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tv   MONEY With Melissa Francis  FOX Business  May 8, 2014 2:00pm-3:01pm EDT

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like it, and face it take the footage and make a great episode of cops, wouldn't isn't. >> ashley thinking like a tv producer, ashley webster joining me there with alt abroad headlines. as we mentioned it is travel day here on fox business. one of france's's guested in the next hour, ceo of travel zoo. looking forward to that conversation. melissa: we have a lot going on, thank you so much. angry fast-food work remembers demanding $15 an hour as the minimum wage movement goes global. rising rates and increased demand forcing homebuyers to bust out the checkbook to land a new home. they're paying cash. think you know alibaba? think again. the china's e-commerce giant is set to be the biggest tech ipo ever. it rakes in more sales than ebay and amazon combined but what it is selling that is raising eyebrows, whoa, raising eyebrows at least. even when they say it's not, it is always about money.
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melissa: money seeing a lot of green out there today. we're off session highs. but the dow still on track for a record close. let's bring in fox business's own charlie gasparino and tom sullivan. we have "wall street journal's" veronica daguerre. what do you think of this market, tom? >> dollar is going lower, the market going higher, the fed says they win keel doing the same. what do you expect? no place to go. >> you don't fight the fed. i'm telling people a long time. i hate all the printing of money. here is the thing where it becomes problematic. at some point it is going to end. when you have interest rates this low, people go out on the risk spectrum and buy stupid stuff or alibaba ipo or twitter at 60 bucks. that's what happens. you will get pull backs and when
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they stop tapering -- melissa: i guess. what is tragic about this, the markets, everything we've been through the since the financial crisis, some indices up 120%, 175%, depending where you're looking in the market. housing is up, 10 or 11%. for the average person that got scared of market during the downturn they missed this creation of wealth totally created by policies out of washington. veronica. >> they totally missed it and they're still very cautious and not taking advantage what is happening now. they have a lot of money on the sidelines still. they're very skeptical and afraid. melissa: that is true. >> but that is their problem, let's be honest. if you have money -- melissa: very heartless, charlie gasparino. >> if you don't put money -- listen, i hate the fact that the fed is printing money. it will come crashing down. but you don't play here you're an idiot. >> tapering less. so everybody was afraid of that. it is doing just fine. >> that's what i'm saying. i should point out, the taper means almost nothing because
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still printing money, lots of money. melissa: meanwhile the good and bad. tesla getting crushed and stocks getting hammered, solarcity is red hot right now. we talk about people getting into stocks and you have these stories out there. how do you reconcile it, veronica? >> solarcity is having. it is a bit of a black box for me and average investor. what is really going on there. i don't know if that is a place for your average investor going to want to be to begin with. there is definitely a disconnect. but i think what this speaks to, musk, he is such a risk-taker. his businesses get so much attention no matter what they do for good or for bad. so that leaves him in a interesting spot. >> there is tie inn here because we talk about the fed and markets but this is the federal government. melissa: absolutely. >> not only subsidizing solarcity, this is a great racket. then you get your customers to get subsidized as well. so you have a double subsidy from the government, it is going to make a billionaire out of
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owner. melissa: courtesy of all of us the taxpayers. >> there is public policy story you're talking about but there is market story. for the average investor, i talk to a lost portfolio managers out there, you don't have to buy these stocks. buy indexes. bet broad where you make money. melissa: you actually make the money. meantime this is story you were reporting on for a while, barclays cutting nearly 20,000 jobs. charlie has been reporting a while. >> for a year. melissa: now everybody is jumping on the bandwagon. >> bank made huge investment in investment bank, barclays is a investment bank. melissa: bought lehman, you're right. >> it bought it at fire, vultured back in 2008. melissa: certainly did. >> you remember it well. i do. now it realizing it ain't working. what they're blaming, what their people are blaming, telling people in congress, their lobbyists are talking to congressional staffers, they're saying we can't deal with massive amount of global regulation, both dodd-frank in the u.s. and stuff being thrown,
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shoved down our throat in europe. guess what? that means a lot less jobs. >> they also not only investment bank being shrunk down, but to your point about the regulations they have gone way up, expense of operating a bank is way up. in addition to that the trading revenue, people are gun-shy. so the trading revenue is backed way, way off as well. melissa: okay. >> they're getting out of high-risk businesses because of that regulation. goes to show it's a lot more difficult to get a job on wall street. lot less desirable. >> depends, depends where you go. private equity, listen, private equity firms are becoming wall street investment banks. if you talk to any of people at these places steve schwarzman, go down the list, people at blackstone, carlisle, they will will tell we do what wall street does, and guess what? we're not covered by dodd-frank. melissa: if you can't beat them, steal them. jpmorgan poaching top talent from silicon valley. there is example of wall street morphing to what is really working. >> if you're a business major you get left out.
