tv After the Bell FOX Business March 5, 2014 4:00pm-5:01pm EST
14 million subscribers. [closing bell ringing] some of them probably have a didn't kill. david: by the way certain sectors did well. financials were doing particularly well. bank of america up 3%. you can look at overall down day on the dow. but it is a mixed signal on a lost individual stocks we've been looking at. the dow jones industrials as you can see is a down arrow. that is 31. not so with the s&p. very close to a flat line on that. nasdaq pulling out some gains, very minor. you look at individual stocks and what they were doing. there are a lost stories worth talk about. let's start with your front page headlines today. the private employers added 139,000 jobs in february. that gain fell short of economic forecasts. adp data coming out just a couple days before the government's jobs report on friday. meanwhile a closely watched gauge of services activity fell to a four-year low last month. the institute of supply management, non-manufacturing index dropping to 51.6 in
february. this is down from 54 in january. shares of the homebuilder hovnanian enterprises sharply lo quarterly loss widened. hoe mainian was hurt by bad weather and retail and labor shortages. target is looking for chief information officer after resignation of the executive in charge of the company's computer systems. she stepped down after the massive data breach in the holiday shopping season. bank of england suspended one of its officials part of an internal investigation connected to the alleged manipulation of global currency markets. at least 20 currency traders in the financial industry have been fired or suspended. >> >> russian forces remain in firm control of the ukrainian region of crime came. the european union -- crimea. european will give ukraine an aid package worth up to $15 billion. we have a busy hour for you.
"after the bell" starts right now. david: a full hour coming up including steve forbes on tim cook's controversial statement to shareholders. and peter schiff. he says forget the taper. the fed is actually going to buy more bonds, print more money soon. but before all that, let's head back to liz in mountain view, california for a look what she has coming up,. liz? liz: david, we're in the computer history museum where historic pact was just signed for innovation and technological sharing between israel and the state of california. governor jerry brown and prime minister bebe netanyahu of israel just put pen to paper about 25 minutes ago to say we will share all kind of ideas. we can show you some video of that signing. as we do, benjamin netanyahu simply said the smartest brains come from silicon valley and
silicon vade. that is hebrew for valley. they will share all kind of ideas. israelis are great at cybersecurity and water conservation. they're great at renewables. so they will be sharing all kind of ideas. coming up this hour we're bringing in a top israeli entrepreneur who start ad company where you could pretty much say, super search me. he runs a company called jinni. these are electronic con he is age when you want to find a movie. it is one of those searches, instead of rudimentary like comedy, drama, action, it goes into way more detail so it can.point your desires. a way to show what is going on in silicon valley and israel. jissi has operations here and in tel aviv. 5:00 p.m. eastern time, my one-on-one interview with prime minister benjamin netanyahu. a lot going out with crimea,
russia and red sea. why this partnership makes so much sense. meantime a lot of companies in silicon valley were already on board like intel. intel inside of the you heard that expression. they have been inside of israel for decade now. i had a chance in a fox business exclusive to speak to intel ceo brian chris san niche. i had it last hour. what they gleaned from the operations in israel? >> they showed us innovative society. great number of engineers they were graduating each year. the government opportunities. the whole ecosystem was really there to senator us. liz: i'll tell what you is here. computer history museum. anybody that knows anything about the history of the computer, i know you heard of the home brew computer club. it was one of the originals. look at this. it was made by steve wozniak. one of the originals of apple.
i know we're rushed on time. i want you to come this way. 1977 is big year for computers. here is the apple ii. look at radioshack from 1977. personal computer. this will bring back a good memory, david. atari. you have to visit the museum. david: i have my own museum in the basement. i have a tandy 100. i don't need to go to mountainview. thanks, liz. with all the today's action, kim forest, fort pitt capital group who says investors should not ignore unloved stocks. todd horowitz joining us from the cm. todd, i want to start with you. let me just ask you a question because a lot of people out there missed the 2013 rally. who kept their money in cash and looking at these gains and saying jeez, i got to get in now. what would you say to those folks? >> i would say, david, absolutely not. this is not the time to get into the big markets.
