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Full Show 10-14-16

Oct 14, 2016|

Full Show 10-14-16 by The Financial Exchange

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This is the financial exchange with the very Armstrong and showed soda. You're exclusive look at business and financial news affecting your days your city your world stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chunks. This is a really good day to be a banker here this CEO of JPMorgan. Bank of America Citigroup. You're pretty happy guy I guess it's a good date of the banker unless you're works John Stumpf. Who was fired on Wednesday night there'll be fired or if you've resigned I I I tend to think shocked he was fired tired but he ferry into. That I think that he probably resigned under threat of fire near as if it's you know it's what you're either going to say you resigning or were firing you but one way or another not gonna continue. 130 million dollars as you locked up the doors he didn't get that up 41 million dollars and nine bonuses that he had stripped I think what was that week or two ago maybe so he did leave some money on the table there not a lot you took an awful with. And still now 130 million dollars and I'm guessing he makes a fairly large donation. To anybody who's running against Elizabeth Warren in the next election right we knew it wouldn't be surprised if they wouldn't be surprised I believe that I'd give the guy a million bucks to say you know just here you go here throw some rocks that the person who is largely responsible. For his termination I think that her statements were so strong and I think that probably list had something to do. With his resigning him. I think it probably had some I think his own statements were just so weakened that first year I mean you're just terrible that first year. I mean I think I think got a demand. I think was even before the hearing when he was interviewed we reflected on it we posted our FaceBook page where he blamed his employees down. Former can't deny these you don't do that you so you fall on the sword. You do that Terry Francona lookalike right and you say you know it's my fault or Bill Belichick right Bill Belichick would send allows that coaching on my part. If he had done that from day one. I think you have been okay death I think you may have survived he didn't do it he's gone and but. JPMorgan city. And Wells Fargo all reporting earnings this morning in all three of them beating expectations. And their stocks are up as a consequence. Yeah all three coming out stronger than expectations looking first JPMorgan. They beat on both earnings and on revenue. Shown that they had much better than expected top line growth and Bancshares up only about. 1% in early trading today. And I think a big reason for that is what you did this this quarter. But the question people always have with banks what's going to happen next quarter what what things look like from a regulatory perspective from an interest rate for. Let's talk about that because the the the thing that I was impressed by what is these banks exceeding expectations. Despite the lack of banking activity investment banking. Activity you have talked about not a lot of mergers not a lot of IPOs so they're hitting these numbers these bogeys with you know low interest rate environment. I I'm impressed I I gotta tell you they to a JPMorgan make it two billion dollars a month. Yet they they ended up with I was 25 point 51 billion dollars in revenue. They ended up bringing in their mean it looked good in to. Very strong third quarter of the question that you always have with these guys and what does the future look like around the corner. And part of the reason that banks have sold off in a JPMorgan. Is it is a company. That generally in terms of from a risk management perspective is thought of as the gold standard out there Jamie Dimon when the smartest guys out there from that perspective. And JPMorgan I think is kind of the cream of the crop and you can see because of how they perform this year you know since that February downturn they've risen from 53 dollars a share up 68 okay. If you go around and you take a look at some of the other companies out there if you were to pull the Goldman Sachs okay. They have had a much more. Kind of modeled path through the year they're pretty much right where they started their little below where they started. So still some questions I think about where these banks are going to go and it still treating very cheaply. Wouldn't historical bit Morgan Stanley Goldman Sachs talents that they face is they don't have a retail banking operation either one of well I goldmans right to change that the value in we have a story out of it and be there be they don't have a thousand branches don't eat they don't have the walk in customers now you know they are really invaded Morgan Stanley in particular. You know there are relying on their retail brokerage. That they do to generate all the revenue. Yes it's with with those companies you know especially you'll get Morgan Stanley and historically the main driver for them has been investment banking activity in particular the last 25 years the tech desk at Morgan Stanley is the best in the business they've done the IPOs for FaceBook or Twitter. All the big guys Morgan Stanley is the name to go to intact. Well what if he had the tech IPOs this year you know it's it's not like last jury had an Ali Bob it's not like 2013 where you had a FaceBook you don't have a Twitter Groupon. You're waiting on snap when I steer you in on Hooper how long we've been talking about over to about two years now you know so you've you've got a couple that are on deck for next year. But it's been a quiet year in terms of IPOs this year. And these companies have still been able to say hey. We we we still turn a pretty good profit. Rumor has it that there's going to be an interest rate hike in December we've talked about it chuck has said it's I think two thirds liked bill probability maybe even higher than 270%. And then you've got fed officials saying well they're going to be at least two rate hikes last year air next year. I just wanna remind you that they said there's going to be at least 45 rate hikes in 26 team we still haven't had one. In and we might get one in December likelihood what do we look at 7%. Yeah we are 65 yesterday today you largely on now Rosie green's comments that December's pretty much in play and that he's ready to go we are up to a 70% chance now. That you're going to see hike in the. December all right so if rates were gonna go up legitimately. Gonna go up two times next year wouldn't Bancshares beat pains. Pricing that in and trading higher. They could be unless there's also the thought that because of the Wells Fargo situation you might have additional regulation that's an offset you don't by the way we we talked about when this story broke about Wells Fargo in their opening up. Fictitious account and committing fraud we said I wonder if other banks are guilty of the same thing the other banks that you be concerned about obviously would be Bank of America. JPMorgan Chase Citigroup but who else has large retail opera. Or are those the biggest ones at them going through the list right now taking a look to see a mean you're you're the ones that are smaller something like Fifth Third Bank but that's nowhere near the size. On. And it PNC I mean that's maybe one that's it's there's not a ton that are like that Capital One doesn't have that platform is the there's really those three that you name. So you you look at that and JPMorgan this morning saying we found some cross selling issues but nothing systemic. So I wonder if Elizabeth Warren is gonna get her hands on. Jamie honestly firearms in the sand prove it. You know late group like. Get it going don't wanna drag him in I mean that's kind of their the modus operandi you that you you bring the CEO in and you. You toward other though yet he had some issues a fake money and we won't talk about. Yeah in and looked given what we saw Wells Fargo I think it's fair game do least. Poke around and see what's going on just because saying we had some cross selling issues. What does that mean exactly you like what what what does that mean is that one is that a thousand is that. You know less than two million but more than one militant Al what is some cross selling engines from. And hey guys coming up we're going to be talking about dating applications dating applications these are the things on your phone books. I guess they're going after an older and wealthier user that's where the money's evidently. Old people are willing to pay for their dating applications were as young people seemingly are not willing to pay for the dating applications. Tucker Sobel what is our poll question of the day and how to or listen to participate apple question of the day is simply have you ever used a dating and you can vote right now on our website at financial change you know dot com I voted no. I haven't used on either. Ever now. These these were after our time now really yeah where were to like my friends certainly do I have several friends and you're stating apps like tender. I'm banana I've used it very well participate because I'm I'm curious as to what are audience part. Whether they. Use these dating applications. Website financial exchange showed a cup are you looking for jobs Amazon. Adding 120000. Workers for the holidays at a time I would be surprised if they had a tough time finding and work. Mean you figure 120000 that is a 20% increase in what they hired last year so tell us your summary there. Every other company nick nearly every other company what do you look at a target Wal-Mart. Macy's Macy's FedEx UPS what those companies are hiring the same amount as last year it was on coming and saying. No we need 20% more and it's not like Indy got robot Dave who what's amazing about this truck is. Many of their warehouses. Have become robot where they they need fewer workers up. So the fact that there adding 20% means I'd like I'm trying to interpret what does that mean their sales growth is going to be in Q4 a book to see Q4 of sixteen compared to Q4 a fifteen. I mean I think it or go back if you wanna really have some fun looking Q4 of sixteen and compare to maybe Q4 of ten or eleven holy smokes. Yeah I mean it just looking I would put a ball park and this is just based on what they've done the last couple years in terms of revenue growth right now. I would guess that their sales. Fourth quarter this year are gonna be somewhere in the ballpark. 45 to fifty billion dollars out of say 47 billion that it 35 last. Now if it's an amazing it's a juggernaut Amazon is a juggernaut. Are right when we come back we're going to be talking about dating applications they are courting older and wealthier users will tell you all about it when we return. To the financial exchange for march or match dot com studios who. Powell the upcoming election and take your finances and your business but you know right here in the financial exchange on the financial exchange radio network. The 2016 presidential race has been volatile emotional and completely unpredictable but one thing is for certain on November 9 we'll have a new president elect and whoever wins investors should be prepare for market fluctuations hi this is very are strong and I'm not here to tell you who to vote for what I'm here to tell you is that my team and I have put together a guide -- can help you evaluate your financial strategies regardless of who wins call today 803934001. Request your free guide how a Clinton pour trump victory would impact the market and ask about our free one hour review of your current investment portfolio take advantage of this free guide and our free review of your investment strategy before a new president is elected call today 803934001. That's 803934001. Or download the guide from our website financial exchange showed dot com. Securities offered to securities America incorporated member and SIPC advisory services are with the securities America companies incorporated Armstrong advisory group the securities America companies are not affiliated. Advance the state claiming has many benefits including avoiding probate passing your assets along to your bloodline divorced proofing your kids' inheritance estate tax reduction and possibly eliminating estate tax each week Todd lets you know partner with the law firm of Cushing and dole and educates our listeners by telling them how to protect their assets from the high cost of nursing homes and this month he's suffering a brand new guide called back to the basics to help you avoid this very important factor call 8668485699. To get your guide today don't put added financial strain on your spouse if he or she -- go to nursing