Me just now. We are going to be closing up more than 200 points. Margie from Wells Fargo Funds Management joins us, so does michael from destination Wealth Management and joe greco will be with us in a few moments here. Rick santelli is staying late as well with this rally here. Ready to go, joe . Yes. What do you make of the rally . I guess when republicans want to peek past what is involved besides a tax increase, that signals a compromise. So, the markets say, hey, maybe theyll work things out in washington. The unfortunate thing is this lift today will be met with more selling as we get closer to the holiday and the long weekend. This is not a new phase here you can look at volume, behavior of the trading and it looks like well have a little more of a lift. Weve broken through a level that held nicely. Started to lift onto the tail end of the day. I think if we can get a little closer to the tail end, but toward the end of the year, well test higher. Do you believe this is a rise above rally . Do you believe it wont hold . Its going to be very choppy. What bill mentioned about the 200moving day rally, theres a sentiment when the market gets to a certain point, were starting to see that, certainly with the clients were talking to. Yes, huge fear about the fiscal cliff but also is in the back of their mind fear about missing rally. Theyve already missed the rally in many cases. Clients that have been sitting in cash. I think there is some bounce on this market. Whether or not the market will go back to the highs it was at before, i think thats a business suspect. Of course, it all depends on negotiations. I think there is an underlying fear if this market gets away from us. I think its what you saw with apple. Apple has become a proxy for this market. A huge rally, best since last april. Out of correction territory. Look at that, 7. 3 gain for a stock that is 565. Once again, rick santelli, what did you make of todays action . I havent seen the tenyear in the last few minutes but i dont know if it sold off commensurate with the rally in stocks but what did you think . It didnt. Thats one thing that has to be factored into the equation. Certainly three basis higher than 158 friday. Global stocks coming into our time zone were a bit higher. After existing home sales, the National Home index, builders index, being the best level since may of 06, all of those contributed to even more upside in stocks, which made sense. The treasuries, call them party poppers, but they virtually havent moved the last three hours. Interesting. Margie, what are you telling people here as we wait to see whether or not theres actually going to be some kind of resolution to the fiscal cliff . Do you tell people to get involved . Do you tell them to wait . What do you do . I think we may have a little more correction. I think weve had some selling to take advantage of lower Capital Gains rates and people just concerned about all the negative news out there. Bottom line, when you get into 2013, so little competition from riskfree treasuries compared to the cash flow and equities, you really have to look for where you can find those sectors with a little sustained growth in a low growth world. Very selectivity. Where are you finding them . U. S. Based companies. Im looking for Companies Whose primary operations are in the u. S. As opposed to emerging markets xhshgs is how i felt for the last few years. I think sectors such as pharma, specialty and big pharma, i think reit sector is very interesting because they can take advantage of the low treasury rates, and i think in the tech space there are a few opportunities but very selective to a handful of companies. Im going to look at you here, joe. Bellwether stocks and what they say about the nature of the market. Years ago ibm was the bellwether stock. For years general electric, our former parent company, was the bellwether. Now apple is with this huge rally today. I know youre a little skeptical about what this rallys employ tod about today. But do you follow it . I think everybody will agree on the cause but its the longevity is where i take issue. Apple will remain a proxy just because it has, obviously, enormous cash hoard. People are talking about what the dividend will look like. Is that going to grow . Plus were only a few week as way from the retail spending going to go into all the new products. Thats a perfectly positioned stock. I really want to have one more argument. The president has said he wants to bring jobs back on these on this soil. In doing so, the price of labor has to go up. Thats going to be handed down to the consumer. Everything is going to get handed down to the consumer which will drive up price, which is most lickly going to drive up the gross of sales. Can we talk about apple again. Have you done any Technical Analysis of it . Lets bring up the oneyear chart again. I think a lot of people look at the steady decline, the correction we saw, then see it rise today. Maybe start to get nervous and think, oh, that was the moment to get in and now this could feed on itself. Have you looked at apple lately . We look at apple all the time. I bet. If you look at the last time apple went down to 560, 570 is when they missed