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tv   MONEY With Melissa Francis  FOX Business  May 7, 2014 2:00pm-3:01pm EDT

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economic outlook. it wasn't always good news. the one sector that still keeps her up at night we'll tell you about it. twitter is getting absolutely crushed again today. this could be just a beginning. new plus station from twitter, insiders want the to sell when the lockup expired but couldn't. maximizing the minimum wage. as if 10.10 an hour, now there is push to hike it more than three times the national average. what a great idea! ben bernanke tell-all. the former fed chair juicy new tomm but plus our suggestions for the title. even when they say it's not it is always about money. dierdre: melissa: ought of the grate we have breaking news. charlie gasparino on details on new york attorney general probe on high frequency trading.
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>> i don't know if this is good news or bad news but i will lay it out there. sources tell us that the new york ag is not looking in this enforcement action in this hft prone. he is looking for structural changes in the hft business. what he is looking to change is out there already. early read on thomson reuters, he wants to end that he is looking to moderate the speed advantage. that is is key. that will prevent, my view, this is my opinion now, at least make it very difficult for virtu, the high frequency trading firm owned by vincent viola, former head of new york mercantile exchange, make it difficult for virtu to come public if you erase that nanosecond speed if that is what schneiderman wants. this investigation is in early stages. never say will be not be an encoresment action in early stages. right now he is not focusing on enforcement action but looking for structural change for the
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business that could hurt firms wanting to go public in this trading business. melissa: awesome, charlie, thank you. a few former employees of twitter have not been able to unload their shares. we have charlie there and monica mate at that, and james freeman from "the wall street journal" this is outrageous. the lockup expires, big guns get or cash out and quotes from people posting them online. i'm on hold, hopefully someone picks up before the market something expletive closes. former twitter engineer. the quotes are everywhere. folks are furious that they couldn't sell. are you outraged, james? >> no, i'm not outraged. melissa: why? that is not fair! >> technical glitch preventing sales. you understand when you sell to the public markets people want to know that all insiders are not bailing when they come in. so i think those are legit. you have to remember, witter and some of these companies that came public, very small float. very small percentage much company was put out there.
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it will have volatility when lockup periods end. >> these people say they can't sell the stock? melissa: right. according to schwab, hold put in place on exercising options. they do in the expect it will lift on the afternoon. this is the hold twitter placed. engineers going online, lockup was supposed to expire but they were being prevented from selling while top guns were obviously selling because it was tanking. monica. >> well the stock has been in free fall for a week now, mostly because of the earnings report where you saw they're just not signing up users with the growth they had seen in the past. if it is already in free fall and now this lockup is expiring they clearly have to do something to have a measured selling process. melissa: charlie gasparino, i don't like it either. i'm with you. that is not right. >> schwab is arbitrarily stopping this thing? first off, i don't know if that is legal. that sound bizarre. i hate twitter to begin with. melissa: well you hate it as a business. you love it as means of communication. >> right. i think it's a crappy business. here's the thing.
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i just can't wait until it goes below 26. that is when eric bolling -- melissa: goodness gracious, taking it right -- alibaba officially files for its ipo. this could be the biggest ipo ever. you like it, you hate i, what do you think guys? >> i'm indifferent to it. i think it. melissa: i like the fact that china's becoming much more of a free market than the united states. that is a good thing i think. melissa: yeah. >> it will be interesting to see who they pick as the exchange they list on. my gut tells me -- melissa: what is your gut? >> all bankers want them to pick new york stock exchange. but i can tell you bob greifeld is pulling every rabbit out of his you know what to try -- melissa: his hat? pulling rabbits out of his hat? >> nasdaq has in its corner, apparently you can not buy, if you're in china, you can't buy, a chinese investor you can not buy alley ab ba if it trades on the new york stock exchange or nasdaq but nasdaq has a deal with the shanghai exchange where you can get alibaba through some