home call now for your free copy of back to the basics at 8668485699. You can also download it by logging onto our website at legal exchange showed dot com the law firm of Cushing in Dolan has been helping families protect their assets for more than thirty years let them help your family 8668485699. That's 8668485699. Or visit legally exchange showed dot com. Hi everybody very Armstrong here from the financial exchange and I'm joined by. Leader bank does a tremendous amount of mortgage loans as a matter of fact I've used them a couple times to refinance properties in the past. Jake how's the mortgage business these days it's been an extremely busy very. There are a lot of people buying homes. So that's kept the purchase market very very busy and then on top of that race are still at all time lows right so we've a lot of folks who are refinancing their homes either to get a better rate or pull some cash out because their properties appreciate it. That's I was gonna ask you how does somebody know whether they should call to refinance. Well you know. Dude there's really 22 ways if they feel that the rate can be improved. Give lesser rate down and you know thirty year fixed raise her all time lows. If you have anything in those in a 4% range frankly give a sobering canoe might be able to do something to or if you need to take some cash and of your property what hurt for college tuition for your kids are you guys have home equity lines of credit we have home equity lines of credit as well and the cool thing about that is. If you already had a great look breed on your first mortgage and get a home equity line of credit which will leave your first loan as it is allow you access the equity built up in your home makes an awful lot of sense and you've got fifteen year fixed rate mortgages five year adjustable rate Mort all types inflamed we we have all types of that in addition to that we're actually very active Jumbo lenders so. As properties have really appreciated in the markets in Massachusetts. There's been a higher demand for Jumbo loans and we do a lot of that so last year Berry were actually not the number two home purchase laundromat. It uses it for you congratulations folks that's digitally from leader bank they can be your mortgage bank call them toll free 8776917. B 900. You can check out all their rates on line at leader bank dot com or fewer and talked to human being. You called it loan officers standing by right now 8776917900. Vets told free. 8776917900. Security security ink member in PE. Of our security advisor. On represented at our target recruit and security American companies. It's our daily poll question for financial exchange showed dot com. Vote your conscience. There aren't just vote go to financial exchange Joseph does come into castaway. Some of the stories that we cover here on the financially. It's games that we feel particularly old especially owner talking about. Dating applications. You know. Which would if I was shocked by truck was measuring the story to the Wall Street during the day. And anybody over the age of thirty is considered to be old in the world of dean. I'm old mural old past my prime. I mean it previously. Applications if he would needle you join a great day yes there's an app called the league. In the air. Welcoming older singles. Those in their late thirties. And the reason they're doing it is. I guess older dieters from what I can see are willing to pay. For these dating applications where somebody who's 21 years old won't pay they won't pay Tinder they won't pay match they won't. The they want it for for death. Minutes if there's a definite generational divide there and I think in general. You see that with with a lot of different province and it's no different in this case where people and the cut off is anywhere between 35 and forty right now it seems. People above that age seem to be more willing to pay. They're twice as likely summit between the ages of 35 and 44. Art or more than twice as likely to pay for all online dating when compared to somebody who's. Eight teen to 24 so what is abusing its because if you're that age you're 3544. Dirty work in 5060 hours a week right. And you don't have time did because if you pay its faster rate to find a date. In theory you you would hope. I mean I'd a I don't know but I think in general logic that it was explained to me is that it if you pay. They do a better job screening for you you can date in advance when you're traveling neck with tender if you wanted to find a date. Eat in San Francisco say you're traveling to San Francisco on business. With tender pure paid customer you can find somebody in San Francisco knowing that you're going to be out their next Tuesday. On your mind blowing now but it's I also think in general look when you're 2122 years old you don't have a whole lot of money. Yeah you don't have much kicking around right gonna spend. You're extra money on on that chance that maybe find someone here I think it. You know I think that. Yeah when he's getting geared mid to late thirties start to have a little bit more money is okay help Leo if I need to liken tossed a little bit of money at this and hopefully solve the problem. Well at 35 years old if you're not married and went with the odds are that you do get married. My parents got married at 35 today they have learned that an Emmy until there were 39 on morality AV at the the their hearts that sounds like they're spending on average about twenty dollars a month. To be on some of these paid sites like tender I seem like a lot. I don't know that he did this is that my body but there's guys in this made me feel better. There's a guy 862. Years old he joint tender and point fifteen the program and he had to pay I mean that if you're 62 years old yet paid. All no no no no no. Now no other there's some women who did especially you know like you need thirties and forties there are a lot of women really don't want to lose a little bit older thirty got through the whole thing you know got lots of money. Well gold adding that that that could work in some situations you know and Angie you've got that on both sides though there's there's funny people also who were happy to you know do little bit financially and just say you know you want apartment here ago. Generic they were doing trivia today. Based on Margaret Thatcher evidently in our text number is 68680. Margaret Thatcher the first female prime minister of Great Britain from 1979. To 1990 was born 91 years ago this week. So we're doing trivia about the iron laid. In which year was Margaret Thatcher first elected to parliament. Our text number is 68680 weekly trivia every day here on the financial exchange. The first listener with the correct answer to that question will win a 25 dollar gas card. In which year was Margaret Thatcher. First elected to parliament and again our text number. Is 68680. And don't forget that the Armstrong advisory group is offering free portfolio reviews any AG we're here to help you pursue your financial goals so call us toll free at 800. 3934001. Goldman Sachs. They launched it yesterday I wasn't here for the launch that Goldman Sachs has started into the consumer lending business and I'll say what. I if I'm one of their competitors. I'm nervous because Goldman Sachs is going about this the right way in my estimation. Yeah other starting out with it's an online lending program called Marcus. You know the reason for that name by the way. Group markets Goldman Marcus Goldman OK Marcus Goldman and Samuel Sachs to founders of Goldman Sachs lucky lucky guess and pretty much what they're doing is there. Unlike their previous programs where it's looking need a minimum of five million dollars to invest in targeting. Big corporations and high net worth individuals this program is looking to offer loans up to 30000 people. To effectively third real high dollars or 30000 dollars and sorry to effectively refinance credit card debt and say look you've got a bunch of hype no high interest credit card debt. Move it over here we can lower your interest rate a little bit. And you know hopefully. Give you a little bit different platforms so they're trying to get into a much different market than they've ever targeted pre. He's a big difference here folks knew it would Goldman Sachs is doing as opposed to some of their other competitors lending club I guess would be competitor right yet. The big differences they're putting their own money. They've they've earmarked 130. Billion dollars that's which can do in your Goldman Sachs can do that 130 billion dollars. And you have to play can't be a deadbeat you have to have good credit you've got to have a like the score I think it's 660 was the minimum like a school. In order to be eligible for but you're absolutely right. They are targeting people with high consumer interest rate debt. And they wanna get them as a customer they must feel that there's a profit margin to be made here. There are offering the loans as low as five point 99% which sounds high from compared to a mortgage referred unsecured loan that's a darn degree. Right if you're thinking about this in terms of credit card debt you may be tweet be between fifteen and 25%. On those cards so it all you can do to pay the interest exactly so they gonna start at that rate they'll probably end up going up my guess is the top tiers probably around ten or eleven though. No prepayment penalties I don't know I noticed that and they don't crush you if you miss a payment. Is that that's the the other thing that I noticed in their program and again it's a little different in that you are not. They they're using their own money. I am I was curious as to why they did this I get I'm looking at from a profit standpoint and trying to think if there's really that much money to be made I think. This is dipping their toe in the water to see if there's interest and if this is an area they should continue expanding in twos so. I think this private land I think it's it's a pilot program for them just to see if there is the interest and if people are going to come to them. I don't know how much they're gonna get. Yeah what would they do set up a fund may be they gave they get started with a 130 billion of their own money. And then after five years they'd be able to say well this is our track record raided this is what we're getting. In terms of repayments this is how much they could though be interesting and then they could spin that off and say as an investor if you like to participate in this. In it's not a money market fund it's not guaranteed. It's a consumer lending fund. But you're gonna make six point 8% on heck I'd I would consider its magic get a five year track record. It would be interesting to see if you start getting into that side of things I do worry about some of the consequences there as far as. You start securitize these loans and things like that there's an issue that you're running. To get to maintain the quality right in the big thing that lenders tend to do is. They get so much cash invested and then they lower their lending standards and ordered him to write and use the cash you've got to keep it really restricted I guess if it's that good in your Goldman Sachs near that much cash liner on you don't need anybody else's money. No he just use your own money. It's I think they're gonna keep this internal and kind of use just play around the next year too and then see if it's something. They want to expand into further or there's some different spin offs you can do like on the U mentioned. All right coming up we'll have the answer to our trivia question of course. And will also be talking about Hewlett-Packard they are laying off between three and 4000 workers. Why are they were laying these workers off with the impact on the stock. I think getting increased their dividend all but more coming up on the financial exchange for march or match dot com student. Making your Smartphone even smarter. Download no mobile lab by surgeons financial exchange show in nineteen Jordan who. Well in store this is the financial exchange radio network. 2016 presidential race has been volatile emotional and completely unpredictable but one thing is for certain on November 9 we'll have a new president elect and whoever wins investors should be prepared for market fluctuations hi this is very are strong and I'm not here to tell you who to vote for what I'm here to tell you is that my team and I have put together a guide to can help you evaluate your financial strategies regardless of who wins call today 803934001. Request your free guide how -- Clinton or trump victory would impact the market and ask about our free one hour review of your current investment portfolio take advantage of this free guide and our free review of your investment strategy before a new president is elected call today 803934001. That's 800. 