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tv   MONEY With Melissa Francis  FOX Business  October 17, 2013 5:00pm-6:01pm EDT

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paid clicks. short time ago we told you the september jobs numbers never came out because of the government shutdown. they will be released october 22nd. david: next tuesday. is it too old, too late? we'll see. probably have an effect on the market. melissa francis is next. melissa: i'm melissa francis and here's what's money tonight. get ready to might the word's first smart rifle. it can supposedly make a novice shooter an expert rifle. it is not cheap. it costs 22,000 bucks. the company ceo is here to show us what it is all about. plus, sticking his thumb in the government's eye, mark cuban is cleared of government charges. now he is taking a swing at sec. is it time to rein the agency in? broadway crowns and all new king. stay tuned to find out the answer. seen when they say it's not it is always about money.
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melissa: starting off tonight with a bang. the world's first smart rifle, yeah, we're talking about a gun that would look out of place in a james bond's arsenal, it is so advanced. new tracking point rifle is said to turn even the most novice shooters into expert snipers for a very expensive price. at least $22,000. it has sophisticated software that allows the gun to decide when and how you should fire. costs a lot of money. sure to cause major blow back. we're going straight to the source. we have tracking point's ceo. welcome to the show. you say it can turn anyone into a sharpshooter? how? >> basically what we do, we use technology in order to amplify a human's ability to engage targets. if you look four reasons why people miss, they don't really know how far away the target is, don't assess environmental
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conditions properly, they don't know how to control their trigger pull, and they don't use the best equipment, rifle and ammunition. there is lot of places where a guy can miss. that is why most shooters are comfortable only shooting 2 or 300 yards. melissa: show it to us. i understand you have it there. >> i do. melissa: not exactly travel size. that is the big version. >> this firearm right here can fire out to 850 yards. you basically can shoot an eight-inch group at 850 yards. you have all the different technology from sensor arrays to tracking again and ballistic calculator in the back and feeds to head's up display so the shooter can see all the relevant information he needs to make the shot. melissa: you can pull the trigger anytime but the gun doesn't fire until it locks on target, is that how it works? >> user designates the target and tracks the target up to 10 miles-an-hour. when the shooter wants to fire all he has to do is squeeze and
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hold the trigger that arms the system. the round won't release until the shooter wants to hit and ultimate target are aligned. melissa: ultimate precision of guns make a lot of people really nervous. what safety precautions do you have in effect to make people more comfortable? >> we give everyone of our owners, we have 100 out there in hands of responsible gun owners around america. we give them option of pass code, much like the phone. when they store the rifle and gone through the right background checks to acquire it in the first place and store it and want to prevent it from being used if someone steals it. they have a pass code that locks the out advanced functionality. it will allow the firearm to operate but won't allow it to be precise out to long ranges. melissa: they cost $22,000. they have already sold out. who is your average customer because that is not cheap? >> well we have a wide variety of customers. we have some collectors and long-range shooters. we have guys that go on safari and go on some hunts around the
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world for grand slam sheep, for example. these are not inexpensive hunting trips. they are $50,000, 75,000-dollars hunting trips. we have guys in texas who are ranch owners with predator control problems or need to cull deer. there is wide variety of use cases. in addition we have law enforcement and government interests. we sold a limited number of units to different government entities for test and valuation. melissa: really? like who? >> the u.s. army in particular expressed interest. other entities in the texas law enforcement community have taken a hard look at this. melissa: interesting. do you have any plans to come out with a cheaper model? >> we already are working a partnership with a large gun company, remington arms, to come out with a less expensive, smart scope model. and really our costs are really based on range. the amount of precision and technology it takes to attain a longer range shot is much more costly just from what it costs us. so the remington product will be