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you have to be a tech major. melissa: we know that. we know that. training my kids on code. >> they lost one of their best people to private equity. making my point. what is his name, mike cavanagh, former cfo, allegedly heir apparent to jamie dimon went to the carlyle group. why did he go to the carlyle group? talk to anybody. he didn't have to put up with the nonsense of bank regulation. melissa: that is fabulous landing. incredible wealth and probably much less work. >> he is a good guy. melissa: that's great. >> a lot of these guys want to go to the tech side, want to go to silicon valley because that's where the real lonnie is. melissa: righ >> if you're a business school grad right out of school this is where the opportunity is at. melissa: why isn't jpmorgan stealing them back? will they open a wallet of their own? what do you think? >> if you do banking on your phone and mobile is the future. and in addition to that, banks always want to cross sale. they are getting people to go in and data mine who the customers are. >> i don't think it's a trend.
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melissa: no, i don't think it's a trend. it reveals something that jpmorgan is planning. are they looking at getting into a google wallet type thing? are they getting ready to launch a different people? they're stealing all these people. they see it as competition. there is that too. whopper of all news today, this one really got me. reports that burger king is bringing out the big buns, burger and fries for brake fast. you don't like this? i love this idea. there is time of day when you don't want a cheeseburger? not me. i can't think of an hour of the day when a cheeseburger is not appropriate. >> maybe burger but not bread and fries. too many carbs too early. melissa: you're such a good person. >> mcdonald's brought in $201,210,000,000,000 in breakfast sales. all year long, all sales, 24/7 from taco bell 24 billion. mcdonald's beat them with brake fast. only area of fast-food growing is breakfast. melissa: bk says we can't compete with the egg mcmuffin
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so we might as well sell cheeseburgers. >> i don't eat this stuff. melissa: ever? ever? not a moment of weakness and french fry never crosses your lips? >> maybe a french fry. if you eat carbs and crappy stuff better to do in the morning with whole stay to burn it off. melissa: i love that that is great point. all right. she just wants to be left alone. marisa mayer telling critics to stop asking if yahoo! is tech or media company. she got all furious. this was as tech crunch disruptor in new york. michael erin ton, lord of techcrunch he is a bit of a pain in the ass. i don't know if we can say that. michael arrington, he runs, i guess he is journalist. he sets up this whole thing very successful, very popular. i'm sure he is making a zillion dollars off it but does fireside interviews, unlike you, very aggressive like somewhat hostile to the people. >> is he hostile to them? melissa: he is a bit hostile.
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>> i'm not hostile. i don't do that to people. on't. i don't. melissa: you're never, never do anything. >> i don't do that to people. melissa: but he does. he made marisa very cranky. what do we think. >> tough. >> where is it going? i don't know why that is offensive question. melissa: equivalent of naval gazing at yahoo! what difference does it make if you're a tech company or media company? >> here is the problem she has. they will get about $10 billion from the sale of their interest, they own a big chunk of alibaba. melissa: right. they're in big trouble. >> the question, is she going to go tech or going to go media and go b a company with that $10 billion? >> that is the whole thing. if there wasn't a looming question out there people wouldn't be asking her. melissa: in a cranky way and making her all crotchety. >> she would -- >> you would think that she knows the answer to that, right? melissa: i think she does know the answer. i've interviewed her before. she does get a little cranky. she is lovely.