earnings. Whats happening with apple is they cant sell enough product because theres massive supply. If you go to the stores right now, shockingly, people are still lining up at 5 00 in the morning to get the iphone 5. I was in shanghai three weeks ago and people are lining up to get the iphone 5. Its essentially what happened when the iphone was delayed when their earnings would hit negatively for a while until they released the product. What do you make of apple and what it says about the market right now . Its easy. Its the piggy bank trade. The fiscal cliff is when do you want to play defense . When you play defense and crack the piggy bank, its the stock thats widely held, has the most positive cash in the trade. So, those are the big stocks id watch to continue to be vulnerable once Congress Comes back. You must have an opinion on apple . I think its addition i own it in my fund. I have a modest position because it has all the volatility and hopes and dreams of the whole marketplace so i like a modest size position but it doesnt have any competition so the price you make in apple is to have the volatile base. We started on the markets and an apple seminar broke out. Thank you for joining us. I love that phrase, it has all the hopes and dreams of the marketplace. Thanks, guys. Confusion over the fiscal cliff. For every pessimist who thinks well go over it by years end, there is an optimist who says well be able to avoid it and stop running this video thats very noisy. Well discuss fiscal cliff scenarios next and help you decide what to do with your money. Its so old thats super8 film were showing. Later, speaking of the fiscal cliff, Companies Like wynn resorts are paying special dividends now to help their investors avoid higher tax rates later, meaning next year. Well go through the list of Companies Jumping on that band wagon. Later, can the twinkie be saved . Well have the latest on hostesss brand bankruptcy plight. Really weird twist. Stay tuned for that. Huge development in the last hour. Wait until you hear what a rank and file union member has to say about choosing between the deal that was offered or the unemployment line. Youre watching cnbc because we are first in business worldwide. See, they make them. Are they baking i thought they were like styrofoam injected. Maybe New Buildings . What about updated equipment . They can help, but recent research shows. Nothing transforms schools like investing in advanced teacher education. Lets build a strong foundation. Lets invest in our teachers so they can inspire our students. Lets solve this. Thank you, mr. Speaker, uh, members of congress. In celebration of over 75 years of our Government Employees insurance company, or geico. As most of you know members it. Congress. I propose savings for everyone im talking hundreds here. And furthermore. Newscaster breaking news. The gecko is demanding free pudding. And Political Parties that are actual parties . With cake and presents ah, that was good. Too bad nobody could hear me. Geico. Fifteen minutes could save you fifteen percent or more on car insurance. Welcome back. Some retail earnings out moments ago. Bertha coombs has the latest our ban outfitters. Missing on the bottom line, reporting 40 cents a share. The street was looking for 41 cents. Revenues were more or less in line at about 693 million. The same store sales is where they missed. Expectation was for better than 4 . It was actually down 1 . Although, their online business, direct to consumer, was strong, up 36 . But those stores apparently did not quite make the grade. Back to you. Looks like it. Thank you. Stocks otherwise rallied today on hopes that lawmakers may be able to reach a deal on the fiscal cliff. Before the end of the year. If youre keeping store, and i know eamon javers is, 42 days before. Eamon javers is on capitol hill with the latest on the cliff talks. That looks like an empty hallway. Reporter we wanted to bring you some action on capitol hill. As you can tell, not a whole heck of a lot going on on capitol hill even though were just 42 day as way from the fiscal cliff. Were on the senate side but congress and a lot of staff are already off on thanksgiving vacation this year. The president is in cambodia on a multistop overseas trip in asia. Behind the scenes, believe it or not, even though this corridor is empty, there is actually work going on here in washington, including by the president of the united states, who called a bunch of ceos over the weekend before he left on his trip and take a look at thanksgiving week here in washington and get a sense of who he called starting with jamie dimon, tim cook of apple and warren buffett, for insights into where they think we should be going in terms of the fiscal cliff. Hill staff tell me theyre putting numbers on paper here for what could be a fiscal cliff deal. They want to get those numbers and prospective ideas to the principles, the members of congress themselves, before thanksgiving so they can review it for expected white house negotiating session after thanksgiving. Of course, outside groups throughout washington are mobilizing here, including labor groups, which have announced that theyre launching a fivestate, sixfigure television ad. Theyre