Transcripts For FBC Varney Company 20130125

With dedicated chats and daily live webinars. And trade with papermoney to testdrive the market. All on thinkorswim. From td ameritrade. Were moving up to the east side you know, moving on up. I think thats appropriate music. And there is money moving away from high tax states and moving to lower or no tax states. And travis wrote the book how money walks, a pleasure to be here. Stuart weve got the fancy technology and the number one state where money is walking away. The number one state. Right here in new york, weve seen a loss the last 15 years Internal Revenue service and u. S. Census bureau combined. 58 billion out of the state. Stuart theres new york and 58 billion out. Going to the other places. Stuart is california second . Thats right youve got nearly 32 billion dollars migrated out. Adjusted Growth Income out of california to the other states. Stuart hold on, talking adjusted gross income. California 31 billion dollars worth of income, that means middle class, wealthier people, theyre the ones who moved out taking that money with them. Income out. Thats right, were looking at 1040 tax returns, taxpayer mobility and not just talking professional golfers or president s of state. Were talking about working families and all sizes of businesses and going all over the country. Stuart is there any evidence that california is speeding up, pushing out money . Im thinking of the mickelson story and the higher tax rates. Is there evidence that maybe that is speeding up in california . Well, whats fascinating here, people are doubling down. In the state of california this tax rate over the past 15 years, the exits were seeing is at 10. 3 top percent tax bracket and now, recently, this have they it. And states like arizona, like nevada and of course states like texas and florida that do not tax the personal income tax at all are winning and winning big in the past 15 years and stand to win even more in the future. Stuart ill get to that in a second. I live in new jersey, okay . Relatively wealthy high tax state. Put your finger on new jersey. There you go. Stuart its flown out. How much . And a loss of 18 1 2 billion dollars over the previous 15 years and a tax rate of just under 9 . Stuart and all of these red arrows are where the money is going, so new jersey people, literally people and income, theyre going to california. Theyre going to florida, theyre going to south carolina, going to north carolina, thats where theyre going to. Unfortunately for the state of new jersey what were seeing here is that only two states out of the entire country show a net positive. If this was a trade in the nfl only new york and michigan are giving positive trades to the state of new jersey. Whereas if you look at a state like florida, the largest gainer of all 50 states, 86 billion dollars have flown from these red states, generally to florida and only in a few instances will people leave florida where theres a low tax position. Stuart bring it down to english. Florida is the number one state where the money is coming in. All money comes into more money comes into florida than any other state. Number two, got to be texas. Texas is doing well just over 22 billion dollars. In fact, there are nine states that have a situation like texas and florida and those nine states are gaining a combined total 146 billion. The reverse the states with the highest personal income tax burden lost over 120 billion. Stuart the reason i find it fascinating, oklahoma, louisiana, kansas and nebraska be, they have all got proposals on the table to eliminate or sharply cut their satate income taxes and they want to join the florida and texas states and they want the inflow and its a very interesting local state tax debate thats going on across america. You wrote the book, didnt you . Thats right, how money walks and how money walks. Com. Its the perfect time for that to happen. Stuart thats the first time ive touched or looked at that technology up close. And here is a tax that could be coming to your state, a per mile tax, per mile driven. Revenue from gas taxes down because cars are more fuel efficient. Could they tax how many miles you drive to make it up . Well have that for you. Plus, were on an all time high dow watch when the market opens in just a minute. And looking at four big names you know and probably own, stay right there, those are the names, were on them. Twins. I didnt see them coming. I have obligations. Cute obligations, but obligations. I need to rethink the core of my portfolio. What i really need is sleep. Introducing the ishares core, Building Blocks for the heart of your portfolio. Find out why 9 out of 10 large professional investors choose ishares for their etfs. Ishares by blackrock. Call 1800ishares for a prospectus which includes investment objectives, risks, charges and expenses. Read and consider it carefully before investing. Risk includes possible loss of principal. [ male announcer ] how do you make 70,000 trades a second. Reach one customer at a time . Or help doctors turn billions of bytes of shared information. Into a fifth anniversary of remission . Whatever your business challenge, dell has the technology and services to help you solve it. All right. Good morning, everyone. The action in stocks is going to be centered on technology, especially the big names. It it always is centered on big Name Technology stocks, today especially and by the way, the action is probably going to be to the upside for the overall market in the very early going. The dow is 339 points away from its all time high. All time high, that is. 339 away. And futures are pointing to maybe a gain of 20, 30 points at that opening bell. And its coming up very shortly. We will have our attention very much concentrated on apple, any bounce at all. Microsoft, earnings yesterday disappointing, what happens there . All kinds of big Name Technology stocks which have been making the running for literally so many years, theyre going to be front and center when that market opens up and its now open and yes, the opening trend is a little bit higher. Early going, and were talking for a few seconds here and the dow is now at 13,831. Remember, 339 from the alltime high. Nicole, ive got to kick it off with microsoft. I own the stock of course, disappointing earnings yesterday, where does it open . Its down right now, down almost 1 2 of 1 and disappointing earnings, theyre obviously had windows 8 now and theyve done their launch, but this stock is loser over 52 weeks and weak sales in business and Entertainment Division and one area of strength makes you better in the core windows business. Stuart something going on with rim. Explain this, we put this thing on death watch. Forget it, look at it now, up 1. 8 tacked on the gains the last three months and were heard that Chinas Lenovo group is looking to expand and research in motion one of the many ideas. Stuart did you say rim, rim is up 130 in three months . Is that right. Yes, in exactly 13 weeks, yes, about 3 months, 130 . I think that was the day, we put it on death watch. Stuart cant say it, nicole. Nice run. Stuart the dow is up 29 points in the first minute and a half. 13,855. Look at apple. Remember, they were down 12 yesterday and disappointing Earnings Report and samsung reporting a record profit today. So, where is apple . 