Transcripts For FBC MONEY With Melissa Francis 20131002 : vi

FBC MONEY With Melissa Francis October 2, 2013

Day two of the Government Shutdown. The president is set to meet with bipartisan congressional leaders shortly. Well bring you the latest on that just as soon as it happens. We feel for the 800,000 furloughed federal workers. I cant help though to go back what ive been saying. If there are that many people deemed nonsessional, maybe we dont need such a Big Government . We are, after all, 17 trillion in the hole. Here to weigh in, are two absolutely essential people, James Freeman from the wall street journal we also have fox newss james rosen. Great to have you both with us. You have the same name. I will be like a school teacher, call you by your whole name. James freeman, let me start with you. Yes. Melissa this is like a joke and a storm is going on, all nonessential workers dont come in tomorrow. You have toking a big dummy to raise your hand, to not essential, i will stay home. If youre not essential, i dont know, doesnt the boss look at their spreadsheet and say why are they still there . Melissa right. Sort of reminded of the old reagan joke. He was giveing a foreign dignitary a tour of the white house ground and the guy saw the big Old Executive Office building. He said wow, that is a buying place. How many people work in there . Reagan, said, maybe half of them. You really do wonder, if people, if, even if theyre deemed essential, more than two million federal workers, civilian workforce, not the military really essential . Probably not. Melissa james rosen, 93 of epa workers are nonessential. Who are these people . Who is not essential . Well, i dont want to give any names, melissa, but melissa i think you might have photos and mug shots. This guy is not essential at the epa. Because james and i have the same name i will match historical joke anecdote with one of my own. Melissa okay. The story told of president Lyndon Johnson walking with a young aid past some helicopters and the young aide, said to johnson, mr. President , which one is yours . Theyre all mine, boy. That doesnt mean the president will use every helicopter at the same time he still had more than one. If some helicopters sit on the ground for some time, they might be deemed nonessential. The point is all sports teams have benches. Just because someone isnt related directly to the life and property, that is the Legal Standard who gets to stay on the job, doesnt mean theyre not performing a useful function for the taxpayer. All right. Thats a good argument. James freeman, when you look through the numbers, some departments though some more essential than others. The epa, 93 furloughed. Only superfund project managers are at work. Commerce department, 87 is at home. Only 87 at commerce . Interior, 81 . Treasury, 80. Look at Something Like justice. 15 are at home. So. That makes sense. Justice would be one of those constitutional duties that the government has. Commerce, not so much. Epa, not so much. But i think this does represent a danger for the president because, weve talked about all of the danger for republicans. Melissa right. You shut down the government, shut down the Government People melissa things life goes on. Melissa people are not inconvenienced except you cant see a national monument. It is not summertime anyway. If it is going to happen, you worry if youre obama, would i think. People going a week and not really noticing a problem, that, 800,000 federal workers are staying home. Melissa that it argues for a Smaller Government. James rosen, so the president is set to meet with the leadership, the congressional leadership during this hour. What do you think will come out of this . Anything . Not as much as any concerned taxpayer would actually hope what would come out of it is the sad answer, melissa. Even some liberals are disappointed with president obama in the current context, they expected him a leadership style they might associate with a liberal hero like lbj. That is to say. Well get all four leaders in the oval office. Were ordering food and locking the door. Youre not leaving this room until a deal is done. That is not this president s style. The signature law somehow at the center of all this, the Health Care Overhaul more the case president outlined broad vague principles and said bring me something i could sign. Some call that leading from behind. Some say its a wise strategy. Certainly i dont think well see a deal emerge from the Leadership Meeting at the white house at 5 30. Melissa it makes me think he thinks the shutdown is to his benefit in some way . Dont awe guy with that. That is his calculation. Melissa if he wanted it to end, like james rosen said, everyone get over here and close the door and well work this out. He doesnt negotiate. He doesnt negotiate. His administration referred to his republican opponents as essentially as terrorists. You cant give in to them now. You plight have to negotiate something later. In fact this is what government does. This is what the three branches are, the house, the senate and senate are supposed to do. They come to an agreement but he doesnt believe in that. Melissa go ahead. If i can venture just one point here you know from president obamas point much view and from the Senate Democrats point of view, look, they did manage albeit on a very tight partyline vote to get this law passed through the congress. It was signed. It was litigated at the Supreme Court and it was upheld and then the president was reelected. From their point of view should president obama put himself in position of negotiating with House Republicans on some new plank of obamacare every time there is routine funding measure. You call it a routine funding measure, they can call it that. I understand you were laying out their position but you need a new law to fund the government. And every year they debate this law. Politicians decide what should be funded