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tv   Varney Company  FOX Business  January 27, 2015 11:00am-1:01pm EST

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maria: welcome back. the dow jones industrial average at lowe's right now. thanks for joining us on opening well. it is time for varney and company. stuart, have a great show. stuart: stocks weighed down. gas up. what is up with that? the big guys are not breaking in the money. investors clearly do not like it. gas prices have stopped falling. regular actually went up overnight. the blizzard, big impact on the northeast. the snow has not stopped. varney and company is about to
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begin. new york city got off light. ♪ >> at this moment, though growing the economy shrinking deficits, bustling industry, booming energy production, freedom to write our own future. stuart: it sounds good. do you like that graphic there? we have a weakening economy now. some of the big-name stocks that you know reporting lower profits. not good news. we have a selloff. look at the names. caterpillar down big time. the biggest drop for that stock in four years.
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that stocks biggest drop in a year and a half. combine those two. move on down the list. united technologies. dupont. they are all down. dragging the dow industrials. the technology sector are. the worst performing their own fault. locate the big names. apple. google. amazon. twitter. all of them down. cheryl casone is here this wednesday morning. what does it tell me about the economy? or perhaps there is more going on. that is what i think actually hurt the market.
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down 3.4%. even if things bolstered are both good orders, taking all of that away. you are seeing manufacturing slowdown. i cannot make a lot of sense of this. single-family home sales. volume went up even as prices were slowing down. >> the economy is beginning to slow. retail sales were down in
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december. >> it is accurate. i wanted to throw in a couple of data points. >> you have 5% growth in the third quarter of last year. we get the numbers first name friday morning. that is a less of a growth rate. >> a little disappointment on the report last night. sorry. i know. i apologize this morning. microsoft -- we will see you soon. stuart: down 9%. i do on microsoft in case you are a new viewer and you do not know that.
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the streak is over. gas prices went up overnight. just a half cent. $2.03 is your national average for regular. the collapsing gas prices. it was fun while it lasted. prices dropped. savings of $1.31 per gallon. that is a lot back in your wallet. a screeching halt. look at what you. cheryl: i think that this is temporary. stuart: i will not suggest that we bounce back up for gas. put oil back up again. 44.81 earlier.
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who is saying that? let's check. >> as long as you see that opec is not willing to see this. talking a little bit about the main idea of trying to disrupt u.s. production here in the united states. it will take a little bit of time. we have seen production growth over the past couple of weeks. primarily brought on by the previous. it will take time until we see the cutback in drilling here. i think saudi arabia will wait until at least june.
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determining whether or not they will cut production and prices. stuart: are you telling me -- what is your judgment? you make money in the oil market. >> i think that we will continue to see volatility. stuart: all right. before you go, i want you to listen to this. roll the tape. >> you said that the price of gas could double. back up to $4 a gallon by the end of the year. >> production growth stops and decline rates set in. it will not take long to chew of that surplus. then we go back into oils
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shortage. >> okay. by the end of the year, it will be $4 a gallon. you say -- >> i say no. they will not want the oil prices to be implied by that comment. stuart: okay. take you for joining us from san diego. we have a blizzard here. [laughter] stuart: the mayor of verse four, connecticut. he thanked nbc news host how sharpton. >> thank you. you have been fighting the good fight on climate change. we can see crazy climate here.
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we would like to have more acute down in washington. stuart: even al sharpton looked a little surprised. cofounder and fox news contributor david webb is here. >> about an inch of stone later today. that is the prediction. "imus in the morning" 25th team. we have multiple sides arguing and argument. you have an experiment. you were able to re-create it. this will be a debate forever. it is just a ploy. stuart: what about sharpton? >> he rubs away from the debate
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he is supposed to be an expert on. stuart: you were booked at the oxford union, oxford university he was supposed to debate you on whatever issue. >> he finally found a way to speak to a small group while we were having dinner. >> he is the real power on race which we are going to discuss. stuart: gunmen have stormed a luxury hotel in trip -- tripoli libya. this looks like a conflict between rival standards. the army has reported birdsall
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with distortion. david webb. there is a terror outrage. >> we are no longer even releasing them for detention. we are just releasing them in to the wild. here is something that we need to pay attention to. the policy of just releasing terrorist. in order to leave that outpost he had to evade avoid he was also seen crawling through the
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bushes by a local he deserted. they knew this up front. lives were lost. when the army knew this and the administration knew this, they played it to some political narrative. stuart: the president is stopped. he and praised his parents. now he is charged with desertion did people died looking for him. >> they could have gotten the reports from the army and read them. stuart: the northeast. still dealing with the snow. new york city pretty much spared.
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tens of thousands of people are snowed in. what are they up to? what you do when you are snowed in? q the romantic use it? [laughter] ♪ per ad is read hundred 53
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points. look at the whole play. twenty-nine of them read. one of them, pfizer, up. that is it. related to venezuela. investors do not like it. corning.
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use by apple and samsung. the stock hit a high earlier on a down day. the storm hit the northeast. come on in peter barnes. i want to know if i want to fly to the northeast or out of the northeast today, what are my chances? >> parts of canada, stuart? toronto. montréal. a lot of flights canceled. every flight to new york, philadelphia boston, all canceled here at reagan and washington d.c. 93% of the flights going in has been canceled.
