Transcripts For FBC Mornings With Maria Bartiromo 20171121 :

FBC Mornings With Maria Bartiromo November 21, 2017

Shows dealmaking is their record this month. 200 billion in net steals already paymasters watching earnings as well set to report this morning. Profit and revenue above expectations. Numbers hitting the tape. Stock is done while the last couple months and we are looking at the numbers to exceed expectations at the latest, as this morning. Futures indicate a slight gain at the opening of trading set to open up about 50 points. Nasdaq s p 500 looking out of bed this morning. Markets edging higher. European embassies across the board games. And the dax and germany have one half of 1 . Gains across the board is welcomed to make a average in the hang seng up about 1 and 2 overnight. Charlie rose now facing Sexual Harassment allegations. Eight women have come forward with their stories in a cbs cohost among time pbs star has been suspended at all three Networks Said he works. The safety concerns that you were to tell us about the multimillion dollar sign after regulators found unemployed drivers have criminal histories and suspended licenses. Doubling down again in a new interview refused to think President Trump for getting his son out of a chinese prison. All of those stories coming out. Fox Business Network dagen make towel. Mitch rochelle and Fox News Contributor John Mayfield is here. Good to see you. Thanks for joining us. Dagen one of my bulls and bears cohort in person. Maria normally you are remote. Siva nassar has been remote. Maria saturday morning television. Dagen sunday morning futures. Now charlie rose, just incredible. We will talk about that. Tax reform on the docket. Talk about getting their arms around the dataset. Talked about entitlements forever. How do you get out of the dataset . Revenues are only growing to 1 a year. They should be growing on the economic expansion we had growing 3 , they are only growing at 1 . Not growing fast enough. We will talk about this. The budget director. Congressman lee zeldin. Bleeping new york on higher taxes. We will talk about that. Alabama, illinois. Our top stories this hour. The doj taking on at t. The Telecommunications Giant from acquiring time warner alleging that the 85 billion acquisition would substantially lessen competition and result in higher prices for consumers and less innovation for millions of american. At ts ceo is vowing to fight the case insisting the deal is above board. Watch. This defies logic and it is unprecedented. Ive done a lot of deals in my career, but ive never done one where we disagreed with the department of justice so much on even the most basic of facts. Maria joining us now, the wall street journal, wall street journal, wall street journal, rank and its coming thank you for joining us. Are they going to sell may be the broadcasting business, cnn . I dont think theyre going to give up anything. Theyre making confessions with the Justice Department says they dont want to do that anywhere. The head of the antitrust division is say no more behavioral remedies, no more concessions. We want structural changes. If you put behavioral rules on companies the Justice Department is going to have to enforce those for years and years to come. A lot of criticism that none of those worked in the comcast acquisition so lets go big structural changes in at t say no way. They dont have to divest anything. The mac we talk about this in the green room. If you look at the Business Today of broadcast media, is not the business in the past where you worry about the Radio Station known in the newspaper in town. The Justice Department focused on what the future of broadcast media looks like. One of the main arguments in the lawsuit is they are trying to protect new online Disruptive Companies like netflix and who will in companies are merging and by owning time warner, at t and directv will protect the linear cable tv bundle in decline right now which is transferring media across the landscape. Dagen at t could really put the squeeze on the netflix already been Cable Company is for operators within time warner with tnt, cnn. Com exactly. Because direct tv is a National Provider and if it does this really nice set of content with time warner, could raise the price is and then force every single cable competitor in every Single Market to raise prices or have a blackout of the time warner content which would shift all this traffic over to directv so they could win more customers. It is the normal balance content customers have with cable companies. These are the companies that dont directly compete because youve got the distribution of the content. Does this suit have viability . It is really interesting to see. I cant put out on it one way or the other. The Justice Department does make some argument that consumer advocates are making before this deal have been. I dont think the comments the president has made will be helpful to the Justice Department because at t will use those in its defense. It held a press conference where top about how i would fight this deal at a Conference Room off of cnn newsroom yesterday. The messages being sent. The comcast time warner deal got blocked after the