Aug 11, 2015|
Full Show 8-11-15 by The Financial Exchange
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
I. This is the plane then she'll exchange we've Barry Armstrong. First greens stay on top of breaking business news and balloon how to manage your money to help you towards a more secure future he'd still financially exchange with the euros. Barry Armstrong here. My co host today Michael Armstrong and we're covering a lot of major stories we have no less than twenty stories up and try to get through today alone. The lead story of course is that of China. And we will be joined by Heather long. From CNN money to talk about. China's dirty pool yet again China manipulating their currency to their advantage but to the disadvantage of American workers. No big surprise there are certainly helping them out and exports by diffuse. It's conflicting you know for a long time China's been trying to become one of those major currencies on the world market and this just proves. As it has the last you know decade that there. Not the world proceeded don't. Let their currency fluctuate freely in the right and can be accepted global cards they're about as trustworthy as the Russians. And and you know Wear jackets anyway. Lots talked about we will have full China coverage. Coming up in about ten minutes right now though I wanna go back in time and revisit the story of market basket. Market basket a year ago was mired in a work stoppage in it had to do with the dispute between two cousins the cousins. Good cousin was RTT double us. And bad cousin of the bill one who played the villain in this saga was RTS demos they both owned. Part of the company and RTT Douglas wanted to buyout RTS to moonless. And as a result the the company was effectively closed their stores operating at a fraction of capacity last summer well. The deal worked out party T was able to buyout the remaining shares from party asked them loose it's now a year later. And there's an organization that has gone out and measured the pricing. Of market basket wooded Wheeler. Well later. Measure the pressure of about sixteen items that market basket and several other Boston area an area grocery stores and it. It found that market baskets increases were the highest among their competitors have increased by 9% as Stop & Shop increased by eight significantly increased by 7%. I'm so market basket they have some of the highest increases that said they are still. One of the cheapest competitors out there so I think said that their point 9% cheaper than star market in 15% cheapest Stop & Shop this basket of goods. There are chief competitors out there about Jennifer I think is one of them Egyptian favorable yup and also mentioned favorably about you know certainly the highest increase in part of that has to do with that if your call. The whole time of this there's that 4% discount that you get just by by shopping there said discount on all goods and they actually went back. Right he continued that through the end of the year honored. And then discontinued at the end the year moderates beginning at 1215 that's certainly played a factor but yeah across the major. Resistant that I don't find this particular surprising you talked about a considerably you know they're not they're still cheap option out there but there increases have. Have outpaced the rest of the planet like you to think about it from two perspectives. You have. The issue of the loan right RDT do Melissa had oral. Somewhere around one and a half billion dollars to buy out his evil cousin RTS to move us. And be at the time Michael that was a very dangerous loan to make the list it was an unknown as to whether or not they could get the shoppers back in the store sure. Right so they had to go to private equity firms and hedge funds in order to borrow that one point five billion dollars because there wasn't enough collateral. Party system will RTT the most didn't have enough cash. To come up with in the Stanley would come up with the cash concede to borrow the money. And he put the what I'm hearing for interest rates on those soldiers anywhere between eight and 11%. Now that'll be temporary rate of interest that he has to pay because it was a high risk loan at the time. Now the stores are back up there are operating at full capacity I've got to believe that they're very profitable based on what we're seeing the price. Mean people aren't. Lobbying going in there and shopping that people fought back the story is very quickly so certainly I think the stars are doing well. You don't got a lot of people texting and right now Sanyo market basket still the cheapest out there and you know that there were false on this and you're asleep right market basket still is the cheapest of the big mainstream grocery stores out there and the point is only that. The gift that change and they had to raise prices yet they had to raise their prices there's still the cheapest out there everywhere else entering the prices low well I thought Hanford was cheaper. I don't think that have service cheaper I think there is. I think there's one other that they mentioned there's a smaller grocery store chain that didn't really carry the full service type stuff that. That market basket that you may be right that interest you that again the scene you've got you've got. Eat the long that he asked to make the interest payments on right and indeed they also opened up a lot of stores that's expensive when your opening up new stores opened up a store. In Massachusetts on route 128 beautiful store it's three but it's expensive they'll have to understand that and so they raise prices. The only thing that they did though. What is party T. Took care of his employees. This is a story it was covered earlier in the year but he gave them big bonuses in the about a lot of races to the employees who supported him through the works yet so. You know RDT. Riding the tyrant and and the fact the matter was his prices were so much less than its competitors he could raise the 9% and still be. The low car oh yeah I guess that is still fifteen to 20% cheaper than all of its competitors don't ya the the if there is some griping if there have been customers that have complained. To that to market basket managers about the increased pricing. But overall still seems to be pretty good shopping operation. Unfortunately the same cannot be said for whole foods they seemed ages. Be it can't get out of their way they certainly can't test this stems from a case it was done in New York recently. By you know whether regulators there they went sampled a number of goods and you know Bruce that are sold by weight and they found that. Whole foods was pretty dramatically over priced items and calculating weights that they were based in prices on so. You saw things like chicken being sold for four dollars more than it should have banned again just. You see in this and other grocery stores in the past remember Connecticut based registering at a real big issue with this unethical business practices. It doesn't sound like it was an accident that it sounded like. It's going to be tough to prove that this was intentional and is happening it stores across the country but they sampled eighty goods and all of them warmest. There is a big big issue so shareholders taking issue with this. You know they saying that the did you intentionally hurt the stock price. There are some rallies and some whole foods stores a while back when this all broke so not good news for whole foods there already seen problems as the competitors are getting into the organic foods based. And and it got issues like this which is never good headline news. Well speaking of organic and competition market basket is actually one of their competitors. For organic fruits yeah they've got a great section and it's a lot less expensive you know that and I can come back to. Pricing I think whole foods had that lead there for probably ten or twenty years where they were kind of unique in it was a different shopping experience. And the price point didn't seem to bother consumers. Now I think what's happened is other stores have figured out that game and today. There's a lot of money to be made in organic right and we don't have to charge twenty bucks a pound for salmon in order to to get it. Yeah and that's that's what they've done here the consequence of that. Is whole foods stock used to Trace Heinz 57 dollars a share within the last twelve months it's currently trading at 34 dollars a share. Bouncing along the bottom as we like to say here rated their 52 week well you need me to the but. It is a unique II like shopping. And whole foods until like it is checked out if if if that's that's the Dow's third Saturday of focus. Him whale world I would you're walking through isn't it nice Xperia it's beautiful languages lighting Easter great food is made the prepared foods or grade here's my experts I live an island summer on cigarettes right next to a whole foods and it might I Condo borders a whole foods in hand. I end up going there a fair amount but I try and do isolate it shops. Probably I do I'll try and do all my big shops that market basket all the essentials there in the morning to do something quick for a you know cooking dinner that element and a whole fruits but trying to avoid where possible. It kills your toes back. Yeah the pricing is is just not competitor and he. As promised we will have a comprehensive. Coverage on what China is doing with their currency. You might say to yourself what do I care about trying to tell you why if you know anybody it's in the manufacturing business. They're gonna take a hit you we are going to lose American jobs as a result of China's activity overnight. We will be joined by Heather long Heather long is the stock market and economy editor at CNN money she joins us next. Current arms. Oh on. A look financial exchange radio network. Mortgage rates are still at an all time low and it makes sense to take advantage of these rates -- -- refinancing or buying a new moment leader bank is a local bank that is one of the largest mortgage lenders in New England with very competitive rates ask their experienced staff about mortgage financing options and get a very competitive -- term fixed rate for your home whether refinancing or buying a new home work with leader bank -- 776917900. 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Securities topic is pretty the American member in SIPC advisory services up with the securities America advisors think Gary Armstrong representative arms and advisory group in the securities America companies are not affiliated please consult with your qualified tax expert for any activity concern. Air air strike here and I'm joined today by estate planning attorney Todd lots. With your legal exchange quick tip of the day we're talking about the different ways to own rules state what I wanna talk about strictly rental properties commercial properties it's that. For family house they have near Yale it's the three family that you had your holy cross you know the properties that are over near Boston College rental properties sure how does one only those and still protect themselves the biggest problem with rental property is the risks of loss of the slip and fall the party's someone got her you know -- if you own your own name folks then they're gonna sue use the property owner directly and if they send you directly into Angola after every. Asked you owning your own name your other vacation homes and home ever owned your commercial properties personally own them in an LLC at the key I would set it up and some kind of a limited liability company throw in there and and even if you're liable you're gonna lose is that one property. Yes let's play out the street when it's an it company like that in the lawsuit. Happened and they're gonna sue the company and not you personally are not as otherwise you could lose your your savings account he could lose your home you could lose your retirement accounts this way since they're suing the company they can only get what's inside that company I've got it. And not any of your personal assets source always the way to go make sure you have the property protected and even and make sure you still have an umbrella coverage still very important to have umbrella insurance to provide an offset the creditor protection learn how to own real estate specifically we're talking about rental properties let's say you do on that two family house don't own it in your own personal name at least that's our place called Cushing and Dolan and get their new guide called the risks and rewards of real estate ownership their phone numbers to call for 86684856998668485699. The phone call is free and the guide is very valuable 8668485699. Securities offered through securities America income member finreg SIPC an advisory services offered to securities America advisors and Jerry Armstrong represented at Armstrong advisory group in the securities American companies are unaffiliated. Follow along and endurance through