tv After the Bell FOX Business December 1, 2016 4:00pm-5:01pm EST
i think you're buying high valuations. returns over time will probably be not that great. [closing bell rings] liz: great to see you. great to see christie brinkley ringing bell at nyse. we have record for dow jones industrials. connell, melissa, it is yours. >> historic high for dow jones industrial average here. i was starting to think it was me filling in for david. we get it today. dow hangs on to gains at the close. trump bum or trump rally is rolling right along for the blue-chips. connell: i'm connell mcshane in for david asman. melissa: that's right. i'm melissa francis for "after the bell." donald trump is in ohio for his
thank you tour, talking at rallies that. he spoke at a carrier plant in indianapolis announcing the details of that deal that he struck with the company to keep hundreds of manufacturing jobs from leaving the united states. we have more on all of this coming up. connell: back to the record day on wall street first. it is a brand new record high, for the dow just below 19,200. the 9th since donald trump was elected. the other thing we're watching of course is oil. it is continuing the tear as well. price futures, fox business contributor out in chicago at cme. ashley webster, meantime joins us first from the new york stock exchange. let's go through some big winners on pretty big day, ashley? >> pretty big day. the 18th, ho-hum, record close of 2016 for the dow. as you mentioned nine since donald trump won the election. take a look at financial sector. they were a huge winner in november.
certainly after trump victory and starting off the new year in the same vain, new month, december 1st. goldman sachs up 3 1/2%. jpmorgan, pretty impressive. look at retailers who really struggled today. dollar general, down 5 1/2%. you can see there, guess, the apparel retailer down 10%. and express, again smashing its guidance for the year. really getting punished down more than $2.72, down 20% on the day. not good news for retailers, at least some of them. back to you. connell: thank you, ashley. melissa: oil continues the rally. seeing the biggest two-day gain since january. investors think the opec deal is for really guess. >> it is for real, if you don't believe it, a lot of people
saying the deal isn't for real and same people that said they wouldn't get a deal. you can't underestimate there will be a lot of peer pressure not only within the opec cartel, we're talking about outside of the opec cartel. a lot of people compare this to 2008. they should really compare it to 2002. that is the last time opec and non-opec nations decided to ban together to cut production. you know very well what happened back then, melissa. that was the bottom of the market. i think you will see much better than expected compliance. the other argument on the oil side, everybody thinks, guess what will happen? all of sudden u.s. producers will ramp up production. the is no way the u.s. oil producers can ramp up production by a million barrels a day anytime soon. that will take some time. why the market is so bullish. back to you. melissa: great analysis, phil. connell? connell: talk about this with the dow kicking off this month of december with this new record we've been talking about and the month, december, traditionally
is a good one for stocks, right? have we gotten ahead of ourselves a little bit, however, with the traditional santa claus rally? maybe we saw the best from stocks last month after the election of donald trump, so-called trump bump in the markets. scott martin, kingsview asset management, fox contributor and james freeman from the "wall street journal" our friend sam stovall, scott came out with the idea that the santa claus rally may have come in early in november. just starting december with another record. what do you make of that, that we've seen the traditional rally already? >> definitely a thanksgiving rally so far everybody is pretty thankful for. this is interesting, connell, the rally could be here. look at dow records and s&p. not everywhere of the poor nasdaq has been smoked. connell: all of the tech stocks have been really rough today, right? >> totally. if you look back in history, tech stocks traditionally have a good time around the holiday season.
you can't just go and buy the market. you have to take shots. look for things working which are industrials, materials and banks. connell: james, one of the things goldman sachs said fairly interesting, the market early part of the trump administration, they're talking about what they look at s&p 500, broad market gain could add another 9%. that is bullish statement i guess on mr. trump's policies, right? >> you have to be bullish in terms of corporate tax reform. it is coming. i think individual tax reform as well. that is a bullish sign. i look around. obviously earnings getting better. we're getting good news out of small business. national federation of business, showing small business owners got optimistic looking to hire more after the election. melissa: hang on, we want to jump in with breaking news we're getting. howard schultz will step down as ceo of starbucks. ashley webster live at new york stock exchange with, wow, that is --
>> really unexpected it is, big news. starbucks announcing a new leadership structure as they put it to the drive the next wave of global growth. as you say, kevin johnson will become chief executive officer. he will be replacing howard schultz as you said who will become executive chairman. shults will also continue to serve as chairman of the board. looking at the press release it says that schultz will be appointed executive chairman and shift his focus to innovation, design and development of starbucks rosaterys around the world and starbucks retail store format. that is quite a shake up. schultz moving on to another part of the business. kevin johnson stepping in. very interesting indeed. melissa: what was kevin johnson's title before this? >> doesn't say to be honest with you. just trying to find that. obviously he was high up. we'll be keep looking, sure.
