Transcripts For FBC Varney Company 20140103

To the big story. Two stories corporation your privacy on the internet. Facebook is facing a class action lawsuit, accused of reading private data and handing it over. And the Justice Department spending half a Million Dollars on an enhanced Linkedin Profile that will give them access to profiles of all 250 million linkedin users. You have no expectation of privacy online. Well, maybe you should, but you dont. Its gone. But you should surely expect the companies who have access to your private information to keep it secure. Bill harris is here. Hes a former paypal ceo and he knows a few things about the internet and security and privacy, dont you . Yes. Yes, you do. Theres a distinction. Facebook reads your posts, gathers the information, sells it. Yes. Stuart theres a lawsuit about that. Yes. Stuart i say that your privacy in that sense has gone. Youve lost it, its not there anymore, but we should expect privacy of our personal information. My mothers maiden name, for example, my Social Security number. That i demand to be secure. Agreed, 100 . Stuart what are you going to tell us . The facebook, i dont know all the details all that. But from what i know i think the facebook activity is simply wrong. They should not do that. Okay . On the other hand, the government, the Justice Department, having enhanced access to Linkedin Profiles, perfectly okay. Stuart because they bought it, half a Million Dollars . No, not only because they bought it because that information is what linkedin is about. You put your information on linkedin in order for other recruiters, other companies, other people to find out about you. The information youre putting on linkedin is meant to be public and other companies who are recruiting are buying the same access to the same data. Stuart liz . Facebook in its terms of service explicitly says we may enable access to Public Information, your Public Information that has been shared with our users. So they do disclose in the terms of service what they plan to do with the information. And they also say, hey, you choose to be on a public site. Your information is likely public. Now, they say theyll strip out personally identifiable information and keep that secure, but as to the link, this is whats at issue with the lawsuit. If you like a website and send that website in a link, you send that link along, they essentially, the lawsuit says theyre scanning that information and selling it to advertisers. Stuart liz has made the point, bill, in the fine print youre accepting the terms and conditions of going on facebook and theyre allowed to read your posts and you say they shouldnt . Yeah, they shouldnt and its not right. Stuart if the lawsuit succeeds and theyre stopped from posting the information, they dont make money. No, they do. They dont have to inappropriately use truly private information in order to do so. Theres plenty of information that they have about people that can be legitimately used to target advertising, to do all sorts of things to the benefit not only of them, but of facebook users. Stuart well, i use gmail and occasionally fly to australia or new zealand and i put that in my messages, and i get ads, fly to downunder. I dont think thats right. Stuart youre a puritan. I would like to be one, yes. Stuart and ive got to get busy headlines for us on a friday morning. The white house says obamacare, they said that obamacare would reduce emergency room visits. However, according to a study from oregon when people were given free state sponsored care, visits to the e. R. Increased by 40 , more on that later. To asia, the amount of money placed in macao is about now seven times the amount placed on the table in vegas. The gas of duck dynasty launching its own line of guns, nine shotguns, one automatic handgun. General mills says its stopped using genetically modified organisms in cheerios, only in the original not the honey nut. A drop in the shares, apple shares were down and the same day of the down market, twitter went up. Were calling these the two horse race stocks were following carefully and well follow them for you when the market opens in a minute. [ me announcer ] this is the story of the dusty basement at 06 35th street the old dining table at5th and hoffman. Nd the little room above the strip ll f roble avenue. This magicic momt it is the story of where every great idea begins. And of those o believed they had the power to do more. Dell is honored to be part of some of the worldgreat stories. That began much the same w ours did. In a little dorm room 2713. This magic moment this magic moment so i can rch ally bank 24 7, but there ar24 7. Branches . Im sorry, im just really reluctant to t new things. Really . Whats wrong with trying new things . Look mommys new vacuum cat screech you feel tha in your muscles . I do. Drink water. Its a long story. Well, not having branches lets us give you great rates and service. Id like that. A new way to bank. A better way to save. Ally bank. Your money needs an ally. Through the hazy day of winter hear the Salvation Army band a hazy shade of winter. Is that the name of the song . Its the bangles, im told. Were indeed getting a blast of winter and that wont stop the markets from opening in about ten seconds, but maybe reduced Trading Volume. Scott shellady, i know a lot of us are laughing at us freezing yankees here, but i want you to tell me about the natural as prices. I think theyre going up due to the storm. Theyve gone up here and i think its more of a buy the rumor and the fact that weve seen nat gas prices. But inventory coming out soon and ultimately we cant be surprised by cold and blustery weather in january, can we . I just figure that those people laughing at us because were freezing are going to be paying higher home heating bills, theyre getting a blast, too. Thank you, scott. The opening bell has rung, were up, a modest bounceback. Look at apple and i think its up a little and wells fargo downgraded it. Its dead flat to 50 cents lower. One of our viewers in this program, im sorry, a varney regular on the show thinks that stock, apple is going to hit a thousand a share. Okay. Former paypal ceo bill harris is with us. Im not asking you for a comment on the stock price, im asking you for a comment on apple, the king of cool. Is it . Yes, the stuff they do is and remains fantastic. They have taken so much of the tech that we do out in Silicon Valley, put it into something that anyone can use, anyone can anyone loves to use and changed the way we live. Stuart still . Still. Do they have that kind of product in the pipeline . I guess we dont know that. We dont know and im sure they do not have something as revolutionary as the ipad or the iphone in the pipeline, but still, theyre doing great work. They will continue to do great work and you know, how can you actually expect a company to innovate so radically, so frequently. Stuart true. Are they simply going to be reduced to a position of milking the steve jobs legacy . I dont think so. Stuart Ford Motor Company came out with sales figures, up a little bit. The stock is dead flat. You want to make a comment on apple. More than four dozen on wall street have a buy on apple. It seems to be a thin basis of estimates and analysis when you read what wells fargo is saying. Tim cook is saying hes going to create new markets and that sounds pretty exciting. New markets, meaning new products. Stuart that means new products. Im interested in apple selling iphones to potentially 7 million in china. Thats big. Stuart and twitter, thats another horse race, were following it carefully. Look at this, 68. 