Of word of an ftc investigation. Well be all over that. Well come back to it in just a second but first more bad news for pimco cofounder bill gross this week. One of the megafunds own trustees, william pope joy, lashing out at the superstar bond manager calling grosss 200 milliondollar salary, quote, not appropriate and demanding an investigation into grosss conduct as a manager. So is the onetime king of bond overrated . Prepare yourself for todays wall street throwdown. Our very own Charlie Gasparino thinks gross is not worth the money. I bet that is putting it mildly. Capitalist pig. Com Jonathan Hoenig says he is worth every penny. [whistle blows] jonathan you go first because may be only word you get. Go ahead. Im not an investor in pimco, melissa but many, many people are. 2 trillion is entrusted to the firm that bill gross started in the way back in the 1970s. He is mutual fund superstar. There is only one lebron james and lady gawk gaugh. How many Bond Fund Managers are household name . Melissa why does that make him worth a lot of money . Charlie, help me out. He might be worth a lot of money in past years. I will say this. I dont want to give barack obama or eric schneiderman, any ideas about regulating pay. Now they start with the wall street guys and go to the mutual fund managers. You could be smoking pot. You could have needles sticking out of your arm but no rationale person in the world can sit there and tell you that bill gross is worth 200 million this year after the crappy year he has had. It makes no sense. Melissa fund he managed at the worst annual performance since 1994. This is absurd. Think about it this way, if lebron james is nearing the end of his career and he is suck guess what, they dont pay him as much. Melissa jonathan . He will with you know, i cant doubt that he had a bad year last year. He lost less than 2 , charlie. Trailed a lot of bond market averages but talking about a man who won ever considerable accolade in the investment universe. [snoring sound] you. Might make the snoring noise and think he is not worth it but every accolade Investment Fund business. And one from you too. Im just saying that and dollar 50 doesnt get you on the subway anymore. No, charlie but has a lot more than dollar 50. He has 2 trillion, charlie. I have no problem with bill gross making a lot of money. I dont want to see government regulation of this but under no circumstances you can have 40 heroin needles sticking out of your arms and if you think, if you think he deserves 200 million this year, you, put the last, last possible heroin needle in your arm. Well, charlie, youre basically calling everyone who invests in pimco, a drug addict . You made a couple references like that . [both talking at same tile] melissa here comes the whistle. Doing drugs. I dont know. [whistle blows] melissa thank you so much, Charlie Gasparino, won on pure force. Herbalife resuming traders. We have james on the floor of the cme. Looks like it is bouncing a back a little from the low. This is a big deal. Theyre getting a big investigation. Right. This is a big deal. Were seeing the stock rebound a little bit. It is 6 off the lows here. The thing is, anyone who is long the stock this is terrible news. This is not what you want to hear. This is what ackman has been pushing for all along. When we see this investigation begin here it makes us look closer at comments of his announcement they may be breaking laws in china. China is their fastestgrowing market. U. S. Is their biggest market. We dont want to see them being investigated in this either market. Melissa herbalife coming out saying bring it. We are ready for this. We welcome the investigation i think was their official quote. They are basically saying they knew it was coming all along. Im sure they did. They have got david boies. Theyre ready to go. Right, thats a big point here they probably knew this was coming. The statement they released i think that is probably what we expected them to say. I dont think we would hear anything else from them. The other big point, herbalife spend a lot of money lob anything washington ever since ackman broke the announcement that he thinks everybody had a life is herbalife is pyramid scheme he spent 275,000 in washington trying to get this investigation started. Herbalife outspending him 10 to one. They have deeper pockets. Theyre preparing for this. Were not seeing the stock get absolutely crushed. Going into the close i have to keep my eyes glued to the tape on herbalife to see what institutional money is doing. Are options players getting long on the move lower or selling into the move lower. This is going to be key looking, Going Forward. Melissa very telling. Thank you very much. So its a new jersey battle worthy of the sopranos. Billionaire Tesla Ceo Elon musk versus governor chris christie. The garden State Landing a huge blow against tesla by slapping a band on the direct sales model. The electric car company is not taking this one lying down. Tesla saying that christie double boxed them and accusing new jersey stifling innovation. Kelley blue book joins me now and our own jo ling kent is covering the story from new jersey. Jack, let me start with you. What do you think of this move . Well it is interesting. It should come as no surprise that various states have franchise laws and dealers have been operating and industry has been operating this way for a long time. But this is another blow to tesla who is trying to be a big disrupt tore in the industry. Melissa yeah, jo, what is reaction like out there . Well we walked into the tesla store here and there are two tesla stores that will be affected here in new jersey, dozens of employees. There were customers inside buying teslas. I spoke to a man, said he heard about the news last night and rushed in this morning with his family. Put his money down, took it for a test drive. With will happen in new jersey these april 1st will turn into showrooms or galleries. We wont be able to list sticker price. They wont go for test drives. If you look where the money is here melissa. Obviously a lot