Transcripts For FBC Varney Company 20171017 : vimarsana.com

FBC Varney Company October 17, 2017

Number one, the economy is growing, number two, commit today tax cut and number three reports are strong. Look at netflix. Prepare to spend 8 billion to produce its own content next year over 5 million new subscribers signed up in three months. The stock is above 200 per share. Sales up worldwide reported this morning by Johnson Johnson jo. Morgan stanley, same story with Goldman Sachs, all of them dow stocks, all of them up. Lets sum it up, the media is full of report about hostility toward President Trump on wild press conference, investors could not care less. We are watching for dow, 23,000. I believe its coming very soon. You have to see this, Varney Company is about to begin. I hope hillary runs. I hope, hillary, please run again. Stuart i would call that [laughter] stuart the president hopes hillary runs again in 2020, im sure he does. He was all smiles with Senate Majority leader Mitch Mcconnell talking tax reform andy puzder is here, ceo of hardys and carls jr. , are you buying unity on tax measure . Absolute i am. Ic it was very clear yesterday that Mitch Mcconnell and the president are both on board, they know they have to get tax cuts, Everybody Knows they have to get tax cuts done this year if they have any chance of retaining the senate in 2018. So, look, the market believes it, if the market didnt believe it you wouldnt be up at 23,000. Stuart some negative comments, though, from some republicans in the senate, they are holding back on gun hoe for tax cuts, that doesnt worry you . Not at all. I think strategically some people chose to hold back because of the last minute they want their vote to be the one where they get their point negotiated, where they can retain a little more negotiating power. I dont think even john mccain has to know that this has to get done. So im with the market. I think this is i think things look very good. Stuart all right, youre on board with unitity members of the message. The dow is going up 20odd maybe 30 points at the opening bell. By the way, we hit 22,000 on the dow, that was august the second, a couple of months ago. 23,000 on october the 17th, stay tune, it could just happen. Look at netflix, that stock is going to be up this morning, they put up a strong no, no. We are going to be down a fraction. Ashley yeah. Stuart they put up Strong Subscriber growth yesterday, 5 million new people coming on board. They were up earlier, now they are just about dead flat. We will see how that pans out. Lots of big names reporting profits today. Goldman sachs, Johnson Johnson, morgue anticipate stanley, all of them coming strongly. All of them on the upside. Market watcher, one of many, actually. [laughter] stuart these profits, they are looking pretty good so far, what say you . They are looking very strong specially from the financialses like Goldman Sachs, Morgan Stanley, jpmorgan last week. Look at netflix, stuart, netflix came out with a great number on the subscriber growth, but look at how much money they are spending more content, 4 billion. Now stuart 8 billion next year. Mike as they keep spending money for their content and disney is stepping away for own streaming service, i would be careful with netflix. I would not be a buyer at these levels. Stuart may i add something that liz has been talking about, off book Balance Sheet shows 28 billion dollars in debt. Total. Thats a big debt. Liz shareholder equity, its a lot. Stuart negative on netflix . Mike i think its gotten ahead of itself. Stuart andy puzder, come in here. 66 record closes since election day. The media, though, they dont like to call it a trump rally, do they . No, they dont and really this is about consumer and business optimism. Everybody is optimistic, you look at the university of michigan, Consumer Survey that came out yesterday, it came in at 101, they were expecting 95. Last year at 96, great number. National association of manufacturers, manufacturer optimism, everybody is very optimistic, it looks positive for tax reform, they are even talking once again about trying to do something on repeal and replace. Theres a lot of optimism out there and its showing up in the market, has been since the election. Stuart real fast, andy, 23,000 on the dow today. Yes, absolutely. I think we will hit it. I hope we keep it, we will hit it for sure. Stuart 23,000 on the market today . Mike i have to agree with andy. Stuart we are all in agreement. Ive got this for you, radio host and nra host dana lash, she says she had to move, leave her home, shes received Death Threats, here is what she tweeted about this, spent my weekend prepare to go move due to repeated threats from gun control advocates and there is a picture of belongs of hers in garbage bags, judge napolitano is with us this morning. Im incline today say so much for free speech . So much for the inability to the government to protect free speech. The Supreme Court ruled that the government has obligation to protect it. She is commercing the freedom exercising by ads she makes in the nra and the manner she express on radio. The government cannot permit whats called the hecklers veto where the people in the audience so disagree with the message that they intimidate or shut down the messenger. When the government fails to stop the intimidation, its complicit in the destruction of her free speech. Stuart lets be