70 per share as we speak and it was up yesterday in an otherwise down market and theres an analyst who says the companys in a good position to make money on video ads. What do you say about twitter . Again, im not asking for a stock recommendation, im asking you about the company. The Company Twitter is a rocketship. Its a rocket ship not because its something new and spectacular and overnight success, its a rocket ship because its fundamental to the way people are starting to use connectivity. And thats the question the big question of course, can they monetize . I think absolutely they will be able to monetize and i believe very much in video advertising. Well, you like that company, dont you . I love that. Again, im not talking about the stock, youre not a financial analyst in that sense. Normally i wouldnt talk about stocks. I happen to believe that twitter is probably overvalued. I think as a company and longterm prospects, wow, super. Youd have it in your portfolio as you look toward the future. Absolutely. And i know youve got a whopping big portfolio. The former ceo of paypal and o out and youve got one portfolio. And a Charles Payne pick, just bought its rival for a billion dollars. Its not a rival, but a complimentary company. And charles is going to take a victory lap. Nicole the stock prices, plea please. Nicole rightfully so. Fireeye, two of the most respected ceos in Cyber Security and you have the two companies now coming together for a billion dollars and fireeye is jumping. Sometimes the acquirer moves to the downside, but not in this case, fireeye is jumping 26 . Stuart thank you, nicole. Bill harris, you know about security, the cofounder of paypal, im not asking for a comment on the two companies, but security in general. This now is front and center. I put it to you, there is no way any Security Company can absolutely, totally guarantee the security of my personal information which i put online. Yes, thats right. Stuart you cant, can you . You cannot. Ill go further, you cannot guarantee anything with security. If you put something in fort knox, theres a way to get it out. Enough guns or people. That allies to the tech world. Stuart its an endless game. Endless game. Stuart between the hacker and the company thats protecting your secure information . Its an endless game. The good news, for the most part the good guys are winning and continue to win that game. Stuart the nsa is looking to create or buy a quantum computer. I think they should. Stuart which means they could break anybodys code anywhere, anytime like that. It doesnt necessarily mean that. It doesnt . Do you know anything about Quantum Computers . Yes. Im in deep water here, explain. Well, the mechanics is simply its not simply, its whht happens at the subatomic level. It sounds bizarre, but a particular particle can hold many different values whereas traditional computing, if a gate, you know, where you would store a 1 or a 0, can only hold a 1 or a 0 at a time. With the quantum computing, it holds many numbers at much and can operate so much more quickly, its a radically more powerful way to compute. Stuart if im trying to interpret all of this. My privacy is gone, its shot. No. Stuart it is, its shot. The information which i post online, my decision to fly qantas to australia, for example, and the security of my personal information, phone number, address, that kind of stuff can be hacked very, very easily. I have no privacy and ive got very little security. Well, so, you have very little privacy, you have pretty good security, depending what youre talki by the way, the quantum computer has nothing to do with that, its just a faster computer. At banks and Financial Institutions, all of the security at paypal are very good. Thats a separate question whether your information posted all over the place is increasingly available to anyone. Hacking or no hacking. Stuart thats true. My post, i post on the internet, no privacy. Gone. Stuart my personal information, secure to a degree. Secure to a degree. Stuart but never, ever totally secure. Thats correct. Stuart you want to tell me about bitcoin . Bitcoin, one of the things Silicon Valley has gone yeahyeah for bitcoin for a series of reasons. I think its hogwash. What is it . Its a pseudo currency, a currency you can use instead of u. S. Cash. Great. Im all for pseudo currencies, there are many pseudo currencies, but the point is what do you need it for . What utility does it give you . What can you do with a bit coin that you cant do with a dollar . Nothing. Stuart i can hide it from the authorities. You can hide dollars if you want to, get cash and stick it under your mattress. So theres no utility, theres no special utility and in fact, i tell you what, dollars under your mattress is even harder for the authorities to find than bitcoin. They can still find it. Stuart would you suppress bitcoin and drive it out . No, i wouldnt, i think its fine. I dont think its anything special. A, its going to be a medium of exchange because the dollar is already there and the euro is there and they work fine and second, i see its just silliness to say that bitcoin is worth 100, 1,000, its silliness, its not worth anything. Its worth what its worth as a medium of exchange. Stuart anytime you want to be our guest on a snowy friday morning come on board. Bill harris, thank you very much indeed. Thank you. Stuart i want to go back to nicole fast. Yahoo above 40 a share right now . Yeah, its looking pretty good here this morning. A couple of analysts, steeple nicholas and Merrill Lynch talking about yahoo and the 44 price target, this is on a higher valuation for alibaba. Stuart ah. Nicole weve seen this before where they realize its worth a little more. Stuart and look at the big board, were back up just a little bit. 56 points higher right now, right around 16,500. Before we leave the stage, you like stocks at the moment at 16,500 on the dow . Yes, i like stocks within the context of disciplined diversification. Stuart disciplined we could spend ten minutes on that weve gotten seconds. Disciplined diversification, thats all you need to know. Stuart thank you for being here from your sick bed. Sure, glad to be here. Stuart and Cyber Security, the huge issue every day it seems theres another hack. Will any company guarantee your security online . Were going to find out after this. Who can it be knocking at my door go away, dont come down here no more can you see that its late at night, very tired, and im not feeling right all i wish is to be alone stay away, dont you invade my home but your erectile dysfunction it could ba question of blood flow. 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Theres nothing like being your own boss and my customers are reall liking your flat rate shipping. Fedex one rate. Really makes my life easier. Maybe a promotion is in order. Good news. I got a new title. And a raise . Management couldnt make thahappen. [ male announcer ] introduci fedex one rate. Simple, flat rate shipping with the reliability of fedex. Open to innovation. Opento ambition. Open to boldids. Thats why n york has a new plan dozens of tax free zones all across the state. Move here, expand here, or start a new business here and pay no taxes for ten years. Ere new york. If theres something that creates more jobs, and ows more businesses. Were open to it. Start a taxfree business at startupny. Com. Now its possible that the big storm from chicago to new york to boston has affecting the Trading Volume and maybe even a little pricing on the exchanges, but we do have a modest bounce for the dow, back up 48. Right around 165. Where is the price of gold this morning . Were up four bucks, struggling back to 1,229 an ounce. The price of oil took a huge hit the other day, down a little bit today. 