and what shouldnt. How this is suddenly become nonnegativable is fact of president ial positioning and media help when republicans shutting down the government when they fund thing and not another. Melissa Smaller Government looking pretty tempting with all the people at home. Appreciate your time. A lot of fund james is. Up next on money, is bill gates getting pushed out of microsoft . Some of the companys top investors want him to go. Why . It all the word on wall street. We have the inside scoop. Plus, fresh off her meeting with the iranian president and officials in egypt, wow, she is busy kt mcfarland is back on what price we should pay for peace in the middle east. More nonany coming up. More money. Coming up. [ engine revs, tires squeal ] [ male announcer ] since we began, mercedesbenz has pioneered many breakthroughs. Breakthroughs in design. Breakthroughs in safety. In engineering. And technology. And w our latest creation breaks one more barrier. Introducing the cla. Starting at 29,900. How old is the oldest person youve known . We gave people a sticker and had them show us. We learned a lot of us have known someone whos lived well into their 90s. And thats a great thing. But even though were living longer, one thing that hasnt changed much is the official retirement age. The question is how do you make sure you have the money you need to enjoy all of these years. Melissa the whisper, rumors, behind the scenes gossip, we have it all here on money. The big business story today is all about bill gates. The billionaire is under pressure from three of microsofts largest investors step down from the company he founded nearly 40 years ago. It is all the word on wall street. Here with the latest details is the wall street journals paul vina and our very own dennis kneale. Paul, i will start with you. Yeah. Melissa who is behind this . Is this a bunch people . This is large shareholders combined has 5 of the stock which is big. That is more than bill gates has. Bill gates has 4. 5 of the stock. He is largest individual share holder. He used to have a lot more. He used to own a lot more. He has been selling 80 million shares a year. Eventually over next five some odd years he will sell the entire stake and retire to the hills outside of seattle. But i mean, look, how realistic is this . That is a real question, how realistic is this . Melissa before we get to that, why do they want him out . That is the big question. Dennis what do you think, why do they want him out . Reuters says, three institutional shareholders among the top 20 refuse to be named in the reuters story. If were going to go ahead and say were going to out of melissa they must know who it is. Reuters does. Theyre unwilling to be identified. These guys are arguing gates as chairman will intimidate any new ceo who comes who wants to make drastic changes to theto the company. If you bring in a ceo and too timid to challenge bill gates, maybe that ceo candidate is not right for the job. Maybe he ought to stand up to the chairman rather than loose the asset entirely. Melissa is that the reason they want him out . That reason is compelling. When you have the founder, hanging around, breathing over the shoulder of a new ceo it is hard to be the real ceo of a company. Is that the reason they want him out . I think youre right, dennis that is part of it. Look, do you kick bear bryant out of alabama . Of course you dont. You dont let him go. Apple got rid of steve jobs at one point. Was that the right thing to do . Not really. The question isnt bill gates. The question is what has microsoft done over the past decade. That is what it really comes down to. Melissa okay. It is still a wildly profitable company, lets not kid ourselves. This stock is dead for a decade. If youre an investor you really gone nowhere since the dotcom bubble. Melissa does getting rid of bill gates solve that problem . It really doesnt. What microsoft suffers from the past, since 2000 when ballmer became ceo, great a making trains run and protecting 20 billiondollar a year profit in windows and apps but he is not good at tech vision. Bill gates is the tech visionary. They missed out on ipad, ipod, iphone. Wireless Network Revolution and missed out on all of that. They need a visionary out in front of that. The question is, has bill gates lost his fastball . Is he too old . I dont think he is. Melissa what you do i in. The question does he have the interest. Melissa that is the other big point people want him out. He is very much focused on charity. He is involved daytoday and will not be involved daytoday. Real thing shareholders should look at is the ceo. Ballmer, the new ceo. Steve ballmer was not a very good ceo and the Company Really went nowhere under his watch. They should focus on, bill gates is not going anywhere. They should focus on the next ceo. Melissa do you get a better next ceo with or without bill gates there, dennis. A better ceo, a better ceo with or without bill gates . Melissa yeah. You know what . If you have a guy so weak afraid to stand up to bill gates how could that be a better ceo . As much as people malign Steve Ballmer protect ad defacto monopoly that didnt lose share. They still have 95 share in pcs and laptops. The technology moved past them. He didnt catch up with them. Protect ad incredible Profit Center that remains at the company and he doesnt get enough credit for that. Melissa paul, isnt likely bill gates on board understands the vision. That it is likely he was hyped getting ballmer to leave . There are whispers that you ballmer was asked to go to make that happen. Maybe he sees the writing on the wall and helping it along . A lot of people believe Steve Ballmer lasted as long as he did because he had backing of bill gates. Gates probably had some involvement. He is selling his shares. He will eventually retire. Next ceo you have to hope this guy will last five years, seven years. So this ceo selection is