450 a share, barely budging after a 12 drop yesterday. Now, move on to look at boeing. U. S. Safety regulators say theyre nowhere near finishing the investigation into that battery fire on the dreamliner, and its still grounded, but boeing is holding. And im not going to call it a door stopper stock, its holding at 75. Back to nicole, tell me whats going on with starbucks. I was trying to see how much i paid for these things now, too. Okay, here is the point. The point is, starbucks people, in america, in asia, the higher traffic, higher sales, offset any costs that starbucks faces and they come out with profits, and its up 4 1 2 and looking to see how much im paying, 2. 50. And this drink was like 5 1 2 bucks. Stuart okay. And just, this is what im saying, theyre so expensive, for people go, people go. Stuart its so expensive, but you keep on going, dont you. Yeah, i like the chocolate, i like the caffeine, helps me get through the morning and be on Fox Business Network and nail it every time, now, what can i tell you. Stuart just keep the caffeine flowing on that, thats the way it goes. The dow is up 31 points at 13,856. That means were 300 points from the alltime high. Senator john kerry testified at his confirmation hearings for secretary of state yesterday and in his opening comments he warned that america will lose influence and power abroad if we cannot solve our debt problem at home. Listen to this. More than ever Foreign Policy is economic policy. I am especially cognizant of the fact that we cant be strong in the world unless were strong at home. Stuart hes right. This as the National Debt continues to soar way above 16 trillion dollars. In fact on track to hit 17 trillion dollars total debt by the fall of this year. Thats months away. And just when you thought you were working the system and buying fuel efficient cars to avoid higher gas taxes, think again. Lawmakers in two states, oregon and virginia, they want to implement a per mile tax for fuel efficient cars, for everybody, actually. Making drivers pay more for driving more. And in california, the toyota prius, a hybrid was the best selling car last year. Could a per mile tax be on the table for the formerly golden state and elsewhere . Joining us now is lauren, and lets bring everybody up to speed here. If you have a per mile tax, youre taxing driving, as opposed to taxing gas consumption. So, as taxes from gas sales go down because of fuel efficient cars, tax revenues need to go up and we do that by taxing per mile. I know this is a serious proposal do you think were gog see it nationally . I hope not. Thats a lot of reasons people bought eb cars and hybrid cars, bypass the gas tax, dont have to go to station often and plug it in, and some offer free plugin cars and nothing is free not even love, but theyre going to tax by the mile. Stuart do you what youre supposed to do. Youre a good person and buying fuel efficient vehicles and buying electrics and hybrids and saving money on the gas tax, but they get you coming and going. You cant win, can you . No. Actually what happens is, it makes common sense. You go to the pump you fill up and, for example, virginia, theyre charging 17 1 2 cents in sales tax on top, and on top of the gasoline use it it for roads, repairs and bridges. So, what happens if youve got more fuel efficient cars up 6 for 2012, that means and with the cafe standard being 54. 5, less tax money coming in, and you have two choices either tax by the mile or increase your sales taxes and use that money supposing that they really do, to repair a bridges and roads and a lot of people say, i dont own a car, i live in new york or washington well, you use Public Transportation and want safe roads and if thats the case then that money has to still come from someplace and its going to come from you the driver. If they dont get you one way they may get you both ways, may get new gas and charge everyone for the mile. Stuart you might think that the per mile charges replaces the gas tax, but not so. Youll end up paying both. And right now, is only that you pay per mile on efficient cars like the prius, and everybody else thats ow oregon first brought it up. Whats going to happen if they want to tax everyone by the pile, they have to have a gps or monitor or go by the honor system that youre actually going to say, yeah, i drove a couple hundred miles this year. Theyre going to audit that as well. You have to decide where the line in the sand is. If they monitor this or start putting in some sort of monitor in all the vehicles like theyve talked about doing, that means they know a lot about you and your driving and they can start taxing you for other things as well. Stuart give me your opinion, in my opinion is that sooner or later they will be tracking you with some kind of device that says how many miles youve driven. Do you think its going to happen . Yeah, i think so the black boxes are up, and up the black box law and 2014. If you dont like it, tell your elected officials not to vote for it to fight this, if not, every single car thats being produced today with exception to the german cars will have black boxes on them and they will get to know anything they want to know. Right now they collect 17 points of information, think, maybe youll start getting a ticket in the mail, you drove too fast we dont need the Police Officers there, stuart, you were driving too fast to work, ill mail you the ticket. Stuart i can see it coming a mile off, lauren, i really can. I didnt know you were a libertarian. Are you . Who, me . No, i tend to be more on the conservative side especially when it comes to business. Stuart im with you all the way. Lauren, what a pleasure, thanks for joining us, come again soon, okay . Thank you, thanks for having me. Stuart check out this live shot of tahrir square. Celebrating the revolution, no violence reported, a very big crowd. This from the formerly golden state, that would be california. Jerry brown called california a quote, model for the nation. Do you think that he watches Varney Company after hearing him say things like this. I guess those who take pleasure seeing of our demise, california did the impossible. You, the legislature didnt. Stuart talking about us taking pleasure . All of this puts Governor Brown squarely on fantasy island. Well have proof that his states budget is far from balanced at the top of the hour. Time is money. Here are three more headlines that were considering and weighing in on today. The move by states to get rid of income taxes, ill tell you how Phil Mickelson plays into all this. That will be my take. Senator Dianne Feinstein opening up the antigun presser with a pro gun control prayer. Is that okay with you . Is that the right thing to do . Well talk to the head of the Catholic League and a Union Membership, almost a 100 year low. Is that good for working people . Good question, were covering it. Plus, a special guest, wait for it. Joining me next. Sharon osborne, a brit