MARIA-02
Trump & Tech Meeting; Silicon Valley vs. Trump?; Keeping Jobs in America - Part 2>
Casone>
Appointments; Stock Exchange; Economy; Jobs>
President-elect Donald Trump's cabinet continues to take shape. Trump officially picking former Texas Governor Rick Perry for energy secretary. This is Fox News just reporting this morning. Congressman Ryan Zinke will be his choice for interior secretary.
The biggest one is technology titans are headed to Trump Tower today. Elon Mush, Eric Smith (ph), IBM CEO Ginni Rometty, all among the big names meeting with the president-elect later today at Trump Tower.
Before the meeting though Rometty has a big news. She says IBM getting in on the recent job search. She announced yesterday the company will hire 25,000 additional people in the next four years. Job creation ahead of her meeting.
Trump highlighting his and his administration's focused on getting people back to work.
(BEGIN VIDEO CLIP)
DONALD TRUMP, PRESIDENT-ELECT OF THE UNITED STATES: My administration will be focused on three very important words. Jobs, jobs, jobs. Whether it's building cars, producing steel, or curing disease, we want the next generation of innovation and production to happen right here in America and right here in Wisconsin.
(END VIDEO CLIP)
BARTIROMO: The very latest on the meeting with technology CEOs coming up.
Meanwhile investors are watching the Federal Reserve today. It is decision day after the two-day meeting. The central bank likely to raise interest rates by a quarter of a point. They will also reveal its first economic projections since the election.
Markets are quite ahead of the decision. Take a look. We are on Dow 20,000 watch. The Futures right now indicating a lower opening for the broader averages. Although the NASDAQ just slipped into positive territory and we are off of the lowest. Though we may actually see another record- setter today.
It's also a busy day on the economic calendar. Retail sales numbers are coming out in about an hour along with the producer price index. We will get you those reports as soon as they hit the tape.
Meanwhile, markets globally go off. They are also stalling this morning, ahead of the Federal Reserve's decision. Take a look at European forces. The CAC quarante in Paris down about third of a percent. The others fractionally down.
Markets close near the flat line overnight in Asia. As you see there. Worst performer was Shanghai. The Chinese indicator down one half of one percent in China. The others up fractionally.
General motors is looking to the highest court for some help. Why the company is asking the Supreme Court to shield it from lawsuits over faulty ignition switches.
And Walmart is helping to place Santa a little longer. The company's new deadline for last-minute shoppers.
Meanwhile, Snapchat make sure your friends don't disappear. The details as the social media giant introduces a new application. Group chat.
Tinder taking on TV. You may find the love of your life by swiping right on the big screen. We will bring that to you as well.
Meanwhile though first up, Silicon Valley leaders are meeting with president-elect Donald Trump today, this afternoon at Trump Tower. Executives expected, Tesla's CEO Elon Musk, Apple CEO Tim Cook, Amazon CEO Jeff Bezos, and many others.
The meeting's focus will center on bringing jobs back to the U.S. and implementing better technology for government use. According to reports.
Joining us right now is the CEO and founder of Cheddar and the former president of BuzzFeed. The COO joining us Jon Steinberg.
Jon, good to see.
JON STEINBERG, CEO, CHEDDAR INC: Good to be here.
BARTIROMO: Thank you so much for joining us. So most of Silicon Valley did not support Donald Trump.
STEINBERG: Right. Absolutely.
BARTIROMO: They were very clearly and vocally on Hillary Clinton's team. What do you think comes out of this meeting today?
STEINBERG: Well, I have to admit. The first thing when I saw the announcement of the meeting is I emailed Kushner and I said I want to go to this meeting, which I feel really embarrassed about now because when I heard they were having a tech summit, I assume it was going to be like all startup people. I didn't realize you had -- it was a Fortune 500 billion dollar CEO. I was a little bit embarrassed about that.
What I think is going to come out of this is he's going to like Zucker somebody or Romney somebody. He's going to go in there. He's going to tweet out something -- it's going to be off the record and he's going to tweet out something about how like Tim Cook this or Elon Musk that.
