tv FOX Business After the Bell FOX Business September 23, 2013 4:00pm-5:01pm EDT
market. [closing bell ringing] david: there is so much more to talk about. blackberry, we have a special blackberry pan them. we'll talk about all the stuff as the bells are ringing. by the way, the man who is ringing the bell, you see him in the hat on the left, a at nyse. that is the president of nigeria. he will join us right here in just a couple of minutes to talk about that awful situation in kenya and whether or not that is going to spill over into other countries in africa. how that might affect invests in africa and other emerging markets. we'll talk to the nigerian president coming up as you look at all the indices in the red. could be a lot worse. it is individual stocks we're looking at but when you look at the russell 2000 down a tick today, you have to say a market neutral day, wouldn't you say, liz? liz: indeed. not from the standpoint of front page headlines. new york fed president bill dudley says the federal reserve will reduce support for the
economy, fancy way of saying taper, later this year. he warns the economy still needs accommodative monetary policy. david: meanwhile general motors says it will be buying back just under half the gm preferred shares held by united autor workers health care trust. gm is paying just over $3 billion for those shares. liz: wal-mart plans to hire 55,000 temporary workers at u.s. stores during the holiday season. that is an increase of about 10% over last year. david: microsoft unveiled a faster more powerful version of the surface tablet in an attempt to boost sales and try to win market share from apple's ipad. liz: manufacturing activity grew slowly in september. david: market. liz: says the demand for products declined. firms took on fewer workers. david: in the market. private space company orbit tall sciences further delayed a docking after cargo ship with the international space station.
the docking will take place on saturday. a very busy time here. "after the bell" starts right now. liz: we've got apple, citi, blackberry, so much to talk about it. let's get down to today's action. ron weiner, rdm financial group the ceo and founder. he has three ways to play the market. michael gerka from the pits of the cme. michael, let's get to what happened today. david and i are saying it is more of an individual stock story that drove the action. >> absolutely. for the reasoning, you see s&p climbing its head above 1700 here, i will not say pessimism is creeping into the market. what we're seeing impetus, that decreased demand could be picture for end of the third quarter into the fourth. we're seeing that because of where bonds were trading. yields coming down to 2.70. confidence eroding with some of our economic releases. david: ron, how did you get
advance notices with iphone sales? you've said they will come back. iphones in particularly will lead the way. exactly what happened with apple. >> particularly go against the street. when everyone goes one way the idea is to go the other way. we believe it's a cheap stock. trading p-e ratio as proctor & gamble. that is absurd. david: when does it stop becoming cheap at what price? >> depend how much they unveil. depends on new products. depends -- david: you're avoiding, ron, specifically a number. 550? >> you're not getting me to bite, david. when the stock stops innovating when you start to worry and maybe get out. they still have a long way to go. they have a lot of things in their workshop. we'll watch it right now, trading at about 14 times this year. 12 times next year. 10 times 2015. i don't know. seems like a cheap stock to me. liz: well, ron, you have looked at those names. you also looked at financial names. you like jpmorgan. if you filled up that basket
with names, you've got. xl, financial etf, and it has done extraordinarily well over the past year. how long does this continue? i think there is some concern, more so than the past year, when all we've seen is the market take a moon shot but a little more concern now there has been a nice run-up? >> yeah, well, from where? citigroup is, was $2 a share five years ago. so now, it is, what, $$ a share. liz: reverse split too. >> reverse split. it was 50. but it was 5. really a matter can they lend more money can they make more money? they make more money when interest rates rise. when interest rates rise, we've taken a little bit of a reprise here. citigroup will probably be great. we'll go against the street. everybody seems to hate jpmorgan. we'll buy it. we think they're a very solid company. their asset management division is making money hand over fist. they have a solid balance sheet
and great management obviously but i think you have to hang in there a little while with them but the most important thing, i think the government seldom gives gifts. i think they're giving as you gift now. i think shenanigans going on with the debt. we all know it will end up okay but people will get worried. i think a little bit of this market now is because of worryworry about the deficit and what the republicans and democrats are ultimately going to agree toys, that is very interesting. let me throw that back to michael. he think he has an interesting point does ron. some people view this as buying opportunity. the fact that they're making, market may be makeing a little too much for the shenanigans inside the beltway. hopefully there are some traders who want the market to go lower so they can buy in. >> you know on the holidays every once in a while you get a really bad gift too. david: that's true. sometimes coal is coal. >> yeah. this could be a gift but listen
over the last five years there has been a lot of opportunities but you can only tap that keg so many times. that is one. reasons we're watching crude oil so closely here. i think even though overseas we're starting to see some of these occurrences happen that should spike the market, more of a demand scenario. that's one of the reasons why fundamentals are telling us things are a loot more bearish out here than one would-be leave liz: where is the opportunity in the commodity world that might be coming? viewers say that is down the road. cotton, for example, it appears there may be a later harvest and that could hope problems with example, more serious weather. is that a long opportunity? what are people saying in the pits? >> well i would say that on the soft side there's been a lot of speculation that coffee has had a nice run and same reason people leave housing market with any life to it whatsoever. lumber is beaten to death.
