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Full Show 6-12-17

Jun 12, 2017|

Full Show 6-12-17 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 Barry Armstrong and sharks done us. The ratings downgrade of Massachusetts was our lead story until about 7 AM this morning when it was announced that Jeff. Immelt is stepping down as CEO. Of GE and he is being replaced. By John Flannery hi everybody it's very and sharp with you with a surprise announcement. About General Electric Co. stock rally by the way. Yeah different mold 61 years old had been CEO. Of GE. Reports about the last twenty years now we sixties he started just before September 11 2001. That was I believe his third day and unfortunately. If you're GE stock holder. You probably weren't too happy about a lot of the moves that Immelt made during that time is it simply is a fact that the stock did not perform well elderly well. During his tenure there are I don't mean to be that great defender Jeff Kimmel and I don't know him personally. But let's remember when he took over the company it's call 9/11 day or two oh by the side of 9/11 yeah. They knew going into. The the crash. After nine that occurred after 9/11. At the stock market crashed in October of 2002 crashed again in the spring of 2003. And then we had about four years of recovery before he had yet another stock market bubble in the crash in 2008. I guess the criticism of him that would be justified as he should have on while their financial business prior to 2000 and. What you can make an argument that GE capital prior to 2008 was one of the most irresponsible lenders out there yeah I mean. Part of the reason the company performed so poorly coming through the crisis is because of some of the loans that GE capital made hate hit him doozies I remember. They were they were financing. You know power plants over in Ukraine and you just look at some of the loan details of their financing on their own jet engines and eat like they've made some doozies that it in and look again I I think that Jeff Immelt is a very capable executive OK I think he's he's a good person but. The fact is the company didn't perform under his leadership whether that's all on him. Or not. I I don't know exactly but the fact is look when when you have that title of CEO and the buck stops with you is uninteresting that he's relocated from Connecticut. To Boston. Flannery who's going to be the use the new CEO. He's he's a health care. With that you know you if you're healthcare executives what better city to be located in the Boston. In I think this is a major piece of why there why they're moving with Flannery. As the CEO going forward as they want to be. More of a health care and technology company than they've been previously they want to try to use that to go laughter. A lot of the young talent in the city of Boston and look it's it's gonna be top ten he's got about health care you talk about software. Devices Biotech they wanna be the provider to those companies yeah day in and look they've got and they've got an uphill putt to try to get there because GE when when you talk about. If you're going into a room of twenty bouquets saying hey we're do you wanna work for when you graduate from college not G all the tech went to say look I wanna go for Google wanna work FaceBook I wanna work or they wanna go to start. The health one's saying look I wanna go to my bio techs I wanna go look at them now via your your finance guys saying look I wanna go to Wall Street. I don't know how many people come out right now saying I want to go work for GE is keep in mind most people when they're grown up their exposure GE is washing machine light bulbs. Yeah like it's it's not viewed as one of those glamour jobs they've got some work to do not in terms of branding to there and consumer but branding to the people they want to work for. Perception exact. Well anyway. Flannery in Immelt out stocks up three point 7% were speaking of GE is trading at 29 B seven. Dividend yield on GE is 3.4 4%. On Friday it was announced that S&P global has downgraded. The bond rating. Of Massachusetts this is very bad news for the commonwealth. It is I don't know why it's a very bad news but it's not a step in the right direction what what this means is that the odd state of Massachusetts is now going to be rated it bad double leg. Which is the third highest tier by S&P so it's still they are very highly rated bond. But you talk about what this means going forward and pretty much as the we are going to downgrade you they then went out and downgrade him what is this doing terms of credit costs from Massachusetts. At that. Greed you're probably not talking about any substantial move especially since the other two bond rating agencies didn't make any changes. What it does mean is that look if it's a pretty strong signal to the state that if you do continue on this path. You are going to start to a person higher cost. Well let's let's go back he did in time you go back ten years ago truck. The that rainy day fund had 2.3 billion dollars and yet. It it is now sitting at one point three billion. It was something that Charlie knew about Charlie Baker was told you need to build up the rainy day fund he has he's built he's increased by 15% to one point three billion dollars up. But not enough evidently to satisfy the rating agencies. And my criticism. Of the of of Massachusetts upon an investor I'm saying to myself. All right here's the state it's a very wealthy state Massachusetts one of the world these states in the country. And you've got an unemployment rate in Massachusetts senate seats in the threes IE AP if it's three point 94 point one it's a very two point eight. Two point 89. What better time to do around of state employee layoffs and right now and I'm talking about. I talk about firing cops or firefighters on talking about. Some of these obscure state agencies think about. How many people work with the attorney general's office how many people work at the department of insurance of the banking department that you just the list goes on right up. And what a great time if you're if you wanna take a leadership position. This could be the time to do it because you could say hey we're gonna lay off. You know 101000 state employees in obscure agencies are gonna fire teachers were not we're not gonna let go of cops that are in your town we're gonna. Let go of obscure. Agency employees the assistant to the assistant to the assistant. Get outta ten or 20000 state employees now do it now while the employment and by market is strong in the can find other employment. It exactly it's it's a good time to go through that as you mentioned Leo Massachusetts who we often don't realize it because were kind of trapped in the bubble of the northeast you know. Matt it's Massachusetts when you look at states by network okay by household network one of the rich states in the country sixth highest you don't the number one status we. I was gonna say Connecticut's he used to be. Won it Connecticut is actually slid down the list for spot behind Massachusetts right now well because people are leaving Connecticut number one is Vermont. Vermont has the highest median household net worth by state 220000. Dollars Bedard now okay. Massachusetts in the ballpark about a 147000. Dollars of the top ten there in truth I do so Vermont's number one yeah. Hawaii's number two of cavs and you know very happy state and Maryland number three all the government money that's blown around down there. Rhode Island number four surprising okay Delaware five Massachusetts six. New Minnesota New Hampshire New Jersey Virginia Connecticut that rounds at the top eleven. Well in and might that might point about you know their financial position right now the other thing that was message mentioned in the S&P report woods. We've got a large unfunded. Pension obligation and we we've not been funding that pension obligation properly. That that's the bigger concern to me that that wing on the on the state budgets and and that hence the ratings downgrade as and he goes on to say that you know well we know that he can raise taxes and that's my grief fear here. You know if if if you had strong leadership you'd be and it's a situation where the governor to stated legislature. And let's let's have layoffs with that let's get rid of date 101000 point whatever the numbers ten or 20000 state employees. Let's get rid of ten to 20000 state employees were not gonna