in other words, big mutual fund that representative sent, s&p, russell, no. but individual stocks, individual stocks are always viable if you find them at good levels. that is the key to understanding investing and trading getting into stocks when they're ready to be bought. the overall big markets are much closer to a top than the -- i would see. i would tell investor many coming in. no new money unless you can find one or two particular stocks. go into mutual fund of s&p up here i think you're throwing your money away. david: kim, on the other hand, if you see every time the market go down you this is a pullback from the pullback. >> crazy how the market wants to continue to go higher. i think some of it is from retail investors buying in, you know, at whatever price. they don't really look. you know it may be not be bad overall. it just depend on your time period. how much time do you have? if it is three to five years,
maybe it is not a bad time but, you know, we look at individual stocks. we try not to time the market. and i think that is what investors have to do, is, agree with your other guest, look at individual stocks. david: by the way, kim, so often i try to get a specific number from some of these traders down on the floor about what the s&p will be like at end of the day. they are so reluctant to do that. even teddy weisberg sometimes is afraid to do that but you've got a number is so specific. you think the s&p will be at 1938 at the end of the year. >> yes. david: where did you get the number? >> well it is from using ourour estimate from what the s&p 500 companies are going to earn this year and that is $114. you multiply that by the multiple that we think is reasonable which is 17. and you come up with 1938. i know it's a little goofy but is that where the market is going to be? i don't know. we think that is what a fair
value for the market is going to be. maybe there is a little different semantics there for you but that is fair value for us. david: todd, do you have a number? >> on the upside i don't disagree we could not get there but i'm looking for 1560 on the downside first. david: wow, on the downside. todd, i agree with a lot of what you say this looking to be frothy market, et cetera, but it can't be said enough how tight the balance sheets of most corporation are right now. they have really slimmed down. both their debt and personnel to levels that i have never seen before in my life. it is, we are a spring ready to pop, are we not, in a positive direction? >> we certainly could. i don't see why we couldn't pop. but again, when you take a look, we had the beige book today, you know if that is the best they can do after a five-year rally and basic costs of $325,000 for american family we're not in very good shape. they have tightened their balance sheets, i agree with
you. we could spring up but i think there is much better chance it could go lower. david: by the way scott schermerhorn is here as well. scott, talk about the consumer, if the jobs report on friday comes out weak, we had a weak adp report today, consumers will think twice about digging into their pockets and coming out and spending money, right? >> yeah i would agree, david. i have a sneaking suspicion, david, three months from now, i hate to use the weather, i think three months from now we'll look back that this winter had major impact on consumer behavior and as well as general business and economic behavior. i think once we realize that, people will again start to realize the consumer is just fine as is the economy. david: kim is that true? do you think you can blame it all on the weather? >> i don't know that i would go that far. i think a lot of it is the weather especially in consumer discretionary. i don't think people will buy the new spring fashion especially at this point on the
east coast. the other thing is, the, somebody who just got their propane bill for their hope heating, you know, that is eating up a whole lot of -- david: that is a good point. >> of, you know, not really disposable income. you need to heat your house but there are a lot of costs associated with bad weather. but looking at the other factors from other areas that aren't experiencing this, it has been a slowdown throughout the u.s. regardless of how good or how bad the weather has been. that's a concern. so i would like to see things pick up in the spring. and we'll see if that happens. david: yeah, todd, you know, they always take out energy and food when they're calculating inflation. as kim just pointed out, it is hard to take energy costs out of the equation these days. >> you know, if you take the average worker who is making less today than he made five or six years ago, and we're paying more for gas, more for groceries and look what is going on in the
livestock markets, meat will go through the roof, where do people get money to spend? that is issue we come back to. the job numbers are coming down we're not producing new jobs. that is where i see the real problem going forward. >> job numbers may be going down but the market generally speaking is going up. scott, in that kind of environment are there any companies you see with lowhave wages out there? >> yeah, i think consumer, that is a good point, consumers are spending more of their money on heating their homes right now. i think there is a lot of pent-up demand we'll see later on. look at general motors, very inexpensive company. they're doing all the ride things. average age of a car in this country is 11 years old. of put 15,000 miles a year on car, do the math. a lot of miles on them. you have a long replacement cycle ahead. i think you have also companies have stumbled. coach is a good example. had a fashion mistake. had some competitors come in but with very valuable brand and reasonably prices.
