Full Show 10-23-17

01:51:29

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

This is the financial exchange with the very Armstrong and chunks 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 economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. The Dow Jones Industrial Average closed on Friday over 23300. For the first time ever marking a new all time high. It was largely on the back of the expectation. The tax reform may be one step closer to becoming a reality checks out and Mike Armstrong in here on the financial exchange. There Armstrong out wars of the day. So we do have our one Armstrong rule in effect in Mike looking at the market Leo on Friday obviously 165 points up. Seems like we just crossed 23000 now we seem to be in route to 24. Some optimism in the markets. Clearly and you are correct a lot of that is based on taxes in tax cuts potentially by year end. Though I have to give a lot of credit to earnings were right back in the heat of earnings season and so far you've seen massive revenue growth. Is there any part of the any sectors in particular that you're seeing the best growth and I mean I know that energy earlier this year was very strong just as oil prices have risen so much since last year is that still the case now. Energy still tolerates. And obviously tech continues to do well and obviously retail continues to do very poorly other than a few very small out liars. But just kind of across the board you seem to generally be doing pretty well. Couple good quarters for earnings but the the big news coming up overnight Donald Trump giving an interview saying that he's optimistic. That there is going to be tax reform. By the end of the year are still some details are still a lot of details that need to be worked out for the big procedural hurdle that was cleared. Was that. With the budget that is now effectively not in place but. Ready to be put into place there's room for up to one from one point five trillion dollars in additional deficit spending over the next decade of the can be enough. I think this this. This tax bill's gonna require a lot more than one point five well let's talk about a couple things so obviously they've they've cleared one point five trillion in available new deficit. Opted to potentially pay for these tax cuts and he this yeah that's something that I wanna get into there's the concept of paying for these tax cut right to give an awful lot of people. Who you know voted for Tea Party Republicans said look we don't want to add to the deficit we want to do make sure that we're being fiscally responsible. In the budget is well as everything that we're hearing about the tax cuts is that it is likely to add to the deficit personally. I don't have a problem with that I think that adding to the deficit in a responsible way when you say okay here's what we're gonna do can actually be a way to generate some decent growth yet. But the question becomes politically is it possible to get this through when you have so many. Tea Party Republicans who campaign specifically on not adding to the deficit. Yeah I think there's your big hurdle and then the second big news if you take a look at the calendar between house and senate we have between having 27 and thirty legislative days left this year. So it's not like we have three months you know we've got. 27 days only of 27 days like that don't work at that it if my math is right in generally I see myself as someone who's pretty good math. There's eight days left in October calendar one OK there are thirty in November tickets 38. And then you've got 31 in December so we've got get 69 days left in the year and you tell me they're not even gonna work half of them correct. Correct. To the count this 28 legislative days left in the house and there's a couple more in the senate but that there's more than thirty so. You got a lot to get done in less than thirty days that. That may explain some of the problems that we see but what lets this takes us to our poll question which is. You know and you can head over to financial exchange show dot com and order to vote in this poll question it's our poll question of the day. Do you think tax reform will pass by the end of the year Donald Trump signaling yesterday. Yes he's optimistic the tax reform is going to get done the market signaling on Friday they were one step closer to tax reform. Do you think tax or formal passed by the end of the year. In the near 27 legislative days that we have left in the next two and a half months that's right 27 legislative days. In two and a half months head over a financial exchange showed dot com let us know what you think and whether or not tax reforms in the past by the end of the year Mike your thoughts. I know I'm a big no I am not I don't want to get I just don't think it's going to be possible to advocate I'm in no was well I've I've said since the beginning of the February of eighteen is when we end up getting this done so I'm gonna stick with that I'm gonna stick to my guns. February of eighteen is when I think he gets done but head over to financial exchange showed dot com. And let us know if you think tax or formal passed by the end of this year. News from Tesla in China Tesla can be setting up a factory in Shanghai. Yes so big move for Tesla mainly because is there going to have just broader access to the Chinese market they. So when you do business and I think what all league companies her. Looking for a cheap labor and that is definitely have me get that big companies welcomed any companies. The problem is you tend to give up a lot of fuel our. It's rights is the company years years you know all the research you do. And right some operational control the chaos that the Chinese Government requires typically that you partner with a Chinese company which effectively can be the Chinese Government in a lot of situations. In order to set up facilities so what is different about this deal is that Tesla. Isn't going to have a partner in this factor test is gonna own the factory on its own in the Shanghai free trade zone they still are likely gonna have to pay 825%. Import tariff to sell the cars in the China. They well but it right now Tesla in China cost about twice what it costs in the US and test was asked Maine in my field the cut down that cost in China by about a third just by during the manufacturing. Bear. And avoiding shipping costs so. We'll see I mean. Yet it has traditionally what you've been faced with yet you got a partner with the local Chinese Furman basically share technology and profits at the local Chinese firm which like you said could be the government where as. This deal same now will still pay the tariff like we're finally toward 5% tariff but we're not sharing stuff with him but my question is these. These terror freer these these these three zones that they'd free trade zones at trying to set up like. And just picturing in my head like cameras everywhere and just still trying to steal all the technology companies. China is a critical market for. Hassle to get into China right now in 2016. They sold 24 million passenger vehicles so about 25% more than what we sold in the US and that number's growing rapidly you before they went to 21 million cell. It's you are rapidly seeing China become. The biggest buyer of autos out there in a particular. China is committed to having 8% of all vehicles be electric at least 8% of all new vehicles be electric by twenty points and you've got a quick ramp up there Zack and Tesla obviously. They're an electric carmakers say you would seem to think that it's this is a a good match board and to try to do this but obviously. I know that tussle was go gonna want to be you can keep things posted just as far as technology is there is not a good track record pass. There's not a good track record of intellectual property protection. In China as an understatement of the century that's that's like saying that Apollo thirteen had a couple technical issue I mean it's like if they they do not protect intellectual property. In China so it's interesting to see that you know potentially Tesla getting some kind of deal to at least keep everything you know in house will see how well that ends up working out. GE which had a roller coaster of a day on Friday opening on it in premarket down 7% before closing up 1%. But GE announcing some changes to their compensation structure. Yes so I mean across the board you've already seen a number of changes a lot of high level executives game pad being laid off Jeff Immelt urgency and John Flannery the new executive it is you know has a lot more incentive based compensation going forward. You know this is that he really. And just accompany we've been talking about seems like every day for the last three months. The pretty much GE's stock today down below 23 dollars a share right now there at the 52 week low. Is twenty to ten which was reached on Friday before they rallied. To end up closing back near 24. But this is a company that year to date is down 27%. Okay. They are well off their 2016 high of about 33 dollars a share. And you know you'd go back three financial crisis and obviously a very different company that note significantly. Significantly more assets at that point but this company the backing of six of seven was up over forty dollars a share today trading at just half of. Yeah I mean a decade of terrible performance and yeah I mean Gary they're moving compensation to more of performance pay structure which is important I don't know why it wasn't morrow line that way you know. Ten years ago but regardless it's important they're going that direction. I was I was mentioning story to bury on Friday that red I think there's action and CNBC but in mail just talk about the massive waste that this company. In used to take two jets wherever it. You find one and then have an ambulance fallen case. Where they're not commercial placate the first of all you couldn't fly commercial. The second. You you can have a backup just commercial flight like it could just hop on southwest planes have him in groups even I had just deal with that yesterday by a second plane Kathy why a second private jet Kaczur newsroom or their personal semesters that was that was just like a story that I read that was just so. And knowing explaining of what the huge issues that geez seems to have just just cultural issues. Delhi it that's just it's just not good from a shareholder in corporate governance perspective you would that you say. This this is a return that should have been you know coming back to the company back to shareholders yeah instead of being spent on a second private jet that's right other news out of GE. GE when they announced their earnings. Indicating they may ask some questions on their long term care unit about potentially having some additional losses then and everyone else or years ago they spun off their big insurance arm into Genworth Financial. But it looks like they did a lot of re insuring across the and insurance industry so you know if these insurance companies can't afford to pay their long term care policies and G have to step in and annual and that's at all familiar with this market knows that anyone with a long term care policies really struggling. To pay the benefits out weakness. That one of one of long term care and any sort of you know adult health care cost on the last decade. It's halting dividends the parent company at this point the insurance unit of G and it's it's going to be very curious to see where this goes. Question from 86 so it kind of dovetails into this what happens. If G cuts their dividend it's it's a real question now as to whether or not GE is going to be able to maintain their dividend I think that's part of the reason why the stock is sold off so much is. The cash flow from GE simply. Does not seem to be strong enough to keep the dividend where it is. At least for the foreseeable future you might see another quarter to where it's where it is right now right but this is a company that I think there's a lot of fear the dividend maybe caught. In so that it kind of been supporting the stock I think. So there might not be too far default they cut the dividend is I think a lot might be baked into the stock price but it could certainly have a little bit more for short term impact. Yeah and made sure short term and then you know long term too if you're pain the stock protesting at 4% dividend if that's. If that's one of the main reasons people are buying it then you know who was edited. The incentive to buy that stock and GE revenue pretty much flat over the last couple years you're so obviously not doing anything to grow their way out of it. Let's take a break and coming back we're gonna be joined by Patrick who is from the economist. Re talking about these firms that burn billions of dollars in losses like Tesla. In whether or not it's good for them in the long run that's coming up right after this break 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 aren't. Break here without Marion jog on the financial exchange radio network. And he spent the last thirty or forty years building your financial planning business he worked hard and your clients rely on your. 