comcastnbc deal. It is going to be worked against at t in this deal Going Forward. Comcast acquisition back in 2010 or 2011 is the bogeyman in this case. The Justice Department put behavioral remedies in place that said comcast cant use its new leverage to stifle innovation for online starts. Thats a really difficult thing to try. Maria the market has changed so much. Its not the marketer was 10 years ago when you look at the players out there today. They want to put together a different type of competitor to facebook, amazon, google, Tech Companies seeking attention for hours upon hours. If you are free market person and look at the Justice Department can watch by the way a shocking inhabiting under republican presidency we should point out maybe we should expect this from a more liberal president. When it comes to creative content, so many creative people out there you could say hbo is a Gold Standard anymore. You have all these other content providers. Even netflix and amazon are creating their own content. Why put such restriction on at t and they could start their own content companies. Maria look how much money netflixs spending. How about apple. Apple could start pouring monday into content and programming if they felt like it. They have been. Theyre rushing the hollywood. Amazon has had a lot of success. The whole industry isnt as dramatic changing. The Tech Companies are creating new content. Some person who has a really funny instagram accra because young people are spending the vast majority of their time scrolling through fees on instagram or snapchat. My kids watch youtube as a media source. Thats where they go. It is really, really surprising that this is a republican argument that they are making. Vertical mergers, which they say is our historic rate not challenged by the government. The new antitrust chief outlined in his speech a whole new way of thinking about antitrust deals for historically what the Justice Department regulators have done is say there are potential harms of this consolidation, so lets put these behavioral remedies in place. Is this a buying supply . Its a matter of time for amazon or facebook buys right. In the 90s that made those companies from the distributor buying supply. I dont understand how this is different in this case. What they are saying is you can use that supply as a consul against her writers. Direct tv competes with comcast in spectrum in every other company out there. If you raise the price, and they either to raise their prices to consumers or a blackout at which point directv could come in and say such a direct tv. What do you do in your wireless service. Does it go through if they give us a minute directv . Divest directv for turner which is the cable channels. Thats a nonstarter for at t. Thats kind of the whole point. Dagen can i raise the issue that netflix or amazon that might not want this to happen, do they just have better lobbyists than at t does . Theres always the the power given the swamp going on that we on the outside cant really see it . Antitrust expert told me once to never underestimate the power of politics in these types of things. Amazon in the Tech Companies have been swirling around that maybe apple is going to buy disney or amazon is in the market for 21st century fox. They may decide it is cheaper and better and more is building ourselves. Hollywood in content creation is acquire about talent. It is not so much the companies themselves these days. All eyes are on foxs right now as they continue. You cant do a deal now. This lawsuit will freeze all kind of talks until its resolved. Install entertainments. I think it does because it would read difficult if youre a distributor to say we own content when a major distribution content deal. Fox to disney that would be content to content. If youre an investor in a Media Company right now, you are watching the bundle start to melt before your eyes. Direct it has been been effectively blocked right now. Thanks so much for your expertise on not. Coming up, charlie rose is suspended after a women came forward with accusations of misconduct. Well tell you about that. Those supporting the double beat a few minutes ago. Campbell soup reporting the earnings news. Back in a moment. Volatile markets. Something we all think about as we head into retirement. Its why Brighthouse Financial is committed to help protect what youve earned and ensure it lasts. Introducing shield annuities, a line of products that allow you to take advantage of growth opportunities. While maintaining a level of protection in down markets. So you can head into retirement with confidence. Talk with your advisor about shield annuities from Brighthouse Financial established by metlife. Maria welcome back. Firefighters out on a massive fire, spring from a highpressure gas main. Good morning, maria. Firefighters getting so congested getting shut down. Residents can stay away. The pipeline says that isnt directly connect it to any other lines. One piece of good news. Major legal defeat for the Trump Administration against sanctuary cities. The president s executive order to cut funding with immigration authorities calling it uncommon to traditional. Another headline we are where watching. Cbss