i think the companies do well once people realize the consumer not in as bad of a shape as some fear. david: kim, you like boeing. i have to push back a bit on boeing. >> sure. david: they make big airliners and sell airlines to emerging market countries and those countries have not been doing so well lately, have they? >> no they haven't but we're looking further out. the orders for boeing, not like you go to the boeing store and pick up a plane. so i think that the orders that these countries have, you know, out for the next three to five years we have to look there for the demand, not necessarily for the immediate term. so looking out, we think that they will be continuing to process these orders and they will take their planes as delivered, or as contracted. we're pretty confident in that. david: kim forest, scott, thank you very much. todd horowitz, thank you as well. >> thank you. david: fed chair janet yellen, i almost said fed chairman, she doesn't like that term, made it
clear is full steam ahead when it comes to tapering. but peter schiff is not buying it. he not only sees a halt to tapering but increase in money printing and bond buying. he is here to tell us why. isn't the whole point of investing in something to get a return on your investment, roi? isn't it all about roi? investor tim cook, if you want returns, don't buy the stock. was this irresponsible of tim cook? steve forbes weighs in on that straight ahead. we're heading back to liz who is in mountain view, california. liz? liz: david, from this to this. boy from the early stages of phones to this this you couldn't search for what movie you were going to watch tonight. back on that old thing but you can on this. coming up we're talking to the israeli entrepeneur who start ad company that says super search me. the ceo of jinni is coming up live from mountainview,
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>> breaking news in washington as the obama administration allows another obamacare delay. allows transagessal period that keeps the plan that the administration phased out in the health care law all the way through to 201. the president through the health care law announced this change because they didn't comply with obamacare. that change is additional two years during that period the
administration announcing risk corridors, this is provision if a health insurance company signs up too many healthier people they pay into the corridor. if they sign up sick or older people they take money from the corridor take premiums this is written in a way where the federal government would have to kick in money. administration made adjustments to it to make sure it would be deficit neutral or project to be deficit neutral. all of this the administration according to official he doesn't think there are anymore major changes on the way for obamacare by end of this year, but still another accommodation the administration announcing now. if you like your plan you can keep it. the president had to make the change to the administration's law to do so. that accommodation is extended for two more years after the next presidential election. back to you. david: some people call that risk corridor a bailout. we'll wait and see. thank you very much, rich. fireeye shares are soaring right now. they're up more than 8%. let's head back to adam shapiro on the floor of the
new york stock exchange. adam. >> not bad for a company which had its ipo in december. daniel ives raised his price target to $100 up from $90. they hit a new high, $97.35. year-to-date the security firm shares are up 118%. one. new billionaire on the forbes list is founder. this company again the ipo in september. the company has been around since 2004. shares are up 377% since the september ipo. and according to ives over at fbr, the company's 2014 outlook looks conservative. you could have got in on this 20 bucks a share in september. what were you doing, david? david: hard to remember. adam, thank you very much. a weak adp report this morning is causing worry ahead of friday's big jobs report. as we continue to see weak data will the fed call timeout on its tapering? that is what our next guest is
suggesting. he also says even if we're heading into another recession the fed should step back to let it happen. joining me, peter schiff, always interesting and controversial and author with his brother. with his brother. >> is he no not top billing. david: he claimed the letters are bigger. >> they are bigger. david: why a grows and crashes. if friday's jobs number is weak you say fed will do what? >> they won't do anything on friday. they will blame the weak data on weather. the weather is the best thing that the government has going for it. david: they will stop and reverse tapering? >> eventually. not only stop and reverse it and do more qe. the whole fantasy of a recovery will fall apart. right now people are in denial because they're blaming everything on the weather. that is the excuse. david: let's by the way quote janet yellen on the weather if she said. a number of data releases pointed to softer spending than
analysts expected. that may in part reflect adverse weather conditions but at this point it is difficult to discern how much. >> it is not weather. they're blaming lower internet sales on weather. blaming bad car sales for gm and chrysler on the weather yet mercedes, bmw and maserati had record sales. the rich guys buying maseratis they can make it out in the snow but john any six-pack who is buying a pickup truck from chevrolet he is too much of a wimp to go out in the snow. david: if it is not the weather, what is it? >> it is the economy. the economy is weak. the fed stimulus is wearing off. that's why they come back with a bigger dose. david: what way is the economy weak? i talked to our analysts how so many corporate balance sheets are strong. they have very little debt. they have pared down personnel to bare bones. in what way is economy weak? >> dough don't have very little debt. they have a lot of debt. a they have a lot of cash. a lot of cash was borrowed. it wasn't earned. they didn't borrow the money