95 a barrel. Two major Internet Security breaches made news this week. Hackers exposed the users names and phone numbers of millions of snap chat users. And the socalled Syrian Electronic Army a hacker group supposedly with ties to the assad regime claims to have attacked microsofts video chat service skype. With that news, can you buy absolute security for your private information . We have David Kennedy with us, the ceo of the trusted sec company. His company is hired to hack into Computer Systems to find security flaws. Welcome back to the program, good to see you again. Thanks for having me. We just had bill harris on the show, cofounder of paypal, knows a thing or two about security and he said, look, you cannot have absolute security. You simply cannot guarantee it. Would you agree with that . I agree with that statement. A lot of things security has tried to do, the type of hacking we see today. The truth of the matter is, theres nothing that you can assure 100 security, its not possible at the time. Stuart the value of a company like yours is probably going to go up when youve got all of these lawsuits against websites which have lost private information so the value of your company is going up, isnt it . It has. In fact, we had a record year last year and its only what were only three or four days into the new year and securitydriven topics are dominating the news. Its going to continue to expand. Security itself is going to continue it expand and its interesting because the Security Industry is trying to find itself and depend these attacks. You are one of the attackers. Okay, you work for the website and you deliberately attack that website to show the flaws in the security system. So youre actually on both sides of the fence, arent you . Thats right. We do things for big corporations, hacking into corporations and try to deal in electric properties and break into the buildings and plug in and steal their secrets. Its a big concern for a lot of corporations. You see the target breach, and everything with skype and snap chat. And companies are trying to figure out what to do to protect themselves. One thing i would disagree with the former ceo of paypal, Financial Institutions were considering more secure, but far from being near secure. Theyre some of the worst after securing their data and everything around it. As an industry, everybody is trying to figure out what to do to protect themselves right now. Stuart is there an industry or a. 0 an organization that you would say its as secure as can get . Thats a tough one because we struggle with that. If you look at companies, microsoft, for example, the past ten years theyve been atact atacted attacked and operating program was attacked i would say that microsoft is getting to be best in class when it comes to security, but you have a lot of other companies, twitter, for example, trying to step up their game and other folks that have successful security to thwart the attacks. Stuart david, are you looking for an ipo or expecting a buyout imminently. I love what i do and security has been a passion and i love breaking into companies, not interested right now, and continuing to grow and living the dream, i understand. Living the dream. Stuart thank you for coming in, a good subject. Thanks for having me. Stuart the Obama Administration said give People Insurance and theyll make fewer trips to the emergency room. Turns out thats absolutely not the case. Its the subject of my take and its next. In a new york minute, ooh, ooh everything can change in a new york minute, ooh who found a magic seashell. It told him what was happening on the tradg floo in real time. The shell brought him great fame. But then, one day, he noticed that everybody could have a magic seashell. [ indiinct talking ] [ male announcer ] right there in their Trading Platform. [ indistinct talking continues ] [ male announcer ] so the magic shell went back to being a. Hell. Get live squawks right in your Trading Platform with think or swim from td ameritrade. We are thinkers. The job jugglers. The up allnhts. And the ones who turn ideas into aion. Weve made our passions our lifes work. We strive for the moments where we can s, i did it we are entrepreneurs who started it all. With a signature. Legalzoom has helped start over 1 million businesses, turning dreamers into business owners. D were here to help start yours. L. Turning dreamers into business owners. I didnt see my friends having the same difficultie that i did. And when my professor approaed me about my constant lateness, i knew i had to do something. So i talked to my doctor. And it turns out,. I have adhd. If this sounds familiar,. Or if you had adhd as a kid and thought you outgrew it,. Find out more. Take a quiz at ownuradhd. Com,. To help recognize the symptoms then talk with your doctor. Its your adhd. Own it. New at 10 00, here is comes. Governor scott walker is with us. Does he have the formula for republican success in 2014 and beyond. He says it starts with cutting taxes and hes here on that. Plus, here is one way to make money on the colorado pot business, security. Weve got the man who protects the weed. Give People Health insurance and they go to the emergency room much more frequently, not supposed to be that way, but thats what an exhaustive study has found and its detailed today in the New York Times. Here is my take. This is another hit on obamacare. The president himself said that once people got coverage, those expensive visits to the emergency room would be reduced and we would all save money. Wrong, mr. President. The study shows the exact opposite. In oregon, 30,000 people were selected by lottery to receive free coverage, medicaid. In the next 18 months, visits to Emergency Rooms went up 40 . That surge crossed all population groups and all conditions, from accidents to sniffles. Go back a few years to when obamacare was being debated. We were told that once people were covered they would be able to go to their primary care doctor and get treatment like everybody else. We were told it was a National Disgrace that so many were forced to go to the e. R. Well, look whats happened. E. R. Visits surged 40 . And two points to be made here, first, the obama team is incompetent. They totally failed to understand the e. R. Problem. As the authors of the study say, give something away and people will use it more. Theust doesnt sustain basic economics. Two, we were deceived again. We were sold obamacare on the ground that it would save money. Keep your doctor, keep your plan, cut costs. They promised it all and we got the exact opposite. If anything good comes out of this, out of this mess, it is this. Perhaps we will finally understand that government should not be running Americas Health care system period. [ ] this is the story of the lile room over the pizza place at 315 cnut street. The modest first floor bedroom in talln, tonia and the dusty basement at 1406 35th street. It is the story of the old dining room table at 25th and hoffman avenue. The southbod bus barreling down i95. And the second floor above the strip mall at roble and el camino. This magic moment it is the story of where every gre idea begins. So different and so new where those with endless vision and an equal amount oaudaciousness believed they had the power to do more. Time and time again. And then, it happene