Sep 24, 2015|
Full Show 9-24-15 by The Financial Exchange
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
I. This is the financial exchange we've Barry Armstrong. The first greens stay on top of breaking business news and learn how to manage your money to help you towards a more secure future. And now broadcasting live from the insurer mention John John studios it's the financial exchange with your host. Barry Armstrong. Hi everybody welcome to the financial exchange carrier and chuck with you here. It's Thursday fourth day in a row we've been talking about Volkswagen but. We actually have a story that's gonna take priority over Volkswagen. Not a good story we do caterpillar well. Not a not a talk about catapult. Not a good story at all if you work for them if you look at caterpillar to caterpillar has come out and they have said that they're going to be cutting. Up to 101000 jobs through 2018 they don't know the exact timetable but they've laid out this three year plan and whether laying out a plan that far in advance keep in mind. I know something we don't know how to lower that tells you would oil prices are gonna do. Not just oil all commodities in and you talk about categories are heavily involved in in any type. Of mining activity copper silver gold all of that and so when you look at it. This is telling you that caterpillar is not projecting. Any quick ballots in the price of those commodities here and I think that when you look what that means means the downturn in China is going to be continued in its going to continue I think longer than some people are hoping for. And I think it means that your also in other emerging economies you're gonna see a spillover effect from that simply because of the deflation that's being pushed through because China. Jail that he if they've caterpillar story is you know we're just getting the tip of the iceberg here that. We'll track it and we will target the stock. Down about 7% since the opening bell stock was hammered and in and I'll tell you. But the activity the volume of shares within the first fifteen minutes of trading on that stock. It traded as many shares as it normally does during the entire day down the volume and he got very heavily. Trading in shares of caterpillar but you wanna get back to Volkswagen variety the this week we have discovered. Howell the Volkswagen. Story leaked if you will there's a group called. The international council on clean transportation using non profit European research outfit. And they hired the University of West Virginia for students at the university of western Virginia were contract to buy this non profit out of Europe. And they didn't have the equipment to test the vehicles that with the nonprofit hired them to do was to test the diesel vehicles. And see if they are meeting there emissions requirements. Yeah and and pretty much what happened is the West Virginia group went through and started testing these different vehicle all the all diesel will be a number of them and what they found when they when they started running these VW diesels. Through their tests. They didn't even believe the numbers they looked at the civil there had to be something wrong with our testing equipment has to be something wrong with the process that reasoning. Kept retesting in the same numbers kept coming up and so this is really how it was found out what's interesting though. This report. On these diesel engines. It was presented a year and a half ago this was back in May of 2014 when West Virginia made this public. And no one really did anything about it because West Virginia came out and said. But we can we can deal with that we have a way to the exit and everything they said it was fixed and then it turned out they didn't actually fix anything you said that they just said they've been so you look at and cover up continued. It continued pretty much until the beginning this week when they finally came clean and you have the head of VW America come out and say we may face years of huge and. Stay with which curious about the stories that unfold first the ball. I have no idea who this group is international council on clean transportation I'd love to know who funds them. Right when you love to know lately are they giving all their money from Toyota are there any getting all their money right but but not completely just think about it because. The speculation. Right he is that a competitor to Volkswagen is bringing them down. And you talk about doing a lot of damage to the brand. The some of these other companies are going to benefit what I'm trying to figure out is. You look at. The that the number of some cars that Volkswagen sells now Billy sell 500000 cars a year in the United States and their sales are actually down the last couple years here. But think about what they sell goal was eaten half nine million vehicles a year. Ya ya and NM on what you actually have pulled up some info on the international council on clean transportation actually isn't funded by any competitors now guess who funds it. George Soros now now it is the charitable arm of the former founders of HP's. However I doubt you'll Packard yep so therefore Hewlett foundation in the David and Lucille Packard foundation are the primary funders locating of the international council on clean transportation. Well that's that's who's behind right this discovery about Volkswagen. Now BMW can you put BMW shares because I know a few hours ago they're shares started to plummet. Based on a report that that same group the ice is what are we should should we refer to it as the ICC TI CCT. They came out and they said hey BMWs that same problem that Volkswagen has now that's contrary to what we learned in California. Yeah and BMW shares are down about six and a quarter to six and a half percent depending on the exchange that you're looking at. And this puts BMW shares firmly in bear market territory now for the last 52 weeks previously a high of a 123. Dollars a share. Now it's 75 dollars a share almost 40% there. You would speculated early on I think on Monday chucked that Volkswagen vehicles would lose a tremendous amount of their value immediately. Well you couldn't have been more accurate. A recent visit to Craig's list dot com. Indicated resale values on cars like this. Have fallen 20%. Since the admissions scandal emerged coach on Monday so I've actually seen in this was looking. And in Kelley blue book and on Edmonds. And for new were Volkswagen's I'm talking ones that are in the last one to two years some of the resale values have fallen nearly 50%. From what they were just a week ago and the reason is no there's no buyers for. No one wants to buy them I. I gotta tell you and I'm I'm maybe I'm guilty of taking the contrarian perspective far too often but. They're still gonna be a good car right you don't you don't know that oh I don't know if he is so they put the baffled why it isn't it their debt to install about on the car period the car turns into a golf cart via. Then the Volkswagen Golf is not the party want no matter and made and I I think the the the wood I've noticed in the past is that people tend to overreact. And I think if somebody selling a Volkswagen. For half of its normal value or half of its value a week ago. I'd be tempted does he may be looking into that as an acquisition because I don't think that when they put the proper. Baffled that it is so that's our net call and I notes there's probably technical title of the converter. Yeah wouldn't it baffles easier tip baffles me I think simply easier call about a the baffle right I can't believe it's gonna make the car 50%. Less effective well. Look at it from this perspective you have emissions that are in violation of the standard by up to forty times this isn't something where you can associate two or 3% reduction in power is it. If that was the fix and they would have done it already they wouldn't a gone through all this hassle so when you look at what the fix has to beat. If it was that. Easy and that simple and didn't affect things that much and why wouldn't they just do would to begin with and avoid all this trouble so that's why I'm working at an essay. Look they had to weigh the risk reward on the they had to know what was what they were getting themselves into because if it was just 10% reduction in power fuel economy. Screw it I'll do that I mean did it it doesn't cause any problems but if it has to be something significant in terms of reducing powered fuel economy and again this has been brewing for what three almost four days now in we still don't have an answer from Volkswagen as to what the fix is going to be right that doesn't. Fuel me with confidence that it's going to be something that's appealing. To a wide number of consumers. We have a major. The air give a major transition occurring as a relates to the leadership of this company gala. And and we're gonna move on to that topic in a moment will be joined by Kyle stock from Bloomberg VW talking about. Who's leaving VW we've got to board members leaving. The president of North American VW I believe is leaving the CEO of VW left yesterday. And we're trying to figure out who's going to be. The next CEO of Volkswagen Kyle stock is gonna share his thoughts on it we've got some speculation as to who will be. Before you do that I want to mention that Cushing and Dolan has come out with their 2015. Medicaid update it is a complete guide to Medicaid eligibility and last minute planning tap techniques. And tips to protect your spouse and family. If you were ever to enter a nursing home. For instance it tells you how much you're allowed to keep. Of York accountable assets it tells you what accountable and what's not accountable. If you want a copy of this guide call 86684856992. Available from Cushing and Dolan from the month of September I believe. 8668485699. It's your 2015. I Medicaid numbers update 8668485699. As I mentioned previously we will be joined. By Kyle stock from Bloomberg. There's basically so far anyway. Three people who have been identified as potential replacements for did their corn it's really with the corn isn't at W but it's pronounced in Germany with the V it is pronounced in Germany with the German names I've always said is that the best they are they are there as it anyway. Where are we talking about who's coming in to take the place of the CEO who resigned yesterday resign get fired who knows. Kyle stock Bloomberg News up next were producing the show from the insurer match dot com studios. Barry Armstrong. A financial exchange radio network. Mortgage rates are still at an all time low makes sense to take advantage of these rates will be your refinancing or buying a new moment leader bank is a local bank that is one of the largest mortgage lenders in New England with very competitive -- -- they're experienced staff about mortgage financing options and get a very competitive -- term fixed rate for your home whether refinancing or buying a new home work with leader bank calling 776917900. Or visit leader bank dot com leader bank went over one billion dollars last year to homeowners in the Commonwealth of Massachusetts -- that true experts -- mortgage financing deal with a local bank today and call 8776917900. Or email -- loans as a leader bank dot com visit leader bank for all your home buying a refinancing needs 8776917. B 900 that's 8776917908776917900. Or visit leader bank dot com member Jesse equal housing lender. Is the bull market about to end many analysts think so given the high degree of volatility that exist in the stock market right now and if they are right having a sound financial plan is bound to be one of the most important issues that you wanna be on top hi this is very Armstrong I've been helping my listeners with their financial planning needs for years and I'd like to help you too if the current uncertainty on Wall Street make you uncomfortable give me a call at 8552710183. And all review your current portfolio for free that's 8552710183. The appointment will take about an hour but wouldn't you give up an hour of your day to help you may better informed decisions called me today and set up your free consultation 8552710183. That's 85527101. 