going to campaign and take it to the people. They want to send a message of protecting medicare, medicaid and social security. Those groups mobilizing, groups on the right mobilizing, antitax groups mobilizing. Theres a lot of stuff going on behind the scenes in washington. Oh, boy, more campaign ads are coming. Thats good for our bottom line. Ill take that. Its good for our bottom line. Bad for the eyes and ears. Eamon, last man standing in d. C. , thank you. Lets talk about investing when it comes to the fiscal cliff. No matter what you hear out of washington, stan collins says dont buy it. He says the rally on wall street based on constructive talk out of lawmakers is misguided. He feels were a long way from any kind of a deal. Cnbc contributor zachary disagrees. Hes more optimistic about prospects for a deal and equity markets. Im going to start with you, zachary. Why do you why are you so optimistic regardless . First of all, its optimism of unless you can provide me with the perfect crystal ball that says you know the outcomes of a negotiation that is doesnt have a lot of precedent other than the debt deal last summer, ill take that crystal ball. I dont think any of us have that. Gaming out these probabilities of, you know, a 55 chance we go off the cliff. A 70 chance, 30 . I have no idea what the probability is, nor does anybody else. I just think that january 1st is not drop dead. Congress could pass a bill on january 20th that grandfathers back to january 1st, whatever presumed harm goes for that three weeks. Two, i dont see this situation remaining permanently unresolved for the next year or year and a half. So, youre optimistic something gets done. Stan, why are you so negative . Especially when were putting our handses in the future of a committee of politicians. First of all, zachary just made my case. He was saying hes not sure its going to happen by january 1st, because it doesnt have to. Hes exactly right there. But constructive, that word is what got wall street to rally. Thats like listening to Henry Kissinger say, i can see light at the end of the tunnel when he was talking about the vietnam negotiations. This was a statement or statements that was probably drafted in advance, that means nothing. Nothing has changed on the politics. If you listened over the weekend, the democrats and republicans both retreated to their respective corners without any indication that theyre willing to move towards the other side on spending or revenues. Do you think that were do you think were then going back to to that period in august of 2011 that zach was referencing earlier when there was all that rangeli wrangling over the debt ceiling, huge volatility in the market, and when all was said and done, nothing got done. Do you think were headed that way again . It could be worse. The debt deal set up the fiscal cliff with the promise debt reductions would occur. Now we say we raise the debt ceiling and deficit reductions may not occur, should not occur, in my opinion. Why would you think if they set up a twostep process now that were going to get any more out of the next twostep process than we got out of this one. Zachary, i agree i think a lot of people look back on that august time period that bill is referring to and say, oh, that could happen again. But what a lot of people forget is that was the very same weekend italian yields were approaching 7 , we were live in rome at 1 00 in the morning when trichet was trying to save the world in europe. It was their lehman moment. Presumably but at least theyve solved the debt crisis in europe oh, no, wait, they havent. The ecb is in a very different place than they were at the time. Political dynamics have changed in washington. Whether you like it or not, they have dramatically changed in washington. We had a status quo election. We had a election that returned more democrats in the senate, republicans lost eight seats in the house and the temperature of politics in washington did change. Youre right. It wasnt a dramatic election compared to the past. You know, the other part is, investors have to game out the difference between shortterm uncertainty and longer term trends. Europe may not be fixed. Its not going to be fixed for years. But its not a proximate crisis like in august. Chinas growth trajectory is growing. America is on a pretty solid path. I think that has to be the aperture through which you make these analysis. Im not all into anything because, yes, theres uncertainty out there. Companies are making money. Multiples are compressed. They tend to expand when revenues go down. I think there is good reason to be in this market. To put a fine point on it, stan, you wouldnt buy this market because youre fearful of whats going to happen in washington . Well, i would say theres a good argument to be made for timing the market. That is, if youre expecting, as i think is going to happen, the markets going to react or overreact after we hit the fiscal cliff and go over it. Do you think it will go down . Yes, i do. But it will be emotional as opposed to substantive at that point. Zacharys right, this will be recoverable shortly thereafter. If we go over the fiscal cliff, its like the peasant storm, the castle with