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I want to foxbusiness.com live Tracy Byrnes Chris -- -- 12 o'clock on the East Coast that's nine on the west good morning to all of you out there of course you know I asked already has warmed up any and any other part of the country could it has not here.
We -- market that's up a whopping.
One sorry to almost three points three.
Under I'm sorry I'm sorry -- of our show -- movie in its limited -- didn't we had initial unemployment insurance claims edged up a little bit today.
I gotta tell you the one part of those numbers because they weren't so bad I suppose you could say what disturbs me the most is that.
Up five point four million people are now on the extended or emergency.
Benefits no more than -- people that are on the regular basic 26 week plan.
That's the part I think that bothered me the most out of those -- -- Length of time people have been unemployed in the fact that it's pretty easy to see that the job destruction is is coming to an end.
On the job creation is not -- you -- all these people have been laid off in challenger -- Christmas told us that yesterday is it when planned layoffs rented at a nine year low.
I don't know and I was laying anybody off any morrow.
-- relatively speaking mean to be at 84000 private sector jobs lost last month but that level is done to the point where.
The layoffs -- so few and far between.
But corporations are saying at least for the time being okay I'm good I'm glad I anybody back this right the level where I can make ends meet and make a profit and do all right from.
Everybody is lean and mean but we've said this before you can only suck blood from a stone for so long productivity is up we can now can only will see.
-- -- last summer slump and of course they start caving in saying are we should add somewhere I'll note.
They'll lose and Saunders joins us right now she's -- chief investment strategist -- -- at Stamford Connecticut.
All Lindsay wrote a -- turn turn turn the pages -- a new decade is that a reference to the birds the song by this.
Wondering is song titles -- my titles it's one of them from its prior the only really fun thing about writing some of these things but it's fun.
One and one of the key points of that whole piece that you wrote was all lessons learned from you know what investors learned from.
But only -- last year but in the last few years the last decade has lost decade that we've had what comes topped the mind in your mind in terms of lessons that we -- have learned that we Schuettler.
A couple of them -- The classical version of the mean -- -- no question that it was a very very tough decade for investors particularly equity investors much less so for fixed income investors.
But when you look at that the two decades that preceded this most recent decade.
It was not all that surprising in hindsight to see -- kind of -- decade given the strength of returns that we saw in the two decades that followed it now I think.
There's just this massive amount of pessimism toward equities.
And expectations that bonds are gonna continue to -- perform equities over the next ten years even a simple reversion to the mean analysis.
Puts you back it kind of normal equity returns for the next ten years which I think is a fairly optimistic assumption even though we're only talking about normal returns and -- -- the adolescent.
The classic lesson.
Even though we know we are supposed to buy low and sell high.
Particularly crisis environments investors to completely opposite we saw -- -- we saw massacre consolation out of stocks.
Last march and a lot of those investors have not come back and.
You talk about the pessimism.
And every -- we talk about the -- Susan reading on the volatility and that seems to be getting.
So low right now though compared to where we've been over the last couple years how do you read into that because that would tell media opposite that would tell me that people are wiping their -- and say boy we've all avoided.
Armageddon so to speak and now we're kind of in this middle area.
Look at you know I am not as optimistic as I was last spring in part of my optimism last spring was a function of -- record breaking valuations on the low side not to mention the kind of pessimistic sentiment -- tend to see mark bottoms.
In the market and also quite frankly in the economy.
So I think the -- environment has deteriorated in other words.
As a as a contrary and we have seen more optimism come in that volatility index does measure some complacency.
And we're not.
Quite at the levels of excessive optimism that you might expect.
Give an eight yes 6070% rally off the lows in March but there's no question that it's creeping up into that zone that means volatility is likely to pick up a little bit.
And it's not I think out on a limb to say that a lot maybe not all that a lot of easy money has been made.
So what worries you -- -- -- -- -- are you worried that that money that left in March still hasn't come back and based on the lessons we've learned what's the biggest concern.
What might concern actually is is public sector debt so that that's not tied to the second part of your question but what I -- -- all the things that that trouble me.
It's public sector debt which is frustrating particularly given that the private sector has made such herculean efforts to start to.
And boost savings and and -- -- consumption and start to pay down debt at a fairly record breaking pace.
-- we've offset that benefit overall in terms of debt because of what's happening on the public -- so I'd like to see.
Some spending restraint kick in at some point as far as investors.
That this bit of of too much optimism is largely more on the institutional arena when you look at invested exposure by mutual funds by hedge funds.
We're seeing that bump up in to levels and suggest there's not a lot of additional fuel however the individual investor.
Has really not.
Come back into the market -- mutual equity mutual fund flows were actually negative for 2009 which is quite surprising in light of the returns that we saw.
So I think we still have another little bit of a -- it just may be tougher to get those individuals back in this time because of the carnage that preceded it.
There -- -- piece turns turns and you referenced Peter Drucker.
Quote from him anybody tells you that he understands the American economy ought to be sent to teach modern dance.
And I like the quote and I can certainly relate to it -- what don't you think that.
Goes right to the heart of either the pessimism that people are showing right now -- just the simple fact that that -- certainty that we don't understand the economy.
Is what makes this bearish about the stock market because that uncertainty this leads to the unknown that's gonna happen this year.
Yeah well there's that other quote that I had -- -- to -- show about how pessimism becomes so gigantic when you're coming out of a crisis and you've you enter in this environment where there's what's called privacy bias -- I think whether it's investors -- consumers -- human beings more broadly.
Extrapolate the current set of circumstances too far into the future we know what happens when things are booming and we also know what happens when things.
Are really deteriorating.
I'm not suggesting that there -- an ample reason for consumers and investors to be -- have been pessimistic.
I just think that we often forget some of the lessons about the way the economy works the way the markets work.
Unemployment rate which is sort of beat number one topic right now the thing that everybody hones in on as a proxy for.