that is showing itself to be cheap. on grander of scale of commodities most upside is clearly silver. silver has best return to date. think it remains cheap if you believe in any scenarios i've been barking about. david: ron, quick point, because we've got to get to emac with breaking news. the fed is coming out with these daugher predictions about the economy. they got the growth projections wrong. could be again behind the curve? maybe fed itself is missing out on some growth sprouts here? >> we're loose looking at europe and emerging markets coming back a bit. 45% of all sales from the s&p 500 come from overseas. i think there may be a little more. not the best scenario to buy stocks today but i think it is only game in town. interest rates will rise eventually. that will be bad for bonds. s&p, large cap u.s. is pretty safe place and nibble a little bit on the outskirts of our borders, being europe and emerging market. have to have a 12-24 month
horizon or you will drive yourself nuts. david: great stuff. liz: michael. thanks. michael we'll check back in four minutes as the s&p news closes. david: we're back to the story liz macdonald is reporting on. she told you it could happen a week from now. now she has more details. >> citigroup telling fox business that they will lay off mortgage unit workers. they start with a thousand workers. places getting hit with layoffs, las vegas, nevada and irving, texas and more states. they say there may be more action by the end of this year. citigroup telling fox business they're not making projections for anymore layoffs next year in 2014. citigroup joining jpmorgan chase, bank of america, wells fargo, laying off mortgage unit workers as mortgage rates risen and refinancings dropped off. whether or not this is a typical boom and bust cycle for a mortgage unit remains to be seen. this is real indicator what
happens when mortgage rates start going up. you may see more layoffs coming at banks if rates continue to rise. we'll give it back to you guys. david: emac, thank you very much. >> sure. david: meanwhile the terrorist attack on the upscale shopping mall in kenya raises some very troubling questions about investing in africa and the whole continent's economy. we'll ask nigeria's president how african government's can calm investor nerves. liz: also, blackberry, it was a huge story. it was halted and reopen and a bid on the entire company. will it get out of its jam with its plan to go private. >> well-have a all-star panel to game the deal to sell itself for $4.7 billion to a canadian insurer. david: at that taking us to today's facebook and twitter question. do you think blackberry is worth more as a private company rather than a public one? log on to facebook.com/afterthebell. we'll be right back. ♪ [ indistinct shouting ]
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and children should avoid contact where axiron is applied as uneected signs of puberty in children or changes in body hair or increased acne in women may occur. report these symptoms to your doctor. tell your doctor about all medical conditions and meditions. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet or body swelling; enlarg 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, headache, diarrhea, vomiting, and increase in psa. ask your doctor about e only underarm low t treatment, axiron. liz: we were just talking about this last week and now shares of the daily deal site groupon, falling into the red on reports of sluggish sales last month. let's head back to nicole petallides. she is on the floor of the new york stock exchange. nicole. >> right. when we look at groupon it is really a volatile stock, in this
case to the downside. you see it down nearly 6% today. closed at $11.94 a share for groupon. first of sales numbers, august slowdown more than expected. that was not food news for them. equates to mid-year 20s year-over-year growth versus 30-year over year growth in the second quarter. ieg says that creates risks to the estimates. that's the one thing. the other headline that was also a market moving event, they failed to persuade the federal judge to dismiss a lawsuit about misleading investors about financial prospects and internal controls. this is something else looming over groupon. you had both of these headlines today weighing on the company. as a result you see it down five .5% today. david: by the way you have a stalker behind you. look behind you. like right behind you. you have a stalker there. >> that is ted weisberg. there he is. i'll get him. i'll get him. no, i'm kidding. >> you could have worse stalkers