pitchfork strategy. And then this will all be fixed retro actively. Ill meet with you my pitchfork, okay . A little pitchfork party. Thanks, guys. Elsewhere, walmart is trying to prevent workers from protesting outside its stores because they need to work on thanksgiving. Of course, this is expected to be its busiest sales weekend of the year, as it will be for all retailers. The latest on the battle between walmart and its employees who they say they deserve to have thanksgiving day off. Coming just ahead. Up next, whats happening in vegas is not staying in vegas. Wynn resorts the latest company to pay a dividend to help investors avoid higher tax rates expected next year. Who else will do the same . Is it wise to make a big move like this . We arent sure what the tax laws will be. Plus, ac dc finally caves. The legendary rock band has just now allowing its music to finally be downloaded on itunes. I have been waiting there you are. Wait until after the show. Well be playing you some of the music you can now pay for digitally as we head to the break. This is my favorite ac dc song. Do you know the title . Head banger. I dont know. 4 [ male announcer ] at scottrade, we believe the more you know, the better you trade. So we have ongoing webinars and interactive learning, plus, inbranch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. Our teams have the information you want when you need it. Its another reason more investors are saying. [ all ] im with scottrade. Or that printing in color had to cost a fortune. Nobody said an allinone had to be bulky. Or that you had to print from your desk. At least, nobody said it to us. Introducing the business smart inkjet allinone series from brother. Easy to use. Its the ultimate combination of speed, small size, and lowcost printing. Walmart, the latest company to move its dividend up, pay it early to avoid big tax hikes triggered by the fiscal cliff maybe. Brian shactman has details. By now you know the drill f we go off the cliff, tax rates on dividends could swing from 58 to 40 . That possibility enough for a lot of companies to issue special dividends or move up payout dates, which is what walmart announced. Instead of paying out early in 2013 the 40cent dividend will be payable on september 27th. They said they did it because they recognized there were complex fiscal and federal tax rate issues that may not be resolved in the next few weeks. You might recall casino magnet steve wynn announced a special dividend, before the election. Goldman sachs wrote about this early in the fall, actually naming wynn as a candidate for this. They also noted its more common for these things in q4. Goldman didnt just nail it on wynn, they called it with franklin resources, transdigm and western refining. Well watch them in the new year, if no deal is made, of course, bill, walmart up about 1. 5 . Back to you. Brian, thank you very much. Lets talk about this. Many expect vinnesteto see thisf the looming cliff. Is it wise or investors to try to buy stocks guessing on what the dividend tax will be coming 2013. Michael, you dont think this is a good idea, these Companies Bringing the money forward. Why not . Why not help out an investor . You know taxes are probably going to be higher come january 1st next year. Why not give the money snerl. I think a bad idea to take the money forward. If you take the money out of wynn and take the 750 million out, if you believe in trickle down economics will get back in the economy but thats 750 million in cash that wynn resorts doesnt have internally to go out hold on. We have a second with your microphone. Well get that fixed and go to lee first. I think he said something, but well get back to him. Lee, you argue investors shouldnt be playing into these special dividends. Not at all. We dont know what the taxes will be. I thought walmart and steve wynn is a perfect setup. Walmart is a nobrainer. They move it back a few days. They dont need to know anything. Its immaterial. Steve wynn, thats where we to want ask him, do you to want save 20 million on taxes . Are you that secure your credit will be so great youll be able to borrow next year if you need that cash . Or do you to want ask steve wynn, do you not have anything to invest in because 2013 is going to stink . Those are the questions i want to ask. I think giving money away, i think its great. Why should corporations keep all this cash . Make them lean and mean. The way youre dividing it, if you were going to give the money anyways, why not move it up, but you question if they were going to in the first place . Heres the thing that bothers me a little bit. It wont be until next year we know did that ceo if youre a ceo, think about it, you get an out, you goat say, im grog give this money back so the tax man doesnt steal it from you versus saying, im unsure about what my capex is going to be because of a european recession. That sounds weak. That sounds like you dont know how to invest money. To say its to save taxes, hey, you have pressure off you. I think we have Michaels Mike fixed. Is it working . Hello, guys. All right, michael n the house i was brilliant before, by the way. Im so sorry. You want it word for word. I said most everything lee just