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tv   Varney Company  FOX Business  December 2, 2013 9:20am-11:01am EST

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mother's ear, i love that gambling man♪ ♪ love that gamble man, love that gambling man♪ ♪ imus in the morning >> talk about setting a world on fire, amazon's jeff bezos did exactly that. good morning, everyone, drones for amazon deliveries? yes, bezos staking his claims to be the next steve jobs with at that futuristic vision, the stock on fire yet again. the drone has help and so does the blowout retailers on-line. this monday morning stocks are poised to go up yet again and we have a story about an airline passenger war, fought
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using tweets, it does not end well. can't wait? don't worry, "varney & company" is about to begin.
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>> headline of the day, on-line shopping, king. bricks and mortar stores in retreat. that's the take away from the five-day holiday shopping weekend. while overall spending wag was down for the first time in seven years, half the people bought it on-line. the national retail federation say sales accounted for 44% in total sales. and you'd rather shop from your couch than in the stores, apparently. and another 131 million people expected to shop on-line today. so-called cyber monday. there's the take away for the weekend. overall sales down in seven years, on-line exploding. now this, the white house says the website is
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fixed, or is it? and the president is playing up the front end of the website. that's the front end, but the back end providing information for insurers far from ready for prime time. this from the wall street journal today. this weekend miracle defies other evidence such as the recent admission by an hhs official that 30 to 40% of the exchanges are still unfinished. that's the back end, not done yet. bottom line, you might be able to log on more easily, but pricing and paying for a plan, not running well. and who knows where your information is going? all of this talk of the website being fully operational could be the president's mission accomplished moment. maybe he'll try that. the markets keep hitting records and here comes the bubble talk. nobel prize winner is the latest to talk about a correction. who could that be? now, did you catch this from saturday's espn's popular college game day football tv show? a kid holds up this sign saying
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"hi, mom, send bitcoin" the sign includes an image that referenced the code of his on-line bitcoin account. it went viral. the result of that, the college student raised more than $24,000 through on-line donations. amazing. [ male announcer ] once, there was a man whoound a magic seashell. it told him what was happening on the tradg floor in real time. ♪ the shell brought him great fame. ♪ but then, one day, he noticed that everybody could have a magic seashel [ indistinct talking ] [ male announcer ] right there in their trading platform. ♪ [ indistinct talking continues ] [ male announcer ] so the magic shell went back to being get live squawks right in your trading platform with think or swim from td ameritrade.
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>> how to stop this. >> hang on. >> i like fast. >> whoa, whoa, get your feet down, this is fresh lacquer, seriously, were you raised in a barn? >> that's a clip from disney's "frozen." a big hit at the box office. 93 million over five days and hunger games brought in another, repeat another $110 million and looking at the return. blockbuster maybe those two movies certainly qualify. a minute from the bell, here is chicago's larry levin. okay, it was the nobel prize winning economist robert shiller had the bubble talk, a pretty good source and talking bubble in the stock market and any bubble talk down there? >> i don't think so too much, stuart. these are professional traders and your viewers could probably take a lesson from them. whether there's a bubble or isn't a bubble the market has potential for correction.
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if that's the ka is case you've got to protect your position. and regardless if there's a bubble you've got to protect. when the bubble happens they're not prepared and that's the number one thing to think about. stuart: good advice, larry, thanks, indeed. . [bell ringing] we're about to open or we have opened and the dow is going up a little more in the early going. the opening trend should be just a little bit higher following all the gains that we've seen in recent weeks. headline, on-line shopping rules, got it. and even as you spent less over the thanksgiving weekend, you did, but on-line sales rose 17%, about half the people who shopped over the long holiday weekend bought something on-line. and amazon and ebay, the two big winners. look at amazon, we're going to watch that thing and see if it hits $400 today. it's up another $4 as of this morning and a big percentage gain for ebay. another on-line player. want to check for a couple of traditional bricks and mortar stores and they also have a big
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on-line presence. nicole come in and tell me about wal-mart and target. >> both of which have good sites to shop on-line as well and target is unchanged and wal-mart is slightly to the down side. it's interesting that over the thanksgiving to this sunday you saw that 3% drop, right, in the amount spent year over year, but when i was talking about jason weiss burg of seaport security. he said, come on, nicole, every day of the week is some sort of sale, you have polka dots wednesday and you'll have cyber monday. the consumers are out there. the trend remains to the upside and they're just showing resiliency and not to worry too much about the one number. stuart: all right. we hear that, but i want to bring in former reagan economist art laffer, you know, art, this is a hard number here. sales overall down between 2 and 3% over a big holiday shopping period, down 2 or 3%. and first drop in seven years.
