tv Varney Company FOX Business April 8, 2021 9:00am-12:00pm EDT
maria: welcome back. morning mover, gamestop shares up foreign half percent. ryan will become the company's chairman. reddit investors boosted its stock trading later this year. a big thank you to janet caldwell and mark tapper. great to see you. have a wonderful day. we will see you tomorrow. "varney & co." begins right now. take it away, stu. stuart: it good morning. senator joe mansion is now more powerful than joe biden. that's only a slight exaggeration. west virginia democrat has put the president's far left agenda in doubt he is the one to stop it or at least tone it down. matching says yes to the filibuster, keep it and it know to reconciliation, that means major legislation will require compromise between democrats and republicans. he is no fan of huge tax
increases or the green new deal and without his vote the democrats cannot get all of their radical agenda through the senate. bernie sanders, aoc, elizabeth warren will not like this. of the administration is in trouble at the border , the governor of texas says child migrants are being abused and he wants at least one migrant facility closed and ms-13 gang member and two more terror suspects arrested at the border. border crossings are escalating. it's now an open border and vice president harris has no plan to visit. one more news item which we will hear a lot about today, the masters begins and it's played in augusta, georgia, so it's wrapped into the voting law controversy, politics in the sports again took fred ridley, the top official at the masters says he will not take sides. by the way, we are learning it was our
sharpton who pressured major league baseball to move the all-star game out of atlanta. we have a lot coming at you, the news on money and then news in a moment this thursday, april 8, varney & company is about to begin. ♪♪ stuart: i did not know that outfit, but there you go. well, to the show. the stories compromise, the president says he's going to compromise on corporate taxes. perhaps he's been forced into this position because of joe mansion who will knock along with major tax increases on business. perhaps that's helping
the market where we see modest gains for stock prices. right now the dow jones, a loss about 30 points, s&p up 10, but the nasdaq up 101 points. a big tech is doing really well. looking at gun stocks, the president-- i'm sorry, the president will announce several gun control measures trying to push that through a mix of executive and legislative action. we are looking at new highs for facebook, microsoft and google. microsoft at 252. big tech way up this morning, that's premarket and we expected to open higher. dr barton is with us. all right, big tech is on another terror. willie last? >> it will last and we had talked about these numbers before it lets me tell you why i believe it will last.
let's look at a 17% year-over-year revenue gain for microsoft, 23% for google, 17% improvement year-over-year for apple with these kinds of numbers and the we might get beaten down a little bit as we have talked about, by the dip because they will keep going until they start losing again and they are winning the game really big. that's not going to happen anytime soon that they will fall off. stuart: just give me an outlook for microsoft if you can. i don't mean to pick on my stock just because i own a bit, but i'm intrigued. it's a 252 this morning. where do you think it's going? >> lovely all-time high. you asked me three weeks ago for my pick among all five of the big tech and i gave you microsoft and i believe it still has 20 legs. they are executing so well across the cloud,
they are gaining on amazon. in each gaming they are doing so well. the new xbox is doing fantastic, so i see them tacking on more in this year. i think you could see double-digit gains from here till the end of the year and microsoft. stuart: you know how to make me happy. how about paypal, i know you like it and it's done well recently. do you think it's going out more? >> i do and that's another one of the stocks that got slammed at the beginning of the pandemic and and then grew amazingly from its low, but they are another company that is doing so well and they have pulled back. it's a chance to buy them at a nice discount, 14% discount. they have been executing so well. then mow, the peer to
peer payment group at-- app, it's right up there with facebook messenger as a top here to peer for the us so they are adding a 16%-- 16 million newly users last year, the payments processed were up 16%. they are doing really well. i think this pullback is a great opportunity to buy. stuart: that's a good pitch for paypal. hold on. on good idea with another subject and then i will get back to you. peter teal is a tech investor and he's calling bitcoin a chinese financial weapon those are his words to be used against the united states. ashley, what are his concerns? ashley: the billionaire venture capitalist paypal cofounder says the us government should
consider tighter regulations on crypto currency. teal says he's worried the chinese are using bitcoin to what he says karen road the us financial system. take a listen. >> i do wonder whether at this point bitcoin is also-- should be thought as part of a chinese financial weapon against the us, where it threatens money and the us dollar and the china was to weaken it also china long bitcoin perhaps from a political perspective the us should be asking tougher questions about how that works. ashley: big threat to the us dollar, but we should point out he also says he's very pro- crypto and a pro- bitcoin. stuart: working both sides there, all right. come back in, dr barton.
was your reaction to what peter teal had to say about crypto? >> it's no surprise being the founder of paypal that he is a bitcoin and crypto opponent, paypal one of the first big institutions allowing the use of bitcoin for payment and provided training for bitcoin through their portal, so that's another feather in paypal's, but i believe his concerns are very real. right now there is a huge war and, i mean, that in the real sense between minors in china and the us trying to get privacy, trying to be the top minor for bitcoin and that of course being state-sponsored on the china side, market-driven so there are real concerns of how this market may be manipulated in some way shape or form should
china be able to get enough of bitcoin of its own to move the market or to be able to affect the mining aside as well. stuart: all right, thank you for joining us. we have bitcoinat 57000 as we speak. let's look at johnson & johnson stock. it's not down much, but it's done a little. the us will get out 85% fewer-- less i guess you would save their vaccine and that starts next week. was the problem? ashley: that's a good question. neither the government nor j&j are saying why there's been a significant drop in the numbers of doses allocated. a "new york times" report last week said that workers at a facility in baltimore, which produced both astrazeneca and j&j doses mixed up ingredients of the two vaccines remaining 15 million j&j doses, but reports say the baltimore facility has not been authorized by
the fda and in none of the doses produced have been used for vaccinations. we should point out in colorado and vaccination site yesterday it was forced to close early after limited number of people began to have adverse reactions to the j&j vaccine. stuart: you wrapped about up and you will probably see more people hesitant to get that shot. thank you. next we will deal with amazon union drive in alabama. we understand is that a 55% voter turnout. never election was open to more than 5800 employees at the warehouse and they voted on whether to join the retail wholesale the promised her union. workers are pushing for higher pay, more break time and the public vote count is expected to begin today. according to the union, hundreds of ballots have been challenged by amazon, but the stock
looks like it's pretty close to an all-time high. as for futures, here's how we will open at 9:30 a.m. eastern, up big time for the nasdaq. big tech doing well. our southern border, i'm going to call it out of control. that's a strong statement, but i think it's accurate, so where's vice president harris? listen. >> like many americans she got a snack and i can she's allowed to do that. i don't have enough data when she will travel. stuart: the vice president has now gone 14 days without a news conference. she's been tapped to lead the border crisis and has no plan to visit president biden says he's willing to negotiate on lowering the corporate tax rate. economists peter morici reacts to that after this. ♪♪ ♪♪
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>> mr. president are you willing to go lower than the 28% corporate tax rate? >> i'm willing to listen , but we have to pay for this. there are many other ways we can do it, but i'm willing to negotiate that. stuart: you heard it, president biden is open to negotiating the corporate tax rate in his 2.2 trillion dollar spending proposal, this after key democrat senator joe mansion said he wouldn't support it and the president has to compromise. peter morici, an economist joins us. we will still get some kind of corporate tax
increase from the president 21% level, it will go out to something ; right? >> now democrats are coming to reckon with the fact that they get their money from corporate america and they may have campaigned on this position, but let's face it, jeff bezos another's generously contribute and support the democratic party. my feeling is the rate will come in lower, but historically we have financed infrastructure with fees and taxes related to its use. the compromise going from 2 trillion to 1 trillion focusing more, not completely untraditional infrastructure, raising the gas tax and recognizing without a corporate tax increase infrastructure will raise gdp and have dynamic gains. stuart: do you think we get that do you think instead of 2.2 trillion all the way down to 1 trillion, do you think that will happen? >> no, i don't.
i think they will find a way to lean on mansion. recognize he's not doing this on his own completely, there are moderate democratic senators getting leaned on by their donors and so forth and remember the broadsheets, people like comcast and so forth pay corporate taxes and they generously organize people to contribute to democratic candidates through their offices and of course we know what goes on on nbc and other networks, so my feeling is they have to do something, they have to make a contribution, but not nearly as large as 28%. stuart: i think we should be thankful for that. i want to talk baseball in the mlb's decision to pull the all-star game from georgia because of george's new voting law. edward lawrence will join us. he's in atlanta and he's talking to voters. what are they telling you? reporter: voters feel slighted by major league baseball and corporations. the conversation has
changed on the ground here and one voter i talked with, void for prince said even some of the emergency action that was done in the last election were made permanent by the voting law, but he says it's up to the people of georgia and no one else, not the white house or anyone else, but the people of georgia to sort this out >> should have been more bipartisan as opposed to one side. that always raises problems. but the other side came out with the bill long before was ever ever signed and that site-- that starts a whole other frustrating level. no one is talking to each other anymore. reporter: he's frustrated by the rush to action in the rush to judgment on both sides. in business owner i talked to yesterday heard a lot of things about the bill, but he did what many others have not. >> it was very frustrating to find out it was actually happening and then to do a deep dive, personal dive into the bill and
see what it was that was so offensive and not to be able to find all the things i was hearing were in it, very frustrating. reporter: faith leaders that called for the boycott have called for a postponement of the boycott because next week they will meet with some big multinational companies that do business in georgia. stuart: edward, thank you. let's go back to peter morici, major-league companies siding against this a georgia law. i can see real danger when companies are run by their own woke employees and i think a backlash is coming. what say you? >> i think so. its ceos shooting from the hip, these are deep and complex issues and if you look at the georgia voting law in some way they are more liberal than democratic states like new jersey and california army delta airlines requires a photo id to get on an airline, but we can't require a photo id to
vote? they should stay out of these things, but they have been weighing in any reflective response to keep the woke off their back because of the twitter wave and so on, but the most irresponsible statement was joe biden statements in the press conference a georgia would close the polls at 5:00 p.m. unlock the working class out by implication. that's really what's at the soft. the governor of georgia should be going after the president and the governor of texas should be going after the president on this trying to get a retraction and an apology and a statement. look where they moved the all-star game, to denver which is largely a white city. of the all-star game needs to come back or on not going to the nationals this year. stuart: okay, we hear you. i think these big companies are trying to curry favor with the democratic administration so they won't come down on them too hard. they are playing
politics and i think it ends dangerously in my opinion. peter morici, thank you. by the way, 10:15 a.m. eastern on this program we will speak to the governor of georgia, brian kemp. he used a strong words to describe the president and he will be on the show to back up those strong words later this morning 10:15 a.m. eastern. looking at the markets, pay attention to the nasdaq, home a big tech as they are on a terror all over again. we will cover it for you after this. ♪♪ ♪♪ i have an idea for a trade. oh yeah, you going to place it? not until i'm sure. why don't you call td ameritrade for a strategy gut check?