affect schools would not affect hospitals are not gonna affect law enforce in a that affect some of these obscure agencies and trust me hundreds you've never heard of get rid of employees in that area. Those people have no difficulty finding work balance your budget start funding your pension plans senior. Ready on the you have plans to all the back maintenance on the team that's been put off for the last thirty or they're highly you can do right now all the highway work that needs to be there. There's so much that you can do and this is the time to do when the economies like it's it's when everything's clicking that's that's what when everything is going at its best. That's when you get you know on the back end that's when you try to take advantage of it. Do you did you update the poll question tiger from the yes OK what you like issues to us. Yeah apple question which you can check out a financial change or dot com is should at Massachusetts. Lay off thousands of state workers yes or no we'd wanna know financial change showed up I just voted by the way. Would you vote I voted yes this or that game. You know it's it's not they have nothing AD state workers. Nothing needs or fool citizens who have been worked for the statement. This is the time you take that type of action that you do when the economy is wrong you don't do it in 2008 I understand that the you do take care of that. Win when the economy strong and just remember all that's going to happen. If and when and we all know it's only a matter of when does eventually go through business cycles eventually the economy cools off. Tax revenue goes down what what do you do at that point. That's you know eat yet have to prepare when things are good don't ever says I'll think about this a great time for me start saving. No you have to do when things are going well this is the time and make your cuts at the state level. The corporations did it they had to do it right at the time that they had millions of playoffs back in 20082009. Up next we're talking real estate George for two from the National Association of Realtors is gonna tell us who is buying up. Commercial real state in the United States that's next from our insurer match dot com studios. Stronger. Zone. Bringing you the best in business and financial news every day this is the financial exchange radio network. 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Or email BDO at liter bag dot com for more information member FDIC equal housing lender. As we get older the state claiming becomes that much more important and if you have loved ones or friends that may need nursing home care you need to protect yourself and your assets the best way to do this is through trust. But don't listen to the fibs about having to give away all of your assets or control over your trust or the best on which is you may have US permission from your trusty use your own money you should know that none of these statements are true. You don't need to give everything away you can stay in control and you never need to ask for permission to use your own money Cushing and Goldman the experts and elder luck have written a brand new guide top misconceptions about Medicaid or read a couple trusts. This guy details thirtieth the most common misconceptions about estate planning and you can get yours today by calling 8668485699. That's 8668485699. Or you can download it right now on our website at legal exchange showed dot com legal exchange showed dot com that website again is illegal exchange showed dot com. There are strong here and I'm joined 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. In Jake for first time homebuyers. What would your message to the young couple hours just somebody's out there looking to purchase their first time home. Yes so you know for first time homebuyers 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 were making five and fifteen offers and amnesty for fighting house now and offers except it's extremely. Okay. And so they have to temper their expectations. Oftentimes your they're paying more than other half to. 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. On 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 are 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 that 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. 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We're joined now by George were to from the National Association of Realtors were talking. About commercial real estate sales not residential but commercial hi George are real. He's doing in order to be here glad to have you. So what you're I read a report it would appear that there are a lot more foreigners buying commercial real stayed in the United States will look how much more they buying and why are they buying. Well along in international buyers if you look at the global economic landscape are contending and especially their home countries depending on. On their. Home. We've been very low interest rates and look at bombed on that there a little on the other market indicators all the United States market is very compelling. They're getting higher return than. Just as importantly. They're getting them in an unexpected places smaller commercial markets which traditionally has been called me here or small cap market. But he Trenton here just to give an example knowing you're in a Japanese investor who bombed. The government on grateful to you on Japan in the US and small cap market turned look inept and applicable seventy and a half percent capital. So that all that is very compelled. So they can borrow the money. In China at a lower rate and then by a property in the United States that at the same low rates. Well I didn't think I need a 60% of luck finding out it to the penalties aren't actually paying cash. And an additional 30% of them are actually. I'm not doing these deal would that the from US forces from Seoul. Clearly are forced some of it expects it Chinese Barlow I think a lot of it has to do with the availability of cash. Income market vehicle that is expected to. To slow down a bit of a public restrictions on capital the Chinese Government spending. But they're not buying skyscrapers. In New York Chicago and Boston they're buying smaller properties as I understand smaller properties in. Outskirts or rural areas. Absolutely one lately about how members will walk the end of the deal applies. Think we believe the median deal that's why hasn't let the bottom and it'll be averaged right around two million. Uncle clearly in the market still point in the markets where they're buying are smaller markets there are national merit Indianapolis Jacksonville Florida. I'll pick who are in fact that they combined and small office building that combined. Trip planner. Out in the suburbs rural communities small profit. What countries are they coming from gate if you had to list the top five countries. I'm guessing China would be number one but what do what do the countries where these foreign investors error element for a. We'll hear you're getting in line on the money Hong Kong the number one market China all of them on the warm water or order a small market called buying a Mexico. The United Kingdom. And there's law and Canada and in a comic and other countries are surprising to hold them publicly. Neighbors to the United States than when you look at the live comment on the front Israel South Korea. Well if their countries and in some particular soft America would have been experiencing. On the top economic I'm. Particularly can look at dependent on me from Argentina. A lot of investors are became they hate it and shelter or they're on the market there are thought he can return. And what part of the country they buying this the area I they'd be you know as it. Spread out throughout the United States are they buying all of their property in the midwest where where did they tend to buy. Your point a lot of that this nation state are spread until it multiplied in Oregon is the number one of the nation's. Speaking broadly. All by Texas California and New York. Arizona off with a wealth of pebble Ohio Alabama Michigan. And I think a lot of these. Middle pick what they're pointing to lead the fact that a lot of being punctual they come accompanied. Are we looking you've played like ballot. Austin and Alabama is becoming a strong automotive. And manufacturing kind of stole a lot of big investors are following company. Where companies put up at quarter. Where