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what does that tell you about the state of the economy? >> well, that's not very good news, stuart, but really, really is important here is not 1 percentage this week or last week, what really happens is economic policies. we could get this economy growing enormously if we put in good policies. a low rate flat tax, spending restraint. you know the drill. it's all there. and that, this is all a consequence of very bad economic policies by this administration and congress, especially the senate and they've put through a lot of tax increases this year and you're seeing the consequences of it. look at what obamacare has been doing, it's liighths catastrophe and why would you expect something really good to be coming out of this mess? i wouldn't. >> i think we've had this conversation before. >> yeah, we have. >> unfortunately. are we going to have it again in a couple of minutes? because i question whether you're going to get any change in economic policy in the next three years, i don't think you are, but i'll come back to you on that one in a second, okay? >> it's a deal. stuart: i want to move on to amazon's chief jeff bezos on 60
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minutes. he showed off a flight of amazon experimental delivery drones. yes, drones to deliver packages. keith fitzgerald is with us, keith, he's looking like the new steve jobs and amazon is behaving like apple. >> he's defining innovation and putting together a connection that the rest of us haven't seen and he's one of the few people on the planet with the wherewithal to bring it into fruition and i'm excited as heck about this. stuart: what about the stock? it's approaching $400 a share. i don't think you like it at that level, do you, keith? >> well, that to me is a different question. yes, i think that amazon is expensive and the pe ratio is totally out of line with expectations. here is the thing. if your a truly going to innovate and you've got that much control, at some point it becomes google-like or apple-like and maybe we're on that transition right now. >> we've opened up on this
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monday morning and i believe we've opened higher, yes, we have and check that big board. i'm sorry, we're down 11 points, just above 16,000. and nobel economist robert shiller, he used the word bubble. that's what he said. keith, are you worried about that? >> i am. the classic definition of a bubble, when you've got investor detachment and fundamental reality and i think that's going onment we're seeing earnings and it's erupting three and a half times what the consumer spends. from that point, yes, i am. from the investor standpoint i've got my trailing stocks in there and looking for companies with solid earnings and companies that have got big markets no matter what washington has up its sleeve. what is your comment on the bubble talk about the stock market? is it a bubble, art? >> i don't think so. i think is that the stock
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market is going to be really good the next several years basically because i think that policies are going to change, stuart, but profits are very high right now. i mean, the real problem, we don't have the economy wanting to invest and grow into the future because of that bad economic policies, and why would you invest your money if you don't think you can get a good return on it? look what the returns are, they're just ridiculously bad. stuart: we're back to that argument. do you really think that economic policy is going to reverse course and change the next three years? >> i think it's going to be huge, stuart. won't be the next two years, what i think of 2014 will be a year of decisions. if the republicans can take the senate and keep the house and increase their control of the house, i think we've got some major changes that will be very, very positive going forward. you know, if they don't take the senate-- >> look it, you've got to have the president of the united states sign off on tax cuts for individuals and corporations. >> that's true. stuart: i just don't think he's going to do it. >> i think you're wrong. if they got the house and
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senate together, i think they could put enough pressure on the president to have him go along with major tax-- true he's not going along for everything for sure, but then we have an election in 2016 which we'll get a new president and i think whether it's a democrat or a republican you'll find the new president far more amenable to good economic policies than obama and his administration has been. i mean, you could get another clinton-like democrat in there or you could get a reagan republican in there. and you would have a boom that you couldn't imagine how wonderful it's going to be. and that's why i'm really bullish about the stock market. i think the stock market looks at what will be, stuart, not what has been. and when you look to the future, i am very optimistic about change in america. i mean, just look at what's happened with obamacare. i mean, who-- you know it has to collapse, you know it's just built on unsound theory and unsound data, but seeing is actually collapsing before our very eyes is very, very fulfilling and not in the sense that we want it to collapse, but that we know the silly give away themes
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don't work. stuart: we hear you, i think you're putting a smile on a lot of our viewers' faces. >> thank you very much. stuart: i'm going to break away for a second and get back to obamacare in a moment. >> okay. stuart: google, it says that uggs were the most searched for fashion item over this holiday weekend. and by the way, i saw a line literally out the door at a uggs store at a retail mall. that was yesterday. so, and the decker is the parent company. >> looks like they're going to be hot, hot, hot for the season and they vamp them up every season and now they have diamonds and bows and buttons and everybody wants them. old u. ggs are out, kidding, but makes a great holiday gift. up 1.2% and a new high for dekkers, the parent, 84.39 and the other thing worth noting, they make the sandals that you love so much. stuart: i did not know that,
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but i took a picture of the line out the door of the retail place. real fast, nicole, groupon downgraded by goldman sachs. what's the stock doing. >> for one second i thought you were going to say you took a picture of your foot in the sandal. regrouping here, groupon, 76% this year, a winning day, and down 5 1/2% right now and the price target-- >> thanks indeed. a spin by the white house, they say that is basically fixed. the new york times reports that insurers are still not getting the information they need to price a policy. art, you still think this thing is going to collapse? >> oh, yeah, i do. i mean, it's just built on unsound foundations and stuart, just imagine we're at the end of 1977, you've got jimmy carter's national energy planning crumbling before our very eyes, and that's where we
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are, only it's obamacare and not national energy. all of that future to look to in 1978 we passed the capital gains tax cuts and paul volcker as head of the fed and proposition 13 in california. the beginning of a new era, really wasn't the end of 1977, just like it is now. stuart: all right. we shall see. you played a rollback then. maybe you're going to play a role this time around. >> i'm getting really old. stuart: no, you're not. and obamacare, last word to you, keith? >> well, you know, i tell you what, the same people that think amtrak and post office are viable businesses and i've got my doubts. my insurance premiums are going up 41% and policies are not. it's my wallet i've got to pay my employees with. this is a tough one. stuart: i'm sure it is. keith fitzgerald, art laffer many thanks today. >> it's a big theme today, on-line shopping, making up
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much of the sales over the weekend and what does our retail vigilante say after the break. ♪ i'll be home for christmas ♪ you can plan on me (announcer) scottrade knows our clients trade and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) ranked highest in investor satisfaction with self-directed services by j.d. power and associates.
