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tv   Varney Company  FOX Business  January 4, 2013 9:20am-11:00am EST

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is funny ♪ ♪ she gets it on like the easter bunny, she's my baby, i'm her honey, never gonna let her go ♪ ♪ he ain't got late in a month of sundays ♪ ♪ caught him once sniffing my undies ♪ ♪ ain't too sharp, but gets things done ♪ ♪ drinks his beer,'s my baby, i'm his honey, never gonna let him go ♪ ♪ in spite of ourselves, we'll ends up sitting on a rainbow ♪ ♪ against all odds honey we're the big door prize ♪ ♪ we're gonna spite our noses right off of our faces ♪ ♪ there won't be nothing, but big ole hearts and then our eyes ♪ ♪
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♪ ♪ imus in the morning ♪ >> are you happy with a high unemployment rate and modest job creation? well, that's what you've got. good morning, everyone. 7.8% is the rate, 155,000 jobs created. sure looks like a new dismal normal to me. nearly four years after the end of the recession, there is still no robust recovery. but i do have big news from investor warren buffett. he's taking his money out of some big name companies, he doesn't think you are spending enough. does that have something to do with all the new taxes he likes
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so much? and then we have the richest woman in the world. she says don't be jealous, work more. and quit drinking, smoking and socializing. the liberal media hates her. i think she's dead right. "varney & company" is about to begin. [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ]'ll bust your brain box. ♪ all onhinkorswim from td ameritrade. ♪
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>> it's friday morning, i am determined to start with something truly uplifting and we found it for you. brand new video coming in, doctors discharge malala from a british hospital three months after the taliban shot her in the head after promoting education for girls. i think she should have won the nobel peace prize. good news, she's doing okay. billionaires like warren buffett, well, they are dumping shares of big name american
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consumer companies at an alarming rate. buffett's berkshire hathaway sold 21% of its shares in big names you know like johnson & johnson, procter & gamble, kraft. 70% of the u.s. economy depends on consumer spending and let's bring in charles payne. what do you make of an economy where buffett, very good investor, is selling consumer stocks. charles: it's an indictment, i guess, defacto, some sort of indictment against the overall economy and also, juxtapose that against the news coming into the week that he was buying this gigantic solar farm out in california. in other words, he knows he can rely on money, a lot of money consistently, at least for the next four years for the federal government, but he's not sure he can rely on the average consumer. maybe that's an indictment of all the taxes, indictment of all the regulations and the other things that he seems to advocate in his personal life, but in his business life and his investment life is completely different, always has been. stuart: and when i'm going to the grocery store and supermarket, i'm buying products
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from johnson & johnson, kraft, procter & gamble and they dominate the market and he's selling them. 27% that's quite a dumping operation. charles: it is, he's a conservative investor and should be a perfect stocks for him. stuart: i've got another story and we're following it for you today, that will be fema refusing to reimburse houses of worship for damages following hurricane sandy. citing separation of church and state and only offering loans, not grants. what about requirements under obamacare, that religious employers provide coverage for contraception and morning after abortion pills? father jonathan morris will join us at the top of the hour. we want to know what you think as always. go to our facebook page and leave a comment, please, we may read some of them live. and what we're following, the price of gold. investors piling into it as the fed kept on printing money. now the latest report from the fed says maybe the gravy train will come to an end or at least slow down.
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if the gold inflation hedge not such a great hedge if we're not printing a lot of money. next, the richest woman in the the world gives good advice to the poor. i think she's dead right. my crew disagrees, but we'll take it up in a moment.
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>> now, we're seconds from the opening bell and not expecting a huge move for stocks as we get going this morning. not expecting much impact from that jobs report, 7.8% unemployment, 155,000 new jobs created. the-- what's the word, the participation rate holding at a low. far more important in the gold market, we were down 40 bucks earlier. down about 24 bucks now and that's because there are hints
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from the federal reserve that maybe ben won't be printing as much money this year as people thought. gold is down. [bell ringing] the bell is ringing when it stops ringing we'll start trading on the big board. what's the opening trend this morning? whoa, not much of a trend. yeah, okay, we're up 4 points, now, that, i suppose you could call it a trend, not much of one, but we're slightly higher. let's get to the action, shall we? the price of gold, where are we? we've retreated from $1700, and now we're at 1647. we're down $27 today. that's a selloff. now, let's look at coin star. that's the company with all the little red boxes, red machines you see a lot of them in supermarkets where you can rent a movie for a dollar. the chief executive retiring. usually when the chief leaves the stock goes up, means he or she was not a good ceo, oh, it's down today. >> a changing of the guard for the crucial time in the company.