83 securities are for your securities America incorporated member NSA PC advisory services are the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Air air strike here and I'm joined today by estate planning attorney Todd lots from the law firm of Cushing in Dolan. With your legal exchange quick tip of the day we're talking about the different ways owned real estate but I wanna talk about strictly rental properties commercial properties that. Work family house they have near Yale it's the three Stanley that he had near holy cross you know the properties that are over near Boston College rental property sure how does one -- those and still protect themselves the biggest problem with rental property is the risks of a lawsuit to slip and all the parties someone got hurt notre if you want your own name folks then they're gonna -- use the property owner I directly and they you directly into Angela after every. You owning your own game your other vacation homes and home ever owned your commercial properties personally owned them in an LLC that the key I would set it up and some kind of a limited liability company wrote in the Aaron and even if you're liable only to lose is that one property. Yes let's play out the string and a company like that in the lawsuit happened and they're gonna sue the company and not you personally are not -- otherwise you could lose your your savings account you can lose your home he could lose your retirement accounts this way since they're suing the company that can only get what's in I company I've got it and not any of your personal aspects are always the way to go make sure you have the property protect it and even and make sure you still have an umbrella coverage still very important to have umbrella insurance to provide enough that the creditor protection. Learn how to own real estate specifically we're talking about rental properties that they do on that two family house don't own it in your own personal names at least that's our place called Cushing and Dolan and get their new guide called the risks and rewards of real estate ownership their phone numbers all 386684856998668485699. That phone call spree and the guide is very valuable 8668485699. Securities offered through securities America income members finreg SIPC and advisory services operative securities America advisors Gerry Armstrong represented at Armstrong advisory group in the securities American companies are unaffiliated. Follow along and enduring the financially and JoAnne bush give up a duck comes as the financial exchange. This is the financial exchange radio network. All right we're talking about. The W who's going to be the next CEO of VW Kyle stock from Bloomberg News is joining us now hi Kyle. Morning good morning so what are your expectations who are the three candidates. That we think are possible. Replacements for mr. winter quarter. Yeah I mean it's huge company it's got a number of brands and each of those brands has. You know a number of strong candidates most of them jump around from one to the other. Quite a lot but the the clear front runner right now that I'm tired Muller. Who is Leo Porsche he's kind of kind of the odds on favorite. He who is tight with winter corn. And he's done a really. Fantastic job what Porsche though. He sort of the one everyone is expecting. Kyle just looking at this from my perspective it would seem to me that when you need to rebuild confidence in your product you would want someone coming in. Who's a little bit more distanced from the situation obviously. There's knows nothing suggests that he was involved in this but Porsche and Volkswagen obviously have a close relationship at this point so. Wouldn't wouldn't they want to look outside potentially just get someone with a little bit more of an impartial appearance here. Yeah that would be hard I mean I think in the and sort of continuity controlled would advise that the question is this thing all unraveled so quickly. You know what kind of system to them in place did they have sort of a shortlist of candidate. Forest succession and which some companies do some don't and that's such a big company it really is sort of a farm system so that light. They've always like to promote from within and they elect people that a down around the Branson all the brands know how they work together. While this New York guy is is very a fan favorite of the biggest stockholder in. Volkswagen which is a family who would think and we isn't that owns all the shares of Volkswagen. Yes it's sort of it's a complicated a structure that technically. The Porsche family owns it. On Volkswagen and then more like an intern who owns the portable hand right. In the Porsche family likes Mueller. Yeah so they've been the other company has been intertwine from the start. You know that the portion name sake actually designed the first Volkswagen back in the thirties so you know they've they've been in that a long time. Inside the company you know Porsche is very much. It's very individual they liked says they like to do their own thing that would run their own way could even when they used part. An engineer from Audi informed on the other brands they put their own spin on on the kind of distanced themselves and really be something unique. Because they are municipal considered. I engineered that sort of been the most pure. Carmaker in the world so they really try to keep that that reputation. Prices got Mueller and then we've got a guy from Audi in another guy who's inside Volkswagen already is well and marketing capacity. Yeah. And apparently it all goes mobile will have an answer. Tomorrow when the board needs you. What are the odds. I I think it's in the Muller I think you know they need to move fast they need someone with a very good record clear record people. You know he's a young guy he's a good looking guy ease if you know good with the press he's also got sort of the the great background in the product guy. And he's been around he's done with everything a Volkswagen informality percent of all the brands but VW many went to Puerto. In 2010 and you know the portion of the story and 2010 has been. Just it's a rocket ship that the company has done no wrong and their sales took him. Been great their profit margin is the best in the auto industry in the world. So there's really not a lot of knock against him. You know the big effort from all this stuff is. Who knew why it and we're gonna find that out in the next few months but I. You know if if if Porter was out of the loop. You know he's probably. Of the people in the company. He's asleep us get the cleanest hands. No pubic. Merit what Kyle thank you very much for joining us appreciate your insights. Into their room temperature will Kyle stock Bloomberg News. You know. I I keep going back to the general motors' story. General Motors did not go outside the company that hired Mary Bauer to run that no I don't know if she's gonna be good CEO 'cause it's two world. Right she's only been there a year and a half yeah. But you look at the week she handled that. Chuck I had a tie I think Mary barrack may have saved General Motors a billion dollars you know because when that announcement first came out. The stock price that rate the markets were betting. 56 billion dollars and in nice settlement costs yup ended up costing them would who would we settle at 900000900. Million. Right and I think that was largely due to the compassion was shown by merit are now if this Fella Mueller has anything. I mean anything to do with this coverup. That went on for several years at at Volkswagen that he's dead in the water. Well I have to imagine that Volkswagen isn't gonna be dumb enough to put someone in charge who was involved in the top. It you have to think that they're Smart enough to do that but then again throughout this whole situation haven't done has really showed they're Smart enough to do anything and so I think that when you look at this it's definitely and from my perspective. I think look he probably could do it internally. But if I wanted the cleanest possible look. As they will give me someone from B until we get me someone from Mercedes you can come and who wasn't in the company to begin with and you can come inning clean his house and say you. You're talking about. A big multinational. Company one of the biggest corporations in the world to bring in an outsider I can understand why the board would be reticent they acting gay just. You look at that it's a tough culture to crack. I I understand I think that it's just when you look at the magnitude of what this is it is starting to show at this point we're talking righteous talking 400000 cars in the US now we're talking about a 1000011 million. Cars and just broke from my perspective I don't know of someone who was in the company I don't know if that gives you enough credibility just for it that's just how I look at it look they may end up doing a great job and now if if that happens only my awards says look I was wrong I was shocked to see how much cash looks like it's not point nine billion dollars they can afford. They can afford it now the big thing is they can afford it in the short term what really raises questions is what's gonna happen to their sales over the next three to five year. You seem to think they're gonna be devastated bad back I couldn't disagree with you more I think if he handled this properly if you come out and you apologize. You shed a few tears and you you settled us the the state disputes and the federal dispute as quickly as possible. Even doing it quickly still gonna take you three to five years right to do it but I think with Ian. I am very short period of time you can get people back in the Shrum I know your experience is different you you feel different. I think it depends on what happens with the cars actually if the if the cars get turned in the golf carts. They added that you're not going to give go to my VW buyers just by their nature tend to be very loyal they tend to buy. Repeatedly they tend to be long time customers of the company. And to betray that trust and look if you buy a you know a Jetta TD guy that you thought was gonna go zero to sixty. In six and a half seconds and all of a sudden you you're doing in 1011 seconds. You're not gonna buy one of those again. When we come back or talk about why the Japanese. Carmakers organ hammered. You're listening to the financial exchange from the insurer match dot com studio. Making your Smartphone even smarter. Dell logo mobile lab by surgeons financial exchange show in iTunes or those who. Who plays store displays the financial questions radio network. Hi this is very Armstrong and if you own rental property you're gonna wanna hear about this exclusive program offered -- -- bank it's called -- rent and it's designed specifically to help -- receive and deposit their rent checks electronically as opposed to having to wait for the mail call -- bank right now if you're interested in -- ranked the number is 8776917900. That's 8776917900. This program will automatically deposit your rent checks into your account and we'll help you avoid the hassle of waiting to get a check many landlords are suggesting that -- sign up -- -- -- upon the execution of their -- and why wouldn't you wanna do that once it's set -- you never have to make another change during the lease period that he rent is a free service if you have an account with -- bank and if not it will simply cost to a small monthly -- -- -- bank right now at 8776917900. That's 8776917900. Or go to -- red dot com for more information member FDIC -- chart here and I'm joined today by estate planning attorney -- -- from the law -- of -- and -- and with your legal exchange quick tip of the day. Todd we're talking about the different ways that you can own rules state and one of the things that comes up is and I've seen this before people own their real state in what's called a nominee realty trust. Obvious question is. Is that trust going to protect the home from real estate. And just as importantly will avoid probate when you die with your home in a nominee realty trust. Well protect a home from a nursing home most likely well actually I can tell you it won't talk in my time you go to your real estate lawyer residential real estate lawyer in and unfortunately put people in the why do you think. Don't know and it's not their fault they're just not in that business and so I think that they should always make sure you go to when estate planning attorney to get your trust work. Done OK and so in this case one is not gonna protected from the nursing home and true it may not even avoid probate folks if you have a nominee realty trust. Go look at the schedule of beneficiaries and all that you'll find that it might sell your name yet but they're not ideal mom and dad on their husband and wife I see that answer so what does that accomplish try to make you sleep in their own and we accomplished nothing that's exactly right it went right. Through the nominee realty trust right to them in and it's not even avoiding probate. And scary enough folks if you happen to pull that realty trust up and see that kid name as the beneficiaries. Then you gave it to them without even knowing it and you don't want that to happen make sure you figure out the right weight on your realistic. Learn the best way to old and protect your home your vacation property and your rental real state. Call for Cushing and old brand new guide it's called the risks and rewards of real estate ownership. 8668485699. At 8668485699. The guy discreet and so was the phone call to overeat. 8668485699. Is the bull market about and many analysts think so given the high degree of volatility that exists in the stock market right now and if they are right having a sound financial plan is bound to be one of the most important issues that you wanna be on top hi this is very Armstrong I've been helping my listeners with their financial planning needs for years and I'd like to help you too if the current uncertainty on Wall Street makes you uncomfortable give me a call at 8552710183. And all review your current portfolio for free that's 8552710183. The appointment will take about an hour but wouldn't you give up an hour of your day to help you may better informed decisions called me today and set up your free consultation 8552710183. That's 85527101. 