than teddy weisberg. liz: i think teddy is doing a individual for venezuela or "der spiegel." david: see you later. dropping to a six-week low as citigroup and morgan stanley warn the precious metal will extend loss as u.s. economy improves. liz: let's head back to michael gerka and sandra smith on the floor of the cme. sandra, what should we be thinking about this move? >> looking forward. the markets said good bibuy to the -- good-bye to knee-jerk reaction to the announcement of the fed or lack there of. we've gone from risk risk on to risk off. crude is down more than a buck. stock market is selling off. you have a market now looking forward and citigroup and morgan stanley, the reason why they're saying that gold is going to fall to 1250 an ounce by the end of the year because they do expect the fed to taper. so the market is already pricing in what they anticipate to be
the next move by the fed. david: but, michael, the fed will only taper if they see improvements in the economy. you say what is driving oil prices down is demand. that is, that overall world demand indicates perhaps a slowing economy? >> for the same reason why you mentioned earlier before i was on about more additional holiday hiring on the part-time basis. that is exactly where job creation is. it is part time. there is not a lot of growth out here. for those reasons i could see the risk-off trade. that is why the s&p every time has been 1700 it has been a great sell. i think that mantra will remain. liz: here we are, showing the futures about eight points below that, michael. what do you think the next move is? ex, any major headlines tomorrow? >> 1615 on s&p. and it has been kind after baseline in there. then again if there is any shoots above 16708, a great opportunity to sell more on any kind of a spike. like you said earlier and you did it well, individual stocks
have been the story but the conglomerate, be it, russell, or s&p or clearly the dow, indexes themselves are starting to look very toppy. for those reasons people are seeing a lot more buying of puts in option land. david: 1650. closed at 1702 today. quick last word, sandy. >> on that note, watch the volatility index. the vix is up 7 or 8% today. there is definitely a spike in uncertainty and nervousness in this market. david: sandy smith with the last word, and michael gerka, thank you both. >> thank you. liz: got to talk about shares of blackberry. they rebounded from 10-month lows after the struggling smartphone maker announced it struck a 7. -- $4.7 billion deal to go private. >> let's break down the deal. we have michael genevese mkm. blackberry shareholder, vick al bony. he. thank you to both of you. michael, who will be the buyer of this?
it appears we're close to a sale point for blackberry some people think it would be a great deal for company like microsoft to acquire all the properties they now have. what do you think? >> what we have is not a deal. we have a letter of intent from fairfax financial which is a mutual fund that already owns 10% of blackberry. i think it has more than just commercial interests here. there is maybe a little bit of a mission to save the canadian tech industry. we have a letter of intent. we don't have a strategic buyer. we don't have a private equity buyer. we don't have any new bidders. i'm concerned about this deal. i feel comfortable with my sell rating and my $7 price target. i think absolutely best-case scenario it gets bought for $9 a share by fairfax. i think this is somewhat of a desperate press release. it indicates there is lack of any real strategic interest. if you recall microsoft recently announced the acquisition is
nokia's devices business. and i think blackberry is really left without a bidder outside of this related party, that made that letter of intent. liz: vick, this is more personal for you. you've been an outspoken shareholder of blackberry agitating for change. seeing the opportunities and value in certain parts of this business. here we are with a 9-dollars a share bid from fairfax financial. we couldn't even get up to $9 on that. how depressed are you? mr. again oaves used word desperate -- genevese. what do you think of the deal and is this the way to go here? >> no. as a matter of fact there is a opportunity for the breakup of the company. there is go shop period for 40, 42 days. that doesn't mean they will generate a higher bid but at very least there is opportunity to do so. this is very, very manufactured sweetheart deal. i agree with michael. that, it is very unfortunate. when you have a financial bidder
you're not paying up. there is 2.5 billion in cash in the company that probably melts after severance of 4500 employees. that probably melts down to about 2 billion. but even at 2 billion, you're paying 2.7 billion which, essentially is the patent values. so you're getting software and service platform for free. from that point of view for shareholders it's a very poor deal. david: michael, is there any intellectual property living intellectual property left in blackberry? that is, i would imagine there's been a huge brain drain of talented workers that have left. i just wonder who is left? >> well i think there has been a bit of a intellectual property bubble recently and i think the value of intellectual property is coming down. so i'm only valuing intellectual property of this company at $1 a share, 500 million. we could have a very healthy debate. i respect vic's difference of