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Or visit us online at Armstrong advisory group dot com securities securities America incorporated member of an SIPC and advisory service securities America advisors incorporated burials are represented on an advisory group in the securities America 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 with a one point 15%. Annual percentage yield this is an online product only and there is no minimum balance required so log on 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 change get. 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. Hi everybody it's very Armstrong and Jake two Lian we're talking about a program called Z rent 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 zero rent allows you'd collect checks electronically. Jail is hoping he could spend a little bit of time explaining how easy grant works and why it's a big advantage for landlords. Absolutely buried so we we develops he rained two out of me the whole right now because right now. You know with the landlord when you're getting rain checks. It's low it's unpredictable. 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They could sign up and become part zebra yup you your if you have a community bank that wants to be a member happened Collison happened sign up and the service will then be free free. All right if you wanna learn more about this he rent. Go to Z rent dot net him a call you wanted to 8776917900. If your bank doesn't operate that can sign up for zero it. Go to zero rent dot net or call them told free. 8776917900. Security suffered through securities America income member finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. The financial exchanges all over New England to go to financial exchange showed dotcom and search for the station closest to you this is the financial exchange radio network. Patrick fell from the economist joins us now the article is titled firms that burn up to a billion dollars a year are sexy. But statistically doomed Patrick thanks for coming all of those. Patrick can you talk a little bit about the pieces of this article on and what it describes here. What will what you told to brace TJ they complain about it I think would be cool people at target and that that that sort of trapped by Wall Street. The visit and eat in the two companies that until it completely the opposite position and there are a lot of bump it to just leave. Colossal about the audience and be of people that board that we thrilled that an exploit that statement. Looked what made them on mutual. What why are some of these companies given a pass by Wall Street. Once the combination of all we're keeping them and that that point we picked included Netflix you've been a patina and then as he energy company. I typically get up I've read not a characteristic one aspect of harassment it seizures these. And Ellis story. Old technology change or from it. Improvement in the future of the second thing is they were typically exhibit quite off short time great which it investors expected. And the third thing is big and be very very good at. Organizing that bite them in which means that they find clever ways to Biden he mutual is the flavor in the bowl as a brilliant. It seems to me Patrick that one of the things that this does is it has the the effect of almost incentivizing start up companies to try to follow this path where hey you can spend all the money won just figure out a way to grow yourself out of it. But we've seen a number of IPOs in the last couple years that haven't been able to figure it out in the stocks have been punished as a result. Yeah I mean actually he got a back seat of the late 1990 that he keep that in impression many more complete. Will have to actually if you look at. Apple what has been companies in the old US. I need twenty only believe that a group billion dollars the year of birdies immediately. All right it's then it's into the skeptic result of clones that stole. Money as you rightly point I mean that the key thing to remember it is. However despite being in in some ways apple mobile field trip and a law. The mystic plea deal with success so really quite late. Does this have any effect on curious does the does this have any effect when you look even just down to seed stage and venture capital financing. That near VC firms won't overlook flaws in the business because they say there might be growth. Even if they're losing dollars left and right I mean Cooper's a clear example this they've never had a profit I don't think and people still keep pouring billions into the company. Yeah I think we keep things going golden we'll be in Latin which a slight difference of what is what has been Cuba. The moment which which you mentioned which is the company really ideal but the action. To be at least it seems really quite implausible that but but as the sensible approach. Developing something to be the Latin of the moment. These people setting up the funding companies in the expectation that one of the big tech toilets will buy them. They spoken before about might be actually quite a sensible strategy. It you can correct something that one of the big. Mobile police wants to body you can probably make money upended the individual businesses will have probable. Talk with Patrick files of the economist Patrick went the other things that I find interesting. Is that these companies here. They're able to do this right now where the economy is in relatively decent shape there are any major. Issues at least in the US in most developed markets right now. But if all of a sudden things take a turn for the worse it's tough to find the cash then and ordered him to pay for those losses correct. Yes I there's an interesting relationship with the court of my query take should be his. I think these companies have done really well or below the year is partly because. We've been trapped in this point of load great article that you. Not how many businesses growing up off and you cut low interest rate. He hit that about situation could be destabilized and he went wanted to point that they can be recession or crash and suddenly everything is. RB roll instinct thing is also a bit maybe the economy takes thought and the global company growing quickly. That might well be this can't be premium attached to these huge companies. And also that happened interest rates would probably get a lot. Of one of the characteristic that these all right businesses that we. Founded in most statements for the body they're actually very indebted that they've been able that they could all of this unusual period of low interest rates. So it's kind of a goldilocks scenario for the right now it's if things either got worse or better they might now be in the same position. Yet you don't duplicate that they via the equipment debate but to be with this really fairly small number of our people have record decent revenue rate. And I think one of the state the consequences of that is when people see they Tesla. Growing really quickly though like the people that haven't we a couple of companies and or investment pool but it actually principal point rate. There's suddenly it will impede that as it went into the situation with the equality was behaving warmly at mobile companies were worried and investing. Maybe that these these birds we looked a bit less special one might be Paul. Outstanding will Patrick thank you very much of the time and thank you for the great work on this article. Patrick miles from the economist talking about these companies. Burning billions of dollars it's always been the other question with these. I hesitate to even call them startups but just these companies that. Burned through cash in search of growth. We saw on the tech bubble it didn't end well yeah let's just say no for every next Tara and Tesla maneuvering Netflix the receipt you tend to forget about the snapped chats and the twitters and the does anyway taught by a group on the blue aprons in the group harms I mean yeah. People said global group one's gonna change of people do business no link if you could make money selling coupons. Someone would have done it'll look at it it's just that simple sometimes. We're gonna take a break but when we come back really talking about the world's largest IPO ever. That is coming into when he team right here from the financial exchange radioed them. Life goes on FaceBook and follow us on Twitter. Show breaking business news news hole. On the financial exchange radio network. 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To 900 or email BBO at leader bank dot com for more information member FDIC equal housing lender. Time now for Wall Street watch a look at the market's performance so far today until Berrian jog right here on the financial exchange radio network. Topped Wall Street watch here on the financial exchange Mike what are we looking at today's biggest story. So big story today's Hasbro reported earnings actually pretty sellers they earns 209 a share beating estimates that fifteen cents came in above forecasts on revenue as well the real down news here is that. They're predicting a rougher than expected holiday season due to. To his arrest bankruptcies so. Unclear how that's gonna shape out but clearly has taken on which in the stock is down nearly 9% on the news and Mattel. Certainly down about 4%. Just just in. You know along with the. It's interesting on this is that Toys 'R' Us if you look at their market share in the toy market you know the percentage of toy sales bring it into a different retailers. The last five years they pretty much been in line right around fifteen to 17%. Wal-Mart has been most impacted by Amazon wal mart's share of the toy market. Has gone from 30% down to around 18% while Amazon has gone from five up to fifteen. Toys 'R' Us yeah means so that's the thing you've got to predictable Toys 'R' Us that's no longer be gonna be predictable next year that's counselor to hate. This was accounting for fifteen to 20% every single year. Toy sales and now they're who knows what's what what I find curious is. People still gonna buy the towards right. Yes well they did you did you ever say elegy the store closed Alec can't buy anything for my kid no let's maybe if you are. At the outlet mall and you know. Shopping at target and two other stores and you're going to Toys 'R' Us and there's no nothing on the shelves because they haven't resupply their inventory concern bankruptcy proceeding tournaments after I was gonna get some. You know one extra thing is gonna buy something from mine niece or nephew and that award this year there's another question. Is they're still plays for a standalone. Big box toy retailer. Doesn't seem like I mean is here and there you can see where their food and you know I'm sure there are places in New York where with a name that the huge Toy Story and in in Manhattan it's not one on violent because I'm sure their places for those here in there but. I know these big chains or survive us. Yeah I'd see it's a real challenge is toy sales it's it's a low margin business to be in with pains you know I I see Amazon being able. To kind of come in and and take them at the one place where. You