Transcripts For FBC Varney Company 20140529

Lot of angle on this story coverage for you moments from now. Slightly better sales than abercrombie, investors like it. It is up 3 . Check the big picture, dow industrial average up 13, 16646. Getting a nice boost from disney which is that another new high. Actually down a little bit. 83 for disney, we will take it. Record territory once again for the s p, we are now well above 1900, 1913. Here is a key obama term. The yield on the 10 year treasury, this is all about Interest Rates. 433 . Look at this. Roll it, please. Stuart we had to roll that. We play it because now we have a year without an economy or at least Economic Growth. The weather going to get the blame for sure. An annual rate of 1 . Overall, the First Quarter historically severe Winter Weather which temporarily lowered growth. Charles i have the whole thing in front of me. They were higher taxes that crushed a whole lot of people. Obamacare did not help at all. You just did not read the whole thing, stuart. I wish i could be sarcastic about all of this. Listen. This is scary stuff. We do not know how much the polar vortex played a role in it. Pick any gdp number. Pick any of them. Pick any of them. 3 . What about 4 . Whats the excuse . You cannot wage a war against capitalism. Stuart you cannot wage a war on capitalism and succeed. Lawmakers on both sides of the audio. Step down or be fired by the president. This is all about veterans dying while waiting for care. Va officials testified on capitol hill last night. They could be at every va facility in the country. I do not think that they were secret. How did you not find them . I did find them, congressman. Maam. Maam. Maam. Veterans died. Get us the answers, please. As a veteran, as a that are, as a practitioner, how can you stand and look yourself in a mirror and shave and not throw up . We are deadly serious. You can expect us to be over your shoulder every single day. Stuart Monica Crowley joins us now. You said the irs scandal was the most dangerous in history. Do you think that this is worst worst . This is about neglect and fraud and negligence. It is outrageous. Like benghazi, like fast and furious, they have a body count now, unfortunately. Stuart a lot of people are saying just give veterans vouchers so they can use the private system. Just go do it. The president cannot allow that. That is the logical solution to this crisis. This president , this administration will never do it for the point that you just made. He cannot retrieve to that solution. That will offend what he just did. He is out there on one hand trying to make the argument. Your access will improve. Your cost will go down. We already know that to be false. He cannot back away from it. To him, obamacare, that to him is more important than fixing these veterans with their illnesses and giving them proper care. Stuart it is still run by the government. The people they suggested to replace the dr. That the down last week they are all part of the same problem. Stuart it is not their fault. It is the way it always is. I would not insult them of guilt. They are bureaucrats, but they know what they are doing. They know what their marketing theyre marketing orders are and they follow them through. Stuart thank you, monica. Good to see you. Food company tries to buy pinnacle. Then they try to buy those shyer. Just give me the stocks. Nicole i am totally kidding. That is the story. You have them all battling out. The latest here is that you do have tyson foods offering 6. 1 billion to buy hillshire. All of them have of arrows. It looks like they may be out in this field. Type it up 7 . Pinnacle foods up as well. Pretty exciting things. Stuart have my Grocery Store shelf that is a fact. Thank you. Apple buying beads for 3 billion. It is not about headphones. It is about the talent. We will be rapper dr. Dre and jimmy ive been. Jeremy kaplan joins us for more. Dr. Dre delivers cool. Jimmy delivers music. 3 billion, is that a good price on that . An awful lot of money. He said they will be profitable in 2015. They were selling for headphones a minute. You can expect this to be a profitable deal for apple off the bat. They are buying a Music Subscription Service. Not just a headphones service. They have maybe a quarter of a million subscribers. That is an interesting aspect as well here. Stuart i was probably wrong on this. Those headphones, i will not say whether they are Great Headphones or not Great Headphones, but people buy them and wear them. Apple has just bought cool. They have bought a trend. They have taught fashion. These guys complain about how much little they make from pandora. You can sell a million albums on pandora and get a check. Maybe they have this cool factor. Not just the general public, but the artist themselves. Maybe these guys become ambassadors for the entire community. Stuart if apple hasnt under their umbrella charles there are a lot of people under them already. How can you sell that product . Stuart you have three Companies Getting in. Google, apple who is the other one . [laughter] stuart there is two or three companies that are getting into absolutely amazon did that it peered everything. They totally dominate these days. Diversification. It makes a lot of sense. The whole world loves it. What do you do next . You know what i would like to see, i would like to see a Movie Service like the model of beats. It is a moderator. Stuart thank you, jeremy. The white house counting its energy policy. A report that highlights a point to increase in gdp. It will cost the economy 51 billion a year all the way through 2030. Kentucky, i know, very deep and then on call. If these regulations go through, what happens to kentucky . It is really alarming. We are very concerned about this. We are very concerned about what they will say on monday. They have to get this regulation out. 91 of the juice, electricity, generated from kentucky comes from coalfired plants. If you had new restrictions, make it much more expensive, i have to believe that the price of juice goes way up in kentucky. Amide over dramatizing this or what . You are not, stuart. What do you need for all those companies . You need electricity to make them work. The bigger concern is the fact that our cool goes to the southeastern part of the United States. In kentucky it survived the economic downturn. We are not going to hang onto them is our electricity rates necessarily skyrocket. Stuart i am out of time. Kentucky is a president state. Come again soon. After the break, chicagos mayor wants all gone purchases taped, videotaped within the city limits. What would judge napolitano think about that . Well, he is up. Are we still on for tomorrow . Tomorrow. Tomorrow is full of promise. We can come back tomorrrow. And we promise to keep it that way. Csx. How tomorrow moves. What a day. Cant wait til tomorrow. The numbers are impressive. Over 400,000 new private sector jobs. Making new york state number two in the nation in new private sector job creation. With 10 Regional