president obama. they all could have looked like press releases, just the laudatory pieces about obama. that is perfectly fine if you going the same thing for the republicans. instead for the republicans you get "wimp factor." that is what i mean by newsweek having no semblance of fairness. i don't know we don'tists have them in the office. they need to go in the trash. >>eric: and now another one, the side by side with romney and the mormon factor. not a flattering picture. i am sure he did not pose for that picture. and the other side, president obama looking presidential. with a halo. >>guest: right, you can have the mormon factor in there but you cannot have the jeremiah wright factor. you will not see coverage about that with a questionable religious practices that president obama has had. it is a double standard.

>>eric: maybe this canbly well -- this can play well for romney. maybe it is okay for him to be the wimp, the normal guy, nothing out of the ordinary. but that is what the the american people want rather than a guy who wants to hobnob with celebrities. >>guest: maybe it is good that he was attacked by the news media. look at newt gingrich, he pushed him into first place. the news media has a popularity rating lower than congress if that is possible. if you are attacked by these people, that is not necessarily bad. >>eric: romney did not want to make an issue of it. listen to the response. >> if i worried about the media said i would not be able to sleep. and i am able to sleep. >>eric: you have to like that response.

>>guest: the back of his hand dismissal of them which is a good thing for a candidate to do. >>eric: instead, he will stray -- stay on his message. that is, the economy is not working so maybe a little hope and change for real. >>guest: if i advised romney i would say when you are attacked, remind the public who is attacking you. when you see one of the covers, just say, what do you expect from the press? this is not objective news media. the people are 100 percent in the tank for president obama. just remind the public. >>eric: thank you, brent. two big corporate take overs in the works totaling $4.5 billion. and at&t is besting their stock buy back by up to $11 billion smackers. corporate america is spending loads of cash but not on jobs. and "wall street journal" is very concerned. explain what is going on. big companies, companies with

the cab, -- with the cash are buying their own stock back. why is that bad? >>guest: well, as i know, what is going on in the economy is severe, severe risk aversion not just by businesses but by households and consumers. we saw that in the record on the g.d.p. that came out on friday. so, businesses don't want to build new factories and they don't want to invest in new plant equipment or hiring new workers because this is so much uncertainty, there is a big black cloud over the economy. that explains some the mergers. mergers are not a bad thing. sometimes they can be well-enhancing, industries think they can expand the markets but the latest mergers are a contraction of the economy. nobody sees great investment opportunities right now. >>eric: you are 100 percent right, buying back your own stock is not necessarily bad but

the reason the c.e.o.'s are doing that could be concerning. people did not want to hire new people because of what? >>guest: obamacare is a problem, and the big tax cliff, and the big data, whether we will do anything about dealing with that. but the ultimate sign of risk aversion in this market right now, what is it, 1.4 percent own a 10-year treasury bond. people are buying at a negative real interest rate, paying the government to hold on to their money because they are afraid and do not want to inject the money into new businesses and new equipment and a new plant a very disconcerting trend. it could end quickly if we saw change in november. >>eric: the companies would hire again rather than buying back their own stock and merging with other companies. >>guest: and investing in things to protect their

principle. >>eric: why aren't they investing in plants and equipment? they have to buy new technology. china is knocking on the door. >>guest: a good example, why would you want to invest a new plant and equipment and new workers if you are facing a big tax increase on dividends? if you increase a tax on something, you get less of it. it is not surprising we are not getting a lot of investment. president obama is saying, if you invest we will slap you with a higher tax on your profits. >>eric: and another part of the puzzle is consumer demand. is there consumer demand? >>guest: it is weak. you saw that in the friday report. consumers are starting to feel more stingy about their spending. that gets to the point we are talking about. the number one factor holding back the economy is the fewer