might have an opportunity is. If he gets to if you give a if you have a place where kids came in Iraq with the toys to begin with so that you can maybe Z hey what needs is my kid actually like playing witnesses is that the right size for them. Yeah I mean this kind of different different everything but like that but Lago and has done. As for that exact is kind of a retailer but it's experience like that that you can do there exactly on the plus side 71 text in no more kids having multiple meltdowns in the toy store. And it let us now with the it was a Speedo Wal-Mart or target and cemeteries Paris the hopefully hopefully it's all on line those those are I'm happy to see those get out of the malls let's talk a little bit about the Saudi aramco IPO this is going to be the biggest IPO in history. Yes so you'd for anyone that's hasn't been following this at all it's been going on it and talked about for a little over a year now. And effectively Saudi Arabia is going to be. Putting for sale putting up for auction about 5% of their national oil company which is pretty much the entire economy of Saudi Arabia right you know they don't really do a lot of farming or anything else like 95% of the that the country exactly so they've been working on this for awhile and the problem and they seem to be facing up to problems as she seemed to facing one historically low oil prices. And we have certainly rebounded from where we had our lows but. Q is this is a country and a company that has never been forced to have any sort of public transparency. Or oversight around what's going on inside that company if you're going to it's all off for your shares continue to change. It's always been whatever the royal family wants to do tackle Anthony the royal family's able to do so. There's definitely questions about corporate governance there are questions about disclosure and transparency. And questions are how much actual oil in the ground where that's Richard I don't know it's entirely short you know and that's before leaving gets the question of okay how much longer or is oil going to be the main thing that we're using for our vehicles probably the next twenty to thirty years but beyond that. Who knows me you know electric vehicles thirty years now could be the default so. It's it's difficult to say. Yeah it's it's gonna be. Dairy actually I think you know there's. One of two ways this can go either they do not provide much public information in which case I sat units canceled there it goes off very poorly for Saudi Arabia. Or they really open up and allow a lot more transparency in this. Could earn them a lot of money but I don't know what that would do to. The state of politics and Saudi Arabia. Yep definitely chance to love really shake things up let's talk a little bit about leader bank briefly. I know that varies talked about his relationship with them over the years and he's been doing with that business with them for years because they're always coming up with great deals. And they've got another one now that is surely worth your time to check out the leader is offering an. Providing free online banking with a one point 15%. Annual percentage yield it's an online product only. There's no minimum balance that's required. All you have to do. Is logon to leader bank dot com. And sign up today the rate may change without notice or don't delay. Log on the leader bank dot com get all the information about this great offer it sign up today before rates change it free online banking with leader bank's new. It has a one point 15%. EPY and no minimum balance in remember. This product is only available online so log on to leader bank dot com right now. That's a leader banked dot com. Leader bank a step ahead member FDIC. No minimum balance fees may reduce earnings and great subject to change without notice in May change after the account is opened. Cisco talking about a deal and actually this one I think is announced as of this morning Cisco buying telecoms off. We're maker brought so. Yes so could be it obvious Cisco you know very much a bit of hardware company nutritional business with switches and routers and just seeing declines across the board so looking to entrance and new areas. This you know if a ghost or two billion dollars or be pretty significant increase closed on Friday at 54 dollars and nine cents which would give them you know company a market cap of one point 67. Doing some pretty significant premium to does go through that two billion price. Cisco if you bought this stock back in July of 1999 you're still the same stock price to eighteen years with no capital appreciation. Just put it in perspective here now serve this changes that but obviously. You know clearly they're trying to diversify here. News on the earnings side a couple companies reporting Halliburton the oil field services giant higher profit largely on the back of a demand in north him. Erica for the serves yes or net profit to act came into 300 came at three under 65 million for two cents a share. If that compares to just six million dollars or penny a share a year earlier so you can see just how significantly the fluctuations in prices of oil have. Impact obviously you know a company like Albert is can be hugely impacted by the price of oil but that is a pretty significant swing with these prices. Yeah we know that US demand has gone from about their US supply rather has gone for about eight point five million barrels day at nine point five over the last years of Halliburton. Clearly benefiting from the increased activity. And Phillips the the health care technology company. Coming out with their core profit rising 12% you. Yes 532 million. Euros or 626 million. Dollars and really just strong growth in China so eighties he comp sales up in China by 4% in now really move your bottom line in the. Let's talk a little bit more about the Amazon bidder rather the bids for Amazon's headquarters. We know that there are I think there's something north of 100 beads total that were announced. And threaten to England I can name at least twelve to fifteen at around there yeah let's talk a little bit about the one in Somerville. We've talked about the one in Boston we've talked about some of the ones of New Hampshire and so forth but this Somerville bid. Is near panic emphasizing a lot of the same things ball. And it seems like it is so it's you know it's and obviously Somerville new very much connected to the city of Boston straddles a lot of you know a lot of the same cities. I think the difference between Boston's been summary of those that Somerville just doesn't have a one uniforms space that big podiums on their proposal basically stretches that map between three different locations all attachment ET. His that's what Amazon's and I think there would be much marched in one big giant site. Everything that they've said suggest that they want one campus you know what one place where it's hey everyone is you might have different buildings that might be 45 buildings across the street from each other right. But I don't get the sense that they're looking to have their people commuting between buildings to go to between you know two stations to go to different recounts now and I know where I could be wrong but I just don't know if there's room and some of them make this happen do we know win. This is finally going to be awarded its in the next three to six months hope hope that it happens we can stop talking about it but it'll be nice to have like the speculation done in just feel like OK we've got the bids here's what we're doing yeah I think I believe that Baker's gonna be released the details of of the bids. So that we can see what the financial impact is most via I thought I heard that it could be room it's a new data Connecticut with the Connecticut state legislator. So legislature coming up with a compromise. To try to work through some of the budget issues they've been going through the last couple this has been. Long long time coming along and talk about this budget deal so there's a few highlights and I'll point out at first off it did not raise any income taxes or sales taxes and they had been talking about a soda tax on sugary drinks they didn't do that either. They did do it too big things and attacks guys so one they they and continue to property tax credit. For 200 dollar per filer but they limit that only the senior citizens and those with dependents after a young couple that'd dependents then your bitten. The shaft on that one and then they also increase in the tax on smokeless tobacco and cigarettes. To beat this highest in the country with the State of New York. And and really big on the state employee pensions and specific teachers pensions they have increased the required contribution by the teachers and that's going to be. Jest yelled about for a long time I think is a pretty low contribution and there are only contributing six or 7% at that at this point it's industries were intent or whether it makes more sense than making the taxpayers pay more for the pension and which is. Effectively what they were gonna do previously they were gonna punt to have the other local. Municipalities have to pick it up and on and kind of the tax burden herself it appears that they do have. Some solutions here Connecticut obviously still in a whole heap of fiscal trouble yet it Hartford's got one of the worst junk bond ratings than I've seen. A lot of municipalities out there it's really really that yeah Horford likely going to be filed for bankruptcy within next three to four weeks ago. We will keep you informed on that. Let's take a break and Greg Carlson for morningstar's gonna join us on the other side we're gonna have a mutual fund Monday talked about one of the mutual funds that Greg is highlighting when we come back on the financial exchange radio network. Trump's administration hasn't passed any significant legislation yet but tax reform is front and center it pass me in here. Keep it here with Barry in charge for the latest on the president's agenda and how the markets are reacting and this is the financial exchange radio network. Retirement it's something we all think about and all of us look forward to it after many years of hard work are you ready for mentally perhaps but there's much more planning required if you wanna rest easy in your later years hi this is very are strong and this month my firm the Armstrong advisory group is offering a brand new guy called retirement readiness unit you'll find information that can help educate you on what steps to take to enjoy a safe and prosperous retirement such as how much money you'll need to maintain your standard of living and don't forget about healthcare costs and tax considerations it's all in this brand new guide which includes your own retirement readiness checklist you can get the guide by going to our web site Armstrong advisory group dot com that's Armstrong advisory group dot com learned today so you can plan for tomorrow download the guide right now at 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. 