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paying straight cash for -- >> was a pain and she is cranky? melissa: there you go. getting out out of the checkbooo buy a new home. whatwhat that is saying about te state of our economy coming up next. glued to your phone. what happens when you're not? the crazy lengths americans will go to save their cell? just how far would you go in more "money" coming up. ♪
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melissa: homeowners cashing in. half of u.s. home sales are all-cash deals. what is behind this trend? back now "the wall street journal" veronica daguerre and robert luna and chatwood fund jared levy. thanks to all of you for joining us. i will start with you. does that surprise you, 43% of home sales in the first three months of 2014 were all cash? >> not really, melissa. i hail from phoenix so i'm very qualified to talk about lunacy which is single family residential housing. we're seeing crazy things with
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phoenix. supply is all-time hoe and starting to see bidding wars. melissa: who has money to pay for all-cash house. >> mostly retirees. melissa: regular people? >> absolutely. people sitting on sidelines. individual investor is out of the market. they're sitting in the money market and they're afraid market and putting that into -- melissa: jared, you're sound being like you're a non-believer. >> i will put on my super geek hat. i ran regression models. foreign nationals are investing alongside hedge funds bying single family homes. yes, retirees are part of it but foreign nationals family members are buying these. melissa: they're ones paying cash, is that what you're saying? >> yes. i think it is stablizing. listen to real quick. homes are becoming income generators as opposed to becoming big debt burdens for a lot of u.s. if we slip into recession, you will be less likely to let go of income generator than big debt burden to you.
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it doesn't bode well for main street america. melissa: that is really interesting point. veronica, what do you think about that. >> i had a financial advisor come in yesterday saying their chinese clients are buying houses in california and new york to diversify their portfolios because they're concerned about the chinese housing market. they have a lot of money tied up there. this is a strategy for them. the average american i don't think this is what they're doing, that they don't have this kind of money saved. i find it hard to believe that middle america has money to lay out with a huge cash down payment. melissa: we have to leave it there. we're looking all day on fox business is business of travel. we have a deal aggregator that helped its 27 million subscribers saved more than 10 billion bucks. is that possible? we have the president who joins me now. thank you so much for joining us. travel zoo. >> thanks, melissa, for having me. melissa: with everything going on in the economy, aaa
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predicting that memorial day travel is going to dip. are you seeing that versus last year? >> we're not. we're seeing bookings increase and lot more deals in the market. that is probably why the, the travel, we're seeing travel on our site increase. i think what aaa, they said it might be slightly down but, i think people are still, there's a lot of pent-up demand especially after this harsh winter to get travel -- melissa: has it been a tough winter in particular for travel? did you see bookings drop off as people kind of stayed home, afraid of flights being delayed or canceled? >> a little bit the especially in january. we saw a little bit of a pullback. but then, in the february, march, time frame we saw a huge ramp up. and we're also seeing a lot of really fantastic deals in the market coming for summer as well. so, we're seeing a lot more traffic. the air fare in particuarly has been, i know there was a lot of talk about consolidation of
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airlines and fares may be dropping however there is great sales out there, both international and domestic. in fact there is one that indtonight, that is a 138 starting at, nationwide. so -- melissa: you can fly anywhere in the country for 13bucks? >> might want to jump on that one. melissa: what is that deal? can fly anywhere in the country for 138 bucks? >> starts at $138, depending on cities you want to travel it is going to differentiate. 138 nationwide, starting at, and it ends tonight. there is also canadian travel is very popular as well. we're seeing a flights at about 150, starting at $150 round-trip, which u.s. to canada has been relatively expensive over the last year. melissa: very cool. we all love to travel, shirley. thank you so much for coming on. we appreciate it. >> okay thank you. melissa: epidemic goes into overdrive. one in 10 americans now suffering from the disease.
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it is a time bomb that doctors say we need to address right now. plus the nfl draft kicks off tonight with millions of dollars on the line. who better to talk to than real life "jerry maguire," leigh steinberg. he is joining me. "piles of money" coming right up. ♪
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when folks think about what they get from alaska, they think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america.
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dierdre: markets coming off their highs right now of the dow still trying to finish at a record close. let's go right to nicole petallides on the floor of the new york stock exchange with more. why are we seeing a little bit of pullback here? >> it is not unusual to see that we would have this back and forth action. of course we heard from our fed head earlier today. once again in her second day of
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testimony janet yellen really providing an outlook for a very accommodative fed. that being said we move into within striking distance of record intraday all-time highs. we're 10 points away from the dow jones industrials. still higher for the dow. the s&p just fraction alley into the red right now. some names that would be weighing on these major averages would be drug-related. merck, united health care, down more than one%. the drug index is an index that is really evident to the downside. where is the banking index and retail index those are holding on. oil services are also showing some weakness right now, melissa. melissa: nicole, thank you so much. so is the health crisis too widespread to ignore? one in 10 adults suffers from diabetes. that number will only go up from here. experts say a third of all mississippi adults will have the disease in next 15 years. that is shocking statistic. there has been progress.