melissa: i want to panelists to react to this, james freeman that is a big shake-up. howard schultz is the name and face of the brand. he is the guy behind starbucks. you wonder if it is connected to politics at all. he was big advocate of hillary clinton. if you believe wikileaks on the list of people being considered as a vp pick. now stepping down at starbucks. what do you make of it? >> you think maybe depression over the election? melissa: i was going to let you say that, my friend james freeman. >> we're kidding. obviously, you're right. huge news. this is a guy who built the company. maybe it is not quite a big of a shift in terms of how it feels internally at starbucks, because as ashley mentioned he will step into a role to focus more on technology. that has been a big focus for him for a while. he spends a lot of time thinking about mobile payments. ideally he would love to have a starbucks solution that becomes
a standard for other retail stores too. that end of the business i think has gotten a lot of his attention for a long time. melissa: scott, that is very true. he was very early into mobile pay and mobile ordering. they have been geniuses about that anybody who has done it, knows can find starbucks, there is app finds starbucks nearest you, puts your favorite order in and ready when you walk in, one of the things they force to you pay in advance. reload the mobile starbucks card for 10 bucks, you spend seven bucks. they're ahead of cash they're holding. that is very interesting business. if that is what he focuses on scott, what do you think? >> i think it is good. probably promising in some cases what he is trying to do for the company. i think you're right, melissa, talk about kevin johnson who he is versus who schultz is, he is kind of an unknown now. the other thing to think about, schultz has led the company for
some years and done some great things the stock of a hours is down a couple bucks. that is pretty big move, down 4% reaction to schultz stepping down. market does not like it. we have example somewhat with apple with change to tim cook. interesting to see whether big figurehead steps away. connell: apple such a big name, things like this are expected, to scott's point, we get reaction, james. to fill in a few blanks of kevin johnson on for the news release, seven year member about board. schultz talks about johnson his partner in running every facet of starbucks. as you said a few moments ago, sometimes behind the scenes we don't know exactly how companies are running unless we're working for them. very well could be the guy that was pretty much running starbucks on a day-to-day basis already, right? >> yeah i think it might feel very smooth in terms of the company and how they operate now. i guess i just would like to add
to everything that's been said, you know, what a marketer howard has been. melissa: yeah. >> i don't think he is a coffee drinker. i could be wrong about that. just great at knowing what the customer wants. i have to admit, i really thought $4 cup of coffee was a fad. you look at their brilliance with their brand extensions, the way he is has built that brand and found a way to make it just a an experience that people love going into those stores. maybe that, that creative end you always wonder when you get these kind of transitions from visionary company builder to more of the coo type, do they still have that creativity to create the next product and that would be a question there. connell: okay. add one thing on johnson. it is kind of interesting because obviously, scott martin, everybody will focus on howard schultz. johnson has 30 plus years wha i'm reading in technology including 16 at microsoft and
five years as ceo at juniper networks. we were talking about a few moments ago for future of the company in many kay ways. obviously a company company, using technology, app based and this sort of thing this person has experience in that area already, johnson. >> very much so. and maybe a little bit of unknown to the markets yet with regards how the stock is reacting, connell, but with how the firm or company progresses forward it is all about technology. one of the things i like they're planning to do is delivery service. in some smaller cities as well. those are areas of the market they need to it had. james brought up interesting point of you have starbucks from five years ago and 10 years ago, today five years going forward. there are starbucks everywhere. if they overexpanded, is schultz trying to take the company to the next level, to keep it from expansion and burn on the cash side when they expand the stores? melissa: james was always the knock on starbucks, how many of these places do you possibly
need? it is oversaturated. on every corner. no one will pay that much for coffee. everywhere along the way there was ney saying. they continue to expand and grow. what would you think of investing in the company right this second? we've seen a significant drop since the announcement, is that opportunity? >> like an investor i'm maybe not the best judge, i was never in love with the product but i understand there are people who really are and these stores have kind of become, kind of, sort of a centers of local community life in some ways. i think that's the kind of intangible that you really wonder about with the person who is coming next. howard, obviously i didn't share his politics but the guy's a rock star. i have attended at least one meeting with him where he definitely can command a room. he is a smart, charismatic person. that is a big part of being ceo as well.
