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tv   Varney Company  FOX Business  March 9, 2023 10:00am-11:00am EST

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♪ stuart: okay. i was loving the music with the lovely sight of new york city empire state building. cold and clear. good morning, everyone. 10:00 eastern, straight to the money. the dow is now up 140 points, nasdaq up 73 points. very, very modest rally after
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all the selling. where's the yield on the 10-year treasury? that's very important after the nasdaq just backed away from the 4% level but still at 395. price of oil around $77 a barrel this morning and had been approaching 80 and now at 77. bitcoin, i don't understand with the collapse of so much in the crypto marketplace, why is bitcoin at $21,000? now this. for most of us covid we're still dealing with the damages of the policies in the past and for example novak joke vic and he can't -- djokovic and foreign travelers must have the job. i would have thought that the 2 million illegals who come here on biden's watch would qualify
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as foreign travelers but are not. they want djokovic to come to florida by boat. teachers and schools and soldiers and the military and healthcare workers and the healthcare. we are still living with it. dr. fauci didn't like that and he wondered what's called a single law enforcement still dealing with the exodus of officers and policy and there are major policy mistakes and
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prohibit it from hiring and firing based on vaccination status and california governor gavin newsom in the middle last week and unlike djokovic and tested positive for covid. second hour of varney starts right now. ron desantis determined to get more in the miami open and ben domenech joining me now and apart from the humor here is this desantis again laying out a
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national platform? >> i think it is and in one respect and reveals the id seizure disorders seizure disorders of this -- id seizure disorders yo seizure disorders and -- idiocy and arbitrary date and no reason to drop this type of mandate right now and something of their own choosing and the house under the republicans has already passed a more than that would get rid of it and the senate could take it up today and get rid of this stupid requirement, which again only reflects the people who arrive on air travel and as ron desantis says, djokovic could come by boat and have him arrive like someone fleeing cuba or something and could walk in and play in the open.
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the media and scientists that informed them. they're not looking back because we know what they would find. they were wrong about so many things. my real fear is we're not going to have the after action report that we'd have under any circumstance that looks back at choices that were made and the self-reflection on why the lab leak was some kind of racisttrope as opposed to what we now believe that make it is far more likely than the idea of a natural outbreak. but that's the kind of thing that i think a lot of people they just want to have this revisionist stance that says, you know, we have always
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considered this as a possibility stuart: if you don't learn history, you'll repeat it. ben domenech, thank you very much. former cdc director robert red field said dr. fauci sidelined him from the covid debate. lauren, why did fourth quarter chips act do that? fauci do that? lauren: redfield backed the covid leak early on and said he was left out of debates led by fauci because of that. >> this pandemic did not start? january at the seafood markets and there were infections back into september and they want add single narrative and i obviously had a different point of view. science had a debate and they squared any debate.
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>> it did from nih and state department and dod. lauren: fauci financed fial variety with taxpayer dollars. three years on, we don't know for sure where the virus started. on front tomorrow, the house will vote on a bill to declassify the intelligence on the origins of covid because there's a lot of frustration right now and fingerprinting and anti-fauci sentment to know how we got here when he might have gone in the beginning and looks like he -- known in the beginning and looks like he tried to squash it. stuart: i'm going to move on to the markets. we have a modest rally in progress after a lot of selling and dow is up 140 points at this stage. adam johnson joins me this morning. you say people need to be invested, invested in this market. the stock market. wait a second. there's the uncertainty -- >> i know. stuart: there's the uncertainty of the jobs report tomorrow, the uncertainty of the inflation report next week. why should i get into stocks?