3934001. Or download the guide from our web site financial exchange show dot com. Securities offered -- securities America incorporated -- and SIPC advisory services -- with the securities America companies incorporated Armstrong advisory group in the securities American companies are not affiliated advanced state planning has many benefits including avoiding -- passing your assets along to your -- -- proofing your kids' inheritance estate tax reduction and possibly eliminating estate tax each week Todd lets you know partner with the law -- of -- and dole and educates our listeners by telling them how to protect their assets from the high cost of nursing homes and this month he's offering a brand new guide called back to the basics to help you avoid this very important -- call 8668485699. To get your guide today don't put added financial strain on your spouse if he -- she asked to go to nursing home call now for your free copy -- back to the basics and 8668485699. You can also downloaded by logging onto our website at legal exchange showed dot com the law firm of -- and Dolan has been helping families protect their essence for more than thirty years let them help your family 8668485699. That's 8668485699. Or visit legally exchange showed dot com this summer is still. -- of the kids are back in school and raring to go in this is a perfect time to reset your schedule in its priorities it's amazing how much you can accomplish by taking a few minutes to look at the big picture and part of -- for me was reviewing our insurance plants I just Jason Walsh chief marketing officer of the financial exchange radio network and if you're like me and needed to reset on your insurance policies I want you to call the insurer -- agency one call provided me with multiple quotes from several of the top insurance carriers I wound up with a revised homeowner's policy -- a brand new auto policy that included coverage of a third car from my older daughter because lord knows he doesn't wanna wait around to -- Marc Collins -- match today at 844 and 99 match that's eat for four and 99 match and through their Massachusetts division in charter let them resurgent present you with information that is bound to help you are saved over a thousand dollars a year in my new deal and I know they'll try to do the same for you call today at 84499. Match or visit them online at insure a match dot com. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917900. Workers at leader bank dot com member of. The SE equal housing lender and the lowest number 449250. Subject to credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by your bank's local underwriting processing teams traditional information call 8776917900. That's 8776917900. Were busy it leader bank dot com. Member of the NC equal housing lender and Miller is number 449250. -- credit approval leader bank a step ahead if you're like me I'm sure you've been following the presidential race it's been unlike any we have seen in recent memory and regardless of who wins it's very important for you to take a look at your investments so he can be prepared for any changes that may come to the market hi this is very Armstrong and I've put together a brand new guide titled how -- Clinton or trump victory would impact the market call for your free copy at 803934001. That's 803934001. Or you can download it from our website financial exchange showed dot com don't wait until the election is over to evaluate your current investment strategy calls today get the guy and take advantage of our free one hour portfolio review the election is coming and that may mean more market instability call for your guy today at 803934001. Or download it from our website financial exchange showed dot com. Securities offered through securities America incorporated member been SIPC and advisory services offered for securities American companies incorporated Armstrong advisory group in the securities American companies are not affiliated. The markets are still well though. Get our weekly monthly recap but becoming a member of batteries brigades visit financial exchange showed god come and sign up today. Originally a research chemist before becoming a barrister. Margaret Thatcher was first elected to parliament in the year 1950. Nine Sean from Dennis had to correct answer John's taking on 825 dollar gas card to gulf. Don't forget about Armstrong advisory group's offer for a free portfolio review. Let AIG help you pursue your financial goals call today told free. 80393. 4001. That's 80393. 4001. And set up your appointment today Armstrong advisory group in the securities America companies are unfairly. Are you were talking about Hewlett-Packard in this is of particular importance because there are major employer. In New England we're joined by a non Sharon Abbas and from Bloomberg intelligence I non RU. Good morning I mean we're glad to. How many jobs is HP eliminating. You know and he would be he's a news reported talk what you have 4000 jobs spread. The overarching banker here he is you know it's only one part of the cost cutting meat rationed care productivity improvements there are. Effectively caught that they can take our order a deep production. Of peace you can Intersil. He did this is a continuing story were you going to be. Caught come out. Each piece command chose it happened last year it's gonna happen again this year and likely to continue until. You keep secular gains in PCs and printers which unfortunately we don't see on the horizon anytime soon. Are they outsourcing a lot of these jobs. I don't think it's as much and outsourcing as a structural cost production. I'm age gender and the speaking prior technology company perspective. Some of these jobs can be. Outsourced if you want to structure metered use cost. Barred there's also automation. Which comes into the equation there's also the fact that you take a hard look at your business process entered figured what do you really need. And people for that particular process and and demand perspective opinion super continue make do with ten and when revenues are going down every year. Across every segment unfortunately you have to do that. Would how much money is the company gonna save with these cuts. So they are shooting for a billion dollars in fiscal seventeen. And they have a lot more in fiscal sixteen to be card. Barred those cost cuts also seem to be tapering off because you've already done a big chunk invesco sixteen so you're looking at probably about a bill ignores in fiscal you're seventeen. Now their dividend is currently about 3.2 percent but I think part of the announcement was that they're going to increase their dividend how much and win. So if you look at each peace dividend and you know it's part of their capital return strategy to be use stock buybacks as well as. And as dividends so there'd dividends are predicted to its current he had I don't feel like post cents a share for. Per quarter. Projected to go. A modest amount not do not or lard I mean be next payment. In the stock's been a bit a big winner this year hasn't. It has because the PC market has improved which is that disappointing part of this. The amnesty yesterday's fed the PC side of the equation and improving but he could look at beat. The margin on that side of the yeah. Of each piece actually significantly lower. Printers Kerry substantially more margin spend. Then peace peace sir you're seeing improvement in the lower margin area and the higher margin areas still unfortunately under the weather. We must make a lot of money on ink don't think. They do and supply terrorists substantial portion of it and ready to if they're darned if you do darned if you don't scenario because one of the things that you want to do if you want to. Make money on board the printer and the supplies which is a very challenging thing to do the average printer. In the consumers studied stayed home for two years on corporate say it stays state in the office or seven years what you wanna do is. Potentially sell the pro printer and in decent enough price but them lock in the seven years each piece supply tickled with that. And how you make money and that entire transaction. Is is toward each piece trying to enhance. Very get very at a non thank you very much for your time we appreciate it. Thank you grabbing a non trip to Boston from Bloomberg intelligence joining us with the heat HP conversation. They're big employers knowing he would Massachusetts. New Hampshire. Connecticut and a lot of jobs and how many are going to be lost in New England Fannie. It was part of the announcement. Yet and obviously it's a company that you know made made waves when they split into effectively splitting up their enterprise division from what they do. In hardware and I think in the long run that's going to pay dividends for the company for shareholders but the short run you seeing something like this on the hardware side where look. It for the last fifteen years and pretty much since the ninety's it's been tough to be computer hardware manufacture. Talking business beat you look at the printing business they'll let me have you ever had it going and buy ink for a and home printer yes though yet verbal. And it does more than make all the money back. It's Philly try to make automated so the printer for fifty bucks it's fifty dollars more each time you need it. Mow my wife came home this printer for the house and oh look it's only 49 dollars is very idolized in his very next Epson. And she ran out of ink after about an hour and a half. And this issue of back to the store in the darn includes more than 120 out into more than the printer yeah it's it's just like gods it's like buying a car they make nothing upfront and then it's. All on the service that's. That's where the money all comes in when you're talking about printers. Pay Verizon. Has put Yahoo! on notice after the data breach Verizon not happy with the data breach. But my question do you track is we talked about the Yahoo! data breach they had that was 500 million accounts hacked yes single biggest data breach in consumer history how does Marissa Mayer. Not disclosed that during the acquisition talks she had to have known about it is that it happened two years ago. She had two of and I think Verizon if if I'm down button based on this and you know you you can talk about the data breach and that's one thing but as you mentioned it's what does this say about the way that these negotiations were conducted what else was going on that we don't know about what else is happening in this company. That we we offered to pay four point eight billion dollars for. How much we really wanna pay for do we want it required by Trojan horse you know so if if I'm Verizon. I'm gonna for the exits. If not I'm saying look. We'll give either a 50% of what we originally offered or were taken off is this. If that was not materially disclosed in the negotiations there big big problem. You know nothing usual about this deal is if Verizon walks away. Yahoo! has to pay Verizon 145 million dollars that's the break appeased usually the other way around as it up they are buyer would pay the breakup fee so. Verizon either knew something or they just had really good bankers. Who negotiated that clause but arising get this done a lot of money to Verizon 145 million dollars but still. It's and in usual turnaround of events it's it's. Out of town for Verizon but for a company like Yahoo! that did. You know five billion dollars in revenue last year and 3% of their yearly revenue and how much of their free cash you know that's that that's a big chunk of change and yet you're talking in terms of free cash flow. That it. Yeah I mean that's that's a big talk you talk about 10% of their free cash flow. Larry Kudlow from CNBC joins us next from our insurer match dot com studios. Doesn't really tuchman Marion chuck do you got the financial exchange on the financial exchange radio network the election is almost upon us and regardless of who wins it is certainly possible that we'll see in effect on the market hi this is Barry Armstrong and I'll be holding a free financial seminar on Wednesday November 16 at Wingate residences in Needham Massachusetts where all explain what changes may be coming to the economy and how they might affect your financial strategy space is limited so reserve your spot today by calling 803934001. That's 803934001. No presidential election in recent history has been as volatile as this one join me for this free financial seminar at Wingate residences in Needham mass and let me help you understand how we trump win or Clinton win may affect your portfolio call today because space is limited 803934001. That's 803934001. Securities offered through securities America incorporated member can SIPC advisor services offered through securities America companies incorporated Armstrong advisory group in the securities America companies are not affiliated. Advanced to stay claiming has many benefits including avoiding probate passing your assets along to your bloodline divorce proofing your kids' inheritance estate tax reduction and possibly eliminating estate tax each week Todd lets you know partner with the law firm of -- -- dole and educates our listeners by telling them how to protect their assets from the high cost of nursing homes and this month he's suffering a brand new guide called back to the basics to help you avoid this very important factor or call 8668485699. To get your guide today don't put added financial strain on your spouse if he or she asked to go to nursing home call now for your free copy of back to the basics -- 8668485699. You can also downloaded by logging onto our website at legal exchange showed dot com the law firm of -- in Dolan has been helping families protect their assets for more than thirty years let them help your family 8668485699. That's 8668485699. Or visit legally exchange showed dot com. Hi everybody Barry Armstrong here from the financial exchange and I'm joined by Jake tool who's a senior vice president. And leader bank. And leader bank has an exclusive. Program for those of you who are landlords if your corrupt collecting rent from 110 and their 101 tenants. He ran it might be something that you wanna look into Jake talk to us about zero how long has it been around. We've been offering he ran for almost two years now two years and his have been successful it's been extremely successful we've. Offered his product to really target our landlords were still collecting checks in peer perform in this teenaged. 