Development strategies to fit your business needs. And now its even better because theyve introduced startup new york. With the state creating dozens of taxfree zones where businesses pay no taxes for ten years. Become the next business to discover the new new york. [ male announcer ] see if your business qualifies. But with less ergy, moodiness, to i had to do something. Ork. I saw mdoctor. A blood test showed it was low testosterone, not age. We talked about axiron the onlynderarm low t treaent hat can restore t vels to normal in about two weeks in most men. Axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. Women, especlly those who are or who may become pregnant, and children should avoidt where axirons applied as unexpected signs of puberty in children or changes in body hair or incased acne in women may occur. Report these symptoms to your doctor. Tell your doctorbout all medical conditions and medications. Serious side effects could include increased sk of prostate cancer, worsening prostate symptoms, decreased sperm count, ankle, feet or body swelling, enlarged or painful breasts, problems breathing while sleeping and blood clots in the legs. Common side effects include skin redness or irritation where applied, increased red blood cell count, common side effects include skin redness headache, diarrhea, vomiting, and increase in psa. Ask your doctor about axiron. Stuart it has been a dead flat week. The dow is up just 14. How about the price of gold. I will update myself here. We are at 1258. How about the price of oil. Up to 103 today. Costco. Disappointing profits. Cost on the upside. 114 per share. Serious about a stock. A stock i have never heard of. I presume that the viewer owns it. Charles i get a little frustrated. You take it from one country to the other. I have to tell you, last time they reported, they be the street. It was a penny, but it was a profit. I would suggest hanging onto the stock. Sixtythree shifts. Unionization is up 99 . I would hold the stock. Stuart what is the gentlemans name . Thank you for bringing that to our attention. Google has disclosed its employee diversity or lack thereof within the company. I have a breakdown for you. In terms of racial diversity, the company has 61 white, 30 asian, 3 hispanic and 2 black. Should the government encourage more diversity . Should the government insists on more diversity . A few questions for you. I would add to that list. Why are we talking about it . Google is so huge and so universal. Yes, the government does encourage diversity. It encourages it. It does not compel him. The greatest return a can for its investors. Stuart okay. Lets move on. Chicagos mayor, rob emanuel wants all gun sales within city limits to be videotaped. I find that very interesting. The city of chicago has a track record. Doing everything it can to frustrate law abiding citizens to exercise their right to bear arms. Mcdonald versus chicago. An army veteran it out right banned the possession of weapons even in the privacy of your own home. Chicago lost bigtime. Let me ask you this, the second amendment, the right to keep and bear arms. It is a fundamental liberty. The court says that. Do we have cameras watching us will we do all of those things . They have no business putting a camera and a gun store. Stuart would you go in the other direction and relax some of the restrictions on gun ownership in chicago as a way of combating. Would you do that . I am of the view, where there are more guns there is less crime. The people in chicago are on the opposite view. The police are there to protect everybody. They are wrong. A company in this proposal by mayor emanuel about the cameras in the gun stores it would prohibit gun Stores Within 1000 feet of a Public School or a public park. That excludes the store from the city of chicago. We will watch to see what you do. I do not think you will get away with it. These rules are just proposals now. Stuart judge napolitano joining us this morning from the nations capital. They love me here, stuart. [laughter] stuart thank you very much, judge. Always a pleasure. Stuart a 15yearold that one money for his Cancer Detection software. Bernie viewer is very impressed with him on facebook. We will tell you about it in a minute. [ the human leagues human plays ] humans. Sometimes life trips us up. Sometimes we trip ourselves up. And although the mistakes may seem to just keep coming at you. So do the solutions. Like multipolicy discounts from Liberty Mutual insurance. Save up to 10 just for combining your auto and home insurance. Call Liberty Mutual insurance at. To speak with an Insurance Expert and ask about all the personalized savings available for when you get married, move into a new house, or add a car to your policy. Personalized coverage and savings all the things humans need to make our world a little less imperfect. Call. And ask about all the ways you could save. Liberty Mutual Insurance. Responsibility. Whats your policy . Basically like an algorithm that can sort of customize it self. Teach computers how to predict when the mutation you feed and will likely cause cancer or not. Stuart that was the explanation of his scientific achievement. Here is what you have to say about that young man. The company that uses his idea will make trillions and he gets 75,000. He should have gotten a patent on it. He probably wells. It sounds like he has his head on straight. Yes, he does. That is what wall street and we the people should be focused on paired those that can create a better future. Thanks to everybody for your comments. We love hearing stories of young people making a difference. Like nathan. Keep them coming. Jd. Com. The stock is up. Netflix becomes the exclusive home of all new seasons of the dreamworks series based on the popular franchise how to train your dragon. Then we have this. Ukrainian reporter has been arrested for allegedly jumping over the barrier at a red carpet movie premiere and rushing apparat hit hitting him in the face. He dove under the skirt of another actress. Last year he was arrested for crashing a stage. 2012, he was smacked in the face by actor will smith for trying to kiss him. What i do not understand is how this guy still walks free. Charles he is doing a prank. How do you punch someone . Stuart put him in prison. Hard life for a decade. Charles he is a ukrainian tv personality. Stuart everything is okay. [laughter] stuart get out of here. The u. S. Open. Tiger woods out. He has a back injury. Requires surgery. When tiger does not play, fans do not watch. Their ratings for the masters were the lowest because he did not play. An iconic brand. Well, we have the latest. Right here. Right outside the studios. Right in new york city. Do you think i would fork over 100 grand for that . The president of the company is trying to sell it to me. After this. You can tell your son that it has its own satellite. It launched last february. Oh, man. Does it have a deep fryer . It has four. Stuart ladies and gentlemen, right behind us you can see an american icon. This is a winnebago. They will try to sell me the latest model of what looks like a 1972 rv. It does look like a 1972 rv. Deliver it we worked very hard at that. Winnebago is the only industry that is an icon in the industry. No one else in the business can pull off Something Like this. We worked very hard. Stuart why would you do that . Why would you deliberately look like 1972 . We have a camera inside the winnebago. How much . 