The environment when in fact it is such a lagging indicator and -- that's an overused term.
But -- you rarely find people who truly understand how -- an indicator the unemployment rate is and how we have seen bull markets.
Long standing bull markets in place well before the unemployment rate peaks and the simple fact that historically.
Typically when recessions begin the unemployment rate is low and when me and it's high.
But we forget about it when we're in that moment it is -- natural.
-- you you mentioned public sector debt.
States are blowing their budgets left and rights of the states -- broke the federal government's broke we have this unknown.
Waiting to -- these decisions.
How does -- investor didn't go forward and make decisions when all this stuff is unknown and potentially -- mean you know we're going to be printing money forever at this point.
Look I mean that is the.
-- to what is otherwise an improving economic.
Environment right now I you know I'm I'm so long term believer that the ultimate way and really the only long term true way that you can solve the deficit deficit problem is to grow the economy quite simply we can't tax our way out of it.
We certainly can't spend our way out of it.
So the hope of course is that we are starting to move into a more self sustaining phase.
For the recovery and I think we are going to start to see acting inventories are gonna contribute to a much better fourth quarter GDP than a lot of people think.
When you as you talked about the decline in layoff announcements the dramatic decline in initial unemployment claims which is actually closing in now on the kind of recoveries on 1983 much better.
-- either of the two jobless recoveries all of those things are starting to stack up.
So we have the good news of some revenue gains coming back and what that should help at least in the near term.
Some of the state and local finances that sent the picture undoubtedly remains -- there.
Liz we -- at ten seconds do you expect to see top line growth coming out of earning season this quarter.
Yeah I think earnings are gonna surprise pretty dramatically on the upside for the next several quarters the fence on this chief investment strategist -- Charles Schwab Allen Stanford -- you have been dead on the list thank you so much for being -- very much come back anytime you.
-- -- I -- -- insiders getting us up to them what does she -- she has been Joshua this is and she writes -- -- it's the peace issue rates go up on the site available to the public so people should.
Read them will you sing turn turn turn -- there is season please think about it movement and think about a mile -- -- -- -- body right now we're gonna go out to Las Vegas.
And she's gonna join us -- and Seattle as well open mobile.
The coalition executive director -- Bonnie how are things out there.
I mean etiquette sin city.
This city this city that never sleeps this idiot ever shut down and we got all the coolest gadgets in the world here I'm never coming back.
Ever coming back -- gonna see skies acting out.
And this is the biggest -- that we -- and that's -- Eight outlook projects being exhibit 800000.
Visitors thinks it's better if people just walking through kind of out what their latest and greatest in technology.
-- -- of the things that we're talking about is bringing live television.
Here mobile phones aren't here whatever mobile device that you have on that doesn't even watch fox and fox business and anything that you want on the go not necessarily.
Have to deal with Clinton.
With clips are sort of older programming we're joined by and -- as you mentioned executive director.
At the open mobile video coalition happy to have you here today.
It all these -- -- here are all streaming live at Fox News programming.
When you just going to become a reality what is it that you're doing -- -- Bringing it live television to mobile devices.
US -- pastors are applied to publicly TV and money -- these are commercial devices that will be available.
Certainly probably in the spring and we have an LG dvd player television player I'm watching actually live television service on a black -- Through a Wi-Fi access point -- mobile DTV Wi-Fi access point so.
US broadcasters it bring live local television services your local stations that you look to watch for you whether you -- information your favorite program.
For the first time ever for free to these -- it's -- You know at Qualcomm is not bring him there immediately servants we know that Verizon has you beat Catholic service there's all these.
Attempts to -- televisions and mobile devices -- is different and why it's so at what it is it that you need to make this actually happened.
But consumers on TV on the they want what they're used in every day they want to be able to -- -- there.
They want to be able to take their programming with you see you literally could be watching a program in your living room with that's your local -- your local ABC fox NBC.
CBS station and be walking right out the door keep -- you can't do that today.
The difference is this is local broadcasters bringing -- service to consumers.
They're taking the same HD transmission.
That they're putting out of Indiana and -- Adding a mobile transit innocent system that recognizes the signal OK so science at signing up but let's catch -- there's -- -- -- -- -- -- for something so what is happening.
Take -- that well yeah need to gut and get a device yet and there's different options here say if you have an existing device like Apple iPhone -- and I text yes you can just purchased that's and that's been enabling you to watch live TV on that device.
If you want -- dvd player right now -- doubt that Dallas we're showing down Matt with this same type of capability that's perfect sort of device that you can watch TV I'm so also the backseat of the car.
They're not companies and bring great and adding -- I thought any of the vaccine is -- are your kids who probably like some -- Some live television what it costs them.
Well right now what frat house is doing it's really the cost of the device and they're going to be offering this service just like that you did today get free over the air local -- -- service.
They'll also be offering some premium contents and cable type on ten and that he would pay -- subscription you gotta pay per -- basis and a -- -- I had a subscription basis.
The mobile TV anywhere you go Chris.
Thank you crazy I got a question for -- how long you know if we didn't look like grilled him.
If you look into -- crystal ball.
Find this -- cavity how long did -- think before we're able to take a mobile device like that and watch.
All 20300 of our cable channels or whatever wherever we go.
Fell at Chris industry -- asking you.
How far out Wilmington Trust to be able to watch all 20300.
Channels that are on our cable television -- -- -- I -- -- -- -- -- -- 300 channels in a market you get up to about sixty channel like TV today.
On over the air broadcast at a little portable TV that you could put them and he's your ideal target for this is my question is because this sounds like a great -- the F.
Let's hope I want something like that I -- I like having separation of my entertainment and and and my mobile devices and my networking devices but -- people out there that you say.
Really really want us like that right the busy moms with kids.
We tested at a consumer survey and 30% of all -- that they they go out and purchase the device entertain their children yes.
Millennial says -- people at that age is eighteen to 29 younger set that you think wouldn't be interested in net.