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inthat's one of the the reasons you're seeing a selloff of 4 1/2%, and the ceo resigned, 55 years old. and the chief financial officer steps up, and the key is that they've moved into streaming service. you notice the red box kiosks and take a movie home and now we're talking competing streaming with hulu, amazon, and this is supposed to be a growth area for coin star. stuart: i don't know about that. i like putting my dollar in the the slot and getting a movie for 24 hours, i know how to do it. >> i'm he so with you. i still bring my coins in to just drop them in the coins-- you dropped the coins in and got money out, i'm old school and agree with you. >> we have heard sony, heard intel talking about competing and now coin star and netflix and hulu. read a book somebody. stuart: oh, now, well said, young lady. well said. thank you very much indeed,
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nicole. dow jones industrials is opening dead flat. the jobs numbers, they were not exciting. should we call it the new normal. only 155,000 jobs created last month. the real unemployment rate, no change. 14.4%. no, that includes people who are underemployed, and stopped looking for work. charles, let's get back to them. you and i-- on fox business about an hour ago, we said, look, it is a new normal and it's a depressing new normal. still there? >> oh, absolutely. because we know we can do so much better. i think that's the overarching theme of all of this. the market had a move from the lows of four years ago, but the fact of the matter is, the the needle hasn't moved much. when we grasp for straws or green shoots, the automobile market is rebounding. the average car is 11 years old and anyone can get a loan, through the roof, housing market is coming back and most that have is speculators. first time buyers actually have been dipping, you know, spending
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a narrow range and dipping from month to month. so, you know, where is the traction? and listen, the taking this extraordinary action, 85 billion a month, that tells us the economy is not where it needs to be. certainly, we don't have any pro growth, pro jobs-- >> it's not a solid mentality. >> we're in a bunker mentality businesses and individuals. stuart: i hope you're not stolling, 155,000 jobs, on trend, with the recovery in progress. charles: i've read so many articles people saying this is sort of, you know, we've got an aging population and this, that. stuart: excuses that's all it is. charles: absolutely. stuart: and now, everybody who's watching this program, everybody in this studio is paying more in tax, as of right now more in tax than a week ago and you stick a tax burden on people just as you've the got 7.8% unemployment and very sluggish job growth. stuart: that's what i said the
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adp report showing a decline in very small businesses and losing jobs the first time i've seen a negative number in a long time, it does not bowed well. stuart: i've got to get time for something which is right up your street and mine, too, if not everybody else who works on this program. listen to this, some advice from the world's richest woman, gina reinhart is her name. she's australia, a billionaire worth 30 billion dollars, she's quoted in the l.a. times saying, people should not be jealous of wealth. direct quote. do something to make more money yourself, spend less time drinking or smoking, and socializing and more time working. predictbly the l.a. times is harshly critical of miss reinhart say she has a "let them eat cake" mentality. charles: i agree, she's actually saying don't eat cake, don't drink beer, don't smoke cigarettes. >> i'm going to give you a brilliant example.
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i've got a nephew, not nephew, but a god son, and live in the broncs, and parents both smoke, if they would stop smoking a pack of cigarettes and if they had put it away for josh, 157,000 thereabouts rights now. stuart: $157,000. >> we're not even talking a six pack of beer here. and i think it's something we've talked about a lot. a the some point some generation is going to have to bite the bullet, generation of social security and medicare, some group that bites the bullet on a personal level. on an individual level some parents have to do that and sadly it's the poorest parents out there. and believe me josh has a gucci belt that costs $300. he aspires that and he shouldn't have it at his age and their income bracket. stuart: let's get back to miss reinhart. worth 30 billion dollars and her family made the money in mining operations out in western
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australia, 30 billion, there she is, and people say she is a hypocrite because she didn't work for this money, contest that by the way, and she's giving people how to make their money, and i contest that. some people are giving us a hard time. the control room, i'm not contesting a fact, i'm suggesting that this woman knows what she's talking about. they're talk to go me in my ear, sorry, viewers. charles, they're talking to me and saying, wait a minute, i say, how do you make money? how do you become wealthy? you work. you work more. charles: how do you stop being poor? how do you stop being poor and add that to the trajectory, the way you do it, someone makes a sacrifice. you have 150,000, your kid goes to college and there on out, your family's life changes. if somebody was morbidly obese, stuart, eat more chicken and
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exercise four or five times a week. doesn't mean they're wrong. you can say who are you to say it, but their advice is solid. stuart: i'm glad you're here, charles, you and i against the world. and let's take a look at this picture, what's missing? how about a woman. during the election, democrats attacked republicans for waging a so-called war on women. it worked, so why do females make considerably less than men in the obama administration? and where are the women on the white house staff? look at that picture. we have a new all-female company at the top of the hour. they're going to weigh in on that one, it will be new at 10. nicole, what's this about lululemon losing today? >> that's right. downgraded over at credit suisse this morning. and you're seeing lululemon down about 4 1/2%. however, we should note, this is a company that has had quite a run over the last 52 weeks, up about 45%, but they are getting a downgrade over at credit
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suisse today. so not good news for this retailer and they have their own retail shops and they sell those great yoga pants you know that i'm a big fan and so much more. stuart: you should have seen the presents that were unwrapped in my household when i got four daughters on christmas morning. >> with their lululemon in there? >> i believe there was a couple there. >> oh, good stuff. and it has the holes for the thumbs that feel great, put them on and ready for a nice workout. stuart: okay, i just want to see the bill. nicole, thank you very much indeed. and dow industrials -- what are you laughing at. charles: you don't want to see the bill. stuart: time is money, 30 seconds, what else we've got for you today. the g.o.p. considered hiring a madison avenue ad agency to repair its image. how would a branding strategist do that? can you repair the republicans image? how would you do it? we'll ask a branding specialist. and speaking of the senate, joe biden greeting the new senators and their families yesterday. biden does a great job working the crowd. it's really good.
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but in typical biden fashion he puts his foot in his mouth right near the end. we'll show it it to you and we have a clerk in putnam county, new york, he refuses to release the names and addresses of gun owners. is that legal? the judge weighs in on it. and i'm very conscious of having charles payne sitting next to me this morning while i do the 7 early movers, he knows more than i do. nonetheless, i'm going to plow ahead, charles. charles: okay. stuart: the surgical technology company acu ray, how did i do on that. charles: it's a movers definitely. [laughter] . stuart: we mentioned coin star, the chief is retiring and plus, fourth quarter profits could be better than expected. could have been better than they were. down 3 bucks. i like-- >> it got hit yesterday, too, listen, great -- people are saying, this guy is phenomenal, doesn't know if anybody can fill his shoes. stuart: and progress software, less money coming in. nonetheless, a mover, it's up.