opinion. some people think it is worth more but a company like blackberry really doesn't have revenue stream or royalty stream associated with it. liz: that's not true, michael. this is company three years ago, owned 70, 7, zero percent of market shares of smartphones. its valuation of the market cap was $81 billion. the high in 2008 was $148 a share. you can understand how vick alboini is saying what happened here? it is almost a crime? >> it's sad. it is sad that this has happened but at end of the day this is about what the consumer wants, what the enterprise wants to buy and, you know whether the company's public, whether it's private, whether it ends up being bought by a financial, strategic a private equity or combination, the fundamental problem remains, which is that, first of all, blackberry has lost its cachet. literally in the u.k., in canada, and u.s., you have people reporting that they're embarrassed to be seen by a blackberry, hold on a second. let me push back on that point,
vic. the president of the united states still uses a blackberry. talk about advertising. why haven't they been able, why hasn't blackberry been make anymore of the fact a lot of people like me, like liz, who still have a blackberry on their belt? like the president of the united states? >> as a niche company it has an opportunity to survive. even if they were to sell the hardware business or just trash it because it may not be worth anything, the bottom line is, there are assets that have some value. the software and service platform, you know -- david: no operating system has better safeguards. even apple is using their safeguard system. that's very important, particularly with all the hacking that is going on. >> absolutely. and you know there may be somebody that would just be interested in the hardware business. maybe it is only a dollar a share, $2 a share. could be lenovo. could be somebody like that, somebody not in the u.s. marketplace. lenovo is heavily focused in india and china. number two smartphone seller in
china. could be a great purchase for them if wai were the ceo of the company could make that step. when you aggregate the assets, looking at ash the $4. patents, minimum, $4. that $18. software and service companies go for two times revenue there is no way you would apply that to blackberry especially when you don't know what that settle, that settle number of subscribers is going to be, currently at about 70 million. but it is going to be worth one times revenue. right now they're doing 3 billion a year and createing a billion in revenue. i mean the company is being stolen and not only is it being stolen is that the buyer is getting $3 a share as a breakup fee. so if somebody tops at 15, he gets 18. rest of us get 15. liz: mike, we're still watching this again. there is a due diligence portion of time we have to look through.
we'll bring you both back. mike and vic, thanks, gentlemen. a dawn of a new era. investors can get a whole lot more information about startups there is some serious risks in all this transparency. we have a fox business exclusive with the man who is front and center of the startup scene. crowd funders ceo joining us coming up. liz: the shopping mall nightmare in kenya now continues for a third straight day as kenyan security forces close in on the terrorists. the attack has given global investors the jitters putting money into africa. we're bringing in nigeria's president, goodluck jonathan, about how to address concerns about investing in after frickca. stay tuned. ♪
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liz: the terrorist attack on an upscale mall in kenya has left government officials trying to soften this latest blow to east africa's biggest economy. more than 50 people shot, murdered. the five-story westgate mall is regional commercial hub and symbol of kenya's growing economic fortune. david: how will this attack impact the african economy? will it make twice about western companies doing business in the region? you saw him push the closing bell for the new york stock exchange, nigerian president goodluck jonathan here. president jonathan, thanks for coming in. we have to talk about the awful attack which is still ongoing in kenya. you must be doing something yourself in nigeria to try to change, change your security, for public facilities, based on what happened in kenya, are you not? >> thank you. let me use this unique
opportunity to express my condolences to the president. david: of course. >> for the ugly incident in kenya. of course you know for quite some time we've been looking at situation in nigeria. killing people, through, bombing carelessly. i know what killing and suffering is now a lot of african countries are suffering. the issue of terror is alien to africa. never has been a pattern of our security challenges before. now we're all dealing in our capacity, building our capacity to confront what is terror attack. we're bringing the attacks to reasonable control and definitely we'll eliminate it completely. we'll work together and the terror attack anywhere in the world, terror attack all of us must come together to fight