melissa: scott, i mean, so isn't that interesting? we know so much about his politics and don't necessarily always know that about ceos of consumer brands because they may not want to put that out there. it may be a turnoff if you don't agree with their politics. he always has been vocal where he stands on things. you right on the cups. had baristas writing things about sharing and compassion at a time when he seemed very anti-trump. we wondered if that would hurt the brand. it didn't. there has always been controversy around did they take christmas-looking icons off their cups? they have cycled through some different situations that seemed politically controversial, you hear people reacting, i don't like this. you didn't see sales go down. seems like such a durable brand, what do you think? >> yeah, the stores are filled with people that probably hate on the company, you know, that is what they do. they got you. james talked about it. they get you, it is great. i love stopping for a cup of
coffee on the way to work or way for a walk in the afternoon. just something people do. it is fun. tell you what is interesting, you asked a question about the investment going forward, melissa, we own starbucks in our firm and for our clients. revenue has been great, one thing to keep in mind for starbucks, coffee prices started to perk up again. they benefited from a lot of low input costs with commodity prices down so much past few years, those are ticking up. how it influences bottom line next couple years interesting how the company's stock performs. connell: interesting to talk about, some of this may get ahead of ourselves or exaggerated it to some extent made it a political conversation for understandable reasons, james, because that's what howard schultz worn on his sleeve for many years, is starbucks next step to expand for with technology with this new ceo takes over, mr. johnson in april? he would seem to want to go down that path. or is it to expand almost culturally in different parts of the country maybe where starbucks is not as popular,
people shun at it, i'm not paying $5 for a cup of coffee and maybe there is opportunities to do something different from a business perspective to get more of those people? >> that is a question. my sense would be probably be on innovation and selling more to existing customers i think they are in pretty much almost all relatively after fluent areas. from some middle class consumers it's a moment of luxury in your day. i would think the big store growth is maybe a thing of the past. melissa: no, it is really interesting. one of those things, anybody doing personal finance first thing they suggest to people, stop buying starbucks and brew your coffee at home, yet no one seems to do that very much. let's go back to ashley webster. i'm hearing he has more details. ashley. >> it is interesting, melissa, howard schultz said this a few years ago he said in on line shopping will hurt us. more and more people are staying
home. they're not wandering around the malls get starbucks and as they're out and about. they would lose foot traffic. he is concentrating on high-end coffee shops. one in seattle is 15,000 square feet. you're supposed to have a luxurious experience. he believes that is where starbucks can make a difference. to connell's point who pays five bucks for a cup of coffee. in these stores you pay 12 bucks for special reserve coffees. he believes you have to go high-end to set yourself apart from dunkin' donuts of this world who are offering higher-quality coffees. melissa: so interesting, james, along that theme, we've even cycled what has been a tough time for consumers. if you look in the past eight years, we've talked about how wages haven't grown. they have faced headwinds and persevered nonetheless. we're talking about coffee prices rising now but at the same time consumer sentiment risen dramatically in the past
few weeks since donald trump was elected. they you see the market rise. goldman sachs sees another bump in stocks middle of this year. with the coffee going up all that is good news for starbucks, no?>> people feeling ebullient, drinking coffee instead of saving for retirement would be good for starbucks. scott raises a good point with inflation possibility in terms of commodity prices. when this thing started i said i was skeptic on $4 cup of coffee, if this ends up being $15, $20 cup of coffee, people follow them up the chain. melissa: i don't know, only if a dash of jack daniels in it. i didn't say that. we'll have a lot more on the story coming up later in the hour as details emerge. we won't miss any. we'll bring them to you. connell: politics today with president-elect donald trump striking a deal to keep hundreds of jobs from leaving the united
states. we have from the alliance for american manufacturing, the president of that organization coming up. that is a good start. he will tell us what else needs to be done right now to hold on to these manufacturing jobs. melissa: mr. trump now headed to a rally in cincinnati, his second stop on his tour, showing his gratitude to the voters that helped him win the white house. karl rove weighs in on this and latest who may be joining trump's cabinet. ♪ as too busy with the kids to get a repair estimate. i just snapped a photo and got an estimate in 24 hours. my insurance company definitely doesn't have that... you can leave worry behind when liberty stands with you™ liberty mutual insurance when a moment spontaneously turns romantic, why pause to take a pill? or stop to find a bathroom? cialis for daily use is approved to treat both erectile dysfunction and the urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex.