making money in america, how does she feel about foreigners coming over here and criticizing america . I will ask her. We want to hear from you as well, please. Varney foxbusiness. Com, thats how you reach us. Friday morning, its time for your seven early movers and they are moving. Disappointing results and down beat guidance from the mattress seller, select comfort, they are down five bucks, now thats movement the better than expected forecast from screen maker, and they are, well, right now theyre up big, 6 bucks higher. Look at that. Profit down, but still better than expected at the mattress maker, tempurpedic, i dont know, cant show you, yeah, theyre up three bucks, almost 9 , medical test maker, and i dont know how you pronounce it, se pch seped. And etrade financial down, but barely. Disappointing forecast from Electronics Maker flextronics, and better than expected for software company, and they are up, nearly 4, thats 11 . These stocks really are moving. Next, emmitt smith. Hes here and hes going to try to sell me that car. That car. Hes got 30 seconds to make his pitch. Now you can expect the unexpected when a football star comes on Varney Company. Stuart and by the way, you set that record when you sacked brett favre, as i recall, but in my personal opinion brett took a tumble for you, didnt he. [laughter] whos ever feeding you these notes, im going to beat them up after i beat you up. How about that . [laughter] announcer scottrade knows our clients trade and invest their own way. With scottrades smart text, i can quickly understand my charts, and spend more time trading. Their quick trade bar lets my account follow me online so i can react in realtime. Plus, my local scottrade office is there to help. Because they know i dont trade like everybody. I trade like me. Im with scottrade. announcer scottrade. Voted best Investment Services company. Omnipotent of opportunity. You know how to mix business. With business. 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. I could get used to this. [ male announcer ] yes, you could business pro. Yes, you could. Go national. Go like a pro. Im laughing fo for two reasons emmitt smith sitting here and the rally closer, were near an all time high. And quickly the price of oil going up again, 96 bucks a barrel and watch out gas prices and average price up slightly the past week, 3. 33 is what youre paying nationally right now. Okay, lets get to it. Special guest today, hall of fame nfl running back, i believe hes called, emmitt smith. He is here. First of all, you are working with lincoln, right. Yes he. Stuart youre advertising that car in the super bowl. Yes, we are. Stuart im told youre the alltime rushing champion, leading rusher, the guy you grab the ball and run like the devil to the far end. They give me the ball and i run like the devil. I create a pocket for them to place it in. Stuart and the quarterback sticks it in your pocket and you go. And then i go. Stuart youre the july time leading rusher. You know what that means. Stuart you take the ball. It means i rushed for more yards than anybody in the history of the game. Stuart thats fantastic. Its not like a soccer term. Stuart well get to that in a minute. And played a full game with a separated shoulder. Two and a half quarters with a separated shoulder right here in new york. Stuart is that agony . It was painful. Stuart painful. Painful. Lets get to the main event. Youre advertising and pushing the lincoln nkz. And put that on camera, weve got one outside. Yes, sir. Stuart emmitt smith youre brilliant at football and see if you can sell. 30 seconds starting, to sell me that car, starting now. As you can see, this is one beautiful, fine, automobile. Has a unique, sunroof in it, and theres a uniqueness about this sunroof, it goes all the way back to the back seat so the people, passengers in the back seat can look out the roof as well. Push button park, start, drive. Reverse, parallel parking itself. Its great inside. A nice, sleek inside look, it rides great. Comes in the hybrid fashion and a super automobile, very nice. Stuart you took 25 seconds. But you omitted something. I mitted that this car will be down at the super bowl next week and only gave me 25 seconds. [laughter] this is a financial program. My name is Stuart Varney and see the price tag, under 40,000. Stuart under 40 grand. Thats a fine car and i know the car, besides your selling points and i really do like that, from ford lincoln, correct. Yes, sir. Stuart now, another bone to pick with you. Okay. Stuart in my belief, american football, ill call it that, is not a good spectator sport, its no fun going to the game. Unlike soccer, where going to the game is a genuine experience. Go. Well, i big to differ. And thats why so many people are going to be watching the big game next week, because Everybody Loves american football, including, foreigners. Stuart foreigners, foreigners . Oh, wait a second. Its no fun going to the game. Ive been to games and you have to wait for the commercials and a jets game is not like a dallas cowboy game, if youve he been to kansas city game not like a Dallas Cowboys game. If youve been to any game, its not like going to the super bowl. Stuart who did you play for. Dallas cowboys. Stuart americas team. You know it. Stuart now, if you ever went to an English Premier League soccer game you saw man u, you saw chelsea, and spurs. Yeah. Stuart and now, that is a fan experience. 50,000 drunks. And Cowboy Stadium holds 119. Stuart oh, okay. Stuart and glasgow home of the glasgow raiders, 120,000. And cardinals, seats 75, 80,000, we have College Stadiums that does that. Stuart you dont get it, do you . You dont get it. The experience after soccer game an experience of being at the National Champion when my gators are playing against ohio state, amazing. Stuart so you think that College Soccer is better than the nfl. No, i think that College Football is nice for everybody to watch. Nfl football is very special. Stuart ill give you that one. 49ers and ravens, who is going to win. In this particular game i think the 49ers have a better ball club in terms of youth, but the ravens themselves, Business Partners live in baltimore and i would like to see baltimore get another champion ring. Stuart did you enjoy being on Varney Company . Well. Stuart what . Youre supposed to ecstatic enthusiastic. Well, im excited for the new lincoln car, and putting it on the map. Stuart when i watch the super bowl next week, youre going to see. See me riding around in the mkz next week, that beautiful car there. Stuart youre a star and youre a gentleman and we appreciate you being with us. Thank you for having me. Stuart time for the gold report. 