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>> well, coming out of the holiday weekend, one of the big themes is the triumph on-line sales. well, now listen to this from the supreme court. it will not hear the case involving on-line sales taxes. that means new york state, which requires retailers to collect state taxes for on-line sales require that they do that, that tax stays in place. the tax was challenged by amazon and overstock, the tax
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stays in place at the state level. to the big board, where are we this monday morning? we were going to go up and wrong, down 31 points as of now. as for the price of gold this monday morning, we're down there, too, off $16 an ounce, back to 1234. according to the national retail federation, on-line sales accounted for 44% of total black friday retail sales and shoppers avoided the parking lots and long lines and according to our next guest, the disastrous state of the sales. and two people got it wrong, bricks and mortar. number one is gap, what did they do wrong? >> gap is looking like a winner, old your horses, this is a company cut that numbers to make an earnings. and yes, you have to make basically the stores messy, large piles of clothes, banana republic, gap, old navy,
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instant markdowns. stuart: the stock is up 2 1/2% despite what you're saying about the state of the stores. >> nobody people were talking about the stores were in disarray and didn't have enough employees and you're supposed to put your best foot forward. stuart: if i'm getting a bargain do i care that the store is in disarray as long as i get the item at a lower price. >> they should care, you need. stuart: you're a moralist. >> you need good customer experience and retail, if they want to sell full price, you need a customer experience and product that people want. stuart: you made your point. dollar tree is your second bricks and mortar troublemaker. >> this one fires me off. we grew up going to dollar stores by no circumstance that we found that dollar store should look like dirty rugs and oem open containers. when i see open trash bags on the floor, people have come to a point where they're opening up boxes in dollar stores and
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potentially shoplifting them. and dollar tree, even family dollar, they need to make the margin everywhere. stuart: strong stuff, mr mr. sozzi. >> we're not here with weak stuff on "varney & company." stuart: no, no, you're going after them. if you look at the stores you've brought us which have had disarray on the shop floor. are you saying that's one of the reasons why on-line shopping is exploding, and exploding it is? >> absolutely. well, figure it this way. where are you getting a better shopping experience? in the gap or the stores. look at the picture. you can find what you want on-line on bigger tablet sizes and better app experience and the retailers know in a creepy way what you're buying all year. you get a better experience than what you used to have a couple of years ago. stuart: and do you think we could reach the point where some big names bricks and mortar retailers will be out because on-line is so strong. >> as we profiled in sears and kmart, some of the emptyiest on
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black friday shows you because of what the stores look like. you can get a better experience at target and wal-mart than going and surviving a kmart shopping experience. stuart: have you got any example of discount stores and i use that in the broadest possible way, which are in good shape, where the store is very well-organized and the merchandise is on display and looks great. theres' lots of it? >> i will share a little positivity. it's going to be target. target stores, neat, organized, bright, and importantly, doing phenomenal things on-line and recently put out an app, cartwheel. a grrat shopping experience on-line and in the store and target wins creating an eco system of things that look well. stuart: if i got that app it's easy to shop it? when i think of on-line i think amazon because they're so good and easy. >> they are. stuart: and so good, got it. are you saying that target's app for on-line sales through target is just as good? >> it's not necessarily as good as amazon, but they've come a
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long way, they keep your list, know what you want and send you specific promotions and it's free to download. stuart: and target's down a little bit today and i suspect it's down because overall spending was down over the long holiday weekend. >> price comparison. target, wal-mart, amazon they all have been price matching each other and that's why the stocks are getting hit. why? what we saw in the mall, i'm not surprised by the numbers today. consumers navigated the basic apparel section and didn't gravitate to the higher parts. >> brian sozzi, the retail vigilante, go get em. and my take, a fascinating story that went viral this weekend, air travel, twitter and why all of your behavior is now public. back in a moment. ♪ joy to the world
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>> look at this everyone, ebay
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up 4% and one of the biggest -pleaders in the s&p 500 up 4%. ebay, on-line shopping, look at it go. j.c. penney the biggest loser in the s&p 500, got some bad headlines over the weekend, down another 3%. new at 10, i'll taking you on a tour of the american girl doll store in midtown manhattan selling experiences with young girls for their moms and i saw it and i'm going to take you there. great stuff. a lot of the stories you're talking about, amazon, drone delivery. could it be that judge nap t tan-- napitano would support new rules for the drone deliveries? i can't believe it, but we'll ask him. all right, everybody, here is my take on a fascinating story that mixes travel, technology, and standards of personal behavior. this story emerged on twitter, that in itself is a sign of our times. it's thanksgiving day, a flight delay. a woman is giving the gate
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agency and everybody else a hard time because she wants to be with her family. not hanging around an airport. she's obnoxious. another passenger tweets out the story as it progresses. the woman gets on board she is fuming. the flight attendant tries to placate her, not working. the guy sends out tweets, he can hear her breathing five rows back and he's the guy tweeting out the story and sends her a glass of wine, and says if she drinks it she will able to use her mouth. and it's war. she sends back her own note. i'm sorry their family, they have to deal with you. he responds with another note, this time it's obscene, please don't show it and tweets out a description of her. it's a real fight. played out via twitter to an ever larger audience as the wordz words picks up and the
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war on in the air. and the plane lands and she slaps his face. he refuses to call the police and another note her behavior and likely identity have been tweeted around the world and that's as far as the story goes so far. lesson to be learned, all behavior is now public and that works both ways, yes. lose your cool and the world may know about it, but if you're the one who exposes bad behavior, are you libel in some way? can it come back to haunt you? go to our facebook page and follow the story in full as it happened. if every u.s. home replaced one light bulb with a compact fluorescent bulb, the energy saved could light how many homes? 1 million? 2 million? 3 million? the answer is.. 3 million homes. by 2030, investments in energefficiency could help americans save $300 billion each year.
