Feb 10, 2016|
Full Show 2-10-16 by The Financial Exchange
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
Okay. This is the financial exchange we Barry Armstrong. This routine you're street 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. Barry Armstrong. Hi everybody welcome to the financial exchange carrier Armstrong and chuck is not a with you here on Wednesday. It's a Wednesday by the way we're Janet Yellen is taking a trip to the zoo. You sit and visit congress. Very good. Alex that zoos are gonna start you know so right there it take your pick I don't know what you wanna call it that. It must be we need you just envision what he's going through here's a woman you know PHZ. Very bright very game would you agree with their policies are not penalties and smarter than everyone else she's in that room talking to exactly and how frustrating must that be and you gotta think he's he's gonna get dumb questions. OJ you know she's got people you know arguing about stuff that she has no influence on even you know they don't even understand what how to spell Federal Reserve let alone what at Dulles and it's you know it has to be one of the most frustrating things that she can do in her you know she goes about her business they should pay her extra on days like today or. If you and I got jedi extra compensation which she overtime today that you get two times I. They have got big news here Japanese treasury trading over 0% the ten year treasury now yielding chock. Point 015%. Better load up I'll. Well I mean it was just a couple days ago when Andy went negative down the Japanese treasury was trading in negative territory up. Of course we are waiting on the Federal Reserve comments he's giving testimony to congress as we speak. And we're going to be joined by Michael Redd sixty he's a professor at WPI. In Worcester he'll talk to us about what we should expect I've already gotten some notes from one of our fed experts as well so where have. Pat sift through all the Federal Reserve dominance during the show today. But a couple of local companies reporting earnings Akamai Technologies. And CVS of course. Let's start off with a Akamai Technologies they reported either late last night at this morning. Yet they reported and did show a nice beat on earnings I think more importantly. They also guided. A little bit higher than expectations and a particular. Announced in news that they are effectively. Going to be breaking into two divisions not so much splitting the business in the two companies. But growing the business part of it a rapidly growing security business a cyber security business the other part is more their stable. Consistent. Online streaming video business they provide. The backbone. To a lot of online streaming video virtually anything we watch trait YouTube play an awful lot of you out here I was shocked at just how much control of that industry has yet they are they're pretty much 800 pound gorilla in the room odds are the average person has never heard of Akamai Technologies and behind the scenes they are the guys who provide the infrastructure. Two years Amazon prime you know Netflix of the world peace books of the world in order to transmit and deliver. Their content you a lot of those companies have begun to take that more in house in an effort to cut costs. But they are still the biggest company out there as far as who provides a lot of that infrastructure. For the delivery of online video. In of course they are based in Cambridge Massachusetts our next company that were talking about it CVS. Based in Rhode Island and I'll ask you guys it and it like to hear from you our audience as well. How often do you go to CBS I mean they are the drugstore. Of choice I would think in New England but how often. Do you go to CBS or text number is seat 686 Canadian if you if you shop at a Walgreens that's fine Rodrigo how often he'd go to the drugstore because. Mike shopping habits have changed I now get my razor blades delivered in the mail from the dollar shape both you guys are bearded I don't believers of woods I'm a member of the dollar a share of club you are warning us. My neck. I think a neck beard now that term up. Nice and cleaner but that that for me was something that stopped me from going to CBS does a step to make my trip once every two months right. Angle abide by a packet of I'd I'd go. Get my home equity line of credit and then I would go and buy a pack a razor blades for us because they're expensive they're. Dollar shape club comes wrong all the sudden I'm a member of that they get delivered to me in the mail they email me the day before their ride them. And then they arrive in on the happy right so I don't go to CBS to buy my razor blades anymore. And then I discovered that I can go in order by shaving cream online so now do that they negate I'm finding less and less reason. To go to the drugstore and the right call me lazy. Six I'm learning from him if I'm I'm adapting to technology affect my. My toilet they were just came in the mail with the CBS. May be three times here this is from 603 go to CBS three times a year too pricey 617. Well 68680 is a Texan how often the drugs whether CBS or Walgreens I mean they're they're they're a pretty much sing I go maybe every two or three months. You know it at most I can't remember the last time I went. Is that now I bought my dental floss on line by money. Toothpicks online by buying everything and I becoming. A becoming an older version of talks on SP. Of which so interesting. Interesting thing today so today's the start of lent yeah okay I'm giving up Amazon for one. Oh that's possible scenario I'm giving up Amazon for like no shot I am giving up Amazon for elect and is this going to be a challenge this is going to be a yeah he'll challenge for the itself is a party apps stop my toilet paper subscription retailers across America are plotting. There's going to be a lot of dollar's fall in the local businesses now that my but Amazon Abbott is kicked for the next forty days but. I'm giving up Amazon for like heroin and watch how he goes is it all gets delivered here we're gonna know if you violate now I'd I'd like make one purchase yesterday. Well so it will be coming later this week just because I had to get in before. For the forty days started so I did make one yesterday but that's it a redundant I don't for the next forty days. I I. I'll tell you the I I'll be curious to hear your experiences because I think your struggle I think I'm I'm gonna have night sweats and all I think you're gonna cave. I'm not to violate Tuesday and actually know Hillary like another bureau is like two polar IRA. So I was checking out CBS in their stock by the way is up two dollars today. Same store sales or three and a half percent. But it's all due to a boost in their pharmacy sales. Their sales of items including cosmetics food in cards were down point 5% for the quarter and and and 5%. For the year so. That I've I'm bringing this up because that I wonder CBS is not in a fall victim to the online shoppers will or war or will they adapt. And yet chalks ought to to buy week you know go to CBS dot com and buy his goods and services there. I think the big thing that ever write me. The big thing they're trying to do remember is they wanna be converting more into kind of healthcare company where you go to the minute clinics and you stop in for things like that. And I think this earnings report shows because they're showing a decline. In that things you know that are traditionally here that are where I think they want their business to be don't they don't want you to be you know just going in there okay and your birthday card this and that that's not where they want the majority of their revenue going forward yeah they want to be. Look you're going in fear flu shot you're going in because you you know you feel sick when they need it wanna go the doctor you wants that the quicker and cheaper. That he do you think they regret. Stopping the sale of tobacco products now now now. He knew I wonder near me if people are still buying them are updated with the difference they now they go next door and they buy their lottery tickets. And the tobacco products explorer wonder do you regret not offering sicker cigarette sales. I don't I don't have a CVS store but they don't have cigarette sales anymore I know that's the guy that I wonder that's not a mistake for CBS at the time when they did and I said this is a big mistake. They should continue to sail so tobacco products profits are up 13% that's not bad in at a time like this where profits are largely stagnant and telling you that you know it's it's not really a big factor for the 774 says when I lived in Masso go to CBS almost every day six of three CBS beer is cheaper finger at unity could buy beer in New Hampshire. New Hampshire not hear you buy beer everywhere. That's great live free or be shot. 603 says my insurance companies forcing me to fill my prescription CDS and cops beat twice what righty used to charge them a thundering. Anyway they ain't I I just wonder how that business model gets impacted with the online shopper you know move in only time. Only time all right. We need to get to the Federal Reserve. Janet Yellen giving testimony we're gonna learn from Michael Redd Tzipi. He's a professor at WPI. In Worcester Massachusetts he'll join us in the next segment to talk about the Federal Reserve that's next on the financial exchange. How will be upcoming election affect your finances and your business Plano right here it's the financial exchange on the financial exchange radio network. Is the bull market about to end in many analysts think so given the high degree of volatility that exists in the markets right now and if they're right having a sound financial plan is bound to be one of the most important issues that you'll wanna be on top of hi this is very Armstrong and 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 803934001. And all review your current portfolio for free 803934001. The appointment will take about an hour but wouldn't you give up an hour of your day to help make better informed decisions call me today to set up your appointment 803934001. That's 803934001. Security suffered through securities America incorporated member finreg SIPC and advisory services are put through securities America advisors incorporated Barry Armstrong represented their Armstrong advisory group in the securities America companies are unaffiliated. If you're looking for a great deal on a new account to a program issued check out the zoo were rewards program that leader bank is now offering its checking account along with the companion savings account and as long as you qualify you receive three benefit first get a savings rate of two point 05 annual percentage yield on deer per 50000 dollars all of your ATM fees from you and other banks will be reimbursed and you get 1% cash back by using your debit card and visa credit purchases to sign a -- statement with the account direct deposit at least 500 dollars a month and do a debit transactions per month co leader bank right now at 8776917900. To learn more about consumer awards program that's 8776917900877917900. 