the financial exchange on FaceBook. Gave up FaceBook dot com slash their financial exchange this is the financial exchange radio network. We're talking about trying to endear devaluation of their currency were joined by Heather long she's the stock market. And economy editor at CNN money hi Heather Oreo. Hey good morning they appeared first serve. It is big news in you know it's the headline China devalues their economy. First impulse I think from a lot of our audience would be how does the country do that. Yasir. And there's a lot of mechanics that are going aren't bad basically. That Central Bank in China have her as most people are excited. Yankee to pretty tight rein on the a lot of factors and its economy and China has long that it's it's and exchange rate. In an effort to keep its economy and let like export a lot of guys don't want you. Actually it's good very competitive on the markets and a lot of people have been arguing our alarm time that China is. Basically type thing it's good that it super big discounts and last night they went for me neither Q percent discount. And why did they do or say explain because. A lot I look at it and I say OK that's got to be very difficult. On Chinese citizens of the billion people that live there. They don't benefit from this other event I suppose it is the game might be able to get more work. Yet have a blanket and a current situation anybody who's been following to have wind out of China note they're in a bad spot. We've been writing and talking about how there are stock market has been crunching the numbers that aspect China and melt down has been trending on Twitter all summer and their economy while it's still well I can't drive. Much more in the United States it's been swelling down that the people living inside of things kilowatt hour. The government of China has been taking an extraordinary measures to try to prop that the economy and the stock market. And so quiet but they did but the currency devaluation and is he got a good bet if I'm a regular Chinese person I go to that store to buy something particularly important product god forbid an Apple iPhone. It's going to be more expense than it's gonna feel like that there at the price increase there however much I don't trying to do is. Ultimately say it but what we're doing here is going to be better for you in a couple of months or a couple of years because. This has got to help jumpstart our economy again and hopefully prevent that from being an even worse that's a waste and and Matt and the main driver here at kind of classic economic policy the United States have attempted to do that in the past due to that point. When your current baseball you're hoping they're restart your manufacturing sector restart your export sectors but like you'd stand them but hopefully get them worked out there at least. Right at a what do you think this does for China and the international political scene. Yet it very interesting point because my but the real surprise here that people spots China but scored weighed in do something like that. In the ball so I don't have been arguing look we are a big market player we are outlawed by the United States and great Britain and albeit. Other mega players are current in the lions should be. Designated by but the caught in a reserve currency I don't like the dollar and the Euro and the British pound Japanese yen we should be up there at the big player that's laughable. Yeah outlook that doesn't know about the current time is that everyone thought that they were gonna wait public got that designation probably sometime in the volatile went there. And then they manipulate their currency with a big. But depending on your last night and that actually. You know every it guy doing weird the dialing because. Our economy is struggling. Didn't read them market actually that our currency should be. What they did admit they put out their statement announcing the devaluation and all that stand that go in floorboards. They record to be a lot more transparent and I think that their currency and at a record speak well or market oriented and yeah. And that's the interesting bought and why would anybody believe. Well look I am in a track record albeit it's pretty evident appeared in the bay continued manipulator not. But you know a bit big kind of back everybody thought the basic grain of their current. Do you value an art that they planned by the global world now. Mean let's start of the Federal Reserve this has got to have an impact on Janet Yellen. In on Stanley Fischer in terms of their desire. These Janet's desire. To raise interest rates in September does this push back the rate hike to December. And any sort I'm gonna debate now that sped her Federal Reserve Bank that yes this netbook where paid attention to international factors both Greece in the corner in Europe also but going on China but the reality is. But and other real credibility problem that they don't start racing industry is in or getting in the boy who cried wolf problem they're also had a situation where. They know the economy we beat you stated speed and it's good but not great and it. If they keep these interest rates at zero they have very little powder. The if we do get into a worse situation that they really wanted to start raising your great Lotta people have argued that civic good awhile ago. In order to give them out some leeway about Danny aired here if things don't pick out more. To be able to have been cut third straight in an effort to stimulate down the Broward that they they have they I am bit argued that they need to. Acted September they're gonna lead than maybe major state now what it might change and an airport in the best. Wisely and by people have been OK if they make that first cut a token move in September or maybe a quarter point raise maybe last. You know after about I think an act again in December for instance that this may begin to play into their thinking on. But let's get another marine here and he just brought the global economy is that and whether it's pulling the US economy back Q. While not only that had a unit stand Fisher yesterday talking about we're not hitting our inflation targets rights are Heidi and right it's in it's contrary to what Janet Yellen sing. Brady you've got stand Fisher who's the vice chair suggesting that hey we're we're nowhere near our inflation target yet we're talking about raising interest rates it is just. If it's. Counter intuitive you think of the first mandate on the part of the Federal Reserve. To be to manage inflation would there is no inflation are arguably deeply. Yes certainly because of what's going climate and energy price that is right now being so wild but even if you'd explode that there's not a whole lot of it as simply that it doubled of the 2% target that's for sure. Petr what is this due to our manufacturing sector like the good thing that struck me as I'm thinking to myself. If you're competing with the Chinese manufacturers say your electronics are. You know equipment automobiles. I've got to believe this is gonna cost American jobs. It didn't really interesting point of we've been looking at that the sporting Q I think guy in the market as it usually the stock traders are usually a pretty good thing gauge of what's going on they cut it to be the first marine and I think it's fascinating that if you look at the company. And into US companies like caterpillar they have big manufacture equipment. They're down about 2% right now they have been made mention before that they've been having problems in China are ready with their bail. Another one had a lot of microchips yeah actually do a lot of businesses spared some cup because Micron Technology that they had about 2.5 percent right now. And it's been some impact but I think 2% interleague down but. They're not they're not getting killed this about a seven to 10% drops I think people asserted Spain they were expecting that that the that the price move that was the or when it went in the participating may be a bit bigger at the Q percent. Devaluation but I think people are holding off Spain that that that some cataclysmic event yet. USC is stock getting crushed take a look at the Chinese airlines. Because they buy their air lock their planes from Boeing. But they Biden in US dollars right so they in there they're gonna get killed the those near their stock prices are pound dramatically. Today and that's because yes they we'd blow Boeing Smart enough to loan them the money and say I will loan you the money to buy these planes but it's going to be in US dollars because. We do not trust you. Is that about it I'd go out and yet there we got to run thank you very much appreciate your time. Heather along CNN money I just wonder. If China has any clue what this does to their credibility in the world markets and end from the investing stem what if you or Saudi hedge fund. Why on earth. Would you. Put money into. Now I mean you wouldn't but. They're looking at a very very difficult situation they're stock market is crumbling nabbed an outsider economy. Eight it isn't but it's. Becoming more because you look at their middle class and have been investing unit in record rates rating yet formally you know formerly with me in the outsiders invest in the Chinese stock market today. It's a lot of middle class people and way and your middle class suddenly loses 30% of its net worth. You need to take pretty dramatic steps to make up for the Libyan revolution in China who knows. They would we come back repeat taking a look at drug prices there's a bill in Massachusetts and many other states. To limit the price of prescription drugs and talk about that's. In a letter that I got from my friend Janie in just supplements. 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Out of right date for everybody our our turn here and I'm joined today by estate planning attorney Todd let's keep from the law firm of Cushing and dole and with your legal exchange quick tip of the day. Todd we're talking about the different ways that you can own real estate one of the things that comes up as an I've seen this before people only their real state in what's called the nominee realty trust. Obvious question is. Is that trust going to protect the home from real estate. And just as importantly will avoid probate when you die with your home in a nominee realty trust. Well it's gonna protect a home from a nursing home most likely actually I can tell you it won't talk case in most times you go to your real estate lawyer residential real estate lawyer and an unfortunately put people in the slide do you think. Don't know and it's not their fault they're just not in that business and sell I think that they should always make sure you go to when estate planning attorney to get your trust work done OK and so in this case. One is not gonna protect it from the nursing home. And true it may not even avoid probate folks if you have a nominee realty trust. Go look at the schedule of beneficiaries and I'll bet you'll find that it myself your name yet but they're gonna find you know mom and dad on their husband wife I see that answer so what did they accomplish try to needlessly and their own way to accomplish nothing that's exactly right it went right. Through the nominee realty trust right to them and and it's not even avoiding probate. And it's scary enough folks if you happen to pull that realty trust up and see the kid's name. As the beneficiaries. Then you gave it to them without even knowing it and you don't want that to happen make sure you figure out the right weight on your real estate. Learn the best way to old and protect your home your vacation property and your rental real estate. Call for Cushing and old brand new guy it's called the risks and rewards of real estate ownership. 