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>> there are always jp morgan looked at returns over the past 25 years and annual return in and p500, 9-point -- s&p 500, 9.8%. if you were not invested on the ten best days of the years, your return dropped to 5.8%. if you missed the 30 best days, your return dropped to 0.8%. >> got to be time in the market not timing. stuart: in the 19 70s, stocks were dead flat for a decade. you put your money in there and got nothing. >> do you think the 2020s were the 1970s? stuart: i'm trying to draw a parallel between my fear of the future and any knowledge of what
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happened in the past. >> i understand. my view is that the 220s are not like the and the most number of people ever at work. it's very different from the 19 70s. i stuart: are you talking me out of buying trea treasuries and municipal bonds? >> i am. we are all portfolio managers. stuart: talking fresh money. if i generate fresh cash that's investable, i'll put into bonds, treasuries and bonds. >> okay, let me push back or
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that's 5% per year and what if i said you can buy the highest quality real estate investment and yields 6% and is trading at a record low. owns the five biggest cities in the country stuart: rit real estate investment. >> boston properties and the ticker is bxp. if you look at cities like new york, chicago, boston, san francisco, dallas, et cetera. the highest quality buildings inevitably in the cities are boston properties buildings. stuart: okay. i'm terribly sorry, -- >> we can't keep going? darn it. stuart: we've only got a three hour show but i'm interested. boston properties, bxp. >> bxp, that's my alternative to bonds. got to stay invested, stuart. stuart: whatever you say. thank you very much indeed. >> all right.
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stuart: lauren is covering her eyes here. lauren: you do that to me a lot, whatever you say. stuart: bj's wholesale club up 4%. why? lauren: good outlook for the year and they say their membership base is stronger than ever and renewal rate, all time high of 90%. people are seeking value, lower prices. stuart: american express, my favorite charge card, or credit card. lauren: increase dividend by 15% to 60% and stock up 1.8%, dow stock. stuart: is this three stocks, phillips, vallero, marathon, all up nicely. lauren: yes, all at a buy and increased price targets by about 30% on each for one example phillips 66 going to 139 and global refinery productions and russian demands. stuart: got it, thank you very much, indeed. thank you, lauren. no, one more for you. administration's new plan to cut manufacturing emission. okay. how much is that going to cost
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us? lauren: $6 billion and this is needed to fund industrial decarbonization if you will, but in this announcement from the energy secretary, jennifer grandholm. i thought she made a shocking admission. see if you can pick it up. >> we know even the boldest projections for clean energy deployment suggest that in the middle of the century, we'll be becausing abated -- using abated fossil fuels and we need to advance the technology for abating fossil admissions and advance the technologies for clean sources. we need both traditional and new energy. stuart: i got the admission. she admits we'll be using fossil fuels by 205. capturing greenhouse gas emissions and better for everybody. she said the quiet part outloud, we'll be somewhat reliant on
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traditional sources of energy in 2050. stuart: 150 -- sorry, 100,000 americans died in fentanyl overdoses last year and the director of national intelligence said violent extremists are a bigger threat than that. president biden withdrawal and one veteran called out the administration for ignoring his warning. watch this again, please. >> we were ignored. it was a catastrophe in my opinion and inexcusable lack of accountability and negligence. stuart: marine sniper and said it all could have been avoided. warning that america is facing complex threats from china, russia, and north korea. can we take them all on at the same time? we'll deal with that next.
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stuart: right now the house intel committee is holding hearings on national security threats that we face from both china and the mexican drug cartels. what's going on right now? reporter: hey, there. this hearing on national security threats is getting underway right now and see on the screen there that's the director of national security excuse me, avril haines and she's handing over to congress the annual threat acespedesment and it's a report -- assessment and it's a report talking about different threats facing americans, and that report stuart, mentions china and
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russia the most about 90 types and only mentions mexico once and fentanyl is in there about five times and the report doesn't mention the word cartel at all and senate republicans are taking matters into their own hands after we saw those two americans killed across the border. senator lindsey graham and others want to send u.s. military to mexico to defeat the cartels. >> we're not going to sit on the sidelines and watch our nation become a narco state that kills more americans in a single year than we lost in vietnam. >> both president biden and president lopez when it comes to the border and drug cartels have been sheep in sheep's clothing and this has gone on long enough. reporter: it's not just republicans, stuart.
