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Full Show 1-30-17

Jan 30, 2017|

Full Show 1-30-17 by The Financial Exchange

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This is the financial exchange with the Barry Armstrong and sharks are down. You're exclusive look at business and financial news affecting your day you're simply your world. Stay informed and up today about economic and market trends plus get breaking business news and every day. And now the financial exchange with the Barry Armstrong and chuck side. Corporate leaders around the globe are lining up in opposition to Donald Trump's travel ban. How to I know that love you read the headlines whether it's Goldman Sachs Starbucks you name it Coke Brothers New Year's Day. Every day in corporate America. And globally in leading industrial companies. Are lining up in opposition to the travel ban and as a consequence we have stocks selling off the Dow down 135 points and I'm not sure over we've had a down day of this magnitude chuck since mr. trump. When the election in November. No but I don't think we have and I think it's pretty clearly related. To what we saw over the weekend since the ban was announced on Friday. Just because you look at the data that came out this morning this is. Not anything of any real consequence that would of caused a move like this certainly never corporation myths are and that no idea if it is clearly focusing. On that travel ban and its ramifications on the business side of things and what this is telling you is that hey. There are going to be some significant disruptions in business due to this travel ban which is inconveniencing people. And businesses from being able to hire the way they want to hire. Let's talk about what is exactly is a in the Wall Street Journal put together a nice peace and what does that trump. Executive order do well if prohibits people from seven countries including Iran Iraq Libya Somalia Sudan Syria and Yemen. From entering the United States for ninety days and pauses the admission. Into the United States people granted refugee status for 120. Days. While the trump administration. Revises immigration screening procedures that's. That's exactly what occurred yup now we have to look at the ramifications and try to figure out determine why stocks are selling often with the purpose of the order it. What think the big thing is that this order in the wade is being carried out. Isn't making any any differentiation. Between someone who is not a US citizen and someone who may have a green card or BA lawful permanent US resident you have people who have green cards who have already gone through it if you ever applied for green car very few ever know someone who has applied I have green car I have how easy is the process it's very diligent and then I went through my back in the 1970s yup but it was rigorous then. And I have a son who disagreeing card and its rigorous now and getting your citizenship is a rigorous process and what you're seeing is that people with green cards. From these countries and are not being allowed entry into the US and more importantly also. Ones that are in the US stuck in customs are being denied right to attorneys and things like that. In that is a fundamental breakdown. In terms of civil rights but tell you what the ACLU is making money hand over 23 million dollars over the weekend you know what they normally bring in in a normal year. Three to four million dollars a year a year they did 23 point four million dollars over the weekend from over 350000. Donors are predicted they have over. Under million dollars Friday. Because corporation's Microsoft is set up. Hey if you want to make a donation to the ACLU remember we have a matching gift policy unlimited so. If you say your seniors you remember the the CEO. Of Microsoft is an immigrant. An amateur these Muslim or not such an Adele. Regardless of his religion he is the CEO of Microsoft so you don't outside of the trade they're going to be this. Yeah I mean against Saudi and Adele who runs Microsoft which just last week crossed 500 billion dollars in market cap. Okay was born in India you know not a US citizen and now runs one of the biggest companies on the planet. It's pretty clear where he's going decide Sergey Brin was a refugee camp there Reverend Wright was a refugee. Exactly it there was a long story posts about how was the and we had to travel through Eastern Europe and hide who they were in order to finally get to the US. It is CA Jewish. I don't know I don't know for news but it's you know. Is on the list though FaceBook co-founder FaceBook whose. An immigrant. Pay now Yahoo! eBay I mean you just go down the list. Of these tech companies in many of them are foreign born many of them refugees or immigrants and they are responding in kind the administration is going to be in for one heck of a legal. Well and the other thing is you what this is done as its united some people who normally are not on the same side about things when you have the Coke Brothers and Howard Schultz lining up saying and Dick Cheney saying you're doing this wrong. That tells you that you're doing this wrong and some people said oh this list was available back in you know 2011 and Obama did similar things. Obama did it at one time back in 2011 then put a six month stay. On people coming in from Iraq that's absolutely true the difference is that it was in or is in response to a specific set of circumstances in a specific region in Iraq. And it was also done through a proper vetting process so the procedures were in place of you didn't have these types of issues. With people who were legally allowed into the country I think that probably had now they were prepared for an immigration officials were not prepare for young people sitting in the basements of airport twelve hours thirty now. It's it's the end and what you're seeing here is again the the business community as a whole is telling you look. Microsoft had to come out on Friday and say we anticipate this could affect guidance going forward. I mean that's what Microsoft had to tell you is look this is this is something that could affect guidance because we don't know we're going to be able to hire people. Now if society you know story after story Starbucks you've all heard the story about they're hiring 101000 refugees over the next ten years. Or no next four years five years Google set up for a million dollar emergency fund to fight Donald Trump's immigration plan. Number this was and sixteen story yeah out taxi drivers in New York City. Put together a protest in their protest using the server kneecap the New York City or Boston you get into a cab. Pretty good chance is being driven by four to write it when you get into maneuver car lift car what percentage of reduce their foreign born. 80% in in Newburgh lifts it. Adolescents it may be 6570. You know I would've ever three mine is largely in my experience it I don't traveled to you so let's say it's 50% yup and you. The taxi drivers in New York City said we are not going to service. JFK we're not it'll that are cars could JFK to pick up passengers. Well looper didn't adhere to that so whoever made a lot of money and so over the weekend but then they felt bad because what. It would start it was a social media campaign. To do for people to delete uber because they weren't working with the taxi drivers. Yep pretty much what you saw as that. A bunch of people came out and said look you know we we we would've like to see you stand with these taxi drivers. Ann Cooper apparently continues to get. A lot of. Like crap on social media and so forth because of this even after trying to address things from a post from trans Atlantic the founder on FaceBook trying to say hey we're trying to set up funds to help people who didn't three million bucks yeah and you. This is one area where look I understand why people might be upset here but. I think in the heat of the moment it's very difficult to make those snap decisions especially on a Saturday night as the CEO. I think giving it data say hey we had to get our ducks in a row to figure out what to do. I understand where you know Travis call and it's coming from especially with what he has done afterwards and then another story about air be indeed another tech company. There are offering free housing to people who are being negatively affected by the travel ban because you haven't you. Trinity College sent out a letter some of the students that were planning to come back to Trinity College were not allowed into the country which are they there aren't a lot of social weren't allowed back into the country. I mean I do you have people who have been professors in the United States for multiple years that are being. Told they can't come back in more than sitting in a basement Dartmouth college and my alma mater had to issue a statement on Saturday saying look we have a number of students that are from these countries and we are going to work with viewed at the best possible. To try to figure out how to get you back to school. If you have left the country need to come back so you know this is the thing is. I understand what you're trying to do because I understand the Donald Trump campaigned on trying to make the country safer. But yet you've affected things in a way. Where you're doing it in such a nondescript you're doing it and affecting people who should not be affected your big issues the implementation. Bullock if you say I wanna have stronger procedures in place okay. Put stronger procedures I think we all agree with that but but do it for people who need the stronger procedure someone who has a green card or a beast or is a lawful legal US permanent resident. That is not someone who you put through a thirty hour process if you think doing that when they were ready to me they didn't think through the process they they. Clearly didn't prepare. For the order its beauty is in telling the LP his office didn't tell inauguration there and it's just if it's not right what you have seen there. And unfortunately a lot of people who had no business being caught up in this have been caught up. And it to anyone who says all that it's okay if it prevents any problems. Look if you had a family members that have at this been trapped in an airport for thirty hours not known when they're gonna be released I'd bet you wouldn't be saying the same thing. Well. 68680 but more importantly you can participate in our poll question of the day. Do you favor president trumps traveled. Our aid our web site is financial exchange showed dot com and I know many of view. I know we're talking to I know many of you do favor the travel and I think my big issue with it is the way it's being implemented. I don't think it was carefully thought out. And clearly it's having a negative effect on the markets stock markets selling off at least domestically here in the United States stocks selling off. On this news. Up next we'll be joined by Matthew to board from business insider talk about General Motors they have been on one heck of a run. You know I've thought highly of the company held stock in the company by the wave or talk about. The runway for GM what are they doing how are they looking going forward that's our next topic from our insurer match dot com studios. Breaking business news daily only here. 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 of petted it rates in New England a dedicated loan officer will work with you every step of the way and there are local decision making means a faster closing call 8776917900. That's 8776917900. Workers at liter bank dot com. Member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. 