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stuart: just joining us, the big story is going to be the performance of the nasdaq. the nasdaq is doing well, up 118 points premarket. again this is preopening, preopening they'll, all the big tech talks up a significantly including microsoft. it's up over 1%, brand-new all-time high. greg us that this with and greg has been buying apple, facebook, netflix
and snap in the last two weeks. why do you think those companies, big tech, are the best investment for you to make now? >> good morning peter i have been a raging bull on your show since last april and tech has had a challenging few months. when i joined it two weeks ago i shared the theme song would be hamilton you will be back and that's what's happened in the last two weeks. led by facebook trading around 280 if you weeks ago, it woke up, and stole a line from the blues brother and said it's time to put the band back together so we seen a big rise in the tech stocks in the last few weeks particularly in the face of interest rates slowing their consent. we have to unpack what's going on in the market. you were probably in the best position to know that all we hear every day is how crazy things
are. we have an ft selling for $69 million, basketball baseball cards are most doubling in value, comic books trading for over $3 million, coin based at a hundred billion, s&p over 4000 and stuart m rating you to find me a buyer for my lunchbox collection behind me $400,000 which i will gladly donate to the covenant house. stuart: i'm sure you are open to offers. you just advertise, no problem with that, but why don't you tell me about the stocks you have invested in and what they are going to show when their earnings report comes out a couple of weeks because that's going to make a break these companies. are we investing in solid profits, solid growth? >> we are, tech is defensive and it's obvious, look around regardless of covid are not we are going to turn off netflix.
we aren't going to get rid of our iphones and we will stop playing from amazon soap tech is not only growth but it's also defensive. they have great balance sheet and cash flow with incredible secular trends on technology so incredible place to be and i think there is a gain of-- game of catch-up to do with the broader market because tech as had a challenging couple of months so i think we will see a turn up in tech and apple is poised to make new highs as facebook has and i think things trade higher. stuart: gregg smith, thank you. we will keep in touch and see what we can do for your lunchbox collection which we can now see on camera. >> very happy birthday to my best friend candace and a great year ahead. thank you. stuart: your happy birthday, friends, lunchbox collection on sale, come on. let's look at the
markets. 20 seconds to go and we will begin trading. any moment that guy will reach down, press the button and there you go ringing the bell. we are back to trading in a couple seconds. all eyes please on the nasdaq because that's what's going to move this morning. big tech will be on a tear. we have a-- well, virtually no change for the dow jones. how about the s&p? i think that is fractionally higher, all-time high on the way s&p, 4091. up a quarter of a percent and the nasdaq, 13700, up 107 points. show me big tech. we have been showing it premarket and here is how it opened with solid stock prices, microsoft 252. apple 128, google 2255
amazon 3300 and facebook 315. facebook, google, microsoft all time highs. on your screen, constellation brands, a major major global drinks company and they are down 4%. actually, i know they reported this morning, but what is the problem? ashley: they posted stronger-than-expected earnings, but the problem is profits fell from the year earlier as you see down nearly 5% to date. the company says it's beer boosted was boosted by strong performance through our premise channels. many bars and restaurants closed are operating at limited capacity and as for wine the kim crawford label was the stellar performer seeing double-digit growth and
also conagra reported before the opening of the, beating estimate sales. grocery and snack sales gained by nearly 11% and that basically means we are still at home, but food service sales fell more than 17% because of the lower restaurant traffic with the stock down to a percent. stuart: giant drinks company, giant food company, both down despite pretty good sales. i'm looking again stop, up 2.7% this morning snack in a three-day losing streak. the gulf-- cofounder of chewy has taken a position in gamestop and he will now be the chairman of the board at gamestop. his involvement helped to start the wild stock market ride earlier this year back up to 182. we have to look at gun the stocks.
president biden will announce gun-control measures that he hopes to achieve later today. he's giving the justice department 60 days to issue rules targeting all forms of gun violence. he will push the measure through a mix of executive and legislative action. that happens at 11:45 a.m. when he appears. i wonder if he will take questions? meanwhile, gun stocks up again. how about uber, those of us in new york know we have a driver shortage getting uber. you are laughing, ashley they are trying to entice drivers back. how are they doing that? ashley: the old-fashioned way with cash. uber unveiled a $250 million driver stimulus package aimed at attracting new workers as the company faces a post- pandemic driver shortage. they say there are many more writers requesting troops van drivers are
available to make them took the incentives will be used for special bonuses and a new guarantees over the next few months for both returning drivers and new workers. to give you an example, in austin, texas you would receive an $1100 bonus after making 115 trips. in phoenix the bonus will be $1775 after 200 trips. not bad. stuart: when you get an emergency check every week and $1400 every now and again, you don't go to work at uber so they have to issue some passion. thank you. how about cosco? it's one of my favorite stores. they don't have free samples as much as they used to because of the pandemic. they reported a 16% increase in same-store sales for the month of march with online sales
up 57% year on year up nearly when and how%, 363 on cosco. how about best buy? they are trying to compete with others, amazon and walmart. what are they doing? ashley: copying it really, unveiling a new program called best buy beta and for about $200 a year subscription you will get for installation and tech support, exclusive pricing up to two years protection on most purchases, free delivery and a concierge service to answer questions that will be available to you 24 hours a day, so at 3:00 a.m. when you can't find out where to put the battery then you have someone to answer the question. the pilot program will be available in about 60 stores by the end of the month and it's the latest attempt to generate more revenue and services to try to keep pace with amazon that really pioneered subscription services and retail. best buy service revenue accounted for 4% of us
sales in the fourth quarter last year, exactly the same as the previous year's quarter so they are trying to generate revenue in this space. stuart: i really like that idea because i don't find technology user-friendly. i have three clickers or remote said they should be called and i don't know which one to use to turn on the tv. anyway, i would pay $200 a year for that, i really would. on the screen we have a box incorporated which is down 12%. they have a big investment, but share price down. what's happening? ashley: the cloud computing company announcing a private equity giant kkr will lead a 500 million-dollar investment in the cloud services provider with the company planning to use most of the money for a stock buyback. the pricing and the amount of shares in the
buyback has not been decided, but we should point out the news comes weeks after reuters reported that it was exploring a sale following pretty harsh pressure from hedge fund star born value over at stock performance in the investment is expected to close in may, but the stock is hammered down 12%. stuart: just got this message from our colleague, here is why you can't get uber drivers, hold on new york will offer one-time payments of up to $15000 to illegal immigrants that lost were during the pandemic so if they were uber drivers they won't be now with 15 grand in their pocket. it's a great country. moving on. this is no laughing matter, there is a crisis at our southern border, but that's not house speaker pelosi sees it. listen to this. >> the fact is that we
are on a good path at the border under leadership of joe biden, we were in a bad situation under the trump administration. stuart: we are in a good path under the biden administration? please. former acting i.c.e. tom homan brings us the latest, appalling news from the border later this hour. it was once nose as a gas guzzler and now the hummer is back and it's electric. we have it for you and we will show it to you in a moment. ♪♪ ♪♪
[announcer] durán catches leonard with a big left. ♪♪ you can spend your life in boxing or any other business, but one day, you're gonna take a hit you didn't see coming. and it won't matter what hit you. what matters is you're down. and there's nothing down there with you but the choice that will define you. do you stay down? or. do you find, somewhere deep inside of you, the resilience to get up. ♪♪ [announcer] and this fight is a long way from over, leonard is coming back. ♪♪ ♪♪ ♪♪
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a center in michigan. how many miles do i get on a single charge? reporter: 300-mile range on this newly unveiled hummer. for comparison i looked up that mpg's on the previous homers and those were 10 miles a gallon so that might be attractive for those that want to hummer but don't want to pay for the gas. it has off-road capabilities. let me show you the inside. it drives well on the highway, and told, with hands-free technology that allows you to pass other cars without having your hands on the steering wheel. three electric motors, more than 800-horsepower and that's thanks to the zero to 60 in three and half second so pretty impressive vehicle. one of the more unique features is the crab walk technology making all four wheels front and rear go in a diagonal direction at the same time so the car
can basically move horizontally. i know you will ask about price and this one goes for about $105,000 and later in 2024 and will have a model starting around $80000. i asked that head of gmc it with the-- if the cost will be prohibitive and he said people are pay more for suvs and trucks, so he doesn't think so. >> we are getting to the point where similar price points at the entry level hummer gmc so i think those people may migrate to the hummer. >> that is that uv suv. you may have seen this and it could be more your speed because i know you are a pickup truck guy. this was previously unveiled and it will be on the road later this year and is part of general motors grand plan to go all electric, every single vehicle every model electric by
2035. stuart: did you know, grady trimble, that each of those wheels can be turned independently which means you can actually take the vehicle sideways. did you know that? reporter: that is the crab walk i showed. exactly and for people that aren't so great at parallel parking like myself, it could be a good feature. stuart: i want to get myself. thank you. look at tesla, they are reportedly delaying deliveries of the model s and x car, but stock is up. rob is with us, the host of tesla daily, a podcast on all things tesla. do you know what the problem is? >> we don't have much information. tesla said in their q1 delivery report that they are just getting ready to start production and there may
be a month or two behind that in terms of customers is a bummer, but for investors, probably not material tesla's production capacity is about 10% of the total for s and x. stuart: okay on the stock is up. who are tesla's principal challengers? we know there are challengers from electric carmakers in china, but what about general motors going all electric coming out with a fleet of electric vehicles, will they pose a real challenge to tesla? >> great to see electric of vacation happening. most companies are starting to get onboard. a few lagers like toyota not doing much, but it's good to see companies stepping up. in terms of the market it's a huge market and tv right now is probably 3% of the market. it's really a production arms race right now,
whoever can produce most of vehicles will sell the most and right now tesla is out of the game. stuart: so, will tesla keep its advantage in the years to come? >> i believe so. i feel like gm targets, as they said 2035 is when they want to be fully electric and tesla is there now. gm right now is targeting about a million electric vehicles per year in 2025 and tesla's target is more like 5 million and it's growing so it's a big market and i think everyone producing electric vehicles will probably sell all they can make. we like to compare electric vehicles versus electric vehicle, but it's really the automotive market as a whole we should look at. stuart: tesla will sell 5 million vehicles by 2025? >> that's roughly their target. they said 4 million but they have higher aspirations and by 2030 the target is 20 million witches seems hard to believe right now, but that is the target.