83 securities -- for -- securities America incorporated member -- SAP C advisory services -- -- securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group in the securities America companies are unaffiliated. Mortgage rates are still at an all time low and it makes sense to take advantage of these rates when -- refinancing or buying in the moment leader bank is a local bank that is one of the largest mortgage lenders in New England with very competitive rates as they're experienced staff about mortgage financing options and get a very competitive -- term fixed rate for your home whether refinancing or buying a new home work with -- bank calling 776917900. Or -- leader -- dot com leader bank -- over one billion dollars last year to homeowners in the Commonwealth of Massachusetts -- the true experts -- mortgage financing deal with a local bank today -- call 8776917900. Or email -- -- loans as a leader banks don't come visit leader -- for all your home buying or refinancing -- 8776917. B 900 that's 8776917908776917900. Or visible -- bank. Dot com member of Jesse equal housing lender. Signs of your portfolio that matters. At the information you need the middle or break here on local and it's getting enough financial exiting the radio network. Yogi Berra was one of the greats and we are playing trivia today based on the career. Of the great you'll be there or even though he's the Yankees we love them. 68680. Is our text number wanna play along with us all you do is you text your answer to us he might win yourself a prize. What is it gonna call this I think term we have to change the name of the tribute today to easy trip. Is all is that he's our privacy and questions yet well the even even a guy like you. Who's not a huge baseball fans will appreciate this you think I'm a big baseball fan but the Euro football now on you like baseball and the huge baseball and they knew about this one TC. What position. Did Yogi Berra play our. A pretty easy. Ever there's a lot of women that are out of her daughter did you see by the way the headline yesterday that was published by mistake I forget who was actually think it was. It was like the Financial Times recently published a major public it would on witness my time's a big publication I know that men sub somebody told me of someone big that said Yogi Bear died at ninety yeah. And of course I was in the comments on that page as every single comment was Abbott dab a do it at a awful I think it might have been likes Ian and new USA today look it up it its news you can buy who who do that because it was. It was not only was funny to time with the Associated Press ATP title battle. Art that's a that's about it is the Associated Press. That's pretty bad the you know track I I think. I didn't maintain. That there is an opportunity whether it's Fiat whether it's Toyota whether it's Honda. Somebody. Stands to gain from the demise. Of books like it just makes it case is just too logical. Volkswagen sells 89 million vehicles a year next year they're not gonna sell eight or nine million vehicles. How much they go down I don't know is it a third is at half but they're gonna suffer you've said so yourself you you hold with ten guys. Tonight I talked more and I've talked to probably twelve to fifteen now and out of those I think there's maybe one or two who say they're actually gonna consider buying VW. So if those if if all of a sudden VW you lose two million vehicles sales. Have to believe some of them are gonna go to Japanese carmakers but Japanese car weaker stocks or whatever so I don't. It it's not computing doesn't make cents with a hammer for a couple reasons the first being just that there is still some fear out there that this is not relate strictly restricted just blocks wide. There's fear that other people every vehicle even the gas vehicles are gonna be getting tested as out you're saying if everyone's going to be under greater scrutiny right now so I think there's just a little bit of fears that the sector. If you. Yes yeah. Now in the long run the companies that are gonna pick up VW's. Customers they're the ones that typically are gonna specialize in similar types of vehicles you look at what VW was primarily selling and they're not selling big luxury car so it's not going to be. You know you can see. Be you know Mercedes picking up a ton of sales because this not to I really think it would be the fuel efficient providers so I'm thinking. Right yes I'm in my mind is going. Julio my mind is going forward my mind's going G and they got a very fuel efficient vehicles Toyota and Honda. The yacht and the you you cut I agree it's probably not going to be Mercedes it's probably it's going to be years smaller car manufacturers I think companies like Hyundai could potentially take advantage of this Kia might see a little bit of the Hyundai hasn't as stated that labor problem. They correctly ticket they're workers but you. You talk about the company's that I think will see a ball from this it's the companies that have small forward or vehicles with a little bit of a performance boost attached to them as well so that aside was 59 miles per gallon at. Well there's a reason. Well I know about it I think about it like how many cars are out there we get 59 miles forgotten are not very many. None of this was a candidate Cuellar Prius is like 5051 new ones up to 55. On the sixth generation. Like 8000 miles on it after two years and 5000 of them might put on and three months six dads out and bought one that. One day it was a big guy and you did fix it days nixed that paid sport but one Denton 5000 miles that that was my word that's. We don't like to loaner cars to our children because they don't pay how much interest are you earning on your count. As simple question write it in my guess is you're gonna say we mean interest earning make in making any interest. Well if you're not making any interest on your count I have won where you can make some interest. It's a three year multiyear guaranteed annuity from Delaware life. That will pay you a guaranteed rate of one point 95%. For three years. Or if you wanna type your money for five years it's 2.5 5%. At the end of that three year period timer at the end of that five year period of time you walk away with your money. No it no gimmicks no extra expenses no fees. One point 95%. For three years 2.5 5% for five years the name of the insurance company is Delaware life it is not FDIC insurance. Because it's an annuity. But each state in New England has their own guarantee fund they grow annuities grow tax deferred. Very low minimums in order to open an account if you wanna earn if you want to learn more. Information about this three year annuity that's paying one point 95%. Call this phone number it is 1800. 3934001. 800 3934001. You call that number and knowing it's her any questions that you have. Regarding the one point 95% three year annuity with a 2.5 5% five year annuity. Which ever one you want they'll help you doing to your questions that I hope you open the account it's easy to do. And it's a tall free phone number 803934001. That's 803934001. I had no idea that there had been such a surge. In the number of twins and triplets that are being bored or not talking about a 10% increase in the number of triplets or twins being born. We're basically talking. That the number of twins being born in America. Has doubled nearly doubled in the last 35 years old. One amazing there's a pretty simple explanation for it though on what it is is that you are seeing very rare you're seeing significantly higher rates in vitro fertilization and and using different fertility treatments which typically those types of treatments result in higher rates of twins triplets and and so on all the way up optimal ones all said and done. But those are the reasons really that's the major culprit behind why you are seeing. A higher number. Of twins and triplets being born if you go back to 1980. The rate was just below twenty per thousand live births are you talking just about 2%. Today in 2013. You're talking about 35 out of every thousands of from two to three and a half percent in a span of thirty years that's a huge shift. When you look at when you look at birth rate which typically. Birth rates tend to be pretty stable and not something that moves around it just doubles like that. Very often so that is a massive shift in what we're seeing. I like you guys to know it is being and become very fashionable. To have any large scale. Is that right yet aid it is now the cool thing to do is to have like seven or eight kids that that has become. It's it's it's me. It's a statement what's the coolest way to pay for college. You please tell me take a drop Moffett the army recruiter about that that that's I pay for college in new graduate high school. First stop is the army recruiting office but they it is becoming if it's true or an article it was and they new Yorker summit that. But in the the status symbol in Manhattan. Meat which is like the fashion capital of the world is to have a whole mess of kids site is once you guys told. That you want to be cool you know what I'm just I'm not cool oh no here here definitely don't you guys are definitely not cool and Tucker let me tell you know windows cooling burial Astra. No one knows cool like bear arms. I just thank you pay for acknowledging. The number of people watching television is falling off a cliff now we've talked about this in the past Jeff now we have quantifiable data on this topic. If it's much worse than the networks and ever anticipated. And I it's happening for a variety of reasons. And it's happening quickly what we have now is this is the the first major week of the fall release season for both old shows that are coming back on the air now as well as new permanent members of terrible. What we're seeing is four shows that have previously been on the air. For eighteen to 34 year old man it is down 18%. From the year before. Falling off the clip. For millennial consumers. Viewing is that this is eighteen to two point forces smaller subset. Ewing is down 20% against last year with 24%. Fewer men in this age group watching TV so you see at. The toy for pursue a quarter in one year. That is a massive shift in a short period of time. And what you're seeing here. This is again something that was starting to really be a building concern for media companies and I think that when you look at it these early numbers here don't really do anything. To put those years to rest and if you look at some of these media companies. As they are trading you look at a company in India the stock market in the range of 1% CBS down 2% Disney down 2%. Fox down one and a half comp cast down one point 75 media is trailing the broad market I don't know how to do they don't know what to do. You know the other problem they have is. DVR. They get the deal would get credit for the advertising. Eyes if you watched that show within three or four days when you recorded it. A lot of people don't do that there were sort of show in the watch a month later six months later yearly yeah you know it and that outplay. The media business is going through a major transformation I'll be very curious to see how they deal with that transfer. What I'm curious to see and what what I'm gonna be most interest in and out of this as you look at the professional sports leagues and where most of their revenue comes from him. Almost all of a huge percentage of it is coming from TV contracts you know we've talked for years about how players are overpaid. And other salaries have increased so much more quickly than the average person. You may start to see a little bit of a change up that revenue goes away you may seek a change there and I'm very curious what goes on. Get a pencil on paper Jack Moore from thestreet.com. Is joining us he's got three stocks that truck is ought to is going to discuss. That's up next on the financial exchange we're broadcasting from the insurer match dot com studios. He worked hard to make your money. Your children can teach you how to make your money pours through you he's the financial exchange with Barry Armstrong on the financial exchange radio network. Each week in the legal exchange Todd lets you update you on how to reduce your state Texas how to avoid probate and how to keep your assets in your bloodline that's great but what about the family behind your state plan what happens to your money if you get sick and going to a nursing home the answer is that it will be spent down in a hurry to the tune of 151000. Dollars per month at 180000. Dollars per year how Long Will your money last if you went into a nursing home where your spouse have enough to live on if you did nothing to protect your assets the Medicaid rules change almost every year and the elder law experts at pushing -- Dolan of updated all of the pertinent facts and figures -- their Tony fifteen Medicaid planning guide call now for your free copy an 8668485699. Cushing and Dolan have been helping families protect their residents for more than thirty years let them help your family. 