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the stock is trading down after-hours as a result of this announcement. connell. connell: other big story today, president-elect donald trump wrapping up a speech at the carrier plant in indianapolis after reaching a deal to keep hundreds of jobs from fleeing to mexico. >> are not going to leave the united states anymore without consequences. not going to happen. connell: now we also are getting more details about the deal that was struck with carrier. jeff flock is covering it all from the plant, joins us with the latest from indianapolis, jeff? >> connell, it is funny, you have to love donald trump's honesty. he told workers who today, when he said on campaign trail he said save jobs in carrier. he said i didn't really mean that. i will save jobs in general. he went home on it v, i believe donald trump when he says he will save my job.
he called the chairman and ceo of united technologies, we have to work this out. he didn't promise him anything except a better business environment in the u.s. even though it was hard to convince him because they already built the plant in mexico. >> hard to negotiate when the plant is built. you know what craig said, you know, the plant is almost built, right? i said, greg, i don't care. it doesn't make any difference. don't worry about it. what are we going to do with the plant? rent it, sell it, knock it down, i don't care. reporter: they're actually going to use the plant as it turns out, fyi, because they are shipping some jobs still to mexico, ones making air conditioners. they make furnaces here. they will not make air conditioners. they will do that in mexico. they will use the plant but probably not as much as they used before. connell? connell: jeff flock in indianapolis. thank you, jeff. melissa: all eyes on the president-elect as trump's cabinet continues to take shape.
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connell: back with another news alert. we were talking about president-elect donald trump's appearance in indianapolis with jeff flock just a minute ago. from there he heads out on his thank you tour with a rally this evening in cincinnati, ohio. some stops in other rust belt steps are planned, they really helped carry him to his election victory. blake burman standing by with the very latest on the tour and what is planned for the rest of it, hey, blake. reporter: hi, there, connell. the line behind me keeps coming in. it has been like this last 10 or 15 minutes as they opened up doors. it is campaign atmosphere. they're selling hats, t-shirts, buttons and the likes. hundreds of people out here, thousands filing in. these are trump supporters coming out here one more time
again as part of this thank you tour from the president-elect. this will be what is expected to be a handful or so stops just like this all over the country, in upcoming weeks or so. some supporters say this is a type of president that they have been waiting to see for quite some time and that's why they are coming back out here. just to talk to some folks here, your name is, sir? >> tom. reporter: tomorrow, where are you from? >> northern kentucky. >> how long after drive? >> five minutes. >> five minutes. the wait? >> 20 minutes. i walked across the bridge. >> it is cold. you put in your dues. what do you hope to hear from him? >> i want to hear him again. i want to see him again. i want to see the interaction between he and pence. it has been a long time where a lot of people said we need a businessman in the white house. we finally got it. and he is going to know how to get things done. he has already shown that. >> tom, thank you very much. >> i appreciate it.