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index fund. so theoretically -- melissa: not with the nyse? >> if nasdaq wins the deal. melissa: monica, would you invest? >> all depends on the valuation. this is interesting company with 80% market share for chinese e-commerce. at same token it has lack of transparency and has sketchy chinese accounting. melissa: james? >> they're not putting out a whole lot of detail how their businesses are doing. it is obviously a big company and growing big market but if you want to look at each of their web platforms are doing they're not sharing a whole lot of data. you would think given recent scandals of chinese company accounting they would want to go further towards transparency. maybe there is so much excitement and hype. i would be careful. >> you would think they wouldn't want to disclose that. melissa: i know. another big one, janet yellen on the hill today, fed chair. she was optimistic about the economy overall exempt for one minor hiccup. >> one cautionary note though is that readings on housing
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activity a sector that has been recovering since 2011, remain disappointing so far this year and will bear watching. melissa: hmmm. what do you think? disappointing housing. >> i'm disappointed she like so many other people in washington still looks as housing as a barometer of our economic health. melissa: why? >> it's a by-product. it is not cause of vibrant economy. this is how we got the housing crisis. central bankers and politicians think you need housing to become rich. we become rich by creating things and then we buy rich houses. >> some people have net worth locked up in housing. if housing doesn't recover, that is one of the reasons you have this growing inequality disparity -- >> if we're not creating valuable things to sell to the world you will not have a sustained recovery. >> i'm with you. let's get down to practicality. people in this country have net worth tied to housing. >> one does not have to preclude
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the other. >> agreed. >> to your point, last two years, you have really low rates. people are snatching up par gains. all those are gone now. at same token, people are not refinancing. comes back to the regular churn i need a bigger house, i have kids and they are not selling. >> maybe because the economy really does suck. melissa: there is that possibility as well. >> did you ever think of that? melissa: ben bernanke, did you hear about this, inking a book deal about the economic crisis. so far, no title. we have some humble suggestions. what were you thinking, charlie. >> like what i saw at the socialist revolution. melissa: that's nice. >> subtle. >> then i was thinking i'm sorry he caused it. he helped cause it. melissa: there are a lot of people who think he saved the universe. lou dobbs thinks he saved the world. >> lou done can have his opinion. ben bernanke was asleep at switch when this stuff started happening, in 2007, he was
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sleeping on top of the switch with a little pillow. >> he was in jackson hole in late 2000, do we have a credit crisis. melissa: what do you think? >> quantitative pleasing. melissa: lie i can that. quantitative pleasing. very nice. >> i think that is our winner. melissa: haven't heard mine yet. >> excuse me. i said making money because he is doing a lot of it. melissa: a little boring, james. >> it is boring. melissa: i'm a little bit -- >> helicopter pilot but that -- melissa: that is very nice. >> no one would get that. melissa: i like burn book. like burn book from "mean girls," right? but it is bern. i think charlie didn't see the movie. so he doesn't get it. no, okay? there you go. according to new report, apple is gearing up for enormous iphone push this week. they're flooding the market. they want to get them out there. what is behind this? other than obviously wanting to drum up money but why are they so focused on pushing this model out the door?
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is there a new one coming? >> i would say, one great thing about the technology industry is that they're constantly creating new products and you have a window where you have to move this thing out the door he have about the next generation makes it obsolete and that is sort of what they're facing now. melissa: yeah. >> that is the part of the economy that really works and is important and i wish central bankers would focus on. >> i think they're also trying to blow out old inventory which may be a sign they aren't managing inventory as they have in the past. that is another way to be concerheir operation. >> well, i'll give you a 30,000 feet observation i think tim cook is under some pressure to innovate and get new products out. we've been talking about this for a while. melissa: forever. >> the last year. the board, clearly don't put him in the same category as steve jobs which to one else is. he needs to show his chops as an innovator. that is what this is all about. a "wall street journal" reporter on apple basically said a lot of stuff we've been reporting, there is issues involving cook in terms of, listen, brilliant guy, brilliant manager but does
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he have the chops to innovate and think big? i think that is what we're hearing a little bit. melissa: thanks to all three of you. who wants to be a trillionaire? i know i do. we're running down the top contenders undoubtedly will be forbes next countdown list, the trillionaires. new push for $26 minimum wage? have you heard about this? this is not a joke. $26 an hour, the wage rage is getting out of hand. we're bringing the pain, charles and erica, they will face off next. more "money" next. ♪ when does your work en does it end after you've expanded your business? after your company's gone public? and the capital's been invested?
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or wn your compan's bought another? is it over after you' given back? you never stop achieving. that's why, at barclays, our ambition is to always realize yours.