factor. you release that fear factor and we i could get a big burst. >>eric: can you not build new plants without consumer demand but if you have the cash you can buy back the stock. a smart move by c.e.o.'s. thank you, steve. 99 days away and this will not go away. >> if you have a business, you didn't build that. somebody else made that happen. >> he was trying to say, wait, you didn't build that business on your own, the government helped you build it the that ticked me off more than anything. >>eric: pat caddell on how big a problem this is for the president. i said over the week, i owe it to president obama i will run on the roads he build there. >>pat: there you are. bless him and thank him. >>eric: what is wrong with the

ad? >>pat: nothing wrong with the ad. it deals with a worker, and there is another ad of scott brown which is devastating. in some ways this issue is was written in the "wall street journal" we have an election of the government versus the private sector. the president stumbled so the white house is trying to walk it back. they tried to put everything around it because it was a devastating blunder if you look --. >>eric: president obama is a smart guy, constitutional scholar, harvard, and just a smart guy spending a lot of time walking back some of the things he said. >>pat: usually it was on a teleprompter. candidates are dangerous with teleprompters, even the president. but he does this because it is

inextinct. it wasn't just the words. it was the body language. it was -- everyone says it was out of contempt. that is b.s., the context is what he said. you didn't build this. >> we have hashed that out. scott brown has a good ad out if we can watch that. >> government understands that jobs must come from growth and a vibrant system of free enterprise. >> i'm so proud of our system of government, our free enterprise, where our system and our men who head our big industries willing to get up at daylight and work to midnight to create new jobs for people. >>eric: we made a mistake because those were democrats saying that. >>pat: i thought that was smart because it goes into obama and scott brown takes it to elizabeth warren, the architect

of the statement "you didn't do it, we did it for you." which a last democrats, and particularly more moderate democrats and those who believe in the free enter surprise, that marginalizes obama. that is the ad that romney should run. >>eric: so, stay on the "you didn't build that," but point out --. >>pat: that is out of the mainstream. rasmussen had numbers last week, overwhelming whether they believe the people who build businesses, the 72 percent who say that people who start small business primarily are responsible for the success, or failure, 72-13. they say small business work harder than people in government, and work harder than ordinary workers and they risk more. americans understand how progress is built. they understand it is not a single effort. the president want saying we helped you. he was saying we do it and you are lucky we do it.

that was the subtext of the message. >>eric: obamacare tax kicking in and a company's plan to build five new plants is out. how many jobs are out along with it? this, you've got to hear.

>>eric: the president's health care is hitting a medical device maker directly in the wallet. cook medical says the medical device tax means they cannot

afford to expand or hire to the tune of 1,500 workers. the executive vice president of cook medical, thank you for joining us. you were planning to add five new plants in the midwest and now the plans are off the table? >>guest: we hoped that would be our strategy for growth move forward the next few years. we had a plant facility we opened in illinois which was a tremendous success. a few years ago we had 300 jobs in canton. the community was supportive. we hoped that would be our model but now we cannot go down that route. >>eric: you estimate this could cost you $20 million or $30 million a year, is that right? >>guest: that is right. >>eric: we were talking about 3.8 percent medical device tax in obamacare that could be possibly not realized is in the if the law? >>guest: the tax, the additional tax we did not have

before, so, sometimes people think of it as a sales tax but what it really is it takes 2.3 percent of our revenue and hads that to our tax bill. >>eric: so 2.3 percent. so, $20 million or $30 million so you decided not to hire the people to build the plant and did i read you are looking internationally to open plants elsewhere? >>guest: well, we are primarily a u.s. medical manufacturing company with facilities in indiana, north carolina, and california. we were hoping to add a facility here in the united states. as the tax burden increases and as the challenge of adding facilities here in the united states, we are looking to add on additional resources in ireland and other places where we have existing facilities. >>eric: so you have created 300 jobs the last time, at other planet but bought so 300 times

five. are we talking 1,500 jobs. >>guest: that is about right we looked forward to in the next five years. we are looking to add another facility. we are a global organization so we have 10,000 folks around the world. what we have to do is look, where do we add resources next? >>eric: sir, let me saw, how long in advance do you do that? if they pull the tax is it enough time to save the 1,500 jobs? >>guest: it takes at least two or three years to work out the plans for every facility. we started looking at canton three or four years ago, maybe five years ago and it took us, and we still ongoing adding jobs, we had 30 jobs in can done, and up to 100, and up to 300 very quickly. >>eric: it will confident you $20 million or $30 million, and another company up to $175

