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1-13-15 Full Show

Jan 13, 2015|

1-13-15 Full Show by The Financial Exchange

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

Radio and where they're. To exchange and I'm here to congratulate. Mr. Scioscia to leak from leader bank so she'll. You guys are you know other mid size or small community bank that you were ranked number five. In all of the banks in the commonwealth for small business lending congratulations to you and. Thank you very much thank you Betty. Lot of credit goes to UIQ. Ammonia showed two months ago. We got about these special program leader of bank had products mom business Christmas. And because of that via model business we got the people who could mandate of that's my program. We the number at the fifth lies yes that's being and as you let's be very proud. Very proud of for my team on my quote team leader creating jobs in a bad lending that money you're creating jobs and your help and motivate the economy. And we act absolutely absolutely BM making contribution to the locally you've done right so we have introduced in new product now. But it's via VT's 50000 dollars. Operative to dogs and have border and help us and if forty alone and we get indeed I've been deemed ten working days would close a lawn. And daddy impaired documentation of why it took anybody looking tied at the SBA loan. Please contact us on databank will be developments tightly to bang dot com would give us a cop. There are a leader in small business lending 50000 dollars four year term four and A half percent interest rate their phone numbers toll free 877. 691. 7900. Or visit leader bank dot com get the call their terrific banking in the wanna be your business lending partner. 8776917900. Leader bank dot com. If you're thinking about retiring in in the next few years it's time to make some big decisions do you know how to change your investments from a growth portfolio to one which generates income do you know when he optimal time to collect your Social Security is did you know that if you lopped from monthly pension that income can be at risk for the nursing home perhaps a lump sum pension option makes more sense leaving a legacy for your spouse injure children there's so much consider before you stop working and we've put together a 26 page or reach high aiming guide they can help 8668106422. You've worked your whole life saving towards retirement doesn't make sense to get professional advice to make it last 8668106. Fourteen to securities African securities America ink member finreg as a PC an advisory services operative securities America advisors and Barry Armstrong represented it comes to an advisory group in the securities American companies are unaffiliated represented as a securities America do not offer legal or tax advice always seek the price of a professional familiar with the laws in your state I'm going to gross. Into the law. Can they. The basketball are. Yet wherever you're going the quality gasoline and ExxonMobil stations of the energy behind your journeys they helped engines run smoother and help improve fuel economy to ExxonMobil energy lives here and Exxon Docomo mobile accomplish details. There's your basement or crawl space have adapt musty smell. Well watch out that's a sign of too much moisture and not enough ventilation and that can mean increased mold growth and the buildup of harmful toxins and gases don't bother with the 1888964. Way bets 1888964. WA VG a. According to a recent survey conducted by Genworth the average cost of nursing home care in Massachusetts is a 134000. Dollars per year how quickly would your assets be depleted if he had to write checks to the tune of 111000 dollars every month while it's certainly ideal to develop your asset protection plan in advance like tends to get in the way if you or a loved one their feast with an unexpected nursing home stay. You haven't done your cleaning before you write that check pick up the phone and get some expert advice a lot firmer at Cushing and only has put together a brain you guide for 2015. Called cleaning for procrastinators. You cannot put off this call any longer call right now to get your free guide and learn how to protect your assets 8668485699. Don't impoverished your spouse or use up your kids' inheritance call a year free procrastinate as guide right now at 866. 84856998668485699. Okay. Your words hold on your checkbooks and give your portfolio and break. It's time for the financial exchange with Barry Armstrong in Kim Keller again from Wall Street -- you're street bearing in humans and you've got hurt in the financial exchange with Barry Armstrong and gene Kerrigan. Hello New England as well. Switched agencies and glory it's terrific to have you with us and keeps your insurance is due with me. Yesterday some enhanced area in fire. And I should avoid injury. A week. And I notice David the new road bag no he will be back on Tuesday but what you did say it was next next day it is Tuesday. So they're out enjoying some some nice weather and I'm sort of wishing I was sitting with him on beach today I got it and there with me here it is giving new meaning to term. Playing her I mean I don't Manning had a torn quad in this in that but let me Italian. Tim's coming in and I and I saw him this morning about you know 8 o'clock. And I sit there and I go. We should just being bad but no. Still years they'll bring him for the next few hours and get under this what we're gonna push through and I got your back if you need anything if you know I got to cop yes. Well in and David said that he will take care of you know cough drops in water and I sesno has done means that it's like it's good Tug to. I would get a good show planned for each day your just a couple of minutes were talking about oil. With an oil analyst. Mean what is ever but he really talking about right where we trading right now. So if you're looking at oil at the moment okay were on the US WTI. Is down below 46 actually below 451. Point earlier today. It has since recovered a little bit hobbled when you look at what stocks have done today. Moves in the market there and this is something. It's interesting because it's finally disconnecting. It the price of oil in its pacing itself more on some earnings that were starting the season that's going to be a story. Really that we're going to be following the next couple weeks you. Can't a strong earnings season or potentially strong earnings season is we don't know what's coming yet but if you doozy earnings that are a little bit better than expected. Can that overcome some of the questions about oil is obviously energy sector. Not a situation that most people wanna be. No absolutely not well enough already have to tell you a lot of companies are coming up. And saying hey don't expect much because of oil up we're looking at may be 21% down in the fourth quarter. Will wait and see exactly how that all goes I it hits it was amazing to meet these companies you know. They start making excuses before they even start read the numbers don't play it's it's amazing it Ito. But they they they can they all speculation of course they say look you know we've we wanted to make sure you know what's happening in the right and especially when you look at what's going on in the energy sector right now the big thing that you're also starting to see is when you talk about capital expenditure meaning. New projects under development the next year now. You've seen companies slash their development budget BP's last there's I think somewhere around 35%. ExxonMobil by about 25%. So. You're seeing companies simply saying look we're just document develop under these circumstances. Now. I think that when you look at the price of oil were down you remember we talked yesterday. About the Saudi prince who came out and said look I don't think you're ever gonna see hundred dollar write oil ever again well. Look at I think all of us agree that that's probably not. Accurate okay simply because when you look at the long term trends they're still moving in that direction. But in the short term OK there's pretty good chance that you may not use prices get back to that level any time soon. And really it's just because there's such a disconnect that's now developing between supply and demand. With so many projects that have already been in effect right coming on line now so you look at what's happening right now. And the latest estimates that I'm seeing are anywhere between a million in a 1000005 barrels a day in excess production. That are coming out right now and really it's because again the saudis and OPEC have said. We're not gonna cut production historically they've always been the ones that says okay you're producing more we're gonna produce less useless right finally they've come and said you know what. Where's gonna or we want markets here where we're gonna drive out new production out of business and we're gonna see if we can capture market share and that's what they're doing it. Exactly when it's happening now we'll talk with an oil analyst and I wanna see. I I was reading a number of analysts are saying they think that oil will sing around forty dollars a barrel for at least the first half of 2015. And maybe even longer so. We'll talk with our analyst and find out what are analysts is thinking how we have been talking about earnings reporting and of course the first big report comes from Alcoa. And it was. Yeah it was up better than people expected they came in their Purdy reported 33 cents a share compared to the consensus between 27 and 29 cent a share stocks actually own a little bit in trading. And I think it's when you look forward guide it's potentially a little bit weaker. Than folks were expecting there but. Get Alcoa keep in mind no longer than major bellwethers that they were if you look back you know 1015 years ago simply because they're not as big of a part of the world economy anymore there's no. Right now if you look at market cap they've rallied in the last years of the still about you know 1819 billion dollar company it's fairly large one. But it's not a company. That is you know you go back. And look at Alcoa you know really over the last ten years or so. Okay this is a company that if you go back to the mid two thousands was trading at about two and a half times this market valuations so it was a 4050 billion dollar company there it's no longer that size and Avery directed their business to be. More involved in the production of alloys and producing aluminum metals as opposed to simply being a mining come right would take out. If it's good for them they had a wood just right so where it plays this was going if you look at their 2012 between thirteen numbers they were garbage but yeah. They've adjusted and that's what good management does they say look what we're doing. Not working right now we need to adjust in a to list them for turning this company. In the last year and a half I was look at companies like HP and say well why don't take no where he's at Mexican companies these take notice tech guessing like Alcoa it's so hard in tech to turn just because. The new technologies coming out so quickly and it is set to not set for is such a quick flash in the pan in a lot of cases so it's it's so hard to turn a big company intact that's HP is seen. That's what Cisco's scene that's what Intel's off for awhile so Microsoft's offer ten years ago and they're finally now starting to develop products that are getting back to what people actually want self. It's not easy and you know again it's I think text one of the toughest places to do that. But again big kudos to Alcoa for what they've been able to pull off trees. In his first segment we always like to talk about some of the world events that are taking place and how they may have an impact on the markets and. Two there today there was a big announcement it was actually. The late last night which would have been Tuesday in France but it was announced that the existing staff. At turley head though that satirical magazine it was attack last week by terrorists. Made the decision that they would published three million of their next magazine abnormally. They're publishing 60000. And they don't sell all those. They're publishing three million they'll be distributed worldwide and they are putting the Prophet Mohammed on the cover. In a show of defiance against what has occurred. In the announcement actually. I was listening to analysts this morning in the announcement did have an effect on futures this morning around the world. And certainly they're trading was in positive territory in support of this idea. But this is quite a step for them to be taking. There's only I did not know this track which I find amazing there's only one illustrator loft it at the magazine because. The other illustrates oral targeted. You imagine being so the one who's left in the hunt who's actually draw I mean. I'd just thinking about it now it's you know huge I'm almost emotional just thinking about what are relatable to you that person who has that responsibility. To carry that on in that in that next issue and aid to draw and I think that the message that it sends again it's it's. Pure and simple let's look we're not going to be afraid we're not gonna be cowed into you know this. We're gonna go out and we're gonna just we're gonna draw we're not gonna go out and try to kill you we're not gonna go out