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By the year 20/20 six how quickly would your assets being depleted if -- to write checks to the tune of 141000 dollars every month well it's certainly a deal to develop your asset protection -- in advance life tends to get away if you -- -- are faced with an unexpected -- -- and you haven't done your planning before you write that check pick up the phone and call 8668485699. Get some expert advice from the law -- of -- and -- which has been helping families just like -- protect their assets for more than thirty years they have put together brand new guide for 2017 called -- for procrastinators. You can not put off this call any longer get your free guide today and learn how to protect your assets 8668485699. That's 8668485699. Or download the -- right now from our website legal exchange showed dot com. Hi everybody very Armstrong here from the financial exchange and I'm joined by Jay to Lee who's a senior vice president and leader bank. And leader bank has an exclusive. 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Or you could call leader bank at 8776917900. To learn more 8776917900. Collect your rent electronically makes an awful lot of sense to me the phone number again 8776917900. Or visit. Zero rent dot net. Security suffered through securities America ink members finreg SIPC and advisory services arbiters securities America advisors think carry on from representative Armstrong advisory group in the securities America companies are unaffiliated. On top of breaking financial news by becoming a member club and Harry's brigade plug on the financial exchange dot com and sign up today. Talk about General Motors were joined by Matthew the board. From business insider and they've been on one heck of a run stock not too long it goes trading in the twenties today I think it's trading in that 37 dollar price range. I don't today Matthew. Pretty good result you gotta. Glad to have you. So what talk to us about the shape of the auto industry today. Relative to where was just eight years ago. Almost. That are. The market that is currently entry. The entire US auto industry. A General Motors are going bankrupt. Well we had artwork and say. Or surprised at all. And we only had about and then oh. It's out so that come back to normal and you know. The movement or stock car burst while. It's definitely. Now and the workers are getting paid to you look at the the workers I was looking at the some of the bonuses these guys are going to be a they haven't been formally announced yet but they're gonna get some very healthy bonuses next month. Based on 2016. Production talk to us about the average vehicle on the rolled today how old is it. It historically that bird. Whether it is about eleven and your. There have been a lot of it would probably go Kart out at air. Expectation that could even go so do the article. So do you think we're capable of sustaining seventeen and a half million or seventeen million auto sales going forward. I mean you ideally you'd like to see growth in the number of vehicles being sold. One could question asked as to whether or not that's sustainable. Well I think it around the district would collapse. It would or your hair now what it became clear. That. There's been a record in that last. Court so. What are different. Folks in the new export it. They double meaning of the court that. You know the question of how far. What appears to be happening now is that. So I thought that what happens if the orca. At the historically high level. Then the things that are driving the market like. Vehicle and inexpensive gas prices relatively crowded and Tokyo. Economy. Over right now. I will spend. Pretty well the ball well going for oil. And then we have the and throughout. And what kind do you know what the industry know oh well. We haven't seen many you know you open it as well. Because it that are critical eat your pocket but it. What about the average price of a car I was talking to somebody who's down on the industry last week and he says daddy they're never gonna get over seventeen million but. You know the last I looked the average sticker price of a car coming off the lot was 35000 dollars so they may not grow. The number of units sold but it seems like margins are fatter. And prices are higher than ever before. Margins are good that ever that important as you pointed out there are by yeah. At the moment of the white. Pick up that hole bigger and pick up truck do it will Wear market musical group. It. Oh yeah that that the pocket that are. Great incentive does well you know an automotive manufacturer. Has put on the table. Do you know we we deal should the consumer and they have been doing that they have been reasoning in the it department or or. Is not buying the market here or there until there. Are. There. So there would be a couple that. The oh. GM is pretty big in the electric cars they've got the Chevy Volt and now they came out the bolt in December. Are they bullish or bearish on electric cars going forward not too sure about the trump administration's gonna feel about electric cars. Yeah that's what I mean they're they were. All it. I'm not in the vehicle I think they expect there enough to put your market with a I had an experience. But Portland vehicle aren't able. And you know won't have done. About the we will know more about the vehicle. I think all that it would not let. That. Or. Politics. Are desperate or vehicle more. More appealing. I also have. Oh they're able to cover that side. But they're good at the local outlook and not war. Ultimate attention. Market and at one you bought it you know more significant percent of they'll they're but the Olympic about one. Of their respective. Right now keep in Thailand are both thank you very much for joining us that appreciate your time and oh pitch again another interview. That the board from business insider giving us an update on General Motors that are seemingly. The strongest. Of the three American auto makers if you include via Craig's. Do you think in terms of their overall positioning they're still in a better spot than for right now is coming out of the recession Ford was the company where we sat around and said David you know they were the most stable financially dating get themselves into the trouble that GM or Chrysler did. They had the best suite of vehicles you feel the tide has turned in GM has the strongest. Strongest. Platform out there now I do I think they've got a better balance sheet because remember Ford did not go bankrupt yet in forward I think the end result wins. They kept about fifteen to twenty billion dollars in debt where General Motors did not yeah in General Motors basically walked away. It that was actually really bad if you're bond holder in General Motors. YouTube that group you got black you yeah you are not treated according to law anyway but General Motors regardless of how you feel about that. They were able to. Circumvent. A tremendous amount of debt and I think that's part of the reasons that they were able to put more money into research and development. And one could argue that David better fleet of vehicles for sale then goes forward or via Craig's. Yeah I'm curious to see who wins have coming up is as we just talked about GM does have a leg up in terms of pure electric vehicles on board as well as they continue to push some of their hybrids. Which Ford is also in hybrid based at fort doesn't have a pure electric. At this point I think they do but it's only it's modest generally California or something like that it's legal experts Salem limited regions. Well that's why the trop administration can impact this because. A lot of these automobile manufacturers. Were coming out with electric cars in order to hit the EPA guidelines or the EPA said when your fleet of vehicles passed again X miles per gallon. By this time right Andy and a year if it's a phased in by between now and I think 2030. But that's why the auto makers all went towards electric car now if president trump. Repeals it right then that's gonna change the landscape you may have a lot less interest. In electric cars going forward. When we come back we've got trivia question for you and Rick talked about the Broadway Show Hamilton. Making your Smartphone even smarter. Dell logo mobile lab by surging financial exchange joke in iTunes or those who. Play in stores this is the financial exchange radio. Network. 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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 dollar offers fixed or variable rates for both purchases refinances all originations are managed by your bank's local underwriting processing teams for additional information call 877697900. That's 8776917900. Or visit leader bank dot com. -- DNC equal housing lender and -- is number 449250. Subject credit -- -- -- a step ahead accordingly -- the average customer private room at a nursing home in New England is 126000. Dollars per year and the average cost is expected to increase to 169000. By the year 20/20 six how quickly would you -- since being depleted if you -- to write checks to the tune of 141000 dollars every month well it's certainly a deal to develop your asset protection -- in advance life tends to get in the way if you -- a loved -- are faced with an unexpected personal stake and you haven't done your planning before you write that -- pick up the phone and call 8668485699. Get some expert advice from the law -- of -- and -- which has been helping families just like -- protect their assets for more than thirty years they have put together brand new guide for 2017 called planning for procrastinators. You can not put off this call any longer get your free guide today you can learn how to protect your assets 8668485699. That's 8668485699. Or download the -- right now from our web -- legal exchange showed dot com. It's our daily poll question had financial exchange showed Doug John. Vote your conscience. There are just votes go to financial exchange oh does come in castaway. Trivia is brought to you by the buccaneer beach and golf resort in saint Croix US virgin looking for great vacation destination and call my favorite place called the buccaneer mention my name in. Get a 250 dollar resort credit on a state of five nights or more. In George three gorges be just fine and casual dining shopping historical sightseeing and much more. Call today 802553881. That's 802553881. Paul Ryan speaker of the House of Representatives turned 47 years old today yesterday. We're going to be doing trivia about speaker Rhine. In which city was Paul Ryan born our text number is 68681. Listener with the correct answer wins a 25 dollar gas card. In which city was Paul Ryan board and again first listener gets the 25 dollar NASCAR for flows through the correct answer gets toward gasket. Did you see the story about the scheme involving. Hamilton tickets. Well Hamilton tickets for those you have would not be enough familiar with them have been in. Obviously gave a major draw over the last was it two years since it came out I think and they sell for absolutely exorbitant. Prices now I sit exorbitant. Do every event has people they're paying Super Bowl tight prices. For the tickets like you'll see price like if you wanted to ago. On Saturday night to Hamilton that you could pay me. For 5000 dollars for a ticket yeah prices are nuts yeah and what this scheme allegedly did is they ran apparently 51. Million dollar Ponzi scheme. That pretty much they bought different blocks of tickets. And in effectively. They took a lot of said in a bind when they said they were buying bought tickets are pretty much they took his 51 million dollars and largely were running their own money and just say hey whatever we want we need a boat if we need to go on vacation or whatever. They were pretty much taking this money and they were promising investors a 10% annualized return for these tickets they were supposedly selling. Because they supposedly the old stated to their investors. If they had an exclusive arrangement to buy tickets from the producers of the show which is not true you know an investor not ask for like something in writing. Well I'll tell you what happened with a lot of people because I know somebody personally who did this who was taken advantage no way like this scam reality and it's a young lady. Very Smart in and she wanted