Stuart the Financial Times headline, u. S. Slips into reverse. The economy is shrinking. The word recession is on the table. We have the worst socalled recovery in generations. Our debt goes up by a trillion a year. The white house says the republicans are to blame, spending cuts are to blame. Super storm sandy is to blame. Excuses. The numbers are what they are. The economy is sinking. President obamas policies seem to be failing. His Approval Rating is at a three year high. Arnie and company about to begin. Aving triplets. [ babies crying ] surprise your house was built on an ancient burial ground. [ ghosts moaning ] surprise your car needs a new transmission. [ coyote howls ] how about no more surprises . Now you can get all the online Trading Tools you need without any surprise fees. Its not rocket science. Its just common sense. From td ameritrade. Its just common sense. All stations come over to mithis is for real this time. Step seven point two one two. Rify and lock. Command is locked. Five seconds. Three, two, one. Standing by for capture. The most Innovative Software on the planet. Dragon is captured. Is connecting todays leading companies to places beyond it. Siemens. Answers. Stuart illinois is going broke. Good morning, Varney Company viewers. Illinois halted a bit borrowing operation just one week after being downgraded by s p. Lenders are demanding a heavy price before they lend them any money. Hellenic canceled its plan to raise 500 billion. It would cost the state too much interest to borrow the money. Illinois has the most underfunded state Pension System in the nation. Billions of dollars in unpaid bills and it states on. We will have much more on this story in our next hour with chicagos own cara roth. The leadership is now saying that many of the requirements of obamacare will drive up the cost of Health Insurance for union members. Some of those leaders are asking for government subsidies. Kind of reminds me of this. We have to pass the bill so that you can find out what is in it away from the fog of the controversy. Stuart we are very sorry, we just cannot help ourselves. Charles payne and the judge way weigh in on that ahead. Profits way down because facebook is spending a lot of revenue to expand. No coal, is below 30 . Nicole back below that psychological level. Not a good day for facebook. Stuart that is one of the stocks that ran up right before the announcement and then ran down again. And then we have blackberry. Investors not impressed. I can hear her saying it is painful. Look at how the shares reacted to the news. Initial problem that investors had, you cannot buy it until march. We will see where that stock actually opens in just a couple of minutes. The economy shrinking the president claims anyone and everyone. What does donald trump say all about that . He weighs in right after the opening bell. I will beg him to say yes, please, buy it. He is next twins. I didnt see them coming. I have obligations. Cute obligations, but obligations. I need to rethink the core of my portfolio. What i really need is sleep. Introducing the ishares core, Building Blocks for the heart of your portfolio. Find out why 9 out of 10 large professional investors choose ishares for their etfs. Ishares by blackrock. Call 1800ishares for a prospectus which includes investment objectives, risks, charges and expenses. Read and consider it carefully before investing. Risk includes possible loss of principal. Stuart thursday morning. The market opens with the dow about 250 points away from the alltime high. Jobless benefit claims last week had a very high number. At that onto the contraction of what we heard yesterday morning. They will keep on printing money. The opening of the stock market should be a very small game. We are up one point in the very early owing. The uptrend is ever so slightly higher. Gas prices. Apparently, they affect you every day. Stuart gas prices are going up. They are up 0. 10 since last week. Overnight, the price went up again. Why are gas prices moving higher because the price of oil is up at 97 per barrel. It it 98 yesterday. We talked about big pension liabilities. Now pensions are crossing a major city, ups. We use them as a Major Economic indicator. They would have made to billion dollars profit if not for the pension liability. They actually made a lot. Nicole not good news here. You talk about the pension liabilities. That is a very big factor. Another thing is that the ceo has come out and talked about all of the chaos that goes on in washington. Fiscal uncertainty. Even now, we remain in a cycle of mixed signals. Stuart that is interesting. That company is now addressing two of our big stories. Look, we are in Economic Indicator and washington will not get out of our way. I think that is what they are saying. Nicole it is unclear. Stuart give me the stock price for ups. Nicole it was down. We should look at fedex at some point also. Stuart they do not have the same pension liability. Ups loses 1. 75 billion in the Fourth Quarter because of pension liability. That is absolutely huge. Thank you. I have two more big names that you know. They have started trading. Shares of blackberry after the big announcement yesterday. Look at facebook. Making more month. There are still concerns about how the Company Wants to spend that money that they have coming in. They spoke opening well below 28. 