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philadelphia 78%. so far nationally, about eight dozen flights have been canceled. a lot of the airlines doing this pro- act is late to make sure they have crews in place when the storm clears. >> make you very much indeed. >> big snowstorm keeping tens of thousands of people indoors. i think that it is obvious. can we expect baby boomers at the beginning of october? [laughter] >> who is here. doctor marc siegel. historic evidence that it happens.
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>> yes. those manufacturers -- i do not actually think that it will happen now. super storm sandy there is some evidence that there was a baby boom after that. i think it was due to plaque outs. stuart: oh, stop it. [laughter] >> i do not think it is a big enough storm to cause a baby boom nine months from now. >> i welcome back in nine months. up they are in new england maybe. stuart: next question. what about marital rates. what does a big snowstorm due for marriages?
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>> no physical disaster. it was less divorce. more marriages after 9/11 as a result of people wanting to bond together. there was more divorce. it depends on the type of disaster. the bonding experience, we all went home to our wives, it is snowing out there. pull up the blankets. watch a movie. stuart: did you know that the delivery rate of alcohol was up 500% on monday? with that fuel a baby boom? >> yes absolutely. stuart: are you implying that alcohol induces sex?
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>> it is an enabler. yes. alcohol is an enabler. i will be reporting on blustering for you nine months from now. stuart: i bet you are. time is money. how about big brother. the justice department has been building a national database to track cars. they track license plate using cameras on highways. it stores the data for 90 days. to california. new regulations on the size of chicken hoops. chickens need to their coupes so they can use their wings. an update on these late game. a patriot locker room attendant took the balls into a separate
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room from the old officials after the old officials check them out. >> they said we have video and electronic footage that we are studying right now. stuart: the producers are saying move on. we have had enough. >> no way. >> the running backs are the ones that benefit. the quarterbacks are not the ones that necessarily notice the difference. stuart: whatever you say talk. walmart always under attack from the left. blaming walmart for the obesity epidemic. we will have a full update after the break. ♪
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you total your brand new car. nobody's hurt,but there will still be pain. it comes when your insurance company says they'll only pay three-quarters of what it takes to replace it. what are you supposed to do, drive three-quarters of a car? now if you had a liberty mutual new car replacement, you'd get your whole car back. i guess they don't want you driving around on three wheels. smart. new car replacement is just one of the features that come standard with a base liberty mutual policy. and for drivers with accident forgivness,rates won't go up due to your first accident. learn more by calling switch to liberty mutual and
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you can save up to $423. for a free quote today,call liberty mutual insurance at see car insurance in a whole new light. liberty mutual insurance. stuart: melissa rivers filed a malpractice lawsuit against doctors and the clinic where her mother, joan rivers up the middle column urgency that led to a death. her mother was treated here is the quote. the level of medical mismanagement, incompetence, disrespect and outrageous behavior is shocking and almost incomprehensible. one complaint filed in that suit alleges someone took a selfy with joan rivers while she was
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unconscious on the operating table. more tech names to show you. intel hewlett-packard, micron, cisco, all among the biggest losers in the s&p 500. the tech sector is the biggest loser today down roughly 3% the biggest drop that group in almost three years, the dow is down 372 points. this is a sell-off, 2% down. walmart the company is catching heat from a study done by a group of universities on the equations between the rise of walmart and the rise of obesity. and greater availability of these boards reduces travel time to obtain food presumably increasing wage. cheryl casone is here. i don't get this. i don't get the conclusion here.
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these boards park close to you so you can get there easily, drive through it, buy junk food and that is why walmart is responsible for obesity. >> it is easier to get our hands on bad food. bulk food is more popular especially at walmart and sam's club which is what these professors linked obesity rates rising in the united states to. here is there data. the b.c. region 1960 was 13%. 2012 it was 35%. the first wal-mart, this is from their paper, 1962, the first wal-mart opened in the united states of america. they say there's a direct correlation between the supersizing of walmart released the supersizing of our waistline of leading to higher blood pressure, diabetes and things like that. stuart: i shop at walmart. i like their prices and i can buy fresh fruits and vegetables that a low-price in walmart. i was not aware they could make
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out. cheryl: professors say the same thing. why not buy fresh fruit in baltimore fresh food, healthy food instead of buying a bad food? is it walmart? i can not resist the gigantic bag of oreos. stuart: is not walmart's fault. they present a choice to consumers. consumers have the choice, you want fresh fruits and vegetables, you want oreos, it is personal individual responsibility, isn't it? cheryl: they point out walmart is partly to blame. targets of the world as well because they are following the same categories. stuart: they don't like wal-mart. cheryl: five pound bags of popcorn, you don't have to eat the entire bag of popcorn at once. that would be my personal take on the story but i guarantee
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that of apples and strawberries. stuart: obamacare spiraling out of control. he will be out of office when the damage hits. we give you all the details in a moment but don't tell this to nancy pelosi. >> affordable, affordable, affordable, affordable. the reason they change the name was they want to get away. push your enterprise and you can move the world. ♪ ♪ but to get from the old way to the new you'll need the right it infrastructure. from a partner who knows how to make your enterprise more agile, borderless and secure. hp helps business move on all the possibilities of today. and stay ready for everything that is still to come.