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diabetes related heart attacks and strokes have dropped 60% showing some of the treatment is starting to work. dr. devi, a associate professor at nyu school of medicine. we're seeing number of people with diabetes go up dramatically but seeing complications, heart attacking strokes, going down. why? >> people are getting diagnosed earlier part of the numbers going up. in the past 20 years ago you might get diagnosed with diabetes because you were having a complication. might have heart attack or stroke and at same time people tell tell you have diabetes. they can live a longer time without the complication but numbers skyrocket. melissa: what is it? narrowing of blood vessels, right? >> exactly. a few things involved in diabetes. it is called what is an autoimmune disease. it is attacking your own body. mistaking your own body for bacteria and your own immune system is attacking you.
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if it attacks your blood vessels, what can happen those blood vessels get damaged. the blood vessels carry you oxygen, it is carrying you nutrients that all your organs need. if you think about it sort of like trying to drink something, from a bottle versus through a straw, if you have a bottle or open glass of water it is really open so you can get a lot of water but if you have a straw you get a lot less. that is exactly what is happening with your blood vessels. melissa: type-2 diabetes is most common but cause is unknown, right? >> it is unknown but seems linked to obesity. when numbers are going up then the numbers of people with diabetes are going up. there are a couple different things that are going on that might cause numb brothers to go up. in terms of things being promising though, one of the things that is good we are making a lot of advances. so medical care is improving for diabetes. a lot of medications are getting better. a lot of technology is getting better even glue cometters. people have a lot more knowledge
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about diabetes. they know when there is problem. colleagues friends, know a problem and can help people out. melissa: they know how to deal with it. dr. devi, thank you very much. appreciate your time. >> thank you so much. melissa: speaking of diabetes, getting chicken nuggets and fries may be about to get a whole lot harder. fast-food workers protests that are about to go global. family feud's contestant whose family probably wants to disown her right about now. we're betting richard dawson would still like her. get your buzzer ready. wheel show you how it played out. "piles of money" coming up.
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my dad has aor afib.brillation, he has the most common kind... ...it's not caused by a heart valve problem. dad, it says your afib puts you at 5 times greater risk of a stroke. that's why i take my warfarin every day. but it looks like maybe we should ask your doctor about pradaxa. in a clinical trial, pradaxa® (dabiga.. ...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. don't stop taking pradaxa without talking to your doctor. stopping increases your risk of stroke. ask your doctor if you need to stop pradaxa before surgery or a medical or dental procedure. pradaxa can cause serious, sometimes fatal, bleeding. don't take pradaxa if you have abnormal bleeding 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 you're 75 or older, have a bleeding condition or stomach ulcer, take aspirin, nsaids, or blood thinners... ...or if you have kidney problems,
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especially if you take certain medicines. tell your doctors about all medicines you take. pradaxa side effects include indigestion, stomach pain, upset, or burning. if you or someone you love has afib not caused by a heart valve problem... ...ask your doctor about reducing the risk of stroke with pradaxa. can you start tomorrow? yes sir. alright. let's share the news tomorrow. today we failrly busy. tomorrow we're booked solid. we close on the house tomorrow. i want one of these opened up. because tomorow we go live... it's 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. melissa: the wage rate going global, where crews in 33
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countries are said to protest one week from today and fast-food employees in 150 cities across america are planning to strike the same day, to demand a rise in wages, joining me is the author of the state of the union and veronica from the wall street journal, and steve more of the heritage foundation, let me start with you. do you think these protests are getting any traction? >> i definitely do. they have done a good job in recent decades getting the message to the public but this is a strong exception. people have been talking, legislators in states around the country and average folks. this is resonating. everybody understands that it shouldn't be the case that in a highly profitable industry folks working 40 hours a week need public assistance. melissa: you can't ignore the fact you have folks coming out saying they will put eight kiosks in every restaurant and
