Nov 14, 2012|
Rob DeMartini, President and CEO of New Balance, on the Run/Walk to Homebase and expansion in Brighton
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
68680. Is our text numbers send us a message -- service your interpreter. You give me that question for by the way they're -- Yeah OK so finally says I'm 45 years old Iowa about sixteen grand on a house of five point 75 injury or should I get a home equity line of credit for emergencies. And that's seventy grand as an emergency funds. 70000 is a big emergency fund and I would pay off that 60000 dollar mortgage at 575 even though it's a small mortgage you're still paying interest on it five point 75% so. -- effectively which he could do right is take money out of the savings account where we all know what he's -- on that right it's zero point something. If it's not an awful lot of money. And so you you go to situation where you take money out of the savings account we are making nothing new path loan at five point 75% that's a Smart move. This thing you might wanna do is obviously your work and you've got a good job here good with your money. Open up a home equity line of credit C a -- there for emergency purposes or maybe you wanna buy second home. You never know if it it home equity lines of credit don't cost anything to open right it is especially -- good. Bore a nice thing to have because when you need the credit is when you can't get it -- -- all right. Carried our guest is Robb. CEO of new belts and company -- new balance corporation. Good morning rob Correa. Are you good you down on Boyle says street for the big opening today. Not yet will be their 4 o'clock today. So what's going finally got to go to fund raiser with the Red Sox. Well we have for the sport you're in a row will be the presenting sponsor or great event that the Red Sox foundations runs -- run walked home base. Used to be -- a lot of home base but now renting walkers this year and it really is great heard -- that raises money for. Wounded warriors that return. No kid and how much she kinda how much you try to race. That we I think they're trying to raise two million dollars. No kid that's great. Now so you're gonna be there at 4 o'clock this afternoon at the new -- storm -- the street right. We'll be there where the Red Sox foundation and represented some military. Bouncing. The date for this year's event which will be actually -- -- or. You know I shopping your store in Brighton all the time -- eight of them over their pretty regularly I didn't know you guys need military gear like you guys make 100%. Insulated over boot -- sounds like something Nike use -- in the hockey rinks as winter. No question we make a lot of military. Product and one of the reason we -- besides serving the military is. They tend to really push -- on technical performance. Helped our total business by providing products for the military. Are they available for retail elect an -- can I walk into a new balance store by a pair of boots that are military type boots. In most cases you can't fight it and -- it's not and that store that the people in the store and fight for. No -- guys make easy make him in the states are viewed over in China. That would make in a number of -- that we still the only speaker company that makes 25% of our domestic production here in the US. We have three factories in Maine into here in Massachusetts. And then some of our product and -- US made product is made in -- Vietnam China or Indonesia. No way I ended on a different topic. You know I mean your building all the time in Brighton. I hear you guys have got the laws surrounding land what are your development plans for that property when he and break ground. Well break ground sometime early next year edit them multi phased project that will include. Not only a new headquarters for us but a number of facilities. That will benefit bright men and the neighborhood in the area. There won't be housing but there will be recreational. Both our space and indoor recreation they thought would be an accurate that you try those -- Yeah I heard that the guys at lightweight build and hockey rink there because there's a -- breakdown on the river. And Charles River near you is this at pet project of somebody that works for the company. Now I mean -- as you know we are not in business with our order. Brandon and we do think that I time continues to be a challenge particularly for the neighborhood where they -- and by the way onto. Appropriate ice time but it'll be a multi purpose. Indoor facility that will have tennis courts are running track. Meeting space as well as site. You're not gonna -- figure skaters on and I. Well I'm not going to be the judges that that that will let anybody on that that can benefit from my side. Ice time is expensive it's I think it's about 400 bucks an hour now. To it to -- dice you know that that's that's big money. -- as any parent that has its -- you know with a lot of early mornings so. It that's for sure sounds like you're speaking from experience. A little bit all right -- Hey thank you very much for joining us and good luck with the fund -- this afternoon. Robb. CEO of new balance corporation joining us today on the financial exchange what's wrong with taking scarce. They wrecked the ice they don't -- do the they have those in OPEC -- and they put big holes in the ice and then I trip over them. Shouldn't be out there when they're out there we don't hit on some although I ran a practice after at least have to share race with a figure -- -- at -- -- EI today in the middle of the rights that you figure skaters someone a tiny bit. Went up. Pain we say in the middle of the -- with -- -- you don't do anything that you ever notice that you go to the -- -- they take up this whole of biologists is perfectly good -- device. And they waste rate BP stand around -- repeatedly talked to -- Lose it in Indian struck. At least hockey we get out there and we use that -- we cut that I sent by you guys violence you guys -- -- -- -- -- -- -- and -- -- -- -- -- You knock this down -- to come onto the -- -- all that backwards and sideways and I mean c'mon -- be fair you have to share no figure skaters. Iron Mountain is in the news or talk about Iron Mountain it's a big Boston based company -- in the news that's our next story on the financial exchange.