because of vibrant economy but because the money is so cheap. the fed is giving it out. david: we're not producing more. david: you're saying companies are borrowing cash just to hoard cash? >> they're borrowing it because rates are low. they're issuing long-term debt. a lot of cash they're using to buy back their own shares. they have to borrow it first before they use it for the share buybacks. a lot of companies want to borrow money while it is cheap. they know eventually rates will to up and they won't be able to borrow it. david: fed's chair can he janet yellen about whether they will continue tapering of we expect to continue reduce the pace of purchases in measured steps which would mean ending comb heatly the purchases -- completely ending purchases and winding down next fall. you say no way. >> that is posturing. the fed can in the admit we have phony recovery that will collapse the minute they take away the supports. she has to pretend it is legitimate. she is waiting for proper
excuse. oh, you know something happened we didn't expect. we coin have anticipated this. as a result of that we have to slow down or taper the taper. eventually they will come up with even larger dose of qe. the fed ultimately will be buying more than $100 billion a month. not because it is going to work. it will not work. the fed created this problem. the reason we don't have a real recovery is because of the fed. david: all right. do you think we're going into recession? and if so, is there anything the fed can do about it? >> no i think we've been in recession the entire time. i think recovery is illusion. they keep talking about jobless recovery. that is because it is not a recovery. that is why it is jobless. the only reason it looks like recovery because numbers are not rate. inflation numbers are too low, so it looks like growth. we're creating inflation and spending borrowed money and counting spending of borrowed money in gdp but we're ignoring debt accumulated to finance the money. david: i couldn't speak to peter
schiff without mentioning gold. your fund is up 25%, congrats. not enough to wipe out losses in 2013. >> not for my fund because we started late in the year. if you bought early gold stocks you haven't made up losses yet. david: that is gold. v-shape, if you're looking at pacific fund. >> you know the gold has been going up for 13 years. we had one down year and everybody in the financial media acts like, this is it. gold will never go up again. david: quickly, are you buying? >> i'm buying. i think everybody should be buying. we're going lot higher. david: how an economy grows and why it crashes. that is the book by peter schiff and his brother. available right now. >> yeah. david: peter, thank you very much. with russia likely to use natural gas card and getting its way in ukraine, is now the time for the u.s. to lift restrictions on its export of natural gas? we check in with peter barnes. a hot topic. that is next. adp saying fewer than expected private sector jobs were added
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david: time for a quick speed read, some of the day's other headlines, five stories in a minute. morgan stanley weighing sale of private bank in switzerland which manages about $11.3 billion in assets. reuters is reporting that the bank is looking at several options. ups is expanding the alternative fuel fleet by 32%. the company will spend $70 million to buy a thousand delivery trucks powered by propane and build 50 fueling stations across the country.
global pc shipments fell nearly 10% last year, the worst contraction on record. research firm idc expects shipments to decline by 6.1% this year due to lackluster demand in developing countries. yahoo! is dropping the option for users to sign in with google and facebook log-ins and will require yahoo! i.d.es. the swill will role out gradually and affect services like flickr and fantasy sports. he earned more in 40 minutes than last year. head of federal reserve according to sources familiar with the matter. [buzzer] bernanke was paid $250,000 for public speaking engagement in abu dhabi, which is $50,000 more than he earned the whole year. that is today's "speed read." little more than a minute. europe and ukraine dependence on russian natural gas is calling for end to restrictions on our natural gas exports. a lot of money at stake for the
country's biggest energy companies. peter barnes inside the beltway with more. peter? >> that's right, david. russia supplies europe about a third of its natural gas mostly by pipelines that run through the ukraine. vladmir putin cut off supplies before in disputes with ukraine as you recall. the push to export our natural gas is gaining more traction for geopolitical reasons, not just economic reasons, to reduce russia's leverage over many of our key allies. the push comes as the u.s. is experiencing natural gas boom, thanks to fracking. the u.s. is now the world's biggest natural gas producer, topping russia. but critics say the energy department has been dragging its feet. approving applications to export liquid natural gas. the process takes about 2 to 3 years. it has approved about 6, as approved six applications so far and has 24 more applications pending. here are three of the public companies that have applied and want to get into this business.