and try to hurt you we're just gonna draw and try to do what we've always done. And that's the I think it's the. Perfect message to send Paul Ryan says no thank you in 2016. He will not be running for president. And of course this opens up the more and more doors for Mitt Romney. I don't think it's a huge surprise because you know he'd give that a little rumbling and indeed dental research but haven't really put together a full on exploratory committee. So that announcement being made this morning by Paul Ryan and that comes on the heels of a talking yesterday about Mitt Romney being candidate yup and the fact that he is starting. A committee to explore the idea. Hard to believe that Mitt Romney may jump back again but it sounds like more and more people are getting behind that idea. Last night of course the national championship. College football on ESP and. They spent seven point three billion dollars for the football playoffs of course the first year for them to exist it was huge gamble. And it looks like it paid off big for them chuck. Yeah and when you look at just what they saw. From the initial semifinal games which rallied about a week and a half ago. Those are the highest rated sporting events in cable TV history cannot broadcast TV but cable TV by about 50%. OK so it's it's not like they've you know beat by a million viewers say they average I think we're somewhere around 37 or forty million viewers for those games the previous I was like 26 or 27 million so. They knocked it out of the park with those we don't know as we don't have the the ratings for this game yet it is expected to be somewhere in that range of. Not a little bit higher. So we do know is that last night they were charging about a million dollars a spot. Correct compared to this upcoming Super Bowl which is four and half million for the thirty seconds. But you're also talking about a much different audience at this point two days I know this to be fact. But just think of this they paid seven point three million dollars right billion billion I'm sorry for. That day don't halt the rights for all of these. Games. And we know last night they were charging a million dollars a 32 spot in what was it almost four hours. Guess TV and you'll get a sense of the breakdown so there's actually there's a great study that was done this is based on NFL so it's going to be a little bit different right or college. But essentially what it showed was that about 24%. Of the time of an NFL game is spent in commercials okay. So you figure out before our game here I'm gonna assume it's pretty close that's about an hour of air time okay. You're getting two million dollars a minute are you figure that's about 240 million dollars. That they got just for ads during during the sure to stir it up before counter and I the other bonus that goes along with that so. You talk about what it means more than in pure dollar values again those numbers are only gonna go up in future years especially once you see. And how proven this isn't how capabilities of bringing in numbers year after year but those numbers are only gonna go up so I think it's a very successful start. War yes opinion on this. It's you know and they've made a mark for themselves they've positioned themselves for future bidding exact him to get this I don't know we did it was just an extended contract you know where it was is a one year deal now this doesn't know it was it when you look at how long it was I'm gonna have to do some research in the break I believe it was a seven or eight years old. Or and it foot long ball out of Ottawa yeah good for them. It very exciting indeed were you surprised by the outcome very quickly or sports segment. Let me tell you my aunt on state grad and Ohio State and so couldn't hack it in the outfield today I. And I know they had there are state flag flying proudly. Front right instilled in today they'll end it absolutely share our it would aggravate everyone you're listening to the financial exchange when we come back we're going to be talking to an oil analyst at prices where they. Barry Armstrong and can carry live. Right here on the financial exchange radio network. According to a recent survey conducted by Genworth the average cost of nursing home care in Massachusetts is a 134000. Dollars per year how quickly would your assets be depleted if he had to write checks to the tune of 111000 dollars every month while it's certainly ideal to develop your asset protection plan in advance light tends to get in the way if you or a loved one are faced with an unexpected nursing home stay. You haven't done you planning. Before you write that check pick up the phone and get some expert advice a lot firma cushy union Dolan has put together a brain you guide for 2015. Called cleaning for procrastinators. You cannot put off this call any longer call right now to get your free guide and learn how to protect your assets 8668485699. Don't impoverished your spouse or use up your kids' inheritance call for year free procrastinate is guide right now at 866. 84856998668485699. Investors searching for relatively low risk investments that can easily be converted into cash often turn to certificates of deposits or CDs leader bank is currently offering an eighteen month CD with an impressive one point 25% EPY for new accounts with these kinds of rates now as an ideal time to take advantage of this great opportunity from leader bank to learn more about the eighteen month CD with a one and a quarter percent EP why call 8776917900. Today or visit one of leader banks conveniently located branches in Arlington Belmont Cambridge or Burlington earned more interest on your money today stopped by a leader bank branch or call 8776917900. To learn more with the bank a step ahead minimum deposit to open and -- annual percentage yield is 1000 dollars Massachusetts residents only penalty for early withdrawal including iris penalty which may reduce earnings. Rates subject to change without notice member FC rate effective November 4 2014 this is Barry Armstrong and I'm joined today by estate planning attorney Todd let's keep from the law firm Cushing in Dolan. It's time for your legal exchange quick tip of the day were talking today. About the different ways that you can own rules state and Todd I wanted to ask you this one. What are the implications of transfer your whole C just take your home yet and you give it to your children. In order to protect it from the nursing my ex he had somebody asked me this yesterday sixty years old. In the heard about this thing transferring music like this yeah. Kind of makes my teeth pitch really you know GAAP putting your kid's name on anything while you're living is frightening with or without the light to states a year question was interesting it was. At least using a life estate does provide the parent the right to live there that some protection night. I feel better about that. But I really don't like having the children's name. On any property. For the following reasons one when you do that it's a completed gift to you've lost all control over your order anymore. I worry about if the kids go through divorce and ex son in law the ex daughter and when your house like. Number three is it viewed only you know I don't you've now subjected manager Jim said Barry took their creditors and president. Necessarily have to be divorced as he could be a lawsuit business failure anything. Could be any creditor so they don't basically that creditor has the ability to get the asset to pay them back which means you lose your home I certainly don't like that idea not to mention there's also a tremendous amount of tax problems associated with doing that so don't don't do that. Sorry I've got some advice for you learn the best way to old and protect your home your vacation home in your rental property. Call for Cushing and old brand new guide to the risks and rewards of real estate ownership 8668485699. That's. 8668485699. The guide will teach you all about the risks and rewards of real estate ownership. Toll free 8668485699. All the best in businesses is right here. Barry Armstrong and Ken Carrington. On the financial exchange radio network. Welcome back into the financial exchange talks about a billion for bear arms struggle alongside him arrogant and. Oil prices have been one of the dominant stories of the last couple months now and we are fortunate to have on. Surrender a child whiny and oil analyst with energy aspects and render I appreciate appreciate you coming on with us today. Brenda. So when we will look at oil right now. We we've obviously seen continued declines really for the last four or five months we saw. Brent crude over the last couple days go below 46 a barrel. Is there any sense that this is going to be over at any point in the next couple weeks. Shall on Thursday night. Not being people who have been on. Catcher hopefully sometime on in. Basically OPEC meeting on November 27 when you had a real film without the public matching oil prices. He's not really been dictate. Eight point fundamentals anymore it's estimated it would try to court the bottom of Koppen ankle stopped now and then they called that price has gone. I think you know Putin to collect his appointment in the bottom out. One thing is sure opening statement. At least the directory coming out to play the fact remains unchanged. The price of sixty dollars Powell ultimately does well there again to maintain production that many about it. So obviously a lot of the large producers your multinationals have come out and said they're simply. Cutting there capital expenditures for the next year a lot of production. Essentially future production now no longer going to be happening. The smaller producers know how long is it going to take before they start to really feel the heat from the lower prices. Yes it is very interesting because historically when conventional production used to be signed dictate. That was a big time that between topics. Productions done production response since. Now with unconventional produces and number thank you Brian mentions more or Patrice is in the mix. If you are in retreat cut picture continue production response within one month or two months. Authorities aren't coming out the US senate for them and they can take you rig count and trying pretty steep fall. Now lost an efficiency gains TP. Can be achieved in the US have in the extended before letting them out on Friday leash. For a week or week decline of around sixty. I think the peak to trough decline in brick counted over 190. Rick sweeping. Delayed production data plan when available well the rate at which US production is growing. Has already started criminal. So even with the energy industry in the US being affected this is still going to be a net positive for the US economy correct. To a certain extent I mean the US state simple. Picked off seven million barrels a day of crude. Clearly if it's. Getting. Price and opportunity it would be beneficial full be consumer and the US. What when he walked obviously how fast the prices on word we're now you know sixty plus percent off the highs that we saw last year. What exactly what is that your your final bottom I mean is this something. That is going to continue Ian down through forty into the thirties what are there any realistic projection or do we simply not know right now. And I you know right a lot of they'd been through it employment concentrating and chromosomes and speculated in today. Therefore mean. There was resistance on the fifty dollars a barrel and went straight we've non next resistance around inequities 44 dollars a bottle full forty don't know that it unconscionable. Agent Keith came through that think. The point finale if you look at content if you look on them they should look under the numbers they just. It's shying away from calling the pot and because he's not being dictated by supply demand fundamentals. So obviously you know you look at this and we've discussed the effect on stocks in the energy sector but. Lower energy costs are actually a boon to other sectors of the economy correct. I think that the Fed statement. What what areas in particular are likely to see the biggest booster were talking just transportation stocks but it. In other areas she significant boost as well. Yeah I mean. And we've said that you know and it's the or any team that costs to Kiki on a global basis. For every ten goals for the you expect appointee to point to point these two GDP. So you would expect that it Condit. It would. Implications across. The media spectrum al-Qaeda small lake it's the Asia which is more in 1910 is. But the issue is that in Asia we are seeing neutral were slowed down intensity and sense that. A number of economies. Or using these period doctor no approach is to blame the current trio farm subsidies. And say you have seen this slow it demands. Responds to the and or any cheap prices and that for. You weren't necessary again apple gain on they GDP apple I mean could it affect say that you would expect. Anywhere elsewhere you costs of calmed down bought 60% and you expect material came to them. GDP the moment and TT. Different policy the economy. The man when not enough for a number of reasons that battery across the. All right over under appreciate you coming on with us today thank you for the insight here. I all right that was for under a child on and an oil analyst at energy aspects and certainly this is the major story that has really dominated. The markets over the last six months this along with what is the Federal Reserve going to write those your two biggest stories out there so. Very interesting that again based on everything that we're seeing. You know it's very difficult to price in whether this is a bottom when there's more to go here there simply is not an updated in either direction and so I'd be hesitant to make any moves. Based on the day that we have. This is the financial exchange on the financial exchange radio networks. Investors searching for relatively little risk investments that can easily be converted into cash often turn to certificates of deposits or CDs leader bank is currently offering an eighteen month CD with an impressive one point 25% EPY for new accounts with these kinds of rates now as an ideal time to take advantage of this great opportunity from leader bank to learn more about the eighteen month CD with a one and a quarter percent AP why call 8776917. 