to buy tickets and she knew she had a year in advance of the wish you got duped was. She bought her tickets I think it was a thousand dollar deposit. And she was promised she would get tickets but not for one year. And thousand dollars by the way for two Hamilton tickets to embark that's cheap that's that normally like half one ticket right. And so then it was last fall when they are supposed to go who is in October November when this young couple was supposed to be of the go to C Hamilton. And she tried to get your tickets in all the sudden this organization that we reference became very invasive. And didn't deliver the ticket really sushi went to the New York State attorney general's office and she filed complaint after complaint I think that's what brought them down. I think they had promised tickets. To people. And were not able to deliver on it and then they are finally brought down it's like a house of cards. The name of the company was advance entertainment. In advance entertainment to. And they're basically being run out of a residence in New Canaan Connecticut. Yeah and it and again investors supposedly lost 51 million dollars on this and all these people didn't get their tickets. If he didn't she did not get or take its end. You very low likelihood. Of her getting back any of ramadi and it's one of those things where the money's gone off the top five years from now typically get a bankruptcy judge will be appointed tonight. And they'll find out that they've raised fifty million dollars and they still at five million sitting in checking account so liberated attentive to the dollar. Exactly so that they'll get something back but most and it is gone at this. It's not a lot different than Bernie Madoff is the different twist no there was easy they could track down more the assets obviously just because they they still had some assets in places where people had gotten paid out over. The course of the scheme so they could go after some of those then but this does not. I don't think there's going to be a whole lot laughed. Union membership. Has fallen to its lowest level on record. It's down to ten point 7% of workers were union members last year that's down from eleven point 1%. In 2015 at chuck. You know I often referenced the UAW we talked about how they used to have. I acted the number was two and a half million UAW members back in the eighties and now they're down to do a couple of 100000. This is indicative. Of what's gone on with union membership union membership over the last thirty years 35 years has diminished tremendously. Yet the the UAW and Opel the numbers right now was at one point five million workers back in 1979. Okay today it's less than 400000. Now OK so you've seen a decline of about 75% there. And what you've seen is that the air is where you continue to see strong unions push that teachers unions teachers in public schools continue to largely. Be based in unions. Other industries though you're continuing to see disruption there you know you talk about retail today and is not an awful lot of retail employees that are represented by unions though it's an a smaller group than it used to be I remember when my first job I Stop & Shop. I was part of the union and I paid you know my two dollars every week for that new 1218 weeks ended up working there. But you know continues to be a smaller piece of those industries is why he's. Think it is he is that the workers are saying I don't wanna be part of the union or unions just having them which lets power. Probably both I think I've ever way as a union member. I I didn't feel like I got any value from you know use in when your kid working for union. You know they take the money at your paycheck in the it would it would exactly with my right benefit port. And I think I'll I talked a lot of guys who have maybe. In one of the labor unions or even in the teachers' union lot of resentment towards teachers because they're paying dues every month in the say what do by getting. I think it really depends on the industry and what the union is able to negotiate in those respective industries did dug out some of them in especially you know in Massachusetts some of the construction unions are pretty strong actually terms of being able to deliver on wages and benefits if you want to work if you wanna get city job exactly you ought to put up a high rise in Boston to better anti union deal exactly so I think it really depends on the union and the industry. But in general you know I've talked a lot of my friends about it and many of them are interest in union representation just because they say what what do they can actually be able to do other than take that money out of my PH. And Christmas tree at the it distant as a number that is staggering. Public sector workers. Last year accounted for nearly half of all whose union members that we yeah. It would represent 15% of the workforce but half of the union members are coming from the public service. That's. That tells what he need to know about private sector unions they're just about dead at this point for. They don't forget if you're looking for great vacation head on down to the buccaneer resort in saint for US Virgin Islands it's a terrific resort. Rate on the beach. And I tell you you're never gonna get yourself a better vacation than that the phone number is 802553881. Buccaneers the buccaneer dot com. But if you want to call and make a reservation and use my name in the beauty 250 dollar credit resort credit. It's 802553881. Speaking of the unions Connecticut is the fourth most unionized state in the country wonder that speaks to the financial condition of Connecticut. Yeah on the number of vol workers belonging to unions in Connecticut actually grew by 6000 people. In 2016. Surprising and so what you see is that seventeen point 5% of Connecticut workers the union members as we mentioned. Across the country only ten point 7% of workers are. And that is the fourth highest rate always states that are higher New York Hawaii and Alaska Alaska's little surprising to me. You don't worry getting a lot of union work goes United Technologies. And electric boat. Yes it electric boat is hiring a lot they started hiring aggressively. Last year and they're really gonna pick up their hiring. In twenty team for believers those are all union jobs. And and a you know a lot of the jobs United Technologies and yet in that would explain why Connecticut's actually seeing growth in union jobs where. If you look overall in the country number of union members actually fell by 240 thousands of Connecticut definitely you know wire there and I think that electric boat. Hiring spree is a big reason why. Workers are getting paid I was looking at the way yet US auto workers are getting bonus. And I like what's happened in terms of the transformation of the US automobile industry. It used to be where the union to put a stranglehold. On the company's back if you looked at back at negotiations between the unions in the auto companies back in the 70s80s. And ninety's. They could shut down production for. The Big Three pretty quickly don't they get ya on on a pretty regular basis. And then what happened who's the wage packages got out of sync it they just couldn't be supported they had all these. Pension obligations. That word not supportable so when they went bust in 2008. They redo it redid all the labor contracts. So they still make a good way to their feet up wages is pretty healthy if you're working for General Motors or Fiat Chrysler you're getting good wage. But now you're getting a pretty significant portion of your compensation. Is tied to the profitability. And productivity of the company. And I think it is the best way to try to compensate employees in in the long run because eight. Your employees that are more motivated to not only build a better cross prop product. But also if they can find ways to cut costs yup that helps their paycheck then because you're passing those profits through so. I think that profit sharing is one of the things. Good companies tend to do which is because it encourages. The right kind of responsibility from employees in terms of hey I'm I'm getting its share of these profits if I can find a way to use one staple instead of two. That means I'm gonna get more when it's all said and done one it's H demonstrates. The changes that is that are happening within the unions because those are the lot these are workers that are union members. They're getting these bonuses a General Motors worker. Is gonna get a bonus greater than 111000 bucks I I it took change in the private sector not that many workers getting bonuses of 111000 dollars up to its its interest in because I. Reducing Tucker who was that we had on was it a kick out pass control last week and yes there's ever was yeah. And they they did something interesting they actually still have a pension yeah and it you know to company of 28 people and they have a pension in I'm just wondering if if you start to get to the point where some of these added benefits I know they've got away from a lot of companies. But I wonder if you start having to incentivized people eat with those types of things again just because. Things have gone over are you a direction. You look at that you talk to an employer I. The employers are finding great difficulty in finding good workers and auto workers out there is not that many good work no that you wanna hire. Up next we'll be joined by Alex Bryant for Morningstar we will be talking about it looks like in ETF perhaps no evidence we've we've got an idea that we're going to be talking about with Alex and really digging into well how it operates and we'll have the answer to our trivia contest of course that's next from our insurer match dot com studios. The markets from start of. Initially get Howard daily market recap every day at 5 PM on our new website financial exchange Joseph does come up this was the financial exchange radio network. Hi this is very Armstrong and if you're an active investor you. Probably know about the department of labor's fiduciary role as an independent investment advisor I follow. But not every registered represented is currently required to follow the deal well regulations. Earlier this year the US Department of Labor modify this law and effective April 10 when he seventeen all advisors will be required to practice fiduciary for their clients my staff and I have written a free guide to help you fully understand these changes. And how they may affect you. Calling get yourself a copy right now at 80393. 