stuart: okay. rob, thank you for joining us. see you soon could test. 670 this morning. the governor of georgia, brian has strong words to describe the administration misleading narrative on george's new boating laws. watch this. >> how is the bill even racist? if you look at any form of neutrality, and telling people the truth, someone is lying here and it's not me. stuart: lying, he used the word lying and i will ask him about on the next hour when he joins me. 20000-- more than 20000 unaccompanied minors as in children in dhs custody. tom homan is mad as hell as are we all. he joins the next. ♪♪ ♪♪
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caught an ms-13 gang member trying to get in the country illegally. more importantly perhaps there are more than 20000 unaccompanied minors in custody as of right now at the border. tom homan is with us. governor abbott is calling i think one migrant facility to be closed in san antonio to be closed after reports of abuse of children. can you tell us more? >> great question. one thing we aren't talking about and i'm glad you asked is i.c.e. has family residential centers built for families mental, dental, pediatricians and education and they have everything that was built for the most vulnerable. at those facilities the beds remain empty because the biden administration doesn't want to seem like they support for private detention facilities, private prison corporations.
the best facilities in the country, so whether -- now they're letting millions of dollars in contracts to friends of the biden administration, people that worked on the campaign and transition giving millions of dollars to ngos who have no business running detention facilities. they are not running prison illumination act, they don't have standards as high as i.c.e., so what's going on is there contracting and they are not even competing for the contracts. if you are a friend of the biden administration want to open a detention facility, that's with tapping and i'm begging congress, have a congressional investigation. the best of beds for this vulnerable population remains empty why we were awarded millions of dollars to friends of the biden administration. it's ridiculous. governor abbott is right stuart: that's extraordinary. that's news to me, tom homan.
the fact there are really first-rate facilities unused because they were contracted for during the trump administration and its private and they don't even use them, that's extraordinary. look, the dhs secretary -- >> actually, these facilities were built during the biden administration, almond or obama we built these under obama. low, joe biden has gone to the progressive left. if we end for-profit prisons let's stop doing business with boeing. anyone doing business with the government is in it to make money so let's not shut down the best facilities in the country and award contracts to people that have no idea what they are doing. stuart: did you know that the secretary is going to the border today and did you also know it's his third trip and yes, it's close to the press.
last word to you. >> he's going to the border and hope he talks to the men and women of the border patrol that feel abandoned by him and by the president who this day will not admit there's a crisis. they have lost respect for the president and the secretary because they won't admit there is a crisis. stuart: extraordinary. thank you for bringing that very important news, tom homan. should be splashed across the front page of the "new york times", but it won't be. thank you. still ahead, brian brenberg, the governor of georgia, brian kemp, representative dan crenshaw, republican of texas and mike huckabee, second hour of "varney & co." coming at you after this. ♪♪
♪. stuart: get back to where you once belonged? no, thank you, i'm an american. good morning, everyone. it is 10:00 on the east coast. let's get straight to your money. that is what the program is all about. pay attention please to the nasdaq which is on a tear this morning. 13,800 is the level. 128 points higher. big tech, i get to that in a second. big tech is doing very well today. here is the 10-year treasury yield. it is down to 1.64%. maybe that is helping big tech. put it on the screen, big tech
where are we? plenty of green. only facebook is fractionally lower. apple nearly 130 again. microsoft at all-time record high, 253. google, i think close to a high at least. 2257 bucks per share. amazon, 3316 bucks per share. big tech doing well. bitcoin, 57,900. peter thiel, he is a tech entrepreneur, big-time guy, he calls bitcoin or cryptocurrencies, he calls them a chinese financial weapon. not hurting the price though. 57,800 is the price on bitcoin. drumroll, please. can we russell it up. mortgage rate day. big smile, ash, what have you got? ashley: how about 3.13% on a 30 year for freddy. that is down by the way from
3.18% last week. we had seven consecutive weeks of the rate going up we've seen the rate comb down as the treasury yields come down. as the labor market rebounds, demand for homes will continue to be extremely strong at least at this level there could be north opportunity for a round of refi's. people want to take advantage, if they haven't already of these very low rates. stuart: shall we tell them again, ashley, what you and i paid many, many years ago? i paid 12 1/2% in the late 1970s on my first house. what did you pay in the 80s or 90s, whenever it was. ashley: 1982, 16%. i thought it was a steal. stuart: those are the days. all right. ash, every now and again we'll remind the audience what we paid
many years ago. thanks so much, ash. now this, everyone. the biden strategy is clear, throw everything out there right from the start. huge tax increases, massive spending, yeah, the green new deal. it is a far left agenda. bernie sanders finally gets his hands on the presidency. hold on please, here comes joe manchin. he is a democrat but he is not a socialist. and he has just thrown biden's socialist agenda into real doubt. take heart, everyone. senator manchin says yes to the filibuster, keep it and no to reconciliation. let's not get technical. you foy what that means. you can't pass major legislation in the united states without compromise. that is the bottom line here. the administration has to modify its radical proposals. started already. president biden says he is open to compromise, to negotiate on
corporate taxes. that is not the end of it. senator manchin opposes the left's election reform. coming from west virginia, he is not surprised, he is not wildly enthusiastic about the green new deal. looks like joe manchin is more powerful than joe biden. i say good. bernie sanders and the woke brigade are trying to exercise far more power than the election actually gave them. they are trying to stick socialism down our throats. good ol' joe, manchin. the second hour of "varney" rand company is about to begin. ♪. stuart: all right. professor brian brenberg joining us right now, what do you think about? i say, i'm sure you heard what i got to say. i think the president has to tone down, at the very least,
really, really tone down those radical ideas, are you with me? >> it depends on a how much of a fight joe manchin put in the washington post. i loved it. hope he reads that in the every single morning. he is in for the most merciless attacks from his colleagues in the senate, corporations, press, amplified 100 times by social media. if he puts up a good fight, he gets people to join with him, kyrsten sinema, maybe jon tester, a movement that could moderate joe biden t will have to be more than the thin line of joe manchin, stuart, if its just him i see the way he caved on the covid relief bill, super superficial change. we'll get taxes and spends we can't handle if that ask the best he's got.