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good to 500 yards. where as our premier products go to 1200 yards. melissa: one of the controversial things about the gun, it has wi-fi transmitter to transmit livid yo from the scope of the gun i understand it to an ipad. it allows you to up load that to social media, whether it is facebook or you can post it on youtube. i mean are you worried about the implications of some of these applications and what that would mean and the temptation for this to fall into the wrong hand and for, maybe younger people to think of this as more of a game and to post videos, you know on youtube that are dangerous, inappropriate? what kind of actions would it encourage? how do you respond to critics that say those things? >> we look at social media aspect as a benefit. they put a go pro on helmet when they go snowboard aring or skiing. they share videos of any outdoor experience they have. we don't look as shooting sport
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any different than any other experience. it also make as more collaborative experience w streaming video you can teach your son to hunt. teach him to hunt properly and safely and taketh call kill shots on animals. that is tradition of hunting to not wound an animal that we feel this technology has enabled. melissa: especially when you look at the media reports about this gun online. when you talk about making anyone a sharpshooter, immediately get nervous about idea when you see events what happened in the naval yard in washington. do you really want to be able to make anyone into a sharpshooter. how do you respond to criticism you received in that direction? >> well there, guns are inherently dangerous. there will be a very small portion of the population whether they use a gun or some other tool will seek to do others harm. there is also a huge market of responsible gun owners in this country which i consider myself one. more than half this country owns guns for different purposes. those are the type of people that don't commit crimes. buy guns legally and do legal things with them. that is the market i'm
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addressing. >> i understand you sold out. how many have you sold and do you have orders for more? >> yes. we've sold hundreds of them. we'll probably deliver between 350 and 400 this year. we'll, more than likely we'll sell between 350 and 500 by the end of the year this year. melissa: jason, wow. fascinating stuff. thank you so much for coming on. >> thank you very much for having me. melissa: okay. so congress finally passed a bill. president obama signed it. the world's biggest economy avert ad historic debt default. the government is back to work. now what? what do the next 100 days have in store for your money? fox news's mike emanuel is live on capitol hill. mike, what do you think? do you feel better about the situation today? everything all fixed? >> melissa, no. the government is reopened. the debt crisis is on hold for a few months. the senate is on recess a week 1/2. the house is able to work a couple of short weeks. after sounding very bipartisan last night, praising house speaker john boehnerings, the house democratic leader sounded
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like she was back to her feisty self. >> it took the speaker 16 days for the take yes for an answer. this sir responsible. no, this is reckless. this is reckless. to see last night when 62% of the house republicans voted against their own number, voted to, against opening up government. >> the tone was more hopeful, more bipartisan today as the chairs of the new budget committee that is, that's assigned to hammer out a deal, paul ryan, the republican congressman and patty murray the democratic senator, met today for the first time. they met off the senate floor for breakfast. they have to report back to congress by december 13th. so less than two months. bottom line, murray says the group's goals are more limited than the failed 2011 super-committee. here is ryan on his vision for the talks. >> we had a very good conversation. we decided to discuss how we're going to proceed over breakfast. we want to look for ways to find
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common ground, to get a budget agreement. our goal is is it good for the american people to get the debt under control, to do smart deficit reduction and do things we can think can grow the economy and get people back to work. those are our shared goals. we'll try to find how to reach common ground and achieve a budget process that achieves that. >> as expected democrats will want new tax revenue as part of a deal. republicans want to do entitlement reform. why many people are pest mission tick they will be able to reach agreement. -- pessimistic. melissa: nah i think it will be totally different this time. mike, thank you very much. >> thank you. melissa: mark cuban doesn't leave quietly, you ever notice that. he slams the u.s. government after being cleared of insider trading charges. is the sec out of control as cuban claims? we'll hear from his lead counsel. is wall street falling into a financial slump? goldman sachs's grim
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third quarter, should give people plenty of reason to worry. we'll have all the scoop on wall street. more "money" coming up. mine was earned orbiting the moon in 1971.