90,000. We will have two floorplans in this particular one. Stuart airconditioning . Absolutely. Stuart satellitetv . Yes. Stuart internet. Probably through a portable device. Stuart gas mileage. Eight10 miles. Stuart oh. Premium or regular. Regular i believe this will sleep eight. Stuart do you really think you can sell a guy with an accent like this and all american iconic vehicle . There is no better way. Stuart how many did you sell in england. There are a lot of rvs sold in england. Stuart have you seen the roads in england . Sales over the past year of winnebagos up . Up. The market is recovering. We believe the recovery is fully in process. Stuart sales of winnebagos overseas . There really is not a market. It is hard to be competitive. Stuart i just gave you an extraordinary commercial. What kind of a discount will you offer me . Well, lets talk about that later. I am sure we could do something. There is a little wiggle room. Yeah. Stuart it is iconic. I do not know if i can get over the 1972 look. You would feel cool. You would have people flashing peace signs to you. If this doesnt work for you, we have a lot of others. We have a motorhome for everybody. The iconic 1972 winnebago. Not sure if i will buy it immediately, but i will listen to what discounts he will offer me. Did you know the iranians are hacking us . They are. We will deal with it after this. Were moving our compy to new york state. The numbers are impressive. Over 400,000 new private sector jobs. Making new york state number two in the nation in new private sector job creation. With 10 Regional Development strategies to fit your business needs. And now its even better because theyve introduced startup new york. With the state creating dozens of taxfree zones where businesses pay no taxes for ten years. Become the next business to discover the new new york. [ male announcer ] see if your business qualifies. Representatives from eight states including california and new york are expected to roll out a plan today that is aimed at the sales of more than 3. 20 emission cars by the year 2025. Right now there are only about 20,000 emission cars in the u. S. President obama expected to unveil a new climate change. The heart of the General Motors massive recall. A dependent if gm engineer that worked on the switch told congressional investigators that he had forgotten to order a change to the part when he testified last year. The engineer did not say anything that the gm ceo knew anything about the faulty switch before she took the job. [ female announcer ] who are we . We are thinkers. The job jugglers. The up allnhts. And the ones who turn ideas into action. 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. 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Call 18886287118 to learn more. Tdd 18003452550 so you can take charge of your trading. Stuart if you have been following twitter, you know that stock has been beaten down. Now one firm says by it. Nicole you have one firm today, Cantor Fitzgerald raising it from a buy to a hold. They actually say a few things here. They think they will be generating meaningful terms. Those loose shares are pretty much done. Secret at budget for twitter. The interest from abroad is growing as well. Really a couple of great days for twitter. You can see it today. Stuart robin. Give us more. All new phones. We are talking about 50 million new phones. Like i said, 50 million a big number. Just a couple months ago, google added bloomberg data to its maps app. We see this all coming together. Stuart that is another reason why uber has gone from 10 billion to 17 billion a couple of weeks. Stuart i know. Evaluation is about the same. Stuart thank you. Charles says he will make us some money. Here is a company i know about. Priceline. What . Charles it went to the moon and got hammered. Late last week it broke the news. That is my initial target. A very quiet market. A very nice rebound. Including some of their more, you know, notable names like priceline. Stuart a new elaborate hacking scheme. Iranian hackers created a Fake News Agency use facebook and linkedin profiles. We are joined by ice by senior vice president. I am not sure exactly how they did it. Can you give me 32nd on how they did it and why . Sure. A number of others. Rather than going directly to the value target, they went looking for their friends and family. Connecting with their network. They gained credibility to then gain access and connect with the highvalue targets. Stuart was it a successful penetration . Did they get through . Stuart we believe that they have. They were also successful in having a set of login credentials. We believe a strategic advantage. Stuart it sounds like it was a relative is was it relatively easy . It was very lowtech in terms of sophistication. We do believe it is one of the most elaborate campaigns we have ever seen of any espionage activity today. Stuart what about the penetration of the military sites . What was the name of that . That is far more sophisticated. The malware was pretty low sophistication. This proved that a symmetrix are also extremely successful. Stuart you uncovered this . We did. Going out and looking for cyber threat intelligence. Stuart are you employed by corporations or governments or both . Both. There are a number of steps that companies and agencies can take. Traditional Security Defenses cannot force social engineering attacks in many cases. The people really need to be aware and on the lookout. Stuart having uncovered it, can you go back . You know who did it. Can you alert the right people who can go after them . Absolutely. I think in this case we have. Stuart excellent. Thank you very much for joining us. Stuart i have a headline for you. This year is the worst year ever to graduate college. Debt and no jobs. We discussed after this. [ male announcer ] if you suffer from a dry mouth then youll know how uncomfortable it can be. [ crickets chirping ] but did you know that the lack of saliva can also lead to tooth decay and bad breath . [ exhales deeply ] [ male announcer ] well there is bioten specially formulated with moisturizers and lubricants, biotene can provide soothing relief and it helps keep your mouth healthy, too. [ applause ] biotene for people who suffer from dry mouth. Biotene can you start tomorrow . Yes sir. Alright. Lets share the news tomorrow. Today we failrly busy. Tomorrow were booked solid. We close on the house tomorrow. I want one of these opened up. Because tomorow we go live. Its a day full of promise. And often, that day arrives by train. Big day today . Even bigger one