Transcripts For FBC Varney Company 20170623 : comparemela.c

FBC Varney Company June 23, 2017

Ka Kathy Griffin and the trump hater who scott Steve Scalise and came close to a massacre of republicans. And they use obscenities to describe the president. Theres a sign that its hurting democrats. And there was a fourth republican win and trump hasnt lost one. Despite the talk of russia and spewing of hatred, the president has held steady for Approval Rating of 40 . Thats not great, but thats the back drop this morning. Varney company is about to begin. Frankly, i dont think theres any way this gets negotiated in two years, i think there will be remaining and lasting uncertainty in great britain, but in the u. S. I think its a huge buying opportunity, i would be looking for the great down stories in and i would get in with both feet. Stuart oh, yes, that was former Goldman Sachs partner, varney regular peter kernen, one year ago today, to get into the markets. The day of the british exit vote. Take a look since then. The major averages all of them up nicely with a good assist from the election of President Trump. Here are the tech stocks, straight up big time, 30, 30 up. More big name stocks since the brexit vote all of them straight up big time. How about the banks, Financial Companies, what happened to them post brexit, 63 , look at that, all of them straight up. How about oil stocks since the british exit vote one year ago today. Look at that, two of them down, one of them virtually unchanged. Didnt do much and oil stocks about it. One year ago today, the brexit vote. The big news in politics and money today, this friday, the Senates Health reform plan. Four conservatives senators say theyre not going to do that without changes. Rand paul, texas ted cruz, utah mike lee, wisconsin senator ron johnson. Joining us now, Fox News Contributor, byron york. All right, byron, i cannot believe any republican senator will kill this bill. Kill the president s growth agenda, ruin the g. O. P. As a ruling party and leave the rest of us to suffer under an unchanged obamacare. I cant believe when push comes to shove, theyll pull the lever. I think they need 50 plus the vicepresident to pass this and we have four right now saying theyre holding out. What are they holding out for . Theyre vague what it would take for them to vote for this bill. Weve seen a lot of conservative commentary from those who have been opposed to obamacare all along. Theyre saying dont call this Obamacare Repeal because its not Obamacare Repeal. If subs did hes go under obamacare to people who have make 400 of the Poverty Level and we change 350, thats tweaking obamacare. These senators have not said exactly what they want. Stuart i think theyre in negotiating mode, byron. Absolutely. Stuart theyre going to take a hardline stance, but i think theyll come back if not them, maybe some democrats will join. And stay there, ive got to deal with Something Else for a moment. Rand paul, senator paul says the senate bill didnt reform much of anything. Listen to this. My fear is when i look at this, i keep reading it and its like, it sounds like obamacare to me. Doesnt sound like obamacare light, in some areas it may be obamacare plus, on the subsidy side. Stuart all right. Joining us now, betsy mccoy, former new york lt. Governor, author of beating obamacare, the word repeal occurs, repeatedly throughout this bill. It repeals the individual mandate. You will not be forced to buy Health Insurance or pay a penalty. It repeals the jobs killing employer mandate. So that hundreds of thousands of people who have been demoted to parttime status so their employer could avoid the mandate will now be able to work as many hours as they can. Stuart taxes. The most important of all. It repeals virtually all the obamacare taxes, including that insidious 3. 8 investment tax surcharge and the socalled medicare payroll tax, the funds of which do not go to medicare at all. Stuart i think rand pauls main objection is to the subsidies and payments going to the Insurance Companies, they stay. Yes, it is a new world here in terms of the publics expectation that people who buy in the individual market below a certain income level will get some sort of government assistance or tax break. That is true. Stuart and thats staying. That is staying under this bill and under the house bill, but let me point out the other critically important reform. Medicaid, the nation is about to be drowning in red ink because of medicaid going like this, 74 Million People enrolled and the costs are escalating. Its far more entitlement crisis than medicare and this bill provides a solution to that. Stuart it slows down the rate of increase in medicaid. And provides incentives for states to pend money more wisely on medicaid, delivering care. Stuart summing up, if your opinion, this is Obamacare Repeal and replacement. It is and its step two. Step three is the conference between the house and senate and bringing a final bill to the president s desk and dont let those members of congress go home until they do it. Stuart all right, betsy, i think we know where you stand. Thanks for joining us. Check the futures market, where are we going when the market opens in 23 minutes . Ill tell you, well be pretty much dead flat, maybe a slight loss for the dow industrials, but the s p up a little. More retail ice age. Look at this, bed, bath and beyond theyre going to be way down at the bell. Weakest sales, that is the retail ice age. Bed, bath and beyond, 10 lower. And the restaurant chain sonic, thats going to be done. Pretty much the same story, weak sales as well. Theyll be down 2 . Thats sonic. How about the price of oil. At or close to a 10 month low. 42 a barrel this morning. That means, and i think im going to be right on this, gasoline is coming down. Woo hoo . Stuart thank you very much. 2. 