900 today or visit one of leader banks conveniently located branches in Arlington Belmont Cambridge or Burlington earned more interest on your money today stopped by a leader bank branch or call 8776917900. To learn more -- bank a step ahead minimum deposit to open and -- annual percentage -- as 1000 dollars Massachusetts residents only penalty for early withdrawal including -- penalty which may reduce earnings -- subject to change without notice member FDIC rate effective November 4 2014 this is very strong and. Joined today by estate planning attorney Todd what's key from the law firm Cushing in Dolan. It's time for your legal exchange quick tip of the day were talking today. About the different ways that you can only real state and taught I wanted to ask you this one. What are the implications of transfer your whole C just take your home and you give it to your children. In order to protect it from the nursing my ex he had somebody asked me this yesterday sixty years old. In the heard about this thing transferring using only the state here. Kind of makes my teeth itch. Really you know GAAP putting your kid's name on anything while you're living is frightening with or without the light for states a year question was interesting it was. At least using a life estate does provide the parent the right to live there that some protection I. I feel better about that. But I really don't like having the children's name. On any property for the following reasons one when you do that it's a completed gift to you've lost all control over your order anymore. I worry about if the kids go through divorce an ex son in law the ex daughter and when your house like. Number three is it you know Ali you know I don't you've now subjected manager just said Barry took their creditors and president. Necessarily have to be divorced does he could be a lawsuit business failure anything. Could be any creditor so they don't basically that creditor has the ability to get the asset to pay them back which means you lose your home I certainly don't like that idea not to mention there's also a tremendous amount of tax problems associated with doing that so don't. Don't do that. Our rate I've got some advice for you learn the best way to old and protect your home your vacation home in your rental property. Call for Cushing and old brand new guide to the risks and rewards of real estate ownership 8668485699. That's. 8668485699. The guide will teach you all about the risks and rewards of real estate ownership. Whole free 8668485699. If. You're thinking about retirement in the next few years it's time to make some big decisions do you know how to change your investments from a growth portfolio to one which generates income do you know when the optimal time to collect your Social Security is did you know that if you lopped from monthly pension that income can be at risk for the nursing home perhaps a lump sum pension option makes more sense leaving a legacy for your spouse injured children there's so much consider before you stop working and we've put together a 26 page you re tie aiming guide they can help 8668106422. You've worked your whole life saving towards retirement doesn't make sense to get professional advice to make it last 8668106. Ford to teel. Securities offered through securities America ink member finreg as a PC an advisory services operative securities America advisors and Barry Armstrong represented at Armstrong advisory group in the securities America companies are unaffiliated represented as of securities America do not offer legal or tax advice always seek the price of a professional familiar with the laws in your state. Hi this is very Armstrong from the financial exchange recently I've been hearing many reasons why we should consider buying gold geopolitical uncertainties stock market corrections you name it I don't disagree with the idea of buying gold but I have always been suspect of the ads that I see on late night television or even the ads frankly that I hear on the radio I like to buy gold from a local institution that I trust I owned gold and I bind my gold coins from leader bank I walked right into any leader bank branch and I can buy American Eagle gold points leader bank is a local bank with. Branches in East Arlington Arlington center Arlington Heights at Belmont Burlington and Central Square Cambridge bank locally and buy your gold coins locally it just makes sense give leader bank a call and learn more about their gold coin programs 8776917900. Or visit leader bank dot com leader bank a step ahead not a deposit not FDIC insured not insured by the federal government agency not guaranteed by the bank may go down in value. Follow Barry on Twitter at Barry G Armstrong its Barry Armstrong and gene Kerrigan. On the financial exchange radio network. Welcome back headline today it's inherited and tips on. Who are here on the financial exchange two and get their first. Trivia question out there today what's the capital of Minnesota. But without when I do you know. Loan. Let's get I've been to this city many times peoples and by the way never been there actually have been to Minnesota but not in this into the city yeah. A beautiful city what is the capital of Minnesota if you Libyans seeking Texas at 68680. We would love to hear from Munich he'd like to weigh in anything they were saying today. We certainly would like to hear from you and again number 68680. Story day about how. Public defenders and prosecutors in the state of Massachusetts. Are paid. So much more dramatically. Blow. So much lower. Van some of the year counterparts in states surrounding us. And there's a push now to try to get an increase in funding for prosecutors and public defenders in the state. And the reason behind it is because those in power saying that number one the turnovers too dramatic because of the lack of funds and number two. We get individuals in these jobs who may be here now is competent as the individuals who are these jobs in the states. But let's compare the numbers in just talk a little bit about it the Massachusetts bar association found the public defenders. In this state are paid the lowest salary in the country at 40000. Dollars a year. Yeah and when when you adjust that for the cost of living it below. Everywhere that's what's so so mind boggling about this is that you know there's certain places where. I raised agreed that you need to make sure your being careful with taxpayers' money and I'm not saying to be. Reckless with the here. But I just look at myself and it's okay what happens if I ever ended up in a situation where I couldn't afford an attorney from time. And you know I you need to provide protection. From people being taken advantage of and I think that's the big thing that this comes down to here is. Will there are a lot of folks in -- not even talking about people who maybe you know can't workers are working you're talking about folks who may be elderly and not able to afford an attorney and maybe take advantage of by landlords and things like that all kinds Owens when you know not just talking about people for criminal crime you know talking about who may be charged lets you know in civil cases and things like that. Simply you know four you know money and it's a case where you need to make sure that those people were adequately put. Tactic that's right Neil I think people who are public defenders don't necessarily go into that line of work thinking I'm gonna come out this. Like a partner in a big firm now somewhere they don't know what they're getting into and a lot of times people at first I think it's a calling for some people and secondly. I think a lot of times they do it for a few years because it was a calling an ending up on anything it's understandable but having said that. And he quit to be competitive when it comes to. These positions let's take a look at how it compares to what we've said is that the average public defender in this state. Makes about 40000 dollars a year well let's take a look at public defenders. In other places and two that we have that number to. Yeah this is the big things that you find essentially what they want to do. There was a commission that came out last December that essentially recommended over the next three years. Increasing that annual salary up into the 55000. Dollar which makes them a little more competitive states around correctness. It's I think the big thing is when you look out what this means in comparison to other states simply you know it allows you to attract talent that is still going to want to stay in stations are opposed to if someone says well if I wanna be a public defender but Massachusetts just too tough for me actually live there and then they had to some other states are pleased this allows you. To keep that help because the other thing that he'll realize. About a lot of these public defenders they have one of the highest turn over rates at of any job in the state simply because it's so understaffed it's so prone to burn out. That you look at what these people do. And essentially they're grinding out case that no one else is to try to take their game taking on cases that in a lot of cases the Dak maybe stacked and stacked against them. And I think it's very difficult to be able to say someone while. You're gonna be getting all these you know these keys that don't want and you're gonna have to live on a salary that especially if you're close to the city of Boston got to keep in mind not all public defenders are living here on the Boston route one that's right near Springfield and west and the state but if you're in near Boston. You know trying to say okay if you're working at you know the courthouse downtown. Well OK if you can't live your boss now you're taking on extra commuting costs and taking on his so. It you know you really need to make it competitive so that you're not adding additional cost somewhere else down the road. Well and I would say this with all due respect for. All of these other positions that you know keeping in mind that a public defender is an attorney. And has paid for law school itemize the law school gone through all that one must go through to become island an illegal attorney in the state. And so you've got this public defender who's making forty grand and you compared to some of the other positions in the courthouse and by the way we near when you're an attorney like that. Your work is not just what happens there in the courthouse that day right what you're working nonstop all the time. For some kind of case and then you look at these other salaries. And you say wow. The law librarian for example and again no disrespect the law library but the librarian. Is making 66000. Dollars up. While the public defenders making four. Well and I'll look at this nice OK look I understand the law librarians important but the public defender this is something that's based in the US constitution's sixth amendment guarantees you right to counsel and I don't want my counsel to be the lowest common denominator that's you I'm not saying that you're you're you're obviously can be able to get the best person for this job and every situation because. Some of those people chased the money and they'll go to will be firm and do what they do. But you want to be able to make this a job that you know you're not just getting someone who says okay I'm gonna do this for a year just you know Sharon look good on my house arrest and you want people who say you know what. I'm not gonna make a great living out this guy can make a good one in gonna be competitive right and I'm gonna be able to serve the people who need well. This is even more disturbing chucked him made the assistant district attorney. Now the assistant district attorney is the person who's doing. Who's misrepresenting that the state up immediate district attorneys were rarely in court and an involved directly. In cases of the assistant district attorney these are the footman of the district attorney's office that they make less than it's a public defender. They make 37500. Dollars they make less than the custodian. In the courthouse. In the building who is making 38. 