Of them came back and -- we absolutely want -- we want access through local information local news yet.
Where we want it so it's not being delivered on a device they want today this enables them to get it on their mobile handset on their netbook and I asked and need to I think want very -- and Tracy.
I think you know what you get your kids.
-- for Christmas in 2010.
Yeah although when you say Tracy and backseat Chris Conner might went somewhere -- -- yeah hello.
-- of -- yeah.
You know me.
And I think I hired her.
And that but that technology is not new it's called a lot man now -- -- -- the -- -- I still around a lot this ambiguous like the size of a Geiger counter and had a little screen like that.
If you could never seen it yet it's huge intent -- they had that one -- old that he.
-- wrap aluminum foil on this intent of it is -- it sees them until hopefully.
That lets pray that that technology is a little bit and that was -- you know receptions -- better.
And it went into them well -- you know that would be so bad -- of a.
And I that happens -- there couldn't break we'll be right back.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- All right then but speaking of Cablevision.
It took us for ever to get on Cablevision here at the Fox Business Network and now more problems arise not brook Johnson president of the Food Network.
Is here with us because Cablevision is no longer carrying.
The Food Network an HDTV two of my favorite stations of course next to Fox Business Network -- where do we stand with -- now.
We had a meeting with them late yesterday afternoon as our first face to face negotiating session so we are heartened by that we made some progress.
Did you the very fact we have the meeting was progress.
They -- wanting us to they want to put the channels that back Tom but they wanna do that in a sort of unconditional way.
Were reluctant to agree to that until day as they say.
Are serious and.
Matching the rates that the whole rest of the industry is is paying us they're asking for a big discount against what are there other cable and distribution paper -- We'll talk -- Cablevision.
Here in new York New Jersey Connecticut I guess right and is that there's Time -- this Cox Communications are so many cable companies around the country to have to do this -- -- -- every now we're gonna have to do this and everybody.
At some point yes in our case we have done it with everyone Cablevision is the sole.
Hold out or stone Waller a -- well.
That is just is just refusing to negotiate seriously with -- as I say we did have a conversation yesterday.
The very fact that was set positive but were so frustrated.
That they pay their own networks a great deal more money and they give their own network's big raises every year.
But for two the most popular networks and television independent you know we're not vertically integrated independent family friendly programmers.
They're just refusing to talk seriously with -- but why.
Why do you think that is an increase -- what they're paying you it you know you're asking for 200% increase but -- still arguably not enough compared to look to what they're paying everybody else would.
We and we are in just talk about Food Network now top 10% in terms of popularity bottom 10% in terms of license fees paid we want to move up slightly from -- bottom 10% that's that's all we're looking to -- Is this model broken and believe me because it just seems like -- -- -- the news -- and Time Warner recently.
Those all of cart method of cable choosing which stations want paying for those on a monthly -- and -- is that next.
That is what we're doing now not gonna work in the future.
-- I don't I don't see why that would be the case I think it's a good model we're working with our cable partners to keep the model intact.
Again and in our case with Cablevision we're talking about -- is just not in effect a Cablevision customers monthly bill.
Cablevision makes a great deal of money selling -- flat sales for fox or food network for HGTV.
I think that miles today's planet -- more and more people are getting enormous pleasure and spent a lot of time with these cable network so I I don't -- -- it's broken.
Bucs did put a request in for an interview to hear Cablevision side of the story we haven't heard at this point.
Talk about what you're doing -- to make up for it for the people in our area I.
I've made it very clear I watch the channel whenever I'm not here I am watching the Food Network I don't cook.
But I watch it.
I know -- them.
But tell tell us what you're doing local WPIX here in New York your Connecticut station you're offering something to -- that doesn't let that have been sort of in withdrawal.
-- we -- last Sunday it was just three days after the contract deadline we ran a show called Iron Chef America super battle animal that's in my head but holly battling body play in the White House -- Secret ingredient was Michelle Obama's White House garden.
That night was the highest rated night in the entire history of Food Network 1010 and a half million people.
Tuned in to watch that telecast.
An out without Cablevision and that absolutely that Cablevision and we just felt terrible that are Cablevision.
Viewers were not able to see it so that if he acts offered to rerun it on Sunday night we're doing now.
And you're doing it also -- station as well that's correct in -- Hartford that's practice Cablevision has they have a bit of a footprint happen up there in Connecticut.
Com or what do you make of what we just saw about what's going on -- the consumer electronic show in terms of mobility that's going to be very exciting for you.
It is it is totally exciting anyway that we can be where our viewers I want us to be is great but.
We work really closely with cable vision and on the other operators.
Two -- limb that where we send our programming and that.
That they -- for the program and all the money that pass goes into programming that's how we afford to do Iron Chef etc.
So they're a little worried about people getting that programming whether it's on the Internet or someplace else.
So what -- good with that fine so where we're not fighting to show our programming here there and everywhere we we want it we want to continue that partnership.
You -- you don't have a ton of stuff on the web very low so now tell people quickly what they can do to support it.
Knock on Cablevision store and make some noise about this thank you so much we've got to web -- I love Food Network dot com and I love HT TV dot com and -- viewers go there.
We have a lot of information on what they can do to help us in again thank you wrote thank you very much Johnson -- president Food Network finger -- hockey vision.
Trying to get back on those and -- So I -- it it's like it if the relaxes me before that I watch it I wish I could cook like that I can't and I couldn't I wish you -- -- that's who you Italian you're supposed to be able to Coca-Cola.
Jay -- when I was like yeah that show its face.
And cook from the place we can you haven't yet sold for a comment on.
Somebody -- -- today than me aliens.
Picking -- cooking and heating.
They -- there's this of but he's sitting with -- so there's -- -- of about obesity and its cost to our health care system right should we pay for the fact that.
You -- to go to the drive through and have four big Macs in one sitting why is that my fault that you are -- -- by the into the that.
