tv Maria Bartiromos Wall Street FOX Business December 27, 2019 9:00pm-9:31pm EST
don't hold back to you. and i don't hear the door slamming. kat tim thanks so much for stopping by on this friday night. and thank everybody for joining us, have a wonderful weekend, maria's wall street was coming up next. >> from the fox cities in new york city here's maria's wall street. >> happy weekend everybody in my christmas everyone and analyzes the week that wasn't helps positioning for the week ahead. i am maria and coming up just a moment in my exclusive interview with the ceo of verizon, hans vess berg is here on the power of 5g technology. right take a look back at the key interviews with the best on wall street in 2019 is a representative of the year. but first what investors should expect in 2020 is the farmer is only mouth, me thanks for joining us. so it's been quite a year.
it's a really, really busy or. how would you characterize year for investors and would expect in 2020. >> how about the last decade. it's been ten years now tend to thousand ten to 2020 send of a decade as well. and by some metrics globally, this is been the most positive decade in human history. around. inequality, rising access to capital expect and see if you look at statistics, it's been an amazing decade. but it doesn't feel that when the developed word for a particular segment of society and that is the working class. so that's why in 2016 and 20's you had the brexit and the trump election. it's the advancing the working class of the working world. the manifestation of that is the new trade deals. >> yet you you mca was positive, it was a big victory for president trump. they are talking about, we had five lighthouse on the show and he set up to 200,000 jobs from usmc a.
>> i'm also seeing a percentage avenue into gdp. i think it's the most formative trade billy patton half a century. this is had the support of both the democrats and the republicans, it's got labor behind the free trade deal. we have never seen this before. it is a brilliant, brilliant accomplishment for this administration it so wonderful to see the house support it. it's going to have a huge impact on labor. as you know our gp is 70% consumer, and only run 20% manufacturing and labor. because the outs to china. this tries to address that imbalance and protect the farmers in the labor in this country. and by the way it's just brilliant electorally. so think about the states that benefits the most from usmc a. it's places like wisconsin, ohio, these are gonna play huge huge role in the upcoming election. you cannot win the presidency without going to the midwest industrial belt. maria: that's a great .2020 is all about the election.
anything else on the horizon is gonna dictate performances. >> i think one of things i been looking out which isn't talked about enough as the price of crude. what is so strange as i remember even ten years ago, used to spike and goad now and they have the gop political issues. think about what we're able to do now pre-because united states has become such a producer of natural gas and crude, we have been able to influence international policy in a different way than we ever could have before. so we have sanction places like iran, venezuela, russia, and it has had no discernible impact on the price of crude. this is another very interesting aspect of foreign policy that is totally intertwined with markets. so i think that is one of the real great benefits of the united states becoming a producer of this commodity, and now being able to influence our international system. and of course you see the saudi's are having to respond to that with their recent ipo of aramco. recently cannot rely on a society on that commodity any longer. and it's changing their society not only with ipo but even socially. maria: it's nice to see the
u.s. can be independent and be a producer, you don't have to be reliance on the saudi's or than bitter easter on oil. >> again dovetailing it to presidential politics. it's one of the reasons president trump in gabbard's policy has moved so much they both talk about endless wars. in those wars looking back to iraq, and libya, were certainly influenced by her need for that commodity. so they take that equation outcome as you.out, and it is much more independent minded as it runs as farm policy and hopefully doesn't have much conflict. for now for the deer we get the news blumberg's ceos out. he's brought david calhoun coming into become the ceo of boeing. your thoughts? this is one of our leading exporters, boeing, but has some real missteps this year. >> it certainly has, this is a tough situation because there are really only two majors here it's boeing and airbus. and one is the u.s. company and that's the one aside doing
so well. so it's a delicate situation because it's also a big employer. but they have just had so many missteps with obviously controversy with the 737 and will happen in space, so they are being outplayed, you needed to have a change of the top. this is overdue. we'll see if they forget that plane back in working, but you had to get rid of the ceo, that's just good governance at this. but the united states could not have boeing fail. maria: the company sometimes you have to see somebody take the heat for two fatal crashes by the way. david calhoun will become the ceo boeing effectively january 13. let me move on to the private sector. this is your where you go. you invest in private companies and they've done really well. a lot of people feel like when an investor gets a chance to finally invest in a company, when their public comments almost too late. we had the chairman of exchange committee jake lane, and he talked about a plan that he has two encouraged investors to buy into private
companies way before they go public. that's what is working at with the fcc right now. watch us. >> our main street investors do not really have access to private capital opportunities. that troubled me on a policy level and on a personal level. i want to make sure there main street investors are getting a broad opportunities at the reflex economy as a whole. so we're looking at ways for them to access that whole spectrum.