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Euros or imagine you'd never have to wait for rent check to come in the mail it's automatically in your count. On the first of the month. He rent dot net. Or 8776917900. Call 8776917900. That CE rent. Exclusively available. From leader bank. Securities opera or securities America income member in SIPC advisory services offered securities America advisors Gerry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Download our out today. Surged financial exchange show in the iTunes or Google play store this is the financial exchange on the financial exchange radio network. Our text number is 6680. And chuck it is being suggested. And in need to get you padded room to survive in forty days I don't think that is out of the question I had a feeling at how are you giving up anything else online lucky given at Netflix ended and suffered mattered Justin is. Thumb I think well let's let's maybe it won't let me think about this maybe a little something else and all I'll I'll put a couple there right now just and it's. Would mean just it was he's going to be shopping and yet there. You see these jitters that I have this Wal-Mart dot com it's like when you go get your coffee in the morning the way I feel right now it's true. Are made out to you somebody who's got a similar feeling in that would be Janet Yellen she is in front of the circus right now giving testimony. Being asked questions by people that frankly. Don't share her leveled in the editing we are joined by professor Michael reds rookie from WPI. He joins us now to talk about what we should expect from this is Ellen today I'd I'd like Mario. Morning Berry more chuck. I he was still. We're glad to have you. So what what are we hearing from Janet Yellen and what should we anticipate out of her testimony today. Well of course we don't know for sure and central bankers are not quite secretive and their deliberations. And when they make public speeches they try not to. So that's up in one direction or the other so they sort of filter their their comments so it. You know kind of hard to know for sure. But a good way to think about. Getting younger testimony what central banks do is overwhelmingly almost Central Bank a lot of things based that interest rates that they're being. Reason for existence. And down. I guess as simple way to think about it is think about the numbers 23 or by. In terms of goals. Central banks like is to get 2% rate of inflation. A 3% rated GDP growth of 4%. Interest rates the overnight interest rates. And 5% rate of unemployment. And if they can hit all those goals all's well with the world and I'm not unemployment rate of five. That is pretty much that that we had four point nine last Bader. Such Danielle and should be pleased with bad. But it's the inflation part that has a little bit concerned getting inflation at 2% believe it measure. Up and down. So. As inflation's in fact inflation's running at about one half of 1% isn't might. Absolutely can't of course inflation. Is done a lot of inflation is not good but deflation as the particularly bad involved inflation deflation are bad. When they get to be expected to be then people start to change their. A behavior. And sell. If you want to air on one Saturday in every get exactly Euro rate of you know inflation deflation forever in the real world so that that like sort. Creeping inflation around. 2% and we're below that right now they're gonna try and now. Conduct monetary policy in effort to raise that. Would be she seems to be more concerned about the use sixth and I recall any other fed. Chair being and most people Michael don't even know what the U six unemployment rate areas. I agree that completely. And got the Fed has quote unquote a dual mandate by law they have to worry about stability price level inflation he question. But also making sure they eradicate or help eradicate involuntary employment. And down the exhibition all headline measure of inflation the four point nine and mentioned. Is right at the goal of the that's good but the larger measure used six which includes discouraged workers. People who have given up looking for a job but they really would like a job as well as people are working part time but like twelve all time best running and almost 10%. And get a reality is that by training it means an economist. And so biker sort of training and an attitude I think of the dual mandate she probably is. A little more concerned about the unemployment underemployment than. Perhaps other fed chair persons work. Michael what do you attribute the spread I mean Ayers the published rate of unemployment is four point 9%. Yet the U six is running nine point nine chuck and I've looked at the average spread over the last 5000 years and it's usually. You know 22 and a half percent with 5%. That seems inordinately. High. For the use sex why is that so high. Well we don't know for sure there's all different explanations offered by a sort of both sides the political spectrum are. Unemployment benefits too generous. Allowing people more wiggle room. Are either demographic changes taking place. Are there. Just jobs that are just not very well paying and so people are more picky they say we want it that sort of job might my qualifications are. Superior to what that it's got to be an opportunity. So we don't know for sure but his right at explanation we get to write the spread is larger than. Has been historically. Are these lower oil prices. Are they helping the economy locally in in the United States or their earnings. Well they simply devastating economic every question can be answered with it depends. Well certainly opt for the consumer. When it cheaper develop your car and extra money to stand and other stuff or not. He leveraged pay down debt on if people are paying down debt rather than spending its bit for them but not necessarily good for the macro on me. On the other hand in the oil patch you know if you work in that sector or in other sectors that that Specter start to lay off some. Cut back at Zell. On net I suppose it. It's been a bit of a boost for the economy but over the long term it's probably not. The good thing we don't want very high oil prices but we certainly don't want the a large sector the energy sector from spiraling out of control. Michael maybe you can settle a debate between chuck and I. We eight chuck does not think we're entering into a recession the stock market is indicating that something's wrong. Do you think that we're gonna be in recession when we look back at the year when he sixteen we're will we have two consecutive quarters with negative GDP. Yeah might I I would say it's more likely rather than less likely that over the next year to we will slide into recession based on the data I looked dead in the modeling I've done. I'm economy can get shot in a significant shot could push it you know into a recession next week. I don't see that happening court shocked by definition and that it but over the long run that there are a lot of indicators that are can look what does that concern. And so you know you're put number on it may be yes 60% chance over the next two years that slide. Into recession I don't know that it's going to be or we want but I do think that we don't sort of pressures are are evident in the data. Yeah then be in when you say that data you just that you're referring to GDP in the beginning usual because we could have a low unemployment rate. And yet still have a recession. Right well if there's various indicators. That there will be economic decline and some of them are. Flashing warning signals you mention credit spread. Another nice thing to look at as the purchasing managers index. And that's when that dropped below fifty or start the ball that's not good certainly mentioned the stock market and that's something of a canary in the coal mine although personal bank did you know that decline in the stock market. Predicted eleven of the last five recession if this is not it doesn't make things is you know for sure. And it via that you know predict everything 100% of the time. But at that they Arctic there. Michael thank you very much for joining us we appreciate your time. Michael Redd that he he is a professor at WPI terrific school located in Worcester Massachusetts. Suggesting to. Recession the next two years. Always he's talked about I think that there's if you go but two years book I can't tell you what's gonna happen next year I think. We were talking this year you know I don't think you can see one is now I don't know and that's just I think that you're gonna see continued slowdown but there's the three a slowdown or recession. Time for trivia here in the financial exchange on this day in the year 1763. The French and Indian war ended with the signing. Of the treaty of Paris. What was an alternative name for the French and Indian war you know the answer to that question you can text us 68680. Is our text number. What is an alternative name for the French and Indian war again our text number is 68680 coming up next. Will be talking about Sumner redstone. He just cut somebody out from his will will let you know who it is and how much it cost. 68680s are tech's number or producing the show. From the insurer matched dot com studio. Making your Smartphone even smarter Dell Motorola mobile lab by surging financial exchange joke in nineteen Jordan who. Played stores this is the financial exchange radio network. According to a recent survey conducted by Genworth the average cost of nursing home care in New England is 1121000. Dollars per year and this average car is expected to increase to 175000. By the year Tony Tony to how quickly -- your assets being depleted at UN to write checks to the tune of fourteen of 151000 dollars every month well it's certainly ideal to develop your asset protection plan in advance like tends to get in the way if you were a loved one they're faced with an unexpected nursing homes today and you haven't done your planning before you write that check pick up the phone and get some expert advice the law firm of Cushing and Dolan has been helping families just like yours protect their assets for more than thirty years they've put together a brand new guide for Tony sixteen called planning for procrastinators. You can not put off this call any longer does your free guide them learn how to protect your assets 8668485699. That's 8668485699. That number again 8668485699. 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Securities are printers securities America incorporated member of camera SIPC and advisory services are with your securities America advisors incorporated Barry Armstrong represented their Armstrong advisory group in the securities America companies are unaffiliated. If you're looking for a great deal on a new counter program you should check out the zoo rewards program that leader bank is now offering it's and checking account along with the companion savings account and as long as you qualify you'll receive three benefit first you get a savings rate of two point 05% annual percentage yield up to your first fifty tagging all of your ATM fees from use in other banks will be reimbursed and you'll get 1% cash back by using your debit card on visa credit purchases just sign up for these statement with the count direct deposit at least 1000 dollars per month and do a debit transactions per month cult leader bank right now at 8776917900. To learn more about the -- Murrow awards program that's 8776917908776917900. Member FDIC equal housing lender zero point 20% annual percentage yield earned on portion of daily balance greater than 50000 dollars those who do not qualify presume we're awards will learn zero point 10% annual percentage human savings balance member FDIC. Get your thoughts and questions seem instantly takes the financial exchange at 68680. This is the financial exchange on the financial exchange radio network. The alternative name for the French and Indian workshop was the seven years war the other winner there was Mike from East Sandwich and might take so one of our financial exchange mugs today. I'm fascinated by this Sumner redstone story and I almost feel ghoulish. But it it's a journal every day so I have to. I feel obligated not to report on it this is kind of like you're equivalent of like TMZ reporting on this story to you if you really can't tell you if you just Lago loving everything that's going on here. Quote Sumner redstone the Boston guy his daughter Shari Redstone disease. A Boston gallon in this is a company. That has a lot of roots in new England and I like to talk about it what's fascinating news here's a guy he's 