said. But the thing that i would add at this point, too, if youre an individual investor, even if youre one of these big steve wynn big wigs, ive seen more people make profoundly stupid mistakes by making Investment Decisions based on tax ramifications. It will screw you up over and over again. If you have a good investment, you stick with a good investment. It doesnt change just because the tax rate changes. Yes, if you go from the 20 to 40 15 up to 46point something percent. Thats a big deal on dividends and other things. But if you have a company thats growing earnings and making good investments, those companies you stick with. So but wait a minute the idea about you have to question, does the company have Something Better to invest in i get that. Or do they just need the cash . But if im somebody living off these dividends, i rely on this income and my taxes may go from 15 treatment of that Dividend Income to 40 next year, am i hurting myself by taking that early dividend, even if it doesnt go to 40 next year, michael . I dont think you ever hurt yourself by taking a little cash off the table if do you that. I think more the question is, you know, you dont have a lot of choice. I mean, yields stink. Dividend yields, even though theyre high relative to bonds, theyre still no good for folks relying on income. The tax burden we hope on that middle class investor is not going to go up. By and large, if you can take the cash at a lower rate and you have something to do with, it thats not a bad thing to do. All right, guys. Lee and mike we have some consensus somewhere in there. Somehow we did. Could be an 11th hour save for twinkies, and wonder bread. The latest on a shocking decision by a bankruptcy judge today. Plus, a rank and file member of the bakers union is here. If the union allowed a vote on the deal, would the strike be over . I cant wait to talk to him. Later, does walmart have a case . The retail giant trying to prevent its workers from protesting outside its stores because they dont want to work on thanksgiving. Well have the latest developments on that continuing, evolving story as well. Later, nintendo is out with a new video game console it hopes will be a game changer this holiday season. Well talk to the head of the u. S. Division dwigs about whether it can play catchup to microsoft. Pisanis ours. You are a bus. Governor of getting it done. You know how to dance. With a deadline. 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. This is awesome. [ male announcer ] yes, it is, business pro. Yes, it is. Go national. Go like a pro. [ male announcer ] this is karen and jeremiah. They dont know it yet, but theyre gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, theyll find some retirement people who are paid on salary, not commission. Theyll get straightforward guidance and be able to focus on other things, like each other, which isnt rocket science. Its just common sense. From td ameritrade. We have breaking news regarding jpmorgan. Kate kelly has that for us right now. After a relatively brief surge jpmorgan has gone ton to name a new chief financial offer and named Mary Ann Lake who runs their community and banking group. Theyre divide into major divisions. Mary ann lake has been with the company for a number of years. She was the controller of the Investment Bank previously. Shes been running consumer and Community Bank for a couple of recent years and now cfo starting in the new year and join the companys operating company. Lake succeeds bronstein, who was cfo in recent years and decided recently he would step down, possibly go back to Investment Banking where his roots are, or possibly do something within or outside the company. Those details are not clear yet but what we do know is jpmorgan is going to have its first im sorry, second female cfo. Thanks so much. Female cfo. Were getting somewhere, bill. Thats a good thing. You want me to do this . It says your name. Bertha coombs has all the numbers for us. We did set some benchmarks. We did. It was a great day. Were calling it the rise above rally today. It was a broad rally. Everything back in the black today. Or in the green we like to say when we take a look on the screen. All the major averages moving higher. Dow having a great day. All 30 components finishing higher on the day. You also had the s p. The nasdaq was the outperformer. The nasdaq 100 in particular. One of the reasons was apple. It was among the best performers of the day. Tyson had a fantastic day after earnings beat the street handily on the bottom line, 55 cents versus 45 cents even as revenues came in shy, driven by pork exports. Apple having a strong day, abercrombie with a good report as well. Apple accounted for about 14 of the move up today in the s p. It accounted for a third in the nasdaq composite. With todays recovery, up only about a week high, but with todays up, it moves out of the bear territory, no longer down 20 from the alltime high of 700. A lot of funds cut exposure on apple according to that at the end of the Third Quarter so they locked in some of those gains. Well see if theyre coming back in now. Thats exactly what i was wondering. You wonder how much was selling ahead of the fiscal cliff to lock in