tv The Kudlow Report CNBC November 13, 2013 7:00pm-8:01pm EST
take the risk. but after listening to mr. novak, my charitable trust is not going to sell. it just sounds like it really is turning in china. i like to say there is always a bull market somewhere. i the obama administration timely coming clean with the real number of people who signed up for obama care. it is a bad number. only 27,000 through the federal exchange. even that number may be inflated because the folks haven't paid yet, but we'll see. is obama care going to crumble under its own weight? that is the big question. another new high for the dow industrials. great stuff. i think there's still reason to be bullish. by the way, janet yellen, she's testifying in front of the senate for her nomination, but her testimony was released late this afternoon and it indicates
steady as did you stimulus, no reduction in bond buying. and vice president dick cheney joins us from a one-on-one interview. we'll get his take on obama care, the in fighting among republicans, and his amazing heart transplant story. all those and much more coming up on "the kudlow report" beginning right now. good evening, everyone. i'm larry kudlow. this is "the kudlow report." we are live in washington, d.c., 7:00 eastern time, 4:00 pacific care. the federal government releases the shocking and under whel amming. they say the health care.gov is unlikely to be working. president obama's tech chief got grilled over the continued
problems and glitches plaguing the website. we are here with cnbc's a m ayman jabers. >> very tough day for the obama administration. starting with the overall number of people who have signed up for obama care. the white house putting that number out this afternoon. 106,185 total people have signed up, 79,391 of those signed up through the state marketplaces, it was only 26,794 people who were able to sign up through that plagued website, healthcare.gov. what about that november 30th deadline that the white house has put on it self to get hea h healthcare.gov fixed. he was asked whether or not they could hit that deadline, and if you listen to his answer, what he doesn't say here is yes. take a listen. >> are we going to hit november
30th? >> thank you for the question. thank you for your kind words at the beginning as well. so the goal that has been laid out is for the site not to be perfect by the end of november. >> functional so people can log on. the vast majority of americans will be able to use the site. >> that's the goal we're gunning for. we're working very hard to get there. >> so todd park saying there, that's the goal, they're working hard, but not committing, larry, to this idea that they'll be able to have this website fixed by november the 30th. very different tone from kathleen sebelius who talked on a conference call from reporters later in the day. she said this website is up and running, open for business and people are enrolling now. a big tone difference here between park and sebelius. maybe a divergence of strategy here in terms of what they're trying to set as expectations for the end of this month. >> or maybe park knows what he's talking about and sebelius doesn't. >> park is the guy -- >> he's on the line. >> he's the guy they've put in
charge of this office. he's the one sleeping in his office in the days leading up to the rollout. even republicans give him deference on the technical questions. he's the guy who knows what he's doing. why wasn't he involved earlier on. >> right. like a grownup. eamon, stay with us. hang on. joining us health care experts, bosh lichefsky. and avik roy. "how medicaid failed." is that true? >> that's the under appreciated thing. medicaid enrollment is huge. that's huge for the fiscal associations in the states. they're going to take some of the bill of that, they'll pick up some of the tab. plus, in terms of health outcomes and health quality, the medicaid program is poorer in
terms of the quality -- >> the worst. >> the best doctors don't go near it, is that fair? >> that's absolutely fair. >> these people are going to be ma maltreated. >> it won't collapse. you'll have expanded medicaid. a shrunken exchange that works for poor people and sicker people. it will limp along. >> bob, let me just dispose of the numbers. the numbers look disastrous. are people expecting these numbers to just continue disastro disastrous. >> the numbers have changed in terms of the number of enrollments insurance companies are getting. let me put the numbers in another context for you. 27,000 people in 36 states is 25 people per day per state. in the state of florida and the state of ohio, that's 1 person per hour per day in florida signing up for healthcare.gov. i think one of the incredible
stories here that's just not being focused on and reported is how cynical this administration is to tell people to keep try g trying. goodness, they have known these numbers. they knew one person in florida or georgia was getting through and they told them to keep trying. sebelius is kind of like a baghdad bob of the situation trying to say all things are good. why? because she's afraid that if she admits there are problems with the website, people won't come to the website, they won't sign up and that will create a vicious cycle. she's trying to put this happy face on things that is not credible. >> what's interesting, larry, you talk about a happy face. who's not happy here are the democrats up on capitol hill really. they have to run for re-election. the president has to run for re-election. he's trying to preserve his signature piece of legislation but he's not trying to preserve his political career and they've gone to the president and said they're worried about this. >> i'm reading today on the