1700 Dan what's one of our listeners to Texas and as well is saying that exact same thing you know it's. This person representing me as as it taxpayer in this state and a lot of these case right in this as you know I think where people tend to. You know get upset about government is that. He's the types of programs that you need to be able to support you need that because if you can't maintain the rule of law provide. Capable protections for all citizens against other ones. What are we really do when he crashed so this is where I think you know. Everyone needs to be of say look this is something that's important McCain is. Eight let's say that I have a parent who can't afford an attorney if you know what it. Everett may be right you need to make sure that you have capable qualified people that are in this role for the long haul because that experience is just as important you don't want someone. Who's coming in with no courtroom experience no idea what to do you need people that are qualified because again I'll look at and say look. What if this was my mom or dad whom I have no ability to afford an attorney and I would absolutely want someone who's qualified capable has been their role. Listen I'm looking at a on the other side of this whole thing looking at thinking to myself that I see a lot of cases that I wanna make sure there's someone in the courtroom representing me as. As a community member in the commonwealth. And and making sure that might interest or protect what you remember when you know these these assistant district attorney's that's what they do we we did just. Earlier we were read report on state couple years ago that when we looked at the MBTA and we looked at parking garage attendants game at a number of parking residents who granted through overtime and such were making over a 100000 dollars a year now what I understand that you worked overtime but there's no way. That don't work that you're doing making sure that the parking garage is you know secure is anywhere near as important is this and that's that's something that's a problem. Well and I go back to the fact that these people have spent all this time educating themselves and taking steps they had to do take these jobs. This is that this is recommendations that are moving through the Statehouse course all of this coming at a time when our governors to spur hiring freeze. In place but we'll see if that will move its way through and eventually we'll see. An uptick in the pay for assistant district attorney as well some public defenders here in this state and by the way. Thank you guys for texting in and joining this conversation six incidences told makers in the pike making seventy grand yet. You know and you get your public defenders who have to take out loans or they end up a well this person says public defenders can have their loans forgiven. Gas inside the official business so what their goal this episode and it's enough right there when you're seeing numbers like that and look I'm not saying that if you're working. As tall take you're not entitled to earn a little bit outrageous angry now there's something wrong if a public defender who's providing a service for every single person in the state amassed this is important to everyone it's not just whether. You know years it regardless of who you wore this is something that is critical to the functioning of our country's built into the constitution. And it's incredibly important and I think that. It unfortunately is kind of fall by the wayside in recent years you've been. We'll take a break it when you listen financial change. This is the financial strain on the financial exchange radio network yeah. According to a recent survey conducted by January at the average cost of nursing home care in Massachusetts is a 134000. Dollars per year how quickly would you or assets be depleted if he had to write checks to the tune of 111000 dollars every month while it's certainly ideal to develop your asset protection plan in advance like tends to get in the way if you or loved one are faced with an unexpected nursing home stay. You haven't done your cleaning. Before you write that check pick up the phone and get some expert advice the block from a cushy union Allen has put together a brain you guide for 2015. Called cleaning for procrastinators. You cannot put off this call any longer call right now to get your free guide and learn how to protect your assets 8668485699. Don't impoverished your spouse or use up your kids' inheritance coughing you're free procrastinate is guide right now at 866. 84856998668485699. If you're thinking about retiring in in the next few years it's time to make some big decisions do you know how to change your investments from a growth portfolio to one which generates income do you know when he optimal time to collect your Social Security is did you know that if you lopped from monthly pension that income can be at risk for the nursing home perhaps a lump sum pension option makes more sense leaving a legacy for your spouse injure children there's so much consider before you stop working and we've put together a 26 page read -- aiming guide they can help 8668106422. You've worked your whole life saving towards retirement doesn't make sense to get professional advice to make it last 8668106. Fort YouTube. Securities offered through securities America ink member finreg it's like PC an advisory services operatives securities America advisors and Barry Armstrong represented at arms and advisory group Ministry's American companies are unaffiliated represented as a securities America do not offer legal or tax advice always seek the price of a professional familiar with the laws in your state. Are you thinking about transferring your home to your children in order to protect it from the nursing home. Did you know that if you do you put it at risk for your children's creditors including future divorces. You really wanna write a check tear former son or daughter and not just to buy the Acura own home. Not only does transferring put your home and rest it can also create a huge capital gains tax when they salad. Right now the federal capital gains tax can be as high as 23 point 8% and that's an addition to your state taxes. 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For new accounts with these kinds of rates now as an ideal time to take advantage of this great opportunity from leader bank to learn more about the eighteen month CD with a one and a quarter percent APY call 8776917. 900 today or visit one of leader banks conveniently located branches in Arlington Belmont Cambridge or Burlington earned more interest on your money today stopped by a leader bank branch or call 8776917900. To learn more -- bank a step ahead minimum deposit to open and earn annual percentage yield as 1000 dollars Massachusetts residents only penalty for early withdrawal including iris penalty which may reduce earnings rate subject to change without notice member at the secret effective November 4 2014. Well best in business is right here Barea arm stroke and can carry him. On the financial exchange radioed Edwards I. Welcome back everyone when it's our first of the question for you before we introduce our next guest. Our question was what is the capital Minnesota and the answer is Saint Paul. Coast Minneapolis Saint Paul make of the Twin Cities but it's saint Paul's side that is the capital of Minnesota. Virginia knew that she's in Kenton and we think Virginia very much for listening we're so happy to be part of our audience. And we are fortunate now to bring in Mike Robinson from the Motley Fool and might get thank you for coming on with us today. It my guess or another I wanna talk about the stock Nike and obviously most folks are probably familiar with the company I'm sure if they watched the national championship yesterday they saw organs uniforms probably not the way Nike wanted them to. But in terms of looking at this from a pure investment perspective. What's the thesis when you look at this company right now. So that he is really relies on nights he's branch and organs actually wonderful example of what night in view I mean. These everybody's at least we will always looking to see what organs gonna put on there all on their players week in and week out and that's what night he had built. It'd be pretty mayor premier brand and Orton athletic apparel and up something from camp for everybody. And they're able to do a track. The biggest names in terms of marketing and that's what they focus on at the beginning. Is it is marketing and outsourcing distribution and and manufacturing. And be an early port and that's really where he did this business is ranked. And despite being an eighty billion dollar companies those chilling wonderful growth and kind strengthen corporate. Thirty concerned with the company potentially trading in a little bit of high valuation now let's take a look great out that gets about 25 times forward earnings should that be a problem for folks who want to invest in it. I'm not for the long term investor. And yes big east and make anecdotal. Inflammation in the last quarter spelled out if he and earnings per share were up 5%. And then within that the greater China region at the growth of around 21% so. Despite total spelled being around thirty billion into the big big company are still growing very quickly. And when you looked out by the view that is still relatively on a market for so. Act the multiple though it does traditionally been kind of I if you're if you're a long term investor like the future among people. I think that it is a great I'm accompanied app money and and I think it and then beat the market from here. How much do us some of the new trends also with regards to you look at wearable technology and so forth how much does that play into their future. I doubt I'd be thinking it plays a boy and made based addressed this before and it's something that they're testing. Op would still I think in the early stages of where wearable technology or at least the athletic side. But it's something that they've recognized and I'm I'm Burton given their brand of bumping that they will be that while. So when we turn out to look at a you know a little bit of a different company here okay this. Very different company actually we're talking about a now moving on to Core Laboratories. Okay. And this is it really providing services and oil and gas industries. What exactly are you looking at with regards to this company right now because. But overall this is sector that I know a lot of folks have been staying away from recently. Yeah it really isn't really what these guys are about is there anything you'd you'd keep the exploration and production companies. In the US and what what will be important here but just very quickly what they do it they ample and analysis or. Well below what company drilling companies report basically pulling out of the ground. And they've been doing it while they've built up in database would allow them to go in and help perfect. Drilling and exploration. And and make things more efficient. And more profitable for you keep him and when you have oil prices like we have today and become more and more important and if you believe that oil production in the US. Point to continued world which I've. We believe it will then we think or lab is an asset light business is a great. But he's we have money in the market and build it. You being but the returns in the financial statement this company's very profitable. And I and I think it. A good way to go especially here. Now as you mentioned they deal a lot with supplying VIE and of by the energy sector how exactly you know that's not an area that a lot of people were bullish on right now in the next years or so is this again kind of a longer term play that you're looking at. Yeah yeah that would be a long term plan again it is you think that. That. Production in in the US in north American and I continue to grow over the next five years read a five. Years then this is a great as that money is generated. But yeah I'd definitely. Aid in long term play it could be a little bit thoughtful. Oh in the short term but over the long term I think it would be a good company and a good way to get exposure. What's happening in North America and the world production. All right Mike I appreciate you coming on with us today thank you off for the info on these two companies here. No problem. Absolutely that was Michael Robinson from the Motley Fool again those two companies if you do want to get a closer look at them. The first one was Nike with a ticker and KE the second one. Core Laboratories with the ticker CLB's. So hot Amazon taking on a new roll out at the University of Massachusetts in Amherst to be heard about this yeah and it's pretty cool it's a pretty big deal what really deal. What Amherst is going to be doing what UMass Amherst rather is going to be doing. They're going to pretty much be buying all of their text books from Amazon.com. And so pretty much they are replacing the current on campus textbook store that's run by folic corp. Anderson instead they're putting in really Amazon did. Tribulations that are pretty much just to service the campus right so kids will be able that you can order online books but you'll also be able to order haven't delivered. To a location on campus if need be and then you can also they'll have a storefront very smallest to Wear front in the student center. Where he can run in there take a look at the list if you need to our our teacher any issues. But maybe couldn't take care of on line but what's really terrific for. Students in the reasoned that UMass was really interest in this is that it's an offer