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Full Show 5-26-17

May 26, 2017|

Full Show 5-26-17 by The Financial Exchange

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This is the financial exchange with the very Armstrong and chunks of you're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chunks. The Friday of Memorial Day weekend is usually at very slow trading day light volume day for stocks. One could expect a little more volatility today based on the gross domestic product. Information that we received at 8:30 AM. Eastern time tiger buddy it's very and Mike with you here today on a Friday before the holiday weekend and the GDP number came out the first estimate came out folks if you were called pretty bad number's with 7% growth. During the first quarter of 27. Team. And then we got revised data. Well what about now and a half ago. And Mike comes in at one point 2% that surprised virtually everybody nobody expected GDP number one point 2% for Q1. Now now they didn't it was working pretty disappointing from the numbers different figures but yeah it was revised up pretty substantially point 71 point two's pretty big move. You know it's still lower than expectations still lower than where the Fed would like it but probably further bolsters there. Fed's decision that they wanna try and probably move interest rates up come June yup and that would give us a read it somewhere around 1% of the Fed moves in June as we just right now that meeting. Is on June 13 and fourteenth the official announcement. Would come out on the fourteenth. One thing that could be rail it would be good jobs report that comes out a week I don't expected to everything I read about jobs and employment activities. Them the market's hot if you want to work today. There's plenty a worker rail grounded pennies you know what you wanna do right the there's a lot of openings in it you know I'm shocked at what I see. For young people complain about minimum wage I don't know if anybody that I seek posting jobs is well paying a lot more than minimum wage sure I mean the the on the minimum wage jobs millions of ups brain injury folks that. Maybe you do not have a day eat college or trade education and working in hotels or restaurants you're gonna be poignant and even if you work witness or restaurant and they can more than minimum wage these days then you probably are you know these automobile companies just can't get out of their own way. And you know we talked about Volkswagen and heck that story was talker and vote for memory but had to be. What a year and a half ago that Volkswagen got cut for admissions scandal yeah I think you or right on the money there. And then earlier this week we talked about Fiat Chrysler yeah and we admonished them at a 100000 cars via Chrysler did. That they cheated on the emissions released this is the allegation a boat and UPS Chrysler by the way steadfastly. Refusing there's and we did not cheat we did not cheat. Then yesterday. Scent of a gun of General Motors wasn't accused of the same darn thing. General Motors I'm trying to remember the oh here it is it's their Silverado. And Sierra Durham acts heavy duty. Trucks and these are often used by contractors and in construction and their big trucks that diesel. And they were sold between the years of 2011. And 2016 and by the way if you pull one of those trucks you just hit the lottery if you get the if you're gonna make some money now because if you'll one of those trucks and if the allegations are true if the allegations are true. And let's describe what the allegations are with it with. What happens is that you remember what you eat Dickey trucked in your car in once a month or once a year excuse me for inspection rector. And in the old days you know it before the you know advanced technology. You'd turn your car on in you'd use the lakers in. You know these days somehow they would measured the exhaust now. Get your card tested they plug in that they put it in any of that takes care out. But when they do that would General Motors and Volkswagen in via Croatia all figured out is. They said. When the plug in the car. Will actually operate our filters that keep the pollution. Right and when you do that you decrease the performance of the truck or in the vehicle that your testing. However what you're just test if you only turned the filters on when you're being inspected that's want to hear right so and it's five minutes while it's being it's back. The rest of the time though there spewing this terrible toxin in the air. And that would General Motors being accused of manipulating. The software. Within there. Within those trucks and I'm talking about again the Silverado and Sierra during Mac's. And this is. Actually a larger problem than what Volkswagen had Volkswagen had 600. Retirements over 700000 cars with trucks him. GM but they also mentioned the Chevy cruise that that's a topic. They hit this could be a big problem now US brewers have not accused him of anything yet this is a private attorney is firm on behalf of the fuel owners. Well on behalf of a number of dollars accusing you of this. Mean if it follows that trend of everybody else then this could be really mean you're talking about more vehicles in the US than there should be cruises wildly popular too you see those among. Tons of athletes to whether they're a bunch of those out there that's like the equivalent to a corolla I believe. It's a car that it. Lower and popular car in the got a diesel version and saying the same offer and that suing them over the Silverado and the C aired there Max filed suit in June last year over the addition bakers say the same things so. The avenue of where there's smoke there's fire. Well and the stock was down yesterday General Motors shares today. Are actually up for pennies so maybe here maybe they have had a defense for the accusations that. Right now I'm I'm look at the incidents in some ways filed. Shares in in General Motors which I do. Well yeah via a place where I did I failed to mention. It would bugs me about these stories is. You know lately the Volkswagen's I think they determined that there literally hundreds of executives within. Knew what it was doing and I think if this turns out to be true. You'd you'd find it you know Chrysler had a lot of executives are all GM executives. And I'll bet you dollars to donuts Tucker nobody goes to. Nobody you go to no one ever does go executive may be malevolent. I don't know but I guess that's a low level. Might my point is the did this. And if they're doing it you have to wonder if all the lakers do you know actually on the next we have accuse him at the theocracy energy they've gone after or wagon. For him who makes more trucks than Ford. And they next I don't know I I don't know the answer love well certainly by now. No Eagles want to buy homes they just have one slight problem and money. They're broke at an end. That not only your ability is broke they're not saving for down payments by the story actually quite remarkable nearly 7% of young people ages. Eighteen to 34 said he had saved less than a thousand dollars for dumping heavy favorites again. Yeah it up. Ray I'd. This article to. Even which is really which is I think true but it doesn't get into one of I think the bigger story here which is student loan debt I mean. How can you affording in my when you've got a 100000 dollars of student loans. Which I'm not saying is anyone's fault but the person took them out yell but I think that's probably playing a bigger role into not being able to afford a home I don't know. I'm now a document but it is the average student loan debt is like 3040. Okay and then the peso significant. As the the payment on it is because I'm helping a young lady with that go through that now in the payment on its 240 bucks a month. Right so. I student loan debt now my student loan debt admittedly was much less than him but I got you know what I get a second job and worked as a refereed. Hockey refereed and united ref 63 games in week in. I knocked out my student loan and come to think of I don't know many Maloney also have a second job currently. I bet that's the what are the degree I'm thinking of all my friends then I want out there and they'll (%expletive) and moan about the student long term yes. That's pretty accurate it is sitting around watching Netflix as a similar craft beer or could pass them right in eating their outlook out of toast. Eight complaining about the food locally and it. Eight thank you can get if I want you guys understand. You are allowed to have a second job there's no ball at gates' view having a second job I agree and end up to anyway. You wanna get it a good second job. Refereed basketball. Umpire baseball hockey. Get exercise to umpire Little League like who cares enough you get a lot of abuse the reason those Jorge de La who cares if they're the reason they pay well. Is a psychopath parents feeling if you're like a lunatic parents that will drive the signal arm. That was that's what I used to do if it is you know have fun with the but that is the the the stats are are. Somewhat disconcerting the vast majority some 80% of bullet said they. Eventually plan to buy a home but 72%. Of the primary obstacles that they can't afford it. Two. Here here's some additional first time homebuyers so this is really good news first time home buyers. Have accounted for 42%. Of buyers this year that's up from 38% 2015. And 31%. In it at the lowest point during the housing crisis in 2011 so. Despite the fact that they have student loan debt. They are managing to purchase homes I might question and if this is our poll question today. Hey did you help your child with their down payment on their house in Atlantic City did you help Utah did you loan the money did you give that great gift the money. For the down payment on the house because I think there's a lot of that going I was talking to some of my peers. Before I came on air and a lot of us have done 68680. Is or text number but our poll question can be answered by visiting our website financial exchange showed dot com. Did you help your child with the down payment on the house or Condo whatever it is that they need may have purchased first time. Will hairs from Bloomberg intelligence is gonna give us an oil update that is next for mark sure match dot com city. It's like us on FaceBook and follow us on Twitter that's TFV show. Breaking business news is always first right here on the financial exchange radio network. State and asset protection planning can be overwhelming where do you start and how do you know what type of trust is right for you and your family hi this is very Armstrong and with numerous types of -- available a state planning can certainly be confusing do you need to -- global or an irrevocable trust and what's the difference between the two should you consider a special needs trust our life insurance trust what are the tax implications of each type of trust pushing and -- an expert in elder law and estate planning has prepared a brand new guide called. 