website there's another summit between the senate democrats and the chief of staff of the white house. senator mary land ger saying if you want your insurance, you can keep it. >> >> jay carney said he'll make some progress. they wouldn't say exactly what the president is going to endorse here. >> bill clinton's slam down hurt. >> bill clinton threw barack obama on the political bus here. that was damaging. you saw a lot of democrats go wobbly. we'll see something coming out of the white house. the question is what can they announce that doesn't gut the core of the law. in their view these plans are noncompliant with the law. they are bad plans that don't live up to the standards they've set. how can they go back and retroactively allow those plans. >> he hasn't backed any
legislation. i want to get to that, bob. tell me about the small business group insurance. i want to ask you about the insurance companies. they're all programmed now. they're all programmed to get rid of these plans and somehow get the new obama plans in there. let's say the landrew bill passes which allows you to keep your plan. the insurance can be re-reprogrammed to do this? >> i made the rounds today and asked that question of the ceos. larry, if you have to sign up by december 15th in order to have coverage on january 1. december 15th is 33 days away from now. so the notion that they can pass something in the congress, they can figure -- in both house, they can figure out how to do regulations, there are enormous numbers of details on how this would work, for example, would people be offered the opportunity? would they be mandated and told because the insurance companies, those plans are gone. >> that's right. that's right. what you've got here is 33 days to pass legislation to
essentially get very complex regulations. the insurance companies send out the letters in u.s. mail. you'll do all of that in 33 days. >> i don't get that. >> this is why it was so tricky for bill clinton to put barack obama -- >> this is a political issue. >> bill clinton waited until the most difficult moment possible. >> really, is that coordinated with hillary clinton? >> what do you think of that? >> bill clinton has been try angulating for 30 years. >> it's his wife. it's his wife running for president. that's not try angulating. >> that's true. >> one key point, there are three different bills out there in congress. there's the landry bill, the senate bill from ron johnson and there's a house bill from upton, chairman of the house energy and comps committee. the landry bill from a policy
standpoint is the least attractive. what it does is it forces the insurance companies to continue to offer a plan as opposed to allowing individuals to continue the coverage they like. the landry bill is not very attractive. i think there should be some concern on the conservative side, republican side. >> the only practical hope here is as we talked about other evenings, many of the insurance companies offered these renewals that allowed them to push the renewal date to december, all right? so those people are going to lose their health insurance. that's a big part of this. >> does this renewal policy open the door to, you know, i can have my insurance if i want it? does that open that door? >> what it does is you can have the insurance you want now until december 2014. what it does in terms of the legislative process is it gives them 12 months to fix this problem for those people.
the people in january who don't have that option, 1 million people in california don't have that. some have been extended for months. there's no hope. >> you've been canvassing the group insurance people and you're saying that does not look good either. is that the next wave. >> the next wave. >> of cancellations? >> the next wave is occurring right now. it won't be cancellations. in the small group, they have to comply with obama care benefit mandates. over 50 employers, larger employers do not have to comply. the january 1 renewals just started to go out this week. i was talking to an insurance broker friend of mine in annapolis today who was out delivering renewals. 30, 40%. what he's saying is -- maryland is a -- >> 30, 40% renewal -- >> premium rate. >> that's right. >> premium rate. the insurance company comes in to say, to comply, this is what
it costs. in maryland they have a lot of benefit mandates which comes close to obama care. what the renewals they're presenting because this is so extraordinary. you have to increase the deductibles. >> this is an important point. >> i have to get out. we're going to follow this. when i hear you talk about this, i don't know, you're saying no cancellations. doesn't sound that way. bob, avik, eamon. coming up, my one-on-one interview with former vice president dick cheney. we'll hear his harsh words for obama care. the first up, will president obama support legislation even for democrats to make good on his pledge that you could keep your insurance if you like it? and then nothing happened apparently on day two of the budge get talks. senator rob port man of owe hire