adell, wee honored to be part of some of the worlds great stories. Stories that began much the same way ours did. In a lite dorm room 2713. This magic moment [ male announcer ] evenore impressive than the research this man has at his disposal is how he puts it to work for his clies. Morning. Morning. Thanks for meeting so early. Co on in. [ male annncer ] its how edward jones makes sense of investing. [ male annncer ] its how edward jones my dad has aor afib. Brillation, he has the most common kind. Its not caused by a heart valve problem. Dad, it says your afib putyou at 5 times greater risk of a stroke. Thats why i take my warfarin every day. But it looks like maybe we should ask your doctor about pradaxa. In a clinical trial, pradaxa® Dabigatran Etexilate mesylate . Was proven superior to warfarin at reducing the risk of stroke. And unlike warfarin, with no regular blood tests or dietary restrictions. Hey thanks for calling my doctor. Sure. Pradaxa is not for people with artificial heart valves. Dont stop taking pradaxa without talking to your doctor. Stopping increases your risk of stroke. Ask your doctor if you need to stop pradaxa beforeurgegery or a medical or dental procedure. Pradaxa can cause serious, sometimes fatal, bleeding. Dont take pradaxa if you have abnormal blding or have had a heart valve replaced. Seek immediate medical care for unexpected signs of bleeding, like unusual bruising. Pradaxa may increase your bleeding risk if youre 75 or older, have a bleeding condition or stomach ulcer, take aspirin, nsaids, or blood thinners. Or if you have kidney problems, escially if you take certain medicines. Tell your doctors about all medicines you take. Pradaxa side effects include indigestion, omach pain, upset, or burning. If you or someone you loveas afib not caused by a heart valve problem. Ask your doctor about reducing e risk of stroke with pradaxa. Stuart i know. You may be lacking in california because we are freezing from chicago to boston but we are here and we have a great show for you. Governor scott walker is here. He plans to cut wisconsin at incometax is. He is the polar opposite of the right. Internet security and privacy making big headlines. Facebook sued. Two Security Companies emerged. Trial lawyer mark lanier is here under that. Marijuana growers have a legal and valuable crop. We have a guy who provide security and makes money on it. Loren hudson is here, shes 13 and has written a book, she hates being saddled with debt. We are told Charles Payne is in the building. He is ready, willing and able to make you some more money. Stuart lets get at it. It is a Charles Payne pick. It just bought mandyon for 1 billion. It is a Security Company, mandyon is complementary in the security business on the internet. You didnt see the merger coming. Charles i elected in november and yesterday we were talking cybersecurity. We have Great American Companies Like fire i. I love it. I love when we talk about news but help the audience make money from the news because that is what we are talking about. Opportunity. The cyberattacks must be dealt with. This net cats of the world have taken not laizzezfaire it cant go on. The consumer will say i dont want my phone number on the internet. Stuart which and the enormous value to any company in the security Internet Security business. Charles the whole dynamics have been changed. Everyone is on line. Everyone is out there. Lets make it as secure as possible. By the way theres another trend, i did talk about it earlier this week on the business channel. I watched the last three years acquiring companies, their stocks are taking off. That is a very bullish sign. Stuart the acquiring company, the buyer, that company is taking off. Charles that tells me investors and wall street want to see businesses bulk of for growth. Buybacks are so so but when you bulk up for growth and you take someone over that is what is being awarded in the market. Stuart the big board friday morning, snow from chicago to new york to boston. We are all here and the market is up 62 points. Look at the price of oil, 95 a barrel. Chicago, bring in sandra smith. I will say oil is moving sideways but i want you to tell me what the deepfreeze in the countrys doing to natural gas prices. Sandra in chicago is minus 8 degrees, 30 degrees below normal for that time of year. Frigid temperatures and they are headed your way. Using a lot of natural gas and heating oil, natural gas best performing commodity in 2013 up 30 and already started in 2014 with obtained because expectations that we need a lot of it to heat our homes, we have a huge oil, natural gas and distillate inventories report at the top of the next hour. Two days away because it is a holiday. Everyone is watching this report because it could be a major upset. Stuart we will get a report an hour from now on held much natural gas we have in storage. If we have less natural gas can we expect because of this drawdown because of the cold weather i would expect the price to go up and everyone will pay that price in california or texas or wherever. Sandra 40 in the United States uses natural gas to heat their homes, paying 30 more now than last year. Natural gas prices are down because the expectation is we will see a smaller than expected drawdown in natural gas, that could change next week considering this cold weather blowing through the midwest. All eyes will be on that. It is down ahead of that report. Stuart 8 in chicago. One days olive takes gamblers to wager what is that in an entire week. The big casino players, before you go on, thank you very much for getting out of your sick bed and appearing with us. I know you have been sick. Thank you for making it in on a terrible weather day. We appreciate it. Lets look at stocks, pulling back, great 52 week, most of them over 60 but as you noted, it is a hot place, a Holiday Season was great, and defending up 19 revenue. And big players building a new seemed hotel with fake lakes and the like. The other part that is interesting is only 4 of Chinese People visit it. It shows you there it is so much room for growth. Stuart that is a Growth Market if ever i heard one. Move on to General Mills, cheerios made without gm ingredients, genetically modified ingredients, they will start appearing on store shelves soon. Would you feed little cora cheerios, newfangled cheery as with no gm content . Absolutely. Listen, cheerios is battling to consumer pressure, people eat lean cheerios without sugar they tend to be health nuts. This company is entering consumer pressure to do this. I point out this is not affect their honey curious but not apple cheerios. They are answering to political and consumer pressure. I wouldnt seek those cheerios. Stuart i could go on but i am not going to. Thank you very much. Lets move on, wisconsins toughtalking Governor Scott walker fought the unions in his state and won, faced a recall election and won that too. Now he has written a book on his battle, called unintimidated the governors story and a nations challenge, and during the for a new fight over state income taxes. I added chance to talk to the governor earlier this morning and here is what he had to say. I made a pledge when i ran for governor four years ago that we cut taxes every year i was in office. We have done that. 1 billion of tax relief, propertytax is down three conceded years, income taxes down, taxes on employers are down, we will continue to do that but it is not just about cutting taxes but reforming taxes in a way that allows the biggest bank on the states economy putting more people to work. What i am