terror. liz: up deed. >> we all need to fight terror,. liz: sir on this day you still have people and companies interested in investing but surely they give pause, your own company you have general electric committing $2 million to help with the electricity grid in nigeria. talk about how convince foreign ininterests, many come to your country for the oil opportunities that you will do everything it takes to beat down and stop these terrorists, many of them al qaeda-related? >> yes of course. i agree with you. the terror all over the world have their egg linkages, one criminal group link up with the other one. in nigeria we're making sure that we don't allow it to spread even though we're still potential of terror attack that we are pushing to a various parts of the country. in another part of country, even within the districts are there
fringes of the states. it does not affect business in nigeria. if you come to nigeria now it is still number one destination for foreign direct investment and people doing business in nigeria have not. rather they are increasing investment portfolios in the country. so this incidents we're having does not affect the business but definitely as a government muslim nate it completely. david: you know, next to terrorism and threat of terrorism i think corruption is probably single biggest complaint that business people talk about when they come back even, from your own country. in fact lagos, has a reputation as being one of the most difficult places to go to in terms of corruption within the airport itself. even before you get outside in the country. what specifically, what can you point to that you have done to try to alleviate corruption in your nation? >> one thing about the issue of corruption in nigeria, i think a
bit -- talk about the corruption perception index. what studies have shown from the world bann that those who do business in nigeria don't put corruption as number one. first thing they complain about is power infrastructure. next is probably the issue of security and road infrastructure. and access to finance. corruption come in fourth. but, we don't want it to be there. we're showing instances of government to deal with corruption. besides the conventional police that handle corruption related issues we have what we call economic and financial crime commissions and independent corrupt practices commission. all of this has been strengthened to make sure they deal with corruption issues. liz: okay. >> a number of people have been prosecuted and we'll continue to bring it down. if we look where the government is doing within this period,
privatizing program for our powering security and worth over $3 billion. nobody has written issue about corruption. we're, we will succeed of issues in core are upion. issue of corruption in nigeria is really, overexaggerated. >> thanks for joining us from the new york stock exchange. we'll continue to follow the story of direct investment in nigeria. president goodluck jonathan much nigeria. david: coming up, an 80-year ban on publicly soliciting fund-raising is lifted as part of jobs act. will crowd funding be a panacea for startups or does it cut too many corners on reporting to give investors too much after profit? we'll talk to the man at center of all of this, the ceo of crowd funder at the break. liz: from newspaper delivery girl to swimsuit model to business mogul, we go behind the brand of cathy ireland. she is our exclusive guest.
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publicly advertising fund-raising efforts. some say this will be a game-changer for entrepreneurs but are the new rules opening this for fraud and complications. joining us what it means for business and investors is the man that helped create this new market, chance barnett crowd funders ceo. you're in the beltway trying to continues people to do the right thing. there are two strains in washington right now. one strain is protect investors at all costs. you have a new federal agency to do that. the other strain is support job creators ann entrepreneurs. this sort of got caught between the two, didn't it? >> i feel that is unfair characterization in some way. what we're really doing is taking credible companies that already have existing investors in and helping them in the early stage where it is really challenging to find and raise capital and taking companies that already have great investors validate them and helping them along their way. david: but we had on, for example, this has been a great year for ip oz. according to the folks who know they say it will get better.
