday. A deeper look atsparking 0. 05 overnight to 2. 11 a gallon on the National Average. That price also got a lot of attention from a lot of people over night because a nickel is a big jump. Liz here is the thing about the gas prices. That will refinery strike is still ongoing and the union is saying we may do even more walk outs at other refineries across the country so theres always the bottleneck at the refineries but when you have the u. S. Government saying wait a second crude stockpiles, 1982, levels they havent seen since they started tracking in 1982 and gas stockpiles are high as well. Your earlier guest is probably right, the driving season, we will see low gas prices. Tom one more part about this, the union regardless of what you think about their position they dont have a lot of bargaining chips right now with the fact that youve got this oversupply and use this as a great point. Measles outbreak is not slowing down. 102 cases reported in 14 states across the country so far. The latest group to speak out in support of the measles vaccine is the American Federation of teachers. And a registered nurse bowling us now. Thank you, i love the fact that you are with the Teachers Union and you are a nurse. Teachers are on the front line of this whole thing. That seems to be the commonplace to say we got to have vaccinations. It makes sense. Certainly teachers and children. In terms of the health care we have a Health Care Division and in our view, the measles vaccine is important, it should continue to be mandatory and there is a full sense of security in the United States because it is such a preventable disease because of the vaccines that people might have taken for granted that it doesnt exist anymore. Tom very good point. You said it should continue to be mandatory. I differ with you because it used to be mandatory but a lot of places, parents need to sign a form that says i dont want it and the child still gets to go to school. I dont know what it appears in all states. There are some exceptions due to medical reasons which are logical ones. Generally, it should be that all kids need to be protected. It is a preventable disease by getting the vaccines sell i dont think it should be up to opinion. It has to be based on medical science and we have all the reports in coming years of experience. We know that it can be almost eradicated. Tom the nursing profession which you dont represent. I do represent nurses. Tom there have been stories around the country of nurses that have been required to get a vaccination and they did not want to so they sued saying you cant make me get this vaccine and i get to keep my job. There is some disagreement. You might be talking about a flu vaccine as opposed to the measles. That is a different story because that is an annual vaccine supply demand, effectiveness, it is not the same as measles. Measles has a 95 effective rate and when kids dont get it, they can be exposed to children like in disneyland from kids who come from out of the country. Tom i teachers required to get the vaccinations as part of their employment . We all got them. As a child you got them. Liz are you forced to is a teacher . You are expected to have the measles vaccination and you probably had it when you were a child because it is normally given after the age of 1 year. Tom i dont know what shots i got when i was a child. You could check your immune levels and i recommend that you do that. If there was an epidemic of the measles a blood test. Liz do you like hearing politicians weighing in on this . I think in recent cases it has been a disservice because it gives the impression that it is not as important or it should be optional and we dont agree. Tom eradicating it has let our guard down because we dont think will happen. And twomey. The surpassed beef, you are eating a lot more they can. Will it be getting any cheaper . Theres nothing more romantic than a spontaneous moment. So why pause to take a pill . And why stop what youre doing to find a bathroom . With cialis for daily use, you dont have to plan around either. Its the only daily tablet approved to treat erectile dysfunction so you can be Ready Anytime the moment is right. Plus cialis treats the frustrating urinary symptoms of bph, like needing to go frequently, day or night. 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Sixtyfive may get all e attention, but now is a good time to start thinking about how you want things to be. [ male announcer ] go long™. Tom following the price of oil closely. It has given back all the gains it made in the rally yesterday and then some. Wild swings in oil i back below 50, 4955 on other barrel of oil. Pork is now passing beat as the most produced meat in america. You know how we had to ask the man in the cow jack about this one. So are you going to get the pork jacket instead . What is going on . I naturally have a pork jacket that i put this jacket over. It is a shocking statistic since 1952. Take in consideration and number of things, we had record low head count with cattle herds a year or two ago combined with the fact we had a disease that killed a lot of piglets but when you have to take a look at his mother nature. Did gestation period is 115 days. They normally give birth to one made between but you got a litter five to ten piglets. That place to the fact the we are having cheap corn and soybean prices. Everything is in favor of the hog and we have seen that pork overtake beef as of late. Tom people are talking about the price of beef skyrocketing compared to inflation. Yes. That is an aspect of a drought, had to get rid of a lot of cat and five years ago because we didnt have anything to feed them so that led to a record low head count, skyrocketing prices. At the same time we start to make more piglets after we get through that disease and that is why we have seen the number of letters every take the number of calves that are born. Tom always agree explanation, we have more varney right after this. Ive been called a control freak. I like to think of myself as more of a control. Enthusiast. Mmm, a perfect 177degrees. And thats why this road warrior rents from national. I can bypass the counter and go straight to my car. And i dont have to talk to any humans, unless i want to. And i dont. And national lets me choose any car in the aisle. Control. Its so, whats the word . Sexy. Go national. Go like a pro. Tom stock is down a tiny bit the Parent Company mercury marine, one of the leading manufacturers of boats and marine motors and jeff flock is at their headquarters in wisconsin getting an exclusive tour is you shouldnt be able to hear that. You want to make some quiet. Tom smooth and quiet, designed to be absolutely silent when it idle st. You barely hear it when it is running. Jeff gas prices obviously a big driver of your business. As we look down the production line you like what you see. Gas prices declining by as much as they have opened a lot of discretionary income, that is good for Recreational Activity like boating so we like that. Jeff brunswick 50 of the business is mercury marine. Get an exclusive live to work. It will be boating season soon. Thank you. Now some risk and reward with cheryl casone. Cheryl here is a question. Hackers, what hackers . According to a new report Corporate America is not letting cyberthreat despite the hack attack last year. In hardware amazon has taken, apple has nothing to worry about. Pope francis wants to hang out. He is hosting his second google hang out to reach you around the world. To our top story, and news that broke today. Federal Communications Chairman tom wheeler Just Announced his plans to regulate the internet and referred to them as, quote, the strongest so an internet protection ever proposed. Doug mcmillan, wall street journal reporter joining me with the latest. Lets talk about this. One thing i did notice in the op edge is he seemed to take more of a balanced