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melissa: mark cuban scored big, taking on the sec and winning. his five-year battle with the feds ending when a jury found him not guilty of insider trading after deliberating only 3 1/2 hours. given the high-profile cases sec has been going after as of late, it begs the question whether or not we'll see major changes. his lead counsel joins me to weigh in. 3 1/2 hours. does that make you feel vindicated? >> boy, it sure does. in fact in that 3 1/2 hours they took a 30-minute break. so it was really less than three hours. melissa: what do you think pushed them over the edge? >> well, it starts with the fact that there was not one fact that really showed that mark cuban did anything really wrong. so it wasn't anything that pushed them over the edge. they didn't have a case to begin with. melissa: you know, at the same time, a lot of the problem was that he is very outspoken, you know, and anyone lately, whether it is jamie dimon, you know anyone who has been outspoken
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against the government recently has really felt their wrath one way or another. would you tell mark to change he has based as a result of what happened? if you feel like this was a witch-hunt, would you tell him to tame down the attitude? >> yeah, not a chance. even if i told him he wouldn't do it. and, you know, why should you change who you are simply to avoid a regulator's witch-hunt, scrutiny? mark cuban is mark cuban. he is going to be mark cuban. and he should never change. melissa: what do you think this demonstrates to the rest of the country or the rest of the trading world? do you think the sec is out of control? are they on a witch-hunt or is it too strong? >> well, i'll tell you, whether they're out of control or not, i'm not here to judge. they do fine work. they do have some fundamental issues. melissa: like what? >> they need to filter their cases better. this case was a -- from the
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beginning. they tried to put lipstick on it. they tried to put lipstick on it and it was still a pig. they tried to put a dress on it and it was still a pig. this was a pig five 1/2 years ago and the jury said it was a pig day 1/2 ago. melissa: i love your analogy, specifically what were they missing? let's break it down. he received a phone call from the ceo of a company. he sold the stock immediately afterwards. to the naked eye it looks like he got some sort of insider information and immediately traded on it. to a regular person seemed like something went on that should be pursued. go ahead. >> let's start with the premise of what insider trading normally is. melissa: yeah. >> it is a person out looking to get information and then seize upon it. mark cuban was at a charity event minding his own business, not expecting any calls, not doing anything. he told the ceo of this company, and he told the entire world a month 1/2, two months before, that he hated pipe offerings.
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this company, had closed their pipe offering. it was june 2th, the day the pipe was supposed to close. it was gratuitous offer to mark cuban. they called him an hour 1/2 before the pipe offering would close, knowing that he hated pipes. knowing he didn't want this information. knowing that he was going to sell. in fact it was said in emails by the ceo he was going to sell and that is exactly what he did. so the whole notion that mark cuban got information and then did something with it, he didn't want this information. melissa: for the rest of the world who may not know what a pipe offering is or know what you're talk about, they basically told him they would issue more stock and dilute his share. make what he had less valuable. to the naked eye he found out he found out his stock was less valuable and he went and dump it. why is that not the case? >> well starting with the fact that before mark cuban even got the call from the ceo,
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5.6 million shares of stock of traded that day. the entire marketplace knew that by the time mark cuban was called, the market had already known and reacted to the fact that they were doing a pipe announcement. melissa: yeah. >> that is because, that's because the investors, they hired ford who went out and in march of 2004, four months before and started doing a solicitation for this offering without ever taking anybody over the wall and asking for a confidentiality agreement. and most importantly, themselves in may of, may of 2004 published in that 20-f filing the fact they had hired merriman to do a pipe offering. the notion it was somehow confidential -- melissa: it was not confidential information. it was out there for anyone who wanted to hear it, know it, research it and act upon it. that is why it wasn't insider information. steven, thanks so much for coming on and congratulations to you.