stuart: maybe i'm getting my hopes up too high, professor. what about the corporate tax plan the 28% rate he proposed originally corporations. i think we get a tax increase but maybe not 28%? what say you. >> i will believe it when i see it, stuart. i heard a lot about bipartisanship and unity, when i hear him open not doing 28% i don't hear him being open to that. i hear him saying the thing people want him to say. the proof is in the pudding. what will he do? even if we got a tax increase only 25%, not 28, that still puts us right at the very top of the corporate tax rate table because you've got to add in the state taxes as well. even if we go to 25, stuart, we're not in a good spot. what people don't recognize is our 21% rate, the rate that president trump brought us down to, that just puts us in the
middle when you had on the state taxes. we're not at the bottom. we're not super competitive. we're just barely competitive right now. i don't want to see us lose that, give away our competitive advantage in exchange for bigger government and more spending. that is not the trade that america needs, especially at this moment. stuart: you're shooting me down, left, right, and center, professor. i'm very sorry about that but -- all right. what do you think will actually come out of the huge, over two trillion dollar spending plan? i don't think he gets it all. what do you think will be on the chopping block for sure, on the chopping block. what do you think? >> for sure on the chopping block, i think, i think some of the health care moves that they're proposing might be on the chopping block. i think some of the education spending might be on the chopping block. maybe some green spending on the margin, stuart. i still think we'll get a bill
over a trillion dollars. i still think we'll get a corporate tax increase at least 25%. that is a lot of money. that is a lot of taxes. stuart, i'm not trying to shoot you down. i appreciate the optimism. i'm optimistic about america. i think we can grow like crazy but we got to get out of our own way and right now d.c. is the one place in this country that refuses to get out of america's way. if joe manchin isn't tough, we're going to end up with things that slow us down. stuart: all right. professor, that was a reality check. we appreciate it. brian brenberg, come see us again, okay? we like reality every now and again. check the markets, please, look at that nasdaq go, still up nearly 100 points. bring in sandyville -- vilory markets guy. new highs for microsoft, google, facebook i think. you say urge caution on big tech.
what's your problem? >> i think it is priced for perfection. a lot of the names are doing as well as they can. if we're in a scenario where you see interest rates continue to go higher, they have gone from 60, 70 basis points up from 165 i think we end the year at 2%. i think that will continue to pressure large technology stocks. stuart: why? >> i just, i think there is many more pockets of value in the market when you look at some of the smaller cap names and some of the more value oriented names. i rather steer towards those as i see almost kind of not musical chairs, but something along the lines of you know, just stocks that are just priced way too expensively. stuart: but look, if i buy into big tech stocks, i know i'm getting enormous profitability. i know i'm buying into a company which has tens of billions of dollars in cash. and i know i'm buying into a company which has huge market
share which is expanding in this most important area of the entire economy. that is why i'm big on big tech. where am i going wrong? >> yes. if i look at where we are in the cycle, you know if i look towards, you know, if you look at the s&p 500 which is, you know, about 28% big tech whereas the russell 2000 is more like 12% in technology shares i would rather be closer towards that. i think these names moved up a little bit too high. we would like to steer out of the way. look where we are in the cycle now. in a recovery. i think you will see a little bit of inflation. i think you will see higher rates. that will do real shirks really well for smaller cap shares as opposed to, as opposed to large cap tech which could be under pressure. stuart: you're the fourth generation family member do run that business. we appreciate that.
i'm north selling my microsoft just yet, young man. see you soon. >> thank you, stuart. stuart: democrats definition of infrastructure is pretty broad. watch this. >> investing significant amounts of money in dealing with cancer alzheimer's, that is infrastructure of a nation. stuart: yeah, but, roads and bridges? live report from d.c. just ahead for you. vice president harris is in a chicago bakery as the border crisis escalates with m 13 gang members among those caught, trying to cross in. texas congressman dan crenshaw has a thing to say about that. he is coming up shortly. first though president biden call's georgia new voting law jim crow for the 21st century. the governor of georgia says the president is lying. that is pretty strong. i will ask the governor about
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stuart: special guest joining us right now this morning, the governor of georgia, mr. brian kemp. welcome to the program. great to have you with us. i'm raising this issue. you used a very strong word to describe the president. you associated him with lying. you used the word. you want to back that up? it's a very strong word? >> stuart, the truth hurts. look at the washington post, they gave the president four pinocchios what he was saying about georgia's bill referring this bill to jim crow 2.0 or jim crow on steroids. he needs to look at his own
state. that is what i would ask your viewers to do. in georgia, you don't have to have an excuse to vote early. we have 17 days minimum that georgians can vote early. in delaware you have to have an excuse to vote early. he is definitely lying about the bill. he should be more truthful or just simply get his facts right. stuart: we understand that, it was al sharpton, stacey abrams and lebron james who got to the major league baseball commissioner and persuaded him to move the all-star game out of georgia and into colorado. have you, did you speak to the major league baseball commissioner at all? >> i have spoken with him a couple of times. both very short conversations. the second time i basically him telling me they were moving the all-star game. i told him what a bad idea that was. i told him by doing this, you know, there is nothing will ever
be good enough. i called out stacey abrams for creating the biggest flip-flop since joan kerry on this issue. she is pressuring major league baseball to move the all-star game out of georgia sending out press releases, urging the game not to move or boycott the state. she cannot have it both ways. her position is hurting business owners in georgia while lining her own pockets. stuart: coca-cola, delta air lines, took a very strong stand against georgia's voting law. did you speak to either of those of ceo's? >> no, i haven't and that is the height of hip pock express sy since both of their government affairs teams was actually in the capital being part of the legislative process when the final version of the bill got presented and passed by the general assembly and obviously i signed that. there was no reservations raised
then. they were fine with the bill. delta basically saying that. as usual it was not good enough for the cancel culture and stacey abrams and all these other ceo's that don't even live in georgia. they live in states that have more restrictive voting laws than we do that were pressuring delta. and they came out and changed their position. not knowing the facts of the bill i might add. stuart: we have all these major corporations taking an anti-georgia voting law stance. i think they're responding to their own woke generation employees, who are pressuring the ceo to come out publicly and oppose what you have done in georgia. you think that is accurate? that it is the woke employees of this companies droving this. >> definitely. there is an agenda by stacey abrams by all these groups around the country and activists
shaming corporations to take positions that are quite honestly out of the mainstream. stuart, the good example, the state of kentucky passed a voting bill i think for the first time they're adding three days of early voting. we have 17 here. all these other states, like colorado, where the all-star game is being moved, they have a photo i.d. requirement for in-person voting. they have less early voting days than georgia does. are they asking people to boycott there? this is a political agenda that makes no sense. i will tell you every day that goes by the truth continues to get out this bill expands access, secures elections and makes it easy to vote and hard to cheat in georgia. people are realizing, even these corporations they're being played here. stuart: will the state of georgia take any action against the corporations which are bad-mouthing your state? >> well that remains to be seen. i can tell you that a lot of
legislators that i know are not happy. they're working with a lot of these government affairs teams and you know in ernest discussions and working through the process, the political process. they are not happy. they are not happy with how outspoken this is. they're not happy with people not even coming out and saying what specific you know, part of the bill they don't like. or what is, you know what is the issue that they have? they're not saying that. they're making the blanket statements that hold no water quite honestly. joe biden is doing the same thing. in major league baseball, what i think is one of the worst decisions i ever seen in our country, politicizing the great american pastime. it is terrible for our kids. it is terrible for the small business people and hard-working georgians that are getting screwed by pulling the all-star game. they're going to a state that is no better than us. we have a 51% african-american population in the metro atlanta
area where the all-star game was supposed to be. moving to an area in denver, great town, but it is 10% african-american. so they're hurting people they're supposedly trying to be helping not in the voting bill we just passed. stuart: sir, you were one of the first, i think you were the first state in august of last year to start rolling back some of the restrictions on business and personal activity. and as of today you're rolling back more covid restrictions in your state. how are you doing? how is the economy of georgia doing? >> doing great. we reopened well before august. you know, early, late spring i believe it was the days are running together now but we've been almost completely reopened for a year. we had some restrictions on things like in-person dining, movie theaters, things of that nature, bars, but we're fully open now. people know what to do. they know how to protect their
customers. i have great trust in the business community in georgia. restaurants and things that don't have restrictions now. some of them may keep the status quo for a few more months. some of them may go ahead and make the change and open up further. i think that will depend where their customers are. i have confidence that small business people and hard-working georgians can figure out how to do that. but our numbers are great. our hospitalizations have been down. our cases are down. we've given a million vaccines doses in the last 15 days and continue to get that job done. we've got, gosh, you know, i don't know, 85% of our seniors vaccinated. so we're protecting the most vulnerable. our nursing home cases have plummeted. so we're protecting those hit hardest. we're not letting our guard down, stuart. i'm continuing to urge people to use best practices but we can't go through another year like we did last year and certainly our revenues and unemployment is doing better than most around
the country. stuart: it is indeed. the governor of georgia, brian kemp, thank you, sir, appreciate you being with us today. come again soon. >> thank you. stuart: a related story, the masters starts today and the masters chair, fred ridley will not take sides on the georgia election law. steve harrigan is in georgia. the latest on the masters, please. steve? reporter: that's right, stuart. unlike major league baseball which decided to move its game out due to georgia's new voting law, no move by the masters which began this morning 8:00 a.m., augusta national country club. the chairman said others may decide to move the goal of that club is to stay put to try to help the local community. >> there have been calls for boycotts and other punitive measures. unfortunately those actions often impose the greatest burdens on the most vulnerable in our society. in this case, that includes our
friends and neighbors here in augusta, who are the very focus of the positive difference we are trying to make. reporter: so no direct criticism there from the chairman of georgia's law. a number of players were asked about the law as well. most expressing the importance of voting. one biracial player, cameron champ said he was disappointed with the georgia law. >> i think a lot of people are very disappointed to see that. as you can tell it's, it really targets, you know, certain black communities. makes it harder for them to vote. which to me is everybody's right to vote. to see that was very shocking and obviously with mlb and what they did, moving the all-star game was a big statement. reporter: that three-day event will be at coors field in colorado this july. stuart? stuart: got it. steve harrigan there, thank you very much, steve. more than 20,000 migrant youngsters are now in u.s.
custody after crossing our southern border. it's a disaster. it is a dire situation. we've got a live report for you from the texas side of the border straight ahead. first though, president biden using the power of his pen to take some action on gun control today. i will ask texas congressman, former navy seal dan crenshaw what he thinks about all of this. gun control from the president. we'll discuss it in a moment.