And I think that -- I think if what Kellyanne Conway has taught us anything it's that he likes people to fight without personally attacking him. And my thought on that is I was thinking about is whatever he does, Tim Cook should tweet out something like Donald Trump doesn't understand how iPhone's manufactured. Very sad exclamation point.
He likes that. He likes of you fight about on the stuff that don't personally attack him.
BARTIROMO: Yes. But come on. I mean, all of this is going in Donald Trump's favor. Look what Ginni Rometty did, right? She doesn't even get to Trump Tower yet and yesterday she announces, oh, we are going to add 25,000 new jobs in this USA Today article.
She writes we have thousands of open positions at any given moment and we intend to hire 25,000 professionals in the next four years in the United States. I mean, little efforts that Donald Trump put into this and everybody gets in line.
STEINBERG: So let me give you the serious positive commentary. His economic policy or statements around what he wants to do for business, he's right. The market has voted. We may not break 20,000 today because of the interest rate issues, but it's going to happen in the next couple weeks.
Repatriation of a cash, lower corporate tax rates. You got to keep some jobs in the U.S. All of these different levers are really working and they're really what the economy wants. So he's correct. And to the extent that he focuses on that stuff with them, he's on the right.
But if he starts this personally attacking them over things they can't really have any control over and he decides to throw them under the bus on Twitter then they got to fight back.
One of the big things that's going to come out at this meeting, as I've mentioned numerous times on the show is the immigration issue, right? So you've had Silicon Valley consistently want overhaul the immigration issues when it comes to HB1 visas.
They want to be able to bring in the talent and keep the talent here. And I think that was part of the undertone of why they were pushing against Donald Trump because they thought he was in tying immigration certain group's deportation.
So I think if there's going to be a conciliatory tone on immigration issues, I think you will see Silicon Valley come around on a lot of issues. So on Silicon Valley, nobody likes to make money more than people in Silicon Valley and pretended they don't like to make money, right?
They drive Prius and meanwhile they're buying islands and they fly more private aircraft than anybody, right? So there's definitely a two-faced in this to how these people act as opposed to someone like a Rex Tillerson who's just going to go all over the world, do whatever it takes to make money off of oil, right?
So everybody is sorted the same. And I think that if anything he's got a right to kind of give them a little bit of a hard time about that. They tried to all be so liberal with Hillary Clinton meanwhile they're all in the limousines.
DAGEN MCDOWELL, FBN HOST: They have to know that though, because they have -- it has been easy street the last eight years for all of these major tech companies in dealing with the White House, because they were on the same side politically and they've gotten virtually no pushback. They got net neutrality out of the Obama administration.
An increasing concentration of power and very few hands in Silicon Valley. No pushback on that. Even the privacy issue. And they've got a --
BARTIROMO: How many dance balls do they go to at the White House with Beyonce and Jay-Z?
STEINBERG: I think I'm the only person I Silicon Valley in tech -- I don't think net neutrality makes sense. I don't get it. These cable companies are losing all of their franchise over the set channels as the internet blows all this up. They put a fiber in cable all over the entire world. They're not allowed to charge Netflix for it? It doesn't make any sense to me.
So whenever a policy is just open and liberal without even really thinking about it in a lot of cases, Silicon Valley said, OK, that makes sense. And then everybody is afraid to speak out with the exception of teal because they're afraid of what it will do for the business, right? So that's --
MCDOWELL: They're afraid of what that's going to do to their employees because some of these employees are still crying. They're still sniffling when they go to work in the morning because Hillary Clinton lost and I am not joking about that. People are still all over Facebook about it.
BARTIROMO: They need some hot cocoa.
KEVIN KELLY, CIO, RECON CAPITAL: But you're right. We do -- if Donald Trump is going to end the crony capitalism that has happened over the last eight years with Silicon Valley and the tech industry.
STEINBERG: Yes. And amazing part is that Hillary lobbied so hard out there, spent so much time in California doing all these fundraisers. I mean, that was probably the one place that she shouldn't had spent all the time.
