Transcripts For FBC Varney Company 20130813

Pressure on the irs to stop the flood of money pouring into that years the election. We have it and we will play it for you. Eddie is a government run oil in mexico thatafter is a governmenn mexico that country sees the light. And hard work and American Value in a rebuttal of the president s middleclass only american utopia. Varney and company is about to begin and stocks about the balance. Make it happen with the allnew fidelity active trader pro. Its one more innovave reason serious investors are choosing fidelity. Get 200 free trades when you start using active trader pro today. Join us at projectluna. Com charles news alert, another hit for the president. The New York Times reporting the Obama Administration delayed another provision of obamacare dealing with Consumer Protection that would be out of pocket costs people have to spend on health care. And 00 a. M. Jim demint will join us pushing for a vote on obamacare and we will get his reaction at the top of the hour. Explosive new video of lois lerner may be the smoking gun that plants the irs skip kendall squarely in washington. She is talking about political pressure to put the irs to stop the flood of money pouring into the 2010 election. Listen to this. Overturning 100yearold precedent that says appropriations for the whole thing and they dont like it charles democrats maintaining the party line. And oped in the Washington Post democratic congressman steven and elis the cummingsssaid theres no evidence political motivation or white house involvement. This video looks like a smoking gun. Thought that the senator is saying this when he sent a letter on Homeland Security letter head, senatorial letter head to irs commissioner doug schoen saying was wheres response is, quote, and satisfactory, responding too slow. Halt long will it take to look into groups like americans for prosperity and patriot majority . Charles amazing. As big as huge, we will be all over during this show. The first losing week in a month and a sloppy trading session fuelling chatter about bigtime court action coming. The opening bell is next. A quarter million tweeters are tweeting. And 900 Million Dollars are changing hands online. Thats why hp built a new kind of server. One thats 80 smaller. Uses 89 less energy. And costs 77 less. Its called hp moonshot. And its giving the internet the room it needs to grow. This is gonna be big. Hp moonshot. Its time to build a better enterprise. Together. Weekdays are for rising to the challenge. Theyre the days to take care of business. When possibilities become reality. With centuryli as your trusted partner, our visionary Cloud Infrastructure and Global Broadband network free you to focus on what matters. With Custom Communications solutions and responsive, dedicated support, we constantly evolve to meet your needs. Every day of the week. Centurylink® your link to whats next. Bjorn earns unlimited rewas for his Small Business seags to room 12 please. [ garth ] bjors small busiss earns double miles on every purchase every day. Produce delivery. [ bjorn ] just put it on my spark card. [ garth why settle for less . Ahh, oh [ garth ] great businesses deserve limited reward heres your wake up call. [ male announcer ] get the spark Business Card from capital one and earn unlimited rewards. Choose double miles or 2 cash back on every purchase every day. Whats in your wallet . [ crows ] now wheres the Snooze Button . We saw apple with steve jobs. We saw apple without stevv jobs. Now were going to see apple without steve jobs. So youre shorting apple. Im not shorting apple. I like tim cook. Tell the people over there you just said apple is going down without steve jobs. That is, that is exactly what you said. Apple is going without steve jobs. Okay. I will say it publicly. He is irreplaceable. Charles that was oracle Ceo Larry Ellison predicting doom for apple in an interview with charlie rose this morning. Well check with apples stock when it opens this morning. Were a few minutes away from the opening bell with scott shellady. I want to talk to you about oil. Mexico opening up that vast amount of oil. They have oil and natural gas shale there to public companies, private companies. What does it mean for the markets . [opening bell rings] i think competition will be good it will keep the oil price down. We cant afford to pay Higher Oil Prices especially with 1 1 2 gdp looks as though politicians in mexico are getting rid of a singlepayer oil industry and opening borders to competition which will be a good thing for the price of oil and the consumer. Charles only took them 75 years to have a epiphany, you know what . Maybe open to the private sector and ingenuity and innovation could actually help them. They have been growing so slow over the last 10 years theyre looking for anything. I think this is the right way to go. I think it will help the bottom line sooner rather than later. Charles i think it will be good for american companies. As you heard that was the opening bell, we start, listen, up 13 points. It was a big struggle yesterday. A lot of sea sawing back and forth. I want to get back to larry ellison. He told charlie rose that apple was not doing so good without steve jobs. How is it doing this morning. Apple is 8 of the nasdaq of the that is one of the reasons the nasdaq was up a little bit yesterday when the dow and s p were down. Apple is down 1 to 471 this morning. This is a stock when everything is up bigtime, apple is down 12 in 2013, charles. Charles although mounting a pretty nice stealth rally in last couple of months. It certainly has. Everyone is expecting september 10th, new iphone, it will have fingerprint security. What else were getting excited about it. There is competition out there and apple is a Different Company without steve jobs. Charles i think we all agree to that thanks a lot. We have two big names that you know right now. Look at them. Tesla shares, getting a bump from ceo elon musk. His plans for mass transit of the future. Every time musk is in the news all his stocks roushly go up. Activist investor bill ackman is not having a great year. He resigned from the board of jcpenney and told us, this is what they talked about. That there is now a large shareholder, one of the outside observers digging at him, this outside of outside observe irof jcpenney. He is a shareholder but no longer on the board. Kfc parent yum brands last month, in fact a big slide. Lauren, what are those shares doing . Yum brands is having a rough day. The shares are down, charles, about 3 . Look the local media in china saying it is hottest july in 140 years. Kfc, 6,000 of them, owned by yum brands in china . Where is their cold drinks and ice cream . Theyre not advertising the right way. Couple that with the avian flu scarce and poultry supply they have a big issue. This company has not normalized yet. Yum brands is a loser today. Charles yum brands depends on china more than any other country. They have some pr work to do there for sure. By the way, one more stock, lauren. Eli lilly, good news on one of the lung cancer drugs . Experimental lung cancer drug, eli lilly up 3 and 3 4 . A big winner. Charles thank you very much. To the war of words between kris jenner and president obama. Here is what the president said to get yeper so fired up. Quote, kids were not monitoring every day what Kim Kardashian was wearing or kanye west going on vacation thinking somehow that was the mark of success. Kardashian is jenner es daughter. Here is how jenner fired back. I wasnt aware you could only set the bar so high and that we could only dream so big. I was taught dream big, work hard, and you could have whatever you wanted. [cheers and applause] charles everybodys fired up. See if it fires up my man Keith Fitzgerald because he joins the company. Keith, want too get your thought on that, that whole back and forth there. I tell you what, i think the president screwed up because it is not president ial whether you agree with them or not to go after something personally or someone personally. Would i like to think American Children have Something Better to do than watch those two. Jenner is right, you work hard and watch the fruits of labor. Whether or not that is in the public eye, who am i to say. Charles the president always talks about expanding middle class. Moving it outside ways and bringing people from the bottom into the middle class. He never talks about shooting for the moon, shooting for the stars. In my mind a country that has limits will be a limited country. We used to be the land where milk and honey. We thought that the sky was the target. That, you know, the idea that the president has his utopia that were all in some sort of crunched up middle class. That is the real issue here. You can come to america for several hundred years and make whatever you want. You can build your destiny, build your future and you can shoot for the moon because that is what the American Dream is all about. For him as a sitting president of the United States, hey, you can only set the bar this high i think is a tremendous slap in the face and removes hope from every young person in this country frankly. Charles you know what . Im inclined to agree with you as well. Real quick on the market correcting, a lot of scuttlebutt about it last week. Mark farber and other articles in the social media. What do you think, what do you feel . Look, the markets come up to, flirting near record levels. These are natural adjust points the markets have a little giveandtake. Tread carefully. Do you want big kneejerk decisions . Absolutely not. Were long overdue on a correction. That depends on uncle ben bernanke what he does or doesnt do. That is where the market tenor is right now. Be prepared. Charles there is distinction between a correction and a massive crash a lot of doomsayers are saying. Keith, i need you to stay right there. New rumblings about a possible ipo for twitter. Want to find out if youre buying it . No, i dont and ill tell you why. Investment bankers make money. Early investors make money. Angel investors make money. Guys come to the table and buy on an ipo, lately they havent made money. I would be staying clear of that one. If it is done right, facebook was not done right. Facebook was a Brilliant Company and they squeezed every single kernel and nickel they could from the public. Some people say they were smart in this respect but they were dumb in that respect that a lot of americans might have been more earn thousand as i can about the stock market in general if that was a smoother ride. How should twitter go about it . Should they try to squeeze every nickel and let the stock trade up to 45 the same day and get a trading range and everybody one feels like you know what, there is money to be made for all . That is a very valid question, charles. Frankly i dont know the answer. The question of an ipo, is it a quick rich scheme or is it Value Investing . When we look at companies historically, microsoft, intel there, was a lot value. Social media i dont know that you can make the same argument. Why i generally steer clear on those things. Charles why they squeeze every nickel they can on the first dave things. Keith, talk to you soon. Guys, look at this, this is a 3d printed dress. The new technology is exploding getting cheaper by day. At 10 00 a. M. The designer that made the dress. Of 3d printed clothing he says for everyone could be just around the corner. Time for your seven early movers. Were up a little bit. Maybe i have seven. Look at x1. This is 3d play. Stock is reporting earnings after the bell. These stocks were up huge after the bell. Well keep a close eye. Street reported after the bell, loved the number b was higher in premarket. Q mobile, beat the street by three cents. Guided the Third Quarter higher. Including cloud stuff. The im not a fan of cute stock symbols. Retail me not, symbol, sell. Got upgraded from jeffries. Morgan stanley equal. It was a little flat to higher. In the premarket. Want to share that with you. Lilly of course, lauren mentioned that. Big news. That was a phase three trial. So the next move of course for a new drug application. Given images. This is a fun one. Fda clearance for the next pill cam. A little pill you take and has a camera inside of the pill. This one will help detect and monitor small bowel abnormalities. Say that three times, liz. Anyway, nice move on this stock. Finally digital generation. Selling their tv business, over 500 million. That stock is up 35 this morn. We know there is divide in the Republican Party. Rand paul versus Chris Christie. Setting up the gop platform for 2016 or could the libertarian vote moving to the left . That is interesting. We have more next. 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. She loves to shop online th her debit card. And so does bill, an identity thief who stole marys identity, took over her Bank Accounts, and stole her hardearned money. Unfortunately, millions of americans just like you learn all it may take is a little misplaced information to wreak havoc on your life. This is Identity Theft. 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Do not drink alcohol in excess with cialis. Side effects may include headache, upset stomach, delayed backache or muscle ache. To avoid longterm injury, seek immediate medical help for an erectn lasting more than four hours. If you have any sudden decrease or loss in hearing or vision, or if you have any allergic reactions such as rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. Ask your doctor about cialis for daily use and a 30tablet free trial. Charles all right. You know what . We were up 30 points but were not now. Not anything necessarily scary but certainly the bias is to the downside. Time for the morning gold report. Gold had a pretty good day yesterday. Lets see what kind of followup. Not a real followup, down seven bucks, 1327. Lets say 1300 is key support. We know the battle lines for 2016, theyre already being drawn. We have rand paul on one side. Apparently Chris Christie on the other side. Theyre trading barbs with the republicans. Rand paul was on hannity and talking about the election. We need to grow. We need to be more inclusive. Black people, brown people, white people, with tattoos, with ties, without ties. We need