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And if you ever decide to move your bank relationship over waive the fee so it's pretty pretty simple it's pretty cheap. And it's a great product our landlord for absolutely loving it. Love it all right it's called see rent and the website for his www. Zero rent dot net. Or you could call leader bank hit 8776917. B 900 to learn more 8776917900. Collect your rent electronically makes an awful lot of sense to me the phone number again 8776917900. Or visit. Z rent dot net. If you missed any part of today's show not to worry good financial exchange showed dot com and click the listen. Then click on demand and catch up on every segment you'll also find podcasts of all of our poll shows just punch up that listen but who had financial exchange showed dot com. On Friday. Were always joined by mr. Larry hug he's a senior contributor to CNBC he joins us once a week. And you know what he's the author of the book. JFK and the Reagan revolution and by the way I'm looking at it on Amazon right now it's a very highly rated book and it's five stars on Amazon.com. They gonna read you a bright Bart comment regarding the Larry Kudlow book. JFK in the Reagan revolution. Economic growth what a great idea now if only we could get the Democrats to agree that growth is a good idea. It if only we could get the Republicans to be more persuasive in making the case for growth. This book by Larry Kudlow an economist in the Reagan White House and more recently CNBC host and Brian. Dom a trove like a senior associate of the whopper center for supply side economics is a strong first step. For the GOP now that's a comment unsolicited by the way. By bright part regarding this book JFK. And the Reagan revolution he secret history of American prosperity. And it's a good read if you haven't picked it up yet I would strongly suggest that you take a look at it Larry Kudlow track has had a busy week. He certainly has and obviously you know you talk about. You know where we are shaping up by you know heading into this election right now. Obviously what about three. Three we read an athlete and a half weeks away were we're getting there now it's it's right around the corner he joins us now are you doing Larry. Good good say I want it to compliment you you took a brave stance on Monday this week. As relates to mr. trump and I just wanna do EP you know I know we took a lot of heat over that and it's hard to stand up on your principles of time and but he did it and I I I think more of you. For having done thank you. Bank given. I I have to ask you a hard question and I know this you know on and not try to throw curve ball Larry that. Hillary Clinton wins the White House and she's dealing with a Republican congress. And a divided senate that looks like it's going to be pretty close one way or the other. With our economy look like going forward. Well I have bit into our players at an area. Our current speaker Paul Ryan and president Hillary Clinton. So I don't know you know how that works out. A lot of different diet you spent around. Rory going to be a left wing Hillary which is probably by instinct right now or my artillery you know worked and we evolves. Quote unquote deals with Paul Ryan. And they're probably than that that I don't know the answers to that yeah there's a school of thought that argues. There might be able repatriation. Deal broke probably US catch overseas. And return for infrastructure. At that sort of wanted to rumors coming out of Washington DR I can't yes wait too Roy that good that's good. What she wants to do an infrastructure deal as does mr. trump right. I don't know well yes you broke the question is if you do in the Paul Ryan which is. Going to be able to opt for a company that has just Athens destruction yeah. And I just built I don't know I sergeant billion dollars over six years. So you know being there just. Spinning scenarios that could have a corporate tax reform at at really without outlawed. Can do they want to reignite the economy obviously you know she's done earlier program that you're gonna have clashes there. I don't know but I think that perhaps. You know Bob cut for the Washington Post good reporter wrote that people yesterday were looking yet Ryan and Clint and their going to be good to leaders. But then again we've still got three week plus ago on tour. Would would she be shifted in trading for rated if Ryan want to tax deal leafy wants repatriation. And you know the man who knew how low does he want corporate taxes down to twenty point 5%. I had a house bill. As 20%. The court and try to describe present for at corpse. Well it would what would he be willing to trade for that it does the what does Hillary want issuance of domestic issues education. You know she she's got to make a deal in the first hundred days. That's a good well that's a good question I mean look Hillary Hillary to run pretty close to a Matt Lewis can't change. She talked basically about infrastructure. Because basically about well he's got some class act as the upper income people she's got a plan intact preparations. Got planned attack capital gains. Has been proposal. That they should draw anti growth measures. And so. Maybe I'm infrastructure spending might be something. I mean if I decide you know riot is a guy who want to stop poverty is subject camp. Type guy. What that our spending on that would be. Taxcut you know it enterprise zone let example. I don't know who would buy it not they're gonna crash over government spending on education and it crashed over school choice. Bigger threat over probably foreign policy. So they're gonna last over the bad in Lebanon and it looked you still out. The remnant that 1213 deal. With put caps on spending. Including military target price or military. So you know you do want fortress about gridlock but I'm just throwing out wild idea. Which did circulate. Last year before the election that was repatriation. Infrastructure but they attempted destruction bill so I don't go. Health care it will Ryan hey you know the because she's been coming after the insurance companies in the drug companies over Hydro costs. Where is Paul Ryan stand. Well look. Riot of premarket guys out he has his own health care plan. Which could put a lot more consumer choice. Into the calculus remain cheap as far as I can understand. She's got a lot to basically bail out obamacare which is that it demands of that spiral right so. I think you should have opposition united out of and that is that the public that. Put firm I have to. The so called risk quarter at reassurance but that was originally allocated. Probably Obama has been men allocating misappropriating. Money. I think he's sponsor summit capital pavement to others to bail out insurance company. Stressed represented a heap of trouble that's why they'll withdraw from the exchanges. Because they can't afford it all the adverse selection you know little deal did not by the these obamacare it feels the way they are or the way the Obama. So there has probably again that they can Asia about. Broader appeal about yet like get rid of it but I'm not but it will be a huge debate about that major. You will it's going to be an inch sting a hundred days in early getting to. I don't know live February march right these are conversations that are going to be starting in January. She's gonna wanna roll out something in the first hundred days. I may change that it. Yet this election it. Is actually win an acknowledged as the lead out whatever by that point. Certainly don't mandate and a mandate for why it is that he just being part of this story so I don't know. I look forward and significant conflict or. And look at it this way Larry your ratings are gonna go up in jail in. Their right all right Larry thank you very much for joining us. Larry Kudlow CNBC and Turkey what do you do when you look at the house races yet I've been reading things that I thought the house to securely in the hands. Of the Republicans. I'm I'm accepting the fact that it's gonna be Hillary Clinton as president. But it does she control how. I don't think so. I think job based on what I have seen to this point. I think it's probably about an eighty to 85% chance that Republicans retain control of the house right now there's still is a chance depending on how things shake out in the next few weeks but. I think you're likely to see the house still end up. In Republican hands which to be honest. I'm a fan of gridlock in in Washington that's that bit the way that our system was designed was so that nothing can happen to quickly. In gridlock is the best with you can answer that it's it's not checks on our us but that. That's other systems drawn up it's not drawn up to have one group in power all the time how about the senate beauty is it's all gonna boil down to subtly imply Kelly Ayotte in Maggie Hassan that area hasn't raised is where I think a lot can be decided it is pretty much a toss up in the senate right now and that could be the deciding race right there a New Hampshire the polling I've looked at though a yacht seemed happily. Ed does have a lead up there at the moment it is at this point the most recent one that I've seen. There was actually pulled it came out from WBUR they had the many statistical tie. That came out yesterday and so all I did OK it is that that came out yesterday it was a WBUR poll up there there was previously last week UMass wool pulled it came out that had a a couple points. But that race has tightened up in the last few weeks as well. They want to thank you all for tuning in to this hour of the financial exchange chuck is not a Tucker Silva and very Armstrong all from our insurer match dot com studios. The 2016 presidential race has been volatile emotional and completely unpredictable but one thing is for certain on November 9 we'll have a new president elect and whoever wins investors should be prepare for market fluctuations hi this is very are strong and I'm not here to tell you who to vote for what I'm here to tell you is that my team and I have put together a guide to can help you evaluate your financial strategies regardless of who wins call today 803934001. Request your free guide how a Clinton or trump victory would impact the market and ask about our free one hour review of your current investment portfolio take advantage of this free guide and our free review of your investment strategy before a new president is elected call today 803934001. That's 803934001. Or download the guide from our website financial exchange showed dot com. Securities offered to securities America incorporated member and SIPC advisory services are with the securities America companies incorporated Armstrong advisory group the securities America companies are not affiliated. 