97. Not quite to google that they were supposed to be. A big name that you know and you probably use, mastercard. Nicole higher profit, higher revenue, higher stock. It is a very simple recipe today stuart i remember back in the day, what we first went on the air, that stock was down 130 if i was not mistaking. You are on a series of winners this morning. Keep it going. Big news on the economy. It is shrinking. The first time we have seen that since 2009. Are we headed into another recession to mark joining us now is donald trump. Usually people require big lengthy introductions. Welcome to the program. Thank you, stuart. Stuart are we headed for a recession . I do not know. I bought a lot of facebook at 16. At 40 it was not looking so good. I am not much of a stock picker. I do not do it for a living. It just sounded like a good bargain. That is an indication of what is going on in the world. I sell the numbers from yesterday where we are going down. That is not a good number. We can grow out of all of this if we had an economy that was really churning. Yesterdays number was terrell. Stuart jay carney came out and basically blamed the republicans. It was a series of excuses. You have to do it from the private sector. If you are not going to do it that way, but, it is very tough when china is taking our business, all of these other countries are just laughing at us and taking our business. They say that is booming again. Well, of course they are booming. We bought all of their products. When i build a building, i go out and place it in i buy chinese products because they manipulate the hell out of their currency. Stuart i do not understand why president obama does not take a firmer stand against china. I think it would be politically popular, but he does not do it. Why he does not allow us to drill, why he doesnt allow us to grab all of that energy. Also, why he does not a stance against china. I have a great relationship with china. What are the chinese want . Any job. You would not believe that, but maybe they respect me. Anything trump. China does not respect us. They do not respect our leaders. I am amazed that obama does not allow us to go and get our energies so we can get rid of opec for a change. The greatest abuser of all is opec. The other is why they do not do something about china. Stuart china has the money and we want to borrow that money. If we turn things around, we do not have to arrow the money. We would be a great country again. We are headed in the wrong direction. It is interesting that in 2016 that they say, which will be interesting china will supersede us as a great power a great economic power. If somebody said this ten years ago, it was unthinkable. That is a pretty sad fact. Stuart we had another report out last week that said you were looking to buy the new york times. I am hoping that is true. I think a lot of people are hoping it is true. I have looked at it. Their numbers are tremendously bad. They sold their quarters building for, i think, 175 billion. The guy who bought it flipped it a short time later for 500 million. They bought the boston globe for a billion to and it turned out it took 600 billion to sell it. Stuart is it true . Are you looking at it to bought it. They have the class a class b stock which makes it very tough. Stuart a lot of us are just praying that mr. Krugman reports to you. That would be very interesting. That would be a lot of fun. Stuart i pray that the day comes soon. Donald trump. What a pleasure. Thank you. We also have this story involving the new york times. For the last four months, it has been attacked by chinese hackers. Last october, the times published an article about the wealth of the family of chinas private minister. The paper has managed to expel the repel them, i should say and can help them from breaking back in. Correct they should apply in this got him a flight to space and then they penetrate the atmosphere. They are everywhere. To make those commercials. Lets get straight to it. Three stores that will simply make you scratch your head. First, a group of 150 Celebrity Chefs sent a letter to new York Governor Andrew Cuomo urging him to plan backing. Why are chefs getting involved in the fracking debate. We will ask one of them. Number two, a shooting in president obamas hometown. The victim, a teenager who performed at his inauguration last week. Where is the president on this story . And third, antigay remarks. The pr machine it cranked up. The response, his comments were misinterpreted it. What . We have the story. What do you think. Send your emails. Here we go with seven early movers. It is thursday morning. Better than expected profits. Supporting outlook for the data storage provider, that would be huge and i owe. Profit is up on qualcomm. What questions say that again. In this online invisiline braces. More money than expected coming in at las vegas sands. That stock is nicely higher. Sky Work Solutions gave an upbeat outlook. Not bad, everybody. Lets look at the dow for a second. We are down 13 points. We are just below 13, 900. We want to know how the blackberry ten will go over when it finally goes on sale. Will corporate customers stay with blackberry push mark we dont know, but we have a guy who knows next. Actly how they want. With scottrades online banking, i get one view of my bank and brokerage accounts with one login. To easily move my money when i need to. Plus, when i call my local scottrade office, i can talk to someone who knows how i trade. Because i dont trade like everim with scottrade. Me. announcer scottrade. Awarded fivestars from smartmoney magazine. Have given way to sleeping. Tossing and turning where sleepless nights yield to restful sleep. And lunesta® eszopiclone can help you get there. Like it has for so many people before. When taking lunesta, dont drive or operate machinery until you feel fully awake. Walking, eating, driving, or engaging in other activities while asleep, without remembering it the next day, have been reported. Lunesta should not be taken together with alcohol. Abnormal behaviors may include aggressiveness, agitation, hallucinations, or confusion. In depressed patients, worsening of depression, including risk of suicide, may occur. Alcohol may increase these risks. Allergic reactions such as tongue or throat swelling occur rarely and may be fatal. Side effects may include unpleasant taste, headache, dizziness, and morning drowsiness. Ask your doctor if lunesta is right for you. Then find out how to get lunesta for as low as fifteen dollars at lunesta. Com. Theres a land of restful sleep. We can help you go there on the wings of lunesta. Omnipotent of opportunity. You know how to mix business. With business. And you. Rent from national. Because only national lets you choose any car in the aisle. And go. You can even take a fullsize or above. And still pay the midsize price. I could get used to this. [ male announcer ] yes, you could business pro. Yes, you could. Go national. Go like a pro. Stuart oh, dear. Look at blackberry today. Down another 6 . Before they release the new blackberry ten, i think blackberry was around 18 a share. Now it is 12. 