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even when your phone isn't. wean air force veteran made of doing what's right,. not what's easy. so when a hailstorm hit, usaa reached out before he could even inspect the damage. that's how you do it right. usaa insurance is made just the way martin's family needs it - with hassle-free claims, he got paid before his neighbor even got started. because doing right by our members, that's what's right. usaa. what you're made of, we're made for. usaa maria: welcome back, now this, a police officer shot and killed in detroit, cheryl casone with headlines, now, cheryl. cheryl: that's right, one police officer is dead and one injured after shootout that happened in detroit last night, police

responded to home invasion call, people inside the people running towards officers telling them about a person that was armed with a rifle inside, that person was arrested a short time later, the officer's name have not yet been released. well, more turmoil for the united auto workers union, president gary jones stepping down, jones has been caught up in a federal corruption probe over an alleged scheme concerning $700,000 in union money, resignation announcement coming after uaw's board filed charges against jones and director vance pearson, well, all that glitters, take a look at shares of tiffany, parent of louis vuitton has raised bid to buy the company, $130 per share, that's 8% more than original offer, tiffany rejected earlier

this month, values tiffany at $16 billion, holiday news for you. maria: all right, cheryl, thank you, coming up caught on camera, car stuck on train track slammed by amtrak train, more of terrifying video. investing in the real estate market, we will tell you about one company making it easier for getting foot in the door on real estate, back in a minute.

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we need this bath. yes. yes you do. a kohler walk-in bath provides independence with peace of mind. call... for a free kohler® nightlight toilet seat with in-home quote or visit kohlerwalkinbath.com for more info. it's time sleep numbermate sleep360 smart bed.on the you can adjust your comfort on both sides, your sleep number setting. can it help keep us asleep? absolutely, it intelligently senses your movements and automatically adjusts to keep you both effortlessly comfortable. and snoring? no problem ...and done. so you can really promise better sleep. not promise. prove. and now during the ultimate sleep number event, save 50% on the sleep number 360 limited edition smart bed. plus 0% interest for 24 months on all smart beds. ends saturday maria: welcome back, we are going to look at real estate investing, one

start-up looking to open the world to real estate, know focused on low-entry barrier, ryan williams, great to have you this morning.

>> great to be here. thanks for having me. >> what are you seeing out there? >> more people should be able to access institutional quality real estate. >> what we are seeing more people are trusting our platform, more people engaging with the platform, commercial real estate is still performing well, it's all about which kind of assets you select, you focus on, we are focused on yield-oriented deals and these macro environments with volatility in the like. we have large presence on the southeast and west coast and market that is you might not otherwise think are going to be good growth driver that is we have seen a ton of growth in, we have done deals in and around sacramento, california area, a lot in nashville, houston, dallas, what we are seeing is that markets with downtown areas, proximity to strong schools, education centers are continuing to grow, develop, and affordability is critical as well. a lot of folks are moving out of urban centers to markets, we think of the next core markets and a lot of them happen to be in the coast and not the traditional new york, san francisco, dc. >> so ryan, i'm not familiar with your platform but i was listening to your success. >> thank you. >> congratulations to you and more importantly to investors. >> thank you.

>> if i want to invest in real estate play, am i buying certificate, am i buying one commercial property or aggregated portfolio, what is it? >> fundamental with yield loan interest and underlying entity, llc, our partnership that owns the property, and all the deals are single asset funds but what we have done that's different is we've created managed portfolio, we've bundled the single asset funds, you can get portfolio 5 assets in san francisco, in dallas, in houston, diversified by geography and that's the real benefit of diversification. >> can i go the other way and say i only want to invest in your selfies deals? >> absolutely. we are not recommending kind of being individual stock pickers, you know, i think generally diversification provides a lot of overall benefits and so we generally are saying to, folks, manage portfolio, you can mitigate some of the risk by

having too much exposure but you tell us to really double down in the southeast we can create opportunities for that way. dagen: what's your minimum investment in. >> the minimum per transaction is about 50,000, we lowered minimum so you can invest in 5 properties, 50,000, so 10k per property and so we rolled out this managed portfolio, it's been incredible by explosive in terms of the growth because we are lowing the entry points, reducing the fiction, that's what cadre was from the out set, i saw how important to invest in one of the most resilient asset classes but incestable and opaque. maria: cadre's cofounder, jared and josh kushner. he and josh are your partners

here. potential investors wanted kushner to divest to avoid any appearance of political favor and then talks with softbank, what can you tell us about huge loss with wework. >> a lot of investors including the team at softbank was interested in cadre and the number one thing for me and my north star has always been i want us to maintain control of our destiny, so if we get into negotiations, discussions and otherwise, and if we feel that's not the case, we are fortunate to have the flexibility where we don't need to take capital, in that case we are really grateful that they were very interested in the business as were a lot of others but terms have to make sense to us. maria: you have to compare and doing realizations, giving back $100 million, your model is catching on, you sold two apartment complexes, one outside of chicago and one outside

atlanta returning $100 million to investors in the process, how did you do that while we watched valuations in the private sector skyrocketed and perhaps they are excessive? look what softbank valued wework and took it down to 8 billion. >> pretty big drop. i think it comes down to how we architected cadre from the outset, we thought we could do well but also build a building that stands on its own, you are seeing the benefits of that focus and methodical growth, not the outside growth and investors trust engagement and results speak louder than anything else and that's what we have had on top of mind and enduring. maria: ryan, great to have you, ryan williams, miss on macy's, we will bring that to you when we come right back, stay with

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( ♪ ) introducing the marilyn monroe collection of fine jewellery. exclusively at zales, the "diamonds are a girl's best friend" store. 1 in 4 of us millennials have debt we might die with. and most of that debt is actually from credit cards. it's just not right. but with sofi, you can get your credit cards right by consolidating your credit card debt into one monthly payment. including your interest rate right by locking in a fixed low rate today. and you can get your money right with sofi. check your rate in two minutes or less. get a no-fee personal loan up to $100k. maria: welcome back. we have an earnings alert, macy's earnings are out, the

retailer reporting better than expected on the earnings line but the revenue missed, it's below expectations and the company is cutting the full year earnings and sales guidance, stock is down 3 and a quarter percent. macy's says it was hurt by the late arrival of cold weather, but here's another area where we see cracks in the consumer. i know, liz, earlier you said the consumer's quite strong but dagen, we've been talking about these reports in the last couple days that are putting some of the retailers in he question. dagen: this is a macy's problem, not a u.s. consumer problem. you have the likes of walmart and then target and t.j. maxx just had blockbuster numbers, incredibly strong sales. this is a macy's problem. any time a firm or a retailer blames the weather please. maria: exactly. dagen: stick that excuse where the sun don't shine. >> the one model of retail we know is in trouble is department stores. there are very few of them left. the ones that are, are

struggling. it's an en an incredibly tough . they have to invest in new ideas, new approaches to delivery. it's hugely problematic. maria: my fox business alert, my sources tell me in an exclusive this morning, charles schwab will acquire td ameritrade for $26 billion, this is the ameritrade discount brokerage arm of the toronto bank. this deal degree cree it's an asset -- creates an asset manager with $5 trillion in assets under management. the announcement will be made first thing this morning, this is a $26 billion deal. schwab has $3.85 trillion in client assets. ameritrade with 1.3 trillion. this comes after the race to zero commissions with asset managers, schwab was the first to make the move. competitors followed suit immediately. last month, on "mornings with maria," i spoke with schwab founder, charles schwab, who told me about testify ec the efo

commissions on the business. >> what do you give us? >> we give up about 4% of the revenue. we started out with rates 35, 4 of year40years ago, we cut the n they did the deregulation thing in '74. we've been cutting now for -- we're at zero. we try to be the modern wealth management firm and have a breadth of thing, breadth of services. i suspect we might get more business because of the free offer. maria: other consolidation is likely here. we were with robert wolf this morning who ran ubs americas for several years. it's interesting to look at the etf companies, they've come in, taken market share from big firms. now the etf companies are eating the other etf company's lunch, going to zero with commissions, forcing consolidation. >> you kept challenging, where do they make the money.