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better than expected results for the plastic maker, a shulman, it's up. do you know anything about a. shulman. >> i do not, but i like when the plastic maker is up. stuart: you know this one, intermune, sales of the lung disease drug will depend on timing of the european launch. well, that's dead flat. charles: they got an upgrade, this morning, too, i'm surprised it's not up more. stuart: you like the medical device, one break through and the figure is through the roof. charles: they're a one trick pony. stuart: how about entertainment company ro hchhv double e. that's up 5%. not bad. barclays, the analysts says that growth is slowing at a fast food burgers, sonic, i like those burgers, don't you. charles: well. stuart: no you don't? >> i've heard of them, but i
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don't go there often. stuart: really? i'll not pursue it. the dow is dead flat and i mean dead flat. it is up .15. how will the white house respond to the jobs report? will they issue the same statement they usually do and just change the date on it? we'll have it for you, coming up. [ rosa ] i'm rosa and i quit smoking with chantix. when the doctor told me that i could smoke for the first week... i like...yeah, ok... little did i know that one week later i wasn't smoking. [ male announcer ] along with support, chantix is proven to help people quit smoking. it reduces the urge to smoke. some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood and suicidal oughts or actions while taking or after stopping chantix. if you notice any of these stop taking chantix and call your doctor right away.
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wearing lederhosen. i think the economy approves of this, but i do not. charles: didn't you cancel your subscription? >> i did. charles: they may have come back to your view. how can the rest of the world look up to america if they become brussels on the potomac. it's somewhat of a scathing article. maybe you shook them up and went oun the subscription rolls, stuart varney, where is he? >> we got him. stuart: i was a subscriber for over 30 years. charles: anti-growth policies, this is what killed europe and see it. stuart: and it's staring you in the face for heaven's sake, charles, so good to have you. back to the morning's job numbers and joining us is paul conway, former chief of staff of
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the secretary elaine chao in the second bush administration. always a pleasure, welcome back. >> happy new year and i get i should say bon jour. stuart: the basic questions, have we now in america restored all of the jobs we lost in the great recession? >> no, as a matter of fact, this morning there were several different reports. during that 18 month period of recession, that technically ended in june of 2009, we lost 8.8 million jobs in america, only 4.6 million of those jobs have been recovered and what you're seeing now, about 150, 153,000 on average here, that is just barely enough to incorporate new workers into the work force. it's not making a serious dent in those who are unemployed or long-term unemployed. stuart: that's dramatic. i want to go back to the numbers just for a second now. right before the recession began, are you picking a number
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there of what, 8.2 -- 8.2 million jobs lost in the recession. is that what you said, 8.2? >> yeah, so, actually it's 8.8 million jobs that were lost for the recession that ended in the period ending in june of 2009. stuart: yeah. >> so since that time we've recovered back 4.6 million jobs so in answer to the question have we gotten those jobs back? the answer is absolutely not and the economic engine is not driving fast enough to build on those jobs and create more opportunity. stuart: that's the basis of our economic malaise. if you've got all those jobs, you've not returned, paychecks which are not being earned, you don't have that level of demand in the economy that you used to have so you don't have the rate of growth. that's the basic problem, isn't it? >> that's absolutely right. as you and charles have been very, very articulate in pointing out, the engine of economic growth is small business and medium sized business here in america and when you take a look at 2013 and what's coming for 2014 in terms of the health care law, air going to see a lot of hesitancy
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among employers, especially small business as they're trying to sort this thing out. the process of lighting a fire under the engine here is dampened by the administration's own policies. >> hold on a second, paul. the white house respondent to the jobs report. the first paragraph verbatim word for word from the statement last month. quote, while more work remains to be done today's employment report provides further evidence that the u.s. economy is it continuing to heal from the wounds inflicted by the worst down turn since the great depression, and it's important that we continue with the policies that work for the midding class and severe recession that began in 2007. only the date changed, paul. what do you think of that? >> well, i tell you what, it's easy to do a cut and replace on microsoft word from hawaii, but let's take this seriously, okay? we're looking at an administration that's just been reelected and the central core issue here is getting americans
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back to work, how do you create more jobs? you need at least 300 to 350,000 more jobs per month created in order to get people back to work, you've got 3 million people on unemployment benefits, over 2 million on extended unemployment benefits and millions of americans trying their best, but have dropped out of the work force and this is not the status quo that we should expect. stuart: it's the new normal and we don't like it. charles, you heard that response to the jobs report this morning from the house, your response to that? >> cynically you could say he used the auto pen for that as well. but listen, the white house is continuously trying to have its cake and eat it, too. the bottom line, at this point they could be more forthright and say these jobs numbers are completely unacceptable. stuart: they got reelected, say it, come on. charles: listen, we've got to figure something out and it's unacceptable not the country that we all know, it can't be. stuart: let's move to the market which is moving this morning. stocks going nowhere, but gold is moving as of right now the price of gold is down $23.
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1651 is where we are. a big loss for gold today. cops go into a local denny's to eat breakfast and are asked to get rid of their guns or leave. they were on duty. the whole country got a little gun crazy on both sides. we'll discuss it next. ♪ you can get anything you want to at alice's restaurant ♪
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>> a manager at a denny's in belleville, illinois asked a group of detectives to leave if they didn't agree to put their guns back in their vehicles outside. the officers were out of
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uniform, but they were wearing their badges. the manager said their guns were making some customers feel uncomfortable. denny's corporate office has apologized, but the police chief is banning his officers from going back to that denny's. charles, what do you make of this. charles: outrageous. when they call 911, shouldn't answer the calls? i googled denny's, and i would feel extraordinarily comfortable to have two officers there and some of the stories in this break alone, are they out of their mind, are they nuts? who is uncomfortable having two police officers eating breck next to them. what country, russia? >> a six-year-old boy from maryland was suspended after pretending to shooting classmates with his finger days after the newtown shootings. six years old, doing this, bang,
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bang, and they suspended him. what? >> i know. stuart: are you pulling back. charles: no, no, i can understand little six-year-old kids being upset about this than adults sitting in a denny's, i think it's gone too far, but i certainly understand where they could be a lot more uncomfortable with the situation than adults who understand, now what? you have two of the brave police officers sitting right next to you, are you nuts? you're uncomfortable about that? six years old, that's a different story, particularly in light of what's been happening. stuart: look, charles, thank you for helping me through the first hour. air going to the game this weekend. charles: that's right. stuart: which game. charles: redskins. stuart: they are he going to win? are you in the owner's box, i think you are. charles: yeah. stuart: must be fun to be rich. new at ten, houses of worship being refused fema assistance after hurricane sandy. they're going to get loans, that's all. all in the name of the constitution, separation of church and state. father jonathan morris will join us on that subject, plus, we have a brand new all female company to weigh in on this,
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where are the women in the white house? that's next.