8668485699. That's 8668485699. The guide is free and so is the phone call toll free. 8668485699. Advanced estate planning has many benefits. Including avoiding probate passing you're assets along to your bloodline protection from the nursing home and my favorite possibly eliminating the estate tax type folks this is very Armstrong from the financial exchange each week pod but a partner with the law firm Cushing handle and educate our listeners like telling them how to protect your assets from the high cost of nursing homes estate planning has many benefits including helping you to not impoverish your spouse if you go into a nursing home Cushing and Dolan has put together a brand new guy at top ten reasons to do estate planning call your copy now 8668485699. Cushing and Dolan can help you protect your assets that number again is 8668485699. Security operatives pretty America -- member and IP the an advisory services apathy securities America advisors and Gary Armstrong representative Armstrong advisory group Cushing and only in the securities America companies are unaffiliated hi this is very Armstrong from the financial exchange recently I've been hearing many reasons why we should consider buying gold geopolitical uncertainties stock market corrections you name I don't disagree with the idea of buying gold but I have always been suspect of the ad that I see on late night television for even the ads frankly that I hear on the radio I like to buy gold from -- local institution that I trust I own gold and I buy my gold coins from Peter bank I walked right into any leader bank branch and I can buy American Eagle gold points leader bank is a local bank with. Branches in East Arlington Arlington center Arlington Heights at Belmont Burlington and Central Square Cambridge bay locally and buy your gold coins locally it just makes sense give leader bank a call and learn more about their gold coin. Programs 8776917. B 900 or visit leader bank dot com leader bank a step ahead not a deposit not FDIC insured not insured by the federal government agency not guaranteed by the bank may go down in value. It's okay signs of your portfolio that matters tell you yeah. That the information you need to know right here on the financial exchange in the financial existing radio network. Time for trivia here on the financial exchange the date was October 20. Of 1995. And beat Boston University hockey player suffered an injury after just eleven seconds into his first ever. College Hockey game would as the name of that young man. If you know the answer you can Texas it 68680. We the we're looking for the name of the Butte terrier hockey player. Who got injured on October 20 of 1995. During his first ever collegiate hockey game tech's number 68680. A lot of talk about the story Michael as a relates to aid bill. That is. In Massachusetts in the legislature but it's also circulating throughout the country. And that is a bill that would limit the prices. Of prescription drugs. Yeah I read this this article and pretty torn on. I can only imagine being in the situation where you would need one of these drugs that cost 260000. Dollars a year and sitting there looking at that they'll know what to do with it well I'll tell you what I'll share story that's even. More. Down to earth if you will I've got a friend Jane and Jane I get hundreds of emails everyday. But I get very few handwritten letters look at this guys this is a hand written letter was nice penmanship clearance and his us senate side handwritten letter like that and while two pages by the way. But Jane is my friend if she listens to the show. And she's all takes a prescription drug. And her insurance company won't allow her to get the brand name that she wants. And so now she's at the point where she's looking for to me for advice as to whether or not she should by the drug. From Israel or whether she should buy the drugs from Canada and there are risks associated with that because you don't know where the drug comes from. Turn you know even you if you walk into a CVS. Pharmacy and you buy a your prescription drugs you know darn well that they went through the FDA process that there have been many instances. In Canada and other parts of the world were cheap drugs flow in but they're not of the same caliber and that was Jane's question is it safe. To buy your drugs from either Canada or is it safe to drive by your prescription drugs for mr. thousands of people do. Thousands of people do they do it successfully. I don't know that I would do and and and I don't know if it was my mom and she'd asked me I'd say you know what. Try to scratch up the extra money in and and paid by the drugs. Through Euro care if you're your own drugstore. Yeah I mean incredibly difficult situation to be. An insurance companies are taking a look at this and sing. Or they just can't afford. Drugs that are costing several hundreds of thousands of dollars per treatment or thousands of dollars for treatment in their minister Jack up premiums. They can sit there they're gonna Jack up premiums and their argument is these drugs are too expensive. But then when you look at Michael in and you say let's use the the way with the drug. And he did have the treatment intravenous drug users get hepatitis C right. And now that's of that's a controversial because it's I think 90000 dollars to take that. Drug to to get to get cured operate at your disease. And you look at that and and people say you should give it to them because they're junkies and whose self induced. The morality rate. But if you don't fix it for 90000 dollars there's a very weigh in later. The liver transplant costs are half a million Berkshire so that's that's where. The state may be shortsighted. In their view of this they're getting a lot of heat legislators are getting a lot of heat and they're getting letters from like our listener Jane Hussein drug prices are too high. I can't get my prescription filled locally I and a forward. My prescription based on my income. Yeah but then conversely the drug companies and OK if you do that. Right and they'd they don't get to take the premium drugs that they need it's gonna cost you more and long it's a really tough issue. It is and you know there's a lot of public funds being on going into the insurance right now obviously insurance markets or. Largely publicly funded by taxpayers like unite so I'm not necessarily opposed to us being able to seat. What's going into the concentration these drugs and that's part of the Massachusetts bill is they want transparency from the drug companies and this is how much reporting into this the profit organic from these drugs and this is the construction I don't doubt that it cost a lot from each piece all the stuff but. When you're the only. Player in the game and Andrea charge 260000. Dollars for treatment that was I think. I've Vertex new drug. Boston based company turned to and a 151000 dollars for the treatment cystic fibrosis that you're the only want you're the only player in the game you've got a patent on the drug that you manufactured in your church turned 59 grand different. Someone's gonna pay. Well in the end what really galls American taxpayers is if they went to Brazil they can get the drug for fractions ports. That's that is the root of the problem that that's what bothers people they say hey this is unfair we are being charged and because what happens is the drug companies say well Americans have lots of money people of Massachusetts have lots of money they can afford to pay the 259000. Dollars but not everybody can afford it. Not everybody can can afford that price and hence the problem and and and where the the disruption and our. Question for you as a relates to electricity. Do you think your electricity is gonna cost you more or less per kilowatt hour five year from now or ten years from now. I think it's gonna cost a lot more why. You see we we have old nuclear power plants throughout New England that are gonna come off line like that one in Plymouth for instance that's an old plant probably not in stale lines when he Connecticut dean now we in Waterford Connecticut. I don't think that stays on line very much longer. The result is new plants are going to be built you're gonna have wind farms being built in the cost of your electricity in my opinion. Is going to increase over the next five or ten years. I think that you should look into the installation of solar panels as a matter of fact I feel so strongly about this I've done it. For myself I put solar panels on to my commercial properties. And it's pay it will pay off for me in a very short period of time. What I'm suggesting is you call Boston solar and yes that hey can you take a look on Google Earth I don't want it coming up to my house. But can you look at my house or my business on Google earth and just tell me whether or not I could put solar panels on my property. They will do that over the phone with you if you call this number 855. 979. 9446. Simply by calling that number you'll find out if your property is eligible whether it would even qualified within not the roof as the integrity. To accept solar panels 8559799446. If you learn. That the direction your roof basis. Is appropriate for solar panels they'll come out to your residence or to your business and they'll give you a price cost estimate they'll tell you this is what it's gonna cost you. This these are the tax credits that you're entitled to based on your residence in New Hampshire Connecticut where every capital. And this is what the net net cost is going to be TU the homeowner or the business owner after all these tax credit. It's have an enlightening process to go through I would encourage you to call toll free 855. 9799446. At Boston solar an 855. 979. 9446. You know. Let's talk about iphones Tucker you're rated buy new iPhone yeah I'm ready to throw this one out the window news if you're you're only waiting. We told me yesterday you think about the iPhone six plus yeah I'm coming around on it. Nothing looks quarters so patriot lastly remember whatever the standard one as for the sixteen gig or something more litter box many yeah out with a two year contract with Verizon so Seattle teams change. And very quickly it's Verizon is coming to the forefront of it and they're saying. Hey you know what. The phone doesn't really cost 200 dollar phone costs 649. Dollars and 750 dollars current and will finance it for that's what they've been doing for the last. 120 inflated subsidized for them up front and I think effective is that the same despite its similar but I don't think they're charging. It's going to be much more transparent I think they still will finance the phones for you. Lives. Now they start breaking out there minister turn him much less the date. And you can you know go and there's transparency games ago by 600 dollar apple phone 600 dollars games because I think a lot of this line same price range or I don't know I don't know I've been here is talk of parliament as a technique. And you know he buys bulbs for a 15200 dollars and he squares just as it is. I don't know eat it and that I think it would number numbering so up. I've got to believe this is gonna be difficult for the high in full providers in the to come to mind Michael Samsung and yeah I agree again they're definitely some phones out there and Chinese it's manufacturers and making Kerry did that haven't gotten quite hit the US market yet but if they can stand side by side and yeah pay that upfront costs. Its own it then I can see that. Very difficult I think that someone rule and financing these deals just like I think that you deal to go into your eyes and go into an apple your dollars to walk out with. And finance future just fine so keep an effort you know a year two years three years as a car. And big difference is going to be excited about financing an underdog and I just the I I as a as a financial advisor I would not be an advocate I don't know if the age of street behind nine members at all no matter on this close it's going to be huge and financing issue but I don't know that they'll. After mentally hurt the sales do you think who heard it is key partner plays the phones. As much it costs of bearish. Stick with a two year contract or should I finance my phone because I'm gonna get a new one in September I use accurate AT&T or Verizon three year contract usually. Well I think those are gone soccer and as written the op I don't follow really I think are gonna go in in their say you will give via a hundred bucks for year old the new 1659. Dollars and pay the now and then you might say well fine. Is I don't wanna put 650 bucks a much credit card but you see that is I think that hurts apple because you're gonna lock in NC while. I don't have to spend 650. Right and they would have the dot. That's less expensive or you're gonna go on and do your own research unit at CNET and find out with a comparable full minute to buy a hundred dollars instead of 800 from current. I think that is what I think this is. Damaging. To apple because they a lot of their sales have been. Accomplished through smoke and mirrors people you you thought you pay 200 dollar fearful needed. If you look at it and and neither did I by the way none of us right we we all that do it 200 bucks plus fifty bucks a month and thanks and details. The point out trying to make our. Up next we'll be joined by Brendan Matthews from the Motley Fool we will be taking a look at two stocks one of them is an energy stock that's next on the financial state. He worked hard to make your money. This is the show they can teach you how to make your money poor clearly do things the financial exchange with Barry Armstrong on the financial exchange radio network. Are you thinking about transferring your home to your children in order to protected from the nursing home did you know that if you do you put at risk for your children's creditors including future divorces you really wanna write a check your former son or daughter in law just a buyback your own home not only does transferring for your home at risk they can also create huge capital gains tax when they sell it right now the federal capital gains thanks can be as high as 23 point 8% and that's an addition to your state taxes there are