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democrats who are from the border, they're open to this idea too. listen. >> we should be invited if they can't get it under control. reporter: we'll be tracking this if we get any questions about mexico and the cartels. stuart: like to see that. thank you very much indeed. the intel community warns that the u.s. is facing complex threats from china, russia and north korea. the director of national intelligence again avril haines said china is the leading threat. watch this again, please. roll it. >> in brief the ccp represents both the leading and most consequential threat to u.s. national security and leadership globally and its intense
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specific ambitions and capabilities make it for us our most serious and consequential intelligence rival. stuart: okay. china is the most serious and consequential rival. brett valakovich with me now. can we take on china, russia and north korea at the same time and are we equipped to do that? >> stuart, you forgot iran and that's one of the most difficult pieces and one of the most dangerous things that can be created from especially recent wars in europe is a formal alliance between china, iran, russia, and north korea. i don't think we are prepared at this point and china is already at worship god with us. we have an archaic military and industrial complex in the u.s. and likes to say it's built for speed and innovation and new china's government seems to get it and running a lapse around how they rapidly innovate and
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being clever enough to combine growing military power with its economic technological and diplomatic influence to further their goals. i don't think americans truly understand what's been happening in our country for years right behind our backs. china is quietly stealing our intellectual property and buying up land around military bases and gathering control around resources and succeed in gaining control over taiwan, which is a real possibility, the effects would have major consequences on global supply chains and chip shortages and to understand that, stuart, all you have to do is dig into what happened with regards to global procurement of the critical medical supplies during covid. we had to buy from china almost immediately. they had the ability to shut down global supply chains with the snap of their fingers. stuart: yep, not good. change the subject, a marine sniper that survived the deadly bombing at kabul airport in 2021 said leaders ignored his warnings about the suspected bomber minutes before the blast.
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watch this, please. >> eventually the individual disappeared and we believe he was a suicide bomber and made everyone aware that operations briefly halted and started again plain and simple we were ignored and our expertise was disregarded and no one was held actable for our safety and withdraw was a catastrophe in my opinion, and there was inexcusable lack of accountability and negligence stuart: nobody in command would give him that authority. that's not good, brett. >> it's unreal and it saddens me and time and time again our leereds fail them when it's unnecessary. here is a marine that's trained to identify threats and identified the thr thr threats d every single thing the american people and government asked of him. our military shown such great and strength in afghanistan and our leaders failed them.
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it's further proof of what happened in afghanistan and the botched withdraw and the american people deserve to know the truth of what happened here so people are held accountable and it doesn't happen again. for some reason, this continues to be the case. how many times in the past decade of soldiers in the ground being told to stand down or not do what's necessary to stop a threat of what's happened. i remember during my time in iraq, we were not allowed to conduct operations against senior isis leaders at the end of the war without having warrants signed by judges as if we're some sort of police unit and that withdraw led to isis where there's chances that we can stop the leadership and they regrouped and this is just another scenario where soldiers, you know, cannot do the job that they were taught to do and just a failure of the american government. >> stuart: that withdraw made us look weak and we've been paying the price ever since. see you soon, brett. >> thank you, stuart. stuart: officials investigating who was behind the pipeline
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explosions. do they think a pro ukraine group was involved and if so, what's the implications of that? lauren: huge implications and first significant lead about the party responsible for the underground explosions in the pipeline last year that would take natural gas from russia to europe. pro jew crane group and there's no evidence this is potentially explosive and could rattle nato and their alliance and what about germany and largely financing the war against putin; right? and also swallowing the high price of energy in the name of solidarity and if ukraine in some which way shape or form and if ukraine was responsible for that attack and europe is suffering for it, it's not a good look. >> got t thanks, lauren.
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stuart: randi wiengarten said kids do better when taught by unionized teachers. saratoga are huckabee sand -- sarah huckabee sanders sign add sweeping new bill for universal school choice and going further than any other state. we'll be back. ♪ you'll always remember buying your first car. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. at t. rowe price, our strategic investing approach can help you build the future you imagine. your best defense against erosion and cavities
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the company's fast-tracked phase 2 expansions, and ongoing exploration work support growing the mine life past its current 12.5 years. steppe gold. stuart: lots of selling recently and a little bit of buying this morning. lauren is with us looking at movers. microsoft. what do you got? lauren: you're welcome. up 1.9%. bing now ai powered and showing they're ready to take on their larger rival. stuart: say a and i recollects stock goes up. ai and stock goes up. roku. lauren: they're selling a smart branded tv and they sell the dongle.