clear, though, its not the governments fault that ms. Lash is receiving Death Threats . Correct. Stuart its up for the government to fix it . Correct, she should not fear making the nra ads which are compelling and effective and she should not fear in defense of the right to keeping bear arms. I make the same defense all of the time and you have to do it without fear but measure of confidence that the government will do its job. Stuart big picture, my opinion, the violent rhetoric is coming from the left and it is the left and that violent rhetoric thats causing this kind of situation, thats my opinion. This is an ageold argument. Left thinks that government can take care of us. We know it cannot therefore we have to take care of ourself, its not just me, its the Supreme Court, the United States in heller versus is district of colombia, modern interpretation of bear arms. You can ask her at 11 00. Stuart thats right, shes coming at 11 00 oclock. Are you absolute to total freedom to bear arms . Okay, let me tell you what heller says. Its an individual right, this is a Supreme Court opinion, its not a elective right, its a prepolitical right, meaning it exists from our humanity, existed before the government came into existence and it allows us to possess arms, not armaments. Arms, something that you can physically carry that are of the same technological sophistication as the bad guys has and the good guys have. Stuart thats the support Supreme Court interpretation of the Second Amendment. Stuart thats how we live with it in a modern world . Yes, including home state of new jersey where it is nearly impossible to exercise that right because the progressives have yet to and the government have yet to conform to the Supreme Court interpretation. Stuart judge, thank you very much for putting that in perspective. I have not realized the situation before. See you at 11 00. Stuart dana loesh will be joining us and talk about the threats and her having to move. Back to the markets, check the futures, dow 23,000, looks like its going to happen this morning. We are 43 points away. We will be up over 25 when we open this market. History could be made, youve got to stay there and watch it happen. Then we have Hillary Clinton defending those nfl players who take a knee during national anthem. She says, its no big deal, kneeling is a position, what will Mike Huckabee say about that . We will ask him, 9 45 eastern this morning. Forbes out with annual rich list, four of the top five are techies, people who have made money in Technology Like the technology stocks, we will tell you who are the richest people in the world after this im living that yacht life, life, life top speed fifty knots life on the caribbean seas its a champagne and models potpourri on my yacht made of cuban mahogany, gany, gany, gany watch this dont get mad bell mnemonic get e trade and get invested ca yes you can can i kick it . Yes you can can i kick it . Yes you can well im gone can i kick it . To all the people who can quest like a tribe does. Stuart President Trumps pick for drugs are congressman tom of pennsylvania has withdrawn from consideration. The president tweeting the news just moments ago. Joint report from Washington Post and 60 minutes, dan marino helped fuel the opioid crisis, the bill was opposed by the dea and embraced by the drug industry. Mr. Marino out. Forbes out with richest americans list. I want to know who are the top five. Liz bill gates number one, 89 billion, jeff bezos is second, 81. 5 billion and warren buffet is third, Mark Zuckerberg and larry ellison. Stuart four of five technology guys. Warren buffet the outstanding guy. Liz bigger than ukraine. Stuart really . Liz yes. Stuart how many will leave money to estate taxes so the government . All of them including warren buffet. Just kidding. Stuart okay. I think we should move on, shall we . Our next guest named president of new task force to Apprenticeship Program, big deal, michael is with us, associated builders and contractors ceo, michael, i i wt to know how does the Apprenticeship Program work, you take on a youngster, you pay a bit less, you get a tax break from the government, you train them for a specific noncollege job and then put him to work, is that it . Yes, basically youre right. First of all, thanks for having me on this morning. Apprenticeship program is earn while you learn program. The Construction Industry does this and historically done it for a number of years and we do it in different ways. Essentially if you have someone thats interested in the Construction Industry, they come on board, we teach them some core skills around safety and value added skills, competencybase training that they can go out into a project, add value immediately for the company and for the client and then during that process earn and continue to learn and build additional competencies. A phenomenal career path. Stuart how do you expand the program . I know it exists already. Do you expand by giving better tax break, how do you do it . Theres a number of opportunities for expansion, first of all, promoting careers in construction or careers in technical education, manufacturing, et cetera. Its a wellkept secret unfortunately as you know that our industry has 500,000 jobs ready to fill right now and over the course of the next three years, if we get infrastructure, get a modest 2 to 3 growth, we can add another million. So its a big secret right now and my opinion the tradition right now is go to college. I tell you what, in our situation, weve got unbelievable careers, stories of people that have come in and learned how to grow and start their own business. Stuart its an alternate to college, isnt it, thats what it is . Awesome career path. If you take take a look at construction business, jones this or bobs this, people come in to our trade, learn skill and start a business, then the next thing you know they employ people. 