this transition is telling you they'll make the money by being a large money manager, having assets under management where they can charge fees where they do all services from asset management fee based, to trust services so they control a lot of your wealth. it's a great move. i think actually organic growth is very tough in this industry. i think acquisitions make a lot of sense. maria: trading started to turn problematic in the last 10 years where you saw less trading and increasingly wall street firms were going more and more toward becoming an asset manager. ubs was the first. >> we were the largest wealth manager in the world. we were always an advisor. >> even merrill lynch, some of the big retail companies talked about their people being advisers, no longer brokers. dagen: that started when i started covering finance back in the 1990s. the big elephant is vanguard. their assets under management as of august was $5.6 trillion.

they're in the mutual fund business which lets them be in 401-k plans and etf business. they have great relationship management with their customers and it's extremely local. maria: before schwab went to zero, it was vanguard taking fees down. >> any time we talk about charles schwab in the same time as vanguard, they're winning. maria: you're talking about a firm that has $5 trillion in a a um competing effectively with a vanguard and blackrock. >> a healthy multiple. maria: exactly. no surprise, this morning schwab and ameritrade are trading up. ameritrade is up 17%. we're going to turn to the democrat debate last night. 2020 hopefuls faced off in atlanta last night, pushing their agendas on a range of issues. watch. >> the fact is that right now the vast majority of democrats do not support medicare for all. it couldn't pass the united states senate right now with

democrats. it couldn't pass the house. nancy pelosi is one of those people who doesn't think it makes sense. >> doing a wealth taxis not about punishing anyone, it's about saying you built something great in this country, good for you. but you did it using workers all of us helped pay and he'd educa. that's something democrats, republicans and independents care about. regardless of party affiliation, people understand our government is working better and better for the billionaires, the rich, the well-connected and worse and worse for everyone else. >> i don't agree with the wealth tax the way elizabeth warren puts it. i agree that we need to raise the estate tax, we need to tax capital gains as ordinary income, real strategies to increase revenue. >> if you think a woman can't beat donald trump, nancy pelosi does it every single day. >> we cannot simply be consumed by donald trump. because if we are, you know what, we're going to lose the

election. maria: but they are consumed with donald trump. joining us right now is the host of the five, juan williams. what was your reaction to the debate last night? >> i thought two things. i thought pete buttigieg as the you new frontrunner in iowa, not nationally, really held up to the fire. the second thing i thought was i'm going on "mornings with maria," i bet this is going to be a cory booker party. because there he was, defending the idea that going after the rich in this way does not in fact appeal to voters, that what people want to talk about is wealth creation. so i thought, given what i've been calling the apoplectic reaction of i the donor class, e possibility of elizabeth warren as the nominee, i saw people defending wealth last night, even defense of tom steyer, coming from an unusual subject, a person, andrew yang, saying you can't pick on tom steyer.

that's his money and he's campaigning with his dollars. why would you pick on him. in both cases i thought "mornings with maria" will be happy today. maria: let me get your take. you were a very strong supporters of president obama. you are a friend of his, his golf buddy, may i say. >> i've also played golf with president trump, i should say. maria: who are you backing on the democratic field. >> i'm not going to tell you who i'm backing. i've been speaking to a bunch of campaigns, i've given to a bunch of candidates. maria: except? >> i have not given to elizabeth warren or bernie sanders. i would agree with juan last night. my first tweet was applauding cory booker many he hit it hard on the wealth tax. he went back to joe biden's kitchen table issues, how are we give people better wages, how are we helping them with mobility, how are we helping with skills. he shifted last night very quickly. i thought it was a great debate performance for him. he needed it. he's not on the december debate

stage. i think people applauded kind of liss moment there. dagen: by the way, i don't think that cory booker did a great job because he's going against the wealth tax. the facts are the facts, whether elizabeth warren wants to recognize them or not. that the wealth tax failed in sweden, it failed in germany, it failed in france and her plan is, well, unconstitutional. so to be called out on that would seem obvious. but it was the fact that cory booker and i think that other candidates see elizabeth warren suffering because she wants to take away their -- people's private health insurance, among other things. they're going to talk about the spirit of america, about -- in this country, i can start a business like calm clothing, right, in flint, michigan, i just have an idea, i've got a spiral notebook, i'm going to start a business and maybe i can make something of myself and become rich in this country. and i think they're carefully going to try to touch on that.

>> there has been a bit of a pivot. you saw a little bit of the lime light come off of elizabeth warren in the polls. she made a pivot on medicare for all. she went from calling it a policy to a platform, she went to say we're doing it immediately to we're doing it in three years and you saw polling numbers go down a little bit, going to bernie with respect to the pop lifulist left. i think they spoke more about the economy, more about china and more about foreign policy and it p wasn't a debate really just on progressive issues. i think they spoke a little more to the people. i think that being said, to your point, it wasn't a real debate. people just gave their views. >> i think given that all that's been going on in washington with the impeachment hearings, i thought it was interesting that you get a bernie sanders saying as we saw in the tape, you know, we can't just have this be about donald trump. because the democratic party, by the way, coming back to the wealth tax for a second, a lot of people think the wealthy should be taxed more in this

country but i think you see now the sense -- this was expressed last night, we don't know that you can win if you're not talking about wealth creation instead you're talking about punishing the wealthy. dagen: just to be clear, elizabeth warren's wealth tax is -- if you have money in a bank or in art, they will confiscate that money. they're not taxing income. she's not talking about raising rates on income taxes. >> no, no, it's a wealth tax. dagen: she's talking about wealth confiscation. maria: unconstitutional. dagen: and her mug about billionaire's tears, please. maria: she's capitalizing on it. >> do you see elizabeth warren recovering from the slippage on medicare for all? how does she get around that and you how does she rebuild her momentum? >> let's just break it down in pragmatic terms. she shares a large part of a left wing base of democratic party with bernie sanders. >> sure. >> they're in competition. they haven't attacked each other outright. but bernie has been very clear on the medicare for all issue to

say i'll tell you how we're going to pay for this and elizabeth warren has done nothing but confuse and try to dodge the issue, apparently she is the one -- you get a lot of the -- >> she came out with a big program, a plan for paying for it that was completely atrocious. >> i'll let you be the judge of that. her plan has not held up in the way to answer the question and settle the issues. that's not it. i think you see from people i call bernie bros, they have the sense that you know what, she used to be a republican, she's the elite, the harvard professor. i think you're starting to see some of that. you see pete buttigieg, when he's rising in iowa, a lot of that comes from elizabeth warren. >> what do you think mike bloomberg's entry could mean to the field at this point? >> i think he's up against a lot. i think he's coming in late, obviously he's trying -- it's funny to say, but it's the rudy giuliani strategy which is you skip a lot of the early contests. you saw how that worked out for

rierudy. my sense is he has name recognition in the new york, new jersey, connecticut area. i don't know that he has it nationally. he has a ton of money to spend. that gives him a tremendous advantage. what is it the issue? what is the thing that would make him distinguished. >> climate change and gun control. >> climate change, tell tom steyer, the other billionaire. >>.dagen: he's very strong on n control. >> he has much more accomplishments than tom steyer. >> what bloomberg does in an election where we have a pro rata delegate says testimony, he makes the possibility of a brokered convention much higher. dagen: h this is one thing you notice, because people have seen these individuals standing next to one another on a stage, what was that, the fifth debate last night. >> yes. dagen: you start to notice, elizabeth warren looked uncomfortable when challenged. they keep pushing her and she gets that nervous grin on her