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that little thing. stuart: yeah, yeah. lauren: they can keep up with competition from other streamers like amazon with their own television. stuart: why is build-a-bear on my prompter? lauren: they're up 26%. stuart: that's why. lauren: they're growing. teddy bears make your own teddy bears, customization, personalization, expecting full year growth up between 5-7% and stronger than expected and their freight costs are coming down and their gross margins hit 55% and that was an improvement. stuart: remember during the lockdown, couldn't go to malls and build-a-bear about disappeared. lauren: i do. they had the promotion to get a bear for the price of the age you were turning. stuart: yes. lauren: there were lines out the door and we tried and said i'll rather pay full price than wait in that line. stuart: take a look at this headline, it is from teacher's union president randi wiengarten saying kids do better in schools with teachers unions.
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karol markowicz is with us in florida and left new york and went down to florida and what do you say, kids do better with teacher's union? >> kids in school and influenced by the teacher's union didn't go to school. i don't understand how that could possibly be. of course randi wiengarten pre-did he understand she had nothing to do with -- pretended she had nothing to do with that and always wanted kids in school. stuart: moving the goal post and didn't want kids in school. had to be masked and vaccinated. right. all nonsense. stay there, karol. governor of arkansas sarah sanders signed education reform bill. eliminates teaching critical race theory, bans gender orientation before fifth grade and increases teacher pay by $14,000 a year. karol, it seems to me that arkansas is ahead of your beloved florida. >> let's not get crazy, stu. arkansas is doing great and i love what she's doing and she's in a very deep red state and
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florida is newly red and desantis is doing what he can, i think. it'll keep moving in this direction because this is the way, this is the path of sanity that parents want and they don't want this nonsense taught in schools and want kids to learn math and reading and science and social studies. stuart: school choice has taken off. >> i love school choice and it's the path of the future and we have to fight for public schools and that's why the curriculum bibills are so important also. school choice is the future, but right now we need to fight for the public schools as they exist right now. stuart: fair enough. growing number of school districts are adopting a four-day week. >> moving to four day workweek too; right? how are parents with kids in school supposed to do this? we've divorced the whole idea of child care and schooling during the pandemic but schooling is absolutely a portion of child care. the kids get cared for while the grownups are working. it's our system. if they want to design a new
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work system, let us know but i don't know how a four day school week works. stuart: your book stolen youth and all about the schools and what they're doing to the children. you had a book party in new york city last night. >> last night. stuart: what happened? >> we had protesters show up and scream black li lives matter and throw drinking glasses and my coauthor who had her baby with her got wet and could have turned ugly and it's forced con forty coming to -- conformity coming to network and i grew up in new york city and love the independent and freedom-loving city and it's become a place where protesters feel they can be violent in public and nobody cares and nobody will do anything about it. stuart: karol good luck on your new book, stolen youth. thank you for being here. still ahead, attorney general of colorado says buying drugs on social media is almost as easy as calling an uber. we have a report on that.
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23 protesters charged with domestic terrorism for training in atlanta and one was granted bail because he's a lawyer working for the southern poverty law center. jason rantz following the story and he'll tell us how they're connected, next. ♪ lomita feed is 101 years old. when covid hit, we had some challenges. i heard about the payroll tax refund that allowed us to keep the people that have been here taking care of us.
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stuart: on the markets and dow such 15 points and close to half a percentage point higher .x then this, democrat senator michael bennett ripping the administration for handling of the fentanyly sighs. he's a -- fentanyl crisis.
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he's a democrat ripping the democrats administration. watch this. >> colorado is being overrun by fentanyl. and we're at a point now where when a kid dies who's the age of my his children, i no longer ak what was the accident? i don't see any evidence that we're getting the cooperation that we need from mexico to deal with this crisis at the border and we haven't made progress and things have gotten a lot worse and during the course of this administration sorry to say. lauren: colorado saw nearly 1800 overdose deaths last year and half fentanyl related and colorado is not on the border and very far away so fentanyl, deadly flowing into all of the united states. it's killing kids who might just want to try a drug because that drug is laced. i'm not pro kids trying drugs, but it's not supposed to kill you. stuart: 1800 deaths in colorado.
