Happy friday. I am Melissa Frances. A lot of headlines to go up to speed. Do jpmorgan ignore the warnings . After new Senate Report after the huge trading loss. Melissa and other mechanical problem with Carnival Cruise lines the third in a month. Lori what is your vice . All day we look at the business of vice. Melissa we have the brains behind the medical marijuana vending machines is is the future prescription drugs as well . Lori en you may like the wings but we know what you like hooters. [laughter] with the famous american brand going overseas. Melissa lets head to Nicole Petallides at New York Stock Exchange it is down 37 points on the session. Still a winning week with eight consecutive sessions were up 10 Straight Days and today is one where it takes a little breather now where it goes over the line 50 times but has been under pressure for some time. The s p 500 is slightly lower but we have Consumer Sentiment in they are feeling bleak and as were getting get it is quadruple witching friday with options expiration. Comparing Dow Jones Industrial average also has a winning week on wall street getting back to those levels from a for the financial crisis. Lori jpmorgan executives are grilled on the london loss rich edson is following it for us. They say they got a wrong but the panel is not letting up. Three point five hours of testimony started with the 16 senators better left is just one. Friday on capitol hill. Senator john mccain said it is hard to except series irresponsibility has been assumed by senior management. But senator levin tries to get at is with a trading portfolio recording a loss of 12 million in one day it was a loss of 600 million so that is where we are with testimony. Also jpmorgan size and shape. To the management of jpmorgan and the trading desk attitude that it was too big to fail to drive up the risk portfolio . Not have all but this was an egregious mistake much regretted not putting reliance on too big to fail. Much early testimony was on the former chief Investment Officer said she was still was lost to which it blames the london office. For those are not cooperating right now in their outreach from the rich jurisdiction. Jaime dimon is not here today either. They said they had heard from him last year over different panels and if todays hearing produces a reason to call him they will. Also to refer this to the Justice Department. Melissa tonight we break down the hearing with the stress test was too exclusive interviews we have sheila bair and dick bove nobody knows the Banking Industry better. We will have them here for reaction. Lori business controversial the business of vice even by pornography scandals standards in making a name for himself and attracting interest from khieu wall street players Charlie Gaspar reid now hit set off. Today and i actually searched for pornography and did not get it get into trouble. This is a serious story. A huge conglomerate he is like the new larry flint with new York Magazine but what is controversial is not only does he offer the pay for porn but by reading to create the hubs like they used to the of porn and steal stuff that is copyrighted from hustler and watch it for free he sells advertising it is extremely controversial in the porn industry like i said it could be part of a part of life but this thing was fascinating and austrias involved. These are not minor players but one company, they came with the 167 million financing. Then the loan was syndicated wear wall street is the publicly traded hedge fund vehicle. It is involved in the enterprises that it is interesting not just because they do porn but it is pirated. U2 has problems. Melissa how secure is the business . Nine u2 there is ftc actions if you take me fox news or fox business to put it on is a good chance you will get a call to take it down. Saturday night live clips are hard to find because it is copyrighted. But with the porn industry the Justice Department do not clamp down on this. There is no enforcement of copyright laws because it is porn. If there is companies could have a problem with those of finance them. Some people at fortress apiece but sold it. It is bouncing around up there. When it comes to the bottom line and wall street would step up to the plate for something so controversial. Not because they are involved with porn. It is the stealing of it. And we should point out i have numerous calls out to the Founding Partners and he ill has no comment. If they syndicated completely or tangentially involved, i am coming back get 3 30 p. M. Lori what are your bookmarks . Mine are pretty lame. [laughter] all debris track how you can look at other people since. We have jeff flock on whisky trail. Looking at the Tobacco Industry, lets kick things off. Drinking on the job by hopeless jack daniels. If i dont make sense i have an excuse. The ground foreman had an incredible run. Show me what is inside. What am i looking at . It is fermenting it in six days that goes into the barrels. Amazing. I wish you could smell this dont get too close you could collapse. It gives off heat it is 10 percent alcohol will get all of these. This is becoming a huge but the high end of the Super Premium bourbon has taken off. Consumers want Higher Quality product with complexity and flavor. That is what we provide. Lets put up the stock. Over the last five years it has taken off because bourbon is it is big again. Did general manager here bourbon you drink you should look into it. Lori it is a guy survive for being with Melissa Frances every day . Melissa that was not necessary. [laughter] drink up. I will try bourbon again it used to give me a headache maybe it was the cheap stuff. Melissa the Tobacco Industry takes a hit with higher taxes