>> your reaction. >> we seen this movie before. a lot of people are plotting it, i take the other side of that. maria: you disagree with clayton? >> i disagree with clayton i have seen regulators act with noble intentions or try to broaden opportunity. most notably and most recently would you member george w. bush talked about a homeownership policy how did that work out? so encouraging people to take on risky investments when they don't have that much savings, i mean 40% of americans don't have $400 in her savings account. this is not an area you want people speculating. there is very little disclosure on the private businesses it's only meant for institutional investors. maria: it's great to talk to you thanks so much and have a happy new year. don't go anywhere my one-on-one with the ceo of verizon hands of vesper coming up. do you have concerns about mild memory loss related to aging? prevagen is the number one pharmacist-recommended memory support brand.
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maria: welcome back, the power of 5g technology. the race to tap into its computing power will be huge in 2020. verizon and amazon web services are taken that big leap forward partnering together to launch mobile cloud computing using the power of 5g. i spoke with ceo of verizon hans vesper, but the companies invest venture and how 5g will change our lives in 2020 and beyond.
>> i think in the beginning on the air we outlined three different things based on 5g it's so different from anything else and has so much capability p the first one is what we all know is that will define mobile ability you have on the streets here you have the smart phone. the second is 5g at home when you actually use 5g for the home broadband and the third one is what we announced yesterday and that's the 5g mobile age compute. that's when you bring the processing and the computer storage very far out to the edge and you start new services. it's also for consumers. and that's their first in the world we're doing right now to bring that together with the cloud company and we are doing it together with amazon. maria: so this is also targeting corporations and chart of aws and isn't companies, big institutions that are really going to see the effects of 5g before and the vigils? >> they arty have these up as a preview with amazon in chicago on the real estate,
the 21st customers we've announced in one is a gaming company vivid when they are doing superlow latency they have extremely highly professional gaming scene need low latency see is that for 5g. and the others the nfl, and they are so much more cameras and so much information in the stadium. so you need that computer storage close to that stadium. maria: what you need to do in terms of more wyler's capacity? another issue that came up veteran analyst day was fcc and the broadband. telling about that. >> i think we have all the assets for wanting the 5g comment we've already launched all the services we planted. we have expansions of it we are in and inquire mobility were going to be around by the year-end. we want to continue with that. and of course the 5g mobile edge compute first center is now launched, we are going to launch more centers in 2020. so we have all of that that we
need, but we are always looking how to advance our portfolio. but right now we are happy with the assets we have periods before so no worries at at&t is advancing more capacity under its markets. you think you're well-positioned in your 5g platform? >> absolutely first all we need to member we have the best network in the market. we are still continuing to invest in that. we'll continue to do so. at the same time we are using network. remember 5g network, for fiber it's sort of virtual like network, it's things we've been working on for years. then of course we have a very unique position where you need to use the spect and that's high up. it's in norman's so again we are happy with our assets but we are always looking how to enhance and plan for the future. maria: such a competitive backdrop. how did the disney plus promotional move work out for you? in terms of the offer?
at that have a big impact? sumac i think a very big impact. this is of service we know we have the best network, the best distribution in the greatest brand. we can partner with anyone we partner with the best brands. and this is a win-win. we are gaining, and they are gaining in this partnership and we have not disclose our numbers and i know it we are both very happy the way this is going and how excited our customers are for having disney plus. and it's not only wireless it's on 5g home, and finally we can offer the very, very interesting distribution channel, and that's why we want to be inclusive. we went to be exclusive because we see these companies we also see a great value to be at this. maria: so the balance sheet at verizon as well as dividends, tell me about how your are balancing investing in 5g continuing to invest will also continuing your cost reduction plan? >> i think we have a good
balance, we do have a very great company with comes execution, but the priorities may come to s-uppercase-letter's number one invest in our business. especially our network. and we are doing this year will we have guidance with 17 to $18 billion. and that's in the network which is quite a big number. and whatever else we need. and then secondly we want to put our board in the position chickens continue to increase and that's we've done last 13 years. and ultimately resolve some way to grow to get to our next level. so it's between 175 to two times the net depth. we are almost there. so that is how we actually use our capital. but we are prudence, we want to have a good balance sheet we want to prepare for the future. maria: what you see in ceos out there investing in 5g, and investing in telecom in general? we have a whole discussion every day about cap ex is slow
down, the economy slowing down and companies are insert into their sitting on cash. >> so during this year probably together with my team that some 5060 ceos, with some of the largest countries in the companies we are talking about 5g mobile with them. and they are very excited for how they can transform and digitalize their business. when it comes to 5g. so they are very interested but they are also using these coming after member if you have a large corporation you have already infrastructure so take some time to start transforming up. but clearly our 5g platform with low latency, massive boot, everyone is connected devices. that's a very attractive any industry at the moment. maria: my thanks to hans, don't go anywhere more wealth through me and we come back paired will look at the best ones in 2019. (chime)
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maria: welcome back what year it has been, 2019 has been an amazing one. and we have been honored to bring you some of the biggest newsmakers in business and politics on this program. take a look back at incredible year of wall street. >> facebook as it is sicker, it's addictive and bad for you. they want your kids. now they are posting political ads with incorrect information. they are passing your information to 50000 other companies, yell even know it's happening. and now they are buying assets like whatsapp an instagram, and commingling all that data, and if you saw that netflix special called the big hat, they are creating market segments : the persuadable's and shifting elections based on that data. while that's not good. nobody wants that. we want a society based on trust and truth. that is so important, that is something that we need to be committed to. we have to focus on trust as
our highest value. maria: you think these companies would police themselves and not gone to this. a year ago we were watching a murder on youtube, i mean there should be in-house policing of some of these companies so that washington doesn't have to dig their hands. by that looks like that's where it's going. >> i think there's bipartisan agreement that section 230 should be abolished. and that we need to move ahead by holding everybody accountable for what's on the internet. and it's really about our kids. when these when they start going after children, there is no line that they won't cross. it's almost like google walking away from project maisie and working with china days and any particularly military there. imagine if that happened during world war ii when our greatest companies said we don't want to work with you, u.s. government, we want to get a foothold in imperial japan. >> or even during the cold war against the soviet union.