>> it is cold out here, go back inside. freezing they have been waiting a while, connell. as far as transition goes, tomorrow, to wrap up this week, couple of big interviews potentially on the ticket for the president-elect. he will sit down back in new york with john bolton, former u.n. ambassador. he is potentially in the running for the secretary of state position. also heidi height democratic senator will be there as well. this starts in a few hours. connell: blake burman in cincinnati. thank you, blake. melissa. melissa: karl rove, former deputy chief of staff of president george w. bush. he is a fox news contribute. what do you think of the thank you tour? people standing outside they want to see him one more time. more like celebrity rock star, what do you make of this whole thing? >> i think it is a very interesting and useful way for him to both express his thanks to the people who got him elected but also to signal that
he is moving ahead. we, in politics sometimes fortune favors the audacious. here is guy who got elected, picks up the phone, calls the head of carrier, in the last 36 hours gets good news from carrie going to indianapolis, celebrating fact he saved a thousand jobs. in country of 330 million people, nobody is thinking a thousand jobs will solve the problem. what people are looking for now, are signs they can hang their hat on and be confident about the future and hopeful and optimistic what he is going to do in office. his cabinet appointments have helped. his words by and large have helped. carrier announcement, even though 1,000 jobs, he is working getting good jobs and good paychex. melissa: put two things together and things you don't expect from politicians. he is still making moves that are outside of the box in terms of even picking up that phone, and making a deal.
i mean, people are already taking shots at carrots and sticks that were used but that's what you do. that is how you make a deal in order to change the circumstances around and keep it here. go ahead. >> yeah. i would like, i like the fact it was indiana that made the financial incentives available to an indiana company, than president of the united states. something unseemly about president of the united states handing out tax credits and abate means. let that be to the state, and let them make the decision. there is real concern about crony capitalism. that is one things that concerned people about president obama and solyndra and concerns a lot of people that the department of energy is serving as private equity firm investing money in energy technology companies around the country turned out to be political fronts. melissa: that is true, when you worry about the appearance as opposed to cutting through what has been going on in this
country, that has held back business, not thinking about the idea that we could create an environment that is more conducive to business, that it is cheaper to have workers down in mexico, why? one reason because you pay the workers a whole lot less but there is a lot more to that as well. >> i think that's right. i think that's right. you said create the environment. we want the president of the united states to focus on big things that affect everybody across the country equally and give people a chance to dream a big dream and pursue it. reducing, reducing, expanding the supply of energy so we have more affordable energy. get rid of unnecessary rules an regulations. >> right. >> getting the tax code right, all those things will have big impact upon creating jobs in the medium and long term. it is helpful in the short term for him to point to success at carrier. melissa: karl, thank you. always appreciate your insight. >> you bet. melissa: lou dobbs's coverage for the president-elect's thank you tour starting 7:00 p.m. eastern on fox business. connell: out in cincinnati.
call for cooperation between russia today and the united states. why vladmir putin says he is ready to work together under president-elect donald trump. general jack keane will weigh in on that coming up. ♪ when it comes to healthcare, seconds can mean the difference between life and death. for partners in health, time is life. we have 18,000 people around the world. the microsoft cloud helps our entire staff stay connected and work together in real time to help those that need it. the ability to collaborate changes how we work. what we do together changes how we live.
than 3% after-hours as news howard schultz is stepping down as ceo and chief operating officer. kevin johnson will replace shults. that will be effective in april. there is a conference call underway. we're listening and we'll bring you all the headlines as they break. >> the numbers of manufacturing jobs that are lost especially in the rust belt, and the rust belt is so incredible and we're losing companies, it's unbelievable, one after another. just one after another. connell: little more of the president-elect earlier today in indianapolis as he pushes to keep those manufacturing jobs here in the united states. we're joined by scott paul from the alliance for american manufacturing where he is the president. scott, good to see you. i want to pick up on a conversation that melissa and karl rove were having a moment ago about creating environment where these manufacturing-based companies would like to stay or be incentivized to stay inhe united states. so do you think, after hearing what you heard today at carrier,
that we're on the path to really doing that? >> i do. i am optimistic. obviously it takes the ascent of confess for some of this along with the president but i think he has laid the framework here and i think he has done it in a couple of ways. number one he reiterated his desire for a more robust look at trade policy, trade reform that could help domestic manufacturing in particular. a tax code that is friendlier to keeping jobs here in the united states. and i would also say i imagined in corporate boardrooms around the country, when they're making sourcing decisions now, which they do almost every day, somewhere, the fact that this issue has been raised to such a high-profile, is going to be a factor from here on out. connell: the other factor as we're having conversations it always going to be costs. we've done some stories over the years. we'll show you average manufacturing compensation in different countries around the globe.
