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tv   Cavuto Coast to Coast  FOX Business  May 9, 2024 12:00pm-1:00pm EDT

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stuart: interesting trivia question. when asked what was the average length of a movie in 2022. you can read the choices on screen. you are first. ashley: oppenheimer was three hours. i will go with number 2. one hour and 40 minutes. lauren: an hour and 47 minutes. stuart: i will go with number 4. one hour and 55 minutes. there have been some very long movies recently. the answer is one hour and 47 minutes. in 1930, the average runtime was one hour and 17 minutes. there has been a 32% increase in run times for films. thanks for being on the show. coast-to-coast starts now.
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neil: this is a fox business alert. dow jones industrials firmly in the green. if it holds in the green, anywhere in the green it would mark the seventh straight day it has done so. that is remarkable when you consider the wall of worries, barely climbing through college protests and unending israeli war and hush money probe but playing out as we speak on the corner of wall and broad. perhaps the embodiment of capitalism itself. very happy to have you. let's get to the head of that exchange, not only saw this rally coming but the initial public offerings few saw coming as well. see if she still is. very good to have you, welcome.
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>> it has been too long. neil: first off on this market and this resiliency and perseverance, in the face of all this noise and what do you make of that? >> this is really showing that us capital markets are the envy of the world, most efficient place to raise capital. if you look at the markets through the end of last week, they've only raised more proceeds. and indian tire 2023. i've been optimistic about the ipo markets during this period. i continue to be optimistic about the way the rest of the year is shaping up.
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neil: what's going on in these markets, by and large everyone is focused on magnificent seven. i'm always intrigued by how you started to love technology and numbers, as a kid playing on a commodore 64, playing video games and i was doing the same thing, you can do better than i did. i'm not jealous. i was fascinated not just at the games i was playing but the word processing capability and all the things you do with machines and interaction you are getting from a machine. fast forward to today, all that on steroids. >> reporter: if you look at the efficiency technology has brought since i was playing with that commodore 64 made it no transparent to invest. made it cheaper for you and i to manage our portfolios. it made the markets more
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interconnected. it now is adding the next layer of transparency through artificial intelligence like you said but importantly artificial intelligence is the next generation of what is a data-driven trend. all about the data. you add transparency and efficiency to marketplaces, to your life and everything you do. if you have bad data you will have unfortunate outcomes. that is what i'm spending my time thinking about and all of us are spending time thinking about. how do we ensure proper data, high-quality data enters into the models to generate those outcomes that we are hopeful of. neil: been here, done this, kind of reminds the internet boom, more than a few survive,
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the internet has become a mainstay of who we are and how we see a lot of companies attaching ai to what they are, sometimes justified, other times a bit of a stretch. does it worry you that we are getting ahead of ourselves? >> it doesn't really because companies like us, our parent company, ice, thinking about deploying get ai very specifically and use case given. many of the ceos i talked to are taking a more thoughtful approach. in other words we all have seen where a hot trend can lead to a rush to certain behavioral changes. this one is different. a lot of us are thinking about ai in the right way. how do we protect our data? how do we add efficiency? how do we transform our
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operations to make our businesses more resilient, more forward thinking? build the next great innovations. neil: sorry for jumping on that. i have no doubt that it has changed. i'm wondering about all those companies you house and allow them to trade elsewhere. they can't all hit it out of the park, we concentrate on the magnificent seven but if you look at the nasdaq and etfs and others around the world to technology, they are running away with it and i am wondering if that could get long in the tooth. valuations have improved, these companies make a lot of money and that could justify a lot of bump up in price. how are you on this sorting out? >> our community is being very
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thoughtful about that one pillar, that is so critical to implementation of efficient ai and that is data. how do you protect your data? what proprietary methods can you build to ensure that your data is protected and is helping you generate the right outcomes? if i look at our community and our listing standards and average market of our companies, the largest companies in the world, the most thoughtful companies in the world, the average market on the nyse is around 16 times higher than other exchanges. our companies spend a lot of time with a thoughtful approach, deploying a very thoughtful approach to implementing newer technologies. a conversation with everyone in our community.