better ways to own your real estate that can protected from the nursing home keep it away from your children's creditors avoid probate and not cause unnecessary Texas Todd lets you in the law firm of Cushing in dome and have put together a brand new guide to the risks and rewards of real estate ownership this free guide we'll show you the best way to low Euro real estate call now for your free copy at 8668485699. Don't put your home and read 8668485699. That number again is 8668485699. If you are thinking about retirement in the next few years it's time it makes the big decisions do you know how to change your investments from a group portfolio to one missionary thing come do you know when he optimal time to collect your Social Security did you know Betty you lopped from monthly pension that income can be at risk for the nursing home perhaps a lump sum pension option makes Mars and leaving allege that these are yours injure children there's so much consider before you stop working and we've put together a twenty page you re aiming guide they can help 88810. Port 22 you've worked your whole life saving towards retirement doesn't it make -- to get professional advice to make it last 8668106. Sports YouTube. Securities opera through securities America ink member finreg it's a PC an advisory services offered through securities America advisors and Barry Armstrong represented at arms and advisory group in the street America companies are unaffiliated represented as a securities America do not offer legal or tax advice always he beat by a professional familiar with the laws in your state. You might be ready for retirement but can you afford -- -- -- -- support the lifestyle you want you know how to potentially increase your retirement income Armstrong advisory group as a brand new guide available generating retirement income from your investment portfolio it contains information on how to determine the best time to retire we'll show you how much income your portfolio can provide treatment strategies to help maximize it the guide also includes important information on the most common factors that can affect your income there are many things to consider when you're getting ready to retire Colby Armstrong advisory group right now to request the retirement income guide at 86695799028669579902. Of the color screen and so as the guide 8669579902. Securities offered through securities America member Henry SIPC and advisory services are -- -- securities America advisors and Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Did you know that solar system on your roof is cheaper than continuing to buy power from the utility company Boston solar can show you how to unlock the financial power in your home or business by harnessing the natural power of the sun Austin solar is the number one rated residential solar company in Massachusetts and a leader in providing. Affordable energy solutions to homeowners throughout New England with continuously rising electric rates Boston sort empower you to decrease your utility bills and increase your energy independence call 8559799446. Today to receive a free solar analysis of your home and learn how you can start generating positive cash flow now that's 8559799446. Boston solar and work with you to maximize solar incentive income in all federal and state tax credits Boston solar Smart sustainable and saving you money call Boston sore today for your free solar analysis 8559799446. That number again eight by 59799446. Even lower from early on Twitter follow at Torrey Jeanne Armstrong. This is the financial exchange radio network and. Welcome back we're joined by Brendan Matthews from the Motley Fool would take a look at two stocks one I believe is a furniture online retailer weight fair. Are you doing their Brendan. Great so what weight fair trading at thirty dollars a share to have that right there and online furniture retailer. Yes they are that companies that. Base right there in Boston in the back you and we'll figure that it's an online order the company that they have a pretty model that they. They don't hold in inventory and sell. Essentially what they aren't there web site that they'll take you weren't. The return of a large group of other vendors. And ended deliberate so they have that benefit. I'm having a wide selection with how happy after all the factories all the admin where all the warehouses and now. Went to the they're still losing money Arthur. There are that the company was founded without you by you. Right in Iraq shot he conine that match that and your ankle or now and they loved it. They essentially kind of been building not as common stock for many years I think the unity civilian and they'll this year and and resilient they are making money that they can easily besting an advertising increased profitability of ebitda. We think that they can do probably rebuild it and felt like when he seventeen. And there's bigger things yet the board know they are epileptic an app and an advertising the more they're able to negotiate better shipping terms of the does that company where. If not probable now but hey will be profitable app that you picker. How are they different from Amazon.com. Or Overstock.Com. So. There that worked airmen on the market that we doubt that whole inventory. They're they're a little bit or is there very focused and specific need that it helped avert our own good. They're target audience it sort of middle age apple equipment. And they're looking for furniture now see. Any kind of hope it particularly those Arctic we both got our morning because they're not really ran it. And now that they're not the partnership. That they're really looking into this one leash. Where even Amazon does have a present but haven't done that well. And look at. All right so let's then move on to ExxonMobil. Right Villa later there it is it you know obviously is more active stock with a lot of the principal wrote. I've been uploaded it here. Act I don't know what they had it is that victory you know and I think when that situation right now where we've seen oil prices down we regret barrel. Put it out barrel. And what that their act in the near term I think it really giving you have great opportunities aren't stock at a rate right. It well I would. Yearning for about the last year you. Is gonna pay about me when it has been dividend this year and you're looking at a company that he. Extremely diversified both in terms of their upstream exploration properties but then they also have a a large downstream refining business. The very date. Very low run very clinically stable company. And it's one that I think I don't think there's any gal I'm. That act on goal in 510 years that the world will need more energy than it and it uses now in an act so will be one of the key provider there. Do you think they need prices to recover these are they need you know ninety dollar oil to be really profitable. Now. I think. I think that our oil would be it at that particular act and have their wedding development. A couple of them. Is about when he ballot. Which is an envelope and any company in the world. That it could survive that he will be our oil obviously it will be that as well that we do get back up it. Eighty underdog. Either they're opting pocket. Double quadruple and I think that well that is it and so over time. Yours and back here the thought about it but I did in the back years and it. When we that your congress are not leader out there was it summer. Very good very good Brendan thank you very much for your time and your selections appreciate it. There. Brendan Matthews Motley Fool way fair and ExxonMobil w.'s a symbol for way fair ExxonMobil symbols axle and again always check with your advisor your broker before you buy these stocks or any others that we talked about during the course of our show. The Boston University player who was injured in his first game whose name was Travis Roy who's on October 20 1995. Where he slid headfirst into the boards. After University of North Dakota player Mitch big avoided Travis Roy body check leaving him a quadriplegic and very sad event. Here and I remember. I we had season tickets for BU hockey back then we were net banking business traveling on business remembered. Remember quite well I've read a lot of correct answer one but Dave from Medford is one cut their first so he's a winner. Number of people guests Chiming in on our iPhone conversation 33 ninths as. Just got the new iPhone six plus through Verizon yesterday zeroed down. Zero interest note two year commitment they spread the cost of the fold over two years. And the added each month to your phone bill. But here's the thing is if it's your to your point Tucker is he now he transparent process. And I think a lot of people are gonna look at it and say okay. I can get the iPhone but it's gonna cost me an extra thirty dollars a month or a new this other full. That and knock off. But it only is not gonna cost it thirty. So I think what happens is iphones will continue with there high end marketplace but I think the teenage user. I don't think parents are going to be will and a sport I think parents were the big. The ones that were most vulnerable. Ari thanks for tuning into this hour of the funny. Who exchange we have a FaceBook page where we post a lot of articles we are these financial exchange on FaceBook. Protecting your credit and identity is more important today than ever before bad credit report can cause your car and homeowners insurance rates increase and could stop you from getting a job or promotion the Bureau of Justice Statistics estimates at sixteen point six million people had their identity stolen in 2012. Count myself among those victims my name is very Armstrong and I want you to learn how to protect your identity and prevent credit card fraud we have a free report that provides you with tips on how to avoid identity theft and also provide you with reforms needed to request a free credit report from all three major credit bureaus call this number 8668106422. And will milieu of free report that teaches you how to protect your credit 866810642. To the cost free and so the forms needed to check your credit called now 8668106422. Securities operative securities America incorporated member of an anti PC an advisory services operatives securities America advisors and arms on advisory group in securities America companies are not affiliated. Mortgage rates are still at an all time low and make sense to take advantage of these rates when you're refinancing or buying a new moment leader bank is a local bank that is one of the largest mortgage lenders in New England with a very competitive rates ask they're experienced staff about mortgage financing options and get a very competitive low term fixed rate for your home whether refinancing or buying a new home work with leader bank calling 776917900. Or visit leader bench dot com leader bank claimed over one billion dollars last year to homeowners in the Commonwealth of Massachusetts. They're the true experts in mortgage financing deal with a local bank today and call 8776917900. Or email us and loans at leader bank dot com visit leader banks for all your home buying or refinancing needs 8776917900. That's 8776917908776917900. Or visit -- leader bank dot com. Did you know that unlike other green products a solar system on your roof is actually less expensive than the alternative Boston's older can show you how to unlock the financial power in your home or business by harnessing the natural power of the sun Austin solar is the number one rated residential solar company in Massachusetts and a leader in providing affordable energy solutions to homeowners throughout New England with continuously rising electric rates Boston solar empower you to. 8559799446. Today to receive a free solar analysis of your home and learn. How you can start generating positive cash flow now. That's 8559799446. Boston solar can work with you to maximize solar incentive income at all federal and state tax credit Boston solar Smart sustainable and saving you money call Boston sore today for your free solar analysis 85597. Your bank I'm joined today by vice president leader bank mr. GA truly. And we're here to talk about gold coins and silver coins and really everything that goes into precious metals what kind of gold coins are available through leader bank. Thanks very resell two different types who sell American Eagle and program it to record two different types of gold coins that probably the more popular ones. And we also sell a fair idea of denominations so we shall coins we fell in ounces we can sell gold bars. If you go further we sell in silver coins as well yeah so where we found ways to be attractive to customers or those types of folks coming in. Neither one abide as a gift sure. Or sometimes or investors who come in and they wanna buy the real gold said his alternative to buying you know gold beads yes or right of mutual funds that focus on commodities so I've heard a lot of people say that to me that they prefer to own the fiscal lacks asset that but it is safe deposit boxes and put it in all. They like that better than. Paper which they really don't know what's behind the paper absolutely and we sell them and all of her different branches they can be. But you know at the branch in Belmont Burlington Arlington Cambridge Boston and right each. Acker brings absolutely. Right folks if you like to learn more about buying precious metals through leader bank. Go to any branch of leader banking you can buy gold coins silver coin you can buy gold bars if you're so inclined. They even come with an authenticity. Certificate. Leader bank is the only bank in New England where you can buy gold point 877. 