MARIA-03
the Judgment, Temperament and Moral Character to Lead the United States;
Police Arrest a Man for Plowing His Vehicle into 3 Police Officers at a Gas
Station in Phoenix, Arizona; Bayer Acquires Monsanto for $66 Billion; Oil
Prices Rebound Yet Again; Mylan Labs Under Pressure Over Soaring EpiPen
Prices; - Part 2>
Max >
Morgan Ortagus>
Technology; Sports; Animals; Donald Trump; Police-Attack in Phoenix; Bayer;
Oil; Barack Obama; Campaign Trail; Hillary Clinton; Bloomberg; Ohio; Cbs;
Bill Clinton; Edward Snowden; Burger King >
(CHEERING AND APPLAUSE)
OBAMA: That is even -- thank you for reminding me. Thanks Obama.
(END VIDEO CLIP)
BARTIROMO: We're taking a closer look at the numbers straight ahead, thanks Obama. Mylan labs under pressure over soaring Epipen prices, and the Wall Street Journal has new details this morning on the company's sky- high executive pay, how the company compares to the rest of the pharmaceutical sector when it comes to compensation. Fears over exploding batteries, Samsung now telling users to limit charging the Galaxy Note 7, why this is fast becoming the worst P.R. disaster since Chipotle food crisis.
Markets this morning, little changed but higher, as you can see, markets are expected to extend the rally that we've been seeing, the Dow Jones Industrial average up about 20 points right here, fractional moves but higher. In Europe, the tone was set positive and that is being led by a rebound in the price of oil, the FT 100 is up a half of a percent, the CAC quarante in Paris was higher has since reversed course. In Asia, overnight, declines across the board, fractional moves nonetheless but lower, rather. And the Korean markets closed today for a holiday.
Bark at the park, the record night in Chicago, as more than 1,000 dogs showed up for last night's White Sox game, we will tell you about it. The economy a key concern for voters this election and Donald Trump gave his supporters a preview of an economic speech he will deliver tomorrow.
(BEGIN VIDEO CLIP)
DONALD TRUMP, PRESIDENTIAL CANDIDATE: On Thursday, I will outline my full economic plan which is completely paid for, through economic growth and proposed Federal budget savings. It's going to be something special like this country hasn't seen in many, many decades.
(END VIDEO CLIP)
BARTIROMO: I want bring in right now, Steve Moore, Trump economic advisor and distinguished fellow -- visiting fellow at the Heritage Foundation. Steve, good to see you.
STEVE MOORE, TRUMP ECONOMIC ADVISOR: Hi, Maria.
BARTIROMO: So, we've spoken a lot about his corporate tax rate at 15 percent. Tell us what we should expect from the speech tomorrow.
MOORE: Well, I think there will be a lot of focus on that tax plan because he does really feel that's the kind of heart and soul of his economic recovery plan. We will -- we do have that 15 percent corporate tax and it's available to all small businesses. We're also going to dramatically simplify the personal income tax system which is, you know what, the vast majority of Americans have to comply with. We're going to bring the rates down, get rid of a lot of the loopholes, and make it much simpler. I think most Americans, Maria, will no longer -- the vast majority of Americans will no longer have to itemize deduction. That's going to make it a lot easier.
BARTIROMO: Yeah. We've also received some good news on the economy yesterday, top story in the Journal today, household incomes rose.
MOORE: Yeah.
BARTIROMO: . by more than 5 percent last year to $56,000 dollars. President Obama is taking credit for that, listen to this, Steve Moore, I want to get your reaction.
MOORE: OK.
(BEGIN VIDEO CLIP)
OBAMA: More Americans are working, more have health insurance, incomes are rising, poverty is falling, and gas is $2 a gallon -- thank you for reminding me. Thanks Obama.
(END VIDEO CLIP)
(LAUGHTER)
BARTIROMO: Steve, what do you think? Do higher household incomes and lower gas prices help Hillary Clinton?
MOORE: Well, first of all, let me say that I was kind of shocked when Barack Obama wanted to take credit for $2 a gallon gasoline because he's done everything he can to stop oil and gas revolution that's going on, just as he shut -- he's trying to shut down our coal industry. Maybe we should say, thank you oil and gas industry for providing us with that trail on oil and gas which has driven down the price of gasoline. Now, when it comes to income data, look, there was good news yesterday, no question about it, that finally we saw a rise in incomes.