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♪ stuart: it is 10:30 eastern and the market showing a nice gain at least for the nasdaq. modest gain for the s&p and downside move, small, for the dow jones average. that's where we are. apple, 129.35, getting close to 130 bucks a share. the global chip shortage reportedly affecting the production of new ipads and mac books. but iphones have been spared. 129.45 now on apple. the chip shortage hitting general motors.
they're extending shutdowns at several plants. they estimate will cost them, this chip shortage, $2 billion this year. gm back to 59 where it was a year ago, by the way. look at this, 172,000 migrants apprehended in the month of march, just that month as they tried to cross the southern border, up 71% from february. that is a surge. alex hogan is at a border town of texas of hidalgo. do the agents expect that number to go up? reporter: the border agents i talked to they have never seen it this busy. the past week, one day alone was busiest, they stopped more than 3,000 people just here in the rio grande valley. there is a sad new number, more than 20,000 children are in u.s. facilities. disturbing details inside one of those facilities, texas governor
greg abbott is calling for an investigation after reports of sexual abuse and neglect for children inside of a center in san antonio. meanwhile a group of republican congress members visited the border. they say they visited the donna facility where there was an area that was meant for about 30 children. instead they saw about 500 there. so clearly not meeting capacity and congressman jim jordan from ohio calling the entire immigration situation complete chaos. >> last month was the busiest month in the history of the border patrol since they have been keeping records, since they have been keeping data. reporter: growing calls for the president or the vice president to visit the boardedder themselves the envoy for the northern triangle will return today after conversations in guatemala and el salvador to address the root causes of migration. >> we have numerical measure,
any kind of tangible measure of success? >> this is about addressing these causes over the long term. unless we address root causes in these countries we are going to see the same cycle of rushes to the border year after year as we have seen in 2014, in 2018, and 2019. so, we're going to look to how we can work with these countries reporter: the department of homeland security secretary alejandro mayorkas will be here in the reowe grand valley to top to meet the border agents and see the challenge for them. stuart: that will be closed to the press. no press. he will visit. no press. alex, thanks very much indeed. extraordinary. white house press secretary jen saki snapped at reporters after they asked why vice president harris had a time to visit a bakery but not the border. watch this. >> address the perception she is quietly backing off?
>> the vice president was visiting chicago to talk about covid and the importance of communities getting the vaccine when it is asable panned accessible to them. and so while she was there like many americans she got a snack. i think she is allowed to do that. stuart: gentleman on the right-hand side of the screen, congressman dan crenshaw, republican from texas, former navy seal by the way. welcome to the show. i'm sure you've been to the border, you've seen the crisis first-hand. what do you make of the dhs secretary mayorkas visiting, no press today? what do you make of that? >> of course not. imagine if the trump administration had done that? i was first member of congress at the border this year. i went a couple months ago and back then it was already culminating into a crisis. now it's a full-blown crisis. we have more illegal crossings and apprehensions this year in 2021 than we did the entire year of 2020. we had this under control. what the biden ad min station
has done is very deliberate. we're wringing our hands because kamala goes down to the border, say mayorkas does, so what? they don't want to change this. this was deliberate. they took willful steps to eliminate remain in mexico, asylum agreement and stop building the wall. more important to send a signal to people they're welcome here. when we catch you we'll release you. over 60% of family units that are caught illegally crossing the border are released into the interior. very low chance we'll ever see them again. they're creating this crisis on purpose. on top of all that, what do they do in congress? they propose legislation puts the vast majority of illegal immigrants on a path to citizenship. look, disabuse ourself the notion they're incompetent. they're not incompetent. they're willfully doing this. we need to create public pressure and backlash to stop reverse course. stuart: we hear you. congressman, i hope you watched
our interview with the governor of georgia. gaat, brian kemp just a few moments ago. he was calling out these companies, major corporations, which are critical of georgia's new voting law. i believe you're calling this kind of politicization progressive fascism. that is strong stuff. you want to make your case, congressman? >> yeah. i think that is the right term to use in this case. some people call it cancel culture. cancel culture is a tool, but it's a tool of the facial independents. what is fascism? fascism regimentation of the economy, of society. suppression of the opposition and it often he will have its race above the individual as well. so what does that sound like to you? it sounds like these woke progressives in every respect. you see antifa roaming the streets calling themselves anti-fascist while they act as facial its. what is happening now the progressives have been able to conscript the institutions in
their camp and make them do their buildings bidding for them, whether corporations and get them to spread the lies and propaganda for them. anybody who disagrees with them is labeled a racist. this is what i mean by the forced suppression of the opposition. this is why we should be calling this progressive fascism because they're making sure that no other ideas are within the norms of debate anymore. they want to bypass debate. that is what cancel culture is designed to do, deplatform, destroy somebody, bypass the norms of debate. make you think that what you believe, the normal common sense things that you believe, hey, if should have i.d. to vote we know who you are, already voted, crazy, right? bypass that normal debate. call you a racist, call it jim crow 2.0. the corporations are a part of this. we should be labeling it for what it is. stuart: progressive fascism, well-said, congressman. thanks for being with us.
we appreciate it. come again soon. >> good to be with you. stuart: next case, is it time to ditch virtual mask -- masses as in religious service. officials are pleading for the faithful to get back in the prue puws. jonathan morsi here next hour. stuart: there are big implications for how they want to use your tax dollars. after this.
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now show me dine brands. why are we showing you that? because they own ihop, formerly known as the international house of pancakes. that company will hire 10,000 new employees to meet demand what they call a restaurant renaissance in the coming months. investors like it. the stock is up 1 1/2%. democrat senator gillibrand being knocked on social media for referring to paid leave and child care as, infrastructure. republicans are firm infrastructure should only refer to things like roads and bridges. jacqui heinrich what is going on here, jackie? a fight over a word? reporter: good morning, stuart, the gop had a field day with the tweet from senator kristin gillibrand that sums up their whole point that president biden's definition of infrastructure is stretch even beyond what some economists recognize and they're calling that violence to the english language. gillibrand tweeted paid live is
infrastructure, child care is infrastructure, care giving is infrastructure. that set off staffers in majority leader mitch mcconnell who joked we're all infrastructure. they are defending a narrow definition of what infrastructure really is. mcconnell remember the last bill the democrats rammed through congress was covid relief until it passed but suddenly it became the greatest poverty initial tiff since lbj or something. and. items republicans say have no place in a infrastructure bill including $400 billion for home-based care. $35 billion to study climate change. $35 billion to prepare for future pandemics and 100 billion for job training initiatives. critics say that should be in a jobs bill not in a infrastructure bill. to democrats these things are really tied all together. >> expanding the louisiana purchase, lewis and clark, expeditions and the rest, they,
and so, this was the plan. they built a cumberland road, erie canal, big, think big and transformative about infrastructure. reporter: "politico" playbook broke down the bill into five categories. definitely infrastructure. seems like infrastructure, infrastructurish. distant relative of infrastructure and not even close to infrastructure. stuart: jackie, that is really good. come back to tell us again soon. thank you very much, jacqui heinrich. all right. serious stuff now. d.c. warning hospitals are seeing more young people admitted with severe covid cases. break this down for us, ash. what is going on? ashley: yeah, stu, they're seeing more and more younger adults in their 30s and 40s being admitted with, as you say severe cases of covid-19. it comes as more variants of the vie are being reported.
highly contagious b 117 variant from the uk, has become the dominant strain circulating here in the u.s. scientists say the new variants are more transmittible and some may be more lethal as well. the uk variant by the way is 50% more transmissible than the original coronavirus strain. that is what we're seeing. younger adults, 30 to 40 years old. stuart: we are indeed. ashley, thank you very much. total change of subject. you heard about electric cars. of course you have. they're taking over. how about electric boats? they may take over the boating industry. i'm going to talk to the creator of the fastest electric boats on the
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to reach 50 million low-income americans with the tools and resources they need to be ready for anything. i hope you're ready. 'cause we are. stuart: you may not be surprised to hear that the price of cardboard boxes like those amazon things that get delivered by the trillion it seems like, well the cost of cardboard is
rising. jeff flock is, here is where we find him. he is in a box facility in indiana. there he is, bright and early. why are cardboard prices going up so much. reporter: because you're ordering too much, people are ordering too much on amazon. do you even use amazon? i'm not sure you do. you're like me probably going to pick the thing up at the store. this is where it starts. too many people are ordering on amazon and other places with the pandemic. this is what though call craft. this is the paper that starts to make cardboard boxes t comes in the huge rolls. six tons of role. i think i ripped that one. that is fine. on the outside of the box. it goes through a huge machine, a place caldwell much packaging in elkhart, indian. andy, you're going 24 hours a day, non-stop. >> we're operating three shifts, full time. we run eight million square feet every day off of this cora
gator. reporter: i want to show you the machine. put the numbers up. how much, you learn in this industry, don't say cardboard. >> right. reporter: it is called corrugated material? how much did the business turn out? >> 407 billion square felt. reporter: for you and viewers, stuart, i want to show the machine that would be enough to cover the state of connecticut and new jersey completely with cardboard, which some people think may not be a bad idea actually. can you keep up with the demand? >> it is tough. the real bottleneck at the mills that actually provide this paper. there has been a tremendous backlog. we used to be able to get paper in a week. now it is taking six to eight weeks to get this roll stock. reporter: has to come from the trees. i want to show stuart, the end of this machine. this is called a core a core a .