92 years old. And back in September. He changed he is wills and his legal documents. And he cut out. He is. His his companion he would sounds like he had two companions he had a Sydney Holland right. And then he had a ms. Hearst are each ER ZER. And she was going to receive. Fifty million dollars end mr. redstone Beverly park home which is worth roughly about twenty million dollars until she got cut out. Not only cut out but thrown out of the house the next month. And what I find particularly amazing here. Is that ms. Holland who was not cut out in any way shape or form is only 44 years old yet but the fact that mr. redstone set is 9292. Years old. And it in and what tests of the searchers out and and she had a lot of authority over his affair for many years. And she gets cut out in September. The everything gets readjusted in October. Now on this mergers clean shock and I that you know I'm not trying to take sides here but there could be some validity and he's 92. How competent was he. In September and October at the time of these changes well and there's been a lot of chatter about that over the last three or four months now you remember when this story first started. When was that back in October may be well Ali you actually I've been following this is has been going on for several years is that right yeah the this is something we're. Sumner and his daughter Sherri were strange they didn't like him that day they were. You know at thoughts and and I think Sherri disapproved. Of the yen the women that were taking care of her father. And she couldn't get time along with it now something happened. Got last year. That brought them back together in the started they're they're Jewish and they started sent spending the Jewish holidays again together so the something got them back together again. But now the good. Is that Sumner was not competent to make those modifications back in September and October and you know what. If you look at it and you say. Was Italy did its going to be they're going to be of the call a lot of witnesses. That's a that Sumner redstone was not capable of making as much if it was there it was last week you're the week before there's a doctor's ruling on this yeah. So it's you know you look at the picture any kind of wonder what he's going on their behind scenes don't feel too bad. For mrs. hers or miss hers her she's already received more than seventy million dollars in cash. From mr. redstone since 2009. So I'm not gonna have to throw bake sale for that million I just wanna know it out there but. This this is a story be my prediction is that. This will never go to trial and that the redstone family will write this merger. Yeah I mean it's if look at. I wonder mean you got to figure this is not the kind of thing they want to go to try. This is the cut use Internet stockholder problem exploit you gap's stock holders involved in the last thing that you want. Is for this company just kind of in limbo for however long that trial goes well he figured something like that you start talking about appeals and so forth but you can be going out to three years by the time it's all said and done right I think this gets. Taking care of out of court as they say creating the right insurance plan can provide as much peace of mind for you and your family as a sound investment strategy. You need to make sure that you're getting real value and covered for the dollar that you're spending on insurance. 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I I don't think it's just Disney either no I think it's I think it's NBC I think it's CBS I think. I think people are waking up and they're saying and I'm not pain what what Tucker how much you pick your team from 99 a month. Is that Internet your what an hour or so. You know at some point. People are gonna wake up in and this is what happened to me by my wife and I we never watched regular TV so we decided Lyman page and we leave you know packages in and all kinds of it we just cut it out altogether. And and and I I've been told. He does she does. Up there with pages of notes notes has a list of the shows as you would know either but she does that's added after Al cuts that could be a bit of prop but it they'd like I just. I don't you scored. In and I think a lot of people are waking up to that and you look at what he's he's saying here and you know it it takes a lot of guts for. Robert Iger to come out and say what he said during this colors that look the last couple months we've actually seen it uptick in subscribers even though for the quarter. We were still down so you know it up to keep subscribers that to be three. But there what they're doing is there offering these with a call skinny packages ran up and this is to appeal to. The millennial generation they know they've got a problem with millenniums see you two are on the older side of the millennial generation. But the younger ones the ones that are in college. I'm telling it talked to you if you have younger siblings cousins nephews buddies that you know from sports. Ask them if they have gave I was out at at WPI with Michael bridged the keys class yup. And there's 23 kids in the class act and all of the off out off campus and in house up at how many guys have cable not one. Bought and buried you wanna know how I watched the Super Bowl this year strain apple TV. I do all seeded why China and watch the I didn't watch the other features as it look I debris and other TV and and move stuff around and everything that's of people coming over. I said look apple TV's allow me to stream it out through the CBS app why would I not do that. And it's free. These are all yes I CBS wanted as many people streaming it has passed and so the model they're models. Is changing to the point where people are no longer willing to pay for it and here's the problem right if you will. Record a show. You'll watch the commercials you passports or. Their business model is being challenged as well Alitalia and on some things when you talk about live sports what you're going to see on Dem I think is more on court on on player advertising like you see over in Europe and soccer where you have them instead of taking commercial breaks and European soccer even an American soccer now you have ads on the player's Jersey Els on the field and so forth I think you're gonna see a lot more of that taking the place. Of ads as businesses wake up and say look people were fast forwarding through our commercials we need to do something about it is. So I think that's something that you can do in sports to deal with. On TV shows I don't know what you do because product placement when he talked about you know you show the first scene of a a moving guys holding a Budweiser with the label facing new. No one likes that right you know it's it's it's noticeable at every once it sits there goes I don't that's not what I'm doing. And so these companies are going to have. A really tough time and it's not gonna happen overnight but we're seeing this as a clear trend that. You know these companies are going to have issues here and it's reflected in Disney stock price you had the arguably one of the two or three biggest movie events of all time last December. In all of the stock price has done since then is decline by about 2.5 percent. I mean this lake there there are some really really critical problems with that industry and and I. The dog sentences on 29 years old I cut the cord and it's great I'm never going back to. Yeah it's via the damn thing where they still have these guys and have all books is on the line. You have to have Internet until you get an alternative to. That's and that's we had that company we interviewed just couple weeks ago exactly. Now the one thing what I'd love to see the FCC do which I don't think they'll ever do then is I love to see him break of the telecoms you know break them up and say look we're we need to have more competition here. And that would drive cost down on the Wi-Fi significantly has. You talk about how much it cost to maintain that right now it's pennies. It's pennies and so I look at that and I think that's an area where I would you know say he did you get some change happening. But I think that you know you talk about Disney talk about a 20th Century Fox he talked about. Comcast to talk about those types of companies. They've got something that gets things to worry about. Especially if an alternative. To Internet delivery treats they definitely get. If if you get any competition in that space especially in your city struck. Is because that's where it's most likely to happen first. We're right here. In your can densely populated in the rural areas that a price be a problem for a long time yes but in Europe even in your suburb areas you might be able to get by. With some new form of Internet Internet access I can. Weekly agree night I think that these these companies you know and and look internally I'm sure that Disney is at their go what do we do yeah. But you know you've got to figure these companies have to start planning for this today. Because this is always gonna be a trend that excel it's you know it in the early adopters it's a slow moving group and eventually gets to a point where you reach critical mass and people start moving over into yet. Is it really it hasn't been that bad so far it's like about a 1000005. Ohno on an ESPN ESPN's lost eight million subscribers that in terms of cable people oh yes and yes point five million. Yes part of its program. They edit their programming in my opinion has deteriorated over the last twenty years when I was younger I ESP and was my goat to sports it's just I can't tell you. I mean even looked. Not good up next we're gonna be joined by Erin lash from Morningstar to stocks Hershey. And mom believes are on the docket that's next on the financial exchange from the insurer match dot com studios. Whether the election is carried by red or blue find out what we'll do tiered green right here in the financial exchange on the financial exchange radio network. According to a recent survey conducted by Genworth the average cost of nursing home care in New England is 1121000. Dollars per year and this average cost is expected to increase to 175000. By the year Tony Tony to how quickly when your assets being depleted if you read or write checks to the tune of fourteen to 151000 dollars every month well it's certainly ideal to develop your asset protection plan in advance like tends to get in the way if you were a loved one they're faced with an unexpected nursing homes today and you haven't done your planning before you write that check pick up the phone and get some expert advice the law firm of Cushing in Dolan has been helping families just like yours protect their assets for more than thirty years they've put together a brand new guide for Tony sixteen called planning for procrastinators. You can not put off this call any longer get your free guide them learn how to protect your assets 8668485699. That's 8668485699. That number again 8668485699. El Nino is ramping up the hit the northeast hard again are you prepared for another long winter if not then you need to go insure a match so they can help make sure you are there are offering a free winter preparation guide to help you take the necessary steps to lower your risk of damage this winter the easiest way to get this guy this to visit winter insurance guy does come that winter insurance guy does come you get kids in checklist to help you manage your risk and lower your chances of having to file a claim against your homeowner's insurance which could increase your premiums or potentially have you dropped by your carrier. This free guide will include important reminders of protection to consider for your home and car including changes you may need to make your policy to be best prepared to winter weather will be here before you know it so don't go away isn't winter insurance guy dot