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stuart: new at 10:00 everyone, fema says it will not give federal relief grants to houses of worship, only loans. that's for damage suffered in hurricane sandy. fema citing the constitutional separation of church and state. plus, we have for you something missing from this picture, a recent oval office meeting, no women, where are they? we will discuss the two stories and the double standards within both of them within this company today. this is the company. look at this, gerri willis is here, monica crowley is here and nicole always on the floor of the new york stock exchange. to the big board, it is a pretty flat market despite a pretty flat unemployment report, rather weak economy it shows. 16 points up for the dow,
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13,400. that's where we are this friday morning. fema says houses of worship can only get loans to cover damages from hurricane sandy, citing separation of church and state. father jonathan morris is with us right now this friday morning. welcome to the program. >> thank you very much. stuart: now what do you make of this? fema says we will give you loans for the damage to houses of worship and for what you doled out this time of emergency, but we're not going to give you grants like other sectors of the population. >> not only to other sectors of the population, but to other nonprofits, right, zoos, museums and even religiously affiliated organizations that are doing social work. so what they've decided to do is exclude any help to houses of worship. stuart: this is for jewish temples, muslim mosques, christian churches, catholic
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churches, across the board. >> no exceptions. stuart: are they saying you are not a business in the way that other nonprofits are a business, therefore, they can get a grant, but you cannot? >> well, actually businesses get loans, according to fema, but they are not getting grants. you know what's interesting though, this is the real core of the issue, is whether or not government believes whether or not society believes that churches are actually a plus for society, in a way that other, for example, charitable non-religious organizations would be. and there has always been a tradition in the united states of america that we have thought churches, religious organizations are good for society because they help make people more moral, more charitable, etc. that's why -- stuart: are they beating you up? >> yes. stuart: are you steamed up about this? >> it is unfair.
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i'm not steamed up. stuart: you have loans which you have to repay. >> yes. stuart: not a grant which you don't have to repay. >> that's right. why are religious churches tax-exempt? why? because society has -- the united states of america has decided as a great tradition of saying we believe and it is in our interests, our national and local interests that you thrive as a house of worship. stuart: okay, let me play the other side of the fence for a second. there is constitutional separation of church and state. if the government were to hand out money, give it to a church, to rebuild that church, to repair the damage to that church, that would conflict, with the separation of church and state. >> what does the constitution say about religion? everyone talks about separation of church and state, a very good principle, but what do we find in the constitution? the establishment clause that says congress should not pass a
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law to establish one religion over another. the second thing is congress should not pass any law that is going to prohibit the free exercise of religion. we don't want government to be saying we're going to build your church after sandy but this mosque we will not build, no, they should be in the exact same footing and they should apply like every other nonprofit should apply. stuart: you think the money should come from the government to repair damage to churches, mosques and temples? >> yes, absolutely. stuart: you push for that? >> absolutely, unless we think that churches are simply not a plus for society. stuart: right, now under obama care, catholic institutions, hospitals, for example, must provide birth control and they must provide morning after abortion pills. they have got to do this. the obama administration says you have got to do that. they are abandoning the separation of church and state in that instance, but applying it in the instance of sandy. >> you are exactly right. they have given this supposed exemption, but they've said it is only an exemption for houses
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of worship. but a catholic or a christian or a jewish or a muslim hospital must abide and there is no exception whatsoever. that is -- and not only what they've done, this is fascinating i think, stuart, they have redefined what a religious organization is. they said no, we absolutely respect freedom of conscience, but we're going to define a religious organization basically as a church. what about a hospital? what about a school? in other words, keep your religion inside of a church. don't bring it out because that's not a religious organization. stuart: do you think that the president is hostile to religion? >> i think he's confused on this issue. stuart: confused? >> yes. stuart: you wouldn't go so far as to say hostile? >> i'm not going to judge his soul from a distance. stuart: has he cancelled prayer breakfasts? >> he's done a lot of things not just in terms of prayer and religion, but i think basic fundamental traditional values in the united states, he has
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gone against in a way that i'm not very happy about. stuart: i sense you are turning the other cheek to coin a biblical phrase, are you not? sometimes i would like to see a more muscular response on the part of christians to the attacks made upon them. that's what i would like to see. i'm not seeing them. >> i agree. we need to do a better job. i'm not going to get steamy or angry. i know that's what you want me to do. stuart: no. i repeat, what i want is a more muscular response on the part of christians because we -- i'm a practicing christian, i think we're under attack all over the world. >> i agree. stuart: i want a more muscular response. i don't mean to clench my fists like this. >> how about the most devastating i think actions or inactions of the united states government right now is not standing up for christians in the middle east.
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stuart: well said. >> what we're seeing here is a return to the genocides of the early 20th century getting ready to happen. absolutely. stuart: strong stuff. >> i was in syria a few years back, a million christians had fled iraq to get to syria. where are those million christians going -- what are those million christians going to do right now? if we start paying these governments to abuse and to persecute minorities. >> the christians in egypt? they have the same problem. >> absolutely. stuart: will you please say this forcefully to the new arch bishop of canterbury perhaps, who could use a perhaps more muscular approach. father jonathan morris, everyone, thank you very much. >> thanks stuart. stuart: good stuff. here's what you are saying about this on our facebook page. first of all, betty, she doesn't think the churches should get
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the money. quote: why should any religious organization get any federal money? they don't pay any taxes into the system. why should they get any out of the system? hold on, you can respond in a second. donna says, i think we all know now that the government picks and chooses who and what it wants to survive regardless of what the constitution says. and this from amanda: i didn't see this as an issue after katrina. the just shows the double-standard. last word from you, ten seconds. >> the first e-mail which i think is the most confused e-mail -- stuart: betty. >> what about all the other nonprofit organizations that are getting assistance? stuart: but she's got a point. >> those nonprofits are not paying taxes either and they are getting aid. what they have done is exclude only houses of worship from that aid. stuart: all right. >> what they are saying is -- what the government is saying is because you know what? that's actually not good for society necessarily. that is a change in tradition.