MCDOWELL: Maybe they're crying because they basically poured money down a big hole in the ground, putting money behind her campaign. I don't know if they were raising money right and left for her.
LEE CARTER, POLITICAL POLLSTER: I'd also expect to come out this meeting though a few quick wins because he responds to fighters but he also responds very well if you say I'm going to do something for Donald Trump, the Carrier jobs. And you can imagine there's going to be some --
BARTIROMO: What is Jeff Bezos going to say about Washington Post? The Washington Post putting 20 reporters on a Donald Trump. Remember that one? I'm going to put 20 reports on Donald Trump because we owe it to our readers. And no additional reporters on actually the one who was under FBI investigation Hillary Clinton.
STEINBERG: And meanwhile, he is the one during the holidays running the fulfillment centers with some of the worst conditions in air-conditioning issues of almost anybody, right?
So that goes to it again. Donald Trump should give him a hard time about the conditions and a lot of his warehouses.
BARTIROMO: All right. We'll be watching, Jon. Great analysis. It's good to see. We'll see you soon. Check out Cheddar, everybody. Jon Steinberg joining us here.
Coming up, Walmart making it easy for shoppers to wait until the last minute to do their Christmas shopping. How long you can put off to find those holiday gifts? Next.
And then the gift of love coming to your Apple TV. How you can evaluate your Tinder matches on the big screen. Straight-ahead.
(COMMERCIAL BREAK)
BARTIROMO: welcome back. General Motors asking the U.S. Supreme Court to shield it from lawsuits involving those faulty ignition switchers. Cheryl Casone with the story now and headlines. Hi, Cheryl.
CHERYL CASONE, FBN CORRESPONDENT: Hey, Maria. Yes, the company is looking to reverse a lower court ruling and validating a bankruptcy shield that was established back in '09 as part of its government-backed restructuring.
The company arguing that shield blocks some loses over the faulty ignition switches. Those suits could run into the billions.
GM has acknowledged failing to disclose the defective switch and didn't issue a recall until early '14. The Supreme Court isn't expected to decide until next year, whether to hear that case.
Well, Walmart is stepping up its efforts to fight back at Amazon. The discount retail giant announcing shoppers are going to be able to order items walmart.com as late as 6:00 P.M. on December 23rd. Then pick them up at the supercenter of their choice at any point on Christmas Eve. This move of course aimed in part of stores from being overwhelmed by last- minute Christmas shoppers. But also Amazon's doing some guarantees for last-minute shoppers as well, depending on the city you can do it same day, believe it or not.
Well, there is a new way to stay in touch with your friends for the holidays. Snap, which is the maker of Snapchat has introduced a message app called Snapchat Groups that lets you chat with up to 16 people at one time.
And the company hopes the new feature will catch on. They've got a hundred million daily users right now. And also they want to try and go after Facebook Messenger and WhatsApp. Maybe get some of the business away from those other companies.
And finally, again, just in time for the holidays, Tinder is now available on Apple TV. Meaning you and your family can get together around the fire and put up your potential ups and then you can go through back and forth and everybody can comment.
It's available today. It's supposed to be used for groups. Yes. Tinder wants you to make a party of it. Bring your friends, bring your family, get your mother and your aunt's opinions on who you should be dating, Maria. Back to you.
BARTIROMO: That's good. I like the idea that apps are coming to the big screen though. That's good.
(CROSSTALK)
CARTER: Want to come meet my family?
KELLY: That's entertainment. You're like, yes, no, maybe no, yes, no. That's entertainment. There is comedy shows based around Tinder and you go watching these --
MCDOWELL: This is where I don't weigh in because I'm not going get in trouble.
BARTIROMO: OK. Coming up next, president-elect Trump, Speaker Paul Ryan show a united front. What it means for the Republican Party? We'll look at that next. Stay with us.
(COMMERCIAL BREAK)
BARTIROMO: Welcome back. President-elect Donald Trump's "Thank You" tour making a stop in Wisconsin last night. The Badger State helped lift Trump to a resounding victory. And he gave praise on House Speaker Paul Ryan.