of 31% savings. For students each year so we're talking somewhere in the neighborhood of 350. To 400 dollars that a student will be able to saint. On their textbooks which we all know is one of the biggest rip offs and you know when you're in school yet people buy your book for 200 dollars mutual pact for forty. Yeah maybe you you'd you don't realize if you haven't had an acute in college in the last ten years you don't realize how expensive textbooks are a lot of students spend anywhere between a 1015100. Dollars a year. On textbooks right now that's not included in the cost of tuition tonight it's you know this method that's out of mom and dad's hot up. Above and beyond right and normal cost of tuition and I think it's one of the biggest things. There also needs to be addressed in college because right now you'll get that number is spending between four and 6000 dollars you're going to a four year college textbooks that most people again they still back after for nothing they don't keep them for the rest of their life who needs your psychology one on one book if you're a math major. So success it's certainly a very good situation I think it's brilliant. On Amazon's part is definitely is still there moving across the country. It's back to school time and it's time for you to brush up on your education about estate planning. Did you know that from married couples you may be paid unnecessary estate taxes if you don't have a trusted place. For a married couple in Rhode Island this gift to the government can be as high as 100000. Dollars for two million dollar state. I don't know about you but I had plenty of other people in my life that I'd rather give 100000 dollars to. Pushing it Dolan has put together a brand new guide called back to the basics. A guide to estate asset protection planning call for your copy now at 8668485699. Don't lose your money to taxes call 8668485699. Back to the basics. A guide to estate and asset protection planning. Call for your copy now at 8668485699. Again that number 86684856. And 99. 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If you're thinking about retiring I mean in the next few years it's time to make some big decisions do you know how to change your investments from a growth portfolio to one which generates income do you know when the optimal time to collect your Social Security is did you know that if you lopped from monthly pension that income can be at risk for the nursing home perhaps a lump sum pension option makes more sense leaving a legacy for your spouse injure children there's so much consider before you stop working and we've put together a 26 page or reach high aiming guide they can help 8668106422. You've worked your whole life saving towards retirement doesn't make sense to get professional advice to make it last 8668106. Or two TO. Securities offered through securities America ain't number finreg as a PC an advisory services offered through securities America advisors and Barry Armstrong representative from China advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the price of a professional familiar with the laws in your state. Pat Boone here with a word about banks' safety you think your money in the bank is safe. Don't bank on it a generation ago bank account felt secure and they paid interest. This encouraged the virtue of thrift savings but today. Bank accounts paid virtually nothing and shifted from lower risk to high risk. For example did you know your money deposited in most US banks could be subject to limited withdrawal. And even confiscated by existing executive orders who we hear that's. And that's just the first of nineteen risks explained in a new 32 page white paper entitled don't bank on it. Still think you're bank deposits are safe. Yet this vital new white paper now call toll free 8051960. To 71. That's 8051960. To 71. 8051960. To 71 or at Swiss America dot com. Fight your favorite news photos and sports updates on your phone when HP mobile from the Associated Press the new HP mobile is now available for free and iTunes AP mobile where the news gets its news. According to a recent survey conducted by -- more at the average cost of nursing home care in Massachusetts is a 134000. Dollars per year how quickly would your assets be depleted if he had to write checks to the tune of 111000 dollars every month well it's certainly ideal to develop your asset protection plan in advance like tends to get in the way if you or a loved one are faced with an unexpected nursing home stay. You haven't done your cleaning before you write that check pick up the phone and get some expert advice. A lot firmer at Cushing and only has put together a brain you guide for 2015. Called cleaning for procrastinators. You cannot put off this call any longer call right now to get your free guide and learn how to protect your assets 8668485699. Don't impoverished your spouse or use up your kids' inheritance call a year free procrastinate is guide right now at 866. 84856998668485699. Your words hold on your checkbooks and give your portfolios break. It's time for the financial exchange with the very Armstrong and Kim Keller again. From Wall Street to your street Barry and Kim if god you've got to hurt he's the financial exchange with Barry Armstrong and gene Kerrigan. Welcome back it would the second hour of the financial exchange on this Tuesday it happened with the sentence here check on excellent side today. And it would denigrate our coming out for you in just a moment and talk to Joseph life from Wall Street Journal he tells them about life. This may once again be good time to refinance your mortgage. I'm Cassidy Swanson for is gonna join us from New Hampshire union leader to talk about. The upcoming proposed Olympics in Boston and what that might mean to our. Surrounding states and specifically in New Hampshire. They I'm looking at this is what could be your real possible boon for them in New Hampshire as well so we'll chat a little bit about that as well as. A story that it's come to the surface today about the possibility that we may be footing a portion of the bill for the. Amazed. We said this with this deal and we may be footing is if recently the only there's a maybe is because we don't know we have it right. What I I have been anxious to point out our listeners is this double speak it's been pointed out in his article from. And the Boston Globe so one channel that as well. A levee throughout our next trivia question before our next guest joins us what is the mascot for the university. If you know the text X 86 and you know this one I do knows I'm not gonna give it away I am gonna well one of I've always wondered if I mean you know the university of Minnesota is terrific and I've always wondered how they feel about this being their mascot but you know there's a mask I mean there's some dumb mascots at that this is not in the top ten right and so. I really thought the organ ducts were a little strange NTELOS sort of adjusted to bank as I never knew any man being done my personal favorite fighting blue hens though where well that is that I mean I think that's right up there near the top but if you look you got eats out in I know you at all Italy's. The sheets I mean look at Dartmouth with a big green what's is that we welcome we don't have anything islanders want and they're the big blue. So there you go the degree Lou when you know when you when they battle you get the big blue green it's that's how it asked. But fortunately now zig divert ourselves from the discussed collars were gonna bring on Joseph I. And Joseph let's talk about refinancing. And what we've seen just over the last couple years and that back when rates initially went very low. We saw a significant amount of refinancing that's dried up a little bit over the last year correct. I yeah definitely in the infantry having me had a deck between thirteen there was. More than a trillion dollars or. Refinancing and then last year that drops. Below half a trillion dollars a year that you had rates. Really spike up in mid 2013 you know if you remember those when. Ben Bernanke first start talking about winding down their bond buying program. And once that happens. Refinancing is almost completely disappeared. And then in the air another part of reason is that. A lot of people who could refinance have already refining and two a very low mortgage rate. So what's going on right now that may finally start to get people coming back through that door to refi again. He got a couple things doesn't happen at once creating a little bit a perfect storm. One in overall rates are low again visit their pact has three point 7% on your typical thirty year fixed rate mortgage. But to a couple days ago that Obama administration. Announced that they were lowering their premiums charged. I have federal program that's really popular among people who are making a low down payment to the Federal Housing Administration probably killings at stepped up. Reciting FHA mortgages. This of those guys are lowering their premiums from one point 35% to point 85%. So vat reduction combined with the low rates might make it increasingly people turn recite yet. So when you look at everything that is going on right now and obviously you've got rates low you know really did the ten year treasury if you look at where it is right now finally back below 2%. How long is this expected to last demeanor lenders trying to package many people as possible. In the next month tour is this something that they think is gonna be there for an extended period of time. What day it is definitely a sense of urgency among lenders like talked to a mortgage broker. Yesterday he said that his office in the last couple days after the Obama announcement. Culled more than a hundred people you know trying to get them ready to to refinance. Touch another lender. Who's are you planning to hire 500 people send it to as deal with an articulate finances. But it's important to remember that everybody says that rates to. We're gonna rise for. You know ever since the financial crisis in every year something like 99200%. Of economists predict that rates would rise up. And they've almost always been wrong days they were generating meat when he thirteen. But other than that rate it's continues they'll which had a tremendous. How unpredictable rate star and Howell. How you know how much of that idea is to try to predict trade. I talked me a little bit about what's going on now with the FHA program with the reduction in those insurance premiums what exactly can that mean in terms of savings for someone who's taking out alone. This is somebody's taking out at 200000 dollar mortgage for example. Which see is about a thousand dollars in the first year of the mortgage because you're only because of that premium reduction. So eat it's fill the White House thinks that that's gonna push another quarter million new home buyers into the market who in Nevada home otherwise yup. And is also present day today has stating he's something dollars a month. Could it could actually push a variety of the edge but it really are a lot of homeowners out there. Who don't Mitt meet the strict you know debt to income requirements for example that are needed to get a mortgage. So for those that commercial buyers who really could kind of push them over the edge and make buying home makes cents. Now there's some statistics from the Mortgage Bankers Association says that. That 60%. Of homeowners. With a government backed mortgage already have a mortgage rate of below four point 5% so. Does that mean most of those folks are going to be interest it even at these lower rates. Yes that's fair to say Amy as a as a general as a general rule of thumb. You wanna see at least a percentage point underrated Q for refinancing makes cents and less to make up for the costs different closing costs they have to pay when you close of market again. So for anybody misery below four and a half. You know being at three point 7% right now that's probably not quite enough of an enticement to refinance again. But that's because in part lies in negotiations announcement is such a big deal to you guys that. You know point eight percentage plane drops since since may 2013 yup and then he acted perhaps point drop in FHA insurance says does that the people who are most likely gonna be able. Be wanted to look at refinancing or people who got a mortgage and between thirteen when they had sent for an half percent rate. And they were being charged one point 35%. Further FHA insurance. Of course is for those people refinancing might actually look like a good deal for the first time in a long time. All right well Joseph I appreciate all the info here and I know our listeners do was well so thank you and I'm sure we'll be talking in the futures while. No problem that was Joseph light from the Wall Street Journal and certainly get mortgage refinancings have been down the last couple years of rate says. A bit higher than they were. Previously. But I'm interested to see how many folks actually real. Come on board now you may see some lower fees you may see that lower mortgage insurance I wonder if you're gonna see more people starting to law essentially move. Into the mortgage market there yet adjusting to to so many of these banks they sort of unloaded gear every five departments you know got rid of all those folks yeah it is. But that does is it really dwindled down. They ebb