11-13-17 FE

Nov 13, 2017|

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

This is the financial exchange with the very Armstrong and sharks are now. You're exclusive look at business and financial news affecting your day you're sick leave your world. Stay informed and up today about an economic and market trends plus get breaking business news every day. And now the financial exchange with the very Armstrong and chuck Exxon. You know owning shares in GE. 1990s. I would work with clients and have more listeners than. They would tell me while I own shares of GE and Jack Welch is the CEO and if you'll shares in GE were so diversified. That owning that stock is just like owning a mutual funds Barry. That's traced to here hi everybody it's variant shock and port that times have changed do you dial the clock forward seventeen or eighteen years and all the sudden well maybe it is like colonial mutual fund a really bad mutual funds. Yeah and in GE coming out with their restructuring plan today pretty much announcing. That they are going to be getting rid of all that diversification that you just talked about they are going to be streamlining the company. Not just a little bit too pretty significantly and going forward new CEO John Flannery. Is going to be focusing. GE purely on three divisions aviation power and healthcare but okay. I would imagine there so overwrought you've probably seen the commercials where they've got these robotics commercials they were putting out the last couple months now there's going to be some robotics in some of those areas as well. But especially health care exactly but really it's going to be bill was three areas that they focus on so you know they're gonna be some pretty big businesses that they get rid of most notably. Their transportation unit which is one of the biggest makers of diesel locomotives out there as well as their lighting unit which is a huge lighting unit okay so that's gone. You know you talk about what they've been under Houston gonna sell their shares in Baker Hughes Baker Hughes you talk about the parts of the company they've already sold off a lot of the financial aspects of the company have been divested. The appliances have been divested so you look at what's left it's going to be a much smaller much more nimble company hopefully. But there's going to be a lot of pain to get there and I think still a lot of questions about what how well they. And execute its 295000. Employees with they have now I don't I couldn't even speculate. As to where they will be five years from now this is a no idea this is a five year plan and you don't turn something like this in a year two years. This'll take five years but. You could literally see a company it's a fraction of the size in terms of number of employees because that division you mentioned that. Locomotive division of labor intensive and a lot of those employees are over in India and other parts of the world. But going from 295000. Down to how many going from a dividend by gosh did think it was 50%. Yet dividend is being cut by 50% to all the people were buying GE over the last couple months say oh they got a four and a half 5% dividend. Enough it's not there and I in this I think gets at a critical idea that we talk about. Relatively often but it's always a good reminder here. A dividend does not guarantee it and so one of the most important things that you can do win when you are looking at a dividend. Is research whether or not it's sustainable and GE's case if you look at the actual cash will that they were paying out and so forth. It was pretty easy to gather that dividend was not going to be able to be maintained them okay. So doesn't know what. Are they just stocks down dailies is down a few minutes ago about 4% yeah I wonder how many of those sales. Are based on individuals. Selling the sockets and remember. Lot of people own that stock. Track for the dividend. They'd like. B I I have family members that have owned GE for fifty years we are and and they say well you know they that dividend is something like count on for income purposes yuppie you're looking at a stock now where they cut the dividend by 50%. The stock prices down 35% here today your date now it is down 37%. Okay. Andy now over up by the way over the last you know. Five or ten years you look at where geez come from pre financial crisis you know you're down. 50% since that point GE stock is now at the same point there was at back in 1997. I wonder at some point if people dive into it I wonder if you know he eat the that the problem that I think Flannery chances. All he's doing so far. In and you know you have to. Yeah he's he's the surgeon. And he's he's working on a very sick patient. Right now is cutting off the leg to save the patient saying look you've got you've got to diseased leg and won't work cutting it off at the knee in order to try to save the patient. And that's a process it's gonna take as you say it's gonna take a couple years just to get that taking care of so let's simultaneously. These wants to be successful he has to grow other divisions are profit. In one of the key challenges and this is going to be interesting because. One of the biggest challenge the GE probably has competition for new appointees will be okay trying to get the kind of employees that you wanted. They moved to Boston what about a year and a half to go out in that ballpark. And so that should help on one level as far as saying OK at least were any location were wreaking competitively recruit now from Harvard from MIT from BU from BC right but if I'm thinking if Sam taking a graduating from MIT on top in my class and I have an offer from GE 200 grand a year. Where I've been offered Amazon for 200 grand a year plus stock options write it in and that's the thing is if you're looking at having to compete with Amazon on a compensation base and also wanted to already is still or are so look what what are you doing going forward. You're gonna have to pay up a little bit more so I would be surprised compensation costs you know on a per employee basis have to increase in the short term. In order to incentivize people to get over it we have to remember this guy I was hired on August 1. You know he Lasme fixed yet yeah it'd be you have to give me as an investor. I think you have to give the guys some time that's easy for me to say because I don't on the stock. Yet 44 to thirty months I think is kind of a good barometer for at least showing progress now. The lender you eat panel wonder about when it hits bottom and and I don't have an answer. ESPN also announcing that they're laying off more than 100 staffers after Thanksgiving I don't know if they're announcing this we learned. Yes Sports Illustrated reported this first answer ESPN is going to be letting a hundred staffers go. It is unclear as to whether or not this is going to be any on air talent that is being let go here they had a big round of on it of on air talent. Firing back Ian. In the spring but it remains to be seen whether or not this is going to have any on air personalities being affected here but. Certainly. As we saw from Disney's earnings last quarter last week rather for the last quarter. Still emergence subscribers this what you're talking to Disney's losing about four to 500000. Subscribers a month now. From ESPN's accelerating it is it is Eller and the problem is once people wore in the they can live with out it. But they don't necessarily go back it's not something where they say GM really missed DSP and for the last three months. Late it's late you know even the people that have it. Can't remember the last time that watched. No it don't tell my watch it is when I'm at the gym it's all. You know the groups that probably watch it most okay our college sports fans because they of the big contracts for the regular season game for college and a halt in college basketball. As far as the NBA they have some games but TNT and TBS had an awful lot you know there's there's a whole bunch of other channels happen. They don't have the NHL but Casey not in any fans that way the NFL they've got one game week. Actually I have the NFL interestingly enough in South America when I was in Ecuador recently. The had. Be it Dinara NFL games went to watch the patriots game one night and it was on ESP yen but there's a whole ESPN. South America. And and they had they had a game but yeah I I hear how much money to make in South America football. Well actually a lot of people watching surprised about price of popular NFL football is itself. I'll just I'm curious how bad this is going to get ESPN it they have lost in the last five years now about thirteen million subscribers via. I I don't know where the bottom is where I'd I don't now it even their website people are are going no more now to your bar stools sports. I I use Yahoo! Sports because it's free you know I can get all the scores quickly on matter go to the NFL. Dot our web app the DES PN I remember last tablet the Caspian were you very amateur I can't remember it might have been just after you were away. When ESPN had the one show bar stool sports a segment vans are canceled it you have arsenal fan talk and so that dated one episode and it was actually was pretty good I don't know I edited it out and have the chance here but are pretty good and then the whole thing just blew up in their face because of comments that late people at arsenal made about ESP and preview it just. And they can arsenals acting stealing. Now web traffic from he has taught us Faneuil barks no doubt about is cutting edge it's young it's trendy. ESP you don't bog people bodies pianist. And an ad campaign he's. I used to literally watch the same sports center. Three to 4 times in the morning because it it was a great product now granted it was the only place you can get highlights and Santana had to but today. It's just about product. Anyway there there are layoffs coming. In Bristol Connecticut is that's where there had court. I don't know where we are tax reform we have Adam Shapiro joining us later in the show to give us an update on tax reform but our question today is. Should state and local taxes. Be deductible on your federal return you know the whole tax reform act does. On the table congress is working on the Senate's working on it they both have their versions neither one of which frankly very good in my opinion but. What are you stand in terms of the deductibility. Of your state and local taxes on your federal return. That's a big issue. Up for debate. And we've got to know where you weigh in on this she'd go to our website financial exchange showed dot com if you care to participate. Yeah do you feel about the elimination of state and local tax deductions that so that's our poll question. Cancer. In the next segment we will be joined by Lydia Ramsey from business insider. The CDC recently mapped out where people with cancer live in the United States some of the results might surprise you. What geographical areas in the United States have a greater tendency towards cancer than others. That's our next topic from the financial exchange radio network. Even without health care or tax reform all three major indices remain near record highs get the latest info on the sectors that are winning and those that are right here we Berrian jog on the financial exchange radio network. There are many benefits to early estate planning among them keeping your assets out of probate and protecting them from the nursing home but did you know but you also might be able to eliminate your estate taxes every week on the legal exchange time -- educates his listeners by telling them how to protect their assets let's -- is an expert in elder -- taxation and -- partner with Cushing and Dolan is a brand new guy doubles show you how to increase your beneficiaries inheritance by decreasing your state taxes and in some cases eliminate those taxes let's -- leads an experienced team at -- in -- which has been helping families like yours with their state claiming for more than thirty years call right now to get -- -- new guide called passive protection strategies at 8668485699. That's 8668485699. -- -- -- team at -- in -- help your family the way they've helped so many others -- 668485699. Or you can download the