(BEGIN VIDEO CLIP)
DONALD TRUMP, PRESIDENT-ELECT OF THE UNITED STATES: Speaker Paul Ryan, I've really come to -- oh, no. I've come to appreciate him. Speaker Paul Ryan. Where is Speaker? Where is he? He has been -- I'd say he has been terrific.
And honestly he's like a fine wine. Every day goes by. I get to appreciate his genius more and more. Now, if he ever goes against me, I'm not going to say that, OK. He's a great guy.
(END VIDEO CLIP)
BARTIROMO: Joining me right now is Bob Wright. He's the former president and CEO of NBC. And he's the founder and chairman of the Suzanne Wright Foundation. Bob, good to see you.
BOB WRIGHT, CHAIRMAN, SUZANNE WRIGHT FOUNDATION: Thanks you, Maria. Thanks for having me.
BARTIROMO: Thank you so much for joining us. So, what's your take on president-elect Trump's role in unifying the Republican Party? Interesting to see him speak that way about Paul Ryan after what was really a contentious election.
WRIGHT: I know Paul Ryan. He's a smart man, he's got ideas. He's a straight talker. He's somebody I think that the president-elect will get along very well with.
BARTIROMO: When he said --
WRIGHT: I think other people are going to come by. Donald Trump wants to get things done. He doesn't care about it if it's in a different way. If it's the same way and it works, fine. If it has to be different, that's fine too.
BARTIROMO: Yes. And Paul Ryan is going to be the guy who's going to be able to get the legislation through, right? When he's talking about tax reform, he's talking about repeal and replace ObamaCare. He's going to need congress to see things his way.
WRIGHT: Clearly, both the president-elect and the speaker are going to need congress. And I think they have -- they have the majorities. They just have to -- it's going to take time. But they'll get it done pretty quickly.
BARTIROMO: Bob, you work with Donald Trump over the years. President- elect Trump says that he's going to remain an executive producer on "Celebrity Apprentice," even after taking office. So you made Trump half owner and the executive producer of that Miss Universe pageant back in a day. And obviously you put him as the star of "The Apprentice."
Take us behind the curtain a bit when you worked with him. Do you think he should remain with the show while in office? Do you think he should still have that title? What do you think?
WRIGHT: Well, I guess if he wants to have the title and it's part of a hobby, I suppose that's fine. It's not quite clear why he wants to do that. Maybe it's a hobby and he's very attached to the show. He's an excellent producer. He turned out to be much better than people thought he would be.
I think you're going to see the very same thing as president of the United States. He's a very hard worker. He does listen to people. He appreciates people that are successful and he wants to know why and he wants to make sure that he hires people and works with people that have that same success orientation. And breaking glass or going to that nature, if it's necessary, he's clearly in favor of that.
BARTIROMO: It's true. The show was a big success. The fact that he's proud of it and he wants to keep his name on it, I guess I'm OK with it. So long as he's not having a role in anything while he's the commander in chief, right?
WRIGHT: I really doubt that he will. And I think that's part of just -- part of his -- he's been with that show for 14 years. So let's just see what that is. I'm sure that will work out to be on his own terms.
BARTIROMO: Bob, so much to talk to you about. From the Moonshot Cancer opportunity that is in front of us, as well as what's going on in your business or the TV and media business.
Let me ask you about the M&A that we've been seeing in particular the AT&T time warner deal. This is a proposed $85 billion merger. The abandon deal with CBS and Viacom. We heard it yesterday that the Redstones are pulling out of this idea that they want to merge CBS and Viacom. That's also something to take note of.
First off, your thoughts on the Time Warner-AT&T deal. Do you think it goes through?
WRIGHT: You know I was a lawyer before I was a businessman -- on the face of it, it shouldn't be a problem. It's vertical integration. It's not horizontal integration. Vertical integration is not against the law.
So this is a political issue. It isn't a legal issue in my opinion. It should be approved.