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dierdre: the president's proposal for a 10.10 minimum wage looking downright tame next to a plan in california the democratic congresswoman barbara lee would like to see a $26 minimum wage in the golden state. obviously more than triple the current federal rate. it's a fight for the ages. we have no choice but to bring the payne. founder of agenda project, erica
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payne and our very own charles payne. erica, is this a brilliant idea, $26 an hour. >> what is brilliant idea try to get people helping companies earn the money to get more of the profits. right now we have a situation where fast-food ceos make 1200 times more than their employees. we have a situation where 50% of fast-food workers are on public assistance, so the taxpayer are subsidizing their low wages. we need to move away from that situation. melissa: charles, i have so much to say about so much of that but i will let charles go instead. go ahead, charles. >> i'm glad you picked on fast-food industry, one industry with extraordinarily low profit margins to begin with. essentially what you're flying to say, for the most part, put themselves, might have found themselves in this position that corporate america owes them a certain amount of money and i you know, you're doing a couple things here. first of all you're rewarding meet okay critty. you're encouraging people not to become the best they can be. ironic in california of all
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places maybe a million jobs are going begging because we don't have people who can fulfill high-skilled jobs where half the new businesses are started by foreigners in silicon valley because we're not grooming these people. forget it. don't excel at anything. don't be great. don't take risks. instead, we'll pay you the money because the ceo is making a lot of money. melissa: erica? >> i think that is incredibly insulting. idea people making 7.25 an hour are somehow not worthy of basic human dignity which is the right to work -- >> they're not worthy of taking money from a corporation. >> so i mean, they're not taking the money from the corporation. they're making money for the corning. melissa: erica -- hang on, hang on. >> my fries and hand them to me. these people are making the company money. melissa: why do they not have basic human dignity if they're working for 7.25 an hour? i think there is lot of dignity working at an minimum wage job? >> i totally agree. i just think we need to have a wage structure that allows
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people to support themselves. i mean what we have now is 50% of the fast-food workers are on public assistance. so the taxpayers are subsidizing these very low wages. then we have the folks working full time while they're getting hammered from people on the right saying, you know, you're living off the government dole and all this they're working 40 hours. they're doing what they can do. they're trying to raise kids and can't make end meet. and -- melissa: congressional budget office would said if minimum wage went up would need even more on the dole. >> first of all what the congressional budget office said there was october we would lose half a million jobs. melissa: right. >> but also said is that 16 million people would get a raise. so when i compare the good for 16 million people, and the bad for 500,000 people i'm going to pick the good for 16 million people. melissa: i would love to bring you somebody who gets laid off as a result of that and see how their family likes that idea. >> i would of lo to see people they live with, who have gotten a raise. this is the thing we've got to
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reconnect in this country the idea if you're working full time you can support yourself. melissa: lifting people higher we'll choose between one and other. >> 28 million people are going to have more money to spend. melissa: i want to bring up another topic because i one of the reasons why we see the ms.erry index in the u.s. rising. you know something wrong is when china fares better than u.s. in global misery index. the u.s. ranks 71st as -- >> that is crazy. melissa: world's most miserable countries. we're worst than china, 82nd. they're list miserable. lower you are, the happier you are. >> so sad. melissa: we're more miserable than canada. more miserable than korea. panama? panama? charles, what do you think? >> listen, people are miserable because essentially these policies, i got to be honest with you, we have, we have tied up the most incredible economy in the history of mankind over nonsense about so-called fairness. we have wasted so much time on minimum wage -- >> you think fairness is
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nonsense charles. you think fairness is nonsense, really. >> the notion somehow, someone who is in a position, everyone that, is making minimum wage, they didn't do anything. it is not their fault. you know what? i know plenty of guys who -- [both talking at once] melissa: we're out of control. >> not a nickel. you don't get any of it. melissa: erica payne. >> unbelievable charles. melissa: we're letting this one go. disney hit "frozen" giving the company plenty of bang for the buck. plus, getting ready for the red planet. some authorities think a move to mars? is becoming a necessity. it is starting to look like a scene from ""tron"." -- "tron." do you have have too much money? "piles of money" straight ahead. ♪
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dierdre: disney is singing all the way to the bank. it's fresh new hit, "frozen," really helping to boost its bottom line of the stock is down slightly despite beating first quarter expectations. let's go to nicole petroleum at the new york stock exchange. this is a big one. >> it's a big one, it really is. "frozen" has been a blockbuster for disney over the latest quarter. you see the stock, as you noted, melissa, slightly to the downside, about .2 of a percent lower. it is down around the unchanged line. it was in positive territory today back an forth. 9 mixture is this year, up almost 6%. outpacing major averages. they showed a profit growth and of course because of their blockbuster film "frozen" which they say was no mistake or accident. they said they purposely brought in the right people to make a
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blockbuster animated film and did exactly that. they creditor as well to the success. "thor." melissa: what other names do you like? >> green coffee mountain roasters and solarcity. tessa. first century fox, parent of fox business network and zillow which has been hit hard. cillo is down 8%. back to you. melissa: nicole, thanks so much. analyst call on tesla earnings is coming up in 10 minutes. wedbush securities craig irwin why he is bullish on lech cake carmaker. before we get to that, from the u.s. to every corner of the globe money has been flying around the world. starting in russia, where president putin appears to take steps to east tensions in ukraine. putin asked for pro-russian separatists to postpone a referendum that was supposed to take place sunday.