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replace the people at the counter as the price becomes more expensive to have those folks there they automate. >> it is happening already but this is going to accelerate that. we are talking the fast-food industry. these are starter jobs. if you raise the wage to $10, $12 an hour you will destroy lot of those jobs and people won't have the first job that gets them to the second or third that teaches them to run a cash register all these things. melissa: they can't afford to pay this. we talked to other small business owners who say -- >> i have interviewed a lot of people in these burger kings and mcdonald's and potpies restaurants and you think of the mess huge conglomerate that these are not rich people. they are very low margins on their stores and you raise those prices, at burger king they have the dollar menu, they don't have the capacity to raise prices. melissa: people don't know 15% of mcdonald's are owned by the corporation, they think of the
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ceo and how much he is making and 85% are owned by small business owners. >> these small-business owners, they run one or two stores but even so they have thin margins of these stores are a problem raising wages. melissa: because this may be an ideal for unions, strikes and protests are going on, hamilton, has an idea to the living wage supporters, they should buy a franchise and this is something we have said on the show before. is yours, you can pay all the employees as much as you want and set the example. if that is what you want to do and think it is possible, pay people at the counter $15 an hour, do that. you could get backing from wealthy folks who support the agenda. what do you think? >> there are some myths out there. these are not always starter jobs. the average fast-food workers 27 and as a family and needs to
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support a family. melissa: i would love to address the point we through your way. what do you think of the idea of getting together and having a restaurant where if your goal is to pay folks $15 an hour not to make a profit or whatever the goal of another business might be why not do that and set the example? >> two points about that. is a nice idea that might be a model and actually the store would do well because they would have less labor turnover and would save money. on the other hand this is a societal issue, we have a shrinking disappearing middle class. it needs to be addressed systemically. like saying a handicapped workers are not treated right they should treat their own store. the economy has been bad -- melissa: paying $15 an hour, doesn't address the shrinking -- not enough money to get you to the middle class. >> the average wage in the united states is $20 an hour. the idea of minimum wage is not even -- only 5% of workers earn the minimum wage in the united states but i would say this.
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it would be great if some of these unions went out and started these businesses and let's see them do it. the unions -- oftentimes payless than other stores do. melissa: thanks to all three of you. will fall we go anywhere have you seen this? the family feud fail that is going viral. the errors were left screaming at their tv sets after probably the worst performance by contesting the game show has ever seen. this pour woman from california family needed just 18 points, easy. look how many she got. >> you said -- she said -- you said -- from ole is up. you said -- marriage. survey said -- the number one
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answer. melissa: i feel so bad. >> what was the question? melissa: the questions were all easy. they weren't hard. two examples, one was named something your belly does. and people check their watch. i don't -- >> oh. >> bless her heart. name something your belly does, restaurants. oh. >> anything? we will laugh all the way, pour woman. ethanol, a clean energy alternative calls into serious doubt we are talking to bill nye the science guy on how the fuel
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could be adding smog to our skies. ethanol. at the end of the day it is all about money. [ male announcer ] what if a small company became big business overnight? ♪ like, really big... then expanded? ♪ or their new product tanked? ♪ or not? what if they embrace new technology instead? ♪ imagine a company's future with the future of trading. company profile. a research tool on thinkorswim. from td ameritrade.
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...i got lots of advice, but i needed information i could trust. unitedhealthcare's innovative, simple program helps moms stay on track with their doctors to get the right care and guidance. (anncr vo) that's health in numbers. unitedhealthcare. visit truecar.comoney,com,t and never overpay.yer's remorse. a good deal or not. "okay, this is the price,"sman comes and you're like.ells you, melissa: melissa frances with your boss -- fox business brief jobless claims fell more than expected snapping three weeks of gains, the number of americans
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filing for benefits dropped to 319,000 which was better than the 320,000 figure forecast by economists. barnes and noble is planning a big expansion on college campuses. report said the bookstore wants to open 300 new locations in the next few years and each student sends an average of $1,200 each year on textbooks and supplies. fannie mae is sending the treasury dividend of $5.7 billion after posting a ninth straight quarterly profit. once received fannie mae will ever return $129 billion to taxpayers on the $117 billion it had received in age. the latest from the fox business network giving you the power to prosper. we asked people a question,
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how much money do you think you'll need when you retire? then we gave each person a ribbon to show how many years that amount might last. i was trying to, like, pull it a little further. [ woman ] got me to 70 years old.