looking at is the best way to do that going into my next budget year and a look at states across the country and realize the states that have little or no income taxes, state income taxes are the states at the top of the list when it comes to jobs. We want to find a way to create a foundation for doing that in the state of wisconsin. Stuart is that the plan . Your strategy is to go after income taxes and the state level and get them down . You think that is the best bang for the buck . We cut through the budget six months ago and income taxes across the board and a number of brackets but going further than that can have a very positive impact on the states economy. The last three years wisconsin versus ill. In our case we lowered the tax burden by billion and a half, and tax revenue collections, and as the economy improves and more people go to work and personal income growing up as many people are not only going to work but making more money than they did in the past because of improvements in the economy. Tax revenues go up even though the tax rate go down. Contrast that with my neighbor to the south where three years ago they raised taxes 67 on individuals, 46 on businesses and have budget problems. Our budget continues to have a surplus and we continue to dial that in tax relief, a sharp contrast between two different points of you as you are starting to see even in new york city. Stuart on want to deal with new york in the second but what you just describe sounds a lot to me like reagan economics. Would you suggest this as a template for republicans on the National Level . Absolutely. My friend art laughter, one of the early advisers to then governor and then later president reagan, icon of american history, sweet spot as you lower the tax burden particularly when you take back august of 1981 when president reagan signed the economic recovery act and flashed a marginal tax rate that put more money back in the hands of Everyday Americans and in turn stimulated the economy through greater purchases, creating businesses and putting more people to work we see a small glimpse of that in our state, wisconsin. We want to look forward and say it is not enough to cut taxes, we need to do so in an aggressive way that looks at eliminated or taking a major portion of the burden off of the table and if you do that we found from employers in our state and consumers they put the money back into the economy. Stuart that is the exact opposite of what is happening right now in new york city. The new mayor of the city bill deblasio plans to tax the rich, raise taxes on rich people and spent more government money. Is it possible that we are seeing an election in 20142016 in which there are polar opposites, raising taxes, populism from the left, cutting taxes, Economic Growth from right . If that is the case where do you stand in that debate . Are you leading that debate . Clearly we stand with Hardworking Taxpayers in our state across the country. In the end most people understand theres a clear choice. Who should control the decisions . Should it be you and your family . Should it be Small Business owners . Should it be family . Should it be a Senior Citizen . Should be individual americans . Should it be the mighty hand of the government . Most americans in my state in wisconsin citizens believe they are the ones who would make a better decision how to spend their money and in doing so as we continue to provide tax reform and tax relief we will see the economy grow and the marble we are the more aggressive we are we will see bigger improvements in the future. Stuart you are going to be set up for demagoguery. You are going to be demagogue to death. You have been demagogue to death already and the book is unintimidated. I got that. You got to be ready to be really hit hard by the left, you are mean, you are heartless, you are leading people behind, the income inequality gap is growing and you are part of it. They will demagogue you to death. We can fight back with the same level of populist reform, we can fight back with a message that says we are the ones about fairness. Furnaces and about bringing people down. It is about trying to bring people up, fairness is giving everyone a chance for freedom and prosperity that our founders dreamed of when they put this country together and we try to live for every day, the American Dream is one we try to lift people. We are not about picking winners and losers. We are about moving this country and ultimately each of our state forward in a way that doesnt leave anyone behind and that is not about bringing people down. Too many folks on the left one to bring people down. We want to bring everyone up and best way to do that is to empower every day americans to control their own lives, their own destiny, their own future by putting more money in their hands to alter the least in the late the economy. That is the best way to do it. They are the best decided of that, not the government. Stuart when Governor Scott walker, republican wisconsin, thanks for joining us on varney and company. We appreciate it. The dow industrials up 50 points a little shy of 65. Class action lawsuit filed against facebook over alleged monitoring of private messages. The man you hate to love, mark lanier after this. [ male nouncer ] this store ows how to handle a saturday crowd. [ male announcer ] the parking lot helps by letting us know whos coming. The carts keep everyone on the right track. The power tools iroduce themselves. All the bits and bulbs keep themselves stocked. And the doors even handle the checkout so we can workn that thing thats stuck in the ing. [ female announcer ] today, cisco is connecting the internet of everything. So everye goes home happy. Stuart a surprise, toyota december Sales Numbers show the downside move, 1. 7 . That will be true of gm, ford and chrysler expecting a bigger increase in sales than we actually got. Toyota stock is virtually unchanged on the news, 120 a share. Facebook facing a classaction lawsuit being accused of intercepting userss private messages and handing the data to marketers and advertisers. Here is our favorite lawyer, his name is mark lanier from the mark lanier law firm. Sounds good today. Stuart still screwing the american judicial system . Protecting the rights of ordinary americans. Stuart 200 lawyers going at it in your firm. I wouldnt think the payroll is that large. I hope not. Stuart to the measure and concentrate now. Taken down. Stuart no. Surely it is written in the fine print that they have access to what you put on facebook and can take that information and sell it. That is how they make money. They are not breaking the law, are they . I dont know if they are or not. They better have in the fine print and a disclosedand will place. This case was brought in california. California had lots of picky laws about this kind of stuff so it enables lawyers to really push this case. I got to tell you i went after facebook myself several years ago because they were using private information that children put on without adequate notice to children. I sat down with general counsel for facebook and worked out an agreement that they would change their policies in lieu of me bringing the lawsuit. I have no doubt they may be in trouble in this and if they are violating that they ought to get nailed. Stuart you are taking away their ability to make money because that is one of the big ways that they do make money. You are enforcing the right of the user so that the user is at least a where someone is making money off of their back. The way this was done there was a swiss