6917900. Is their phone number. The website address is leader bank dot com. They give them a call and learn more about their precious metals program 8776917900. Its leader bank 8776917900. You might be ready for retirement can you afford it when your income support the lifestyle you want you know how to potentially increase your retirement income Armstrong advisory group has a brand new guide available generating retirement income from your investment portfolio it contains information on how to determine the best time to retire we'll show you how much income your portfolio can provide many strategies to help maximize that the guide also includes important information on the most common factors that can affect your income there are many things to consider when you're getting ready to retire called the Armstrong advisory group right now to request the retirement income guide at 8669579902866957990. To the tallest tree and so is a guide 8669579902. Securities offered -- securities America members can rest IPC and advisory services officer securities America advisors and Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Pat Boone here with a word about banks' safety you think your money in the bank is safe. Don't own bank Garnet a generation ago bank account felt secure and they paid interest. This encourage the virtue of thrift savings but today. Bank accounts paid virtually nothing. And if shifted from low risk to high risk for example did you know your money deposited in most US banks could be subject to limited withdrawal. And even confiscated by existing executive orders quoting here that's. And that's just the first of nineteen risks explained in a new 32 page white paper entitled don't bank on it. Still think you're bank deposits are safe. Yet this vital new white paper now call toll free 8051960. To 71 at 8051960. To 71. Fight your favorite news photos and sports updates on your phone would HP mobile from the Associated Press the new HP mobile is now available for free and iTunes AP mobile where the news gets its news. According to a recent survey conducted by Genworth the average cost of nursing home care in Massachusetts is a 134000. Dollars per year how quickly would your assets be depleted if he had to write checks to the tune of 111000 dollars every month while it's certainly ideal to develop your asset protection plan in advance like tends to get in the way if you or a loved one or feast with an unexpected nursing home stay. You haven't done your cleaning before you write that check pick up the phone and get some expert advice. A lot permit cushy new talent has put together a green you guide for 2015. Called cleaning for procrastinators. You cannot put off this call any longer. Call right now to get your free guide and learn how to protect your assets 8668485699. Don't impoverished your spouse or use up your kids' inheritance call a year free procrastinators guide right now at 86684856998668485699. Said. This is the financial exchange we've Barry Armstrong. You're sweet stay home. Upload breaking business news and learn how to manage your money to help you towards a more secure future he'd still play and did you exchange with the euros. Barry Armstrong. Yesterday it was a great day for stocks the Dow gaining more than 240 points today you know we're given it all back some of a gun. In markets have been open for just a little more than an hour and a half and the Dow is down 182. Points. Yes and he's down nineteen points and the NASDAQ down 45 my cohost today. Michael Armstrong. As the 44 dollars a barrel. So it's seemingly settling down gold maintaining a price over 11100 dollars an ounce or a lot of predictions your last few weeks. Suggesting that gold could goes lows 350 dollars announced nowhere near that Euro trading at 110 and interest rates despite the fact. That there is the threat of an interest rate hike in September. The yield on the ten year treasury Michael is only two point 14% to rates still very very well. Yeah only short term rates are really. Being moved by that threat stated which they don't see much on the and treasures that crazy stuff now. President Obama has made it clear that he once risky. Borrowers. To be able to borrow money right he won he's been. Issuing the edicts to Fannie Mae and Freddie Mac's and hey I want you to make loans to people with bad credit and I want homeownership rates to drive go up. But it's not half and share hasn't happened now as a lot of mixed message that there is directives coming to the union the quads I government agencies. Fannie and Freddie Fannie and Freddie bets on the other Saturday. Equation you've got to respect being looked at their activity leading the financial crisis achievement of these people threat. So. The banks are still taking a position that they're being more conservative because they're not gonna connect stand up for those regulators fighters from towns like you know. This line I make this news rounds there. Well that and that's the exact point what happens is yet the feds come in in the AC CE need to loan make more loans and it will pay good. The east it is to make these loans. The bank underwrite the loans and then five years later that person would bank credit well lo and behold they default or maybe it's five months later they default. Then what happens is you get the state regulators coming in saying why did you make that loan is that while the feds told us to what we don't care the feds told you to. When you where we're gonna put Jess there's AstraZeneca us to either way. I'm CS is that there's is an article in the Wall Street journalists and at the the lenders led to higher credit scores of last year than than the year before with ya when they want to expand development to our credit quality. I do wonder what credit scores have been doing the last five years presumably they Pollard and been getting better on average average guess of the last few years now they have beat. What's happened is. The big defaults started to occur in 20082009. For a takes about seven years for that to roll off right so you can see a lot of people become eligible for homeownership again. During the next 36 months there is at the peak of the crisis I think was probably. If you look at it on a national basis is probably ten or eleven rate when when housing prices are bottom. So if that's the case then you go out seven years from then to 2018. That's when you're gonna start to see and not before that. EE if you're looking for housing recovery if you're looking for dramatic increases in your home prices I don't think it really happens for another few years spending Oreo if certainly nationally on average of two pirates and take awhile before people are. Qualified to buy homes again no all right here's a trivia question for your text number is 68680. In what year. Did the Boston Terrier. Become Boston university's official mascot if you know the answer that question you can Texas tech's number 68680 you might wean yourself apprised. In what year did the Boston Terrier become Boston university's official mascot 686 in east Texas tough to Jeffs looked Elena I did them to do little bit of research on. People are buying second homes on crucial I love this again I was talking to a client yesterday. And she said to me. I don't wanna buy a vacation home because I get bored if I'm in any one location for more than three or four days sounds like your parents visit this would be perfect for her and and be perfect for your grandparents absolutely. If the way it works is you can buy a Condo. On a cruise ship I need to brilliance. Yes it's pretty neat now I've I've never been on cruise ships I can't really. Wanted testimony here but yeah I think to be a pretty. Pretty cool idea to have your own space on this cruise ship. Admittedly I gotta match that the costs that are. Astronomical fear association fees and maybe maybe it's not too expensive to own but I would imagine that. Your association fees to pay for her living Nate cruise ship is going to be astronomical. Especially if it's got some pretty neat place their time I want to hear that instead went to Alaska through Antarctic. Did that trip to Africa and that's that's pretty neat just never arrive there and urged going to be ceramic towards. All the time all of these are Condo ships well in just condoms condos on the shall say yes and we have rented out from time to time but yet you're just on this ship with. A bunch of other Condo owners and you determine where you get to vote between us Antonio. 300000 bucks right you pay 300000 dollars that's for full ownership. It's 492. Square feet. Deck area 36 square feet salute total living area. Is 520000. Or 520 feet. Full ownership would cost you 308000. Dollars. And if it's a hunt 11166. Dollars a month you know one thing to keep in mind so that's on the Marquette that this article describing the Marquette which it ships that. Operate domestically that's inspectors on the into continent the content of river ways in the US for one of those big ships it's going to national you can be looking. Have your price or area yet. You see it's a it's it's kind of a neat idea very novel idea you know be pretty pretty nice Ted. Flights have a camera fly to Cape Town meet up with my ownership death not the pack your bags of renal my clothes my Condo on the boat and just. Top right right I I think it's the a brilliant strategy. Shake shack is that he fad or are they for real light I've given you guys my opinion on it. But I've been proven wrong based on their seen Shaq sales and it darn. Popular. And added their sales and improved there getting a little bit more profitable. And there. Cutting outs in the stuff it costs them a lot of minorities to do hand cut Fries and go back the prepackaged. Critical cut Fries August but they're calling it but pared record as stocks trading up and you know this is a stock for people look at and have been it shorting and saying it's way overvalued that. Holding up its I think you have to wait might just be a fad diet. I think it is a I'd I'd and not terribly impressed with there're other product I would I would. Given a choice I would go to McDonald's shaped. He mentioned that I mean I still don't understand what there ultimate differentiators between Neil MacDonald will McDonald's or five guys they like their retirement they maybe it's a it's a better dining experience right you eat it's a little bit nicer but if they re do all the McDonald's. Right if they make them nicer right and if they. Jazz up the manual that I think that McDonald's can compete with these guys handle. Sounds like they are doing that. Yeah they're trying they're trying to discuss such. Negative connotation associated with them that's that's the issue is that this new place this hip new place tried might be a seeming greens may be the same stuff on the menu. And back in mcdonalds has this negative connotation is being. She entered the out like I think that's gonna change they'll I believe so. On how do you get your Internet service Michaels I get it through my dad through my cable provider which as soon as that Comcast and it. Down horizon same thing for us and so you get your wife fine. And your cable cable through the same carrard do you guys mind telling us what your pain. I'm close I'm 99 dollars a month. For both yes OK I'm more M 13140. Men and cash reserve bring it up is we're going to be joined in the next segment. By felony Jim handling he is the CEO of a company called net blazer how do you spell it NET BL EZ ER. They are company. That offers Wi-Fi. Without the wire. The nickel via the don't have a pretty nice they don't have the wire your house he's put this little device in your house. And picks it up off the transmitter he's gonna explain it all to us. Jim Hanley is the CEO of net blazer you're sick of Comcast if you're sick of metric cast if you're sick of paying. I I pay 56 dollars a month for my Wi-Fi. Through metro cast that's a lot. That's a lot of money and I I don't want cable television so I cut the cord Jim Hanley. From net blazer will tell us. How you can cut the court when we return. Financial news business news and what it means you all right here on the financial exchange with the Barry Armstrong on the financial exchange radio network. You might be ready for retirement but can you afford it when your income