com and download your free guide today let your friends and ensure a match help prepare you for the winter ahead. Go to winter insurance guy dot com that's winter insurance guy. Dot com. Everybody Barry Armstrong here and I'm joined today by pot luck ski from law firm Cushing in Dolan. We're talking about last minute planning techniques that can help save your assets in the event going to nursing home. Todd I'm hearing more about these things called. Cooled trusts what is a pooled trust and when woods and we use pooled trust. Great question again it's that ties right into these procrastinating situations where you're faced with somebody entering in nursing home. And generally it's for single people I would say this is more so than a married couple. With a single person who's entering a nursing home and they have all this money that they don't know what to do it up to spend on the nursing home. Or 10121000 a month but probably more. Or take the assets and put it into what is known as a pooled trust me I won't explain it just understand that it's a place the money can be put. It would then be managed and invested by professional. And the money and there is now not accountable for Medicaid immediately and it's one of the very few. Options we have to avoid that five year waiting period you've heard a five year waiting period happens all the time every time you give money its five year waiting period. Britain has pooled trust no five year waiting period and the money can be used for the individual was in the nursing home. And when they passed away yes you pay back the state. Whatever that the state paid but it's a much smaller rate then if you are privately paying. In whatever is left after you give a little piece to charity go to the Clinton could still be about half it's a great technique could certainly use the money. Right it's never too late to do some last minute estate planning in last minute Medicaid planning. Call Cushing and Olin at 866848. 5699. Received their guide called nursing home planning for the procrastinators. Stole 38668485699. We have operators standing by right now to process your request. 8668485699. The market updates come your way right here in the financial exchange in the financial exchange radio network. Everybody loves stop talking and we're joined by Aaron lash from Morningstar. Air and I appreciate you joining us this morning. It there are a couple of consumer staples companies here that we're going to be talking about today the first one being Hershey currently has a market cap just over fourteen billion dollars. Off its highs by about 20/20 1% here what do you see from this company in this environment. We think the marketing and over time but I think he's falling behind the permits realized in the US deployed some of its struggles in China. First with regard to the US on her she put through a price increase last year historically when they've done now. Volumes have retreated. On port a few quarters. But given the firm's strong brands and entrench relationships with retailers weeping as volume aggregation will ease over the course. Of this spring holiday season. Further with regard to China. We estimate that market account for about 5% of Hershey's total sales. And at such as too small to significantly. Active. The firm consolidated performance. And we think that investment that they are making to expand their product portfolio. To include items. Everyday items at tide of gifting which has altered. As well as expand their distribution. In our minds you know ultimately prop up their growth in this region longer term. How much concern is there just with the increased emphasis on health for the US consumer. That this is a company that may just fall victim to trends in terms of what people were eating over the long term. You know. Confectionery and chocolate in particular has always been considered that portable kind of indulgent. And military and we don't believe that changing Hershey similar to other confectionery company is working to simplify the ingredient profile of their products. They have expanded their portfolio. Until include Brooke writes for instance which has that harder. On fruit filling. Don't and don't wait they are appealing. It acetate as well as adopting or adding. More arm. Into mountain bike type type offering their product portfolio which caters to a consumer that's looking to limit under intake of these offerings. Now what about another company that we're gonna talk about here. Model these international and this is a company you know you talk about really the 800 pound gorillas in this basin this is one of them that is out there today. What do you see from this company date they've taken you know pretty decent beating his well down about 25% from their hearts. Yes you know they reported fourth quarter and full year results last week. From our perspective you know they also realized it volume segregation in conference their performance in terms of lackluster volumes with primarily concentrated. Within their emerging markets. Segment had a portfolio. In areas where they had. Raised pregnant significantly off stack them on the foreign currency. Devaluation but they've experienced. Our view looking North America they realized more balanced growth. Between price and volume until we think that that indicate to our armed suggest that the portfolio their portfolio of strong brand hasn't wavered. I would pay the pickers story with mandalit del longer term. Is there opportunity to come take pot status but didn't and improve the efficiency of our they're operation. The profitability has lagged other package for the operators and we think. Particularly following the merger between practice kind. Last year we think could be independent or the artist is going to be current consumer product company. To make sure that they are operating as efficiently as possible or risk being are falling into more capable hands. Now I've seen some some rumors in the last couple years now that model is maybe part of some type of mega merger. With some other names in this space have seen Coca-Cola tossed around as one just because of the links to three G capital. Is that something that you think could be a deal down the road in terms of getting that cost structure in line. You know from our perspective you know to reach Ian kind have been very explicit that they want to remain consolidators. In the consumer product space. I'm from our perspective. Craft kind of click eventually. And if Condoleezza effort patients taking it to right profit. Improvement. Alters they could. Book to scoop up mandalit down the road on how ever. Integrating those two operations is obviously a sizable undertaking. Until we don't think that that would occur for about a year tale. Forget what Aaron I appreciate you joining us today thanks for the info. Erin last pro Morningstar and if you do want a look those up on your own Hershey has ticker each and why. Mon believes with a ticker MDLs. The impact of energy costs. I'm both those guys now. It's going to be a benefit doom him in terms of getting their cost structure temporarily down I think the problem with them. Is unity that's kind of a transitory movements not something that you expect to maintain for the long run but I think energy you know both in terms of their production costs and transportation ray is that it's a huge benefit to them and should benefit margins in the short term. Yeah what one would think. I'm looking at what's going on in terms of market action I've got oil trading under 28 dollars a barrel CL a you know he got up to 34 last week but he can't hang in there he's just too much production still on line. And even despite that energy still up for the day. And he still up almost 1% on the day here the sector and an energy sector the FBI the NASDAQ is is really leading the way so far you know you talk about where that is that's really been moving up to after it you know really tough day yesterday. Putt couple months it's that. It really has you know just that entire growth investing platforms has gotten hit hard. Thank you all for tuning in to this hour of the financial exchange featuring chuck is not a and very Armstrong like us on FaceBook. We're producing this program from the insurer match dot com studios. According to a recent survey conducted by Genworth the average cost of nursing home care in New England is 1121000. Dollars per year and this average cost is expected to increase to 175000. By the year Tony Tony to how quickly when your assets being depleted if you read to write checks to the tune of fourteen of 151000 dollars every month well it's certainly ideal to develop your asset protection plan in advance life tends to get in the way if you were a loved one are faced with an unexpected nursing home study and you haven't done your planning before you write that -- pick up the phone and get some expert advice the law firm of Cushing in Dolan has been helping families just like yours protect their assets for more than thirty years they've put together a brand new guide for Tony sixteen called planning for procrastinators. You can not put off this call any longer get your free guide and learn how to protect your assets 8668485699. That's 8668485699. That number again 86684856. 99 mortgage rates are still at an all time low and it makes sense to take advantage of these rates whether you're refinancing or buying in the moment 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 -- 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 -- 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 bank for all your home buying or refinancing needs 8776917900. That's 8776917908776917900. Or visit leader bank dot com member Jesse equal housing lender. L meeting. Though is ramping up to hit the northeast hard again are you prepared for another long winter if not the need to go ensure a match so they can help make sure you are their offering a free winter preparation guide that will help you take the necessary steps to lower your risk of damage this winter the easiest way to get this guy just to visit winter insurance guy does come that's winter insurance guide dot com you get tips and checklist to help you manage your risk and lower your chances of having to file a claim against your homeowner's insurance which could increase your premiums or potentially have you dropped by your carrier. This free guide will include important reminders of protection to consider for your home and car including changes you may need to make your policy to be best prepared winter weather will be here before you know it so don't delay is in winter insurance guy dot com and download your free guide today let your friends and ensure a match help prepare you for the winter ahead. Go to winter insurance guy dot com. Are much. Leader bank has a new innovative program called Zuma. Zuma rewards account in GA tour Lee vice president of leader bank is here to tell us all about it that you buried so this is a pride we're very excited about. These calls that rewards to get it checked he accounting companion savings account. It's really simple as long as you qualify by doing three behaviors. You get three benefits. The primary benefit is you get a savings rate of 2.0 5%. Up your first 50000 hours. 