there's economic growth there at all. Do you think it will continue to. Well I I think calling particle pollution global economic growth is expected to hear. Tool on the pick up a little bit walking on the growth of Asian economies. But globally speaking the US. But still remains a blight to beat them and got strong employment growth fairly strong. The economic fundamentals so I think commercial real in the UN is. Comparatively speaking very attractive. Good George thank you very much for your time we appreciate it. Thank you are at Purdue and George are two from the National Association of Realtors Lotta people get up in arms over this they don't like. Foreigners buying American real state. I remember trucked back in the 1980s. Japan was the big guy he didn't name mentioned Japan for the Japan. Japanese buyers they came in the U Pebble Beach golf course they do Rockefeller Center I mean if they were Japanese were buying everything they can get their hands on back in the nineteen. When do you remember what what Vancouver did last year. Where they put a yeah attack and it was a 15% tax on if you were to Canadian citizen you wanted to buy property in Vancouver. City Vancouver said look you gotta pay 15% tax in order to do so. And that had some kind of nasty adverse impact actually on the real estate market. But they do that to protect me they were doing that with primarily residential property yes and they said while we're trying to protect. You know the local families the you know the couple were. You know dad's cop in mom's a nurse and they wanna buy a house that couldn't it could yet the thing that I think yeah after remembers in a lot of cases when you're talking about these you know big cash buyers that are coming in. They're not looking to buy yours three bedrooms in the suburbs or the other they're typically looking to buy. High end real estate in and around cities to protect it as an investment in part of the reason why you see that money coming out of China. Is his investment options appear Chinese citizen what you're allowed to buy over there and actually invest in. You pretty limited you can't do an awful lot actually and so what's the Chinese stock market about 10% of ours it's it's tight and and until the last couple years there's been very limited participation it's been very difficult to open accounts don't trust and so what you see a lot of Chinese wealthy family's doing as they say look how we get my money out of China and just because they don't trust them so they don't trust the government to be able to regulate things the way. But hasn't China made a lot tougher to get your cash out I mean China the Chinese Government is San normally I'm I'm sure if you know the right guy just. But think about the United States you try get your money out of the United States it's very hard. You know once you bring it here. Try to get it out you're your own to pay an exit no doubt about it but you have a lot more options and a lot more opportunity in the US wants your money here you're far more free to be able to do well well and it's it's the states still displayed our shortcomings. The United States is still the number one market to invest its easier buying treasuries or whether you're buying rules it still is the place that people go in their flock to safety whenever you see that the rest of the world selling off. All that money coming in the US treasuries and that's that's where and to go. Massachusetts bond rating was reduced on Friday to double A should Massachusetts lay off thousands of state workers yes I think they should. Good financial exchange showed dot com in order to participate in our poll. We the trivia questions coming up for you next from our insurer match dot com studio. Making your Smartphone even smarter Dell logo mobile lab by surgeons financial exchange show in nineteen Jordan who who played stores. This is the financial exchange radio network. This is a special announcement for a landlords chasing down only when payments and making trips to the bank to deposit checks take a hassle out of rent day we're zero and leader banks all mine rent collection tool zero automatically deducts tendons went and deposited into your account visit WWW duds he ran 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. 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Securities offered to securities America incorporated member finreg SIPC and advisory services are for through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated guarantees are based on the claims paying ability of the insurer as we get older the state claiming becomes that much more important and if you have loved ones or friends that may need nursing home care you need to protect yourself and your assets the best way to do this mystery trust. But don't listen to the fibs about having to give away all of your assets or control over your trust for the best on which as you may have to ask permission from your trusty use your own money you should know that none of these statements are true. You don't need to give everything away you can stay in control than you never need to ask for permission to use your own money Cushing in Goldman the experts and elder luck had written a brand new guide top misconceptions about Medicaid or read a couple trusts. This guy details thirtieth the most common misconceptions about estate planning and you can give viewers today by calling 8668485699. That's 8668485699. Or you can download it right now on our website and legal exchange showed dot com legal exchange showed dot com that website again is illegal exchange showed dot com. 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 that 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 of faster closing co 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 -- 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 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 safe and properly covered -- also dig out all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates in carriers ID 44 and 99 match let's 8449. 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If you're real estate or property management company you need a 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 rules they 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 its innovative to see rent payment platform leader bank has a team of business bankers that are 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 choose leader bank as they're banking partner call 8776917. -- 900 or email BDO at -- -- dot com for more information member FDIC equal housing lender. Four mostly watch a look at the market's performance so far today but I do Berrian jug right here on the financial exchange radio network. Crude oil prices are up but stocks are down across the board nothing more than the NASDAQ nasdaq's down over 1%. Yet tech stocks as in general down one point 39% this is after the NASDAQ was down 2% on Friday. Continued selling pressure in tech right now. And I'll tell you this is going to be a thing to watch over the next couple weeks here just has historically when you see the sector that has led the market selling off in this way. It's not necessarily the most optimistic sign about where things are going over the next few weeks when you lose market leadership like this than it does tend to kind of put you on pins and needles a little bit so. Are going to be wary over the next couple weeks heading into the fourth of July was the bank's stock right your FaceBook Amazon Netflix I don't know Netflix has been around ultimate Google sure rallied. Yeah I mean EE Thomas you talk about all these companies they're all getting whacked today FaceBook down 2% Google down 2% Microsoft 2%. With Amazon not Amazon down two and a half percent apple is down own. Let's see how much example that apple down three and a quarter percent I mean. Pretty much all your big tech names are just getting whacked over the last couple days you wonder how much it takes before buyers stepped in. Community looking if you're looking for growth that's where people are gonna today you know and is on becomes a bargain that at 900 dollars and hear the question is is Amazon a bargain at 953 like it is today goodness this is heavy volume here I don't know if this has a a short term for coming. In the next day or two this this might have a little bit alike. The last apple is time for trivia the last episode of The Sopranos. Aired ten years ago this week we're