Well researchers from Columbia university in the city college of New York say that their calculation they call them.
Quality adjusted life years basically how many years are cut off your life for your.
Reckless behavior then.
The results of obesity actually is way up and believe it or not smoking is way down some of the 3.5 million American adults surveyed.
This is from 1983 to 2008 the proportion of smokers down eighteen point 5%.
That's pretty good okay yeah obesity proportion up.
-- -- That does but -- -- -- now.
Now it doesn't it's a percentage of our population is -- is ridiculous and that's across all the entire country because they're the pockets of the country where it's much worse than others -- Absolutely so I just mentioned golf -- should we be paying for they should we be doing more preventative care things like that to stop this.
If this is potentially what's gonna eat into our health.
It is -- whenever you see somebody honestly out there on site when I see somebody proposed -- practicing reckless behavior.
The cost me money and I looked down on solved sorry hey I don't look at somebody who's.
Eating they can -- -- already weighs 350 pounds and say that's all right you're beautiful on the inside the late night you're costing money on the -- I've got to what.
I did good there art music so there's nothing all that beautiful on the inside deciding.
-- -- -- We welcome.
I think that that that -- it.
We're apparently -- is the fact this year great.
But threw the -- that -- the -- think -- might -- why don't have to -- now all of the caloric information on.
Walls now and fast food restaurants in New York so you can go I didn't see the bacon -- at Wendy's the triple cheeseburger -- king whenever you can go check it out.
Yeah yeah I know -- -- -- next -- is waiting let them.
I know you've -- immense help -- believe -- -- -- my mom sent me this link but if you go -- it's like the twenty worst restaurant meals.
And some number well over three -- -- to how it.
I want to check that out semi -- definitely appliance all right top must -- this here and managing editor of Yahoo! hot jobs in the Vietnam think it's honestly tell Tom's very svelte figure things out I -- -- -- they get it.
Heard that yeah they never heard of it -- -- very interesting yet Yahoo! hotjobs 2010 jobs survey.
Found some very interesting things and one of the things -- those emotions as he was.
It was another survey we saw over the last abilities as a -- Americans are really dissatisfied with their jobs isn't quite what you guys found is right right well is it just think -- -- a big break it down differently so our survey looked at people who are very satisfied with their jobs.
And that was the 38% and that sort of held up.
With last year which is interesting as we saw little -- there because as as you're heading into recession it seemed like a lot more people were saying.
I like you know I like my job -- I'm employed you know but if you look at the other.
Portion needed then that it goes higher beyond that 30% and as people think they're satisfied but if another job came along they go for -- we're talking about 62%.
Thrilled with -- -- yeah right now.
So what did you find as far as salaries and things go our people taking pay cuts these days.
Yeah it's really interesting -- particularly people who are most dissatisfied a lot of them are recent hires.
And those -- people who we saw more -- more saying that they apply for jobs that they were overqualified for.
Or they took a pay cut.
To take to get the job in the last year so stands to reason that those -- the people who are the most dissatisfied and yes looking for better pay.
So you think if we don't have a jobless recovery -- -- -- slowly adding jobs in in people start hiring.
That they'll be a big shift in Minnesota think job creation of moving -- job a good job being.
There could be some of that I mean we found that one of four people who took our survey said that.
If the economy improve their ready to jump -- to a new jobs that could be interesting in terms of what it creates.
In the labor market.
Had a social media -- to all this other web sites all those job searching sites are they working for these people.
Interestingly not that much although we found that 9% of the people who took the survey said that.
They tried social networking sites for the first time in 2009 as a means for finding jobs so that's Linkedin and FaceBook all that's right right so.
-- it seems like the the usage there is expanding so maybe as time goes on more more people will recognize hey this is something worth trying.
You know you've really got exhaust all your options anyway so why not.
We sift through a lot of data here I mean it's every day we get a different report whether it's jobs housing manufacturing or something well what can you.
Add to that in terms of the -- you found a people wanna be hiring would not be hiring in 2010 what do you see with this turn.
Well we had one really good serve optimistic point that we found in the survey because one -- three of the folks who's who took the survey and identified as hiring managers or recruiters said that they plan to increase.
They're hiring activity in 2010 so that's certainly encouraging news and I hope that you know they'll follow through that.
That's -- thing I we've heard a bunch of people saying.
They're planning on doing it just a matter whether -- actually go ahead and you down hand -- those employment papers right right but at this point it's you know it's one more.
Hopeful indicator at least as we head into this year -- -- talked about the people taking less money other other things that that you're finding workers are doing.
Trying to make it to when they're worried about their job to find that job it was so -- -- the final yes we saw some people like people are moonlighting 17% of that they moonlight did in the past year took -- second job as a way to make ends meet.
And then 14% said that they started her own business as a way to find deployments have got you know sort of small pocket out there of.
Basically accidental entrepreneurs but you know they're being resourceful I'm surprised actually that the number was so -- and -- this is like the perfect time to be an entrepreneur -- out there.
That's -- you can buy products.
From you know used equipment at things like that offer people that are going bankrupt I'm surprised there's not more.
Gumption out there yeah that's a good point I think maybe people are intimidated because it does seem like you got it.
Do things like get a website and you've got you know have lots of seed money and Venus I think some of those factors might be preventing people from.
Really giving into those entrepreneurial dreams yet the only thing I notice 11% of responders are going back to school that's something that we.
You talk about as well you know the the the education of our population is actually be helped -- -- in some form of bright bright -- colleges and universities are doing really well you know in this recession and I think it makes sense that people.
You know a lot of people who are getting out of industries that are in decline.
Are getting retrained.
Particularly health -- there's a lot of different types of health care jobs where you can be -- in a matter of a year or two so Tom what's your advice of people out there looking.
Quickly definitely you've got a network network as much as you can online and offline and and cast a wide net in terms of how you're searching don't -- just one site one newspaper.