27 is your national average. Cheapest states for gas, South Carolina, a buck 94. Oklahoma, buck 98. And alabama 2 even and gas buddy tells us the cheapest gas in the land a food mart, oklahoma city, pick up a gallon of regular for 1. 68. You know what . What. Stuart im going to be right. Stop laughing. He he said one week from today it will be 2 and lower. Liz does that mean youre getting in the van and dreefg dreefg driving there and going to mcdonalds for your 60 cent cup of coffee. Thanks, weve had production falling, thats why oil is up today. I wouldnt head to mcdonalds yet, id wait until next week. Stuart welcome to the show straight ahead. [laughter] ive got to get back to politics because thats what were about, politics and money. President trump speaking about nancy pelosi on fox and friends this morning. Roll tape. I hope she doesnt step down. I think that it would be a very, very sad day for republicans if she steps down. Id be very, very disappointed if she did. Id like to keep her right where she is because our record is extraordinary against her, but well see what happens. There has been a lot of talk about her stepping down. Well have to see what happens. Stuart byron york, youve got to laugh, but you tell us, how long do you think that nancy pelosi lasts . The president is pelosis biggest supporter. We know a lesson from the georgia six race, republicans to came down working on that race believing the attacks on nancy pelosi, their attempt to collect john ossoff to nancy pelosi were very, very effective. They think that the democratic brand is just toxic in some parts of the countries and nancy pelosi is the personification of that. You heard some republican consultants saying, please, nancy, dont ever retire and the president doing a little bit of trolling right now, but there are democrats who are unhappy with nancy pelosi, kind of agree with republicans, and we saw a very defiant nancy pelosi yesterday saying im not going anywhere. Stuart were going to run that sound bite later because it was frankly extraordinary. Byron york, thank you for joining us, have a nice weekend. Thank you, stuart. Stuart coming up, instant million fairs millionaires created overnight. Nba draft. 16 College Freshmen taken in the first round. Instant millionaires. How much Kim Kardashian made, 14 million. Well be back. upbeat electronic music im living that yacht life life, life top speed, fifty knots life on the caribbean seas its a champagne and models potpourri on my yacht made of cuban mahoghany gany, gany, gany, gany watch this friday morning, 9 14 eastern time. Where is the price of gold . Ill tell you, 12 57 up eight bucks in the early going. A new director of the star wars movie, the last two quit very suddenly. Who is it . Its ron howard. Its an interesting choice. Hollywood veteran Academy Award winner, but look, this is going a create a production delay for this. Its the untitled han solo film. And there were creative differences, the death nell. Disney has put in a lot of money in the star wars movie, and the spinoff for the merchandise, youve done those segments before. Theyre looking for a 2018 release date for the unnamed movie. And two films have been shot and switch directors from two millennials to ron howard. Stuart i wonder if the series has run its course. Has the franchise run its course . Tired out . It might be. Stuart thats what happens in old age. Yesterday, President Trump hosted a tech summit, much of it was about drones. The ceo of the Drone Company called measure, he was in meeting. So, welcome to the program, good to have you with us. Good morning, stuart, thank you for having me. Stuart this was all about new emerging industries, drones being an emerging industry. Give me a list of how you use drones in your company measure. Sure, well, measure is one of the largest Drone Service operators in the country. Were working directly with the fortune 500 in a couple of different verticals, Energy Infrastructure and hold on a second, that doesnt mean anything to me. Are you telling me that drones fly around cell towers to check it out. Were driving around cell towers and taking 3d models for verizon and at t and preventing folks from climbing up on the towers. Its a very dangerous job. Stuart okay, pipelines, checking solar panels, that kind of thing. Anything you can do from the air, you do, i take it. Youve got it. Were working right now with a companies, one of the largest Power Companies and were identifying dead panels, improving the process and saving money. Stuart can you tell me the growth rate of your business at measure . Weve been growing since june of 2014 when i founded the company with robert wolf. We have