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neil: i look at a lot of surveys, a lot of polls, consumer sentiment surveys, i pay a lot more attention, not because i don't think they were valuable to how corporate cfos feel about things because they do the hiring and might be telegraphing any problems on the road. to a man or woman it doesn't appear, they don't see it, dramatic slowdown coming, off of a blistering pace with some parts of technology. that is there sentiment for the time being, recession, bumpy ride but a good ride. are you in agreement with that? >> the economy is incredibly resilient, the us is the truly greatest economy in the world,
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most resilient, economy that leads the way for the rest of the world. however, we still have to get to a landing. inflation, the most recent inflation trend was a little bit higher than everyone expected and you saw the market react to that. the equity markets react and you saw fixed income markets react. when i look at volatility indicators i'm looking at both indicators. on the equity side of business which is very muted, great environment, the other metric i'm looking at is movement impacts, the treasury volatility, that is incredibly elevated. to me that means the market will fluctuate and that is okay because of the strength of our economy.
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it's not like we will wake up one morning and say this is over. we have to manage through it but incredibly optimistic given the way the us economy has performed in the last two years. adam: the economy itself is resilient through all this. this is a presidential election year, nothing to indicate that could change. you mentioned the volatility index, we are all a little bit too calm and happy about what's going on. more of us are worried and a constructive development but we are not by and large.
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>> sentiment is concerned, the consumer has been driving the strength of the us and economy. there's concern, because of inflation, things cost more money and there is a general frustration in the market around the market and weariness if you will. there are prices that are elevated, goods, services, whatever the case may be. i don't think that takes away from the fact that our economy has been set up to be robust. it has survived not just the most recent pandemic but economic shots, time and again it proves more resilient than it was previously. when we wake up, we have a light at the end of the tunnel.
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we will say our economy really showed its strength. neil: if the fed doesn't cut rates, we might see something, then what? >> i can't estimate what the fed will do but when i woke up january 1st, the equity markets were pricing at three rate cuts, fixed income futures were pricing in sticks, that has shifted, something that is going to shift based on the data. the data that is so critical to running the economy. we will see. the market has proven from january 1st three rate cuts priced into the equity markets, 5 or 6 in the fixed income futures markets, now to the point where we are talking about one rate cut.
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and equity markets still trading at all-time highs. that is still a great story for the us. neil: don't make yourself a stranger. lynn martin, president of the stock exchange. always good seeing you. mark meredith, what is that? mark is one of our best correspondents, following what the president has been talking about and addressing and that is no arms or some arms for israel. what's the latest? >> never had a commodore. i started on regular nintendo in 1990-91. as we shift away, sorry to bring it up, president biden is employing the israeli military to be more careful when it comes to protecting civilians
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in gaza. if not, we will see military aid held further, generated some considerable pushback first. we will see what the president had to say on wednesday. >> president biden: to make it clear that if they go into rafah, they haven't gone into rafah yet. if they go into rafah, i am not supplying the weapons that have been used historically to deal with rafah, to deal with that problem. >> reporter: those comments have republicans and top israelis outraged. how speaker mike johnson is urging the white house to tread carefully. a few weeks ago the speaker put considerable effort and political capital into getting congress to pass additional aid in israel. >> everyone can see that this is a political decision he is making. he is terrified of the pro-hamas wing of the democratic party. >> reporter: what's interesting is even some democrats are criticizing the president's comments. as the leader of the free world, america cannot claim its
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commitment israel is ironclad and sent mixed messaging that makes a mockery of our credibility as an ally, no one will take our word seriously. the white house is under pressure to appease younger americans especially those who have been protesting on college campuses, they demand the cease-fire to save lives in gaza. we've seen far left lawmakers who think the white house has not done enough to show support to people protesting like the one you're showing in san diego. i was at gw yesterday, the indications were the students were going to try to get their voices heard. the president's response to this pressure coming from the hill, he heads out of town later tonight. neil: congressman pat fallon of texas, the house armed services, he knows of what he speaks, good to have you. you might know a little more about what a president can or can't do than i do but i don't remember one parceling out the
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aid that was already committed to a country, any country, in the middle of a war in said country. can he do it? >> we are in a situation where the president is going to respect the rule of law or rule by decree and president biden has been ruling by decree. these funds have already been approved and authorized and appropriated by congress. 535 members. the president signed these bills into law and he is ignoring this. he's putting conditions on the israelis but not on hamas. the $9 billion that was part of the package for humanitarian aid in gaza, he's not trying to hold that up until the hostages are released. i find this to be troubling because it will degrade our trust with our allies around the world.
