Todays cyber monday shopping. The National Retail federation is still expecting holiday sales to jump by 4. 1 , outpacing last years increase. Here to discuss our very own charlie gasparino, veronica daguerre of the wall street journal and dan shaffer, president of shaffer asset management. Are think optimistic or delusional . They still think well end up ahead. A lot of people are buying online. That could boost sales as they said. I think well see increase in sales. Seems like were headed in that direction despite the stretched consumer. The question at what margin . What profits are Companies Going to get the sales because they are discounting so details. Melissa you were online by 5 00 a. M. On thursday, right . Of course. I thought economy is supposed to be getting dramatically better. Isnt that what were reading every day out of wall street. Melissa right. This is one indicator but pretty good indicator, people are not spending this time of year, they dont have disposable income,
Issues at play with two special guest hosts. Wharton professor of finance Jeremy Siegel and trusted american businessman steve forbes. Both onset and ready to start this discussion at 6 00. First, though, andrew has a few of the top business headlines. Lets talk about some of the headlines this morning. Cisco systems buying Cloud Network start up meraki for 1. 2 billion in cash. It was founded in 2006 by members of m. I. T. s laboratory for computer science. Joe, i dont know if you take credit for any of that. Bp plans to spend up to 5. 9 billion buying back stock. Last week the oil giant agreed to pay record criminal penalties over the deepwater horizon disaster. And americans are carrying more Credit Card Debt and being less diligent about making on time payments. Trans union now reporting that average Credit Card Debt for borrowers grew 4. 9 in the Third Quarter and meantime the rate of credit card payments at least 93 days overdue rose slightly to three quarters of a percent. This
That hardly ever happens and it reflects the new postelection mood of cooperation. House Speaker John Boehner called the meeting very constructive. I outlined a framework that deals with reforming our tax code and reforming our spending. And i believe the framework that ive outlined in our meeting today is consistent with the president s call for a fair and balanced approach. Reporter to Republican Leaders balance means some higher tax revenues are paired with reductions in spending and changes in entitlement programs. Thats a challenge for democrats, but the president seemed willing to move in that direction. Our challenge is to make sure that we are able to cooperate together, work together, find some common ground, make some tough compromises, build some consensus to do the peoples business. And what folks are looking for and i think all of us agree on this is action. Reporter Speaker Pelosi suggested the leaders agree on milestones that will bolster the economy. We should have a go
That hardly ever happens and it reflects the new postelection mood of cooperation. House Speaker John Boehner called the meeting very constructive. I outlined a framework that deals with reforming our tax code and reforming our spending. And i believe the framework that ive outlined in our meeting today is consistent with the president s call for a fair and balanced approach. Reporter to Republican Leaders balance means some higher tax revenues are paired with reductions in spending and changes in entitlement programs. Thats a challenge for democrats, but the president seemed willing to move in that direction. Our challenge is to make sure that we are able to cooperate together, work together, find some common ground, make some tough compromises, build some consensus to do the peoples business. And what folks are looking for and i think all of us agree on this is action. Reporter Speaker Pelosi suggested the leaders agree on milestones that will bolster the economy. We should have a go
Congressional leaders who emerged later to say they want to move quickly to prevent automatic spending cuts and tax increases from tanking the economy at the first of the year. But as darren gersh reports, what we are not yet clear about is whether either side is willing to give up enough to get the job done. Reporter in washington, they think carefully about the pictures they want to present to the public so this mattered. All four congressional leaders democrats and republicans after meeting with the president chose to face the cameras together. That hardly ever happens and it reflects the new postelection mood of cooperation. House Speaker John Boehner called the meeting very constructive. I outlined a framework that deals with reforming our tax code and reforming our spending. And i believe the framework that ive outlined in our meeting today is consistent with the president s call for a fair and balanced approach. Reporter to Republican Leaders balance means some higher tax revenu