face, kind of nods her head like this and it becomes really -- i think that people are going to start paying attention to the little things. >> faces last night, pete buttigieg staring at elizabeth warren, like what is going on here, especially when she mentioned her family's military service he was like hey, don't forget me. i would say amy klobuchar had a good night as well. suddenly you see her trending. i was like amy klobuchar trending, really. a little surprise to me. that line about a woman can beat donald trump, nancy pelosi does it every day. i think the reaction was genuine. yeah, really, why is it that you can't say here are the greatest women presidents. dagen: vice president biden didn't seem to know that kamala harris is a black female senator. maria: right. that was -- he hadn't made a gaffe until then and then he said that. >> booker said he was high. maria: great to see you. thanks so much. juan williams. we'll take a break. we are following breaking news

this morning, the deal of the day, as i reported earlier in the show. my sources tell me schwab will acquire td ameritrade for $26 billion. i have new information right now, details on who will run the combined company. we've got details next. the company will announce this in about one hour. back in a minute. driverless cars, or trips to mars. no commission. delivery drones, or the latest phones. no commission. no matter what you trade, at fidelity you'll pay no commission for online u.s. equity trades. at fidelity you'll pay no commission i am totally blind. and non-24 can make me show up too early... or too late. or make me feel like i'm not really "there." talk to your doctor, and call 844-234-2424.

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the nationwide dome. state-of-the-art venue. 80-yard screen. fantasy sports lounge. climate controlled seats. sushi bar. club level pool. really? lastly... retractable roof. whoa. are you kidding me? peytonville showed no mercy. go peytons. (pop) kind of lackluster. eh, still working out some kinks. who they playing? the brads. worst team in the league. of course. maria: welcome back. we have more details now on my exclusive this morning, schwab will acquire td ameritrade for $26 billion. schwab's ceo walter bettinger will run the combined company. steve boyle will be the interim ceo of this company. schwab will announce this at 8:30 a.m. eastern this morning. we've got the stocks trading up on this. aameritrade shares are up 24%. schwab will a acquire ameritrade for $26 billion.

the companies will announce this at 8:30 a.m. this morning. meanwhile, more fallout from prince andrew's bbc interview on his connections with convicted sex offender jeffrey epstein. cheryl casone with details now. cheryl: good morning again. prince andrew has asked to remove himself from public duties and he issued a brief statement saying he is willing to help any appropriate law enforcement agency with the investigation. during his bbc interview which was so ex he blo explosive it th he'll exes off -- british elections off the front pages, he tried to explain why he didn't cut ties with epstein. the prince denied claims concerning a relationship he allegedly had with a teenage girl. there is more trouble brewing in the motor city. general motors is filing a racketeering lawsuit against fiat chrysler, the competition. the suit accuses them of brie bg

union negotiators. gm is asking for significant damages but has no plans to target the uaw in the suit. finally, what place is safe from rising prices? your thanksgiving dinner table. the average cost of this year's feast for 10 setting you back just under $49. this is less than $45, up just one cent from last year's tab. go ahead, eat all the potatoes you want, the stuffing, the gravy, same price a as last year in good to know that. google's policy change, inside their new rules for political ads, details next. frightening crash, an amtrak train colliding with a car sitting on the tracks. the harrowing video, coming up. more on our breaking news this morning, schwab to acquire ameritrade for $26 billion, company will announce that in about an hour's time. we have more details on who will

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media, tv, radio, print. so for example, a campaign can still use general information to send subject matter ads, so people in this zip code seem to care about climate change so we send a blast ad to everyone in the area. google being clearer about the rules of the road. it is banning the following, deep fakes, misleading claims, one that makes demonstrably false claims and undermine participation it seems in trust in a democratic process. it puts facebook in the spotlight because facebook for the moment is a free-for-all to the point where mark zuckerberg it's not going to police free speech, it stuck to its stance we've the idea of accepting political ads when they contain false claims. google's policy, most say it's middle of the road, between facebook, wild, wild west and the other extreme which is twitter which outright banned political ads. speaking of facebook, it was

confirmed very, very late last night that president trump hosted facebook's ceo, mark zuckerberg, and board member peter teal at the white house dinner in october. at the time the dinner was not disclosed. facebook did confirm the dinner last night to a network, and a facebook spokesperson said in response, as is normal for a ceo of a major u.s. company, mark accepted an invitation to have dinner with the president and first lady at the white house. the network knows it's unclear why the meeting was not made public or what was discussed. and maria, you know this, peter teal is the most recognizable silicon valley tech name personality executive who is supporting president trump, so obviously there's a lot of interest in what was discussed at this dinner. maria: and he's been slammed for it, so much so that san francisco became so political that he moved his operations, his business to la. >> and he said it was just like this kind of looking bowl, looking glass bowl where everybody was staring at each other. dagen: one of the things that's going on at these technology

companies that only people kind of within them would really know about, you get a lot of like political stories, people within these companies protesting one thing or another, being very vocal. the problem for them is, they literally have so much cash and so much money that they have people who have no job, other than to be agitators within these companies. they don't actually do anything other than cause problems within and even outside of the company. that's something that they need to get their hands around. i'm surprised that the shareholders don't speak out more about what's happening. >> i think it's interesting that tim cook had a very long, lengthy, very public time with the president yesterday. he seems to have navigated this pretty well. he clearly is someone who is not a fan, who is not necessarily a donor, but yet he's working with the president. guess what, it's good for apple. maria: it's a balance of being an ally to president trump and

making sure to create jobs in the united states, which is what the president wants, but also pushing back on tariffs coming out of china since the iphone is made in china. dagen: if you make your main product, your main money maker in china, if you don't have a seat at the table when the trump administration is taking on china, then you're doing your shareholders and your employees a disservice. maria: deirdre, thank you. great reporting as always. defending hong kong protesters, president trump expected to sign the bill throwing support behind the demonstrators we told you about that yesterday from the senate, the house approved it 100%. football brawl fallout, the son of a long-time steelers owner, dan rooney, is here next weighing in on the brutal fight on the field. back in a minute. ♪ where there is a fire there is going to be a flame. ♪ where there is a flame someone's bound to get burned. ♪ just because it burns -- for every dollar you spend at a small business, an average of 67 cents stays local.

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everybody. thanks so much for joining us, i'm maria bartiromo. it is thursday, november 21. your top stories, 7:31 a.m. a fox business alert this morning, sources tell me in an exclusive that charles schwab will acquire ameritrade for $26 billion. schwab's ceo, walter bettinger will run the combined company. it will create an asset manager with $5 trillion in assets under management. the stocks are soaring on the news. we are expecting the companies to confirm my reporting in one hour, at 8:30 a.m. eastern, expect that report. also, the current cfo of ameritrade will be the interim ceo. we've got more details this morning on this breaking exclusive here at fox. renewed hopes of a u.s.-china trade deal, the wall street journal is reporting that china has invited u.s. trade negotiators for a new round of face-to-face talks. china's vice premier saying he's cautiously optimistic that phase one of a deal can be reachedche.