guide right now from our website legal exchange showed dot com that's a legal exchange showed John -- Hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage yield this is an online product only and there is no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice and don't delay logon to leader bank doc can't get all the information about this great offer and sign up today before the rates change yet. Free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now its leader bank dot com leader bank stepping. Add member FDIC a minimum Alex fees may reduce earnings rate subject to change without notice and may change after an account is opened. Hi everybody it's Barry Armstrong and Jake two million were talking about a program called Z rent now this is specifically. Designed. For those of you who wore landlords and you used to collector checks. With paper checks are gosh maybe still do will Z rent allows you'd collect checks electronically. JO hoping he could spend a little bit of time explaining how he rat works and why it's a big advantage for landlords. Absolutely buried so we we develops you ran you out of me the whole right now because right now. You know with the landlord when you're fighting range. Low unpredictable. Missing on below the right line mostly waiting you my neck and all the rent until the tenth or fifteenth of the month furthermore if your landlord on vacation you're renting a box you know what he does is it really pitched they'll. It makes the ranked electronic payments and allows for roomy cheering for multiple roommates and apartments that's great if you're renting out to college student absolutely. It's predictable it comes at the same time every month and it's all on me it. So the landlords who have been using this is in huge time savings and ointment or are you still giving the first six months free for landlords the first six months or three and then in addition to that. If you bank it one of the participating banks he ran is always. Those participating banks earned leader paintings don't. See up at that any bank could sign up right now to keep you at a bank in Vermont to Connecticut. They could sign up and become part zebra yup you your if you have a community bank that wants to be a member have them call us and haven't sign up and the Serbs let me refer. All right if you wanna learn more about easy rent. Go to Z rent dot net him a call 18776917900. If you're bank doesn't operate they can sign up or is he wrecked. Go to zero rent dot net or call them told free. 8776917900. Security suffered through securities America any member finreg SIPC. Advisory services arbiters securities America advisors think Gary Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated with the financial exchanges all over New England go to financial exchange showed dot com and search for the station closest to you this is the financial exchange radio network. Cancer. Accounts for one in four deaths this according to the CDC. We're joined now by Libya Ramsey from business insider talk about the topic of cancer in geographic hi Lydia welcome to the show. We're glad to so great now one in four deaths are attributable to cancer and that's actually been declining. Over the last few decades as an. I act and over the past the players. But technically speaking a lot of hair. Based. Therapies that are Bennett and I. He's getting him on them. Not to click partner at eight in the. Right now because liver pancreatic and endometrial. Cancer have not changed at all the rates of those cancers remain stubbornly high. But talk to us about geographic 'cause I looked at the map. And I should probably post this on our whips later FaceBook page. But it looks like the rates of new cancer cases in the United States are inordinately high appear in the northeast particularly. New Hampshire. Connecticut. Mean Rhode Island Massachusetts Vermont not so much but yeah I mean the New England states seem to have a lot of cancer reports. Chart and why haven't been he's looking hat as a couple copper and I would mean about these areas. Quirky and it gets kind of each area code in panic. I get it. And they'd be high population under that area it and in my ire. For the benefit earth Ian and I suspect it better player. Miki prevention effort needs to increase our army be on many more. Art and and placed it good and bad days and in this way they can look at that and Andy and and in waiting re not we actually every day that same or different campaign. Lydia is there any correlation. Between. Refineries. Like oil refineries gas refineries. And cancer 'cause I'm looking at some of the states like Louisiana. Mississippi. Kentucky and West Virginia I think of this coal mining states then you look at New Jersey very high eight. Rates being reported and you compare it I mean it's it's quite a bit higher than places like California Arizona and Utah. Sure I. About the apartment and how it yet there out there a lot about now. By eight it certainly are meant a great big factor whether or not we can't. 88 or say that he ticket things like looking link it here here. Like an editing on cancer. I don't believe it's possible that there is apparently means. I'm and it's living there or. Or other factors expecting a big entity can answer it I am. Are there and that and it basically he etiquette that is. That correlation. And mr. by act it certainly the topic of interest and Brittany if but great here. What about the rates of cancer deaths in the United States because. You won was it the first chart that I looked that was the number of reported cases in the northeast is a mansion was inordinately high. But when you look at people actually die from it. It seems like it's the middle of the country linked your Missouri Arkansas Louisiana Tennessee Kentucky. That's for your deaths occur so why do you have more people dying in the center of the country. From cancer than you do in the northeast when the rates of reported cancer is because we have more insurance up in the northeast. Well yeah I can be taking under the bed at a map up just yet. Geographically it acts as he can look at every nation and and try to pet currently documents and content you're going on their immediate immediate that had marked a Nike and make could be diet. There's more academic medical I'd been able. Aware where other. Medium our little area at night are bad and pack it back at about that but it cancer. And and and as he well but yet it's not a tactic packed it makes it it I thought it can get it and that look at it yet and into Monday and it blew out the game that the that last and interpret the that might not I. Just bring an action. Lydia thank you very much for your time we appreciate it that's Lydia Randy. From business insider and you know if you look I I'm looking at state rankings jock of all types of cancer I'll walk you through. The first several Kentucky Mississippi. West Virginia Arkansas Louisiana Tennessee Oklahoma Alabama in Indiana. You know you think about here your mineral states your mining states you're refining states. If I I wonder if there's an correlation there. There could be a mean another thing that's give very prevalent and a lot of those states is obesity and we know the a lot of cancers are especially anything related to renewed GI and so forth tend to be related to obesity in a lot of cases and so. You know that's something that probably plays a role there. The I wouldn't be surprised companies and as you said kind of those those mining jobs where you know even if you're wearing masks and so yes they're still inhaling things that you shouldn't be. As well was you know you do tend to seal beastie prevalent a lot of those states. I I think that those two factors that probably contribute. The only states that are ranked highly in terms of you know all types of cancer would be mean in Rhode Island in doing those are the only two Ellen all doing dealt. The did that jump list. Evidently Elon Musk has another. Rabbit he's gonna pull out of the hat to. I'm curious to see what this looks like this is on this Thursday so it can be it Thursday at 8 PM eastern time so you know get ready to sit for an your computer at that point I will you on musk is going to be unveiling his electric semi truck now. Which I got sent a kind of interested to see what he's come up with one of the biggest. Issues with potentially looking at electric powered vehicles for semis it's not the power they can generate as you can get electric motors that pretty significant amount of torque. And the torque band is nonexistent you you can have high torque maximum torque at any BO engine power just because. Of how electrical motors work. One of the big problems though is battery okay when he talked about the need. To be able to make these long holes carrying significant loads and also you know with rapid turnaround times. It's a case where the battery is going to I think be the biggest challenge here. I think that being able to produce a high torque torque motor they're not gonna have any problems and that's it from our perspective I don't see issues there. But I do wonder about the battery because they're incredibly heavy to begin with. And these trucks. Even if you say OK well I'm only allowed to drive so many hours per day and a lot of times that you may take that truck somewhere in the maybe someone else in takes that load some more Olson you've taken the same truck and I wondered do you have that ability with an electric vehicle. Well it's a semi. But I wonder if it's meant to be used primarily in urban areas. It is those does batteries don't perform well at high speed you know if you get a make a lot of destruction if you're truck on. Mass Pike route 95 and you're going busy going back and forth between Boston and New York. Eat your docket again raw hive they don't know enough of these matters. Coming up we'll have Wall Street watch what are the market's doing today at the upper they doubt we'll let you know just couple minutes. From the financial exchange radio and. Life goes on FaceBook and followers on Twitter. Show breaking business news is always first right here on the financial exchange radio network. 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B 900 or visit leader bank dot com member FDIC's equal housing lender and MLS number 449250. Subject to credit approval. Leader bank a step ahead there are many benefits to early estate planning among them keeping your assets out of probate and protecting them from the nursing home. But did you know that you also might be able to eliminate your estate taxes every week on the legal exchange time musty educates his listeners by telling them how to protect their assets last year is an expert in elder Lun taxation and a partner with Cushing and Dolan is a brand new guy doubles show you how to increase your beneficiaries inheritance by decreasing your state taxes and in some cases eliminate those taxes let's do leads an experienced team at Cushing and Dolan which has been helping families like yours with their state claiming for more than thirty years call right now to get time to new guide called asset protection strategies at 8668485699. That's 8668485699. Let time the team at Cushing in Dolan help your family the way they've helped so many others Khalid 668485699. Or you can download the guide right now from our website legal exchange showed dot com. That's legal exchange showed John King. 