company, high tech bridge, that went in and basically embedded a trap to see if facebook was selling information off of urls inside messages and it looks like they got nailed. Facebook has not been warning people about that. Stuart i am told in the fine print there is the stipulation that they can access the information you post on facebook. Secret email, not supposed to be posted in general for facebook. There may be at the difference. Stuart explain the distinction. If i go on facebook and make a post, what is the difference between that and what you call a secret email . I could go on a public face book page or private one and make a post for the world to see on Stuart Varney at Facebook Page or go on and do a private email from me to Stuart Varney and you could do one through your email account, private to me. Is not be imposed on a public sight. Just a private email between us. Like an email account. That is where they are in trouble. Stuart that is the nature of the lawsuit. That private email, you to me, me to you, they are reading accommodation treated. And scanning it for data. Charles for the user without telling anyone. Absolutely. Stuart this is resolved with a different disclaimer. Which is what i did when i went to them before i filed my case. I knew i would be on this show when you give me grief over filing that sues so we worked it out and they changed their policy and they need to change this one. Stuart you would you agree virtually anything you put on the internet, any post you make you have lost your privacy and i dont think it is coming back. 100 and Everyone Needs to be aware of that. Theres nothing you can do. I cant tell you how much money i have made, dedicated our property and house to the internet because we felt emails, things people never dreamed we would find because once it is in the internet it is there forever. Stuart we have a lot more coming up. Obamacare championed by the liberal left and our field to be a disaster, a train wreck. Some are jumping ship. Find out what the extreme leftist michael more said about it all after this break. [ male announcer ] this is the story of the little room over the pizza place on Chestnut Street the modest first floor bedroom in tallinn, estonia and the southbound bus barreli down i95. This magic moment it is the story of where every great idea begins. And of those who believed they had thpower to do more. Dell ihonored to be part of some of the worlds great stories. That began much the same way ours did in a little dorm room 2713. This magic moment stuart friday morning snowy day in the northeast chicago to boston may be the Trading Volume is affected the we are about to map 55 points of the loss yesterday. No secret president obama is no friend of coal. Coal stocks are down 30 since he was reelected. Arch coal for example run chart if ever i saw one. Rich edson is in washington. Republicans are trying to get political the vantage out of this. Rich the road for control of the senate run through coal country. Republicans need to pick up 6 seats to take the senate, targeting democratic seat in western kenya, arkansas and montana and republicans making the strong effort to tie democrats in these stains to president obamas epa edge and the dubbed the the war on cold, higher emission standards for power plants and democrats in those states trying to separate themselves from the president on that issue. Coal stocks have fallen 13 since the president was reelected. The Energy Sector is up 18 . Analysts credit natural gas with the shift away from coal. Stuart i will check that out, 13 down since the reelection or 30 of the. 30 for the entire administration, 13 since the reelection. Stuart i picked up a magazine in my house just yesterday called 201 magazine with a picture of rich edson labeling you as the funniest man in Business News because our audience doesnt know it but we do, you are a standup comedian in your spare time. Rich i have participated in a feud comedian events down here but it is pretty lobar in d. C. Stuart come to new york and we will put you on set and you will make me laugh. Very easy to do but you will make me do it. You actually have to do it. Rich surprise those magazines are left with my mom looking for them. Stuart your mom lives near me. We will be seeing you soon. A hit on obamacare. The president said once people got coverage, expensive visits to the emergency room would be reduced. We would all save money. New study showed the opposite. In oregon 30 of people selected by medicaid free coverage. In the next 18 months visit to the Emergency Rooms went up, up 40 . Mark lanier, any comment on that . I am not at obamacare fan. It is not the best system we could have. I dont the debate takes care of poor people or those people who cant get insurance. Stuart it is another deception. We were sold a bill of goods on this. Charles we were sold and amazing bill of goods. I am not surprised. It is amazing when you get the stats and they keep coming out. It blows you away. Stuart another hit on obamacare. You have a baby, difficult to add that child to your plan. The web site doesnt have an Automated Service to update quickly and easily your coverage after the birth of a child and any other common life changes. You cant sue them. I am not an obama fan or obamacare fan but those are things that need to be tweaked and i am sure they will get fixed and the president is probably watching your show right now picking up the phone saying get that fixed. Charles the word determine in the intro, commonsense stuff. The rush to get this web site was built on ego, ideology instead of common sense and patience. Only if they waited a year but the pride, the ego and government in efficiency. Stuart answer me this one. If i sign up for obamacare, give all my personal information and they lose it somebody else gets it. Who do eyes do . You might be in trouble. Probably not. We will find whoever wrote the code in the software that lost it. We will sue them. I will find someone for you. Stuart one last one. Michael mores op edge in the New York Times getting a lot of attention. He is calling obamacare, quote, awful. He says this. The dirty little secret many liberals have avoided saying out loud. That would be, i think, he wants the single payer system. Charles 60yearold couple making 65,000 a year the premiums are levon thousand 800 on average, deductible 12,600. They will pay 25,000 in a worstcase scenario. That will break a lot of people. The president says no one will ever go bankrupt again because of medical expenses. This couple michael more is describing will go bankrupt. The president scrapped a lot of lowerpriced plans for more expensive plans that include coverage people dont want or need. He made it more expensive for a lot of people and everyone knows he wants Michael Michael more wants single payer but the way this has been implemented it is very expensive. Stuart i believe you lawyers for this. Not at all. Who do we blame . Dont get mad at me. The Insurance Companies. Stuart come un. We cant have a single payer system in america because the Insurance Companies are out of business and theyre too big and economic profile to do it so we wont have a single payer system so what does obama do . Try to split the baby and put together this frankenstein monster that wont be a real human or work and take this from insurance and this from single payer and this from that and put together a frankenstein that will never work. It is 4. It is a monster. Stuart all we done . Pretty much. Stuart treat to see you in new york on a snowy day with several inches of snow and ice, you made into the studio. Skidded down the sidewalk. Stuart for a lawyer you are all right. Charles private jet to didnt work. Stuart you have your own dreamliner. I do not. Just a little writer. Charles you dont have one. Stuart happy new year to you, thanks to you. We asked this question before, how do you make money over illegal marijuana . There is a way and we will tell you after this. [ cellphones beeping ] [ cellphone rings ] hello . [ male announcer ] over 12,000 financial advisors. Good, good. Good over 700 billion dollars in assets under care. Let me just put this awa [ ma announcer ] how did edward jones get so big . Could you teach kids that trick . [ male announcer ] by not acting that way. Ok, st quarter. [ male announcer ] its how edward jones makes sense of investing. And she might have if notor kari, the identity thief who sto jills Social Security number to open credit cards, destying jills credit a. Every ar, millions of americans just like you arn that a little personal information in the wrong hands could wreak havoc on your life. This is Identity Theft. 