99 of the Construction Companies in the United States employ less than 100 people, they are small businesses. Stuart unions say, you are just getting cheap labor, so tell us how much lets suppose youre an electrician, apprenticeship in electrician program, how much less do you earn compared to a Union Electrician whose been on the job a few years . So, listen, its all about what the market bears, its all about competency of the individual brings to the table, someone with a lot of desire can come and learn competencies and get paid for the value that they bring and they grow. We have some stories of individuals that whether theyre not College Graduate or dropouts, come into our industry, learn a trade, learn a skill, grow up through the industry, become Vice President s and owners of the business, the feeling of financial wealth is limitless in our industry. Stuart we wish you well with the Apprenticeship Program, i remember it very well from my days in europe when it worked pretty well, i have to say. Appreciate it. Appreciate it. Stuart yes, sir. We are on 23,000 watch, of course, we have United Health, Johnson Johnson, theyve reported Financial Result this is morning, those three companies will add about 40 points to the dow industrials when trading begins and we only need 43 to get us to 23,000. This could be a big day. Ashley get hats ready. Stuart get the graphic ready. Big day for the nfl, players and owners meeting in new york city, they will discuss anthem protest, of course. I have to tell you ratings for sunday games down big this year and theres talk that the tv networks could take a financial hit because of those anthem protests. We will wrap it all up for you after this. I can do more to lower my a1c. And i can do it with whats already within me. Because my body can still make its own insulin. And onceweekly trulicity activates my body to release it. Trulicity is not insulin. It comes in a onceweekly, truly easytouse pen. It works 24 7, and you dont have to see or handle a needle. Trulicity is a onceweekly injectable medicine to improve blood sugar in adults with type 2 diabetes when used with diet and exercise. It should not be the first medicine to treat diabetes or for people with type 1 diabetes or diabetic ketoacidosis. 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Thats why retailers rely on comcast business to deliver consistent Network Speed across multiple locations. Every corporate office, warehouse and store near or far covered. Leaving every competitor, threat and challenge outmaneuvered. Comcast business outmaneuver. Did you just listen to the question that i just answered . Quarterback room is exactly where it needs to be, okay. We are fortunate to have a Great Quarterback in aaron rogers and we are committed to the path that we are on and we need to play better as a Football Team. Stuart he doesnt want colin kaepernick, that was Mike Mccarthy answering to a question of colin kaepernick. Players and owners are meeting in new york city to discuss protests, ashley, i hear talk about compromise . Ashley maybe. Theres no real agreement certainly not among the owners. Some say you cant they want to respect the players rights but at the same time they have to get past this controversy because its hurting them in so many ways, financially as well. So what do they do . Do they actually change the league rule that says you are required to stand up, players are allowed to stand up but can raise fist. Is there a compromise . Even the owners themselves are very unsure. One thing they can all agree is this is hurting the game, the money that it generates and they have to get past it but the problem is theres no consensus. Stuart i dont think that standing or raising the fist would satisfy the president . Ratings down 8 compared to last year. That could hurt cbss cbs they carry football liz wall street shops are saying, yes, itll be hit bottom line. Cbss profits for Third Quarter will be down, Single Digits around 3 . Advertisement revenue down, same dollar percentage amount. Here is the hops and choice, do you not show them live on television and cut to commercial break. It seems thats what the networks are choosing to do, cbs and nbc, looks like they are doing that, average number of viewers down, off by 1. 2 million less people watching on average each nfl game, so with 50. 2 million. Stuart its taking a hit. They will need to do something about it. Ashley they will have to. Stuart we are expecting well, this is my prediction, i think the dow will hit 23,000 relatively soon and quite prepared to be wrong but i think im going to be right. We have very strong profit reports coming this morning from three dow stocks which should add 3040 points to the dow when the opening bell rings, we shall see. We hope to be on the air on this program when we hit 23,000, we do not have a fancy graphic for you. Cant affor

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