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>> thank you so much for having me. melissa: coming up on "money," goldman sachs has anything but a golden quarter joining the likes of jpmorgan and citigroup. could a major slump be ahead for wall street? we'll get the real story right here. plus chemical weapons inspector in syria. nearly half of the work is done already. they were just forced to turn around from the latest inspection. how much has all this cost so far? by the way we'll follow the money. do you ever have too much money? [ woman ] if you have the audacity to believe your financial advisor should focus on your long-term goals, not their short-term agenda. [ woman ] if you have the nerve to believe that cookie cutters should be for cookies, not your investment strategy. if you believe in the sheer brilliance of a simple explanation. [ male announcer ] join the nearly 7 million investors who think like you do: face time and think time make a difference. join us. [ male announcer ] at edward jones,
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melissa: the whispers, the rumors, behind the scenes gossip, we've got it all on "money." tonight the spotlight is on the biggest banks on wall street. goldman sachs reporting a 20%
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decline in revenue this morning dealing a blow to the stock. goldman's report comes on the heels of less than stellar earnings from citigroup and jpmorgan chase. this is all the world on wall street. this is "wall street journal's" ahead of the tape columnist, spencer jacob. this has really been a tough period and it seems like it is finally really showing up in earnings, as we look at this. we talked about goldman sachs. jpmorgan losing money for the first time since jamie dimon has been in charge. for the first time since 2004. you know, you look at citigroup as well. and it's, it seems like it is a very tough time for these huge conglomerates? >> it's a tough time. it is a tough time for different reasons. the most surprising one for me was goldman sachs today which had a very substantial decline in revenue. melissa: yeah. >> in the big money division, ficc, fixed income and commodities. that is the bread and butter that is the business lloyd blankfein came out of.
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melissa: what happened there? >> we don't know exactly what happened. they said basically that client business dried up a lot towards the end of the quarter. what the suspicion is though they got caught on the wrong end of trades. the banks hold securities and take positions just in the normal order of client business, not is what is normally considered prop trading. september was extremely volatile month because the fed pulled back from tapering much the suspicion is they got caught on the wrong end of some trades in september as a result of that. we don't really know the full truth. we know it's a big drop. we know they cut compensation very sharply and raised their dividend a bit to mollify investors. melissa: meantime you look at with what is going on at jpmorgan. somebody like legendary analyst dick bove has been so bullish on these guys for so long saying banks are dead money. said that the last time he was on, for so many different reasons. the regulatory client has gone against them. look at someone like jpmorgan
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set aside $20 billion just for legal fees to fight. around the economy is not on their side as well. >> it is interesting, some things have been tailwinds for them that are coming to an end at least for a while. melissa: yeah. >> one you had the mortgage refi boom. now that rates have gone up, that has dried up. for wells, for jpmorgan, for bank of america, to a lesser extent for citi, that was a real "bonanza." they are letting people go and shutting offices and laying off thousands of people in the mortgage business. but then you also had this well they have been able to go too for several years which is, reversing provisions they took earlier. melissa: right. >> they basically taken credit provisions. now they're, they have been on the up swing of that. you can't take those forever because you run out of those. melissa: right. >> that is running dry as well. melissa: people have been warning that for sure. bank of america posted higher than expected quarterly profit. its mortgage operation is faltering. what is the story there? >> well, bank of america looks pretty good in the sense, but ones again, a big boost.
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profit was improving credit quality. that is good. we're in expansion and improving credit quality is nice. we're five years now out of the financial crisis. melissa: yeah. >> or four years from the end of of the recession. so, you can't keep going back to that well. melissa: yeah. >> the, they just announced they're buying back $4 billion of debt. what they're starting to do is shrink the balance sheet. they can't grow their way into greater profits. they're trying to shrink their way into greater profits. that is one avenue. returning capital, paying down debt, things like that. it will not be growing the way it has been. melissa: is this a big turning point for these banks? even when i know a lot of people that work inside these banks. it seems like sentiment has changed. they have gone from being very proud of having lived through the financial crisis an survived. here we are and we're coming back to now being very pessimistic again, looking for jobs in other places. it seems like there has been a big fundamental change. is that just how it feels this week? do you think that's real?
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>> i mean overall, if you look at this earnings season, it wasn't a bad set of earnings numbers from the banks. but you do get the sense there are still more shoes to drop, especially on regulatory front. melissa: yeah. >> looks like things like commodity operations these banks have which are very, very profitable for some of them. goldman really considers it a core business. jpmorgan invested tremendous sums and morgan stanley as well where they have these physical assets and commodities trading. now they're being forced to get in them. the fed is considering changing rules to make it more expensive for them to get into that business which basically makes it unattractive. they feel like they're assailed from all sides. i don't know if you can paint the entire industry with the same brush. melissa: feels like that a problem here, problem here. always appreciate you coming on. appreciate your good insight. >> thank you. melissa: coming up, chemical weapons inspectors in syria reportedly finished half their drop already. really?