tomorrow. When csx trains move forward, so does the rest of the economy. Csx. How tomorrow moves. Stuart c kirk joins us now. The worst year for college graduates. Welcome back. I turned 20 a couple moments ago. I made a choice for myself. Stuart smart guy. Why is it the worst year to graduate . I think it is really simple. We are seeing a lot of these Government Policies come into place. It is important to know, i will argue that 2014 is the worst year for persons to graduate. We are seeing each mirror consecutively continue to punish young people like myself that are trying to graduate, trying to get into the workplace. Stuart i do not think young graduates see it like that. What they see is put some pressure on the administration. Spend some more money on infrastructure to create government jobs. That is the way young people see it. I regret to say that. You are not typical of your generation. Well, thank you. A lot of these young people have bought into a philosophy, more success will come forth. This year especially we have an opportunity to make a case to a Younger Generation that is experiencing pain. Whether it is obamacare or lower job opportunities, they are coming into november. There is a opportunity for younger people to seek redemption. Within those 53 , i guarantee a lot of them voted for this president. A young person voting for obama is a chicken voting for sanders. Stuart charles. Charles it may be the worst year to graduate, but i also think it is the worst year to not graduate. Not having serious skills, whether knowing how to do things in manufacturing that take extra education, you will be lost out there. Precisely. I agree with you charles. A lot of the young people that are graduating are graduating with a degree that has no relevance in the job market. They are educating themselves or they are graduating with a degree in law or they are becoming a doctor. That is great. A lot of young people are studying things that do not matter. Stuart i know you have no student debt. A lot of your peers to have student debt could do they regret taking on all of the debt . Do they think that college for them was a good deal . That is a great question. Over 70 of young people regretted the amount of student debt they have. The question is when will we start seeing a generation . I agree with you completely. Stuart just turned 20, i believe. Smart guy. Thank you very much, indeed. Tiger woods is out of the u. S. Open. Because of that, the ratings were way down. The president of the pga of america. Yoga vilified because the left hates genetically modified food. John stossel will started out for us. The second hour is two minutes away. Stuart french time for this presidency and we are on it. Five years in the economy is shrinking. Five years in Government Run Health Care is a mess and it is getting worse. Five years in president obama tells young soldiers at west point get out there and fight climate change. Hello, everyone. Headlines for you worse than expected. The economy is shrinking. You cannot blame it all on the weather. Tiger woods will miss the u. S. Open. Michelle wie makes a come back. We discuss the ratings impact on both. Genetically modified food helps feed 1 billion people, left hates it, john stossel loves it, he is here. Millennials rule, there are more 22yearold class in America Today than any other age group. If they vote they hold the key to the election but what do they know about taxes . We will ask. To the big board, another day of a dead flat, very light trading, the dow was up 16. Record territory once again for the s p 500, 19. 13 is the counts. Apple new 52 week high earlier today, still up 4 points at 6. 28 buying beets for 3 billion. Investors taking a break from serious moves up or down on the yield on the ten year treasury. That is the Interest Rate barometer but look at that. 2. 24 . What does that tell you about the economy. Gold moving lower, we are at a 15 month low, 12. 56. The economy is contracting at a 1 pace annually. The white house blames the weather. More from the cme in a couple minutes. Lets go to nicole for a look at abercrombie. Why is that a big winner today . Nicole not as bad as it could have been. Not as bad as its competitors like American Eagle outfitters and aerospatiale. Abercrombie and fitch has managed to retain some of those teenagers and expanded what it puts out including larger sizes, that was part of a pr nightmare for the womens brand in particular and you are seeing some good numbers here, sales were down. Not as much as the competitors, a 5 . Don stuart teenagers fickle . No way, come on. Use said enough. Millennials taking over. According to the Census Bureau there are more 22yearolds in americas and any other age. More 22yearolds than 23yearolds, you get the point. Political prospect editor, editorinchief, is that right . Editorinchief got a promotion from last time we saw you. Oh oh. I have always been editor in chief. You are a millennial. What do you make of it . More 22yearolds than any other age. Did know that. Will only get greater. By 2020, 1third of the Adult Population will be millennial. By 202575 of the work force, this is an increasing trend, it matters a lot of editorially, not as tremendously. Stuart what do these youngsters like you, even though you are editorinchief, what do you know about paying taxes . I am being facetious and away but youngsters float but most of them are sure the not paying federal income tax. I see a disturbing trend among millennials. I think they are hard workers, tremendous respect for my colleagues that there is this prevalent occupy wall street attitude that i see lurking among millennials, anti business attitude, anti profit attitude, came out of the Brookings Institute study, two thirds of millennial stink businesses have too much profit, writing number, 84 think businesses have too much power, a disturbing trend the frames me. Stuart i did feel like that when i was that age. The egalitarian of use, put it like that. It dissipates with time. It matters a lot electorally. Interesting, 2012 was the first year in millenial age cohort became the predominant age outweighing baby boomers, 21 years of age was majority age in the United States and happens to be the first year the baby boomers were on the wrong side of that election, First Time Since 1976 baby boom is voting for the losing candidate. Millennial by 23 points voted for obama. Stuart as we were talking with charlie kirk freshen to the year of 20 years old as the points out this is a rotten year to graduate. Student debt, no jobs, week economy. Doesnt that affect the way millennials going to vote . It certainly does. It can. It is not certain but it can. Millennials are not seen on party affiliation. They will transition parties but it takes effort on the part of republicans and i have not seen that except in rand paul. Time for capitalizing on this. Like Ronald Reagan said this is a rare moment with the generation is ready to say enough. Millennial are ready to say enough but will conservatives