Full Show 9 - 18 - 17

Full Show 9 - 18 - 17 by The Financial Exchange

01:46:33

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

This is the financial exchange with the very Armstrong and chunks of you're exclusive look at business and financial news affecting your day your city 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. You have been hacked and there's not one heck of a lot that you can do about it Wall Street Journal reporting that on March 8. Researchers at Cisco systems incorporated. Reported an online security flaw that allowed hackers to break into servers. Around the Internet Cisco urged users to upgrade their systems immediately. With a newly issued fixed everybody it's Berrian chuck so. Cisco knew of this. On March 8. Equifax. Who is one of the largest holders of personal financial information in the world. Didn't decide to act on it until the end of July. No they they thought they had acted on what they thought they had they they they believe that they had acted on it and they believe that they had patched all of their systems and in fact they had and so there were some systems that they did not actually patched. In and unfortunately due to that they ended up with these hackers rover around in their systems for about eight weeks when it was all said and that's of knees and. Absolutely. Remarkable you would think that for a company like Equifax or company like fidelity for instance the local company. That they would be spending just in inordinate amount of resources on protecting that information. Most companies spend for a lesson nation on security now moat. For most companies it is a necessary evil rather than something they take pride and well and you know why because it's and it it doesn't improve productivity does. Know that the problem is that. I like to think of security IT security it's kind of what the punter on a football team you never notice it unless something goes wrong right and so because that. Companies don't spend a whole lot on it they say hey we can get away with yeah we've got ninety guy yeah we've got department handles that they're taking care Britain and most of the time. Nothing like this happens because that is the truth is that 99.9 percent of the time you don't have something like this happening. The problem is this is the worst case scenario because you have a 143 million people now have their information exposed. And it's not just things like email address is it's not being as. Late got a credit card number that you can change it to birdies your date of birth your Social Security number your address your full name your banking history all of the information that someone needs to pretend that there are you now and so. 'cause of that. Unfortunately now you're in the situation we've had almost twelve million people who've applied for credit monitoring and numbers of people have applied to have their credit frozen I don't know what that number is in DC and at least I haven't seen it yet Arabs they keep stats but I on sure they do I'm sure they don't want it getting out just how many people frozen credit. Well I mean eight that still as we sit here on Monday. In where now all week and a half after that the announcement deaths. It's still from what I've seen track it's really the only foolproof method of making sure you don't get her to freeze the freeze it is. It is in. And it's I know people that all kinds of trouble even over the weekend people were having trouble still giving out my sites and getting through on phone calls I talked to a woman on Saturday. Angie Nelson DE GG Jews literally panic stricken. Because she was able to freeze her credit with Experian and Trans Union Oka and she goes to Equifax to freeze your credit. And they didn't recognize her Social Security number of seeing a lot of people that's happened to those you imagine NBA that's. That is there that the U wanted to see evidence that you're packed. Where does that doesn't necessarily mean anything you don't think so no there's all my crap I know enough trust trust me the these systems are crappy. It is terrible it's terrible to think that don't change your Social Security numbers Mikey when you're hacked to Social Security doesn't and number does it change it it just the there's systems are not good you know nine it evidently. And then now over the weekend to top Equifax executives. Announced that they're going to retire quote retiring is the term they used for I I view this as they're trying to get out of the way of the train before it comes down the run the track well let's let's talk about who was 11 was the chief information officer. Right kind of big deal to company that specializes in in information via that said David Webb. And then Susan Malden the company's chief security oh interesting. So both retiring the both quote retiring. I would imagine they didn't have a whole lot of Satan in this retirement and I don't know it's going to be the most peaceful retirement for the two of them I would imagine they're gonna be called up some congressional testimony over the next couple months. And depending on what ends of being found. Again this is the kind of thing where you would hope that you end up seeing charges pressed against executives. Well letter if there's any laws on the books that would allow port. It again don't know but I mean you can clearly like claim negligence here now like even if it's a civil suit right you know somebody you'd there I think. Though you're right ankle spent significant amount of time in court. I don't know if you heard but there's another hurricane headed towards Puerto Rico in name of the hurricane is Maria. And it looks like it's going to be a doozy and we talk about that because are still picking up the tab for Florida Georgia and Texas. Total damage estimates are what about a 150 billion dollars some. In the ballpark of vol 150 can be a little less could be a little more but that's what the estimates are. And now that the damages you know not not been assessed completely but we have a pretty good idea of what is out there as far as damage. And so obviously that that's a huge sum of money. Okay you talk about a 150 billion dollars equivalent to about 1% of US GDP yeah so it's it's a big chunk of change that you're talking about there. That needs to be found one way or another some is gonna come from insurance some is gonna come from. People's own pockets some come from federal and state aid but all in all. That's the sun it's needed in order to put everything back together. In Florida only 18% track of homeowners are insured for flood damage. Not good. These seats of the new balls in the other video pizza. If it's if I'm still surprised that the the death poll in the Caribbean. Was higher because that's where that storm when you know you were coming through with 17080. Mile an hour winds there. And some of the pictures that you've seen afterwards your eye on that which plot. Made Maria is is gonna hit it the peak of the storm. Is on my favorite island Annette sykora. And they're gonna bear the brunt of that when that on mostly coming through there Wednesday so I'm a little bit on pins and needles on Wednesday rules I hope you'll understand. Whose inquiries and it did it on Wednesday. Puerto Rico get him on Wednesday. And it's in the eye of the storm is just head right towards it and it's gonna hit the bad part reporter is it's how hard the winds on non Maria at this point in the ninety's. So Chad towards waters so could be picking up a little bit of expected to be. In swing hits Puerto Rico could be ties 150. And that can do an awful lot you get above 12120s. Would effort is generally the threshold where in the end have. Even well up. Actually I will beat the houses that have been built since. You know the 1990s are in pretty good shape in the years the newer construction with all the new hurricane codes numbers and I'll find out. Because I don't want those and we'll see how it holds that it's developing into a superstar Maria if you if you track it. And you want to a look at it is it's headed. In just a terrible older direction saint Kitts is gonna get hit Antigua Barbuda. Guadalupe Dominica Martinique Saint Lucia. You know news saint Maarten saint Croix Saint John virgin gore go all the media guy. Are right in the path again and the damage they're still they're still reeling. From the hurricane couple weeks days they still have electricity Giuliani's it's gonna take months to get all all the utilities back for a lot of those places just as they don't of the infrastructure that you do in the US in sync for a didn't get hit that last one. So it's been serving as the hub. For the other islands yeah you know the they've been sending in transport planes there is it's less damaged. It's inquiries goes down. They're gonna have a real problem getting any candidate they're actually trying now. The airlines are opening up a lot of flights to get people off of the island is that right yeah I just trying to get people out of the past one of the senators down their email this morning in the they're looking for people. Up off the to get people especially the elderly you know is they had a lot of problems sure the elder elderly. Prob is people of the hour ago. Now in the pork days are likely to sell go to Baltimore because that guy. And we are they can't spend 200 dollars on a plane to try and it's more than two right here you hear far away. Pittsburgh's self driving car boom means 200000 dollar pay packages. Warp robotics grads guys tell your grandchildren and your children to change their college major. Got into the wrong business yet this is directly out of college kids making 200000. Dollars as you have a number of companies trying to or robotics majors. Again who might only be 2122 years on some cases remain on even finished college they just to have incredible skills. In this area and what you're seeing is a bunch of hiring by company called Argo AI which is partly owned and majority. Owned by Ford. As wells a start up called a roar innovation. In both these companies focus on self driving car development. And both of them are down in that Pittsburgh area because Carnegie Mellon has one of the best actually be best in robotics program on the planet. Does this give Pittsburgh the lead in the Amazon battle. Well that's interesting because and thinking zealous of spending any money there. No but it just it it strikes me is a pretty convenient four. It could be it it certainly could be you know in obviously. That there's a ton of robotics talent there. But I don't know if it has the depth. That some of the other cities that we've discussed do and and that's the the question because you think of Pittsburgh is an industrial town it's not anymore. Oh it's it's high tech at this point I mean that's that's what it's turned and I've never been that you know you think is the Steelers and steelworkers back in the seventies and coal miners and boy that that area that region of Pennsylvania has changed dramatically it's Biotech its technology. Advanced education and they went through some trouble obviously in the eighty's and ninety's as they