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he said that russia started to pull back 40,000 troops gathering for weeks over the border. in norway, the military is trying out oculus rift in hits tanks. the virtual reality headset, gives tank drivers a 360-degree view outside the vehicle and allowing them to navigate dangerous situations without opening the hatch. landing in china where monkeys are being used by an air force to defend them against birds. the cheeky primates are specifically trained to destroy nests that have started to plague some bases. posing a real risk to airplanes around them. once a bird is spotted. a handler blows a whistle and monkeys go into full attack mode and climbing trees and scaring them away. around eight nests can be destroyed per monkey, per day. wer is peta? did you know we're eventually moving to mars? did you know that? i'm not even kidding about this. many big names stepped up supporting idea like tesla ceo
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elon musk is one. even head of nasa, charles bolden says i think this will safe humanity. he said, quote, if this species is to survive we need to become a multiplanet species. we need to go to mars. now woe have the outfit. joining me former nasa astronaut tom jones to discuss more about this. before we get to the suit which is official. we have the clothes for it, we're ready to go, what, why are we leaving earth? why do we need to go to mars? >> eventually we'll face a threat that will wipe out this planet as an abode for our species so we have to have feet on couple planets. melissa: a big threat? >> a virus, asteroid, it will happen some day. no reason to think about. if we're going to survive to beat out dinosaurs for the longevity prize. melissa: you think we'll all have to bail? >> not everybody but we have to have a reservoir of humanity in the solar system. melissa: why mars? >> the most either like of
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planets. has atmosphere and water resources. temperatures are not too bad. sort of like antarctica only a little worse. melissa: worse than antarctica, the ideal choice i. i see exactly what you're saying. first when elon musk said this, regular people like my sell were laughing. more and more folks are jumping on the bandwagon of this idea, this is really out there to the point now there is a nasa suit. have you seen this? i think we have photos of it. >> the suit. melissa: what do we need? can i order this from zappos where i pretty much get everything? >> this is high-tech outdoor gear. tough go to mars. you have to have spacesuit protection for lack of an atmosphere, very thin on mars. you need micro meteor protection. this incorporates all the new shuttle technology. the suits i walked out on spacewalks this is 40-year-old technology. this has latest life-support and technologies that help you do a
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better, more productive jock. melissa: we'll all be wandering around in suits like that. >> before you see on asteroid and moon nearby and eventually evolve to the be capable of mars work. melissa: just to be clear, you're a former senate, and you take this seriously eventually we'll have to be on mars. >> we have 25 years of technology work to get on mars. in interrim we should industrialize either moon space and asteroid water and minerals and sufficient from the moon to make money in space which will pay for mars expeditions, my kids will be thrilled. they will be the first to sign up. >> come down to the visitor center in florida. melissa: i will definitely. elon musk laying it all online. the crucial bet to get the tesln time. 902 one oh, no. beverly hills foot cops putting their foot down on fracking. "piles of money" coming right up. ♪
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momentum stocks getting crushed, yahoo! down 6.5% as ali baba is closer to going public. check the declines with this cme with more on this one, looking ugly on that board. >> absolutely. these stocks have been weak. the weakest stocks in the market over the past month, we saw future reversal in the broader market opening much lower and a lot of stocks came back but momentum stocks continue to remain depressed. we have seen a lot of money come out of this space and rotating to bigger caps, less volatile names and traders are positioning themselves for the summer going forward and headline risk out of ukraine and and and shore environment for interest rates. melissa: is their opportunity in any of these stocks that getting
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hammered? is any one of them a good one? >> we have seen expectations of ali baba's idea, action traders are very bullish. that put 3-1 of the the past two weeks, traders definitely expect to come up on yahoo!. melissa: thanks so much. all eyes on the electric carmaker that has tesla shares falling just hours from now. for all of elon musk at star power the company is facing concerns from stagnant domestic sales to the drying up of government subsidies, here is jo lin kent, web. craig apps, jonathan honig, also a fox news contributor. let's dig in. a lot of troubling things in here. sales tracker auto data estimating u.s. sales rose less than 1%. does that concern you?