million a year for them. so the numbers, clearly, are big and putting a clamp on hiring. we have to leave it there. thank you, sir. >> president obama and bill clinton. one campaign decision could have everyone fold. [ breathes deeply ] ♪ this is where the dream begins ♪ ♪ i want to grow ♪ i want to try ♪ i can almost touch the sky [ male announcer ] even the planet has an olympic dream. dow is proud to support that dream by helping provide greener, more sustainable solutions from the olympic village to the stadium. solutionism. the new optimism.™ ♪ this dream solutionism. the new optimism.™ how do you know which ones to follow? the equity summary score consolidates the ratings of up to 10 independent research providers

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>>eric: former president clinton will give the key note speech at the democratic national convention. the topic by president obama deserves a second term. has the campaign forgotten this? i personally don't believe we ought to be raising taxes or cutting spending, either one, until we get the economy east ground. this has been a dead flat

economy. >> there is in question that in terms of going to the office and basically performing the essential functions of the office, a man who has been governor and has a sterling business career crosses the qualification threshold. i care about the long term debt of the country i am the only guy that gave you four surplus budgets out of the eight i sent. >> they will put everything off until early next year. that is the best thing to do right now. >>eric: is clinton behind the president 100 percent? my guest is not so sure. those were his words? >>guest: the big four that people point out and suggest bill clinton is not president obama's greatest fan. and there was a new anecdote put out yesterday with an interview with john mccain who in an off the hand comment, not even the

major point of the column mentioned in 2008 when he was running for president he talked to bill clinton during the campaign for policy advise. that seemed strange. why would bill clinton who endorsed obama and was supporting obama call john mccain to give him policy advice during the campaign. it was not like, for instance, you might say, well, he was acting like a statesman if he did the same thing in 2004 with george bush or john kerry but george bush would have been president and had policy control. why give advice to john mccain who has no possession over the power and is merely trying to run a political campaign against the guy he endorsed. >>eric: why did he pick bill clinton do keep a key note speech which i believe is where he actually turns over the nomination to president clinton. why would he do that? >>guest: well, that is part of the counter argument that if they were not such good friends

president obama with not give him such a prime role. but president obama needs bill clinton. since leaving office, bill clinton is at pay level -- at the apex of popularity. the very people that obama administration has turned off with policies and are questioning whether they want to him for him or romney, they have no choice to turn to the person who is the most popular in the party with independents, to try to save him. >>eric: there is a lot of chatter up and down the northeast corridor that they are not that good of friends and they are not buddy buddy. i remember president obama saying about hillary clinton, the american people do in the trust her. we need to point out, to be fair and balance, all the soundbites of clinton, a lost them were walked back. here is the first one on taxes. >> they will probably put everything off until next year.

that is the best thing right now. i am sorry about what happened yesterday, i thought something had to be done on the fiscal cliff before the election. >>eric: and one more for you to listen to, bill clinton talking about romney's sterling business career. >> this is in question in terms of getting up and going to the office and performing the essential functions of the office, a man who has been governor and had a sterling business career, crosses the qualification threshhold. >> the fat i was complementing his suggestion as a business person doesn't mean i think he should be elected and president obama shouldn't. >>eric: why do you thing he walked back the comments? >>guest: he cannot be out there so directly undermining the president's campaign. he has to look like he is trying his best and maybe at the end of the day he wants obama to be

re-elected but there is clearly undermining of the campaign with the sterile business career is killer. like president obama's number one message the last several months, and they will take president obama's word and run them over and over again, the romney campaign is, as a rebuttal to president obama's entire message. it is fairly clear that there are subtle jabs that president obama and not so subtle jabs. >>eric: we will leave it there, thank you, sir. >> with america's economy heading south, is it time to take a cue from our neighbors to the north? the guy who represents the interests [ male announcer ] how do you trade?