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Or email -- BO at leader bank dot com for more information member FDIC equal housing lender. Time now for mostly watch a look at the market's performance so far today thanks to Darian jug right here on the financial exchange radio network. Time for Wall Street what you've got Mike Armstrong here to look at a couple big name's Mike let's talk first bad GE we've talked a little about them. Fields in detail on there are restructuring plan. Yes so you know getting into figure out who had been expecting some news strategies the last few months of Benicio value it's complicated details that we were going so far as obviously they're trying to do and that's the big news. Which is probably the responsible thing for the company to do but in the short term obviously it concerns pastors. Going in on weird they depend on it or where they intend on focusing their businesses they're really didn't focus on their three key areas today which is aviation power to health care. But that doesn't mean maybe backing away from some of their oldest. Groups and industries IE transportation. And the lightning. As well as likely a few other areas they start to back away from the ticket or details. The stock while I was up a little bit in premarket currently trading down by about 75 cents or about three point 6%. Mattel up about 20% today Hasbro up about 7% as well is there any odd relationship between those two come. Yet well. Rumor is that Hasbro. Has that offered to buy it now. Mattel has been down. And but he count 47%. Year to do it well as Hasbro has that done fairly well up 18%. Like you mentioned obviously yeah which held being considered being predict over the stock is up that 90% surprisingly Hasbro is also up about 8% on the news. Obviously you know two very similar companies that operate six have passed similar segments that. Slightly different businesses and so right now investors are looking at this picnic could be could lead to it pretty well established in good company goes forward. Any news as to whether or not we are going to see GI Joseph Barbie cross over it's I went I would and so. I would essentially in dirt guess regret that. We can all hope so Mike thanks for the time thank you Mike Armstrong with Wall Street watched. By the way we put a poll question out there asking should state and local taxes be deductible on your federal return and we'd live I hope everybody says we live in a very. Expensive. Part of the country those of us who were in New England today. You know you you look at you what you pay for property taxes people in Arizona think we're nuts what we pay for property to the we are little knobs while they and Danny uses that are a lot and sometimes along the UKE tell people like what we pay. For property taxes or income taxes sales taxes. And they're from at all other parts of the country. They think were absolutely out of. Lines well. So this is it's it's really interesting when you look acts the the cost of living up here when it comes to property taxes or sent via -- the property taxes this it's it's really interesting looking and I'm gonna focus on Massachusetts to Massachusetts. Is kind of middle ground for property taxes in the northeast at New Hampshire a lot higher Vermont slower so you you've got to balance there. Okay in Massachusetts. Right now 73 point 2% of homes in Massachusetts. Pay more than 3000 dollars a year in property tax. The national average. Is only 41 point 2% of homes pay more than 3000 dollars a year their car. 170. 32% of homes nationally and pay less than 15100 dollars a year property taxes in Massachusetts. It's just 6%. But imagine your on Long Island. Europe I try not to or in New Jersey or in California yup what your property taxes are and that's where Republicans are struggling with tax reform. Because. Any of those Republican congressman or senators from those states. They are the are not in favor of eliminating the that deduction. Mr. here's something interest in those thing about over the weekend with regards to this the the big push that we often want to receive. From a tax perspective is away from national taxation and towards local because we feel that our local politicians are more easily held accountable their more easily throw the bums out. So here's the question if we want to incentivized. Local taxes and distance and device federal taxes isn't getting rid of this deduction one of the worst things we can do is all of a sudden you're gonna say -- will be open. We need to lower over taxes and all of a sudden federal taxes gotta go way up and money just gets sent to Oklahoma or something like that so. From my perspective I look at this and say look this isn't a deduction. That I think makes sense because we want to incentivized. Local spending and not federal span can. And so. I have a tough time saying hey we don't wanna have your local taxes be deductible all of sudden it's well if that's the case. I'm gonna move out here it is I don't wanna get hit twice. Well that's our poll question should state and local taxes be deductible 55 point 5% of you say yes. They should be deductible. Surprisingly only 44% are saying no maybe it's not a surprise hey I want to mention. Something about them guide that we're giving away. For the month of November 7 signs of a stock market corrections is actually the topic. Of my presentation tomorrow which by the way is filled to capacity and I look forward to meeting all of you but. This seven guides to the stock market correction or something it's it's something you should reap what you act on it or not is entirely up to you. But I have identified. Seven. Indicators if you will. That we could be in for a fairly significant stock market correction might want to take a look at it especially if you own stocks in your investment portfolio. How do you get this guy we just call my office it's 800. 3934001. That's 803934. Zeros or one or if you want it right now if you don't wait for somebody yeah. Mail to Ian if you wanna make a phone call is go to our website Armstrong advisory group. Dot com you can download the guide for free right now the seven signs of a stock market correction Armstrong advisory group dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Tesla is burning through cash at a very rapid rate. Very rapidly there because they've got extreme cost overruns in their gig a factory in Nevada. They're having. Cost overruns in California at their factory. I guess that the question comes how much longer can they continue to burn through this cash means stockholders don't seem to mind the stocks up today. Yeah it at this point stockholders have largely shrugged this off even with the stock being down post 20% over the last few months here. I do think they're getting close to an inflection point where. If if they can't get production moving quickly in all. It forms a self filling prophecy worse we're tassel stock is going to get hit and the reason for that. Is because Tesla needs to raise money in order to continue production OK they can go to the bond market again they raced with two billion through loans. Back in the summer Goldman Sachs did that offering. I mean you can always go back to the bond market the question is how much the FK okay and sell you on must you know bought a ton of those bonds I know just try to you know keep the cost down and so forth. I don't I don't know how much of how much appetite there is for a debt offering with tussle at this point. I also know that Tesla is a company that still is not producing the number of vehicles that they need to be. And look it's a testament to you on mosque as an innovator but also as a promoter than he's been able to kinda keep things moving to this point. Is largely he realizes he needs to keep that stock price as high as possible because. That is the currency that he is going to use in order to raise money and so. If you have to issue shares BCJ. Would rather rather issued 200 million shares at 300 dollars a share or 400 million shares a 150 dollars a share. It's easy in its okay and so. I worry about shareholders being deluded if there. To raise cash one thing I've noticed is Morgan Stanley has reduced their position in the company dramatically. And institutional ownership. Of their stock has declined quit it now when you look at where how much heed the institutional. Institutions owned. Of this so now you've got and this is what tends to happen. The individual investors. Pile into the stock at the end of the rally right and they get pummeled. And who selling in the shares the begin institutional investors like your Morgan Stanley so yup I. I have I don't own it by the way I don't own shares and at and Tesla and I don't have a short position just I am an easy. With the stock as much as I like the product I'm very uneasy with the stuff. It's a company that is not profitable is a massively past blown negative. And you just have to wonder I mean this the company. From a cash flow perspective flake that they just they're just getting black does and you can only do that for so long ago but if you look if you strip out you know that the issuance of new debt and so forth. They're like aliens of dollars in negative cash flow just all the capex they have. Right now but somebody was saying well Barry Amazon did the same thing they lost money that you would Amazon would dues they would make money. I don't know that about every six quarters in his on would demonstrate that they could make a profit you know they did have going to be modest and I'm I'm going back. 510 years now they make profit every court. But you know 510 years ago Amazon would lead money increase. And and then all of a sudden they'd have a quarter and and people would tell you see that can be profitable. Tesla government profit in the thing Amazon's a different business Amazon if they sell you bad pair of socks. You say great I got to get a new pair of socks if Tesla starts making vehicles the start breaking and so forth they have ongoing obligations that are continuing. Whereas if if you buy something for ram is on the brakes too much and then you say. That crappy product and I gotta go get something new. If you buy a bad car and test when you get seats that are popping out indoors and are closing in your view you doors don't unlock the right way all the sadness in the sand. I spent 35000 dollars for this while the EU we have to see if you give them a chance and and it's not to be 35. Closer to the car price they talked Samie ball on the team to get one of those arsenal forties and fifties. And it's person 35 isn't. You dig your units priced at 35. Aloft for car that is all her car. Let's see advertisers. Are cutting ties with Sean Hannity after the war coverage I had I missed all this last week it you. You missed all this going on but up pretty much. With the Roy Moore allegations that are going on down in Alabama and Hannity had Roy Moore on and yes we were more spoke about the issue. On and after that interview a number of advertisers including probably the biggest one being cured green mountain. Came out and said look we're no longer going to be advertising on Hannity show we're still gonna have an advertising relationship with fox does Sean Hannity defended Roy Moore yes. And so afterwards then not after news of the the moving of the ads broken Kennedy came out and urged all of his viewers to go in break. All they're cured machine face which highlighted which they then started doing which I find this in I would never do that Biden is one of the dumbest things ever you I hopeless of dollars per machine then and about a 10100. Miles of dollars 100. So post 200. But the ones that retire him. We. And he wrote I bought it at this point eight passer ever that Arctic after what we've gotten the TV. It's been around since Michael Graham is around. I find it rather amazing that. We're now with the point where people are boycotting products because company won't advertise somewhere. Just. Bucket I don't know if I don't like what. Of all things that we could boycott and only. We could talk about like human rights abuses with like child labor over in Thailand under you know China and I met a Nike products that have. But we don't do because that we don't look at companies won't advertise where we want the two men. Like waits for countries Putin and I just acting like there's so many big issues that are out there and were picking because of advertising budgets. Get ready low hung over from the patriots game while ago after the first half term. I watched the right to the end I get to the first Heidi you know interest in having to. I was at the airport I Molitor went through toes as early watching him appear for them. Anyway when we come back will be talking to Christopher frauds from Morningstar grab a pencil paper why. It's mutual fund Monday in Christopher is going to share with you in mutual fund that he regards finally that's next from financial exchange radio network. Trump's administration hasn't passed any significant legislation yet but tax reform is front and center at the end of the year. Keep it here with Barry and chuck for the latest on the president's agenda and how the markets are reacting and this is the financial exchange radio network. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage yield this is an online product only and there's no minimum balance required so long gone to leader bank dot com and sign up today this rate may change without notice and don't delay log on to leader bank dot com get all the information about this great offer and sign up today before the rates change yet. Free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available on line so logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. Amber FDIC no minimum Alex fees may reduce earnings rates subject to change without notice and may change after an account is opened. Are you financial advisor who lacks formal succession plan you're not alone according to investment news 43% to financial advisors are over the age 55 and many -- no contractual agreement to care for their clients once they retire hi this is very are strong and we might be interested in buying your practice you work hard but now it's time to find a successor the Armstrong advisor is a regional firm and we are looking to grow our business through acquisition we will consider both RI AA and transactional oriented firms with a solid stable of young advisors who put your client's needs first and provide them with -- service and attention to which they've become accustomed if you're interested in talking with us please call me at 803934. Zeros or one that's 803934001. Or visit us online at Armstrong advisory group dot com. Securities are for two securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Hi everybody is very Armstrong and potluck ski from the law firm Cushing and dole and I were talking today. About estate and asset protection strategies. That can help reduce or eliminate your estate taxes. But is it true that a married couple living in new wing and with two million dollars in assets pays eight voluntary. Gift tax. A 100000. Dollars in the government they don't have trusts in place I'd certainly can't be certainly depends on what state and to be it you know I'll like assailant if if you if you have assets and you can't each state has their own exemption. You know like the federal exemption amount is 5490000. Dollars. You can pass that amount. And state tax free to anybody you want. In any state. But a lot of people say oh we don't have that kind of you know but. What you forget about is the states. A state tax system very they have their own system. And each state has their own exemption. Which can range from you know a million dollars to 201000005. Is around here 2.5 million you know and then some states don't have any. State tax the only one in New England doesn't have one news New Hampshire that's correct New Hampshire the only one in the in New England that doesn't have a separate state the state tax. And so the goal is by doing basic estate planning and using trusts you can double whatever that's data exemption amount is thereby hopefully eliminating. Voluntary estate taxes. Up to whatever that exemption amount is double. Request your copy of Todd brand new guide it's called reducing and eliminating the state taxes. You can call and receive guide the poll number 8668485699. Or visit his website it legal exchange showed dot com net. Legal exchange showed dot com or call tool free. 8668485699. The financial exchange with Barry and chuck is alive on FaceBook and YouTube every morning beginning at ten this is the financial exchange radio network. This segment of the financial exchange is brought to you by a leader bank if you're looking to diversify your. Portfolio. Precious metals are Smart investment gold and silver bullion points are now available at all leader bank locations. Call 8776917900. Or log on to leader bank dot com for more information member FDIC. Christopher fronts for morningstar's with us now here at a mutual fund Monday to talk about now his fund picking Christopher thank you for joining us. Chris Merv got the bear and small cap funds can you talk a little bit about what this fund does what makes it unique. Here apparently small cabins in speculative Greenberg and erratically guessing until the papacy he's been managing the funds and Tom Brady was the back but Mexicans and goes until late ninety's. Or the reasons we really like this find is that it would portfolio managers have been hindered me manager of the parent capital. Philippines he actually served as director of research for awhile and now has to get kind of a more formalized in her role. Is he he really needs. Firm's long term load to cover investment approach cell despite trying to find small cap companies that are gonna double its size and poured five years. He rarely trades. The portfolio. They're in average per Politico reliable. Usually below 20% or twenty years her about 80%. It's sensitivity he's looking for as. Sustainable competitive advantage is at stable cash flows and that's something you really keep and that's gonna kind of lead him away from. Don't semiconductors biotechnology more flashy areas of the growth market. And more towards kind of consumer industrial plants. And so you know that then catapult them back in in markets that just point your teen instead fifteenth. But he's really been awarded this year and overeat that your it's records as ethnic. Does this fund as a result of that approach tend to be a little bit more stable than some of the funds in the sector. Yeah I would simply say so intense time back today. Long term approach and mentioned that sometimes means that small cap companies keep guys that he tends to but the company's market cap is between one and two billion. Sometimes to into the mid caps because it is so on the dolphins so. As a result of that he Russell 2500 growth at Dexter is more dismayed at benchmark may be a more appropriate. Measuring stick and wrestle too but I would certainly create a very consistent tennis stable growth approach when you buy this what you really understand the beginning. As for what any expenses on this fund how does that that was enough category. So within that category it's above average but. Which ignores the little uncertain errant putter kind of expensive. But the institutional and our Senator Clinton but here are one pointers 6% there's a retail one point reduce soda when above average. But clippers had no trouble over his tenure kind of overcoming that early and delivering a solid risk adjusted performance return opens. Where do you see this fund feeding into someone's portfolio. I would certainly today. It'd be great option is it looking for a small or even mid cap growth exposure. You know it's certainly not going to be value it is important to our style box it's an excuse that far right which we are more aggressive growth. But give it is low turnover approach which should be someone ethernet taxable account is who's. He hit it just wants to long term good growth exposure. He's really looking for companies that are sustainable today it will be sustainable five to ten years in fact some of the top performers this year. About the fund for over ten years. Or goodwill Christopher thank you very much of the time and we appreciate you coming on with us. Crisper fronds for Morningstar the company here or rather the funded that we are talking about here is the Barents small cap funds in the ticker on that. You wanna look into on your own is BSF. I acts you'll see that in some 41 K plans the as yet an available choice. 11 thing to keep in mind there because it's a lower turn over fund it's also fear in the market for small cap fund in an after tax account. It can make it a little bit more attractive sometimes because it won't necessarily trigger the capital gains that other funds in its class one. Challenge for them is that you can also buy that and ET EU can bite exchange traded fund Gamal cap growth and we're small cap and and engage your exposure that rightly at a fraction of the cost exactly that's what a lot of investors and a billing to it is they say you know. Generally and pay 1%. A look at NE TF at ten point ten person death absolutely. Oil prices trading there are twenty cents a barrel at 569. Before the rest of the market's kind of Evan. Is it that's how I do it did not good not bad it's me. What will be back it's Chuck Berry and Tucker we are going to be talking about trade schools when we return. Are you financial advisor who lacks the formal succession plan you're not alone according to investment news 43%. To financial advisors are over the age of 55 and many have no contractual agreement to care for their clients once they retire hi this is very are strong and we might be interested in buying your practice you worked hard but now it's time to find a successor the Armstrong advisory group is a regional firm and we are looking to grow our business through acquisition we will consider both RI AA is and transactional oriented firms with a solid stable of young advisors who will put your client's needs first and provide them with a service and attention to which they've become accustomed if you're interested in talking with us please call me at 803934001. That's 803934001. Or visit us online at Armstrong. Advisory group dot com securities offered to securities America incorporated members and SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917. To 900 that's 8776917900. Workers at leader bank dot com. Member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by leader bank's local underwriting processing teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member of the NC equal housing lender and Miller is number 449250. Subject to credit approval leader bank a step ahead there are many benefits to early estate planning among them keeping your assets out of probate and protecting them from the nursing home. But did you know but you also might be able to eliminate your estate taxes every week on the legal exchange -- months do you educates his listeners by telling them how to protect their assets let's -- is an expert in elder -- taxation and -- partner with Cushing and Dolan is a brand new guy doubles show you how to increase your beneficiaries inheritance by decreasing your state taxes and in some cases eliminate those taxes let's -- leads an experienced team at Cushing and Dolan which has been helping families like yours with their state planning for more than thirty years call right now did get time to new guide called asset protection strategies at 8668485699. That's 8668485699. Let -- the team at Cushing in -- help your family the way they've helped so many others -- 668485699. 