4001. That's 803934001. Or download the guide at our website financial exchange showed dot. Top security suffered a series America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. Your financial strategy has to include a thoughtful insurance plans and insurance exists to protect your assets. Our friends at the -- -- -- agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates in carriers and 844 and 99 match -- 8449. -- nine match insure a match works with the leading carriers in the industry like our -- Plymouth rock and more their license for all types of insurance and continued time stressed the money with just one phone call and one relationship. Call today 84499. Match or go online and ensure a match dot com. Her are strong here and I'm joined by state planning attorney Todd what ski from the legal exchange in Cushing in Dolan were talking about. Last minute planning techniques if you're procrastinators. This segment is for you. Todd we talked about married couples in the past and what can be done to protect healthy spouse in the event that somebody's going into a nursing home. What this somebody who's doing planning for single or widowed individual. View with what do how the circumstances different for a widow as. To a married couple. Well you know I'm gonna focus on the home because most of the time people have a home if they have a home that's one of the biggest assets that they wanna protector preserver of honor him. You know leading money that's children or family members is one thing but leave my place to live with no mortgage is is a home run. And so they don't want to lose their house and so even when you're single. There's a way of saving a house last minute it's not the best. At that advance planning is always better. But they'll allow you to when you get help applying for Medicaid to check a box nine tend to return home even if you don't. So at least make house non accountable and they'll put a lien on it. But it will be non accountable so that you can go on Medicaid which really means you instead of paying 141000 dollars a month. In losing the house you go and you pay 6000 dollars a month less your Social Security of say two or three. In the lean running up on the house now only 3000 dollars a month that's manageable. For the beneficiaries who got to keep perhaps. If you're procrastinators. This guide is for you it's called the last minute guide foreigners nursing homes situations. Call 8668485699. It's exclusively available from Cushing handle. What do you do as a last minute plan when you have a loved one entering a nursing home 8668485699. Told free. 8668485699. The markets are still well it'll kick Thorpe. Get our weekly market recap by becoming a member of berries brigades visit financial exchange showed Doug come in sign up today. Paul Ryan was. Born in Janesville Wisconsin on January 29 1970. Ian Stanley still reside in Janesville. Which is located in Wisconsin's first congressional district. And the winner on this question is nick from Dunbar New Hampshire nick is taking home 825. Dollar gas card to mobile. Additionally our trivia contest is brought to you by the buccaneer beach and golf resort. In saint Croix in the US Virgin Islands called Mary's favorite place the buccaneer mention his name and get a 250 dollar resort credit. On any day. Of five nights or more you can enjoy three gorgeous beaches. Finding casual dining historical sightseeing. And much more cultivated booking a trip and don't forget to mention very Armstrong's name to get your 250 dollar resort credit. On a minimum five night stay call 802553881. That's 8025538. 81 we're joined now by Alex Bryant from Morningstar and we're gonna do. Variation on a mutual on Monday were actually into an ETF Monday and Alex thank you very much for joining us. Alex the fund. Is the iShares edge MSCI minimum volatility DA FE ETF. What do I just say and what is it actually do. Good fit that. Or possibly on basically tried to construct. But we bolt a portfolio possible. Using the war in multiple markets stocks listed in the U in the UI eco index what that means is that they've been trying to construct they a portfolio that will keep you a little bit less risk. By investing in the ball market stocks overseas. Bella does step by looking at both individual stocks both solely as well as the correlation between stocks with looking at how. They interact with one another to affect the overall. Risky that the whole portfolio. To try to construct we both support we are possible but it doing so. Under a set of constraints designed to improve her diversification with limiting. It's our country that it's also limiting its Specter about both have the opportunity that. Now I was looking through while the list of countries in here and it is important to note that this is not going into your emerging markets it really is dealing with Europe as well as Australia. Israel Hong Kong New Zealand it's your developed markets what's a little bit more stable than some of those more risky emerging markets fund correct. That that's correct yes so this is. Only going into that to default markets overseas. You know that being said you know and any time he killed overseas you do you have that currency risk that tends to make. Overseas stock the world bit riskier than US stocks the reason why I like this particular offering is is designed to provide that exposure with less risk than most of the years again because it's specifically targeting stocks that have exhibited. Low volts will be in the recent past. It's also looking at its stocks of local or at least what one another so what's. We try to do if you. Optimal diversification benefits to give you a smoother ride so you do you wanna diversify overseas and your little bit. More risk averse this might be really good offered you that exposure with a bit less risk. So for example over the last five years if you compare the performance of this bond. Against the broader opportunities that from which it's wrought its holdings it actually it did 20%. Lower volatility that it's in the in the CIE index which is the broader opportunities that. Armed with deliberate on its promise of providing a smoother ride to investors when exposure to foreign stocks or receive. Are there any type of dividend distribution yield to this fund. Yes there is would be here so this particular funds. Pulled up here. Is offering a estimated dividend yield of about 3.4 percent which is you know a bit higher than what you might find from. From a US. Broad market fund. So. That that's consistent with the idea that stocks overseas are tending to trade at lower body weeks and than their US counterparts but that's not surprising at all. All of the stuff that in the but again at our bit more mature bit more defensive but they do. Due to to have early attractive. Distribution deal. In terms of the expenses to an investor on owning this on how much does that cost right now. This on cost twenty basis points that twenty dollars for every 101000 dollars that you invest in the funds that one the lowest in in the category. So I think that's a fairly reasonable price to pay for the the unique strategy that you're getting here. All right very good Alex thank you very much for joining us. I Alex Bryant for a morning start talking about the iShares edged MSCI minimum volatility EAFE fund and those you who don't wanna remember that I can give you simple ticker if you want a researcher at the ticker is. FAV. But elites it's interesting to watch the activity in the markets they stocks continued to sell off based on the Donald Trump. Travel ban. If it's across the board to folks the Dow down 200 in nineteen points. At 191874. At NASDAQ selling off more than the Dow the NASDAQ is down one point 44%. So you had your opinion as to. What are your thoughts are on the travel ban most of you very supportive of the travel and the poll numbers show that 74%. Of view. Favor Donald Trump's travel ban what I can tell you is that investors corporate America and big investors wealthy educated people. They don't like the travel ban and they are selling their stocks as a consequence. Markets down across the board golds up though if you like gold is a good day for gold gold is up eight dollars and seventy cents an ounce. But thank you for tuning in to this hour of the financial exchange trucks not a talker so buck and me. Very Armstrong from our insurer match dot com treated. If you're thinking about retirement soon it's time to make some big decisions do you know if you should roll over your employer sponsored retirement plan into an IRA how about changing your investments to an income focused portfolio do you know win the optimal time to collect her Social Security is hi this is very Armstrong and there's so much to consider before you stop working my firm BR strong advisory group has put together a 2017 retirement guy that can help and it's yours by calling 803934001. You worked your whole life saving towards retirement doesn't make sense to get professional advice to make it last call us right now at 803934001. That's 803934001. Or download a copy from our website at financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services officer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of the professionals familiar with the laws in your. 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Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insurer mention agency can prepare personalized plan that gets you the best coverage -- the best price call insure a match at 84499. Match let's pay for four and 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered -- also dig out all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates in carriers and 844 and 99 match -- 84499. Match insure a match works with the leading carriers in the industry like our -- Plymouth rock and more their license for all types of insurance and continued time stressed the money with just one phone call and one relationship. From the law from Cushing and Dolan were talking about last minute. Planning techniques. For when you have a loved one entering into an arsenal more and more people are providing in home care for their loved one's talent is there anything. Medicare provider can do that would be beneficial to them or the fame. Yeah that's a huge problem today variant you might imagine so many people are leaving their jobs even in there with their families and and when that happens. The person who's doing it isn't that China isn't necessarily looking to get paid but they gave up their job. And I can tell you the parent is OK pain and they don't mind. And so what happens is don't just hate them because if you just pay them it's gonna look like a gift. For Medicaid eligibility purposes and it's only gonna hurt you. If later on you go into the nursing needs some kind of a contract between the parent and the child were on to the child for exactly. Between the care provider in the caregiver. And the care the recipient they need it a personal care contract that needs to be drafted up. What that does is it cleanse his the relationship and says look there wasn't intent here to get paid and you are providing a service and you actually have to report on your income tax return. I really plans of the transaction and prevents it from being a disqualifying transfer. So the person who got the money can keep it even after the all loved one may need nursing home care. Medicaid. Planning is. Complicated and you just heard about it caregivers contract as it relates to protecting assets last minute call Cushing handle and an 866. 8485699. And learn how you can conduct last minute planning for nursing home situations. 8668485699. To get the guide told free 86684856. 99 I about the you can't have an all proud of the same people who tell you can have a cake but you can't needed to. I'll just watch after a day of skiing and riding. What a wonderful talent resort's famous shot gracing me with giveaways special straight food and movies for kids enjoy love music and stage for the fireworks every Saturday and town square mile line of say 55%. By the way I'm having your cake and I'm eating it too. Forever in Waterville Valley visit water buildup com Waterville Valley resort is a proud partner of BMW. According to Genworth the average customer private room at a nursing home in New England is 126000. Dollars per year in this average cost is expected to increase to 169000. By the year 20/20 six how quickly would your assets being depleted if you read to write checks to the tune of 141000 dollars every month. Well it's certainly a deal to develop your asset protection claim in advance life tends to get in the way if you were Loveland are faced with an unexpected nursing home stay and you haven't done your planning before you write that check pick up the phone and call 8668485699. It's an expert advice from the law firm of Cushing and Dolan which has been helping families just like George protect their assets for more than thirty years they have put together a brand new guide for 2017 called planning for procrastinators. You can not put off this call any longer get your free guide today to learn how to protect your assets 8668485699. That's 8668485699. Or download the guide right now from our website legal exchange showed dot com. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally that just makes sense to leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency not guaranteed by the bank and may go down in value leader back. A step ahead. If you're thinking about retirement soon it's time to make some big decisions do you know if you should roll over your employer sponsored retirement plan into an IRA how about changing your investments to an income focused portfolio do you know win the optimal time to collect her Social Security is hi this is very Armstrong and there's so much to consider before you stop working my firm the Armstrong advisory group has put together a 2017 retirement guy that can help and it's yours by calling 803934001. You worked your whole life saving towards retirement doesn't make sense to get professional advice to make it last call us right now at 803934001. That's 803934001. Or download a copy from our website at financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for your securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seeking advice of the professionals familiar with the laws in your state. This is the financial exchange with the Barry Armstrong and shut sun out. You're exclusive look at business and financial news affecting your day your city your world stay. Informed and today about economic and market trends plus get breaking business news every day. And the financial exchange with the area Armstrong and chuck. The travel ban is having a major impact on the stock market. CEOs and investors around the globe. Are not happy and and do not approve of the truck and I respect how you feel I know the vast majority view supportive. Of the Donald Trump travel and 75% according to a poll however. I give diary now that was down 200 points S&P is down 24 points. More than 1% across the board tech companies down more than any what's the logic. Behind travel ban having an outsize impact on tech companies as opposed to the rest of the market. We'll tell you what yet you're three three sectors that are selling off the most right now our tech. Materials and energy energy is actually down the most over 2% believe not that that's actually what seeing the biggest style loss right now. As far as tech goes book tech companies historically. Have hired an awful lot from overseas and the concern is hey if we're not going to be able to get you from overseas either because we're not going to be able to. Due to this executive order or. Maybe people from overseas don't want to come because they're nervous about what might happen to them if they come to work in the US that's a situation where. You know Microsoft on Friday had to come out with guidance saying this executive order could impact our ability to do business from that they let it could have a material impact on our profits he hasn't done anything yet on the twin B visas right that's 85000. H one b.s. Made available every year yet has it hasn't done it yeah yet the there's chatter that you're gonna get something on that later this week. And if you do see an end to be honest I I do not know what the laws bar is how far how what kind of reached an executive order would have on a on a program like that. But if you did something there you would see likely a significant sell off. Across tac in that would be because we detect companies would say they couldn't hire enough talent. That means if two sides that argument or they donate the tech company CEOs claim. There's not enough American talent to hire. For the tech jobs that are existing yep and then if you talk to an American worker in that field and you and I have clients at work in that field they'll tell you. That the tech companies use the seat one B visas to depress wages it. It's probably some of both they're definitely companies that abuse the process there's no doubt about that there are others that. Can't find the people they need domestically and need to go and find people from overseas in order to fill spots so it's not a blanket one size fits all we're every company that uses some. Is simply doing it shut out American workers there are some companies that use the program appropriately there are others that don't just like any other government program there are plenty of people who were on Medicare Medicaid that use the program exactly how they're supposed to. There are other people that abuse it because they're trying to perpetrate Medicare Medicaid fraud. Toyota who lost their global sales tied title they had held that title for many years since 2012 as a 2012. Thirteen fourteen and fifteen Toyota sold more cars than any other car company in the world. They lost the title now it's not surprising that they lost the title with surprising to meet chuck is who they lost it to. Yeah I lost the Volkswagen who about what fifteen months ago was back in October 2015. We first heard the issues that they were having with. Their missions cheating software and somehow in the year after that. Volkswagen actually ended up selling more cars Volkswagen sold ten point three million cars were originally due to growth in China where they didn't have. These regulations they didn't have these kinds of issues that they were faced with. And so I think it's largely on the back of that Chinese growth that you saw. Volkswagen surged into the lead whereas Toyota which is much more heavily reliant on Japan and the US. Ended ups sliding a little bit in terms of its ranking obviously they produce more cars but not as many walks I I was just surprised because I know. Volkswagen's sales domestically here in the United States suffer. But they must've made for the Red Bull yeah they clearly made up I think largely in China Volkswagen and GM are major major influences in China. And I think that's the reason you ended up seeing Volkswagen come away with that overall sales title for world sales ten point three million vehicles sold in williams' team I think Jim might sell more cars and trying to do and it's. Did the probably getting close now I know they're getting close. Where the pop socks going talking about the Pawtucket pos socks at least that's how they're known today. Wonder well with they'll be known as if they move out of Pawtucket I guess that the ball field that they play out in Pawtucket. Pretty old and pretty tough shape. If it's old it's a little bit run down and everything but it's a minor league stadium. And you know I went there as a kid just because my parents say it will go to the pos socks and go into Fenway to teach her night out if it's easier. And apparently on Friday Rhode Island governor Jeanne Armando says that he's open to considering sic state subsidies. In order to keep the pos socks in Rhode Island. My advice to any Rhode Island citizen as well as the governor would be. No you do not give state subsidies to. Sports teams why because they can afford to pay for their own stadiums on the road without either imposing taxes on your own citizens' group or people coming in for tourism. I don't think it's right to why have teams holding cities hostage I think that it's generally wrong and I think that. But doesn't work out financially for the city it generally works out pretty terrible so I am generally in favor. Of voting down any type of measure to contributes state dollars to. The private organizations stadium I just don't think it's right and if it pays off. We're Engel Tucker a guy like you there was a rumor last year that they are considering Worcester that it had meetings in Worcester tie it that. Or or would they move out of the northeast altogether pretty enough noted a staff there. All sacks heavy unique relationship with the Red Sox because they were recently sold to some of the X owners and so they want to remain close to Boston I know. And still be somewhere up in new England's Manchester ever Tripoli team. Chester New Hampshire. And now I'll double check that I'm pretty sure that to all they have a new ball park well. Ultimately the nice nice facilities and I'm an expert a Minor League Baseball so I finally got to get with that the unit with it New Hampshire Fisher cats are Manchester now the date the you can see it is your driving up for three you must of seen it before. Yeah the other pitcher catcher in Manchester there I don't really truly might believe him is that a Mets affiliate Fisher cats. I don't know however. I wonder were off they go if they wanna stay in New England in Natal day in Rhode Island. Where they go. Western Wooster with law. Yeah I mean you figure you mean you could do was Jeremy and it would probably be an opportunity get some of the go somewhere in Connecticut but I don't think Connecticut as the budget nor should they give money. It's an air ahead of his time with their comfortable power pilot at the blue jays affiliate the other Fisher cats up. So I hope Rhode Island doesn't end up giving subsidies to the boss sucks is because. They don't need them if they. Think about why it. The boss not want to build new stadium it's because I wanna say they want to make more money we'll look at you want to make more historically used them where you don't get someone else to spend more. Larry Lucchino and part of it yeah he does. I delta dictate what if you fly for living here it's a Europe a business traveler. I'd tea I don't know if I would fly on delta bait they've had one heck of a problem with their booking system and here. They're all it all their problems at Delta Airlines and huge airline knew what the biggest airlines in the world. And they can't get their technology work. Yet it this has been an ongoing problem for delta. And you know really this is something that started on Sunday and it's continued this morning actually this was gonna remember reporting on this last year of this been going on for for years when it when it's all been said and done. And the problem is as the delta is one of what when you look at how they've built. Their company is a whole it's it's been so much acquisition of other large companies that it's pretty complicated all these pieces fit together ray and what you've ended up with here so it's problems due to the he's Hungary Italy lot of legacy systems and it's a lot of legacy systems that yeah they've kind of gotten it all together but ET it's not really the cleanest. Cleanest and in most. Efficient company overall and I'll tell you you know. I personally I tried to avoid flying delta if at all possible usually I fly either jetBlue united and American those three airlines that I typically try to fly. Daughter. I do I find her service I find there there service is better their planes are cleaner they're placed and being you were delta still flying a lot of the old MD 88 from like the early 1980s that are you know narrow and they get the engines in the backs of the noise of your back there's. Nadia and everything. So I generally try to avoid flying delta in a lot of cases and I'll tell you because they're big out of Boston. He's here yeah out of the north east in general. When you're flying out. You know Hartford. Manchester province delta is a big blow the airline their biggest hubs are obviously Atlanta and then hit the floor JFK's big for them Logan is very big for them as well. And I know the Los Angeles and Minneapolis are pretty big to discuss Minneapolis was the old hub for northwest so they got a lot of flights out of there you shop based unfair is that late game is that the screen that you use so I generally my rule of thumb is I typically go and look at jetBlue first compared to everything else and of jetBlue and twenty dollars or so I'll go jetBlue just because a lot. Just of the all the rewards points and everything I just like condense them all in one area agency can actually use them. So I tend to look at jetBlue and if it's been twenty dollars I'll go that route if it's more than a kind of bounce around I sort based on duration and lots of you know the time and I stopped that I. And yet there yet dasher I mean this guy like how quickly can idea I enjoy it. I'm I'm weird and on aviation not budgeted. It's something I really enjoyed. The fact that I can fly 3000 miles in six hours for like 300 dollars these amazing think about the ability to remarks it's amazing what were able to do. You're merit pay up next or talk about caution that you should take if you're about to buy a used car maybe a by any use car for your teenage son. Let's say what you better be careful buying used car is more dangerous today your kid could die. If you bought the wrong used car that's next Ron Lieber New York Times joins us to talk about. He used car purchases from our insurer match dot com studios. Your business to even talking about your business needs this is the financial exchange radio network. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets and our friends at the insurer matching agency can prepare a personalized plan to get to the best coverage -- the best price call insure a match at 84499. Match 54 for 99 match many of our listeners own -- home and one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered will also dig out all the discounts preferred customers like you can qualify for call insure -- match to compare multiple rates and carriers at 84499. Match that 84499. Match insure -- match works at the leading carriers in the industry Mike Rabelo Plymouth rock and more their license for all types of insurance and they can save time stress and money with just one phone call and one relationship call today 84499. Match or go online at insure a match dot com. Hi this is very Armstrong and if you're an active investor you. Probably know about the department of labor's fiduciary role as an independent investment advisor I follow. But not every registered represented is currently required to follow the deal well regulations. Earlier this year the US Department of Labor modify this law and effective April 10 when he seventeen all advisors will be required to act as fiduciary is for their clients my staff and I have written a free guide to help you fully understand these changes. And how they may affect you. Calling get yourself a copy right now at 80393. 4001. That's 803934. Zeros or one or download the guide at our web site financial exchange showed dot com. Dirty suffered securities America incorporated members in SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of professionals familiar with the laws in your state according to Genworth the average customer private room at a nursing home in New England is 126000. Dollars per year in this average cost is expected to increase to 169000. By the year 20/20 six. How quickly would your assets be depleted if UN to write checks to the tune of 141000 dollars every month. Well it's certainly a deal to develop your asset protection plane in advance life tends to get in the way if you were -- loved -- are faced with an unexpected nursing home stay and you haven't done your planning before you write that check pick up the phone and call 8668485699. Get some expert advice from the law firm of Cushing and Dolan which has been helping families just like George protect their assets more than thirty years they have put together a brand new guide for Tony seventeen called planning for procrastinators. You can not put off this call any longer get your free guide today and learn how to protect your assets 8668485699. That's 8668485699. Or download the guide right now from our website legal exchange showed 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 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. Or visit leader bank dot com. Minarets the icy equal housing lender stimulus number 449250. Subjective credit approval leader bank a step ahead. If you missed any part of today's show not to worry good financial exchange showed dot com and click glistening. Then click on the mend and catch up on every segment. You'll also find podcasts of all of our poll shows just punch of that listen but who had financial exchange show does come. This segment of the financial exchanges brought to you by zero. You're landlords take advantage of zero fully automatic online red collection tool this free for landlords. And tenants within account at a participating bank and always it's always refer to sign up in Everett checks deposited directly into account. Call 8776917900. Or visit. Z rent dot net. Well we're waiting for our guess. And I'm sure he'll show up momentarily but let's talk about the State's revenue shortfalls. Are exacerbating. The budget corruption I mean there are a lot of states where revenues were down. In sixteen vs fifty yeah I aimed specifically. You know you have a lot of states were revenue simply have not. Caught up the same way that things like the stock market average you know the markets up. You know 200% since its bottom of revenues and a lot of states. Have been hurt in some cases state like Virginia in particular was hurt by the sequester back in 2012. Simply due to the fact that they received a lot of their revenue. From federal employees tax revenue in it yet you were federal employees Virginia ends up being hurt there so a number of different reasons why states struggling. But it one time to have struggled because. There's a lot of jobs opens at PF to lay off. 10% state workers or 5% state workers they're going to be you'll find work or you have it you have a weird situation like state of Alaska which depends on oil revenues for a lot of its a lot of its revenue. In what you end up with there is yet you may have to lay people off but they can't going to the oil industry has a lot of those jobs. Aren't there anymore right that the relocate yet and that's hard to do yeah any instances here to talk about buying a used car. You know normally might be around Heidi get a good dealer Heidi yes a good price on his card and I have to worry about buying used car in the darn thing might kill. We're joined by Ron Lieber from the New York Times I don't run. Great are you good idea enjoyed your article I think it was posted about couple days ago. But talked Lucy unite if you're buying a used car and it says certified. Pre owned what does that mean. Well different auto makers it is an independent car agent to have their different and definitions of what certified means big east generally designed to meet the consumer feel better which means I am a professional mechanic is gone over you know 172. Point checklist and real. Really worked at this thing over and stick to that that you will have no problems. Theoretically and it often comes. Without some sort of bumper to bumper guarantee that might have. The last twelve months so in the recent weather car companies wanna do that is because we get people peace of mind with peace of mind they can charge you more money for a couple of. Quote a lot of us if we're buying used car we're doing it firm. 22 year old daughter who just graduated college right you are doing because we don't that we're broke through pain or tuition. Now we're trying to helpers get long actually buyer used car. But it doesn't include these darned ticked had a air bags I mean how how many airbags are in cars that are at risk. Well here's the thing to hear from many of the auto makers are still insisting turnout that they will not they'll certified used vehicles. That hasn't been recall including one for cutting air bag which changed that much last week with that Ford broke ranks and that they were gonna help. These cars. And they we're gonna disclose the fact that it had to recall they're basically put the onus on the consumer to deal with getting it expects. That can afford is broken ranks apathy and it is important is because there are ordering. Million of these air breaks that have been recalled that is be because we call by far all time and it's complicated. Because they're not enough replacement parts for all of these we called a heart so that they can happen stagger the recalls which despite record to continue to be talked about that. So the big issue than is if you're buying a used Ford. If you buy used shabby can you assume that that Chevy has been had had the air bag facts. What not and just barely because if you're buying round off an Albany dealership porcupine from CarMax one of their Chinese car lot to if you are buying on the line. There are no requirements there is the federal law that there is. But you have to take the car and fix the recalled before he's developed and they'll. You can go to CarMax they may not have fixed the air bag or any other. Recall. That's gone out bodies of our ability demons and that they will disclose it to ease that you have to go and you know with your head's screwed concentrate your eyes wide open. You people think trust that's very and I don't think. Ron why wouldn't the CarMax take it any get a repair it doesn't cost CarMax anything great GM's paying for the the recall Ford's pain for the recall so white isn't. CarMax just take their 500 cars and it's a hate. We want these recalls the. I've been excellent question I had in the same thing you would think would be easier for CarMax did you that it would for a bunch of individuals. They say that the car companies saw their cars at the back of the line and leave them there because CarMax the used car business to compete. With that old. Dealerships used car business. They think consumers. Are in the best position to get a week optics which of course does not that straight consumers don't know anything about that process. At the last and die while we call out these auto makers they're putting that the back of the line to kind of felt like a beautiful conspiracy theory for you and they would not. Tell me that auto makers were so you know you decide how much you want to try to CarMax. So if I go in to buy a used car whether it's from CarMax. Wore my local. Auto dealership. Do they dole whether that psychotic airbag was replaced or nine days that do they have that information. They should have the information they may be dealers that. I'm don't look at output. Who choose not denial and that there may be delisted look at all the that they don't make it currently here either in the paperwork or to the salesperson out on a lot of what has gone on here so I think you have to walk and estimated. That it is a TU. It's death and executed double checking the top. When I exit question or how do you check rock like let's say I'm buying me. I don't know at Tony thirteen Honda CRB from my daughter who just graduated college how in the heck do like check to see that air bags been replaced. He take that that number when you walk into mature mayor out on the lot or if you're buying online you demand the pin number from the seller not a dollar will give the Q and you don't buy that car period paragraph right. You take that in every keep two things first of all you plug it into safer car dot which is the government's site. But it helps track these things and that should tell you whether there's any open recall on that specific. This vehicle I don't want to run a contract report which is services that help teams he vehicle repair history that two. GDP and useful information please rerun two things first is that three. Perfect I who we eat too hard to keep bit funny paper cart out that history. It is for them. But wait this is very helpful in and eye opening I am guessing you got a lot of response to your article today. I didn't mean we just take a step back on this race. It was supposed to be the gold standard of safety and peace of mind and what we are now learning in that he they even if he'd be used car is certified. While those big fancy car company if it does not mean that it doesn't have a team durst component to it that has not been replaced even if the seller. That was about it. Mary thank you very much Ron for your time we appreciate it. I Ron Lieber New York Times be careful buying used cars safer cart dot gov was that website he mentioned we'll be back with trivia from our insurer match dot com. You gun Barry Armstrong next financial exchange on the financial exchange radio network. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense give leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency on guaranteed by the bank in May go down in value leader back a step ahead. Hi everybody very Armstrong here from the financial exchange and I'm joined by. Leader bank and leader bank has an exclusive. Program for those of you who are landlords if your corrupt collecting rent from one attendant to 401 tenants. Zero it might be something that you want to look into. Jake talk to us about your how long has it been around we've been offerings he ran for almost two years now two years and his have been successful spent extremely successful we've. 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That's you have a bank account elsewhere will still provide a service for small monthly charge and if you ever decide to move your bank relationship over waive the fees that. Pretty pretty simple it's pretty cheap and it's a great product our land or perhaps the only club. Love it all right it's called see rent and the website for his WWW duds he rent dot net. Or you could call leader bank at 8776917900. To learn more 8776917900. Collect your rent electronically. Makes an awful lot of sense to me. The phone number again 8776917900. Or visit. Zero rent dot net. With easy genetics he now is decision time in only one resort has everything you're looking for. Oki will mound with 98% snowmaking coverage in enclosed orange bubble lives that got us ranked number one by ski magazine but that's not off. 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Get some expert advice from the law firm of Cushing and Dolan which has been helping families just like yours protect their assets for more than thirty years. They've put together a brand new guide for 2017 called planning for procrastinators. You can not put off this call any longer did your free guide today and learn how to protect your assets 8668485699. That's 8668485699. Or download the guide right now from our website legal exchange showed dot com. If you're thinking about retirement soon it's time to make some big decisions do you know if you should roll over your employer sponsored retirement plan into an IRA how about changing your investments to an income focused portfolio do you know when the optimal time to collect her Social Security is hi this is very are strong and there's so much to consider before you stop working my firm the Armstrong advisory group has put together a 2017 retirement guy that can help and it's yours by calling 803934001. You worked your whole life saving towards retirement doesn't make sense to get professional advice to make it last call us right now at 803934001. At 803934001. Or download a copy from our website at financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seeking advice and professional familiar with the laws in your state. Today on the markets all day long. And our brand new website financially strained showed dot com click the on demand includes I didn't follow the markets from pillar to post poll had financial exchange showed dot com. Before we get to trivia we got number text messages on that car segment I just wanna share coupled them with you. 603 writes my girlfriend just body used Mercedes GL for fiftieth pretty expensive car. And it has to con air bag Mercedes does not have the parts to repaired at this time so were on a waiting list that. And then somebody out else asking 863 asking what was the government website address again and so if you have. A car. You can go to this website and tell you whether or not you have any outstanding. Recall notices on that vehicle it is safer. Car dot is safe car dock of mercy for car and it was safer car. Dot gov. And check in and see if you wise if you have any recall notices on your vehicle especially your by any use car when your kids. Trivia is brought to you by the buccaneer golf and beach resort in saint Croix US Virgin Islands looking for great vacation. Well call my favorite place the Buccaneers mention my name and give 250 dollar resort credit on a state of five nights or more. Enjoy three gorgeous beaches binding casual dining shopping and historical sites in much more. Call today 802553881. That's 802553881. In which year we're do attribute this today about Paul Ryan he turned 47 years old yesterday. In which year did Paul Ryan we in his first congressional election the diamond 68680. Is our text number first listener with the correct answer wins a 25 dollar gas card. In which year did Paul Ryan we in his first congressional. Election. I did also confirmed via that website is safer car dot gov safer car yeah okay and just check I'll tell you what today that that story is disturbing. The fact that they are still sell these cars that the recall notices and it's not. I guess their required. Insert you if you ask the question pointed at the not required to make sure you know now and they can still call the car certified Treo is is it. Really like when we talk about regulations and failure regulations that seems to be one of them. I would agree you know you you would think that you'd have to disclose hey this as an airbag that could kill you were right and and and the problem is the the legitimate problem is they don't have the ability. To install it again pals that there's no license so I don't. I guess it'll inspire a lot of new Carson because what ends up happening is a lot of companies are disabled they'll sell that car into the jobs that what's going to be six months yeah. Our could be a good time to buy a used car. I don't know he scores Ingrid gain in popularity is the cost and it would have gone up if you're willing to buy one with the old air bag. Ellen and just sit on it until it gets repaired Greg buy put in the garage and even know if I won in the garage. They wait two months and then you get it to retreat replace yeah. Big oil firms look to save while smaller upstarts want to spend this is a really. Curious story. So the big voice ExxonMobil. Chevron. British Petroleum. And I am proud this in a few shell BP you mentioned BP all the big guys they are not investing. Seen in oil exploration. However there are a lot of small startups that are investing so that tells me. That the small guys are saying hey we can make money fifty bucks a barrel and we think the price is gonna stay there. BP and Exxon I think they want that price at seven and I don't think they're they you look at their budget cuts yup. They are managing towards seventy dollars per. What I know that Exxon I think it was couple weeks ago spent six billion dollars buying up some reserves but they didn't say they were gonna develop right that's right we reported that they're they're buying the reserves. That much and this is just my impression from reading between the lines when it reads stories like this up but my impression track. Is they are gonna wait until prices of 775 bucks there. You guys in and I think one thing that people are concerned about if you wore a big oil company or you know if you're just kind of watching oil markets but something that you do. You probably watch that rig count pretty closely and I'll tell you that rig count in the US and Canada and continues to go up the rig count as of Friday night I had gone over these numbers on Friday. Increased eighteen rigs last week mentality explain. Explained everybody who's buying gas today rate used Monday. Got to go to eat you know that's one of the things you'd have on your routine why are rising rate count. Is good for American consumers have pretty much what happens is let's say that prices get up to and will call right now pressure near 5354. Dollars. And you have eighteen drillers last week that say you know what. It's kind of put this thing the ground time start drilling. What that means they think they can be profitable at that price. What's gonna happen is and they probably have confidence that the price is gonna remain in that ranged things exactly so what happens is eventually you continue to see more and more rigs. Thinking they can be profitable eventually get to the point where they're not because prices eventually when you have too much production we see what happened two years ago prices come down and all of a sudden hate. We've we've got to cut operations we've got to cut our business you know kind of short things up so potentially you may see oil. Have some kind of other dip later on this year either because of rising production in the US and Canada. Or more likely I think because OPEC can't get its act together and says you know what we have we have these caps were a little bit. We don't really like each other that much you know what. We're just gonna start produce whatever we want again but I do you trust the Russians I wouldn't trust the Russians has nothing can throw now exactly so international production by the way continues to us slide year over year but we did see a gain in the rig count internationally. By four rigs actually so still down a 166 from a year ago but a slight up tick in rig count internationally. Have talked to. About my friends at the insurer match agency in May exist to make sure that your assets are protected if you're like many of my listeners who won't Holman when two cars. You're the perfect candidate for free consultation with one of their agents to help you review your insurance needs. Call them today at 8449. 99 match and let them prepare a personalized plan that would be the best coverage that the best price. Bill also dig out all the discounts that preferred customers like you can call 54 call insurer match to compare multiple rates for all of the top carriers including our bell Plymouth rock and more. At 84499. Match city for four. 99 match insurer matches license. For all types of insurance and they can save time stress and money one phone call one relationship that's all you need. 84499. Match or go online and insure a match dot com. Google Maps adding another feature as a relates to parking spot shortages. Yet this. And cool actually in pretty much what Google is doing is when you go into Google Maps. And you request directions to a destination. There's a new icon that's gonna show up in pretty much of Google thinks there's a difficulty in finding parking spaces and they get this data. From. You know interfaces with parking garage and so forth if they think you may have trouble finding space either on the street or in a garage does get a mile colored dot with a sheet that shows up and saying hey. You might not be able find parking where you're going actually. And they're doing this just so that. You can say OK maybe you have access to either. Light rail subway line or you know maybe you could park outside and take the train in exactly so it's a way that you can either save on parking or just save time on the back end there. And it's something that that makes an awful lot of sense the other thing I've seen their apps now that allow you to actually prepaid for a parking spot in a garage. What what are my buddy said this I saw about a month ago so what you do is you say hey I need to come into the garage next time. Italy I use that they give a ticket when we know this is it's Logan Airport this was in a garage in Boston now. And what you do is you pay for despite the space on Iraq the economy and at this certain time. And then pretty much you tell them how long going to be there as long as you leave by that time there's no additional charge but there's a little separate reader pretty much you hold your phone up at the back end content or for star exactly and then you just kinda go out and they'd never seen it before but apparently it's in a bunch of different cities I can't remember the name. But there's a lot of work being done to try to streamline ample parking area just because it's. Well that would make sense to mean you think about they view let's use the airport is an example. You have to stop. Punch the button get your ticket up right and then on the way back we have to do yet to stop at the kiosk. Put your credit card in I'm Cynthia when you go to a hospital right a lot of time yet to pay to park at a hospital wouldn't be slick if he just had passed. He never had collected ticket and that's immediately accept cash X he exchanged hands yet its just hey I'm going to be here at this time