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that is supposed to cost a billion dollars. we'll break down the real cost and whether it is money well-spent. another example of government lowering property values. new york's plaza hotel blaming the city bike program for ruining the area around it. it is filing suit. one of our favorite legal eagles is here to handicap the case. "piles of money" and a few annoying bicycles coming up. life's an adventure when you're with her.
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melissa: no matter what time it is money is always on the move. shares of google are soaring after-hours. reported strong third quarter earnings a short time ago. the number of paid clicks, a key source of ad revenue for google, soared by 26% compared to last year. clearly investors like what they're seeing wow, look at that! wish i owned that stock. turning to syria now where the costly and difficult process of destroying the country's
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massive chemical weapons stockpile hit a major roadblock. weapons inspectors are halfway finished with first phase of the job. they are unable to get near some sites they're supposed to visit, never mind actually destroying chemical weapons at those locations. here with following the money and challenges still lie ahead, chris harmer, from the institute for the study of war. chris, thanks so much for joining us. it can't be totally surprising. past five days, mortar rounds exploded close to the hotel. they have had car bombs. teams, they already visited 11 locations. they carried out destruction at six of them. but now it feels like they're in the really tough territory. >> melissa, a pleasure to be here. this comedy of errors reminds me of saying we had in the military which is, interesting how some things can be totally predictable yet surprise you still the same. it was completely predictable that the weapons inspectors who went into syria would not get
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axcess to at love sites. they would not get real cooperation from the syrian government. they weren't going to have necessary security to actually do their jobs. yet here we are all, here we are all surprised it is not turning out the way they wanted it to. there are some interesting statistics they released. the organization for prohibition oflly conducting the inspections on syrian chemical facilities. they say they inspected 11 of 20 sites, or 55%. there is no possible way they have conduct ad thorough investigation of 55%. melissa: why are we getting number? what is behind that. >> they maybe conduct ad superficial inspection of it. maybe they're trying to portray themselves as having accomplished something they really haven't. we're such an entry level phase of this operation there is no way they should be claiming the amount of success that they are. in addition to they won the nobel peace prize for their efforts. melissa: right. >> the whole thing, at one level
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it is laughable and ridiculous. not to say i don't respect the individual weapons inspectors. they're doing a hard job and doing best we can. it is beyond obvious, that the assad regime taken the chemical weapons and dispersed them around the country. they will not cooperate in any significant way. this is regime for 10 years didn't acknowledge they had no chemical weapons. now we're supposed to believe they're actually cooperating on this? this is ridiculous. melissa: meanwhile they spent some estimates are $20 million. we think the whole thing will cost a billion dollars. we're a show about money. we have to follow the money. does that number sound about right to you? makes you think, if that is all they spent in one respect, they haven't done a lot. >> that number is roughly speaking accurate. it will cost at least a billion dollars. if we got full cooperation from the syrian government, which we won't, but even if we got our hands on 1,000 tons of chemical weapons we know the syrian regime has it would cost at
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least a billion dollars to dispose that safely of it has taken the american department of defense about 15 years to dispose of our chemical weapons and we're still working on it. no way this will be done quickly. no way we get it done with just a billion dollars. once those chemical weapons are mixed they have to be incinerated in a very specific manner to be done safely. and that will cost a lot of money to build either a plant in syria or transport the chemical weapons to a third country not yet agreed to take them. melissa: speaking of that. the u.s. approached norway doing just that. is that a good idea? is that stave? it is 3,000 miles away. how do you even transport them there safely? >> it's a good idea in a sense better to dispose them outside of the country from a technical perspective, that you can guaranty they are disposed of. it is a bad situation in who in norway wants a thousand tons of chemical weapons from syria? if we know anything about
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al qaeda it is this they know how to attack convince. they did that successfully time and again in iraq and afghanistan. if we start taking possession of chemical weapons in syria. the organization for prohibition of chemical weapons and start moving the chemical weapons around the country the al qaeda linked groups will attack and take those into custody. there is no way to make is a secure and safe process. melissa: before we run out of time i want to ask you that. that is one of the most important questions. i'm reading reports that say the al qaeda-led groups are gaining strength in syria as all this is happening. is that true? and why and what's the danger? >> that is true. the al qaeda-linked groups are unfortunately gaining strength in syria and from the macro perspective 2 1/2 years ago the syrian rebellion started as largely a secular rebellion. the free syrian army was secular group of rebels just wanted to get rid of jihad. they were not interested in jihad. they were not interested in islamic fundamentalism. we ignored them for two years.