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A step ahead 2017 has been a banner year for stocks but many airports still caution investors to prepare for a correction while some out there may be fearful of a correction I want you be ready for one I this is Mike Armstrong and I've got a brand new guide out this month designed to help you prepare for a market correction to guide identifies seven core factors each of which you should pay attention to in order to protect your assets and maintain a successful investment strategy is guides available right now by calling 803934001. That's 803934001. Take the necessary steps to protect your interest regardless of market performance call my office right now and get your free guide seven signs a stock market correction at 803934001. You work hard to build a strong portfolio let's work to keep it call 803934001. We can download got right now and Armstrong advisory group dot. Tom securities offered to securities America incorporated member finreg SIPC and advisory services are for -- securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated your dream home is within reach with a Jumbo mortgage a loan from leader bank they're Jumbo loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 44950. Subject current approval leader bank a step ahead. Hi this is very Armstrong and I've told you for years about my relationship with leader bank -- been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out -- bank is offering in -- savings account providing free online banking with a one point 15%. Annual percentage -- this is an online product only and there's no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice -- don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new -- savings account that has a one point 15%. Annual percentage -- and no minimum balance and remember this product is only available online so logon to leader -- dot com right now -- leader bank dot com -- -- a step ahead. And if. This is the financial exchange with Barry Armstrong and sharks are. You're exclusive look at business and financial news affecting your day your city your world stay info. And today about economic and market trends plus breaking business news. Days. And now the financial exchange with the query Armstrong and shocks. Well it's not a great day to be a shareholder. In General Electric and darn stocks down another four point 6% almost a buck. Trading under twenty dollars a share hi everybody it's Berrian talked with you here in this is a top story today it's GE slashing their dividend by 50%. It is this is the the first time that the company has been below twenty dollars a share in about five years and edit out place them back at the same level they were at. Back in 1997. So if you've owned GE stock for the last twenty years gotten dividends over that time so it's not to say haven't learned anything. But the stock is right where you bought a twenty years ago. Well no guarantees it's going any higher than any we we don't know where the bottom is a lot of people thought the bottom was 25 I know a number of investors big hedge funds. Said none on the bottom 22 in the plowed into this thing now to nineteen dollars and 52 cents this year. Anyway that's kind of a surprise to me there's a story that I saw on CNBC SS us last night actually. And it says the amount of vocational training available relative to the size of a country's manufacturing sector. May reduce income inequality and improve the workers. In for the fortunes of workers earning below the top 10% of household incomes so basically what they're saying it. Is not at my interpretation of this study is that. If we had more electricians. Plumbers. In a carpenter carpenter HVAC guys we would have less income inequality that they. I ignore all exit income inequality in the United States is a major problem it's also a major problem trying to hire electricians plumbers or carpenters. It is it is and so you know this is it it's interesting to see this study here. Simply because it references. It relates a lot of things that we've been talking about for the last couple years where receive jeetz or to find treatment now it's so difficult. To find people have those skills and this pretty much is coming out and empirical quantifying and saying. Hey America you don't have enough carpenters you don't have enough electricians right now we need to get more people into these businesses. And the other thing that I always point out with regards to. Businesses can't be outsourced. You can't you can't say oh Jian I'm gonna send your job to someone. 5000 miles away and when you can't outsource on the air air India basic physics air conditioning repair. Right you you you can't do that you have to be there now peoples and its labor intensive and it requires multiple skill sets right when your thing about you this just use air conditioning. Even electrical work that needs to be done plumbing work that needs to be done. It's heavy it's Italy involves physical labor right and and those are also the kinds of jobs they may be supplemented. By automation so automation may help make those jobs easier for the people doing them. But it's difficult ought to meet those tasks at the moment as well it's not something you know on an assembly line every house is a little bit different. And sutra in trying to build a robot that can accomplish all those tasks. Is a little bit more complicated than when it's just knew putting an escrow or something that. I think what we're learning. About our educational system is perhaps we overemphasized. The liberal arts education and the apparently the four year college diploma and wheat under emphasized the need for trade schools in four and if her for technical training. And I think you're gonna see is a major skills gap. Over the next twenty years I talked to guys had it in labor unions. In the Tony they've got guys that are leaving the legal profession to become electricians David got to believe me they've got people that. Have four year college degrees from bowed in college they're becoming pipe that are up. And why you make a better living and they just like doing that type of work up more than they like OSHA pushing paper and what do you do. If you cannot find. You were lost retirement benefits or. Maybe or even know if you're entitled to lost retirement benefits and you might sail out in some but he allowed a tie it happens. All the time there are literally across the country. Billions and billions of dollars. That have gone unclaimed in terms of all 41 K plans old pension plans I've I've met a woman child. When she was in her seventies. And she had worked for an airline to member eastern airlines from a big live via the emerged great when I was a kid AA went bust back in the eighties I think. And they were just terrible airline the end and if she had worked for eastern airlines. Firm for a number of years. And she had moved on multiple occasions so eastern airlines ever stopped in 9191. So eastern airlines had or whoever was doing the administration of the pension has lost this woman's contact information or she had supplied them. With the contact information. She did not know how to go back and and find them break it to you find out because they're they're bankrupt there they're they're out of business. Well we helped her at at the time in and there's a number of will walk you through the steps like you can go to the national registry. Of unclaimed retirement benefits that's one place you go the other place you can go is the PBGC. And looked to see if you have unclaimed. Retirement benefits for this poor woman who's in her seventies living just on Social Security. We went back and helped or now we had to go through the PBGC at the time mrs. Ashton B three years ago. Without doubt that she was entitled to a modest pension it was only 350 dollars a month yup they choose entitled to but they had paid tour. For nine years as you don't want some that was built probably 4050000 dollars so this is a woman in a better through church she was living. In in senior housing public use public assistance senior housing yup and living on social security and she worked at or for store. And she then got a check a lump sum check. And she got a supplemental income goes for a 350 dollars a month what she was so darn happy and she could not find. That pension until we we doctor. Death so again those two places to look the national registry of unclaimed retirement benefits. As well as the pension benefit guarantee corporation the PBGC. Depending on the type of retirement plan that you're trying to look for it PP GC was the one she had issues entitled to what's called the defined benefit pension which means. In a check every month. And yet the other one that we mentioned the national registries for those who view. You know what happens to accuse somebody who go to work for job and they might stay there nine months but they got auto enrolled in the 41 K plan. And they leave the job and they've got 15100 bucks Sutton in the forward came up and forgot about right in. And so often you see that where they're like what had won here than you know maybe that company got bought by someone else and so got transferred and all of a sudden they're this in the same. I had a 41 K but I don't know where it is. He's the system you can use in order tracking down in the cup. But these don't look for you know what happens is so you move right in and let's say you you worked for you can you can you could've worked for our company right. And you move three times we don't worry. Right Gary we we just don't know that you might have 15100 or have you been have a thousand in 9700 took care. But it's sitting in your plan and people don't know about it. So anyway the the BP BGC war. National registry of unclaimed retirement benefits loser couple places you can go. To look for money that you think you might be entitled to save yourself work for a company and they went bankrupt that shows there's three years I must have something and he probably do. New enrollments by foreign students at US campuses is on the decline. Yet in this is something this this interest in here when you look at the overall trends previously. Leading up to this year and soon nationwide new student enrollments by foreign students at US colleges and universities. Fell 3.3. Percent from the year before which is the first decline in over a decade and wanna point out this is going into sixteen. They just did this is a sixteen clashing all sixteen yup yes so we we we're we're talking three Donald Trump yet. Overall international student enrollments rose by 3.4 percent of those include ones who are already in the system okay. And so what's interesting here. Is that you know a lot of these international students who were coming over often or sought out by colleges because they were full practice so they didn't need. To be dealing with financial later anything along those lines in this was a way that a lot of colleges look to balance their budget in the post financial crisis or in particular lot of state schools actually were trying to find increasing numbers of international students because not only they fall Payton they're at a state tuition which means even more revenue coming. Yeah okay. So this is something that. We've talked about some of the troubles that some of these mid tier college or having financially and I wouldn't be surprised if you see this neo really start to escalate as a result of this is well. Do you think glee when you went to Dartmouth. Yeah and you played on this soccer team there where they're foreign kids slate from Africa or South America we Middle East and we have soccer team. How did the the added people feel. About these foreign kids taking slots because in hockey that's always a big deal. We don't care one bit. Now they're interested on our team they nor did we have to kitchen and New Zealand national team we have another -- who's playing pro in New York right now another kid playing pro in Sweden like that these games were lost there an investment with a close eye Yi Yi talked to the pair I've talked to the parents of other soccer players yeah who feel differently. They'll say well yeah you don't like kids. Ended up Golan to a division two school in if it hadn't been for those English kids whose New Zealand kids he would have gotten a scholarship maybe it should have been better. Now I did an adept at that is an attitude per and it's not it's it's it's not a soccer though it's like it's it's a hockey is what I know but like I hate it's like think about that that is entitlement by parents over the angels it is the parents but it's not to get the tickets the kids very rarely care advocate look I'm not good enough like I look at it. I quit the soccer team after my freshman year in part because I knew I was good enough to step on the field against these kids I didn't say oh gee you know they shouldn't be aggressive. I'm not good enough. And I understood that. But a lot of the aid you're right a lot of parents hate coming up will be joined by Adam Shapiro from the Fox Business Network. What is going on the tax reform is gonna actually happened. Adam's gonna let us know from the financial exchange radian. Markets continue to fluctuate but we've John you covered get your daily update on what's hot and what's not from Mike Armstrong every morning at 1030 boldly on the financial exchange radio network. Troy seventeen has been a banner year for stocks but many airports still caution investors to prepare for a correction while some out there may be fearful correction I want you to be ready for one I this is Mike Armstrong and I've got a brand new guide out this month designed to help you prepare for a market correction to guide identifies seven core factors each of which you should pay attention to in order to protect your assets and maintain a successful investment