a range of people in order to get the Republican Party bigger. We need workingclass people. Not just business class. Charles tp news. Com director with us. She will tell us if young libertarians, up for grabs . Will they swing to the left . You wrote a piece in down hall, could todays libertarian be tomorrows liberal . Exactly. I think that is the question we need to be asking. What is the true definition of the parties whether republican, democrat or libertarian. Thanks to the recent scandals we have on and on people are very disenfran chase choiced. Instead of i give up, take the government out. Those people are very, very much falling for this libertarian line. Charles so youre saying young people are falling for it . In other words, theyre being duped somehow. I dont know about duped. I think theyre becoming very much single issue voters. Whether you want to talk about legalization of drugs. Legalization of alcohol. Issues specific to them, theyre going, that will cause me to vote. When you look at it, a true, honest libertarian is very socially progressive. Theyre fiscally conservative but when it comes to most social issues think want the government hands off. Which makes them right in line with the progressives. Do you think the gop can be a Big Tent Party then . Thats the issue. The problem we have to educate folks, are you voting with your mind or vote with your heart . What is important to you when you go to the election booth . Those libertarians, we remember in 2010, the big issue was independent, Everybody Needs to go after independent voters. Well now, it is cool to say youre libertarian. Im trying to caution people, you need to understand, there is a consequence to saying youre libertarian. If we put in total libertarian actions there would be almost anarchy, mob rule. Charles hold on. You know the judge is on vacation. Thats why i can say this. Charles anarchy . If we elect adlib tearian, america would go up in anarchy . The key there are great things about libertarians. Charles i want to he no the anarchy. Heres the deal. Libertarians believe government should be hands offer. No restrictions on my personal life, my family life, my business. Sounds good. When youre dealing with issues like alcohol, drugs, prostitution, pornography. Abortion. Charles victimless crimes. Victimless crimes. It is not your decision that hurt yourself. Decision that will your decision that will hurt me. Some people abortion is not a victimless crime. Charles some people wouldnt. I agree. That is social issue. Who is defending the baby in this case . Who is defending person killed bit drunk driver or guy in philadelphia that was doing wrecking ball and tore down the building . Liz the thing is, the libertarians have been there for a long, long time and they havent really been embraced by the gop. Do they come out to vote in primaries as conservative part of the party does . I think were living in a different time right now than we ever have politically. People are now, after these scandals have happened, after the irs targeting, verizon cell phones, this is starting to encourage people to get involved. Really libertarian numbers are growing. Liz also borrowing from so people in egypt can burn the american flag. Thats right. Charles here is where we are. Good thing young people are obviously aware of politics. Theyre more interested. Youre thinking if they go down the libertarian line their vote could be up for grabs. They may equate the believe system with democrats rather than republicans is that the danger . Completely. Mtv like pop culture and card dash shuns, everybody else could be easily swayed. Charles what about internal feud with republicans how is that playing out . When you hear rand paul dissing Chris Christie and vice versa, if im on the outside, 23 years old, i i want a less intrusive government, what is the issue. As gop, well have to literally encourage the folks look not as social issues. Look to the economy, look to your future. Look where you have a chance to survive. Charles all right. And, maybe social issues too but not saying as important. Unfortunately we need a growing economy, number one. Charles thank you very much. Really appreciate it. Another example of Government Spending running rampant, how is this for some outrage . More than a million of your tax dollars spent on, get this, a study about smoking in brazil. Thats next. [ male announcer ] imagine this cute blob is metamucil. And this pk is the inside of your body. See, the special psyllium fiber in metamucil actually gels. And thagelling hes to lower some cholesterol. Metacil. 3 amazing benefits in 1 super fiber. Charles guys, got two quick stocks for you. Dont tell stuart. Good thing he is on the found. Stiffle downgraded microsoft to hold from buy. My subscribers are still long the stock so well take the hit. Liz i think stuart is watching. He drove the tractor into a ditch. Charles i hope he doesnt have the flipflops on. Unquell sam, apparently he is not unique. He loves brazilian women. So much so, 653,000 american taxpayer dollars were granted to a brazilian researcher to fund her International Tobacco project which ultimately aims to help brazilian women to quit smoking. Cant make this stuff up, liz. Liz what are they talking about . Brazil has aggressive antismoking policy this research, poor brazil, they need the money. Send the money to detroit and places that need it here in the United States. They raised tobacco prices. They have done media and marketing campaign. They cut smoking in half in brazil in the last 20 years. Charles my thing i think is more egregious, how do people get the grants . If Willie Sutton was alive. Forget the banks, draw up grant requests. How do you get them . Its a i amazing liz 31 billion in grant money available. Charles 31 billion . Liz 31 billion. I tell you i know for a fact at love these researchers actually use the money, im not joking to buy houses on lakes in places that they want to travel to. Charles talking earlier in the week, about the restaurant organization, union organization, pushing antibusiness agenda. Getting taxpayer dollars. How do they go about it . It is amazing. Should look into it. 31 billion. You can imagine, waste, fraud nd abuse in that thing. Liz use the money here in the United States to help it our people, our poor people. Charles brazilians can figure out how to stop smoking. They already have. Theyre doing it. Charles absolutely amazing. Thanks a lot, emac a judge shoots down new york citys controversial stopandfrisk law. New at 10 00, a former nypd detective will weigh in. You know this guy. Well talk to the man that printed this dress from a 3d printer. Is that part of fashion future . Well find out. Smoking gun from lois lerner, the reporter who first broke the irs scandal. Stay here. All new hour of Varney Company straight ahead. E eening tools, and guaranteed 1second trades. And at the center of it all is a surprisingly low price just 7. 