But I looked at the longer term data. I pored over this data last night, Maria, a really dismal statistic, I would sight to you, is that what that census bureau data shows is that you go back to -- in 2000, 15 years ago, Maria, the average family have a higher income 15 years ago than they do today, when you adjust for iNFLation. This has been a long period of just no pay raises -- and, by the way, that's the Bush era and the Obama era. So, I think this idea of cheerleading for the economy is a little over the top right now. The other statistic that I found very depressing, still in this country in the 7th year of recovery, 40 million people in America are still in poverty or poor, that's intolerable.
BARTIROMO: It's incredible.
SCOTT MARTIN, KINGSVIEW ASSET MANAGEMENT CIO: Steve, speaking about the economy, major issue in markets today is the presence of the Federal Reserve and Janet Yellen. Mr. Trump has talked numerous times about removing Ms. Yellen if he happens to take office. You have any updates for us on that as to maybe who he would look empower in the Fed chairmanship.
MOORE: Well, I haven't talked to him about he -- who he likes, but how about somebody like Steve Forbes or Larry Kudlow.
(LAUGHTER)
MOORE: Two people who've been very, you know, close advisors to Donald Trump. What I believe, I think Donald Trump believes as well, is we need a much more rules based monetary policy that is not based on the discretion of a few people, but it's basically very signal to the markets, when we're going to raise of rates, when we're going to cut them. I know, Maria, that's not going to make your job too interesting because then we can't speculate about what the Fed is going to do all the time.
BARTIROMO: There's a lot to make this job interesting.
(LAUGHTER)
MOORE: But anyway, I do think that there will be a new Fed chairman, if -- if Donald Trump is elected president. And, by the way, on the energy issue that we're just talking about, you know, Donald Trump has a very pro- production policy where we can within five years, this is one of the things he's going to talk about, within five years we can make -- United States of America totally energy independent for the first time in half a century. Now, every president since a Richard Nixon has promised that, but we can actually get that done now with the amazing new technologies we have in drilling.
BARTIROMO: That's a big part of the story, Mike Baker.
MIKE BAKER, FORMER CIA OPERATIVE: Yeah. Steve, good morning. Listen, I've got three little kids, and so I think that, you know, a child care, day care is extremely important issue.
MOORE: Yeah.
BAKER: My concern here is the cost. Are you confident that this is.
MOORE: Yeah.
BAKER: . something that's not going to blow up the budget?
MOORE: Well, just a quick story on that, because as you guys know, you know, I helped Donald Trump put this plan together and we kind of just about finalizing it, and Ivanka Trump of all people, you know, said, look, we need to do something about, you know, working moms, and that are really struggling with this day care costs, you know. I'm a father, I'm not a mother, I don't do the child care stuff and I could -- a lot of us weren't really aware of how big of a problem this is for working women.
BARTIROMO: Yeah.
MOORE: And so, this is something I think is going to be really popular with voters. And one other quick thing about this, Maria, we're also going to offer a corresponding credit for stay-at-home moms because we felt strongly that -- yes, we want to help working mothers with their child care expenses, but what about the women, like my wife, who's stay at home and take care of the kids, they need some help, too.
BARTIROMO: Yeah. But, Steve, what Mike is asking, I mean, he likes you, he's got three kids.
(LAUGHTER)
MOORE: How do you pay for it? How do you pay for it?
BARTIROMO: Explain, how do you pay for it?
BAKER: Exactly.
MOORE: OK. So -- I'm glad you asked that. So, we're going to have dramatic spending cuts in the budget, and some of those will be outlined tomorrow, in New York. By the way, I'll be there. I hope to see you there, Maria.
BARTIROMO: Yeah. I will be there actually.
(CROSSTALK)
BARTIROMO: So, so.
MOORE: There you go.
BARTIROMO: . what's this spending cuts?
MOORE: So we're going to do.
BARTIROMO: Yeah.
MOORE: . spending cuts, and then we're going to have -- and, by the way, you know, we're going to look at all agencies of government and cut the waste and abuse, and some of the agencies we don't need, there's hundreds of them we're going to get rid of. The other thing is that Donald Trump is right about this, if you get this economy from this one to two percent growth rot that we've been in 7 or 8 years, up to 4 percent that's our -- you know, I said this on Stuart Varney show a few weeks ago, we're going to get 5 years of 4 percent growth with this economic program. You do that, you're going to get amazing amounts of revenues and you're going to be able to balance the budget within 5 or 6 years.