9 50 eastern. And here is unlikely friendship. Facebooks mark zuckerburg, and new jerseys Chris Christie . Why are they teaming up . Charles and liz want to ask that question. They want to hurry into the studio to meet emmitt smith. Not me, no, emmitt smith. Ladies and gentlemen, back in a moment. Hey, get in, mark zuckerburg, hosting a fundraiser for governor Chris Christie of new jersey. Remember, the pair did team in new jersey. The team teamed up with cory booker to tackle education reform in newarks public schools, Mark Zuckerberg is opening his Palo Alto Hotel to Chris Christies reelection campaign. Why is Mark Zuckerberg doing this . Liz he is tough on education, donated 100 million to newarks schools and is getting blasted on the internets despite the fact he posted a town hall for the president and attended a dinner for the president in silicon valley. Stuart he is a liberal, Chris Christie not so sure. Charles Chris Christie is a new age bloomberg hybrid, he has crushed these republicans. If he was nice to president obama and moved the election he is something of a hybrid have republican half democrat, maybe that is what we want. Stuart jerry brown says everything is rosy, but it is balanced, it is a model for the nation. Next, why that is back on street. He is on fantasy island. Ou turn . Maybe you want to incorporate a business. Orrotect your family with a will or living trust. And youd like the help of an attorney. At legalzoom a legal plan attorney is available in most states with every personalized document to answer questions. Get started at legalzoom. Com today. And now youre protected. 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Plus get this document shredder free but only if you act right now. Call the number on your screen now stuart california is a model for the nation. California has confounded critics but california is living within its means. Prolong the floors for governor jerry brown during his state of the state message, standing ovation and more big plans. They have Broken Ground on at 60 billion bullet train from outside San Francisco to los angeles. The build gigantic water tunnels 30 miles long at gigantic expense. California is back on fantasy island. Not a mention of state worker pensions, middleclass flight, massive debt and no mention of tax review g. Phil mickelson. It is still the formerly golden state. Straight to the new york stock exchange, the dow is closing in on an alltime high. A few seconds from now we get the latest reading on another bright spot in the economy, new home sales coming, the dow is up 40 points, 14865. It is there for almost precisely 300 points away from its record all time closing high. We are on all time high watch on varney and company not this friday morning that may be in the very near future. It is friday. Heres our friday company. Liz macdonald, charles payne, on for where is your tie . Nicole petallides on the floor of the stock exchange. I have got to go straight to you. What do we have here . I want to talk housing. What have we got . Housing numbers in. Up, down 7. 3 month to month, down 7. 3 . Up until now housing has been very much a bright spot in this economy but that is new home sales, new homes down 7 month to month on a selling basis. That is what we have got. We have got news on netflix. Show me netflix. It is way up again. Nicole take a look at netflix. They have added contents, gave a great outlook. Stock is up 81 4 , new high again, new 52 week high, you remember when we, last july of 2011 when we were talking about a 300 stock. Stuart in two or three days is up 50 . Nicole gaining big time. This is 50 last summer. The most volatile stock ever. Liz increasingly viewer that ditching hbo and showtime and buying netflix. They get better offers on netflix. Stuart watch out. Thanks very much. Moving on. Okay. Okay. Got to give you a little mom on new home sales. Month to month new home sales down 7 but over the course of the year they did post a gain in the number of new homes sold in the united states. Is not all negative on the new home sales figures. New home sales were up 19 in the year 2012. Not all negative. Monthtomonth not great but the year as a whole, pretty good. I talked all about california at the top of the hour. Here is governor jerry brown from his state of the state address. Listen please. The message this year is clear. California is one again confound on critics. In two years we have brought a solid enduring budget. My god, were going to preserve and keep it that way for years to come. Stuart i put the governor back on fantasy island after that address. Was i right . Charles 1,000 . Is mindboggling. The speech he gave is i am great, we are okay. He is misleading people, misleading constituents and california is sinking by the minute like the captain of the titanic saying the next round is on me, keep the band playing. Liz an ocean of that coming, 81 billion and counting. You dont hear that in the address. Stuart an ocean of that coming do, 181 billion. That is not all coming do. That is over a long period. Liz for junk status for that reason. Stuart i have to bring in the voice of reason, a man with real numbers from california, Mark Stanford with frontline state filed. With a proper name . Front line was . Front line strategies. Stuart all right. We put the governor back on fantasy island. I want you to tell us am i right in doing that . Is california out of the woods . Is it in the black . Is a model for the nation . No. Governor jerry brown is not guilty of kicking the can down the road. He is trying to hide the can entirely. Budget that is balanced on 7 billion of debt payment deferral funding shifts and other gimmicks, spending rising 12 billion this year, 25 billion over the next three years and elizabeth was talking about the unfunded pension liabilities, 181 billion is at the low end of the estimates, over half a trillion dollars. We have seized going bankrupt, we lost some one trillion dollars in the economy due to the housing bubble and 4. 4 million taxpayers leave california since the year 1998 not including tiger woods and Phil Mickelson. Stuart he says he is back in the black, they balanced the budget and you are saying that has only been done with 7 billion worth of gimmicks, correct . Yes. There is also spending revenue projections that are speculative at best. They think the governors new tax hike is going to generate anywhere from 8 billion to 12 billion in new money but as we are finding that you get the obamacare taxes kicking and and the effect of his tax hike still yet to be seen and i think we will end up at the end of the day with a lot of promises. Stuart two more items i want to cover. The bullet train, the governor yesterday in the state of the state message pressing ahead with it. They broke ground on it. That means what . 