95. In fact, fidelity gives you lower trade commissions than schwab, td ameritra, and etrade. Im monica santiago of fidelity investments, and low fees and cmissions are another reason serious investors are choosing fidelity. Now get 200 free trades when you open an account. A quarter million tweeters is beare tweeting. And 900 Million Dollars are changing hands online. Thats why hp built a new kind of server. One thats 80 smaller. Uses 89 less energy. And costs 77 less. Its callehp moonshot. And its giving the internet the room it needs to grow. This is gonna be big. Hp moonshot. Its time to build a better enterprise. Together. We have in a new our of varney and company. Jim demint saying take a stand, get the lawmakers on record. And bo dietl on new yorks lot getting shot down. Mayor bloombergs outrage over the decision and the man who first supported the irs campbells story is here. Do we finally have a smoking gun . Look at this address. Is this the future of fashion . 3d printing. Here we go. It was not an invisible but rest. We are checking the big board up 30 points and we are down a slow drift. Maybe we thought we would bounce back a little bit. Liz we are in a directionless market and listen, and i will take this market right now. We have been down 10 . Every summer the last three years. Sort of disappointing, not so great retail sales number came in. It is still coming in positive. Stuart charles the economy is still pumping along. That is the view could describe it. The New York Times reporting the Obama Administration is delaying another provision of obamacare dealing with Consumer Protection part of it that limited your outofpocket costs, feeling a push to defund the healthcare law. Senator jim demint telling lawmakers to take a stand, quote, politicians who oppose obamacare should not vote to funded. Those who wanted socialized Healthcare System should vote to fund it. Theres no middle ground and no place to hide. Senator jim demint joining us now. Strong words on the eve of a monumental showdown. Before we talk about that, republicans themselves are a little split. A lot say the fund and others say the way. There is the problem delaying it . We are talking about the same thing. If we dont fund it on an annual appropriation bill it will be delayed a year but the bill is clearly unfair, and affordable, and popular, and increasingly unpopular as people find out what is in it and the president is giving congress a waiver, unions waiver, and big corporations but the individual americans are stuck with this thing starting oct. First. Charles to your point the latest gift, this is amazing and you must have read about it but there was going to be a limit on outofpocket expenses, individual would be 6,350 for family, 12,700. Because Computer Systems arent ready to go Insurance Companies i going to be allowed in some cases to lift those limits and sometimes they wont have a limit. Back to your point, Insurance Companies get a pass. Big labor gets a pass, unions are getting a pass. Everyone getting a pass exit the average person sitting at home watching the show. You are right. Either we should all live hundred or no one should. This bill is not good for america. It is going to hurt our Healthcare System, hurt millions of americans. 0 you have to do is look at britain to see how this evolves. The strategy i have heard from some republicans is lets fund it, that americans will see what a mess it is and we can repeal it later became cant repeal it wants the private Insurance Market dries up, once employers drop their plans. There is nowhere to go but a single payer system and harry reid has already said that. They know this bill is going to collapse and we will end up with totally Government Health care. That is not what americans want. Charles lets talk about more realities, back to the republican side. If the plan is to go after the continuing resolution and stop this government in its tracks, stop paying bills in its tracks, the president would say hold the economy hostage do you think we have enough members who can stand that kind of p r hes . That is the question. Republicans have the courage of their convictions. Just about every republican in the house and senate has run their campaign on stopping the obamacare, pledging to fight to stop it. Of republicans in the house of representatives passed a bill that funds the government in its entirety except for funding obamacare than the president has to decide whether to accept that funding or shut the government down. Americans arent stupid. If republicans take a clear message to the American People they are going to figure out the president is setting the government down in order to protect this law that he has given waivers to people who supported it. It is not fair and i think americans need to have this debate and if republicans want to introduce a bill that would delay it for a year that would be two good choices for us to debate. Do we defund it or delay it . I think legislatively, the only way we are going to bring this to a head is for republicans to fund the government but not obamacare. Charles it will be a heck of a showdown and about your fellow former colleagues are saying lo former colleagues are saying you are not for reelection and they would rather be reelected first and then make their stand, get reelected and then get more betsy if you will. That is not the way it has worked recently. They told us after 2010 when republicans won the house lets not have the fight now, lets win the presidency and americans were not inspired by that lack of fully. Now lets not do anything now but wait until 2014. Republicans win a majority they will say lets not do anything now but wait until 2016. October first is when people are enrolled in this program, less than two months ago now is the time to bring this to the attention of the American People and that is what we will do on our nationwide tour. Of folks that heritageaction. Com, theyif folk heritageaction. Com, they will join us. Charles one more hit like this you might have everyone thinking of pitchforks and horses. Is working your way so far. We appreciate your time. Back to the Stock Exchange talking about this eli lilly, the leading stock from the s p. The no. One performer, stocks down 1 and up 13 this year. It is a winner, they had the experimental drug showing success and increasing survival rates, definitely a positive sign. Charles there were a lot of skeptics but stocks are pretty good. After a 10 up 3 today for blackberry so once again a winner. The big question is what is going to happen . We are seeing microsoft, possible buying the company but maybe it will be taken private. They definitely are exploring different options in wall street the past two days have been optimistic i guess. Charles the stock is up. Remembers list . Stuart varney confronting Elliot Spitzer on his choice to run fo . Stuart varney confronting Elliot Spitzer on his choice to run for new york city comptroller. Polk said the National Intention given to the spitzer and wiener is embarrassing and looks far worse for Anthony Wiener in his race for new york city mayor according to the college 80 of voters view him as unfavorable, a record high for any mayoral candidate in the city fell only 11 see him a favorable light and voters are not hooked on Elliot Spitzer either at 59 view the former governor as unfavorable. Liz