8668485699. That's 86684856990. Can also download it right now by logging on to legal exchange showed dot com learn how to reduce and potentially eliminate your state taxes and protect your assets from the nursing home all the same time call now for your free -- 8668485699. Or get it right now -- legal exchange show. Dot com. Many of us are always thinking about security retiring while leaving a good legacy not everyone can do this but we are fortunate to live in New England while technology improves and costs have come down solar incentives seem almost too good to be true if you talk to alternate energy clients they're thrilled with having no electric bill. Summer even driving their electric cars with free power from the sun I imagine three solar power creating our own clean renewable energy while leaving a better world for children and grandchildren solar is an ideal retirement plan you dig the state and federal tax credits now in your high income years and enjoy high returns for the next twenty to thirty years don't put off investigating solar the returns could be incredible call alternate energy right now at 3473085993. That's 3473085993. For a free experts solar analysis alternate energy has been serving new englanders for forty years called them today that 34730. Wait 5993. Or visit them online at 800 DC solar dot com. Barry are strong here and I'm joined by Jake too who's a vice president and leader banking were talking about the housing market the housing market as you know. You know short of supply. Long on demand. And Jake for first time homebuyers. What. What is your message to the young couple hours to somebody's out there looking to purchase their first time home. Yes so you know for first time home buyers what we are telling them are a couple things one be patient. Yes you know we we see a lot of first time homebuyers who are making five and fifteen off first and two for fighting house now and offers except it's extremely content okay. And so they have to temper their expectations. Oftentimes they're they're paying more than other half do. Paying more than the asking price and a yeah it is quite common right now in and in some cases are actually having to to research other towns and rooted in. Considered first because. You know it's very campaign can't afford their dream home exactly. I'm getting we're telling first time homebuyers to really be aware. Of all the mortgage products that are out there that are relevant to Tulsa but this leaders thirty yes so we're really excited about this product we just launched its cult leader thirty. And essentially what it is is that fixed rate loan. Where if you sign up to pay your mortgage automatically electronically and everybody does for the first year. You get to lower your interest repayments by one person that's very helpful offer because what it does is gives you break during that first twelve month period exactly so gives you little payment relief for your moving expenses that you still have the security of a fixed rate mortgage. When I bought. A hole. And when I've refinance my properties have always use leader bank near terrific thank you can call the people free at 8776917900. Or visit the at them online leader bank dot com to learn about their mortgage programs. 8776917900. Leader bank dot com. I like talking to a person face to face him a call 87769179. Country. Security suffered through securities America any member of finreg SIPC and advisory services arbiters securities America advisors think carry ons from representative Armstrong advisory group in the securities America companies are unaffiliated. It's our daily poll question for financial exchange showed Doug John. Vote your conscience. There are just vote go to financial exchange showed dot com and tell us the way. For the OPEC meeting. Concluded yesterday and they agreed to extend their production cuts joining us from Bloomberg intelligence. Is well pairs for full update on the OPEC meeting I will power you. Good thing I mean guys. Glad to was so what. What was the ultimate agreement yesterday coming out of OPEC. So OPEC members and a group of nonopec producers agreed yesterday to extend their aggregate production cut of about one point eight million barrels a day. This is through to march at the end of march 2018 and he's cuts represent about 2% of global supply. They were originally agreed to last November immerse scheduled to expire on June 30 this year a lion share the production cuts will be shouldered by the saudis that about half a million barrels a day. And Russia at about 300000 barrels a day. And and the market's reaction what went to employment. Man this is likely because the bond reports about a week ahead of the meeting that suggested and nine month extension would be likely end up. And and traders are also likely looking for a surprise me is this good either being deeper production cuts or new nonopec countries joining the production trim and neither of which materialize. Will housed via compliance bid. On the first round because they've only been in effect for about what five months. Yes can complain that remains one of the chief concerns of of OPEC. Specifically wind with a couple of countries. All over producing mean we Iraq which is what which has produced on nearly a 100000 barrels a day over what they said they would have. And Catholics then as well which. They're practically mint has. I'm behind the I'm collided we've. There mega project ramp up that I'd catch again and and then thank you so it did this will be an issue moving forward movement overall. Because of the saudis and the Russian to a shouldering. The lion's share of the production cuts come on the all the overall complaints has been OK so far. Is Saudi Arabia incentive to Jack up the price of oil prior to their IPO how much of an influence will that have on their IPO. Yeah well and undeniably failures looking for a higher oil prices ahead of the IPO and and that would that absolutely will play it play a role in the bond. One can keep in mind is that their case they are caught between a rock and a hard place here the saudis are indeed they attempt to reclaim market share by opening the taps. Significant pricing pressure will emerge so in lieu of chief market share the country is it looking for a price point at which you can. He can he support it is on its budget and then and beyond not a incentivized. The American Idol producers too much. No will there's about what 20/20 five countries involved in this OPEC as a result is some nonopec countries. That are participating in this cartel as well. Who has the ability outside of that cartel. Who has the ability to Jack up production and take that market share away and keep prices. You know in the forties or maybe even drive them back down into the anybody have the ability to significantly increase increased production. Yes and that is the that is the US and and did in the US will be looking at this decision yesterday and a mixed in extremely pleased. And the reason why is because two how they they read this that the saudis giving a market share to you at the US title oil producers. Mean the in the Permian Basin in the Permian Basin we've seen horizontal rig counts up 60% since the beginning of the year and a we've seen American oil production. Up nearly a million barrels a day from October last year and the American Idol producers will be looking at this decision will be extremely pleased. We're about to Canada and Mexico. Mexico. On on now I know I look a bit less then then you believe they have committed. I'm take a production. Except a lot of that is is thought to be natural declines. And and the bank and you'll have you up late played increased. And then there that's more humble oil sands production. You once again it it's the at the American Idol producers ended that there will be the be licking their lips and that this decision yesterday. What are how much money globally has been taken out of exploration and research I read. That's a stat on this I think it was it. It may have been trillion dollars that was taken out and I think is what about 300000 fewer people working in the industry. I would think at some point it look what are those numbers say how much money the attic capex. There is big big it's been devastating need the impact of of the fallen in oil prices permit Cupertino has been nothing short of enormous. And and I'm one trillion number is dead that you mentioned that's an aggregate number from 2016 to 20/20 and not from all upstream. Exploration and production so plan capital spending on on global Ian peaking at home by a by impelled to 60% year over year. On two of around 300 billion. A 2017 is is it looking like it'll be you flat with 2016. So it looks like we we have at the bottom we're seeing a lot of producers down but it. Cut costs significantly they fired a lot of a lot of people. And reduced headcount and as you mentioned. And and the armed and those that have been able to have emerged. I'm a much more efficient producers and M with the ability to bring new production on. Doesn't that tell you though that they eventually these low prices are unsustainable. It at some point we're gonna hit a wall I would think where you know the gear they're not pumping. And and you're gonna see shortages. On the one that no beat bush in. In the US beyond the U as I mentioned in. Production has this come up a million barrels a day in the last six months. I understand and I just don't know how long they can continue that yes we need take that much money out maybe I'm missing something here that. I don't know how to take a trillion out and still continue to pump. Well and and in India in the US and in a lot of it will book come from from cost efficiency turtle there are a lot of projects in development which were approved. I'm in it I don't price above 400 dollars a barrel and an that are just coming on stream right now a lot of the large integrated. Players are entering major operational growth phases. Just from that. So some production it is coming up. Absolutely window. Would you putting is a a target price on oil next year what are you protecting is the average price consumers are that you'll see for. WTI. Well will and we don't publish a specific number of I would I would. I would be expected that he would range bound between fifty to sixty dollars a barrel. And named because of going back to the saudis they wanna have they wanna hit this week this beat price on. Where they can where they can fund their budget on the album on incentivizing. The US idol producers too much spent. But once again. And as time goes on the the saudis have to be getting more more worried. Abound on the day the cost efficient he exhibited by. By the Americans and particularly in the Permian Basin. Very good well thank you very much for your time we appreciate it. That's will hairs from Bloomberg intelligence talking to us about oil by the way oil is up sixteen cents a barrel right now. At 4906. Coming up. We'll have trivia. And a market update for you from Wall Street that's next for march or match dot com speaking. Making your Smartphone even smarter. Come out. Right surgeons financial exchange show in nineteen Jordan who who played stores this is the financial exchange radio network. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of Wednesday with zero and leader banks all mine rent collection tool zero automatically deducts -- went and deposited into your account visit WWW -- he -- dot net to learn more we see rent your payments for each unit received regularly on the same day every month tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot meant to learn more or call 7816418691. If you work hard for the past twenty years and enjoy healthy savings account your and a solid position to enjoy later life hi this is very Armstrong saving money for your retirement is half the battle making sure you leave it to the right people is the other half beneficiary designations are not an afterthought while most people try not to think about what happens after they die it's important to set up beneficiaries properly to ensure you protect your wealth my firm the Armstrong advisory group has a new guide out this month to help you understand the process of beneficiary designations because believe it or not there can be complications called out to get your free guide understanding traditional higher -- beneficiary designations at 803934001. That's 803934001. Or you can download it right now from our website financial exchange showed dot com. Securities offered to securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated many of us are always thinking about securely retiring while leaving a good legacy not everyone can do this but we are fortunate to live in New England while technology improves and costs have come down solar incentives seem almost too good to be true if you talk to alternate energy clients they're thrilled with having no electric bill. Summer even driving their electric cars with free power from the sun imagine three solar power creating our own clean renewable energy while leaving a better world for children and grandchildren solar is an ideal retirement plan you dig the state and federal tax credits now when your high income years and enjoy high returns for the next twenty to thirty years don't put off investigating solar the returns could be incredible call alternate energy right now 3473085993. That's 3473085993. For a free experts solar analysis alternate energy has been serving new englanders for forty years called them today that 3473085993. Or visit them online at 800 DC solar -- come. It's not too late to get a great grade and home mortgage leader bank specializes in a wide variety of purchase 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 lead 776917. B 900 that's 8776917900. Or visit leader banks dot com member FDIC's equal housing lender and MLS number 449250. Subject to credit approval leader bank. A step ahead hi this is very Armstrong planning for later in life is a definite challenge there are a lot of factors that come into play especially when it comes to protecting your assets creating a trust can be an essential step to helping you through this process but what type of trust do you need given how many of them there are out there the law firm Cushing and Dolan are experts an elder law a state planning and asset protection and this month they've got a brand new guide called. 