It really check.
It all out Thomas thought managing editor Yahoo! jobs and hotjobs dot com I should say things to -- them right thank you all right now we are up Boston -- On the market.
Well it's up so it's it's positive it was we were up two points when we started to look what do you guys -- -- -- caught on with it.
There's obviously going to be some market movies -- There's a bunch of movers -- but GameStop is moving down and it bought my high 52 week low set holiday sales were flat from her earlier then.
They cut core quarter earnings forecast as well I don't know I don't know what I'll tell you based on my little microcosm of experience.
There wasn't a whole lot of new stuff out there with up.
-- when -- -- -- I understand that the minute that December because they ate a lot of the great gains cannot November November's tons of great games -- -- -- November.
What I was talking to show -- this morning she got a -- and all this Wii Fit stuff with her over the holidays.
Everybody got -- stuff everybody guy -- stuff I mean I.
I went -- and stop no no.
No I don't -- we already.
You present to them but does this behind -- -- Tony hawks skateboards and everything -- -- pumps like Josh don't act like they're in the bath might.
It's -- tell you it's now -- so no one bought it this year and not do well then I stand corrected them while -- and I know this is because I got to keep kids who use this stuff in them.
Nothing rocked the world that she -- Mean yeah.
She cancels all all day long I see -- he will -- stop coming out with games.
I'll let I'll -- let -- Quickly download speculative because you can download the stuff illegally -- fortunate or legally however you look at it -- not up.
We saw that Beazer Homes actually yesterday reported.
New orders were up Beazer stock was down -- because it also said it was going to sell shares and that includes the market nobody likes to hear that but Lennar today.
Surprise fiscal fourth quarter profit they say this is the first year over year that they saw -- increase in new orders.
From 2000 since 2006.
So there's some and I don't know Megan housing I don't either just I don't either it was it just that bad that you know you build two more homes in the data looks better.
You know Bed, Bath & Beyond I love this place they'll take an expired -- that's like ten years old they'll still take it fiscal third quarter profit surged 73%.
On higher sales -- -- sales for the second time in two years were up.
Then that's not good.
But -- but again green -- second time two years though they've seen it.
Sears -- my catches my eye every single time because I remember when Eddie Lambert jumped on -- Took -- all this year's debt everyone thought it was gonna save the world.
Nose always considered realistic play but now that -- -- and did actually retailing fairly well Kmart seed them.
The hit a 52 week I haven't seen the stock price since September of 2008 there was us and Kmart -- anybody exactly -- same stores sales growth last month thanks to.
Kmart rite I feel like I have to shout at -- I hit just seven about it.
And -- means I'd like it is can someone say with a ton of teen retailers up today fiscal fourth quarter expectations.
And out of the holidays are over pretty good -- Easter fan and with -- it is there it is it is that -- has a great.
The Colleen Fitch is terrible.
Buckle is great -- -- -- great hot topic got drilled at this time around not very good so it's really feast or famine with those summer really good some aren't going to be treated.
You picked the right one yes hot topic of course to -- summer stock on cable.
We're up thirteen despite -- about as high as -- did all day it's pretty close physical Italy's -- on the floor and it stock exchange.
On the cold this is about as good.
We had a today isn't it.
We've been really and then and then narrow -- -- you actually write that gave you really that's what we've been saying that someone like Ted Weisberg.
-- we love so dearly here on the Fox Business Network.
Saying that he loved the tape he said it yesterday to suggested retail sales while we -- just look up there and see fractional moves up 110 of 1%.
Someone like Ted Weisberg says -- like that he liked the way the tape.
Is -- warming Watson is banking stocks.
Posting gains today at 234.
Even 5% Regions Financial soaring Bank of America JPMorgan Wells Fargo all well into the green we've been getting in -- -- as I heard you talking about.
All those retailer GameStop trades right here to my left GameStop.
Right now I had 2033 -- did open.
Heavily did the downside after almost one fox nothing funny about as far as it did diet now I know they're pretty hot on some of the of the video games -- Rock band indeed gave -- heroes some big ticket items late -- rock -- yeah backyard baseball and -- at all -- shopping list.
And really you wouldn't.
Thought that video games would have done quite well because while they will pull out by our plan your sister -- for women to pound.
He never seem to want to disappoint the kids.
But it was a surprise I think to many folks to see how hard hit games that that.
-- today and maybe just ask that you -- in essence what it was but.
Certainly out you can see now the Dow back in the in the green.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Shining today in the Telecom turn around like the -- -- which was down yesterday and today getting a buy rating from Jefferies and I know that Batman beyond the convention often.
Getting some positive analyst comments and negative happened at an upgrade from credit they -- You appear that things that are watching waiting and -- quarterbacking here at the -- -- right at 550 million shares.
And that -- not really in Monday's -- which is a big deal would gain more than one half percent on the major averages and basically home nonsense and that I.
Yeah for two last numbers you can't -- -- Christmas in your world.
You know I think that you say that you know we probably agree he's certainly do the American Christmas but yesterday was the epiphany.
Yeah -- fresh -- that well today Christmas -- in the Greek world you know we don't celebrate that and you know most of it.
Now -- on.
How I like on the epiphany and -- earnings -- And I think that when that finally -- thanks to call.
Read about my -- -- yeah I think yeah despite an eight.
Thank you -- while ago.
The case that he'd think about that I saw that my calendar epiphany was yesterday if -- -- -- that's -- that they kings brought.
Gold frankincense and -- -- what that is.
I thought I was I thought I have an epiphany yeah.
-- the when I -- that it was gone -- by the I think you make me come back we'll check back in with your body geology that some electronics show -- out that I haven't -- about the national championship game tonight out of the road we'll be excited with that.
I don't look back at foxbusiness.com live's Chris -- -- Tracy -- market that's.