germany at the top at $42 an hour, followed by the united states at 37. mexico all the way down there just below $6. so how do you close that gap? i know there are ways to close it but that is a giant gap between a country like mexico and china or united states and germany? >> it sure is. there is no question about it. i don't want to see u.s. wages go down. connell: right. >> i don't think that was the lesson we learned from the election. there is a lot of pain being felt. you mentioned germany. this is great example. germany has twice the amount of manufacturing in its economy than we do in our own. it leads us in global exports. it has been able to hold steady while our share of global exports has gone down along with the rise of china. what does germany do? i will not focus on regulatory aspects here, but germany believes in vocational education. germany believes in research and development and innovation that will be geared towards manufacturing.
capital is a little more patient in germany. they're not as focused on quarterly earnings. they're focused on the longer game. there's something that we can probably learn from that, and apply that american spirit of on the onship, and do a whole lot better, but we have to believe there is a future for us in manufacturing. connell: that's the thing, right? obviously your position. some others don't. some say we need to say to the jobs of so-called future? you heard that argument it has to be innovation and technology and what is next as opposed to manufacturing goes because that is our past. >> indiana is state with 30% ofs economy and it is largest sector. no reason to believe in age of autonomous vehicles and robotics and 3d printing that we can't have success. there is built-in environment that we live in.
a lot of stuff is still being made. the question where it is going to be made? there is a great case to be made we do it here with the rate policies and if we believe the united states. we're underserved in our own market. there is a lot of potential to grow right here if we bring those companies back to the united states. connell: scott, good discussion, prompted by the carrier news. we appreciate it. thanks for joining us. >> thank you. melissa: deadly wildfire in tennessee exhausted firefighters taking first break in 36 hours. what dolly parton is promising families that lost everything. >> when you've got wind up to 87 miles an hour push fire, people were basically running for their lives.
saying the fires were likely human caused. national guard troops from tennessee and north carolina and south carolina have been deployed to the area to help fight the blaze. in response to the tragedy country music star dolly parton has begun the my people fund which will provide a thousand dollars each month to families that lost the homes in the disaster so they're able to get back up on their feet. connell: she is doing a lot of good work in horrible, horrible story. we go back to breaking business story we brought you this hour, howard schultz stepping down as chief executive at starbucks handing over the reins ever the company to the chief operating officer kevin johnson who has been on the board for years. we're joined by the phone to talk a little bit about this, rob lutts, analyst and cio at cabin wealth management. what do we make of this with schultz being out at starbucks? >> quite clearly it's a big disappointment for all shareholders.
the heart and soul of the success of starbucks comes at the hand of howard schultz. i've watched him over the last decade or so create a really amazing company with tremendous performance from shareholder perspective. shareholders have to be disappointed. it doesn't mean the growth and success ends of starbucks but clearly it is going to be a change. sort of like when steve jobs, you know, had to leave apple because of his health issues. the company is going to change. it is not going to be the same company. so it's a big blow i believe. connell: how, what way? do you know anything about johnson? what way might we see starbucks move from here? >> i don't know too much about him as leader. i'm sure he is very capable leader, but howard schultz really put together a set of policies with the staff. when you're in the service business. he was able to really unlock unbelievably high level of performance for that staff. connell: was the guy for so long.
>> yeah. but i think, i think it's going to still stay alive. i really admire starbucks how they perform and react to changes in the, in the business environment. and how they respect their customer. i think tremendous, tremendous job on his part. it's a blow for all shareholders. connell: stock is down in after-hours. rob, thanks for hopping on so quickly. >> u welcome. melissa: ready to cooperate. russian president vladmir putin says he is ready to work with donald trump. what this means for u.s.-russian relations. general jack keane is next.