i think it is unprecedented in the last hundred years that a major u.s. company refused to work with u.s. military, and has worked with our geopolitical rival's. and this is not a liberal conservative thing, this is an absolutely unprecedented. >> the public should look and say china is purse surpassing the united states. not really comment we have all the food and water and energy we need. we've got the pacific in very good neighbors to canada and mexico. and they are founding fathers gave us the gift of freedom of speech, enterprise, religion, we end up of the most vibrant businesses in the world is ever seen. but that's universal on an innovation. it's not all going away. they don't have all of that. they are in a very tough part of the world. they don't have enough food and energy, people are in poverty and they are very smart. i don't want to disrespect them. they have a lot that gotta get through. and i think they're knocking
to do, things we want, they're gonna do it for themselves. maria: you look at some of the evaluations of the private market. they are excessive. i don't know? are they excessive? edition say that. >> of course not they are made up, they have no reality of the group of the people in the room that say oh, we raised money at 2 billion last month, so let's raise another hundred million dollars and call it 4 billion. they'll say yes, and people buy into that basically because they think there's going to be around be on that and they will double it to 6 billion or 8 billion, it's all down because it has no basis in actual math or in a sense of what are the earnings going to be. it's just, i think it's just shooting stuff in the sky that will truly fall into the ground. >> right now about 14% of the
american people are functionally illiterate. 32million americans cannot read passed a fourth grade level. can't read past fourth grade level. 1.7million people drop out of high school every year, many of them are functionally illiterate paired two thirds of the people or juvenile delinquency system are functionally illiterate and about two thirds the people in our system prison system are functionally illiterate. you take away the money of the wealthiest people that socket is solved illiteracy problem. we have to deal with education, we have to deal with problem of the bottom and taking away money from the top isn't gonna take away those proms overnight. maria: you're so right and i think is a country, and the u.s. in education will be like h or 30th tuck, some crazy number, or timeout middle school in grammar school not universities. smack will the literacy is not in the top ten, we are not assigned literacies we should be able have a k to 12 system that is not working very well. it's not going to work better all the sudden if we take money leaving the top people in the forbes list or something like that. maria: this is what i wedding on the campaign trail i want to hear about education.
>> education is a thing that enabled me to it come from very modest circumstances. my parents did not graduate from high school and i wanted to graduate from high school, college, and grudges go. and that is a dream many people have is to do better than their parents. and parents now are worried that their children are not going to be able to do better than because many of the problems we have in our country. maria: so let's talk about sonny's proposals from the left. medicare for all? free education,. >> 20 say something at first for a minute. bernie sanders agrees, admits he made a million dollars. i'd love to know how much she specifically given to charity? okay? that's all. i know i am happy i would rather be with the wealth i have the knees nonsense list of who is rich, but what i've given away. let these people come forward, there talk about the wonderful things they're gonna do with our money, that's fine. what do you get to do with
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male anchor: ...an update on the cat who captured our hearts. female anchor: how often should you clean your fridge? stay tuned to find out. male anchor: beats the odds at the box office to become a rare non-franchise hit. you can give help and hope to those in need. maria: are right that is right for this week thank you so much for joining me and catch this program every friday night at 9:00 p.m. eastern right foxbusiness bear don't forget to johnny and fox news every sunday, sunday morning futures on the fox news channel's live at 10:00 a.m. eastern this week and we've got a special exclusive interview with chuck grassley. the senators in her talk to us about the impeachment trial coming to the senate, as well as 2020. charles grassley, my special guest. plus tune in every workday right foxbusiness from 69 is during our mornings with maria start the business every weekday with us.
hope you'll do that. and that'll be just friends now have a wonderful new year end think it's much for joining us. from all of us here wishing you the best in 2020. i'll see you again next time. hello and welcome to the wealthy journal large peers well we are in the final few days of 2019, and overall it's been an eventful year in the business and financial worlds. stocks of course has soared by double digit percentages with the dow jones industrial average breaking both of the 27 and 28000 marks during the year. setting where that it doesn't record high closes. companies such as apple and disney led the way as they too made record-setting look easy. businesses hide to the breakneck pace, the labor department says about 2