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call now. stuart: it is still a sell-off there is a recovery road block. we are still down nearly 2% down 3.6. big names caterpillar is down 7%, microsoft 9%, two dow stocks combined together, 60 points down for the dallas and united technologies, dupont, procter and gamble all shaving lot of ground up. down in percentage terms. will sitting around $45 a barrel, oil and gas finding a bottom together. $45 for oil, $2 for gasoline. remember this. gas prices fell 527 days down last night. they went up by a half cent.
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still a 203 but last night they went up. the streak is over. blanketing the northeast keeping people off the road. new york city boston, a philly account for 12% of the economy. what a lasting economic effects of the big storm? cheryl casone has some numbers for us. cheryl: if we look at history we can also look at the economic output of this region we are talking about that for the most part is broken snow. if you would get new york city, philadelphia, boston, the sales output is the billion dollars, economic activity is the billion dollars, two days lost $16 billion. stuart: that is a decent number but you don't know how much of that money will ultimately spend when the stores are open and people driving. cheryl: typically especially in kind of average storms the economic activity is made up but if you have a major storm, think
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of sandy. i want to point out if you look at the northeast, if you look at the end of 2013, beginning of 2014 we had major hits to gdp. this part of the country, true engines of the u.s. economy because of the population. stuart: that was a whole winter winter of 2013 into early 14 was a terrible winter. it really was disruptive and that brought gdp down. cheryl: loss 1.5%. stuart: this time you are talking about one storm that had a severe impact for just two days. do you think it will have a big impact on gdp? cheryl: no i.t. do not but i will tell you as of last night the question was would it and more storms is the next question. my friend says it is impossible to predict. so far we have gotten off treaty easy in the northeast especially compared to last year. stuart: i don't see a big impact
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on gdp from this storm. cheryl: you have to beg the question if you are looking at a market you want to be ahead of the game. you want to know what is coming but the airlines won't come up fairly unscathed out of all this. airlines are very smart and all the cancellations yesterday, the equipment positioned today to get back into the sky. stuart: all the tickets they sold they got the money. now this. according to the congressional budget office the government's being counter, taxpayers $50,000 a head for every person who gets health insurance under obamacare. that is just for starters. the cbo also reports that medicaid spending will double what it was when president obama took office. will double in the few years time thanks in part to obamacare. washington examiner senior congressional correspondent david drucker is with us. i was told by the president, he told the whole country that
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obamacare would never at a dime to the deficit and it would bend the cost curve down. that is not accurate, is it? >> i don't know if we have never seen a government program this size and scope it did any of those things even medicare, medicaid, the original medicare and programs that most americans support republican, democrat, conservative, liberal, those cost lot more than they were envisioned when they were passed in the 60s and i don't see why obamacare is any different if it does its job which is cover a lot more people with government subsidies and eventually where that money is going, where the cost is going to shift our state budgets to overtime ongoing to take up more of the cost. it stuart: is accurate to say that the cost of obamacare is much higher than it was projected and even with all these added costs and all this extra spending of
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money, an end of it we will still have 30 million people uninsured. is that accurate? >> i don't know if we will have that many people still unsure. the affordable care act made to a stop bringing out and in short rates the the only way they were able to sell this to a broad cross-section of the country that already had held insurance was to say we're going to lower your costs, bring down what you are paying for health care. you can't do that if you are expanding health care to everybody and guaranteeing everybody that they will have covered almost no matter what. those are good things but i think everybody who understood the law always knew it was going to cost taxpayers more money than they were already paying the government and i think that is being borne out. stuart: this puts democrats in the senate in a difficult position because there are going to be bills calling for the reform of obamacare. are those democrats going to stick with obama care even as costs go up in the political price very high. democrats going to stick with the president on this?
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or will they go with the republicans and say you are right, we will cut the cost? we are with you? >> they are sticking with the democrats, something -- all those red state democrat never backed away from the affordable care act. no reason all the democrats in 2016, most in swing states or democratic means states. they will stick with the party they believe in and politics for them in a presidential election that is allen appeared at this point. stuart: we shall see, thank you for joining us. not a bad story. snowplows running all night clearing the streets. want to know when your street will be clear? turns out there is an apps for that.
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it is a new low with the strong u.s. dollar. also the commodity prices, oil prices, as of the outlook for caterpillar, down 1.7%. microsoft down 10%. technology is very weak, facebook, yahoo! jeff: apple, report "after the bell," twitter down 3%, facebook down 2% of yahoo! down 2.5% we are waiting on that one. american airlines fuel prices lead to better than expected results. for some every dollar is earned with sweat, sacrifice, courage. which is why usaa is honored to help our members with everything from investing for retirement to saving for college. our commitment to current and former military members and their families is without equal. start investing with as little as fifty dollars. they challenge us. they take us to worlds full of heroes and titans.