really, youre looking to set yourself up for the postbill gates era. One reason. Melissa thats a great point. Dennis, last point. One reason to ask bill gates to leave so a guy could come in and utterly alter and change the company. Break it up if necessary. When youre the founder of microsoft you never want in to bring the next steve jobs to up stage you. You bring in manager like ballmer or elop from nokia theyre buying because they will never make you lookout dated. They will never best you. Maybe you get rid of gates and bring in any superstar you want. Melissa that is a good point. Guys, thanks so much. Great discussion. Coming up on money, the real price the u. S. Should pay to keep nukes out of iran. Our National Security expert kt mcfarland just met with president rouhani. She is here to reveal what was said. Plus, Rising College costs and the worst economy since the great depression. What us it all mean for your kids . Not good. We have astounding stats that will anger 20 somethings everywhere. They dont look furious. They look like theyre relaxing. Do you ever have too much money . So ally bank really has no hidden fees on savings accounts . No hidden fees. Its just that im worried about you know hidden things. Ok, whys that . Well uhhh. Hey daddy, whats your job . Daddys a uhh florist. Are u really a florist . Dad, why are there shovels in the trunk . Theres no shovels in my trunk. I seshovels. You dont see no shovels. Just am. Well, its true. At ally there are no hidden fees. Not one. Ats nice. No hidden fees, no worries. Ally bank. Your money needs an ally. [ male announcer ] help brazil reduce its overall reliance on foreign imports with the launch of the countrys largest petrochemical operation. When emerson takes up the challenge, its never been done before simply bemes consider it solved. Emerson. Melissa Benjamin Netanyahu yelling from the rooftops about irans president and its Nuclear Program seems to be falling on deaf ears though. Irans parliament gave overwhelming support today to president rouhani and his push for a Nuclear Peace deal with the u. S. But is it part after con to get sanctions dropped and surprise the world with a nuclear bomb . Who better to ask than fox newss National Security analyst kt mcfarland. She and other members of the council on Foreign Relations sat down with rouhani a few days ago. Right. Melissa what is he like in person . He looks like an Old Testament prophet. A turbine and beard and long flowing robes. Sounds like a academic. Very peaceful and talk as good game about peace and quiet and reasonable. This is in stark contrast to his predecessor who was sort of wild and crazy. Melissa right. The thing is nothing has changed with the actual facts on the ground. What rouhani said he has a mandate from the people to improve economic relations with the united states. That is code for drop the sanctions. The other thing he said, iran has the right to master the fuel cycle. Now that is code for saying were not stopping our Nuclear Program. He said that . He didnt say our Nuclear Weapons program. He said we would continue our Nuclear Program. We have the right to do it. I think the conclusion i drew from all that iran is getting the bomb, but, they will not necessarily have it on the shelf. They might get to the point where they have all the ingredients on the shelf theyre three months, six months, away from having Nuclear Weapons but they might stop short of that but that is the deal they want. Melissa there is Twitter Exchange between the founder of twitter, Hassan Rouhani has been very active on twitter. You never really know who is tweeting for these people when theyre on. Right. Melissa dorothy says, good evening, president , are citizens of iran able to read your tweets . Rouhani says, evening jack. My efforts are geared to insure my people comfortably be able to access all info globally as is their right a. That is a rorschach. You could interpret that any way, my efforts are geared to insure if people are able to i mean is this kind of the overall sense you got from him . He is saying these things in code. Yeah. Melissa i mean what he wants but could mean what you want. If youre listening the right way. Exactly. It is all in the interpretation. The other thing fascinating. Were all sitting around. This is the elites. This is the council on Foreign Relations. At the 11th hour, 10 minutes to the end the foreign min sister comes in. The iranian for minute foreign minister says im fresh from my meeting with secretary of state kerry and were going to fast track negotiations. Melissa that was your other whirlwind experience, you were over in egypt. What do you see there . I was with a small delegation and we met with the leaders of every aspect of egyptian society, business leaders, student activists we met a coptic christian pope, we met with religious leaders with from the sunni mosques and general asisi for two hours. The impression i got away was a couple things. Egyptian people. This is not a military coup. This is a third of population, half of the voting population went peacefully to the streets to demand the ouster of their president. That is like over 100 million americans. The other innings r thing is they had no way of getting rid of him. Morsi and the Muslim Brotherhood written a constitution and made sure there was no way of impeaching him. He was in as long for as he wanted to be in. The other thing i thought was interesting, especially talking to the religious leaders they equate the Muslim Brotherhood, not as another Political Party like the democrats or republicans. They say that is al qaeda. They set up shop in the sinai peninsula. They were on their way to establishing islamist state in egypt. Melissa bottom money line on all of this, 1. 6 billion in u. S. Aid to egypt in 30 they are, money wellspent . Yeah. Melissa really . Because if egypt falls and i think egyp

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