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i'm going have to rethink this thing. it's hard to imagin how much we'll need for a retirement that could last 3years or mor so maybe we need to approach things dferently, if we want to be ready for a longer retirement. ♪ melissa: millions of dollars and the fate of your favorite nfl franchise on the line when the nfl draft kicks off tonight. local teams like the tampa bay bucs will spend big money trying to land the next hall of fame while the former college stars what it out until they are selected, no one understands the process better than superagents steinberg, the real-life inspiration for jerry mcguire and he joins me now. thank you for joining us today. >> the most exciting day of the year if you love football.
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>> right down the street from us, you get swept up in it. as an agent side wonder how much control you actually have when a draft is going on. how much can you impact things? >> it comes in the process before. we have a second season of scouting where a player is trained and they go to all-star games, they go to a scouting combine, and pro scouting day and have all that chance to hone their skills so it is making sure a player presents himself as best. the draft does not merit badge and about 4 conspicuous college performance. is a projection as to how the player will do for the next ten to 12 years. melissa: it makes a huge difference. last year's pick got a $22 million contract. the last pick in the first round on a $6.7 million contract so in the same round it matters so much where you go. one player who could experience
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that kind of slide is texas quarterback johnny mandel. his antics had impact. how do you manage a situation like that? >> having gone through this for 40 years, 61st round draft picks, in eight different graphics. an excellent job of presenting itself as the more mature, sincere, he does things on the field that are unbelievable. he made the adjustment. they put a microscope on him. melissa: can't really handle but let me ask about michael sam. the first openly gay player in the nfl as sports illustrated cut executives' and coaches saying is coming out, and -- >> what this does makes a
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difference, the fact that he had a less than stellar combine. football is a meritocracy. the pastor, who cares what he does in the rest of his life. he didn't test very well. melissa: the first time for the walkout music, at the same time let me ask about this. by their teams jerseys with more confidence this season, and instituting first of its kind, and 25% rebate, the jerseys namesake leaves the team. >> jonathan kraft, the most clever marketer is going and they first started with tony hernandez, aron hernandez where bands do a swap, and -- it is
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25%. melissa: not quite a rebate. liz claman, we were talking about the show, the ceo coming up. they are all wrong. and into the business model. and custom knees of solar city, the ceo and co-founder of solar city, this stock is moving, it went public in 2012. this is an exclusive interview. we will ask him about his business model. she is doing very well. they have narrower than expanded offices, and justification of -- no matter what happens in 2016 when they do subsidies.
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>> only with liz claman, i will be watching for that. a new study out of brazil found when more cars use gasoline and food and greenhouse friendly ethanol, and on those levels they went down. the cleaner fuel, harming the environment more than dreaded gasoline, bill nye the science guy, surprise to hear about this, fairly liberal left-leaning publication. scientists were surprised by what happened in brazil, basically cause the run on gas or ethanol, and the price of gasoline. a huge portion of cars which the over and went 14% using gas to 76 and ozone drop to. >> ozone or ethanol, not a
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panacea. and what i was saying is the model, the computer, mathematical model of what would happen in that part of the world when people were using gasoline was incomplete, and there was some effect of sunlight. and the photochemical affect. melissa: ethanol is worse for the environment? >> that is a great on. that is also too simplest the man. chemistry is more complicated than that but in the bigger picture ethanol is just a okay. they convert ethanol -- a huge problem. >> takes a lot of energy to make ethanol. melissa: the union of concerned scientists, everyone is touting ethanol as the greatest thing that ever happened. part of the solution especially
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-- and ozone is one measure of air quality. you may have more particulates, more carbon dioxide, more carbon monoxide from burning gasoline, and that was not revealed in the articles you guys posted. another situation was complicated. i encourage all of us, internal combustion inherently inefficient. it is okay, but we could do a lot better if you drive an electric car your vehicle is over 90 the drivetrain is over 90% efficient. melissa: what about the carbon footprint of those batteries. >> it is a big complicated problem. if we could invent a better battery in the united states, somebody is first of all to get rich which wouldn't be bad and
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your investors do very well and could export the technology in the united states it could be great. the key is storing electricity almost as magical. whether it is your phone, your flashlight or electric vehicle. melissa: thank you so much. talking ali baba but have you actually seen the frightening things you can buy on the side, some of the items are a little out there. you can never have too much money too much bill nye the science guy. >> take a walk on a wild side. ♪ up. a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up.
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everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we will up it yet again. when folks think about wthey think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america. humans.