doing. And trivia. About The Sopranos what was the name of the actor who played Tony Soprano he's dead now 68680. Is our text number and the prize we've switched up the prize the prize is. Two tickets to the US senior open at the Salem country club which is a great take by the way. So first listener with correct answer to the question which was. What was the name of the actor who played Tony Soprano will win two tickets to the US senior open. At the Salem country club. Are you talk about the Federal Reserve Federal Reserve is widely expected truck to raise interest rates on Wednesdays they start they're meeting tomorrow. They'll meet all day tomorrow and then they'll make their interest rate announcement on Wednesday to walk. Yeah and the expectation is that you are going to see. The Fed hike rates it's pretty much a certainty at this point in 95 point 8% chance. That you see the Fed hike rates on Wednesday. Interestingly enough that's down since what we saw on Friday Friday we heard in 99% chance so. With the market sell off the last couple days I guess there's you know people pricing and a slight chance that you see the Fed's stand pat I don't think they do okay. The Wall Street Journal is reporting that the Federal Reserve interest rate increases are not having the desired effect of cooling off Wall Street's hot streak I didn't know that was the goal by I think the big thing I don't know that's the right way for them to put it and I think. What I think what the Fed is trying to do is make sure that the economy grows at a moderate pace but also making sure. That they are giving themselves an ammunitions that if there is another downturn in the future they have. At least a little way to cut. I think that the big thing that you see here and what's interesting. Feds bumping up short term rates okay we know that that's what they control when they bump up interest rates the ten year treasury. Okay and this is I think one of the more the more critical bond yields that we measure here tenure treasury the start of the year was 2.4 5%. OK with it now to eighteen states 2.2 one so that he you know to put that in perspective. That means that the law the ten year rates only be about one point higher. Then the overnight rate and that's a very bad sign that that that is he in terms of economic growth it is that means you're looking at eighteen year. GDP growth of in that one I hate to say that it's about 1% it if you look historically it's pretty much saying look you somewhere in that one and a half maybe 13 quarters on the top end. And look we've talked about how you grow GDP that there's two ways that you can grow GDP. You grow the number of hours worked and or how productive people are within those hours okay. Within that hours worked there's two ways to do that you people work more hours or you have more people than we know we're not having enough kids. You get on inaugural IRA Thailand is no immigration and you do not have the levels of immigration to pick things up so with that. Unless all of a sudden everyone starts working in. 455060. Hours a week. I don't think it's usually a percent GDP growth that was trying to work more no one ever. Don't ever sits around saying gee I wonder what if I could just work seventy hours a week would that be great to work you know thirty more appeal while we're at forty. Now or working a forty average work week Dow's 34 point five okay. So from my perspective. Looking at this I don't know if you get 3% GDP especially along and I laid out bursts OK you might have a year here a year then I don't you think you get the year I think you'll get a quarter. We have growth and if you get a year you know I think you need a year fatality here yes I think you can get a calendar year which that 2019. Probably a Tucker but that one on the boards ticket. Speaking of predictions. Speaking of predictions chuck was the one who months ago. Says he's not serve sure if Travis collect is gonna survive as CEO of Wilbur. And I told them well it's hard. And I still like I I must say he would despite the the stories that were reading in the Wall Street Journal and everywhere else. About. Imminence of Travis is departure from. Uber I I still think he he comes back. He ease ease do some very tough personal situations his mother was kill incredibly tough in a boating accident his father was badly injured I guess and he spent a lot of time in Los Angeles the company's located in San Francisco. The board. Which is you know consists of a lot of is his investors though I think are growing tired of being front page news in the Wall Street Journal. Yeah and it sounds like Travis clinic is talking about taking a leave of absence just attend to some personal matters over whether it's forced or not. I think that the in the board and have a tough time forcing him because he controls so much it's I am not quite ready to say this is forced because what he's going through fiscal. And a personal. Travis also was the CEO of one of the hottest tech companies out there and growing at 18% in look out. Travis I don't think it's a bad personnel picky as bad intentions and the reason I do think that what you can do when you're playing in the in the little kids sandbox we're startup is very different from what you can do. When you're trying to IPO. And if you are trying to IPO. You got to be clean did he make a mistake by not bringing in Cheryl Goldberg. You know it or in jail Samberg shelves and answer or Eric Schmidt member who brought it. Think that's a really good point the the Google guys rate they were couple young twenties Sergey Brin Larry Page they said look at what they didn't they didn't say it. Pretty much the Google board came in said you need to bring someone into work alongside and he wasn't there that know he's there may be 510 years and it did a phenomenal job and look at Cheryl. Yeah it's Sheryl Sandberg with faced Carol Samberg might be the smartest person in terms of like when you talk about. The person who knows just how to run a tech company got how to build product is she she's not on the product development side but when you talk about how out of brawl and a tech company budget al-Qaeda or not she is. Budget allocations who to hire what divisions the prior or she is as good. As it gets out there see if they can go out in and yet I'm just gonna throw out any memory of Ford's CEO Longley. Right and I doubt he'd come back at a retirement but that. You get somebody like that. Yep I think like who you go with that would be a good fit there is you don't necessarily need some of the inside ten. OK you know you could look a little bit outside the box there. And try to bring someone in want to brainstorm I guess again think about that I like my lolly that I ease act that he's in the seventies. But what a great guy to bring it. I automobile guy you you want someone like that that's kind of who you're looking for. On a trend that could well see you you know who actually would be a great fit I don't think he'd want the job but now these stepping down from Starbucks Howard Schultz would be perfect there the only news that's a really good how shall be wolf baloney semi one. It's a battle you know maybe he could do the job and he'd be he'd only have to do it for. Two or three years chilled to 63 pop in there for 23 years get out now like that's. They'll be viewed especially crucial has been about as good as he gets in terms of building corporate culture and structure. It's it's just would do for me. I think they need it and handled that they need me. Meeting date they need to get what we can make I think lots of gray hair wearing a little bit of experience that they need we can make a pit pay yet Cushing handle during the month of June is giving out free guide called the top misconceptions. About Medicaid durable global trust a recurring statement that I've heard about the stresses that. Once you transfer your home in two. In your local trusts he can never sell it is that true Beatrice know you can sell you if you put your house with Bieber clearance. Let's put you put your primary residence here house on the tape and you put it in an herbal global trust and then. Five years later three years later three months later you decide Tijuana sell my house you may do that you were allowed to do that even though you put your property into. And herbal will trust as just one of the many misconceptions about Medicaid durable will trusts. If he'd like the Cushing and dole and guide for the month of June. Well just give McCall their phone number is toll free 866. 