capitalize . I am not sure. Don you graduated. Two more to go. Two more to go. Stuart you are editorinchief of political prospects . We occasionally have a democrat that will venture in the right but it is rare. Don that is interesting. Stuart youll stay with us for the entire hour. I am. Stuart we will get to you momentarily. Fax back to the big story of the day, the economy. It contracted at an annual rate of the 1 present the first week in months of this year, the white house blames the weather. Take a book. Whenever i touch turns to snow in my clutch. I have too much. Stuart that was not the white house putting that out, it was a popular christmas cartoon a year without a santa claus. We play it because we had a year without any economy or a least a year without Economic Growth. That polar for text gets the blame. Scott kennedy, most sternly does not blame the weather. What do you blame for 1 annualized rate of contraction . They will blame the weather so i think washington turn most economists in the u. S. Into meteorologist. They are no longer doing the economy. They are doing the weather but here are the facts. We are not making it. I blame this on the government and tax reform, regulatory reform, february of 2010 we have been averaging 172,000 jobs a month but since the of the night exact same period of time we are averaging 135,000 people falling out of the payroll due to the nonparticipation rate. We are not adding any new workers so we cannot at not making anything new. Go back four years and guests where the fed thought we would be as far as the growth rate today. Gunz year ago the fed thought we would be raising rates. West case than we were back then and it wont get better anytime soon. Stuart is that why that yield on the ten year treasury, we followed it closely. This morning is down to 2. 42 . Not a big drop from yesterday or the day before but historically that is a very low rate. Is that telling us the economy wont improve that much for the rest of the year . Absolutely right and i will set on the show right now. Is going 2. 25 and maybe 2. 15. If you are dutch like i am, there are 500 year historic lows in their Interest Rates so we have something happening globally which is due to Central Bank Intervention depressing volume and volatility and that is why we cant get out of the doldrums. We are in more trouble, have more on the horizon and it wont any time soon. Stuart what you are describing is the exact opposite of what was supposed to happen. Central banks were supposed to print up a storm. That would give us growth, eventually more inflation and higher Interest Rates and the exact opposite has happened dollar around the world. I cant explain it. One other big worry they are not talking about very often because they dont have a solution for it, it is called deflationary. For every book written about deflation there are 25 written on inflation and we have proven we cant inflate our way out of this problem. If we go to the deflationary cycle which is mostly psychological they are in big trouble and that is what the worry is, that is why the rate is going down. Stuart all right, thanks for joining us. I am sure we will see you again soon. Thank you. Apple buying beets electronics is the full name. If theyre buying fresco 3 million. Jerry mcafee and says it is not about a head phones, it is all about the streaming service and its two cofounders, doctor dray and music producer jimmy ivy bringing it to the table. Listen to jeremy. This how theyre bringing in and the service. The first line of the press release that we are buying Music Subscription Service. Not just a head phone company. This is a Music Subscription Service the public doesnt want. We have a quarter million subscribers versus 10 million on spotify. That is interesting. Stuart a share price of apple up 5 an hour at 6. 29. Earlier it hit a 52 week high. Why is it all about jimmy ivey, why is he an important part of this deal . He is a musical legend. You probably know him from american idol. He is 61 but so cool, he brought lady gaga to his record label, he is cool. He was friends with steve jobs, he knows what hes doing and he has these great relationships with record labels and they are frustrated with apple right now. He has these relationships. Stuart he brings a lot of deals. Stuart bring that music to apple, the streaming service, is that what he does . And he will help with the streaming which is what jeremy was talking about. Apple has streaming, itunes radio, not that popular especially compared to the 10 million paying subscribers spotify has but his music is pretty successful, working between getting the audience and getting the talent. Stuart we often say this apple today is not the apple of steve jobs. Steve jobs would not have made this deal. From a Young Persons perspective this is a great move. Young people love pandora, seems like a great forward thinking move. I wish the republican pake a no. Stuart when you like pandora because it is a streaming service, apple is buying beets which as a streaming service. Doctor dray, it is a change in leadership, tim cook is not and should not be steve jobs and that is what he is telling us right now. Doesnt have the ego, the micromanaging, the focus that steve jobs had. He is giving money to shareholders, he is saying you are smart, come on the team, hes reaching out to successful and smart people to come on his team to reinvigorate apple and make it cool again. Stuart when the deal was initially announced most people thought was a rotten deal, didnt like the deal at all. Now is almost formalized, it will close later on this year and the stock has gone to 6. 29, i think the judgment now is apple is buying cool and buying doctor dray. Buying it. Stocks of. What can i say . Later this hour the ceo of the tune in, and Music Streaming Service, will be on the show later this hour, 12 45 eastern. The liberals love to go after genetically modified food. Some of the state is like poison, but what those people dont know, without gm food many in the world will start. On sauce liz next. Worse than previously estimated. 95 of all americans will be addressed overweight or obese in two decades. 