strategy is guides available right now by calling 803934001. That's 803934001. Take the necessary steps to protect your interest regardless of market performance call my office right now and get your free guide seven signs a stock market correction at 803934001. You work hard to build a strong portfolio let's work to keep it call 803934001. We can download got right now Armstrong advisory group dot. Tom securities are for the securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. And he spent the last thirty or forty years building your financial planning business. He worked hard and your clients rely on your. But what about when you retire you have a team of dedicated professionals who will care for your clients in the same fashion as you do every Don about a succession plan for your clients our firm the Armstrong advisory group is a regional firm based in Massachusetts and we're looking to build our business through acquisition. We are affiliated with an award winning broker dealer RI AA and we have superior service capabilities we work with clients and all six New England states and have offices throughout the region making it easy and convenient to set up meetings if you're interested please contact us through our website Armstrong advisory group dot com or call 803934001. Our advisors have over 100 years of combined experience in the financial services industry call us today at 803934001. Or visit us online at Armstrong advisory group dot com securities offered to secure America incorporated member and SIPC and advisory service is -- securities America advisors incorporated burials are represented their arms or revise or group in the securities America companies are. -- -- hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out -- bank is offering in -- savings account providing free online banking with a one point 15%. Annual percentage -- this is an online product only and there is no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice and don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates -- get free online banking with leader banks in new east savings account that has a one point 15%. Annual percentage -- and no minimum balance and remember this product is only available on line so logon to leader bank dot com right now -- leader bank dot com -- bank stepping. -- member FDIC no minimum balance fees may reduce earnings -- subject to change without notice and may change after an account is -- there are many benefits to early estate planning among them keeping your assets out of probate and protecting them from the nursing home but did you know but you also might be able to eliminate your estate taxes every week on the legal exchange time -- educates his listeners by telling them how to protect their assets -- -- is an expert -- elder -- taxation and -- partner with -- and -- is a brand new guy -- show you how to increase your beneficiaries inheritance by decreasing your state taxes and in some cases eliminate those taxes rescue leagues and experienced team at -- and -- which has been helping families like -- with their state claiming for more than thirty years call right now to get -- new guide called asset protection strategies at 86684856998668485699. -- -- the team at -- -- -- help your family the way they've helped so many others call 8668485699. Or you can download the -- right now from our website legal exchange showed dot com that's legal exchange showed John -- The financial exchanges live on FaceBook and YouTube watch Berrian chug discuss the issues of the day and see which ones smiles the most. Is it financial exchange radio network. If you're on the go you can still keep up with the financial exchange on the I heart radio app available on your phone or tablet just searched the financial exchange. And you can hear individual segment or fall shows if you can't listen line we've got you covered. On the I heart radio app. We're joined now by Adam Shapiro from the Fox Business Network to get an update on tax reform. Sure open how when and. I gap a bit of an update for you. Three of Fox Business class right which does that sound senator hatch chairman of the Senate Finance Committee. Is gonna propose as part of the market some amendments. Which will change IRAs and 401 case going forward but also this is big for company. Is going to propose. He and deal allowing. Dividend deduction essentially. If Europe publicly traded corporation and you pay your shareholders a dividend able now allow if this amendment takes it's approved and put into the bill that would allow accompanied deduct up to twelve point 5% of total dividend payments appear. While that's used to that future first time ever that believe them but it had just been put they call it around. Corporate integration. Because. In this sense it's double taxation the company pays. Taxes on media income and and they tend to the shareholder who pays taxes dividend income so they want to eliminate that. What was it was the what are they doing on retirement and it's. So with retirement benefits if you're fifty years or older right that you can contribute 6000 dollars additional. On top of the now sent to your 401K pretax. Totaled 24000 dollars you talk to your all if your eight year old. What hatch is proposing is eliminating that catch up so there would no longer be a pretext ketchup for people fifty years and older I instead it would be at 9000 dollar ketchup widget have to pay tax on it they want. When you start making this contribution however it would be a raw so when you retire you get that money tax re assuming that Dietrich on that changed the rules that's actually pretty. I I I institute and do whatever your position is it depends on year year economics as you'd expect and. Yeah I mean for a guy like me I'd look at that as a positive. Well you'll be be that you probably going to be a higher tax bracket now if you're making it ketchup that you would be when you retire and start pulling that money. May be may be you know AM I'm not so sure about that. In any depends on how much wealthy you've accumulated. And you know I hear what you're trying to do is forecast a tax rates are going to be twenty years from lawfully hack who the heck knows right. Right I mean that it aids is there is not a huge. Shake up the people who do for a one case. Because look I think the statistics are 50% of Americans expand access to a 401K. Of that 50%. Less than 50%. Actually fund. The way and a culture of Allah how many people actually fun to catch up. It's a major acting out your 401K you have probably and it think about it K year. Why work in in that capacity talking to people and I can tell you. Some that Max out their forward came take advantage of the catch up provision for your again yeah you're correct in assuming it it's a relatively. Small segment of the overall population taxes what about the the state and local tax. You know that name that doesn't matter and out it doesn't matter in Kansas doesn't matter in Mississippi. Yeah that's well yet it is okay because then I'd I'd expect the people. You can look online I've treated Utah I think the like 30% of the tax filers and Utah itemize their attack. Nine and Carol rednecks in it he driver on trucks and indeed you know they're uneducated and they don't have. It just all the red states the they're just lob the ball together. Kentucky to buy Kentucky has fixed percent income tax. So window where are we got about take that a quick about it that it is that yeah it is it's on them and that's what. State and local tax deduction house version allows you to deduct. Up to 101000 dollars in property tax. Other than that everything else is when it. The senate is saying to heck with that orbit eliminate all. There's no deduction peer I don't expect that no deduction for any tact whatsoever they'd local. Given Brady over the weekend on Fox News said about it. We're gonna have some state local time to be a Pallet and fight to preserve the 101000 dollar property tax deduction. From the. Questions that I have on this is typically one of the the lines of thinking about reducing federal taxes is that our own state or city BO governments. Are more efficient and allocating resources and those resources stay within the states it would make sense to keep that state and local tax deduction. Two incentivized you know states to kind of take business into their own hands. I think it's a good argument you could make if you were a member of the US senate or the congress VP ping is making it similar argument he's representative. Bjork the U argument that are being played out publicly right now and in your argument is valid. The argument that's being played. By the administration and by congress if you worked for the repeal of the state and local tax deduction. Which are saying is that why should Alabama coal or and this. Subsidize state like New York in chief's. I attacks stay. But the other argument and it's this study done by the Rockefeller Institute that it has fifteen states like. Met Tuesday at New York California are subsidizing states like and as an Alabama which have lower. Local taxes because they get a higher amount of federal subsidy. That is that's the high tax day. So you can argue both of these at the end of the day. I called what were some minor over the Tax Foundation they tend to lean a little bit right way but this is what they got that the Adam if you're Democrat you'd think that the wealthy should pay more that you should have no problem eliminating the deduction stable. That pretty much we have a whole bunch of good argument here it's it is is it's fascinating on this issue that you could take any side. And be somewhat right. Well it yet Dan Rostenkowski Democrat from Illinois back in 1986 with the original. That you propose this the grisly act 1980. Dose is not a new concept but the bottom line is that. In order to raise revenue would be taxed at. They're gone after political consult state and local tax deduction now my brother. Quote Barbara it is the beginning. Of my brother is well law he he's comfortable but I eat very well. And it did you have any problems you know you lose the ability to itemize these bed I have no published an you know take my taxes to build roads and help people. This could take my taxes to give a company or someone really well be a tax break yeah apartment take my tech. Now also lives in New York. How does a blue state Republican vote. That's a real tough question. And that's let you know in the senate and a it would arm because how many editors come from I expect complete state. Right but I'm oust what do you think Peter king and my L in Pennsylvania and Tom reed. From New York. You know why are they opposed to the statement would expect especially Peta tank that's are counting. On the island I mean this might be a little bit inside baseball that. It's leaning Democrat. Move that's a first. Now that no look it's it is the big deal a night I don't know about you but I don't think he gets done by Christmas. You do. I do. I do idea I think Batman and we know where you live we're gonna find I thought I thought. Adam thanks reject it doctors say he should limit salt anyway right after the. Thanks for your time and that's Adam Shapiro we're used in match you were quite convince its first quarter. I still stand by first quarter coroner. I Dow is up eighteen points oil's up twenty cents a barrel. Will be back we're going to be talking about lobster Maine lobster men not gonna farewell under this new trade deal that's. The financial exchanges alive on FaceBook so make sure to let your page and watch the guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buyer gold locally it just makes sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader bank. A step ahead -- seventeen has been a banner year for stocks but many airports still caution investors to prepare for a correction while some out there may be fearful correction I want you to be ready for one I this is Mike Armstrong and I've got a brand new guide out this month designed to help you prepare for a market correction to guide identifies seven core factors each of which you should pay attention to in order to protect your assets and maintain a successful investment strategy is guides available right now by calling 