were dealing with that transition. But they've come out on the other side it and it's a city that is doing phenomenally well at this point because they have successfully. Been able to learn the kinds of industries that are needed in today's economy. Up next shocks going to be talking to Chester Dawson about vote. Hackable cars in your car be hacked managing your driving down the highway. And somebody hacks into your card takes over your vehicle like you're trying to drive it sixty miles an hour that's our next topic. From the financial exchange radio network. Even without health care or tax reform all three major indices remain near record highs get the latest info on the sectors that are winning and those that are brakes here we Berrian just on the financial exchange radio network. If you worked hard and had success in your professional life protecting your wealth and your assets is essential to your ability to enjoy your later years advanced estate planning as many benefits and if you're like me you should want some sound advice on the best way to set up your state is very Armstrong and if you're in need of a state planning council or perhaps you just want to take a second look at your existing plan you should call and at 8668485699. And asked for their brand new guide called back to the basics lets host of the legal exchange radio program will educate you on the basics of creating your state plan including how to avoid probate and estate tax reduction call 8668485699. To get your free guide today the law firm of and has been helping families protect their assets for more than thirty years let them help your family call now for your free copy of back to the basics at 8668485699. You can also download the guide by logging on to legal exchange showed dot com. 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 bank is offering in east savings account providing free online banking with a one point 15%. 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Yes you know we we see a lot of first time homebuyers who are making 51015. Offers two for fighting house now and offers except it's extremely. Okay. And so they have to temper their expectations. Oftentimes they're they're paying more than the other half do you. Paying more than the asking price and a yeah it is quite common right now in and in some cases they're actually having to to research other towns and rooted in considered first because. You know it's very campaign can't afford their dream home exactly. I'm getting we're telling first time homebuyers to really be aware. Of all the mortgage products that are out there that are relevant to tell us about this leaders thirty yes so we're really excited about this product we just launched it is called leaders thirty. And essentially what it is is that fixed rate loan. Where if you sign up to pay your mortgage automatically electronically that everybody does for the first year. You get to lower your interest repayment by 1% that's very helpful offer because when it does is it gives you break during that first twelve month period exactly so gives you little payment relief for your moving expenses but you still have the security of a fixed rate mortgage. When I bot. A hole in one I've refinance my properties have always use liter bank there are terrific bank you can call them told free. At 8776917. B 900 or visit them online at leader bank dot com to learn about their mortgage programs. 8776917900. Liter bank back on. I like talking to a person face to face him a call 87769179. Country. Security suffered two securities America and members finreg SIPC an advisory services arbiters securities America advisors think Barry Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated. Get the most comprehensive weekly economic update from CNBC senior contributor Larry Kudlow every Friday at 1045. Only here on the financial exchange radio network. North Korea's continued missile tests could boost Honeywell's defense business this according to executive chairman David Cook today. He said on the sidelines of the Singapore some. There what he said was and I quote we fully expect North Korea will help the defense side of our business because Japan South Korea and others. We're gonna wanna protect themselves and be a lot more careful so. Clearly signaling that they do expect that despite the situation over North Korea. And actually lead to some additional business for them. From some of their businesses that are more defense oriented you know going to be instinct is that stock moving an alternate. I can take a look did the defense sector accounts for about 8% of Honeywell's business overall. Honeywell's actually down a little bit today down about three quarters of 1% right now so. Not picking anything up today on this news or on this statement. But obviously company that's that's been on a really nice run over the course of this year it's gone from. About a 115 dollars a share up to 138 so it's been a nice run for them up 19% outpacing the market by about 10% right now just watch the Emmys last night at all. No. No no we as Sunday Night Football yup. And that football and and bad yep we're played football and up who played. Packers falcons good game and your game who won. Falcons ended up winning by what two touchdowns I think yes falcons look ridiculous out falcons look good to know now a few new stadium to looks gorgeous. Anyway Hulu. Pulled something off that Netflix has never been able to do at the Emmys they won the award for the best drama series yep best drama went to the hand maid's tale. And also the hand maid's tale also took home lead actress supporting actress and best directing in a drama series as well what is it about gave many no way hand made him I'd. I don't Tim do you have any idea I've never heard of it I've I've heard it's very good I I didn't want when bill today that that's something they can hang their hat it is I mean this is equivalent to what was the one the big when the Amazon had that one hold on stuff couple years it was transparent that won those orders is the new black ones so that was there was Netflix fought Cranston won something right or Amazon did you set yet Amazon wants something big a couple years ago they won best drama for something I can't remember what was. But Netflix has had over 200 Emmy nominations right now they still have not been able. To take home that that. Critical one for best drama that's kind of the gold standard for the Emmys I guess. And they still not been able to take that home to this point so Netflix has a ton of content at that they can to get nominated for all these things. And they're producing content at the fastest rate yet in the in the way I look at with which content out there now like. I don't know if he's a in his marriage though so much of it is just bad. And over it's always like that. It's just previously those things never would have been made. Right you know appears that the violate. When it would it used to be with just you know your big force CBS fox NBC and ABC it was okay we can take maybe two or three new shows for each of those to get maybe twelve new shows a year yeah. Everything else gets kicked on the lake basic cable and unlike true TV here this is. Today it's. A look at you got content grateful to the road at the wall and see what sticks in I was up in that business it is so you've joined up with the whole bunch of crap that's just not good at all if you're talented screenwriter. President equipment at a good time for I mean again people are just buying up all any any yeah anything that's out there in terms of whether it's. Standalone movies whether it's in history Maria scripts for TV shows all which is getting all operate. PH and see who gets a pick up because they don't have much the way subscribers and as a last still relatively small and they ear there fraction like I think. Let me be east. Of Netflix and I still think the biggest challenge for them is dealing with the structure that they have because anything that is a really good high quality content. The networks are gonna wanna keep themselves they wanna share with the competition. Even though they are the content right. Amid deal appeal aid crisis insurance companies are restricting. Less addictive but for each year painkillers I didn't notice Everett today. And you know we talked about. The open your crisis and as if there's no potential solution to customers. Yeah and in what's it accidents. What's interesting here is that a number of these plans and you know even if you're looking Medicare prescription drug plans where you see a lot of these being used a lot of them have access to a lot of these cheaper prescription or not cheaper but safer prescription drug options. That do happen to be much more expensive now here's here's what's interesting is if you are a health insurance company. There's no incentive for you to necessarily cover that drug or recommend that drawn in any situation just because you don't make anymore. Okay in fact it might actually race and your overhead cost because there's more administrative work best be done. If you are looking overall health care costs in the country though. It's something that might actually be able to bring those costs down because her at the cost of dealing with someone who develops an addiction glee is far higher in the long do you think about what it cost error I don't know of the number but it but it's ten granderson to but he recap for a month. Well and beyond that let's say that you end up being an IV drug user you Pepsi. Magic you know we know the cost of treating hips he deserves that like 10000000 dollars or if you need a liver transplant or some coy about it talking half a million dollars I mean. I look at this and say. Look if you have to spend the next couple hundred bucks a month as opposed to spending thirty bucks a month one it is quite a bit more it it's ten times more expensive in some cases but if you used more. The price would come down. So might be more expensive in the short term right but we're losing we're at 50000 people die from heroin addiction issue. Yup it's it's a case of you robbing Peter to pay Paul it's a look bracken papered up from what you pay for it. Ten times over on the back and sure do in the future. On I guess Suffolk downs is the key site in terms in and in the heat. In terms of landing Amazon it's really. I know you identified a couple of other sites potentially this one was in Somerville right is always in Somerville there were couple down towards the Dorchester area still which is still urban Boston. But Suffolk downs appears to be getting the the lead in the bid for Amazon. It appears that city and state officials are kind of focusing on that area right now but already prepped. It is and it it it's as if Johnny had a series also to 161 acres Amazon's looking for somewhere around a hundred so they can do that still. Have plenty of space left over for housing retail and all the other things that go along with there's going to be a need for a lot of infrastructure we'll talk more about where Amazon might go if they moved to Boston from the financial exchange again. Making your Smartphone even smaller here. Don't know mobile lab by surging financial exchange shelf in iTunes or those who. Who played stores this is the financial exchange radio network. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of rent day with zero and leader banks all mine rent collection tool he went automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more we see rent your payments for each unit received regularly on the same day every month tenants pay nothing in the first six months or free throw landlords visit WWW he ran meant to learn more or call 7816418691. 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Or visit leader bank dot com member FDIC's equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. And now Fort Mill street watch a look at the market's performance so far today until Berrian jog right here on the financial exchange radio network. Michael Armstrong is with us for Wall Street watch. Getting up to date on the biggest stories moving the market today. Mike let's talk about what's going on with orbital ATK it looks like they are being acquired. They are yes so what this deal follows another similar deal that Rockwell Collins acquisition by UT action looks reduce their best consolidation going on in his defense and aerospace industry. To be acquired by Northrop Grumman for nine point two billion dollars in cash and debt that's at 22% premium often Wear closed. On Friday at or relate TK. To assemble a lay it out. 22 dollar 65 cents or twenty point 58% and in this case where it usually you see the acquire stopped a commitment yet. North of ground and has also up that's four dollars or one half percent so. That deal move in the market again this morning following the the best market performance that we seen so far 2017 last week so. Continued. Strongest for the overall market. Very good thank you very much Mike. That is Mike Armstrong with Wall Street watch. So in talking about Suffolk downs that recently was purchased. You retirement Suffolk downs being a potential site for Amazon. To 161 acres. Is it's got two stops on the tee and it's not far from Logan Airport that was a big. Big big issue right they they wanted to close to a solid international airport. They they do by I have some questions about. The accessibility and availability of public transportation there okay and you mention that they are on the T they are on the Blue Line. Okay in the Blue Line does not really connect easily with a lot of the the rest of the system. It connects to the Orange Line it connects the green like it does not connected alt the rebel. Okay which would that means that if you are in Cambridge OK and you want to and you want to stay in Cambridge and work for Amazon over in the Suffolk downs and you've to switch trains twice at a minimum to get there. If you are on the South Shore okay anywhere from Braintree all the way over to madam candidate again like that you have to switch trains. Twice once again in order to get there so. The Blue Line. It is not ideal now what you could do okay and what I'd love to see done. Does say we're gonna have all this extra tax revenue coming in and from. All of you know Amazon's it if Amazon picks you up all this extra tax revenue. He says look. Remark a whole bunch that. What we're gonna do we're gonna extend the Blue Line down through South Boston which we know needs public transportation badly with all the construction that's going on there. We take you down through South Boston we're gonna link up with the Red Line over JFK. At via JFK library at all and he says OK now all of a sudden you've got to connected all three lines okay. Policy take care of getting the the seaport connected via rail and and all of a sudden sickness and they would dunce of the pretty good yourself this this is what we mean when we say hey what do for the airport. In in what way you used terms of making it easier for public transportation so here's the other thing is you need to extend the Blue Line to actually go to the individual terminals. Never going to happen no big day there's simply isn't the space in the in the ability to do so any kind of reasonable cost. And this is one of the biggest problems that Logan has yet. Is there is no. Rail line that goes right into the airport even a stop on the Blue Line that says airport you get off there in the after the shuttle from there over to the terminals where you know. If you go to. Chicago if you fly into O'Hare but here's a miserable airport. But the rail line connects you right into the city don't have to deal with traffic all declined to Philly. Philly again miserable airport but there's railroad connects you right into the city right at the airport at. Boston doesn't have that in that that hurts and it also adds ton of traffic right right and put attracted and that's that's well. Always been a problem. Serbia where not not trivia which are about leader bank. Leader bank has reopened. There EU savings account that has a one point 15%. Annual percentage yield one point 15%. You're only open the accounts online somebody asked me the other day they said when it's pretty good rate as the death DIC insured the answer is yes leader bank. Count. That you one point 15% it's a liquid account you'll need ten dollars to open and up an account it is in fact. FDIC. Insured. To learn more about it if you have a question you can call them that you really don't need to call me go to the website leader bank dot com. The wet the phone number is 8776917. B 900 you can't go to a branch they'll open the count I know many of you have done night so I just go to the buried in Arlington you know I can't do you have to. Do it online. Its leader bank dot com. But the yield is one point 15%. These could reduce your earnings rate subject to change without notice and may change after an account is open. Creative way for people to buy a house what you don't what are the issues that I hear when I talked to millennial. Is that. Well I'd I don't have the money for down payment. In terms of buying a house guilty of it you know I've I've saddled with student loan better. I don't make that much money and time I've been unable to save for a house after four years of working. This new program. Coming up it's a down payment with a catch. Yeah aids is run by a woman by the name of you fond Jiang. And it's called a lofty. Now okay in what she does is she says look I will lend you our company will lend you up to 50000 dollars for a down payment. But you're gonna sign a contract that states that for the first one to three years depending on the size of the down payment in the market. You are going to be required. To rent out one or more rooms of your house on air B&B. And pay me back using the revenue. That you generate from because the Lothian is gonna collect the bulk of the rest exactly so pretty much what it does is it says look. We are giving you an alternate path to down payment we know you don't have the money right now yup oh we want you to do is we wanna turn part of your house into rental for a little bit so you're gonna live there. And you're going to say okay were available for short term rentals for the next one to three years what do you think your friends and think about this I think there's some who would do and I think there are. There are a lot of people who wouldn't do so you know I would. Really like it let's say your you're you're paying your couple what's what's a young couple paying for rents to live you know in the cities for it to bed. You know 12 bedroom was going to be duke have another room to rent out. No I'm just thinking though what are they paying in rent now probably depending on where you are in the city anywhere between 2404000. Act like you're only gradually so if your pain is they paid 3000 average probably right around I can understand why that couple might have difficulty. Saving up and down pay X you've got that and all of us in the twenties got student loans you paying 3400 a month on those old. Korea or anything else you've got 4000 dollars going out the door he might have a car payment you know so. You you haven't been able to save up a down payment yet this company lofty and we should post this now is in the debate people that are etched it on in Boston rates on doing and it's it's select cities know it's it's in Seattle and they're looking to branch at Chicago Denver and Raleigh, North Carolina in the next year like I got its idea they would a creative idea. For. Younger I I think it's going to be young cup I think is is something your generation's gonna take him out I don't know five I don't know if you can see couples do owns real. Think about imagine that you win you win you or whether it's you know wife or boyfriend girlfriend wants to have my place. You typically do that to get away from people you're not doing it's that you rent out rooms and when you don't even know now. And again Tony six years old. And but they worked it hard to how many couples live with someone else with trip to the opera elective put up with it for three years. Have you ever tried to live with someone you don't like for three years. Haven't have like big. Think about how quickly like you can just in a week if you have literally in there at the air B&B the only comfort nighter to collect their movement in you know to see. So it yet on what is what you get too bad people over you know lake again as airborne in the air green and beat says that pretty good tenants because they get bad reviews and then they're not allowed to rent what they they may be good tennis but that does mean you wanna live with them they might take good care of the place when you're gone. But it against him help me out here eerie eerie you eat deal Omaha house arrest you rent so is this open. That you would consider is as method of saintly you know. Otherwise you're not getting to become a hole you know is it is that's up your your buddies in new would take advantage of Agassi muscle to Angela you know just would you do with the girlfriend of boy late if you're living with like a spouts. What to do it that's what I think more so than you think so. Probably am I correct EC trickier and a different perspective because you already you'll please write I'm thinking about the and I. Just think it's some your buddies went to college with that still dull old hole I know I wouldn't want to live with them. And these are my friends and I don't wanna live with nobody there if you just don't like difference. Yeah bloated and out of it true that bill yet your your what you're gonna keep got a lot of friends that don't replace it. I think about my kids that don't know places. I I could see them. Because it's like having another job it's you know it is it's part time job because of your being near B addiction that you got to live with salt Lake Bell toll for nighter to. In and then they leave. All saying is there are a lot of people that I would not want to live with for nighter to now up. Look it you know what the if you have no choice you know chuck chuck it and sit back and say you know. I I I don't wanna do it but he old's place Tim on the other house hand is ranked. Victims are Philip producer for talkers over. And he say NA you know I would Ike I'd be here that actually pretty good poll question. And I I'm assuming. It would only be young people. That would be doing this definitely you know on AB and B can be anyone and anybody can do that I I don't know especially. I'm surprised they haven't come boss what you think they haven't of the box over to start now. But it's not like they're in one city right now what a great city to come to New York would be even. A better Nike thing about where you would wanna be. In near being the host because those are those your high demand department you look at the cities they're expanding to a Chicago Denver Raleigh now lower cost. All 50000 dollar down payment does get you very far in Boston. Right right. Yeah disease did the prices are so high you might yet they're targeting 600000 dollar properties or less yeah so you're not getting. You're you you raised that point you're not gonna going to Cambridge. And by a a three bedroom Condo. 