86684856998668485699. That number again is 8668485699. Did you know that solar just. And on your roof is cheaper than continuing to buy power from the utility Boston Sorkin show you how to unlock the financial power in your home or business by harnessing the natural power of the sun Boston solar is the number one rated residential solar company in Massachusetts and a leader in providing. Affordable energy solutions to homeowners throughout New England with constantly rising electric rates Boston solar empower you to take control of your utility bills and increase your energy independence call 8559799446. Today to receive a free solar analysis of your home and learn how you can start generating positive cash flow now that's 8559799446. Boston solar can work with you to maximize solar incentive income and all federal and state tax credits Boston solar Smart sustainable saving you money call Boston solar today for your free solar analysis 8559799446. That number again is 8559799446. Very are strong here and we're joined by -- to ease the vice president and leader bank and we're talking about Small Business Administration holds this is a very important topic because the lending season is here you wanna be ready you want to expand your business leader bank has capital to lend out. And we're gonna talk about what they're doing and what they're making available to. Consumers paid OJ. Great very thanks for having me absolutely SBA loans and small business lending is certainly a topic of our discussion right now right what can use the money for you can use really for eighty business needs dad will help your business expand new trucks improve new trucks view kitchen equipment remodeling re modeling you know expanding into new office computers computers servers whenever maybe Kenya uses a safety net for line of credit sure just four and those rainy day but you know he could do lack credit yeah absolutely so you know we find a lot of professional services firms. They won't have a line of credit because maybe tools or during the winter sure. Manage cash flow payroll etc. so. Over offerings a special right now it's a three point 99%. Fixed rate for four years yup there's no closing costs with loans at a 150000. Dollars could you minimum credit score of 700 in an application process is very quake we will give you a response within ten days from complete app outstanding and we've had a lot of success with it and most importantly we've helped a lot of small businesses employ more people and grow their business. Good deal. Folks if you're interested leader bank has a SBA term loan and it has an interest rate on three point 99% its fixed for four years and it's for your amber to station the minimum credit score is 700 in order to qualify called leader bank at 8776917900. That's 877. 6917900. You can go to their website which is meter bank dot com. But it's easier just to call and talk to a human being. 8776917900. Even lower from Barry on. Follow I'm sorry Jean Armstrong Davis is the financial exchange radio network. Yogi Berra was a catcher for the New York Yankees do we have a winner. We certainly do with Carl from west Bard's double take them travel mode today. Turning now to stock talked and we're gonna talk with Jack Moore from the street Jack thank you very much for coming on today. Jack we've talked about VW story pretty much all week we've seen the stock price come down 35% now. Obviously a lot of questions about where it goes from here what are your thoughts this document been looking. Yeah I wouldn't touch I mean look at. We still don't know. Yeah I mean there's so many questions let's be answered I mean we know just that the magnitude of it in eighteen billion dollars. Will likely have to be written off we don't know we know how far to spread and and I mean this could be a scandal that just flat or I mean think about GM that's that's the name that actually. I don't have a purple or Iran north Jim Cramer and it's frustrating because it is it is at any point when it seem like that scandalous finally everything you know was cleared it. Cleared out and almost. We've got all the vendors who played on the table and other. That knew it would come out I think this would be the same exact thanks I wouldn't touch it. I think it's an industry that is looking incredibly dangerous just overall right now. And you can just see the hyper competition what that leads some of those players to do I mean you can almost compared to the tobacco industry at one point the financial industrial one point. But it start. He's a I don't think that actually don't think it might get last company that we the discover. And I think this is gonna. It with a knee out but I think it's gonna prompt another round as. Investigations and almost every company and and certainly it's it's that it's devastating and so I think that's dock it couldn't continue falling certainly. Jack VW appears to be in at least decent enough financial shape to not go out of business would that be your interpretation as well that. Look they've they may not be the company that they were prior to this scandal. But it doesn't appear to be something that's gonna wipe them out is that correct. I'll definitely not there will be wiped out by any means but it will be ought to restructure from the ground but they have yet they have an import shoddy there incredible. Actually cut a wide range of brands that that have staying power buy it and I think they will be able to handle it financially but I still have the document. To pick schedule we don't waste product and I didn't it didn't did that especially in Germany and in there that they're attacking these guys they're trying to rip them apart didn't they want. They really want. You know basically flipped over every single down here. Though no I think that they he had a good stock could be in trouble but now that that the company will be intact. Churn out let's take a look at Boeing who. Yesterday inked a massive deal the biggest one they've ever inked with China for 300 planes overall it's going to be 38 billion dollars of China pays list prices. Stock isn't doing particularly well today though what is the outlook for them in the long run. I mean I think that's an incredible validation of their of their business law and it's not at the they have you know I mean that there today it is very very competitive. As well none of the auto industry particularly. Just stand Airbus and one other European companies that compete for these big orders and housing and they've they've caller on the president candidate that more often to get the he he he you know he he really brought them a pregnant when he came over to Seattle. With that 300. The 38 billion dollar orders type thing. All right like out of all those main factors Jack bowing his head and shoulders above Airbus a mean are you comparing Airbus any right to Boeing product. If they're yeah I don't. I think the product you know I I think the product is steadily on the outstanding it's I think it's and guilt above I think pricing wise they're a little bit. Certainly a little bit more premium which Alex and David Billick to spread around there. They're purchased as the day they won't give all business to a company. And they like actually just keep you do the other two companies kind of competitive than and they likely use them almost like it's them against each other other to bring the price down. Torso to figure out how economic this was for Boeing eyewitness and that the mid price concessions. But relatively it's obviously great sign I think I'd like a stock block at a lot actually. When you look at them a lot of their growth recently is being overseas particularly in the Middle East as well lies in Asia. What are you seeing in terms of projections for growth rates there. On now that some of those economies are slow. Yet stuffed you know it's really tough to quantify I think it's definitely an impact I think it I think that there that there well diversified. There they're really in every pocket of big you know the global economy so. I hopefully that hold them up I mean look at it is that the fact that it would have thought that it would've gotten that big of a ordered from China right in the you know right in the heart of the kind of Chinese turmoil so I think that's again that's a validation. All right we'll Jack appreciate you coming on and thank you very much for the info. At it I thought. Jack Moore from the street those companies and Volkswagen and bone we were just talking up. Now I mean I just. I I've I like Boeing planes that is the root I feel more comfortable on a Boeing jet than I do liner are huge difference. To meters may I just don't like the the Airbus planes in the the shake more the beard there is no easier. Boeing you just feel like it's. There tight. The hotel every pilot that have ever talked to says that the 747 is hands down single best play in the event for now. Just dead and a town my opinion you know I do think that I'm not at an engineer and and I don't have access to safety records and I'm just telling you. As the consumer. I'd much prefer when I get on Boeing jet as opposed to a near. That then that's my personal opinion whole foods. Could use some help he. You know they they seem to be somewhat indifferent to shareholders. I don't know there's so much indifferent to shareholders as the leadership just doesn't know what to do. And whole foods had a massive first mover advantage in that they were the first. Company to really be able to do a national rollout of a organic healthy food chain. And the problem is that pretty much there really aren't any barriers and treated doing that. And so all of your other grocery stores as well as places like Wal-Mart gotten into the business then they say look we can do this for cheaper than what you're selling it to your customers. There's stores are still growing. LB had it not the same rate. You mean number of stores are sales sales at their stores are growing modestly. And I don't know and he be. A democracy just stopped selling rap wonder what that's anyway those I wasn't buying you're buying a rabbit meet their whole foods all right we'll talk more about. A variety of topics thanks for tuning in to this hour of the financial exchange from our insurer match dot constant. Did you know that solar system on your roof is cheaper than continuing to buy power from the utility Boston Sorkin show you how to unlock the financial power in your home or business by harnessing the natural power of the sun Boston solar is the number one rated residential solar company in Massachusetts and a leader in providing. Affordable energy solutions to homeowners throughout New England with constantly rising electric rates Boston solar empower you to take control of your utility bills and increase your energy independence call 8559799446. Today to receive a free solar analysis of your home and learn how you can start generating positive cash flow now that 8559799446. Boston solar can work with you to maximize solar incentive income and all federal and state tax credits Boston solar Smart sustainable saving you money call Boston solar today for your free solar analysis 8559799. Before 46 that number return on your savings account my guesses it's not very much. Leader bank has a new innovative program called Zuma Zuma rewards account in Jake to leak vice president of leader bank is here to tell us all about it. So this is a product we're very excited about these calls it rewards you get it checked keen accounting companion savings account. It's really simple as long as you've qualified by doing three behaviors you get three benefits the primary benefited you get a savings rate of 2.0 5%. Your first 50000 dollars in addition get all your ATM fees that you're charged other beings even if you're in Hawaii exactly reimbursed and finally you get 1% cash back on using your debit card on visa credit purchases so there's a lot of benefits into qualifies pretty simple he needs time for you statements don't save a little money on postage and paper. Have direct deposit of at least 500 dollars a month okay and do eight debit transactions per month. So essentially as long as you use it like a real account you can qualify in the rewards are outstanding speed and a lot of success with dead in a lot of happy customers now right. It pays two point 05%. Annual percentage yield on bounces up to 50000 dollars. The phone number to learn more about the Zuma rewards account is 8776917. B 900. And as a matter of fact if you go to leader bank dot com they have a full description on how this program works as tell you seeker can open the count on line. 8776917. B 900 to earn two point 05%. Annual percentage yield. On your resume book rewards account available exclusively. From leader bank 8776917900. Leader bank dot com or call them toll free 8776917900. 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. Where now. Very confident that she's safe and they just helped every step of who to thank them. So if you're struggling to. Find reliable senior living information call plays 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 that we help you need during this turbulent time call now 804677530. 