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stuart: >> they have low quality displays and they run plenty of pc software. they are not better than a laptop that anything. they are just cheaper, cheap laptops. we don't think that is a good device but we think we have got something that is. and we like to show it to you today for the first time and we call it the ipad. stuart: how time flies. five years ago apple at steve jobs unveiled the iphone in san francisco. you didn't even know you needed one. apple at stock not far from the all-time high, $119 a share. the big apple bull will be on the show at 12:30.
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look at this photo from long island, at the last night's winter storm, look what is sent from their window, looks kind of pretty up there. i could doolittle like that. and canned goods and water preparing for the blizzard which is a smart phone, that is one of the best tools you get when emergencies hit. as told to wes, here with some blizzard apps. we are going to feature dark sky. she said that is the only air when i ever paid for. what is dark sky? >> this is like a lot of weather forecasting apps, incredibly accurate. hyperlocal forecast meaning it knows what is going to happen in that postage stamp of where you
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are. this is it that i pull up on the ipad. a second ago, flurries stopping in 11 minutes and they stopped 11 minutes, don't know how they do it. stuart: it is very short term. >> it is short-term but has incredible matching so it will warn you on your phone that it is about to snow or sleet or green and it will tell you in 42 minutes or 2-1/2 minutes. you can't help yourself but go to the window waiting for it to happen. it is pretty accurate. stuart: it is 399. cheryl: that is expensive for and apps. >> $4 for and apps is the nominal fee. is that incredibly will spend the amount of money. another really cool stuff we have seen happen in the storm we
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are learning from technologywise is where we are in power in terms of ourselves at home. we are stuck there. what can we use this for? cities around the country really have knocked the ball out of the park on this one. pittsburgh winnings this one, an interactive map. each of those dots are aware that their snowplows are currently this very second working the streets so you can zero 9 your neighborhood and find out the blue dots on multiple snowplows and get to where they're salting as well. stuart: if i am living in pittsburgh i have house in pittsburgh, has my street and been plow or when will it be plow -- >> coming down the street is just on their web site so you tune in weather on you're smart phone, computer or using it tablet use him into the web site. stuart: is not an apps. it is a website. what is the name of the web
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site? >> the city of pittsburgh has a crazy name the city of new york did a pretty good job with this. it didn't work so great in years past. it was launched in 2012 it works great now. this one will also showed now where they are the second, where they have been so we can look at the city and we are seeing a key here that says this was recently plowed within an hour-and-a-half or two hours. this is what was done over two hours ago and this gives you a good idea all around the five different boroughs of new york. stuart: is it accurate? >> it was not in the past but so far it is doing well to pass the test. stuart: i will get steam define come out of my house and they say it is plowed and is not loud. >> the old mayor was in this morning. was interesting as he said i don't know that i would agree with this current mayor's idea to take all the cars off the road. why is that? he said because the delivery
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vehicles, the cars moving around are half the battle of getting rid of the snow on the surface. cheryl: we were both talking to him. do you agree with the subway being set down? new yorkers were afraid of that. the business of new york city were hurt today, it was a mistake. >> i agree with that. did you see this one? plows an apps around the country in major cities we know of a car service, cars on the mend called uber, getting your front yard or sidewalk lot can't demand so you simply download the apps and they come to your house and they will tell you, you put in the category they are looking for. when they have done it they will shoot a picture and send it to you so you can see a picture of recently plowed property in multiple cities around the
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country. stuart: in our next hour we have the maker of the air when the guy who runs that, he will be on the show at 12:15. good timing on the promo. is it free. up next, at kia, the korean car company out with its new super bowl ad gobbling down on celebrity again. what work this time? >> picture this. we (you driving a beautiful on a snowy mountain road. 30. look up in the tree and you see an al. come around the bend and there's a rock in your way. a moose.
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stuart: remembers this key at ad from last year at super bowl featuring laurence fishburne as his character from the matrix? kia is back this year with pierce brosnan. we have a clip, rolled a. >> we open on you driving in a beautiful car on a snowy mountain road going 200,000 miles an hour. 30. look up at the tree in you see
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and al. come around a bend and there's a rock in your way. the moose. stuart: joining us, and tim chaney with kia. you are using pierce broaden this year and he is advertising a popular brand or model i should say. last year you use lawrence fishburne to advertise a luxury brand, luxury model. what happened last year? did it not work? >> good morning. thank you for the time today. actually it did work. introduction of the first-ever luxury sedan, k 900 was embraced by automotive media very strongly and consumers alike and it was about listing our brand image and signifying the direction kia and in the future is going to come out with. stuart: diss your pierce brosnan
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advertising a more broadbased popular model, correct? >> correct, one of our best sellers, the all new 2016 sorrento is launching right now and it is a bigger, more refined and capable suvs and we introduced ever before in a growing segment of america so we are excited to be able to promote its on super bowl and gain instant awareness. stuart: why pierce brosnan may i ask? >> we felt he was a perfect fit for the personality because he is sophisticated and refined but yet he is known for action-adventure so that is what is all about. stuart: thanks for joining us. i have got to run. almost out of satellite time. it is pierce brosnan. thanks very much. big market sell-off. there is an bigger market sell-off. not much of an economic recovery, not the one the president was talking about. and janice dean and a blizzard,
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people were mad at forecasters for getting it wrong in new york city. she is not apologizing. hour 2 is two minutes away. opportunities aren't always obvious. sometimes they just drop in. cme group can help you navigate risks and capture opportunities.