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 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 work hard but now it's time to find a successor the advisory group is a regional firm and we are looking to grow our business through acquisition we will consider both are high days 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 803934001. That's 803934001. Or visit us online at Armstrong. Advisory group dot com securities offered to securities America incorporated members in SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Everybody it's very are strong and I'm joined today by estate planning attorney Todd lot ski from the law firm of Cushing and dole and I were talking about drafting tips. For your Medicaid income trusts. Todd you know I keep reading almost on a weekly basis about stories worst states are challenging. Durable global trusts and Medicaid applications what's up with the increased scrutiny on these trusts. Yeah the problem is that you know many more and more people maybe are trying to draft him more more lawyers are trying to get into the field that that may be race that the safest way to say it and and they're putting paragraphs and it and it just caused problems if you if you wanna put it in English because a crack in the ice yup and allows them to reach in and you know grab those assets from the trust and it's that that paragraph that causes the problem and so they're starting to realize that rather just put states are true yeah. States are saying you know we're gonna we're gonna take a closer look at every one of these trusts and see if there's a way that we can find a crack and that well makes sense now. Whipped eight would have been. What's the result if you lose if you go to a fair hearing and you lose what happens while if you were to lose that the assets basically the assets in the trust that you might have told your clients are going to be protected from the nursing home. Are no longer protect they would be considered accountable assets. And exposed to the cost of nursing home care so it's a big deal it is a big if you lose it's all about drafting Mary it's all about making sure war. You put the right paragraphs in the trust. Folks if you have a Medicaid income trust you may wanna have it reviewed to make sure that your assets are in fact protected. He can reach out Cushing handled by calling them at 8668485699. If you want to copy. Of the October guide it's about Medicaid income trusts. Most of you choose to download the guide from their website which is legal exchange showed dot com. Legal exchange showed dot com for your copy of Medicaid income trusts. The financial exchange with Barry and chuck is alive on FaceBook and YouTube every morning beginning at ten and this is the financial exchange radio network. We know that many of you have jobs to keep you busy all day long as we made easier for me to catch up with the financial exchange with most convenient for you. Just download the I heart radio app on your phone or tablet search for the financial exchanging you'll have access to all of our content including individual segments and full shows. We're joined now by Greg Carlson from Maurice. That's coming on right. Absolutely so looking at this it seemed like a pretty well rounded mainly US but. Globally diversified find out what's their real competitive advantage that they're bringing to the table there. They've got to really be in deep you know about fifteen people. They have a twenty year track record on US one color in the epic closed human pastor. This one started out and debut of its and had gradually add it on the I car. There are brought back category 2012. And a record and. It looks like they're okay. Sorry. It looks like they're about half in the United States and half outside to do they have any limitations on where they can go. No not really. And that way you're very. Welcome. So how has it done over the last you know 13 years as I always compared to you know the benchmark am looking at say you know vanguard total world index and it looks like it's up form pretty significantly in the last few years. Yet look at some of that is due to the fact that it but he growth oriented but it even done well over Europe orient but that. And where where expenses lemon. About average aka not not cheap about it. Oca. Where would see this fitting into a portfolio I mean it's pretty diversified is it very concentrated any of the positions they go like you know where could this fit into any other retirees portfolio for instance. I think it could be somewhat of a core holding there is some volatility here because of the pit concentrated at about forty buys stock. But. I want it to be and should be that long term goal. Well Greg appreciate your time on this after those looking it's the artists and global opportunities fund ticker symbol is a RT RX thank you for joining district. There. That was Greg Carlson from morning start again talking about the artisan global opportunities fund. Synthetic granite state regarding the legalization of may or want what are we get there. Well they're it's scenario try to create New Hampshire I mean they're kind of surrounded at this point drag mean. You've got Massachusetts that's out there waiting may hit. Mean is pretty much faster Vermont's looking at it and I think New Hampshire kind of looking at themselves and saying well. If we don't do this one were going to be you know trying to keep up with the enforcement of this caller you know how much money we spend on enforcement. Illegal marijuana and Q how much tax revenue missed out on mile island all of our surrounding states legalize it says so what are we getting in in New Hampshire like how far along are they towards legalization what are they talking about doing so they had a small subcommittee. That just voted three to two to you know move forward on bring this new largely to the committee at which point have to have a bigger vote but they be talking about legalizing it for you know adults 21 and older and and also having retail sales of its you think you would end up being somewhat similar. I am Q what we have here are what we're going to happen here in Massachusetts as far as the timeline goes though it's really you know tough to tell obviously. Here masters cup time it's going to be a lot faster and it looks like it's still a few years out before we see retail sales here. Yet they pushed back some of the deadlines and so that's correct that's right. It's it is interesting if you take a look at the the map of the United States where things stand her and at the entire West Coast is legal fees if you look anywhere on the West Coast. It's legal at this point you can go to Washington legal. Organ legal California League as anywhere on the West Coast illegal Nevada's legal as well Colorado we've talked about in depth. The East Coast the only two states that are illegal right now mean in Massachusetts. The Massachusetts saying OK we've we've got to kind of delay our implementation a bit. But a whole bunch of states where you've got medicinal marijuana right now. Pretty much the whole rest of New England DO through the northeast down to Pennsylvania and Ohio at this point. The southeast largely resistant to decide from Florida. Yeah I'm surprised. When I was kind of looking at this year was. What was going to happen with the trump administration cracking down on this from a federal perspective we haven't seen much have we now we saw you know some. They've hinted at that they were going to you know do some crack down and you really focus on this but I really haven't seen. Much of anything from the federal level to say yeah we're going to start. Putting feds in those states that have legalized and things like that and this has always been kind of a key issue to Jeff Sessions so. I like Yuma little surprised that you haven't seen the federal government. Trying to enforce more aggressively. But that's sessions doesn't have enough honest player meanest player thinks who's trying to get a right now. Died you know he's he's talked about the war on drugs being a big focus and wants to focus on that Stewart goes. So obviously New Hampshire considering. Legalizing recreational marijuana but nothing on the books as of yet. Donald Trump saying the Jenny Jones still in the running for fed chair I doubt it. You think so I think you I think you're likely to have Powell having to relate to train that Taylor and now. What do you think that he simply wouldn't look to keep Eleanor that she doesn't want the job. How I. I guess a mix of both having young would take the job I just think that. And it trounced coming in here is this person that wants to shake everything up then just be unpredictable and acting keeping Allen on just not really be talking to his base at. It's so interesting because apparently they have gotten along relatively well since he's come into office despite him being incredibly critical of Jenny Allen and the job that she did. Or has done as chairwoman of the Fed since she took office was five years ago. That is all the time we have for this hour of the financial exchange thank you very much for listening checks out of Tucker Stillman and Mike Armstrong filling in for Mary today will be right back from the financial exchange radio network. Planning for retirement is not an easy process there are many factors to consider such as contemplating how much money you'll need to enjoy your lifestyle there's also the concern about legacy planning and health care costs it's like planning a Thanksgiving dinner and not shopping for all the right ingredients this is very are strong and if you're close to retirement you need to get my brand new free guide called retirement readiness it's only available at my website Armstrong advisory group dot com this guide will answer any questions that you may have about the retirement process and it will include your very own retirement checklist seat can make sure that you're hitting all the right boxes this guide is available exclusively online so get it right now at Armstrong advisory group dot com that's 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. 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 8776917900. That's 8776917900. Or visit leader bank dot com. 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 traditional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Maverick DNC equal housing lender and number 449250. Subject to credit approval leader bank a step ahead 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 Don 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 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 security suffered securities America incorporated member of an SN BC and advisory service is up with the securities and. Guide to retirement planning it's really important that you do this before you retire. When I talk about two things that are critical aspects of retirement and that would be Social Security first and secondly Medicare it's your Medicare supplement programs in your Medicare part B program. You know let's talk a little bit about Social Security everyone knows that you've been paying in these programs really for most your lives if you've been working. But there are a lot of questions about when you should take Social Security in the first thing that you need to understand. Is a concept called full retirement age and that age differs depending on when you were born as an example. If you were born in 1942. Your sports harmony ages 65 years and ten months you're born in 57 it's 66 years in six months so you have to understand this as well as how your Social Security amount changes based on how long you wait. Right the other thing that you should do is take a look at our guide again again it's TV guide for retirement readiness exclusively available from Armstrong advisory group. But as it relates to Medicare. Each state we've listed on the in the guide each state and the web site that you go to for each state to calculate your Medicare program in which what's best for you. Yet differs depending on the different states and you really need to be cognizant of this when you're building your retirement plan. Well the folks again. Just to reiterate this guide is available exclusively from our strong advisory group it's called an investor's guide to retirement readiness. You can receive the guide by going to our web site. Armstrong advisory group dot com only available online Armstrong advisory group dot com. Go now Armstrong advisory group dot com. Securities offered to securities America incorporated members Jenrette SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 down silver and gold bullion coins are now available at all leader bank locations bank locally and buy your 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 back a step ahead. Planning for retirement can be a complicated process many factors need to be taken into account including how to protect dresses from probate and in order to make sure that your process goes as smoothly as possible the need to deal with an expert Todd let's keep a partner with the law firm of Cushing in Dolan and host of the legal exchange radio program has been helping listeners like you for thirty plus years he knows how to prepare your trust and keep your assets safe this month and has written a brand new guide called designing the perfect income only irrevocable trust. And it you'll learn about strategies to undertake what preparing your trust as well as specific language that must be included in order to protect your assets from probate this guide is available exclusively by visiting our website legal exchange showed dot com. That's right. The only way to get this guide is online so head illegal exchange showed dot com click on the guides and articles tab and download your guide that's legal exchange showed dot com legal exchange show dot com. 