8485699. That's 8668485699. They can download the guide for free that's easiest way to get quite frankly. Legal exchange showed dot com guide was produced by cashing in golden and paparazzi they do a fantastic job with these guys. Legal exchange showed dot com or toll free at 8668485699. Our rates police testimony was ratings goal even though it was a ten page threat Tucker let me just put this in perspective. More people listen to the financial X to know now. Bill the more people watched the call me testimony then an NBA finals game why that's saints. Good that's what that's good excellent. But let's think about how ridiculous is that like we always talk about posts on so many people watched the finals in the Super Bowl in the snapped. You need more people who were you involved in actually watching what's going is this. And indications now. That nobody's watching the NBA finals. Yeah it's it's clear that it is a bad year for the NB -- -- the ratings this year in the finals they decent I don't the numbers in front of a bad note the interest is just not there it's been a terrible season for the finals for just the NBA playoffs in general right exactly and ground game barrel could wrap up and I'd sort of saying a lot this in the finals ratings are sitting when you're hot when your highs though. This is an art are an article from Forbes. That these are to be the first two games between seventy finals in are the highest reading since 1990. You know what about the next few games get a look at. I I don't have those yet via nineteen point five million Americans tuned right on tiger you have the game three. Top each of the first two games and is the highest rated finals game since 1990 rarely knew her. I don't know why people watching these blow yes it's garbage basketball nuts but still net. The on cable news it ABC had the most people watching 3.2 nine viewers CBS was number two. But Fox News was the winner on cable news drawing three point one million people. CNN had three points or six. Yeah I mean again when you have nineteen and a half million people watching this testimony remember. This this was not a short you know half hours they use went on for two and a half hours so to average that over two and a half hours in the middle of the day. That's pretty impressed by what lake. I wonder if you went into like a bar for once if they had this on instead sports on Trinidad in Washington you have an all kinds drink specials my my buddies in DC said the city was just. It was kind of like suitable for DC. Take the whole city was pretty much that. The the cost of dining with Warren Buffett this year two point 67. Million dollars 2679000. One with warm. Good bid what you're going to do well what this person's going to do is they get to pick up to seven friends and they get to go to Smith once in mid Manhattan with mr. Buffett. And he's been doing this every year for the last 1516 years now since 2000. What he does take this money gives charity. And security in San Francisco. With fifteen is the first few they did this was the year 2000 it went for 25 grand. Like what a bargain 25000 dollars respect 125000. Bucks what a bargain like to be able to do back then they've raised. I think in total it somewhere around like twenty million dollars now. Through just this auction of once with Warren Buffett and but it's it's I'd love to be able to sit down and pick his brain for two I wouldn't invite any friends I want one on one time or just me. Up next will be joined by Adam McCall for Morningstar. Its stock tock from our insurer match dot com studios. The financial exchanges live on FaceBook so make sure like your page and watched the guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. Hi this is very Armstrong and like you I'm watching president trump lay out his agenda very carefully because I know the decisions he makes may affect my clients on the fiduciary which means I make decisions that are in the best interest of my clients many of whom are retired or have reached retirement age as you get older and duties may seem like he popular choice to add to your portfolio and if they are you should call me right now to get my free guide the truth about annuities there're many to choose from and many are designed to provide income for life but there are risks associated with each purchase call 803934001. Gig you're free guide and learn the truth about annuities that's 803934001. We can download the guide right now at financial exchange showed dot com. 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 America companies are unaffiliated guarantees are based on the claims paying ability of the insurer. -- financial strategy has to include a thoughtful insurance plans and insurance exists to protect your assets our friends at the insurer -- 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 safe and properly covered walls of the get all the discounts preferred customers -- you can qualify for call insure a match to compare multiple rates and carriers -- 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry like our 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 paid for four of 99 match or go online and ensure a match dot com. Barry are strong here and I'm. And by Jake too who's a vice president and leader bank and we're talking about the housing market the housing market as you know. You know short of supply. Long on demand. And Jake for first time home buyers what what is your message to the young couple others just 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 remain 185. And fifteen offers two for fighting house and offers except it's extremely. Okay. And so they have to temper their expectations. Often times they're they're paying more than the other half do you. Pay more than the asking price and a minutes is quite common right now in and in some cases are actually having to to research other towns rooted in. Considered first because. The answer I 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 it is called leaders thirty. And essentially what it is is 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 rate payments by one person that's very. Helpful offer because what it does is it gives you a 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. Would I bought. A hole. And when I've refinance my properties have always used leader bank they're terrific bank you can call them to hold free at 8776917. B 900. Or visit them online at leader bank dot com to learn about their mortgage programs. 8776917900. Liter bank dot com. I like talking to a person face to face him a call 87769179. Country. If you missed any part of today's show not to worry good financial exchange showed dot com and click listen. Then click on the mend and catch up on every segment. You'll also find podcasts of all of our full show us just punch up that listen button had financial exchange show does come. James Gandolfini who passed away in points thirteen plays Tony Soprano. And garnered enormous praise for his performance in the television series he won three Emmy Awards. Three scheme screen actors guild awards and won Golden Globe Award. Rich from Shirley Massachusetts had the correct answer before anyone else he's taking home. The passes to the US senior open and our trivia contest has brought you in fact. By the US senior open taking place at Salem country club in Peabody. June 26. Through July 2 comes the over a 150 of the world's best fifty plus golfers including Tom Watson. Nick Faldo and Fred Couples kids under seventeen. Getting a free with a ticketed adult. For tickets and more information. Visit 2017 US senior open dot com that's twice seventeen US senior open. Dot com Adam McCullough from morning star joins us now. Adam thank you for coming on today. I can more interpret for having me at a we're talking about the Schwab US dividend ETF year what exactly is this one go about investing. Yes this is they overrated fund for Morningstar and what this does is it targets the more profitable larger dividend paying stocks in the US. Well we like about it is one that's cheap it charges seven basis points per year which is among the lowest in the category that is cheap but. Yet it's very cheap what does that also though is you know there's there's risks. Associated with targeting I didn't paying stocks so disposes course stock based on profitability metrics as well. To kind of