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melissa: wall street or main street, the stock is soaring as the coffee maker borrowed up investors, expanding the partnership. folders making more of them available in a single cut borrowing, shares are up 11%. billionaire founder bob getting a jolt today, he has more than a.4 million shares meaning he already made wait for it, $86 million since this morning. that is quite a day. keeping hard-earned money save today colorado's marijuana merchants, lawmakers have approved the world's first financial system for the pot industry. mostly uninsured will give a much-needed banking services up until now, and turned away from most banks making the target for
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criminals. now not making a dime off of tesla, a nation far -- carthy is only three of the electric vehicles have never been stolen. that is just zero.15 cause for 1,000 made, not even a whole car. compare that to the medium rate of 4 vehicles for 1,000 cars. there is no demand for tesla's stolen parts, three of the monroe. good to know. time for fun with spare change. you got some extra money might i suggest you spend it shopping at ali baba. that ecommerce is gearing up for a huge ipo. have you seen the stuff they have for sale? that is next to me. here is jo lin kent and jared levy. what in the world is the stuff that is going on?
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>> all the goods are made in china as those they make things like that suits -- and they found -- melissa: who wouldn't want to pay good money for that? i would want -- and $16,800 is supposed to be arnold schwarzenegger. >> a lot of people buy things every day. i used it when i lived in china, you can buy great clothes that agreed discount, send it back, free shipping both ways so it is the everything store. something else, costumes con ali baba. melissa: what do you think of this? >> it is a story you can get just about anything. i was blown away, i did looking for peeling not, wanted to import them into the states. i started finding things like
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you could buy a million barrels of crude oil and get little things of carl rogers doing odd thing this. melissa: does this make you feel better or worse about the business as an investor? >> it makes me feel scared. the reason is how do you get i whaeason is how do you get i ys say be thman with the plan i whaeason is how do you get
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but with less ergy, moodiness, i had to do something. i saw mdoctor. a blood test showed it was low testosterone, not age. we talked about axiron the onlynderarm low t treaent that 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.
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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 cance 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.
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melissa: i want to point your attention to the markets, because we're getting a huge step back from the rally we had, the dow was up more than 100 points earlier today. the s&p and nasdaq in negative territory. mark newton and larry shover, mark, what's sucking the life out of the market? >> the market hasn't been arable to hold the gains -- hasn't been able to hold the gains, it's all about the russell. the russell started down about two hours ago, and the rest of the market followed suit, so now we're down about 1%. set april lows on a closing basis, so that's interesting. and, you know, it continues to be a very defensive trade. the only two sectors that are in the green, telecom and financials. telecom showing great strength and, obviously, some additional strength from at&t and verizon. and, you know, utilities and energy which have been the best performers really over the last few months are today's laggards. melissa: yeah. larry, i mean, we're going to the flat line on the dow here.
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i'm watching it fade away. feels like we're going to go negative. what do you think has taken the life out of the market today? >> i think it's just a lot of rotation consolidation, but people are also growing weary, that little utterance about the council is comfortable in acting next time. what's that going to mean? they're not going to be able to pull off quantitative easing. million mel thanks to both of you. so take away my phone, i may just die, but two-thirds of americans would put themselves in danger to safe their stolen -- save their stolen phone. this is like people going down in the subway. >> yeah, it's like their baby. i wouldn't, you know, put myself in physical danger, however, i have lurched across a puddle to save a phone. [laughter] >> crazy is wealth managers, melissa, we spend a lot of our time with the behavioral aspect of investing, i think it's absolutely crazy. you know, it's -- and really what it is, there's one answer to this, back it up on the cloud. it's a $200 phone. don't risk your life for it.
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melissa: thanks to both of you. i hope you are making money today. keep your eye on the market with liz claman. "countdown" starts right now. ♪ ♪ liz: as we wait on a possible record close for the markets, some u.s. companies are shining. solar city, the largest u.s. solar services company, beats on revenue and raises its forecast for the year. we ask the ceo about sunny outlook and what advice he's getting from tesla's ceo, elon musk, who also happens to be chairman of solar city. riding high among the clouds could be a bumpy business. turbulence can cause injuries and cost airlines millions of dollars. it's our business of travel day, so we're asking the president of weather services international about the latest technology airlines are using to find smoother air and higher profits. and smash mouth football horse trading. it's nfl draft day.

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