and flow in and disobedient. Part of the banking community in the banking industry that's gonna come back pretty strong terms like. You know the next week is Sahara. January 20 the day State of the Union Address yes in fact that the state of the city address here in Boston tonight for those few. Who are interested and this will be the first from the Marty walls delivers one of these speeches heavily. Just sort of update you President Obama has been our big circuit through prayer that the president reveals his proposals prior to. The state of the union but he is out on that circuit around the country. Trying to generate a little excitement for this upcoming next to the last year of his administration. And he's talking about some of the proposals that he plans to outline during his speech on the twentieth. And one of the big issues that he is gonna talk about which is found. Sort of I guess out of character for me. A State of the Union Address but at the same time if you think about it it's such a huge issue facing this nation and that cyber security. And ironically enough this comes up and he's out actually speaking about it today. On day after Central Command. There are Twitter account was hacked and did you see how we attack yesterday I mean you know yeah I hit the way you. US and compact apparently. Early indications based on what was displayed there by crisis yes on the first question that I have as wide as US Central Command have a Twitter account. Yes Tom I am not sure who the aborigines are came to the genius it's that you need I don't I don't you don't want it there's no good. That the Dick Gordon rode the golden rule of Twitter okay is think of everything that could go wrong in there don't you would anyway right. Just don't do Europe's old social media for me period so I don't understand why US Central Command needs a Twitter account beyond that let's talk cyber security. Look nothing is completely secure on the Internet so the only way you have complete cyber security is if you are not on the Internet ads don't get away. Based on every single computer expert that I've talked to. Hackers are mine not miles had a hackers are ahead of any type of security that you can have if you don't know that you're being actor you don't think you're being hacked you simply do not have good enough systems so. Tell it to save that cyber security is a big deal. It absolutely is the question we've we've talked about this the last couple weeks the only question that you can ask about this is when you finally have the type of event. That causes real loss for people and then do people give up some of their convenience in order to move away from those types of systems. Well the president apparently wants to eagle eye he's going to be announcing he has been in this lead up to. The speech she's announcing all kinds of odd tightening ideas for debit cards that for Americans and he's talking about how. He thinks that private companies and the government need to begin to talk more about cyber security and how each side is going about it in an effort to be. You protect the American public in a better way. I I would be very surprised if that ever happens do we ever to write him speaking to the left. It's called Obama care didn't work that. If you got that right and talking to the right and that's right that's what what happened and try to get public private partnership that it doesn't and are not built to work together you can. You even with an interim government systems they don't talk to each of the the right way so it's. I I think that especially and computer security you're acting again. The type of collaboration that you need in order to make it work correctly. I mean I applaud the idea that we're making for a standard issues cyber security and I just seen the government and private industry coming together. To me all of us safe. And especially you look. At some of the deals that congress has tried to which the last couple years you look at something likes open that they fortunately were not able to push through. But you look at the types of bills they're pushing through it's yours it's it's the name of cyber security but really what it does it has been cut off content. If if they want to that's why I think that. You need to be very careful when going down now line because what the government wants to be able to view on the is very different from what the individual wants to be too sure absolutely and by all accounts by the way every cyber expert we have on the year last year and has. That the the obamacare website is the most unsecured website in the nation. It's not a pro am not sure that I won again I'm not sure that private industry getting any tips from the government now it's it's I mean look again that was a complete debacle wouldn't rule out there and I think that when you look at it and it's years years later your finally starting to get something. That's you know at the level of quality that you need to be yet it still is completely there. The answer to our last question of course was the golden gophers that's the university of Minnesota's mascot Joseph knew that a North Andover Joseph thank you very much for listening. We'll take a break ever when we come back Cassidy Swanson and generous to talk about New Hampshire's interests. You know Boston Olympics. It's Barry Armstrong and Ken Kerrigan. Right here on the financial exchange radio network. If you're thinking about retirement in the next few years it's time to make some big decisions do you know how to change your investments from a growth portfolio to one which generates income do you know when he optimal time to collect your Social Security is did you know that if you lopped from monthly pension that income can be at risk for the nursing home perhaps a lump sum pension option makes more sense leaving a legacy for your spouse injure children there's so much consider before you stop working and we've put together a 26 page or reach high aiming guide they can help 8668106422. You've worked your whole life saving towards retirement doesn't make sense to get professional advice to make it last 8668106. Fort UTU. Securities offered through securities America ink member finreg as a PC in advisory services offered through securities America advisors and Barry Armstrong represented their arms and advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the price of a professional familiar with the laws in your state. According to a recent survey conducted by -- more at the average cost of nursing home care in Massachusetts is a 134000. Dollars per year how quickly would your assets be depleted if he had to write checks to the tune of 111000 dollars every month but certainly ideal to develop your asset protection plan in advance like tends to get in the way if you or a loved one are faced with an unexpected nursing home stay in you haven't done your cleaning before you write that check pick up the phone and get some expert advice a lot from a cushy union Dolan has put together a brain you guide for 2015. Called cleaning for procrastinators. You cannot put off this call any longer call right now to get your free guide and learn how to protect your assets 8668485699. Don't impoverished your spouse or use up your kids' inheritance call a year free procrastinate is guide right now at 866. 84856998668485699. Investors searching for relatively low risk investment that can easily be converted into cash often turn to certificates of deposit or CDs leader bank is currently offering an eighteen month CD with an impressive one point 25% EPY for new accounts with these kinds of rates now as an ideal time to take advantage of this great opportunity from leader bank to learn more about the eighteen month CD with a one and a quarter percent -- why call 8776917. 900 today or visit one of leader banks conveniently located branches in Arlington Belmont Cambridge or Burlington earned more interest on your money today stopped by a leader bank branch or call 8776917900. To learn more -- bank a step ahead minimum deposit to open and -- annual percentage yield is 1000 dollars Massachusetts residents only penalty for early withdrawal including -- penalty which may reduce earnings -- subject to change without notice member FDIC rate effective November 4 2004 team. Hi I'm Joan Lunden and appear worried about your parent Carol Loveland living alone like I was. And you are reliable senior care information. And call a place for mom. The nation's largest senior living referral service you'll get free information on assisted living. Alzheimer's care nursing homes even important financial information. They had obviously researched every place not just given me names. They found me a place for which she could afford and it was magnificent. We're now. Very confident that she's safe and they just helped every step of who can't thank them. So if you're struggling to. Find reliable senior living information call place for mom this is a free service and you can trust them to help you. If you are struggling to find reliable senior living information for your mom or dad didn't call or go online to get the free help you need during this turbulent time call now 804677530. 804677530. Text your questions or comments to 686 AD it's Barry Armstrong and Ken Kerrigan on the financial exchange radio network. We'll be taught certainly Massachusetts this last week as did. Our fear for the 2024. Summer Olympics Austin who's getting the nod from the US Olympic Committee and now go on to the International Olympic Committee in about two years so we don't know whether or not. We will be hosting Olympics it's not quite that simple hug me it sounds like while we just also have to wait at least wait and all of a sudden so much that's how well it's going to be for me by the way is Ty will not be directly involved but. What I hadn't really thought about much over the course of the last week is how. Other states in New England might benefit from the united they would be Olympic obviously it would not just be Boston. That could possibly benefit. Joining us right now toppled more about that ease Cassidy Swanson and she is a correspondent for the union leader. Out of New Hampshire out of Manchester and test it first opportunity on Michelle thanks for joining us. You bet I hadn't really thought about this but New Hampshire and certainly southern New Hampshire could really stand to benefit from some Olympics here in Boston. Yes definitely on camera traditionally a very busy even our answer anyway at specially in the white mountains and Alley street and that argument that they industry they and it definitely reasonably of people but the thing spot and ready on that people are. Would want to explore that topic here in England especially in the region have been a great time here to visit the big anyway. Weren't against the bad and their support to bots and are providing comedy act there. I've been in cancer Ashley pilot Larry on the line is our box and speaking of doing that being embarked an a without greater spot in the book really watch out people and the people are going to be looking beyond just mad about that bind but the day. When he bogeyed the city easily and by the New Hampshire and read pollution back on the people are going to Spain against Iraq but by eating out restaurants are here. They eat it are packed shopping and a lot of money you need and they. Newton yet and that's what I was going to get into cast these teams like beyond just the hotels there's a lot of other businesses that could stand to benefit. From the additional travelers coming in so have you heard anything about Odeo businesses that are already excited about this there are you trying to get behind the idea. I have spoken to any business owners get respect that I did not. See our CEO would be a calmer and he has. Very excited about what you do for the economy is in particular scene wanna quote that the Bosnian in the future. Let's seems like you need is to be real. Boon for the Manchester airport is well. It could be a big that there were how it. One and the only other beside Logan optic and the only other airport there region not yet in property which are regional. Although I think they are starting by Germany later this year either that they don't have any bite that. It's gonna be people flying and small club on packed into the pot in his epic being a lot out. Happily spectators immediate. And Cassidy other locations in southern New Hampshire. Where athletes can take advantage I mean this is their infrastructure in place. Yeah I asked that we passed ballot stadium and all the stadium. And it meant that we have the Verizon area both of which could definitely be used as I were screening and eat out why. Abilities or Olympic event. But I have to be people in New Hampshire who don't think this is such a great idea. You know I haven't heard a lot of back yet so far. That. There will year. And crumbling and the thousands of granite staters is needed about everyday work as they battle in traffic as a as. I I think more pot and I but you are out there is the electorate feature IR RRC. And what he added that the state really get not yet. Any any kind of on an infrastructure to support the Olympic. Because it back and talk a lot of money ever be used backed up and I I mean about eating an arena. But I got that I just let it worry you dynamic we already that is definitely. You by the epic but that might not