95 of us . Stuart the 1980s childrens tv show reading rainbow making a come back thanks to a crowd Funding Campaign launched by its host, give us the details. Love barberton of star trek fame, this show is so popular, 1983 to 2009 ended abruptly ended because there was a problem getting kids to read. Used to be in the 80s get an interesting reason and by 2009 you had to teach the kids to read. They dont know how to read. Literacy is the main problem. What we are seeing is on a Kick Starter Campaign crowd funding, realizing education is a for profit business and this campaign is looking to raise 1 million which they have done to get these apps and web tools and online programs in the hands of kids so kids will get interested in reading once again. Here is the criticism. Lowincome children dont have access to all these tools that reading rainbow will be on. Stuart hold on a second. Cayley, you are a millennial. Have you ever heard of reading rainbow . I think it is archaic. It is not wisest bring it back, we have a new generation, it is out of date. Stuart i am with you on this one. I am totally geriatric and never heard of reading rainbow in my life. I added growing up, didnt like it then and dont like it now. Stuart honest opinion. Stossel could learn something from this. Is she is a millennial. We are geriatric. John she talks astors and i do. Stuart when you are older than me. Listen to this, much of the food we eat today has been genetically modified but the left dont like this gm stuff. They are not happy with any of our eating habits so why are genetically modified foods being vilified . John stossel is with us and he has an answer. They are being vilified. Genetically modified foods in europe are anathema and the left hates them here. What is going on . John it is new, it is not natural. The food we eat now is natural. It has all been created through crops breeding, corn used to be tiny pieces. This is just more precise but it is gene modification and if you are scientifically ignorant that scares you, same reason we dont have food radiation which would save thousands of lives. Stuart if you got rid of genetically modified foods people would starve elsewhere in the world. John they would because you could grow on less land, grow more of it so you did with the insecticide in the foods so you dont spray as many pesticides, it is one of the reasons people are starving. Stuart the Biggest Company six other Companies Involved too. A patent this seed, they dont like that. We can show our food and the wind blows it will blow it to the organic crowd. No crop is lost, it is organic certification because of some cross it probably will but so what . You think a french food lis natural . Most of what we deal with in life has been monkeyed with by people. Stuart what is this about yogurt, it used to be sold in Walmart Stores i think and walmart i am i am wrong. Cold foods has to get rid of it because of some association with genetically modified foods. John whole foods chooses to get rid of it because it got so popular that they couldnt get enough milk, and it didnt come from g m o fed cows. And whole foods is saying we wont carry it anymore and that is fine, good way to handle these things. John mackey says i will not eat ascension creature. That is his choice, let him do it but dont deprive the rest of us. Stuart you are in favor of giving us the choice of genetically modified foods. John in poor countries it would end blindness among children who are not getting enough vitamin d, it would be wonderful. Stuart there would have to be a label that says in the food chain we have association with gm foods. John only if theyre forced to. They wanted to be forced on the label, the fda and some somewhat responsible science is saying we wont put it on because it falsely scares people. Stuart candy is with us, she is young, she is a millennial. Totally on board with john. I saw on your program that in 18 years since gms were created begins in 7 trillion meals and not one instance of sickness caused by gm 0s. Is a fantastic idea that helps the less fortunate. It would bring down the price of food. John the data on the show like that. Nobody even knows what that means. Stuart 20 somethings are essentially millennials. You will learn about this. John who can keep up. Stuart what time is your show on tonight . John 9 00 you can see the whole show. Stuart such a good judgment. What is the name of the show . Stossel. Stuart we will be watching tonight. Our millenial friends will be boosting ratings. The the a scandal political theater, my take on this is next. Understand the i did the serious. You can expect us to be over your shoulder every single day. Capitato make it happen . That makes it real . Whats a vision without the expertise to execute it. And the financing to make it grow . Whatever your goal, it can change more than your business. Whatever your goal, it can change e future. Thats wh at barclays, our ambition is to alys realize yours. Stuart what apple go. The 52 week high, buying beets for 300 million. Investors seem to like it. Apple goes up 630 per share. Here is what we have got later this hour. The ceo of tune in, and Music Streaming Service is going to weigh in on the apple beats deal. Tiger woods not playing the u. S. Open this year. Will people still watch . The president of pga america is here. Here comes michelle wie rising up the ranks again. We have the lpga commissioner coming up in a couple minutes for you. Did you see the congressional hearings on the va scandal . Senior officials from the Veterans Health administration faced congress. Here is my take. Talk about political theater. It was a golden opportunity for politicians to get on television and play the good guys demanding answers, demanding the truth. It looks good for the folks back home, it is an Election Year and that is exactly what happened. But va guys never had a chance. Is tough to defend a massive bureaucracy that lets veterans die from lack of care. They were roundly abused by the politicians and were publicly shame to. No wonder people like turning off politics, politicians and all government all the time. The president tells us politicians can write legislation that puts the government in charge of your health care and tells us we will save money and get better care. Look what we have got. Politicians, Speaker Nancy Pelosi tells us we have to pass term monstrosity of a bill before we can find out what is in it and now she says she wanted a full government controlled system along. Liquid government has done to the veterans, health insurance, the expense and quality of care and dramatic air. Is anybody surprised . Did we expect her to shape an efficient Healthcare System . Do we expect bureaucrats to deliver quality care . Of course we dont end now we are in this mess and all we get is political theater. Politicians grandstanding for the calendar, bureaucrats doing that called thes for their inevitable failure . There i say it . Look across the pond and a learn, look at europe and learn what not to do. Get government out. But the market in. Can you start tomorrow . Yes sir. Alright. Lets share the news tomorrow. Today we failrly busy. Tomorrow were booked solid. We close on the house tomorrow. I want one of these opened up. Because tomorow we go live. Its a day full of promise. And often, that day arrives by train. Big day today . Even bigger one tomorrow. When csx trains move forward, so does the rest of the economy. Csx. How tomorrow moves. We are thinkers. The job jugglers. The up allnhts. And the ones who turn ideas into action. 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. And were here to help start yours. Became big business overnight . Like, really big. Then expanded . Or their new product tanked . Or not . 