house speaker john boehner said that the president shut use his pen and phone to get the energy department to accelerate its reviews. the there is also bipartisan legislation in congress to make it easier to export natural gas to our key allies, but, one analyst says, long-term supply concerns and price spheres have kept it from passing. >> even though the long-term prognosis in most of these export decisions is really that you if you don't export now your supply won't be there later, it doesn't feel that way to voters when the winter is cold. >> we asked the energy department for formal comment. it hasn't given us that yet but analysts say the department's approval process is very complex, detailed, and requires this long study about whether gas exports and projects are in the nation's national interests. kind of like the keystone pipeline, david and beside, analysts say that even if the energy department could speed
this up, wouldn't help fix things in the ukraine crisis short term. back to you. david: bureaucracy and speed don't always go together inside the beltway. in fact they probably never do. thank you, peter barnes. appreciate it. >> thank you, david. david: apple ceo tim cook raising eyebrows with very controversial remarks. suggesting that the tech giant should put environmental concerns above the company's bottom line. is this taking personal commitment about the environment a little too far? we'll ask steve forbes, forbes media chairman and editor-in-chief what he makes of cook's remarks. also liz has more for us from mountainview, california. liz? >> david, what do you feel like watching tonight? if you wanted to rent a movie, it is just so broad to say comedy. how about if you say comedy where the human spirit prevails and also a chick flick? boom, the video jeannie. has as in jinni. it is your electronic movie
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axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especlly those who are or who may become pregnant, and children should avoidt where axirons applied as unexpected signs of puberty in children or changes in body hair or incased acne in women may occur. report these symptoms to your doctor. tell your doctorbout all medical conditions and medications. serious side effects could include increased sk of prostate cancer, worsening prostate symptoms, decreased sperm count, ankle, feet or body swelling, enlarged or painful breasts, problems breathing while sleeping and blood clots in the legs. common side effects include skin redness or irritation where applied, increased red blood cell count, common side effects include skin redness headache, diarrhea, vomiting, and increase in psa. ask your doctor about axiron. david: most of you think of startups you think of silicon valley, right? if you look around the world capital investments in israel
are far greater than other countries. let's head back to liz in mount vain view, california, with one of extraordinary israeli entrepreneurs who is changing the way we watch tvs and movies. liz? liz: we know startups in many cases become ipos. on the nasdaq, israeli companies and israeli entrepreneurs are second only to chinese companies in the number of companies that list on the nasdaq, about 68, at last count. so it's a fascinating view of a very small country that is able to outdo gigantic countries. my next guest is an entrepeneur who one day maybe ipo this company. he is yosi glick, the cofounder of and ceo of jinni. this is discovery engine for movies and tv shows. welcome to the program. >> thank you for having me, liz. liz: you have operations both in tel aviv and mountainview, california. prime minister benjamin
netanyahu striking this partnership in california. what do you think this really means? who benefits most from this relationship? >> i think markets, first of all big market for israelis is here in the u.s. potentially bigger and israel is actually a small market almost by definition. but on the other hand, people are eager to develop technology. somehow all that energy comes and explodes here in the u.s. market. >> yosi, what is in the water in israel? there are so many engineers and technological advancements and what is it about the culture there that spurs this kind of behavior? >> maybe a jewish mother. that is one possibility. >> from my experience jewish mothers can be tough and pushy. certainly way the culture emanates around this country. >> everyone wants to pull themself. i can't say combination of meg low mania and showing who you
are. education level in israel is so high. all that knowledge needs to be exploded somehow. that gets many investors into the technology. liz: here's how it exploded within you. you started this company, jinni, a play on the word genie, as "i dream of jeannie." because you thought there was better way for search for movies and television shows. you have an app now on the itunes store. talk about what it can do because as you look how you can analyze the desires of a typical viewer, what are the things that this company can do, this app for people? >> so, let's say i have my lucky day and we go on a date and i have to find something for you, to watch together. so let's say, i suppose we want something deliver, right? liz: okay. >> i think that suits your personality. liz: all right. >> and then maybe supposedly they have to say, that this is for a date night, right? liz: okay. >> we choose something for date night. >> all right. >> because you're a media
person, i suppose you would be interested in talking here, something that is about talking. >> okay. >> so which choose something talking. it spits out movies. ruby sparks, that is a movie from 2012. >> right inside we show you where is it you can find. we are building this app to become a personalized remote control. >> sure. >> for tv, over the top content video and cinema. >> okay. >> one application you see universe of video. you are in the center. liz: you have partnerships with microsoft, xbox, come as as well? >> we work with xbox. jinni is installed some million number of boxes. we also work with xbox and xfinity. pretty large customer. soon we will launch together
with have do. overover the top operator. overall our business-to-business relationship is pretty good. liz: but the customer can go on itunes for the jinni app, jinni. fascinating to see. quickly, ipo at some point? >> we will see. liz: we will see. that is typical israeli response, trust me. wish you the best of luck. yosi glick of jinni. it is nating to see all these companies. why prime minister benjamin net-net wanted to sign this up. 5:00 p.m. i sit down with prime minister netanyahu to talk about the new pact he signed with governor jerry brown of the state of the california but also the backdrop which he signed this and that is tensions globally that involve israel and in others it does not. israel always the most important piece in the middle east when it comes to that chessboard.