macy's and b sliding this morning. the stock is under pressure. they cut full year guidance. earlier, dagen said this is a macy's story, not necessarily a crack in the consumer story. macy's shares are down 5%. markets this morning look like this. futures indicating a decline at the start of trading as markets pull away from record highs. dow industrials down 27, s&p futures down 3, nasdaq down 13 and-a-half. u.s.-china trade tensions pushed all three major indices into the red yesterday as well. dow industrials were down 113, s&p down 11, nasdaq lower by 44. with the losses, the dow, nasdaq and s&p 500 clocked in their fourth highest closes in history. global markets this morning are mostly lower. take a look at european indices, the fq100 down 116, one and-a-half percent, the cac in paris down 15, quarter of a percent, the dax index lower by 25. concerns about phase one of the u.s.-china trade deal getting some pressure on the markets in asia. the kospi index down one and a

third percent, the house approved the bill which was first in the senate for the u.s. to back the hong kong protesters. hang seng index down on that news. all those stories coming up this thursday morning. the top story this half hour, protesters on the ground in hong kong closely watching legislation supporting them passed by congress. jonathan hunt as the latest from hong kong. jonathan. >> reporter: maria, good morning to you. good evening from the campus of hong kong polytechnic university. there is a sort of eerie calm among the damage and devastation here as the remaining students hunker down. as we walked around this sprawling site, talking to those students, they've had one overriding question for us. that being, when is president trump going to sign the human rights and democracy act, now passed by both the u.s. house and senate. they believe it will be a

significant victory for them if and when he does that and they are already very pleased to hear the kind of language we've been seeing from senators like marco rubio, who tweeted last night, quote, over the last 24 hours, by a cumulative vote of 517-1, the united states congress has made it clear that america is going to stand with hong kong. now, there are a few dozen students left on this campus, maria. we talked to the student union president earlier who told us that those students refuse to surrender to police. they refuse to give in. they are trying to find any way they can to escape from this campus. listen here. >> tried running out from sewage system, they want to go out by some roof or climbing out and jump down from the building and trying to go from a rope and trying to find someone to take

them out. so they're looking for different ways. >> reporter: now, police seem to be confident that they can catch anybody who tries to escape from this campus and for now the riot police appear to have backed off a previous plan to storm the campus to try to flush out those remaining holed out. to return to the human rights and democracy act, maria, the chinese government has said today that president trump must veto that act and pull back from what they call the praecipes. clearly if the president does sign the human rights and democracy act it will further complicate those already complicated trade talks. maria: i think we need to explain exactly what this bill says. this was first in the senate, this was a senate bill, then it went to the house and was approved 100% in the house yesterday. which basically ties the trade situation to any human rights

abuses that come out of these hong kong protesters, right? in other words, if china comes in and starts trying to get forceful with these hong kongers, this is perhaps going to affect the trade talks with the united states. >> reporter: yeah, ab absolutel. what it does specifically is that it requires the u.s. government to introduce sanctions against any hong kong or more importantly as you say any chinese government official who can be tied to human rights abuses against the protesters here. so clearly, that's something the chinese government absolutely feels it can not and will not stand for, maria. maria: it's a slippery slope, isn't it. i mean, if the u.s. is going to say, look, we are watching you, china, and your human rights abuses, you can't touch those honhong kongers, then what next? do we get involved in the

million uyghurs who are in concentration camps. i can understand china is upset out about this and may very well retaliate but the u.s. is following through on what it deems as most important and that is human rights. jonathan, thank you very much. jonathan hunt on the ground, live in hong kong. we want to turn to the wild nfl brawl between the cleveland browns and the pittsburgh steelers. myles garrett appealing the indefinite suspension in person to nfl commissioner. he was punished after the on-field fight, he clubbed mason rudolph in the head with his helmet. rudolph speaking out, saying he regretted his actions. joining me now is the son of long-time steelers owner, dan rooney and the author of the book, a different way to win, jim rooney is here. >> it's great to be here. maria: give your reaction first to the brawl. >> i want to say it's not commissioner goodell, it's jointly appointed between the

labor underan the nfl, james thrash woul who will hear the al of myles garrett. it's the union and the league that make the decisions. maria: important point. >> i think it is not representative of football. i don't think -- the steelers, brown, have a great rivalry that goes back to the 1950s, when paul brown brought the browns into cleveland, that actually helped the steelers because we were so bad back then, when people would travel from cleveland to pittsburgh it would help fill the stadium. since then, my father was one of the leading owners to help bring the browns back when they left baltimore in 1996. so i think this has been a tough rivalry but based on some level of mutual respect and i think things got a little out-of-hand. maria: for sure. would your father think about what happened on the field the other day? >> i don't like to speculate too much on someone who is no longer with us, but he would certainly frown upon fights in general. maria: what about colin kaepernick and his latest

fumble, if you will. the quarterback reportedly failed to get an nfl offer after the new controversy with his weekend workout. is it too much -- is he too much of a hot potato to take on, given the fact he may take his ideologies to the field and start kneeling again? >> i don't make personnel decisions. that's the scouts and coaches that make the decisions. i can't evaluate from a football standpoint. i think if someone can help teams win, they're interested in bringing those guys on-board. fans want to see their teams win. maria: maybe he hasn't been winning enough. >> exactly. maria: yeah. all right. you have a new book out, titled a different way to win. dan rooney's story from the super bowl to the rooney rule. takes a look at your father's career. tell us about it. >> thank you. my father -- so there's four main stories in the book. one of the stories is the steelers of the 1970s and since then, since the nfl merger in 1970, the steelers have won more games, more championships, and it's my father's leadership

style and the culture that he and his leadership team built that i think is the foundation of that approach. maria: you go through the role that your father played in the return of the browns to cleveland, renewing one of the nfl's great rivalries. tell us how he did it. >> my father was always about the fans, the players, certainly -- look, he was an owner. he fought for the sides of management. he was always known as someone who looked at being reasonable, finding ways to find compromise when compromises could be found and the fidelity, the relationship between the fans and football were so important to him and i think he thought sometimes that got lost sight of. people look at fan as a customer profile rather than your neighbor and my father always looked at them as if they were neighbors. maria: you write in the book, from cost management to marketing to negotiating player contracts, dan rooney didn't just turn around the team's fortunes on the field, he elevated the steelers into one of the most popular and respected brands in the nfl and sustained it for nearly 50 years. in researching the book you

spoke to more than 50 people, including roger goodell, former players and managers. what kind of sense did you get from them. >> it was an interesting thing. my father just passed away. we went through this experience with so many folks who had meaningful interaction was my father and it was almost the sort of special grieving process. they shared things that just were so kind and decent, but they shared them in the context of the business, that he made decisions that were the hard, tough decision but he always had a compassion, this respect for everyone he worked with. that was special to have those experiences. maria: that's called leadership, isn't it. jim, it's great to have you. >> thank you. great to be here. maria: check out the book. president trump is tweeting on apple, here's what he said. during my visit yesterday to austin, texas, the startup of the new mac pro and the discussion of a new $1 billion campus, also in texas, i asked tim cook to see if he could get apple involved if building 5g in

the united states. they have it all, money, technology, vision and cook writes the president this morning. slip in a short break. when we come back, frightening moments for amtrak, one of the trains crashing into a car. petco ditching food with artificial colors and flavors, the effect on the bottom line, we talk with the ceo of petco coming up. stay with us. does your broker offer more than just free trades? fidelity has zero commissions for online u.s. equity trades and etfs, plus zero minimums to open a brokerage account. with value like this, there are zero reasons to invest anywhere else. fidelity. there are zero reasons to invest anywhere else. i am totally blind. and non-24 can throw my days and nights out of sync, keeping me from the things i love to do.