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 a leader bank's local underwriting and processing teams traditional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and the lowest number 44950. Subject current approval leader bank a step. 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. 15%. Annual percentage and no minimum balance and remember this product is only available on line so logon to leader dot com right now leader bank dot com a step ahead. And. This is the financial exchange with Barry Armstrong and chuck sound. You're exclusive look at business and financial news affecting your day your city. Your world and stay informed and up today to promote economic and market trends plus get breaking business news and every day. And now the financial exchange with the very Armstrong and chuck Exxon. The stock market struck all time highs on Friday largely fueled on speculation. That tax reform maybe a little bit closer after the senate. Passed a budget resolution clearing the way. War some chips and changes to the tax code today markets. Largely flat for the most part I doubt that 22 points the S&P. Literally completely flat the NASDAQ down fourteen. So. A mixed bag today and. And really you know the market does seem to be focusing a little bit more on earnings right now to think is a good thing overall that the folks saying you know little bit more on earnings and on some of these other things. Floating out there will be at least know the companies are going to report earnings net that's going to happen whether or not use your title is essentially it's it's generally good to see companies report earnings checks out in Mike Armstrong in bear out for the day here. And the our poll question the day up on financial exchange showed dot com is do you think tax reform is going to get done before the end of 2017. Tucker what the results so far. Wall with a quick refresher. Button here chuck. It will pull the poll question and Republican like you know 66% of our listeners think no. Tax reform will not pass by the end of the year and obviously 33% saying yes I'm a no as well as it that we are likely out in two. Of a set February of eighteen is one I think you get something so I think paragraph debates in a cup I think we're four months away right now. But I tend to agree I I don't think that we are going to get it now I think there. Is not enough time in the calendar how many days we have left to legislate I counted when I like dead including today act 128 the day's house. It's nice to know that our elected politicians at 28 out of 69 days they're going to be working for the rest this year it's always good to see. And so in the calendar gets shortened her it eat it gets tight in a hurry because of the recess is that you have through congress. And so there's not a lot of time that's why I'm saying hey it's gonna be 2018 when we finally see this still a little bit of Federal Reserve talk here. John Taylor. Famous for what he calls the Taylor rule which is a formula for setting interest rates based on a couple different economic variables. How would this affect the way that the Fed conducts biz. As to that well. So I think a lot about this day and I'm not necessary in favor of his equation but this would be really anxious right now. The Fed just Paisley has a chair governors and they vote on whether or not to raise interest rates based on a number of different things but. Not a formula and there's no exact formula to say OK if these three things happen. Then we will raise or lower rates. Therefore there's always constant conjecture and debate about what the Fed is going to do it's a big unknown. So what Taylor has come up with is a mathematical formula to say under these conditions. We will raise and lower rates making it completely forecast double as to what we're going to do. The result of which though would have been bats of rates would have gone negative during the Great Recession. And starting in on nine they would have begun climbing and to the point where there'd be twice as high as they are now. If if his rule had been in effect during the entire careers. So as though it seems to me that the effect would likely be that rates could be a little bit more volatile yeah in both directions yet I'm not directions united stables the Fed is historically kept them. Which I don't know if that's necessarily the best thing when you look at what you're trying to do with a curtsy you typically value stability more than anything else yet that part is true so I'm not necessarily saying that he's got the right equation with all of this yeah. But I do think if you had some sort of formulate equation where as an investor as a monitor of the US fiscal policy could monitor that equation sale OK I know where interest rates are going. And I can make deceit business decisions based on. I think that can be hugely beneficial to the Fed do that with their guidance though with their guidance that they that they can tell you hey look they they put out there dot plot a few times you were they say here's where we think rates are going to be date they tell you. Here's the expectation because things also change we got that. Yeah they do but again. That way we haven't locked in I really like the idea formula and yes you're right they do a pretty good job of forecasting Benton this would just take away all the conjecture about all the all the debate about what might not happen. Just put it all to a formula. It's interesting way to think of it I I personally I don't wanna be tied to for us because we know that sometimes. People can see what's coming were formula can opt for a rat talk about a predictive algorithm we're talking about something that says if unemployment is acts inflation is why yup here's what the raiders and we know that sometimes take when things look good at the moment you go back to you know the middle of 2007. Unemployment was low inflation was low. You said AME everything's great we don't need to do anything in hindsight we probably shouldn't. Yep and in so that's why am I'm has been on form of. Your record two guys are quick update on this Amazon headquarters in. So Amazon said today Antarctica how many they won the Antarctica how many proposals do you think these guys are received for the second it was aimed at 500 Jackson under serious proposals are. You go to your official numbers and 121000. Amazon set a Monday that it received 238. Proposals from cities in regions in 54 states provinces districts in territories. Around North America I wanted to go over just as I thought maybe like. Bob from southeast submitted a proposal under the snow and and you just wanna makes it involves included a turn 138 down. Expected announcement in the year two when he eighteen and apparently one Georgian towns America. Even said. You would re name the town Amazon I saw that if the company agreed to people that are I I do like that that's dedication that's really it really is you know. Amazon Massachusetts. Doesn't have a great ring to it now what Amazon prime Massachusetts. Our primary it would not just prime Massachusetts well like I think that's got a nice little I could even go you know prime Connecticut years I think union is on Georgia sounds better. No it doesn't sound worse I feel like the only stated actually fit to be like fla it's you know sort of games. Because a little sloppy the NFL. Obviously that they've struggled with ratings the last two years now down about 18% over the last two years by the way talker revenues theory as to why readings continued decline politician. In addition all of the hoopla about the National Anthem in this that as the fog. No one's good. Yeah like they're there are no good teams this year but I did you see like what was it like six teams this and didn't score offensive touchdowns the team with the best record in the league is the Philadelphia Eagles. Let it there's no one who's any good there's no team that you tune into watch. Yeah it's it's been a bad product this year than in the Thursday night game this past week it's been pre war that there's there's no one good that they the quality of play. I'm so it was garbage the quality of please abysmal right. Now last night I did kind of like that we got the other Madden will because of all the fog yeah I campers and those they had used these low cameras Norton tried actually shoot the game how miserable mustard if you bought you know 300 dollar tickets to this game yet couldn't see any of it from the second quarter I don't know if you were at the upper level you could you feel now all awful good. Yes so for business seven and a four teams feel the scorer area offensive touchdown yesterday but that that's a good post on a single day since 2001. It's nothing about that rule change that they've made it. What about. What is causing no one's any good it's just everyone's bad like this that there is not a good team out there there's there's no wonder you look at you say that's the teams so. The NFL continuing to struggle in the ratings here. But looking overseas to try to pick up some gross yesterday they seem specific in the UK they've seen 60% growth in the past year a lot of that being fueled obvious about the games played over there isn't. Twenty some odd teams will have played their by the end of by the end of the season. Yeah I wonder about the long term prospects for doing this it's one thing if you bring over a couple teams a year and have a couple games and so forth. I don't know if you could have teams permanently based overseas and get the interest that you want. Yeah I don't know either. Not the next five years at least why. Think how long it takes to build a fan basically what what apple and the chargers moved from San Diego LA they can't even Philip 20000 seat soccer state red that's what I mean illustrators gonna fold up those teams that wind on experiments and our house. I mean fewer than jaguars you haven't you haven't sold. Is sold at a stadium in however long it's been like how it hurt. I just who I look at it from the perspective of you want something that's going to be sustainable in the long and tried get doing a game in London just because you say hey we can get more people there. It needs it's like. Cocaine for the NFL it's like OK like he gives you a quick little boost but you can't do that for you can't just keep like sending your team to London. There's a link your players they're gonna breakdown meant to be it's not sustainable just from like a pure business standpoint eventually people are gonna say OK the novelties worn off. I think of it this and we you know the NHL used they're still does the the outdoor game every on New Year's. The first like five or six years it was wallet there's this outdoor game day in Elvis and it's like oh they're doing that again. That that's a thing as a novelty wears on now. I thought your CD huge issues with locating a team in line like obviously when you play your games and how do you do the traveling without really I like it fire ants perspective wake up and I have football on eight day debt and bring us but then. Look at the bridal Alda jaguars are 44 nothing which happened in London yeah I would like which happened and then yesterday woes and a 33 up and rams over the cardinals in London it's just that bad games there that I names it's just it's that kind of travel just wipes people out there that were received in the text you know. The protest deal aren't we don't issues on top of that the product is beyond the price the products good I think that it's actor. It's not a good product that is they're both factors that's where it is right now. Knew that Japan. President shoes oh I'll be