804677530. Pat Boone here with a word about bank safety you think your money in the bank is safe. Don't bank on that a generation ago bank account felt secure and they paid interest. This encourage the virtue of thrift savings. But today. Bank accounts paid virtually nothing. And if 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 or be hit us. And that's just the first of nineteen risks explained in a new 32 page white paper entitled don't bank on. Still think you're a bank deposits are safe. Yet this vital new white paper now. Call toll free 8051960. To 71 that's 8051960. To 71 hi this is very Armstrong in if you own rental property you're gonna wanna hear about this exclusive program offered by -- bank it's called -- rent and it's designed specifically to help landlord to receive and deposit their rent checks electronically. As opposed to having to wait for the mail call -- bank right now if you're interested in -- ranked the number is 8776917900. That's 8776917900. This program will automatically deposit your rent checks into your account and we'll help you avoid the hassle of waiting to get a check many landlords are suggesting that -- sign up -- -- and upon the execution of their -- and why wouldn't you wanna do that once it's set -- you never have to make another change during the lease period that he -- is a free service if you have an account with -- bank and if not it will simply cost -- small monthly -- -- -- bank right now at 8776917900. That's 8776917900. Or go to -- red dot com for more information member FDIC. The financial exchange is brought to you by Hartford funds where they believe in human centric investing because no matter how far technology advances investors will always be humans first. I. This is the financial exchange we've Barry Armstrong. From Wall Street's worst week stay on top of breaking business. News and learn how to manage your money to help you towards a more secure future. And now broadcasting live from the insurer mentioned John John studios it's the financial exchange with your host well. Ari Armstrong. I'm joined by trucks not a and I'll tell you attract a lot of pressure on stocks the Dow barely hanging on to a 161000. Point handle. You know what we break through 161000. We could be revisiting those August low would receive for August close to. The go looking at BS in the and that I just haven't up right now so the S and peace on August low of 1867. Okay 1909. On the S&P right now on when you look at. The the resistance lines and and trend lines you already broken through them from a technical perspective so. You're you're more likely I think to retest those lows is this going to be when it happens with I don't know no one knows exactly what's gonna happen over the short term. But I think that he wants that resistance is broken. You're seeing a market that is moving downward again. You pretty much broad based downward movement today Dow down one and a half NASDAQ down one point six S&P down one and half fear. Anything that leads you to believe it earning season could be a disaster and I'm looking his earnings season starts next month. Really week a month from now will have a good chunk of data under our belts. I'm I'm looking at economic data like I got durable goods orders this morning wasn't great but it is the first bad month and three. Jobless claims have been okay housing sales have been OK car sales have been okay. I mean it this seems to be a commodity led correction. Wald is I mean you have China that is effectively exporting deflation at this point simply because there is a significant lack of demand there right now. And so when you look at that terrible goods orders a day or good but they came in pretty much right in line with what people were expecting some not a huge shift there. I think when you look at this there's nothing to really suggest that you are going to see a terrible. Earnings quarter but there's nothing suggests that you should see anything beating you you know. T-Mobile and sprint to its I'd say they are the step children in the cell phone business right the in the cellular plan and licensees. T-Mobile and sprint both. They didn't knock on either one of those companies is the fact that their networks. Are not. Very strong media the you've got inferior coverage maps if your customer team all we've gotten inferior coverage map. If your customer of sprint however. However they are exercising some innovative procedures. That are allowing them to sell iphones for like five and ten dollars a month depending on the value of your trade in. End they seem to be making inroads it and it occurs to me. Yeah we we all have iphones right. But I can tell ya there are days that go blind. That I don't use the old feature of my title really well sure and a days that I I will not make a phone call. And will not receive a phone call on the iPhone and often times I'm the majority of time when I have my phone on me I mean an area where I've got Wi-Fi. So like I wonder if that's leaving the resurgence in the east to companies that fact that the your cellular network is less important today. And it may have been five or ten years ago. Well I think what's interesting here is when you look at the relative size of these companies AT&T for example. Biggest one out there in terms of market cap a 197. Billion dollars market cap Verizon 170 billion tiny little T-Mobile which is about 35 billion so you're talking in terms of just shareholder value. About 20% the size of those other companies. They're the ones that are dictating where the industry's going those who look at what they've done they were the first carrier to come out with those no contract plans a couple years ago. Where the industry go. No contract plans because the big boys had to react to them. You look at what they're doing now. Offering entry level iphones are essentially Indies at 510 dollars a month. That's where the industry's going date that for a four as much as AT&T and Verizon want to get rid of the company that they just they. Can't do when they're not allowed to. V bucket by them because they they know they they'd like they'd love to drive them out of business yet they thought to drugs out of business or they about to acquire them and put him out of business selling current I want to. Exactly but. You you look at this and you know this is the big guy that either pound gorilla in the room that's dictating where the daughter's going which is what he typically see even that is innovative CEO it's a CEOs crazy looking guy in your for wall by Wall Street standards. Well and any Smart he says look all I care about is marketshare because he he trusts that look once people come in get on nine network. And popularly know what I. And that's what he's learning I think it would be a reason T-Mobile is succeeding is because the network is less important today. Then it was 510 years ago because people text now right. People you know only the use face time the but actually. You do at Texas Tech sings well and little texting you could still do with with Wi-Fi. About. Using your old to speak on your phone you guys use your phone because I don't. I use it more for data gathering reading emails checking the market the weather travel plans. Texting but I don't use it that much for talking on the full I mean I. Rarely make more than two calls a day now it's everything's text a for battling email yet so for a guy like you them. The network is less important they use in your your yakking away. A target these amount from ami AM typically just about any day weekend not so much but during the week and definitely talk to people any validity to my Fiorina. Dead the essentially the network doesn't matter because all that matters less. Yeah there's definitely some bullet I realize I'm not the standard. User of the the phone if you look at what most people are using their phone sports as you described its look and texting I'm looking at the Internet on amusing apps. So the actual voice quality in a lot of cases doesn't really matter especially you'll get. Even network it would just on Wi-Fi half the time anyways and I even 978 and a. Or validating what I just said you know ninth and it's and Yahoo! majority of people are on Wi-Fi ED percent of the time. Yeah also 80% of mobile calls and data originates indoors Wi-Fi and voice over. Wi-Fi is a big threat to AT&T and Verizon did you stay if it's just via. I an interest in perspective. Yeah and so when you look at this and won the stats that we look at is what's called the churn rate which is the number of customers that the wireless carriers will lose and any given quarter and T-Mobile churn rate if you look at what's been happening. It'd spiked as high as about one point 8% back in the fourth quarter of fifteen and this is according to data from market realist on this from their own filings actually. And what's happened is that it's actually dropped significantly struck down of the one point 3% range and most of the last two quarters. AT&T by comparison is at about 1% Verizon's right in that range as well so you look at this and it says. They're losing less people which means. If you're the CEO all you wanna do is get people in you get them into your ecosystem and don't wants to switch carriers and deal with this and that's of you get a man. That that's that's half the battle and so he's willing to do anything to get them in and then once there and you say OK now now it's huge to regular customer. God and god are right here's a trivia question for you what number was Yogi Bear. And talk about the number on his uniform you know the answer to that that's a trivia question weekly trivia every day here. On the financial exchange. You text us 68680. Is our text number you simply respond by text if you're the first listener of the correct answer you win a prize. Again what number was Yogi Bear Wal-Mart. Screwing up the plan that I gave them I told Wal-Mart to get in the Internet business. And there and it but there they're botching it the the Arab the they're screwing up the easiest plan in the world he needed to. Turn their stores and warehouses and deliver goods in those blue Wal-Mart billions to everybody in the surrounding area. They can't seem to get there they can't seem to. They're not doing that and that's I know they did not why would they not take my advice that was a great plan. I agree I think he actually had a perfect plan for the of that in the just they're not listening what they've done instead is they have allowed you to pick up fewer goods at Wal-Mart and they can't even do that. Which here's what you have to do if you wanna pick up the goods Wal-Mart you place the order online at Wal-Mart dot com you then wait. And you weak and you win and you wait for hours and eventually and this is from a tester from business insider test this and ended up waiting three hours before Wal-Mart notified that their goods were ready so. If you take that long for someone go into an island and pick up that good but for whatever reason it took three hours. By that time was 9 o'clock so the guys that look a go pick it up tomorrow can't be that bad except you don't just walk to the front of the store to pick up the item Wal-Mart puts this at the station picking up items in the back of the store. While that's an old retail for what that's like they bury the milk in the back of the store in the grocery stores so when you go by. Your market basket to get milk it's always in the back in the awhile while those other riles and if you're like me by some potato chips and chocolate cookies it and yours that they need general cart except the difference here is you've already ordered your -- you already know what you bought you've already made that seasoning closed out that transaction mentally. And so you're walking through there and all you're thinking when he walking through that huge 100000 square foot store is wide laugh the walk this far I am unimpressed with won't let me go to pick up the good there's a fifteen person line in front because they're understaffed and counters there. Why would an India computers don't work I mean it's just that it's myths it's a mess this why I love Amazon and they beat well you know what and that's what that writers here who got a they wish they would edit his as the dollar more an Amazon I'd say the dollar and Andy would highway pay the dollars. I a lot of people are in the panhandle. Up next we're gonna take a look at Donald Trump and the latest polls we've got Steve Robinson from Howie Carr showed joining us. He's got all the latest polling data that has come out as it relates to the Republican nomination and even the democratic nomination. That's next on the financial exchange were producing our show from the insurer match dot com studios. Financial news business news in what it means you all right here on the financial exchange with Barry Armstrong on the financial extreme radio network. This is very Armstrong from the financial exchange did you know that once you turn seventy and a half you are required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their higher rate or they get confused as to where to take it from if you don't take your required minimum distribution you are subject week 50% IRS penalty I'm making available a free report about our -- -- this report will tell you how much you have to take out of your irate based on your age and it also explains an exception to the RMT rule as it pertains to your current employer plan called the Armstrong advisory group to request are required minimum distribution guide 8559821594. That's 8559821594. The call is free and so is the guide 85598215. 