68 billion minimum in the relatively near future on this thing. Yes. The interesting thing is you mentioned global the trade going San Francisco to los angeles. It is not close to being there because of the environmentalists is a not in our backyard. It is going to go between fresno and bakersfield, not necessarily the garden spot of a say. I love folks in fresno and bakersfield but to try to start your bullet train project there is a highspeed fail, not high speed rail. Stuart what was that about huge water tunnels, 30 miles long . I didnt get a dollar cost but i am sure it is tens of billions. We had issues about getting water from the sierras in california to San Francisco. Number of reservoirs that are trying to preserve so his deal is to build these underground water delta tunnels that go from Northern California all the way to the bay area. We are talking about a minimum of tens of billions of dollars of Construction Costs and no one knows where the revenue is coming from. Stuart hard numbers, thank you very much, see you again soon. Thank you. Dianne feinstein unveiled her gun control legislation yesterday and opened her News Conference with a prayer from the dean of the national cathedral, reverend paul. Listen to it please. Everyone in the city live in terror of the gun lobby, but i believe the gun lobby is no match for the cross lobby, especially when we stand together as people of all faiths across the religious landscape of america. Stuart looked to me like that prayer was basically a push for god to make gun advocates why is up. It was very much in favor of gun control and it was a prayer. Our next guest says this is religious exploitation. Here we are with bill donohue, president of the Catholic League. Welcome to the program. Lets spell it out. The cleric there made a prayer which was involved with a political message progun control. Is that right thing for a cleric to do . Absolutely not. When i first heard about this i was commanding Dianne Feinstein when they called me about this. I said we should welcome that. I called back after a check into this and found out this guy exploited the issue. Now we have got is on the side of god is not on the side for against the yen are a and i would condemn the nra if they had someone up there as well. To make a political speech like this, if you brought in a clear demand or woman and that persons that we asked god for wisdom so that we make the right decision about this, i am all in favor of that. I had no idea i was giving Dianne Feinstein the benefit of the doubt. This is the same party the through got out of the platform a few months ago at the Democratic National convention and had to find him again. Stuart i un equal opportunity critic . Do that i mean the following. The idaho state gop convention, a cleric said this prayer, dear lord, i asked on thursday, election day, find a new job for president barack obama. That is wrong. That is not roll the clergyperson to Say Something of that nature. I condemn that as well. If we have gotten to the point the cant even have a neutral nonpartisan prayer on the part of a clergyperson, we have cleared the people against each other, people in different religions or within the same religion, i wouldnt care if it was a catholic priest. Stuart you are not in the priesthood. You are you run i am sorry to put it like that, the Catholic League. Is okay for you to say barack obama should have sworn in for his second term [talking over each other] i said that because Lawrence Odonnell who professed socialist that msn b. C. Was railing against christianity and talking about how no one should use the bible whatsoever. I made a snarky, and if you feel that way why dont you have swearing in das capital, more in tune with his thinking. Liz i am scared to quote bible scriptures with you. Will be terrifying but didnt jesus say matthew 26 those who live by the florida die by the sword . Their role for that thinking . Absolutely no question about it. When you invite a clergyperson to a public ceremony of this nature you expect to ask for dependence on the creator, the lord, divine providence, that is the language you want. What he used that term, the terror of the gun lobby, all of a sudden they have gone on one side of this issue . A very complicated issue as we all know, deals with Mental Health issues, deals with videogames, pornography which desensitizes men and the like and all of a sudden you religiously exploit a Public Policy issue for Political Capital . No. Both sides would be wrong. Stuart i want to express an opinion on Dianne Feinsteins bill, very poor piece of legislation. Will not do anything to solve the problem of mass murder in our schools. Wont touch it whatsoever. It doesnt go anywhere near the problem of having mentally ill people with guns, doesnt address the problem all. It wants to suppress a whole area of gun ownership which i think is not right in my opinion. Dianne feinstein has every right to get a concealed weapon permit became a senator. Doesnt that raise the question how come it always is the Rosie Odonnells and Dianne Feinsteins to always make an exception that they should have guns or their bodyguard to have done the the rest of us should not have guns . Our friend joe biden came out the other day and said you want to protect yourself selfdefense get a shotgun. She has shotguns on her list. This goes way beyond what they have with the assault weapons ban in 1994. Stuart you never lose your energy, do you . You could be 85 years old. I was raised an advocate, how did Stuart Charles payne [talking over each other] happens to me all the time. Stuart thank you very much indeed. Heres what youre saying about that gun control prayer . John wrote there are those also praying otherwise. What is god to do . Probably back away and let us decide. Mike said they are the first to cry separation of church and state. From row, separation of church and state, cant have it both ways. If you want the government out of the church, church stay out of government. I am against gun laws just for the record. Thank you, everybody. Appreciate your input on facebook. Union membership at its lowest level since 1916. Who are the political and economic winners and losers in all of this . The answer is next. [ slap ] [ slap slap slap slap ] ow ow [ male announcer ] your Favorite Foods fighting you . Fight back fast with tums. Calciumrich tums starts working so fast youll forget you had heartburn. Tum tum tum tum tums stuart we are on full time record high watch for the dow today. Look where it is now, 13862 up another 37. Starbucks got a lot of company here and in asia. Nicole petallides, the coffee giant reported stronger than expected sales and matched wall street expectations. Shares on a rise 4 . Bad news, lets go to has row. Less demand for toys than expected here and around the world, it is down 4 . Tokyo scary in cairo, egypt filled with protesters marking the second anniversary of the egyptian revolution that forced Hosni Mubarak out of power. President more see urging egyptian to mark the anniversary in a peaceful way. Union membership down. The next guest will talk politics and how the union will how this will affect the middle class. Obligations, but obligations. I need to rethink the core of my portfolio. What i really need is sleep. Introducing the ishares core, Building Blocks for the heart of your portfolio. Find out why 9 out of 10 large professional investors choose ishares for their etfs. Ishares by blackrock. Call 1800ishares for a prospectus which includes investment objectives, risks, charges and expenses. Read and consider it carefully before investing. Risk includes possible loss of principal. Stuart that is the middle of cairo, egypt. That could be smoke or teargas. Theres a huge demonstration marking the second anniversary of the beginning of the egyptian revolution. President and morsi wanted a peaceful protest. Looks like there may have been some violence. A live picture