450. For some 50000 who have summer all right now you can't find a place the A Condo for less than 600. Even two vendor retirement. Can't find it does not exist an enemy and unless it's like. You gestured down the studs completely destroyed C yep that's a 600000 onto any right now and he's exactly but. Is to say about where we were. Six years ago. In terms or roasted diced his 2000 officers who was one of the you know kind of the bottom levels of realist and I EU could argues 2010 but in a lot of people bought in 2011. News that was kind of the bottom yeah market and what's happened it's more than doubled. Oh especially as you talk about some of these places like you would like East Boston now this is Austin is in scene and sounds a lot going on south Boston's just a whole different country they used to be undesirable. It's it's. Ridiculous what's happened there the problem while the old well longtime residents there being pushed out. It was a denote a place can't afford to live there anymore. Washer can afford to rent. You know and the ones who want is a lot of places are making a killer because they have place that the ball in the seventies for 101000 dollars that are literally worth two million dollars or have a lot of clients of inherited places yeah that they've been renting hoped for. You know many years. And now they're getting offers. To to sell unsolicited offer that they just can't turned out it's too much money Hannity is it's it's really quite remarkable suits of these properties sell at four. Near property that. You know twenty years ago in South Boston might have been worth 2300000 dollars now selling for couple million bucks it's it's absolutely. Mind boggling. Up next we will be joined by why leave green. From Morningstar. Or be talking about in mutual fund. That is next from the financial exchange radio network. Trumps administration hasn't passed any significant legislation yet but tax reform is front and center at the end of the year. Keep it here with Barry and chuck for the latest on the president's agenda and how the markets are reacting and this is the financial exchange radio that. Work planning for retirement can be complicated process and I'd like to help make it easier this is very Armstrong from the Armstrong advisory group and if you've been saving money through and higher rate you should know that once you turn seven and a half who are required to start drawing from that account but how much should you take and where should you take affront if you don't take the required minimum you'll be subjected to a huge iris penalty call my office at 803934001. Get my brand new free guide and learn all about RA MD's call 803934. Zeros or one to get this free guide and if you'd like we can also set up a free no obligation consultation to review your investment strategy call 803934001. For our new guide about required minimum distributions or you can download it from our website financial exchange show dot com. Securities are for two securities America incorporated members Jenrette 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 bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage yield this is an online product only and there's no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice that don't delay log on to leader bank dot com get all the information about this great offer and sign up today before the rates change yet. Free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. And taught I wanted to talk to you about the east trusts. Do you in that need to create trust if you already have a well I get that question alike you know like I buried underneath trust I've got a will. You know sometimes talking about the basics is most important and in your right and people are so confused they'll come and say. I have a will lies they plan is done. With it's really not folks and and it in the reason is once you ask yourself that question so if you just have a well just ask yourself this do you wanna avoid probate. Well the answer is yes will not doing now Adler you don't own house you all nothing if you're more. Will probably suffice it could designate had no assets make sure you put like designated beneficiaries on your bank accounts your brokerage accounts. And you don't and trusts or are people that have accents greatly real properties. Got money in brokerage account. Peace rules that immediate two pieces. I think that's fair I think that the safe thing to do if you if you want an ill will as the wall as it won't avoid probate it will reduce estate taxes you're right if you don't have. Anything you know. The only need a million in mass to have an estate tax though we'll will reduce your state tax it won't avoid probity and won't protect your assets from the cost of long term care. That's a concern of yours so those are three Waltz that will will do so I think the answer to the question is yes I think you need more. There will most of the time time to get back to the basics folks call Cushing handle and get their guide about basics of the state play. The poll number is 8668485699. And most of you prefer to. Download the guide immediately to go to their website legal exchange showed dot com it's legal exchange showed dot com to download the guide. For the month of September. It is back to the basics September time to get back to the basics legal exchange showed a. The financial exchanges lied on FaceBook and YouTube watch Barry and showed discuss the issues of the day and see which one smiles the most. Is it financial exchange radio network. On Mondays at this time we talked about mutual funds. Joining us now is why we green from Morningstar here to talk about a mutual fund on mutual fund Monday want to take you for joining us. Wylie thank you for joining us either. Outstanding. While we were talking today about the black rock life at index 2030 fund he took a little bit about what this fund is in what it invests in. Fisher accused of putting it perspective misses but monetary fund is just one of the series target date portfolios and so for those that are familiar target dates are really intended to reduce risk on automatic business as an investor approaches retirement. I haven't article had passed but I arbitrarily pick between 830 on not just one of the bonds in the series. So what this does this but it reduces your equity exposure in as little more nuanced enough but in a general sense think of that produce an equity exposure for investor president. Approach retirement and then have another sudden we're gonna products that diversify part. Full you can catch up with your estimated retirement date packet and then and then let it run Orioles. Most if not all mutual fund families have something like this lease the big ones do the Fidelity's that your price Vanguard's the world. What you want to highlight the black rock one. So pick black rock today because well first it's one of our two we only have to. Gold Morningstar analyst target date serious and that those two are actually black rock like after indexes or discussing it and also the vanguard series. We pick black rock just because. It's sort of there there there there and on the forefront for researching you can see that being and implemented in their portfolios. So while it is an index implement a series and we can talk about that a little bit they are you know actively managing Mac lad and incorporating their latest and best ideas and the stock bond split whether the underlying aspect. Class positions as well. Until we think that you know this you know black rocks approach cheered their expertise in the area commander in nicely with what is one of the industry's most fees. For target date funds and those have been its series since primarily driving medical grating and there is talk about it. What are these target date funds they typically employ active management. Throughout some of the the funds that they own inside of there. Is black rock more index oriented because I know they also the iShares brand of ETFs did they take some of that knowledge and put it into this product. Yes that's a great site where is black truck last cup indexes actually constructed almost entirely of iShares funds. And so if you open up the portfolio you'll see it's just I'm looking at their last hopefully as of July has only nine holding one of those being cash. And so what you see is a host of measures product leveraging their expertise in that space and also drives that cost managed to that you know and iShares are very cheap. To to give you an example you know like you said there and they are expert in that space they have a lot of iShares options are so they're able to do some things that maybe some other part of the buyers are like break out small cap stock exposure from large caps on. Competitor vanguard will have a total stock market portfolio of this serious has hey Russell 1000 iShares. And a small caps and shares in the defense of the complaint with the small cap exposures for example. If found a small caps are better the first virus for bond exposure clothes that are parents they can tailor make. That breakdown between small and large. That's yet at the big Dodgers is that degree of flexibility. And a couple of construction preacher. Her good wily we appreciate you joining us today thank you for the time. You two that is why we green from Morningstar in the ticker on that fund if you do want to look it up yourself. Is LIE in AX and again that is the black rock life path 2030. Watery. Worn. Baby boomers about something that colonials are doing to us I was unaware of this. But apparently. Millennial Los are installing. Software. On our phones called find my friends spew of an Eiffel be very careful if you own an iPhone. Because millennial are doing this in an effort to track their parents. This is terrified and why any I don't want my use is homework I don't wanna know where you are you know what you personally believe my parents. That evidently it's quite common U I know I find it weird. The and a bowling meals what they're doing in the reason they're doing it. Is because when we leave our homes they come