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stuart: bad news on the economy. the president's the of the union speech with its recovery message is starting to ring a little hollow in so many areas. mr obama's statements don't match the reality. all too frequently a few inconvenient truce just pop up. remembers this 22 obamacare won't divot on to the deficit? go to bend the cost curve down. yesterday the government's alan bean counter showed it would cost $50,000 for each obamacare enrollee, not 30,000 as originally forecast and the deficit starts going up again the very mr. obama leaves office. today comes news about big-ticket items that went down
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a lot. home prices tacked just a tiny bit lower and late last year retail sales actually fell during holidays, not quite the recovery the president talked about. this is the president who refuses to give an inch. no retreat at all raise taxes spend more, regulate everything and ignore the debt. in a moment you will see what this is doing to your money. is not good and later developments on the terror front not good either. stuart: roadblock to recovery. profits down. stocks really down. the dow is up 2% but the economy stalling, maybe it is. the dow down 17-3. disappointing profits of caterpillar, strong dollar hitting the bottom line. they get 70% of their business overseas.
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at stock has not been down that much in four years. microsoft's bread-and-butter selling windows and office to big business. that is not showing signs of weakness, shares taking a big hit, the biggest drop in the year and a half i own microsoft stock. united technologies also getting hit by the strong dollar cut its outlook for the year as investors don't like that, it is up $1.70. come in scott, do we have a profit alert across the board and is that a sign of the weak economy? >> i don't know if we have a profit other across-the-board, but we have signed a weakening economy. i don't know how the third things they will raise rates this summer especially when we have all these companies like caterpillar and microsoft complaining about a strong dollar because that will be emboldened the dollar more against other policies around the world who are doing worse than we are and i don't think the fact we are doing any better anyway, look at the figures you pointed out, a record number of
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people giving up on work and out of work, even in the state of michigan we have more people on food stamps and we have in grades k-12 so you show me the night in shining armor mr. gross coming around a corner and delegate more comfortable about owning stocks. the 21 on friday this week a couple days away we get a first look at the economy's performance in the last part of last year, we were up 5% in the third quarter, what is your estimate for growth in the fourth quarter? >> something between 2.5 and 3-1/4. that could be disappointing and the back of the fact diesel oil prices started coming up. what happened to retail sales? oil prices the last year it was not slowing through the economy. oil prices are coming up because we don't need as much, we are not making as much. it is about the economy. stuart: the economy is slowing and we're down 355 on the dow. thank you very much see you
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again soon. tim wallburg republican from michigan joins us from capitol hill. this recovery not going that well, is it? >> no isn't, as you listen to the president. at the state of the unit was as if i was in the land of oz. in my district which is a blue-collar hard-working manufacturing and agriculture in district, they are not fairing as well as the president spoke of. a lot of people dropped out of the marketplace as far as jobs. we have seen average family income in the president's watch go down $2,500. the middle-class is being absorbed into its ground and the president continues to want to do a top-down management of the economy as opposed to what has always worked and you know as well as i do, opportunity growing from the grassroots, people creating their own livelihood and opportunity because it is there for them to take. stuart: the justice department has been building a national
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database to track cars. and in the agency says it stores the data for 90 days and the license plate as you are driving along. you are on the libertarian wing of the republican party if you are not mistaken. how do you feel about government collecting this data and tracking it? >> it was last year. i co-sponsored a piece of legislation that would put limits on the time these type of information items could be kept because we are beginning to see more of this tracking for reasonable purposes but ultimately used in all sorts of nefarious ways. this isn't the style of america. we are people who love liberty, we take the responsibility along with accountability what goes on and that is why this congress has been doing aggressive oversight and we want transparency we want limited government.
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stuart: but the argument could be made in the age of terror with a possible nuclear terror threat some way down the road, closer control is what we need. what would you say to that argument? >> we need closer control but we need oversight transparency and it has to be those of us who are elected to protect the interests of our people we represent, we are not leaders in the sense of taking control, out the we are representatives and we should have the opportunity for that oversight. it is a fine line we walk between chaos and security but nonetheless we are always pushing back against the big government that becomes large enough to take away our freedoms and what are we fighting against terrorism for? they already control less. dave: i share your concerns about security but also share your concerns about the birdie.
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is unclear whether there's any court approving or but for overseeing this program of license plate reading. do you know of any court that is involved? if it is just executive action, that is snooping in a way that concerns libertarians. >> i don't know of any court at this time that is doing that. as this news comes out it gives us an opportunity to say again why should it come out of the news without the opportunity for a legislative body or a court to know about it before it takes place as opposed after it takes place? your concerns are my concerns. stuart: thanks for joining us. we appreciate it. manhattan, new york city dodged the blizzard bullet, the rest of the northeast is getting snow. long island, three feet long island, more from janice dean in a few minutes on this one.