david: secret ingredient is that jewish mother. i don't think we can mass produce jewish mothers of the liz, thank you very much. tim cook getting mad at global warming doubters suggesting they get out of his stock. is that taking his personal beliefs too far? we'll ask steve forbes, forbes media chairman editor-in-chief. you don't want to miss this next. ♪
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david: investor warren buffett shocked a lot of his liberal friend saying this week he hasn't seen evidence of the kind of catastrophic weather events long predicted by global warming worries. on the other hand, apple ceo tim cook stood behind his company spending on climate change projects. telling a group of conservative stockholders, if you want me to do things only for return on investment reasons you should get out of this stock. so how far should ceos go injecting themselves and their company's capital into this debate or debates like this? let's accident mr. steve forbes, editor-in-chief of forbes. david: good to see you. >> good to see you, david. david: what do you think of tim cook said first of all? >> i think that was not just subject at hand. i think he is very, very worried and very, very angry. he has a lot of tough things out there. he had people comparing him to his predecessor. he is controlled man. and he let loose. david: he got mad specifically
at a conservative stockholders, asking the company to move away from its standing behind global warming enthusiasts. but when you think of fiduciary responsibility to the stock itself, you don't want to be talking people out of buying the stock, do you? >> no. i think that was again, just undisciplined response. part of the problem when in terms of believers in global warring, david, is that the evidence is coming in that this is no sure thing -- global warming. 16 years ago, late 1990's they would be predicting we would have a lot of warm weather. they predicted seven years ago, melting of arctic would not mean we wouldn't have much snow anymore. they blamed the lack of warm weather on global warming. blame cold weather on global warming. i'm surprised they haven't said the yankees haven't won a world series because of global warming. david: warren buffett, who you far as you can get with right-wing extremist, more friendly with liberals than
conservatives, with hard bottom line evidence there have been no catastrophic events. he is in charge of a lot of insurance companies. if there had been these catastrophic climate change events he would have to pay out money for them and he says we haven't done this. what al gore is saying is wrong. >> you get hurricane cycles all the time. 20, 30 years, you get a bad cycle and a good cycle. we're in a warming phase after a little ice age which began in the 1300s, ended around the 1700s. we're recovering from that. led to great famines in your on and asia that ice age. david: company based on, elon musk, has a couple companies based on alternative sources of energy. granted they got money from the government to begin with. tesla is operating on its own. stock might be val overvalued. they're coming out with real product the. you're diverting something to product not making return on investment. that is what shareholders are bothered with apple.
>> i'm one of those don't take extreme view. if company wants to get involved on something because they think it is good for the community, fine, put it on the shareholder ballot. tim cook would win with his base but you don't lash out. david: that is interesting point. >> saying i don't want your money. david: steve jobs, who of course tim cook is worried about being compared to all the time, he was against corporate philanthropy, wasn't he? >> he took the position he was doing more good for the world what he did with apple and did measureably help the standard of living for world, brought the world together not heard of before and such a scale and he felt that was real good. others felt he do more traditional philanthropy. i love that debate. i can see jobs point of view and sea seeing we could spend bucks on it. apple has more problems than global womaning. coming up with nauert products. david: should corporate philanthropy depend on what the
shareholder is favor of? should all decisions be put to shareholders? >> you have to trust management on this, what they think it is good. if a shareholder wants to challenge it she thud be able to and weigh in if they think it is overboard and shouldn't be doing it. david: all right. >> what i worry about when companies pull back because of pressure from the government. big banks now, doing nothing but the most safe thing possible because they don't want to get into the cross-hairs of washington. >> steve, you wear a lot of hats, including regular, namesake hyped for example on fox, which is on fox news channel -- "forbes on fox." 11:00 a.m. saturday mornings. >> great host. >> thank you very much. the producer of "forbes on fox", annie good man was fortunate to push the button. opening belle button on nyse. new york stock exchange. let me see if we can find an any good man right there. -- annie good man. she is on the left. not the blonde but brunette on the left. she has been dealing with a
bought of cancer. god willing she will pull through just fine. wonderful to see her there. >> fantastic, annie goodman, forms on fox every saturday at 11 -- "forbes on fox." there you go i was waiting for the promo. lois lerner refuses once again to answer questions on a hearing targeting tea party groups. rich edson had a ringside seat at today's brawling hearing. there's this kid.