mitigate the risk of the highest yielding stocks with those that what has the ability to pay that they've been in the future. We're also does is it weighs its holding by their market cap waiting so this really targets the largest. Paying dividend stocks in the US though. By going to this process that average portfolio size in this is the hundred billion dollars verses I think and these aviators those again that. The largest dividend paying companies in the US. What does this do overall in terms of Bob reducing volatility for people who want to own equities and assuming this is a little bit more stable than your basic S&P 500. Yet here you know this this it's it's been about three quarters of the volatility. That Russell 1000 value index. So what this is doing now also as its current target those industries that you have the higher dividend payers. Though it caps. Sector weights at point 5%. It's. It's holding a high amount of consumer staples stocks in that sector with that point 5% or the category 10%. And hold must. Much less financial sector's stocks in the category averages well despite the nature of being in less bald categories despondent is. Let's ball but overall compared to. Category peers. So that's pretty much fits in is a good core equity replacement if you're looking for something. They get decent stock exposure but a little more conservative than the S&P. Yes so it actually is in the larger value categories so it's not going to beat navy that's really Cora placement made more of that large value or for those investors were looking for all the more income. With their equity allocation. On this on lost. In October 2011 and so it yield averaged a 2.2 percent over that time which point person hired in the Russell. 1000 value index we do get a little bit more. Of the dividend yield would respond by that it is going all the names they're probably risk here in the broader market as well. Very good Adam thank you very much for joining us. Adam McCall he's talking about the Schwab US dividend equity ETF and the ticker on that. Is SC HD that's a heck of yield. Through a look at 3.2 percent right around 3% rate now two point 91 is what the other twelve month yields right and that's going to be attacks qualified you folks look it up. He's a big difference between tax qualified and ordinary income rates. You're listening to the financial exchange on a day where the Dow is down 39 points but was up 77 cents a barrel at 4660. It's Berrian chuck signing off from our insurer match dot com Steve. Hi this is very Armstrong and like you I'm watching president trump lay out his agenda very carefully because I know the decisions he makes may affect my clients on the fiduciary which means I make decisions that are in the best interest of my clients many of whom are retired or have reached retirement age as you get older and -- may seem like he popular choice to add to your portfolio and if they are you should call me right now to get my free guide the truth about annuities there're many to choose from and many are designed to provide income for life but there are risks associated with each purchase call 803934001. Gig you're free guide and learn the truth. About annuities that's 803934001. We can download the guide right now at financial exchange showed dot com. 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 America companies are unaffiliated guarantees are based on the claims paying ability of the insurer. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917900. Or visit leader bank dot com. Member FDIC equal housing lender and Miller number 449250. Subjective 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 that the insurer imagine agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match -- it'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 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 844 and 99 match -- 84499. Match insure a match works with the leading carriers in the industry like -- -- Plymouth Rock -- more their license for all types of insurance and continued time stress the money with just one phone call and one relationship. Called -- -- Cushing handle and with your legal exchange quick tip of the day Todd one of the misconceptions. That I hear regarding these Medicaid you're vocal trusts. Is that he had to pay a higher rate of taxation. On assets that are held the sea of a brokerage account. And it has dividends and income or you have real estate in this trust it's got rental income is it true. That win assets are held inside one of these Medicaid durable global trust that the rate of taxation is higher. If the answer is its faults but again. The misconceptions. Arise simply because there are many kinds of your vocal trots out there and so. Yes there are irrevocable trusts that are not grant torturous and to result in paying. Taxes at a higher rate that's just somebody if they have one of these herbal will trash they should. Verifies. That is in fact a grant to work trust absolutely go back if you if you been paying taxes at a higher rate go back here trapped there and make sure that you ask him is that it grant toward trust ours our current tort trust OK so what does that mean in English that means that all as you said bury the capital gains the interest the dividends the rents anything that's generating. Income in this trust these tax TU. As if you were the owner for income before and so it just flows out of the trust he gets picked up on your personal return. Absolutely no higher taxes get the facts about protecting your assets avoiding probate and keeping your money in your bloodline all while reducing your state taxes requested brand new guide from Cushing handle it's the top misconceptions about Medicaid. Irrevocable trusts 8668485699. And download the guide right now by going to legal exchange showed dot com or call tool free. 8668485699866848569. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense give leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency not guaranteed by the bank and may go down in value leader back a step ahead as we get older the state claiming becomes that much more important and if you have loved ones or friends that may need nursing home care you need to protect. Do yourself and your assets the best way to do this is through trust. But don't listen to the fibs about having to give away all of your assets or control over your trust or the best on which as you may have US permission from your trusty use your own money you should know that none of these statements are true. You don't need to give everything away you can stay in control and you never need to ask for permission to use your own money Cushing in Goldman the experts and elder luck have written a brand new guide top misconceptions about Medicaid or rev a couple trusts. This guy details thirtieth the most common misconceptions about estate planning and you can get yours today by calling 8668485699. That's 8668485699. Or you can download it right now on our website at legal exchange showed dot com legal exchange showed dot com that website again is illegal exchange showed dot com. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're Jumbo loan program designed for financing an excess of 500000 dollars offers fixed or variable rates for both purchases and refinance this 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. If you're real estate or property management company you need a 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 states face 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 its innovative to see rent payment platform leader bank has a team of business bankers that are 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 choose leader bank as their banking partner or call 8776917900. Or email BB EO at liter bag dot com for more information member FDIC equal housing lender. This is the financial exchange with Barry Armstrong and show saga. 