Capital Gains, right . What we were just talking about last segment. Now you can get back in. Another big talker today, twinkies big developments in the battle to save the twinkie. Hostess and bakers union agreeing to mediation because the judge asked them to. Kayla joins us with details and what it all means. Michelle, the judge asked them to basically in the name of the 18,500 jobs that are on the line by liquidation, but right now its pretty much a waiting game. Hostess and bakers union will have the private mediation with the judges supervision, basically a counselor, helping them to reach an agreement. That starts tomorrow at 1 p. M. In white plains. Its an attempt to reach an agreement over wage and pension cuts the union voted against. If they reach an agreement tomorrow, liquidation is off the table. If not, the judge will reconvene that hearing for wednesday. Now, in the case they start shutting down, several buyers could be on hand for hostesss assets like the twinkie and wonder bread brand, according to people familiar with the matter. Sources say some two dozen parties have made inbound calls to the Company Since the announcement friday it would liquidate. Usual parties group, flower group among them, as well as several Snack Food Companies and supermarkets. They all to want save hostess. The problem is, guys, they think hostess in its current state, the capital structure is too own russ and has the unionized issues f issues. If you capital reach an agreement, what would a new buyer do with them . We should know within the next 24 hours who will be the new owner . Do you think it can be resolved in the next 48 hours . The judge has given them a single day to have mediated talks before they reconvene on wednesday. Given the angst, given the complicated nature of the business, given the travails of this company, do you think they can sofl it in a day . I dont know. They declared bankruptcy for the second time in january of last year. At their time their advisers put all hands on deck and tried to sell the company then. They ran a full process, im told 40 parties were involved and couldnt sell it then. Just because were in the 11th hour now, its hard to figure out how this, you know, longstanding process that could not get resolved over the last 11 months could get resolved in a day. It certainly is, you know, a Pressure Cooker type atmosphere. We hope it will get resolved because of those jobs. At this point, its unclear how that would actually happen. Exactly. Kayla, thanks. Good stuff. Let us know if you hear anything in the meantime. Were anxious to meet the next guest, mike hummel, a member of the bakers union who used to work at a wonder bread factory. He was absolutely convinced his job was not worth saving after reading the terms of the latest deal that was on the table from the company. Now, mike is joining us to talk about this. Now that theyre talking again, and youre out of a job, you were as of friday f im correct on this, would you be willing to go back to work . Would you welcome your job back if these two sides can come back together again tomorrow . Well, of course. Love wonder bread. I would love to make this job last for me and all my coworkers. It would be great. What did you mean it wasnt worth saving . And you didnt to want take the deal that was on the table. Well, right. The deal they put on the table it would have left us in poverty. It was a fiveyear contract and by the time the five years was up we would have been in a horrible state as individuals. The job i had was great. It would be hard to replace, no question. But the job theyre trying to give us, the contract theyre trying to force on us, i can replace that job all day long. You know, theres they want to turn it into a, you know, a bottom of the barrel type job where you cant support a family. Im not willing to help them do that. What if do you know what necessity i was going to say, they would say that the company cant survive unless they cut wages by that much. You dont believe that . No. They lost over 100 million a year for almost a decade or Something Like that. They lost 341 million last year. The concessions theyre asking for for us are only 190 million. Theres still 151 million in the hole. My problem isnt that we have to accept concessions. 4 its that i dont believe in this company as a as capable of getting us out of bankruptcy and creating a quality product. I mean, theyre really just interested in selling off the brands without the union labor costs. Thats all they really want. This isnt a company trying to make bread and make a profit. I mean, these are hedge funds trying to liquidate us. Behind closed doors, theyre saying the teamsters wanted this and that the bakers went rogue and blew off the teamsters. Whats wrong with that narrative . Thats what theyre trying to convince everyone. Thats a load of junk. The fact of the matter is at the bakery on a daily basis when we were meeting with teamsters in the break room hanging out on a normal day like we would see a guy in the hallway or whatever, you know, there was no battle between the teamsters and the bakers about how this should play out. It was pretty much well known that everyone was going to turn this down. Then