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Find your favorite news photos and sports updates on your phone when HP mobile from the Associated Press AP mobile where the news gets its news. Yeah. This is the financial exchange we've Barry Armstrong. This routine you're street stay on top of breaking business news and learn how to manage your money to help you towards them. More secure future and now broadcasting live from the insurer imagined I'd come studios it's the financial exchange we view post. Re Armstrong's. If you ever wonder what it would be like to try to teach people how to whistle just watch what Janet Yellen is doing today. That's if if she's giving cottage he's giving testimony. And it's it would be like. And somebody trying to explain Astro physics. You know to. To you and I mean I just. Good luck if she I feel bad for the war she she's giving testimony. Basically. The the the dialogue that is occurring is that. Yeah I you know monetary policy's not set in stone we're gonna do what we want when we think it's appropriate. But she's speaking in a bullish fashion about the US economy. And even though she's doing that stocks don't like stock had been up as much as 200 points that are comments now they're only up to 74. Its own and I think that stocks have a little bit less safe stocks I think the market and market participants have a little fear that there is still that potential for a march rate hike and hasn't taken that off the table completely new and while I don't think that we are going into recession. I don't think that were also in a position where we can stomach. Four to five rate hikes this year I don't think that's something that this economy can deal with that BP could deal with one to two but not. Well it's it's hard for them they they. They're gonna have to wait and see what Germany does there have to wait and see what happens in all of Europe well either have to see what happens in China Japan. And you've got all these countries that are cutting rates and they don't care they go negative Sweden has been living with negative rates for several years now Della and they don't seem to mind at all. Austrians also a little bit of the unique situation very small note tiny country and and very much a you know fully socialist country there. Very different I think from what you see over here let's talk a little bit about the domestic job market. And eat you know we saw some data. Released in the form of a jolt report and nobody pays much attention to this because it's dating all the way back to December but the fact of the matter news. You've got American workers try. Quitting their jobs at the fastest rate that we've seen in more than nine years and that to me. Italy in in and day that's rate the you know some of the data I get makes me both so that makes me bearish this is bullish data. The the American worker. Yeah it it is and what we saw were three point one million voluntary quits in the user was a voluntary but you know being forced out you're leaving because either today. You can retire or be you think you're gonna be able to get another job somewhere else or maybe you already have that in hand and you're going to take that job so I think that's the case in most instances. When somebody quits it's either for your your point right there retiring yup which we have an aging workforce so that's conceivable. I don't know anybody that has quit his job and said well I'm gonna take a few months off figured out yeah and and find you don't know minimal ideals do you in oh. But not at that. You know they did. All life. All my friends when they quit a job. They try to wolf they may have a job and hand but they try to set it up so they don't have to start that job right away so maybe have a month off to go traveler two months off to go do something. I see that quite a bit with a lot of people and here's your political. Update for the day. Chris Christie and his campaign. You've entered a political free zone when he joined us on the financial exchange I find politicians to be so disgusting. That I can't. Fathom the thought of spending I I know shows that talk about politics for horse powers. Before the shower in the office he could deal with the but he just feel dirty go through for you know I just can't do it you know. But Christie is out Kristi prisoners out out. Ari here's a trivia question for you what area of land was being disputed in the French and Indian war which is also known as the seven years' war if you know the answer that question. Texas we play trivia every day here in the financial exchange. Our text number is 68680. What area of land was being disputed. During that French and Indian war Indian war excuse me the text number here is 68680. Should you happen to know the correct answer to that question. New Education Department office to crack down on colleges. And you know there's something wrong with this story. What doesn't what does it click for you you know we we we have a problem and I think we've all we've we've talked about it. You guys have student loans and in your paying them back god bless you but there's. Millions of people that don't pay back their student yeah. And these are federal student loans where they're not underwritten for credit quality. And anybody can get them so if you want it to go and learn how to drive a truck he could get alone and go to the truck driving school or hairdressing school or you could go to news. And borrow the money to go to Dartmouth and major in philosophy major philosophy and and eat the federal government makes that loan. It guarantees the loans you is the student you're guaranteeing loans very hard to get these loans. Dismissed but now. The president wants to create an Education Department and I have a better at he's doing this because he wants to crack down on colleges what's the what's the better idea. The better idea is if you want it if Tucker Silva. Wants to go to Roger Williams college and borrow 50000 dollars for that pleasure right up. Roger Williams College should be co signer on that lol. And they'll be darn sure I like Roger Williams will be darn sure in Dartmouth will be darn sure and Bridgewater state will be darned sure that you get a valuable education and you know what. They'll stop popularly eating the schools with kids that right now a lot of them are art I dislike daycare centers. We're parents send their kids their docket if it's true her foot. Diet at that I don't disagree at eighteen you don't want your child living in the same house. I was talking to what one of our. Both ways your child does want to be living in the same house as he was well right that they don't have the ability in many instances to the snow support themselves. And so what happens with a lot of these colleges you guys went to school kids that had no interest in being in college or just there to party. They're just there is there a man was off their back and when they went to college and they could careless. About actually getting image. I'll tell you what you know what else I'd like to see is instead of kids go straight from high school to college because look when your high school senior you have no idea what's going on you don't understand the world and I don't cases you know. I'd like to see kids get a couple years work experience for the go to college. Yeah well or how about military whether it's. Military experience whatever they do in Israel. Right you finish high school you go to military get a morbid existential problem they have over there they kind of need everyone to be able to us. Do something given to. Given the situation there aren't boarding team work experience track reflect whether it's a look whether it's a year to you know some type of apprenticeship for intern ships just of the you're out there any understand how businesses work can you understand what you have to do in order to make a living because a lot of times kids go to school and they say look at gonna be a doctor they take like two years and not even two years they take maybe two course of intro bio and everything. In there like I don't wanna do this anymore there's still in college they don't know what they want to do there racking up all this debt you sit there going were paying for it in and of course the whole time the knock on the class half the time I say this. Hi mom hi dad banks but you know that's kind of the reality is a lot of kids that it it's they're not ready for college at age seventy are within. In the it's it's it's it's not it is because of how. The colleges are bringing them in an and I. I point the finger at both public and private colleges right so I'm talking about the leak you know the heat the University of Phoenix and index capturing Gibson and all of these. Schools that were designed right to it too to teach trades perhaps but also. You know when you're talking about UConn war Trinity College. They are the these schools need to have skin in the game they've got these huge endowments and what's at Dartmouth and now a couple billion dollars. Keep mine a lot of schools there are very many schools that have the type of been down with a dark and their Harvard or Yale. You know you look around and there's an awful lot of schools that have a fifteen million a hundred million dollar endowment that they can't do a ton with given how many students they have at that school. I think. For from my perspective the other thing that you're got to remember. There's no real competitor. To college out the tickets if someone said look like I've devised a program that instead of paying. 40506200000. Dollars syndicate's college my book it's to your program because he 101000 dollars a year. And here's what it's gonna prepare you for wouldn't that be more attractive. You know I talked to. Couple from the cake yesterday and there. There. Sun at age eighteen decided to join the Marines because he recognized that age eighteen. That he was not ready to go to college and knee he joined the Marines and and he said this this the sun. Yeah it has made the statement whose parents is the best decision he ever made because it helped him grow up so all joking aside military service. My W bat precursor or how about tying these loans right you wanna borrow money. Two to go to college whether it's again whether it's Trinity College in Hartford or whether it's Bridgewater state in Massachusetts. And yet willow knew the money but you need to do two or three years of military service before Wheeling him out. And looked you know one of architecture nights and they look my son working for a year after gets out of high school did you this year did the same thing with our daughter and a benefit of her life you know I think just being able to be out and working and understand the needs in the real world because in school it's just okay need to do what I need to do to get an a or beer whatever it is. When you're in a job it's not about getting an a or B it's about being able to provide the services that you are claiming you're gonna provide and I think there's yet you just have to understand that. And I think that's important for kids to get before they go to these schools but I do like your idea of bot time the schools these loans do I do like that. Up next we're going to be joined by Dan Hart here's the headline. Aetna silence points to headquarters in play we're talking about the headquarters for the Aetna. Insurance company. Are they going to move out of Hartford Connecticut. Dan Hart's gonna give us an update he's from the Hartford current you give us an update on that and much more coming up next on the financial exchange from the insurer match dot com studios. The collection 2016 member who will have an impact on the economy I don't know right here in the financial exchange on the financial exchange rate them. Work don't put all your eggs in one basket focused on the forest not on the trees look before you leap and don't stick your head in the sand those may seem like cliches your follies to say but when it comes to your investment portfolio they are words of wisdom when the markets are down 300 points one day -- up 200 points the next it's hard to know which way to turn handling market volatility can become easier if you diversify your portfolio know what you own and why you own it know where to look for buying opportunities at the downturns and don't get too comfortable when the market finally does recover call for our free guide to handling stock market volatility and measuring risk 803934001803934001. Understand how much risk you're really taking with your investment portfolio 