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Law firm Cushing and Dolan and we're talking about the basics of estate planning. Todd I've heard that if you don't have a trusted place and merit couple worth two million dollars. Could end up gifting 100000. Dollars to the Commonwealth of Massachusetts. Is that possibly true. Not only is it possibly true I think it's fun. It's a fact I mean an end basically that the reason that is folks as. Because you have a million dollar exemption here in Massachusetts. And that means that I can leave a million to someone other than a spouse and my spouse can leave a million to someone other spouse and there's no tax. But when you have that simple will in place that leaves everything to my spouse when I'm sure you think you don't have anything else to do well. I die I pay no taxes my wife pays no taxes but my wife now has. Two million dollars an example right so she's got everything that we had together. Well when she guises and two million bigger than one million. Her exemption as one million. My exemption is lost is wasted so now that two million dollars is gonna be taxed and in Massachusetts they tax you on the whole ball. Not just the amount over. And attacks on the whole boat and two million dollars in Massachusetts is. A hundred brands such a voluntary tax like you say you're making a gift to the comment you put together that trust whether they be re probable folks or irrevocable if you want to add nursing home protection at the same time. These trusts will shelter. The million dollars purse by house. Thereby eliminating. Your state tax or your gift to Massachusetts that's an example of what is covered in this month's guide it's called back to the basics 8668485699. Has created by Todd what's key in Cushing and dole and 8668485699. Call now and get your free guide back to the basics. 8668485699. 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You're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about economic and market entrants plus breaking business news every day. And now the financial exchange we've Barry Armstrong and she so. You know it's all a matter of perspective and eight years ago I was sitting in this very studio. Talking about how the stock market was declining on any given day 700 points 400 points to 800 points. And today peck the Dow is up a hundred points don't look a gift horse in the mouth cyber buddy Kerry and chuck with you. On a Friday in October which is a notoriously bad month and yet we have a 115 point round. 115 point rally coming on the back of 88 sell off yesterday that was. Tennis stemmed around mid day actually it's interesting to look at just the juxtaposition of these two days yesterday. Pretty much everything in the S&P selling off aside from utility stocks suggesting is significant flight to safety today. Everything up except for utility stocks so I'm sitting around going what changed overnight. What changed you can get it and look we got to bank earnings and and I think that. 88 date I was the I'm gonna put it out there right now. I was impressed by the bank earnings IV because loan business loans are down a gallon and and I said to myself oh boy if the banks lose the business customer. Then were real focus no investment banking activities banks because that's a big chunk of their profits IB. It is and and so. You know this this market in the last couple days now you can sit near India yesterday it seemed like at the beginning of the day especially you know we are down 200 points at one point at the start of Thursday. And I was kind of looking at is saying bad no it if finish pretty much the Dow was down I think forty points or somewhere like that so I'm sitting there and I'm going. Look what you know whats the cause for this flight to safety because it wasn't a panic but it was a a pretty orderly move to the edge in the morning and then everything turned around and then today. Via we've got everything moving up in the right direction you've got. You know pretty much everything pointing in a good spot right now aside from utilities so it's. I don't know two days where a lot happened but nothing happened. You know the problem with the sell off. In and we saw this earlier this year in January and February when stocks sold off a lot they were down gash in new depending what sector you're talking about eleven to 15%. But I think what happens chuck is. A trader sells a stock he's sitting in cash and he realizes oh I'm in cash in on making minus 2% on my money why you making minus two. Well inflation front and a 2% so every day sitting cash you'll lose money. And I think what happens is they sell off at least this is my observation over the last several years you have to sell off. And then people get nervous about sitting on cash they're more afraid to sit on cash. The in the artists and on stocks. And as a consequence you're seeing stock. Rallies like we have seen an awful long time I did see oil trading at fifty dollars per barrel not much news there. Gold trading at 1255 and now silver at 1745 while Euro at 110. Ten year treasury wants any six British pound 121 of the British pound that. Continuing to pound fall at this point I mean. It's not long so this is all I hate to interrupt you but I'm I'm sorry going back to the Euro. And the pound doesn't that put a floor or does that put a cap on how high yelling can raise rates not really. How about let's talk about this I disagree I think that yellen is Janet Yellen speaking. Is greatly limited on how much he can raise interest rates because I think if she let's say just for example purposes she goes once this year. And twice next year and what impact does that have on the US dollar relative to the Euro in the past got to make it strong. Makes dollar stronger what does it do to our manufacturing manufacturing is not the major driver of the US economy. No but it's still a major contributor what is manufacturing GDP bet 1718%. Somewhere in that ballpark lot of jobs struck. It it's a lot of job but her job is to steer the entire US economy not manufacturing sector if for jobless here manufacturing sector you'd have negative 10% rates today but yet again. It's not to say that it's not going to have an impact but. That I get has more of an impact the new in talk and guys it. Had I I. And B I I really believe. Which he is limited on rate hikes by strength of the US dollar. I think the more limiting factors is the overall strength of the US economy it's not to say that the dollar doesn't play and the dollar is is kind of a symptom not it's not a cause necessarily it's kind of a symptom of what you're seeing elsewhere candles that if you have been dogged so strong that manufactures layoff a couple of 100000 workers does she pay attention that. I'm sure she does but if it's also strong because the rest the economy's booming than what you gonna do are you like it and I think we're a long way from the rest. Economy which is what I think is the bigger issue is that the that the rest the economy is strong enough. It of war at more than one or two like. There ocular shares. Rise after alliance with re generally you know I've read this headline in the instead of a gun ten minutes ago I took a look at the stock and stock back via. Say they announce a big deal yesterday stock goes up like a son of a gun. And then today it's given it all back. Yet it it's kind of interesting to watch as the stock on Wednesday. Was trading somewhere around six dollars and 35 cents and it spiked up in early trading yesterday to over eight almost eight dollars. And then today were right back down to pretty much were started two days ago so these two companies. Are going to collaborate and so much treatment for a Mac you are degeneration. And you know again it's it's. Give a deal that I think probably has some benefits for ocular in terms of small pump some additional distribution self worth ocular is only 200 million dollar company regeneron forty billion dollar powerhouse. So. It potentially has some legs behind but I think people are also waking up in realizing. It's not gonna happen overnight. He we're we're getting some stats it as it relates to hurricane Matthew and and we didn't really get hit by it appear in New England did a little rain a little walk wind. But you go down into the Carolinas where your folks are you would be here not here folks here there and hearing landed in Raleigh so they probably have guess they just got rain. Yeah they're they're further in when they can get anything too bad but ultimately I think there's up to I think it's close to twenty deaths now in coastal Carolina I don't know it's more than that I hired I think. I read checked that we did Tucker do a fact check I think it's 38 economists say. 38 deaths in coastal Carolina that and that's just North Carolina as I understand but the Mathieu hit. And it's it they're they're starting to count up how much damage it has been done there to six billion dollars. Yeah a lot of the cause there estimating that about 90% of those claims are going to be due to wind damage than 10% related to the storm surge and flooding. I'm surprised the storm surge damage is higher and the flooding. A team that Ethel rose to 22 in North Carolina 2222. Immediately did you have deaths in Florida or Georgia South Carolina I'll just hours needed distance what do we hit Haiti was and like a meteor over a thousand at this point. Now have you seen like the homes that are in Haiti. It's pretty much an outside restroom I just like I know what because as awful Florida was nine deaths. For him. But he did big number is six billion dollar for the damage kind of wonder what that does to your Allstate state farm all those insurance companies were Finnegan and yet lacked yet they're gonna get hit hard on this it's been a little while mean the last time they had a major claim I think was probably sandy right now in what was that. Eleven or twelve I can't remember what year that they are reserved for this in any near their prepare for this they know what's gonna happen every few years there the Indian it. But it still has an impact I think if you are treatment. Hefty edge there's probably not work here in New England but it's a year and a slow part kinetic it up. Get your truck and drive to North Carolina I don't care whether he can swing a hammer your electrician plumber. They need it there's a lot of work done their due and you can probably name your price. Lot of work to do down there and it's it's it's I can be work that goes away. And one or two weeks I mean this is going to be in a lot of cases a six months to a year rebuilding process for a lot of these communities that are trying to. You know get everything back together now. It is. Dow's up 99 points oil's trading at fifty dollars and 29 cents you if you're retired and on Social Security you're getting a raids on January 1. When we come back I'll tell you how much Marreese that's going to be don't hold your breath does not a lot of money that's next from our insurer match dot com studios. Battering and chuck. Alex. This is the financial exchange radio network the election is almost upon us and regardless of who wins it is certainly possible that we'll see an effect on the market hi this is very Armstrong and I'll be holding a free financial seminar on Wednesday November 16 at Wingate residences in Needham Massachusetts where all explain what changes may be coming to the economy and how they might affect your financial strategy space is limited so reserve your spot today by calling 803934001. That's 803934001. No presidential election in recent history has been as volatile as this one join me for this free financial seminar at Wingate residences in Needham mass and let me help you understand how we trump wind or a Clinton win may affect your portfolio called today because space is limited 803934001. That's 803934001. Securities are richer securities America incorporated member can SIPC advisory services offered for securities America companies incorporated Armstrong advisory group in the securities America companies are not affiliated. Advanced to stay claiming has many benefits including avoiding probate passing your assets along to your bloodline divorce proofing your kids' inheritance estate tax reduction and possibly eliminating estate tax each week Todd lets you know partner with the law firm of -- -- dole and educates our listeners by telling them how to protect their assets from the high cost of nursing homes and this month he's offering a brand new guide called back to the basics to help you avoid this very important factor call 8668485699. To get your guide today don't put added financial strain on your spouse appear she has to go to a nursing home call now for your free copy of back to the basics and 8668485699. You can also downloaded by logging onto our website at legal exchange showed dot com the law firm of -- in Dolan has been helping families protect their assets for more than thirty years let them help your family 8668485699. 