MARIA-01
People of Laos and Pledges $90 Million of Taxpayer Money; Cyber Security
Concerns; Trump Versus Clinton; Chemicals Banned; The Marine Corps Way To
Win On Wall Street - Part 2>
Elections>
Plus from the battlefield to the boardroom, a former Marine joins us this morning with his secret to success on Wall Street.
And a low launch for Lululemon, Wall Street eyeing the athletic company stock after taking a downward facing job last week in a big way.
Markets this morning pointing to a slightly higher opening for the broader averages as we kick off a holiday shortened week this week on Wall Street.
A handful of economic data will set the tone for markets. Today, we have got the ISM non-manufacturing index due out later this morning.
In Europe, stocks are mixed right now. The DAX index in Germany leads the way with a gain of about 23 points. That's one quarter of 1 percent. The FT 100 is lower in London.
In Asia overnight, stocks ended the day higher across the board, the Shanghai composite top performer up 0.6 percent overnight.
Following the G20 conference yesterday in China, President Obama took a moment to note that the United States has, quote, "More capacity than anybody" both offensively and defensively in cyberspace.
Democratic presidential nominee, Hillary Clinton, also spoke yesterday to the recent Russian interference of the U.S. presidential election.
(BEGIN VIDEO CLIP)
HILLARY CLINTON (D), PRESIDENTIAL CANDIDATE: I believed that Putin and the team around him certainly believed that there is some benefit to them for doing this. As Tim Kaine said yesterday this is like Watergate only now in cyber-time.
(END VIDEO CLIP)
BARTIROMO: Joining us right now is former Florida congressman and Fox News contributor, Retired Lt. Colonel Allen West. Lt. Colonel, good to see you. Thanks so much for joining us.
LT. COLONEL ALLEN WEST (RETIRED), FORMER FLORIDA CONGRESSMAN: Good morning. Thanks for having me.
BARTIROMO: What do you think about this whole narrative? Your thoughts on the president's comments toward Russia on cyber security and Russia getting involved in the U.S. election?
WEST: Well, first of all, I think it's very interesting that you have Democrats creating this straw man of Russia. If I was Vladimir Putin, the person that I would want to see sitting in the White House come January 20, 2017, it would be Hillary Clinton.
Because I would go back and think about the Russian reset button and all the things that he has been able to do since that came about when she was secretary of state and Barack Obama is the president.
We have seen an incredible expansion of Russian power in the Middle East and their presence there. We have seen an incredible expansion of Russia towards taking over Crimea and Ukraine.
But one thing that you have to understand Vladimir Putin, Xi Jinping, Hassan Rhouhani (ph), they are strong men, a strong man could care less about rhetoric, they are all about actions.
This is a President Obama who made the redline comment who said that Assad must go and Russia went in and Assad is not going anywhere. As a matter of fact, he has gotten stronger and the Iranian influence in the Middle East has gotten even more strong.
BARTIROMO: Right. And we know, Dagen, that it is Hillary Clinton and the Democrats that have the real ties to Russia whether it is the reset or the backdoor deals, not Donald Trump.
DAGEN MCDOWELL, FOX BUSINESS: Right. And seating power to Russia in every way, shape, and form starting with Syria, for example, and not standing up to Russia. I just think that the entire display that we saw over the weekend of how the United States and the president were treated.
Whether it was in China, he has to get off the plane out of the belly of the plane because the Chinese couldn't bother to wield the stairs up to the plane, confrontation on the tarmac, what was said in the Philippines, there is a long list.
And it really shows you where America stands on the world stage now that these nations, potential enemies treat us with total disdain.
GERRY BAKER, EDITOR-IN-CHIEF, "WALL STREET JOURNAL": Congressman, do you think that -- I mean, Donald Trump has said some things about Russia that concern some people. He's talked about -- he seems to have wavered slightly on whether or not the United States would support NATO allies, in the Baltics invaded by Russia.
He said some things about Vladimir Putin that sounded actually much more favorable and I think most people would suggest. I take your point about Hillary Clinton's record of secretary of state, where she tried to reset relations with Russia and it wasn't successful.
But surely Donald Trump has said and done some things that do make you raise eyebrows about what kind of a president he would be with regard to Russia and our relations with that country.