when the votes came in, the teamsters were on had voted the other way. Theres a lot of you know, i think, frankly, theres some questions about that. I have yet to meet a teamster that thinks this was a good idea. Lots came out and stood at the corner with us. What are you doing in the meantime . You got another job lined up . What are you going to do . Ive been looking at jobs online today. You know, and then also i applied for unemployment yesterday. Well see how that plays out. I dont i dont have a clue. Ive never been on unemployment. I hope not to be for very long. If theyre going to mediate, then perhaps we can find something that will get us back into place, but the fact is, they steal money out of my hourly wages. Im not willing to allow them to do that. I mean would you work there if you were a nonunionized company . Heres the thing, is if they were to sell us to another company, i would negotiate or consider being nonunion with whoever it was. And i would understand that i probably you know, there would be cuts involved. Im not willing to give those cuts to people who all they really want to do is sell us on the auction block. Frankly, have been stealing money from me. I dont know about you, but im not going to make a deal with someone who steals from me. They did load the company up with debt. Well, yeah, they did that. Exactly. Exactly. Thats her point. Right. Well, people dont understand is that we pay our own pension. Im not saying the companys never put any money in that, but we pay it. We contribute over 3 an hour. To our individual pensions that the company they take that money and they reroute it to our pension program. In july of last year, we received a letter, i think it was july, that said, sorry, were going to borrow that money and its over 3 an hour. Its technically over 4 an hour because we also pay how much did you get paid per hour . Before that how much did you get paid per hour . Okay. My takehome was 16. 12 an hour. I made 16. 12 an hour on a normal day. That would be what i take home. You know, like thats theres its technically over 4 that we contributed. So people are saying, well, you guys make 20 an hour. I contribute 4 of that to my pension. And the company decided to keep that money. Its not that they stopped paying my pension. Its that they collect my pension money from me and then they dont send it to the pension. I dont know why you cant have a negotiation with someone you cant trust what what they say. If they steal from you, you cant trust what they say. Its not terribly complicated. Mike, you sound like a very smart guy. I know youll land on your feet no matter where you end up. We certainly hope it works out well for you and we hope you have a good holiday. All right. Thank you very much. Thanks. Mike hummel. Thanks so much for coming on. I mean, that is the face of the story right there. Thats what were talking about. We all joke about twinkies and hohos but 18,500 jobs on the line with that story. Moving on to something very different. High hopes for a company for their new hardware. Nintendo is launching a new video game console in time for the holidays. Well speak with the head of the West Division about its potential to leap frog rivals microsoft and sony. Look at pisani there. Thats why he hasnt been talking about the stock market the last hour. Plus, happy thanksgiving or not. That labor fight between upset walmart employees and the retail could get ugly before the key black friday weekend. We have the latest on that story coming up as well. A little ac dc as we head to break. A Business News connection. The aussie rock band ending its apple boycott. No wonder the stock rallied. Ac dc going to license the entire catalog to appear toll make its songs available on itunes. Back in a moment. Back in black n you take a clos. At the best schools in the world. You see they all have something very interesting in common. They have teachers. With a deeper knowledge of their subjects. As a result, their students achieve at a higher level. Lets develop more stars in education. Lets invest in our teachers. So they can inspire our students. Lets solve this. Can i help you . I heard you guys can ship ground for less than the ups store. Thats right. Ive learned the only way to get a holiday deal is to camp out. You know weve been open all night. Is this a trick to get my spot . [ male announcer ] break from the holiday stress. Save on ground shipping at fedex office. 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Tdd 18003452550 call 18775615445 tdd 18003452550 and a global specialist tdd 18003452550 will help you get std today. Welcome back. Its the wiiu. Bob pisani, what happened to the stock market today . He doesnt know because hes playing im killing aliens. This is the future. Look at that one. Thats what im interested in. A game pad. They have married a tablet with the game player on the wiiu. It will never replace you are a swordsman, bob pisani. Joining us to talk about one of the hot games for the christmas season, reggie is the president and coo of nintendo of america. Good to see you. Welcome back. Good to see you. Youre launching it right before christmas. That makes sense. This is the wiiu, the entire proposition of the game pad controller, which youre using my intord. Which utilizes 6. 