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>> what a day this is. on-line explodes and amazon's jeff bezos stakes his claim to be the next steve jobs. and his idea to deliver packages to -- by drone. and i'll ask you the question, here comes a fast food strike and they demand $15 an hour. juan williams is here on that and so, too, is charles payne. and i visit american girl. you want to see smiling faces? stay right there. ♪
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131 million people expected to shop on-line today alone and over the weekend, nearly half of all those who did spend money did so on-line. look at this. and the national retail federation says on-line sales account for 44% of total sales over the weekend and on-line shopping, i'm saying it's king. bricks and mortar, i think in retreat. overall spending, an important economic indicator, overall spending down over the long holiday weekend the first time in seven years, look at the impact on-- well, amazon is now down a little. it had been up 4 or 5 bucks, very close to $400 a share. ebay, very much an on-line retailer, on-line company, and up 4%. that's a huge gain for a company of that size. it's up $2, 4% that is. and we've got, let's see we've got amazon on everybody's-- look, the story about amazon is
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two fold here. number one, they're buzzing over the chief, jeff bezos could be the next steve jobs and of course, we have this enormous explosion in on-line sales over the past weekend. and so, charles, first to you. is jeff bezos the next steve jobs? >> i think's he in the running, i think between he and elon musk, they're the visionaries used to be called robber barons, but changed people's lives for the better. i love the idea where they're going and trying to be creative. it's a natural path where we are, we have the drones and we have the technology and it's hard to imagine one day we won't have it that way. samantha worthy is with us. correct? you're young and along comes jeff bezos and talks about drone delivery. it seems to me that this very much fits the pattern of today, i want it, i want it now, i want it personalized and i want it delivered to me personally and i want technology to do it
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for me? >> right, and steve jobs famously said that sometimes consumers don't eastbound know what they want until you show it to them and i think this is kind of a natural progression of that. we have survived thousands of years without drones arriving at our doorstep and here maybe in the next five years or maybe, 10, 15 years that might be normal for us. stuart: you think so? maybe you want that, but do you think that's what's going to happen? i don't know, i'm not taking a side on this. >> right. and i think that's the debate, too, amazon is such a leader in the space. i mean, they came out with the kindle before the ipad and they've done a lot of revolutionary things and not just evolutionary things. so i think that if a company were to do that, i think that amazon has bezos at the helm and i think they know what they're doing and depends whether or not consumers adopt to this sort of thing. stuart: it's just astonishing big splash of a story, everybody is talking about it.
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charles: and people that were bearish on amazon, they won't have a profit, but the fleet of drones was-- >> they're thinking of delivering packages five pounds or less. charles: 98% of what they deliver already. stuart: it's experimental and not going to happen for four or five years. charles: and that was optimistic. and the f.a.a. to approve. stuart: they said it sunday night the day before cyber monday and on a watched program and brilliant marketer. >> everyone went to twitter and sharing their reactions and then there were parody accounts that kind of came out of that, too. and i think that's unlike anything that we've experienced before and really heard about becoming the mainstream and we've heard about the jetsons and the hyperloop and things coming out.