there. Lets check in on bright orions family solutions. It debuteded today, firsttime shares of denzel to the public and they are on saline what happened to stock . Nicole stock is great up 28 . Bring that in, our producer at the exchange, highs at 2850. This is the ipo price, originally 1921, priced at 22, soaring. This is all about child care, family services, the guy that barkley told me they actually dont have care for their child five days rear they bring them over here. This is the companys board established in the medians before liz was born. [talking over each other] good for your grandchildren. Stuart a day care company . It is for Child Services and such and as i go to vegas i can take this. We left out important part. 80 stake from being capital and you have the ceo on as well and do a great interview. Stuart the ceo is on this Program Later today from bright or rise in. Thank you very much indeed. Now to Union Membership, weighed down. Take a look at all of this. 400,000 workers left the nations Labor Union Movement last year. The state of wisconsin down 13 in its municipal workers, down 45,000 and indiana where a law passed last year that allows workers to benefit from a collective Bargaining Agreement without paying a union feet, 18 drop in membership there. These are the lowest union levels since 1916. Joining us, brent mcman. Welcome to the program. Obvious question. Unions are flying high politically at the moment. They have enormous political influence. Does this decline in membership affect their political clout . In a lot of respect to the fact that in kind of a converse way. If you look at the budgets being danced around talkedabout by Senate Democrats and the president , a lot of it will end up having higher taxes and significant spending at the government level which means Government Employee unions will be able to get high salaries or hire more people, more union dues, electing more democrats. Stuart we have Union Membership declining sharply. Will that lead to a decline in their political clout . It could if drastic steps like this administration has already been willing to do arent undertaken like proposals from the nlrb to make it easier for people in private sector being forcibly unionized, all kinds of things like bailout they have talked about. Stuart declining Union Membership means declining union dues so unions have a lot less money to spend on leftist causes. That is certainly true end of a self but also sets up a situation where the desperate folks meaning the Democratic Party in particular are going to be willing to do extraordinary things to bulk up that membership. That is my concern because it creates that scenario and creates the need. Stuart a short time left. Make a decision for me. Is the decline in Union Membership bad for american working people . Not at all. It is very good for them because not only is the cost of living going to decrease by lower menu should marriage of their ability to actually get ahead on their own merits is higher with less unions around. Very good for the working man. Stuart thanks for joining us. Interesting story. Appreciate it. A moving van, Phil Mickelson, both tied to how much your state charges you in incometax. That will be the subject of my take which is next. train horn vo wherever our trains go, the economy comes to life. Norfolk southern. One line, infinite possibilities. Stuart my belief, american football is not a good spectator sport. It is no fun going to the game. Unlike soccer where going to the game is a genuine experience. I beg to differ. That is why so many people are going to be watching this big game. Everybody loves american football including foreigners. Stuart i think you will admit i took a risk with football legend and its smith in the last hour. You never know what is going to happen on varney and company. That is why you have to tune in shock at 9 20 eastern weekday mornings. Timeframe market check. Where are we now . Of 20 points still on the upside, 13846. No secret i have problems with piers morgan, a foreigner coming here and going on television and spewing negativity about america. I dont like it. In a few minutes Sharon Osborn joins us, she makes money. What does she think about peers morgan, a former coworker . We will lascar at 10 35 this morning on this program. It has been a week. What a golfer had to say about where he lives is rippling through the financial world. Heres another my take on Phil Mickelson. A story in the New York Times caught my attention about republican governors moving away from taxing income and moving towards taxing consumption from incometax is to sales taxes. Related story. Governor brownback of kansas wants to eliminate his states income tax, he joins the governors of four this state which are considering the same thing. Where does Phil Mickelson coming to this . In two ways. He wants to move out of california. He is free to live wherever he wants and preferred lower taxes. Why not . That is why states like kansas, florida, texas are competing for tax refugees. The Phil Mickelsons of this world are driving the tax debate. Phil mickelson objects to a 63 tax rate. Who wouldnt . When this tax become legalized theft . This is a moral question as well as financial. Here you have a sports guy driving a moral and financial tax debate. Is not going away either. The president wants to raise taxes even more and we will soon see the impact of that disaster known as obamacare. Bring on the debate. Do you think 63 is a fair share for the government . Do you think any american should be cowed into living where the government can tax them most . I know where i stand on this one. [ indistinct shouting ] [ indistinct shouting ] [ male announcer ] time and sales data. Splitsecond stats. [ indistinct shouting ] its so close to the options floor. [ indistinct shouting, bell dinging ]. Youll bust your brain box. All onhinkorswim from td ameritrade. Can youlyric can. Aid do this . Lyric can. Lyric can. Lyric by phonak is the worlds only 24 7, 100 invisible hearing device. Its tiny. But lyrics not just about what you cant see. Its about what it can do. Lyric can be worn 24 7 for up to four months, without battery changes. Incredibly easy to live with, lyric can be worn showering, sleeping and exercising. In fact, you might forget its there at all. Call for a riskfree trial. And youll see lyric can also give you exceptionally clear, natural sound in quiet and noisy environments because of how it works with your ears own anatomy. testimonial section testimonial section testimonial section testimonial section testimonial section did you know, 94 of people who use lyric would recommend lyric to a friend or loved one. Can your hearing aid do all this . Lyric can. To learn more about lyrics advanced technology, call or visit trylyric. Com for a riskfree 30day trial offer. Youll also get a free informational dvd and brochure. Why wait . Hear today what a little lyric can do for you. Get the hearing aid that can. Lyric from phonak. Lyric can. Stuart the dow is on the upside, 22 points, still up, within 300 points, close to its alltime high. No eve dating of the question. Just because you have a tie on doesnt mean you can debate the question, when does the dow crossed 13,000 . Before the day after it happened. Sometimes this year. That is a huge number. Play around with it and pull back and all that stuff but it will happen sometime this year and when it does watch out because people are flocking into the market like crazy. Stuart when you think this market is going. Liz he didnt want to answer that. Stuart but he did. Answered. Liz i agree with charles. Eyewall street forecasters were invented to make whether men look good. We dont know what will happen. I think it will happen. Stuart i would agree with that. Nicole petallides, microsoft, tell me it is up. Nicole it is up. The dow a little bit back in the green up nearly 1 , a gain of one quarter, 0. 