Transcript for Ducking Donald Trump, Fight Over Netflix
-- latest in business in -- From BBC news. You're watching live coverage of the tell -- -- -- -- -- -- fast food group which is dedicated to celebrating America's culinary heritage is marking its 25. Anniversary. There's the opening bell for this Wednesday November 14 hello everyone I'm sunny Hostin here in New York. We have breaking business news at this hour retail sales are down more than expected -- joining me now to discuss the top business headlines this morning is my friend Jack MacKey who -- the co host a break out on our partner Yahoo! finance good morning Jeff. Good morning -- is great to beer wonderful well let's what those retail sales which came out at about 830 they were down point 3%. In October. What impact -- hurricane sandy have. These figures do you think you know it may be a little -- -- I'll tell you what. Chuck he's outlived its I don't trust much what the government tells me anyway at least not -- -- a basis for particularly not retail sales. Not what we're gonna hear from two of the biggest retailers on earth. Target Wal-Mart tomorrow so the -- -- and now we at Wal-Mart does more than a billion dollars a day in retail target does something half a billion. These guys are Americans so yeah we have a little effect from sandy probably. We saw little effect from cars being a little softer than expected but for the most part these government data figures on retail you have been taken with the of -- grain of salt or just not take him at all. Well you know I -- of Najaf we'll sandy perhaps helped sales down the line because certainly more people are going to be making home repairs right. Surely such terrific numbers from Home Depot yesterday and that's your play their companies is -- generators. Companies that salad to its all kinds of things that are related as they rebuild. But the question here's -- as whether or not the -- they -- sandy effect is going to take away from more than discretionary things. Meaning if if -- after windows does that money come straight out your kids' stockings because when you fix something not do a one time. And that's all well and good for Home Depot but I'm not gonna go out by lumber every single year. But if I'm -- keep that money flowing through the economy kind of keeping it going. Keeping that velocity with the economist called the velocity of money which is -- -- keywords for -- -- gimme a dollar maybe I'll spend sixty cents -- it. That's what I want to see going forward a map or give -- more excited about the economy in the whether or not folks. Are buying sump pumps because sandy -- -- their basement. I see well let's not talk about President Obama. Apparently later today he's going to be meeting with a number of CEOs to talk of course about reducing the deficit. Do you think he is looking for -- -- or perhaps selling his -- I think he's looking for a photo opportunity and I think -- he does not in the percentage of -- cynical yes today it after -- -- Well I guess I gotta dance with the girl that from the -- senate it looked at her photo Abiola -- the CEOs have an agenda that is CEOs are looking to talk talk. And so whatever the photo op -- they're gonna get many -- fall and the reason why is because this deficit and really the fiscal cliff can't be avoided in this conversation. That's part actually impact our wallets -- CEOs aren't spending money because they're worried about what's going on in DC and at the CEOs are spent and money. They're not hiring people it doesn't matter how many hurricanes we get -- -- there's just not going to be any money in the economy whatsoever and -- the fiscal cliff. Is not just some abstraction that guys in the financial world like to talk about it's a real budget concern as we come into the end of the year. -- CEOs are very very concerned about it and that's what they're going to be Santa the president. Before they get trotted out of the Rose Garden for all the pictures. Yeah I think we're all going to be very concerned about the fiscal -- how -- -- see things playing out to you think other presidents and congress. Make some sort of agreement some sort of compromise -- you're just drag me -- the Senecal rabbit hole here you know. Here's plays I think you're gonna do this destructive three -- Where they're not gonna come to any agreement because the Republicans said they're not gonna raise taxes and Democrats and he got a raise taxes not taxes get -- automatically. And so the Republicans will never have to raise taxes because -- -- -- automatically the Democrats -- appear conciliatory and say okay well except for the rich. We're going to take back all those tax hikes that happen automatically in about six months from now. We'll have a solution -- fiscal cliff now hopefully at that point will be able to -- -- the economy which is being frozen still. And maybe -- we have -- -- I would look for an end of this cliff talk anytime real soon. Oh my goodness well why we are on politics Macy's finds itself in a bind over guess what -- Donald Trump clothing line. Apparently there's an online petition for the -- to stop carrying. His brands we know he made a lot of headlines during this election season some not so great for his brand. What do you think the chain should. Do. Think they should leave them if they want -- spokesperson it was Lanier and around a coffee and a lot of attention for that change. Why not keep them -- these people who are protests -- getting rid of Donald Trump. I understand what these guys are talking about in terms of free speech I don't get -- I'll get what -- as saying in terms of taking back democracy. Are refusing to acknowledge the election results I don't see what these people are -- -- by saying that I wanna protect our right to free speech by making you not use this -- to advertise. A pox on all other houses and I wanna buy some overpriced suit because -- Donald Trump's name I have a right to do that Macy's or anywhere else. And terms what Mason should do I don't know mr. trump is making money they should keep them and if not they should just -- this publicity for all it's worth. Because you and I aren't going to be chat and -- about Donald Trump's menswear line under any other circumstances -- -- cheaper very very terror. Well. -- Netflix apparently activist investor Carl Icahn is trying to take control. Of next flicks can you fill us in on what his plan maybe. Yeah Carlo I know -- -- I I love -- girls pretending like he wants -- by Netflix and Netflix is pretending like they don't want -- to buy them. The -- -- Netflix needs it needs a a business answered the question what -- gonna do it although I was dvds Bala. They don't have a solution to that and so Karl who also invested in blockbuster video at one time. Saying that he thought they should be bought out that ended in tears for blockbuster video when Chapter Eleven. I think Netflix they don't have a real business model and that's a problem for mr. Icahn may want Netflix to be sold for top dollar. You would like to be 23 years old seven feet three inches tall building dumped from the free throw line I don't give that to happen and I don't think Carl guess where he wants here. -- ingesting -- Jeff -- let's take one more look at the Dow right now what do you think Jeff. Job -- I think we should close the market now we have a lead after. -- -- so much for joining me -- -- -- MacKey from Yahoo! finance.
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