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david: former irs official lois lerner again refusing to answer questions in front after raucous congressional hearing this morning. lost in the shuffle between congressman was a lerner memo from 2011 may turn out to be smoking gun in the case of irs targeting political conservative groups. rich edson was there. ringside seat. how was it? >> it got very contentious, had very little to do with lois lerner. chairman darrell issa asked several questions. she pled the fifth. issa wouldn't to end the hearing. the top democrat wanted to ask questions, so the hearing didn't end there. >> close it down. >> illusion directed by
white house. before our -- single document. >> thank you, mr. cummings. >> continued to -- >> do you have a question. >> if you will sit down and allow me to ask a question, i am a member of congress of the united states of america! i am out of this. >> well -- >> we have members about over here, each who represent 700,000 people. you can not just have a one-sided investigation. this is absolutely something wrong with that and absolutely un-american. >> here, here. >> we had a hearing. it was adjourned. i gave you an opportunity to ask a question. >> i do have a question. >> now before, that chairman qun this email, one she sent february 1st, 2011. saying tea party matter very dangerous. this could be the vehicle to go to court on issue of whether citizens united, overturning the
ban on corporate spending applies to tax-exempt rules. council and judy kendall need to be in on this needs to be in on this, since he probably not have these cases. holly please see exactly what they have please. cincinnati not being in on this is the administration's contention so far this was something that took place inside the cincinnati office. cummings says. the top democrat, wants to question lois lerner on all this. he contend that republicans are operating one-sided investigation here and around and around they go, david. david: rich, i don't want to overstate the importance of this memo lost in the shuffle between congressman. the president said time and time again, including to our own fox news's bill o'reilly, this was a cincinnati abrasion. a bunch of local yo calls government involved in this. they shouldn't. this memo specifically says from lois lerner, inside the beltway, not only is cincinnati not the center of this, but they should be kept out of it. this should be a washington, d.c. operation. that is very important. >> it is an important fact.
one the committee would have liked to question lois lerner on. she pleads the fifth. second time in nine months. david: she may be coming back yet again. , if they put out a court order to try to get her t was fun day inside the beltway. rich edson, thank you very much, my friend. meanwhile with the unemployment rate still at 6.6%, millions of americans are looking for jobs. perfect time for a new study released by wallet hub that ranks the best cities to find a job in. among the 13 metrics used were number of jobs opening per cap tax employment rate trends, industry, variety. number three was tampa, florida. unemployment rate was in the city was 5.9%. city's workforce is the 8th best paid in the nation. number two, surprise, surprise, washington, d.c. where all your money is going. the area ranks third for percentage of workforce employed full time, second to median starting salary. the best city which to find a job? fort worth, texas.
the city has the nation's fifth fastest falling unemployment rate, and forth largest proportion of full-time employees. the city's december unemployment rate is 5.6%. thanks so much for joining. gerri is next. impact life expectancy in the u.s., real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global ecomy. it's just one reon over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and eenses to read and consider carefully before investing. ♪ [ male announcer ] help brazil reduce its overall reliance on foreign imports with the launch of theountry's largest petrochemical operation.
gerri: hello, everybody, i'm gerri willis. right now on "the willis report" , college entrance test makeover. we're breaking down the biggest changes to the s.a.t. in nearly a decade. also, our one-on-one with israel's prime minister, benjamin netanyahu. we're talking business politics and his new partnership with the u.s. and "consumer reports" appears to help us to answer the question, do you buy the extended warranty for your car? we're watching out for you on "the willis report."