25 to the upside. Interesting because i heard one of the people on tv talking about the fact they would rather buy microsoft at these levels and apple because microsoft has potential to the upside and they are doing well with windows etc. Stuart opened lower and moving a bit higher. And stockowners will take that. Listen to this. Surprise surprise. Karen osborn is with us. Were talking about bricks in america and we are talking diets. Welcome to the program. Good to see you. How are you . Stuart there may be a little bit of a delay on this. First of all, you are a brit, you live in america, you like it . Yes. I loved it. I have lived here go on. I have lived here longer than i lived in england because i moved here in the 70s. I have lived here longer than anywhere else. Stuart what do you think of brits to come over here and are critical of america . Talk down to americans with a british accent like your friend peers morgan . What do you think about that . It is hard for me to talk about him because i love him. He is a friend. But i get pretty angry with a load of bricks that come over here and talk to everyone. They keep coming back here. If it is so bad why do you keep coming back . Stuart i will get to the diet in one shining moment but another question. You make a ton of money. You make a ton of money. Are you happy giving more than half of your income to the government . Absolutely. That is the world we live in. Not just this government but around the world. You give 70 away in france. I am more than happy. Stuart singapore 20 . Russia 15 . Hong kong who wants to live in singapore . Stuart singapore is a beautiful place. Hong kong fabulous. Stuart it is humid. I think we have a disagreement. I think it is wrong for any government anywhere to take more than one third of a man or womans income. You have the last word on this and i will get to the diet. What are we going to do . It is the world we live in and if you want to live in the best country in the world you pay a price and that is the price we pay and i am willing to pay it. Stuart that was excellent. That was a good rejoinder as one might say. You have lost 23 pounds in six weeks. Tell me how you did that. I did it on the atkins diet. I have tried every other diet in the world and they work but you put the weight back on again. With this, you keep the weight, you maintain your weight and my husband did it, my son did it with me, my assistant, we joined forces and did it and for me it works because i dont cook, cant boil an egg so you get this fruit from the supermarket already made up, frozen food and it is a nobrainer. Stuart are you making money by advertising the atkins diet . Of course i am. This is america but the thing is it works. I wouldnt put my name to something that didnt work. It worked. I am living proof. Therefore i should get paid because i am doing and i have a big mouth and i will tell everyone that it works. I will stay around in this industry so i am not going to put my name to something that doesnt work. Stuart we appreciate you coming on board, we really do. Sorry if i went off on a tangent about brits and taxes and the rest of it but it is good to see i did it. Stuart you look fantastic. That is a legitimate thing for a man to say. I appreciate it and if you want to go on a diet you should go to atkins. Com and they will give you a free starter kit. Stuart i just gave you another thirtysecond commercial which was good of me. Garrett osborn. Thank you, great stuff. Next, the guncontrol debate with a woman with a very personal story to tell. Despite a family tragedy she is against gun control and she is next. To grow, we have to boost our social media visibility. More likes. More tweets. So, beginning today, my son brock and his whole team will be our new senior social media strategists. Any questions . Since we make radiator valves wouldnt it be better if we just let fedex help us to expand to new markets . Hmm gotta admit thats better than a few likes. I dont have the door code. Whos that . He won a contest online to be ceo for the day. How am i supposed to run a business here without an office . [ male announcer ] fast, reliable deliveries worldwide. Fedex. Stuart investigation into the boeing 787 dreamliner continues. Americas a deregulators are not close to finishing the investigation. The f a a grounded the fleet after a string of incidents surrounding the plane. They wont fly into the problem is all. Shares are 74. Be prepared to pay more for using your credit card this weekend. Starting sunday, 40 states have a slight fee of 4 for using your credit card. You can avoid the charges by paying with cash or debit or shopping somewhere else. Numbers out this morning on new home sales up nearly 20 in calendar year 2012 over 2011. We are on alltime record high watch today. We are up 18, 13843. Next, an opinion on guns. announcer at scottrade, our clients trade and invest exactly how they want. With scottrades online banking, i get one view of my bank and brokerage accounts with one login. To easily move my money when i need to. Plus, when i call my local scottrade office, i can talk to someone who knows how i trade. Because i dont trade like everim with scottrade. Me. announcer scottrade. Awarded fivestars from smartmoney magazine. Stuart it reporter and frequent guest of varney and company ran into actor David Arquette earlier this week and got into a discussion about guns in movies. Heres what david had to say. If you want to restrict the amount of bullets that it in a magazine and restrict that also from being able to show that amount of bullets in a clip on a movie screen i am totally down with it. Go for it. Stuart please note there was no mention of hollywood in president obamas guncontrol proposals. More than 20 years ago, susanna have witnessed the murder of her parents at the hands of a gunman who opened fire in a lovers cafeteria in texas, 23 people were killed that day. Suzanne is a legal gun owner and had a handgun in a car that evening but because of the gun laws she was not permitted to bring that down into the restaurant that night. Former member of the texas house of representatives and author of from lovers legislature susanna hoff joins us from austin, texas. Welcome to the program. We thank you for sharing your story with us. It is a tragic story but thank you for being here. You are i take it opposed to gun control. Layout