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>> no. they are allocating sales to europe. there's a lot of demand in europe they are catching up on. they serve the u.s. market first, now they're catching up on all the orders they had in europe and additional orders of finance vehicles and now they go to asia next. >> 5,000 orders from china in the previous quarter so that is something to watch but the thing with chinese demand may not be as high as analysts are anticipating because the charging network is not there. is not necessarily eyebrow and luxury recognition for the people buying them. this is an economy that loves bmw, mercedes, afton martin, that there is a new challenge in china, some analysts thinking that is possible. melissa: the options market could put in a 10% swing based on earnings. >> what drew tesla stock higher was not greater earnings are fabulous results that
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expectation, forward looking expectation and often times with momentum stocks, often times with momentum stocks that come out with good earnings and good results, stocks fall as a result to buy the new, self that situation. more than anything what matters to momentum stocks is momentum and tesla has great resolve. you will see the stock continued to fall. melissa: is a 260% year-over-year, 30% year to date, 22% of its value since shares peaked in february. does that mean is in decline or an opportunity? >> is an opportunity. i would tell the story differently. there was a lot of enthusiasm for how to cut the cost of the battery in half and after the announcement people started realizing we don't have as many details, we don't have as clear a plan. melissa: what about the plan? they are talking about breaking ground at two sites simultaneously before deciding
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where in order to drive the hardest bargain, that is interesting between nevada, texas and mexico. they will break ground in two places to keep the bidding going. >> and doing it because of factory functional is asian according to to as low. one factory is not able to produce they could have a backup. this is what elon musk is saying, thinking about having two factories. that is something -- >> the more money they make, the more dollars that come in the door lower the stock will go because stocks trade at such elevated expectations. think about cisco systems, a fraction of its 1999-2000 price, they make more money the stock trades at lower valuation. >> pricing into the options market we could see a 10% change up or down on the stock. melissa: thanks to all three of you. the grumblings continue at amazon. disgruntled employees shedding more light on the so-called wars
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of working for jeff bezos and the whole thing is starting to sound very bizarre because at the end of the day it is all about money and they are getting paid. i'm j-a-n-e and i have copd. i'm d-a-v-e and i have copd. i'm k-a-t-e and i have copd, but i don't want my breathing problems to get in the way my volunteering. that's why i asked my doctor about b-r-e-o. once-daily breo ellipta helps increase airflow from the lungs for a full 24 hours. and breo helps reduce symptom flare-ups that last several days and require oral steroids, antibiotics, or hospital stay. breo is not for asthma. breo contains a type of medicine that increases risk of death in people with asthma. it is not known if this risk is increased in copd. breo won't replace rescue inhalers for sudden copd symptoms and should not be used more than once a day.
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breo may increase your risk of pneumonia, thrush, osteoporosis, and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking breo. ask your doctor about b-r-e-o for copd. first prescription free at i got more advice than i knew what to do with. what i needed was information i could trust on how to take care of me and my baby. luckily, unitedhealthcare has a simple program that helps moms stay on track with their doctors and get the right care and guidance-before and after the baby is born. simple is good right now. (anncr vo) innovations that work for you. that's health in numbers. unitedhealthcare. melissa: i am melissa frances with your fox business brief.
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hewlett-packard will spend $1 billion over the next two years developing new cloud product. that is a big portion of its r&d budget but worse than the billions spent by google and microsoft. jetblue chief executive day of bargeman may leave when his contract expires. the board is always making plans for possible successor. harley-davidson has hired the former gm engineers and oversaw the investigation into faulty ignition switches, gm said monday that jim has retired, turns out he will start work as a hog the within weeks. that is the latest from the fox business network giving you the power to prosper.
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melissa: talk about getting leaked e-mails between nsa director keith alexander and google executive eric schmidt and sergey brin, should the government and silicon valley, e-mails dating back to 2011 shed some major light on secret meetings between silicon valley ceos and the national security agency despite what they led us to believe. what is everyone laughing at?