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house and senate budget negotiators held their second public meeting today. with just about a month to the december deadline, there appears to be no signs that they're any closer to a deal. joining us is the former director of management and budget, rob portman. as always, welcome back to the show. >> larry, thank you. >> before we do budget stuff, can i ask you, there's several bills that let you keep your insurance plan if you like it. there's senator johnson's bill and others. the democrats are in panic tizzy over what's going on and obama's unpopularity. can you just give us a sense, any of these bills serious? could they pass? will there be a vote? >> i think they're serious. i don't think they're going to work and that's what you just heard from the experts. in other words, we've already kind of gone down this path and it's very difficult to unravel
the damage that's been done. 50 times more americans have lost it than gained it in enrollment. 50 times more. i want to try to help folks who are -- >> there's a renewal process. there is a renewal -- insurance renewal process. it's not as clean. but you could do it if you wanted to do it. >> what do you think -- >> who give votes to these bills? that's what i want to know. >> i don't know. since senator landrew, probably there's some interest in that. there's some of the other proposals to do certain things that may not be sure. >> no one's really sure. >> this is chaos right now. >> chaos. >> unfortunately it's being
taken out on my constituents. folks that are trying to figure out how to get through this thing. a lot of them have family coverage, they're real worried about it and phone calls and e-mails. i said, look, i was doing efg i was supposed to do. i waited for two weeks. i haven't heard back. i have a kid in college who needs to know what his insurance is because he doesn't get it through the college. what do i do? it is everything that we had said it would be but it's even worse. >> let's go to budget. i'm hearing, you tell me if this is wrong. imthe budget is due december 13th, the first january of it. i'm hearing they want to raise taxes, ends loopholes, blah, blah, blah. but no lower tax rates on the
other side. they want to end the sequester. that's what i'm hearing. >> i think some democrats want to do that certainly. we just raised taxes $620 billion the first of this year. first we had do you go and it was a hearing really to get information from the congressional budget office. i was able to ask him, you know, what does it look like? in terms of the next ten years. it was probably how you had to look at it. >> what did he say? >> he said we're looking into a decade that will be the highest. >> through 19% and 20% of gdp. >> he has a different gdp number. what he is saying is it will be the highest sustained percentage. >> so that's not the issue. the issue is being stymied.
the other thing i want to add this, in my view, i'm not alone, i think the budget caps and sequestration was good. i think the republicans drove it through. i actually think in the long run it will help enormously. why give that up. why give that up? >> here's a possibility. as you know, 2/3 of the budget is on auto pilot. >> right. >> it includes some incompetent credibly your big portion. that's where the growth is. so what they said today is have you to get to that part of the budget or will they not. >> republicans go there? >> that's a fair question, republicans and democrats have promised too much. that's where we have to get. my view is in this whole budget problems.
we're supposed to report in lease than a month but what we could do is take some steps that you would like to reform. we shouldn't raise taxes, it will hurt the economy. >> texas. >> already relatively high, but it won't pass the house anyway. one small step or the mandatory side. that's what a leverage can provide me the mandatory side. >> i'll give you a scale one to ten. let me ask you this. >>. >> yes. yes. ten is flew perfect. one is a disaster i have -- one to ten. one says definitely, ten says no
way. i'm more on tow mistake than some. i don't think it's impossible to get there because we're not asking too much. all we're saying is let's take some small steps in the regular situation. let's keep these budget control caps in place. by the way, we voted noor only two years ago. most democrats in the senate have gone for it. we have 1 poichb pope $9 trillion in debt except that the debt issue is even worse. >> that's a little unfair what you just said. you know why? because spending has come down substantially. >> but the debt -- >> you'll have these benefits. serious. that wasn't the first thought thinking you'll have --
>> i think the gop should have taken more credit for it in the election. whatever. i'm nonpartisan control the numbers. >> yes, thank you. and the deficit has come down. stay on track. do a clean bill. sequestrations will roll. why don't you roll a clean bill. >> it's almost increased by 10 trillion dollars. i enjoy that here. if we don't keep it in plies, that's being fair. >> senator rob portman. up next on ku low and janet yellen's testimony, her reasoned
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welcome back to "the kudlow report." i'm seema mody. the s&p 500 gained 14. the nasdaq is up about 46. the markets now looking ahead to janet yellen's confirmation hearings tomorrow. we have an advanced copy of her opening statement. yellen will say that she will continue the policies of cohn fed chairman.