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stuart: they are killing me, we have run so far over time. look what happens. >> you told me to yell and scream. stuart: back to nicole, transocean pays out a settlement but the stock is up. can you tell me why? nicole: i can't get mad at father john at all even though he's cutting into my time. tacking on to yesterday's gain of roughly 6%, so we've seen two days of great moves here for rig, and that is because they are settling with the department of justice, 1.4 billion dollars, this is the pay out that they have now settled -- they actually set aside more than that. 1 billion in civil penalties, 400 million for criminal penalties and this is obviously all relating back to the big gulf spill in 2010. there were 11 deaths associated with that. we should note that halliburton which actually did some of the cement work on the well actually they have not done any settlements yet. so continue to watch
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halliburton, but transocean shares are doing very well, three days in a row. stuart: not bad at all, nicole. thank you. should we call it the new normal? the labor department reporting this morning only 155,000 new jobs added last month and the real unemployment rate, no change, 14.4%, that includes people who are underemployed or stopped looking for work. monica, tell me. >> the unemployment rate is 7.8% which is exactly where it was when president obama was sworn into office. their slogan forward really has extra resonance now. as you mentioned, the actual unemployment rate is 14.4%. this is disastrous. 155,000 jobs, if that the number is to be believed and if it stays without revision, last year and the year before, 2011 and 2012, the average monthly jobs gain was 153,000. this is not a dynamic economy, not a growing economy. stuart: and yet we have the white house releasing verbatim exactly the same statement today
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as they released at the november report. they changed the date, that's it. first paragraph, verbatim, same. >> you are calling it the new normal, this cannot be our new normal. we can't settle for this. this doesn't work. this country can't run on 7.8% unemployment. it's only been five, six years since we had 5.2% unemployment. think about that. the world was a different place. people forget, they think this is just the way things must be. no, it doesn't have to be. stuart: we have settled and we should not settle for this. >> that's right. stuart: i want to take just 30 seconds because the judge is sitting here. i was making a comment that i want a more muscular response on the part of christianity to the attacks made upon us. and i believe i'm going to give you 20 seconds for a muscular response. go. >> i will tell you what francis cardinal spelman would have done, the great arch bishop of new york in the 40s and 50s, ex communicate catholic members of congress who voted in favor of
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obama care, maybe even put them under interdict which means no mass can be said and no sacrament can be distributed in their presence. that's a muscular response i would like to see. stuart: i wouldn't go so far to reintroduce the spanish inquisition. >> i don't want to go there either. stuart: the obama administration released its 2012 regulatory agenda on the friday before christmas, when nobody was paying attention. now, we're finally seeing what these new regulations will cost. according to initial reports implementing these regulations will cost 123 billion dollars and completing all of the paperwork requires roughly, roughly 13 million man or woman hours. the administration passed these regulations without congressional approval. the judge has something to say about that. >> well, congress of course can dislodge these if congress reads them. now we know congress won't read them. stuart: you couldn't read it. >> the people who distributed it indicated no human being can read them, you are talking millions of pages of very
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technical regulations. but congress could defund the regulatory authorities that will enforce them. it will never do that. that requires the president's signature. congress can without the president invalidate these regulations if it can isolate them. both houses of congress would have to agree. but we really have congress to blame because congress has given regulatory agencies an anomaly that doesn't exist under the constitution, vast and unlimited authority to regulate private personal and commercial behavior in ways that congress itself could never do. stuart: you know, i'm beginning to become a bit more libertarian because this bureaucracy, this bureaucratic approach to running the country just doesn't work. >> you know in my world the conversation you had with father jonathan wouldn't happen because fema would be unconstitutional and the government wouldn't be in the business of bailing people out who are underinsured or failed to insure their own properties but that's another debate for another time. i have to go home to new jersey. i don't want a riot in front of my house. [laughter]
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stuart: here's a question for you -- [laughter] >> sorry. stuart: can i get a word in edge wise? >> please, it's your show. stuart: it's varney & company. >> let him speak for heaven's sake. stuart: please put this picture on the screen. i want you to tell me what's missing. this is president obama at the white house. do you notice something? there are no women in the picture. in fact women get paid less than men in the white house in the obama administration. there's no outrage about this. what about the war on women? monica and gerri react to this next.
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stuart: take a look at stocks this morning, just an hour -- what's this about 45 minutes into the trading session, a couple of hours after that jobs report was released. we're going nowhere for the market thus far. 16, 15 points higher for the dow. we have coin star, that's the company that has those red machines where you can rent a movie for a buck. projected better fourth quarter profits but its chief executive is retiring. must be a good ceo. the stock is down on that news. they want him to stay. the finish line, the chain store that sells sneakers reported lower than expected profits. it says it was hurt by higher costs, lower sales for its on-line business. shares of finish line are down 3%. endo healthcare saying revenues from its painkiller could --
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[inaudible] -- because of competition from generics. endo is down 3%. in most states with every personalized document to answer questions. get started at today. and now you're protected. ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ]'ll bust your brain box. ♪ all onhinkorswim
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from td ameritrade. ♪ stuart: one more time, take a look at this, please. this is a recent official white house photo. you might notice something is missing from the staff meeting. that would be women. according to the 2011 annual report on white house staff, the white house paid female staffers 18% less than their male colleagues. gerri and monica, there's no outrage about this, and monica, i'm looking to you, i expect to see steam coming out of your ears and i'm not. >> well, you will get steam out of my ears on the pay issue because this is a very liberal administration. liberals for a long time have been arguing equal pay for equal work. so that issue in and of itself is an outrage. how they have been able to get away with it for such a long time is beyond me, without any kind of complaint from women's groups. in terms of seeing all the men
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there and very few women staffers, to be fair to the president, his top two advisors are his wife michelle, and value valerie jarrett, two women. he also appointed hillary clinton and lisa jackson. there are a lot of women in his cabinet and also two female supreme court justices. you can disagree with him politically as i do but he's made a lot of female appointments. they should be asking for more money, however. >> here's my point, it's not just about the titles people have; right? it is about access to the president. kathleen sebelius, no matter what you think of her as health and human services secretary, a basketball star as an undergraduate, never been asked to play basketball with the president because, you know, he has these pick-up games with staff, they do it all the time, she's never been invited. stuart: never?