winning another term with an election win here this comings down a little bit you know the last few years he had. Lost a lot of popularity but really the last year. He has surged a bit by really promoting some change the constitution. About defense you know he he wants to change the constitution and make it's that they really can't sustain a military mainly due North Korea. There's a significant threat there and that has really brought him back into office assuming he serves out his term he's into the long serving president the country ever. US dollar rallying a little bit compared to while the yen on this news just further expectation. That you may see a little bit of a weakening over there. Let's take a break and coming back we'll state international we're gonna talk a little bit more about the Spain and Catalonia crisis that is developing. And the world's gonna talk bad GM and what they are doing to try to battle Tesla. Pars autonomous vehicles goes that's coming up right after this break from the financial exchange radio network. Markets continue to fluctuate but we've John you covered get your daily update on what time and what's not from Mike Armstrong every morning at 1030 boldly on the financial exchange radio network. It's been an incredible year for stocks with the Dow NASDAQ and S&P all reaching high water marks yet in spite of this tremendous success there remains concern about a market correction hi this is very are strong inviting you to join me on Tuesday November 14 at Bertans grill in Burlington for special broadcast of the financial exchange followed by an educational lunch with the Armstrong advisory group will there be a correction if there is I'll help you prepare port to reserve your spot call 80393400. Once it joins the Armstrong advisory group and the voice of Boston AM 680 WRKO on Tuesday November 14 at Bertans grill in Burlington Bertans grill your life your style our food space is limited so call now 803934001. That's 803934001. 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. If you're in the market for a small business loan you need to call leader bank if your small business looking to expand or improve your infrastructure you need to take advantage of this great deal from leader bank for a limited time your business can get an SBA loan of three point 99 annual percentage rate with no closing costs on loans of up to 150000. Dollars and that is a for four years any democratic rating of 700 and give you an answer within ten days of receiving your completed application. This is the number you need to call 8776917900. That's 8776917900. Take advantage of this great offer from leader bank a four year fixed rate loan of three point 99 annual percentage rate with no closing costs on loans of up to 150000. Dollar and you'll hear from them within ten days of receiving your application at 8776917900. All right now 8776917900. Member FDIC. Planning for retirement is not an easy process there are many factors to consider such as contemplating how much money you'll need to enjoy your lifestyle there's also the concern about legacy planning and health care costs it's like planning a Thanksgiving dinner and not shopping for all the right ingredients this is very are strong and if you're. Close to retirement you need to get my brand new free guide called retirement readiness it's only available at my website Armstrong advisory group dot com this guide will answer any questions that you may have about the retirement process and it will include your very own retirement checklist seat can make sure that you're hitting all the right boxes this guide is available exclusively online so get it right now at Armstrong advisory group dot com that's Armstrong advisory group dot com. Securities are pretty 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 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 me one point 15%. Annual percentage yield this is an online product only and there is no minimum balance required so log on 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. Free online banking with leader banks in new east savings account that has a one point 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 rates subject to change without notice and may change after an account is opened. The financial exchanges live on FaceBook and YouTube watch Berrian chuck discuss the issues of the day and see which one smiles the most. Is who's the financial exchange radio network. This segment of the financial exchanges brought you by a leader bank with the leader banks Zuma rewards account. You get 1% cash back with debit purchases and an extra 10% back. When you use your card at featured businesses to qualify for these and other rewards call leader bank 877. 6917900. That's 8776917900. The crisis in Spain appears to be kind of reaching a point where we're gonna get some kind of resolution. If you're not familiar with what's going on the cattle and region Catalonia. Said a couple weeks go through referendum that they were going to. Withdraw from Spain. The referendum was poorly attended meaning that most people actually did not want to withdraw from Spain in the region. But. They're kind of in the netherworld right now where they're trying to say yeah we're gonna go through this withdrawal process but we don't know how to do his doesn't really exist so. What do we do. He had I really thought this is can be wrapped up by now I think this might drag out for a little while longer so. They had threatened to basically you know remove food and remove the panel on leader and I think invoked section 114 constitution which basically just put somebody else in charge of both. The government and the police force there it just keeps going back and forth. These kids and welter. Talent Barcelona they're aiming the cattle and invest the money if you withdraw. You don't have any relationship with the Euro zone. I don't think they're gonna negotiate with them Elliot it's not like abraxis rated that your economy isn't that big that you're going to be a to negotiate with the yours if you do go through the. Why is it that it seems like the only political move that we see these days is people take their ball and go home yeah it it seems like. People don't want to work out the issues they just wanna pretend that they don't exist and if they left the issues wouldn't beat. There we saw with brags and all of a sudden we talked last week about how you've got Goldman Sachs that exit saying hey we're gonna take 2000 jobs from Britain sent him out to Frankfurt. And you know double and all these other places. These these things have a real effect he did you can't just leave and say everything's good. After I don't know what I mean again it burst Lori you pay more taxes there and you know subsidize. Subsidize other parts of the country. Understood that you know if that happens everywhere radiating new York and Massachusetts real pay we more tech this year and subsidize cast you know states like West Virginia where that's that this. The agreement that you entering to win your partner a country like that's that's kind of how it works is there are certain people who. Unfortunately. Can end up in that situation it doesn't mean that you know you can't talk about okay. Do we unit are there ways that we can share the burden more evenly there ways that we can try to make sure that we're not paying everything here but. You can't just take your ball and go home it doesn't work like they pits you just hope we don't see that's this is not how works. GM is. This stock has been absolutely flying for. Really the last year and a half now today GM stock component the the most recent quote just so that I can see where they are as of right now they're 4547. Their 52 week range. Is from thirty dollars a share up to around 46 of the sock it is up the almost 50% year over year rate now. And these they seem to be getting ready. It's a really mount if full fledged assault on Tesla trying to roll out you know more electric vehicles and also. Building and some autonomous features. Yeah you know it would be truly. Incredible summer to come out here and compete with Tesla line. On this feature and GM does seem like at least they've got the production facilities real rate of Tesla is big issue right now that there. Hand making these cars and really struggling with him getting these mass produced. If you could see GM really roll this out and pushed Tesla a little bit. You know that would be. Debbie trillion presidency I wouldn't Pakistan to the main knock on GM is that is that it's it's been out of touch with the American consumer. At least that was the case you know back before the financial. And in the question I've had with Tesla is. What do they do it's truly proprietary. You know that the battery technology. Their play companies that can make bad OK and if GM wants do they can invest you billions of dollars and battery technology and they'd be able to you know pretty much do the same thing the tussle dogs. This what went when I look at where these companies have the potential to go. Tesla had a first mover advantage they were the first company with you know that premium electric vehicle okay we're gonna make it we're gonna make electric vehicle school. But until you get some kind of technology that no one else can duplicate. At the end of the day the big guys are gonna come in and say OK you do all the are indeed workforce now we're just gonna come in and make these more cheaply. It in and that's where I think you could see. Things going the next couple years Tesla. You know again that they had that first mover advantage they have Elon Musk who is at as exciting and as Smart of a CEO as there is out there from a technical perspective. But it's. At some point you have to actually. Turned your idea we have a profitable company. You do anything but what tests also has its mean they've got a very. High demand for I mean they've they've got a brand that I would consider to be on par with the Mercedes or BMW are now and GM doesn't have you know you don't. Comment on how gorgeous that GM registered on the street analysts. You don't but. When I take a look how many cars Mercedes-Benz cells as an example okay. Her Mercedes-Benz is selling hundreds of thousands of vehicles a year test was never done a hundred apps. Turn you know so it it I I look at what mercy he's been able to do when they've said. We can sell these vehicles year after year after year and people come back test hasn't proven. That they can maintain demand at higher figures in and they're saying look we want self 500000 of the model three year. There is no passenger vehicle aside for pickup trucks that sells 500000 vehicles a year. But you're you're trying to do something that has not been down there and so. I just I have real questions about tussle valuations still. And I think that if companies like alone I'd be the most short stuff out there and if companies like GM come in. And say look we're gonna produce you know vehicles that are as good and have the same kind of technology. It it's going to be a rude awakening for Tesla think they they have great vehicles there's no doubt. They have a great product but they've yet to become a great company because they can't prove they have yet to prove that what they're doing is sustainable and that's. That is really where the question is is whether or not you know they can keep this this train going. For the long and tough test of stock right now they sell what less than a 100000 vehicles a year. And the company is valued at 56 billion dollars where's GM is valued at 66 billion despite producing millions of vehicles the they get at something that. You cannot make a case that Tesla is fairly valid is purely an automotive company you have to be looking at it as a battery and electric company effective dips they have to excuse it's it's. There it is a lot of future built that's operas there certainly is coming up we're gonna talk about Hartford and the potential bankruptcy filing as well as the fallout. For city workers are for what could happen to them. Tune in right here on the financial exchange and really strange is alive on FaceBook so make sure to like your page and watched 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. Did 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 back a step ahead. Planning for retirement is not an easy process there are many factors to consider such as contemplating how much money you'll need to enjoy your lifestyle there's also the concern about legacy planning and health care costs it's like planning a Thanksgiving dinner and not shopping for all the right ingredients this is very are strong and if you're. Close to retirement you need to get my brand new free guide called retirement readiness it's only available at my website Armstrong advisory group dot com this guide will answer any questions that you may have about the retirement process and it will include your very own retirement checklist seat can make sure that you're hitting all the right boxes this guide is available exclusively online so get it right now at Armstrong advisory group dot com that's Armstrong advisory group dot com. That's right the only way to get this guide is online so head illegal exchange showed dot com click on the guides and articles tab and download your guide that's legal exchange showed does come. Legal exchange show dot com. This is a special announcement for a landlords chasing down only rent payments and making trips to the bank to deposit checks. 