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we promised if assad used chemical weapons we would strike. we didn't. we promised them significant military assistance. we didn't. al qaeda is saying to rebels, you can't trust united states. only way to get rid of assad is organize under the umbrella under al qaeda. we are giving rebels two choices. stay with unaligned free syrian army and get killed or join al qaeda and get victory. no surprise why al qaeda is gaining strength in syria. my fear is we kicked the can down the road in syria and six months we'll be back at it again. melissa: chris, thanks very much. we don't want to lose sight of this story. thanks for coming on. >> thank you. melissa: from the u.s. to every corner of the globe money has been flying around the world. today. first in beijing, it is imposing harsh measures to combat pollution. on high pollution days new rules will take half of beijing's four million private cars off the road. isn't that every day? factories will be forced to stop
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production projects and halt operations. wow, look at video. in australia, huge bush fires are ravaging the country's southeast. officials say they are the worst australia has seen in a decade. hundreds of homes have been destroyed and airports and businesses and schools across the region have been closed. it has gotten so bad, that a massive ash cloud is now covering sydney. fortunately no one has been reported dead. wow! landing in london, buckle up for budget flights across the atlantic. norwegian air launch one way tickets to america with rock-bottom prices a flight between london and new york will start at just $240. london to los angeles, 320 bucks. the fares take effect next summer. unfortunately you have to sit in someone's lap and not someone good. next on "money," when what do you do when your high-end property value falls through the floor because of government
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do-gooding? it is happening right now in new york and the plaza hotel is facing off against the city bike program. could this set a precedent? what if you have a waterfront view and gets ruined by one of these bicycles! we have answers what you can do. at the end of the day it is all about money. clients are always learning more to make their money do more. (ann) to help me plan my next move, i take scottrade's free, in-branch seminars... plus, their live webinars. i use daily market commentary to improve my strategy. and my local scottrade office guides my learning every step of the way. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) ranked highest in investor satisfaction with self-directed services by j.d. power and associates. maestro of project management. baron of the build-out. you need a permit... to be this awesome.
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how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s.
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and that's a great thing. but even though we're living longer, one thing that hasn't changed much is the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ melissa: if you ever worried about your property value being killed because of government, it can happen, what if your water view, what if a bridge or causeway goes up right in the way? iconic park views get in a eyesore with giant racks of bikes, parked in your front door? that is the course of the faceoff between the famed plaza hotel in new york city and mayor bloomberg's pet project, citi bike could have impact on properties everywhere. here is weigh in, fred tecce, former federal prosecutor this
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is universal problem. the government comes along to do something to your street, block, neighborhood, side walk in front of you, view to the beach, you feel like it ruins your property value. here you have no control over it. >> right. melissa: here you have the iconic plaza hotel and they threw up this enormous bike rack between the hotel and this historic fountain across the street. all one beautiful vision people come to see. there is only two leans of traffic. they took out a lane of traffic. can you tell i'm upset about this, fred? >> i don't blame you. i used to walk home from rock center, 70th and columbus to walk past where you're talking about. melissa: thank you. >> i can't believe the government, nanny mayor of new york, decides to put a huge bike rack up there. you know, the bottom line is this. you know it is your property and your neighbor's property. we're taught to have to love our neighbors but we don't have to like them. quite frankly i don't think the plaza should have to look at this stuff. here is the big irony in all
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this, melissa. the government passes all these bizarre regulations and environmental impact, we killed the snails on fifth avenue, if it turns out that these bike racks were put in there without doing an environmental impact statement, because soming from hops over into central park can't make the hop -- melissa: is that it? what we're talking about is, what are the legal rights? the plaza hotel obviously may have endless resources, a regular person would have much harder job. i know a lot of businesses in new york, people who have gone out and sat on the bike rack in protest because they feel like it is blocked the traffic of people getting to their small business. you know their little delhi, whatever it is. >> right. melissa: what recourse does the plaza and regular joe have against the city? what would you tell them? >> i'll tell you have a couple resources. resource will be in the courts. you have to bring an action, nuisance action or eyesore action n in the plaza's case i think they have legitimate arguments. when they did this, they block ad rain of traffic, making it more dangerous and difficult to