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neil: barack obama did something similar with israel, it is akin to a commitment that was made, if you have a fixed price of our table in the restaurant decides not to give you the potatoes, figured you didn't need the desert and they are starting to take things away and you already prepaid for all of that or at least been promised that. that is a slippery slope, no matter how people feel either way. >> that's a great analogy. would you go back to that restaurant? you wouldn't consider it again. that's what i'm concerned about. not only is this eroding the trust between congress and the white house but also our allies and our enemies around the world are watching this and what xi is thinking about the commitment united states has to
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taiwan if we can't have an ironclad relationship with our closest ally in the region, being israel. it's misguided and it is part of president biden's two state solution, how he wins michigan and pennsylvania. it is very political. he's trying to appease the pro-hamas wing of the democratic party to get young people not to abandon him come november. also muzzle americans incredible swing states. lauren: 20 just amazing, always good having you. thank you for your service. pat fallon of texas. let it be known this is the day stormy daniels's story has become a big fox business story because by and large you know what they are talking about? money. money money money after this. ♪ ♪ why can't we be friends ♪ why can't we be friends
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her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for. adam: this is the day money became the centerpiece of the stormy daniels testimony going on.
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day 2 of the testimony in this has many trial. money was a dominant theme of a lot of what she says and is saying now was driven by money. might be overly simplistic, he heads for the details. what are we learning? >> reporter: you are not oversimplistic about that at all. they are trying to show stormy daniels was only interested in money. they went through a lot of stuff this morning in the cross-examination talking about details of the nondisclosure agreement with michael cohen on behalf of donald trump, for communicating with the fed. the former president's lawyer, slammed stormy's motives during cross-examination. challenged details of
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recollection, at the slippery golf tournament in lake tahoe in 2006, came to the penthouse hotel suite and then had sex, trying to pick apart that claim. said to stormy, you made this up, stormy answered no. her story has not changed through the years, though they tried to pick that apart. is a picture of stormy, the attorney, in the witness room tuesday, after making the deal with michael cohen, that was signed 8 days before the election in 2016. she admitted she was afraid she wouldn't get the money because she thought trump would lose the presidential election. then it veered into the paranormal, stormy admitted she can speak with the dead including her deceased relatives. he tried to portray her as unreliable and a bit crazy. florida senator rick scott arrived with the former president and repeated the
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former president's claim that this is political. >> the lead prosecutor was the number 3 person that biden justice department, the judge's dollars a critical operative and raises money for democrats. you've got the lead prosecutor's wife, significant donor to democrats. this is a bunch of democrats saying we want to make sure donald trump can't talk. >> reporter: the manhattan da says politics has nothing to do with this. the new york state committee on judicial ethics has ruled the judge's daughter's work for democrats does not pose a conflict. look behind me, this is like an
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ad, don't know who it is, that's are cross from president biden, you get a feeling of what is going on in court. the defense cross-examination is over, time to redirect. adam: eric shawn at the new york supreme court, we got john you also as he sees it. the cross-examination, and the defense has been arguing, and it is a big moment at the end, the money part of this front and center. >> the prosecution is trying to restore the credibility of stormy daniels. and from the sound of it i
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don't think trump's lawyers look at could ability, it's a hard thing to do. there attack on this being you make this all up, someone who takes their clothes off and has sex on tv for money, i take my clothes off and have sex on tv for money. why what i make anything up? i show you everything i do. it is a hard job to attack the credibility of someone like that. the prosecution if they are smart might leave things alone and move on to michael cohen next. neil: this is a family show but that is okay, you're a busy guy and a brilliant guy. seriously. go ahead. >> i don't think my mom sent me to law school -- neil: it is a strange world. one thing i was thinking about is how far and how damaging the
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testimony could be and could it be the kind the jurors can't an here, the other issue comes up about donald trump and whether he ever gets on the stand. i would think because of what she has said, because of her saying this incident happened, they did get together, they can't put him on the stand because he will get grilled on the same subject and that doesn't seem to be to be in their best interests. you are a lawyer. >> this shows you should have gone to law school and made big bucks as a trial attorney. this is what the prosecution is up to. they are baiting trump. they would love trump to go on the stand, put him under oath and get them to commit perjury and throw him in jail for that. that the felony. none of these facts they put on with stormy daniels have