now on the prospects of rates staying the same, gold is moving higher. the yield, no stop as investors shifted into bonds. macy's posted a high. mayby's reported a 31% jump in earnings. cisco changing after hours. sis skoe came in below expectations. earnings beat the street. q 2 guidance is what's hitting the stock. much weeker from what demand is with certain environments. thank you very, very much. my sis down interview with dick cheney. we'll get his disaster after
welcome back to the special edition of "the kudlow report joimpt the obama administration announced just over 26,000 people, that's it, have signed up for obama care through the exchanges. that is grim news for the already botched rollout of obama care. now, earlier this afternoon i sat down with former vice president dick cheney and i asked if it's time to scrap the entire obama care train wreck and start over, but i did begin by asking him about his own heart and his own health. it's a remarkable story. please take a listen. we're honored to be joined
by former vice president dick cheney. he's out with a new book as you know. it's called "heart." an american medical odd desy. this is between a patient, a doctor, and 35 years of innovation. welcome back to "the kudlow report." >> yes, sir. >> before i get into all of this, it's a wonderful book, i want to talk to you about your own health. you were in new york in the summer of 2011. so you were right behind significant operations. i want to make sure you and the batteries are working okay. >> they are. >> what be have you got going? it looks like a fishing vest. what are the hookups to keep your ticker going? >> i've got the control element. >> a small computer.
batteries. it's called the heart mate two. it takes blood out of the left ventricle, the pumping chamber, and moves it into the aorta. >> how is your outlook? you're snapping back at me like you did. >> 14 months ago i was in trouble. i was in end stage heart failure. i wasn't moving enough blood. i was close to the end. >> great stuff. i want to go through this. you're at death's door at least twice, maybe other times, but -- so we spoke in 250ug 11. your first operation was march 2010. >> july. >> that was a ventricular systems device and the batteries. in between, now i want to ask
you. you were waiting for a heart transplant, is that the basic? you weren't sure and your doctors weren't sure if your bot ris would have been able to talk. if they hadn't put the batteries in that night i was toast. that was july of 2010 and by the time we did that spot i had been on we called it the pump. by then i recovered. i was a very sick fella. when i put the pump in, i had 35 weeks of rehab, a lot of it on respirator, pneumonia, recovering from that was a tough task. that was the toughest thing i've had to go through. >> what kind of insurance did you have? was it adequate? >> when was. when i first went back to work
for the government, when i was 27, 1968, i got blue cross/blue shield policy standard government policy and when i was out of the government, the government didn't pay any of it and i kept it. blue cross/blue shield carried me up to the time i left the white house. and then i went on -- at that point i was 70 years old and medicare picked it up. i still carry medicare as the backup. >> that gets me into the debate about obama care. will the affordable care act work. has it changed our system? >> almost step-by-step tops i am going to grind. >> if they can't set up the website, what else is flawed in the system.
medical devices played an important part. the inflatable defibrillator, those kinds of devices have been through innovation, entrepreneurs, guys willing to take a chance and make investments and that all happened in the last 40 years. now obama wants to tax them. there's a device tax built into the legislation. terrible idea. the worst possible thing we could do. >> yesterday bill clinton really took a whack at obama and said obama should abide by his commitments. let them continue their insurance and doctor if they want to even if we have to change the law. what's your feeling? does clinton have that right? every once in a while he unleashes and he did that yesterday. is he right? >> i don't always agree with bill clinton. i think he is right.