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lauren: last year because of overdoses. stuart: 1800 deaths from overdoses. my goodness me. senator tom cotton criticized avril haines on the fentanyl crisis here in america. take us through. what did tom cotton say? lauren: this was annual threat assessment hearing and senator cotton was shocked when the dni said racially and ethnically motivated extremists are a more lethal threat here in the u.s.. stuart: what? >> how many people were killed by racially and ethnically motivated extremists in the united states last year? >> i don't have the exact number but i'll get it for you. >> how many people killed by fentanyl in the united states last year? >> as you know, over 100,000 for fentanyl. >> isn't that a more lethal threat? >> absolutely but it's not being compare against fentanyl in this state but a context of terrorist threat,.
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lauren: should the mexican cartels be labeled terrorists? look how many people they're killing. stuart: label them as terrorists and go after them. thanks, lauren. the attack in atlanta and attorney general of georgia joined our program yesterday, chris carr, and said the only suspect granted bail was a lawyer for the southern poverty law center. jason rantz is all over this story and following it forever. jason, who is -- who are the national lawyers guild and the southern poverty law center because they are involved in this. who are they? >> they are. so both groups are separate but they work effectively for the same purpose. they're both progressive groups and we're talking about the lawyers, they coordinate with the various activists and show up alongside them with the intent of helping them. with the intent of going after the police so when someone from an antifa side or other agitator groups end up getting violent, well, guess what happened, you have the lawyers that are ready
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to defend the folks and pre-send when they did wasn't violent ant and place the blame on heavy handed tactics of police. look at their involvement and they'll always defend the violent people and make the exact same claims about the police and heavy handed responses if you're not supposed to make arrests or be heavy handed when a molotov cocktail is lobbed at your head. coming to the southern poverty law center they've been mainstreamed by a lot of left wing media and go ahead through a social justice lens they'll determine and claim which groups or individuals are white supremacsupremacists or right wg extremist groups and they side with extremist groups and don't acknowledge that antifa or violence from left wing organizations exists and their goal is to go after the right. unfortunately a lot of media outlets give them that power and frankly a lot of politicians as
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well. stuart: was this group connected to antifa? >> we don't know. so there are individuals that certainly acted out as if they were antifa and you look for certain kinds of clues, which include the way they dress in this case it was in black blah, the kind of weapons like molotov cocktails and the fact is they didn't come with the exception of two from georgia, they came from out of state and in a couple states out of country and there are the telltale signs of antifa and as an organization, there's no national antifa group but there's like-minded people that connect with each other and they organization on social media and they self-proclaim as anti-fairists and if you have a vin diagram and in the middle there's shared ownership of both sides. stuart: got it. advocacy group is warning a new
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bill in washington state, that's your area, would criminalize free speech and the minister of truth that some would have free speech and others would not. wait a minute, jason, what's in the bill that criminalizes free speech? >> so the bill in particular basically says we're going to create this commission that looks at extremist language. not extremist action but the intent is to go after speech before it becomes to the point of right wing extremist and i say right wing because they're not looking for left linguoversions and -- wing organizations and there's antimask and anti-vax seen and antigovernment and speak out against the gender ideology that pretends there's like 17,000 different genders and good news, that bill late last night is dead. for now.