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anything to do with these flimsy legal charges. what they're doing is trying to drag trump through the mud, turn it into a reality tv show and maybe trump makes a mistake and get on the stand and testify send the prosecution can really go after him. that would be alvin bragg's dream come true to get trump to take the stand. neil: the one case that is being adjudicated before these other ones seem to be getting pushed back if not dropped altogether, that could be it, this could be the one that you watch. >> that is right. this looks like the only one that is going to get the verdict before the election, the others seem to be dropping away because they were all overreaching and shabbily done and falling apart as we speak. neil: charlie gasparino coming up after the break but this other issue that has come up, the document case postponed
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indefinitely, january 6th thing is hanging in the vine because the supreme court has to weigh in and taking its sweet time on that. to say nothing of the fani will a situation, might get removed from the case. those are three big worries for donald trump that at the very least get pushed back and not go away. and advantage trump. >> trump has had the benefit of his enemies. his enemies are pursuing him. they went too fast too far, a former justice department attorney i was shocked at how shabbily done the prosecution's where. they were not up to the high standards, trump by fighting back revealed the flaws in these prosecutions. this could be the only trial that could get to verdict. this might be the lasting memory for many voters about
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these trump trials, stormy daniels, michael cohen and salacious details. neil: my hat is off to you because i believe when all is started, you were laying them out in that order and that is likely to be the case. not too shabby. even though this is a family show. always good seeing you. hope to see you again but have to talk to our monitors here now. thank you. speaking of monitors we put this one on, charlie gasparino is coming up after this. after this. (♪) what took you so long? i'm sorry, there was a long line at the thai place. you get the sauce i like? of course! you're the man! i wish. the future isn't scary. not investing in it is. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund
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neil: we are told stormy daniels is done. i don't know if the prosecution got to redirect for the last couple of trial days. yesterday they were off but she is done. her lawyers assumed she would be at the courthouse soon. charlie gasparino is following this and there's a business angle here. charles: sources have confirmed this would be a porn movie, the next porn movie of stormy daniels. they have not cast the movie, don't know who will play donald trump, we don't know, just kidding. but let me be clear here. if i were to write a porn movie, my next, who knows, there's money in this, trump was interested in the business
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side. neil: anything coming of this? charles: i actually did reporting. does this thing -- what happens? if trump -- a big if. aside from the salacious nurse, a lot of this stuff has no impact on the charge of 5 campaign-finance reform. the judge allowed these weird salacious stuff in there. it is so immaterial. it is prejudicial. he claims trump's lawyers didn't stop the prosecutor from going there but it is up to him to be the arbiter. neil: those are appealable grounds. charles: it is a stupid case.
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he is going to be president. neil: it is not hurting his fundraising. charles: what we are missing, former president, maybe the current president, aging porn star, convicted liar in michael cohen, you can do flashbacks. neil: i was mentioning this, setting up his testimony but it removes the possibility of trump testimony. charles: john you was right. that would be a real case. not this fec and everything. i have a little jetlagged here.
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neil: what do they think over their? charles: they are more worried about anti-semitism on campuses and the business world. i would say, a lot of democrats go to milliken, they are leaning towards biden. they can't believe how bad the democratic party has become on israel. if there's one defining thing. neil: it is relatively tight. charles: trump has issues. biden can't put together a coherent sentence and is withholding aid to israel to kill terrorists. i am going back to my original story. it would be flashbacks. you get stormy daniels and go into this room with donald trump -- neil: trying to get out of this.
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>> welcome back to coast-to-coast. i'm edward lawrence up the white house. more people ask for government assistance because of loss of a job, more than expected last week, a lot more than the week before, 231,000 initial jobless claims were filed. president biden says he is in charge of the strongest economy in the world. here's what he told cnn. >> president biden: no president has had this turn in increasing jobs and inflation was 9%. people have a right to be concerned. >> reporter: the fact is inflation was one. 4% when he got into office. president biden started making policy changes and inflation rose. cpi inflation hit 9.4% in june, up after president biden became president.