this polk is on friends with what voters are feeling in n. Y. City, they feel they can do better than these two time a candidate. Running for city comptroller he will oversee the city pensions, highly political and has a lot of Union Pressure and other pressure on how to invest those pensions and for him to be, for Anthony Wiener to be hitting a record 80 disapproval is a big deal. Charles Anthony Wiener is a caricature. He is like a walking caricature. You cant take him seriously. The dominican day parade holding up a banana. Liz the etna where to go in the private sector so they are trying to get a job and the public sector. Charles the point about no viable option is probably the reason spitzer might make in. No one knows who he is. Federal judge will in new york citys socalled soccer fist voluntarily targets minorities. Mayor Michael Bloomberg vowing to appeal the decision, the policy made the city a favorite place. Bo dietl joins the company. Beginning in thes we have 2,000 murders in new york city every year, hundreds of thousands of robberies, Violent Crimes and i was a person that used to take guns off the street, stop and frisk and taken hundreds of guns off the street, the point is the guns are killing people. 97 of the People Killed in this city are black and hispanic. When you have a judge that comes out with this ridiculous answer, stop and frisk her neighborhood in a nice area of brooklyn different from the 75, i retired at 75, we still have murder, they call that the killing field, everyone was Walking Around with a gun. Got to get the guns off the street but the gun the going to kill blacks and hispanics. S areo kill blacks and hispanics. They should be outraged. Illegal guns are killing children, and i am outraged about this. My city and your city. Charles that is where the conundrum comes in for a black person. On the one hand i dont want my son ever to be viewed as a potential criminal. It would hurt me if he was stopped and frisked but i understand where you are coming from. Is there any way to address that . Is there a happy medium . The great part about the new York City Police department is the influx of the new police officers, a predominantly hispanic and black and dealing with you could do it a certain way. I could walk up to you or your son and say excuse me, i will pad you down, we had a couple shootings, it is so offensive but as you had them down, my name is bo dietl and if you have a problem, it is a way of doing it. Charles that is old school. Forget community relations. Charles community police. The guy was a decent gentleman, a young man, you respect him but if the guy is going to start mouthing off and tell you get your hands off me and cursing at you and you treat him differently. Liz she is saying he essentially this is over 80 of the people stop and frisk for black hispanics but mayor Michael Bloomberg when you hear his reaction is an ideological decision. Never cited the 30 drop in violent crime. I dont want to scare people but equal right to murders and more robberies on the street. I talked to these officers all the time. They are frustrated. They want to retire, they want to get out. Now camera on me and you judge me like i was in shooting and taking guns on the street, the next day the d. A. Told me what i did wrong and you could judge somebody the next day. When that happens then your life isnt funny, got to get the illegal guns. I am talking illegal guns killing our kids. Charles im with you an illegal guns and the training powered and society because theres a larger issue because we have run out of time. I dont look that you as a black man or hispanic. We are all the same. We got to get kids off the street and a carrying guns and killing our children. End story. Charles i told you about this company linkedin. Today hit a new alltime high. Where are your shares . Shares of linkedin, 344 at last check. 239 right now. August is typically a slow month on wall street, lot not for linkedin, 17 in august, this is a huge winner. Charles they had a phenomenal Earnings Report and keep it going. They had an upgrade yesterday. Back to you in a moment. If you want the smoking gun in this irs and we have one for you. Up next the reporter who first broke this story to the nation, can democrats keep fighting the fight with the mounting evidence in their face . We are going to talk about it next. The boys used double miles from their capital one venture card to fly home for the big family reunion. You must be garths father . Hello. Mother. Mother traveling is easy with the venture card because you can fly any airline anytime. Two words. Double miles this guy can act. Wanna play dodge rock . Oh, you guys and with double miles you can actuay use, you never miss the fun. Beard growing contest and go win whats in your wallet . Win help the gulf when we made recover and learn the gulf, bp from what happened so we could be a better, sar energy company. I can tell you safety a the heart of everything we do. Weve added cuttingedge technology, like a new deepwater well cap and a stateoftheart monitoring center, whe experts watch over all drilling activity twentyfourseven. And were sharing what weve learned, so we can all produce energy more saly. Our commitment has never been stronger. Charles try to make some money. I have got to admit i have been in this, played it for a long time and hasnt done much and a lot of these nutrients stocks got hit. I think they will go together. Take a look at this chart, risk reward is phenomenal and significantly overisolde, 62 of the business, potlatch 30 . Either way this is the stock due for a bigtime move to the upside and if you like to suggest 40. We have new video of irs official lois lerner that might be the smoking gun connecting president obama to the irs targeting scandal. She is talking about the political pressure put on the irs to stop the flood of money pouring into the 2010 elections. Take a listen. And overturning the sickly appropriations. And everyone because they dont like it and anything about it, they want the irs. Charles democrats the maintaining of a party line. In Washington Post oped democrat congressman the Elijah Cummings says theres no evidence of political motivation or white house involvement. Kerri jeffrey joins the company. You were not the reported that broke the story. The video right there. Editor susan james a year ago to some material lot of the American Center for law and justice showing how the irs was treating conservative nonprofit groups. She did a story about that and marc levin of the Landmark Foundation put in a request to the treasury Inspector General Tax Administration to audit this and whether they responded to his request or not the Oversight Committee asked they did do the audit and the audit broke this open and that is the story were following. Charles listening to the lowest lerner peace itself like there was a mad scramble to reaction to the Landmark Supreme Court decision that they thought of the different agencies that probably could handle that and felt like maybe the irs could figure out a way to intervene. That is a possible hypothesis but she mischaracterized citizens united. It