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they spent a lot of money doing research into a public health response to right wing extremism. here's the lumis, when you say it's a public health red response, why is it under the attorney general's office? they're seeking to go after speech and they don't hide that. stuart: god it. jason rantz, always good on the point. see you again soon. >> thanks, stuart. stuart: we told you about the planes nearly colliding or in some places wing clipping at airports. well now lawmakers want answers from the faa about this. connell mcshane has the story in a moment. a drone company in seattle helping with recovery efforts 24 turkey after the devastating earthquakes and we'll talk to the owner of brink. that's a drone company. what can his drones do that others can't? by the way, this owner is 23 years old. we'll be back. ♪
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stuart: going to quickly show you the market. we're up now 150 points on the dough, modest rally and that's nasdaq up 76 and by the way, american express goldman sachs and microsoft are adding 98 points to the dow. microsoft, they're using ai on their bing search engine and
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that is bringing in 100 million daily users. that's why microsoft is up 2%, $5 a share on the upside. lauren: it's senator miranda saying so many customers are contacting her office complaining they don't know how to get their refund from southwest. not just for the flight canceled and more than 16,000 canceled but also for reimbursement of the other flight they had to buy. they're asking for information and they're not getting it. stuart: they're going to pay a high price for that christmas meltdown. planes nearly complieding or -- colliding or nearly wing
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clipping and connell mcshane was asked about this particular issue and what did he say? >> he said he wasn't sure if he's occurrences are on the rise and we are reporting and looking at numbers it's clear that the near misses we've been reporting on have been going up in re-vent months and in january of this year, there were four. if you took that for a full year and kept that pace and you'd reach unthinkable 48. all of last year, 18 serious runway incursions occurred but when the acting fed of the faa was asked about whether there was an increase, he said this. >> every time we started to see are there trends we don't know and bringing in stake holders a week from today and we will sit and talk about lawler are row seeing and gastroenterologist them a opportunity to gobbing -- give them a opportunity to go back to operations and come back with concrete examples. reporter: there's been six concrete exam les so far this
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year. remember the two planes that nearly collided last month at boston and logan airport? that's when one took off without permission and a jetblue pilot in that case that had to take evasive action just barely avoiding disaster and that said billy kno nolan is being floatey possible head of faa by senator ted cruz and president biden's pick phil washington and pilots here at newark and other airport airports are dealing with soaring f fares and up by % and pilot pay is expected to increase as deals are worked out with the various unions and a lot for flies to deal with. on the safety issue, looks like, stuart, we'll have to wait for the so called safety summit you heard about that's set to take place next week. stuart. stuart: connell mcshane, thank you very much indeed. got it. a seattle drone company deployed
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high-tech drones in turkey after the earthquakes. blake reznik, by the way he's 23 years old, he's the founder and ceo of brink. that's a drone company. blake, welcome back to the show. can your drone see into places that rescuers can't actually go? >> yes. that's is very much the case. our drone is capable of getting into places that otherwise might be impossible for for rescuers to reach in partially collapsed building scenarios. stuart: are you getting paid for this or a pro bono rescue? >> this is fully charitable. yeah, we sent two of our staff members out and four of our systems so they've done some really good work out there. stuart: i want you to tell me about this new generation of drone that you've got, l l-e-m-u-r, lemur 2 drone. what's the special? >> quite a lot. as our drone is flying around, it's basically generating a full
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three map of its environment and it's facing basically lidar imagery and sending out a bunch of lasers and bouncing around and coming back into the drone and then it's actually generating like full blown 2d floor planes as its exploring so first responders know exactly what they're getting into. it's also nda compliant, which basically means it has no chinese parts, which is extremely hard as it turns out because pretty much the entire global drone supply chain is based out of china. lots of other cool stuff now, radios so drones can extend the range of other drones operating in the environment and lot of really exciting features in this one. stuart: what you need is publicity and i think i'm giving you some right now. >> thank you very much for that. hugely appreciate it. stuart: most welcome. tell me the price of lemur 2, how much? >> yeah, we're selling -- this
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one is a service so basically we're bundling lemur 2, lemur 3, in a couple years, lemur 4 all over five year contract so the goal here is that we'll work with lots of public safety agencies all over the world, and we'll talk to agencies and figure out the number of systems they need and come up with a price that makes sense. stuart: milk it as a service going forward. i got it. blake reznik, thank you for joining us. see you very soon. >> thank you. stuart: check the markets and on the upside, 126 higher for the dow and 10- year treasury, very important and yield below 4.396 and two year at 5% or higher? no, it's at 497. maybe that's why the market's recovering a bit. still ahead, dan , former texas congrecongresswoman mara in othr words flores and more. hundreds of thousands of young techers have been pink slipped
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