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maria: welcome back. the breaking news of the day, the deal is done, my sources tell me in an exclusive, charles schwab will acquire ameritrade for $26 billion. the deal will create an asset manager with $5 trillion in assets under management so the combined firm can better compete with vanguard as well as blackrock. my sources tell me the deal was finalized last night. the official announcement will be made at 8:30 a.m. eastern so we're waiting for the companies to confirm this in about 45 minutes. i'm told that schwab's ceo, walt bettinger will run the combined company. td ameritrade's current ceo steve boyle will be the interim ceo for td ameritrade. the stocks are already moving on the report. israel still struggling to form a government, cheryl casone in headlines right now.

cheryl: that's right, maria. benny gain ganz, all but assuria third election this year. talks broke down over who would serve as prime minister and whether ultra orthodox parties would be included. they have 21 days to nominate a candidate. pay pal is sweet on honey. the company is buying the shopping reward site which is named honey for $4 billion. honey helps online shoppers save money through coupons and discounts. this is pay pal's biggest deal ever. and finally, some terrifying video out of you new jersey. a police dashcam captured the moment an amtrak train slammed into a disabled car that was stuck on the tracks, look at that. local police and the driver of the toyota camry, it was a toyota camry, ran for cover as

the train destroyed the vehicle. it sent the smashed car into the police vehicle. thankfully no injuries were reported. police say the driver was intoxicated. she was arrested at the scene as well but she's okay. maria: wow. unbelievable. thank you, cheryl. more on the breaks news, my sources tell me that charles schwab will acquire ameritrade. pets eating healthy, petco ditching food with art usual colors an -- artificial colors d flavors, its effect on the bottom line. back in a minute with that. ♪ you can jump right in. ♪ let the music pull you in. ♪ you can jump right in. ♪ go lose yourself again. ♪

maria: welcome back.

well, a healthy pet is a happy pet. petco last year announced that it would no longer sell pet food or treats made with artificial colors, flavors, and preservatives. the company risked millions but saw an 80% retention in its customer base. joining us now is the ceo of petco, ron coughlin. that was a big risk. it was an important decision for you. >> it was $100 million risk. but i like to say what's good for the pet will be good for petco. we eliminated 1.5 million pounds of food with artificial inagreed yefntingredients. last year we were down 3%, now we're up 4%. it's worked for our business and more importantly for pets. >> is that because pet owners are becoming more and more choosey about taking care of their pets in this way, making sure they have the best food? wouldn't that be a higher margin product that you're selling? >> first, 30% of folks don't even know they have artificials.

so part of it us educating. part is people looking for more natural foods. the products tend to be higher margin, so it's good for our business. most importantly, they're better foods. maria: well, the company's also stretching its global reach, opening a store in at this was . tell us where you're looking expand. >> we have a great business in mexico. we partnered with a group down there, we're approaching 100 stores in mexico. and tijuana was the latest. i was there for the opening and everyone was very excited to bring those healthier products to tijuana customers. we have a partnership with canadian tire in canada that's going very well. so international is going well for us. maria: having you on the show is obviously a personal thing for me because when you were first on the program i happened to say in a matter of fact way that dagen is encouraging me to get a rescue because she has two rescues. sheaf is amazing -- she is amazing, rescuing her dogs her

whole life. i said i'm thinking about getting a rescue and you found me my baby, dusty. thank you so much for that i love this dog so much. let's talk about rescuing dogs. it's such an important -- there she is. she's been on tv now several times. dagen: i'm disappointed she didn't come in for a guest appearance. >> next time you have dusty and i'll bring my dog, yummy. maria: we want to bring your dog. you casked so many dogs, -- saved so many dogs. tell us about it. >> last week was the 20th anniversary of the foundation. we saved 4,000 pets a year. we say how can people leave these pets. we're on a drive to eliminate youteliminateeuthanizing. maria: suzanne is my a hero. after you came on the show, we e-mailed back and fort, suzanne and i and at one point baby

dusty got parvo. she said you may not want the dog, she was sick. she was abandoned on the street. what gets into somebody's mind to abandon a dog on the street? dusty was abee abandoned on the streets of houston. dagen: those people are evil. you can't fix it. i want to connect dusty and adoption and the health food initiative. so many more people are rescuing animals. when you bring -- adopt a dog in your home, very often they have gastrointestinal problems, they have serious health problems. people and pet owners and adopters are much more in touch with the animal's health needs than ever before and i've experienced that with -- you've got skin allergies, both my dogs have inflammatory bowel disease. so again, you are meeting a need that is out there. >> you know, two comments about that. first of all, i talked about chemicals, pro propylene glia c,

that's in anti--- glysol, that's in antifreeze. we're eliminating the products. you talked about parvo and -- formal vet care is hard to come by for a lot of people. one of the things we're doing is we're launching vets around the country, we're up to 100 now for affordable vet care. people don't have access to affordable vet care. maria: that is so great. you're helping so many people and dogs and the rescue knows that you rescued them. dusty definitely knows. she's such a good dog. she is loving her new life in new york. coming up, more breaking news this morning. sourcing telling me charles schwab is acquiring td ameritrade, $26 billion. more on that next. stay with us. the things

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thursday morning. thanks for joining us. i'm maria bartiromo. thursday, november 21 top a stories 8:00 a.m. on the east coast, fox business, exclusive this morning, sources tell me, in an exclusive that charles schwab will acquire td administer traded for 26 billions ceo bettinger will go tapped to run combined company expecting announcement from o 30 minutes' time, we will have more information, this morning, coming up, renewed help the "the wall street journal" trading china has invited u.s. trade negotiates for a new round face-to-face talks vice premier says it is cautiously optimistic phase one can be reached, there is more chaos no hong kong to report also impacting u.s.-china relationships, a bill supporting hong kong activists headed to president's desk, after passing the house and senate retailer in focus macy's sliding this morning third-quarter earnings stocks under pressure after they both cut full year guidance, take a look bj's down 0% futures this

morning are lower to look another markets this morning xhpg a pullback, at start of trading although we are well off the lows of the morning. u.s. china trade tensions pushed all three major indices into yesterday yesterday today dow industrials down 12 points dow yesterday down 112 s&p down 11 nasdaq lower by 43 even with losses dow nasdaq s&p 500 fourth highest close in history european indices down across the board, ft 100 down 114 points cac quarante down 15, dax down 32 in asia overnight markets finished as you will the see kospi worst as well as hong kong, hang seng down one and two-thirds percent kospi down one and a third coming up thursday morning to break it down fox a business dagen mcdowell, fox news about contributor 32 advisories fundingesh ceo former economic advisory to president obama roeper wolf here, columnist for the hill

liz peek. >> last two hours flowed. >> and this story on hong kong, is really important, that it did pass the house, after the senate and elizabeth i think this is important point to make that now the u.s. administration, is attaching human rights abuses, to a trade deal. >> well, it is interesting question whether chinese will make that connection, i mean they have spoken out harshly against this, bill, that passed, past owe unanimously in the senate all but one person in the house voted for it very tough for president trump not to sign it, there was some talk, yesterday, that he might choose not to sign it send it will back to congress that it would be he over ridden easily could say to xi jinping i tried will of congress too strong on this i think will sign it guess this really isn't a huge speed bump for the trade negotiations. >> markets well off the lows

this morning we've got breaking news this morning, as i have been reporting, sources tell me in exclusive, that charles schwab will acquire ameritrade for 26 billion dollars, the detail will create asset manager with 5 trillion dollars in assets under management sources today the deal was finalized last night official announcement will be made this morning 8:30 a.m. eastern walter are bettinger will run. >> steve boyle interim ceo for ameritrade a month after schwab cut on line fees to zero competitors followed zut charles charles told me about effects on his business. >> what do you give up by going to zero in commissions. >> well, what we give about 4% by revenue started out, rates, 3540, years ago, we cut rates then when they did the decommission, regulation thing in 74. we have been cutting cutting

cutting now for now we want to either more than wealth management firm a breadth of things, i suspect we might get more business because of the free offer. >> yeah. that is what they have to keep doing acquiring assets given the fact not making money on commissions. >> no-brainer, i think you have been talking about it since they went to zero commissions, how do they make money, they are telling you they make money being an aggregator making sure they get bigger making sure more wealth coming in going to start giving more services, the services they give is where they make margin i think knowledgeablely smart motive market telling you a smart move as to stock moving ti do ameritrade shares up 25% schwab up 12% got to believe more consolidation as a result of this a major player, competing with likes of vanguard and blackrock 5

trillion. >> unusual both go up not only a predicated value but also that it was really important, move, for the acquire other i would say almost a defensive move people up against huge blackstone brak rock excuse me a gigantic organization, you need i think you said earlier bigger, better know question. >> in terms. assets, i mentioned earlier vanguard has about earlier, this year, in august, had about 5.6 trillion dollars, in assets under management, but it begs the question of how do firms trying to get into 40 k business? or get into 40 k plans because 401(k) plans the xelt capture for these giant financial firms. >> absolutely trying to get into the 401(k) business. >> a difference between mutual fund business versus adviser.