says corporations have freespeech, did not say they can contribute publicly to political campaigns. John roberts rose the opinion and president obama went up in the state of the Union Address that year and mischaracterized it the same way and sam all the no sitting in front of him said the words not true. This points possibly to a reason or incentive the irs had to do what it did but the most important thing we found out since congress started investigating this is not just that the irs is dragging its feet in hand over records requested by the investigative committees and house of representatives but specifically have not yet given those committees the records they requested which would reflect communications between the irs and playhouse. Liz you could see why lois lerner pled the fifth. We talk about how democratic highprofile Democratic Senators are writing letters to the irs pressuring them to act but most of those came in 2012. Senator max baucus read the letter to the irs in september 2010, lerner speaking in the video in october of 2010. We need to get special prosecutor to find out who was pressuring the irs in 2010. What we need is we need to have the administration respond to the subpoena the Oversight Committee issued. On july 30th, darrell issa and the committee looking into this and a letter to the acting irs commissioner and said not only are you obstructing our investigation by not responding to our request that you specifically did not give documents out of the blight house, the irs chief counsel. By statute certainly to political appointees in the irs, the commissioner and chief helpful. At the time this was going on the commissioner was a george bush appointee, the chief counsel is william wilkins, the only obama political appointee in the irs. The people who were overseeing the tea Party Applications told the committee they directed the east to the office of chief counsel. Charles the obama appointee. The committee requested communication from that office to the white house and other Communications Relevant to that. The irs failed to turn them over. The committee charles the saga will continue as you will stay on top of the. This is a damning video and you can no longer call the scandals phony. Not that you ever could but the more you call in phone the more stuff like this comes out. I could listen to you talk about this all day because it is fascinating and important but we have run out of time and we will have you back real soon. I want you to check this out. This is made of 3,000 different pieces. After the break the designer says 3d printing clothing isnt too far away from ending up in your closet. That is your size. I wouldnt be wearing that. This man is about to be the millionth customer. Would you mind if i go ahead of you . Instead we had someone go ahead of him and win fiy thousand dollars. Congratulations you are our one millionth customer. Nobody lik to miss out. Thats why ally treats all their customers the same. Whether youre the first or the millionth. If your bank doesnt think youre special anymore, you need an ally. Ally bank. Your money needs an ally. If youve got it, you know how hard it can be to breathe and man, you know how that feels. Copd includes emphysema and chronic bronchitis. Spiriva is a oncedaily inhaled copd maintenance treatment that helps open my obstructed airways for a fu 24 hours. You know, spiriva helps me breathe easier. Spiriva handihaler tiotropium bromide inhalation powder does not replace fastacting inhalers for sudden symptoms. Tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. These may worsen with spiriva. Discuss all medicines you take, even eye drops. Stop taking spiriva and seek immediate medi if your breathing suddenly worsens, your throat or tongue swells, you get hives, vision changes or eye pain, or problems passing urine. Other side effects include dry mouth and constipation. Nothing can reverse copd. Spiriva helps me breathe better. Does breathing with copd weigh you down . Dont wait to ask your doctor about spiriva. Bounce is great because the freshness lasts for weeks in the drawer. Why cant everything stay fresh that long . [ male announcer ] how do you get your bounce . [ man ] lasting freshness. Charles time to check the markets, we opened higher but going down ever since, almost 70 points. 3d stocks taking off this year, two and mention the lot on this show, first time talked about 3d systems march 8th, stock was trading at 37, almost 50 right now and stratus is another one, it hit 100 a day but this is absolutely on fire. Speaking of 3d printing would you be interested in wearing a full length gown made from the 3d printer . How about a belt . The next guest says this is not a trend but a game changer for the fashion industry. Nice vellum we see shown. What is it made of . A laser centered nylon. Charles laser centered not on and apparently made from you print out several small pieces and you so them together. They are fused together, this could all be printed in one piece if the machine were large enough. The hold down is printed from the assembled, articulated mesh, putting textile in the machine and they are joined together afterward, we 3d printed something together. Charles you didnt use a small printer, you use something strong, an industrial strength printer. It is and industrial 3d printer. Lighting out taylors, people at the machines if this took off. Yes eventually. Easier to make a dress of of it . It opens, not a question of easier or difficult but opens a lot of possibilities we didnt have before. You dont have to ship a product, things can be made locally on demand. If it were a song or a movie it breaks down into something a lot more flexible and also the complexity of that address is 3,000 unique articulated connections, each one slightly different by mm so could never have made the pattern of charles it was made ature. Specifically for this model. It might put out the taylor of taylors out of business but the bulk of the guys like you, fashion designers out of business as well . If i like a dress and put it into the machine willets it out at some point . You need material the have to be an artist and theres a way of controlling the material. Youre still dealing with material. Charles how did you get inspired to do this . What want to make address using the 3d printer . Something i wanted to do for a long time because when you can print the address traditionally it was ridge and material, it is flexible, breathable, you are showing of a full kind of capacity you can do and you can make anything. Charles couple things on the desk as well. Also made through 3d printing. 