over in the have parties and they want to know when we're coming back to the installed this find my friends software. On our phones unbeknownst to us of course. And then they can track where we are what I have always thought if you've a party you own your parents come home and up places in Messi can say yup. We had a good time. I did you can't allow the next two weeks I've I've been in that situation the Dow is up 72. Points. At 22341. Crude oil trading at 4971. Per barrel. And gold down. Twelve dollars an ounce at thirteen twelve. It's very and chuck from the financial exchange radio and. This is very Armstrong from the financial exchange did you know that once you turn seventy and half you are re. Required to start taking withdrawals from your higher the problem is that many retirees don't know how much to take out of their diary or they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% higher rest penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&D rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our website financial exchange showed dot com. Juries are for two securities America incorporated member finreg SIPC and advisory services offered to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group 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. Workers at leader bank dot com. Member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by leader bank's local underwriting processing teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. DOC equal housing lender and number 449250. Subject to credit approval bank a step ahead hi this is Derek strong with an important message for you and your family if you had a successful career and haven't yet taken the time to plan for your future now's the time to make that call Cushing and Dolan and senior partner Todd let's have been helping families like with their state plans for more than thirty years and he's got a brand new out this month called back to the basics it'll help you learn about the bare necessities needed to create estate plan but will also educate you on important items like how to avoid probate and passing your assets along to your family called Cushing handle in right now at 8668485699. And ask for your free guide today that's 8668485699. You can also download the guide right now by visiting them online at legal exchange showed dot com proper estate planning is critically important to a safe and relaxing retirement so don't delay get this free guide today protect your assets and enjoy your years 866848. Fives. This is the financial exchange with Barry Armstrong and shut itself down. You're exclusive look at business and financial news affecting your day your city your world and stay informed and up today about the economic and market trends plus get breaking business news and every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. On Friday show we were joined by Larry Kudlow who's a senior contributed to CNBC. And he stayed. Quite pointed. That we're gonna get tax reform done in 2074. Quarter he thinks tax reform passed through the house and the senate. In the fourth quarter of 2017. And as a result the stock market is rallying the Dow is up 81 points hi everybody it's Barea and truck with you and you know the people are trying to figure out why this market's going up I think that's the primary recently from what I've can. Yeah there's probably some of that that's going on I think you know taking a look at some of the other things that could be moving the market a little bit. I think you know you continue to see the dollar weakening right now which is something's gonna boost the market overall dispute has anything that US companies doing overseas is going to be more valuable. And also makes imports are rather exports more competitive from the US and so I think the dollar's weakness is a big thing. Help in this factoring it should it's it's it's something that should help out when it comes to some of the industries that have struggled a little bit over the last couple years. You can see that gold is still thirteen twelve right now. You know Goldstone above thirteen hundred it's risen about 15% over. Of course we have either of you guys gone to seed this Steven king adaptation of the movie it T know now. I've heard good review I don't believe in scared I'm not a big karma guy either. They act talk to a woman that I work with and she went to see it she says news. And it's killing I've heard really eager is about it he's made a ton of money it's Killen at the box off it's it is now homemade. Domestically just shy of 220 million. And in foreign markets about a 150 millions of 371. Million dollars worldwide. For a film with a production budget of 35 million Stephen can't tell you draw mop mean this is a big win for Warner Bros. here. Well him and another big win for Stephen king and he made the I guess. The that the body is it's doing about double. In terms of revenue that had been anticipated. Yes he is doing a lot better than anticipated there's always. I find you see this with horror movie sometimes they kinda come out of nowhere and it's in the ones that aren't necessarily talked about a whole lot sometimes end up being the biggest winners and. It has been. Pretty good year overall for Warner Bros. so far OK year to date. There up about one point 4% over last year no case they're coming in a little bit ahead. But this was a studio the back in 2014. And 2012 really struggled it's a tough years for a couple years there. But their 2017 slate has been pretty good some of the other movies that have come through Warner Bros. this year. Wonder Woman which was a big win for them yup Don Kirk another big win for them. Tucker didn't seem to have legs. It was a good it's done 200 million domestically and 500. Worldwide now now so you anytime that you five extra production budget which is what they're doing here. It's good to big win right there they have had some some. Somewhat robust failures as well then Hong Skull Island didn't duel 160 million domestically for a 185 million dollar budget. Well overseas OK but didn't do a whole lot overall. Biggest flop they've had this year was the new king Arthur movie which they spent 275 million dollars on or an 840 million dollars worldwide. That's not how you draw. Another one that was a big failure for the ships they put 25 million into what they got 25 million now. One that has put your money in the bank. Rhode Island guests are working towards a sick leave bill. I I have some questions about this it's a a sick leave bill would guarantee Rhode Island workers up to three paid sick days and 2018 for paid sick days and 2019. And five days off per year from 20/20. Onward. And is a business owner I can tell you. Business owners aren't gonna like this they're gonna say well you know it S and it only applies to companies with the eighteen or more please note which is actually pretty small. You know pretty good sized company. Small companies I do think that this kind of this kind of policies something that you want to Seattle business it's okay. Whether or not legislation to mandate it yeah Brad way to go about it that's the the problem because what it dozens. If you know he is the corporate environment so. Competitive now right and if your thinking say you're thinking about using Rhode Island and you're gonna re locate 500 jobs. Rhode Island that they factor that into me they're gonna look at the C opposed to see all we have to give them five paid sick days off ever per year. And they're gonna say that makes Rhode Island less competitive. And Tennessee was so here's here's the question that I have it in this is the big the big question A times these kinds of topics tomorrow. We know that there are certain things that. We don't want our businesses do child laborer as an example OK we have no problem saying look we are not going to allow childless and hiring we're not gonna allow it year old to go into the work okay. We where's the line I guess in terms of what it's okay to dictate to companies vs what it what's not but is this this is kind of right on the border and that's why it's. Difficult for the did difficulty I have is that it's state specific as opposed to federal. If all state I'll I think it should be states have had well. But here's the problem right knee it puts Rhode Island at a disadvantage. Or Connecticut look at Connecticut. I mean it Connecticut's the perfect example if that. Untold numbers of regulations and companies are moving now right left inside it up I think what this does to Rhode Island. Is it puts them in any less competitive place. When it comes time to Bill Clinton two to compete. For the next. Round of jobs say a company stake in G. In him Brown University. URI you think about all the colleges in Rhode Island it's it's a hotbed of education. Why wouldn't you wanna be there. It's great you got a very talented workforce. While I think a lot of CFOs are gonna say to the CEO. Gee it if we go there it's gonna cost us 4% more than if we go to someplace else she Rhode Island hot place for. Yeah housing costs are low yet. Labor's available. To do this I think makes them less competitive I don't feels good and he did the go via the politicians say well where were helping the people. Amateur here help on the table is. The case though that the talents good enough company is a move there we see that was Massachusetts right now in Massachusetts is not a low cost place to do business yeah. But the reason that companies continue to move this is the talents that you know and so. My view is look if you do things to bolster the talent there and this is something that actually could help keep talent in state because they say look I have these protections here. And now and. There's two sides to it I mean I just you know it is I don't like the government being involved. In dictating to I don't even like minimum wage. That's how old fashioned I am at a I don't think there should be a minimum wage but. That's when no one person sought. The Connecticut it. Senate has decided in the wee hours of the final day of the 2017 legislative session they have approved a controversial amendment. That could shore up the 60% of the electricity for Connecticut's. If an amount of the electricity for Connecticut somewhere in that ballpark. And so they have reached an agreement to be able to or to allow the Connecticut department of energy and environmental protection to procure power produced by millstone and what it means. Good for the power play at the going to be able to stay open likely okay. Not necessarily the best for consumers in terms of what it means there wallet though because millstone is a more expensive power plant to run and operate than a lot of other ones out that's a nuke. It is something that they do probably need at this point is I don't know where they'd get the power from other ones you know that's that I think is the big question is can they developing a roadmap for replacement sources over the next five to seven years they can eventually wind down so Dominion Resources which owns real stone yeah. Kind of has Connecticut over there. They do very much Andy you