8668485699. Or visit legally exchange showed dot com. The summer is over. -- the kids are back in school and raring to go in this is a perfect time to -- check your schedule in its priorities it's amazing how much you can accomplish by taking a few minutes to look at the big picture and part of that for me was reviewing my insurance plants by the Jason Walsh chief marketing officer of the financial exchange radio network in if -- like me and needed to reset on your insurance policies I want you to call the insurer matching agency one call provided me with multiple quotes from several of the top insurance carriers I wound up with a revised homeowner's policy and a brand new auto policy that included coverage of a third car -- my older daughter because lord knows she doesn't wanna wait around to borrow Marc Collins -- match today at 844 and 99 matched that eat for four or 99 match and through their Massachusetts division in charter let them researching present you with information that is bound to help you are saved over a thousand dollars a year in my new deal and I know they'll try to do the same for you call today at 84499. Match or visit them online at insure a match dot com. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917900. Workers at leader bank dot com. Member FDIC equal housing lender and the lowest number 449250. Subject to credit approval leader back a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank their jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by leader bank's local underwriting processing teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Minarets PSE equal housing lender stimulus number 449250. Subject to credit approval leader bank a step ahead. Stay on top of breaking financial news by becoming a member of the club carries brigade mug on the financial exchange does come in sign up today. This segment of the financial exchanges brought device he wrecked if your landlord take advantage of zero. They fully automatic online rape collection tool. That is free from landlords and tenants. Sign up an average checks deposited directly into your account call 8776917. B 900 today or visit Z rent dot net. Social Security now I don't mean to tease in an am going to be accused of Social Security we think is gonna go put up to get the official announcement. Until next Tuesday so the government will release the data on Tuesday but we've done our own calculations in conjunction. With the Wall Street Journal. In we think everybody's gonna get a raise of about two bucks. It's not going to be an awful. It's gonna be a very small amount remember that this year there was no cost of living increase well. Yeah I get a little bit more next year but the projection right now is between point two and. Point 5%. In I think talking about us Steve Richardson force would you welcome for either Tuesday or Wednesday forced next week that. I think shock people when they get that race it's going to be completely absorbed by their Medicare per it I don't know generally I don't think they're gonna. In and what's it and I'm not trying to have a pity party here for you but I mean the average Social Security trickiest Amish that is taking yes Tucker you worked all your life you're retired. And you live and on Social Security. How much do you think the average Social Security recipient across the country receives enough when he went 12100 bucks and up 12100 bucks try to live and on twelve. Underdogs in that typically represents anywhere for the average person between sixty and 80% of what their living on in retirement well it may truck and there are about 40% of our population that's all the yeah that's all have some security all they get so it's you know. Again not likely to really get any raise once the additional cost of Medicare for the next year and is factored in here so. It continues to be situation and historically the cost of living okay if the cost of living increase for Social Security you go back. Through the ninety's and early two thousands in generally you're gonna get somewhere between you know one point eight and 3% somewhere in that ballpark is what you would get. Well let me give you the numbers for the I've got to go on back to thirteen in 2013. You got a one point 7% rate young war. 20141. Point 5% another big war. And then 20151. Point 7% 2016. Point 2% I mean you've got seniors. Why is the you know I I don't know what to say a eight you know I don't write the rules I'd just reporting the information. But I'll tell you what seniors are not happy snow cave in and especially if it's a major component of their income that's why you see a taillight. Do you wanna have some fun tonight yeah I got it that's something you guys to do. And change yeah I look fun. Only go to Wal-Mart. While around Wal-Mart on a Friday. So I know I know no doubt if auto deal you'd go to Wal-Mart. On tonight. It's it's aux and and walk around my parents don't know an hour and and do pull with the workers. And you'll see a lot of senior citizens working at Wal-Mart on Friday night. Because they're happy to take the shift. And ask them how old you you know they'll love that no I don't mind if I I do this all under the you've you've done. If you would be if you don't talk to any human beings quarter and asked people Wal-Mart how old they are first of all I go to Wal-Mart and referred. It's unique it's like the tablets happened it's happened. They don't go to the tender go to Wal-Mart and walk around and just days after April with her they're happy to the music that you look great. He mine are due to poll. Do you mind Tellme held to and you find out you feel like you'll see people working tonight at Wal-Mart is and he gets it and it's already in their seventies and eighties. While I broke my parents and so yeah. Something to do it's what did you do before dinner after it and brought both regular credit and we go to different outlook it's double feature. Exciting it is truly an appeals shirtless. A minute you do the bull crap button. I don't know maybe. Inaudible but can you guess one act. It was yet kicked vote people try to predict the weather. You know I it's you know the government that cover up from the government not here to help people and economists of the air now. Government analysts who have sifted through forecasts for colder winter and slightly higher energy prices. Activate notes would be colder winter. Oh crap but I think. I you know mentally right you you work with a Margaret and I do have a news. And when they were just talking now because I've read don't get ready to go one and do business segment. But those hanging out maps weather because that. Would work. And I was ask him to accuracy on weather predictions. We're pretty good you know at three days were pretty good eats a you know from 99%. Ten days hours opened around 75 and twenty days movement began sixty. And then he said anything beyond thirty days buried. We're a 5050 it's. It he's a trained perfect oh yeah meteorologist. Right. And and predict there. But the government can't. Yes and they are saying that it is likely to be eight Holdren the average winter particular in the northeast. And you are likely to see. Higher cost for fuels and due to that just because last year with the being very mild winter you saw significant buildup in inventories UNC any draw down for months or months. This year they're saying could be different I tend to stick with you look anything longer than about two to three days I really listen to. But natural gas they're saying news is it gonna cost you. Maybe what 22% more to share yeah and I guess by the way continuing to move up this has been something interesting to watch Nat gas Nat gas prices right now. You know oil pulled back a little bit Nat gas continues to rise them. Big reason for that a lot of the drilling that still going on movies in places that aren't doing it via fracking so you don't have the extra Nat gas that's being produced so. It's you may see how if you are a gas customer and I'm one of them. Likely gonna see higher prices this year. Only 5% I found this statistic to be shocking. Only 5% Tucker of American homes use heating oil. I've always easy maybe I can never had a knack gas 14 of the homes in the northeast you Tivo. Keep in mind there's an awful lot of people that don't have any home heating system because they love the place warm enough where they don't need one. It the only you're down in Florida my folks live they live in Arizona and Alan you know like for you sure can elect as he gets cold night. Go to Arizona it goes down into the thirties into the twenties is that a lot of people like Florida in the Carolinas they just bringing likes of space heaters if they need him or something like that at all their days a year that they they need something. Electricity prices are people heat their home with electricity a feel sorry for if you do because appear in the northeast got to be real that's that's ridiculous propane is going to be less expensive this year. Yeah appropriate price is gonna be down a little bit but still yet a little bit lower than before I do find it interesting that only 14 of the homes in the northeast at home heating oil I did I thought that would be somewhere at 5060%. You know that would in wood pellets heat. Two and a half million homes in the in the country 15 of roll hall households in New England now. He's heated I love the smell. You know you go yeah opted you know yeah Arrigo Armonk and you just it's it's always there it's always there in the background it's like a different kind of warmed I don't know why but it feels warmer. To dry heat and pressure straight to the dry heat would we have the time here OK you stood trivia question. Let's see we are doing trivia based on Margaret Thatcher today. Which British political party did Margaret Thatcher belong to 68680. Is our tech's number. First listener with a correct answer wins the 25 dollar gas card. And the question is which British political party did Margaret Thatcher belong to. Don't forget that. Armstrong advisory group is offering free portfolio reviews at 88 G. We're ready to help you pursue your financial goals so call us toll free 80393. 4001. The cheap airfare party is about and and as I've come alike and cheapest. Yeah you've got reduce competition you've got rising fuel costs again. You've got airlines that are really streamlining. Their own routes and cutting planes if at all possible. All means you get up and fewer seats more crowded planes higher prices. This is gonna buck a trend that we've seen over the last couple years we've actually seen. Declining costs for airlines over the last couple years looks like those prices are gonna start rising again probably as soon as the first or second quarter next year. You know we haven't seen. And we we used to see this back in the seventy's and eighty's and ninety's. Was a low cost carrier come onto the market drops a new one teacher Angela yeah I read it back if we have peoples express and then really southwest was a low cost provider to our. They now they've brought it boils down oh yeah absolutely for a southwest still very much it will cost care I never find them. They used the a's take I always find that I can get a better deal on America under. I used to fly a lot out of Providence actually you know I call it a couple times and I did a lot of that. What I've kind of soured on is the way to do seating where you don't have assigned seat until you show up and you have to check in in all it. I'm just kind of soured on that I guess my old age have just moved away from because I think he turns thirty easel. No longer accepting of middle seat. I just won't do. I just I can't do it anymore so I always have my Fiat in the middle Seton I get a wintour and I'll Marie. Dow's up a 108 points the S&P is up seven NASDAQ up nineteen points oil just trade right around fifty dollars a barrel be curious to see if it goes below fifty dollars a barrel. When we come back we're talking about OJ. That's next from our insurer match dot com cities. You've got Barry Armstrong. Financial exchange on the financial exchange radio network. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making music faster closing call 8776917. To 900 that's 8776917900. Or visit leader bank dot com. Member FDIC equal housing lender and lowest number 449250. Subject credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank their jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by your bank's local underwriting processing teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member of the NC equal housing lender and Miller is number 449250. Subjective credit approval leader bank a step ahead. Hi everybody very Armstrong here from the financial exchange and I'm joined by. At leader bank. SBA loans. What they've been around for awhile but not everybody takes advantage of them and very few people know how they work. Thanks very yes we we to a lot of small business lending its leader bank. We're preferred SBA lender which really means we can maker decisions in house do you quickly within a couple weeks good. So we've been very active because a lot of small businesses have been growing in this economy so for example we have a special right now. Which is small business loans up to 50000 dollars were offering a fixed rate of three point 99%. Fixed for four years and no closing cost. It's been a very popular product but more importantly we're really helping small businesses who need to grow and expand their business. There's a lot of uses for the small business loans I give you a couple of examples. So recently helped the restaurant in Cambridge that was doing so well they actually need to expand in the space next door. We help them local law firm. Who needed a line of credit to help expand its business sure we helped a young local trucking company by a couple of new trucks. Because they are expanding could so there's a lot of different use says there's there's really no limitations on and is longs for a good corporate use but it's 50000 dollars you pay it back over four years it's an interest rate is three point 99%. Exactly. With no closing costs that's a pretty attractive program and it's our way to Kenny work with the local community and build small business relationships. Very good folks that's. SBA loans called them all free 8776917900. Three point 99% to pay it back over four years. 8776917. To 900. Toll free 8776917900. Or check them out online at leader bank dot com. Advanced state claiming has many benefits including avoiding probate passing your assets along to your bloodline divorced proofing your kids' inheritance estate tax reduction and possibly eliminating estate tax each week Todd lets you know partner with the law firm of -- in dole and educates our listeners by telling them how to protect their assets from the high cost of nursing homes and this month is suffering a brand new guide called back to the basics to help you avoid this very important factor call 8668485699. To get your guide today don't put added financial strain on your spouse if he or she ST go to a nursing home call now for your free copy of back to the basics and 8668485699. You can also downloaded by logging onto our website at legal exchange showed dot com the law firm of -- in Dolan has been helping families protect their -- were more than thirty years let them help your family 8668485699. 8668485699. Or visit legally exchange showed dot com. This summer is still. -- the kids are back in school and raring to go in this is a perfect time to reset your schedule in its priorities it's amazing how much you can accomplish by taking a few minutes to look at the big picture and part of that for me was reviewing my insurance -- hi this is Jason Walsh chief marketing officer of the financial exchange radio network if you're like me -- needed to reset on your insurance policies I want you to call the insurer -- agency one call provided me with multiple quotes from several of the top insurance carriers I wound up with a revised homeowner's policy in a brand new auto policy that included coverage of a third car for my older daughter because lord knows she doesn't wanna wait around to borrow -- -- -- -- match today at 844 or 99 match that's eat for four and 99 match and through their Massachusetts division in charter let them researching present you with information that is -- to help you I saved over a thousand dollars a year in my new deal and I know they'll try to do the same for you call today at 84499. Match or visit them online at insure a match dot com. It's the financial exchange at your fingertips as well. Thanks X 86 AB it's the financial exchange on the financial exchange radio network it. Margaret Thatcher was a member of the Conservative. Party a group which is commonly referred to as the Horry. He had from uptown New Hampshire had the correct answer and you that is taking home eight point five dollar gas card. To shell don't forget about Armstrong advisory group's offer of a free portfolio review. But AJG help you pursue your financial goals cult today. Toll free 800. 393. 4001. That's 803934001. And set appear appointment today. Armstrong advisory group in the securities American companies are unaffiliated. American consumption of Orange Hughes has been plunging in recent years as awareness grows. Over the scant nutritional value of the drink. My guess is loaded with sugar Oreo planet or drank it I knew from an early age who argue that no and I just never liked it. I like the urge to use lots of pulp by drink a lot of heart problems don't they just had shorter. Yeah a lot of it has sugar addict religious Steven oranges that are tough for church look at your five Arab blood orange shoes and it seems like they're hating charter that which is not healthy well here's the deal but twelve ounce glass of Orange shoes you know contains a 153 calories what's 34 grams of carbohydrate Wu yeah it's when he says hold -- this. 27 Graham's future that's a watcher that's like soda. Yeah that's what they said almost be what people figured out is having a glass of Orange juice is a cabinet canticle for almost as much sugar is a bag of Eminem's. That's a lot. It's not a small amount Achille orange juice industry frozen orange juice has experienced the biggest drop in sales dropped. Falling 39%. To ninety million dollars just since 2012 got it tough for. Orange farmers or trees you know Jill its its got to be really tough for them because you know in a lot of cases those are old businesses that have been passed down through families and I got the numbers Florida once had more than four dozen. Processing plants that down to seven. Real. 4000 to seven non sure part of it has become you know because they more efficiencies in one answer but he went from. You know caught fifty down the sense that you mostly. 85%. Of the number of plants there's not a small decline so obviously been difficult for the the orange growing industry and I don't know I mean Tucker do you drink orange juice. I rarely do I used to quite a bit my fears that might yes entries or or Jews every day and I yell or holiday honoring unity I heard it argued that there you're better than just to yell at you for sucks for Starbucks. Bill does that register coffee is good wages if healthy he doesn't tell still in the that I'm just a regular black coffee yours but that's what you need to go to Starbucks for. Because I like their coffee yeah. I understand call. Urgently critical topic triggers of the only people I know that you know your beer drinker you drink okay this beard that beer if you're mediator I ate this meat I eat that meat coffee drinkers I needs Starbucks are gonna die off now anyway what the room the taste of that but why just blindly say it with beer extra dollar you know drinks to the white beard no surer via political protesters wanted to hear I don't like Miller Lite Patrick blood but during a whole lot of other stuff and so. Why is coffee the one thing where people refuse any flexibility because it's. What gets people's day going at all but about an emergency announcement outside the US has eased restrictions on Cuban imports. Cigars cigars baby we're back. I we get our yards I have to sneak them in from Canada anymore. Not that I ever did that not that are they have radar Annan I don't know donors but if he. It is got to be a major story. It is that everybody be writing about it tomorrow be heard here first. We easing money in our imports is ours are back it's that this is big news this has done is really big and going to be able to build up my cigar bar him. I'm I'm ready. The quick announcement on behalf of Cushing in Dolan. You know the there's something should be aware if you live in New England with the exception. Of New Hampshire. And you are worth some money talking about couple million dollars if you don't create trusts. You are going to basically make a gift to the state in which you resign whether it's Rhode Island. Commit Connecticut Vermont Maine or Massachusetts. They all have the estate tax at the state level and it's a very high rate of the state tax. Simply by creating two trusts you can either eliminate that state tax or wipe it out altogether and this is for families that are worth more than a million dollars. If you are worth more than a million dollars I want you to call Cushing and dole and get their free guide it's called back to the basics in new tee to all about this. You have a ton but the fundamental on the talking about the type of the state plans that that the rockefellers. I'm talking about that kind of the state plan that the guy next Doherty. Does well this'll help be the poll numbers told free. 86684856998668485699. Call Cushing and old. And get their guide back to the basics because if you're worth more than a million dollars in you don't have a formal state plan you're going to be paying. A voluntary. State tax. To the states in which he resides with the exception of New Hampshire. Maine Vermont Rhode Island Connecticut and Massachusetts the worst of them all action mature they are the worst but the Connecticut anyway. Call get to guide the phone number is toll free 8668485699. Amazon yet in some hot water for firing dozens. Of their drivers and if people are claiming that they need these terminations illegally. Yeah this is interesting aged civil rights group is accusing Amazon of using criminal background checks as the sole reason. For firing a number of odd drivers dozens of them. As you said here the advocacy group is claiming. That a Boston area delivery contractor. Dismissed between 3040 drivers as a result of those background checks even though a lot of those drivers only had minor offenses in the distant past. Wow that's all up to you know interpretation but I think the bigger problem here is. Amazon. Where is letting he didn't screen the drivers when they hired him in the first place. I think I what you're gonna learn here chuck is that Amazon was relaxed in their hiring process here and now it's bite him in the rear end. It could be immunized I don't know again it's still very early in this that we don't know what kinds of things people were dismissed workers in case where. You know they had you know outstanding things from 1520 years ago when I don't know if that's a reason to deny someone a job today depending on what it is. Of the here's here's where Amazon stepping in and it's not gonna be the advocate for Amazon let's say you were arrested for assault twenty years ago yeah up. And now you're delivering packages in your on somebody's doorstep or your in an apartment building Amazon's saying we don't want to Wear an hour we've we don't you what you drive and our truck. If that's the case. And and you know it. If there was twenty years ago I mean it's it's something that. I'm a believer in second chances in terms of what you pay your dues to society and you've you know whether it's community service jail time whatever it is him. You do then society says you can go to work if you short track record over that twenty years that you can do that. OK but if a situation where rookie every three years or five years you've got an issue that keeps cropping up. OK I understand where Amazon's coming from them so I think it'll have to depend on the severity and so forth but it is a legal battle that they're gonna have to deal with now and I do agree with you. That probably didn't do the screen up I think she noticed I think that's what happened I think that's a big huge. Had a bet you dollars to donuts is that's what they discovered later on. More than one million in obamacare. Are going to lose their plans as insurers are quitting. He here's how bad Obama cares unity we we don't talk about a very often but we probably should. It's so bad that he assurance companies are saying hey we can't make any money on this in our stockholders are insisting that we stop issuing these policies. One point four million people in 32 states are gonna lose the plan they have today. Largely because as you mentioned. Three a couple companies Aetna and united health as well some smaller insurers. I those stock obfuscating the inning the fact of the matter is beat those companies in my estimation are acting responsibly you know that's what company will do corporation. You know they're not like the government does not like the state of the municipality if they're losing money on something they address. One lady at the either raise their prices obamacare won't let them raise their prices so they're sand screw were out of this business. Yeah and this could affect the overall enrollment in it obamacare plans just because if you have less choices and less you know