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some obamacare sticker shock. will cost $50,000 a head for every person who gets health insurance under obamacare. that is from the government's own bean counters. that is the government's own people. the cbo also reports medicaid spending will double what it was when president obama took office thanks in part to obamacare. david asman. dave: the cbo not taking sides in this debate. the revised their estimates of the cost of obamacare, the provisions of the obamacare act establish new programs they were unprepared to estimate. and they spawned more programs
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and new penalties involved, once they factor all these things, that is the cost per person of all the government's inclusions in various health care programs because of obamacare, $2 trillion is how much the insurance subsidies will cost over a ten year period and that involves $643 billion in brand new taxes. much greater than the original estimates because we didn't know what was in the program until we passed it and now the we passed it, this is an albatross that is around a legacy of president obama's presidency just like iraq was for george bush, obamacare is an albatross that will live with the obama presidency throughout history. stuart: it is around the neck of america's middle-class. these other people strivers of this world. >> what is president going to do? doubling up on those. in the state of the union
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address, he is taking away 529, the tax benefits of the 529 saving programs for the middle-class, won't get through congress thank goodness but he claims to be defending the middle-class, the state of the union his was a middle-class economic program but how is it middle-class when it penalizes the middle-class? stuart: the middle-class is already shrinking, shucking obamacare it shrinks some more. the dow industrials are down 350 points. the economy is slowing. america middle america knows you got to pay for this. dave: another factor is what is happening overseas. europe is doing the same thing we did printing more money to get the economy, a lot of people are doubting whether that will happen. the slowdown is beginning to affect us and the more the fed gets involved now the more problems it could create.
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we would reach just about the limit of the amount of help the federal reserve or any central bank will do. stuart: it is a mess. it is a mess. you will stay for the hour. dave: i am indeed. i came in here with my big boots for something. stuart: ladies and gentlemen put them back out. get a shot of this. he told us earlier that he bought those boots 40 years ago. dave: i was in high school. stuart: can you remember how much? dave: was over a hundred dollars which back that was a lot of money for a pair of boots. stuart: $100? dave: you save money any way. you are tight you could appreciate the fact i held onto these boots, they are still perfect. stuart: 140 years ago. what about this. here is the lineup for the rest of this hour. new developments in the fleetgate turns out the patriots's balls went missing for a brief period after they
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officially inspected them. the red flag on the apps? yellow flag? california the state of regulation. new rules for chicken farmers. the chickens need more space, could cost. two feet of snow in boston and long island, bloated conditions shutdown overnight. janice dean's report responds next.
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...sexiest ...baddest ...safest, ...tightest, ...quickest... ...harshest... ...or nothing. at mercedes-benz, we do things one way or we don't do them at all. introducing the all-new c-class. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. stuart: still a sell-off, we are down 357 right now all. profits down, big names that you know, this is a road block to recovery. kick is the worst performing sector, biggest drop in net
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group in three years. google, yahoo! amazon, twitter lifting its travel ban, that will begin the travel ban ends at 2:00 p.m. eastern, subways are already running in new york city. this blizzard is not over yet, still moving up the east coast and clobbering boston as of right now. plane that stack that the airports across the country. we will show you planes in fort lauderdale, fla.. they can't make it to their destinations in the northeast. look at them go, dozens of them lined up waiting to go. fox news senior meteorologist janice dean is here. chief meteorologist at the national weather service apologize for getting the forecast wrong. you think that is legit an apology was required? >> the forecast was a huge bust for new york. a couple days ago we were forecasting not just myself, and everyone were on the same page 20 to 30 inches of snow for new
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york city. that was the forecast a couple days ago. philadelphia was in there as well, parts of new jersey getting epic snow fall. the storm shifted eastward by 50 miles. parts of new york, over 28 inches of snow. my husband this morning, i said n.y. city was scared and he said new york see? come on and shovel my driveway. i have over a foot and a half of snow in long island. we need to get forecast wrong. i am not here to give you a bad forecast. stuart: wait a second. it was only off in new york city. in massachusetts they're getting clobbered eds you correctly forecast. same story in connecticut, you got that right. new york city was little light on the snow. cheryl: with it doesn't happen in new york city hasn't happened
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at all! it was up to the local forecasters to put out a statement i don't blame them. i feel bad too. i am sorry for getting the forecast wrong but the folks like you said in massachusetts and new england are saying hello! hello! this forecast is right! i have epic snow in my driveway in the new york city, come on up and shovel me out. this is the teachand the moment if you will that again once again the forecast sometimes are not corrected yet to be accountable for your own actions for the safety of your own family. i can du the information but can't handhold and tell you what to do with that information. stuart: we think you are all right. we do. >> we did get close to three feet. is still going.
