ANOTHER THREE DOW STOCKS ALL OF
THEM HITTING RECORD HIGHS TODAY.
NOW LOOK AT BIG CALTECH THE BIG
TECHNOLOGY COMPANIES WHICH WE
SPEND SO MUCH TIME COVERING.
LOOK AT HOW MUCH MONEY THEY HAVE
STASHED OVERSEAS.
APPLE HAS 253 BILLION, GOOGLE
60 BILLION, MICROSOFT 132,
FACEBOOK 12, AMAZON $8 BILLION.
NOW, A BIG PART OF THE TAX PLAN
WOULD BRING THAT MONEY BACK HOME
RATE.
SCOTT GALLOWAY IS WITH US AGAIN,
NYU PROFESSOR OF BUSINESS AND
JOINS US NOW.
SCOTT, I THINK, NOW THIS NEW TAX
DEAL FORCES THE MONEY TO COME
BACK.
THEY'RE GOING TO TAX IT WHETHER
IT COMES BACK OR NOT.
IT'S A REPATRIATION TAX.
I SAY THAT MONEY GOES TO BIG
TECH SHAREHOLDERS IN THE FORM OF
BUYBACKS AND DIVIDENDS.
WHAT DO YOU SAY?
>> YEAH, STUART IN SOME I THINK
YOU'RE RIGHT.
IT'S NOT AS IF THESE COMPANIES
ARE LACKING FOR CASH.
AMAZON CAN NOW ACCESS THE CREDIT
MARKETS FOR A LOWER COST OF
HAD MORE CASH ON HAND THAN THE
ENTIRE STOCK MARKET VALUE OF
RUSSIA.
INCREMENTAL INVESTMENT, IT
JUST DOESN'T RING TRUE.
STUART: YEAH, IT COULD BE USED
FOR MERGERS, YOU COULD USE I
I DON'T THINK IT'S GOING TO BE,
WE'RE NOT GOING TO BUILD APPLE
ISN'T GOING TO BUILD A NEW
COMPUTER PLANT IN CALIFORNIA,
AND AMAZON ISN'T GOING TO BUILD
>> WHEN YOU HAVE THE KIND OF
CASH APPLE HAS OVERSEAS, YOU MAY
NOT HAVE ACCESS TO IT BUT YOU
RIGHT NOW WITH APPLE'S CASH,
THEY COULD BUY DISNEY FOR CASH.
THEY COULD BUY NETFLIX FOR CASH.
I MEAN YOU COULD LITERALLY SEE
AND THEY JUST DID THIS YOU COULD
BUILD THE LARGEST HEADQUARTERS
IN THE WORLD.
OKAY THEY'VE ALREADY DONE THAT,
SO THIS WILL COME BACK, IT WILL
MOST LIKELY BUTTRESS THE BALANCE
SHEETS I DON'T KNOW IF IT'S A
SHARE BUYBACK WHICH THEY WILL
THE CASE OF APPLE BUT THESE
COMPANIES LIKE TO HAVE A LOT OF
DRY POWDER SO THE NET EFFECT OF
STUART: EXTRAORDINARY STUFF.
ITS BIG HEADQUARTERS DEVELOPMENT
IS GOING TO BE AROUND ATLANTA.
THEY HIRED A LOBBYIST WHOSE
GOING TO GEORGIA AND THEIR
SPECULATION IT'S ATLANTA.
WHAT'S YOUR INPUT ON THAT?
>> WELL THIS MIGHT BE SORT OF A,
YOU KNOW, SOMEONE WINKS AT YOU
AND YOU MISINTERPRET IT.
I'M NOT SURE ONE LOBBYIST MAKES
THE MOST SUCCESSFUL IN THE WORLD
BUT THERE'S A LOT TO LIKE ABOUT
IN TERMS OF FLIGHTS AND
LOGISTICAL CONVENIENCE AND ALSO
WHAT'S NOT TALKED ABOUT IS
ATLANTA HAS A CROWN JEWEL IN THE
THERE HASN'T BEEN A COMPANY I
WOULD ARGUE THAT'S CREATED MORE
THAN $10 BILLION IN SHAREHOLDER
VALUE IN A 12 MONTH PERIOD THAT
ISN'T A BIKE RIDE FROM A WORLD
CLASS ENGINEERING UNIVERSITY SO
YOU HAVE THAT WITH ATLANTA BUT
AGAIN, THE NUMBER ONE THE KEY
CRITERIA FOR ANY HEADQUARTERS IS
SOMEONE WHOSE SERVED ON A NUMBER
OF CORPORATE BOARDS IS WHERE THE
CEO WANTS TO SPEND MORE TIME AND
THAT'S WHY I STILL THINK IT'S
I THINK THE SECOND HEADQUARTERS
IS IN THE NEW YORK METROPOLITAN
AREA.
STUART: WOW OUT ON A LIMB THERE
SCOTT GALLOWAY.
OUT ON A LIMB.
I WOULD ALL THOSE BIG PAY
EXECUTIVES WANT A MOVE TO NEW
JERSEY ON NEW YORK WHERE THEY'RE
GOING TO, YOU'RE LAUGHING.
STATE WHEN THEY CAN'T DEDUCT
THOSE LOCAL INCOME TAXES, YOU
WITH NEW YORK IS NOW THE ONLY
MAJOR METRO IN THE U.S. WITH
THREE WORLD CLASS UNIVERSITIES,
IS THE ABILITY TO ATTRACT AND
RETAIN THE MOST TALENTED YOUNG
PEOPLE IN THE WORLD AND THERE
ISN'T A 22 YEAR OLD IN AMERICA
WHO DOESN'T THINK I WOULDN'T
MIND SPENDING A FEW YEARS IN NEW
YORK AND NEW YORK RIGHT NOW IS
THE MOST INTERESTING PLACE IN
THE WORLD FOR YOUNG PEOPLE AND
THAT'S THE KEY FOR AMAZON,
UNIVERSITIES THE ABILITY TO
ATTRACT AND RETAIN YOUNG TALENT
AND ALSO AGAIN THE NUMBER ONE
INDICATOR PREDICTOR WOULD BE TO
GET JEFF BEZOS TAIL NUMBER ON
HIS PRIVATE JET AND SEE WHERE HE
THE SECOND HEADQUARTERS WILL BE.