BARTIROMO: OK. So you think it should be approved. But Donald Trump actually said, look, it's too much power into few hands. On the campaign trail he said he wouldn't approve it. I wonder if his justice department is in fact going to approve it.
WRIGHT: Well, that's a different -- that's sort of a different issue. And that's where the political peace comes in. Maybe there'll had to be some negotiations involved in that or whatever. But I think from a straight legal point of view, it's a go idea.
BARTIROMO: So, what you think about how the world is changing in this business, Bob? How do you see TV and media merging or not merging in the coming five years? How will the business look different from your standpoint?
WRIGHT: Well, I think they each help each other out. The internet is getting stronger because it's got a lot of video. And the people in the video business are using a lot of internet to enhance their own activities and cable television gets enhanced, broadcast television gets considerably enhanced especially news using internet tactics and tools and social media.
So I think they're going to have to just coexist and the smart people are going to do both. And they're going to learn how to optimize their own business plans by using the things that are available to them now, which is satellite, cable, broadcast televise and the internet.
BARTIROMO: Any thoughts on the Viacom-CBS deal? And why the Redstones say they don't want the merge now?
WRIGHT: This is almost like -- I don't know if it's a comedy or a tragedy. Every day there's something else. That's really a family problem. They just have to work it out. I don't think it's an issue that the United States should be facing. I don't think it's much of a Wall Street issue.
Viacom stock has not done well at all. CBS has done very well and they can probably operate that way for a long time until they figure out a better one.
BARTIROMO: Yes. You wonder if Viacom is going to have to sell more assets in fact. So we'll see. I think that story continues.
WRIGHT: Well, I think they certainly -- I think they certainly should. But Sumner Redstone was never a seller. He's always a buyer.
BARTIROMO: Yes. But looking at the prospects of Viacom and what the stock has done. We'll see if there's any changes. I really want to get to the important stuff, Bob, with you, because President Obama signed the 21st Century Cures Act yesterday. That includes funding for the cancer Moonshot initiated -- an initiative, rather. It's led of course by Joe Biden. Watch this. I've got to get your reaction.
(BEGIN VIDEO CLIP)
BARACK OBAMA, PRESIDENT OF THE UNITED STATES: Like many of you, I believe that the United States of America should be the country the ends cancer once and for all. We're already closer than a lot of folks think. And this bill will bring us even closer. Investing and promising the therapies, developing vaccines in improving cancer detection and prevention.
Ultimately, it will help us reach our goal of getting a decade's worth of research and half the time. And as Joe said that time counts.
(END VIDEO CLIP)
BARTIROMO: Bob, you created the Suzanne Wright Foundation in memory of your wife to bring attention to pancreatic cancer. Tell us about code purple. We all love Suzanne Wright and I've had so many years with her and with you. You've done so much for autism and now pancreatic cancer.
WRIGHT: Well, I did a 13-month investigative report on pancreatic cancer. That's what it was. I went through with Suzanne her horror of nine months from diagnosis to her death this summer. And then four months after that I've gone over what went wrong here. What can others benefit by? And that's what this is all about.
I should point out that the Moonshot deal, the whole 21st Century is a great idea. It's $6 billion, $5 billion of that will go to the NIH. This is where I come in. I think this is an opportunity for the new administration, especially Donald Trump and Dr. Price who was going to run the Health and Human Services, to really look at how well that money is being spent.
And I would tell you that in my investigations for instance, the National Cancer Institute has failed in failed dealing with pancreatic cancer for 50 years. There has been no improvement in mortality. Ninety-two percent die. And within a couple of years most of their first year, that's 50 years, every single year, you flunked.
That money should probably go privately. It should be looked at how it can be rearranged. That's what my organization is all about. People on the West Coast now are trying to raise substantial amounts of money to bypass the NIH and I had to bypass them to do the missing project, $20 billion project with no help.
BARTIROMO: Thank you so much for your efforts. Bob Wright. We'll be right back.
(COMMERCIAL BREAK)
END
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