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>> it is well known inside the cabinet that women's voices are less well regarded. stuart: okay. let me make this comment. i think that politics in america has been -- am i so wrong, monica? >> no i agree with you. i think you are absolutely right about that. but remember, president obama -- and you are right to point out he doesn't invite women to play golf with him. gerri willis by the way is an awesome golfer. she's amazing. i'm not kidding. but he is surrounded by women. he has his wife, his mother-in-law, his two daughters and valerie jarrett is literally his closest advisor. there are women around him who have enormous access to him. >> what about christina romer who was an important voice in the economy, she was literally shut down and the president
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chose to listen instead to larry summers. that's not nothing. i think a lot of women -- they have tried to bring their concerns to the floor. stuart: should there be more women in that picture which we showed because they are women? >> no. because they're running important things. why isn't hillary clinton in that picture? stuart: it was a staff meeting. that picture was an anomaly probably. >> could be, but valerie jarrett could have been in the picture. >> maybe that picture was taken to throw you off the scent that valerie jarrett is actually running the country, which she is, by the way. stuart: i love that hand gesture, which she is. now this, hold on, the richest woman of the world of australia, tells people to start drinking, smoking and work harder. that's what she says. that's the advice to people. but the l.a. times blasts her for saying that. i've got a take on this. and it's next.
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-- tells people to stop drinking, stop smoking and work harder. the l.a. times blasts her on that. i've got a take on this next. what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally.
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>> i tell you what, it is easy to do a cut and replace on
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microsoft word from hawaii. but let's take this seriously, okay? we're looking at an administration that's just been re-elected and the central core issue here is getting americans back to work and how do you create more jobs. you need at least 300 to 350,000 more jobs per month created. stuart: all right. that was former labor department official on the jobs report. came up in our last hour. he was responding to the white house statement which was virtually unchanged. it was verbatim from the previous month's statement. except for just a couple of words here and there. all they did was change the date. okay. time for a market check. still going nowhere this friday morning despite the jobs report. 19 points up for the dow. but we have the restaurant chain sonic which i -- my daughters know it quite well. it is a loser and i want to know why, nicole. nicole: your daughters know it quite well. i have to say, i have never been to the drive-in restaurant chain sonic. it is one of the smaller cap companies we follow, it is under a billion dollars. but today the stock is down 4 1/2%. revenue from the drive-in is
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down over 3%. while traffic and sales have been decent, you do have some analysts coming out now over at bernstein and talking about the fact that the outlook not looking too great for them. so that's something -- i'm sorry, bernstein at barclays was talking about the outlook and saying the comparisons look tough going forward. stuart: all right. sonic 10 bucks a share, down 4%. thank you very much nicole. republicans have a problem, no matter what they do, they're labelled the enemy, the party of no. the g.o.p. needs an image makeover, doesn't it? what exactly should it do? we ask a branding expert. that will be coming up in a few minutes. the world's richest woman is australian gina rinehart is worth 30 billion dollars. her family made the money in mining. she says the poor should not be jealous. they should work more. here's my take: the los angeles times brings us this story and
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they offer withering criticism of ms. rinehart. they do not like her and they detest her opinions. so first, let's see exactly what she said. i'm quoting directly, if you are jealous of those with more money, don't just sit there and complain. spend less time drinking and smoking or socializing and more time working. the l.a. times dismisses that. and why are people poor, ask ms. rinehart? because of socialists and anti-business policies. predictably the times goes ballistic on that one. however, does she have a point? i think she does. is there any doubt that poverty in america is often the result of degrading personal behavior? is it not obvious that single parenthood is a passport to poverty? that getting drunk or stoned does not enhance job performance. and since when has socialism delivered prosperity?
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anyone who defends work responsibility and thrift is immediately a condescending snob in our society. has the left called out the super rich people who have tried to avoid higher taxes they insist other people pay? certainly not. when a rich woman offers a candid opinion, she is toast. i would urge the strivers of this world to ignore the establishment media and take good advice from people who know what they are talking about. can your hearing aid do this?
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i agree with the australian gina reinhardt that the portion complain, they should work. you want to disagree? everyone in the control room has been in might years and i am wrong. gerri: you are totally right. you have to work. [talking over each other] >> i am from a very pour part of the country, western north carolina. people are often on the goals through no fault of their own, people to change that, people who go to work, people is that companies are wealthy and prosperous and very happy. stuart: the people in the control room are not disputing that i am right but the source which is gino reinhardt who inherited much of her money and they say that makes for a hypocrite. >> a lot of people who inherit a lot of money squandered their inheritance, an end of not working, they become loath because they don't have to work.