even be earn. I well it really raises an interesting idea for New England as a whole because for as much as New Hampshire can benefit certainly. They'd give folks on the Rhode Island could benefit out for the exact same reasons and of course in Providence with Kennedy Airport there in so there it really would be I think. Probably a positive thing for states surrounding us when it comes tourism in the comes to the support. Absolutely and I got he meant not because another thing now is gonna be. He played in orbit at an at a isn't your answer is he apple corps project with the for both expansion of the vehicle line up through the eight capital Concord but stopped on the way of Nashua Manchester but that aren't a lot of public support for expanding passed on your hands and it could definitely be the first to finally get it not. And I would add it up and one can argue that it permanent going to they are outside he. These Olympics people are out government here and the right now. Because they can the pop on the Indian Bob what an hour right now we app app I think that a lot conversations. I think you probably absolutely right and that's something that could benefit New Hampshire for many years to come. I'm that not electric that that the article going up or wild in the back it's about but I'd write a decrepit absurd merit he said that if he Muriel isn't. You buy the paper at any sport they think it's really got to curb or they have to ability to partner about the benefits picking. And test these want to thank so much for being part to show today. Not due to. I. It's very Armstrong and Jim Kerrigan right here on the financial exchange radio network. Investors searching for relatively low risk investment that can easily be converted into cash often turn to certificates of -- or CDs leader bank is currently offering an eighteen month CD with an impressive one point 25% EPY for new accounts with these kinds of rates now as an ideal time to take advantage of this great opportunity from leader bank to learn more about the eighteen month CD with a one and a quarter percent -- why call 8776917. 900 today or visit one of leader banks conveniently located branches in Arlington Belmont Cambridge or Burlington earned more interest on your money today stopped by a leader bank branch or call 8776917900. To learn more with the bank a step ahead minimum deposit to open and -- annual percentage yield is 1000 dollars Massachusetts residents only penalty for early withdrawal including -- penalty which may reduce earnings -- subject to change without notice member efficacy rate effective November 4 2014 this is very strong and. Joined today by estate planning attorney Todd ski from the law firm Cushing in Dolan. It's time for your legal exchange quick tip of the day were talking today. About the different ways that you can only real state and taught I want to ask you this one. What are the implications of transfer your whole C just take your home yet and you give it to your children. In order to protect it from the nursing my ex he had somebody asked me this yesterday sixty years old. In the heard about the same transferring music like this yeah. Kind of makes my teeth itch. Really you know GAAP putting your kid's name on anything while you're living is frightening with or without the light for states and your question was interesting it was. At least using a life estate does provide the parent the right to live there that some protection I I feel better about that. But I really don't like having the children's name. On any property. For the following reasons one when you do that it's a completed gift to you've lost all control over you don't own it anymore I worry about if the kids go through divorce an ex son in law the ex daughter and when your house like. Number three is it you know Ali you know I don't you've now subjected manager just said Barry took their creditors and does that. Necessarily have to be divorced as he could be a lawsuit business failure anything. Could be any creditor so they'll basically that creditor has the ability to get the ascent to pay them back which means you lose your home I certainly don't like that idea not to mention there's also a tremendous amount of tax problems associated with doing that so don't. Don't do that. Our rate I've got some advice for you learn the best way to own and protect your home your vacation home in your rental property. Call for Cushing and old brand new guide to the risks and rewards of real estate ownership 8668485699. That's. 8668485699. The guide will teach you all about the risks and rewards of real estate ownership. Whole free 8668485699. If. You're thinking about retirement in the next few years it's time to make some big decisions do you know how to change your investments from a growth portfolio to one which generates income do you know when the optimal time to collect your Social Security is did you know that if you lopped from monthly pension that income can be at risk for the nursing home perhaps a lump sum pension option makes more sense leaving a legacy for your spouse injure children there's so much consider before you stop working and we've put together a 26 page or reach high aiming guide they can help 8668106422. You've worked your whole life saving towards retirement doesn't it make sense to get professional advice to make it last 8668106. Port UTU. Securities African securities America ink member finreg as a PC advisory services offered through securities America advisors and Barry Armstrong represented at arms on advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the price of a professional familiar with the laws in your state. Hi this is very Armstrong from the financial exchange recently I've been hearing many reasons why we should consider buying gold geopolitical uncertainties stock market corrections you name it I don't disagree with the idea of buying gold but I have always been suspect of the ads that I see on late night television or even the ads frankly that I hear on the radio I like to buy gold from a local institution that I trust I owned gold and I bind my gold coins from leader bank I walked right into any leader bank branch and I can buy American Eagle gold points leader bank is a local bank with branches in East Arlington Arlington center Arlington Heights of Belmont Burlington and Central Square Cambridge -- locally and buy your gold coins locally it just makes sense give leader bank a call and learn more about their gold coin programs 8776917900. Or visit leader bank dot com leader bank a step ahead not a deposit not FDIC insured not insured by the federal government agency not guaranteed by the bank may go down in value. Yeah. Follow him on Twitter I KK carry him you're listening to Barry Armstrong and Ken Kerrigan. On the financial exchange radio network. Welcome back at once we've just chatted with Cassidy Swanson in New Hampshire talking about the benefits of the Olympics. In 2024. In Boston for the state of New Hampshire and by all accounts at this point which of course were very early in the game. The folks in New Hampshire and certainly in New Hampshire think that there could be some real benefit. For that stated when you think about it chuck ate it only makes sense of the things that. Some of the chamber of commerce leaders that there are saying absolutely true hotels will book appear. There are opportunities flight now and certainly they can take advantage of the ideas that it's summertime and people will come to vacation period. So while you're here maybe come for certain. Deems that you wanna see you might wanna go up to the white mountains and yup and do some other. Some other traveling here in New England to I think not only New Hampshire but a lot New England states stand to benefit if in fact here's the Olympics here's the problem. The problem. Is that hit. We're being told it you know we're not gonna pay finance. And now when you start. Cutting out some of the spin it feels like to me already we're starting to see it that's probably for. Well and that's you know the unfortunate thing is of course New Hampshire is excited because there are likely not going to be on the hook for any of the dollars or regarding the games but they get all the benefit unfortunately in Massachusetts it does not look like it will be the same in here to talk more about this. We are joined by Jessica Meyers she's the Washington DC reporter for the Boston Globe and Jessica thank you for coming on today. Our problem so now we heard all this talk before the bidding even during the bid and after it was perceived that. We weren't going to be on the hook for any taxpayer money and based on what's coming out now it doesn't appear that that's entirely accurate. That packet at the bit that that there four point five billion dollar operating budget with not involved poker taxpayer money. An end and it appeared that that might be the case there will probably be a pretty happy. That both price tag. By a lot of the security that will need to be placed litigate and that's where there could be body of the talk I far. And when we walk at the cost of that that security. Eight it's very widely over the last ten years the London Olympics. Were estimated to cost about one point six billion dollars for security cost. The Salt Lake City Olympics obviously had a significant amount of security spending so what what exactly where what's the range of projections for security cost for these games. I did all right we're talking about a decade by. If it 2000 into regular midwestern actors after 9/11 but up until at a cost an estimated one point five billion can't imagine what it could cost. It's funny funny or. Especially in Boston righty. Aren't as. So in terms of I guess when you look at. That overall cost here again words you know they're trying to say okay we overall four point five billion for the operating budget. That they're still saying is supposedly going to be able to be covered by private funding is that correct. But unfortunately these other cost what about infrastructure improvements would it does that fall and operating budget or is that something different. Though that could also be the federal government what what are the leaders are saying it that the proposal does not depend on the government approvingly transportation funding big stake. Been polite on projects that have already been approved eight C one billion dollar green might expect to get bored you public art. But they say is that not an actually poll. I'm technically sound them out for more money in that regard. I mean is there any sense that the federal government would even want to be giving this money to law the Boston did at this point I mean it's. We we've all seen how the federal government has tried to pull back on spending on these types of things in the last couple years is there any appetite for you know the state of California Wyoming to be giving federal dollars to Boston. For this. If re questioning got a lot of talk ethnic and and applicant allegation that there aren't a lot of political conservatives in congress and say wait a minute. Is that they wanted to Edwards campaign. So we'll have to see how that went out there is in it even some conservatives that say you know what it is a huge win for the country. It's a long term benefits the market and economic benefit if it were at a car that goes you know probably you know what's going when it comes down to. So when you look at this cost and this is I guess another idea that I have a tough time wrapping my head around if we look it. The 2008 Olympics in Beijing those cost about forty billion dollars the Russian Olympics last year cost about fifty billion dollars. How on earth are they coming up with this projection of four point five billion it's the tenth of the size. A well I am dorm room that's why. Government. The Chinese Government and the one. The attic and found that the government. You know we haven't seen he. Went five dollar budget so I would like. That always fills me with a lot of joy when it comes to lob big construction projects around Boston. And you know I know a lot of other folks you know they're concerned because they look at this and say well in of were gonna end up on the hook for this the taxpayers specially that the Boston the Massachusetts taxpayers can end up on the hook for this and if you see cost spiral that could be the case correct. Big you don't quite know but. The security it lots of big event there are what Homeland Security does that they designate a single and national title it's very bad. Not put the Secret Service to argue all the security Oka and and get really contradictory immutable to the and though it you know you wanna pay to have backed it. Well and obviously you know congress eventually if it comes down to security you don't know anything happened on US soil that's sure. It's it's really interesting though you know because we are only people associated with this so they can tell us to four point five billion dollar budget we're all gonna say okay. Because you know what how do we know that doesn't include security how to we know that doesn't include infrastructure how do we know what it includes what it as a. I don't provoke or more Brian Hayward can start. Sir absolutely. Well it. Outlook took for transparency. I think we'll get some but not all and and we'll see where it all shakes out we got some time writing it. Yeah. IRA owner