know the only thing that I don't like Kate and I know I'm the guy that always sticks up for the corporation. Dominion will show the books they won't say how much they made or lost on millstone. That's an you know and their public utility. Meaning gave me here. I I think they felt they are not required to while I was gonna ask that question that to be inadequate but you know it's like they're regulated to making profits are you would have. Figure that is part of that they should be required to say okay if we have to make a profit here's how much profit were making love in there and they're given a guaranteed market rate you eat it if you noted Connecticut's Alex you have a choice as to who you gonna buy electricity from. In your your buying it from adults. Keeping the plant open it does save probably somewhere in the ballpark of 15102000. Jobs. And in any it's it is a high cost power that that's corporate. What he called back but none espionage it's. It they've gotten Elizabeth put about corporate greed corporate known only in Yankee beat me just pick I think what happens here in this situation is. Dominion Resources knows that they got Connecticut. Backed into court Nikki gave go anywhere else they can't buy that was might be it's not like there's and they can't say well gee will buyer power from. Ever source. Now your banner from us now that it's it's you're stuck and that's that that's the challenge. Up next we will be joined by triple nickel from the Wall Street Journal everybody's had a chance now. To look at the new iphones have been in fact compare to Samsung's epic trip might suggest to you. That Samsung still has a competitive advantage in terms of technology. Over the iPhone that is next 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 live. Work if you worked hard and had success in your professional life protecting your wealth and assets is essential to your ability to enjoy your later years advanced estate planning as many benefits and if you're like me you should some sound advice on the best way to set up your state hi this is very Armstrong and if you're in need of a state planning council or perhaps you just want to take a second look at your existing plan you should call Cushing and at 8668485699. And asked for their brand new guide called back to the basics Todd lets host of the legal exchange radio program will educate you on the basics of creating your state plan including how to avoid probate and estate tax reduction call 8668485699. To get your free guide today the law firm of and Dolan has been helping families protect their assets for more than thirty years let them help your family call now for your free copy of back to the basics at 8668485699. You can also download the guide by logging on to legal exchange showed dot com. If you're in the market for a small business loan you need to call leader bank if you are 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 ray does a lock for four years you need 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. Dollars and you'll hear from them within ten days of receiving your application at 8776917900. Call right now 8776917900. Member S. The IC this is very Armstrong from the financial exchange did you know that once you turn seventy half you are required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their diary or they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% IRS penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&B rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our website financial exchange showed 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'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 one point 15%. Annual percentage yield this is an online product only and there is no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice and don't delay log on to leader bank dot com get all the information about this great offer and sign up today before the rates change 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 that's leader bank dot com leader bank a step ahead. The financial exchanges all over New England to go to financial exchange showed dot com and search for the station closest to view this as the financial exchange radio network. They don't forget that leader bank is offering in new electronic board east savings account providing free online banking. When they one point 15%. Annual percentage yield visit leader bank dot com. To open an account Julie Wei can do is. Connecticut's housing market. Lags behind. Neighbors states that's an understatement biographer when the contrast between. Connecticut and Massachusetts is stark home construction permits in Connecticut. Fell 26%. Through July 2617. From the same period last year. Massachusetts permits rose 26% during that same purity to. Also interestingly when you take a look at property values in general the median property value in Connecticut. 271000. Dollars median property value in Massachusetts 352000. Almost that are more than 25%. Higher. OK but if you ever carved out. You know the Greater Boston area the numbers are. Right now we have noticed AF if my car that effect carved out you know Bridgeport and all that stuff at a Connecticut I could say the same about Connecticut yet Fairfield county's problems yeah I I can get rid of all that and all of a sudden we have Connecticut looks bad to. What's what's that thing that I think is just amazing news home construction permits down 26%. If it continues to be an area that is not showing. Any growth and I think a big reason for that is you don't have people actively moving to Connecticut the same way they are. To other states Massachusetts not a fast growth state only about 2.2 percent a year Connecticut to a growing at about one point 7%. Population population is spearheading this grown adult tickets and older state. Okay Massachusetts the average the median age right now in Massachusetts is about 39 years in Connecticut it's 41 went and we talked about. Inventory shortages whenever we talk to the National Association of Realtors you hear all there's nothing to buy. Lots the bike and etiquette tip they like it play any amendment to put lots of viewers choose from. The other the other adding takes a long time to sell your property and the other thing that you're seeing is a sick connected only has about one point 7% population growth and it'll get a quarter percent import. Job you know a case of job growth is not keeping pace with the number of people that are moving to Connecticut. And so as a result of a whole bunch of people that are sitting there saying. We don't even have a job at this point they might be in the state that they can't afford to buy anything let's talk about the companies that have left Pfizer. Right they were in New London yet they left several years ago. GE left let me a year and a half ago the idea about eighteen months ago. Alexion Pharmaceuticals up. They left. They are there in the process of lot of rumors about some of the insurance companies in Hartford area you know we have Celia Aetna they effort out of them and Aetna's RD so they're now but you know it it seems like every three to six months we get rumors about another one of those guys leaving and it's it is a tough time for Connecticut. Well I mean what happens. The market will receive so much you know bottom at some point housing market. He becomes a much less expensive place to live. And at some point the legislature will figure out hey we need to deregulate we need to lower taxes. We can't just keep piling. I don't know if they figure that out for bankruptcy. For Hartford. Yeah right about now. I don't I think the state of the fine dvds is still so so what income I I worry about the the state continuing to tack to him. Remember Hartford the way the population is distributed there from an income perspective it's a bar there is very little middle class in Connecticut. And the problem is there's so dependent. On the tax revenue from that ultra wealthy that top point 01% you know that if they decide ever if if you have. You know a couple would say that if you add Bridgewater associates ever decide to move out of the state. Well tonight I was gonna bring that up I mean the good night they have a preponderance of hedge funds that are in that area about five big ones pick up and move. Bring to your site yeah they record the biggest hit biggest hedge fund in the world gamers sixty billion to close 20200. Billion was 200 billion dollars to. They'll be and and that you do worry about. New EU you were hurricanes stir up profits for the refiners. Instinctive see you mean there's still. Gas shortages in Florida. There's hundreds over under gas stations in Texas still have not reopened yet. I. Shortages. Are prevailing on their bed they're coming back they they're. We you know she pulled Tuesday electricity numbers assuming people still without electricity and yet I haven't taken a look since though the latter part of last week and we'll take a look later but. In terms of the other hurricanes. Refiners or make him on the ones that are open are making yeah. The problem is you still three refiners that are our idol at this point eleven more struggling to get back to. Working conditions either because of the flooding damaging the plant or simply because they kick it all their employees back to where they need to be. And so you still have 12% of the country's refining capacity shut down yup it's that means that for the other 88% its operational take. They've got a glut of oil coming through in the they're gonna be very profitable as a result because. This oil doesn't make any money sitting in tanks of the more the people quicker that they can get that through and our reserves are going down so it should stabilize only the yup he's their prices are up it would we paid fifty cents more per gallon and we were we talking desperation yes yes yes of gas right now so a month ago the national average about 234 and today it's 262. Okay. Medieval a year over year bankrupt about fifty cent your rear yet about 45 cents right now and compared to a week ago we started come down gas prices have fallen about five cents since a week ago. They're starting to see that recovery. But you know as I said when this all started it's probably going to be mid to late October before you see prices back down eat in a normal range here. Just as it takes that long to get everything's pulled up and running again. The eighties some people are saying it we're not gonna see it until. First quarter next year could be in some cases I'll tell you. The other fires are making a ton of money on this Valero stocks since the the middle of August has gone from 64 up to 72. Okay. Phillips 66 right now is 88 dollars a share in the middle of August it was at 81 so both those companies up a little bit north of 10% and and you compare that to if you take a look acts. In ExxonMobil or someone like that one of the big super majors diversified oil companies. ExxonMobil. Pretty much flat since the middle walks they really haven't moved a whole lot so that the refiners are doing very well the moment. And you know it it just shows that