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there's some hard backstairs, they want is by 2015 and seems close. stuart: we've got a couple of tweets. can we put them on the air. right after bezos revealed this on 60 minutes as you said the twitter world lights up. and joanna tweeted, could really use an amazon drone to bring me some soy sauce right now. okay. all right. and then there's one, will i have to give a holiday tip to the drone that delivers my washington post? and i mean, that's all sun and games and stuff, but shows you how social networking picked up on this. >> exactly. >> and a huge buzz created by this outlandish idea expressed boo i jeff bezos. >> i think it prevents interesting questions, too, why would you need something like this if you run out of shampoo, are you going to use something like this? it's probably more, you know, if it's your wife's birthday and you forget something and you need it in an hour. >> good one. >> something like that. charles: people will if they
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can, if they can afford it i think that people would order soy sauce, i mean, i hate to say it, but i think americans we're getting so lazy. if it was available and i could just get on twitter and say, listen, amazon i need some soy sauce and whatever. >> right. charles: and they could get here in five minutes, people would do ii. stuart: before we leave you, samantha. you've got a list of tech winners and losers from 2013. i'm not going through the whole thing, but i've seen it. on the list of losers is samsung. y you want to tell me why samsung is a loser? >> they have a huge market share and they're doing a lot of great things. however, this year, they introduced the galaxy smart watch, which was sort of a first of its kind, smart watch that connects to your phone and things with apps and you can take phone calls and it's really innovative, but apple, for example, they've been sort of in the works with this for a while and they haven't released it yet and they kind of take a step back and make sure it's perfect and samsung releases
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that into the world and it isn't market ready yet. there's lots of kinks notifications for the work and it's a little clunky and they said themselves they're bringing in people-- >> is that across the board. the first mover doesn't have the advantage anymore? >> i think, again, like the kindle was popular out of the gate, but i think, you know, at that takes a lot of risk to kind of put yourself out there first and then the consumers kind of tweak it and learn a lot from it, but if there's a big challenge there. stuart: i've got one more for you in the story. and microsoft is being accused of sending a sexist letter advertising the xbox one. i'm going to quote for you directly. hey, honey, not sure if you've heard, but xbox one is available. it goes on to say, i know, i know, you'd rather knit than watch me play on this hear me out on this xbox is actually for both of us. from a guy to a lady, i think,
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and do you think it's sexist? >> they expected it to be cute and tongue in cheek. condescending in there a lady would like knitting and mobile gaming is 50-50 between men and women. and also, i think it's interesting because i think microsoft kind of is missing the mark here that they're not really in touch with the fact that, hey, women are gamers, too, and they're playing almost the same. stuart: not in the same proportion? >> depends how you look at it. traditionally men, especially with consoles maybe, but again, a lot. because of mobile gaming, female gaming is significant. stuart: okay, okay, all right. microsoft stock, which i own, is up again today. and samantha murphy. appreciate you being with us. thank you. check the big board. nobel economist robert shiller says beware the bubble. charles, he's a nobel winning economist and known fis
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real estate report. he says that the stock market is in bubble territory. charles: the dow is up in years, and it's the interesting thing, i'm not yet sounding the alarm. of course you're not. if it crashes tomorrow, you told us. if it crashes a year from now, you told us. welcome to the doom and gloom club. the economy is weak and vulnerable. i've said the most vulnerable part of the -- this is fiscal policies and monetary policy is not helping either. and u.s. needs a leadership role. stuart: sandra smith in chicago. >> it's monday. stuart: yes, any bubble talk in chicago, sandra? >> yeah, of course it's been around and charles is saying accurately. if you're going to to get a handful of big economists and money managers who are going to call it.
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it's a distinction, with what robert schiller is saying here. he's not calling this a bubble. he's saying it looks like a bubble. if it is a bubble it could end very, very badly as far as financials and the technology and stuart-- [inaudible] >> look at that, live television and we just froze right there. and i think she was about to make an important point, too, let's see if we can get back to her. you want to round out her thought? >> no, i know those are more short-term traders and obviously the more you go up, the more anxiety there is, and no doubt about that. the parallels made to the more infamous bubbles that people lived through aren't there yet. we haven't had any real correction. >> that takes up 34%, that's not a bubble, but that's a big rally. all right, i've got two big retail names and you know them. j.c. penney to start with, i think it's down again, nicole.
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nicole: 3%, where is the turn around everybody is waiting for? this stock is down 50% this year, the number one loser in the s&p 500. right now, i'm just going to say it, loser. stuart: and we're going to downgrade for urban outfitters, is that-- that's another loser? >> urban outfitters and don't forget they have anthropology and three people. and the analysts actually think that those two are fine. it's the urban outfitters story overall and they have a clearance section, you know what? they're getting miscues on what they should be selling and why should they have such a big clearance section? while people may be buying that, it made them worried for 2014 and one other point and this is a lululemon story so i can't miss it, right? janney capital switched out urban outfitters for lululemon on the best ideas list. >> okay. and let's not forget lululemon. >> you know i love lulu.
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stuart: i know you do. the dow is down 28 points and we're in business this monday morning for 41 minutes and we're down and the theme of the day is the on-line selling. fast food workers across the country are planning strikes? 1 is -- 100 cities. they're demanding 15.15 an hour. is this the new american way? reminds us of this. >> lousy teachers trying to palm off our kids on us. >> and they're management and so they can be happier and more productive. >> lisa if you don't like your job, you doesn't strike. you just go in every day and do it really half bad. that's the american way. so ally bank has a raise your rate cd
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that wothat's correct.a rate. cause i'm really nervous about getting trapped. why's that? uh, mark? go get help! i have my reasons. look, you don't have to feel trapped with our raise your rate cd. if our rate on this cd goes up, yours can too. oh that sounds nice. don't feel trapped with the ally raise your rate cd. ally bank. your money needs an ally.
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>> paul walker, star of the france franchise "fast and the furious" they were working on the 7th installment. they'll suspend the production of that film. could be a problem for sony. brought in 788 million
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worldwide at the box office. and charles is going to make us money right now and where the company i know and love, cabelas. sporting goods store and they're a tourist destination in pennsylvania, you know that? >> in a lot of places it's the center of town. they got an upgrade, and we were already in the stock and one of the retailers that hadn't been doing well in part because of the comparisons are tough. the gun boom and they're guessing when it's going to stop. they've got a new format making them bigger. stuart: bigger? >> giant footprints. the 14 largest stores outperformed the legacy stores by 50% in sales and 60% in profits per square foot and these cabelas wherever you are they're going to get larger and larger and more things and more than a gun story and i think this stock has a lot of room to the upside. north 66 and huge resistance point looking for 80.