support the lifestyle you want you know how to potentially increase your retirement income Armstrong advisory group as a brand new guide available generating retirement income from your investment portfolio it contains information on how to determine the best time to retire and we'll show you how much income your portfolio can provide many strategies to help maximize that the guide also includes important information on the most common factors that can affect your income there are many things to consider when you're getting ready to retire Colby Armstrong advisory group right now to request the retirement income guides at 86695799028669579902. Of the color screen and so as the guide 8669579902. Securities offered through securities America members can rest IPC and advisory services are -- -- securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. The decision of whether to accept an early retirement offer is not an easy one to make it may sound like a dream but there are tax and retirement plan implications that must be considered if you're not 59 and a half you may be face with steep penalties withdrawals from your retirement accounts will your employer paid for medical insurance or will you foot the bill until Medicare begins what will be impact of an early retirement be on your pension and Social Security can you afford to retire now and if so how much income what you need and where will it come from Armstrong advisory group has made available free guide called evaluating. An early retirement offer here's a number 866810642. To let us help you make an informed decision call Armstrong advisor group now at 8668106. Or two to. You're keep up with the securities America in member in SIPC advisory services up with the securities America advisors think Gary Armstrong representative arms and advisory group in the securities America companies are not affiliated please consult with your qualified tax expert for any activity concern. Mortgage rates are still at an all time low makes sense to take advantage of these rates whether you're refinancing or buying in the world leader bank is a local bank that is one of the largest mortgage lenders and New England with a very competitive rates as they're experienced staff about mortgage financing options and get a very competitive low term fixed rate for your home whether refinancing or buying a new home work with leader bank calling 776917. B 900 or visit leader bank does come leader bank went over one billion dollars last year to homeowners in the Commonwealth of Massachusetts. -- a true experts and mortgage financing deal with a local bank today and call 8776917900. Or email us Ed loans -- leader bank dot com visit leader thanks for all your home buying a refinancing needs 8776917900. That's 8776917908776917900. Or visit leader bank dot com. Hi I'm London and it worried about your character Loveland living alone like I was and you are reliable senior air information. They call a place for mom. The nation's largest senior living referrals or a screen or make a living and alzheimer's or nursing home. Even important financial information. Obviously brie or every not given meaning that. They tell me a place or which could afford and it was magnet. We're now. We're very confident. And they helped every boo. Them. So you're struggling to find reliable your living information call her mom isn't a free service and you ask them to help. If you're struggling to find reliable senior living information for your mom or dad didn't call or go online to get that we help you need during this turbulent time call now 804677530. 800 or 6775. There. Green onions and you can stunned to learn how they all work together this is the financial exchange on the financial exchange radio network. Sorry I told you about this new technology called net blazer NET EL AZ are. It intrigues me because it's. An affordable way for you to get Wi-Fi in Europe to get it through Comcast or Verizon or AT&T he get through net blazer. We're joined by the CEO and co-founder of net blazers name's Jim Hanley Harry don't Jim. I don't think there are good so did you explain to us how to net the laser works because I don't most of our audience is gonna be unfamiliar. Yeah it is a little confusing. I'm basically what we're doing is. We have a network throughout Boston and some of the surrounding communities where we're combining their availability. Super fast optical optical fiber connections yup we it's we it's. Air fiber radio technology essentially we are built a network throughout the city. Skipping from rooftop to rooftop to you know recover you know couple hundred buildings around the Boston area. And so instead of slowing cables and and wires. Through the streets earth hour long telephone poles. We're able to hop onto the roof of the building and so to commercial building or residential building once we're on the roof of the building. We use all the existing. Wires so to speak in the building currently used what was commerce urged the cat by wire or even an old. Deeply and at least fifteen year old sixteen year old telephone wires were able to use those in deliver. So out of that it's over and over really ancient technology wire. So it it almost sounds to me like he super Wi-Fi system. Right that's blanketing a city is that is that the. It's it's it's yes similar that it's almost like it's it's it's really a bunch of point to point networks. Links essentially advocate of the and so really looks like a mash up but this spider web around the city especially mechanical pencil overbilled and have. Two were sweet links back to other buildings so if you ever have a single radio failures in that sort. It doesn't take down you know your whole service you just roll over to. Another another connection and you can you want and in the sense and the optics the radio and but he never need to do to change edition. So. The oh. It Glenn Berger is so who's your target customers it commercial client or an individual user. Yet we started this. Focused only on that users. It's like five years ago and we gold and make it more. Were clamoring saying that he'd like to have certain outs you know that's an outlet or whatever and so we rolled out about three years that was ruled out service to. Single homes single brownstone in. In single individual residential customers and it kind of like both on dish it but upon the building anybody cable down. The acting in in all the water tables in on the street. And should be to buy windows socially and that sort. And plugin and you have Internet in there in there in their own. In their partner content. Is insecure. Because that's obviously I like how secure is this. Surely that's completely secure and we and we got we got. Wireless security of the links as well as network security. Within our network itself and so and secure it sort of ascendant. Your can't just line that they had encryption per say are wirelessly. You have encryption because we have to you know he would like encrypt your wireless connections and some senate and some simply has greater security. Pretty consistently find that in in the industry to. So how does it compare in cost for consumer on paying 56 dollars a month for my wife bye bye bought it from net blazer. Who would you guys turgeon. Yes so are our standard plan that this 39. And that was based we have there's no fine print. There's no teaser rates signal at least six months. You know promotional source there's no contracts. Didn't see there's not actually done that you probably won't get on the credit cards in an arena and charge for our our basic service and that's really what. Majority of a traditional residential and reduced its first screaming and India immediately do on the Internet basically how fast. That's a seeking that that's percent and fifty million but yet it seems silly typical. You purchased a stream HD video typically takes about. Spotlight megabit per second so work our customers journal can stream to retreat each key industry. Which has. But very robust connection and we have pretty answers about. The console the more that can provide more service somewhat. What are the geographic limitations that since you need to have taller buildings and the surrounding area an artist's work never work in the suburbs there's something that's really. Mr. quoted. So our our air fire Turkey where our wire that we use in the sky is. Is the lightest I technologies so we eagle missed the root out for a couple and so are our network has been growing you know rapidly kind of throughout the city we. Every time we get into customer they're really adding. Extending your network interviewed neighbors mean the spiritually we're just kind of in downtown Boston. Now we're currently seeing through Cambridge to date we've talked about over how to Cambridge. On our latest proposal. Or an opt out you know Kelly the assembly square area and took. Parts of that stirred. When you're gonna go to Providence Worcester or Springfield New Haven and. Yes or are but that Korea and a plan are. To try to do pilot in Providence you know maybe by the year but probably early next year. And then and then BC move throughout the other major cities in New England. And and and they you know what you kind of figured out. You know the expansion model is eventually you'll tackle the big the Big Apple and start working on maybe some of the big. How are not Manhattan percent but you know. The stamps urged that your sister is east of the draw action and into parts of New York City actually. If so what is your what watney would make you better then Verizon. I'm. Well or podcast as they're getting ready who has comrades he. Brightness so everybody hates contests away wit why would I hire you guys instead Comcast. So that performances is just as good or better I mean that latency is so it is not often talked about in the network. And it's really it's it is is it's a it's a measure that describes the stepping it you know the responsiveness. Of Internet connection. The other guys what effort by big numbers and I think we've been yet not a global that the about the second. The latency or network is is really really superb and so that's just part of the architecture. This guy we have but the bottom line it's it's it's no contracts. Really simple world locally owned and operated you call us you get a local person with a plot attacks in talking to you answering questions and and. That's not always have that that's autos are selling picks it up. Which how many users you have now how many customers. So silly that you order under out of subscribers here in the Boston area and but we're growing about 10% a month. It's it's we contacted our. Darker than a lot of it has to do that. The new program rolled out this spring ball our concierge service and we've basically taken some of the technology that we view for years. In part really sign in commercial clients where they they're asking for hundreds. Hundreds of megabit per second he's he's going to you know Google fiber type of speech sure. We're playing that's a large residential buildings and so we're going into. They Condo building that department believes in political arguments and worked actually delivering. 