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has word of a possible cap net appointment, what do you have, charlie? >> at least a consideration, this is big for wall street because this is one of the major players on wall street. what sources telling fox business network is that goldman ceo -- coo, gary cohn, number two to lloyd blankfein, ceo, is being considered for energy secretary after his meeting meeh president-elect donald trump early in the week. what we understand, trump and cohn, who met on tuesday had very productive meeting at trump tower. we have some footage of him going in. there has been plenty of rumors about him being possibly the omb chief, but the other name that we're hearing they're considering is energy secretary. i'll tell you, this comes as rumors are swirling inside of goldman sachs that cohn, who has been rumored to leave for a long time. he is very unhappy being number two. he is very ambitious guy. he wants to be number one.
lloyd blankfein that he surveyed a cancer scare is not leaving for some time and he is getting itchy. every time there is gary cohn story he is leaving every two years. this seems like it has some relevance here, particularly with his meeting with trump. we should point out, him going at energy secretary is pretty good fit. he is commodities trader. >> right. >> he is pretty smart. he has been doing energy-related work for a long time. connell: right. >> actually sounds like a better fit than omb. connell: right. >> that is where we are. we're not saying it will happen. he is on the list apparently as potential energy secretary. he is right now, the rumor inside of goldman and they have not denied this that he is imminently, he is looking to bolt out of there. he wants this or wants to be ceo and he is not goings to be ceo. back to you. connell: thank you, charlie. melissa. melissa: new era of cooperation, russian president vladmir putin announcing he is willing to mend ties to the u.s. during his
state of the union address. putin saying, quote, we're ready for cooperation with the new american administration. it is important to normalize our bilateral ties on mutually beneficial basis. here is general jack keane, former u.s. army vice chief of staff and fox news military analyst. sorry, wonderful to have you. a lot of people on the right are terrified of this relationship and this statement and normalizing relations. what's your reaction? is it good or is it dangerous? >> well i think overall it is largely good. i mean, i'm actually amazed impact the president-elect is having domestically already with something you have discussed earlier, on carrier company. and now, in foreign policy and national security, here is an adversarial relationship for number of years. tried to reach out before president-elect trump takes office. quite profound in that sense. we certainly work with anybody,
work with, the russians to be sure but we have to. we have to approach russians terms where they are. most importantly from a position of strength. not about conceding to russians. recognizing their interests and respecting our own and guarding our own interests. that is a problem i think we've had over the last eight years. the obama administration was quite manipulated by vladmir putin through the years and his aggression certainly gone unchecked. melissa: yeah. >> before the administration in crimea. in ukraine and syria and all the provocations going on in eastern europe. drumbeat of war, terrifying eastern european countries, impacting on nato. all of that has to stop. that has to stop. melissa: do you do a better job getting him to stop by sort of normalizing relations and being i guess, what you would call, friendlier?
because that is what people on both the left and right rattle off the list of things that he has done which are without question terrible. they say how can donald trump possibly talk about doing business or being friendly with this person when he is doing all these other things? what's your reaction? >> first of all, yes. the, normalizing relations has to be based on what? on one, behavior change by the russian president. recognizing that this aggression can no longer continue. secondly, he is going to have to recognize that the united states has interests and our allies have interests in the region and we're not going to tolerate russia trying to climb back on the world stage and have an equal relationship with the united states and do that, at the expense of our allies in europe and begin to rip off eastern european countries which is quite likely his strategic
objective. this isn't about how we get along in personal relationships and talking to each other. this is about i think what the president setting out to do, one, rebuild the military. that will get, that will get vladmir putin's attention. reassure allies that we want them to do more, we're not backing away from them, we'll stay solid again. that will get putin's attention. three, stop the aggressive behavior. those are things that make a difference to putin. >> general jack keane, thanks for coming on. we're out of time. connell: we'll be back to wrap up a busy hour with peek in on holiday cheer and christmas lighting ceremonieses after a quick break. ce, we can help guide your retirement savings. so wherever your retirement journey takes you, we can help you reach your goals. call us or your advisor t. rowe price. turns romantic, why pause to take a pill?
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kelly clarkson. it's christmas time at the new york stock exchange as well. they will kick off the holiday season by lighting the 93rd annual tree with a special visit. risk and reward starts right now. and we are just a few moments away from the national christmas tree lighting. we will bring it back to life. we are also just a few hours away from president-elect donald trump and his thank you to her which well officially kick off in cincinnati ohio. the doubt hitting a fresh all-time high again today. if the indexes night record close since president-elect trump and his election victory. avid hillary clinton supporter avid hillary clinton supporter
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