even within the energy sector and depending on where you are upstream midstream downstream you you can have vastly different impacts from smoke from a storm like you know. Remind you that Maria is on the way you may not have heard of Maria but she's. She's now a hurricane. And she's headed towards saint Croix in Puerto Rico and lord knows where she's gonna end up after. There's a there's a great Twitter. Follow by the way if you while wants some of the fall for anything weather related how he's picked up a huge following coming out of all of these storms all that. On the buzz handle his handle is doc cranky WX guide to cranky weather guy. And he's. Absolutely phenomenal I've learned more watching his Twitter feed over the last three to four weeks that I have learned in my entire life otherwise he's this one it could be a doozy greatly this there's in this when could be Maria there saying that. Yes I I got a an update just recently was upgraded to a category three about twenty minutes ago. And so wind speed continues to increase for Maria on what's heading towards a warm water which is I guess yeah it's it's heading towards there and a category three hurricane by the way in terms of what that means. Four win speed. Money. Well yes that that means a pull up the you categories ray announced make sure I have all my information I believe it's one point but the pages stock so. One of those you know commercials offering offering. We try to figure how many people are still without electricity. In Florida. You're listening to the financial exchange gritty enough. You've got Barry Armstrong. Financial exchange shall look I mean she'll 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 buy your gold locally that just makes sense of leader banker called and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency not guaranteed by the bank and may go down in value leader bank. A step ahead this is very Armstrong from the financial exchange did you know that once you turn seventy half you are required to start taking withdrawals from your diary the problem is that many retirees don't know how much to take out of their diary or they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% higher rest penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&D rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our web financial exchange showed dot com. Juries are for two securities America incorporated member finreg SIPC and advisory services are there securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are. Unaffiliated hi this is Derek strong with an important message for you and your family if you had a successful career and haven't yet taken the time playing for your future now's the time to make that call Cushing and Dolan and senior partner Todd let's keep have been helping families like yours with their state plans for more than thirty years and he's got a brand new guide out this month called back to the basics it'll help you learn about the bare necessities needed to created a state plan but will also educate you on important items like how to avoid probate and passing your assets along to your family called Cushing handle right now at 8668485699. And ask for your free guide today that's 8668485699. 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But don't tell Berrian jogging the financial exchanges alive every day on FaceBook and YouTube this is the financial exchange radio network. Well we check the Holland and company people are without power. And Florida power and light as 95% of the cost. It's pretty good amazing and they number in the week we we are questioning how quickly about combat. They right now we're joined by triple nickel from the Wall Street Journal who has had an opportunity to. Look at the new iPhone and compare to Samsung's products they don't trip. Good morning so. Are we in a situation now where Samsung is building a better phone then apple. Well or what we're sent by not really building a better and but he is making them is dying. Design we've had a well aren't you if you look back at what happened it allowed. You'd design period end and kind of mark a lifespan. Yet and on both introduce. The larger display. You know that we saw. Apple come at it would be out there they bought. A few years doctors and and introduce back like tablets out and then. Lately on the San undeveloped oh lead this plate technology available aren't they were the first really early this kind of as stiff added full screen display that we're gonna in the I've burned them. The they. Do you did the first facial. Recognition as well Sampson. They did all day of their own is considerably different from Apple's in the as. And not quite a bit and it didn't seem to both the paint it as straight an apple tried. There is to doubt but it took them. And I was trying to figure out why the iPhone. X is immune to be released until November because they're by doing that they're missed in the entire well they're they're missed in a pretty good chunk. Of the Q4 sales. With what's the why would be is that a strategic decision are they just having a supply line issue. Apple has declared five why. It's not early in the parents don't have that third although we've done some reporting and going back over the course of the summer. You know there are some production issues related it is new display and had decisions density. I'm Bart beneath the beneath the strain or somebody that apple. According to our sources wanted to do and it consequence of that production Adelaide about mark and so we're seeing the dollar roughly marked the way in terms of the shipment data as well. And so in pre orders for that are what October 23. Yeah I think as we pour in the is the X that good in years like in your review of it. Well I I'm not the hacker you guys he's got that guard college epic Ballard about that that the W that I mean it is that it's a very different looking and hand. If our experience and what you have right now from anything else apple offered. Are about a dot point eight inch goes way. Screen that is Merrill we did in the I haven't bought the came out last year so a little bit. Nine year old. I put one hand a lot of the things that people into it about the and does this smaller burden of the and then that exist right now like BI went seven. You get back lost the benefit of the larger display that you it would be out there that ought it's really of the kind of hybrid in that. Certainly a lot of people are gonna crap as it is now just how many of them outlook at its I don't that the thousand dollars. There's. And the airport apple. What did. What's happened to their share of the global market for Smartphones soon in the last five years. What if it's really picked been decreasing and what's happening in the work on marketplace that large is. We've entered the period where. Market penetration and developed countries that is it's almost totally saturated. You know we've already on that 100%. Person base as we've already. Hit like 9900. They're 99 mark patterns for every hundred people mile straight ample but not Apple's biggest. Biggest markets are far. So a lot of the growth industries coming in developed countries India. And I think looking at it will be on Africa. And these are places where people and a board. The pay a lot of what watts corporate. For what we found and what it at the new and older. So the end up going with a walk away or something less expensive. Exactly areas meanwhile it really are saying. Two companies out of China called oak Owen Bieber that are really. Picking up market share but developer. Less expensive alternative. Apple. And be content and not play in my game but idyllic and it shattered market share based. You're gonna continue to be their market share decline and the growth takes place embers. Interest and thank you very much we appreciate country. Trip medical Wall Street Journal they eat the thing I would be concerned about from an apple shareholder. If your market shares declining. I'd be concerned because. ET talked to somebody who's an android users they're very reticent to go from Samsung were all over two to violence. They are I think this the single biggest. The driver of apple over the last. Couple decades now I mean it's it's hard to believe what we're talking at the I've iPod was almost twenty years ago. But the single biggest driver for them has always been more actions that they've never the biggest seller okay they never sell the most of anything. They never control the entire market you look what they've done it computers they've never had more than 20% market share just now what they do. Their margins are the fattest in the business so they're able to charge a premium they charge a premium price for. And effectively and I'll be the first to admit. The iPhone the last couple generations has not been better than what what's been offered on the android pot it doesn't. No we ate it hasn't been they've they've typically been playing catchup a little bit in some cases. But the fact that the ecosystems still works I think people still value that. And the fact that again it's it's got the apple name and and we know that brand. Is incredibly important out there it's the eat that apple logo was why they can charge much as they do now. You know it's it's no different from how Mercedes to charge what they do for cars. Well the I think the the reliability of the product speaks to. And he there tends to be few problems. With iPhone it like you generally you don't hear people say I got a recall notice on my iPhone no I mean you joined up with the situation occasionally with apple maps where you think you're going to breakfast you end up in someone's backyard but we have to offer should. In terms of the hardware write the hardware generally works in it and because they've kept such a closed ecosystem when's the last time we heard of any viruses on a Mac. And you don't decades they keep such tight control of things on that from that perspective that. You don't have the same kind of malware issues that you do on other platforms and that's that's a huge huge thing in today in in today's market. Now this card sharks ATM skimming is growing more and more sophisticated. Says gonna ATM skimming this is like the old. Eat you know the the old that day did anything this scandal with the rip off you're right your car. Yeah what what they do is in this is why if you ever go to a gas station and yield you'll take a look when you're paying with a credit card out there. There are all these seals around the pin pad her. That say if this is broken please do not use and the reason for the has because of people used to do in the old days they'd break open the pin pad. And they go and they put a piece of hardware inside of it in order to scan your credit card and how to Alina see. They get it when you it's so that I mean they do it like at night when no ones there that do it like for am now so they installed a thing in the making just collect all the data so. The theory is that hey if you have these seals and you can see if someone's been in and they've been broken down. You're able to track you you're