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You have so much to protect and nothing to lose when you call lifelock right now and try 60 days of ideity theft protection risk free. 60 days risk free. Use promo code onguard. Order now and get th document shredder to keep sensitive documents out of the wrong hands. A 29 value free. Stuart two days, 1 million, that is what hot shop owners think they made off of recreational land legal marijuana. Big numbers. Charles absolutely huge numbers. Here is the thing. It promised to be a big deal for the tax base. We will see how that works out particularly since medical marijuana isnt taxed, the recreational stuff is. We knew it would be big. Stuart 300 an ounce is what theyre charging in pawnshops and you cant just walk outside and smoke on the street, you have to take it home. Charles initially they will put off a saw around it but rules get lax until you have people smoking weed. Stuart mark lanier, we held him over for a third block. You are not a fan of legal weed. Not at all. To me you look at the road where it will go. I dont just mean it is a gateway drug and all that. We have Serious Problems in our country. Educating our youth. Do you really think making marijuana legal will help educate our youth when they say i will still more dads week . Will that help education in america . Will it held Business Productivity . Stuart i am not being facetious. I can see the day when you could sue a marijuana grower or dispenser because presumably theres something harmful in the smoke would you ingest which will give you a condition of some sort and is therefore actionable. That doesnt change whether it is good or bad bet stuart the below opportunity for a guy like you. I will never hesitate to take a modified can. A 5 find a legal avenue, i believe in using courts for a good change to society. Stuart when you are a puritan at heart. You are a welcome guest on this program. Get out of here. Staying on that. Find a way to cash in on it. Dan williams is president of security america providing Security Services for pot dispensaries and for growers. What exactly do you do . Set up a camera system to check out marauders who steal the week off of a farms . Actually sets up all Security Systems with cameras, alarms systems, we try to do the highest level of technology we do at any time to secure these facilities. Stuart you specialize in marijuana facilities. Supposing 10 acres of wheat on Colorado Mountain for example, how much to give me security . One acre would roughly be 25,000 for a system. We have exterior motion detectors that can tell the difference between the snow storm or person approaching a car that would go up and send a remote satellite signal to an Alarm Company that would dispatch police approaching and in ground sensors that can tell the difference between a dog and a person. Stuart i assume you have been doing this since way before pot was legalized in colorado, you are providing business in the recent past. No. We will only secure a license facilities in colorado and washington and branching out in connecticut and arizona as well. Stuart mark lanier, still with us. When stewart i asked how you have been doing this before you change did to present tense and said rain now we are only doing legal. The question is have you historically been doing this for illegal pablo . We have never secured any license on state regulatory level. Before this, many members of the Company Actually working for a Company Called envision, and jacoby mexican grill. Stuart i can see i think, i dont know but i think legalization of marijuana will spread beyond colorado. This is coming on a nationwide basis. You pretty much got a growth industry, bigtime growth industry. While how quickly it is expanding. We have facilities in canada that are 2,000 square feet which is a Small College campus. Trying to keep up with the demand for marijuana when it is recreational we are seeing colossal growth facilities the 50,000 square feet plus in order to keep up. Stuart repeat that, 50,000 square foot growth . Like the big warehouse where you grow it in the wars. Huge warehouses, some built from the ground up. So irrigation hoses that are able to water the plants in each of the rooms and built in smaller rooms, pesticides get into the area. They shutdown one room without having an affect the rest of the plant. In new jersey what we saw was 6 facilities opening in new jersey and a first facility to open was close in two days because of the line hold the door and didnt have products. Stuart interesting stuff. Appreciate you being with us. It is a growth industry and we are interested in it. You want a last word . Charles the biggest largest buildings in the world are in the Flour Industry where they grow the roses and things. We wont see gigantic gigantic building is and will present opportunities for builders and everyone else and of course lawyers. Stuart one more pop story, a big they are a pablo vending machine company, 27 a share. Look at the two date charge, net box is up 30 . Doesnt tell the story on that but it is up 40 . After the break a 13yearold youngster who wrote a book on being a conservative and now she is taking on the minimum wage and she is going to be here. [ male announr ] this is the story of thlile room over the pizza place at 315 cnut street. The modest first floor bedroom in talln, tonia and the dusty basement at 1406 35th street. It is the story of the old dining room table at 25th and hoffman avenue. The southbound bus barreling down i95. And the second floor above the strip mall at roble and el camino. This magic moment it is the story of where every gre idea begins. So different and so new where ose with endless vision and an equal amount oaudaciousness lieved thehad the power to do more. Time and time again. And then, it happene at dell, were honored to be part of some of the worlds gre stories. Sties that began much the same way ours did. In a lite dorm room 2713. This magic moment this magic moment so ally bank has a that wothats correct. A rate. Cause im really nervous about getting trapped. Whys that . Uh, mark . Go get help i have my reasons. Look, you dont have to feel trapped with our raise your rate cd. If our rate on this cd goes up, yours can too. Oh that sounds nice. Dont feel trapped with the ally raise your rate cd. Ally bank. Your money needs an ally. Stuart facebook facing the classaction lawsuit accused of intercepting users private messages and handing data to marketers and advertisers. The Justice Department spending more than half a Million Dollars in an enhanced Linkedin Profile that will give them access to the profiles all 250 million linkedin users, that is up 0. 