>> mutuallied continually compete couldedtize themselves lower and lowe adviser business he serving consumers knowing client any time you know your client showing better product, it is planning, insurance planning, you are going they are captive to you. >> we talked about gigantic transfer of wealth in the offing bacteriums aren't going to last forever ul that more of accumulated during a period of favorable taxation and stock market returns, going to be moving to another generation. >> lock it up in a trust make sure that the children and grandchildren are also your consumers what -- was talking about earlier. >> we have talked about this probably two decades now, but there has also a been kind two of different versions of financial services, there was do you want he to be an investment bank asset manager, as one and wealth manager or consumer bank commercial bank investment bang do you want the product push or client

push i think schwab is saying we want to be the client push i that i smart move. >> typically of chuck schwab a pioneer in the industry that he has been retailer down but markets have come well off the lows,less talk about tariffs for a promptly, president trump, visits an austin, texas apple plant may. c book pros, made joined by tim cook flooded the idea company could see exemptions on tariffs. >> should apple be exempt from tariffs. >> we will look at that the problem you have samsung a great company but a competitor of apple not there it is because we have the trade deal with -- we made a great deal with south korea we have to treat apple was we treat samsung some day you are going to see apple fill plants in our country not china that is

happening it is all happening all the american dream. >> president trump tweeting about trip this morning saying during my visit yesterday, to austin, texas for the start-up of new mac pro, and discussion of a new one-billion-dollar campus also in texas, i asked tim cook to see if he could get apple involved billing 5g in united states all money technology vision and cook joining me right now herbold group cfo, great to have you thanks for joining us. >> hi, maria. >> i know you can speak directly to this theft of intellectual plroperty from china risk so many companies have taken in terms of coming up with patents with ideas, only to see them stolen by chinese, do you have experience with that? >> yes, we do. from the standpoint of my experience at microsoft, and also, being on the board of technology companies, and each

company is different. the company i was on the board of recently proud mass inspect to many torz gas chromatography equipment for testing water quality meat equality chinese needed tools badly you would think they would attempt to rip us off so to speak in tact that technology moved so fast maria they want to latest and greatest equipment, so consequently ip issue not an issue they needed equipment knew every 12 months going to be upgraded even better than ever, so it was not an issue, back in 80s, 90s when software was proud on cds, they would rip you of off right and left now software is basically a service where you become a subscriber and every night product can get changed, either to try to avoid a advisers or to build in a new

capability so things change, but the fact is, over the decades we have had big problems, on the trademark and ip area with china. maria: given your experience, being at microsoft, for as long as you were, and seeing the theft that took place do you think now seeing that they have actually now created their innovation do you think that they would be willing to do a deal, and agree to stop the intellectual property theft or is this a cultural thing what is your take on possibly for a deal lu liu he invited trade dwilz for trade talks according to "the wall street journal" this morning, the theft can have intellectual property a major sticking point. >> i think they probably would agree to some concept around doing this the correct way. to tell you the truth. in reality, what would occur, their dna is different than ours when it comes to intellectual property. and so what really occurs, out in the market could be quite different and it could take quite a long time.

but the fact is, i think that when companies multinational companies in particular look at china adindia see billions of people, they know they have to do business, in this part of the world, and so consequently they are willing to look at it over to long haul okay i am going to have to deal with certain things that i don't like, and bear with it, try to work around it. but with time, i think things will work out. >> what do you think about the president exhorting apple to get into 5g is a realistic ask or any company government tales up with to get leading position in this? >> 5g is a mess in the united states. in regard to all the different government organizations, that -- have their hand in the cookie jar so to speak.

i mean to get a key decision made on the infrastructure associated with 5g you have to talk to the fcc you have to talk to commerce you have to talk to transportation. energy. education all these organizations, plus a few government subcommittees they want to be part of this. and it is in stark contrast who what is happening in china where in fact a couple weeks ago they announced, in 50 cities, that 5g was going live with 3 big players over there wireless vendors, so they are marching ahead of us in 5g we have a bureaucratic mess. >> that is dispiriting. >> true because things will change, quite a bit in terms of 5g, quick, what would you see as biggest change if when 5g happens? >> well, the speeds are -- phenomenal you are going to

get applications that are real time that are monitoring things we never dreamed of monitoring. and on a quick basis be able to react to small changes, going to be powerful, the medical industry may have in manufacturing, in terms of piece of equipment, going awry. so you are going to know things a lot faster. >> all right bob we will be watching, we certainly don't want china to be number one in that, we will see you soon sir thanks for joining us. >> take care. >> bob herbold joining us top 20 to democratic democrats making case to voters last night facing off last night in atlanta we have all the debate highlights when we come back big news of the morning sources tell me charles schwab acquire ameritrade 26 billion dollars schwab will announce 8:30 a.m. eastern we are on it will looking for a huge move in the stock as a result of this report we're back in a minute. no commission. delivery drones, or the latest phones. no commission. no matter what you trade,

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row do you characterize the back tropical for investing how does that change. >> you couldn't have a better economy the unemployment rate being so low it is incredible, i mean. >> low -- >> we are in a robust economy. maria: that was schwab founder charles schwab with me on this program last month, that number about there that you saw, was actually from a month ago when the futures were down my sources telling me in exclusive this morning that charles schwab will acquire ameritrade for 26 billions, gerri wilson on the floor of the new york stock exchange with more we have seen a reform of fortune futures down a gain dow up 37 points. >> maria that is right, this story front and center let me tell you schwab migrate ameritrade 26 billion dollars, you broke it everybody else now scrambling to catch up last month schwab first out of the gate saying we are going to cut commissions to zero what happens, they harvested

142000 accounts in to be of 31% from previous month, knowing to keep up what is interesting here, these two stocks have underperformed major averages all year long now e-trade down interactive brokers up big reactions throughout the industry cannabis pot house judiciary committee approving a bill leaguelizing's. >> aurora doing well, we expect the house will love this not so much the senate back to you. maria: gerri thank you, gerri willis floor of new york stock exchange a short break when we come back top democrats battling it out during last night's debate in at lavanta. >> sources tell me schwab will acquire ameritrade, for 26 billion dollars, the stocks on the move, we are back in two minutes time.

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futures turning positive, on a report this morning, that u.s. may delay the december 15 tariffs, this report is from the chinese. and it is in the china sun, and i just want to make sure that we say this, because the china morning post reporting this the last time we had this report come in out of china it was wrong. and china is getting some information out in the markets, it does move markets, so i want to be clear there, yes, markets are up, on a report that the u.s. is

considering not increasing tariffs on december 15th tariff expectation, but this is from the china morning post. turn to 2020 democratic debate candidates in atlanta pushing views on health care, wealth tabs president trump joining us the president and partner maslansky and partners lee carter. >> your takeaway. >> my takeaway i think this morning continuing to have her message i think did a good job with her -- i think the rest mayor mete i don't think anybody's minds totaled changed. >> surprising to me people this was sort of make-or-break we are getting down to the last stretch here right less than ninety days iowa caucuses, everyone seemed to play it safe, that seems like a strange decision to me. >> i think cory booker came out i think really good moments why not getting more traction is a little bit beyond me i think, you know,

he did a really good job going after joe biden a really good job after elizabeth warren wealth taxing i don't think that is memorable, he knew that was fight of his life. >> i would agree with lee i thought corey had a great night started off immediately going after warren's wealthy tax of miot toiy pivoting kitc issue who do you we make workers feel better by wages. >> i think mayor pete did what he had to do i also think amy klobuchar actually had a good night i would probably disagree with you on kamala i think kamala did what she needed to. >> i think reaction that i got to some things she did was just wasn't likable, i don't think -- >> to tactic tulactuallie attac. >> was the particular not o o o overwhelmingly popular.