803934001. Securities offered through securities America incorporated member finreg SIPC and advisory services offered through securities America advisors incorporated Barry Armstrong represented their Armstrong advisory group in the securities America companies are unaffiliated. According to a recent survey conducted by Genworth the average cost of nursing home care in New England is 1121000. Dollars per year and this average cost is expected to increase to 175000. By the year Tony Tony to how quickly when your -- that's being depleted -- -- to write checks to the tune of fourteen or 151000 dollars every month well it's certainly ideal to develop your asset protection plan in advance -- tends to get away if you were a loved one are faced with an unexpected nursing home study and you haven't done your planning before you write that check pick up the phone and get some expert advice the law firm of Cushing and Dolan has been helping families just like yours protect their assets for more than thirty years they've put together a brand new guide for Tony sixteen called planning for procrastinators. You can not put off this call any longer get your free guide and learn how to protect your assets 8668485699. That's 8668485699. That number again 8668485699. If you're looking for a great deal on a new counter program you should check out the -- rewards program to leader bank is now offering it's and checking account along with the companion savings account and as long as you qualify you'll receive three benefits first you get a savings rate of two point 05% annual percentage yield up to your first fifty K all agree TM fees from news and other banks will be reimbursed and you'll get 1% cash back by using your debit card and visa credit purchases just sign up for the statement with the account direct deposit at least 1000 dollars per month and do a debit transactions per month cult leader bank right now at 8776917900. To learn more about the -- rewards program that's 8776917908776917900. Member FDIC equal housing lender zero point 20% annual percentage yield earned on portion of daily balance greater than 50000 dollars those who do not qualify presume rewards will learn zero point 10% annual percentage yield on savings -- member FDIC. El Nino is ramping up to hit the northeast. Hard again are you prepared for another long winter if not then you need to go ensure a match so they can help make sure you are they're offering a free winter preparation guide that will help you take the necessary steps to lower your risk of damage this winter the easiest way to get this guy just to visit winter insurance guy dot come that's winter insurance guy does come up you get to some checklist to help you manage your risk and lower your chances of having to file a claim against your homeowner's insurance which could increase your premiums or potentially have you dropped by your carrier. This free guide will include important reminders of protection to consider for your home and car including changes you may need to make your policy to be best prepared to winter weather will be here before you know it so don't go away isn't winter insurance guy dot com and download your free guide today let your friends and ensure a match help prepare you for the winter ahead. Go to winter insurance guy dot com that's winter insurance guide dot com. Well you'll work. We're working here. Keeping you up to date on all the latest market trends it's a financial exchange on the financial exchange radio network. The area of land that was under dispute during the French and Indian war was the Ohio valley. Britain wanted France out of the Ohio now. And Julie from north Redding had the right answer there Julie takes on the financial exchange mode. Our good friend Dan Har from the Hartford current joins us to talk about the Aetna story nobody closer to it than dance again. Well we are there are rough it's. Yours are are at or close to being lowered it one yes. Well you've been covering this story and I think you started writing about it several weeks ago after GE made their announcement that there are leaving. Now there's speculation. That Aetna is not terribly committed to Connecticut. Well we got beat up or apparently exactly during the speculating aren't like. January in right at work and it there. Former trading were replaced bench and has a little bit murkier at a patent that any mother banner. Other than arm back and they June 1. When Agee said we're gonna former comedian we're gonna look to move our accord that you know what they were more specific topic there. Yet that there. I'm like that hasn't been anything that date and we will move operation. But there's speculation arrive at our product that they're making an oracle not. And their lack of any statement and I think that there's a process. To reconsider whether it orders well it. And so there isn't much murkier question we don't have sources saying. And it is moving a quarters or might move it at. It's just that they they at every opportunity where I. Thinking about where's that going now they won't say so there's and when you combine that with what's going on regarding wonder what. What doesn't the CEO of Aetna have several business proposals from other states inducing him to leave Connecticut. I would imagine. Many yet because the usual staples that in whatever operate you know or any other country in the news. Partners or speculation. They stay jumpin and they think I'm here come here you know in New York. The only fighter because everyone knows that the New York mark Birtley spent an awful lot of time in the New York. Because New York is new York and yeah extinguished. There's going to be at. Five or 31. Operate when they merged with is Matt. And you know there restore reason or page rank up in New York City either you know what sort of money here and there were a lot of other things or. Dan can how many employees does that now have in Connecticut. It. And we're not talking about we're not talking about. All 6000 of the jobs leaving if the headquarters were to relocate your price talk in what 2300. That's probably outright yes two or 300 yeah recruit critical job but certain. And it. Decide. It remains committed at all. It's ever workforce and in Connecticut. And any time we engage in speculation. We get this sort of secondary and tertiary. Shock wave of people. Oh my god is moving out and under no circumstances that quote unquote moving out there are in movie out of their building. A and he has heard a bird but I think it's a little bit less than there are working well. And and rarely ever come into the office. It economy doesn't recognize any worker on where art art art predictor there in the greater aren't. Same region. Yup Dan do the political leaders in Connecticut when they'd be in the legislature in the governor's office. Do they recognize or did they feel that all that they need to do something to improve the business climate in Connecticut. All right so right when you look at the proposed budget released supporting it. 569. Million dollars in spending including by archer. All what you call discretionary agencies Richard of people that are not discretionary. And you combine that was embarrassed there is no Spock. Are the most vote. And person in the state senate and don't think sweet right there respect that but it meant that they're out to note that. In this session gave Walt and so yes there are very much but there's. Right now and and of course all the groups that are affected by the end are marching in the capital hour by hour as we speak right course and you know later this afternoon they're related to. They get the money don't wanna keep an ST. Right now Dan are there rumors of any other companies whether B Stanley year you know there's a number of fortune 500 companies in Connecticut. Any rumors of them being unhappy with the state. No. That's a good thing because there. Our our lord a year and too generous to an extent this year with the question vote. And get to institution has you know work. Companies will comment will go overall and its corporate. When an academic. And corporate. Straight route there's a quote from corporate tax rate and nominal corporate and they their basic argument actually in the middle. And it is not I buy an easy. And so you know when I went shot groups like that that. We will restart but not act straightened and them and they L connect is that number 44 it is one state. You know that's. Op at an. Well big contoured of that though Dan boom look at your sales tax credits over 6%. Right yeah. And its that's among the highest in New England. You've got a very high rate of income tax and property taxes in Connecticut are exceedingly high so the the cost of living in the cost of employees. Is consequently higher. All brought. Eat me up when you look at it when you look at a nominal Britain attack. 9% which is very I'd better not I very but I used to track of that C. The so called expenditures were children sort of silly word to describe reductions that are they are enormous they are guard and shall. So it rains and that's typical amount that many upper east at eight to a very low level the problem is that there are out there and that. And that's onerous and are now and it that there are working on I personally think a lot of other. That patient load it. They respect and are some of the deductions so there's been error but at some of the big giant at least in anymore. Well we both share and we have that debate question would the so called unit very reporting that then I don't wanna hear it. Met since right now but as a catcher tried to say that I expect but it. That in the preakness back then not among the very. Got it got Dan thanks as always for your time we sure appreciate your participating in the show. They had a budget lost it happens that that in the next year or so. That's right. Kandahar Hartford current joining us today on the financial exchange up next we're going to be talking to. Kelly Brownell from Duke University. About the Soto report that's next on the financial exchange from the insurer match dot com studios. You gun Barry Armstrong. Financial exchange. It sure looked like me and she'll exchange radio network. Mortgage rates are still at an all time low makes sense that 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 -- competitive ray asked they're experienced about mortgage financing options and get a very competitive long term fixed rate your home whether refinancing or buying a new home work with leader bank calling 776917900. Or visit leader bank does come leader bank went over one billion dollars last year homeowners in the commonwealth of message you -- there's a true experts and mortgage finance deal with -- local bank today and call 8776917900. Or email -- loans at leader bank dot com visit leader banks are all your home buying -- financing -- 8776917. -- 908776917908776917900. Or resume leader bank dot com -- C equal housing lender. How everybody very are strong here and I'm joined today by Todd lets you from the law firm of Cushing and Dolan. Todd more and more people are providing home care for their loved ones whether it be an aunt and uncle mother father cousin. Is there anything that they care provider can do that would be beneficial to ban or the family from a financial perspective absolutely and in your absolutely right there we see this more and more today kids moving in with their parents or parents moving in with the children. Because they need to be care for. And when they're doing it the parent really wants to pay for the child services and input don't just pay. Right it's G a contract yet if you just pay it. It's gonna be treated as a gift under the Medicaid rules and you're gonna have that five year waiting period that we're all so familiar way. Every time you transfer the money it's five years what you need to do is sit with a little out of an elder law lawyer and draft up a personal care contract. Now you could be pain that child you know. 45000 a month easy I'll easily depending on the care that there to about it would cost to hire some exactly. And now by by having a personal care contract in place and the money is cleansed it's not treated as a gift the recipient has pay taxes that's how it's plans the recipient gets the money in house to reported as income on their income tax return but. No five year waiting period so as soon as that money's gone it's protected from the nursing homes so make sure you have that contract in place. If you're getting if you're providing care for your loved one. Folks Cushing and Dolan is making available guide it's called nursing home planning for the procrastinators. 