and are able just I appreciate you coming on with us today thank you for all the information and I'm sure will be following up with the U. As we get closer to that final selection. It can't actually that was just a Myers from the Boston Globe and again you know you heard you know no taxpayer dollars used for the operating budget but unfortunately. Listeners said don't do it they said no taxpayer dollars right and that's the whole and it turns out that it's the operate on the edge and now and put an end. That's that's what leaves all of us just very skeptical about it because. Again I almost like I said it's almost been you know you you can come out and say it's a four point five billion dollar budget and no taxpayer dollars that. Well and and we don't know what that includes transparency will be the most important. Issue you know for taxpayers she would got to learn what this is about the four people can really get behind I would think. And again the big question that I always ask when is the last time that a Boston construction project especially one this complicated this. Intertwined with this many different things need to happen. When's the last time it actually came in on time and on budget. It's you don't you just don't have any track record so. I think there is you know citizens are rightful or within their rights to be skeptical about this on again I I would love to actually just. Visit the Olympic events I would love to go to them sure but I just I don't necessarily think that there's enough detail yet and I don't think. That you have enough faith in the ability to pull this off at the cost that they're statement. But I'm nervous about is that from the get go vacant senate. They'll be as transparent as they possibly be but keeping in mind meaning warning all of us out here. There has to be a certain level of secrecy associated with the bid because they don't want other countries and now what they're doing this is still debating its. Understand when I so what you heard it just like I did he underwent what what type of secrecy like look we're gonna built X facilities were gonna do this that. You know what needs to be done what the only secrecy is about where the actual money probably there's nothing what needs to be secret about this bit. Right what I would say what there has to be secret is how. How it can be funded because the the International Olympic Committee is gonna make decisions recently I think you can get it done. There's no doubt the Boston can get it done the question is can they get it done at the rate cost and so that's why when you don't have details that's why I start to raise questions there's no. I don't understand the need for secrecy on this because it's very it's not like. You know building a spaceship and competing with the right in trying to keep secret technology you're building a stadium right you don't we're not gonna be doing something different than right at what I don't know we're not have to building a competing product New York the product is the city that's already there not a secret and that's why I don't like. The concept of secrecy here you're not trying to build something unique CDs what's supposed to be unique already. Your children. We're gonna take a break everybody and when we come back into that little bit about partners health morals and talk about the wealthiest people in congress. This is the financial exchange. On the financial exchange radio network. Is your small business growing are you in need of a commercial loan hi this is very Armstrong from the financial exchange small businesses are the backbone of our community at leader bank we recognize your contributions and we want to help you meet your goals leader bank is a preferred lender of the small business administration and loaned millions of dollars to small businesses such as restaurants landscaping companies manufacturing companies and professional service firms call us at 8776917900. We take the time to understand your needs and we have a full suite of SP products to help your business grow among others our products include equipment financing business acquisitions and term loans for more information. Visit us at leader bank dot com or call 8776917900. To speak with a qualified loan officer are local decision making insurers a streamlined process and faster turnaround so you can focus on your business and leave that banking to us leader make a step ahead equal housing lender member FDIC. If you're thinking about retiring in in the next few years it's time to make some big decisions do you know how to change your investments from a growth portfolio to one which generates income do you know when he optimal time to collect your Social Security is did you know that if you lopped from monthly pension that income can be at risk for the nursing home perhaps a lump sum pension option makes more sense leaving a legacy for your spouse injure children there's so much consider before you stop working and we've put together a 26 page -- -- aiming guide they can help 8668106422. You've worked your whole life saving towards retirement doesn't it make sense to get professional advice to make it last 8668106. Port to TO. Securities offered through securities America ink member finreg it's a PC in advisory services offered through securities America advisors and Barry Armstrong represented at arms and advisory group in the securities America companies are unaffiliated represented as a securities America do not offer legal or tax advice always seek the price of a professional familiar with the laws in your state. According to a recent survey conducted by -- more at the average cost of nursing home care in Massachusetts is a 134000. Dollars per year how quickly would your assets be depleted if he had to write checks to the tune of 111000 dollars every month while it's certainly ideal to develop your asset protection plan in advance like tends to get in the way if you or a loved one are faced with an unexpected nursing home stay. You haven't done your cleaning before you write that check pick up the phone and get some expert advice a lot permit cushy union talent has put together a brain you guide for 2015. Called meaning for procrastinators. You cannot put off this call any longer call right now to get your free guide and learn how to protect your assets 8668485699. Don't impoverished your spouse or use up your kids' inheritance call a year free procrastinate as guide right now at 866. 84856998668485699. Mortgage rates are still at an all time low and it makes sense to take advantage of these rates whether you're refinancing or buying a new home leader bank is a local bank that's one of the largest mortgage lenders in New England with very competitive race ask their experienced staff about mortgage financing options and get a very competitive low term fixed rate for your home whether refinancing or buying a new home work a leader bank call 8776917900. Or visit leader bank dot com leader bank lent over one billion dollars last year to homeowners. In the Commonwealth of Massachusetts. They're the true experts in mortgage financing. Deal with the local bank today and call 8776917900. Our visit beleaguered bank dot com for all eager home buying or refinancing needs 8776917900. 8776917900. Or visit leader bank dot com or email. Loans at the leader bank. Dot com. Well best in business isn't right here. This is the financial exchange on the financial exchange radio that. Just final trivia question of the day what cartoon characters. Lived in frostbite falls Minnesota. He now lives in frostbite falls frostbite falls Minnesota. Cartoon characters. Texas it's X 86 Fabian going to be anxious to see if anyone now and watch atomic cartoons grown up yeah. I did not I wouldn't know the answer to respect I I don't know question what cartoon characters lived in frostbite falls Minnesota. 68680s. Or text number we'd like to hear from you. Partners in health care system. Big guy big event taking place in San Francisco. And there there. With during annual report in front of potential investors current investors. And he chief financial officer has to get up yesterday and for the first time in many years has to stand there. And say we're 22 million dollars. In the hole that we wanted an operating loss. They lost 22 million dollars last year first time in fifteen years which originally was to the remarkable consistency. Had. On terms of operating that network but the big question that it raises. Is they are going out there can actually be raising close to 600 million dollars. Four saw Marat capital projects that are going to be going on and so when you look at the financing needs to be done they're going to be issuing these bonds. And it raised some questions among investors about you know whether or not this is what I want to get involved who has now the big thing. Remember that a bond again it's simply is you own debt in the company don't have an ownership stand drew. So pretty much all that you want if you're a bond holder is the ability for that entity to make it payments on time it doesn't matter how much money they make and that's why don't. If you were selling equity at this point OK if they were doing an IPO or something like that okay. Very different situation in terms of what this would mean for the valuation there. Ford's debt it doesn't mean as much as long as you can simply go and say okay here's why it happened now here's why it's not going to in the future and here's why we're going to be able to meet these payments on the regular payment schedule. On the show a lot of other issues this year we're associated with the insurance company yet and they you racked up a number of losses with their insurance that they're hoping they're gonna be a one time thing but. The other question they are bringing on a couple other hospitals would most notably South Shore hospital. And so I think that there are some questions as how quickly and how efficiently they're going to be able integrate those. But again this is a company. It's integrated all of a number of the largest and most complicated hospitals in the world into their system with no problem. Hey you know I got. You have kind of an interesting thing going on chuck you know for the first went fifteen years they have they have negative. Operational budget then. There are there executive directors leaving in 2015. Yeah so I'm sitting here I'm an investor and going okay and I like that. And Moody's downgrades them. Almost downgrade it downgrade them again to still very high and vast right ring representing my point is just you kind of singers investors are okay now like that name. They have all this expansion going on that seems to be moving pretty darn quickly in a lot of cases as if I'm. Investor I'm actually looking at this and saying okay. If this is the situation continues its drive a harder bargain hunt in terms of what interest rate I'm gonna demand from the bottom so. I you know I look at this vomit investor as an opportunity I wouldn't be scared off again assuming that he can go through it all the financials meet. Again this is that a massive company I have no doubt. That there and and this is look it's it's a company that's been consistently. One that is able to churn out profits and be profitable Ford shareholders so if if I'm in there and I'm looking at all the documents and everything matches up on Wednesday well. Edged one next to actually 25 basis points on those bonds in order to make it a little bit of extra return for me so. You know I think again there are there's things to be concerned about old Abbott looked at that time when you make out best as an investor. Particularly when there are things to be concerned about the people who bought Ford stock when it was falling apart right people who were buying US government bonds when no one else what you know. That those of the people who tend to do well so. You know whenever I see something wrong with the company the first thing I ask is well you know isn't actually as bad as it seems and you dig into the numbers so. You know farm an investor I see this as an opportunity. To maybe squeeze a little extra value out of the deal more than anything else. Did you hear this story about congress. And the fact that congressional members continue to get richer and richer each year I did see this and what you actually see now OK the media networks than most would start the bridal fresh start in the medals for it. Median net worth for Democrats is 946000. Median net worth Republicans one point one million dollars. The richest. Five in congress we have Darrel Issa from California 448. Million. Mark Warner from Virginia 254 million John Delaney for Maryland 222 million Jared Paulson Colorado. 213 million. Dave trot for Michigan 200 million. Right that's at the top now the bottom is a little bit different. Right it's it's dramatically different bottom we actually have five folks with negative networks one is David about dotted with negative eleven point six million. Cowardly hero who do well loans he's taken out to support his dairy farm. Alcee Hastings four negative four point seven million Emanuel Cleaver negative 2.3. John Ford and very negative two million. Rubin had a host in negative one point nine million. So you've got a real you know really runs the gamut here it's all but again that median net worth is right around the million dollar mark regardless of what party here.