we had cathy smith on from renaissance and she was saying the problem with crowd funding you just don't have enough financial information. kind of stuff you get when you have an ipo, to give investors a fair shake. how do you respond to that? >> i would say investing in very early seed tank companies is different game than investing in a public stock with 2, 3, 4 years of financial history. so the risks are higher. we know that because of a failure rate. there is difference between fraud and failure. so what crowd funding doesn't do, it doesn't change investing and suddenly make it much, much better t takes what it does and adds in important things like more transparency. this is still a regulated market where people file with the sec and do reporting. it is not like we're doing away with all that. david: it is not regulated in the same way. how is it different from ipos? >> what is momentous, security companies prevented from the
since 1933 from public fund-raising. we saw a generalist on the ban of solicitation. doesn't mean they have no oversight. they're required to file. they have much bigger opportunity to engage the community and bring in potential accredited investors. >> some people point to the early 80s as potentially, if it takes off the way we're hoping it does, we may see a lot of blooming enterprises throughout america. give us some examples, specific examples, real companies that could benefit from this over the next couple months. >> sure, so we have a handful of companies, around 20 right now, we looked at that have lead investors who already validated companies and great experienced investors. we allow our crowd to follow on and invest alongside these experienced -- david: to be clear what crowd founding does, what you do specifically, you vet the companies from high perspective, a 30,000-foot perspective, right? >> we vet the companies. we make sure they're in good standing. we interview the founding team
and have good products and existing investors already in. we have technology startup companies. david: give us example of one or two? >> a great example is the company named inventure. they created an accounting system that happened over sms they grew rapidly and got many people unbanked into the banking world and allowed them to get credit and grow as small business owners. they have a great bunch of investors in the u.s. and really brand name investors. often time general accredited investors don't get the opportunity to invest alongside the great investors. you have the opportunity for people to see and become part of the wealth creation cycle that is early stage. david: i'm geting a wrap, but i have to ask, do you think is the beginning of a new era? will we see thousands of new businesses resulting from this. >> this has the potential to take the existing private markets and to standardize them, to make it much more each and transparent and to create mini
billion dollar market thht people didn't have access to before. david: chance barnett, crowd funder ceo. congratulations you played a big part getting this passed. >> thank you. david: thanks for coming in. david? liz? liz: david, she went from supermodel to super mogul making powerful friend along the way. we're talking about kathy ireland. she has 15,000 products under her brand name. she joins us what is coming up next for her. you might call netflix the barbarians at the gate of big media. how the streaming service crashed the emmy's party last night. making news in la-la land. stay tuned. ♪ thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history.
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he came from citigroup enterprise i payment systems. he was there for a while. now he will head up veriphone, which is a payment system. of course they haven't had a ceo since doug bergeron left a couple months ago. the annual high for this stock is $36. trading at 23 in the after-market session, but the low $15. new ceo at the top of veriphone. from "sports illustrated" swim suit model to building a 2 billion-dollar brand all on her own but with a great team i'm sure, kathy ireland, who doesn't know her from "sports illustrated." she is looking to expand her reach even further. joining us for a fox business exclusive is the brilliant business mind, kathy ireland, worldwide and ceo and chief designer. our story fascinated me. i look at you on "sports illustrated" pages, white ruffled bikini bottom.
>> oh, my gosh. david: you could have gone the way of so many supermodels and aged and kicked off the pages. instead you started this gigantic company over past many years. it has been a work in progress. you have got some new products come out including a skip care line, how is going. >> thank you, liz, thank you so much. it is going wonderfully. we're so fortunate and blessed, yes, it is a lot of hard work and yes i work with an amazing team and the skin care, back in the days when i was modeling more than 25 years ago, sin scare is where i was trying and meeting with chemists just didn't quite find the right formulation. something as intimate what goes on our face it is critically important. so i'm working with a wonderful team at stimage, on a collaboration with leading researchers, surgeon dr. david sharp and it utilizes, it is derived from stem zest. there is a lot of controversy
with stem cells. this is adult stem cells. what is excited about it is the process that kicks into our own collagen making process. david: there are words in titles of the making of some products is nano. sound very exciting. i was interested finding out that you had skin problems going up. >> liz, you have gorgeous skin. i grew up on beaches of california. liz: kathy ireland says i have gorgeous skin. >> gorgeous. i fried my skin growing up. also i had a horrible face plant. sensible adventure outweighs sense of grace. goofing around on our son's wagon, face plant, smashed it up. to work with a product that makes a difference. liz: i find back to your story of being an entrepreneur. just amazing you have a 2 billion-dollar brand, everything from carpets to furniture yet you are very involved with stamping, making sure your name isn't stamped on anything that you haven't personally looked at and approved of. you know, as a ceo, as a me gull