803934001. X 803934001. Take necessary steps to protect your interest regardless of market performance call my office right now -- get your free guide seven signs a stock market correction at 803934001. You work hard to build a strong portfolio let's work to keep it -- 803934001. We can download dad right now and Armstrong advisory group dot. Tom securities are for two securities America incorporated members Jenrette SAP C and advisory services are free to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated and he spent the last thirty or forty years building your financial planning business. He worked hard and your clients rely on you. But what about when you retire you have a team of dedicated professionals who will care for your clients in the same fashion as you do every dot about a succession plan for your clients our firm the Armstrong advisory group is a regional firm based in Massachusetts and we are looking to build our business through acquisition. We are affiliated with an award winning broker dealer RI AA and we have superior service capabilities we work with clients in all six New England states and offices throughout the region making it easy and convenient to set up meetings if your interested please contact us through our website Armstrong advisory group dot com or call 803934001. Our advisors have over 100 years of combined experience in the financial services industry call us today at 803934001. Or visit us online at Armstrong advisory group dot com securities offered to securities America incorporated member and SIPC advisory service is offered for securities America advisors incorporated Barry Armstrong represented their arms or advisory group in the securities America companies are. Unaffiliated this is a special announcement for a landlords chasing down only rent payment and making trips to the bank to deposit checks -- hassle out of rent -- with zero -- banks all mine rent collection tool zero automatically deducts tenant's rent and deposited into your account visit WWW dogs he ran dot net to learn more would you rent your payments breach unit received regularly on the same day every month tenants pay nothing in the first six months or three coral landlords visit WWW dogs he rent dot meant to learn more or call 7816 or 18691. Hi everybody it's very Armstrong in part what's key from the law firm Cushing and dole and we're talking today. About that state and asset protection strategies. That can help reduce or eliminate your estate taxes. But is it true that a married couple living in New England with two million dollars in assets pays a voluntary. Gift tax. A 100000. Dollars in the government they don't have trusts in place I'd certainly can't be certainly depends on what state and to be you know I'll like I say only if if if you if you have assets and you can't each state has their own exemption. You know like the federal exemption amount is 5490000. Dollars you can pass that amount. And state tax free to anybody you'll be in any state. But a lot of people say oh we have that kind of you know but. What you forget about is the states. A state tax system they have their own system. And each state has their own exemption. Which can range from you know a million dollars to 201000005. Is around here 2.5 million you know and then some states don't have any. State tax the only one in New England doesn't have one news New Hampshire that's correct New Hampshire is the only one in the in New England that doesn't have a separate state the state tax. And so the goal is by doing basic estate planning and using trusts you can double whatever that's data exemption amount is. Thereby hopefully eliminating. Voluntary estate taxes. Up to whatever that exemption amount is double. Request your copy of pods brand new guide it's called reducing and eliminating the state taxes. You can call and receive the guide the poll number 8668485699. Or visit his website it legal exchange showed dot com net. Legal exchange showed dot com or call tool free. 8668485699. Markets are odd time. But questions remain about whether or correction is coming. We've got you covered every day with what's not and what's not from Mike Armstrong. Mornings at 1030 only on the financial exchange radio network. Maine lobster and woke up to some bad news this morning let me read this to its from today's New York Times actually yesterday's times. A new trade agreement between Canada and the European Union. Has slashed tariffs on imports of Canadian lobster. That means that more 740 sevens filled with Christmas Red Cross stations will depart from Nova Scotia. For European markets this winter and more revenue will float to dig me fisheries that's a factory. Which in the eighteen hundreds sent its lobsters to Boston by steamship. Well this is the big deal and it's all related to. The United States getting away from the TPP. Well all I know is that if by the Europeans want to BOT these lower quality. Hands of the Canadians and and then another this is. And he did you try to make the argument that this is better than Maine lobster there's going to be problems seeing the air Canadian lobsters quite tasty hey you may have been needing Canadian Ohno might my lobsters come with American flags stamped right on those data at this one point. Lived in candidate moved down to me. That's it right and that's that a Canadian that's the right direction while they're doing the right thing my point news. Can't it would Canada's done is and and along with and another group of countries in eleven countries involved in this. They said hey you know the United States does not want to be in TPP will do our own mini TPP. And Maine lobster men are this group because if you're Maine lobster in and you wanna sell. Europe lobster to France right and that's where a lot of bills we've got tariffs there now then 8% you get big terror gap and and worse so. Think about your your a fancy rest for theater you basically by department food suppliers right so they diamond. And then the fancy restaurants Hussein especially this time here they'll say well we want to you know thousand pounds. Maine lobster we want 5000 lobsters. Over this period time and a half with a good bye I'm from Canada because you know 8% or. Yet eight and in this is why you know again when we talk about renegotiating. Trade deals. The goal is not to make it more complicated to do trade you want to make it as simple as possible but also fair and in this case book. You have to deal with this terror with the entire EU you can't do a bilateral thing just with you know one of the countries like you know the trump administration wanted to do and so forth. But you effectively have to be able to do is to otherwise as you said look all those lobster exports they can't is gonna pick them up and study you okay. You know your think. That the do you think the trumpet administration next year as a lot of speculation that they're gonna jump back into TP PQ one's I think it should. Hey every day I agree because GDP is X it it's these are hurting people but these are his people these are people that voted for him the very purpose of CPP. Was to create a buffer against Chinese economic influence expand anger and and so if you are not participating in that process. Then what are you doing. It's I I believe that. The the in there's a lot of whispers that Wilbur Ross is encouraging the president to jump back into TPP here's it was a it is that it was like the music directly built to try to counter the influence of China right. And actually ease that's we try to do these just over their talk about a guy that is exactly what its purpose was they can debate about some of the provisions in north that's fair game then but saying hey we want to move late we're just don't wanna participate or what do you want I think that was largely political. I tend to. They quick announcement on behalf of leader bank you know I know many of view. Our business owners this some some own small businesses I've stockman fell last week he's sold his company for thirty million dollars congratulations. But if you're a business owner might my point is. You need to banking partner. And I can tell you from my own personal experience that leader bank. Is a really good bank to have as your banking partner we had a guy on Lucchino he had that small little company heat up he spoke highly -- bank as well. But by my point is. You you give them a call they specialize in SBA loans he should see the number of SBA loans they made. For bank their size it's just like off the charts there were the leading lenders for SBA loans in the entire state. And why did the right daily reminder because they're good that. They really are good at helping business owners get loans if you deal if your business owner of any kind you McCall their phone number is 877. 6917. B 900. A lot of banks really appreciate business owner customers that's been my expert and the big banks could careless. 8776917900. It's liter bag dot com if you wanna take a look at the bank and look at the website he can do that. Or to talk to somebody say you have a specific need one Abaya. New fleet of plow trucks are you wanna buy the restaurant next door you wanna. X danger in law practice. Give them a call it's worth the time 8776917900. Any news any further news on that Mattel has revealed I I saw the stocks are up for both of them this morning especially Mattel. Looking at what we have right now wad this Chicago Tribune now reporting that there's there is an official offer on the table. I don't have any specifics. I've got there tell stock up 21% assess it this. There's got to be some truth to this rumor I would imagine I mean again these Chicago Tribune now confirming a report that was originally made. By the Wall Street Journal on Friday and leave. Representatives from both companies are not commenting on the citizen being confirmed through Meehan sources off the record appears. And to talk about some of the major franchise that this puts together so Hasbro right now. The the biggest well licenses that they have transformers GI Joseph my little pony monopoly scrabble twister okay star wounds and Mattel you've got Barbie hot wheels. Not Fisher Price American girl seed got some big brands that will be brought together here. You know Mattel has had a really difficult time trying to adjust to the changes. Ian. What kids like to play and as I was to do pretty well with Hasbro has been a nice run Mattel. Has gone from being about a 45 dollar stock back to 2013 down seventeen dollars to. H Hasbro on the other hand you take a look at them over the last five years same period of time and they've gone from being at 37 dollar stock. Up over a hundred at one point this any DOJ issues on a deal like this it is a horizontal merger mean they're both toward companies. Market share and toys like impossible to figure OK just because the trends change so much from year to year so it could be looked in a year. Where you know Hasbro has frozen license. OK they're sales thru the roof and then the end of next year there's no frozen movie and all of a sudden hey we're not we're not quite where we work so you know. I would imagine that gets looked at. Between the two of these companies they'd end up being about an eighteen billion dollar company. But it's not huge you know in an awesome thing that we have to remember. Toys are not just competing against poisoning they're competing against video games they're competing its iPhone there there's a whole bunch of competition. I don't have huge issue of these companies and emerging just because there's so many other things that people can buy. I just and I wonder if it's you know good deal along Hasbro shares or 6% on the snooze seducing his deal would be accretive to actually happen. We will see Lucy Tucker you went to Roger Williams or edit it where what town is that Bristol around Bristol lovely town. Is it near Portsmouth abbey. The prep school you eat eat did you play soccer data ports at that when your nose went against us Saint George down way. Okay down in Newport I don't know if you guys know there's a school down in that area in Portsmouth. It's called Portsmouth abbey and it is just to great prep school. But right next to. Is this luxury Condo development called Carnegie tower. And there's a golf course there's. Marina. There's homes and there but this Carnegie towers pictures as the host ice all it I did tour has looked at the crap by one of these units. It's a 22 story building in the building used to be used. Back in during the war. It to make military. Components Oka and it's a 22 story building that was converted. Back right at the worst time you know back and probably 2007 herself yeah. And we went and looked at these condos my wife and I went and looked at these would want to know what location. And that they were absurdly expensive. Now that come way down in price the acting the beef come again you did penthouse unit which was eleven million bucks in 2012. It's been re priced at four million dollars but you can buy. Units in the disagree pricing what is it is but he like we are looking at two bedroom units in the early. 