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the president justifies the president's statement saying covid caused inflation and it was already happening when he came into office. the president's stance on the economy is a terrible mistake. >> experiencing it through the lens of the cost of living and he is a man who built his career on empathy. why not lead with the empathy. he's making a terrible mistake. it may not be if he doesn't win this race, may not be donald trump that beats him but his own pride. >> reporter: we have inflated mortgage rates, 30 year fixed pullbacks. mortgage applications double digits. polls are showing people are feeling squeezed from all sides. neil: the 7% rate is the average now down from the week
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before. ethan and elizabeth picklestein, printing them on the ratings. that's a tv series that has a lot of buzz. good to have both of you. and get your take on what our reporter was talking about. the administration's optimistic. the economy is looking good, interest rates are stabilizing. that their way of saying housing is looking better. is that what you see. >> i would be focusing, regular homeowners look at. we are in the business of cheap old houses. and we do it -- can't wait to show people how to hack the
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housing system, to create real estate, fixup real estate that's more affordable. people are struggling and it is a very difficult economy and inflation is high, mortgage is quite high. we know people in the real estate business struggling to close deals. the housing market is a market that we would love to see people taking these old houses across the country. we run in instagram feed that features housings under $100,000. we are showing people's lives literally change over taking a house and fixing it up. neil: people feel housed out. when you show these monstrously dilapidated homes. i look at them and say it is
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such a headache. even though i might get this, it will cost a bundle to fix it up and i could entertain reselling that. how do you balance that out? >> i will say all houses have maintenance. i would rather work on a house built with solid materials that can be repaired and worked on overtime versus newer homes that are often built with subpar materials which quite frankly are also unaffordable at this moment. we went through the crisis and know what that is like. what you are seeing on the side is a firehouse being purchased in upstate new york in a town that is struggling a little bit with their economy but people are looking at these homes and realizing the bones of these neighborhoods and investing in them.
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the media has always portrayed old houses as money pits. we run in instagram feed, thousands that purchased homes, houses for sale for under $100,000 that end up having an amazing time because they have an entry point into a competitive market by having low closing cost which means money left over to do the restoration work. neil: you are making it work, people like me to doesn't have a hammer to hold you show the possibility, not too shabby. thanks very much, continued success. seems like you have it in spades. the star of who's afraid of cheap old houses, not bad. clearly we've got the markets on a tear here. what's going on behind that? and streaming and bundling all those services you used to purchase separately that you can purchase all to gather. that is cheaper but suddenly very popular. ♪
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neil: remember when we cut the cord and went to streaming services and it got to be expensive because streaming services got to be expensive and they are bundling back together. bobby knows a thing or two about this. that is a big trend, to bundle them together to save some money and make it alluring to customers but you explain it? >> reminded me, when saying you shouldn't overcook a stake because it defeat its own purpose. the bundling is defeating its own purpose.
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and it is more expensive, if you are separating disney and hulu, looking at four services, two of those are together. and people made so many hours in a day, and and it hasn't been successful. the more bundling, the less attractive they will become. it is only so many shows and so many hours and they spend more time crating better content especially in the form of disney, repurposed target of the star wars characters, looking at marvel which deviated from the comics and doesn't look like anything, those of us who subscribe to
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disney would want to pay attention to. it is more about the content than the value. at some point with inflation where it is, people cut cords, and in the streaming world. neil: raging bull -- let me get your take on how some people might be convinced to do this. might be multi tiered services, this will have ads, that one will have ads, how do they make that affordable to people if that gets to be the consumer? >> it does need to be the ad support services. i want to see them do it in a different way. one say -- one is being done by youtube where the ads are in the beginning, they are in the beginning, people have gotten spoiled by netflix continually streaming things and binge watching the things. commercials are more annoying than they were when we were
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kids, not excuses to go to the bathroom or refill your popcorn but annoyances. the ad supported things, when i look at this, i like warner bros. stock a lot more than disney's. disney was upgraded by raymond james, downgraded by rosenblatt and others, recovering from this based on bundling is not the right plan. it's contact. it may not be the way to get more subscribers but is the way to get more money in the system. neil: you are good at this. if i understand what you are saying, that's not too shabby. this might not be as much as it is souped up to be and depending on the players and the right combinations, it could be. jackie deangelis and "the big money show" guys taking you through the next hour. jackie: great to see you. i am jackie deangelis.

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