8668485699. ES heard about eight caregivers contract that concept is covered in the guide. 8668485699. Do yourself a favor make that call now it might be called on behalf of your loved ones. 8668485699. If you're thinking about purchasing long term care insurance get the facts before you make a decision what type of policy makes the most sense for you a group policy or an individual policy if you work for the federal government or the military you may be able to obtain coverage through a special federal long term care program as part of this guide we've included information on the five things to watch out for when buying long term care insurance along with tax tips to determine if you may be eligible for deduction on your taxes when you pay eight long term care premiums you can request your free copy of this guide to long term care insurance by calling 803934001. To make sure that you have the right policy for you call 803934001. That's 8039340018039340012. Dirty suffered through securities America incorporated member finreg SIPC and advisory services are for your securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. If you're looking for a great deal on a new counter program you should check out the zoo were awards program to leader bank is now offering it's and checking account along with the companion savings account and as long as you qualify you'll receive three benefits first you'll get a savings rate of two point 05% annual percentage yield up to your first fifty K all of your ATM fees from you some other banks will be reimbursed and you'll get 1% cash back by using your debit card on visa credit purchases just sign up for the statement with the account direct deposit at least 1000 dollars per month and do a debit transactions per month cult leader bank right now at 8776917900. To learn more about consumer rewards program that's 8776917908776917900. Member FDIC equal housing lender zero point 20% annual percentage yield earned on portion of daily balance greater than 50000 dollars those who do not qualify presume rewards will learn zero point 10% annual percentage yield on savings balance member FDIC. It's the financial exchange at your fingertips well. Yeah. X 686. AB if the financial exchange on the financial exchange radio network. Very difficult trivia for you here today what was George Washington's rank. When he was fighting in the French and Indian war 68680. Gonna have to go back tier I school textbooks to figure that one out. Was George Washington was ranked when he was fighting in the French and Indian war if you know the correct answer to that question. Text us 68680. Is our text number. Trucks ought to work talk and so. We are talking soda and we're joined now by Kelly Brownell from Duke University. He's the dean of the Stanford school of public policy. And Kelly appreciate you joining us. I. Can you tell us a little bit about this report on a what soda companies are doing in order to try to boost sales internationally right now. What was not involved in the creation of the report but I have seen it. What this report did relief for the first time. It was to take a comprehensive look at the marketing of soda outside of the US must have been a lot of work on. Marketing and so they and other products for the medal in the US Bledsoe left side. You know what this report discovered was little little things that are being used especially directed to children. Are being used outside the US as well. And those would be. Infiltration into the schools. Are partnerships. With the athletic organizations. To. Bought some marketing and in traditional media why it. So that the other concern that exists in the US that unhealthy products are being marketed very aggressively. Is also concern outside the US. And in particular what types of increases in consumption have we seen in various countries. Outside the US. It's hard to know because the the other thing there are the most precise in the US where that beverage consumption patterns are all over the place but he. In the US the declines in the traditional flagship purchase from the company is like let's say Coke and Pepsi. Have been going down the traditional carbonated beverages but other categories like sports drinks and energy drinks and sweetened tees have been going up. And we're expecting to move certain trends will be occurring outside the US as well. And one of the concerns that this report brought up that I think has been voiced elsewhere. Is what products within a portfolio or these companies marketing most aggressively outside of the US. So all of these companies have a range of product extra goal from western more healthy. In which of those products on the market in most aggressively outside the US. Do we have any breakdown in terms of the the dollars that are being spent on various products or is that something we're still trying to figure out. That information is proprietary to the company is. And so I don't know the exact breakdown my concern. Is that the least healthy of the products police LT among their products and a portfolio are the ones being in the aggressively marketed outside the west. When we talk about the the countries that are being most heavily targeted both in terms of advertising dollars and other investment. Where do you see the the heaviest concentrations of dollars go. Well again shall argue no because that information has told tightly by the companies to. But when you look at corporate reports from the company is there's. A lot of our product the companies that are expressing in and expansion and what they call emerging markets but of course that can beat. The euphemism for developing countries work some of the world's most vulnerable populations resulted. They're certainly her group opportunities for the companies in the series just because the markets haven't saturated like they have been in the developing countries. But of course there's great concern about the rising rates of obesity and diabetes and most countries. Hence the concern about marketing tactics. Berger will Kelly I appreciate you joining us today thanks for fill us in on the info here. Thank you Kelly Brownell the dean of the Stanford school of public policy. From Duke University there's no doubt about that in the US you've seen as significant slowing in the growth of carbonated beverage sales are down 25%. In effect a lot of those companies you know you talk about Coke and Pepsi and have had to push a much harder. On sports drinks on regular bottled water and so forth in order to try to generate sales. After it's now now only with news. These things up well in America. Apparently you do that record to say were clear your putting to poisons in your body sodas please answer the sugar the if Ryder greatly during going to run and I echo. What I'd do ginger ale and whiskey. It's please note that I don't drink soda. Like some people are pretty insane I'm I don't drink at all. It's funny my sister's family they would have cases so in their house and my sister and all accusers skinny as a really they just nobody aside maybe maybe maybe other drinks that they let's take a look at solar city. This is the company. That Elon Musk is involved in the stock symbol Fortis SC TY. It is trading down 23%. At twenty dollars and eleven cents this all based on. Announcements coming out of there or use their meeting yesterday. Companies having trouble. Yeah and in this is after earlier in the day being down an additional lot couple dollars an additional 10%. Solar city is having some trouble and the positive for coming to jump on the causes are pretty simple to figure out is a solar at this point home solar is not cost competitive and a lot of cases right away. To install for most people this because it cost so much to to install the most people. Are better off continuing. To use his real regular grid power. Unless they have you know large facility where you have a business or something or big hole it can make a lot of sense in those situations. Well what you're seeing here is first of all there's a limited market. Second thing that you've seen. Is that with out tax incentives and solar city specifically cited sin tax incentives in the state of Nevada that are kind of up in the air about their status for renewal. Without those tax incentives it doesn't necessarily make sense in terms of the payback period so. The problem is solar city has a business that is largely dependent on regulation and tax incentives in order to exist and they know the pain that right now it's it's a product that. At the moment still is not competitive. Without those incentives for the individual. Consumer and for the individual homeowner. It's a shame because you do need. Be I I do believe in solar power. And you need the cost come down the electric technology. Still needs to improve from where it is today. But imagine if you could you know if somehow you could coat your cars in your buildings in your house up with solar panels that didn't cost so much money. And that work quite as. Big mean the size of the solar panel is if it's a big. Answer the big they're heavy in the enemy and and the thing is on a utility scale when you start looking at big plants that take up hundreds of acres and so forth. You can get cost competitive at this point because you're you know the scale is there. But on the individual home right now it's not there and that is and in the cost curve has come down a hole and on solar power but it still was not there for the individual homeowner at this. Point it a comedy. United stock in years ago. To some professors at MIT and these were Polaroid guys they edit it and they were working on this name and oh. Technology in nano technology solar panels. That were supposed to improve the efficiency dramatically and cut down on the week and the cost of manufacturing. But hasn't got no it is you're still. It's still a very expensive technology and to your point John. Without the tax credits which is why this tax credits were renewed an additional five years you see the live without that. It causes more problems and then conversely it creates problems for the utility companies the utility companies are screaming bloody murder because they're saying hey. You know Armstrong wants solar panels. When it's cloudy. And he expects us to have a fair and they might want us to buy gas electricity from them yet com when when it's on. In and it indeed it is unfair to the utility companies and frankly. It's it's a great deal with all the tax incentives for those of you who can afford to buy it in need tax credits. It hurts everybody who doesn't. The can't put about maybe you'd be living house that he can't use the Greenland and Condo that that will facilitate sort. Yeah exactly so it's you know it's it's it. Complicated issue that looked the next ten years when he talked about. The ability for individuals to continue to build outpost soul or no wind whatever it is something that you're gonna have to figure out better ways in agree with the Greg is as you said. It's not fair to the utilities were. If it's it's just the dollars don't make sense. So we can debated till the cows come home with the stock is trading at 1998. Retirement