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stuart: the one in pennsylvania has a restaurant and 200 people. charles: got to go eat your grub before you go out. stuart: you spend the day there and you like it. thanks so much, charles. fast food workers planning a one-day strike this thursday in 100 cities across the country and asking for a $15 per hour minimum wage and let's bring in fox news political analyst juan williams. welcome back to the program and good to see you this monday morning. >> good morning, stuart. >> i know you're going to i have go us the emotional side of the story and people need $15 per hour to live on. and they're starving without it. i've got that. i want to ask you about the economics of it. do you think that if they get $15 an hour to work in a fast food operation, do you think they'll be more jobs in an operation or less? >> less. stuart: oh, okay. so do you still approve of $15 per hour when it's going to cut jobs? >> i don't know exactly how many jobs it would cut so the question becomes, is it a
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matter of a substantial cut to the work force or even driving people into part-time work? most are part-time workers, and people at the lower end. what you hear from the national restaurant association and others are most the people who get the minimum wage which is now 7.25 are actually young people who are in the part-time jobs. so, if you really are talking about people who are, i believe, average age 29 and you know, working class people, i don't know exactly how many of those jobs would be cut, stuart and that's where the rubber meets the road in terms of making an economic decision. stuart: do you think that someone fresh out of high school that didn't get a diploma that didn't have any basic skills. do you think that they deserve $15 an ounce, a legislated wage. do you think that's the way we should be doing it? i'm asking you to make a judgment here, juan. >> i think you're on the wrong side here, stuart. if you're making a moral judgment, there's an economic
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quotient there, i suppose. what we're talking about a hardball economics and public opinionment we have a struggling middle class even if it's a publicity stunt, this one-day strike, it's going to strike a nerve with people in terms of hey, you know, i feel anxious about the economy, too, and i couldn't live off 7.25 an hour, but if you're talking about what you say is a moral component, i don't know how to put a measure on that, stuart. stuart: charles? >> you know, juan, it's just one of these things where there are so many problems with this, a, in a free country, in a free market, telling an industry what they must pay someone. b, you know, knowing that those prices, you spoke about the people who feel sympathy. they may feel sympathy, but when their dollar meal is $2.50 meal, they start to lose sympathy. if you look across the board. the numbers have gotten to where they are because of the markets. >> no, i don't-- look, the market's been driven
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down. one. most upsetting stories i heard recently where wal-mart employees had a thing out there for food donations and it was food donations for people who work at the store, not for poor people. and i was like how is that possible? so i think, you know, just, i was saying to, you know, stuart a moment ago, charles that there's so much anxiety about economic issues, spending, consumer confidence, it's going to hit a nerve, but i think that stuart made a point, is it going to have fewer jobs? yeah, if employers have to pay more, there are going to be fewer jobs, you can't deny that. charles: fewer jobs and higher prices for the consumers. >> you know what? actually if they raise it just a little bit. if they raise it not to 15, but to 12, so-called livable wage, it drives up the prices of the big mac by 17. >> the wal-mart average is 12, but that doesn't get reported. >> it is, i get it, depends who you are in the store and wal-mart has the ads about people who are going to be advanced and move up and the new president of wal-mart
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actually started as a stock boy, but you, know, the fact is, they're low wages paid to their workers. stuart: juan, this is the first time i can remember when you're not gung-ho for this kind of policy. and you're not. >> oh. stuart: you're not gung-ho for this? you seem to be-- >> look, i've read milton friedman, you know? i understand the economics of it. but i must say, i just think that when you-- you talked about a person who doesn't have a high school diploma or whatever, but stuart, if they are doing their job and they are serving the needs of their employer and the consumer, why shouldn't they be rewarded? >> well, i just want to see the day come when we go for growth as opposed to redistribution. you give me growth. because that will raise everybody and the policies of this current administration do not produce growth. that's why-- >> why did i guess how this was going to end up as a smash and grab against obama?
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[laughter]. stuart: a smash and grab, juan? it's monday morning, you know. [laughter] >> it's the holiday season and i'm going to play those violins for the poor. that's what you were saying. stuart: last word, that's it. juan, thank you very much. happy holiday to one and all, got it? call it the weekend miracle, the obama administration saying that the exchange website is up and running, it's fixed all systems go. oh, not so fast, this is the political spin machine firing on all sip -- cylinders, we'll bring that to you after the break. ♪ grandma got run over by a reindeer walking home from our house christmas eve♪ ♪ you can say there's no such thing as santa, but as for me and grandma, we believe♪ hi honey, did you get e toaster cozy?
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stuart: it is the busiest day for fedex and the stock is up again, $1.50, $140 per share. microsoft, there is another stock just hit another new high. i do own some of this. because of the xbox one had a big impact.
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and the white house says the obamacare website is up and running. mission accomplished, or is it? the front end of the website, the back end is a partner provides information to insurers unfinished and a bit of a mess. charles: you signed up, you might feel good and covered, but the insurance company did not get your information. a lot of it is duplicates, a lot of it is inaccurate. complete and utter shambles behind the scenes. stuart: if you want insurance january 1, you have to sign up by december 23. that means from the second of december you have three weeks to actually accomplish signing up and getting everything straight. i don't think you can do that. charles: they tried to make the
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front and shiny and sparkling, i guess we cannot celebrate taking 50,000 people at a time but still unmitigated. stuart: it seems the spin machine is working overtime on the front end it is fixed, but the reality is the back end is not. charles: they said there are vast improvements. the "washington post." stuart: how did you hear about the wild finish in the auburn-alabama game? it is a good chance you saw on social media. the field goal was short and return for historic touchdown. a lot of people found out on twitter or facebook. charles, my 17-year-old daughter told me about this as it was happening because she was watching the twitter feeds. charles: i watched it.