300 megabit per second or 99 months so I assume he's got two months you know no contract no insulation possible. And you're eating today hatred and that it gets everybody and you'll have seen is up to five of the negatives how do you guys do with the weather last winter. Umps are of the belief that the weather has been has not been an issue for you did we built so much redundancy and a network. You know occasionally has some. Somebody evil what on something a populist social and personal data out. To our our our our antennas generally don't incorporate this guy little shall was still early in court volley and other buildings. And so we don't have any problems. Very good very good well thank you very much I sure appreciate your time Jim. Much Jim Hanley co-founder and CEO of net blazer if your stability I mean it's a small start yet. As cool technology need and Korea and you know in the area that that's in true. Love to disconnect from it I think it's a lot of people feel. They that would just love to be and say you know thanks but no thanks this. There's so much resentment towards that bill right is you know if you're service goes down they don't give you credit. They ate there. Thank Mike my service goes down periodically here it's its week. You know they could care less physical competition in hockey and there's no competition and if you ever have to call them. Now. Fate worse than that if it Dow down 221. Point to give you full market recap when we return. We will also be talking a vote Chevron that's up next on our financial expect. It Barry Armstrong and the financial exchange on the financial exchange radio network. Mortgage rates are still at an all time low and make sense to take advantage of these rates when your refinancing or buying in the world leader bank is a local bank that is one of the largest mortgage lenders in New England with a very competitive rates. Ask their experienced staff about mortgage financing options and get a very competitive low term fixed rate for your home whether refinancing or buying a new home work with leader bank calling 776917900. Or visit leader bank dot com leader bank went over one billion dollars last year to homeowners in the commonwealth of message you that they're the true experts in mortgage financing deal with a local bank today and call 8776917900. Or email and loans at leader bank dot com visit leader banks for all your home buying and refinancing needs 8776917900. That's 8776917908776917900. Or visit leader bank. Dot com this is very Armstrong. It by estate planning attorney Todd let's eat from the law firm of Cushing and dole and with your financial exchange quick tip of the day. We're talking about the top misconceptions. Relating to Medicaid your vocal trust in time a lot of our listeners are apprehensive Todd. About transferring highly appreciated assets whether they be stocks or real state to an irrevocable trust because they hear their beneficiaries. Will not receive a step up in cost basis upon their death. True or false. It all again they should not be concerned about that because the way these trusts are drafted they will get a step up and remember. They should be concerned because most of these assets that they're transferring. Our house our vacation all right they had very little on in buying it. And folks that's what you basis there's very little if you pay court. And now it's worth a whole lot more well if you were to sell it they take the value of what you sell it for minus your basis to come up with a gain. Well when you die. If these are owned either in your name alone. Or included in your estate even via one of these trusts and the government gives you the amazing thing called a step up and visa which means you beneficiaries. Get back home that vacation home on the lake as if you bought it at fair market value on the date of death that your parents died and now if you guys say you don't want it and sell it you silent and you have no capital gains tax to pay huge win so don't be afraid of that put the trust to protect it and get the step up in basis. Here's a little bit of advice from your uncle Barry get the facts about protecting your assets from long term care expenses request this brand new guide from Cushing and Dolan the top misconceptions. About Medicaid irrevocable trust 8668485699. Its toll free phone number called now and get your guide 8668485699. 866848569. A state in asset protection planning can be overwhelming where do you start how do you know what type of his right for you hi this is very Armstrong and I'd like to talk to you about the law firm of Cushing handle it and creating plans for folks in New England. For more than thirty years and they can help you to with all the different types of trust available I can understand the confusion. When it comes down to a plan do you need to revoke global truck do you need an irrevocable trust in what a difference you need an expert advice and they put it together free guide that will help you decide the best plan preview this free guide the differences between revoke global. And irrevocable trust is yours the call 8668485699. They can even show you how it's possible to eliminate you or state tax I love that part call Cushing handle right now to get this free guide 8668485699866. 569. Hi this is very Armstrong from financial exchange recently I'd been hearing many reasons why we should consider buying gold geopolitical uncertainty stock market corrections you name it I don't disagree with the idea of buying gold but I have always been suspect of the ads that I see on late night television or even the ads frankly that I hear on the radio I like to buy gold from local institution that I try I owned gold and I'd buy in my gold points from leader bank I walked right into any leader bank branch and I can buy American Eagle gold points leader bank is a local bank. Ranges in East Arlington Arlington center Arlington Heights at Belmont Burlington and Central Square Cambridge say locally and buy your gold coins locally it just makes cents give leader bank a call and learn more about their gold coin. Programs 8776917. B 900 or visit leader bank dot com leader bank a step ahead not a deposit not FDIC insured not insured by the federal government agency not guaranteed by the bank may go down and out. Giving you the trouble of Reading all those technical. Financial publications. And break it down for you. It's the financial exchange on the plane mentioned that you're in radio network yeah. I don't think anybody figured out Michael that the Boston Terrier became be used official mascot and you're 1970. While we'll have the checks if they were got the red answered I don't see herself as tough on those tough question this one's a little bit easier. Nickerson field you guys know we're Nickerson field this that's where that young football team used to play them. When it stood there and they had threat off fine and if you're driving on nine and into Boston you look right okay. Well anyway Nickerson field could be used to be home for a professional sports team. That is no longer associated with the city of Boston. If you know the name of that sports team you'll be the winner 68680. Is our text number. Nickerson field at Boston University used to be home to what it's professional sports team. That is no longer associated with the city of Boston all right let's talk about Chevron Chevron shares giving Spain. And more so then well we are talking about ExxonMobil earlier. Yes or Chevron and you know a year ago we had. Oil prices up and hundreds they were they were booking a bigger profit per barrel than any the other big oil companies and they are expanding their. A lot of new projects out there to pump more on the ground. And while it did really well with it a prices they've done. Just as poorly with that low oil producers' aggressive with capacity. In the must've been assuming that prices were gonna remain. The average. You know obviously it was shortsighted so it they are down 32% for the past year compared with you know ExxonMobil is down 20% for the past years you can see. If fluctuation has been far far more dramatic you know in addition to see you know if reduce your recovery in oil prices will Chevron deal the pick up the pieces here or you know they point out on this story here that. They only reason they're out to book a profit this quarter is that they sold their big gap when they're big. Places out in theaters Australia. And if that's the case if they're need to sell there they're new exploration areas off and urges him remain profitable. And you can see how might be tough to make that back up when oil recovers so. Tough start for Chevron they haven't raised it dividend. There's just I don't think that stroke and afloat now. The their share prices down another 2% today 34 dollars a share. They've been as high as a 129. Dollars this year during the last year. But right now they're bouncing along the bottom of the 84 dollars a share now. If you buy the stock and if somehow they're able to maintain the dividend dividend on the parent things four point 7%. It pretty attractive that's the case for a lot of companies you could BP connects on it got pretty attractive. Do you have a 41 K plan or retirement plan. And a former employer maybe you know I don't know maybe used to work for IBM. And you left IBM and went to work for EMC that you left your 401K plan at IBM what he did that. You're not alone. 50%. Of Americans according to a study that was done by ING 50%. Of Americans adult Americans who have participated in a 41 K plan have left it at their previous employer. And the reason I bring this up is we're giving away free guide. That will help you to decide. What to do with your 401K plan when you change jobs now one of the options might be just to leave it. Act the it at the old the plane or you could just leave your 40 and came at. IBM is that the right thing to do. While maybe not even take the money and run you could leave the funds where they are you can transfer the funds directly to your new employer did you know that. Let's say you left IBM annuity EMC you can take your old 41 K plan. And just move it into the new plan that he NC and there are some advantages by the way to doing that he might wanna look into it anyway. If you would like to get this guy that is called deciding what to do with your 401K plan when you change jobs. You all you have to do is call toll free phone number 866. 8106422. That's 8668106422. Who should call. Anybody who has a retirement plan that is still sitting at their former employer. 866810642. To the phone calls free and so is the guy 866810. 6422. Is your number to dial. Post office lost 586 million dollars and that's pretty good. Yeah great news. Ring the bells they at a loss 586 million dollars in Q2 of this year which in comparison to Q2 of last year. They lost two billion dollars during that same time period so. Huge improvement actually. Still think they should do the post office I do not understand. Why. It costs so little to send a letter across the country. Well BD do we need sixty delivery service make it like would you care it was only four days a week now. I opened the mailbox now grants I've gotten a lot of legitimate mail and weakness he has been roads in the mail that is. Far and few between actually are mailed it in the throat which he certainly give up one day that we can in the league without too much difficulty. I guess I. Wonder what the future of the postal services. As you too I just I don't I'd I don't quite understand why we subsidize. There are so much anymore the logic is if you lift lived in a rural area. Right the dead it would provide you also served as memory units that used to be roll blues and agricultural society. Right and I are Austin Powers I understand that 3040 years ago I don't understand that with the advent of the Internet and the fact that most everyone is connected to engine and other. It should not cost me was cut 49 cents to send a letter to. Wyoming today. You think he ever privatize. To me jobs they too need to me union and the team unions can vote on this and straight voters but I think their recent adjustments and that there privatize it that they might be some adjustments in the future. CBS they're paying 450000. Dollar fine and pain killer case. Well they. Whereupon the rules quite frankly and there are some specific regulations that say you know yes the doctor is responsible for these prescriptions and making sure that everything is. Sat Reggio but the regulations also say that the pharmacies response take a look at those and make sure there are any religion prescriptions beat that the person prescribing the medication has the right to do so. And it looks like in Rhode Island some of the storm is in quite follow the rules they had son. Seven. False prescriptions and prescriptions are written by nurse practitioners for appeal is that. Isn't allowed and licensed to do so. To CBS paid a big fine and I won't see them do that again attention you know afford to grant their mistakes here but it's a big issue because you look around the opium addiction. Issue huge public health crisis here in Massachusetts. Island you know all of the northeast. The Phoenix Cos. seemingly in trouble their share prices down ten point 3% today. Do you losses seem to be 45 dollars a share tenement true. Now harper based retirements. A company gave him insurance company they've been really struggling for numbers years they've restructured it had to be restating their earnings since 2009. Not not a great story here and struggling Hartford company here. All right. Coming up we are going to be joined by priceless art. For mass. Fallen heroes we're going to be talking about the issues and challenges that our veterans face when they come back from military conflict. Ruby talking to them about their financial concerns their unemployment issues resources that are available or perhaps not available to our veterans. Chris we'll start he's the program director at mass fallen heroes he joins us next on the financial exchange. You radio that can enrich your life and help your portfolio. Well it's a financial exchange with the Barry Armstrong on the financial exchange radio network. Are you thinking about transferring your home to your children in order to protected from the nursing home did you know that if you do you put at risk for your children's creditors including future divorces you really wanna write a check your former son or daughter in law just the buyback your own home not only does transferring for your home and read it can also create huge capital gains tax when they sell it right now the federal capital gains thanks can be as high as 23 point 8% and that's an addition to your state taxes there are better ways to own your real estate that can protected from the nursing home keep it away from your children's