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we can do the same thing canada did base we had a huge cash cow and it is to use it in an environmentally way to pay the government. pay taxes. hire people. i am hopeful the discussion will be the canadians did it so we sir, there is a lot being made of the keystone xl pipeline and you produce a lot of oil and would use a lot oil in america. that pipeline would ship a lost your oil down to our refineries that we need in texas, in houston. talk to us about keystone xl pipeline. do you look at america as a place that we can do business with, a free flowing business handshake or is it bound by regulation? >>guest: it is a place where we should do business with each other. we are each other's customers.

canada is the best custom of 38 of 50 states. and as the prime minister said you look at keystone xl pipeline it is a no-brainer. it will create jobs at no public expense, and it will ensure greater energy independence. according to the state department study done it could place -- displace 40 percent of the foreign oil we are receiving from the middle east. >>eric: sir, one more question on that. china is interested in your oil as well. you would rather sell your oil to america than china, sir? >>guest: obviously our closest partner, our closest trading relationship is the up. it makes sense for us, we have a deeply integritied economy. our companies operate on both sides. much of the investment is in the oil sense in america and it makes sense for us to have the first relationship in the united states. the prime minister made it clear we will tell our oil to world

markets to those who want it. we hope there is an appear tide in the united states for it. >>eric: is that message sent to the likes of senator schumer who has been in favor of holding up the xl pipeline? >>guest: this is nothing but a political play for the election. you saw the other day the administration gave the authority to build the xl pipeline from oklahoma down to the gulf of mexico. as soon as we finish the election and as soon as we get past the worry about the environmental community, we will build this thing because if we don't we are going to face a lot of problems we don't need and put aside extraordinary relationships we need to nurture. there is nobody closer to us than the canadians. we just have to get on with it. we understand these are political times. >>eric: thank you, gentleman.

gentleman, it is fantastic see youing work together. we would love to have you later on in the week and see what has progressed. thank you. >> my next guest is hoping to listened a job in the united states senate. when presidents close in texas tomorrow, he will know if he is a step closer. he is the tea party backed candidate running to replace senator hutchison who is retiring. and this guy is up by ten points in the latest poll and joins us, now. we reached out to his opponent, lot lieutenant governor in texas and we low pressure to get him on the show tomorrow or later in the week. sir, let's talk about this, this has been a lot of money spent on your opponent's campaign. the media dismissed you and you are up by ten percent. how are you doing that? >>guest: it has been an

extraordinary campaign. the momentum we are seeing on the ground is phenomenal. the reason is simple: conservatives have united behind this campaign. republicans women, tea party activists, grass roots leaders have come together. this race has been called ground zero in the national battle between the moderate establishment desperately clinging to power and the conservative tidal wave sweeping the country. >>eric: this show is about business. companies are not hiring and buying their stock back. we talked to a medical device maker who says obamacare is forces him not to expand and we talked to two people from the chamber of commerce here in the united states and in canada. what is with the business climate here? if you are a senator, ted cruz, what would you do to change it? >>guest: well, unfortunately for the past throw years, president obama has waged a war on jobs, and a war on small

businesses. right now the federal government is like a boot on the back of the neck of small business. we need leaders in washington, dc, who will stand up and stop the obama war on jobs. i'm running on a 12-point jobs and growth plan. >>eric: give me the first, give me the two biggest ones. >>guest: repeal obamacare. revoke the offshore drilling moratorium. stop the abuse of enforcement of environmental laws. slash the corporate tax rate. stop the assault on right-to-work states. repeal dodd-frank, allow small and medium companies to opt out of the sarbanes. we have to pass a strong balanced budget amendment to get our debt under control. , thank you, ted cruz, we will check with the polls tomorrow and know who will take the republican nomination.