39, General Mills will begin selling cheerios without genetically modified ingredients. General mills stocks are virtually unchanged. 14 increase in sales from last year, 2 million cars and trucks sold in 13. The best year since 2006. Stocks dead flat. Up next the 13 yearold author who penned a book on the virtues of capitalism. Welcome back. How is everything . Theres nothing like being your own boss anmy customers are really liking your flat rate shipping. Fedex one rate. Really makes my life easier. Maybe a promotion is in order. Good news. I got a new title. And a raise . Management couldnt make that happen [ male announcer ] introducing fedex one rate. Simple, flat rate shipping with the reliability o fedex. Stuart charles will make us some money with gt advanced. Charles are relatively small company. We did it at 10. 5. So much stronger, extraordinarily sensitive. They did 6 million deal, and it pulled back, i am not sure other than the fact it had a good run. Ultimately may be applicable to take about. It is the huge deal. Creating a lot of jobs in arizona. Stuart ever sued the g t advance . No, no plans at this point. Glad to see you touting apple. Stuart remember a 13yearold, lauren hudson, coauthor of our beet tomorrow. Student teaching capitalism to america. She joins us now and has a bone to pick, and my right . You think this country is trying to make it more difficult for our youth to succeed. I do. I think one thing our generation needs is to be told the truth. Right now the government is telling us Big Government and raising minimum wage and all the National Debt is the answer but really it is not. It is crushing our opportunities. Stuart did you write this book with your dad . I did. I rode the fiction section and he wrote the capitalism pointer tips at the end so children would be able to understand how the pointers were related to real life. Stuart is this how you feel you as a youngster, you are mad at Big Government, you are mad at the debt, you dont like the minimum wage, these are your ideas . Yes. I think Big Government and raising minimum wage may sound great at first, 20 an hour, 10 an hour, more money for the people, but in truth it is only crushing our opportunities. In Northern Kentucky we cant build a bridge from across the major ohio river because we dont have the money because we a 17 trillion in debt. Stuart my daughter tried to get a job in a bakery. It required three visits to three separate offices to get three separate forms before she could work in that bakery. I think you are talking about exactly the same kind of thing, suppressing the idea of getting out there and making something of yourself. The government is suppressing that Natural Resources of energy in our young people. That is what your book is all about, isnt it . Part of the American Dream is to be independent and be able to support yourself as a person but the government is telling us oh we will do this for you, we will do that for you but how are we going to be able to work by ourselves if the government enl supporting us . We will never be able to make it. Stuart am i right in saying last time you appeared on this program the books bite, useful lot of extra copies. Is that correct . Yes we did and i am thankful for that and excited to be here today. Stuart i predict there will be another spike and we hope there is. Thanks, come back again soon, we like to hear what you say. Thank you. Stuart do you have any cold water to pour on this one . And amazing young lady, lauren hudson, interested to see where she goes in life. Stuart running for president in 200057. Frankly amazing. Stuart the 52 researchers have been rescued from their ship icebound in the antarctic. Now theres another crisis. The icebreaker that offered a helicopter used in the rescue is stuck. In a moment. Just by talking to a helmet. It grabbed the patients record before we even picked himp. It found out the doctor we needed was at st. Annes. Wiggle your toes. [ driver ] and it got his okay on treatment from miles away. It even lled strings with the stoplights. My ambulance talks with smoke alarms and pilots and adiums. But, of course, s a good stener too. [ female announcer ] today cisco is connecting the internet of evything. So everything works like never before. Stuart on this blizzard friday i give you Global Warming up day. Remember the ships that got stuck in the eyes looking at Global Warming . Subsequently a chinese rescue boat comes along, launches a helicopter, the helicopter get 52 people of the stock should, taken to an australian ship. Heres the update. The original chinese rescue vessel is now stuck in the eyes. Any comments since you are still with us . They need to send you down there to fix this problem. I have seen you with guests. You break the ice so well. Send Stuart Varney down and let him solve this problem. Stuart going to sue anybody . No. Stuart send al gore down with you, you can break the ice and he should explain why it should be disappearing. Stuart when you are conservative. I am a conservative but i believe in Global Warming. Stuart now he gets to diane seconds left. Using the earth is really warming. Yes it is. I dont know how much is humans doing and we are not helping the. We are not taking it the other way. Stuart cant understand why we give this man so much time. Charles bid and switch, got you again. It is the lawyer in me. Stuart 22, 23, got to be out in five seconds. Goodbye. Great cufflinks today. See you later, back in a moment. Last hour, i gave you my take on more people going to the emergency room even after enrolling in Health Care Plans, getting insurance. I say, if anything good comes out of this mess, it is that we will finally understand that government should not be running Americas Health care system. All right, thats what i say. Here is what you had to say. John, anytime everything is promised it is either a law or the person saying it is clueless. Mandy had this to say about obama. He wont be sitting in hours for emergency room waiting, so why does he care . They are elitist demagogues. Carol says anyone with half a brain knew this phony Health Care Plan was doomed to fail. Mark lanier, still here. To. Im a mold you cant get rid of. You must have made a fortune out of mold. Absolutely. There is money in mold. Obamacare i go back it is frankenstein monster. There is not coherent plan. There is not a government in the world that does this, not one. Do you think if this was such a brilliant idea and brilliant plan someone on the globe would be doing it . 10 59, 47, 4. Almost ought of time. Lanier, you werent bad. Charles, excellent ad usual. Dagen wait to let the trial lawyer suck up all the time. Cant stop talking. Thats right. Dagen we love mark, mark is terrific. Mark lanier, Stuart Varney, Charles Payne. Have a good weekend, gentlemen. The first snowstorm of the new year, hit with as much as two feet of snow and dangerously cold temperatures. Many airports coming to a virtual stand still. More than 2300 Flight Cancellations yesterday. Another 1600 so far this morning. No bull about this. Professional bull riding, the world champion, j. B. Mauney is stopping by the studio before he begins his defense of his title tonight at Madison Square garden. 2013 proved to be a winning year for hollywood movies. Who was the top bull at the box office . All that and so much more coming up on this hour of markets now