they made the things inside what people call cardboard boxes. this is entire football field long. i leave you with the mills and this street, starts with the trees. if you guy with a tree farm that would be a job to have. >> that is where it all starts this is pretty much a pinch point. reporter: got you. i don't know if you know anybody who has a tree farm but they should be doing okay now. stuart: i grow hardwood timber, not the stuff that goes into cardboard boxes. i thought, jeff, all that stuff was recycl? reporter: 95% recycling. pretty crazy. stuart: exactly. thank you, jeff. you're all right. next power boat sales, they are skyrocketed during the pandemic. 13-year high for sales. our next guest is expecting that voting boom will continue, well
into 2021. look who is here? vision marine technologies ceo is with us. alex, with a difference, because you do electric boats, don't you, alex? are you expecting a boom in electric boats? tell me. >> morning. yes we do have. we are having a crazy year this year and we are doubling our numbers for about four years. especially with the launch of our new out board, emotion 180, people are very happy to get a real electric outboard on the market. we're doing the launch of the electric outboard in less than 30 days. it will be possible for any boat user to purchase a brand new boat to have electric outboard. that is mercury. you will never see a different between the electric out board and the engine out board. we're listed on the nasdaq in december, we got tremendous
amount of inquiries from people around the world. stuart: alex, to me, one of the big advantages of an electric car, a car, is the extraordinary acceleration you get. do you get the same acceleration when you got an electric boat? >> yes, you do. actually, there is no smoke, there is no sound either. that is like a car. actually it's a car. like a car. same motors. >> what's the price of the boat that you're standing next to? >> actually we don't build that bolt. we'll be supplying that company some electric out boards. the price of an electric out board is only 5,000 more than a regular engine outboard. basically i think, answer to your question, it is $5,000 more than a out engine out board 200-horsepower. stuart: 5,000 bucks more for the engine, electric engine, 5,000 more than internal combustion
engine? >> correct. stuart: people paying 5,000 more. alex, you're on to something there. i hope the rally continues for electric boats and power boats in general. thank you very much. we have another big however coming up for you. former governor mike huckabee. ken cuccinelli, dan henninger, jonathan morris. a uber liberal wealthy area in california is trying out a universal basic income program, not everyone, not for everyone. it's, i'm going to call it pure virtue signaling. stay with us please. i have the story for you on marin county. oh, point. [announcer] durán catches leonard with a big left. ♪♪ you can spend your life in boxing or any other business, but one day, you're gonna take a hit you didn't see coming.
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>> democrats are coming to reckon with fact that they get their money, you know from corporate america. >> even we got a tax increase only the 25%, not 28, that still puts us right at the very top of the corporate tax rate physical that's not the trade that america needs especially at this moment. j i think we're going see a big turn up in tech and apple poised to make new eyes as we saw facebook do in the last few days. maze moved up a little bit too high. hnch 17% year over year revenue gain for microsoft. 23% for google. 17% iphone sales because they are gong to keep going.
>> good to be alive. yes, it is -- and it is 11:00 eastern time, yes it is thursday april the 8 straight to your money look at this big story this morning is rally in big tech. nasdaq is up 106 point and show me big tech because they're going real strong again today. i've got new highs reported earlier -- hit earlier but microsoft got a 253. i saw a new high on google, alphabet as well. amazon is at 3,300 a share. only loser among big tech is facebook about and that's only down a tiny fraction. big tech rally this thursday morning. now, this -- from san francisco you drive across the golden gate bridge and you are in the marin county
sceneically beautiful. there's a place there called woods where you can see and view california's majestic red wood trees and it is a classic rich über liberal strong hold and look what they're doing now a universal basic income program starting in may, 125 residents will get 1,000 dollars each month cash no strings attached. there is, however, a catch -- only, quote, mothers of color end quote will get the money no men, no white women. why just women of color? because so the local authority says they are, quote, facing the trivial and insults of racial discrimination end quote superwealthy have bought full lie into the woke argument.
they are wallowing in their guilt. they are virtue signaling. but nothing will change. california still has the highest poverty rate in the country. it has superhigh gas prices, and electricity prices which really hurt poor people. and the children of those mothers of color they're not learning very much -- not very much at all if anything in zoom school. that's where they have to go. marin for elites home for gross hypocrisy. the third hour of "varney & company" is about to begin. look who is here governor mike huckabee governor, i came on pretty strong there. are you with me on this ridiculous virtue signaling that discriminatory programs that
they get into? >> you know, i didn't disagree with anything you said stuart the fact is if you reach into your pocket and you give money to someone you think needs it, that's charity. but when you reach into my pocket, and get my money and give it away to somebody, that's called theft. and a lot of these über wealthy people if they're feeling so guilty rather than to reach into the pockets of the taxpayers, why don't they reach deep into their own rather ample bank accounts, and give away as much as will make them feel better? they're perfectly capable of doing that, there's no law that says, they can't give away their entire fortune. and so if they feel that bad, used to be old thing give until it hurts give until it feels good. that's what i thought suggest to them maybe they'll feel a little bit better about life. stuart: talk about taking money out of somebody else's pocket. new york is going to offer 1 time payments of up to 15,600 to
illegal immigrants who lost work during the pandemic. we covered going back to work on this program, why should people go back to work if they've got a check for $15,000 from the government? >> all i can tell you they don't go back to work i was talking to manager of a waffle house who's having to use takeout orders in some of the restaurants because some of the employees are saying look i can't come back until june because that's when my stimulus check will run out. when you pay people as much to not work as they get paid to work, well people don't work. if you have a construction project going on as i happen to do right now, good luck finding people that ppght to come out and work until their stimulus check runs out. this is an outrage. work is greatest that i think makes our economy run. and the worst thing that can happen to an economy is when people are paid not to work when
they could be working. and what is happening and particularly with people who are not even here legally -- this is an outrage to the taxpayers especially the ones that on this very day while we're talking, stu, are going to be standing on hard concrete floors lifting heavy things going on tired and part of their pay check go to pay for this nonsense and i don't blame them or anybody else for being pretty ticked off about that. >> we've got a lot of turf so far governor and i want to cover some more specifically guns. later this hour the president is going announce a new executive axon gun control, i know you are a big gun supporter. should we be concerned about these new moves coming down the pipe? will they really have any effect? >> well, maybe i would correct and say i'm a freedom supporter i believe in liberty. nibble the second amendment. that i believe i have a right to protect myself, my family. the fact is, gun scrim crime is
an issue but you don't resolve gun crime on the part of criminals who are commitsing gun crime that taking the protection away from people who have never committed a crime and especially gun crime. so i know that president biden thinks that if we can just control the guns we'll control the crime. but some people use cars, some people use knives some people use clubs other bombs. there's a lot of different ways to hurt people. common is not the gun, the common is the person with criminal intent a person who may be mentally unbalanced but it is a person. that's the monodenominator find people get them mental health or find people who are angry, people who are potentially terrorists or people who are criminals. who are predators, that's who you need to control. and that's the common deno, ma'am tater of the crime problem we have in this nation. >> you covered three areas so well in about three and a half minute, govan. you're really good on television you should think about a career. okay? [laughter] >> there's no future in it. i don't think it will ever work
but thanks for thinking that anyway. [laughter] stuart: yeah. i said that if cable tv about 50 yearing ago governor thank you very much for be with us, thank you. now one of the themes on this program is if going back to work and the great reopening of our society of our economy. i bring in now luke lloyd now he's a market watcher. but luke told me that he recently booked a trip this was in february -- booked a trip to las vegas and he paid $50 for flight. what's parking lot price now, luke? is it i know it's gone way up. where is it now for that same trip? >> 600 dollars and not only stocks near lows but flights at their lows either you said back in february had i booked it was $50 round trip that same trip is now worth $600 i don't know if there's a better indicate that shows that people want to get out travel and go places. people want to spend money. hotels, airlines, restaurants, are all going to be jam-packed
this summer. the optimism in confidence of consumers and businesses has returned and the economy is about to get really hot so stu, you haven't made your vacation reservation for this summer you better get on it because it is hard to find places that aren't already filled up. j well what you're talking about here is -- the surge in back to work, back opening up the economy, getting the economy running again. so the end of the pandemic, so why do you like peloton because i think of that as lock down not opening up stock but you like it. tell me why. >> when it comes to stock market, the question you have to ask yourself is how much of the good news is already baked into the stock market? if i would say a lot of good news is already baked into the stock market. the s&p 500 is up 50% from one year ago. but even if a lot of good news is already priced in that doesn't mean you can't make money. here's a thing, you can't just buy market indices hope for the best we have a shopping list of
stocks that we wanted to buy that were too far out of our price range and high gross isoff we pick off names that came back to earth it has a stock picker market right now and those that can pick stocks are going to do very well moving forward. so talking about peloton you know, that's one of the examples of the stock that we picked up from the selloff even though people are going out, spending more money on traveling, and going out more, some trends from the pandemic are here to stay and peloton is one of those trengdz and working for drk workouts from home i haven't been to gym in over a year and i found out that i can do just as good with a workout from home. many of the people are just like me not only peloton provider hardware like bike and software and classes through their subscription service. people love subscriptions with new content and investors love reoccurring revenues. stuart: got it luke thanks so much for being with us that's interesting about that vegas trip don't lose your money on the trip. >> you should come out with me, stu. >> i don't gamble did you know
that i never ever gamble. it is just not me. >> they call me nights in las vegas because i gamble a little too much. stuart: all right. luke lloyd thanks for being here see you again real soon. all right on a similar vein here we've got a new budget airline launching this month, april, i believe. hey ashley avenue where is he going to fly to? >> based in burbank, california as you say by the end of the month begin flying to 11 airports and markets in the western united states. get this, with fares as low as 19 dollars one way, carrier was going to launch last year but the pandemic grounded those plans but now -- company believes it is a perfect time to take advantage of the rebound in air travel. strategy, of course, is to offer very low airfares to markets that have little competition places like -- grand junction, colorado, and
eugene oregon places normally have to travel vee why a major hub which brings its own challenges and begin with a fleet of three boeing 737s and then plans to add three more this summer. but 19 bucks pretty darn good. stuart: i would fly anywhere for $19. [laughter] all right ashley -- yeah. >> all right everybody, have you seen this? louis vuitton launching new hand bag in shape of an airplane. this purse will set you back $39,000. but that kind of money you can buy this -- real plane on ebay with a thousand dollars to spare. we thought we would bring you that. we have to show you this headline again. new york city is in a death spiral with rising taxes and empty office buildings. will the city ever come back? we're going deal request that one for you that was a new york post headline. and house speaker pelosi thinks
border situation is under control no problem. watch this. >> the fact is that we're on a good path at the border under leadership of joe biden, president biden -- >> good lord. former acting dhs secretary ken, i say he disagrees with that and he is on the show next. first, though, thursday's varnny trivia question, georgia has been underfire lately for its vote to id law. how many states in total have voter id laws? the answer after this.