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Nicole again and again and again we are seeing disney break its own barriers up through the resistance level making a whole new highs again, 84 09 was the high that disney hit, record all time high, we talked about frozen being the no. One animated grossing film of all time. Is in the top 5 of all films put together so that, the highest grossing film globally competing against other films. Is Pretty Amazing to see how well, this is up 9 this year so clearly outpacing some of its peers in the major averages as well. Stuart they did put the prices up again into the disney theme parks. I think they did. Bear that in mind. Let me explain my position, i am an avid golf fan. We are two weeks away from the u. S. Open and we have with us pga of america ceo, lpga commissioner mike wan and global chairman, tiger woods is not playing, last time he didnt play in the masters, ratings weighed down. Everybody wants tiger woods back in the game, tiger is one of the great superstars, and playing an event, on the key g8 to more or majors in is good for golf. Stuart i am an avid fan, i will be watching tiger woods or not. How do you explain the ratings decline, it is not just tiger. Stuart we talked to our good friends, statistics are showing the aggregate number of viewers are at pace to exceed what they were last year. And when you look at golf channel, nbc and cbs more viewers are watching golf and we hope that will be a trend, and lpga, michelle wie, she is coming on strong again. She came back down badly and she is really doing well. That is good for ratings. Thinking about your tiger woods question. Dont know how good our ratings would be. He does bring the rest of golf in general and helps the lpga, ratings are up over the last two years. Has been a resurgence. And the resurgence of the american golfer on full, stacey louis or michelle wie, lackey thompson, the list of young athletes. And for all of us we have known her for a decade. And brought us to talk about a new announcement on the lpga and putting together a partnership and a new major. Stuart remember people like me. I dont play and yet i love the game, and i love to watch it because i associate the personalities involved. I associate with Phil Mickelson. He wears your hat and every time he is on camera, look at that. Kevin knows how much to play the guy. It is personality. Fantastic relationship, not just oddballs on his hat it is what phil does to soften the course and deepen relationships with Senior Executives and trying to build relationships and run great events over the course of the year, he has been a huge hit for us which is why we expanded that. Stuart i just got it. Kp n g, you like to talk to ceos and talk on golf courses so you are the partner with the lpga and the pga and you are doing it because you love the association with the top guys at companies. Phil mickelson wearing your hat. It is all tied together in a nice way. Our clients are golf fans, golf players, men and women. To build and expand those relationships for people they do business with. We hope we have relationships with golfers on the tour is. Stuart what me get this right. The u. S. Open finishes on sunday june 15th. Is that correct . Father is a. Stuart i can start walking on thursday on the golf channel and follow through to a network for saturday and sunday. That is right. The womens open place to get right on watching. Stuart when you have to get it in. I was coming to you, the lpga, the championship. The usga hosts the stages u. S. Open and womens u. S. Open. In different weeks on different golf courses this is the first time we play backtoback weeks on the same golf course. If you think about it, bubba watson, Phil Mickelson on thursday and the following first a michelle wie and stacey lewis repeated the same first hole stuart when you would give your right arm for michelle wie to win. I stopped guessing on who was going to win. We had mike c. Thompson, Young American when her first major, stacey lewis has not finished outside the top10 ended feels like a yearandahalf. Stuart how it hold is like the . 20. Stuart reminds me of speed. Very similar. Stuart and you love to see Phil Mickelson when the u. S. Open. It is a law, isnt it . Stuart when you are not allowed to say who you think is going to win. You are not allowed to say that. Little impartial. Stuart i think speed is going to win. He would be wonderful for ratings, a young guy up on cover, people will say he is the next superstar. With me on this . Almost did it at the masters. He did it at the players championship. Stuart i thought last day of the masters, you guys were walking, one of the best last days of the masters i can possibly remember. When bubba won it he was walking down with the crowd with his son in his arm and doing a high fives all the way down the crowd. I didnt quite have tears in my eyes but i was pretty close. For a non golfer that is not bad. You need to come to our event next year and see the greatest golf at westchester country club. We are excited about this partnership and we think it will add to the great history of golf. Stuart a Great Partnership going here. Thank you for joining us. I will be an avid viewer for the rest of my life. Thank you. Two topics for your next. Avalanche its newly minted 3 billion man, a possible steve jobs replacement, he asks. We cant forget the dismal gdp report. The economy in retreat, the year without an economy or Economic Growth but can we really blame it all on the weather . First quarter growth turned negative in the first two month of this year the economy shrank at an annual rate of 1 and that is the first negative reading in three years and the number of americans filing new claims for Unemployment Benefits fell more than expected and initial jobless claims fell 27,000 a seasonally adjusted 300,000. Getting ready for an extra 2 million a year, hit one childs policy, the official health establish Running Commission says authorities asked global officials have more Health Care Facilities for women and children. The government report says a small increase in the number of babies born last year, increasing 4700 was actually the first in development. Here is right there. That time report is next. Stuart is that time we bring you of a real Halftime Report and we start with apple buying beets for 3 million. The stock hit a 52 week high earlier. In mountainview california, the ceo of the streaming company tune in. This apple buying beets have a lot to do with the fact that beats just started streaming operation of its own . Absolutely. If you look at what all the major platform players are starting to do, putting together the different types that people want to listen to so is not just being able to download tracks or stream tracks but the combination of all those things for your mobile device. People want a collection of the mall. Stuart i got that. You run tune in. You got 50 million users, regular users per month. Is that true . Absolutely. It is a surprise but Music Services are growing quite large. If you think about people listening to things like radio or cd players and there are 20 years ago all of that is transitioning on line and for us we still think we are quite small. We are 1 of the planet, 90 of the planet listening to radio every week. It is just beginning. Stuart is it free . Yes. Stuart how do you make your money . For revenue and we share that. Stuart fox news radio does have a relationship with tune in. Is that correct . You can listen to fox news radio on to an inn along with other Television Channels as well and in total over 100,000 stations from around the world. Stuart trying to get the scale, get to grips with the scale and streaming business and i appreciate that. Will on for a second. Stay with apple, bring in ed butowksi. 