i'd like to see the darn thing repealed and start fresh. >> obama -- >> the whole program. and i think it was pushed through in a hurry. they did everything except read the legislation as best i can tell. it's got serious, serious flaws with millions of people and other policies are being lifted, they were told they could keep their policy. it turns out they can't. they knew that. they had to know that. i think bill clinton knew, this is one of the ideas i agree with, and it's going to be very hard to do it there. >> this was the president's chair, sit by february 10th. >> to get the obama care passed he had to create aen na. never you see his pulls clashing. has this damaged obama's cr
credibili credibility? >> i think it has. not just among the imas spoke. it was the speech on obama care for five years. i wanted to have something that says, we don't have republicans for problems. i want to goat your take on something. there's sufrl war going on between the so-called establishment is. maybe you're the establishment. i'm not sure of that. what's going to happen? how can these divisions get healed. >> first of all, it's not new. basically conservatives, mostly republican, totally fed up with the current state of affairs, legitimately angry and worried about the fate of the country. and i for one am glad that battle is taking place. >> i like a lot of their
involvement and kerps. i think it's very important to listen to it concur but then drive in the lineup and i'll tell you we'll lose a lot. i don't want too see a third party develop on the downside. a republican party. >> can the republican party win unless it gets into these blue states. i don't point at distinctive, isn't it, because they're giving up 1/3 of it. go back to 2004, george bush and i carried 34 portion percent of the hue upon anything vote. that's a constituency ought to be republican. family oriented. solid values. good work ethic. the big test has that's where you see that, in the united states. >> correct. my democrat particulars friends
are always eelg ger to add that. i think we have values and principles we believe with with you i think we need to be able to do a splitter job as they did last night. the last one on this, christie argues that you can work with the step lagt tires. washington, president and the congress. if you do that, compromises can be made without giving up conservative principles. the public wants some governance in washington, d.c. why don't we get any? >> i think the problem lies with the administration who has the most radical president we've ever had in our history. i think what they stand for and represent i fund amountly give any buy-in to the republicans? my goal wouldn't be to
compromise. if somebody's given you a radical proposal that national leased the health care system. if you're going to pursue a policy of the u.s. president in the middle east, cutting it out of the defense department. compromising the answer. it's so far to the left that at the end of the day they'll recognize it. it's hard to compromise with somebody like that. >> we'll leave it there. former vice president, dick cheney. great to see you again. god bless. >> all right, sir. >> once again, god bless dick cheney. what he's been through, bless his heart. amazing story. dick cheney's new story is called "heart." the story of a patient, a doctor and 35 years of medical innovation. it's available now everywhere.
>> the bull market still on fire. the dow and the s&p 500 today. the nasdaq sits at a 13 year high by the qua. this is key, janet yellen's testimony looks to be dovish. we have andy cross and michael farr of farr, miller in washington. i don't know why, michael farr, they did this, but yellen's testimony for tomorrow was released this afternoon. going through it, she says, we're not going to make any changes. we're going to keep buying bonds. no change at all. your reaction. >> i was kind of stunned that they came out with this. she said that the federal reserve has made significant progress toward its goals but has more work to do. okay, stock market, we're going to keep the flood gates open. more cash is coming. stock market is going to go nuts.
this will create problems in her testimony because those who would oppose her have real fodder to come back on her and ask her why they keep doing it. >> andy, what's your take on this? there's no tapering, quote, unquote. no slow down in bond buying probably for many, many months. how do you read it? >> i think that's true. i don't think it was a huge surprise. i think we expected this. >> very dovish. >> but i've never seen the speech released. >> neither have i. >> i don't mind. >> it's interesting. i don't know how it got released. the point is we knew this going into it. stocks are going to rally to this although not cisco is down 11% after earnings. that's the point. there are pockets of investing opportunities that you're still going to find. this is good for stocks. we've seen valuations move up. you know -- >> a report from retailer macy's
after the close, they're seeing great signs. this is the first time we've seen a retailer with bright signs. that means the consumer thinks they'll have a decent holiday season from macy's. that's good news. if that can happen, i'm going to get bullish. >> i will say the sales growth for macy's, 3%, 20% on the bottom line. >> look it. i watched everyone on the network. we talked about the fed, janet yellen, bond buying, tapering, all of that. i still believe earnings, profits, the mother's milk of stocks is the same as the federal pump. if there was no profits and the fed's pumping cash, i don't believe the stock market would do half as good as it's done. >> no. i don't think it would do half, but it will still do something. >> that's in the market.
>> you have to keep your eye on profit margins. profit margins are at an all-time historical highs. if they go back to historical mean on profit margins, they're not going to be as high as they were if you take that historical mean, it means the price to earnings ratios are actually a lot higher than they -- >> so you're a bear. you think the markets are too expensive? >> i think it's very full of value. when green span talked about irrational exuberance at 6,000 it went to 8,000. an expensive market can get much more expensive. >> the profit margin argument, reversion of the mean, i agree with that. we're seeing good activity. i wouldn't be surprised with the margins rise. >> they did in the third quarter, they'll continue to beat expectations. >> they can't improve the margins forever. >> we have to get out. >> they have to have top levels. >> sales growth.