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So there several managers first and saying goodbye to being reliant on the use Postal Service. Goodnight to delays in the mail and no more need for paper check right. Where Israel and a lot of millennial Estonian have a check we're getting that all the time Elaine horrible call in and sign up because his tendon saying you didn't check the where this really starts to get on is we knew your land lowering you have. Multiple tenants living in unit grad students your university. Well right now they're all writing multiple checks and sending them in and in order source become confusing pain in the neck so would you read will do is it will actually deputy each tenant can individually. Matches in 101 payment unit the landlord. And then of course there are reports in ancient and electric stuff but going back to your. Question a Condo association's a lot of Condo associations have been using you aren't as well. Because the Condo payments that kind of the shirt to every month at the scene so they've been signing up and there's a version of the rent for condos. I'll be darned well sounds like a something that you need to learn more about folks visit. Z rent dot net to learn more that's a website address or call them at 8776917900. Toll free 8776917900. Why collect your rent or your Condo fees with paper checks. Get with the modern age go to easy rent dot net or call them toll free 8776917900. Markets are out. 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. The city of Hartford seems he's getting closer and closer to a bankruptcy filing. And might be that the capital Connecticut is getting to the point where they really don't seem to have a whole lot of reports aside from law filing. The next few weeks it looks like about him back in September they warned officials that they would deal paid bills in sixty days they got a little bit of money with the new budget. But it doesn't seem like it's going to be able to get them out of this massive deficit they have and yet like you said they've been downgraded by Moody's. It looks like it's gonna go that way and you know when this happens people that are impacted or the city workers I'd be really worried for her tired. City firefighter police officer. Or current employee about what's gonna happen with my pension. Yeah and in Europe clearly. It it's a major concern when you talk about oats. You know any any kind of municipal bankruptcy you know obviously here OK you know what's gonna do disrupt business and so forth. But the workers you know it's it's through no fault of their own. Did you end up in the situation there at the ones who you know decided that your receipt you know companies heading out of Hartford and you know it's a Massachusetts are Georgia and places like that. They're not the ones that you know picked up and moved. But largely. You more likely to see some significant pension cuts here and you go back to you take a look. At the case of Detroit okay in Detroit is they went through their bankruptcy. As a way to resolve that as part of the resolution of that bankruptcy process the pension checks that Dodd Detroit. Municipal workers received were reduced by about 7% depth and so that's you know you say okay upon collecting a pension that CO 40000 dollars ears about 3000 a month. All of a sudden you might only be getting 2800 a month so it's a couple hundred dollars a month out of your pocket. That you may end up in a scene there in this just using Detroit as an example could be more could be less I don't know. But these pensions are not necessarily a 100% safe if you go through bankruptcy. Now they're they're not a 100% saving yeah he could be in some situations here where that is the primary source of income right there might not be so security along with this Eminem and paying into it I gave this could just be. Hey you know I'm on a fixed income and it's going down by 7% in any fear what to do about that. Right it could be the only thing there what wanna talk a little bit about an event that we have coming up plot in just a few weeks right now. Lot of people out there asking Hayes a correction coming. You know are you ready for a correction in the event that it does happen. And so what we're doing is we are putting on an event at Bertans grill. In Middlesex commons in Burlington Massachusetts it's going to be happening on November 14. And what we're going to be doing is we're going to be broadcasting our show live from their starting at 10 AM rated Bertans grown Burlington. And we're gonna be broadcasting the show for two hours that we're going to be doing lunch afterwards and so the give me some food right after the show's over just to make sure that you well fed as well. Once again the event is that Bertans grill in Burlington in space is limited so make sure that you register and to do so. Call right now with 80393. 4001. That's 800. 393. 4001. Again it's on Tuesday November 14 and he can come out and watch the show starting at 10 AM and Annie get some food at a seminar afterwards as well. Your style. Bertans food is event will fill up quickly so call now 80393. 4001. That's 800. 39340. 01. Story that we found in CNBC today. And you know looking acts the threat of hacking India we talk about it all the time with businesses and obviously the Equifax story's been all over the news the last couple months here. But hackers appear to be targeting nations that the country's schools now because there's so much student data out there and oftentimes not very well protect. Yeah I mean it makes perfect sense that you think about some of these schools opened the the computer systems they're on the lack of safety around those it does not surprise me that it's you know a university system would have vary outdated protections for their students. It you know what do you do with that data Naomi most of our broken now but if you you know you hacking into MIT or Harvard's databases students instill that information you know. That that's that's very damaging to that school. On and some of it can be used almost as ransom in certain situations because you've got academic performance medical and discipline record so could be. Hey you know if if you don't you know give us what we're asking for. We're gonna tell people that you were suspended bird you know XY and Z in this year and it's you know it's those kinds of things are potentially risk in addition to just you know your basic information. Bobby and yet you basic information like Social Security numbers dates of birth addresses phone numbers all of that stuff which you know. Is very concerning to begin with and and all this additional information on top of that so if everyone's having to deal with this and it's just one organization after another advocate hits and I think it's just gonna continue. Talk a little bit about oil prices take a look right now oil's 5195. On the west Texas intermediate Brent crude is up to 5761. And largely this this. Why rise in oil prices from the mid forties up into the low fifties is happening simply because OPEC is. Largely complying with the terms of their production quotas. And also in the US you're seeing a little bit of a drop in the rig count after about a year and a half of rising rig number. You are it's surprising with OPEC you'd never see related compliance and I wonder if it's really that feeling at their habit cornered at this point. Day against the point where the US production has jumped up so much that I think. You might have a pack a little bit scared. Yeah it is well. Here is that thing what's what's interesting is OPEC if they wanted to in the short term it's still do whatever they want they say yep we're gonna produce four million less barrels day. Person go to 75 dollars overnight yep it won't stay there because the US rigs have proven. That they can spool up a little bit more quickly. Then we thought but certainly you know OPEC's got a vested interest in the long run of having oil prices high as possible okay. A barrel oil once it once it's out of the ground and once you sell. You can never sell again it's gone it's not something that you can recycle league eat it gets used and that's it so if you sell that barrel for 27 dollars a barrel. That's one less barreled you can sell for a hundred if you get prices up to there's some OPEC in the long run wants prices as high as possible I think there. They probably have somewhat of an existential crisis in the long run because we're probably not going to be using oil at the same rate. Forever we were seeing that is gradual development of electric vehicles and wall won't change overnight. Thirty to forty years now there's a good chance that while the world isn't going to necessarily be using the same kind of vehicles that we do that. Yeah I think they just made an historic few years mistakes when they let oil and get as high as it did in today it allowed North America to become a permanent big player in the oil market that probably would've never happen if he has kept at around sixty bucks a barrel. Probably true probably true. There is a plan from the trump administration for coal and nuclear power plants to. Effectively received new life today that is drawing some criticism from. Constant ever want but unlikely allies both environmental groups as well as oil groups saying well this doesn't make any. Cents AM so I mean we kind of expected this is going to come obviously law was talked about about the coal industry on the campaign trail. A little bit about the nuke industry but really what they're doing here is trying to proposed new rules. That would. Basically subsidize the nuke in the coal industry by putting in rules it's okay if you have. Was it ninety days of capacity on site in case of you know emergencies. You know hurricanes terrorist attacks that we could still produce power in those times of downed the power sources. And repaid more fear energy. And everyone's like this saying if you what you are completely. Altering the market here and getting away from free market economics. Well and so here's. Here's what's interesting is. The energy that the power industry be the you know you could utilities. And over the last fifty years has been a very good case to be made utilities need to be. Relatively highly regulated because if the power goes out people not yet we we know. And so we except I think a higher level of regulation in utilities then we see in many other industries. And there is a good point to be made that look if you have. You know natural gas pipelines and need to shut down as they did this year during hurricane harbor them and you can't get gas to where you needed. Potentially. All those natural gas power plants don't have access to the fuel they need in order you know to to produce power. By the same token look let's say Elvis and get a bunch of roads taken out railroads and you can't get cold where it