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 sharks are. Big story of the day of course is Jeffrey Immelt outlets. At GE. John Flannery in we don't know much about John planner others in the fact that he's been run in there. Health care division needs 55 years old Immelt is 61 years old. I think it was forced out and time will tell only you know these these these stories struck don't states seek. Are very often no I wouldn't be surprised if there was some pressure from the board on. Jeff Immelt just because the stock price had been relatively stagnant over the last twenty years. Since Immelt took over backed Ian. Early or late 2001. That you know Flannery has been heading up GE healthcare for awhile now. I think it's pretty significant that's the division is coming from just because it signifies that signals. I think that they want to continue to prioritize that as one of their major growth engines. And I'm I'm curious to see how much of a departure he is from what Jeff Immelt did. You know just because then when you when is the head of GE healthcare right. You you're pretty much reporting directly to jump him so I don't know how much difference you're gonna get. You take a look at the big holders of gee you know yet black rockaway that's Larry thinks company bailed five point 6%. Of the shares of G yep you know you look at. Vanguard is and that act much of an activist because of some and he index funds. But Bank of America owns one half percent of G fidelity yield one point 4% Northern Trust him that they are pounding on the table. The end just try to look at the company's. That the investment companies that would have been disgruntled potentially income fund of America that an American funds mutual fund yuppie just look at those large institutional investors I'd say. If I had to put my money on one fund company that was active in trying to get rid of them all it would have been black. Welcome five point 6% of the company based when he thinks and an air and they that is there. They are activist investor if you made out like a lot of people don't like the only dread that back the black rock takes a position in their company. But the fact of the matter is. There an activist investor nailed a lot of the stock. And I will tell you if you're a shareholder in GE congratulations to stocks up three point 7% today is guy Flannery hasn't done a thing. Yeah today debate energy shareholders at least not right. Microsoft's. Xbox one X console war goes on sale in November for 499. Dollars now. I know the their two companies in this business. It's Microsoft and help cricket from Microsoft Sony. Is that Nintendo is still somewhat and player did it Nintendo is not huge anymore they've kind of like the last couple generations the switches. For the trend that is it's it's it's making the rounds in the video game and our people buying so I bought on. Anybody Nintendo yes that'd the switch its its revolutionary. In terms of technology you pretty much wants are sure you put. It I pavlik in tablet into console and you can take your console if you wanna go that's the premise of the system. So it's wildly popular now is yes very so Nintendo gaining mark pitcher. I would I would say so on the pope's and charged them cares just see it's so hard and I want him. Pretty easy games still hard to get one you know what's and it cost. 299. United united Christmas present for Tina yeah exactly yes that's the that's the market right so it's still for video games teenage boys oh yeah I mean that you're looking at 49 year old shall play edited says that. That market to a guest yes Microsoft. In Sony would be the biggest of via the console with the PlayStation with Sony and Xbox Microsoft he would give kids you know time. Yeah my time is dwindling. Of. And so I'm trying to pull up just the the data here it looks like this which is actually selling pretty well right now party evident the bigger installed base for the PS for the Xbox one right now and yeah a lot of people already have those at this point. But on I'm trying to dig up let's see here. So the UPS for you had forty or fifty million of them sold yet has over article about the Xbox one was 29 point six and prior to. And attend a switch yet the Wii U which only did thirteen point nine million. I don't have any data on the switch for some reason I don't know why truckers are just released and I believe it was February. Tomorrow an average fare very marchers only released. See out of to dig up some more info on that so. This isn't intended kinda does this where they'll miss like one or two generations and then knock it out of the park and it's. You know they they did very well at the Nintendo 64 back in the mid ninety's than they came out of the game cube that no one really bought in and they had the Wii which was blocked. Buster it it's that they kinda come and go. True or false astronauts. Get lead over time while they're in space equipment and some of these astronauts up there for months at a time when questioned here's Michael did they have to pay. Taxes walls there effect. And if I vote that could relate. You're you're out of the country don't know here here on the International Space Station so you're in the you're not in US territory necessarily. They've astronauts you know you talk about it a group of educated people. And is hard to imagine people that are much more educated now astronauts. There are twelve new astronauts that the National Aeronautics and Space Administration introduced to the universe this week and they will take home a maximum pay. Of a 150000. Dollars a year and some of them could make as little as 68000. Dollars a year thing about the education and astronaut that's. Do you think they get their student loans for him. Legacy does that count as it when the public service jobs I don't know maybe and the good they do not by the way. You do not astronauts did not get paid overtime. While the air and space. And apparently also you do have to honor I'm reading now on spaced Madden you do have to do. Pay taxes on the time that you spend in space and in fact you actually can not used to being in space as an excuse for not filing taxes until. Yeah you have to file before and what can I H&R block office up there I think it's either H&R block in my F Turbotax of their I don't know. But you do have to actually. Page can you imagine what it's like to be up there for months at a time. Unity you know I can you talk about like getting life is like. If if it's in the winter here Kyle walked in the house that you stir crazy aria meant to go insane there you go like all kinds of windows and everything like that you know it's very yeah. Something you know I don't know the longest that anyone's ever spent in space. Was 437. Days which was Valerie. Holly clawed back in 1994. Who spent over a year on the Mir space station that sounds terrible name that sounds just absolutely awful. The longest for any US ask not what Scott Kelly you remember came back in 2016. He spent 340 days in space on the International Space Station I could do a couple of hours in space from the album. I I think it's on our getting through and play a big area I think they go to go to air zone on the bigger space I write I know like stuff ET in I and a they they get treadmills up there that you and out of that got like resistance bands you can stay strong and everything. You know. And then you still lose just like it like the stuff on Scott Kelly when he came back with just lake yet all kinds of things where like is these bones were decaying in the snout like. Long term space flight is just not good for you. It's of that moment. Wild blueberries. Are you mean tradition on par with lobsters and lighthouses but prices to farmers get this guys. Prices to farmers blueberry farmers were talking about. Have plunged from nearly a dollar pound in 2011 these two get a buck a pound. They're now down to 25. To thirty cents per pound last year. What exactly is that our people are buying them no other states are now starting to produce numbers are you a lot of liberty Jersey bluebird a notable Barry fan all I love I don't enjoy it and I would amendment serial. And I really do Jerry's nugget and a layer idol a lot of bears fans. The way they know that there it we're we're planning the same number of acres of blueberries in Maine. But these imported to me to pollinate the blueberry field and the number of beehive it's coming into the state declined. By 20% from 2015 to twenty succeeds so the farmers are saying we can't make any money. Yeah I mean look when when the the price that people willing to pay your goods plunged by 70% and six years your had a lot if you don't really have a lot that you can do you you. You're in you're you're in big trouble it's. Which amazed I didn't realize at Camden Maine. Produced 400 million pounds of wild blueberries past. 400 million pounds the normal is the norm is about 215. With a short season where he can buy them in the store. You know the news items like a late June through