BARTIROMO: So, tomorrow we'll hear about the child care credit, we'll hear about tax reform.
MOORE: Yeah.
BARTIROMO: . we're also probably hear a bit about trade, and that's the area of his economic plan that scares some people. Are we going to have to do all new trade deals, is that going to be disruptive? Obviously, he's talked about how he doesn't like NAFTA.
MOORE: Well, you know, Maria, I'm a free trade guy.
BARTIROMO: Yeah.
MOORE: . I always have been. And so, I don't always agree with Donald Trump on this issue. But, I think he's more reasonable on this. I think he's going to say, some of these trade deals you asked about which ones need to be renegotiated, I'll tell you one that's absolutely will be and that's Asia TPP trade deal. And, that's not to say we're not going to have a trade deal with Asia, it just needs to be renegotiated. It's not in America's interest right now. It doesn't open up sufficiently in Donald Trump's mind, and mine, too. Markets to American producers, you know. China, we open up our markets to China and Japan, they don't open up their markets to us, and we need to get a little tougher with them.
BARTIROMO: Yeah, I know, I think that's.
MOORE: But, I don't think we're going to have tariffs, I really don't, Maria. I know that's the term that really scares people.
BARTIROMO: Yes.
MOORE: But, you haven't heard -- you haven't heard Donald Trump talk a lot about tariffs in the last three or four months.
BARTIROMO: It's true, OK. So, no tariffs, but he's going to eliminate fraud and abuse, cut spending. Are you satisfied on the child care?
BAKER: Look, I mean, every presidential candidate.
MOORE: Oh, by the way.
BAKER: . you can go back to 1931, Franklin Roosevelt, talking about eliminating fraud and waste to pay for programs and it never seems to happen.
MARTIN: Famous words are it's totally paid for. What we have heard from Obama, year after year.
BARTIROMO: Yeah.
MARTIN: . didn't turn out so well.
BARTIROMO: Well, economic growth does pay for a lot of things. But, Steve, there is that looming question out there can you pay for it?
MOORE: There is.
BARTIROMO: Yeah.
MOORE: Yeah. And I'll just give you a couple of examples, you know, we can cut dramatically some of these agencies like the commerce department, the energy department, the education department, the only thing to remember, Trump said we're going to require countries like Germany, and France and Korea to pay more for the defense that we're providing them. I think that's perfectly appropriate. You're talking about tens of billions of dollars there.
BARTIROMO: All right. We will leave it there, Steve.
MOORE: All right.
BARTIROMO: . good to see you, thanks so much. We'll see you tomorrow.
MOORE: The map -- out, I promise.
BARTIROMO: OK. We're holding you to it.
MOORE: OK, see you.
BARTIROMO: Steve Moore with the latest there. By the way, tomorrow is a big day for us, we've got Governor Mike Pence joining us, 8:30 AM Eastern, right here on Mornings With Maria, don't miss our special interview, tomorrow morning. Coming up, first it was the price, now it's the pay, the new outrage surrounding Mylan labs. Plus, struggling to contain the fallout, Samsung's race to restore consumer confidence following its Galaxy 7 disaster, back in a minute.
(COMMERCIAL BREAK)
BARTIROMO: Welcome back, 45 minutes away from the opening bell for a Wednesday. We're expecting a higher opening for the broader averages. We know that the Monsanto-Bayer deal has been confirmed, and as a result that gave the market a bit of a boost this morning. So, we're looking at a broader averages opening higher today. A couple of names on the move, watch Mylan labs, the drug maker behind the EpiPen price increase, facing new criticism this morning. A Wall Street Journal article an analysis of compensation shows executives received the second highest compensation in the drug and biotech sector at Mylan. Mylan compensation out pay its peer in the industry including Johnson & Johnson and Pfizer, among other much larger companies.
Also watching shares of Apple, reviews of the company's second series of the Apple watch just coming out, the Journal is reporting that the devices found purpose in life with a refined focus on fitness, it still calls it a luxury over a necessity in the Journal this morning. How about that PR nightmare for Samsung, users reporting that their Samsung Galaxy phone are exploding due to faulty batteries, the company has yet to release an official response. Joining me right now, the host of Varney & Co., Stuart Varney, to weigh in, wow, what a nightmare, Stu.