8668485699. That's 8668485699. You can also download it right now by logging on to legal exchange showed dot com don't leave your family's estate in assets at risk call now for this free guide demystify and trust 8668485699. That's 8668485699. Or get it right now by visiting legal exchange show dot com. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insure -- -- agency can prepare personalized plan that gets you the best coverage at the best price calling -- 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 a free consultation to make sure your property and family are safe and properly covered well so -- get all the discounts preferred customers lake you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry Mike Rabelo Plymouth rock and more -- relations for all types of insurance and continued time stress the money with just one phone call and one relationship. Called today 844 and 99 match or go online and ensure a match dot com. Time now for me. Wall Street watch a look at the market's performance so far today you could still buried in shock right here on the financial exchange radio network. That's five per market update when we got going on today Mike. Well markets today on pretty light volume are reasonably flat mixed right now the Dow was down about six points the S&P up a fraction of point. Asa not a whole lot of movement there you are seeing a little bit of a price rebound in oil saw that tanking by about 1% yesterday oil's up about thirty cents or point 6%. Picking up some of the pace that it lost yesterday. Two companies that reported earnings that we had big lots who. Beat on net income that. Dollar fifteen a share vs consensus estimates that nine cents a share not increase their earnings per share estimates but revenue slipped in comp sales are slipping. The stock in spite of you know revise their estimates and looking pretty good it's about flat for the day so. I'm curious as to there's some negative sentiment around the you know retailers in general or if it's it's pretty light volume and Nolan people who take a look at this morning. GameStop after best by reporting yesterday and beating pretty significantly GameStop also saw. A pretty good quarter in terms of revenue and earnings but they reiterated their forecast for the rest of the year. Which was pretty disappointed earnings per share of between 310340. With comp sales continuing downward so that stock is off pretty considerably this morning GameStop. Down about 7% to gain stuff that's just. Or you'd go to route to buy video games or consoles yeah consoles. Our most video games now on line and you'll need to street numbers varied all of that he's still the greatest a lot of me physically still need to die hard way. To play the game yeah I mean on an Xbox want our PS for you could just download it game pay sixty dollars view credit card over the Internet and download the game I've done that and I'm not a fan that I don't refer it's just that runs a little more choppy yet I felt like well and specified it takes a lot of band that takes up a lot of memory and if I had the physical copy in the future like retreated and towards a new game wearers of digital game you can't he's stuck with that forever so there's still reason to go to gage your ups store that. There but it decreasing reason. Mean at the technology gets better as Internet speeds get faster and that reason brick and order. View games companies yeah it's not. How their online sales. They're okayed by I think there's a lot of competitors out there you know you can go to best buy it yes except for GameStop has plus. What plus televisions plus everything else went well why wouldn't I just total Wal-Mart dot com or Amazon.com get a game while I go to GameStop you know all the price right. Yeah I mean Wal-Mart had a thirty dollar difference on a game I found one story I want with wall little gal there was a there was a Black Friday deal. Soria. And yet that's coming it's going to struggle must find somewhere to make a dance in the online yet they have to adapt market. At this point. Many of you have asked me to address the issue a bit cool I get emails I get text messages on that point. So I do it bird grudgingly I'm I'm going to talk about. Big point in talking about what I understand it could be and I look at it is a non government related it's. No Central Bank involved in it online currency. That is primarily used for illegal activities such as human trafficking prostitution. Drugs and gamble. In nine. Did describe it accurately they make but it's very popular it is very popular there's a lot of speculation on the currency. You're correct the people with the most bit points but there's no there's no evidence to read there's no we don't know no one knows exactly who owns the big coins and what Neil what is being used for but. The estimates and most people at that point you're correct are likely using it for some sort of illegal purposes for instance the huge pack that we so over the last. Repose will idea wanna cry one hour right up. Dave basically blackmailed Walesa's saying they were gonna hold your computer hostage in the past and it points so that is the type of activity that is often used for. Gone way up in value though yeah I mean you don't want to look at went from like 12100 to 2800 well. From the end of April of last year Pia is a 12100 bucks at this point. Pursuit the end of April of this year's 12100 bucks in May 25 when he. So yes you've seen huge surge in price. Very volatile currency if you call that but might. The that people ask you about all the time and it might. Clinic telling news. And I reiterate this is your you might as well. Standup. And say hi in the criminal Haiti if you open up what do these accounts it's impossible for me to believe that. The government can't watch us set up what he's going to count and if you set one up. The the only purpose for it is illegal activity Lisa steal it precisely I disagree. I I have heard of people speculating on the price the currency trading. Currency traders effectively going in and that's. A lot of people ask me about it it's purely specs right so they're not using it for commerce are just buying and selling C I wouldn't care. I it just. It would be my luck. Today you know I'd open up a bit going to count I have the FBI not in my don't think it is it is too they and I warn you about AM I guess he you know it's. If something you can do it's it's like walking into a bank. With a million dollars in cash you're gonna raise a red flag if you do you open up bitcoin account you are raising a red flag at least that's my impression of quick announcement on behalf of Cushing and Dolan during the month of may get making it guide available. It's called. The guide to demystify and trusts. Available free of charge by calling 8668485699. Who should call. Anybody that's learning and interested in learning more about trusts or maybe you establish what needle quite remember what it does. 866848569. And you can also download the guide by going to legal exchange showed dot com. Or again you can call for the guide to demystify trusts by dialing 8668485699. Not get much home equity line of credit. Activity these space day they're available view we have an advertiser that's it's has advertising when right now. But it does seem anywhere near the type of home equity line activity that we had 1215 years ago. Nodded off so it. The article is pointing out it's an article that was that polish in the Boston Globe that. Home equity home values have risen to the point where home equity now represents 58% of whom. People have a lot of equity that they could borrow on at home and for a number of reasons people are not. One to need the biggest reason seems to be psychological. People remember what it was like back you know seven I think it is literary agents to the it's definitely both but I did I talked to a lot of people that are just. That is off limits music I am not touch and home equity. I don't know it's going to be there tomorrow and I do know get myself caught like I did back in 2008. I think it's a lot psychological you know. To get a home equity loan today you have to have a credit score of seven ED. Not many people have a credit scores and any actions they now made that it's it's a that's. Pretty rarefied. Air if you're in the past 780 like oh score. Whereas in the old days the that you could do you can get away with one with so with 730 only 30% of consumers have like a score of 780. In the Bakes the the the rules now because of Dodd-Frank like. The rules regarding home equity line of credit as in terms of how the banks have to count them are much more stringent. Well I mean a home equity line is difficult but I'd be talking about getting a real mortgage now if you don't I mean I was working with somebody who had. Quite you know a large sum of money in investments that. Could be used to pay off mortgage and because the fact that they were. Retired and not had a current income stream coming in. No bank would approve them for a standard mortgage they had to go with the moment with. Yeah no choice but since coming up every Friday we're joined by Larry Kudlow from CNBC Larry is next from our insurer match dot com studios. The battle over the trump agenda continues to affect the markets and get the latest info on the sectors that are benefiting and those that aren't right here with a battery in shock on the financial exchange radio network. According to a recent study by the Investment Company Institute more Americans today are saving money for retirement through traditional higher raise an employer sponsored plans Titus is very Armstrong it's great to see that more of your saving for retirement and my message to you today is let me help you make sure you protected assigning a beneficiary to pastor assets onto after he died is an important part of elder life planning and my firm the Armstrong advisory group as a new guide out this month that can help you understand this process it may seem simple but they're can be complications call now to get your free guide understanding traditional hiring a beneficiary designations the phone number 803934001. That's 803934001. You can also download it right now from our website financial exchange show dot com. Security suffered through securities America incorporated member finreg SIPC and advisory services offered to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. 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 at the best price call insure a match at 84499. Match let's 84499. Match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for a 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 a match to compare multiple rates and carriers and 84499. Match let's 8449. B nine match insure a match works with the leading carriers in the industry -- bella Plymouth rock and more. Their license for all types of insurance and continued time stress the money with just one phone call and one relationship. Called today 84499. Match or go online and ensure a match dot com Barry Armstrong here and I'm. And by Jake too who's a vice president and leader bank and were talking about the housing market. The housing market as you know. You know short of supply. Long on demand. And Jake for first time homebuyers. What what is your message to the young couple hours to somebody's out there looking to purchase their first time home. Yes so you know for first time homebuyers would we are telling them are a couple things one. Be patient yes you know we we see a lot of first time homebuyers were making 51015. Offers two for fighting house now and offers except it's extremely. Okay. And so they have to temper their expectations. Oftentimes they're they're paying more than other half view. Paying more than the asking price and a now it is quite common right now in and in some cases are actually having active to research other towns and rooted in considered first because. You know it's very pad can't afford their dream home exactly. I'm getting we're telling first time homebuyers to really be aware. Of all the mortgage products that are out there that are relevant to Tulsa but this leaders thirty yes so we're really excited about this product we just launched its cult leader thirty. And essentially what it is is that fixed rate loan. Where if you sign up to pay your mortgage automatically electronically that everybody does for the first year. You get to lower your interest repayments by one person that's very. Helpful offer because what it does is gives you break during that first twelve month period exactly so gives you little payment relief for your moving expenses but you still have the security of a fixed rate mortgage. When I bought. A hole. And when I've refinance my properties have always used leader bank near terrific thank you can call them told free. At 8776917. B 900 or visit them online at leader bank dot com to learn about their mortgage programs. 