86. We have the Senior Research analyst here. Welcome to new york. Good to see you. Can blackberry, with this blackberry ten, hold on to and expand its corporate customers . To hold onto, yes. This is the kind of experience that customers have been waiting for. Devices get old quickly. Technology moves really fast. Here comes blackberry was something now to get the current enterprise users something they can really use. Stuart better than the old one . Absolutely. Stuart how about young people who like the iphone. The smart phone users of this world. Though google, the android phones, the microsoft phones, for heaven sake. Can the blackberry ten compete with those smart phones. I think it will be on their consideration less. Blackberry has to bring it. Stuart i know that is what they have you do. Can they do it without phone. You make a judgment. I think they can do it, but it will take some time. Stuart i am told there are bugs. They have to work out these bugs in february and deliver the phones actually in march. That is plenty of fine. Bugs are nothing new to smart phones. Apple maps. That was not just a bug. That was a pure disaster for apple. Some of the bugs that i am hearing, these can be done over the air very quickly. In time you have a new platform and a new device. The two months they have ahead of them, i am confident that they can get it done. We were billed up to the blackberry ten. It was do or die. They have to have a real revolution and it has to be good. Is it a real revolution for blackberry . I think it is a big huge turning point for blackberry. Stuart if i asked you, would you buy the thing at 12 a share, you will not answer me, will you . I am on the tech side. Stuart two years ago, you told me this, i do not actually remember it, but you told me that i said to you that nobody will want a blackberry touchscreen because we want keyboard because that is what i like. You can have that keyboard. They have a version for that also. Stuart that is the touchscreen. Look at how much content. Look at the emails, you can read the whole thing instead of having to scroll down again and again. Stuart you think i am going to change . You love your keyboard. I know that. Stuart and the guy that keyboard with his thumbs and walks into lampposts. [ laughter ] stuart bottom line, this will be a hit. It will take time, but you like it. We appreciate you being with us. Thank you very much, sir. Where are we this morning . We are down 14 as of right now. Listen carefully to this. San francisco 49ers makes homophobic comments. The pr machine now working overtime on that. It is stories like this that keep Public Relations firms in business. Charles payne is with us. He has opinions coming up next. Stuart it is a pr nightmare for the San Francisco 49ers. One of the players said he would not accept a gay teammate. We do not have any gay guys on the team. They have to get up out of here if they do. Cannot be with that sweet stuff. He was quick to backtrack and he said this. The derogatory comments i made yesterday were a reflection of my thoughts in my head, but they are not how i thought. Then we have the official pr response his intent was not that at all. He is one who celebrates the differences of others. All of this was a big mistake. It was interpreted wrong. They really give the pr industry a whole lot of business. It seems to be that pr is damage control around absolutely everybody who is out there that says anything. Charles if you are in the public light, you have to be correct. You cannot stray from that to matter how you feel. I am sure what he said is probably how he felt, how he grew up, but in this world, it is the tightest change. He is not savvy. He spent the last, you know, his whole life learning how to play football, not deal with Public Relations. If you say what you think on occasion you require a pr person to make it right with the public. Charles if you hurt the feelings of a lot of people. Stuart thank you, charles. Illinois broke. Cannot even afford to borrow money to pay its bills. Plus, more unintended consequences of obamacare. Unions that were for the law and complaining it is driving up costs for its members. Another reason for us to play this. We have to pass the bill so you can find out what is in it, away from the fog of the controversy. All stations come over to mission a for a final go. This is for real this time. Step seven point two one two. Rify and lock. Command is locked. Five seconds. Three, two, one. Standing by for capture. The most Innovative Software on the planet. Dragon is captured. Is connecting todays leading companies to places beyond it. Siemens. Answers. You know how painful heartburn can be. For fast, long lasting relief, use doctor recommended gaviscon®. Only gaviscon® forms a protective barrier that helps block stomach acid from splashing up relieving the pain quickly. Try fast, long lasting gaviscon®. But we can still help you see your big picture. With the fidelity guided portfolio summary, you choose which accounts to track and use fidelitys analytics to spot trends, gain insights, and figure out what you want to do next. All in one place. Im Meredith Stoddard and i helped create the fidelity guided portfolio summary. Its one more innovative reason serious investors are choosing fidelity. Now get 200 free trades when you open an account. Stuart illinoiss in crisis. It tried to borrow 500 Million Dollars. It had to cancel. Heres the story, illinoiss broke. It owes businesses in the state 9 billion dollars. It owes its state worker retirees, 96 billion dollars. It cannot pay. It has dramatically raised taxes and it still cannot pay. The big failure is with pension reform. The unions have blocked it insisting that all the promises made in the past must be paid in full. Now, they try to borrow and they cant. At least not at an affordable interest rate. So they are stuck. They are in crisis. Weve said many times on this program that what illinois really wants, what it says really looking for it is an obama bailout. They want a