STUART VARENEY, VARNEY & CO. HOST: It's taken $22 billion off the value of Samsung's stock which is only traded in South Korea, I believe. But that's how big it is already. A few days ago it was 14 billion off those stocks value, now it's 22 billion and rising. You know, Maria, it just occurs to me, Maria, that frequently we have to deal with major companies with a global brand image and they run up against a P.R. disaster, Chipotle comes to mind for food poisoning, Takata, the air bag people, exploding air bags, Wells Fargo, even with high their executive pay, and the cheating with customer's accounts, these are huge P.R. deals, really bad news. And you know it takes some of these companies a long, long time to recover.
BARTIROMO: Yeah.
VARNEY: I'm surprised that Apple has not been given a shot in the arm by the Samsung Galaxy problems that are so evident around the world.
BARTIROMO: Yeah.
VARNEY: I would have thought Apple got a better boost out of this.
BARTIROMO: Well, maybe they are getting a boost, and we'll see the numbers eventually. Anybody on the panel have a Galaxy phone that blew up?
MARTIN: No. But, Stu, I'll tell you, you want to talk about a P.R. nightmare, I took a flight out from O'Hare to LaGuardia yesterday, it is now made the airline announcements.
BARTIROMO: Oh, wow.
MARTIN: . so when they do the safety announcements, the flight attendants said, please we also ask you to not charge your Samsung Galaxy phone if you have one. So, talk about the basis of the anger there.
BARTIROMO: It's part of the airline announcement.
MARTIN: It is now part of the airline announcement based on my plane yesterday.
VARNEY: How do you recover from that? Well, I guess you do in time as the giant company -- but that is a P.R. disaster.
BARTIROMO: Yeah, for sure.
VARNEY: Big time.
BAKER: Mr. Varney, it's Mike Baker here, very good to see you this morning, by the way. I'm wondering how bad you think this can get for Samsung?
VARNEY: I think it gets even worse, actually, as these stories emerge all around the world. Essentially, they've got to withdraw and redesign the battery on I think at the moment 2.5 million smartphones. That cost a lot of money. You don't know how many future sale they are going to lose. As I said earlier, 22 billion off the value of the company so far. That's probably going to rise. And who knows whether the whole Galaxy line can recover at some point, I'm sure it will because it's a very good phone. I have one on the set right here, beautiful screen, all things good except that battery. So, I think there's worse to come, but they will stabilize at some, but I don't know when. And I don't know when they're going to rebound significantly.
BARTIROMO: Yeah. Well, it is a big issue, we'll see what happens. Stu, we'll see you in about 12 minutes.
VARNEY: You will.
BARTIROMO: Top of the hour, Varney & Co. begins at 9 AM Eastern, right after Mornings With Maria, join Stuart at the top. Coming up, talk about a ballpark dog, the crazy walk -- record setting in Chicago, last night. We're going to tell you about it, stay with us.
(COMMERCIAL BREAK)
BARTIROMO: Wow, what happens when you get bored hitting home runs, you've change it up a bit, 24-7 Fox News Headlines sports reporter, Jared Max, the highlights right now, Jared, good morning.
JARED MAX, 24-7 FOX NEWS HEADLINES SPORTS REPORTER: Hey, Maria, good morning. Now, a major league baseball player makes headlines for taking a knee, but it's not what you think. Check out Texas Rangers third baseman, Adrian Beltre, last night, out to play second inning against the Astros, down on one knee hits a home run, amazing. The 30th homerun of the season, Beltre also did this is in 2011 World Series. Now, it makes the highlights, doesn't make Beltre happy, he said, I don't like doing it but it normally happens on breaking balls when I'm trying to fight off a breaking ball, somehow the knee just goes down, he swings, he said I wish I could stop doing it. He thinks it hurts him more than it actually helps him. Hey, however you get it done, is more than one way to skin a cat.
Conflicting reports over whether NFL players who wears cleats this past summer -- Sunday, I should say, to honor those lost on 9/11 will be punished by league. Still no official release from the NFL on this, expected fines if there are any would total $6,000 per player, reportedly.
Over 52 million women watched the Super Bowl this past February, so why are so few women employed by NFL teams as coaches or scouts. Now, all 30 percent of front office workers in the NFL are women, jobs in football operations are scarce for women, which is why the NFL has created a position to address the leagues gender inequality in particular roles. The NFL named former women's football pro-tackle, Sam Rapoport, as the director of football development. Rapoport job, she said, is to create the pipeline for females to enter into positions traditional held by men.