WEST: Well, there is no doubt that Donald Trump has had some misstatements, of course, when it comes to relationships with NATO and also some of the things he said with Russia and that is why you see the narrative coming from the Democrat Party trying to tie him to Russia, trying to talk about Russia influencing the elections because he gave the Democrat party and Hillary Clinton a gap about which they could exploit.
But it think with a new campaign manager, Kellyanne Conway, he will be a lot more savvy and a lot more careful of statements that he is making.
And again you have to surround yourself with the right type of advisors to make sure that you are honing yourself as far as foreign policy. I don't think you'll see him making those mistakes again.
BAKER: Do you think -- the Democrats going big with a campaign ad right now which challenge his temperament using things that he said, outbursts, you know, in speeches and sometimes some of the things he said about people that look a little in temperate, shall we say, that challenging his temper saying he has the kind of character and temperament to be president of the United States and deal with the global crisis, do you think he does?
WEST: Well, I think the maturation process Donald Trump is not a politician and once again, the Democrats said early on that they would go after his temperament. They would try to make him seem erratic.
But let's be very honest, look what is happening in the past seven and a half years for President Obama and the White House, and Hillary Clinton, who is a part of that.
You know, you just thought Dagen just talked about the disregard and disrespect, President Obama is not seen as a lame-duck president in the global environment, he is seen as a sitting duck president.
You can go back and look at all his misstatements and where he positioned. The fact that we have Iranian naval vessels harassing our ships in the Middle East, the fact that we have Russians that are buzzing our ships in the international waters of the Baltic Sea. This is unconscionable what is happening.
BARTIROMO: Right. What about this? Because there is actually a letter of support, Congressman, for Trump, from 88 retired generals, this letter has surfaced now where they state in the letter that they believe Trump will help rebuild the military, secure borders and defeat ISIS. What are your thoughts on this letter?
WEST: Well, this is going back to the Reagan mantra of peace through strength, when you look at the decimation of our military, in the years of Obama where we have an army that is at 1939 levels and Navy at 1917 levels, a Marine Corps at World War I levels.
We have the oldest and the smallest fleet for combat aircraft in the Air Force. We have aviation maintenance crews that are going to bone yards and to museums to try to find spare parts for our combat aircraft.
So these generals realized the sad state of military readiness, and they will take the chance with Trump because they don't have another way to go.
BARTIROMO: All right, Harlan Hill?
HARLAN HILL, DEMOCRATIC STRATEGIST: Congressman West, Harlan Hill here. Do you think the Democrats have been successful in obfuscating what's the meat of this issue, which is that Hillary Clinton, you know, misused her email server and has had all kinds of scandals between the Clinton Foundation and others that are worth highlighting and made the topic of discussion about Trump's non-existent ties to Russia?
As Dagen so clearly laid out, you know, Hillary Clinton had the Russian reset. She abdicated her responsibility on Syria, and you know, she sold a quarter of our uranium reserves to Russia in a deal between the Clinton Foundation and the State Department.
So you know, it seems like they have succeeded in distracting the media from the meat of this issue because here we are talking about it.
WEST: Yes, you're absolutely right. And the thing that Donald Trump has to understand is that if he does not make himself the news item they have to talk about these issues.
And the American people, you know, I am out here on the street in Dallas, they understand what is going on with Hillary Clinton. They understand the Kansas City shuffle, you look left. They go right.
And they are trying to create a straw man like I said earlier with Russia and other things, but there are some serious flaws with Hillary Clinton, her ties, the private email server.
And again just ask yourself how can you run for commander-in-chief and say that you don't understand how to handle classified information?
Where any soldier sailor or airmen Marine would lose their clearance, be dishonorably discharged, and they'd be hearing to Fort Leavenworth.
BARTIROMO: We'll be watching that. Lt. Colonel, good to see you. Thanks so much, sir.
WEST: A pleasure. Thank you.
BARTIROMO: We will talk to you soon.
Coming up, Congress heads back to Capitol Hill in the hopes of providing funding to fight Zika, but the clock is already ticking, the race against time for the House and Senate coming next.
Plus GM gets closer to leaving its ignition switch scandal in the rear view mirror, more on the recent settlement of two more cases, back in a minute.
(COMMERCIAL BREAK)
BARTIROMO: Welcome back. Happy Tuesday. We are looking for a higher opening in the broader market this morning once the market opens in about two hours. A couple names on the move, not so smooth sailing for Carnival Cruise. The company taking a tumble on concerns about sluggish August bookings. Company stock was down 5 percent on Friday. It is trading lower again this morning on sales worries.