94 securities offered to securities American and member of SpinRite SIPC and advisory services offered through securities America advisors think Barry Armstrong represented if Armstrong advisory group in the securities America companies are unaffiliated. Did you know that solar system on your roof is cheaper than continuing to buy power from the utility Boston Sorkin show you how to unlock the financial power in your home or business by harnessing the natural power of the sun Boston solar is the number one rated residential solar company in Massachusetts and a leader in providing. Affordable energy solutions to homeowners throughout New England with constantly rising electric rates Boston solar and power -- to take control of your utility bills and increase your energy independence call 8559799446. Today to receive a free solar analysis of your home and learn how you can start generating positive cash flow now that 8559799446. Boston solar can work with you to maximize solar incentive income and all federal and state tax credits Boston solar Smart sustainable saving you money call Boston sort today for your free solar analysis 8559799446. That number again is 8559799446. Mortgage rates are still at an all time low and make sense to take advantage of these rates when -- refinancing or buying in the world leader bank is a local bank that is one of the largest mortgage lenders in New England with very competitive rates asked their experienced staff about mortgage financing options and get a very competitive little term fixed rate for your home whether refinancing or buying a new home work with leader bank colleagues 776917900. Or -- leader bank -- -- leader bank -- over one billion dollars last year to homeowners in the Commonwealth of Massachusetts they're the true experts in mortgage financing deal with a local bank today and call 8776917900. Or email us -- loans at leader bank dot com visit leader banks for all your home buying a refinancing needs 8776917. B 900 that's 8776917908776917900. Or visit leader bank dot com member of Jesse equal housing lender. Is the bull market about to end many analysts think so given the high degree of volatility that exists in the stock market right now and if they're right having a sound financial plan is bound to be one of the most important issues that you wanna be on top hi this is very Armstrong I've been helping my listeners with their financial planning needs for years and I'd like to help you too if the current uncertainty on Wall Street makes you uncomfortable give me a call an 8552710183. And all review your current portfolio for free that's 8552710183. The appointment will take about an hour but wouldn't you give up an hour of your day to help you make better informed decisions called me today and set up your free consultation 8552710183. That's 85527101. 83 securities are for securities America incorporated member for an essay PC advisory services are printer securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group in the securities America companies are unaffiliated. And if you want to learn how they all work together. Financially strained on the financial exchange radio network. Yogi Berra was one number one in our hearts. Number eight was the uniform and work trucks. And a winner on that was Paul from lake built to hold one of our travel mugs and we're joined now by Steve Robinson from the Howie Carr show. And Steve did Donald Trump to not get the memo. Typically fox has been. An ally to Republicans. In an ally to the Republican front runners but yesterday Donald top trump tweeted. Fox News has been treating me very unfairly and I therefore decided that I won't be doing any more fox shows for the foreseeable future. It is very interesting definition of unfairly. Not think he has benefited perhaps more than any other candidate from XP exposure that he receives on fox. The guy has an arrangement where he can just call and he's on national television you know I think any of the other candidates would die to have a relationship like that they can just to Foner. For prime time to a fought prime time fox audience do you pride you know CNN as well we had yet he's done it with CNN he's gonna with Good Morning America he's done with although all the major outlets but is it really is bizarre to me I don't I don't. The strategy behind it she's looking to capture just another news cycle in or he's trying to play up his his appearance outside he's such an outsider that. Even Fox News is aligned against which I don't release you know he's going up against now Megyn Kelly in Bill Ryan. Yes I don't I don't understand the magna Megyn Kelly feud because that's not gonna that's not gonna help him with female voters. And I'm not at all and making Kelly she's a superstar and she's she shoots straight and you know she's she's one of the she's one of the real rose that you know if I had a daughter I would want my daughter to someday be like Megyn Kelly there she is she's an outstanding warrants and understand how he how he benefit from doing a dual two. And I mean bill Riley has huge for. Especially in this in the demographic that trump is looking to looking to get. And I think bill Riley has been ardent you know and he has to bring on guests who were critical don't trump because. It's getting harder harder these days to find guests who are critical to him yet all the criticism of the dune in the polls. Or in the in the latest apple to come out from Fox News this is poll life told live interviews not a not a you know button pushing people know it's national poll a thousand registered voters first on the registered Republican voters are registered vote registered voters across committed the democratic side and Republicans. Hillary Clinton continues to be the front runner in the Democratic Party but if you look. In in June she was that 61% to 61% a Democrat supporting her. She's down seventeen to 44 points and Bernie Sanders is closing with thirty. 30% of the vote and Joseph Biden is eighteen Joseph hasn't even declared yet there's been rumors he started generating a lot of support his trend line is upward so I think that if joke it's in the race it's only going to be more trouble for them. But on the Republican side Donald Trump remains for. He's at 26% in this Fox News poll and parson is behind it 18%. Carly Fiorina and Marco Rubio are tied at 9%. Yeah Ted Cruz at eight Jeb Bush it happened. And it's crystal line has yet absorption is a little Ted Cruz yes Jeb Bush is below tankers having won a margin of error on this horse 3% so you'd be considered a statistical tie between. Everyone below a dollar trumpet and Carson might get jet. Tip it's actually so there's if you look at the real clear. Politics average of polls which I think gives you a better sense of where people are having. If it gets accounts for the fact you can have a light pole. The only three candidates right now as a set since September 17 court trending up our Fiorina. Rubio and crews nail urges are accurate rubio and bush did once we're turning up trending down a big way our Ben Carson and Donald Trump. Who who both delivered. Milk toast debate performances especially Carson so their support is kind of dropping off the table when you look at the real clear politics average and can trump is trump is still leading Carson is still number two in the but the leader Trent Lott account help. As understands his truck made that comment the other day in and and I actually edit edit there's a lot of validity to this he said you know four years ago Rick Perry was in first place. And EU would you say you knuckle of the postal Thanksgiving I think you have an a till we get to after Thanksgiving I don't put a ton of stock and it just because right now you still have a lot of people that are paying that much attention just because they're not you know that the people that are political junkies are still kind of on the outside they're not really involved yet and so I think until you start to get. Some of the more reliable poll that happens as you get closer to primary season. I don't put a ton of stuff. Did you drew that's the I do and I think if you if you were trying to make bets right now on what can it was going to win. The polls wouldn't be your best they would be your sideline they wouldn't be your tip sheet. I think that the polls are important because they can become an awareness self fulfilling prophecy if people see that Marco Rubio is starting to rise in the polls Carly Fiorina is starting to rise in the polls that may cause them to take another look. That candidate that may cause them to go to their campaign website sign up for their lowest figure out what this person is all about. So I think that polls are important also because they give a signal to donors. They give us an of the donors if you have high or rising poll numbers that signals legitimacy and that signals that growth and got exactly. It signals that an investment that donation to that that candidate may may pay dividends. Alternatively that poll numbers signal that your year you know giving money might as will be setting on fire washing it down the toilet skywalker. Yeah it's our walkers perfect example and in in that the people who do pay attention to the polls there you know Smart set up. Consultant class they can look at those port numbers and I think. You know people we're talking about Scott Walker dropping race so who benefits from past but they think of it is cooler at the Scott Walker supporters going to go to the more important than that. Is Scott Walker had a massive campaign infrastructure and he's of people and I vote people in New Hampshire he's got. While very well connected fundraisers he's very wealthy donors those of the people that they really that that's who went and got a movie and rubio pickups those four people. His opponents of the New Hampshire people and Jeb Bush picked up some of these is Iowa people. So when you when there's like limited pool of very talented political operatives. And and you wanna pick those people up McCain goes out when I drop outs we had Dennis Scott Walker dropped out this week expected that there are unexpected and it was an unexpected. Rick Perry dropped out but you've got guys in there really should be hanging around I I keep wondering why like George Pataki to do. And so walker has announced that the part of the reason he's dropped out and and I think this is a very magnanimous thing for him to say and he feels like he's called on to lead by helping to clear the GOP field that he's going to be using whatever political capital he has left in to pressure these other guys drop out. Jim doll grams and torme tacky Rand Paul John K sick. Huckabee. Chris Christie these are all guys that I think need to start looking at drop in this race but again we get back to the super pac question. They've got the money that they can sustain themselves the managers smartly and might catch a favorable breeze. And that in and Arlen debate yeah like Carly is things happen a month ago. Exactly like a good debate performance and she she came up from the minor leagues had a good debate performance and now she's a contender but. On the outside of that for Carly is that along with being a top contender. The sun it's awful bright there and and the Scottish scorching yet the scrutiny that she's being subjected to and not just. British insults from Donald Trump a legitimate scrutiny of what she did that loosen up what she did it HP that's going to become a problem for curse of the candidates they need to be prepared. Ticket catch that breeze but they also need to be able to sustain. All right Steve thank you very much experience as if that Steve Robinson from the Howie Carr show giving us our latest update and chuck the more I think about your statement week until Thanksgiving it takes an awful lot of says it's because you've got to have probably 45 more candidates and drop out between now and then. Well I think there as Steve said there's a lot of candidates looking to maybe ride this out for Warner to more debates in order just to get a little bit more airtime and see if they can get a bump from that before they make a final decision. You're listening to the financial exchange from the insurer match dot com studios. It's Gary Armstrong and the financial exchange on the financial exchange radio network. Mortgage rates are still at an all time low and make sense to take advantage of these rates when your refinancing or buying a new moment leader bank is a local bank that is one of the largest mortgage lenders in New England with very competitive rate. Asked 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 with the leader bank calling 776917900. Or visit leader bank dot com leader bank claimed 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. Or email Ed loans at leader bank dot com visit leader thanks for all your home buying a refinancing needs 8776917. B 900 that's 