80900000. Dollars now again for 300 grand and at 300000 dollars you're getting them. Well boo low cost of these big unit's been occupied at all or there's some of the that we stayed in one day be the accomplice insanity you know come down stay went to dinners and the golf course you see the golf course now you have to it's the golf course is separate from the Condo -- Condo fees don't cover membership there they'll be elected by membership and it's an exclusive golf course. But he like the whole complex is to squirt you think as good or bad for Portsmouth you know that you have the all of these units coming on the market there. Well it's it's it's good for buyers. I don't like. People it's probably good to have them bought at some point just so that you do not sitting vacant and so force in it's a nice alternative to the cape. You know see not everybody can go to Cape Cod. And it's eight it's worth taking a look at it's got if you wanna look at it it's. Carnegie. Carnegie abbey club. In its number one tower drive I loved it when we land I just did the reason we didn't buy is one I don't care for condos. Ands the the they were big enough. They act I got five kids or the too badly 12113 hundred square feet something like that have been their two stories and there are just in you should see their views. Oh it looks like it's right on the water looks like you can right out of today and for lots to do yet in all the sports you can think of water sports town this marina. Golf. And and I suspect you can get a bargain. That would be my age or looks like yeah they're they're looking at these things. Did we'll save this story for the comeback when we come back are we talking about Connecticut Connecticut. Is picking up a lot of military contracts will define that for you. Not only from a monetary standpoint but from a job standpoint how many jobs are gonna be created in Connecticut over the next several years. As a result of the defense bill what you know when we return to the financial exchange radio network. The financial exchange with Barry and chuck is liable on FaceBook and YouTube every morning beginning at ten days is the financial exchange radio network don't miss the party of the season it's the fifteenth annual Rodman celebration for kids and it takes place at the seaport world trade center on Saturday December 2 starting at 6 PM enjoyed tastings from seven via Boston's best chefs a Blue Man Group performance silent and live auctions followed by dancing with the world premiere band funds raised support Greater Boston organizations that work to brighten the lives of at risk kids during the holiday season for tickets and more information go to Rodman for kids dot org that's Rodman for kids dot org. This is a special announcement for all landlords chasing down lead rent payments and making trips to the bank to deposit checks take a hassle out of rent today with zero and leader banks all mine rent collection tool he went automatically deducts tenant's rent and deposited into your account visit WWW duds he -- dot net to learn more we see rent your payments for each unit received regularly on the same day every month tenants pay nothing in the first six months or free for all landlords visit WWW dug see rent dot -- to learn more or call 7816418691. Are you financial advisor who lacks a formal succession plan you're not alone according to investment news 43%. To financial advisors are over the age 55 and many have no contractual agreement to care for their clients once they retire hi this is very are strong and we might be interested in buying your practice you worked hard but now it's time to find a successor the -- drug advisory group is a regional firm and we are looking to grow our business through acquisition we will consider both RI AA is and transactional oriented firms with a solid stable of young advisors who put your client's needs first and provide them with -- service and attention to which -- become accustomed if you're interested in talking with us please call me at 803934. Zeros -- one that's 803934. Zeros or one or visit us online at Armstrong. Advisory group dot com securities are pretty securities America incorporated members and SIPC and advisory services offered to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are. Unaffiliated hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking when he one point 15%. Annual percentage yield this is an online product only and there is no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice and don't delay log on to leader bank dot com get all the information about this great offer and sign up today before the rates change yet. Free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. Security suffered two securities America aimed at members finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated. To vote on our daily poll question I've financial extreme show dot com while you're there buyer of the media player and watch the show while you work. This case the financial exchange radio network. And congress rarely gets anything productive done but it does look like the national defense authorization act is gonna pass. And if it does Connecticut is going to be one of the big beneficiaries of that act. Yeah particular this act includes allocations of nearly eight billion for new Virginian Columbia class submarines manufactured at electric boat. About two billion dollars from Blackhawk and CH 53 K helicopters that are made by Sikorsky. As well as ten billion dollars for joint strike fighters in the engines for those fighters are made by Pratt and Whitney. Who is a subsidiary of united attack in both of these companies had aging work forces. And he so. You know there you look at that hires. Him you know be there are literally these two companies will be hiring. Thousands and thousands of yeah workers between these two projects and and it and it's it's going to be going on for the next four to five years that they continue to hire. And so if you wore any kind of skilled trades men. With a clean background. This is a clean background in the key thing drug test criminal yeah in any in eight and they are user tight security clearances so it's not just drug testing criminal this is your gonna go through. In your analyst every person that you live with the over the last ten years are gonna list all of the connections that you made life traveled internationally over time. Because you are handling some of the most. You know secure state technology that we have now Dolly it's a but they're good jobs many of them. It from the labor standpoint tracker going to be union a union jobs in Gensler data electric boat these are appropriations that are made for you know the next five to ten years so it's something we're usage we have got you know those twenty years that wanna be working. You could double lot of that wrapped up through some of these contracts feature could. Owning a dream vacation home could get a lot more difficult for many Americans. He and we're talk about tax reform come full circle back to tax reform. You know in the the markets that would be hit by this and New England thinking. Thinking about the beach community in Rhode Island anything coastal anywhere anything on the tape anything coast also word I'll and the K yeah I mean. Anything in those areas and I am one of those is going to be the lakes region late race on a why in The Hague has. At I think what people this may have escaped Cuba it. Part of the the the tax reform is to limit eight. The mortgage deduction for second oh yeah and currently people are allowed to deduct mortgage interest on two properties up to a million dollars in principal on the this would change in the house bill to be capped at 500000 just on the principal residence. And in the senate bill says the one's totally complete and that's the state and local tax. The senate when they're keeping the threshold and tactic getting rid of the ability to do on second hole. Real estate agents are really opposed to this DNA ours is come out subsidies is they said this a shock but this the median income. A vacation property buyers in 2060 this is according to the NAR was only EV 9900. Dollars. You don't often think of it that way now you know it we're I was shocked by that number I would. Now I know we get skewed because of where we live right these are national numbers. But you know you go out west a lot of times the you know you might be buying gave me I've family lives out west the bill by a cabin or cottage for like twenty or thirty current. Well what's interesting here is now pulling up the the data right now just that I can be accurate on this only 34%. A vacation home buyer shock have household incomes of more than a 10000000. Dollars while 10% earns less than 45 past year. So here here's the question that I come to is even if you look at that 89000 let's say that's actor which I have no reason to doubt its accuracy okay. If you're making 89000 dollars a year or household. You're in the 84 percentile. In you in the US OK so you still subsidizing effectively the top 15% is not the top 1%. Look it's something that would be a real challenge I think for a lot of these coastal towns. And a lot of these towns that you know base there attractiveness on. You know seasonal retired lab I talked to Ed Lambert the morning he's the morning died down on the cape and great and he told me he's here and from a lot of his listeners who are in the rules that you that you know what else this would affect the ski mountains. Hey you know all the people I know all the ski announcer if you have a place up a lunar something that you'll get a buyer place up at Sunday river. Think about Lee went the sake biggest hit twice. Lakewood percent of buicks ought to be because if you lose the state and local tax deduction right if you waterfront home on liquid the sake. I promise you your taxes or ten grand or more a lot more. Easily sensuous and easily so the you lose that and then you lose the ability to deduct the mortgage on that property. That bad as I potential to really. Upset the apple cart. I I I don't love the idea of deducting mortgages on sept. You know it and I get that it would be significant change. But it also might be the right change TEU the problem is to do that somebody's already bought it. You know he let them at least keep it until that mortgages gone. You know it's like grandfather. The people that mean that that's the house bill is doing good the house bill would do that at least in the US that's. That's the way to go those UCLA basketball players still China still in China. Don't steal crap. Hopes and I eat out there missing gained some Americans this post season started out so eat at three players in the pretty good players that they Prius ailing. I don't know how good day actually when problems balls rather on yet but I think it's the one that's not very Q do you know I'm starting UCLA is going to be some more under but does it and we Naimi you know sometimes they take will take you have your brother comes you know like I've seen those deals war. Yeah you silly starts other season starts on on Wednesday. That'll be interesting you're still in jail and China they Mattel shares are up. Three purse Aaron 22%. And now markets also turned positive the Dow's up fourteen points and crew goes down three cents a barrel. It's very shocked and Tucker. From the financial exchange for him.