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visit kohlerwalkinbath.com for more info. ♪ ♪ stuart: before break we asked you this question georgia has been on the far latest for vote or id law how many states in total have vote or id laws and the answer is -- 35 -- how about that? 35 states have voter id laws. all right -- now we've got a scoop for you. we're just learning that migrants released from custody are out to fly using something called alternate identification henry vaughn got this scoop and joins us now. what is going on with this, hillary? >> stuart i just got off the phone with someone from dhs this morning and they did confirm to me that in certain circumstances my graduates released on their custody are allowed to hop on a flight and fly to a different
state to unite with family members that they've arranged to stay with pending their court dates with custom and border patrol and i.c.e. but they also confirm to me that the government is not paying for these flights. migrants thmses their family members or mgo is picking up tab for this and did get confirmation from the tsa that four migrants that do not have a proper id to travel with, there are alternate identification that they have arranged with dhs to accept in these special circumstances. dhs also tells me that 100% of these migrants that are leaving their custody have passed a covid test but i still don't have really any answers how they guarantee that since all of this covid testing is done with state and local governments and mgos whether that information is then passed off to the tsa or the airlines or if these migrants are taking this proof of a
negative test with them as they travel. but stuart, the bottom line is this, a lot of people don't realize that this is happening. this is kind of brought to light by a reporter in mcalan texas who took photo of my grants boarding planes they said i don't speak english, this is the flight i need to take. please help me get there and they were flying stuart from the mcalan texas final destination written on envelope written newark new jersey so these are entering into border states but they're ending up all over the united states. stuart. stuart: what a scoop. good stuff hillary vaughn thanks for bringing to ugh on this program today we appreciate that. i want to bring in dhs acting deputy secretary ken let's deal with this i think you heard report there from hillary vaughn. alternate ids, seems to me that the democrats don't want voter ids, but they're perfectly happy to see illegals get on a plane
with no id. what going on i think it is deliberate. i think they are flooding this country deliberately what say you? >> yes. so stuart i think you're absolutely right so let's look at four things. one, they have intentionally opened the door to what's happening at the border. and you know it is intentional because they haven't taken a single step to slow that flow. that's one, two, at the same time they're putting two amnesty bills through the house they've already gone through the house sent over to senate and putting through an election bill hr1 that would sweep all of these illegals who come into contact with state agencies into the voter roles. so these things are connected, stuart, what you and i see it a crisis at the border. some in the left see as a voter registration line, and that's a real problem for america, especially given all of the other problems we have at the border right now. >> what do you think we can do
about this? i mean, ordinary citizens who see -- i'll use a word we're being invaded here i believe it is deliberate and i want to know what ordinary citizens. >> that's not a mote of stuart that is a technically correct use of the english language and gip your accent you know we expect that from you right -- so -- [laughter] it is an invasion when people who are not allowed to be here come for their own benefit and not for the benefit of this country that is an invasion. and that's what we're facing, suffering and it has all sorts of incredible consequences. some of them are going to spill into our voter system. but until they make any effort to slow this flow, what you saw last month of about 172,000 apprehended illegals that's to say nothing of all of the one who is got away -- will keep repeating itself and probably getting worse. so when you see dhs now
overloaded in its facilities, there's nowhere else to put anyone. so what do you do next month? and what do you do the month after that? well part of what they're doing is they're shipping them around the country. without ids amazingly enough. so i'm sure you know we can talk about delta getting down on georgia for their -- for their voting integrity law they just passed. but they require ids. unless perhaps you're and legal alien and the hypocrisy legend and what we can do about it is what we are doing about it. you're informing the american people one of the things underreported is the censoring of the media that has been going on. look at the two terrorists that came across the border. they a political appointee pulled down the public story about that as soon as they found out about it. that's king the with not letting media into overcrowded facilities. this is a -- a major aspect of the problem is
how they're not letting the american people and not letting the media have access to the problems they're facing on the border. stuart: ken please coming back to the program because this is a very, very serious issue, and you sir are well informed. we appreciate it. thank you again, see you soon. >> let's get to the border now money, look at this. the nays disak still done a really strong it is up 110 point big tax doing well this morning now look at this canopy growth that i buying one of their rivals supreme cannabis in a deal worth well 345 million dollars. this is the consolidation in the marijuana business, and it proceeds quickly. virginia just became first southern state to legalize marijuana, and ashley when do new rules actually go into effect? >> just a few months from now, stu the legislation allows adults 21 and up to legally possess up to an ounce it have
cannabis without intent to distribute beginning july first. it would allow the home cultivation of up to four plants per household that begins also on july 1st. but the public use of the drug will still be producted it will also be years before legal retail sales will be allowed. but the bill does lay out a process of creating new state agency to oversee the marijuana marketplace with sales beginning and regulations taking effect on january 1st, 2024. lawmakers say look, the bill a necessary step to wheangd they call treatment of people of color under the current marijuana law so july 1st, it is legal. stu. ngt won't be along until vast marmingt of americans have free access to recreational marijuana if they wish i think it is coming. good pretty rapidly. got you ash thanks very much indeed. how about this -- could one of the biggest movies
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easy-to-use software. visit paycom dot com and schedule your demo today. do they know this door is locked >> georgia you don't have to have an execution to vote early we have 17 days minimum that georgia can vote early, and delaware you have to have an excuse to vote early. so he's definitely lying about the bill he should be more truthful. or just simply get his facts right.
stuart: that was the governor of georgia brian kemp on the show earlier he did say that the president was a liar he was reacting to major league baseball's moving the all star game from atlanta to denver. edward lawrence is in atlanta right now, edward tell us what are voters saying there now? >> yes. stu i have not heard major complaints on the ground here against this georgia law. i have heard voters like see some minor changes to it. but the consensus here is they are tired of all of the lawmakers fighting both sides and they would like it see lawmakers actually work together to be able to do something here. the other issue that i've heard is that the rush to judgment possibly over false facts, that may have led to the all star game leaving atlanta area as well as condemnation from corporations it is that frustration there. listen. >> talking about it is the frustration of, you know, corporations trying to whoever
to think their bases or whoever think their customers are -- or whatever the politic says, and it is forget they have a business around them, and they also have other people based their business decisions off what they do. >> and he's also saying that nobody really is talking to each other just kind of at each other there. he also thinks that it is that voters of georgia that they're ones that need to be able to sort this out not the white house not corporations but vote rs of virginia are ones that need to sort this out. back to you. >> got you edward thanks very much indeed. now here's a headline for you it is an op-ed that is from "the wall street journal." watch this. look at it. yes, boycott baseball. liberals the past year have become addicted to political wokeness. it is time for an intervention oh -- look who is here, dan henninger wall street guy he wrote that thing he's laughing. all right dan what happened to old fashion liberals?