8776917900. Leader bank dot com. I like talking to a person face to face him a call 87769179. Country. Barry Armstrong. Chunks autumn. Breaking business news every day right here on the financial exchange radio network. Well staples it is. In the news staples of course but he Massachusetts based company of Framingham. Massachusetts company to be specific. And the tried to merge with Office Depot few years ago. And now it sounds like they put themselves up for sale couple bidders for what we gathered like. Yes so this has been a this company that. Has been flirting with the idea of selling themselves are taking itself private for years companies that as. It was a lot of brick and mortar retailers have struggled staples has struggled big time in this stock you're call early two thousands trading over twenty bucks a share in its currently trading at less than half that. But most recently that turned down a bid from. That's cerberus in severance yes surpass. And these two companies after writes yeah servers then went sycamore. Yup so to govern looking after them. Cerberus. Came in with a with. Bid that was over their current market value of five point eight billion but apparently not good enough staples rebuffed the offer. And there's now just one company still in the running so well see it seems to be. A lot of news on this recently they Evian they're still profitable. The you don't have to sell the company the problem they have news. Is the brick and mortar store part of that. That company is not doing well and they are doing well with their online sales and they're in the contracts and it's it's a shrinking business yeah it's a shrinking business that has remained profitable as they continue to shrink witches. Their commendable it's a good job by management managing to be able. Remain profitable in spite of you know big headwinds. It's the yeah I'd sounds like something needs changed there. And then another company in the news is costs go of course and now you know retail stocks have been an area that I've been very hesitant to invested. It is simply because it's it's it's a sector that is subject to what I call the Amazon effect. How one company it seems to be doing okay is Costco yet Costco. In this region we have BJ's as well both companies seemed to be doing all right Costco that publicly traded one. You know where they have sun. I guess protection against the ups and counseling to brick and mortar retail is their membership fees and their membership fees they make other money or 72% of their profits. It's it's. Like the fact that Amazon doesn't actually make any money on there online sales and all that money ends up the house. But yet Costco came in with their comp sales were up 5%. Just really really strong quarter membership fees are route so seem to be doing pretty well they did raise their membership fees and instinctive. You know scary when away. What they do in these would be cases in different tiers of membership and you know if you're if you're a large consumer. You end up paying more for your membership he might be over hundred dollars in term member for beaches. But then you get a rebate. And on top of the the regular discounts that are vacant what did you say they did for same store sales comp sales were up 5% that's a lot yeah you know it think about that that's. You know any retailer would kill. First same store sales. To be up 5%. That's that's enormous. That there are seeing that kind of growth yet tonight rule from retail as it is. Especially cautious of anyone as locations such. Mean think it's going to be rules them to just be extra cautious with that scenario yet uses less less less and less reason where's. You know with with a historic like your BJ's here Costco rated very similar. Stores. The that that's picked up you know wouldn't whatever disease it's it's hard to walk down an aisle without find something that you might need even if you don't need and they keep sending us for a Home Depot Lowe's and picking up more stuff that I. Thought I needed walked in there right. So Costco same store sales up and their stock price today. Costco stock price of three dollars and 52 cents or 242. Points or 1% trading 178 dollars. There are rumors afoot that BJ's Google public I don't know food aid there's any validity to but I have heard rumors. That they'll be considered a program that would deprive it. That Tennessee about five years ago he they used to be a publicly traded company BJ's and they went private. And their team primed by private equity company generally when they do that they do it to. And it takes terrible bad stuff within a company get rid of the debt that's trim expenses. And then nailed reissues a public company either but there were rumors if you're kolbe BJ's. Potentially being acquired by Amazon those seem to die down you are writers I've taken private in 2011 by Leonard green and partners NC BS capital CDC capital partners you know do you remember how much liquidity is. Small money is like a child who's changes. US court finds UPS. 247. Million dollars over illegal cigarette shipments will they do would be fine 247 this visit us. Big Five to basically what what UPS was doing is they're taking shipments of untaxed cartons of cigarettes to be placed and New York you know. Chopping you know shopping rest shopping malls and corner stores and just basically not collecting taxes on them either basically coming in from native American reservation Indian reservations where they're not tax on cigarettes and shipping them directly into New York so. UPS was doing this. In the must've been accused of knowing that there should be shipping that effectively they knew that there are shipping contraband they didn't properly inspecting goods and therefore they get slapped with a big fine. Basically gone yeah these. The amounts of cartons of cigarettes not intact but he UPS is a little bit angry business and you know at most we made a million dollars on on this issue of not catching this and we're being from 247 million. Which is probably fair argument although I would. Counter that with if you slap you PS of one million dollar fine it's nice to stop them from doing it. You look at there it's not doesn't seem to be impacting their stock price it'll mean UPS is trading at a 105 dollars and ninety cents. B I mean that the government must meet the case. That UPS should have known that there worshipping god yeah I think this is more days insinuation that they are criminally liable. You know take him. Profit 247. Million dollar but nobody's going to jail. I've known in a notice of what art crime is the best thing to commit crime commit white collar crime because you know go to jail for. He you have to give disgorge yourself of some of the profits the order for anybody who gets fired. You know get on a story that definitely did they. Who who knew how far opted to go and do they know. They were shipping contraband illegal nets from making people angry and fired UPS. I like to do it stocks doing just to put a perspective on market capitalization. 91 billion dollar company and get them very. Large and substantial accidents and 247 now and it's been dropped about it nullified at the prior art you know get it reduced to little bed. The new commissioner. Of the Food and Drug Administration plans a multi pass and it effort to restrain high prescription drug prices. Centered. On speeding cheaper generic medicines on to the US market I think this could end up being a big mistake. Do you see this makes me pretty I'm very interest now you're right the FDA's chief goal. Chief objective is to just make sure everything is safe hands you know able to be used by consumers. If they're successful in this and they can do it. I mean that could dramatically lowered her price it could but here's the I think would do what they're talking about doing is say you discover. He blockbuster. Drug and you've spent. Hundred million dollars working on that drug to two discovered. And you need to sell they need need to sell it for caught a thousand dollars a pill in order to make it to recoup your profits there to recruit your investment. With the FDA wants to do is allow a generic company to come and steal your research. And make that drug. And then why. Like why if I'm if the FDA's gonna do that why would I invest 100 million dollars to discover a lifesaving drug I agree and I don't think it's gonna go that far but what they're talking about doing is there instances where base of these big drug companies are hiding behind existing FDA rules around safety and saying okay we don't still have a patent on this drug. The patent is done with our you know our tenure patent is over and now this drug should be able to use but we're gonna hide behind some specific rules that the FDA as an issue. Prevents you from partners in the same. It's the Friday of Memorial Day weekend the markets are open yes and he's down a fraction Dow's down thirteen but the NASDAQ. Is in positive territory the NASDAQ is up three points and cruised up 33 cents a barrel at 4923. We're broadcasting from our insurer match dot com three. If you work hard for the past twenty years and enjoy a healthy savings account you're in a solid position to enjoy later life hi this is very Armstrong saving money for your retirement is half the battle making sure you leave it to the right people is the other half beneficiary designations are not an afterthought while most people try not to think about what happens after they die it's important to set up beneficiaries properly to ensure you protect your wealth my firm the Armstrong advisory group has a new guide out this month to help you understand the process of beneficiary designations because believe it or not there can be complications called out to get your free guide understanding traditional higher raid beneficiary designations at 803934001. That's 803934001. Or you can download it right now from our website financial exchange showed dot com. Security suffered two securities America incorporated member finreg SIPC and advisory services offered to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities American companies are unaffiliated it's. Not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917900. Or visit leader bank dot com. Emirates the SE equal housing lender and the lowest number 449250. Subject to credit approval leader bank a step ahead your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by your bank's local underwriting processing teams for additional information call 8776917. To 900 that's 8776917900. Or visit leader bank dot com. Member of the SE equal housing lender stimulus number 449250. Civic credit approval leader bank a step ahead you're financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insure a match agency can prepare personalized plan that gets you the best coverage of 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 who 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 let's 8449. B nine match insure a match works with the leading carriers in the industry -- bella Plymouth rock and more. Their license for all types of insurance and continued time stress the money we've just one phone call and one relationship. Called today paid for four of my. Regarding IRA beneficiaries. Truck I assume. That we should all be naming our spouse as the primary beneficiary of our individual retirement accounts and 41 case yet generally that's what we recommend and in the case of 401 k.s are actually required to name your spouse. As the beneficiary there are so in general spouses are gonna typically be the first person that you name as a beneficiary on any retirement plan. It simply makes things the cleanest and easiest approach of treated happens to how has treated chuck if your wife inherits your IRA. Did she get to start taking the money out right away how how's that investment treated once she receives notice is why we say it's the easiest and cleanest because of the spouse dies and other spouse inherits an IRA or 41 K they don't have to start taking any distributions right away. Unless they're already over the age where they have to take them at seventy and have to begin right. And so you named your spouses and hiring duty typically name is a subsequent her successor Ben picture lot of times what you do then you name one of the kids or both or all three however many kids you have and they'll be named as the contingent beneficiary. In the event that you're spouses pre deceased you so it's spouse as the primary and then any children as the contingent. Very get. Folks we would suggest that you call in and learn about understanding traditional higher rate beneficiary designations. It's important to know who should be the beneficiary of your individual retirement account. Call 803934001. Or download the guide financial exchange showed dot com it's a total freefall call 800. 