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we have storm warnings lower jet fighters and still in effect for millions of people and we will see this storm exit by this evening, overnight tonight and hopefully it will all be just a bad dream. seriously, people across portions of new england are without power. time for friends and family and neighbors to get together and help the ones that have been hit really hard by this blizzard which in some cases will go down in the record books. stuart: thanks very much. our next guest is busy during this storm. he runs an apps that helps you dial up a snowplow to clear your property. the apps is called plows and mos. willis mahoney is co-founder of the apps and he joins us with more. if i get the apps on my trusty little phone ion deposition to dial up a free-lance snowplow? >> it is very similar to uber. you enter a few questions get
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an exact price, and you are out of state. stuart: use it in the middle of this, link of the homeowner with the snow plow person and you take a piece out of that action. that is how it works. so tell me what is your piece? how much do you take? >> we take 30% of every transaction. keep in mind all of our providers are fully insured, the average provider has been in business 7 years a these are not fly by night companies comedies are reputable businesses. stuart: 30%? that is very nice. ecb is a pretty low because this is all internet based. >> not necessarily true. we spend a lot of marketing for these guys. we are telling them run your business, and do what you do best, plow, mo lawns and we are going to pay you in 24 hours,
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manage all the billing, we have 24-hour customer service center said these guys don't have to deal with complaints. they leave that up to us so they love our product and what we bring to the table. stuart: and you are praying for storms like this. are you not? >> the storms are great. this boston storm is a good one for our company. stuart: how much business have you done today in the boston area? >> we had a couple thousand orders in the past 24 hours. we are getting an order for every 15 seconds. the reception has been great there's a demand for our products. stuart: you take 30% out of the middle of it. when you going public? >> we have no intention of going public at the moment but right now our main focus is the company, 34 markets across the country. revenue to grow that. bernard: when you got to tell me
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your revenues this year. >> we are in the process of talking -- we don't want to disclose that. stuart: 5 million? >> less than 5 million. it is a strong number. stuart: surely is. we appreciate it. come and csn the summertime when you are mowing lawns. >> we would love to do that. stuart: after the break an update on the patriots. we are back to the deflateget it. those balls went missing after the inf official inspection. check out this video. a principal at a school in rhode island announcing a snow day by singing a parody of disney's frozen. ♪
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>> we have to keep the roads clean. this is the first time they ever closed the subway for a snowstorm. i think it is ridiculous. people got out too late to walk home. some of the various subway routes, they just close down the elect the city. people are going to be suing good because the mayor so favors the people who sue they have just been paying off left and right. stuart: if johnny gets hurt, you sue. >> i understand. that seems to make sense. there are a lot of people -- one of the great things about new york, the subways.
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the way you move efficiently. to close them down seems to be too much day daddy government. i have to admit, i did not think the subways would be back online as quickly. and lots of the cruise were at home. i have to give them credit for that. stuart: relax david beard you made it. taking the game ball to the bathroom. >> i have to admit i cannot stand the new england patriots. however, i think a lot of this pileup that is going on is just because of envy. they are such a good team. this guy is a magnificent football player. he is handsome.
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stuart: are you done? >> i am done. it will be interesting to see whether it cut into the money situation. stuart: it will not cut into advertising. a record home sale in miami. the question we are asking is, who is buying it? ♪
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stuart: 10 democrats putting the heat on president obama. they want sanctions on iran. the president does not.
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what is the state of play? >> there are 10 senate democrats right now. they say that they would not go for increased sanctions before march 24. they say we remain deeply skeptical that iran is deeply committed. basically, it would impose sanctions on iran if it fails to reach a comprehensive agreement. there are 54 republicans. you add these 10 democrats. it could get the sanctions bill to the president desk. stuart: it would be one more
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detail. one more in a long line. rich, think you very much, indeed. some of the big names reported lower profits. not a good sign for the economic recovery. every single one of the dow stocks in the red. price of oil, pretty stable. has it reached a bottom? some would say yes. some prices went up overnight. aaa says that regular gas has fallen for it each of the last 123 straight days. last night, gas went up. here is what an energy analyst told us last hour. roll that tape. >> i think that we will continue to see volatility. nobody makes money at these
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levels. stuart: there you heard it. we will stay on your money and bring in michael robinson. he is in san francisco. big names driving down the dow. microsoft. everybody knows that i own it. >> yes i would like it. you are absolutely correct. $42 a share. my disclosure said i do not own it. i really like what they are doing in the cloud. $5.5 billion run rate.
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there will be some bumpy periods. i like it that $42. stuart: would you buy caterpillar at this new lower price? >> absolutely not. i would not touch it. you have the strong dollar. they are just being buffeted. stuart: how about apple? they report after the bell today. $110 a share right out here and you repeat you will buy this share all the way up. >> by apple for the long-term. i really like it at $110. if they made projections, this is a strong company. iphone sales are ceiling market shares steadily from
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samsung. they cannot keep iphone sixes in stock. they would sell more if they could make more. stuart: we hear you. thank you very much. we are joined by real estate power team. i mean power team. they are called the jill's. the two jill's made a record breaking sales. most expensive property. $47 million. who bought it for $47 million? >> a russian buyer came here and saw the property and paid 47 know your dollars. stuart: is this pretty common?
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>> that record sale really helped elevate the entire market here. right now we probably have about 30% foreign buyers. many americans many of the hedge fund people are coming here from the northeast, california, and they are really helping to drive the market. stuart: i hear that the market for condominiums in california is strong at the moment. >> that is accurate. we have had record breaking prices.