That -- swinging itself up three points right now so it's sort of in this tight ranges Nicole -- -- up about fifteen points.
Down with decent for the first hour or so trading down about fifteen points -- time however.
We're at right now -- video that you tell their nerves as we're awaiting this jobs data tomorrow.
All that's really what's pushing the market little bit retail.
Numbers -- to sift through as well.
-- Brenda Ross is joining us from Los -- CEO prime sport and we're talking about hospitality.
Big night for you guys tonight isn't it.
You know the BCS game in this game in particular by one of the biggest college football games of the decade Texas and Alabama it's a tremendous matchup.
Brendan how's -- been -- corporate hospitality sporting events here.
Over the last year and I'll say particularly because we know that banks have gotten hammered over the last year spending any money that you -- always -- banks.
Carried forward into 2010 -- things started to read them.
-- corporate hospitality actually held its own reasonably well and has been rebounding pretty strongly.
The thing about relationships during a recession is that they really become all important and what we do is build and cement relationships so.
When people get together at a party for three or four hours and then go -- a big football game that's is a tremendous experience for them.
And that experience really is something that clients and in our customers just continue to value.
Had you had to slash prices and all our work with people package deals things like that in order to continue to have you know these.
You know the interesting thing about -- BCS game is that prices are actually up about 14% over last year to some extent depends on the match up.
-- and prices for the hospitality experience itself or holding steady notes 275.
To 40500 dollars a person.
You guys in the official hospitality partner for the turn of roses.
Rose Bowl game for the fourth consecutive years tonight's game is a big game for you when you look at.
One of these bowl games we talk about it how there's so many -- 34 bowl games what does -- mean for the local economies it does it depend on where it is.
Los -- it is such a big city so -- so much is going on.
How big is -- tournament of roses for that city's economy.
You know the thing that's exciting about the tournament of roses is that an especially during a BCS years that you've got an entire parade.
Which brings a tremendous amount of economic investment and then you also have to football games spread out by about five days.
So for us building the corporate hospitality village you know a few 100000 dollars goes into that that's local vendors.
I think it's quite a big deal -- -- for Los Angeles.
So -- -- you know people are paying anywhere from you said 300 to 700 dollars a person and you're saying that's held pretty steady but I've got to believe that your.
You know your raw materials -- costs have gone up.
We've seen lots of neat things like that increase.
How do you work all -- into the equation.
You know it the cost are mostly is services cost you've got people who need to put the tenth up you got people that need to bring things in and carry them out we've also got people cooking the food.
When you look at the whole budget food tends to be a relatively modest part of it.
And in many cases were able to get vendors to because they enjoy the exposure that they get.
Two are high and visitors governor Bob Riley and Arnold Schwarzenegger may be there that they'll actually come in for free so we get a fair amount of vendors -- things.
Do us -- salmon and when -- tense I see a lot of signage.
Whether it's local -- it's national how is the advertising that affected.
You know I can't speak specifically to the rules both advertising I know that's sponsorship is that -- I think the parade is a big deal for them.
So that probably has been impacted a little bit more than on the hospitality side where the business of building relationships never really goes out of style it will.
We like to think of -- as a kind of a situation where you go into recession and you kind of want to know who your partners are that you're really -- -- hunkered down in the bunker web.
And those are people that you lot would like to entertain this way.
Do you use sponsors for example if you that you got a Big Ten.
You expecting thousands of people there.
Are you partner up with Constellation Brands for example the provide the line and they provide signings and things like that is that the party of business.
We do I believe that our Super Bowl party and called shine this year in Miami we're gonna have a Carty is a major sponsor got a couple of cigars sponsors quite a few people are going to be coming in.
So what's your what's.
Event brings in the most revenue for you that you bring much base your whole year on.
You know if it's not quite as clean cut -- that thankfully we don't who hates our whole year on any one event.
But what what I will tell you is that the big events are PCS and Rose Bowl.
The NCAA final four is a tremendous corporate event I think the masters is one of the most exciting corporate events.
Because clients to host party down there can actually bring multiple clients -- over the course of the week.
So they can take those expensive badges and recycle them across their whole client base.
And then finally the super balls tremendous we'll also be doing a good World Cup business this year I don't know how corporate -- -- but fans are definitely had at the South Africa this year and that's gonna be really exciting Haskell.
Brendan obviously the events very important mean with the -- is the civil.
You can set up -- ten people will come they will be there but for how much of your business is let's do something differently at an event.
-- to attract people to come to the event that may not go ordinarily.
You know our business is really about taking those corporate relationships and cementing them.
So we -- we don't necessarily stray too far from the formula I think people value people are sort of valued and judged by the company they keep.
So we do look to do some exciting things bring in bands have announcers to attract the kind of celebrity's.
That people do like to see these events so we may have Denzel Washington this year -- -- said probably the governors of California and Alabama.
We'll see some sports stars Robert -- he'll be there Roger -- they make an appearance Marcus Allen will be speaking.
So people like to have some celebrities there and then they like to talk business.
-- if a company wants to sponsor an event like this how -- we find you what's the best way to do it.
If people generally go to prime sport and that's where they find us you know we kind of -- think of our business -- a couple of different pieces but people think about corporate hospitality they often don't put in the same sentence as advertising and marketing.
But for a business that has a relatively small number of big relationships.
Corporate hospitality is generally more effective for them.
You know this really you think about it it's seven degrees in Pasadena today so.
You know where would you like to go after you're done watching this show would have -- to pick up your VIP parking pass head down to the Rose Bowl -- a few hours having cocktails with your biggest vendor who invited you -- -- BCS game.
-- that that's the kind of experience.
That repairs relationships and build them this is nothing like -- nothing like it and for anyone out there who's actually been to one of these big -- possibly the invitation of one of their vendors I mean did it just it's you know it it makes the relationship.
You the answer that question is yes I would like to be picked up in my limo or get my parking pass and had down there you're reworking your butt off tonight you're in it.