8776917908776917900. Or visit leader bank dot com member of Jesse equal housing lender. Barry Armstrong here from the financial exchange I'm joined today by Ryan the Simmons whose sales manager Austin solar. And I'm curious Ryan as to why we are seeing so much solar being installed during the past few years I drive around Boston IC solar panels everywhere but we're seeing right now is we're kind of that's sweet spot within the Massachusetts solar market but we still had this giant incentives to do this you know tax credit covering 30% of the cost money from the state incentive programs covering. Good bounce for the rest and were seen until the toll prices going up or solar prices are coming in dramatic sort prices back in 1975 were about hundred dollars per watt solar powered down to under a dollar. The crisis has low last where was seen mature markets like Germany. So we have incredibly low cost while we still have. Massive incentives to do so because that we're kind of in the perfect storm currency study that it is the same cost to create Solarz it is natural gas electric. So today and then was chief factor in some of the environmental benefits of that sort can be even cheaper up. What about battery storage do we need to consider that one or installing solar thinks someday. I think down the road batteries are becoming much cheaper there's a new thing by Elon Musk that's coming out it's all sold out being in next year but I still without it. Yeah fusion centers and then you can always out of battery system down the route. Would you like to get a free analysis for your home or your business they'll come out Boston solar will come to your home. Or your business. They'll look at your rooftop and they'll tell you what it would cost to install a solar power system and with the benefits to you would be bill also explain the tax ramifications. Of installing solar and your home or your business call 8559799446. Today. That's 8559799446. On the big believer in solar I've installed solar on two of my properties call Boston solar 8559799446. Each week and the legal exchange Todd lets you update you on how to reduce your state Texas how to avoid probate and how to keep your assets in your bloodline that's great but what about the Stanley behind your state plan what happens to your money if you get sick and going to a nursing home the answer is that it will be spent down in a hurry to the tune of 151000. Dollars per month at 180000. Dollars per year how Long Will your money last a few ending to a nursing home where your spouse have enough to live on if you did nothing to protect your assets the Medicaid rules change almost every year and the elder law expert institution in Dolan have updated all of the pertinent facts and figures in their Tony fifteen Medicaid planning guide call now for your free copy an 8668485. X 99 Cushing and -- and -- been helping families protect their reticence for more than thirty years let them help your family. 86684856998668485699. That number again is 8668485699. Hi this is very Armstrong and if you own rental property you're gonna wanna hear about this exclusive program offered by -- bank it's called -- rent and it's designed specifically to help landlords -- and deposit their rent checks electronically as opposed to having to wait for the mail call leader bank right now if you're interested in -- ranked the number is 8776917900. That's 8776917900. This program will automatically deposit your rent checks into your account and will help you avoid the hassle of waiting to get a check many landlords are suggesting that -- sign up for zero and upon the execution of their -- and why wouldn't you wanna do that once it's set up you never have to make another change during the lease period he -- is a free service if you have an account with -- bank and if not it will simply cost -- small monthly -- call leader bank right now at 87769178900. That's 8776917900. Or go to -- red dot com for more information member FDIC. We knew that trouble breathing although it would go financial publications. And for. The financially change on the financial exchange radio network. Time for these trivia here on the financial exchange here you know what team did Yogi Berra played for 68680 is the text number. You know the answer to send us your were quick response to be fast. To win here on the financial exchange with team did Yogi Berra played for text us at 68680. You know you guys ever bought a car from Herb Chambers the auto dealer no no he he runs a pretty. Good shot did I hear he got into the car business in the 1980s in the story here is used in the copier business. And he had a heck of a copier goes down in New London, Connecticut Democrat and he sold that business for about eighty million bucks. And this is back in the 1980s it herbs they think he's 74 now so the woody he would have been forty something back that yup. And he took his winnings and he said I'm gonna go by Cadillac walks into a Cadillac dealership has such a terrible experience on the spot. He buys the dealership. One point seven million dollars bargain then there well and and the rest is history. So he made his initial fortune in the copier business now he's made a huge fortune what do you think is viewership network is worth. Well I can tell you what what the Bloomberg billionaires index that it's worse than about a 1000000005000000005. Men and up pretty much this got a nice bomb because. You remember back earlier this year. Warren Buffett actually bought the nation's. It's it was the country's biggest closed closely held. Dealer network. And tool and bought it at a significant premium and so what that did as it pushed up the value. For chambers network simply because when you look at this again it's it's actually massive network I think there's coast it was seventy dealers when it's all said and done that's a billion dollar operation. And so yet he does. Let's see here yet revenue is going to be two point seven billion dollars this year and is just an absolutely no. Massive and ended up dealerships and they are nice community here. There it kind of a step above right you know the you walk in there's one on route one down by Gillette Stadium yup every drug by the FBI and and just be going to that place he'd feel like your house. They give lunch. Coffee in just a really nice experience CA when he runs a good business from everything that I hear so it's you know and certainly. It's reflected in the value of his holdings right now one point five billion dollars and you'll sell and he's got a 49 year old son in the business. But you know that the problem with my dad is liquidity. In if you've got other children you wanna leave stuff too had how to manage that its its challenge this child able and especially you also have to make sure you know against that the sun may be in the business but you don't know if he's qualified to actually run the company that fashion there's. New different people have different strengths you don't know that is one of the Sundstrand is dealing in that fashion. Speaking of business I had a business experience recently that I like to share with you I went to my bank I'd been banking with citizens bank for probably twenty years. And nick out there and I said you know I'd like to get a line of credit I'd like to get a business loan from Citizens Bank you know they told me. That we don't lend money to businesses like yours. That's a fortunate that the Citizens Bank told me and you know I said a call one of our sponsors and that was leader bank I called them. And with the in the days when I had my loan package yet completely given to them anyone in my tax returns and business records is fine community the within eight days of when I gave them my whole loan package I had alone for a 150000. Dollars. From leader bank. I'll tell you what if you're bank says no. Then you call leader bank because you know what. They say yes they want you to become bare business banking partner. They're wonderful bank I know the president of the bank personally. They do a great job if your bank is. Not really enamored with your type of business called leader bank 8776917900. That's 8776917. B 900 I used to be the citizens bank and I switched to leader bank citizens said no. Leader said yes I am now a customer of leader bank. 8776917. Nines or is or by the way they have 150000. Dollar SP eight term loan. Three point 99% as the interest rate fixed for four years and you pay it back over four year period of time why you have to do is have a Michael score of at least 700. And you've got to give them all your documentation it's not that bad though I can tell you it's not that bad to do the documentation. Call leader bank 8776917900. I made the call and I could not be happier. IBM has just been granted in two and a half million dollar tax break for locating. In Kendall Square. Get a going to be moving AI essentially a medical. A digital health unit into that area in and they claim they're going to be able to generate about 500 new jobs this is. An area that is growing rapidly when you talk about all of the medical technology that is being developed this is really a unit that develop systems that allow the coordination of care between a lot of the new developments that are happening now in medical technology now so. But what they do it coming into the eighty that's an area that's hot as fire and move into the area and building up and. I don't know if you needed to give them two and a half million bucks because they are coming to Boston. McCain in correct me if I'm wrong but I believe they're coming to Boston because that is where the Smart talented they're coming here the dirt coming. No you don't think I don't know on the world's that gonna go where else a unifying. Talent MIT caliber talent in the country. These kids will stay in Boston the talent moves and and actually if you look at where a lot of talent for this type of development has been going on it's been going up to the West Coast of San Francisco you seem quite a bit out there. But he also look at some of these others that are popping up as tech hubs as. Tech hot spots right now. A place like Austin, Texas has become a huge center for technology recently right and you're seeing especially you can simulate that. If you can compete at an MIT kid wants to move to Austin. Elect to tell you a lot of MIT kids want to move to Austin round. A lot of MIT kids want to move laws that. I know people personally moved that are having an absolutely outstanding time and he talked about why Boston needs to compete with us a place like that. You do the taxes and taxes that significantly yeah knowing that impacts and that and that's why you end and we've even seen. You look at a number of companies locally that it moved business is down in the taxes just for that reason. Don't know and one of them that is sent the number of people down into Texas thousands and I think that you know something like that is a clear indicate a lot of them are bouncing back the type that with fidelity they sent people down there like at the comeback but they still of the offices. And they stated they get new people to rotate out editors there so. I look at this and I say look if you have to give me two and a half million dollar tax break. If you can keep those jobs and you can get more than that in the long run anyway there are jobs in our salaries 141 or down yet so. I think look you gonna make that back in the longer and just based on the property values income taxes that he collect. That that's where it is so I think that it makes sense there in my. Beat my issue and it is what about the little you know we eat the little guy again. You know the the big college he gets job. No I'm talking about the little company you know what about the five Meehan startup he's not in any tax rate for drug maker. If you look at a lot of the start of that are in that can Miller eleven US and for his some favorable tax treatment what about us how do we get some favorable tax treatment. That I don't know I don't know look into that way and that we know the right people say. When we come back we're gonna talk to you about America's most educated states how many do you think. Of America's most educated states are located in the six New England state. Will give you numbers one through twelve in terms of the most educated states in the country that's our next topic on the financial exchange. Which is being produced from the insurer match dot com studio. Radio that can enrich your life in your portfolio grow. It's a financial exchange with a Barry Armstrong on the financial exchange radio network. Each week in the legal exchange Todd let's yup they join how to reduce your state Texas how to avoid probate and how to keep your assets in your bloodline that's great but what about the family behind your estate plan what happens to your money if you get sick and going to a nursing home the answer is that it will be spent down in a hurry to the tune of 151000. Dollars per month at 180000. Dollars per year how Long Will your money last a few and into a nursing home. When your spouse of enough to live on if you did nothing to protect your assets the Medicaid rules change almost every year and the elder law experts are pushing him Dolan have updated all of the pertinent facts and figures in their 2015 Medicaid planning guide call now for your free copy an 8668485699. Cushing in Dolan have been helping families protect their assets for more than thirty years let them help your family. 