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quite a graphic. james freeman and jonathan honig are with us. this is quite serious. what do you think? >> it is chilling. over ed decades, the government going after the real enemies of this country, militant islam and jihad has been targeting americans. pretty much under the board, they have been deceitful about it. they're looking for our e-mails at reviewing google searches, not doing anything to make us safer. melissa: let me be devil's advocate. i talked on background of some of the ceos about this and they say we are working as partners to try -- it makes logical sense, the government is our customer, our partner, we are helping them track terror, they see it, they are surprised by the fact that everyone is horrified and pretending they are horrified to make themselves look good to customers.
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>> they have not been targeting americans, they're targeting bad guys in nasty parts of the world. al-jazeera and ed snowden on not looking out for interest in the united states. question the source but assuming e-mails are real, at some means getting canceled. google is helping the nsa, to find a bad guy in the tribal region. melissa: we decide the nsa as well, and partners -- >> the irs abuses are terrible. people don't want to trust this government. the president will not be president forever. melissa: i can't get enough of the amazon story, more amazon workers, detail in horrors of working for jeff bezos, one employee claiming amazon, and
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another one said everyone is so tired all the time, what do you think? do you feel bad for these people? >> this is the story of my 20s and the technology is young and stop whining and this is millennial complaining syndrome. melissa: anonymous e-mails and gawkers making a over posting these and fueling the fire of how miserable everyone is amazon. what do you make of this. >> disgruntled employes and ex employees, some of them you take seriously. and they really got a challenge on their hands from walmart, a lot more aggressive on line, and not sure there will be much more rest. and gawker has zero credibility,
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tremendous credibility. they are a wells 34 employees, customers, investors, and the panel's point is if you don't like working there -- melissa: go on. beverly hills 902 one 0 is the first in california to ban fracking. they bent fracking in beverly hills. we have been bear hunting and ice fishing on the upper east side. how about you? >> i think the tragedy is we are not fracking in upstate new york. melissa: you are taking the ban in beverly hills and imagine what they find, what are you -- >> they are talking about a new procedure to reduce lime. they don't understand what fracking is. >> if they thought was that they wouldn't ban it. there would be a government subsidy to go ahead. >> the places that are fracking in this country have unemployment rates in the three and 4%.
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they don't want fracking, their lost the money environmental movement behind these regulations has pushed california's gas prices to the highest in the country but that is the environmental movement's goal, to make money--energy more expensive for all. melissa: back from nebraska liz claman is here to tell us what is in store for the next hour. liz: never ate some much filet mignon in my life and they eat steak in nebraska. melissa: bring some back for me. liz: we are having a party at 3:00 p.m. eastern because we have quite the rally. the bulls are on the run. could you give credit to janet yellen? did you notice how members of congress tried to pin her down on when rates may eventually tighten? coming up a fox business exclusive with the two people who watched this so closely and are able to interpret it better than anybody else.hiltoniraq ha size of the fed, the chief
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economic correspondent, jon hillsenrath will tell us what to look for a long with kevin hasit, former federal reserve insider. and leon calavarria. $630 billion in mergers and acquisitions, you can make money if you know where the next ones will happen. you will give it for you, back to you. melissa: the creative geniuses taking gritty metal shipping containers like disease and turning them into homes. you won't believe how they turn out. we will show you next. you can never have too much money.
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melissa: on wall street remain street here is who is making and losing money, anyone else a piece of groupnon shares thinking after all water forced quarter loss, $38 million compared to a loss of $4 million at the same time last year and groupon hasn't turned a profit since 2011. investors not loving this deal. shares down 20%, that is a big blow to andrew mason. and $25 million today, but you know who is getting extra cash? steven nick o'hern, goldman sachs, a personal loan backed by his billion dollar art collection. and picasso and andy warhol, the loan could come and a bigger time. and insider-trading last year, he needs to cough up nearly
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$2 billion in fines. speaking of our work, this monday just fetched $17 million at auction, and the masterpiece was sold to an unnamed asian buyer and hadn't been seen in public since the 1920s. paintings most of us like hanging on the wall of a fifth avenue apartment don't by billionaire eric clarke. can you imagine having him at your house? taking spare change out of the box with an inventive idea to build affordable new homes. steve harrison has the story. fill us in, very cool. >> they are cool. there are two models for sale now, one just 20 feet long, the other 40 feet long, small and costs $47,000, larger one for $57,000 and i can tell you it doesn't take long to take the house tour. you walk from one to the other, only eight feet wide because these shipping containers have to sit on trucks.