of lobbying money behind this tesla donated less than 500 million across the country to political efforts for lobbying whereas multiple Interest Groups donated more than 100 million across the country to state legislative races so this is clear where the money is definitely has an impact and in this particular situation. Melissa you always want to follow the money in these situations. I have spoken to elon musk about this directly in the past. He said look, car dealers are my enemy. Theyre pushing gasguzzlers. They are not a friend of tesla. Put tesla to other cars they wilbury my car. They dont understand my car. It is not same thing. Im selling technology. Im not selling doesnt sauer they are. Its a compelling argument. You dont buy it . Well there is something to the argument. There is something argument dealers add value. That is the way business is done. Melissa like what . They add, invest, 3 to 5 million in facilities. They do retail advertising across the board in their local markets. They service the customer. Theyre a point in distribution. Theres a lost value to the dealership experience. Melissa them being able to take the car back and service it. Would you be satisfied if musk had a Service Center right next door . Would that do dot trick, jack . I think there is lot of things going on here. Certainly there is the political connections that dealers have. You have to look back how the dealership developed. In old days, the dealer was single point and depend absolutely on manufacturer, that manufacturer could w crush the dealer and withdraw the franchise. The tables have turn ad bit. There are big dealer groups almost as power phil as manufacturers. Melissa they are absolutely. They really control their local market. We have got to go. Thanks to both of you. Up next president obamas big new push for overtime pay for workers. We have a panel fired up for todays money talker. Mystery deepens over the lost Malaysian Airlines flight. It could bring changes to the whole industry. More money coming up. Its a growing trend in business do more with less with ss energy. Hp is help. Soon, the worlds most intelligent servers, designed by hp, will give ups over twice the performance, using forty percent less energy. Multiply that across over a thousand locations, and theyll provide the same benefit to the environment as over 60,000 trees. Thats a trend we can all get behind. Iwe dont back down. We only know one direction up so were up early. Up late. Thinking up gamechanging ideas, like this dozens of tax free zones across new york state. Move here. Expand here. Or start a new business here. And pay no taxes for 10 years. With new jobs, new opportunities and a new tax free plan. Theres only one way for your business to go. Up. Find out if your business can qualify at startupny. Com melissa lets look at shares of mastercard today moving to the plus side. Reporting that the spending pulse report showing retail sales grew 2. 7 in february. That is the weakest growth report since march of last year. Look at that. President obama making more wave notice wage rage debate. He is aiming to expand overtime pay to include more workers. Who will it cost more . That is todays money talker. James freeman from the wall street journal, and Sarah Quinlan the duchess of doom. I love the thunderclap. Welcome to both of you. Looking to expand the number of workers who get overtime saying there was a cap over 500. Now it is going up to 1,000. Five million more workers will get overtime. Money comes from somewhere. It doesnt grow on money tree. Where do you think it comes from . Comes from business and or gets reallocated. I think fewer jobs is a result. Employees are more expensive. Sarah, do you agree with that . Not necessarily. There is Pricing Power in the economy in certain areas and look at demand in spending pulse we see a lot of demand for restaurants. The number one category in february was lodging. People stayed in hotels and people went on vacation. You actually can price it into the actual price. Melissa i was at mcdonalds, it was owned by Franchise Owner, if you pay more workers where will the money comfort. I have two restaurants on either side of me. I cant raises or hire few people or not open the next door. He is Small Business owner, do you think he was lying . No, i dont think he was lying but challenge you to say that category what we call Quick Service restaurants has been challenged all year. Only grew one to 2 . Where category above it where people wanted to be, grew 11 yearoveryear. Melissa mcdonalds forced to may more over time that where we see jobs cut. Those are people that need money the most. Possibly. Tough meet the demand. That is supply and demand. Basic economics. So from that perspective, if people want to go to fast casual restaurants or nicer restaurant or single restaurant that where they will spend their money. Melissa if people lose their job, that means less money spent. If we think economy is better because of mastercards data thats great. We still have the slow growth recovery. The premise of this, if there was economic theory that labor markets dont work. The government should take greater role in setting prices but i dont think it is that deep. I think this is purely political. They look at the minimum wage fight which is polling very well. I expect this will poll similarly well. It is a beautiful idea, if the government could just kind of wave a wand and make us all better paid but there is cost. Melissa you made a good point before. There is two frame of minds. There is the Silicon Valley frame of mind where all workers have share of pie. They think of themselves as ceo. They have a stake in the company. Everybody is rowing the same direction. When you send out these messages about minimum wage and overtime, youre pitting worker against boss. Its a organized labor frame of mind. The hourly worker frame of mind, that is not a model that worked for us very well in this country. I also feel for the worker who wants to separate themselves from the pack, to show they will work harder, put in the extra time, do the extra work, rise in the economic ladder. Now that ambitious worker represents a new cost for the employer. Melissa thats a good point. Then again you could look at the fact that for example, the plant did not decide to unionize down in chattanooga, tennessee, the volkswagen plant. Think about it, we sold 15. 