All right I -- you worked hard that -- did it take two seconds to watch the game you know work all the way through it.
The list in my -- -- of procurement is responsible for buying all of our tickets.
Actually the Texas alumni so I'll be wearing some more -- sitting on the Texas side and rooting for the long night good for you thanks Brandon.
It's a tough job and had they have put it.
Have followed and yeah us have a crime sport hospitality -- big time suitable things like the masters certainly tonight -- -- to -- out of the Rose Bowl.
Let the national finals rodeo to really didn't talk about the -- these guys are -- the World Cup -- also our DU before.
That you have -- I haven't covered actually in the past -- on my fun at all admirable self.
The lord know -- nights renewables only kidding me I can't tops on the toughest man on earth blows don't know that I would not doubt that.
I would take a break when we come back more Shibani Joshi into the Consumer Electronics Show that's going to be a glass -- -- a powerful prime.
-- back foxbusiness.com.
Live -- difference Chris Carter so we were just on the West Coast we got a head down to DC now.
Rich -- is.
It's just working round the clock even though congress is not there -- Richie has been everywhere and you know what he missed Christmas in New Jersey and I know it's killing him.
-- the president is expected anyways at some point time today to outline report released report that -- Goes over some of the miscues in the -- clues and everything that was missed but with this a Christmas Day right -- or almost.
Attack on the on that Northwest Airlines flight in -- truly.
He it's supposed to be -- this afternoon from about one to three right -- the -- and -- -- Actually -- Jetsons gonna give us a briefing on what the president gets here later on that bridge hasn't gone down there.
Cold but not as -- as you guys.
Would have expected here it'd be different anything differently from the President's Day -- in the fact I look let's face it we all know that we screwed up I mean -- I think we needed cool beyond that and say okay what are the specific steps to fix this thing going -- Right this is this is a two pronged briefing today the first part is a look back at all the steps that.
Intelligence officials apparently missed.
Security advisor Jim Jones saying essentially that this bit of report on now all the dots that officials failed to Kodak full.
BA yes certain shock to Americans -- news reports so that's the -- -- he's given an eye on the back end of this the president will also say with the administration plans to do.
To try to correct this problem to make sure that this doesn't happen again it will involve mostly.
A security procedures at airports but also.
To prevent people like this from ever getting on a flight again to make sure that that one master list of that list that says you cannot board this flight and we need.
More scrutiny before you get on this flight.
That those lists are all intact -- -- apparently -- -- some of what administration officials have been telling us in the preview that even the president's been given that there are red flags.
All throughout this process that officials failed.
To really connect put to this one person did say he needs to be on a list.
That does not allow him and it prevents him from ever getting on a flight -- for the United States and that's -- we expect to hear just few hours.
It's a problem with this whole thing is this is exactly what happened for -- during 9/11 there was no communication there was a list.
Certain agencies didn't know about it and in -- aftermath when they investigated the whole thing they were still all these walls up you think by now this would've been fixed.
We are head's gonna roll -- people who don't lose their jobs to have you heard anything extreme like that.
What we've been hearing from folks some background from the administration is that they don't expect anyone at least in the near term due to this episode.
Will lose their jobs that they will continue going forward in their current capacity and then from there.
Hopefully nothing like this happens again which would would cause anyone to lose their jobs -- at that specifically with this Christmas Day event.
-- the administration at least saying right now that -- heads are gonna -- Mission is it's going to be QA this afternoon as well as it's just going to be a statement from the president and a lot.
The president will speak first and then we'll have the Homeland Security secretary Janet Napolitano also other intelligence officials and Robert -- that gives the white house Press Secretary.
He'll be on hand after this it'll be like back and forth briefing to make -- press understands that.
We're expecting to get this before 3 o'clock president speaks at 3 o'clock about this so it could be at thirty seconds before could be thirty minutes before.
So the press so we still have of the little time to go over this report -- They'll answer questions regarding what -- what we may have for clarification purposes and what might be industry.
Were you gotta hope that there's something solid and no more of this you can't bring shampoo on the plane garbage because this is it's not this is not solving our problem is we're we -- we -- relived.
Potentially what happened back and not during 9/11.
-- security officials will tell you that you really win this fight.
Before they get to the airport that you don't want anyone like this.
Getting to the airport and that's the real issue here they have to make sure they identify.
These folks especially someone who's paying cash for ticket doesn't have any baggage father is a respected person in this country.
And raise red flags to US intelligence officials.
Someone like that really has to raise more more awareness by US intelligence officials.
And take those isolated events connect them as a whole to this person and make sure that if they do get to the airport.
They certainly don't get on a plane.
-- thank you so much stay warm keep us posted on all this.
We'll -- thanks guys doing -- kicked the walls down between those agencies and it's not happening but it.
Tough and getting started I know I won't tell look what's your I'll pay you look up my it's -- battle.
-- at some electronic show what you're gonna go to him only on the on 3-D television you know it Samsung comes out and says.
We are going to be the world's number one -- take a leading role in 3-D television and Sony comes out and says the same exact thing and it's is actor.
Has already come out and said that there they're playing a leading role in in 3-D so you've got this battle of heavyweights right now brewing.
On some unbelievable things that we saw just yesterday this huge Samsung.
LED that was -- -- -- a pencil.
You have the -- televisions you have 3-D Blu-ray.
Disc players now coming out 3-D.
The disc players with surround sound -- all part of the package so.
My question is is this going to be a big thing 3-D will everybody had to have -- like everybody has HD.
-- is -- going to be sort of a novel thing like remember when that video discs came out before.
The -- yes and it of what you bought those and bought the players.
And you had to leap in technology that leap frog that technology in about a year or two years so will we see an -- Look at -- have a Blu-ray dissident -- No -- Blu-ray is not is a problem yeah -- -- this is something that could help Blu-ray because.