needs to be yeah. A coal power plant doesn't do me any good if you can't get the cold where it needs to be either so or there's an earthquake then your new power plant goes off if an aide. Adam did argument doesn't seem to an apple and here's the thing if your concern is getting you know fuel to where it's needed in times of emergency then why did he say okay. Regardless of what facility you're running. The government will pay for a reserve on site of whatever your fuel is that would seem to make more sense and be more based on. You know kind of what the market dictates as opposed to what we want to reward coal plants just for being coal plants. You know if you say hey look we're concerned about you know energy security great I am too because I do think they're disruptions that are potentially damaging. But the solution isn't pick and choose winners and losers take. Let's make sure that everyone has ample supplies as back up and we can subsidize everyone equally to make sure that we're not you know without power for two and. I would much prefer new battery technology I would access coal production what I love about this story and a few others that we've seen this year is just the flip flopping that there seems to be across the board you have Democrats. Arguing for free market economies wall Rick Perry. Is arguing for you know massive subsidies only has he got a generation now. What has the principle it's you know it's it's it's always amazing to see because now all of a sudden you've got Democrats saying well you can't raise the deficits like where were you five years ago hit it like it would media cameras deficit you're perfectly happy to five years ago now you don't wanna raise the deficit I don't get what's what's. It's just that they're there are no principles anymore it's pretty much you know how how united score campaign points as easily as possible. Let's take a quick break in on the other side. Tim Stephens from Sina road shows get enjoys talking about 2018. BMW I it is one of the best looking vehicles and I've seen the price tag. But we're still going to be digging into that with him right after this break on the financial exchange radio network. The financial exchange with Barry and chuck is alive on FaceBook and YouTube every morning beginning at ten days is the financial exchange radio network many of you who've listened to drug Penske for years on the legal exchange radio program are probably outer near retirement age and if you're one of his core listeners he now always an expert in elder law and estate planning if you been thinking about starting new state planning process or are just under way you want your trust documents to be prepared properly so that your acids are protected from the nursing home. It takes five years to secure that protection and you need to make sure that you aren't wasting your time in your money and legal documents that don't work. This month Todd has written a brand new guide called designing the perfect income only irrevocable trust they contained the specific language that must be included in your trust in order to protect your assets from probate this guide is available exclusively. 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Retirement it's something we all think about and all of us looked forward to it after many years of hard work but are you ready for mentally perhaps but there's much more planning required if you wanna rest easy in your later years hi this is very are strong and this month my firm the Armstrong advisory group is offering a brand new guide called retirement readiness unit you'll find information they can help educate you on what steps to take to enjoy a safe and prosperous retirement such as how much money you'll need to maintain your standard of living and don't forget about health care costs and tax considerations it's all in this brand new guide which includes your own retirement readiness checklist you can get the guide by going to our web site Armstrong advisory group dot com that's Armstrong advisory group dot com learned today so you can plan for tomorrow download the guide right now at Armstrong advisory group dot com. Juries 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 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 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 change get free online banking with leader banks in new east savings account that has a one point 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 through securities America into members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Vote on our daily poll question had financial exchange show dot com while you're there fire of the media player and watch the show while you work. This is the financial exchange radio network. Yeah. Tim Stephens from CNET roadshow joins us now to talk about the 2018 BMW IE and Tim. You know sometimes we have beyond we talk about you know the Honda Civic sometimes we talk about you know the Subaru Impreza. They were talking about something that's impractical but it looks like an awful lot of on what's your take on the IE eight overall. Wrote on the can be a little bit less practical today but ultimately pretty interesting because this is BMWs to take on basically a hybrid sports car it's kind of an interesting idea they've got a really small gasoline engine in their just a one point five liter turbocharged three cylinder. The combined live and all to cartridges about an hour and forty horsepower pretty impressive for car beside. The two seater is got a great looking going door and beautiful spelling it really looks like the concept car for the road. Pretty interesting car but but it early expensive to look this morning about a 140000 dollar in the door on its. So it's not reasonable for most folks but that won't stop us from talking about how does that actually perform when you get it out on the world. It was a pretty well it's got acceleration on par we've. Quicker sports cars on the road and like maybe it's super divert antioxidant like that not quite for a territory or exotic cars like that. But it pretty quick and concern effected the EPA rated at about seventy miles per gallon. That's a pretty impressive combination you'll have back a performance but also have that kind of fuel economy as well. That's really what BMW trying to play it would Utica or make you rethink what the sports car should be how should drive how much he'll. The comedy combination delivers well. In addition to the performance what are you get as far as you know bells and whistles. Either you know inside in the interior anything else related to the car. Well this is a BMW has been quite a bit of technology on the entry UWW I drive technologies we've basically got a really nice. Interface for getting at everything that's been there you've also got to review cameras and everything else like that Hugh puts a very futuristic interior very low long. And really high tech a lot of great lighting and site as well and really personal level as well BMW has been numbered Christmas Haitians that you go through. They completely changed the look and you'll be incher that makes a pretty interesting or cargoes. But there's lacking some stuff like adaptive cruise for example of the things that we would like this deal are the. How many of these odds are they make is this a limited Raun nor is this a vehicle that they're producing and in high numbers. They simply producing. And enough car to meet demand the demand is pretty of those you can expect on a car despite it sold about 101000 these cars so far since it went on still in the mid between fourteen. Other guy a new version convert over in coming up soon so I think that should help boost sales but still pretty low volume car economics prize mr. McCaw. What cars does this compete with most directly. Especially a little bit hard to find direct competition here a lot of people would step into the DW I ate from a higher end version of it as a model that's for example. There's a lot of people would this much money to spend maybe they don't wanna get the same car that everybody else as of right now the my elections this certainly pretty common it's certainly in California. Also compare that to something like be accurate and I sect which starts a little bit higher but I 150000 dollars. The that you integrate high performance hybrid car that an offering even greater performance or a little bit more money. Is the car worth the money if if you happen OK the at the average person obviously isn't gonna go out by a 140000 dollar car but if we have the money. Is it worth the. It is definitely a bit of a tough sell I think for me yet the costs again but it really close to be accurate and SX which is a much quicker car ultimately you know much more engaging car to drive. But if you are thinking about hiring version of the as a model let's I think that's the pretty appealing alternative began because it is so much more distinctive looking at so much more engaging drive. I'd still get fifteen miles of all electric range but not LG getting a pretty good amount of eco friendliness. Without actually carrying the ad the same did. Bland as a mullet style I mean not everybody. Good Tim thank you very much of the time orchids over the next week. Thank you Tim Stephens from CNET roach of talking about the 2018 BMW IEA. I'm not get one. I don't think they even lets you index cards via. Yeah I think if you let the sales up it might take one look at any any three of us and say that start ups doesn't pull my accord equipment but what we need to go a mile at least goes for technologies. When he 500 a month this fast that you got to take got a mortgage supplies. As beautiful well. Degree aren't to great looking car jet dot com Ian its bid to try to compete with. Amazon jet dot com was ball by Wal-Mart early years years you may know just dot com is launching its own private label business. Yeah I mean they're trying to compete with these other nations I don't really get when I'm looking for private label brand I want you to I want cheap that's all I want. Because I wanted to be cheaper than the main competitors out there and if you're just gonna trance only counts up and good looking war. It's it's just not gonna do it form says what kind of jet it seems like this what jets going after. One of the descriptions was they do lemon time days of cleaning wipes itself for five dollars and 37 cents but what is. Clementine diesel cleaning wipes and you were yelling I don't know. Do you eat them white stuff like you wipe them and and eat them because they taste good Knoll. If you're going to be Wal-Mart a boat closely flavor like that it sounds delicious all I love beating pledge struck out lemon pledge and the jets trying to. Just completely divert away from Wal-Mart and just kind of create its own name which it seems like the way that trying to go but if the front lines at the Ballmer I just want to be cheap at all. They're focusing on quote metro millennium goals. Organic teriyaki sauce too when you teriyaki sauce don't want lake. The crappy is teriyaki sauce you can buy like it tastes better when it's worse. Depends on the greeted the news that's for product again. It just I don't know lake I don't want late box designs in this in that lake. What's the point that at like what what value do I get out of like the good looking box once I use it's done. They don't spend money out of the don't gonna throw away. It's great if you can create your own branded toilet paper coffee and monitor it but as good as the others and cheaper than. Hats off no it I'll buy this is this is one of my pet peeves is when someone goes in as we say okay you know. Yeah I don't go to the store and likely next a comeback I've bought Kleenex and Elvis and his alleged by that color. We want to buy that where like you're at the box looks like trust and told us and I know it's all this. Handed down this road before you care one way and that's all the time that we have for the showed today thank you very much for listening. For Tucker still Mike Armstrong and Chuck Todd you've been listening. The financial exchange from the financial exchange radio network.
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