sunday morning show host charlie rose accused him of making unwanted advances towards him. Pbs decided to halt distribution of the trademark interview show following these allegations. As if they were to aspire to work for them through 2011. I am greatly embarrassed that i behaved insensitively tenday acceptors on stability for that though i do not believe all of these allegations are accurate. Top earnings now. Those as i better than expected earnings with quarter profits doubling more than a year ago. Hurricane related more than about 25 homeimprovement and Hardware Stores to their chain. As you can see the premarket up about 1 . Medtronic, Campbell Soup, hormonal foods also due to post the results later today. Those are your headlines. Maria thank you, cheryl. Pretty big quarter. Imagine you had some great data appeared willing to talk about that. I do have some data appeared the salted actions in the house and senate bill. Prior to that, people are leaving in droves. Net migration out. People leaving. Almost 90,000 People Living in and moving into the attacks dates. Almost 25,000 people. Jacksonville moving out of new york. Maria 6 Million People use that salt deduction. 6 Million People. People use the state and local tax reduction that saves them and cut taxes by 100 billion in california that year for those people. What is interesting about texas and florida is the economic work you are seeing in the cities in the state. They have lower cost of doing business and lower cost of living and that has been very catalytic for people who want to live there in companies that want to start up their entire operating in a low tax environment. The Tax Foundation did some studies if you look at new jersey, california, new york. They are very antibusiness from a tax perspective. You know, the state and local tax reduction leaving is going to be further drained on the cities. Maria if im a republican lawmaker basically tells me to move, those are fighting words. Because a lot of people cant move. I can telecommute if i have to be in front of the camera all day although you do not. I was thinking about 10 to 14 when i can legally move out of new york. The last day that was in his interested in local taxpayer legally move back to the data type is about 10 to 14 . Maria thats a big deal. Weve got more in this. We are going to speak with new york congressman lee zeldin as well. Stay with us or not. Colorado sobbing over with a multimillion dollars fine for letting convicted felons and people convicted of duis drive for the company. Diaz hope in god who is accused of shoplifting in chinas bill will not stay thank you to the president for helping to get his son home. 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A new kind of network designed to save you money. Call, visit, or go to xfinitymobile. Com. Maria welcome back. Colorado hitting goober within a . 9 million fine over driver qualification. This is something uber does not need. The commission was found with either ballot felony convictions and other issues over the past year and a half. The question now amid all the other questions they are facing whether its Sexual Harassment or whether drivers is if you do a third Party Background check, how is it possible that you have all of these drivers driving for you . Uber says they are reviewing their options and of course working with the commission, but nonetheless, some feigned uber does not need right now. Maria one of the shooters in the tragedy was a uber driver. A mode of people down. Maria it is why this matters. Is that the only news you are following in terms of uber. Will these issues become obsolete . This is a big quarter. Fenton is placed an order for 24,000 Autonomous Vehicles from volvo suvs. Fully autonomous governing right on certain cities you can hail a uber but there is a driver there just because. Not totally comfortable with the technology of that this is getting the driver out of the equation altogether they expect to do so in 20 night team. Rowboat taxies fully autonomous because of this deal could become impaired for volvo its interesting. They sell cars to people. Now they are selling cars to bluebird that kids a car. Drink your tosses both treated and turned it into driverless and have a person in there. They would use pull that kind of miss. As no Steering Wheel in it . Thats a very good question. I believe it does still have a Steering Wheel. You could have someone driving there. Holy driverless they are going. Maria i can imagine the city would allow vehicles on the road if there wasnt an individual inherits the backup. Not by 2019. Dagen there will be a fight by the taxi and limousine commissions in every city to avoid basically getting rid of drivers. You have all of these issues with your drivers. This gets rid of drivers altogether. Dagen i got charged for a ride i did not take and it took days to get uber to refund me. I had to shame them on twitter. It was the only way to get them to refund me. Maria when you could do that. Lauren coming thank you very much. When they come back, officials serve apple with a search warrant to get the information on the iphone that was used by the gu

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