in. If it's like the tollbooth right where we're got rid of all the tollbooth what does that ever make your thoughts on much better it's easy as drive and out of city last night. And I don't know how much time message do you probably the anarchy you used to hit what two tollbooth everyday to how much times as they view ten minutes that. On each and herb one of them it's that total about five minutes and slide and it just in general in the mornings and your communities what. Fifteen miles yup so it's you know it's it's saved me probably somewhere around an hour week and states make a Mormon. Now who's in charge more B if you don't uneasy you don't have these guys laity that was pretty easy never mentioned that the rate and little detail. Well it's it's frequently Davies said you know you will billions if it is almost as if they don't want you to get easy paths. Because they they billions that double the rate I got mine two weeks ago actually did you it went through via tolls the first time in a demon or some of the turnout all grown up I found it amazing pastime. I hit their like once you know. Every 66 months as a political extended an example bill where technology assure us you know at city if it's a it's a great it's about it. They got a couple more people talk to us about that used car. Website how do you check if you're about to buy a used car. It whether it's for yourself or family member. The website was you said Seifert. For your vehicle and it will tell you as to whether or not there is an outstanding. Recall notice on the vehicle you're about to purchase. Produce right from your phone in the dealership. And it looks like you can now it looks pretty Jim on the website right now there's a button right on the front page that says just enter your check your vin number here and you can just plug the vin right from the front window of the car and you could probably check your own car that you're driving. Today just to see if you forgotten your car yet you know yeah I mean is that happen to me I took mine in. He's yet so much information from the manufacturer in the city at three outstanding. Recalled doses and they fixed the ball that the hero outstanding. And when we come back we'll have the answer. To our trivia question will also be joined by Steve. If you're the Super Bowl victory stay tuned. To the financial exchange from our insurer match dot com studious. Barry Armstrong and chuck son is talking about business financing your wallet well about how to keep the green and it. You being here on the financial exchange radio network. According to Genworth the average customer private groom at a nursing home in New England is 126000. Dollars per year in this average cost is expected to increase to 169000. By the year 20/20 six how quickly would your assets being depleted if you had to write checks to the tune of 141000 dollars every month. Well it's certainly a deal to develop your asset protection plane in advance life tends to get in the way if you were -- loved -- are faced with an unexpected nursing home stay and you haven't done your planning before you write that check pick up the phone and call 8668485699. It's an expert advice from the law firm of Cushing and Dolan which has been helping families just like George protect their assets for more than thirty years they have put together a brand new guide for 2017 called planning for procrastinators. You can not put off this call any longer get your free guide today you can learn how to protect your assets 8668485699. That's 8668485699. Or download the guide right now from our website legal exchange showed does come. Hi this is very Armstrong and if you're an active investor you. Probably know about the department of labor's fiduciary role as an independent investment advisor I follow. But not every registered representative is currently required to follow the deal well regulations. Earlier this year. The US Department of Labor modify this walk and effective April 10. When he seventeen all advisors will be required to act as fiduciary for their clients my staff and I have written a free guide to help you fully understand these changes. And how they may affect you calling get yourself a copy right now at 80393. 4001. That's 803934001. Or download the guide at our website financial exchange show. Dot com securities are for two securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of professional familiar with the laws in your state according to Genworth the average customer private room at a nursing home in New England is 126000. Dollars per year in this average cost is expected to increase to 169000. By the year 20/20 six how quickly would you arrest since being depleted if you read to write checks to the tune of 141000 dollars every month. Well it's certainly a deal to develop your asset protection claim in advance life tends to get away if you were a loved one are faced with an unexpected nursing home stay and you haven't done your planning before you write that check pick up the phone and call 8668485699. Get some expert advice from the law firm of Cushing and Dolan which has been helping families just like George protect their assets for more than thirty years they have put together a brand new guide for Tony seventeen called planning for procrastinators. You can not put off this call any longer get your free guide today to learn how to protect your assets 8668485699. That's 8668485699. Or download the guide right now from our website legal exchange showed dot com. It's not too late to get a great rate on hold mortgage leader banks 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 8776917900. That's 8776917900. Workers at leader bank dot com. Member FDIC equal housing lender and ML 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 their Jumbo loan program designed for financing in excess of 500000 dollars offers fixed or variable rate for both purchases and refinances all originations are managed by your bank's local underwriting process and teams for additional information call 877697900. That's 8776917900. Or visit leader bank dot com. Minarets DOC equal housing lender stimulus number 449250. Objective credit approval leader bank a step ahead. Security suffered two securities America team members finreg SIPC an advisory services arbiters securities America advisors think carry ons from representatives Armstrong advisory group in the securities America companies are unaffiliated. 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 demanding catch up on every segment. You'll also find podcasts of all of our poll shows just punch of that listen button had financial exchange show does come. Eight then 28 year old Paul Ryan who won his first congressional election in 1998. With 57%. Of the vote for some reason I thought he would be thirty years old to serve in congress. That might be the senate. Them I don't know but that might be the senate the first person with the right answer though was Matt from Warner in New Hampshire and Matt takes home. 825. Dollar gas card to gulf. Additionally our trivia contest is brought to you today but the buccaneer beach and golf resort in saint Croix in the US Virgin Islands. Called Perry's favorite place the buccaneer mention his name and get it 250 dollar resort credit. On a stay of five nights or more you can enjoy three gorgeous beaches. Finding casual dining sightseeing and much more. Cultivate a book your trip. And don't forget to mention Berry Armstrong's name to get your 250 dollar resort credit on a minimum five night stay call 80255. 3881. That's 80255388. One we'll WOs is one of my favorite restaurants and we're joined by the owner of the obvious mr. Steve deep look bogeys on his way down to the Super Bowl. He joins us to talk about his event titled Steve. An ordinary outcome did when he had down. Kona tomorrow. Morning. There oh we. That big week this week that the case should be and really honored. You represent Boston and their ship out every belt city. Ships that goes we are bought in right right. We cook about 4000 people in the they give. Now. All over the country. Would. You know territory there it is six we depicted you know it for the six that should have been indisputable. It's pretty good sign in with Matt Light now. Stroke every. Pro growth. It's. An autograph and he attitude at the line and ago. Our. So what do you what he's serving but he had to be. Right well what we're door to door fresh Cabot Kelly I was that little pocket a little we are home its stock is. Border squash truffle butter and put black truffle on top we actually have. Real black truffles and Italy that she brought on top that. It's now out truffle yeah it's just incredible we did a flat should ever since Scottish huge hit. When is the event they get some early Saturday night Saturday. Yes Barry at the University of Houston and but I don't know what to order a raffle that I have this big route all. Which is a triple the white trying to get tickets for the being eager to fly down there a couple nights so now. He get tickets for the seat in its outcome be out transportation. I'll just go on playoff grapple dot com. And you wanted to it is revelatory it's a dollar ticket they'll and unknown amount. And there and you know he would would buy up Friday at 11 o'clock. Albany Albany and and on Saturday morning you'll be on a plane down to Houston. So we really don't go to playoff rattled not common relocation and all that money is gonna go out and Matt Light foundation. And the Boston food bank. I'm usually we get our listeners help out there are really important. Playoff who have given to us again the web site. Playoffs were apple dot com yeah it's gone reap what you credit card in there. It looked at sandbox toy box like a hundred dollars under Saddam wartime you do it the more chances he'll win but. That you know that tickets developer like. Crazy money in the air fare this is a very very. I think 20000 dollar package ready you know it's it's a good prices small car. Into that it would record you'll thank Allah UB without a wolf well Britain it's safe enough talent to get you know behind the scenes you know on the ballot is. My opinion that the audit committee party. I'm very fortunate to go to. If in doubt that that's what could you know lottery though the party's big Italy and had some pretty people but they don't have the food they don't have the open bar that the band. The transplant. You know the band Perry is playing a European. Sure what your goal and Andy he did you just buy ticket to the idea that the taste event. Sure you heard it. 800 dollar depicted there only. Ticket eased big bell they are clean and apply it didn't go on the apple on a great shot that you know. We really hope you can help us against you know we weren't out are pot and food bank in up you know we're excited about a week. Apple's been you know heavy Arctic Arctic you know obviously a lot of money ar see right through it. You've been desperate for ten dollars right hoped would be looked. Hey thank you love I'll mention it again a mansion and all weeklong busy they fly out on satellite I. Got that car. Yeah that we had a lot of people texting in thanking us for that information it all out war that's ever. I think it hurt it I knew right. Not everybody aboard Herbert that the thanks Steve. Are. Steve do you flip both from W stressed Friday he does this he does a lot of fundraising for charity college people don't realize just how charitable Steve is. It's playoff raffle. Dot com if you want to buy some tickets it sounds like ten bucks dipped ten. I'm looking at right now ten is the minimum there and it can go all the way up to 3000 if you wanna be religions not a violent but detected from my not here on Monday next week on the line. But he wanted to work Super Bowl Monday as well the fight if I had the chance to go hang out Stevie local for ten bucks. I'm there. Playoff raffle dot com thanks for tuning in to the financial exchange today. Very sharp and soccer all of us from our insurer match dot com studios.