availability for people. You may end up actually seeing a decline in enrollment numbers for the first time since plans were announced a few years ago. Did all the bad stuff with a obamacare. Really kicks in next year yet. The tax penalties get tax penalties or bad issue with DC next year's tax penalties if you don't have insurance you're you're paying a very hefty. Tax penalty on on a new federal return. Yeah believe it's not in 2016 the he is up to 2000 dollars per family that doesn't have it. Next year it continues to go up I believe next year we're getting up and that 25 to 2800 dollar range. Depending on yup we get up in that range. If you. Do not have coverage TI think yeah that'll be that'll be something that's a bargaining chip next next year. Between Paul Ryan and Hillary Clinton you do I I I she wants to retool it she knows it's broken anybody with half a brain. Knows that obamacare is there's a lot of problems with it. And she doesn't want that. As her legacy he she wants to fix that they should go to Paul Ryan it's a rework a deal on some kind of tax repatriation and lowering corporate income taxes. In exchange for let's fix it up picks up obamacare. There is right now I mean it is getting towards that death spiral type of what it means that bad if it's in that ballpark and what this is what happens when you increase the demand for product but don't increase the supply what's gonna happen. Costs are gonna get crazy people are gonna get priced out of the market it's exactly what we're seen. All right up next will be joined by Paul La Monica from CNN money were talking Tesla. When we return to the financial exchange from our insurer match dot com studios. The election 2016. And we'll have an impact on the economy and find out how right here in the financial exchange on the financial exchange radio network. Advanced to stay claiming has many benefits including avoiding -- passing your assets along to your bloodline divorce proofing your kids' inheritance estate tax reduction and possibly eliminating estate tax each week Todd lets you know partner with the law firm of crescendo and educates our listeners by telling them how to protect their assets from the high cost of nursing homes and this month he's suffering a brand new guide called back to the basics to help you avoid this very important factor call 8668485699. To get your guide today don't put added financial strain on your spouse if he or she ST go to a nursing home call now for your free copy of back to the basics at 8668485699. You can also downloaded by logging onto our website at legal exchange showed dot com the law firm of -- -- Dolan has been helping families protect their assets for more than thirty years let them help your family 8668485699. That's 8668485699. Or visit legally exchange showed dot com. If you're like me I'm sure you've been following the presidential race it's been unlike any we have seen in recent memory and regardless of who wins it's very important for you to take a look at your investments so he can be prepared for any changes that may come to the market hi this is very Armstrong and I've put together a brand new guide titled how he Clinton or trump victory would impact the market call for your free copy at 803934001. That's 803934001. Or you can download it from our website financial exchange showed dot com don't wait until the election is over to evaluate your current investment strategy call today get the guide and take advantage of our free one hour portfolio review the election is coming and that may mean more market instability call for your guy today at 803934001. Or download it from our website financial exchange showed dot com. Securities offered through securities America incorporated member in SIPC and advisory services offered for securities American companies incorporated Armstrong advisory group in the securities America companies are not affiliated. The summer is over the kids are back in school and raring to go in this is a perfect time to reset your schedule in its priorities it's amazing how much you can accomplish by taking a few minutes to look at the big picture and part of that for me was reviewing my insurance plants by -- Jason Walsh chief marketing officer of the financial exchange radio network in if you like me and needed to reset on your insurance policies I want you to call the insurer -- agency one call provided me with multiple quotes from several of the top insurance carriers I wound up with a revised homeowner's policy and a brand new auto policy that included coverage of a third car from my older daughter because lord knows she doesn't wanna wait around to -- Marc Collins -- match today at 844 and 99 match -- eat for four and 99 match and through their Massachusetts division in charter let -- research and present you with -- information that is bound to help -- I saved over -- thousand dollars a year in my new deal and I know they'll try to do the same for you call today at 84499. Match or visit them online -- insure a match dot com it's not. Too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917900. Or visit leader bank dot com. Member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by leader bank's local underwriting processing teams traditional information call 8776917900. That's 8776917900. Were busy it leader bank dot com. Minarets PSE equal housing lender and MLS number 449250. Subjective credit approval leader bank a step ahead. Security securities America member and PC. Or security advisors. Are on target recruitment securities America companies. Today on the markets all day long. And our brand new website financial exchange showed dot com click the on demand includes I didn't follow the markets from pillar to post poll had financial exchange Joseph Johns come. I'm not saying he should go out by the stock and I'm certainly not suggesting that you go out and buy one of their cars. But I will tell you I've given a lot of cars in my lifetime Mercedes-Benz rolls Royces porsches ferraris haven't owned buildings and cars I've driven. And I drove the Tesla and I will save you man to man checks on a best car I've ever driven bar none. Can't afford one but I love the best car you've ever driven ever ever driven and I've driven. A lot of cars what are your precious people that are very I love my bowl and the Bible but if it was an even trade dollar for dollar I would trade for the test. Problem is talker I'm cheap rate and and I'm. Thrifty ship got a lot of Scottish blood in. Norah and pence a Scots were we we were right with them is Scottish Canadian. You know. Phelps and a lot of character defects all the same day anyway I love I love the car I just I don't know but the stuff. Let's talk with Paul Monica about stock Paul Monica from CNN money joins us now Paul thank you very much for joining us appreciate it. Paul looking at Tesla here is this one that you think obviously didn't kind of stuck in neutral over the course this year you know you've. It and I'm glad he picked up on that one. Refer Friday let's go let's talk about where the stock is going here is this one that you think has the ability to bounce back are they biting off more than they can chew. I think you have to be concerned about the latter means the company still. You there he. You know values extremely hot lap allies some would say yeah you'll maybe ludicrous and he used one of them terms that after the ludicrous vote. It if it does beg the question of eight on mosque two. You appear to PT Barnum in them in terms of being Sheldon but it's also obviously legitimate businessmen. Media starting off load more than he can Chu we see the new roadmap that that has there are a lot of ambitious new products he wants to rollout. But at the same time he's run that little thing called SpaceX effort from test like he's got his hyper and ambitions and oh yeah by the way test was buying. Solar city in unprofitable. Solar panel company that now is brought back to this confidence in addition to the fact that eighty. It's not the best financial daily got cries of nepotism as well. And and let's take a look at Steve and at the longer term at Tesla stock that is where we sit today. Is pretty much the same place that this stock was trading at in September. Of two point thirteen so we're here three years later. In this one of the danger the buying growth oriented stocks in general is that look. The valuation can get so far ahead of itself and even if the company grows by leaps and bounds Tesla has you still may not make money on. Yeah exactly I think the key thing right now is that. Tesla. What is one of the first on the first and obviously a pioneer in the electric car market. There are a lot of other startup companies that have hopeful wayside you know it's hard to make money. In and new business we all know that the problem though protest but is that the only. Arguably helped. Legitimize the market for electric car so much so that every other major auto maker is now you know trying to get there electric cars minority out of on the market needs you have to wonder at the the model three. That has flat going to be coming out the end of next year that's the quarter court affordable tests like technique. There models you know more about job market done type of car there to get beat the punch by the this ship people that GM's got coming out which is also in more affordable. Electric car so I think they're growing concerns and questions about whether or not and attest getting ever be anything more than Marjorie. Niche electric carmaker which you might not be the worst thing in the world and it may not justified his calculation especially when you throw in the source city concerns on top. Anything unique or proprietary. To test of the gives them any protection from competitors. I nothing that IE have been able to easy I mean clearly the there are other electric car companies that. Are coming out with you know action Robert Parker and tomato derelict cars and some of them were claiming that those cars will get more miles to charge. And what we're expecting for the models three so I think when it comes down to it the the number of miles you can drive on a charge and the price. As well as the static design is that's what's really in a differentiate Tesla survive you know so I think it might be you know mystical more happy on that latter part is static design it may not be price and not be. Actual miles per charge. That's the telling point that. One day it's going to be variation see whether or not there are some cool new products we all love when I must come out and indeed be something new and I don't think we're gonna get the wild rumors coming true with their speculation that it could be a bottle and motorcycle or. Such rock or something along those lines mean he admitted in the new product roadmap that. They are looking at. You attract. Actually count the Rose Bowl the consumer want as well something for a meal freight hauling in a mass transit while something that we all know he's Gary very interest that it. Spoke here and on our support. Oh yeah I mean obviously you know talking about Mars I know what was it 2030 he said we get their by. I believe so but then that. He that is something that he is the media aide you know 2030 maybe in overly ambitious goal and musk has pretty been pretty candid in this that it sometimes. Getting in meeting those deadlines is not exactly. Something that he used that stat. The beast to area he. He's putting aggressive targets spurred some things that involve a lot of work. It's technology I don't like him for not being able all the hippies that targets but died in Libya terrible aren't a lot of work because he you know meet those pre press that. You certainly do Paul thanks for joining us enjoy the week and you got a great return Brady back there as first first game at home and it's so the giants to bounce back to haunt I'm not not. The boy can dream right out. Pulled Monica wide Nepal Monica from CNN money talking about Tesla with a ticker TSL. Nate. You know. Volkswagen coming out was electric cars Mercedes engines that you they're gonna make a very good electric car. This is all gonna boil down to one technology to all about battery if you know we can pontificate about you know. The Tesla having a great car they do they tell you I told you when we started this is the best car I've ever driven but it's gonna come down to the battery. Who can make them the least expensively and how long can charge what you get 300 miles he got to give the them 300 miles on a charge. Somebody invents that holy smokes they're gonna sell cars. They wanna thank you for tuning in to the financial exchange with chuck is not a Tucker so was there at the Helm all week my name's Barry Armstrong and we've been broadcasting from our insurer match dot com studio.