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get to them. it draws trash. you and i would both agree they can't put an organic pig farm across the street from the plaza. that would be nuisance. melissa: yeah. >> so the lot line is, you can have stuff like that but you can't do it and infringe what the law calls quiet enjoyment of neighbors. that is exactly what you have here. melissa: in my opinion every single one of these bike racks is nuisance. they take up a whole lane of traffic. they slow things down. i think they're all eyesore. obviously i'm in the minority because they're everywhere. the mayor loves them. people are riding them. people are riding them so, i mean are they going to get, seems like they don't have a leg to stand on if that is their only argument. they will have to find a frog that can't cross the road to get back to the park. >> they have a couple things. problem when you look at nuisance law here is the part that is a pain in the butt. there is weighing of social interest. what is the social interest encouraging people to ride bbkes versus social interest of people bentley up without spilling the
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beluga? bottom line is this though? why does it have to be across the street from the plaza? there have to be less obtrusive place to put it. until mayor bloomberg puts one in front of his town house, everybody has right to say we don't want it here. move it someplace else you and i should go to the town house and stand there with a bunch of citi bikes. it will depend on whether that judge likes to bicycle or doesn't. >> unfortunately always come down to that in a case like this. if you want to bang on his door at night after couple beers call me. i'm there. melissa: i might take you up on that. that sound fun. bring a camera. it will be a lot of fun. >> it will be great. thanks for having me. melissa: next on "money," we need to do that. that would be fun. i would get in trouble. think lawyers, lawmakers sorry, are the masters of kicking the can down the road.
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not lawyers, i am loving them right now. because i love fred. you are so wrong! to honor our government's confidence we're having our own kick the can contest down the streets of new york city. we're going to go outside and do it. we're kicking those cans. we'll best everyone in congress. get ready for "spare change." make sure you stretch first. you can never have too much money. ♪ [ woman ] if you have the audacity to believe your financial advisor should focus on your long-term goals, not their short-term agenda. [ woman ] if you have the nerve to believe that cookie cutters should be for cookies, not your investment strategy. if you believe in the sheer brilliance of a simple explanation. [ male announcer ] join the nearly 7 million investors
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who think like you do: face time and think time make a difference. join us. [ male announcer ] at edward jones, it's how we make sense of investing.
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♪ melissa: time for a little fun with "spare change." i have david asman and recommend my spencer with me as well.
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>> medical hello. melissa: i was so sick of hearing the government talk about kicking the can down the road. for a while you couldn't say it on the show anymore. i thought, why not embrace it. this is pastime. >> no more a figure of speech. now literally. melissa: come out here to actually do it. maybe we would find folks on the street who were better at the job that washington seems to be so good at to kick the can further than 90 days. we made absolutely no progress. >> we'll be back to the same situation in a couple months, so what's the point. melissa: right. what did you think whe producers called you and say we would go outside and kick the can down the road? >> i thought they were kidding. i would have on worn a different pair of shoes. >> we polled. prada shoes, $800? kiss them good-bye, remi. melissa: volunteers from the streets of new york, who decided come over here to sit on the other side. we'll kick the can in this direction and see who kicks it the furtherrest. who is our first brave volume
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steer? come on up here. what is your name? where are you from. >> carol blanchard. i'm from alaska. melissa: come out here, carol. >> all the cans are blowing away. that is cheating. that is cheating. give one of these can as kick. david, you will go next. all right. i love this idea. melissa: there is yours, remi. >> come up to give it a big kick. nice. i think that will be a winner. do you get sick of people saying they kick the can down the road. >> i do. i think it should be a banned phrase. wind will blow it away before you can kick it. >> david, keep your hand there. melissa: all right. >> there you go. melissa: david, if you had a fantasy congressional football team, who would be on it? >> all girls with pretty legs like yours.