Guinness World Records set at the White Sox game last at U.S. Cellular Field, for the most dogs at a live sporting event. Now, you see not the mascot, but the actually dogs. The annual, Bark at the Park, night, a nationwide tradition which the White Sox actually started 20-years ago. Fans were told to be in their seats with their furry shoulders at the end of the second inning, after all the dogs were counted. Anybody want to guess how many dogs were there?
BARTIROMO: I don't, I mean.
MAX: Twelve hundred.
MARTIN: You're pretty close, 1122.
(CROSSTALK)
BAKER: I did not look at -- I did look at the teleprompter.
BARTIROMO: Come on.
BAKER: All right.
BARTIROMO: Twelve hundred dogs, wow.
MAX: Eleven hundred twenty two, and they set -- they set the record, and it was cool as the White Sox, Tyler Saladino, he had his husky, was in the crowd as well. And was joking that from the crowd, from the -- from the field you could hear the dogs and the crowd, he said they were just talking to each other, you don't know what's going on but they were just barking.
MARTIN: Better than booing which is usually what goes on at the White Sox, yeah. I don't know if they even draw usually 1200 fans.
BAKER: Do you buy your dog a hot dog when you take him to the stadium?
MARTIN: Only if --
(CROSSTALK)
ORTAGUS: I really like this NFL story there, Jared. I mean, everybody knows I'm not sporty spice, and they make fun of me for this, and I watched the NFL games with the halftime show. But, I think it's great when there's a private corporation that's taking initiative to get women to the top. So, good for them.
MAX: Yes, definitely. There are -- look, 30 percent of front office jobs as I just mentioned are held by women, 52 million women will watch the Super Bowl, you can't tell me there are some fantastic positions that are just waiting to be held by people who happen to be women, I don't think that gender thing really matters anymore.
BARTIROMO: No.
MAX: . people watch football.
BAKER: Can I ask you one question?
MAX: Yes.
BAKER: How good can the Giants be, the New York Giants be this year.
MAX: It all depends on the health I think of the wide receivers. Victor Cruz needs to stay healthy, and if that's the case, always such a strong night.
MARTIN: Sterling Shepard is a dark horse, by the way. He is a good player. Good draft.
MAX: One other thing on the baseball game.
(CROSSTALK)
MAX: We haven't mention the Mets.
BARTIROMO: Yes, we have to mention the Mets.
MAX: Half a game up for the nationals.
BARTIROMO: Nat Candido.
(CROSSTALK)
MARTIN: Do not let the Mets play the Cubs again this year, because the Cubs -- that would be the Cubs bugaboo this year.
BARTIROMO: Bring it on.
(CROSSTALK)
MAX: For the Indians last night at the U.S. Cellular Field, it was a rough night.
MARTIN: It's been a rough season.
BARTIROMO: Yeah. We will leave it at that, how's that, oh ruf. OK.
(BARKING)
BARTIROMO: Oh, that's good, Bark in the Park. Jared, thank you. Jared Max. We've got final thoughts from our all-star panel after this short break. Stay with us.
(COMMERCIAL BREAK)
BARTIROMO: Welcome back. Final thoughts from our all-star panel, Mike Baker.
BAKER: Yes. The state of Connecticut not exactly known for its fine fiscal management currently. That's finally announced a very good decision which is they're bringing back the far cars on metro north, a new haven line. They retired these things in 2014, last rolling bar cars in the country. They're bringing them back. They won't be on-line until 2018, but it makes that commute back and forth to New York City much more pleasant.
BARTIROMO: All right. So, you like it.
(CROSSTALK)
BAKER: Thumbs up.
BARTIROMO: Scott Martin.
MARTIN: Market volatility is back. And the real tell if you're investing at home I think is interest rates. They're starting to tick up. When they tick up the equity market goes down. Watch that keep happening.
BARTIROMO: Morgan Ortagus
ORTAGUS: I'm watching Syria. The Obama administration is desperate for the latest deal between Kerry and Lavrov, the Secretary of State for Russia to work. The Pentagon and the State Department are fighting over whether we should cooperate Russian air strikes. This is going to be really important in Washington in the next few days.
BARTIROMO: All right. We will watch it as well. Thanks everybody, great show today. Thank you so much for joining us, we'll see you tomorrow. "VARNEY & CO"., begins right now, Stuart, take it away.
END
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