2 inch touch screen. The console itself, which is communicating with the game pad, communicating with the internet, this is our big new innovation we launched yesterday. Already well sold through in retail. Not a lot of stock left until we start replenishing in a couple days time. So that i mean, there will be more available for christmas. Well have more available on black friday in retail locations. What pisani is doing here reminds me of the kinnect for microsoft. With the kinnect, not a lot of games to play. The controller itself is a lot more precise which allows you to have these kind of experiences. Easy does it, bob. It also allows you to have a much richer multiplayer experience. Five different people, four on the remote, one person on the game pad. So theyre playing each other right now . This is news to me. Okay. This is a cooperative game. So, theyre playing together. Against the pigs . Against the pigs. The person with the game pad has theyre shooting arrows. With the remote hes using the sword. A few years ago when the wii was introduced, you guys were going to be a broader audience. Not the typical gamer. This feels more like youre going back to the gamer type now. Interestingly, were still going against this broad audience of 5 to 95. Were having a range of different experiences. Nintendo land is very much for that entry gamer, but it also has games like call of duty, mass effect, a lot of the more core games because its an hd system. Now were getting a lot more support from thirdparty publishers. Much broader pan of product you can do. Absolutely. Best of luck with us. Bob, how about the s p being above the 200day moving average . Did you see apple today . No, you didnt. You look good. Im looking forward coming home with a console today. I better. Well take a break. Come back with more closing bell in a moment. [ female announcer ] want to spend less and retire with more . Then dont get nickle and dimed by high cost investments and annoying account fees. At etrade, our free easytouse online tools and experienced Retirement Specialists can help you build a personalized plan. And with our no annual fee iras and a wide range of low cost investments, you can execute the plan you want at a low cost. So meet with us, or go to etrade. Com for a great Retirement Plan with low cost investments. Lets look ahead with 30 seconds on the clock. Our next guests are here to tell us what they think will move the markets tomorrow ahead of the huge rally today. Joining us is kevin cumins from uvs and tim moor from cavt money management. 30 seconds on the clock. What are you watching tomorrow . The focus in the u. S. Will be on october housing starts. Housing starts were exceptionally strong in september. Looking for a bit of a pullback in october partly reflecting hurricane sandy. Fed chairman bernanke is likely to at least hint that further stimulus is coming in december replacing operation twist with straight treasury purchases. We are going to be focusing on communications policy. Could be bernanke day tomorrow. Eric, what are you looking for tomorrow . Bank expanded asset purchases by 21 trillion over the past months and we expect them to pause on easing. We expect the yen to remain weak moving forward. We will be looking at the European Finance ministers meeting. Optimism has helped to support risk and the euro. You left 12 seconds behind. Last but not least, tim. We look to the continued overampplication of investors realizing that the market is not pricing in as much of the price increase. So we expect Retail Investors and hedge funds to start putting more money to work. We think the rally is sustainable into mid december when congress does it. We look to people sitting on the sidelines to come in and being active given the reward scenario. Our producers thank you. They can get out of the fetal position because we may get out in time today. 200 opoint day. Can the rally continue . Stick with us. If you think running a restaurant is hard, try running four. Fortunately weve got ink. 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Later that day walmart filed for an injunction with the national Labor Relations board to stop worker protests claiming the protests are recognitional picketing or with the intend to get walmart to recognize the union. The Walmart Group is getting advice from the united food and commercial Workers International union and says supporters like ufcw members are taking action to support walmart associates. There is nothing in the law that gives the employer the right to silence citizens. Walmart says attacks are unlawful and says they will protect their associates and customers from on going illegal conduct. An injunction is uch that it moves to the top of the list. The Agency Confirms it has sent representatives to gather affidavits from walmart officials. Once the information is gathered they will decide whether to file a petition for an injunction to stop the protest. This is very, very complicated. Oh, boy. Happy thanksgiving everybody. Thank you, courtney. So big rally day. The question is this the beginning of something or is it a oneday wonder . Dow higher by 207 points