And Warren Buffett, lets move on to him. Warren and the boards. Well, i voted for compensation plans that i havent agreed with. Ive even sort of muttered a yes on some mergers that i didnt think made sense. It happens. If Warren Buffett with all his money, power, influence, cant say no to a board or to a management, can anyone . Are these boards worth it or have they become yes men and yes women . First, though, lets talk with this and more with sue in the house today. I sure am, ty. Good to see you. Were going to start with apple. A lot to talk talk obviously. Up better man 8 now. See that spike in its a nice one if youre long that stock. Announcing that split. How stocks that have done splits historically speaking are going to do in the future. Well talk about that in a second. First, out to josh lipton on apples lifeblood which is product line. Apple earnings released, some fears raced new ones. Apple told us it shipped 43. 7 million iphones, that was more than the street expected.
Announcer next, major credit card executives testified on excessive fees for card transactions. That is that Card Companies announce a fee hike to insert or tap credit and edit cards. This hearing runs two hours. Good morning. This hearing will come to order. American consumers today are rightly worried about inflation and rising prices for the goods they buy. Today were going to talk about a hidden fee that fuels the fires of inflation across america every day. What they may not know is this swipe fee is contributing to the problem of inflation. When swipe fees on credit and debit cards go up, as they recently did, it increases inflation. Consumers ultimately pay the price. Ironically, this journey for me started in this very room 16 years ago. Arlen specter was a chairman at the senate judiciary. He called the hearing on swipe and interchange fees. I attended because i was not familiar with those terms. I heard for the first time what a swipe fee was. The fact that, when i used my de
Have not thought about. Apple has a patent for face recognition on phones. That got their thumbprint on the model 5s and they have the idea of scanning faces for security. Tore are interesting ways employ this. It also is a privacy concern. It raises concerns. Is looking at this. Privacy is a big issue. It is, you mentioned the retailers will set at the table to come up with these voluntary standards but privacy groups will do this as well. The Commerce Department will bring together the retailers but alsoaclu and they will meet in february and they will come up with a code of conduct by june. The technology we are talking about remember the movie minority report in 2002 . It portrayed a world where cameras in Public Places could read Public Places and target ads to that individual. We are not quite in that world just yet but the technology is there. We have been talking about Companies Including apple. Cameras can take better pictures in Public Places, Geolocation Technology is everyw
That has upset the u. S. Military. Uwell, i have to tell you much of the east coast is still being pounded. The storm is being blamed for at least 18 deaths. About 750,000 homes and businesses lost power. The storm is also effected some of the countrys busiest airports, roughly 6400 flights have been canceled. Stranded passengers have been stuck in airports for hours. And people actually use skis to get around washington, d. C. Which is paralyzed by the snowfall. Mayor city mayor is on the defensive. During a News Conference today, the major said the heavy snow came faster than expected and sanitation crews struggle to keep up. During a morning rush. Well, the teachers union, criticized for keeping the citys Public Schools open during near blizzard conditions. My on the storm, okay, i am looking around you, it looks like you have a slushy mess out there. I am thinking right now being stuck at an airport doesnt sound that terrible compared to what is being seen out here. Mother nature n
President bidens 2023 budget request before House Appropriations subcommittee. This is just short of two hours. This hearing, 2,023 budget request for the department of labor. This is a hybrid hearing so we need to address housekeeping matters. The members joining virtually once you start speaking is a slight delay before being displayed on the main screen, speaking into the microphone activates the camera displaying the speaker, do not stop your remarks if you dont immediately see the screens switched. Of the screen does not change after several seconds please make sure you are not muted. To minimize background noise and ensure the direct sequencing we ask you remain on mute unless you have thought recognition. The chair individual designated by the chair, when they are not under recognition, to a laminate the background noise. Members who are virtual are responsible for muting and on muting themselves. Finally, house rules require me to remind you that weve set up an email address wh