and more americans quitting is investing too much to risk . We have robert gray off. Good afternoon. Fewer americans are smoking all the 19 percent are smokers and the price of cigarettes have more than doubled. See may not expect to see that over the past decade decade, the big tobacco producers Philip Morris will morris here in the u. S. And others outdistance the s p 500 when they reinvest the dividends and one statistic to jump out come over the past five decades is a paltry a group take a look returning almost 20 per year. 840,255 thank you to s p four crunching the data. There are a lot of risks involved their steady dividend payers but bell have fairly large debt loads we know about litigation risk and regulation and we will talk about that the next hour with a face is in california. Back to you. Melissa what is business without wings . We have the efforts of expanding the hooters brand spirits this is what a down day looks like. Back at the New York Stock Exchange down 40 points. Lori carnival faces another problem with one of the ships. Melissa dave negative killer that will let you scroll with your eye. Lori lets check the metal as we go to break. My mother made the best toffee in the world. Its delicious so now weve turned her toffee into a business. My goal was to take an idea and make it happen. Im janet long and i formed my Toffee Company through legalzoom. Never really thought i would make money doi what i love. [ robert ] we eated legalzoom to help people start their business and launch their dreams. Go to legalzoom. Com today and make your business dream a reality. At legalzoom. Com we put the law on your side. And his new bossold him two things cook what you love, and save your money. Joe doesnt know it yet, but hell work his way up from busser to waiter to chef bere opening a restaurant specializing in fish and game from the great northwest. Hell start investing early, hell find se good people to help guide him, and hell set money aside from his first day of work to his last, which isnt rocket science. Its just common sense. From td ameritrade. Getting and checked on the new york stocc exchange with Nicole Petallides watching boeings. Looking good today you can see it is up 1. 8 . 86. 17. Looking at the 77 reminder that battery will have no components now trying to get it to fly there conducting test but it could be the next week or the following week they have been grounded since jittery when the battery, fire. Look at the fiveyear charge its an annual high we have not seen from levels of 2008. And i stayed for those hot on boeing. Melissa is the consumer back . Consumer sentiment fell to the lowest level since 2011 but a couple of days ago the 10 sales jumped more than expected that prompted my next guest to raise the forecast in joining me now for j. P. Morgan, you raised the forecast at 2. 3 from one point five. Holcomb . Those retail Sales Numbers are doing better than expected. We started the year with a decent increase but as it turns out consumers kept spending. It is of its of a surprise was stronger spending. Melissa and the number one forecaster is impressive but you changed your forecast with retail sales but what drug Consumer Sentiment . Those numbers all are all over the map will last Consumer Confidence number and their rasmussen numbers are sideways they are all over the map it is hard to say. This morning the referenced government policy concerns for you get a lot of sequester concerns in that number so that may drive the drop we saw. And maybe theyre getting concerned. One of the big concerns is the payroll tax hike 77 american sought taxes go up but then you wonder about to the wealth effect going up after day. Out is that reconcile . Were pretty confident with spending in the First Quarter but we think it is positives of incrementally it is a little more supportive but marmalade the drag from taxes is more. Enough so why did it take the edge discrete steps up . That is hard to figure out. The First Quarter forecast where do we go from there . We have a pullback of second quarter. That is somewhat technical inventory may be built up too rapidly maybe we hit the sequester but over the next year rethink gross gets better above trend eventually. The Housing Market is supported and hopefully the head wind will obeyed as we get down the road. Lori more trouble for carnival. One ship is stuck the other is limping home. Melissa liz climate is sliding california with an estimated 13 billion porn industry. We will go inside the penthouse 3d studio and here is the founder larry flint. Next. Copd makes it hard to breathe, but with advair, im breathing better. So now i can be in the scene. Advair is clinically proven to help significantly improve lung function. Unlike most copd mications, advair contains both an antiinflammatory and a longacting bronchodilator working together to help improve your lung function all day adir wont replace fastacting inhalers for sudden sptoms and should not be used more than twice a day. People with copd taking advair may have a higher chance of pneumonia. Advair may increase your risk of osteoporosis and some eye problems. Tell your doctor if you have a heart condition or high Blood Pressure before taking advair. Youre still having difficulty breathing, ask your doctor if including advair could help improve your lung function. Get your first full prescription free and save on refills at advaircopd. Com. The new pope failed to protect priests who challenged the military dictatorship. Today marked the second anniversary of the syrian revolution. Rebels took to the streets to protest Bashar Alassad back in 2011. Today with the death toll nearing 70,000 and more an than a million refugees, the u. N. Warned that