630 a share bearing in mind beats acquisition are you buying the stock . It is such a small dollar amount relative to how much past they had an apple. What i be buying apple led this point . Im not a buyer of apple, im going to buy some beats, or have any of those but im not buying it for that reason. Stuart the economy contracted at an annual rate, the white house is blaming the weather. What about you . There is absolute nonsense. They take responsibility for their own policies. These policies they have in place, the the whole country should be up in arms as a result of this contraction. We should be growing at 4 the year. We are nowhere close to that. Policies are not working. We needed to take enough tax revenue to take care of the spending we are doing. The contraction is a disaster for this country. I cant overstate it enough. Stuart our president millennial is with us, cayley, First Quarter contraction of the economy. We have a president who is not engaging in progrowth policies in any way, shape or form and if youre wise to take a cue from his predecessor, pre predecessor Ronald Reagan who had Economic Growth, greatest peacetime economic boom in history. Instead he is studying keynesian policies. Stuart when you were not alive when Ronald Reagan, you weren bs doing what he is doing. I wasnt but i study his legacy and i am a believer in that. Stuart well said. Millennials about half their money in cash and only a quarter of their money in stocks. Millennials have a little money to invest. I guess they dont think much of the economy. They dont and this is a tweet 2pronged reason why. On one hand you have this fear, this great recession, millennial are reluctant to stop but it is deeper than that. They resented the quality and what big banks represent and what your least Favorite Brands . Four were the biggest most powerful banks, citigroup, bank of america, millennials dont trust banks and you see that in polls. One last data, 71 of millennials would rather go to the dentist than hear what a bank has to say. Stuart kind of a bogus survey but id take the point on that one. Bear in mind what keeley said. A lot of young people and missing a big opportunity. You put your money in stocks in your 20s, through some retirement fund, you get a lot of money back 40 years hence. I will give you a great stats. If you are long term or moderate risk taker you should have literally this is what Jeremy Siegel did, i was blown away by it, you should have 120 of your money invested in equities. If your invested longer than ten years, looked at the regression analysis and study this very snow other place you should have your money but in ownership and those early years are the most crucial years so they are screwing up the rest of their lives if they dont get invested right away. Stuart a personal story, back in the early 1980s when i r as came in i put money into an i r a and i left it there and it was a broad based mutualfund and i never touched it and 30 years later believe me, the value of compounding over a 30 year period is fantastic. That is the lesson of warren buffet. If you study his numbers they are not great. The genius of Warren Buffett is he is an old guy who was invested for very long period of time. That is the beauty of compound in exactly what you said. I will millennials watch me say this because 52 of millennials have all their savings in cash compared your generation which was 23 . Is wise to look beyond cash and a mattress. Stuart we should say not everybody has got cash to spare to put into an ira and leave it there for 30 years. You got to understand that. You are weighed down with student debt that you have a house and mortgage and want to start a family. Obviously it is a small minority of people that can put that money aside. I got to say to both of you if you are working for a corporation and they offer a 401 k and you are in your 20s you got to get into it. My first job 401 k , i invested in that. Is a wise choice and any millennial doesnt is not looking to the future. Of the one last word to you. The pain you feel today by putting the money away you dont have will pale in comparison to the pena will feel when you are older and dont have money to live off of. Stuart wells said in the. We appreciate you being with us on the real Halftime Report. The popular Reality Tv Show extreme makeover home edition didnt turn out too well for one texas family. The full story is coming up next. 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The show has a great hard but we have seen time and time again with extreme makeover houses, the value goes up, 700,000, 800,000 and a family can afford the new tax bill and the upkeep and this happened to the beach family. They realize after a lot of painstaking decisions, and they couldnt pay this, they had no takers, the house is too big. Too big. What you were saying is the tax burden, 1,500 a month in the current property tax burden. I dont have the figures but it was a few hundred dollars. The same piece of land but when you devalue of the home, have to reassess the property that is when you see the tax burden go high and that is what theyre sitting at. They built in a mansion. We did veterans, four bathrooms, game room, media room, this was on abc but at the end of the day this happened with six different families and the beach family, the show produced part in the right place, the upkeep of the land, an acre of land, they cant afford it. Stuart good story. It is all little said. Sorry, not very positive. Stuart we will see you tomorrow. More varney and company and fro for cayley next. Actually, we do not sell many winnebago products in england. Stuart have you seen the roads in england . [laughter] stuart okay. That was from my statement earlier with the ceo of winnebago. The natural look. You are the editor and chief of political prospect. What is that . They can come together. Stuart you created this . I did. Stuart great having you on the show today. Now, Deirdre Bolton next. Deirdre thank you very much, two words. I am risk and reward. Apple pay it biggest ticket ever. The strategies. More on what it means for investors. You can pay your satellite tv bill with bitcoins if you like. The network is the Largest Company to accept virtual payment. Cloud funding in the air. Peer to peer being. We will tell you what is in it for you if you would like to participate