>> bill o'reilly going on twitter saying kamala not likable had a lot of us say the opposite. >> why are you following bill o'reilly on twitter? >> [laughter] >> went out there, no -- when billionaires on the to race that helps warren. >> from so much opposition to tulsi gabbard seems outlier there not married to any one you know, constituent, she is i she has done service to our country why do democrats not like you jibing i can tell you laning on phrase over and over factually inaccurate that clinton bush trump have pushed regime change war keeps using that -- that is just not -- it is inaccurate. >> i think -- a few things one i think was out-and-out wrong on mayor pete last night number two, party carries about electability she is not

going to be next president kind of. >> amazed still up there to be honest certainly has a following people don't like the foreign policy that we've seen last two administrations, think she is an alternative but does anyone seriously think she can be nominee i do not. >> regime change war, with reference to president trump. >> that is just not -- >> off base. >> let's take a quick break then we've got more on this, want to talk about senator elizabeth warren we are also waiting on the official comments from schwab as they go to acquire ameritrade plus u.s.-china trade hopes all coming up right after this. woman: my reputation was trashed online.

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maria: welcome back fox exclusive this morning, first to tell me in exclusive that charles schwab will acquire ameritrade for 26 billion dollars, the detail creates asset manager with five trillion dollars in assets under management sources tell me deal was finalized last

night announcement made any minute now 8:30 a.m. eastern targeting, schwab chee walter bettinger will run combined company steve boyle interim ceo for tv ameritrade a month after schwab took only commissions all the way down to zero. >> before the break talking to lee carter about last night's debate we are talking about, the democratic debate want your dial this morning, senator elizabeth warren her plans for a wealth tax on billionaires issue that could prove difficult when it comes to swaying voters, let's take a look. >> i make it really big when you make a top one-tenth of 1% big, pitch in two cents everybody else gets chance to make it here is the thing, that is something that democrats care about, independents care about, republicans care about. people understand, this country our government is working better and better for the billionaires to rich the

well connected and worst and worst for everyone else. >> this is the thing about elizabeth warren you can see that democrats are really resonating with wealthy tax and her message really all about, government that works for all of us not just a few. that is her mantra message working with her base you can see independents flat lined there not totally turned off, and not surprising that republicans want nothing to do with that message. but i think it is important that everybody understand, that her message, that her plans are resonating with a huge group of people out there she has some of the most messages of anything -- >> how do you value this, i mean like what how does a farmer value the land from year-to-year what if you have, seats in the stobts was, if you have art what if you have how do you value your assets to pay the two cents she is talking about. >> also what if billionaires move her plan there is a penalty if you try to leave

united states unconstitutional money moves. brernz don't need to stay here and collect social security, in retirement they are gone, g-o-n-e. >> the rest of europe would well welcome that. >> seven in 10 support idea of a wealth tax there is a huge lots of people think they deserve to pay more because of success, and whether we like it or not that is the truth. and if you are going to combat that if you want to fied it not about ib picking apart saying how do we do it differently people know -- >> how are you going to pay for plans, two cents on just billionaires not going to make. >> it we know this is a dishonest it is not two cents it is two cents, six cents for different group of the people every year if values, on assets go down what do you do there is no -- there is no question this is an unworkable tax has been proved to be unworkable the republicans have to do a better job, of educating people on why this

doesn't work. >> also how lowest income people blacks hispanics, et cetera, doing the -- best right now. >> making. >> the bottom -- >> wages up, 6% we talk wages being up 3% for average, but the very bop seen wages up better than 6% year-over-year. >> bottom line when arguing with pill we are losing if trying to talk about what our plans are what the republican plans are doing, for the american people, and that is when you are winning, and we saw the same thing 20150 democrat sat there said you know what president, his plan on the wall nonsense never going to work who is going to pay for it all talking about impossible guess who won i can see the same thing happening right now. >> let me ask you about bernie sanders insisting democratic field focus on issues not president trump watch this. >> we have a president who is not only a pathological liar he is likely the most corrupt

president more than history of america but we cannot -- simply be consumed by donald trump. if we are you know what we're going to lose the election. maria: they went on to be consumed by donald trump [laughter] >> i think so funny to people people resonated with idea we should not be consumed with donald trump and there is appetite to stop talking about donald trump talk about what you are doing are for america that said a lot of people said in their comments talking about this like kind of hilarious said that talk first part of message consumed with hatred for the president. >> i think something is we learned voters go in vote for something. >> right. >> trump campaign is not a winning strategy -- >> that is right. >> i am for something campaign will get people to show up at pols vote for something, and i think that the reason you spoke about, elizabeth warren income inequality a message that resonates do you have a policy that can back it up. >> she is for taking health insurance away from 180 million americans and a lot of

them liberal a lot democratic voters a lot of them union members tried to pivot away say we are just going o do. >> to relatively of -- to the left of you not for that. >> a disaster in making anybody, anybody who actually works has a job, they know that. maria: i am glad you mentioned ukrainnions they want changes in usmca to take away health coverage you know these. >> you know, leaders saying shut up. >> picketing with gm workers doing everything possible to get hers back in -- >> needs better plan. >> where recently -- right. as quick break thank you, lee carter we turn to u.s.-china trade breaking news south china morning post this morning are reporting u.s. may delay december 15 tariffs there are some people, in washington, who say this is

fake news this is coming amid reports chinese vice premier lu lu invited trade officials to beijing for new round of trade talks u.s. officials are willing to meet in person if china would be open, to making compromises on forced transfer of technology ip theft president trump wade. economy is doing unbelievably well we continue to talk to china, china wants to make a deal -- the question is do i want to make a deal cause i like what is happening right now year taking in billions and billions of dollars. >> joeng me right now lavrover associates chair will former a regular advisory art laffer. >> high maria, thank you great. >> you want to see trade deal with china because you said on this program before if we get trade deal you are talking about dow 30,000, and then some, by the way, now only -- we're 27,000 already but i know you this i that is going to case a big rally in the

markets, but should we be buying into every headline the chinese are putting into our markets? markets have completely reversed course we are looking at rally start of trading because the chinese morning post is saying that the u.s. is considering delaying tariff increases i am hearing differently from my sources. >> i have no idea when is true, by the way, this whole thing of china and trade deal like a ping-pong table you watch one watch the other bouncing back-and-forth if you try to follow this and really do your investments along the you are going to go kraid we will see if something what happens i am sure a really good deal will have a good market effected as well. that will be happening. maria: what about usmca art trade representative lighthizer meeting with house speaker nancy pelosi today to discuss trade deal pelosi said parts of the of the usmca should be changed before a vote, do you think it comes to the floor and what kind of an impact might that have on the market and the economy?