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she brings extra credibility to this argument because he inherited a fortune but didn't sit on her bum, she went out and build the business and expanded it and does go to work every single day. work brings dignity to human brains and meaning to human beings. what i find particularly criminal about socialist policies is it this incentivizes hard work, disincentive baez's achievement and reward and incentivizes you to sit on your bum. she is saying no, i u.n. human dignity got and work. stuart: thank you so much. what a welcome addition you ought to this program. take back control. the republican party looking for a makeover. according to politico during the fiscal cliff fight some house gop lawmakers suggested each member kick in $5,000 to hire a big madison avenue to craft a better communications strategy. john boehner shot down the idea but the question we want is can
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you rehabilitate the republican image and it you can, how would you do it? let's bring in a branding strategist on this program. welcome back. can you rehabilitate the image of the republicans at this moment? >> brand can be rehabilitated. stuart: it is not a total of health struggle. you say it is possible. >> it is possible but it is a big uphill struggle. if we look at 30 years ago 30 years ago the republican party had a clear brand, three 4 pillars, strong on defense, lower taxes and an iconic leader who could say when the country for the betterment of the country you had to balance a strong ideological sense with common-sense investing in the american people. stuart: that was 30 years ago. >> today fiscal restraint, can claim that, earmarks, deficits. consensus on foreign policy? can claim that. lower taxes? not as of last tuesday.
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iconic leader? arguably the only iconic leader the republican party has right now is chris christie, arguably and he is calling the party out for what they have, brand position has become which is one of obstruction, one of we can't let the other guys have a win. ideology be damned, the good or what is best for the american people be damned as well so the challenge is for the party and the disparate parts of a party to come together and say what do we stand for? reestablish what the core principles are and then do what every brand needs to do, credibly communicate why we are different, how we are different, why that is important, and why you should care and why you should choose this direction. stuart: when you were saying in the commercial break wait a second, this is the party, the
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republican party has ruled on taxes as you just pointed alice, they are about to roll on emigration and then control. and spending. but what core principles can they retreat to and say this is us? what have they got? >> what they need to do is look inside first. this is why i think it is good they didn't hire a communications firm with a communications firm doesn't have anything to communicate we can all look at advertising. we look at advertising together that didn't actually communicate much in terms of quote principal, just we have to run ads in the public eye. the challenge they face is how to relate to voters on things they care about. how will we get our message. stuart: they hire you, $1 million, bayless out. first thing you do is what? >> who are we designing for? what are the core principles? stuart: they don't know what the core principles are.
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gerri: everyone is intended to get together like herding cats. everyone has a different view what the party is? how can you bring that together? >> corporations, i spend my time in the business realm, political realm, let's look at making the analogy between made the analogy to hp, i was on your program when the new c e o was announced, the execution problem, you have a strategy problem and the strategy problem is you need to define why this disparate parts of h p come together to create something meaningful and -- stuart: when is it possible with the republican party? gerri: generally true that when you reel militate of brand the brand has already hit rock bottom. the candy bar companies have spoken already so they have no choice. they are bankrupt and have to do something so republicans keep losing. they lost control of the house in 2006 and lost the white house in 2008 and what the white house again, they keep losing, they keep breaking and yet they don't get to that point where they say
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we are broken and we have to take a step back, they keep going along. meet the new gop leadership, the same as the old gop leadership. what does it take for a political party even when they are broken to get to the point you are talking about? >> unfortunately what they have done is in absence of the ability to firmly established this is what we stand for today versus what we stood for 30 years ago and this is our compelling vision around how that is going to positively affect the nation -- stuart: may i suggest one thing? the republicans are -- become the party of growth. what is wrong with that? growth leading to prosperity. gerri: economic freedom. stuart: growth and prosperity. that is the party, that would be winning. what do you think? >> i definitely think that is a direction that would play and have a core audience that could rally behind it. stuart: i will take money. i will take the money.
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thank you very much. appreciate it. microsoft was hoping for a big holiday with the release of its new windows 8 sales, joining us now with more on what is wrong with microsoft is roger k. of en point technology associates. we were discussing, you may have heard this, the gop, the republican party really at rock bottom. can you apply that to microsoft and say they too are at rock bottom and going nowhere. can you say that? >> i don't think there's rock bottom. they have a viable business and are making money, billions of dollars of profit. it is not really bottom bottom, but their heading in a bad direction. they used to lead the industry and basically are losing fight after fight against companies like apple and google. stuart: full disclosure i own stock in microsoft so i have got a dog in this hunt but you spelled out in an article
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various areas where microsoft is just not playing the same game as everybody else. mobility, mobile computing, how badly off are we? >> i don't know if you want to hold that position, but -- in terms of mobility, high mobility is a category that now contains smart phones and tablets and ideally any device you can carry with you all day long and never have to plug in and is a full computer. in that category microsoft has done badly. windows phone 8 is the new operating system for phones and that has been used by nokia to make the luminesce that started to be discounted which means they are not selling that well and on the other side of it you have windows 8 which is the new o s for regular pcs that specialize in tablets which is the device that apple has done so well with and google is beginning to do well with.
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what you are seeing is not many sales of those either, windows is split. stuart: they say it is just a start, expected to break into the top of the market from the word go. it is a start. not only a good start but too far behind and can't catch up. >> something like that. remember the start of the iphone. people were overwhelmed by our incredible was. there were lines going everywhere. this was kick the tires, see how it feels, not really buy anything like that. people are not embracing the new platform. of course people over time accept the new software but not a provision beginning. stuart: last one, steve ballmer should resign? >> he has been married decade, the stock has gone sideways as you know. they have had a lot of
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departures of key top executives under him, basically almost no one left from the original team. he has not been an inspiring leader as far as i can tell. if you look at the composition of the board there is no one but bill gates, the chairman who can step in and say it is time to bring someone else in and i hope he does that. stuart: when we started this interview microsoft was $27 a share. as of right now ridge just dropped below $27 per share, it is down $0.16 and i hold you responsible. thank you very much indeed, you can come back any time. newspaper publishedes names and addresses of handgun owners in suburban new york counties. those gun owners were outraged. now the same newspaper request a list of gun owners in another county in new york. the county denied the request. next, we get the judge's reaction to this. judge napolitano: we have gotten 327 phone calls.
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not one in support of the newspaper printing this information. i can tell you people who call me are very emotional, very -- that we made this stand. is good for the people of suffolk county.