Investors will be eyeing Lululemon today after the company plunged 12 percent in quarterly results after the close and then Morgan Stanley downgraded the stock on fears that store traffic is slowly at Lululemon.
Tata Motors revving up the morning, the company higher in the premarket after analysts at both JPMorgan and Morgan Stanley issued positive outlook for sales growth there.
And after a seven-week summer recess lawmakers are returning to Capitol Hill this morning for a short election season session. Cheryl Casone with the story and the headlines now -- Cheryl.
CHERYL CASONE, FOX BUSINESS: Yes, Maria. They're coming back for a little bit anyway. They have less than four weeks to pass a temporary spending bill to keep the federal government operating passed October 1st.
Now the Senate also making funding for Zika, its first order of business, lawmakers left Washington back in July without resolving a dispute over the Zika issue. The president asked Congress for $1.9 billion to fight Zika earlier this year. Officials are certainly waiting to see the outcome of that in Washington, D.C.
In other headlines this morning, General Motors has settled the final two ignition switch cases set to go to trial this year. The latest development does move GM closer to clearing remaining legal hurdles stemming from the safety defect that's been linked to 124 deaths.
GM recalled about 2.6 million older cars in 2014 with faulty ignition switches that could suddenly turn off cutting power to the engine and also safety features like power steering, power brakes and even airbags.
And finally this, antibacterial hand soaps have been around for a long time, a lot of us use them, but the debate on whether or not they actually work keeps going.
In December of 2013, the FDA said that manufacturers needed to produce actual data that showed these products worked. Then last Friday, the FDA said it is banning 19 different chemicals, many of them in antibacterial soaps.
The FDA said, quote this, "Manufacturers did not demonstrate that the ingredients are safe for long-term daily use and more effective than plain soap and water in preventing illness and the spread of certain infections."
A lot of experts, Maria, say that antibacterial soaps are more effective than using soap and water, but I do like the coconut version of my antibacterial gel. Back to you.
BARTIROMO: New regulations, Dagen, your thoughts?
MCDOWELL: I have never been a fan of antibacterial soap, ever. It is superhot water and soap. It is a crutch and I do believe that report, by the way.
BARTIROMO: Harlan, what about you?
HILL: This comes on the heels of that news that millennial's are killing the soap bar, you know --
MCDOWELL: They are killing a lot of things, Harlan.
HILL: We're blamed for everything that goes wrong apparently. I am on the same page as you, I mean, no antibacterial soap.
BARTIROMO: All right, we'll take a short break. Still to come, my next guest says NBA superstar, Steph Curry, Pope Francis, and Warren Buffett are applying skills for success from the battlefield, back in a minute.
(COMMERCIAL BREAK)
BARTIROMO: Welcome back. My next guest took what he learned on the battlefield and turned it into a recipe for major success in the board room.
The new book, "The Marine Corps Way To Win On Wall Street" lays out a set of core principles and values that he said would improve the Wall Street's image and performance.
Joining me right now is retired marine, investment banker and author, Ken Marlin. Ken, good to see you. Thanks so much for joining us. Take us through these principles. You've got five top principles that you start with and you start saying take the long view.
KEN MARLIN, U.S. MARINE CORPS (RETIRED): There are actually 11, but you're right, there are five top ones, but there are 11 principles that I have learned while a Marine and have applied while leading businesses, both tech businesses and for the last 14 years running an investment bank.
The one I lead with, which I call take the long view is a Marine Corps approach that says you first need to know where you are going. You need to know what your mission is and all tactics need to align with that mission. We see too many in business and too many bankers being reactive.
BARTIROMO: You are an infantry officer for decades in the Marines. You say take a stand that's number two. What does that mean? Conviction.
MARLIN: Take a stand actually has two connotations. It certainly does mean conviction. One of the Marine Corps leadership principles is about decisiveness, but it's also about doing the right thing for the right reasons every time.
And as a banker sometimes I tell people they pay me for my advice, can't make them listen to my advice, but they can't make me give advice that I don't believe in.
From a banker perspective it's about advising your client on what's the right thing to do, not necessarily what they want to hear and sometimes it's telling them what they don't want to hear.