86684856998668485699. That number again is 8668485699. This. Very Armstrong and I like to talk to you today about SBA loan if you're small business looking to expand or improve your infrastructure you need to take advantage of this great deal from leader bank for a limited time your business can get an SBA loan a three point 99% annual percentage rate with no closing costs on loans up to a 150000. Dollars and that rate is locked in for four years you need to have a credit rating of 700 and they'll give you an answer within ten days of receiving your completed application lending season is here and leader bank has the capital to lend out so if you've got a small business this is the number you need to call 8776917900. That's 8776917900. Take advantage of this great offer from leader bank a four year fixed rate loan at three point 99%. Annual percentage rate with no closing costs on loans up 250000. Dollars and you'll hear from them within ten days of receiving your application. 8776917900. Call right now 8776917. B 900 member FDIC. Did you know that a solar system on your roof could be eliminate your electric bill Boston Sorkin show you how to lock the financial power in your home or business by harnessing the natural power of the sun Boston solar is the number one rated residential solar company in Massachusetts and a leader in providing. Affordable energy solutions to homeowners throughout New England. With constantly rising electric rates Boston sort empowers you to take control of your utility bills and increase your energy independence call 8559799446. Today to receive a free solar analysis of your hole and learn how you can start generating positive cash flow now that's 8559799446. Boston solar can work with you to maximize solar incentive income and all federal and state tax credits Boston solar Smart sustainable saving you money call Boston sore today for your free solar analysis 8559799. Before 46 that number 8559799446. Mortgage rates are still at an all time low and make sense to take advantage of these rates when you're refinancing or buying in the world leader bank is a local bank that is one of the largest mortgage lenders in New England with very competitive rates -- they're 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 with leader bank colleagues 776917900. Or visit leader bank dot com leader bank went over one billion dollars last year to homeowners in the Commonwealth of Massachusetts they're the true experts in mortgage financing deal with a local bank today and call 8776917900. Or email us and loans at leader bank dot com visit leader banks for all your home buying a refinancing needs 8776917. B 900 that's 8776917908776917900. Or visit leader bank. Dot com member of Jesse equal housing lender. Valerie Armstrong knows ahead. Do you. It's your dream you know Barry Armstrong on the Cleveland here's the financial exchange a look financial exchange and you know work. Well obviously Yogi Berra played for the New York Yankees. Winner on that was Daniel from Stratford. New Hampshire take it one of our moments we've got breaking news out of Germany related to Volkswagen may have in fact. Selected Mueller from Porsche. To be their next CEO we just talked about the yet this is what ot Kyle stock from Bloomberg had been on earlier in the show and this was his prediction as to who was the leading candidate what they got to the stock. And it does appear that he is correct Mike he's got a good job a portion of me here are. I anarchy and I had a portion once I loved it does a fantastic car you went from that to a Prius yet. I'd love to get a when they're coming out of the electric car port and get that oh yeah. Yeah absolutely it's mostly rock. And it he's the he's going to be the new CEO. An and they're Smart to do it today you know they they need to do is move on they need to. Deal with this head on these guys got a reputation I've never met him he's got a reputation as being very competent executive we'll see we'll see if he get the job. Dads get that they need to start getting ahead of the story getting ahead of the curve in terms of how they're dealing with that so they just to have a resolution look. I said at the outset I would have gone with someone external we'll see if he's able to do as someone who's a Mora closely tied can't the leader now. And we'll see if he's able to do a good job leading them out of this and we'll see if I'm wrong yes. Massachusetts. Is the most highly educated state in the country with. 41 point 2%. Of the population. Having adult population. Having at least a bachelor's degree. Yeah and essentially it's is that it's not surprising to me is surprising to you would all. Well I figured it would be Massachusetts. Connecticut or Vermont because when you look at education levels across the country depth in you look at SAT scores in those three states are always 123123. It it varies like he can might be Connecticut one year in a Vermont the next. But you're talking about. Three states that have a high degree of respect for education I'm glad to see New Hampshire jumping into this list of top twelfth. Yet Connecticut ended up coming in forced him in the country New Hampshire coming in seventh now which is pretty strong and Vermont at a Vermont which came in eight. And as you round out the list of the last states that are in the top twelve here. You continue on and really the go down just through the top five he got massachusetts' first Colorado second. Maryland third Connecticut and they and the they don't cut off actually but I don't feel like six the ones from your New Jersey there it is one germ that are missing in New England. It and I they're not in the top twelve. You know it's a fine Rhode Island a little bit interest in just because you do have a number of pretty strong colleges down in that Providence area actually attacks money made me game one of the highest tax rate in April we have the highest rate of taxation in New England so I'm a little surprised that you don't see. A higher number in a state like Rhode Island just because there are so many good schools down there may obviously as a very good school still but I think it's just the rural population a lot of those people might not have the ability necessarily just the the avenues open to them to go to college even if they have the natural ability and that I think probably contribute. Yeah insure a match is an experienced independent insurance agency. That represents a variety of insurance companies and they are dedicated. To your personal financial protection. You should give them a call. At 877324. 5024. Seek expert advice from an insurer match counselor to understand the differences between the coverages rates. And service quality offered by their portfolio of carriers in just a few minutes so tall free phone call and only taking a little bit of time. 87732450. To four that's 8773245024. Well they controller. Of a Warren company. It has been charged with embezzlement this story coming out of Warren Rhode Island. Yeah and this is relating to Robert Anderson who is of north Providence is arraigned in district court last Friday. And pretty much what they're saying is they found 50000. Ian Ava Anderson products inside of his house and really. Again charged with stealing this merchandise from the company that the merchandise was there and so he has been charged and the trial is going to be coming up. Doing. Surprise announcement out of ESPN this is catching a lot of people by surprise that I think it's indicative of the story. That we covered earlier young ESPN's laying off a lot of workers. Yeah and the they're estimated to lay off anywhere between two and 300 people which is if you look at their entire worldwide staff that's 7000 so you're talking. About three to 4% of their entire staff is going to be laid off in this round. Of cutbacks here and I think that this really speaks to the fact that you do have some. Some really bad trends in the media sector at this point in terms of viewership and where that they received darling neatly with the darling in the cash cow. For Disney for how many years twenty years but still are. Still art I mean there's still the biggest revenue item for Disney when you look at when you break everything down there. It's just that the fear is that when you have this on bundling that occurred and we went through the map. That in order if if you have everyone on bundle in order for ESPN at the same amount of revenue today that they do or to tomorrow that they do today. If you if you wanna go just individuals buying ESPN instead of everyone getting it automatically you would need to charge sixty dollars. A year four or rather a lot of Sadia I think you a year. Ward I can't remember the last time just like ESPN I can't remember the last time I watch 902 young man station right deaths are down I don't watch it right but isn't it it. Your peers must though is isn't it like the station that you watch we now hear it's not and no it's because when I was young that I watched his wife Terrill. But it's not the same program in which you are young was kind of the glory days in this. This this stuff that I loved is when these to have you turn and only denied an iPad data Irish early on with guys hitting each other states rollerblade that. You don't have roller derby you got that heat of the lumberjack games and stuff Canadian league football you have all these yeah I thought he the united hockey you just have Stephen A Smith yelling it whoever its gets us off its all flocked there as appealing to the casual fan I was gone too far now so it's underway talk format like it make it a sport Japanese signing an intelligent talk just like garbage it's dome. And probably the reason they did is because that's what brings in the ratings but it's driven a lot of people like Tucker and I don't watch and then I watch games but that is I will not even on an in house an important. I Citigroup is exciting Massachusetts. Little bit surprising. Now that the vote they have been here very long and when he came in about as bad time if you possibly that problem. But really just about everything else that going to be pulling the seventeen branches in and around the city pretty much out of there completely. And they really just haven't been able to make inroads in any significant fashion which. It's nice meal a wonderful one bank will buy all of those branches because they have some locations that the you don't they've done. Is when they came here the open these big darn branch is huge and I don't know if anybody's gonna want them. I mean you look at a lot of them and a lot of former big enough to be restaurants and stuff like that so I wonder if they get taken over and not taken over but I wonder if those spaces and it getting filled. Just by other retail chains and things along those line. Spence of conversion outfitting a bank is like the unity the vaults the CO box he spent a fortune outfitting them. But you need fewer bank branches because we're talking about you know I camera last time I watched. You know ESPN YQ what member the last time I walked in a branch and I don't spend cash available tastes very rarely. Delight delight need even to go to an ATM anymore. I go at most once a year. Once a year into into a branch less than that probably no I didn't catch maybe what you are just let's keep something sitting around in my wallet in case of an emergency or whatever you know. But a why would you go in to a break. Mean you know they got beat the banking industry has not done a good job in terms of creating traffic they need to know they have tried to. The one with your incentive inter branch but what but. Why would they want to do that I think banks all realize the branch is done it and you don't need to create traffic there because the the incentive is you want more people on your platforms are you need to give more technology got on the brick and mortar and if they could create profitable traffic's like I was thinking. You know convert branches or have branches that would have. Property casualty insurance agencies within them have attorneys like it you know trust in the state attorneys in each branch. The Bennett he could make some money you might be able to you may have to do some of those partnerships with non traditional forms of revenue their so just try you need to create traffic and noise branches are gonna die in the line. Because all you don't need the it right now eight Arab. But the wave the banking industry is functioning today the branches are becoming obsolete yet and really they can be the size. In the size of our studio. Not even that which by the way the Dow's down 232 point these studios are lovely. And they are sponsored by insurer match dot com. Security suffered through securities America and remember finreg SIPC and advisory service offering to securities America advisors our countdown representative I'm trying advisory group in the securities America companies are unaffiliated.