>> well, old fashion liberals, i think have just become adigitted to wokeness that kind of happened in the last year this thing with the all star game in atlanta is a perfect example of that. and you know, it's -- it's just they've gone too far stuart. what's happening in georgia over the voting law is a political battle between the republicans and the democrats, and we understand that politics is hard ball. but in our time, the progressive left and democratic party has reduced all of these issues to battles over race and so you actually have the president of the united states joe biden and calling the georgia law jim crow on steroids and in wake of that rob manfred head of the mlb under pressure decides he's beginning to move the all star game out of atlanta because the georgia legislature is presumably passing this racist voting law. i think enough is enough stuart.
there's a point here now where it is time for people to start pushing back and i think starting with boycotting baseball is a good place as any. you know, people like rob manfred assume they can get away this because fans will hoke it down and allow half of georgia to be smeared as racist and they'll just show up for the baseball games as usual. i think it is time to start boycotting things like baseball. coke and all of the other companies that are supported this move against atlanta. >> wow. wall street general guy -- on the editorial board, boycott baseball, boycott coca-cola, boycott delta earlies. my goodness, dan, these are strong stuff coming from you. go ahead, go ahead keep going. >> you know what, i'm not normally in favor of product boycotts i really am not. but it is gotten to the point where the wokeness is just overwhelming, and the only thing
these ceos understand is branding, right? they spend money of millions of dollars protecting and developing their brands whether it is coke or delta or iewb e or pathgonia and you know, five the left understands they can have 500 tweets like georgia law these ceos will think their brand is about to be destroyed by millennials. well maybe we need -- to send a wakeup call and let them know there are a lot of people out there like the fellow edward lawrence interviewed who said hey, we're your customers too pep and we don't like what's going on and only way to sending them a message is to boycott them. stuart: i know that you're a new yorker, dan of long standing. and you also know they're thinking about putting up taxes in the city and the state. do you think new york is and look at that headline in "the new york post." the bell for new york city
quality of life plummet taxes rocket, and city faces devastating future. does it face a devastating future? dan? >> you know, stuart you hate to say so -- new york is a great city or at least used to be a great city. but it is really facing dire future and the reason in large part is as we remember just discussing city and state have really fallen under control of the progressive democratic left. and their policies especially in the wake of the pandemic, the pandemic as those of us here in new york know about that devastating to new york city. parts of it still look like a goes town especially midtown office buildings are empty up there where our head quarters are. and in the wake of this they're talking about, for example, setting up a congestion tax which would tax commuters driving into new york city. that is last thing you want to keep doing to try to get people to come back after the pandemic.
now, the new york state budget with andrew cuomo weakened because of the sexual harassment chargeses, the progressives are just driving bull doze or through the budget, raising spending, raising taxes to the highest cumulative rate in the united states. a tax constantly on the police, and the practicings they have done in the last year. it is all incentive for people and corporations stuart, to move out of this city and to move out of the state. and once you get into a spiral like this, it is really, really hard to reverse. >> yeah. once they've gone -- you're not going to get them back with higher taxes and high crime. dan henninger strong stuff today we like that come back soon dan. see you later. the white house i'll show it to you there it is on your screen in just a few moments president biden is going to announce new gun control measures. we're going bring it to you live first gas guzzling hummer is back fully electrified back to
>> three, two, one -- zero. ignition and liftoff. >> that's spacex rocket blasting off from cape canaveral that was wednesday that launch, that single launch added 60 more star link satellites in space that means they put 300 satellites in orbit since the beginning of march. now this thing like that but that spacex for you. launch in 300 satellites since
early march. all right. now one of elon musk other companies that's neurolink they say they have the technology to build a real life "jurassic park." ashley, are we talking if real dinosaurs here? >> what could go wrong, i ask you? well have you watched movie you know exactly what could go wrong it is not a good idea but max cofounder of neurolink says tongue and cheek, they wouldn't be genetically authentic dinosaurs but maybe 15 year of breeding plus engineering to get superexotic novel species -- playing with us meanwhile last summer, neurolink unveiled a working prototype of a brain implant device that creators believe can cure everything from blindness to quadplegia, elon musk implanted in a pig said human trials could begin as soon
as this year. so maybe not dinosaurs -- but some really amazing possibility it is to the future. once again, stu elon musk is involved. stuart: they could be called frankenstein animals could they not? >> they could. they could tin deed. >> they could. [laughter] >> all right. thanks ash. general motors unveiling their new all electric hummers we have shown them to you earlier this the show tbraid did i trimble at the designer in there in michigan. you've got 60 seconds graddy to sell me an electric hummer, go. >> how about this stuart you can outrun a dinosaur in one of these things zero to 60 in three and a half seconds. three electric motors, it is got all sorts of offroad cape >>s like that crab walk you can move sideway which is we told you about last report it has also got tons of hands free function signalty and pass cars on the highway and then let me show you this feature which might be nice
if you want to do some offroading stu. all of these roof panel all four of them lift up entirely so you can have an open air ride and since there's no engine in the front of the vehicle like there would be in a gas powered, you can store those panel it is right in here if you want to take a drive with them up. if you think about the ev on the road right now a lot of them are smaller cars or smaller suvs. but when this one hits the road, in early 2023, this will be within of the first large suvs to do so. listen. this is feature after feature so first to market and early market and what it does will make the difference as well. >> and if the pickup truck is more your speed this one has a range of 350 miles and can get from zero to 620 in three seconds less than that three and a half seconds so how did i do, stu? >> sold. zero to 60 in three seconds --
for stuff like that irresistible i'm a little too old for that acceleration but nonetheless it is interesting. you did a great job there graddy i'm interested thanks very much man, see you later. coming completely different now. houses of worship forced to go virtual when the pandemic hit. some of them are struggling to get people back in the pughs i'll talk to jonathon morrison about that. he's on next. ♪ ♪
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you think of virtual church? didn't work for me. >> hey, you know what stu it is a little bit like phoning it in. and that's never good in life, in business or even in church. but maybe it was necessary for a short period of time. short period of time, but now it is 2021, it is team to pivot easter sunday has come let us get on to resurrection living. i do not think we should get in the habit of phoning in and anything we do. >> okay. faith leaders are telling people to love your neighbor and get the jab. get inoculation i think there's some christian groups, though, that are hesitant about vaccination can you go through the religious connotation of vaccination what's the religious point of view on vaccination? >> you know, i think short answer is you can't convince anybody to get a vaccination who does not want to be vaccinated.
i saw the response to people of people to me when i posted on my social media that i got the vaccination, people called me all sorts of nasty things. i think in time it is all about it trust, of course. i did all of the ethical research on it. and then the best i could the medical like look talking listening to best medical experts then you have to trust and say you know what the cost benefit of this, it is clearly in the favor of getting a vaccination. i think it's going to be best for reopening the economy, the best for reopening our society. i -- i did it myself i think it is best thing to do. >> did you attend virtual church, may i ask? >> i did for the first while. but as soon as they opened back up, i went and sat in the piewg i pugh i was looking for you. [laughter] stuart: i don't think we go to the same church. we have this out before -- i'm a episcopalian you want to
come to my side of the fence henry the 8th he wasn't such a bad guy. >> glad you recognize that that's the founder of your church. [laughter] stuart: he's good man you're sharp emged edged in debate is life treating you well, jonathon i love to backtrack a little bit here. you were a catholic priest you were on our show for years and years an years -- speaking about religion on catholicism you got married a few months ago, i was at your wedding. how's life treating you now? >> thanks for asking. blessings, and i didn't just leave the priesthood i requested permission from pope and he graduated that to me i think i did it in the right way. right now i'm working at exec teff coach to leadership development working with ceos of mostly private companies, giving them advice of how to be better leaders and i'm loving. absolutely loving it. >> have your talented deal with
the woke generation? >> you know, i would say the biggest difference the biggest difference between those ceos who are really making it and going -- going fast and furious coming out of this pandemic is not so much ideology. it is not so much dealing with the woke -- it is did you get back to the office or did you stay virtual? it's very simple. those who went back to the office, those who said i'm not going to let this pandemic change my ways of thinking -- and instead i'm going to pivot and be stronger at the end of this those are ones that are really strong right now. stuart: very interesting jonathon morris don't be such a stranger ab sent for months a at time we want you back and regular basis. >> you doafnght respond to my texts. stu you do not respond to my texts. it is unbelievable. stuart: not real good with technology you know that -- but i see you in church. >> text, technology is -- yeah. wow.
[laughter] stuart: see you later jonathon my best to your wife. now this -- cdc data shows the u.s. cutting back on the distribution of johnson & johnson's vaccine ashley -- this is a big deal why are they doing it? >> it is, boy you got called out by jonathon morris there wow. let's move on neither the government nor j&j are saying why it has been the significant drop in a number of doses being allocated. you know just over a 785,000 doses will be delivered next week that's compared to nearly 5 million doses this week. "the new york times" report last week have workers of a facility in baltimore which produces both astrazeneca and j&j doses mixed up ingredients of both vaccines and that ruined 15 million j&j doses maybe that's behind it. but reports say all facility have not been authorized by the fda, and none of the doses
produced there have been used to vaccinations meantime in colorado, a vaccination site closed earlier yesterday after a limited number of people began having adverse reactions to the j&j vaccine. that is not good news and we'll have to wait to see what's behind the lack of deliveries next week of j&j. stu. stuart: got that right. thanks ashley. i promise more varney after this. . . .
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stuart: may i remind you to send in your "friday feedback." you can email us at firstname.lastname@example.org. very special edition, tomorrow. because susan is not with us. she is off for the week. it will be just ashley and i, the british edition. neil, it is yours. neil: stuart, thank you very, very much. we're following a couple of developments you were sort of teasing, stuart. we'll hear the president outline plans to tighten gun restrictions shortly at the white house. i first off want to thank my mutual friend david asman filling in my absence yesterday. david is an amazing hard worker. i value job security so i'm back here today. a couple things we're following the president's announcement, can he do this by executive order? there are at least six of them. we're watching what happens afterwards. whether