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>> going from 3500 to 4500 a foot. those are numbers we never had before here on miami beach. stuart: how much was the total value of the real estate you sold last year? >> / year we close over 500 million. it was actually the second year that we did that. stuart: i am assuming you take about 3% of that. [laughter] >> sounds good to me. stuart: is that accurate? about 3% of the sales price. >> well, you know -- >> we definitely are not
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complaining. we are very happy. stuart: that was fun. california. no stranger to regulation. now they are going after chicken farmers. full story next. it's good. does it make the short list? you remembered that too. yea, i'm afraid so. knowing our clients personally is what we do. it's okay. this is what we've been planning for. thanks, bye. and with over 13,000 financial advisors we do it a lot. it's why edward jones is the big company that doesn't act that way. she inspires you. no question about that. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily
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down 304 points. we are seeing markets under pressure across the board. the s&p 500 down over a full percentage point. this is on economic news that we got across the board. we went through some of the microsoft numbers. the stock is off about 9%. a little bit weak on the forecast. caterpillar came out with a stock outlook for 2015. take a look at some earnings laggards. reporting after the bell, apple, yahoo!, at&t and electronic arts. more varney after the commercial. ♪
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stuart: lifting the travel ban for several counties. a travel ban for the mass pike is still in place. we woke plant our flag and california as a good reason. promising to raise the price of eggs.
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what happens if i produce eggs in nevada and sell them and california. do i have to give my chickens in nevada bigger, more space? >> that will probably violate the interstate commerce clause. i appreciate being with you today from sunny california where it is 69 degrees outside. i plan to go body surfing in malibu once i finish working for the day. stuart: very funny. >> california continues to regulate.
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this particular regulation of working-class americans. 66% in the state of california. because of national implications, the fact that we will not let eggs to be sold out of state of california, this chicken condo uhl the liberals want to get in the heads of the chickens and figure out that they need more room. there is no science saying that.
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the recent report said that a safeway and san francisco, one dozen eggs is $6. if you live in california, you are already paying a high cost of living. the average cost is five times the cost of what it is in the rest of the country. your gasoline tax is out the wild zoo. now there is a carbon tax of 10% more. this state is pushing people deeper and deeper into poverty. that is why they are living in poverty. that is outrageous. stuart: you can body surf on the jersey shore. hold on a second. there is one other item and i have to get to it.
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what about taxing the miles you drive as opposed to the gallons you buy? >> california gas is already too expensive. we have cleaner fuel. we have less gasoline being consumed and california. now, this mileage tax is ridiculous proposal.
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detecting exactly how many miles we drive. your gas tax replaced this road usage tax. it is a pilot program right now. by 2018, they want to try to revolutionize it. even though liberal aclu is neutral on this idea. that is absolutely absurd. what is the legal effect? it is absolutely absurd. stuart: you are out of time. you do have time to run to lax and see if you can get on a plane to new york city today. >> i am staying here.
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i will fight it out. stuart: have yourself frozen yogurt in the middle of winter. the chief of frozen yogurt is next. double local
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welcome back to showdown! jerry rice here with 8 year old andrew hunter debating who will win the big race between the tortoise and the hare. what do you think andrew? rabbits are faster. it's not a rabbit, it's a hare. what's the difference? maybe figure that out before debating the best wide reciever of all time. wait, are you odell beckham jr.?
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stuart: and it really is cold outside and the northeast. not really the best whether to go out and sell frozen yogurt. look who is here. he started this line of business. did you invent where you go with your little pocket and you get your different flavors? >> a lot of people think that is me. i learned from the godfather that opened the store and 1988. stuart: it works. people load up. >> we leave it up to them. stuart: how do you sell frozen yogurt in the middle of a blizzard? >> -- >> it is very hot. be careful. it is good.
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stuart: that is good. this is made with two of our artisan flavors. stuart: the snow is falling. how do you get it into hot chocolate? it has really paid, a social gathering place. stuart: it is not a criticism. it is an observation did i think the frozen yogurt franchise is saturated. >> yes. there is more and more opening up. stuart: when are you going public? >> you asked me this last time.
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we are not looking to go public right now. stuart: you want the money. >> i do like money. we will focus on that when we are ready. we need to figure out more opportunities. stuart: thank you for joining us. we want to know when you are going public. i want to see you with 100 million in your pocket. thank you very much, indeed. we will have more varney for you in a moment. ♪
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[vet] two yearly physicals down. martha and mildred are good to go. here's your invoice, ladies. a few stops later, and it looks like big ollie is on the mend. it might not seem that glamorous having an old pickup truck for an office... or filling your days looking down the south end of a heifer but...i wouldn't have it any other way. lo ok at that, i had my best month ever.
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and earned a shiny new office upgrade. i run on quickbooks. that's how i own it. know that chasing performance can mean lower returns and fewer choices in retirement. know that proper allocation could help increase returns so you can enjoy that second home sooner. know the right financial planning can help you save for college and retirement. know where you stand with pnc total insight. a new investing and banking experience with personalized guidance and online tools. visit a branch, call or go online today. >> a new collar, hard-working avenue fax ring and agricultural district. i am faring as well as the
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president spoke of. we have seen the average family income. stuart: the dow is down 300. now, here is deirdre will tend. deirdre: thank you stuart. technology stocks falling the most in three years. yahoo! and apple reporting after the bell. marissa meyer and her turnaround attempt. apple reports this afternoon. they sold more iphones in china than in the u.s. for the first time.

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