3934001. Or as I said I need to exchange showed dot com 22. He suffered the securities America incorporated member finreg SIPC and advisory services offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Whether you're celebrating a milestone were 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 of 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. -- back a step -- estate and asset protection planning can be overwhelming where do you start and how do you know what type of trust is -- for you and your family hi this is very Armstrong and with numerous types of -- available a state planning can certainly be confusing do you need to -- -- -- an irrevocable trust and what's the difference between the -- should you consider a special -- trust her life insurance trust what are the tax implications of each type of trust pushing and -- an expert in elder law and state planning has prepared a brand new guide called. 8668485699. That's 86684856990. Can also download it right now by logging -- to legal exchange showed dot com learn how to reduce and potentially eliminate your state taxes and protect your assets from the nursing -- all the same time call now for your free -- 8668485699. Or get it right now and legal exchange -- dot com. Your dream home is within reach with a Jumbo mortgage loan from leader bank the Jumbo loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinancing is all originations are managed by a leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 44950. Subject current approval leader bank a step ahead. Many of you listening today are either retired or planning for retirement investing in the market can be as safe strategy to develop growing assets and income to help keep ahead of inflation but here's another investment you can make that may also help you achieve your retirement goals if you invest in solar energy you may see double digit returns and growth call alternate energy today for a free solar analysis for your home or business at 347308599. Entry. A well cited solar system churns out monthly dividends and reduced electric the best part is that these solar dividends aren't taxable solar increases the value of your property and buyers find the properties would lower expenses are more valuable if you like cash dividend concept of solar call the experts with more than four decades of experience call alternate energy 347308599. Tree and discover how solar dividends work that's 3473085993. Or visit them all mine that 800 DC solar dot com that's 800 DC solar dot com. This is the financial exchange with Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day your city your way. Stay informed and today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and sharks. You know the markets around. People were down overnight in oil prices were down yesterday that led the stock markets globally. To be down while they damn well they thought that OPEC would do more to. Cut production and try to inflate the price of boy old they are disappointed in OPEC's action and as a result he had a lot of global market sell off. In our markets were down in premarket trading until about 830. When we got to revised GDP number hi everybody it's very and Mike with you here. On a Friday before Memorial Day weekend. And that GDP number Michael seemed to have a big impact on the futures Dow futures are down heck I don't know forty points fifty points. It GDP comes in and surprises everybody to the upside. Yeah I mean a little but the good news politics to move move this market movement these days. And nothing it's not on the socks off market about flat but. I'll take it. I'll take it we have a poll question today and it has to do with the housing sector and it's the only week we talk about. You know. The housing pretty regulated it's the one of the major underpinnings. Of the US economy without a strong housing market it's pretty tough to have strong economy. Right now we have an exceedingly. Strong housing market in the land deals seem to be having a difficult time breaking into the market. Our question news. Did you help your child with they're down payment on the house that's pretty straightforward question you know leave if you've got adult children. The help when they are going to buy their first time home. I believe participate in our poll go to financial exchange showed up on the poles been up for about an hour Tucker what do the results so far. Yeah results so far it's actually 5050 as of this moment. There's an earlier it was it was in favor of yeses are Napoli was like 56%. And now it's shifted right back right down the middle 5050. You know. They usually it's it's tough. Bye in the first time all of you know see there are programs us talking to a valid Jeff chug booze big role state brokered yesterday. And he said you know Berry got to remember there are still these FHA programs region for the money with three and a half percent down as a down payment. The problems Michael is that you end up paying a lot of extra. You pay a higher rate of interest on the field extra insurance yet pay extra insurance. And there's caps can only borrow I think it's about 460000. Dollars and when they came. I mean if you take a look I think the median home price in Massachusetts right now. 371000. Imagine go to and Connecticut Rhode Island. New Hampshire you might be slightly less than that but not since I knew it was New England is expensive and if you're gonna put down the full 20% that you know has been standard since since the financial crisis without that extra half that we talked about him that's a substantial amount of money you're talking over 7000 net hard to save them much immunity if it's difficult to say that much when you're in your twenties that. You know lead people update you have to make sacrifices. Did you get around people have for generations so it's it's possible but it's. Specially in the northeast pretty pretty hefty amount of money for 20% down payment to did you help your child with the down payment on their house sic the website address. Is financial exchange showed dot com if he can't participate. The trump administration considers moving student loans from the Education Department to the Treasury Department I like the idea he makes an awful lot of sense. What are your thoughts so I'm mixed on it so first up. I agree because a large part of the student loan applications have to do tax returns bright yet to submit your famous tax returns when you go to apply for federal loans. Treasury Department party controls so hopefully would speed up that process. My question is what experience does the treasury have in collecting and renegotiating loans I would think he'd have a lot better experience that in the meat out to a shared experience with. The we we've had employees. That have had large outstanding student loans that. Were they simply refuse to pay. They had the ability to pay the descent I'm not pain. On my student loans. And the Department of Education did nothing. To garnish wages from from those in place true end and I think part of the reason was is they didn't have. The the authority. With you're underwriting those lines little through the department treasury which oversees the IRS. I think you'd have much better collection of did the default student loans yeah I keep it if you could hold back tax returns. Where you can they the are holding back tax returns now but only after an extended period time yet but the to garnish wage season and that's. That's if you wanna really collect. Student loans that are in default start tarnishing their wages disease who knows better where you're making money in the department treasure and let your working completely off the grid right you're working for cash. Which is harder harder to do today. Both people are either working is independent contractors say through a company like Hoover. Right or they're employed mow the vast majority of people are employed working for somebody else true I mean if they could garnish wages I don't know. I don't know how to Treasury Department have a whole lot more success doing that and partly it's creation would maybe maybe it would be the iris. That he did it they'd could they let me ask you group if you want to find out you wanna see an organization that's pretty good collecting money tucked the Paris maybe. They know how to collect money pretty short staffed right now. They are but they they know where you're working in the -- Internal Revenue Service as well. Eight you know who else is pretty muted collecting. Guard that's divorce attorneys. You know CDC. You'll see you'll see seven noodles. Child support. Outside the the error on that part that from them is the the game they collect these they know where your work in in the collect the money. This is one area. Where I think this makes a lot of sense moving the student loans it's still the the limits in the interest rate back in Albee to decide on. But it right now. It's not working the system whatever it is we have today. Is failing miserably via I agree that arbiter might be a better place for I'd think they've got a lot of work to do they get it's they detest re read that part they tested this out 201526. Team and the group in the trade department failed miserably and control group in terms of improving collections and improving restructuring failed on both. Still improvements need to be made it could be a better place or might be might be. So who are the highest paid CEOs in New England fair question we we all live in New England somewhere. In the state of Perot in the state of Connecticut the start with Connecticut. Tom Rutledge who's the CEO of Charter Communications. Last year not cool ninety million dollars penis. Not a bad year. In the state of me is Jonathan Ayers he's the CEO of IDEXX Laboratories five point nine million dollars. In Massachusetts. It's Jeffrey Immelt CEO of General Electric he earned eighteen million dollars last year. In New Hampshire it's Tim McGrath. From PC connection Ernie cool three point nine million dollars. And in Rhode Island it's wearing armor low he's the CEO of CDS healthy knock down a cool eighteen point four million dollars. Confined Vermont confederate month analysts don't want to be on the as Vermont not exist that they got Utley CEO of a public beta release of studios that are buried in they need and I just I I I checked the list like to a three times and I said. You know this and I missed it they just couldn't find here's what I offense present the highest paid CEO in Connecticut. Charter Communications is that you mention 98 million the highest paid CEO of New York Les Moonves pulled them 6694. Louis Portland while prize Connecticut beat out new York and surprised analysts and survived 66. Puerto you're yea you know that you would think you'd be one of the big banks that that's our goal it's you know like maybe not after after nine they're under so much scrutiny about CEO compensation that now that's prize that they -- For the pretty well you look at today. You know there Jamie diamond in the right when he thirty million fortunately that's a bomb. He's the effect. I don't know I I I if I if I can you know we know how much you make right. If I if I budgeted that I could I could get by on. 29. You know it Mary Barr from my General Motors make it 22 million dollars a year. She's mission off alarms. Yeah maybe article. In the they just pitched in to see that Brian going to and they have him listed at North Carolina. At fifteen million but I think he spends a lot of time in Boston he's from ma Wellesley masters it went to Brown University. He took the job as CEO bank Lemerre who would nobody else wanted. Unity that literally they interviewed eat guys to beat UC EO of Bank of America and they'll turn it down and Brian was there he is chief legal counsel. At Bank of America he's working out of reliability he dates back this week that. India. Fears and he took the job and and you know it's I think he he's done. I I like them as CEO the east and a darn good job. When we come back where to tell you what the safest cars on the road are in we'll have a tricky question for you. From our insurer matched up constant. Stronger it's not a bringing you the best in business and financial news every day this is the financial exchange radio network. If you're real estate or property management company Unita banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and real estate space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitize paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as ECH payments mobile banking remote check scanners and it's -- to see rent payment platform leader bank has a team of business bankers there on call to help you and they'll come to your place of business and make it as easy as possible the number to call is 8776917900. That's 8776917. B 900 find out why many of greater Boston's premier property management and real estate companies -- leader bank as their banking partner call 8776917900. Or email BDO at liter bag dot com for more information member FDIC equal housing lender. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insurer imagine agency can prepare personalized plan that gets you the best coverage at the best price -- -- match at 84499. Match let's 84499. Match many of our listeners don't know home and one or two cars that I described zero 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 Karl insure a match to compare multiple raids in carriers at 844 and 99 match let's date for 499. Match insure a match works with the leading carriers in the industry Mike Rabelo Plymouth rock and more their license for all types of insurance and continued time stress the money we've just one phone call and one relationship. Called today paid for four of 99 match or go online and ensure a managed dive. On many of us are always thinking about securely retiring while leaving a good legacy not everyone can do this but we are fortunate to live in New England what technology improves and costs and come down solar incentives seem almost too good to be true yet if you talk to alternative energy clients they're thrilled with having no electric bill summary been driving their electric cars with three power from the sun imagine pretty solar power creating our own clean renewable energy while leaving a better world for our children and grandchildren solar is an ideal retirement plan you think the state and federal tax income credits now when your high income years then enjoy high returns for the next twenty to thirty years don't put off investigating solar. The returns could be incredible Hulk alternate energy right now at 8559120115. That's 8559120115. For a free expert solar analysis alternate energy has been serving new englanders for forty years called in today at 8559120115. Or visit them online at 800 DC solar dot com. According to a recent study by the Investment Company Institute more Americans today are saving money for retirement through traditional retirees and employer sponsored plans Titus is very Armstrong it's great to see more of your saving for retirement and my message to you today is let me help you make sure you protected assigning a beneficiary to pass your assets onto after he died is an important part of elder life planning and my firm the Armstrong advisory group as a new guide out this month that can help you understand this process it may seem simple but they're can be complications call now to get your free guide understanding traditional higher -- beneficiary designations the phone number 803934001. That's 803934. Zeros you're one you can also download it right now from our website financial exchange show dot. Come securities offered to securities America incorporated member finreg SIPC and advisory services offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. The financial exchanges live on FaceBook so make sure like your page and watched you guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. Are you looking for home equity line of credit. Leader bank is now offering a fixed annual percentage rate of two point 99%. For the first six months. Then primary for the life of the credit line. And no closing cost take advantage of this great deal right now by calling. 8776917900. That's 877. 6917900. Or you can visit them on line it leader bank dot com rates are variable and may change at any time. An MLS number 449250. Member FDIC. On today's show we're testing your knowledge about all things related to Memorial Day. What was the original name of Memorial Day. Now mark text number is 68680. That's how you participate in the poll he text us your answer. What was the original name of Memorial Day first listener with the correct answer wins a 25 dollar gas card. What are Michael the safest cars on the road to big cars. Makes a hat they did a study looking at which cars hadn't had any deaths in the last four years and four years last four years no deaths. Yeah they found eleven cars the Toyota can't comb a double cab the Mazda CX nine Audi a six Jeep Cherokee. BMW 535. And ex guy. Let's RX Lexus CT and the Mercedes-Benz. And the huge it's a lot of suvs and trucks via big suvs I mean. Logically think about this you get a car crash with. Well a guy traction evil and you got toys Tacoma. The chances again it's on the living a lot better when you think there was be more chance in the truck flipping over or suvs flipping over based on driver error. True now they're more apt to do that I find that a little surprised. Maybe a flip over that they don't die AME flipping over. Verses that made it feel like. But I had no idea and I received what what is the most cause of death in putting technology yeah. I mean. If urinate car that weighs half of what the pressure interaction with makes it and physics tell me if it hasn't made not only that. Even if they. He should've seen these cars totaled just OP poll the a small. Car just folds up like an accordion in his these nothing to these things are made out of plastic. Now. Ironically. The driver's cab is pretty safe Munich where the driver sitting if you was remarkably intact but. The more I hope it's not ironic hope that by ten yeah. The yeah you know it does a lot of damage to the driver when you have those accidents in the air bag we actually in him that keeps you alive but breaks your face. Well your ribs. That's when a lot of yet he can break your ribs in the save your life my my father they told me when I first are driving Howard. I have my hand over the top of the wheel instead don't do that because of beacon and accept the airbag will go off. In your head your fate you're handle pitcher in the face temperature notes there because of the air back no decision he hears about that all the time your broken wrists all the time yeah I'm. Burnett's representatives yeah exactly. We asked a question did you help your child with their down payment on their house and no number view being answered on our. Text line that we'd prefer if you went to financial exchange showed dot com 45%. And help you have helped here child with the down payment on the house 55% say no they have not. Pretty soon. Electric cars will cost less than gasoline cars how long. Don't buy it. Flat out don't don't buy it. They're saying as soon as 20/20 five years rattled by this whole studies predicated on the fact that oil continues up. You know we're considerably. The price of gasoline just continues to increase in the electric cars become cheaper. Not by and there. The all licenses the you know replicating a study on the idea that you would might have hunt or a 150 dollar a a barrel oil and there for four dollars gas I just adults who that you're gonna have that again what makes you think energy prices stay involved. And more and more shift towards renewables and less demand for oil. You know I mean the growth we're still growing our consumption of bird well we are headed monitoring much lower but nonetheless about the study saying is that. Because of a number of factors largely the decreasing cost of batteries of the next. Ten to twenty years that may be these electric vehicles could cost less to own and operate and purchase. Than the current cost of a gasoline powered vehicle which would be. The maintenance costs on an electric car a lot less seasonal service work to be down you get your oil changed like I I drive one and it is no reason to get your royalty fees are using your gas motor. An electric engines like if you look at the number of moving parts. In an electric car as compared to an internal combustion engine yeah it's remarkable now the bill one of the reasons the dealers still like electric cars as usual maintenance. Yeah you made a lot of money on those days they can't make any money in the back end so leave me. You know he talked to a friend of mine owns a dozen automobile dealerships in Connecticut. And he would you know he's there they're not real enthusiastic about electric cars. Yeah and and that's that's part of the reasons no no maintenance to be done on the I think Michael one of the things you may be forgetting those there's a big shift towards fighting pollution and specially in places like India and China. And if you're. Get away from using diesel vehicles in gasoline powered engines. I think that is part of the motivation particularly in China India China and in all over Asia. They're saying hey that China next year. 8%. Of the cars to be sold next year are going to be electric. And China already has the largest electric vehicle fleet the world they they got more electric cars on the road in China that we do here yeah I've China comes up with some pretty stringent controls around how much emissions can come out. In in aggregate back yard drive a lot more demand for these elections I mean you need. Massive battery manufacturing to get this press that unit Mercedes-Benz is getting into it in the early two big players are. Panasonic slash Tesla because that's a partnership and Mercedes-Benz. In dime in Germany they're adding into a pretty big way. We'll see if they're successful via Kostis is prohibited me if you look at your battery technologies. An area that we have not improved. A whole lot of the last few decades and it's suited making some progress but it's not an easy technologies to improve. The they've invested a lot of money and improving it they just haven't had the results yet and that's better way than those results come. Lift courts Hoover high end clientele with black car service over. Pretty much owned this market. Yeah I mean this could be a real opportunity for list you know Hoover's been in the news nationally stories get done about it just about every day they'd you know vision not today. No negative stories on number two in knowing yesterday to let us know we have when you only get. In this video and just their executive team seems to be just stepping on themselves left and right there again. Ensued and you know lift sees an opportunity here I'm lift is traditionally not had that. You hire and black car service and there trying to step in here and saying he had lunch and delete your bluegrass because you know cup with company. Take care who. The winner will be successful via could be an opportunity I don't know how much black car use there would be. Broad company. The only reason that I've ever used it is because I would lose I woke up late for a flight. And there's no regular car around so I had to buy a card here for all we keep telling your crap if if it yeah Nazis view that black car cost more than just a great group no idea. Like considerably more and fifty dollars more in his forehand and as the confirm ride the airport and he always better prepared enough so I've had to use a black card airport which cost me. Summoned up in money you know but I was otherwise and it's international flashed supplies where he didn't have much choice in the millions. Instance like that. Markets are opened the Dow is down fifteen points when we come back we're gonna talk about a lesson that OPEC could learn from the soybean farmers. And we'll have the answer to our trivia question from our insurer matched up studios. You've got barrier island strong. Financial exchange on the financial exchange radio network. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're Jumbo loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinance this all originations are managed by leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visibly your bank dot com member FDIC equal housing lender and MLS number four corner Dubai zero subject current approval leader bank a step ahead. According to a recent study by the Investment Company Institute more Americans today are saving money for retirement through traditional higher raise an employer sponsored plans Titus is very Armstrong it's great to see that more of your saving for retirement and my message to you today is let me help you make sure you protected assigning a beneficiary to pass your assets on two after he died is an important part of elder life planning and my firm the Armstrong advisory group as a new guide out this month that can help you understand this process it may seem simple but there can be complications call now to get your free guide understanding traditional hiring a beneficiary designations the phone number 803934001. That's 803934001. You can also download it right now from our website financial exchange show dot com it's. -- suffered -- securities America incorporated member -- SIPC and advisory services -- with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated many of -- are always thinking about securely retiring while leaving a good legacy not everyone can do this but we are fortunate to live in New England what technology improves and costs have come down solar incentives seem almost too good to be -- yet if you talk to alternative energy clients they're thrilled with having no electric bill -- been driving their electric cars with free power from the -- imagine -- solar power creating our -- clean renewable energy while -- a better world for our children and grandchildren solar is an ideal retirement -- you think the state and federal tax income credits now when your high -- years and enjoy -- returns for the next twenty to thirty years don't put off investigating -- the returns could be incredible call alternate energy right now at 8559120115. -- 8559120115. For a free -- solar analysis alternate energy has been -- new -- for forty years called -- today at 8559120115. Or visit them online at 800 DC solar dot com. Searching for the best savings rate leader bank Zoubek count as a two point 058. 1% back on debit 10% back it featured businesses and reimbursements for other bank's ATM fees to learn more about Zuma accounts call 8776917900. Or visit leader bank dot com minimum deposit to open and an annual percentage yield ten dollars two point 03% interest rate mass residents only he's may reduce earnings rate subject to change without notice member FDIC leader bank. A step ahead hi this is very Armstrong planning for later in life is a definite challenge there -- a lot of factors that come into play especially when it comes to protecting your assets creating a trust can be an essential step to helping you through this process but what type of trust do you need given how many of them there are out there the law -- -- and Dolan are experts an elder law a state planning and asset protection and this month they've got a brand new guide called. 8668485699. That's 8668485699. You can also download it right now by logging -- to legal exchange -- dot com don't leave your family's estate in assets at -- -- now -- this free -- 8668485699. That's 8668485699. Or get it right now by visiting legal exchange show dot com it's not too late to get a great rate on hold mortgage -- bank specializes in a wide variety of purchases and refinance -- 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 -- -- -- dot com. Member FDIC equal housing lender and the lowest number 449250. Subject to credit approval leader bank a step ahead your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by your bank's local underwriting processing teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com member of the SE equal housing lender and Miller is number 449250. Subject to credit approval leader bank a step ahead. Barry and judge have the latest every day beginning at ten only here on the financial exchange radio network. It was not always called Memorial Day he used to be known Michael as decoration day. Yep and our winner was sacked Gary from Nash be taking home a bat mobile gift card or trivia contest has brought to you. By ensure match looking to update your insurance policies and one called the term natural beauty multiple quotes from several of the top carriers. And we'll help you make the right decision for your insurance needs polish her match today at 84499. Match that's 844. 99 match or visit them on minded and short match dot com. You know Memorial Day. Was first celebrated. In observed on May fifth at 1866. In Waterloo. New York just a little bit more. Well they're ago Memorial Day trivia for Tucker that phone yesterday all my nose like Mondale. If we only just for the most of the long weekend and they socialism was a little better selena's. Here adolescent OPEC could learn from soybean farmers you know we've talked a lot about OPEC Michael and what they're trying to do with production cuts the big question is is anybody going to step the united RD. Conceding market share. That never. I don't know if you take if you this is the lesson that's being drawn out in in this article is that back to Hillary administration. We had a he. Basically an embargo on US soybean producers they were not there or not exporting soybeans and you know countries that want soybeans Japan's biggest importers those products. Went around and look somewhere else to go and they go for his dollars and these days Brazil is producing justice may soybeans the US. And we've permanent last summer picture that that marketshare is gone. And it will be it would be very difficult for the rest went back and that seems to be what could be happening with. The saudis and OPEC countries by trying to. It departs yeah I mean it's not a one for one comparison there wasn't any certain department refusing to export the US but. Hundred dollars is pretty pricey for oil a few years ago and that'll have a lot of US producers to get in and once once those companies are entrenched in our. Doing business and media perspective and the infrastructure says and if for a lot of money into it and frankly the the US government doesn't have any interest in losing that that knew who. Job market that's been created here so I think it's going to be very very difficult for the saudis and the rest of OPEC to win that marketshare back. In less they're willing to you know suffer prolonged depressed oil prices which it doesn't appear they're willing to they've done in the past. They just beat the problem is they've gotten used to this expensive and they think they're reticent to give up that price you know I wonders Sue Bird. We're talking about that public offerings they're doing. With the June of next year. How low would oil prices have to look at it for them to call right. Good question what you think back in here still remember back in the nineties. Bike Gaspar. Bucket cheapest price ever remember seeing was nine cents a armament. You are absolutely I don't know and that's that's and things like Spanish Somalia via the that was the price for a long time yet it was keeping its owner everybody I I used to programs suburban it didn't matter in those but again who cared it is. News news much cheaper I paid 2:51 this morning actually which is on the price yours oh wait DC this weekend especially if it's don't know. If I'm going on the cape this weekend's take notes latte light take notes and also do yourself a favor Phil hill a dead now because of it daddy get to Chatham and immunity. Four bucks a gallon. Funny how that happens interest in Memorial Day Saturday morning you know prices go up then on Tuesday morning back to fifth yes it. A surprise. Quick announcement on behalf of Armstrong advisories don't forget that during the month of may which is also over. You can receive a free guide called understanding traditional hiring a beneficiary designations. They would you know we we save hard. We put money away into our diaries and our fallen Kaczur TSA is there for a three b.s there for 57 plants are all just an acronym for hire me. But never do we ever have a conversation will their spouses about who should via beneficiaries of those accounts be well now's the time to do it. And though they need to do before you had that conversation is to read our guide and understanding traditional diary beneficiary designations. We do please call 803934001. If you want it right now. Go to the website financial exchange showed dot com you can download the guide at that website and mutual exchange of doc now. Or Peter and have a conversation with the human being call 800. 393. 4001. Securities offered to securities America incorporated member finreg SIPC and advisory services offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Coal mines are re imagined. As a new power source on this fast did you did you read the mechanics of this I did and let's see if we can explain it profits are costs that they are well. I think it's it's actually. We wish you would do is you take an old cold and and you filled water. Yes and that's the general idea behind it is the same idea behind water towers. Yeah okay so you're you're pushing water up to a water tower so that when you have to use it. Gravity will just take its people's homes is its higher ups leaders like gravity and water tower right but it water tower will not creating it will not trade area that electricity so the idea here is. A lot of power grids are are going renewable and they're using wind and solar which doesn't always work you know if it's gets stored not windy day and you're in trouble and if it's not sunny and you can generate enough power power the grid. So what they're tuchman doing here's the thing about blocking I'll block island now lose. It as a would bar yeah. So the idea would be as you have access. Capacity so access solar power axis wind power you pump about to water up into this mind into a pool into a big old pool and so you're sucking the money is actually the waters in the money sucking up to the surface in the heavily pumping it up from the or to another level yet to another level so you're drilling weighed down to hit water and your pumping and all the way. And then when there's not enough power you have a turbine below that pool and you let the water fall back. CD about this country you let the you know that the plug in the bathtub. I let that plug out all the water goes down there but it's push in the turbine is it's is it's going passing is one of those Tennessee I guess we should have been engineers. Yes. As a perfect explanation. If I nominee of our listeners understand. Their their run into some issues here this is really really really expects. I'm surprised though because it's all there write me a if you if you guys have been and mine is in doubt in my iPod deal happened and you really. Out means diskette to and they have the mind. And by about my cousins worked in Italy Canada and everything up there. Well there's only like seven or eight things to do this to pick it's it's been involved hockey hit it'll mining. Ali I'm trying to maim but my wife came with me and EC you can go down in these mines with the shafts. Ignore it like it really the size of the head Ted Williams Tunnel. That's how big. Seeded drills that go through the idea here. You know there's three wide in and again the size of intently and so. The fill those up with water right and then windy wind is generating a lot of powers the sun is generating on you bring the water out. And then when there is no wind in there is no son you let the water go back down but while it's going down only while it's going down. It's towering turbine but the way. A damn right Micah hydropower yeah so it's a it's another form hydropower the problem is cost him you know figure out do it and an affordable level I think they'll I think they'll look into this because there are a lot of now anti coal mines that municipalities and states are had no idea what to do these things that are no longer profitable to use that no one. For a number reason 19. Hours to figure out something to do it the real estate