>> i'll leave you with this thought. you need reversion, i don't know what that means. if the level of profits continues to rise, the level of profits, that is very good for level of stocks. i'll just leave you that thought. >> amen. >> michael farr, thank you very much. up next on kudlow, obama care navigators. they're supposed to help people find health insurance, but some of them are caught on camera encouraging people to lie, cheat and steal. their income, their smoking habits. we're going to talk to the guy who did the undercover expose. great stuff next on kudlow. now it's navigators. jackie: there are plenty of things i prefer to do on my own. but when it comes to investing, i just think it's better to work with someone. someone you feel you can really partner with. unfortunately, i've found that some brokerage firms don't always encourage that kind of relationship. that's why i stopped working at the old brokerage, and started working for charles schwab.
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our next guest just announced an undercover video that took down acorn. now he takes on the obama care navigators who are supposed to help people get insurance. >>. [ inaudible ] o. james keith, great work, first of all. i love it you took down acorn. you're going to take down the navigators. lying, cheating, stealing. they're lying about smoking because they don't want to fess up for the insurance.
they're lying about their income. were those the prevailing lies that you saw? >> yeah. we did an investigation over the course of three months and caught a lot of navigators on tape. in this case they were telling us how to deceive the irs on income eligibility and on health status which is a class c felony in texas, perjury and other crimes, and we've got a lot of tapes that we're releasing. we're rolling these out one at a time just like with the acorn investigation because you want urban league, the grant recipient, to achieve the attention they deserve. >> this is the urban league of dallas. >> this urban league receives $376,000 of federal obama care money and we've done many other locations throughout the state of texas as well. >> all right. so you're going to release those
other locations in some sequence? >> that's right. if you're familiar with the work, we release one, a lot of our critics say it's isolated and then we release another one to highlight the corruption, naysayers and government who tries to frame the story and prevent the issues from getting out of there. >> james, is this basically sort of a political operation, a political black bag operation, use funds in various places in washington to get information and use it for political purposes? is that the real story. >> yeah, it is the real story. the stuff we have coming out next week is devastating. we found a political action committee working with a 501 c 3 in rural america to be giving data to a political action committee for purposes of changing the politics of the state of texas. that's against the law. what this is all about is it's
about gathering data, gathering private health care information in order to basically get out the vote. this is what people suspected to be the case about obama care. we're going to prove it when we release our next videos. if you watch the full investigation, you'll see in rural america which is a c 3 group admitting they're cross pollinating data whose mission is to turn texas blue. it's unbelievable stuff. >> the 501 c 3, who started that? what do we know about it? who's behind it? >> a guy named jeremy byrd. he's the guy who kind of started battleground 11 is a c 3 that's supposed to educate people. when we attend these political action committee meetings in
september, we found the people horl working with get covered america. this is a problem. it's highly immoral. it's illegal for them to be doing political advocacy work. >> that's right. the part of your response that really interested me is the fact that you said this guy is an obama field director, okay? that's not supposed to happen. nobody said they're political operatives. you're suggesting there are. question, are there other obama field operators from the political side, from the election campaign? are they being housed in these 501 c 3's to do the dirty work? >> yes. people didn't experiment in colorado where they turned that state blue. they sent a lot of those people down to texas to work alongside
rural america and to sign people up. they're incompetent. they're not qualified. they work with all of these political people. it's amazing. >> they're political operatives or whatever you want to call them. political field men. james o'keefe, first of all, great work. second of all, i hope to see more of you. keep it up, buddy. >> i appreciate it. >> that's it for tonight's show. that's it for washington, d.c. thanks for watching. we'll be back tomorrow. my mantra? family first.
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or men with prostate or breast cancer. women especially those who are or who may become pregnant and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these symptoms to your doctor. tell your doctor about all medical conditions and medications. serious side effects could include increased risk 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, headache, diarrhea, vomiting and increase in psa. ask your doctor about axiron. ♪ ♪ [ female announcer ] with five perfectly sweetened whole grains... you can't help but see the good.
>> from foreign governments... to the co-worker in the next cubicle, the faces of corporate espionage are all around us. >> nobody expects to have a trusted employee go out and steal one of your most valuable products. victim.y company is a potential boeing, intel, dow chemical, and ford have all been targeted. >> it all boils down to three things -- it's either money, power, osex. >> economic espionage cost american companies more than $13 billion in 2012. >> my market cap went from about $1.6 billion to $800 million in
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