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stuart: business brief, december jobs numbers released this morning in the real unemployment rate unchanged, 14.4%. that number includes people who are underemployed and those who stopped looking for work. at 155,000 jobs, not good, this is a hectic job growth rate, it is the normal. take a look at the big board. not much reaction. we are down 11 points. trans ocean agreed to pay $1.4 billion for the gulf oil spill in the gulf of mexico. that was 2010. the company admitted the crew of the deepwater horizon was partly responsible. stock price is up this morning. they expect a bigger settlement.
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more fallout from the newspaper that published names and addresses of registered gun owners in two new york counties. and neighboring county club says he will not pop up the information. the judge on that in a moment. [ male announcer ] where do you turn for legal matters? maybe you want to incorporate a business. orrotect your mily with a will or living trust. and you'd like the help of an attorney. at legalzoom a legal plan attorney is available
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in most states with every personalized document to answer questions. get started at today. and now you're protected. stuart: in two new york counties, a newspaper, the journal news obtained and published addresses auld gun owners, people were not happy. one clerk in a nearby putnam county in new york is refusing to go along. he says he will not release the names and addresses of gun owners in his county saying it would, quote, put the public in danger. here is returning for his second performance judge andrew napolitano. i don't agree with this, i am not giving out, i have the records and i am not giving them out. i put it to you he could be compelled to release them if somebody files suit and says that is public information and
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we wanted. judge napolitano: he could be compelled to release them because there's a statute in new york state that specifically makes this information public. in my view the statute is unconstitutional and was written in an era when public revelation of this would not have likely brought about harm to the people who got these gun permits. in my world just like there would be no fema there would be no gun permits. would not need a propitious -- permission slip from the government to defend yourself. stuart: when you allow anybody to buy any denis judge napolitano: yes. [talking over each other] judge napolitano: the only way to stop this violence is lawful use of guns. we are not children or people that are not mentally sound but i would not give the government discretion to say yes to my neighbor and no to me. stuart: what about the size of the gun? can they have a bazooka? judge napolitano: the reason we won against george iii as we had weapons equal to the king. stuart: ask this question
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seriously -- judge napolitano: once you to have a right to buy a bazooka. [talking over each other] stuart: you can argue that. judge napolitano: who is sovereign? the government or individuals? stuart: watch and the government put restrictions in the name of safety on people loading tanks, bazookas -- judge napolitano: the constitution implicates freedom. that is why we have the second amendment which prohibits the government from putting restrictions on. nevertheless in new york as in every state gun permits are required. question. just because they give the information to the government like information about myself does that information become public? answer no. i give the government my irs returns. those returns the government is required to keep secret. it can only reveal them if a judge orders them to do so. gun permits ought to be in the same category but they are not. in new york they are not. in other states they are. why should they be in the same category? the right to keep and bear arms
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in america is a fundamental right. the government's restrictions on it should be minimal. i know that everybody in the world is going to know that i own a gun that will chill my rights, give me second thoughts before telling the government truthfully that i own a gun. that will cause people to acquire guns illegally so the government doesn't know. stuart: i am with you. judge napolitano: criminals are not dopes. they know what houses to avoid. avoid the houses with guns. stuart: would you say you can have any gun you like? do you buy that? judge napolitano: trying to put in a -- >> caller: -- judge napolitano: at which they have won that work. stuart: i believe you went around shaking hands with trees. sandra: i understand where the judge is coming from the society has changed but i understand the
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constitutional argument that because it is the second amendment right, restrictions placed on the ownership or acquisition of guns by the government should be limited. we do have waiting periods, background checks and things to try to do the best we can to make sure those guns don't end up in the hands of madmen and so on. is the system perfect? of course not but what we're looking at because we have seen so many gun rampages is the federal government now coming after the very essence of the second amendment rights and protections which is coming after law-abiding citizens and their rights -- judge napolitano: he predicted with your prior cast the republicans would cave on gun-control. if they do they will be swept from office, swept from office. this is a core belief. patriots, libertarians, small government people right to keep and bear arms. stuart: when you don't think society can shift its opinion in light of major events which affect -- judge napolitano: when it comes to fundamental liberties
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absolutely not. the worst environment in which to talk about fundamental freedom when people are hurting that someone else's abuse. stuart: can you win an election if you put guns into more people's hands? judge napolitano: in certain parts of the united states yes. stuart: not the electoral college vote. judge napolitano: why do we send republicans to congress? to cave and become like democrats or to vindicate the values we believe in? sandra: and stand for the constitution. the second amendment, the judge and speak to this, the second amendment was put there less about a person's ability to protect their lives and property, more about protecting themselves from the government. stuart: the argument between the judge and i is always the same, the argument between political reality which i think i represent and the pure principle of the constitution which you represent. that is the clash between us. judge napolitano: well said. [talking over each other]
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stuart: thank you very much indeed. have a great weekend. say what you want about joe biden but he is a seasoned politician even when he goes off script. we give you this, his latest gaffe actually, in a moment.
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stuart: quick update, fox news
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reporting police chief in belleville, ill. has lifted a ban on his officers going to the local danny's. manager at that disney's asked some detectives to leave if they didn't put their guns on their cars. despite an apology from a corporate office the police chief and his officers from going back, that ban has enlisted, short-lived the. take a look at this video. joe biden wants to do what most politicians are good at doing, big politicians. joe biden greeting family members at the swearing in of the senate's, doing very good with little children, mussing his hair, and that is good politics. >> this is why joe biden is so well liked, he very personable and very warm and has politicians, kissing babies but authentic about it.
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stuart: he is good about it. hold on, everybody, one brief shining moment. joe biden is joe biden and he then went on to actually say something else. watch this. >> going to be frisked. if you say that to somebody in north dakota they saw think it is the first. un in trouble. stuart: when you're going to be frisked, inappropriate, it'll jarring. >> really dodged a bullet with sarah palin not being vice president. stuart: very funny, sarcasm. he was referring to a man or senators, wasn't he? >> yes. he might be frisked -- my point about sarah palin is a real one. if a republican vice president, dan quayle had made this kind of comment it would be a national
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