source city is trading at call at twenty dollars and in the last year truck it's been this high 63 dollars up tonight. Now another one of you on mosques company. Which is set tussle will report and somebody yesterday asked me how to Elon Musk made his money and regionally for PayPal. Yet he was they co-founder PayPal now it's mark got agree Eric very luck when it probably one of the smartest guys out there today. Macy's has a brilliant idea I love this idea and we're gonna talk about what Macy's is introducing. In our next segment you're listening to the financial exchange from the insurer match dot com studio. Every time the candidates speak they could affect your. Bottom line here how elections when we sixteen is already effecting you right here on the financial exchange this is the financial exchange radio network. According to a recent survey conducted by -- the average cost of nursing home care in New England is 1121000. Dollars per year and this average cost is expected to increase to 175000. By the year Tony Tony to how quickly when your assets being depleted if you -- to write checks to the tune of fourteen or 151000 dollars every month well it's certainly ideal to develop your asset protection plan in advance life tends to get in the way if you were a loved one are faced with an unexpected nursing home study and you haven't done your planning before you write that check pick up the phone and get some expert advice the law firm of -- -- Dolan has been helping families just like -- protect their assets for more than thirty years they've put together a brand new guide for Tony sixteen called planning for procrastinators. You can not put off this call any longer get your free guide and learn how to protect your assets 8668485699. That's 8668485699. That number again 86684856. 99. 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Securities officer securities America incorporated member of Famer SIPC and advisory services officer securities America advisors incorporated Barry Armstrong were presented their Armstrong advisory group in the securities America companies are unaffiliated el Nino is ramping up to hit the northeast hard again are you prepared for another long winter if not then you need to go insure a match so they can help make sure you are they're offering a free winter preparation guy that will help you take the necessary steps to lower your risk of damage this winter the easiest way to get this guy just to visit winter insurance guy dot com that's winter insurance guide dot com you get tips and checklist to help you manage your risk and lower your chances of having to file a claim against your homeowner's insurance which could increase your premiums or potentially have you dropped by your carrier. This free guide will include important reminders of protection to consider for your home and car including changes you may need to make your policy to be best prepared to winter weather will be here before you know it so don't delay isn't winter insurance guy dot com and download your free guide today and let your friends and ensure a match help prepare you for the winter ahead go to winter insurance guide dot com that's winter insurance guide dot com. How to market affect you in your business I felt right. It's the financial exchange on the financial exchange radio network. George Washington was a colonel during the French and Indian war. The wind there was Anthony. From gill nets and iron works in New Hampshire take noble mug to prevent the town actually believe it or not only. Where's don't know. Let Ari let's talk about Macy's you know we we've talked about retailers whether. The arrow JC Penney Macy's. Target see you name it. Holes in their struggle be the aid they're struggling to reinvent themselves and they are struggling. Because of people like chuck is ought to. Who buys everything on line and people like I'm becoming who. Doesn't wanna go to a mall not for the next forty days that tracks not as gonna become a retail. I've given up Amazon reliant that's the big one. And it's a question as to whether to make it. But what I like about the Macy's strategy in this is something that the used to do literally a hundred years ago. But what they're doing is they're saying to rest for two hours hey we've got east door. And we wanna create more traffic so we're gonna what you opened up a really good restaurant. Inside. Of our store not unlike with target did. With the drug stores member they did the joint venture with the drugstores yup get more traffic up and they start its old growth trees in the drugstores. Now Macy's saying hey. You know we're we're gonna we're gonna reinvent ourselves and give people another reason because that's one. Event that you don't do on line you don't go to Amazon. To buy a dining experience you go to a restaurant because you don't want to. You don't have to pour your own drinks you don't have to maker and appetizers it'll have to clean up the dishes when you're done have a dinner you wanna go and be waited. So I'll tell you what though I have I have a different theory. As to why this is happening you remember back in the fall. And in September October somewhere in that range remember that a number of investors in Macy's came out and said we want Macy's to explore their real estate opportunities. Would this system me more than anything else is that Macy's can't figure out a way to boost its sales in its stores right and so it's essentially going in taking that real state and saying look. We're gonna rent part of this out and it's it's taking advantage of the real estate they don't I don't know this is going to be something that boost sales I don't know. I think it will I think I think it'll have unity figure. You know let's see get a restaurant that moves in there that's doing 500 meals a day yup right. Let's 500 people. There are walking in and out of your store up and they might make an impulse buys the bicycle Keeneland my wife of of that handbag for Jenny in new pair of jeans. They might I'm I'm hesitant to say it just it doesn't seem like a good fit you know dining and in this type of retail now if you think about what may see sells it's not something really that. Quite compute to me IE I like the idea because I do at work on me like I'd I'd be the guy because you know they're gonna put the store. In an area. That you have to walk through because of all the way in the back of the kind of like Milken got lost in the entire thing to get the Milken grocery store got. Same thing and how many times have you gone into the grocery store and not come out just with milk. I whenever I've never been able to come out just with but I'll tell you what you know I'd I see it more as look we can't figure out what to do with the rest of our space so we're gonna do something and it pushed that responsibility to someone that's. That's kind of how like 603 saint Kmart had restaurants and he's talking good. You know like if there's a lot of stores that have you know. Cafeterias. Within them. But I'm talking about equality food service where it's a dining experience. Where you you you want to go. And and have a meet a better that we people would want to go to a meal that's inside of the store early this alls like think well I I know I would I I I would at least try it. And if it was good I would go back. I mean look don't get me if they put you know it's hard to find good rescued if all know it's not there's so much good restaurant where you live in the suburbs now that's why don't move out there who have got the suburbs your you know. Get routine yet. The other thing is you know there's an interest in doctors you know you did say K of one of our listeners that Kmart at a restaurant and he's inside. Another listener from 617 said Jordan Mario years had restaurants the bakery. And I sit there and say well yeah but those companies essentially went out of business. You know Jordan marsh is out of business Kmart is on the verge of being out of business senior and I just wonder if that's you know part of the reason was because they couldn't allocate their resources right. Somebody asking for three asking Sears and Roebuck even make it through the end of this year that's a really good question I have no idea. Yeah I don't know Marshall Fields that are back in the day it was extremely. Successful. You know eight that's when you don't have to they're trying something you have to try something here that that's really yeah that it. Nevada tried to something. They said you know what Elon Musk if you build a dig a factory in the state of Nevada will give you one point 25 billion dollars. Well. The body came up with the money so far Tesla and Elon Musk and not delivered the goods in terms of job creation. This one on Nevada though. Did a bad deal well look you unless they came out and Tesla said. By the end 2015 we think that we can generate 300 jobs in our first year war. They ended up with what was it 272. They were off by less than 10% that's that's not bad. Now Nevada for some reason had projected they were gonna have 700 jobs by the end of the year. And for me it says look the guy who owns the business is telling you peeking get to 300 why are you thinking that you can get the 700 they'd sell. That's that in that's why I say it's on the spot you know that's that's an ambulance because they. Do these deals all the time and you know he eats but unity either. And I I get frustrated by these deals because you look at. Stay company should move based on where it's a good place to do business not because. One Nevada gives tax deal in Connecticut doesn't you know I like it at some point you have to put an end. Well in and look I know that you have to sell the deal but so is being realistic if you hit your earmarks and say look we projected 300 jobs we got to 72 were pretty close. That's it that's easier yeah he'd understand then okay predicted 700 and got to 72. Don't you just look don't I just look dumb for doing it it's a bad reflection on you down on the company's. He he did you know that the Danish shipping company called bear ski ever seen the the the the containers that are ya together works huge company. 95%. Pay big transport 95%. Of the world's manufactured goods. If you want proof that the world global economy's slowing down just look at immersed. Who are earning results terrible. Yet they are there really struggling and it continues to show that international. Commerce is slowing down and at the international economy. Is not what it was several years ago we've not even go back a year and a half ago. It's not what it was then and it's it's because of China it's because of Brazil it's because of Russia you are seeing continued slowdowns in these areas and look no farther. Then Marist in terms of Mino. That's the hotel either right you wanna look at economic data were all I ask. It's look how many containers you shipping and how full our that. That's what matters now and they are not forecasting about rebound anytime soon know this is this is something in the air saying hey we're in trouble they they're canceling orders. For container ships gathers and pretty much their entire 2016 result is gonna be significantly below last year. And even in the next year they think they're gonna continue to be impact. You know we didn't get through half of our content for today's program so what I'll do is you'll be posted on our FaceBook page. If you want to check out what we didn't get covered during today's show. Go to our FaceBook page we are the financial exchange on FaceBook chuck Sodom and very Armstrong signing off for the day we appreciate your. Stop and buy and paying attention to our show from the insurer match dot com studios. Security suffered through securities America and remember finreg SIPC and advisory services such securities America advisors our countdown representative Armstrong advisory group in the securities America companies are unaffiliated.