creditors avoid probate and not cause unnecessary taxes Todd -- you in the law firm of Cushing in Dolan have put together a brand new guide to the risks and rewards of real estate ownership this free guide we'll show you the best way to low -- real estate call now for your free copy an 8668485699. Don't put your home at risk 8668485699. That number again is 8668485699. You've probably heard that if your spouse goes into a nursing home your primary residence is protected but did you know that he's only temporarily saved if something happens to you your house becomes 100%. At risk for the nursing home and it's planning is ideal however if you do nothing else you need to have your basic state planning documents in place this will allow you to say some if not all of your assets last minute if you or your spouse enters a nursing home Cushing and Dolan has put together a brand new guide back to the basics it's a complete guide to a state and asset protection planning call for your free copy now here's the number 8668485699. This guide will teach you. Fundamental basics that you need to know about eight planning 8668. Or 85699. Is a limited time offer so call now 8668. Or 856998668485699. A stake in asset protection planning can be overwhelming where do you start. How do you know what type of trust is right for you high to bear arms and I'd like to talk to you about the law firm of Cushing handle it in creating the planes are folks in New England. For more than thirty years and they can help you to with all the different types of trusts available I can understand the confusion. When it comes down to a state planning do you need to revoke mobile truck do you need an irrevocable. And what's the difference you need an expert advice and they put it together free guide that will help you decide the best plan we view this pre guide the differences between revoke global. And irrevocable trusts is yours but the gas call 8668. Or 85699. They can even show you how it's possible to eliminate your state taxes I love that part call Cushing handle right now to get this straight guy 8668485699866. Eight or 8569. Mortgage rates are still at an all time low and make sense to take advantage of these rates whether you're refinancing or buying a new home leader bank is a local bank that is one of the largest mortgage lenders and New England with a very competitive rates ask their experience staff about mortgage financing options and get a very competitive low term fixed rate for your home whether refinancing or buying a new home work with leader bank calling 776917900. Or visit leader bank dot com leader bank lent over one billion dollars last year to homeowners in the Commonwealth of Massachusetts. There's a true experts in mortgage financing deal with a local bank today and call 8776917900. Or email Ed loans at leader bank dot com this is a leader thanks for all your home buying and refinancing needs 8776917900. That's 8776917908776917900. Or visit the leader bank. Dot com. Valerie Armstrong knows finance. You about your fine it's good for you you know Barry Armstrong. Leave me here for the financial exchange a look financially Jing who you know work. He answered our last trivia question is the Atlanta Braves here the last professional sports team that. Played it Nickerson field. In the EU and now they used to be the Boston things. When their Nickerson field. And that was where Babe Ruth finished his career environment and we had a Edward from Halifax mass there it's very good. Our guest is priceless art Chris is the program director at Massachusetts fallen heroes he joins us today to tell us about his organization hi Chris are you. Good afternoon gentlemen our. Good good so tell us about Massachusetts fallen heroes what are you guys do what you all about. Whoa you read about it and we intend to build social traveling memorial that its executable that you were on the equals. It'll citizens are killed post nine elevenths to now want and that's quickly transformed into building a permanent more about our country could. Overnight big charge at one big formal country. So that's what we sort of to do our actual area that we mormons. What can happen broker and and Arco this guy actually at one acre park and see court which isn't are scrapping our most people are recognized but you know major transition going on governor that area of the city so. It's gonna you're really really much more real little warning that are at least what oh list. Aren't as our agent carpenter government have known world and out. Into the water creature. On. How to cook veterans do when they come back from overseas have been over in the Middle East for. You know Sony guys have been over there for years. Eaten in I understand that many of them come back and they're facing financial problems. They are made it made it to the interesting thing it is not as much art. Issues are used to actually glad. I'm obviously the sex several 100 different levels and on. The main thing I RC's problems is just pork fiscal management and a lot of legal order orchard members to go to war. In year two out here. Obviously you're adults that there needs I when he first. It you revolved and it daddy word we just don't know how to manage money. That aren't able upper. Is that in our top that you're not really couldn't see. So what you're deployed an art it is irrelevant obviously get more. But you're you're you're living paycheck to Asia among majority not really changed its. On this very easy to credit cards now Sharon you know it's easy to rack up to that all of a sudden forty policies streets. We always have that need help people bolt also are a lot that's an outside in its cattle. What you guys still do that corporate Iranian of the it was like he there's they're really starting to shortened of the stick there are so. Basically what happens is that. There are able to get fired figured out whatever whether at some point is nodding. From that unit which it's really hard and don't even know what's going on amnesty all creditors. They ghetto then maybe they come back Coleman. In our annual education available to these kids on the base. In theory is that the the problem it's not like the military. I'm actively prevent this from happening I sat in those classes in the just not interest each change in approach which earned a dad ejecting a really. But appreciate what you're trying to do there are many many units that are very cruel act which crime itself these. He's young adults to not you know to be careful if money and so the resources they are not like you're getting more. And not a right that they'd I think a lot of the problem doesn't rely on personal on the bill Catholics and these things that are innocent look risks aspect. You don't they end up in the transition knocking considering you know. And when they get an auto loan or mortgage. How did they do in the transition when they come back because they. Typical term would be 45 years when they come back vivid difficulty getting work I would think that a veteran. I I know I would be inclined to hire veteran. I think we're seeing and Tom I think generally going to be if you question is I think majority of such as artwork but it favors you. Prevalent issues are coming through our. Recognition as a recent that is one would peachy gas being so prevalent amongst a lot of returning better and something we're now seeing her. Kind of getting caught up in discrimination case because well what's happening is they're realizing that. They may not want to hire veteran with PT EST might want to that are not being acquitted but people want the bags. Conduct. Regarding psychological staff social. They don't know who they're higher the yes all these great ball he is and how will work ethic dedication. The ability to see attention the key challenging it'll stand by what they also might out. Is some some other issues apple won't really effective work well deeply worried about which are deceased veterans knocking hired. Moreover we're seeing investors and just start in the Portland got it right and that they were that they would appoint electors here and there weren't. You're in the book or altered. So what you're seen as what we're seeing is that some guys who called somebody. Oh yeah because they feel like they're losing out on jars because it's losing the candidate he. You know so I don't think this is you know a. Is actually out of like if they wanted the curse is that truth they wanted to be seen firefighter police officer. It is you know in this interview will receive it in every field yes we've seen that happen in the past what we these are but it is work out as far as. Which of content. We're not but we ask you a little bit on either side you know or. She sectors well so it does. It does poorly all difference not just not relegated to just 11 industry or its partner. The table or a little bit I don't think it is probably at this point but as a sports will be discussion needs. You know people need to be aware that the deficit in Asia. Right. How do people learn more about Massachusetts fallen heroes in your organization. They're best finish we grew our web site which is WWW don't ask on your start working. Party is trying to help of veteran vehicles are on as well so are we doing a lot of great work. No I appreciate everything you guys do and we thank you for your service thank you Chris. Thank you for your current don't that's Chris let's argues the program director and Massachusetts fallen heroes joining us today on the financial exchange. Gasoline prices like I've been complaining about gasoline prices for four weeks. When they finally I I'd done the math and I I think we should be paying about a buck ninety nines for gas based on the principle. Yeah well there their front with saying that the those those prices should come down come the fall you know that's too bad the summer's the best time for energy prices if summer behind our trap that excuse. Yeah that's part of issues especially California you know they've got various super requirements and their summer one little bit more expensive that. Yet at some estimates that say come fall we might be down bullet to boxing in which would be comes the pain would you pay us to a paid 259 in the day. And there. More dent in my. He gets you up 54 a period when it's. And yet it just seems like they're awfully high. Given where oils come down to completely agree there. You know beer is a list I got a list of bonds. This morning and I wanna share the list if you wanna buy. And bond maturing in the year 2031. You can get one that yields 61%. If if if if north promises to Puerto Rican public finance bond. Maturing in the year 2031. A lot of people asked me recently you know what what's gonna happen with Puerto Rican Barnes and I will tell you. With the bond market is telling us is that they're going to default yet it's frustrating what's the with the trail seven cents on the dollar nine times out of the dollar and and when I'm being told that in we have a group that does research for us. And they provide us with this research every morning. And I'm looking at the expected recovery rates because that's really unity bond trades at a hundred dollar for a two week and again for your hundred dollars. And they are all ranging from 35. To 65%. So if you own. Puerto Rican bonds in your portfolio. Call your broker. And call your advisors say look and I got these aren't things in my portfolio what am I likely to get bored. Right when they default because I it's no longer question as to whether or not Puerto Rico is going to default. Now question as to win there too how badly. Right in and how much of a haircut are are you you going to take. The other question that comes up is did we make a mistake by not buying Greek bank stocks. I don't accept the and they are trading up today on the dealers you know finalized. Looks like. Some bank stocks are about 10%. And you look at that deal and all the space they said as we're in the exact same place earlier in eight months ago. And we re wasted eight months. You know screaming and protests and make a big deal out of all this stuff just county exact same place that bad and they did so much damage in that eight month period huge damage the economy to you know reputation reputation of Greece. You know people visiting. Just the people canceled their vacation EP yeah severely damage the economies of Greece and the last eight months and gotten nothing but you have enough. The eight. The very poor negotiating skills definitely. Dow is down more than what we gained yesterday the Dow is now down 230 points I hate to be the bearer of bad news that's just the story. Thanks for tuning into the financial exchange my name is very are strong people like us on FaceBook we are the financial exchange on things. Security suffered through securities America and member finreg SIPC and advisory service offering to securities America advisors and carry on charmer Jennifer Armstrong advisory group in the securities American companies are unaffiliated.