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that will be here for you now -- and down the road. i have a lifetime of experience. so i know how important that is. >>eric: we have new information how the solyndra bankruptcy will work out for taxpayers. diane macedo has the latest. >>diane: we got court documents filed on friday showing private equity firms that invested will get back half of their investment but not so much for the taxpayers because in this case the government actually gave up their spot as the first investor paid to two private equity firms. the court pains show of $143 billion the government loaned to the company they will recover zero to $24 million. of the second payment, $382 million, it will recover zero plus, depend on outcome of liquidation. you can imagine because of the

number of solar companies that have gone under, particularly those with government funds behind them, the market is not so great for liquidating the companies so the outcome does not look good. >>eric: zero, plus. >>diane: so $24 million of half a billion. >>eric: mitt romney rallies for support there and these two hitting the trail if him here. senator problem portman in pennsylvania and senator pawlenty both considered top v.p. picks. and now to larry sabato on the veep short list. larry, welcome. second, you have a -- five, is that right? >> you have the top two right there, tim pawlenty and rob portman. and governor jindal, and senator rubio of florida and wounding

out the top five, congressman paul ryan from wisconsin. any of those five would do a lot of good. >>eric: a lot of people say, with about chris christie? >> he should run for president and will eventally. i don't think he is vice presidential material. i don't thin you would think so. he would be on the front page more than romney. i don't think you want that in a vice president candidate. >>eric: what is the most, governor romney is looking right now and going through the list. what is the one thing he needs most? >>guest: no controversy. no problems. the vetting that the press will do and the opposition democrats will do, should in the turn up anything that will take this election off the track of the economy because the bad economy is the winning track for mitt romney.

>>eric: larry, i am looking at your bullet points on the potential candidates on the portman and pawlenty, you have safe, and vanilla. is that more important than a rubio where you say a valuable swing state senator, you could nail down a state if you pick this guy. >>guest: you could make that argument for portman. he would add a couple of points at ohio and the critical state for republicans. no republican has ever been elected without ohio. >>eric: and rubio's hispanic background. people say romney cannot win unless he does better with latinos. is this a reason to pick rubio? >>guest: absolutely. that is why we have rubio on the list other than florida and the fact he excites the republican base, that is the great plus for rubio. the minus is, he is a relatively new figure on the national scene and you know what that means.

earthquake i remember a new figure four years ago, and that was president obama. >>guest: well president obama or sarah palin. you will get, well, in obama's case you didn't get that, but in same's case you did, and believe me, for this v.p. candidate for marco rubio you would get that. >>eric: thank you. the olympic flame is lit but what happened to london being so fired up. could it be that mitt romney was right? >> are we ready? are we ready? yes, we are ready. but that doesn't mean we should be penalized for it. that's why liberty mutual insurance policies come standard with accident forgiveness, if you qualify. learn more at libertymutual.com. four course seafood feast choose your soup salad entrée pls dessert! all just $14.99. come into red lobster and sea food differentl

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>>eric: notice the empty seats at lick picks. organizers did and now reports are they are giving people tickets for free.

monica is asking what the (bleep) just happened, the title of her new hit book. >>guest: people who bought tickets and secured tickets and ready to go to see the events, they are saying what the (bleep) just happened? >>eric: they bought tickets and some were shut out, and now the arenas are em. what the (bleep) did happen? >>guest: so governor romney was right when he raised an honest question whether the london venue and the london organizers were ready not events and everyone jumped all over him and, perhaps, it wasn't the most artful way of posing the question but new we can see that you've gone hundreds if in the things of empty seats at critical venues and events. they are bringing in military members, they are bringing in children to fill the seats. there are some, there was some of this in the beijing olympics but the chinese communists got their act together pretty fast and got it all straightened out and got the people in their seats. we still have in the seen that