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you want to talk about a shift in fortunes. you fight for this one second, think maybe we have a shot to win this thing and all of a sudden you lose one of the most dramatic endings in history. just amazing. i had my phone with me. but everybody got on twitter, even i did. stuart: that is how i heard of the news. i heard it from my seven-year-old daughter. charles: i have about 25 different newsfeeds. stuart: what about the stock now? >> one downgrade, another big firm likes it, couple of firms don't like it, like five opinions on twitter this morning, tw to up, too down. stuart: you still don't like it yet?
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charles: i would like to see some numbers. the one amazon planning to deliver your packages by drone. you order a product, at your door 30 minutes or less. here it comes. you can bet government regulation is coming, right? does the judge want that? i cannot believe it. he will join us next. [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy.
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stuart: onlin online sales beatg brick and mortar over black friday weekend. look at ebay. looks like the gap had a good black friday even though retailer vigilante says the store was in some disarray. and then we have this, amazon ceo, lot of people talking about the fleet of delivery drones when he showed up last night. these things could revolutionize the online shopping industry, obviously, but if they become commonplace, one of the have to step in to regulate them? andrew napolitano is laughing already. let me get the question out.
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shirley if you're going to have a lot of these drones flying around dropping off packages at the judge's doorstep, thousands, you're going to have to have rules. where can they fly, how high, how many, where they can fly around, et cetera, et cetera. surely you accept the government should set rules for this, right? >> why do you, stuart varney, then the government will be the best arbitrator for this? stuart: because they will be. >> the public accepts the nonsense the government is the best arbiter. the reason we have potholes in the streets is the government has no competition. no other street with which to compete. maybe some for-profit or voluntary system would be a more efficient way to move goods from
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a to b then compliance with government regulations. charles: however the first time i drone to deliver a package to your house, goes through the window, the first time something goes wrong, the public will say we need a law, we need to have rules on this. stuart: you are right. since world war ii changed the public's attitude about the government, we now naturally look to the government for safety and security and the resolution of disputes even disputes we had better resolved ourselves to more efficiently done with competition. but it is a natural inclination to want to go to the government for this so it probably will come.
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which would be a better way to resolve this, government or some other system. -@stuart: so we're going to get rules. stuart: private enterprises better at everything. stuart: i was sitting in my backyard and i see this drone hovering around, so i fire up my shotgun and blow it out of the skies. can i do that? >> absolutely. if it is over your property and invading your property, absolutely. you don't know if it has a bomb, or worse yet, a camera on it. you don't know what evils that device can bring on your property to which you have not consented. just as you can use force to stop by this from preaching your nose you can use forces to stop from reaching your home. charles: i feel bad for the kids who live near you. i going to go back in the house
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crying. he shot down the helicopter. >> things to great british judges with a legislature has failed to legislate we have common law rights, and the common law is when a deadly force is about to come upon you, you can use equal or superior force to stop it. stuart: do have an know there's a case of a private citizen drone. >> the last time i made this kind of argument on fox, the e-mails went wild in favor. absolutely. stuart: i sympathize with that. >> until the legislate otherwise, a and unwanted dronen
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your property is an invader and the law is you can repel an invader using deadly force. stuart: how many years to think it will be before we see amazon delivery drones? >> said it would be four or five years. will not be as easy or quick as the tape he showed. i would welcome it. superior and less expensive way and faster way of getting what i want to pay him. he was very cheap.
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stuart: american girl while the popular and successful. it is an experience. and yes, visited their flagship store. i got the experience and you will as well next. >> you will see today a lot of youngsters smiling because this is the place they want to be. for some of them it is a special trip. this is the trip of a lifetime. ♪ ♪ ♪ [ tires screech ] chewley's finds itself in a sticky situation today after recalling its new gum. [ male announcer stick it to the market before you get sck. get the most extensive charting wherever you are with the mobiltrader app from td ameritrade.
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stuart: no doubt online shopping rules, even as you spend less over the whole thanksgiving weekend, online sales up 17%. nearly half of the shoppers shopped online. amazon, ebay the two big ones. let's check a couple of traditional brick-and-mortar stores with a big online presence. walmart and target down a fraction. fedex the busiest day of the year for them on pace for a new closing high $140 per share right now. disney had "frozen" a hit. at 70. "the hunger games" brough but in another 110 million. look for a return of the blockbusters. lions gate makes "the hunger games." up again. back in a moment.
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stuart: last to get paid a visit to one of new york city's most popular tourist resorts believe it or not. it is the american girl flagship store. check this out. stuart: if you are about seven years old i'm a little girl, we are in your center of gravity. we are in american girl. i walk in the door and i see all
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these young faces, very excited. >> 's own experiences and we sell dolls. >> what is her name? >> julie. stuart: how old are you? >> five. >> is this your irl? >> yes. stuart: did you come all the way here to buy julie? >> yes. >> at nine years old he gets to make decisions and they will have the stall for long times of the decisions they make are important and they are valued and it is a great experience for a girl to have. stuart: she looks like you, she really does. do you want little girls to look like you? >> on the way to our second floor we have a large bathroom because a lot of girls and moms who need the facility.