in this could be good news for them. Pay up next we're going to be joined by good friend Paul La Monica. And policy talk to us about best buy now. You know I've been down on the retail sector for a long time. And best buy home seems to be. Figuring out how to beat Amazon at their own game maybe not made news Google's news that. Paula Monica's gonna talk to us about that matter these bullish or bearish on the stock that is next from our insurer match dot com studios. Stroke. Bringing you the best in the business and financial news every day you. This is the financial exchange radio network. According to a recent study by the Investment Company Institute more Americans today are saving money for retirement through traditional -- raise an employer sponsored plans hi this is very Armstrong it's great to see that more of your saving for retirement and my message to you today is let me help you make sure you protected assigning a beneficiary to pass your assets onto after he died is an important part of elder life planning and my firm the Armstrong advisory group as a new guide out this month that can help you understand this process it may seem simple but there can be complications call now to get your free guide understanding traditional higher rate beneficiary designations the phone number 803934001. That's 803934. Zeros you're one you can also download it right now from our website financial exchange show dot com it's. Dirty suffered through securities America incorporated member Finneran SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Many of us are always thinking about securely retiring while leaving a good legacy not everyone can do this but we are fortunate to live in New England what technology improves and costs should come down solar incentives seem almost too good to be true yet if you talk to alternative energy clients they're thrilled with having no electric bill summary been driving their electric cars with three power from the sun imagine pretty solar power creating our own clean renewable energy while leaving a better world for our children and grandchildren solar is an ideal retirement plan you think the state and federal tax income credits now when your high income years and enjoy higher returns for the next twenty to thirty years don't put off investigating solar. The returns could be incredible call alternate energy right now at 8559120115. That's 8559120115. For a free expert solar analysis alternate energy has been serving new englanders for forty years called in today at 8559120115. Or visit them online at 800 DC solar dot com. A state an asset protection planning can be overwhelming where do you start and how do you know what type of trust is great for you and your family hi this is very are thrown in with numerous types of -- available a state planning can certainly be confusing do you need to revoke -- or an irrevocable trust and what's the difference between the two should you consider special needs trust her life insurance trust what are the tax implications of each type of trust -- and -- an expert in elder law in the state planning has prepared a brand new guide called. 8668485699. That's 86684856990. Can also download it right now by logging on to legal exchange showed dot com learn how to reduce and potentially eliminate your state taxes and protect your assets from the nursing home all the same time call now for your free -- 8668485699. Or get it right now and legal exchange show dot com. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends and being sure imagine 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 a free consultation to make sure your property and family are -- them properly covered well so they get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match let's 84499. Match insure a match works with the leading carriers in the industry Mike Rabelo Plymouth rock and more their license for all types of insurance and can save you time stress than money with just one phone call and one relationship. Call today 84499. Match or go online and ensure a match dot com. Security suffered two securities America ain't member finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. On top of breaking financial news by becoming a member about Harry's brigade blog on the financial exchange dot com and sign up today. Best buy. Surprised a lot of investors yesterday with a better than expected earnings report we're joined by Paula Monica. From CNN money to talk about how they did. I don't Paul. Ontario good good so. I don't know about you but I was quite surprised I don't know owned by best buy sure surprised earnings report. I think it did take you know what people by surprise given that any of stock or about 20% on the news if you think people were expecting it to be that good but. For all the talk of Amazon. Yoga crushing traditional retail and then Wal-Mart as well because they're becoming much more aggressive particularly with digital. Best buys if the company is over the past couple years under a new wish CEO. Has really turn things around they need the stores. More tracks and and tumors and you know the old joke about them being sort of the additional word for him on a longer. The case that people are going in for price comparisons and end up walking him buying things. On Amazon everything from the gaming element well they said that you know scheming it was a particularly big area of focus as well and and mobile phones obviously. DL how are they able to maintain margins if they're competing on price. It is definitely something that he's going to be difficult for. All retailers margins are notoriously low. But I think right now investors are excited by the fact that you know their earnings and not. Taken significant. Earnings really blue wave forecast yesterday and that's what stock went up. As much that they didn't even though you US sales growth in the store means. Sluggish there at least off when you look at rail other big retail right now reporting sales decline right. The Wall Street happy with anything. Positive territory in the digital they're doing really well as their Q you mean their their sales on line you know mobile dropped more than 20%. Pretty help. Yeah they and I know they started on that a few years ago when it was trying to get their digital sales up because. You're right people would walk into a best buy store they'd check out the computer that technology they'd they'd shopping it in the in the best buy store. Inside of a gun they used best buys Wi-Fi. To buy it commandments. Right exactly it was definitely something that had become law. A bit of the joked you're with consumers and on Wall Street and other the company wasn't very curled about it but you know it just goes to show that. Price obviously is if you are competitive on price. That is something that can help you bit I think the best buy gets knocked every now and then for a Geek Squad in things like that bit. There are still consumers out there that aren't completely comfortable with this notion of DIY ams can ordering on the phone and it comes and I put it myself there are people would still like to go and see something physical store and got. Talk to sales associate and also expert that might be able helped set them off. Is the Geek Squad much significant portion of their business is is it it does it open. Generating that much in terms the overall revenue or profit and I think it is something that. Does helps set them apart. What about the video game industry. Yet they are benefiting because we have seen explosive demand for a software hardware and though. It batting come back Bankston and switched that aptly been I hate for them and the other gaming software companies take to just. Reported really strong earnings earlier this week Activision Blizzard and electronic arts are doing extremely well also and that clearly partly because of Nintendo but also. Because of the continued success. Sony's PlayStation and now Microsoft's Xbox Live also mobile well. Now they noticed a few years ago than May's two years ago they got rid of a lot of the the dvds. And in that part and then they they they got into appliances to go right did. Yeah that is something that best buy has been doing that has worked as well clearly yet people are not buying dvds or CE CD's anymore but. Appliances was an area that. He could be Home Depot and lows in and you know he hears that matter. Continue to do well and the best buy them into that area I think also under missed by the mentioned that. Best buy is probably benefited from the broader retail turmoil that. Taken out of the competitors hhgregg is the most recent. Casualty of more regional electronics chain RadioShack obviously you know what happens and Circuit City is on you when you think about that category. It really is best buy for the most part a national scale. And though and that's kind of the same spot that Dick's Sporting Goods is put themselves into right is there are a lot of their competition's gone away. You know sports authority is on any of the regional sporting goods companies are struggling as well so that there is something to be said for having. A national footprint and I think investors. Realize that as well consumers know that you know they can't buy everything maps on it just seems like it. And BAA. Agassi if it's a wait and see but it is trading at a 5982. You know priced earnings ratio looks pretty reasonable it's easy you'd get a dividend thing in a dividend to 2% so. Where do you think it goes from here. I think that as long as. The company can continue to. They you are well positioned with regards to the gaming boom and then also mobile phone. That there's a good chance that the company you know their sales and earnings continue to gain some momentum and remember we're gonna have an iPhone refresh later this year whether or not donate today. Skip eight and nine go right Andy's tenth anniversary that is something that can presumably help best buy as well as the time you have an upgrade cycle all the fonts. Will be open more stores or they just gonna or are they kind of tapped out and turn because a lot of their stores. Are you in malls and he kind of wonder gee where are they going you know there's a lot of eating go in and best buy might be doing very well. But JC Penney in that same malls like him at all. Yeah I think that is a good point there are concerns. That. He'll what's going on with any. Mall of America that that is that weren't the retailers that are and it's in those multi hit those torture. Are doing well at best buy hasn't been. Growing its orbit. Much done the past couple years I'd be surprised if that's an area of focus from them I think that that the move to digital. And in the emphasis on on mobile commerce. If it then to really. Keep their own retail footprint stable not even sure it'll war. But that doesn't mean they're closing. On this story obviously is doing well like their position mr. Very good Paul thank you very much for your time thank you ever that we get you to happy Memorial Day. That's Paula Monica from CNN money talking to us about best buy what are too like if you war are. Best buy and you were renegotiating. Lease that's coming due. I think the price of some leverage with me if you got. Sears and Macy's JC Penney move and a place you're gonna have a lot some handsome profits and renegotiate that means what are your big expenses in order entry and borders is going to be rent yeah. If it could be hypothetically could be good for best. Since they have a stretch but it it couldn't the turmoil that you're seeing brick and mortar sales. Could be a boon for about how much of your electronics do you buy in the store verses on line. And I'm a fan of best buy and yet I really can't remember the last Amazon when the story I mean either. So Dan and my ipodder most recent computer at best buy but only because is her employer ideal you know. These guys by your pulled through them now and go to Verizon directly. Here would about it he needed charge cord or Amazon. You know charge court deftly Amazon and you forget that create a lot of time about having now you know I think ten bucks tack on now. Your son you're tunnel which I won there a problem either by an engine that now I'll decide. Markets op Ed I you know I hope you all have a great Memorial Day weekend Dow's down a little bit down eighteen points. Oil is at 31 cents a barrel golds nine bucks announced few gold bugs. Happy Memorial Day weekend for Michael Armstrong talk herself and me. Barry Armstrong for march or match dot com.