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they have something that opens to a queen size bed but the fact that they are snug is no problem compared to the manufacturer. >> i am not claustrophobic in here. i don't know if you are but i am perfectly fine with it. i could live here no problem. >> he touted them as being green since hundreds of thousands of shipping containers are decommissioned each year, pretty much resting in porch so he buys from sometimes for as little as $2,000 and begins refurbishing them into houses. he cast them as being potentially very good in hurricane areas. we are talking a shell of an eighth of an inch of corrugated scale. if you enter all four sides properly with corrugated steel land concrete it should do very well in heavy winds, much better than mobile homes traditionally do. >> watching the video closely did a car windows into a? there are windows, right? >> windows, sliding doors, fancy
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tv, model cabinets, they try to make these as comfortable as possible slow their pretty snug. melissa: thank you for bringing that to was. the kind of wealth that the white house country's debt for good. the world is getting ready for its first-ever trillion air. we have our suspicions on who it is going to be because at the end of the day it is all about money. ♪ [ girl ] my mom, she makes underwater fans that are powered by the moon. ♪ she can print amazing things, right from her computer. [ whirring ]
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seek immediate medical care for unexpected signs of bleeding, like unusual bruising. pradaxa may increase your bleeding risk if you're 75 or older, have a bleeding condition or stomach ulcer, take aspirin, nsaids, or blood thinners... ...or if you have kidney problems, especially if you take certain medicines. tell your doctors about all medicines you take. pradaxa side effects include indigestion, stomach pain, upset, or burning. if you or someone you love has afib not caused by a heart valve problem... ...ask your doctor about reducing the risk of stroke with pradaxa. so ally bank really has no hthat's right, no hidd fees.nts? it's just that i'm worried about, you know, "hidden things." ok, why's that? well uhhh... surprise!!! um... well, it's true. at ally there are no hidden fees. not one. that's nice. no hidden fees, no worries. ally bank. your money needs an ally.
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it's called truecar. and truecar users... save time and money. so when you're... ready to buy a car, make sure you... never overpay. visit today. melissa: this is going to take off a 99%. as the rich continue making it in we might see our first chilean air before we know it. financial forecasters figuring it could be as early as 2039 when someone steps into trillion air territory. the front runner includes bill gates obviously, even warren
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buffet. you know what we see on the show, you never have too much money but it does seem of little crazy. who is going to be the first trillionair? >> the the mark zuckerberg. mainly despite all our problems it is going to be someone in the united states. it will be fashionable to say will be a show or china, i think everyone over affair with a good idea would rather come to the united states to develop that company because we still honor intellectual property. melissa: you don't think it will be someone in a show or china? >> a lot of billionaires in china per-capita oil, they rival russia. to get to trillionair status you have to start something starting already so bill gates is a candidate for it, 15 years down the line. melissa: quote fora. if you look at entertainment,
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what about beyonce? they totally redefined how to be. redefined how to make money, how to build an empire. always thinking of the new way to create a new learning category. >> the first trillionair has to be innovative and generate cash in different ways that don't exist now. melissa: what about a russian oligarch? >> no. that is not a real economy. it is and oil economy, that will develop new technology, that will reward the creators and when you create things it is likely to be sold and there. i am an optimist. i'm assuming we will go back to the traditional american economic model and the pendulum will swing back from the obama era. assuming that happens we have a lot of strength, we have an energy revolution and rule of
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law. >> is it take related? >> technology of energy figuring out new ways to get oil gas out of the ground or beverly hills if this fracking and doesn't go through. but i think this is still place even with all our results that people want to start businesses so as long as it is true. melissa: technology in order to get the exponential growth to pick up to $1 trillion. >> the world's richest list, the top intervenors cod -- melissa: warren buffett, the koch brothers. >> it could also be someone who is the smart investor in technology and innovation. melissa: thanks to both of you. you have been a tremendous help to this show. that is all we have for now. of your making money today.
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liz: janet yellen speaks today, but it is alibaba i feel that has the largest buzz. will it give amazon and ebay some hard lessons on e-commerce? what do we know about alibaba financials? we have experts who rates companies before the ipo. m&a awfully worrying start this year. will some of the megamergers take over a bid even go through? we will ask one of the smartest and most experienced minds in corporate finance. it is a fox business exclusive. and hot wheels for high rollers. rolls-royce celebrating 110th birthday this week but will


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