6 million cars, showing major demand. One of the things we see in the spending auto repairs are negative. When auto repairs are negative, negative correlation to auto sales. I expect more demand there. 72 of the cars we sold last year were made in america. Melissa car industry is doing better and workers dont want to unionize . Theyre comfortable with how theyre getting compensated right now. Melissa thanks to both of you. Appreciate your time. Good debate. New twist in the mysterious disappearance match haitian flight 370. Reports from the malaysian military indicating that the plane may have diverted before vanishing just days ago. Search teams are widening the search as a result. Former faa official Scott Brenner joins me now on the phone. What do you think of these reports, that it may have turned around . Melissa, who knows. Every day were getting conflicting information from the malaysian authorities. We had basic contact this aircraft until a certain point where everything just shut down. And again this is incredibly safe aircraft. Relatively new aircraft. So for all that information, all those systems to be shut down and there not to be a gigantic debris field in that ocean below there, something has done something to that aircraft. Melissa what do you mean something has done something to that aircraft. Somebody purposely turned off all the Communications Devices that allow air Traffic Controllers to identify that aircrafts location and what type of aircraft that is. Melissa so you think it has been hijacked . Somebody has taken, either a pilot or somebody has gained access to that cockpit and flew it another direction. Melissa so, i mean youre kind of giving hope to anyone who is watching and hoping that it has a Family Member or relative on board. Do you think those folks could still be alive after all this time . I would be surprised but again we dont know what happened. The malaysian folks tell us they have a radar track that shows that aircraft may have turned around. Melissa yeah. Well, we need to get some folks who actually know what that radar track shows because clearly those folks in malaysia do not understand what they have. Melissa no. That is the biggest criticism so far that youre hearing all over the place, it is malaysian authorities who are really confusing this issue and making it tougher. Do you agree with that. No, absolutely. When they say they have a radar track may show them turning around. You have a radar track. It either shows them turning around or it does not show them turning around. We need folks in there that can identify what is on the radar track so we can tell the search and rescue folks, here is the area you need to look at than basically that part of the globe. Melissa that is compelling. The scott, thank you for coming on. We have breaking news. Nicole petallides on floor of new york stock exchange. Were right here, melissa. The crowd is trading right behind me. You can see it forming there. It was halt ad short time ago. Shares were down half a percent. News pending so were waiting to hear what the news may be on this one. They have been working on a pneumonia vaccine. Im sure it is something bigger than that. The stock didnt move dramatically. Move of less than half a percent but now halted. I will get right back in the crowd, melissa and try to find out more. Obviously a day of halts. We had herbalife, nu skin and now pfizer. Busy day here at new york stock exchange. Melissa nicole, come back when you know more. Thank you so much. Coming up Carnival Cruise passengers suing for annual lifetime payment from the cruise line. Could one terrible trip warrant money for every trip forever . Were talking with dr. Manny. Would spilling crude abroad help selling crude abroad help or hurt the economy . You can never have too much money. vo you are a business pro. Seeker of the sublime. You can separate runway diculousness. From fashionhat flies off the shelves. And you. Rent from national. Because only national lets you choose any car in the aisle. And go. And only national isanked highest in car rental Customer Satisfaction by j. D. Power. natalie ooooh, i like your style. vo so do we, business pro. So do we. Go national. Go like pro. Sometimes they just drop in. Always obvious. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. Melissa oh ship. Passengers from the infamous Carnival Cruise now suing the company for a lifetime payout of 5,000dollars every year, forever does anyone who go on a crews possibly deserve that kind of cash . Break it down with fox news medical ateams dr. Manny and fox news legal eagle, lis wiehl. Do they have a prayer on this. No. Melissa really . Refer to dr. Manny on treatment, but legally no. First of all they signed a waiver when melissa you cant sign away your rights . To gross, gross negligence. What, cardinal is saying, negligence on its face because of what happened. It was horrible. The conditions were horrible. They will get doctors bills paid, that kind of thing a little bit but no punitive damages. I would say if i was arguing for carnival this amounts to punitive damages where youre trying to hurt the company. Melissa dr. Manny, im going on cruise late they are summer. Im dreading it. Why are you doing that . Melissa im being kind of force to go but whole another topic. Is there anything that could happen on this cruise, bless teal me no, that could be so bad thaw deserve compensation for life . Can you be that scared . Medical negligence, which i guess would be offset of that happens every day, talking about a product that can give you sick sick, get you sick. At end of the day, these people, it was horrible conditions. Some got bladder infections. Sob god diarrhea. Somebody suing because they ended up with hemorrhoids but i get the idea. Me