about 50 employees now, office ins d. C. , los angeles. Its a growing business and i think as the president said yesterday, its about hiring more pilots for us, and actually making sure the pilots are vets. Stuart but you want regulations, dont you . I mean, its kind of a loose area at the moment. If youre going to really expand, you want to know the rules going in, is that your position . Yes. I think that as a company, we always have a safe legal and insured standard training our pilots to be the best they can be and be professional when theyre out there. We often time exceed f. A. A. Regulations. Were looking to do things beyond visual line of sight operations which we cant currently do. Stuart after the meeting in the white house, do you think are going to get that flexibility from this president . I was very impressed, the president was there, the vicepresident was there, the secretary of commerce and deputy secretary of transportation was also there and spent hours talking to people like me, drone experts about what we can do to make those regulations more flexible, grow the industry and make sure america is number one when it comes to drone. Stuart real fast, you dont make the drones, you use them as a service. Who does make them . Are they made in america . Sure, there are companies that make drones in the United States and also in china that make drones. If you look across the industry, there are thousands of Companies Making drones right now. We use the ones that work best for our customer. Stuart all right, brandon declet, let us know when youre going to do an ipo. Sure. Stuart so youre going to do it ipo . Not enough time for that one. The question, is amazon getting too big, too powerful . Later this hour, a guest who says the company could be a monopoly. 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Classic example, retail ice age. Rook look at bed, bath and beyond, opening with weaker sales. Instant millionaires, 15 freshmen taken in the first round, thats a lot of instant millionaires. The raiders quarterback derrick carr agreed to a five Year Contract extension worth 125 million over the life of the deal. The important part, the young man gets a 40 million guarantee at the signing. No matter what, he makes 40 million. Kim kardashian, her new makeup line sold out in under three hours. 300,000 kits sold, an estimated revenue intake of 14 million. Nice work if you can get it. Yesterday, we had commerce secretary wilbur ross on the show. I asked him about amazon, is it getting too big, too powerful . Here is what he had to say. Roll tape. I havent seen anything that amazon has done that would qualify remotely for antitrust consideration. Stuart and thats what a lot of people say. You cant get them on the antitrust rules, but i wonder if there will be a political kickback with their power. I dont think so. I agree with the secretary on the point theyre getting into different businesses, but i dont see conflict, especially from any kind of government action. Football and food. You buy whole foods, youre going to stream football, those two do not overlap with each other except in our home in a very good way. Stuart you could say their online selling dominance is a form of min monopoly, but thats a bit of a sketch. Liz i agree with cheryl. You can see the eu going after amazon at some point theyre all about private Small Businesses, they dont like it when they have big American Giants coming in and stomping on their businesses and they hate that, but amazon is so big, even fed president of the chicago fed Charles Evans says were now looking the an amazon because its keeping inflation though in groceries and retail. Were talking about deflation. The fed, remember, they want to hit the 2 target of inflation in order to raise rates. If amazon is that big and powerful force to keep rates low, inflation low and then rates low, Interest Rates low by the fed. Stuart thats fascinating. Liz a big deal. Stuart a fed president mentioned amazon as a way of keeping prices down and that factors into Interest Rates . Im going to add one more thing and i know we have to go. Its great for Small Businesses. No better way to get your product out there than to amazon than a huge audience. I think its a winwin. Stuart where were going to open the market in four and a half minutes time. Down a fraction on the dow industrials and on the other indicators as well. The price of oil is going to be important this morning. Still around 42 per barrel. Not great for stocks. It would be terrible if it dropped further. But we will open that market just over four minutes from now and youll be there to watch. Here comes the fun with seadoo starting at just 5,299 and up to 500 rebate visit seadoo. Com today at crowne plaza we know Business Travel isnt just business. Theres this. a bit of this. Why not . Your hotel should make it easy to do all the things you do. Which is what we do. Crowne plaza. Were all business, mostly. 30 seconds to go on a friday morning before we open up this market to close out the week. Yesterday, we closed at 21,397. About 100 points shy of the alltime record high. Not suggesting well get close to that today and we will actually open on the downside. We

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