Now it's not as easily downloadable with a meeting I can use that technology and -- -- this but you're making me repurchased let's look -- makes me nauseous.
You sit -- got to -- practicing to -- I -- on Allen brought my lunch -- at second I have to go -- but everything now I gotta find new TV and you -- I think that is a huge part of it you know but we've seen with a lot of high -- that people are willing to do that little traveling with -- with iphones -- -- I'm going to go back and buy it a couple hundred dollars you're talking about a big television and then the systems in all the stuff and let's keep glasses around so let me -- Europe -- detractors of three technology -- I'm just reading you right here.
I think you're going to be I think a lot you're -- -- be issues though that I.
In -- but what you know what I'm watching Food Network before bed when it comes back on Cablevision -- -- To see that that slice of cake coming -- -- yeah.
I've got to go -- average -- here lists however man.
Well little retail sales I guess you're buying something last Monday it was a 3-D TV but clearly -- -- sells better than expected -- Like -- we determine this for a year now better than.
A year ago I mean we have one of the worst Christmas seasons in recent memory in 2008 to 2009 by definition was almost had to be better and analysts.
Things have gotten a lot worse than they did obviously we knew it was going to be better as it but it was better than that look low hurdle we were expecting.
Just talk to an analyst great quote you know -- sort of a rising tide lift all boats but it lifted the ends.
More than the middle if you look at who the winners are and the losers are we -- -- The -- -- the discounters the targets of -- -- the world we're gonna do other TJ Max TJX owns them Ross Stores.
They did really well but what surprised some people.
Was the fact that you had Saks Nordstrom really blowing away the expectations there and you know a lot of that the stock market.
Stock market came back you're seeing some wealth effect you're hearing people starting to use that quote some of the investors I spoke to today.
Looking at that -- as you look in the middle yet Costco actually disappointment when you backed -- gasoline sales it's been falling Coles was expected to be a big winner.
Not so yeah I had Macy's the gap they can -- -- -- limited.
Raising their forecast that not even up to where analysts were expecting -- -- there struggling a little bit today I see but I can't seem to find very reach.
Is the because as we talked about earlier -- retail for example.
You have a handful doing rates and a handful doing terribly you have high and some are doing very well some are not.
A big box and -- doing wealthy -- -- cost -- struggling.
Target did very hard -- -- well the expectations -- possible but we -- second you're here yesterday you know retail guru and the only thing he liked was Nordstrom's.
And target him like anything else in the actual apparel space -- he -- the food stores which he's like one.
I like well I mean look I mean we've seen that the business cycle taking its told people but it's also benefiting this is capitalism at it's best that capitalism darwinism if you will.
-- Bed, Bath & Beyond great numbers left after the -- -- in the forecast way above expectations there's no -- Linens 'n Things for them to compete with -- you know Bob -- -- best by doing pretty well that's because -- Circuit City around -- -- you have Wal-Mart but.
There's no certainty direct competitors of these guys are doing well.
And what you're seeing is you're seeing people like an Abercrombie and that you sort of tried to put themselves in that apple -- where.
You don't have to we don't discount anything and -- like apple whose is actually pretty helpful if you go to the store he talked people Abercrombie we have they were sort of -- famously standoffish.
And a you know and analysts I spoke to this morning -- great quotes said.
You do -- more of an air of desperation even above that heavy scent of perfume in the store that 'cause they started slashing everything but too late.
Because similar products are just down the -- at Aeropostale and in American Eagle at a significant discount so.
You've got people who've been squeeze their parents don't have as many -- money may.
Have lost their jobs -- shrink you've got fewer jobs available for the teenage workforce some money again shrinking higher gasoline prices.
In the had a year ago so you've got a lot of factors at play the teens.
Getting pretty thrifty these days that we are seeing is of people who have sort of the right mix whatever that may be.
But at a good price they are going to do well and that's why they are opposed dolls hard.
Eating the launch of Abercrombie & Fitch which was so great headlines down the block.
And I understand it's still headlines from from tourists and -- foreigners coming in here in new York city of that avenue but clearly that's not the case across the rest of America because their sales.
It's -- little nervous like you said and that's why not -- continues to -- through this whole think is as bad as it gets their service has not.
Dropped for a second and they've held on and they've held pretty steadily all through this whole thing and now to see that they a store like that is benefiting you can understand one.
But the thing to watch going forward -- is gasoline prices because we've we've we've been tracking especially over the past three years we've seen -- announced increased.
Whenever gasoline start spiking up and you know we're talking.
A gallon you've really seen the retail sales suffer and in part of that.
It takes a little bit of -- -- because gasoline children included in retail sales when you look at the comparison at first it's hard but when you see get to a certain level everything starts to drop.
The other thing -- to -- -- -- still an active member of this going into 2010 to comparable let's -- we're comparing to December of 2008.
Where you can say hey so and so had same store sales decline of twelve point 8% in December it through 2008 and now they're up one point -- the first quarter last usually pretty easy to.
Yes and it's going to be real easy cops even an old summertime really you have.
Until summer and you know one thing at one other thing is that sort of the winners now are expected be winners through the first.
Quarter first half of the year again because it takes a long time -- -- should I mean the gaps still trying to turnaround from earlier this decade -- -- ever expanded that they -- made some huge product.
Mistakes whatever they they did wrong anyway from -- area khakis and blue shirts or whatever.
They tried some experiments and it's it's really -- suffered.
For a -- much better.
I think you're gonna continue to see more people turn to the web you'll continue to see online sales guy that got that helped as gas prices continue to gas prices and also the weather I mean it's right bitterly cold much unseasonably cold.
Novels of the country good to see a lot of guys and Bob McGregor -- updated on all these retailers into -- if these numbers.
Throughout the course today much of them already have here.
It's 1 o'clock right we got to take a quick break by Joseph she's gonna join us on the other side from the Consumer Electronics Show in Las Vegas and -- 45 minutes from out there.
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