your seven, how difficult is that become as you now have 15,000 products? >> it's a wonderful challenge that i thrive on. it's exciting to be here in new york. it's home fashion week and working with great partners who understand and embrace the way we work. i'm accused of being a control freak. i prefer to it as passionate. i care about what we do. it has to be right at every level, from the conception of the design to the marketing to the distribution. how people are treated, all of it, has got there. we're working with some incredible partners including the team at mureson and lowe and home of raymond flanagan. liz: this is couple decades now. so you're not, oh, i just decided i will start a skin care line. so as you have grown in this role, you were at warren buffett's annual shareholder meeting. >> with you. liz: with me. you threw a paper better than i
did. you had a newspaper route growing up. work ethic, look at this, you guys? can you kill her? better than bill gates. better than me. better than buffett. >> i don't know about mr. buffett. he has a pretty good arm. liz: he really does. liz: issue of hard work, times get rough. were there stumbling blocks when it came to your biz? >> it continues. it never ends. i'm inspired by what some people refer to as challenges. i see them as opportunities. you worked as a child as well, and what a great opportunity a learning experience, with a paper route, my dad always said, give 110%. if the customer expects the newspaper on the drive way, put it on the front porch. that was my foundation learning to underpromise, overdeliver many, many years later. i'm still the girl with the paper route. liz: under promise, overdeliver, everybody take the message and deliver. >> thank you, liz. thank you. liz: could have taken a
different route. turned down a role on "baywatch", david? david: i think -- liz: billionaire now. david: netflix, is a streaming video service that has got everyone talking, not just on wall street, but also at the emmys. does it hold the winning cards in the fight with big media. we'll get into netflix coming next. ♪ she loves a lot of the same things you do. it's what you love about her. 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 ed tablet approved to treat ed and symptoms obph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis.
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liz: when you talk about winners for the emmys, cbs was a huge winner on the emmys last night. viewership drew 17.6, up 33% from last year. the biggest emmy audience since 2005. david: dennis kneale joining us now with more on the other winners. i was watching "boardwalk empire." so i missed the whole thing, dennis. >> yes you did. first time an emmy in major category went to online rival to networks, netflix. "house of cards" winning emmy for best director. as well-regarded david fincher, "house of cards" was nominated in far better category, outstanding drama and it lost. the winner, "breaking bad" on amc, owes some buzz to binge
viewing on netflix. netflix kind of a winner there too. let's not overdo it. the biggest winners of the emmys bagged vastly more awards than netflix did. hbo won the most, 24 emmys. cbs is number two at 16. nbc had 11. show time at 7. netflix had three as did other networks. hilarious campy, "behind the candelabra", heavy on michael douglas making out furiously with matt damon. netflix lost in big categories everyone cares about, best reed drama, best lead actor, best lead. two emmys forecasting and cinematography. still as journalists like to say, the best director, could mark a coming of age for netflix. it moved way beyond the core competency and dvds and films and episodes streaming over
internet and managed to produce a show breakthrough and buzz worthy. netflix won praise for reviving a "arrested development" and new lesbians in prison drama, "orange is the new black." recent survey by nielsen found 45% of the netflix subscribers watch the new original programing. netflix wants to be the next hbo but the more original programming it tries to produce the more flops it will turn out. netflix might want to be careful out there, liz and dave. it e it gets expensive. david: i didn't know "breaking bad" was on netflix. >> from amc. liz: you think there were so many viewers last night because of "breaking bad"? it is such a huge show? >> there is certain sendoff in the hollywood and larger nation, sure. david: i have to watch it. dennis, thank you very much. liz: thank you, dennis. david: one of wall street's biggest names just tied the knot. you know the name. tell you the name right afterwards. you know who this is?
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dow around 1200 points, gold 412 per ounce. gold now at 1327 per ounce. david: the number one thing to watch tomorrow is the case-shiller index. liz: "money" is next. melissa: here's what is "money" tonight. how much are you willing to pay to keep the post office alive? emergency jump in the cost of rates could be imminent. the postmaster general joins us on what it will take to stamp out bankruptcy. plus hedge fund commercials and retail apps? would it make you more apt to invest? the first ever after an 80 year pan and. and a created campaign he made for us to show us how to make it rain. and now they are laughing all the way to the b