able to tell someone's gotten in. So of the new devices for skimming are far more sophisticated it requires the used to go when it opened the entire thing up. They just put something actually right into the card reader itself. And so you or the operator of the machine. I don't know anything's been done. Here's where you still see the this this stretch. Today as opposed to chip dip is at the guest that's exactly it's it's one of the biggest places that we still have not addressed to this point. And so only about 45 to 50% of US credit card transactions are using the chips some still only about 50% there were three years out from the target date approach right now. Three years out and we're still only 50% there I thought we're going to be higher on the the extent so I've seen on line. On the ATM machines where people put you slide your card you know guys actually go onto it and install new card collects sweater on top of that once it looks like it looks like it's part of the machine. But I got to imagine that would be like the Bank of America that's got to be it it's like I want the the outside you know. It's your gas station to the exact time you know if you eat you got a little ATM in the wall of the building that's just you know Jim's ATM or something like that. You see a lot of those kinds of places he'd like to think that the bank teller and offers a little bit more Pretoria and then. Just crazy do that stuff. And keep in mind that it's because of the because the chip transactions have reduced the availability the ability of these thieves to skim elsewhere. They they're pushing everything towards the ones that are still hold liberals well as on line as well. Online online not not so much is it's not the same technology could yet skimming on line. But the amount of online fraud has gone up significantly just because it's one of the places that still vulnerable because you just put in your credit card. Number look at I concede that that I could see somebody. You know he especially if you if you're naive I would put myself in that camp racquetball parade so whenever I can ally is apple pale long. Really the thing I usually tend to shop at Amazon or jet and they've I've loaded my information sort of to rebuild it authority there. The is that one of the best ways you can protect yourself when shopping online if it offers the ability to use apple they use that line. That's how does that help you. Because what it requires is every time that you go through it whenever you use your fingerprint so forth it's what it's a process that call token is Asian okay. And it creates a unique ID code for that transaction it can't be used anywhere else that can be used once and that's it. And so few using that it's more secure than appeasing just the base credit card. So do you is that we use when you're shopping online if I can distill a lot of places that don't allow it but that's what I use it up next will be joined by Tim Stevens from the CNET road show what kind of car we talked about it and really talk much of concept cars coming out of Frankfurt Frankfurt Auto Show so going to be talking about. Some ones that may or may not get into production. Very good that is next from the financial exchange rate unit. Work. The financial exchange with Berrian chuck is alive on FaceBook and YouTube every morning beginning at ten days is the financial exchange radio network. 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Securities securities America incorporated SIPC and advisory services securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities companies are unaffiliated if you own rental property you're going to want to hear about this exclusive program offered leader it's called zero cents and is designed specifically to help receiving and deposit their rent checks electronically as opposed to having to wait for the leader bank right now if you are interested he the number is 8776917900. That's 8776917900. This program will automatically your rent checks into your account and we'll help you avoid the hassle of waiting to get a check many landlords are suggesting that sign up the execution of their release and why wouldn't you wanna do that once it's set up you never have to make another change during the lease period he does a free service if you have an account bank and if not they'll simply cost a small monthly co bank right now 8776917900. That's 8776917900. Or go to zero grants dot com for more information member FDIC. Security suffered through securities America and members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated. Vote on our daily poll question as financial extreme show dot com while you're there to fire of the media player and watch the show while you work. This case the financial exchange radio network. Tim Stephens from CNET roadshow joins us now talking about some of the concept cars that are out at the Frankfurt Auto Show. Tim thank you for joining us. Retirement Timmy you out in Frankfurt. Aren't just back of their last week while in your own you know there are critical to being on the output and reduce. What was the most ridiculous thing that you saw there that probably won't even make it out to show rooms. Oh look. If you go to Robert Mercer spent a couple of career are you looking forward in the future and one was under smog and you know. Kurt model what are fortunate here in the US are currently are one of these cars and if you don't want used on the road that was fully autonomous. And economically secure from place to place but along the way it would make suggestions about people that he could pick up and share your life to live. Obesity is Tressel colleague character in some virtual management for you as you're getting your trip to work there. In terms of what might actually be making it to showrooms does that sound so it's certainly a little bit out there. What kinds of things did you see there that might not be in showrooms next year but might be two or three years often have a legitimate chance to make it into people's hands. But it works on court you're technologies that are coming here you are out you are showing up third new autonomous system in 88. Our nuclear orbiter and your future don't do basic core autonomous driving and I will eat so and stuck in traffic present book. Even in the button. And certainly on the car will completely take care of itself little bit of an obvious entrapment and if we export to word that the car all up to him about 35 mile an hour. Or that that out over our content to work on making them work better are its other in Italy. Pretty much a Thomas sykora that it lost in the market in the burn and so a lot of of that historic step toward economy without taking the full steps to different. And to be without her abdomen and. These autonomous features are there any markets in particular that there are looking to roll these out and and I'm assuming they can't do this world wide just because of the differences in driving from one place to another. Assert that there's a lot of complexity is eagle and one look Alec little. Basic stuff like the super street signs to local laws in Portland right on but also in terms of population density that's really work and optical quality services. Also keep them coming up first I would answer is nooks to be so now it seems like that went to the traffic issues where people don't have to deliver cars and we. People do need to look at. It'd be ultimately may be that the public has picked this isn't quite going that needs or those services popping up there. And the like rusher and down culture and human. Ben go to borders panel with Morgan told the more rural sucker out in the country for example maybe you can go to your beacon Shalit for example. Cop in the car at night animator and garlic in the morning in your that are critical. Is the Frankfurt show purely devoted to these quote concept cars or are there more practical. Versions out there that just you know new iterations when he eighteen models EC is well. There were that there are important part because of their but it is currently focused on the European market has to be on the German market. But we all things are the new addition duster for example which is in your inspect count or are four really portable. All wheel drive. Small suvs it's incredibly popular in Europe have. And come to US that they should end here in the US but I think available for about thirteen thousand article that entering that Little League or we thought Archie called like that. But not that many major this war collection cause commend the US in the very near future there are a lot of things that look to ignite a nuclear. We're talking about the the big technological changes that were watching for autos right now. Autonomous driving is obviously one of them the other is power train and in the move towards. Electric vehicles anything on that side that dusted out. You're accorded that there are major announcement being made in terms of investment being made so Richard Egbert ample. Ten billion dollar investment into doctor Carter and that includes both battery electric and also acquired in two shells. It didn't shook off that would see SL which is that fuel cell power. Across its you've either been on the market now battlefield a couple under tomorrow on fuels don't appeal to plug it in as well don't have art exhibition in the U. It is like you go about thirty miles an unarmed and an aunt and in the car at all. Which is such a lot of investment going into battery electric for a lot part of will be coming org we've. Cut like our cartridge Mercedes says by when he went to all the console has some electric Carter. Although it said similar things agreement all the major European meat Packers will be offering them come reported hybrid in the next party. Surrogate Tim thank you very much of the time and we will catch up with you soon Oca. Urquhart Tim Stephens from CNET Roche are talking about the Frankfurt Auto Show quick check on markets right now the Dow was up 76 points the S&P is up six the NASDAQ up 26 right now. Oil. Down just slightly down about 1% to 4938. Gold down as well still about thirteen 113 twelve. And the ten year treasury in the US currently at 223 a little bit of a sell off in bonds happening right now as well. The Fed is going to be meeting. Tomorrow actually we're gonna get a fed announcement coming out on Wednesday about what's gonna be going on. With interest rates expectations. No movement this time but we do now have a greater than 50% chance of a rate hike coming. In the December meeting so a couple months out right now likely be seeing a little bit of movement there the Fed is expected. During there meeting this week to announce they're gonna start trimming the balance sheet what does that mean. The start selling off some of the bonds that they had bought during quantitative easing in trying to get those back into the market. That is all the time that we have for the day we appreciate you listening. Very Armstrong and chuck out of we will catch you tomorrow. From our financial exchange radio network.
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