>> well i think they would like to have it come to the floor i think nancy pelosi is always wanted to get it through has been so consumed by impeachment stuff intut i think she does want to theed g it through getting it through i think will happen, i don't know what type of modification she is going to make on usmca, but the bill is a great bill, it should be passed and should be a big trump victory, i think already by the away i think baked into the market i don't know -- what you think on that i do think baked into the market. maria: i think you are right. >> really an important bill and good bill to have. maria: yeah. >> art great to see you robert wolf we have to call you -- >> how are you you know more about nancy pelosi and -- plan she is going to get it through isn't she robert. >> i think we have to call you mr. now recipient of the presidential medal of honor just the -- i got. >> two things on china, we were talking before, to me it is literally policy versus politics. we want a deal toing through, but the more that the president shows that he is

hammer themselves politically i am not surprised ping-pong continues to wavr on seems eternity. >> usmca as you know i am a support i ways support of tpp all trade agreements i think we -- can't have barriers around our country that being said i do think democrats republicans for it seems to me a couple outstanding issues on the labor and environment that we have not been able to -- to kind of smooth out, do you think we can smooth that out before year-end? >> i think should be able to smooth out before year-end i really don't think huge entitlemeni am peedments the timing is very important politically no point doing fast the political impact is much, much less. and i think both china and the u.s. feel this way, i mean china has political problems

robert with hong kong and all and economy, and they would like to have a deal i think trump wants to get the best deal he can. and, sefrngz his purpose as well because really good. serves his purpose. >> liz peek. >> recent weeks hi. >> hi. >> chatter about a middle tax cut seems incredibly improbable will they campaign on it is that a forceful message right now. >> i am not political judge of a forceful message or not forgive me not answering that let me say under ronald reagan from 15 to two tax breaks 15% and 28% the direction i think president is going to troo on middle class tax cuts a much

simpler tax code flat tax code a middle class growth prosperity continue it is the most amazing economy right now liz as you know, it is just a phenomenal economy to expect increased boom would be wild crazy but i think about preserving this boom middle class tax cut would be excellent a great way toing to go. >> when trump wins we can do a real reform if not more. dagen: one thing about the marketed, the back-and-forth on this china trade negotiations, the market now has the federal reserve, as a wind machine at back balance sheets grown by i think 250 billion dollars in last two months, the fed would be poised to cut interest rates again you saw that in the minutes yesterday. if this if it drags out that itself one of the things you might not see a really dam attic reaction. >> i want your take on

contenders facing off last night what what your view of wealth tax is from elizabeth warren. >> well let me just say i think the reason the president is pushing the fed to cut the discount rate and more is really because of the rest of the world the rest of the world is having a really big economic problem and u.s. cannot disengage from the rest of the world, our discount rate is very high relative to the rest of the world the presidency this a good reason for reducing rates in the u.s., i don't see how powell fed could disagree with this logic it is purposely logical what the president is saying i think look at u.s. over time, you get a different answer, but i think u.s. global community right way to have think we should lower that discount rate. on wealthy tax maria we have had wealth tax historically in this country the policies that elizabeth warren is proposing and bernie sanders too are sequence of events that occurred from 1929, 1930,

1931, 32 on confiscated all private goals 6-billion-dollar wealthy tax gdp 57 billion at that time was devastating you can see the whole thing, if elizabeth warren full plan, were put into effect, it would be exactly the same as great depression my view i don't think that will last very long if they try. >> it great to see you this morning thanks to so much. >> what the polls show -- i could give a darn about what polls show economic shows this will be a catastrophe. >> the china morning post based in hong kong owned by alibaba jack ma bought that paper a lot of people think turned it into a mouthpiece for the chinese government who is reporting about tariffs this morning . . we'll be right back.

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>> welcome back 2020 presidential candidate billionaire tom steyer on "varney & company" later today host of "varney & company" stuart varney whoa stu i am going to be glued watching your interview. >> i've got two billionaires actually let me refer to tom steyer first of all, i want him to respond to this obviously, he is a billionaire he is a -- a claimat warrior have him respond to headline in the "financial times" i will read it for you rise of cool fired power in china

swamps globe emissions efforts, negating our carbon reduction in the world my question is why should we sacrifice are there not we have your friend and mine langone billionaire founder of home depot ask him about elizabeth warren calling billionaires free loaders could get interesting hope you watch. >> one hundred percent we will be there fireworks on "varney & company" see you at the stop of the hour begins 9 a.m. eastern after "mornings with maria" join stuart with important guests the sky is the limit for aircraft medics this an industry in 2r5i7k programs boom fox business grady takes a look. reporter: good morning. the aviation industry experiencing a massive shortage of aircraft mechanics behind scenes of a school training next jay, next generation coming up. ♪ ♪

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maria: welcome back, shortage of aircraft mechanics air lines strajdz to filled positions grady covered this live in lake superior college hangar. >> good morning, yesterday students here learned what they are doing tie, they learned it in classroom, you see them right now, getting the hands-on experience, fixing up an airplane engine, and the aircraft industry aviation industry experiencing massive growth the fear is that the industry grows what could actually slow it down a shortage in mechanics like this, one of the structures

here a boeing estimates 200,000 aircraft mechanics positions open in the next 20 years. that is a big demand you are training the next generation tell us about the program. >> sure, so in order to become any kind of aircraft mechanic you basically go through a school 8 months to get through once through school prepares you to take the nine tests for the fa three written, an oil and oral practical once you take tests praepz to you work on anything in aviation ranging from a, the hopper that we have colts general aviation, dplierdz anything that really flies that prepares them. >> students basically are all but guaranteed a job when they graduate maria because of this massive demand that they are trying to meet here, and good-paying jobs too as we talked about the need for jobs, like this, trade jobs, skilled labor, this is one of

them, good-paying jobs right here all across the country. >> thank you. grady live this morning the average salaries aircraft mechanics 56,000 dollars on screen the big news of the morning sources tell me charl charles schwab will acquire ameritrade final thoughts from all-star panel when we come right back. stay with us, ♪ my mama told me there would be days like this, oh my momma told me there will be days like this ♪ ♪ my mama told me ♪

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or trips to mars. no commission. delivery drones, or the latest phones. no commission. no matter what you trade, at fidelity you'll pay no commission for online u.s. equity trades. maria: welcome back. once again, the breaking news of the morning, my sources tell me in an exclusive charles schwab will acquire ameritrade for $26 billion. this deal will create an asset manager with $5 trillion in assets under management. the deal was finalized last night. schwab's ceo will run the combined company.

td ameritrade cfo steve boyle will be the interim ceo for ameritrade while they close the deal. we are expecting that announcement soon. i thought it was around 8:30 a.m. this morning. i think it's imminent. we will hear from the companies very soon. the stocks are on the move as a result of this reporting. td ameritrade shares up 23%. charles schwab up 10%. let's get final thoughts from this all-star panel this morning. we kick it off with liz peek. >> i will start with the fact that i think the market is completely ignoring the impeachment hearings. we really haven't seen any trading down or up based on that, i think the american people have made up their minds. they know the house will vote for impeachment and the senate will not. so all of this time spent and dollars spent and everything else, absorption of the media in this, 60% of americans say the media cares more about this than they do. i think it's a waste of everybody's time and i think instead, investors are looking at the fact that incomes are up, the consumer's up, we will have

a good holiday season heading into 2020. maria: deja vu on top of the mueller madness. robert? >> i won't talk politics, then. i want to first of all congratulate you for breaking the story this morning. i think we all said this is going to be good news, and both stocks are rallying. this is a really smart move by charles schwab. i think it will be the beginning of more acquisitions because the best way to gain assets is to aggregate them. maria: good point. >> write this down. college score card.ed.gov. people can go and look and see, you graduate with a certain degree from a college, how much debt did you have, what did you make in your first year. it covers schools, majors. it's incredible. we will talk about it more tomorrow. maria: have a great day, everybody. thank you for joining us. we send it to "varney & company" right now. stu, take it away.

stuart: good morning to you. good morning, everyone. full disclosure. i did not stay up to watch the debate last night. i don't think i was alone, by the way. the debate tv ratings have dropped off big-time. i did watch the reruns very early this morning. my conclusion, no clear winner, no knockout punches, no breakthrough that i could see, which means the democrats are stuck with a huge field of candidates and policy splits every which way. kamala harris got into a mild clash with mayor pete on race. biden clashed with warren and sanders over medicare for all. warren went after billionaires again with billiai