your case please. I am supposed to put it in a nutshell. The only thing the gun law gave that particular day was my parents, to prevent me and a number of other people in the restaurant from protecting ourselves. I was very angry. I was angry at the legislature because i felt they had legislated me out of the rider protect myself and my family. That isnt something i made up a year later. That was something i said the next day. There were several of us that had guns in the cars that were not able to use them. Stuart a lot of people understand the logic of what you are saying but the other side of the killeen is a lot of people will say we really dontcoin isl say we really dont want a bunch of people Walking Around with a cold. 45. Can you see that side of the argument . No. I heard those arguments which i testified in 26, 28 states, i testified at the congressional level. I hear the same arguments everywhere i go and none of those scenarios they talk about, those dog city scenarios ever play out. If guns are of a problem why dont we see these terrible things theyre talking about happen at the nra conventions or the dreaded gun shows, places where there are thousands of guns in the hands of just as many lawabiding citizens . Stuart do you think we should do anything . We post newtown conn. An awful situation obviously. Do you think we should do anything . Absolutely. Stuart what should we do . In texas and in a number of other places we are looking at opening it up because i believe any time you create a socalled gun free zone it is pretty clear that that is where these crazies go to rack up high body bag counts. These things dont happen where guns are allowed. They go where guns are not allowed. There are a number of schools across the country and in my home state that are beginning to say maybe it is a good idea to let our teachers who have concealed permit and can protect themselves at the local cafe let them protect themselves in the schools as well. Stuart your logic is right there and i am calling it down the line but the emotional side of me says hold on a second. I have six kids. Do i really want are we really okay the teacher packing a pistol . They already are. They are just not doing it in schools because it is typically not allowed. I have been there. I know what it is like to be in their room with a crazy man that is just there to execute people and i know what it feels like to wait for it to be your turn, when you have no way of defending yourself. I cant tell you how frustrating that is an the idea of being back in that same situation but instead of being with my parents having my kids with me, at that point, even if i have chosen not to have a gun i hope the guy behind me has one and knows how to use it. It makes me physically ill to think of being there with my kids. Stuart i am absolutely with you. Take me back to that night in texas. If you have your gun with you, no problem whatsoever plugging this guy and stopping him . It was actually in the middle of the day in a crowded restaurant and back in those days these crazy shootings werent happening so it wasnt something that you think about. You think about i need to carry my gun in a dark alley somewhere. An assistant District Attorney in houston convinced me to carry a gun and at that time was illegal and a couple months prior to this event i had been leaving it in my car because i didnt want to lose my license to practice chiropractics. Wanted to be legal lawabiding citizen. I am trying to get across to you the idea of that feeling of the senselessness and how the bad guys look for places where they can rack of those body bag counts. A gun is not a guarantee. You said i have taken him out . I could have met him. It is possible my gun could have jammed. One thing no one can argue with is it would have changed the odds. No one can argue that. Stuart you did get your point across. You did make me understand and i appreciate that. Thank you for sharing that story with us. We appreciate it. Thank you for having me. Stuart the ap is reporting a federal Appeals Court just ruled president obamas recess appointments to the National Labor Relations Board are unconstitutional. How about that . Take that, richard trumka. Remember how much bain capital was in the news leading up to the election . One of the private equity firms went public today, we talked to the ceo of that company next. This is 100,000. We asked total strangers to watch it for us. Thank you so much. I appreciate it. Ill be right back. They didnt take a dime. How much in fees does your bank take to watch your money . If your bank takes more money than a stranger, you need an ally. Ally bank. Your money needs an ally. Stuart next guest is cheaper executive officer of the company that went public this morning, Bright Horizons family solutions, child care educational company. He joins us from the new york stock exchange. You are a dane company, are you not . Tell us what did danes do for you . We couldnt be more thrilled to be here. We have been thrilled to work with been over the last five years. They may not know what they were the company to put the initial seed money more than 26 years ago, to be able to actually have a chance once again to work with their expertise and the kind of people they have that essentially support our mission and support our growth, this whole process was not about any kind of cost, more about how can we invest in growth. The track record speaks for itself. We grew on the top line and bottom line in every single year in the past five years. The ten toughest years the company ever had to weather given the economic downturn. Stuart they put the money in, way back when, in the earlier days, brought in their expertise, Guidance Counselors to some degree, and you are on your own and going public, been makes a lot of money. They make a lot of money on the initial investment that you are launch and a job creator. Will you tell us exactly what Bright Horizons actually does . The company was founded on the premise that employers had a stake in those issues that cause the most friction between work and life and force people to be less productive and they dont have the right solutions so the company pioneered a model of child care, 26 years ago that has grown and flourished now in almost 800 locations across six countries where we have employers, bluechip employer sponsors who co investors create a high level of quality and accessibility for their employees. Stuart many thanks for joining us today and congratulations. At this moment your stock is up 27 from the operating price of 28 . Thank you so much. Please to be with you today. A special highlight reel is next and i am told the joke is on me. W when, but thieves can steal your identity and turn your life upside down. Hi. Hi. You know, i can save you 15 today if you open up a charge card account with us. You just read my mind. 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I have a feeling this is a breakthrough. We found some areas of agreement between myself and the conservative. You and i are not simpatico. I do not get it, he was on the show yesterday. Charles, did you or constraint