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while you go to the ladies room you can take your doll with you and we have stands inside so it won't miss any experience. stuart: not going to do that. >> as you go into the avenue, you can visit our girl of the year. we will start at the hair. when a girl comes, they get to pick the style of hairstyle they want, our hair stylists work with little girls to educate them on how they can take care of their dolls hairs. stuart: is this your dream to come here and get american girl doll? >> yeah. stuart: good for you. stuart: what is your name? >> samantha. stuart: samantha. did your doll eat with you today? and what is your doll's name? >> samantha. [laughter] stuart: as you walk around this place, you are surrounded by
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little girls seven, eight, nine years old and they are clearly in the place they want to be. five weeks until christmas, less than that, it is a big deal. and this is a terrific place to be. when i went to get the next on? >> next year. >> good answer. stuart: that was a lot of fun. i have some hard numbers for you. 143 million american doll books have been sold, 23 million american girl dolls sold, and 54 million visitors to the 17 stores. 70 million visitors per year to american mattel is the parent company, that is important. let's bring in nicole and charles on this one. first of all, american girl, is that a big part of their operation? charles: it is not big, but it is growing rapidly.
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barbie was up only 3%, hot wheels were down and fisher-price is flat. it is an important growth area. stuart: it is not just the sale of a doll, i got the impression it is the sale of an experienced for the little girl. multi generational thing. nicole: absolutely. it is priceless. her name is samantha, she named her doll samantha. it is so cute, they love it. a dream come true. you did great with that package. stuart: a great place to be as the holidays approach because it is full of these youngsters, very excited with moms and grandmothers and all the rest. charles: i park around the corner, you should see all of them come in with their bags. christmas in new york, you have
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to go to this store. >> the houses, the beds, the coaches, everything that goes with it, the accessories you have to have another job just to pay for them. a great, great experience, very cute. stuart: i cannot tell how much was spent on the experience, but i suspect well over $100. don't know for sure. thank you very much, indeed. a college kid holds up a sign on a sports tv show telling his mom to send that claimed his way. result of that, $24,000 payday. more on that in a moment. about getting trapped. why's that? uh, mark?
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stuart: a college student made $24,000 over the weekend by holding up this sign while on tv. it says hi, mom, send bitcoin be at it referenced code of his online bitcoin account. people were able to donate directly to him. that is what happened, supporters sent money to him to get positive publicity and we bid on it.
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stuart: the qr code, quick response code, pimple amplified on its net and that was his wallet. he opened his wallet up the world and said send money and they sent them money. i think it is amazing. stuart: we went to see more of these qr codes appearing at sporting events, for example. charles: it is a way of keeping in touch with people. you want to do anything, that is another story. to meet is as interesting as the bitcoin. stuart: they could have frozen the sign, got their smart phone and had the smartphone read the qr code and hooking them immediately into his wallet. >> and he got 24 grand.
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stuart: i'm trying to get to grips with that thing arising not sure i can. your take on the airline twitter battle which we recounted earlier, that is next. ya know, with new fedex one rate you can fill that box and pay one flat rate. i didn't know the coal thing was real. it's very real... david rivera. rivera, david. [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex.
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♪ stay in the groove with align. stuart: earlier i gave you my take on a twitter exchange that went viral between two passengers on a nasty things given day flight. i asked you i if you are the one who exposes bad behavior are you in some way liable. if you're the one exposes bad behavior. here's what you you had to say about all of this. but is it that he planned to act out in public you can expect the public responded according to our choice. don't like it, don't act out in public. michael says public place, public display, public scrutiny. he is no more liable than you are for putting this story on facebook. what the story does for me is it highlights the importance and the power of social media like twitter.
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charles: it makes every single person important. this notion you can do stupid things, can be a jerk and still be a victim is definitely going in the wrong direction. you are right, the power of social media is extraordinary. stuart: social media persuaded us to give a lot of prominence to the amazon drone delivery story because when he said that last night, that exploded in social media, and we therefore knew a lot of people are thinking of talking about this so we give it prominence on the show, they affected us. charles: the people in the past shaping the future, tonya to be popular in the future. it will be obsolete one day because he put out an idea and you kind of way it, let's go with it. it is interesting.
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stuart: we acknowledge that power, but when it comes a stock price the question still remains, how do you make money out of this influence you've got? how do you do that? charles: ability is a powerful if you include ads and stuff. stuart: maybe they will go up when they understand the way to make money out of it. charles: may have created a highway, now they have to put a hold on it. then to find a way not to slow down the highway, not to make intrusive to make a pleasant experience without deviating from the fact that was fun in the first place. stuart: charles payne right again. we're out of time. connell, it is yours. connell: we'll talk about that coming up an insurance company says hold on, still has significant issues
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will talk about what those issues are. and we have optional or, a good friend of ours show saying he is most worried about a bubble in u.s. stocks, stock market bubble. we have the amazon drone's, they did indeed take twitter by storm last night, we will get into it. and why are all looks the most searched item on google? dagen, thank goodness, has thoughts on that. that and more this hour of "markets now." don't give away those thoughts now. dagen: very disturbing man who lives in my building, doesn't seem to have a job, just smokes incessantly. and he wears uggs. which says i have no job.


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