happen if london. >>eric: romney took a lot of heat. >>guest: i understand the criticism you are abroad and do you in the want to insult your host but he was raising an honest issue here about, look, you are trying to run a major international event in a major international city, with a last security concerns and based on the reports he was hearing, he thought that perhaps the reports were "disconcerting." now we can see he was right to raise the question and the content of criticism was correct. >>eric: is lot is made of romney's time with the salt lake olympics. how did he do? >>guest: a fantastic job. we hear about the mess he inherited and in romney's case he inherited a heck of a mess when he came in to save the salt lake city olympics. the place was a disaster with no organization, and they ran a huge deficit and he came in at

the last minute, turned the entire thing around. romney is a turn around art it. he has done it in business at bain cap gal with numerous companies. he did it with the beijing and we can be proud and not have the kind of crisis we are reporting on now, here in london. >>eric: so they should have taken his advice in a nice way? >>guest: rare than saying, well, of course we are prepared they should have said we. >> the to take it under advisement. we are doing what we can to be off and running, but we take the criticism to one who has been there. rather than jumping all over him and he has been proven right. >>eric: monica crowley, what the (bleep) just happened. what happens when the games are over and the venues are empty? and now to london. >>guest: london's legacy

corporation says six of the eight venues have been sorted out. in a five double dip recession, no one wants a lot white elephants laying around, so a lot of thought was put into the future of the venues from the very beginning. here is the scoop. >> london's olympic sites have cost more than $1.5 billion to build from the sleek center designed by world renown architect to the iconic tower. >> which do i like best? that is a choice between a tiger's cubs. they are all beautiful and distinguished buildings. >> lot of thought went into what to do with the new sporting structures on the day after but now people are wondering, what will the olympic legacy be like. london was the first to create a legacy corps which claims to

have found viable post-game use for most of the structures. they include community function, affordable housing, and possible take over by the private sector. the images like this including beijing's bird's nest which cost $480 million to build and now is something of an empty nest or the grand stadium in athens which cost $100 million a year to maintain but is overrun by weeds that got britain working on an after life plan right away. the city has said the greatest olympic plan, however, is regenerating a neighborhood that was down at the heels. >> this is about the fabric of the city, so they not just sitting here by themselves. housing will be put in. park lands are put had and they are parts of the puzzle. >> hundreds have been displaced and despite promises of new affordable housing some residents fear they will be priced out of the new area. >> this is not aimed at local people but about the takeover of

assets by government and corporations who make profits and a new population who will come in to live in this area. >>guest: so, if you build it, they will come but for how long and at what cost, it will take and years to find out if london's post 2012 game plan also turned out to be a winner. earthquake thank you, enjoy the olympic experience. >> coming up, on fox business network at 8:00 eastern, why, where and when the new obama ad could be running, a sign that the economy is running for recover. ♪ you want to save money on car insurance?

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>> eric: hello, everybody. i'm eric bolling with kimberly guilfoyle, bob beckel, dana perino and greg gutfeld. it's 5:00 in new york city. this is "the five." ♪ ♪ >> eric: surprise, surprise! a couple of shockers. the obama camp this weekend. first, campaign manager david axelrod surprisingly on the e-mail admitting, "it's amazing we're not getting blown away." then bill bubba clinton was tapped to deliver a marquee speech at the democratic national convention in september. what is going on here in the obama-clinton feud has been ongoing and well-known for years. remember when president clinton said romney would make a fine president? you don't? >> there is no question that in terms of getting up and going to the office, you know, basically performing the essential functions of the office, a man who has been governor and has sterling business career crosses the

qualification threshold. >> eric: and when obama had the agenda to tax millionaires and billionaires, clinton said president obama would be nuts to do that. i'm paraphrasing, obviously. >> i think what it means is they will have to extend -- they will probably put everything off until early next year. that is probably the best thing to do right now. >> eric: he said these things and then walks them back. >> greg: this is refreshing that they are tapping bill and not the reverse. that is a change in direction. we all know why they are doing this. this is designed to keep bill clinton from sleeping with the delegates. if you have a podium between him and vulnerable women they are safe. also, the fact is spitzberge elt spitzer was busy buying sox. bob is speaking at a massage convention. clinton was the fourth choice. >> eric: mr. beckel, good choice, bad choice?