3d printed directing metal. That is the belt. Charles and this is made of metal and this goes to show you with the 3d printing you could use any base material, silk, look at this, this is liz i you wearing that . Doing this weekend. Charles only have to take off. The point is you can use any material, you can use paper, metal. People of printing would now. This is the same machine finished a little differently, electro pleaded chrome. Liz i want to see make the tie for charles payne. Charles that will be easy for you. Realistically, a lot of people are not thinking about the ultimate implications. What does this do in the long run to manufacturing . Realistically. I have read it wont be unreasonable to build a 747 with 3d printing. Where does that put manufacturing, manufacturing jobs . In the cloud. Will do for manufacture what the internet did for social life. If you know we have a centraaized factory you liz my father worked selling pattern co. And that was a failing industry. Do we want to lose the craftsmanship of people who console and the address on their own . Charles this is revolutionary stuff, the kind of thing not to go on a tangent but you are creative. We have a real important breaking news item, congratulations, look forward to more items from you. We do have some breaking news concerning the merger of American Airlines and usair ways. The u. S. Filed an antitrust lawsuit to block that deal and u. S. Air wis stock way down on that down almost 8 . President obama continues his fight to raise the minimum wage, two workers facing lockouts all over the country. The for autos zone at office depot chief to react to this after the bell. All these full time hours, not enough to take care of our basic needs. We need a livable wage, not a minimum wage, and we feel we deserve it. Charles a lot of energy news. 200 gathered in front of the state department to protest the Keystone Pipeline. Mexico taking its oil Industry Private after 75 years of state control. Take a look at oil. What do you think of this . Mexico say and we made a huge mistake. Since 1938 nationalize. Lot of countries passed them. Their production is down. I want to show you the audience for this screen, how much their production has gone down even in recent years. Liz buy 25 . Charles it is crazy. In the meantime we have this amazing technology, innovation and abundance of Natural Resources and we getting pushed back. Liz important report about the Keystone Pipeline that said that if you stop the Keystone Pipeline you still have proved, heavy crude being refined in the gulf coast from venezuela so it will do nothing to stop green outguess emissions, the Canadian Companies are building pipelines going east and west bringing the oil to market and the president S Energy Department put out a report saying not 50 jobs would be created as the president said but 162,000 jobs have been created in oil and natural gas since charles highpaying jobs where they dont need food stamps or freed cellphone, americans proud of what theyre doing, absolutely not, like ships crossing in the night, absolutely amazing. Know what else is amazing . Twentyeight million parttime workers and the minimum wage war that is not letting the. Retail and factory workers demanding a minimumwage be waged to 15 an hour. For receipt of office depot and autos zone joins us now. Thanks for your time and expertise. From an economic point of view fifteen hours minimum wage what does that have on every one . The American Dream has always been about entering the workforce and moving your way up progressively making more and more money so the idea of setting a higher minimum wage seems like the great thing to do and an appropriate thing to do if you want people to live the American Dream. The problem is doing so can hurt the very people you are trying to help. When you raise the minimum wage companies cant afford it and cut back the number of hours, cut back the number of jobs that are created. Disproportionately hurts the people who are entering the work force. Is proportionately herds Certain Industries over other industries because if you can move the jobs to lower wage area you will doing so the people in cant move the jobs end up cutting back the hours or automating so if you have people working on a packaging line minimumwage goes up to 15 an hour maybe that is the economic justification for adding automation and kills jobs. Charles here is the other side of the argument and what we are talking about here. It is fair, second of all it is part of the middle class bargain which hints at some sort of birthright the federal government thirdly is in Corporate America just greedy . Wall street at an alltime High Companies lot of money, why dont they share of a wealth . The objectives are great to move people. The problem is you dont want to raise the wage and destroy the jobs they dont have jobs and. If you look at this recovery it is a jobless recovery. We added 162,000 jobs last month, very few years today barely keeping up with a population entering the workforce, 77 of the jobs that have been added this year have been parttime, and if you make it too expensive to add those jobs you will kill the recovery. It will go away entirely and raised unemployment even higher. I think the region deals with the. We are talking the federal minimum wage increase and you have the let them deal with the role that the companys deal with it and if you want to watch for 6. 50 an hour charles you are talking freemarket solution. That might be too complicated. Pretty radical. How long do minimum wage workers stay in that position, how quickly do they move up the rates. The minimum wage folks are people coming out of high school organized for working their way through education or college or your first job out and you tend to move up so what happens is the largest amount of unemployment today is in that group so if you raise minimum wage and take away or destroyed those jobs or cut back the number of hours so there part time when youre doing is raising the unemployment or forcing people to get two parttime jobs to cover what would have been one fulltime job. Charles you articulated this in a way that makes sense and is on a standstill being rejected. We need to come back and explain it more than once. Appreciate your time this morning. Forget about ebay and amazon, the new trend start your business and sell the products on facebook. A company that is making millions doing just that. [ male announcer ] at his current pace, bob will retire when hes 153, which would be fine if b were a vampir but hes not. Hes an architect with two kids and a mortgage. Luckily, he found someone who gave him a fresh perspective on hisortfolio. And with some planning and effort, hopefully bob can retire at a more appropriate age. Its not rocket science. Its just common sense. From td ameritrade. Stuart retail sales rose for the fourth consecutive month, two since july increase in june spending growth in july at pace at seven months. 