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melissa: anymore volunteers? where are you from? i don't think you have a microphone. what is your name. >> mike. melissa: are you sick of what is going on in washington? >> of course. our government should work together as one. we're supposed to be the most powerful. melissa: will never happen, you realize that? they will never work together and solve anything. they will only kick the can down the road. if you kick it really far, if they go the furtherrest we make them the new congressman of this district. that is it. you will go to washington and kick the can all the way down to hell. get out there and do it. what do you think? nice, nice. well-done. that might be the winner. absolutely. david how many times have you seen the can kicked down the road in washington? >> i grew up in d.c. i lived with all that stuff. there was one point they used to talk to each other. now they don't talk. it is the best they can do. compromise now is kicking the can down the road. melissa: what do you think? >> this is compromise. call it kicking the can down the road but it was a compromise
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needed to be done. melissa: do you think if we banned phrase they would stop doing it? >> that is good idea. after today i don't think we'll kick the can again. melissa: who won? with help of a little wind. take a look. see who help won this thing? melissa: i like it. melissa: well, i don't know. what do we think? make a new congressman here. we don't know whose can is, david what do you think? >> i can't see. what do you think? melissa: i think this guy right here, make him the new congressman. >> what sure a name? >> mike. >> mike. >> congressman mike. melissa: what would you do differently in washington? >> work with everyone. come to an agreement. show our viewers that we can agree and work together unitedly. if that is even a word. melissa: i don't think so. but you sound like a lot of them of the especially after you will
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the time they spend there. it makes a much sense. this is it, mike. you're in charge. mike for congress. what do you think? >> vote for me. melissa: absolutely. i think we did about as much good work as they did. >> yeah, right. >> -- did as much as congress tonight. melissa: "who made money today?" we'll tell you when we come back. thanks guys. copd makes it hard to breathe...
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♪ melissa: we have breaking news. stock absolutely skyrocketing after hours. let's get to jo ling kent at the news desk to find out why. >> reporter: that is right. today you up probably in a very good mood. the stock came in and the earnings report came in at $2.66 per share, which is up, just a mess on the eps, but the earnings, the revenue came in at 826 million which beat the
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820 million that we were expecting on the street. here's the good news and livestock is not so much. same-store sales of over 6%. this tree was estimating for a half. a very healthy be. thirty-seven new restaurants opened across the country. in the after hours right now the stock is of just under 8 percent, so this is very good news. melissa: thank you so much. >> no problem. melissa: whether it is on wall street remains treat coming here is to make "money" today. anyone who owns winnebago. it ran over expectations reporting a big rebound in demand. consumers and dealers alike. jumping by nearly 5%. meanwhile, losing money today, everyone who owns ibm. feeling the financial blues in its latest quarter off. reported surprisingly large decline in revenue. they pointed to particularly china and a sharp decline in hardware sales.
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that hammered the stock by more than 6%. to its lowest level in two years. all right. and making broadway history, the lion king. it is the first broadway musical ever to gross a billion dollars. can you imagine? it has been running on broadway since 1997. it now even how gross the film was made a paltry $960 million worldwide. it is certainly good to be king. that is all we have for you. i hope you may "money" today. be sure to tune in tomorrow. it is franchise friday, my favorite. back to give you one step closer to the dream opening of your own. i have been learning some much. the closest you can get to opening of a franchise without actually risking any cash. kendis to modify p.m. make sure you join us. go out and kick the can as far as you possibly can. washington needs your help.
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"the willis report" coming of next. ♪ gerri: hello, everybody. i'm gerri willis theories tonight on "the willis report" the list of problems, glitches, and snafus keep growing. wait until you hear about the company that the feds hired that is behind most of the mess. also, the state of delaware signs of just one person for obamacare. she is here tonight. wait until you hear her story. in a huge turnaround for one of the country's best known retailers. how best buy fed on the consumer all coming up tonight on "the willis report." ♪


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