the Syrian Crisis continues to get worse. Those are the news headlines. Back to melissa and lori. Lori rick, thank you so much. S. Not words you shoot with fire, malfunctions and delays. Nearly a month after thousands of passengers stranded on carnival triumph and one day african val dream became stuck in port in st. Marten, carnival legend hobbling home to tampa due to a propulsion problem according to carnival. Passengers expected to enjoy grand cayman, will get 100. Thats rich. Excursion credits and 50 off a future cruise the Pr Department for carnival is working overtime. Oh, my goodness. Is the death of the brickandmortar bookstore killing off the adult magazine business . As we continue our business of vice investing day, liz claman is live at penthouse three destudios in chatsworth, california. Liz . Are you laughing in. Let me tell you something, nobody is laughing here. Weve moved upstairs in this 38,000 square foot in 3d studios in chatsworth, california this is the cave. This is the he had at this time edit woman they edit 17 adult movies every single week. There is Million Dollars worth of equipment in this room. Is not a surprise they are pouring money and capital into the broadcast opportunity content here. As you pan along, you can see here, theyre ingesting 3d, what has been shot as 3d films into 2d so they can promote it for 2d and 3d and comes out in the 3d form as well. It is only 3d studio anywhere. Why are they putting capital in this . The pornography magazine business is money loser. It used to be 80 of the revenues, now less than 5 . Not just at penthouse. Hustler magazine known as the hardcore pornographic magazine is struggling. Larry flynt told me in a fox business exclusive, the founder of hustler magazine. He makes the pretty dramatic prediction that hustler magazine may not exist in the next two years. Where will the revenue come from . Larry flynt says it will come from the sexual toy retail side of it. Listen in. The stores, Retail Stores are fabulous. We have a whole array of items. And it is no longer just a place for people go to shop. Its a destination. A destination . Larry flynt says to my at 3 00 p. M. Eastern in the long form interview you cant miss because it is a fox business exclusive. He wants it to be the saks fifth avenue of adult retail. Okay . So he is says this is where they are making so much money, hundreds of millions of dollars. In fact, he has got a big store in london doing extraordinarily well and boy, what about the casino business . He talks about that and much more. They want to go big in vegas with a hustler casino. You will hear from marine layerry flint, 3 00 p. M. Eastern. Between then and now the male porn star who is the hottest thing. James dean. He is coming up at fox business 2 00 p. M. Exclusive. Lori saving that for two . No, no, no. Melissa liz claman. Thanks so much. Lori well be watching nonetheless. Melissa absolutely. Lori you cant win them all. After eight Straight Days of record closing highs the dow is pushing lower. The new record dow, the new record the dow may break if we close in the red today. Melissa 25 Million People are eligible to purchase medical marijuana legally in the u. S. Were going to introduce you to a man that is profiting by making weed more acceptable. Accessible . Lori stocks now as we do every stiff teen minutes. Back to the floor of the New York Stock Exchange. Nicole petallides, the win streak is not only record youre keeping an eye on the dow today. So much to talk about the Dow Jones Industrials and the market were seeing so far. If the dow closes lower today, friday, it will be the first time the dow is down on a friday, this year, in 2013. Every friday has been a happy one for the bulls. So today may be the first one of 2013 to have a down arrow. Just talking about march alone, this will be the first down day of march. Every single day of march had an up arrow. Something different today. Also dont forget. There will be heavy volume going into the close with the options expiration. Back to you. Lori okay, thank you. Melissa so theres money in the green rush. That is what our next guest is calling the recent expansion of the medical marijuana industry. His company, med box, they sell medical marijuana dispensing machines. Here is med box ceo. Thank you so much for coming on our show. I understand that your company though is looking to expand even, these dispensing machines, go even beyond medical marijuana. Is that the longterm plan . Thats correct. It is the shortterm and the longterm plan. First of all thank you for having me back on. Nice to see you again, melissa. And you have hit the nail right on the head. Our company, medbox, is really a Value Proposition not just in medical marijuana but certainly in Traditional Pharmaceuticals and in health care as well. Our technology specifically provides the ability to basically store inventory control and dispense Prescription Pharmaceuticals and herbs. So we have potential technology for every place in the traditional pharmaceutical and health care worlds, whether it is a Retail Pharmacy or a Doctors Office or a Large Employer or a hospice or a prison system. Melissa yeah. So you, can set up a whole dispensery. You do every sort of consulting beyond the vending machine we saw. If someone tries to set up a dispensery in california or where else it is legal youre able to do that . How much of that business is yours . I say currently half of our business. Chairification. We dont sell vending machines. The technology we have and the medbox equipment is tool for pharmacies and pharmacy staff. It sits behind the counter. For all intent and purposes is the safest way to store inventory control and dispense the medication. Me