BARTIROMO: I like this next one, know the enemy, because on the one hand, yes, you want to know who the enemy is, who is that person or that group on the other side that you are fighting? At the same time you don't want to focus too much on them and take the focus off of you.
MARLIN: Well, I think that is right and there is another principle about knowing yourself. But knowing the enemy is about more than knowing who they are. It's about understanding their motivations. It's about understanding that nobody believes they are the bad guy.
Nobody believes that they illogical and so understanding their strengths and weaknesses and capabilities, but also understanding their motivations, and from a negotiating standpoint is huge.
Because once you fully understand not only the capabilities of the other side, but why they want what they want oftentimes from a negotiating standpoint you can come up with a win/win scenario.
BARTIROMO: Yes, what about this one, trust and verify?
MARLIN: So it's trust and verify. I'm aware of that -- Ronald Reagan didn't coin the phrase trust but verify, he sort of made it famous. The concept in business as well as the concept in the Marines is that there are no sure things.
You cannot -- there are no treaties or contracts that absolutely guarantee any kind of performance so at some level if you come to an agreement with somebody, you certainly have to trust, but that shouldn't stop you doing your best to verify.
BARTIROMO: And the fifth one is being disciplined.
MARLIN: So being disciplined in some ways is actually the last one I put in the book because it does to some extent encapsulate the other principles, but it is about being disciplined in your planning.
We do something called backwards planning, understanding where you want to wind up and when you want to wind up there and all the steps that are necessary to be there.
It also involves not only doing the right things but not doing the wrong things, which sometimes means skipping battles. You don't have to fight every battle just because you can.
BARTIROMO: Yes, that's a really good point actually. What about business political leaders, who best exemplifies the Marine way?
MARLIN: This is an interesting political season. I voted in every presidential election since Richard Nixon, I hate to say. While at various times I have voted for Democrats for Senate or Democrat, I never previously voted for a Democrat for president.
I have thought about this a lot and tried to apply Marine Corps principles in thinking about it, I am going to hold my nose and vote for Hillary Clinton this year.
I think she does more clearly embody the Marine Corps principles, which does not mean that I like some of the things I hear about policies or taxes or some of the things I hear about emails, but on balance I do believe she embodies them more than Mr. Trump. It is a tough year.
BARTIROMO: So when you say hold your nose and do it is because you don't like any of the above, that you just said, the taxes, the policies, the emails but you're going to do it anyway.
MARLIN: I'm going to do it anyway. I do believe that we don't have time to go through each of the 11 principles. I do believe that taking the long view means you have to have a clear sense not only of where we are going, but how you are going to get there and on balance I think she wins that one.
BARTIROMO: All right, Ken, good to see you.
MARLIN: Thank you.
BARTIROMO: Thanks so much for joining us, Ken Marlin. Congrats on the book.
Still to come, Hillary Clinton meets the press in mid-air. Was it enough to quiet critics, though, after 270 days without speaking at a press conference, more on that in the next hour of MORNINGS WITH MARIA. Back in a moment.
(COMMERCIAL BREAK)
BARTIROMO: Welcome back. Good Tuesday morning, everybody. I am Maria Bartiromo. It is Tuesday, September 6th. Thanks for being with us. Your top stories right now 7:00 a.m. on the east coast.
The race for the White House is on Donald Trump pulling ahead of Hillary Clinton right now in latest polls. We've got very latest on the new national poll out this morning.
Then Clinton declines a visit to Mexico and slams Trump again for his trip.
(BEGIN VIDEO CLIP)
HILLARY CLINTON (D), PRESIDENTIAL CANDIDATE: Not only did Trump mess up his first international engagement he choked.
DONALD TRUMP (R), PRESIDENTIAL CANDIDATE: She didn't have energy to go to Louisiana? She didn't have energy to go to Mexico. She should have gone to Mexico. She should have gone to Louisiana. She still hasn't gone to Louisiana and she didn't have energy or drive to go to Mexico.
(END VIDEO CLIP)
BARTIROMO: Hermine meanwhile churning offshore although it is expected to weaken. Coastal flooding and dangerous wind gusts remain a threat. A live report on that hurricane coming up.
Plus Black Lives Matter protesters closing an airport runaway disrupting all flights there. Details on the flight delays and the arrests coming up.
A retired legendary Apple engineer turning down a job at an Apple store genius bar.
END
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