10,000 for 288 surviving passengers of the crash in San Francisco that crash landed short of the runway july 6th killing three passengers and injuring dozens. Microsoft has been downgraded to hold this morning. Analysts are calling the Windows Business microsoft shares are trading down slightly this morning. Next, the new trend, start your business and sell your product on facebook. Make millions doing it. Charles the Justice Department blocked u. S. Airways, shares are down how much. Not 7 per cent. And usairways, and the Airline Sector getting hit because of the doj filing a lawsuit presented by the attorney general in six days and the District Of Columbia to block the this merger, less complication would be higher fees. And these stocks. Charles Childrens Clothing company finding a whole new way to connect with customers, facebook. Theyre using facebook to sell their product and connect with and daniel revenues attracting bigname investors including a 0 l and steve case, the founder it joins the company now. And there was a while when everyone was making money on demand people selling things trying to do things, and take advantage of facebook. That is the first thing have to say it wasnt planned this will happen to be an facebook making that connection with customers and starting that dialogue. And had some things i wanted to move, i have been selling on ebay only and paypal voice if everyone is interested. And everything sold and the first moments of what just happened here. Charles what happens to the ebay business. Did you stop doing that . And should ebay be watching this . We did. Within two weeks we moved off of ebay completely and never went back. It was such an easy way to be exactly where they were. And Different Things like that we were able to go discussing where they were where they wanted it, and very frictional this purchase. Charles and also the builtin sales force, see it on facebook and they buy it and coast powerful messages. They love to share their childrens pictures. And escalated from day one, or children meeting faubus for the first Time Worldwide one family went to china to adopt her daughter and wore nothing else and it posted the journey. And bond was so tight, and close the afterthought. Charles now you are starting to grow, you have grown beyond facebook and attracting big names. Where do you go from here and are you intimidated by the next step and will this be a big one . Will be a big one but it is very exciting and not intimidating in any way. We are so excited to be on the forefront of this social media and shopping and understanding how much those two tie together and i dont think anyone has gotten that that point. To be able to join forces with revolution, steve brought americaaonline, what a great person hasnt seen and he has done this kind of thing and we have done so many platforms we are able to expand into, we are starting to test sales there which have taken off from the beginning and really taking this and other realtime manufacturing that we do which is absolutely our secret salt and be able to expand the. Charles i am impressed and it is interesting, not necessarily of fluke but you saw an opportunity, went for it, that is what the American Dream is about, congratulations, i am going to check out the clothes may run. We appreciate it. Thank you. Charles some big news for the airlines, key merger blocked. We have more for you on that next. 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[. ] [click click] [. ] neil on lou dobbs tonight the Obama Administration and bound by law, a member of the house judiciary and Oversight Committee, reacts to the ad the administrations continuing assault on law and order tonight at 7 00 eastern. Charles big news in the airline industry, the Justice Department blocking the merger between American Airlines and usair ways. You have been looking into this court filing. Liz they are concerned about ticket prices going up as consolidation moves through the airline industry. 85 of seats are held by four of the Major Airlines and what they are worried about is American Airlines and usair ways dropping hubs. You could drop philadelphia which is 90 miles or so from new york city, drop charlotte in favor of miami so that has political connotations because there are jobs at those airports and the states are weighing in on this decision too. Charles you think they would do that . Consolidation and paring down the work force redundant jobs, to get rid of hubs particularly in large cities. Liz usairways told congress we are not cutting back, we will be expanding so that would mean cheap prices and competition and the discounters are helping to bring airline prices down, cheap airlines that are out there. Before southwest, the spirits of the world. What about this . Are you getting any indication what the Justice Department would want to let this go through . What would the compromise be . Liz all we can get from the airlines is a promise we wont cutback, that we will continue to expand so you take them at their word. Doesnt seem that was enough for the Justice Department in blocking this merger. Liz charles the stock is taking a big hit, thanks a lot. More and more people are saying goodbye to the good old u. S. A. Renouncing their citizenship and giving up on america. The reason, you guessed it, taxes. That is next. Any last requests mr. Baldwin . Do you mind grabbing my phone and oping the capital one purchase eraser . I need to redeem some venture miles before my demise. Okay. Its easy to erase any recent travel expense i want. Just pick that flit right there. Mmm hmmm. Give it a few taps, and. Its taken care of. This is pretty easy, and i see it works on hotels too. You be now if you like that, press the red button on top. How did he not see that ming . Whats in your wallet . More and more americans are renouncing citizenship, and, in fact, many record numbers to avoid u. S. High taxes on investments held oversaws, and u. S. Citizens renouncing citizenship first half of this year than all of last year. They are saying see you later, and even though, what, its 1,000, 500 or so and 600 Million People living abroad, the fact we dramatically tax income at the federal, state, and local level is refuel bad, you can see that drain happening even at the local level, cincinnati, kansas city, st. Louis, pittsburgh, chicago, detroit. When you tax peoples income, they pick up and leave. Thats the argument made a lot in this. I guess the left, and i hear president obama say this or hint at it, if taxes are everywhere, its only a trickle of people that leave. Its one thing to leave california and move to texas, if we tax them all the same, it doesnt matter. The left doesnt acknowledge the fact that people move and take their homes and their families away from high tax situations. Is there a tax level you renounced your u. S. Citizenship . Up to, i think, 60 is ridiculous. 50 now . New york city, i mean, just about everyone. In the chamber of dc, facts dont get in about the debate. I like to believe i would stand and fight, but we talk about 80 , i would stand and fight. Thank you, we had fun. Dagen, over to you now. Thank you so much, charles. No way, says the doj. Justice department filawsuit tof u. S. Airways and america. The stocks selling off. Bill off the board, and at jcp erks nney, the fight, what it means for the future of the retailer, the retailers not a fan of google saying the tech giant stole oracles stuff calling the ceo an evil doer. Musk unvailing the hyperloop. Will people use the multibillion dollar idea to travel . Its like a big vacuum tube. All that, and so much more coming up on this hour of markets now. Dagen reunited and it feels so awkward. Connell sending you on a hyperloop to cover the story. Dagen big story. Connell the Justice Department filing the antitrust lawsuit to block the big merger. American airlines and let