late August maybe. The EU you can get that he'd get them other times a year but their their hot house yeah marries him there forbidding the expensive yeah so what you end up doing is this is a great time a year all the fresh produce you're getting in the store it's good to get watermelon right you'll eat watermelon till what Labor Day. And then it's pretty much yeah just about them blueberries. Enjoy only got him. Because 99%. Of the blueberry crop is frozen and they're not as it froze I eat them frozen that they are there no if they lose. A lot of their flee once they're frozen just excited lobster season. Lobster season and while we get lots of premature wrap it can but there's just some special bottle Austral summer true true. Up next we'll be joined by mark Michael brush from marketwatch.com. Believe it or not. Nuclear power plants are on the optics how can you as an investor. Make money on the fact that China and Japan are. Reinstitute a re instituting nuclear power that's our next topic from our insurer matched dot com studios. Barry and judge have the latest every day beginning at ten only here on the financial exchange RealNetworks. As we get all your estate planning becomes that much more important hi this is very Armstrong and if you have loved ones or friends that may need nursing home care. You need to protect yourself and your assets the best way to do this historic trust but don't listen to the fibs about having to give away all your assets -- control over your trust where the biggest above all which is you may have to ask permission from your trustee to use your own money I want you to know that none of these statements are true you don't need to give everything away you can stay in control and you never need to ask permission to use your own money Cushing handle and the experts in elder law ever in a brand new guide called the top of misconceptions. About Medicaid irrevocable trust this guy details thirty of the most common misconceptions about stay put anything you can get yours today by calling 8668485699. Or you can download it right now on our website legal exchange showed dot com that's legal exchange -- dot com or toll free 8668 or 85699. 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 before for 99 match many of our listeners don't know home then 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 they get all the discounts preferred customers like you can qualify for -- insure a match to compare multiple rates in carriers -- 84499. Match let's 8449. B nine 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 than money with just one phone call and one relationship. Call today 844 and 99 match or go online and ensure a mansion dot com. Hi this is very Armstrong and like you I'm watching president trump lay out his agenda very carefully because I know the decisions he makes may affect my clients on the fiduciary which means I make decisions that are in the best interest of my clients many of whom are retired or have reached retirement age as you get older annuities may seem like a popular choice to add to your portfolio and if they are you should call me right now to get my free guide the truth about annuities there're many to choose from and many are designed to provide income for life but there are risks associated with each purchase call 803934001. Gig you're free guide and learn the truth about annuities that's 803934001. We can download the guide right now at financial exchange showed dot com. 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 guarantees are based on the claims paying ability of the insurer. If you're -- real estate or property management company you need a banking partner that has all the right tools to keep your operation efficient -- 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 -- 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 -- ECH payments mobile banking remote check scanners and it's innovated to see rent payment platform -- bank has a team of business bankers that are 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 they're banking partner call 8776917900. Or email BDO at liter bag dot com for more information member FDIC equal housing lender. It's our daily poll question financial exchange showed does John. Vote your conscience there are just votes go to financial exchange oh does come in castaway. Michael brush thinks that there's money to be made in nuclear power. He's from marketwatch.com. And brush up on stocks dot com. Michael welcome to the show. It not bad not bad what's happened to the price of uranium which is integral to nuclear power since 2011. Yeah it is obligated to go big or worse being gold so it down to ground. The 120 range per pound from. Program is the most up pretty bright line. 27 need to twenty. And that's is that all because of the head Japan crisis they have the where they're reactors in the. Yeah it's mostly because that. It took a lot of demand. But your saying that Japan might be bringing their reactors on line going for. You know the court service they're clearing the way they don't need energy and that's direction ago. Absolutely it did a lot of he pledged don't dispute that you were that that have a big impact on. Oh. What about China. Are they building nukes. Yeah China and should see it. You've heard huge. Pollution problem and sort of look for anyway possible and also wanted to have taken it's definitely nuclear energy. Why would you just go Nat gas. They are during that two news. Natural gas issues little more subtle boat when it produced. It could be a lot of it is gate so not really such. EEE source of energy and by the way trying to cancel. Lot of natural gas problem it's really. That's gonna change or Mac cast market but that's a. So how many nuclear power plants are under construction today Michael. Global. I think this around sixty. So on base of about 460. Better or power generation. That's quite a big increase straight and dedicate. Martin net. He wrote utes in utilities so when they started playing in the lock in supplied extra unit of bankers. See everything on that exposure to money so. That he knew what their buying early. It to a lot of long term early. See you think uranium is gonna rise in price in the next few years. I think so you narrow I've made this call a few years ago. Pretty about it so I could be again it's always tricky thing to project any commodity purchase it. You know I I sort since he is letter reactors coming online by that. So how to lie buying uranium he would do I didn't go to the commodities market in Chicago it it would it would really. But I don't think you know its uranium you'd be getting America or the FBI. And over I think you're allowed to the group about to attempt. So you can zone you were eight which Ukrainian. Checkers that departure of companies. The problem with that one is that it has a lot of these kind of smaller more speculative. Ain't so. But it but it so that's worth well consider an and the big one spaces camco. Date they have to really premium mines in camp they have some problems. Lock in on. But they've really sort of chip in this state. Learn so and that's. I don't have dispose at my website and if you Google search my name. It. Goes. Yeah we got any hot over a brush up on stocks here you got a thing going there. Yeah. I do will give me one month. This one won't unstuck from Russia but it's. I would say. I think Biotech concern that can sting and I've been it's controversial name in 89 CRA I think balance in game. I and I in CY. Hit by text Haiti now end that's the courts time to buy group or stark it. Incentives like archers I think the news to you sir Knight it's about under right now. One of their key technologies sales but it I don't think you will like that aren't here but it's risky. All right but as always thank you very much for your time. Michael brush from brush up on stocks dot com and marketwatch.com. See you're not buying into the new idea I just. At some point it's going to make sense but I've been hearing about. The the rebirth from the growth of nuclear power and we heated to about eleven in Britain where the most advanced society in the world right. Followed by what candidate Japan and Russia and we know we're sports that's that's problem number one that there's nowhere to put the stuff what do dollars and don't send it to them believe it or not that's actually one of the smartest things that you can do just because the moon has very little atmosphere and so it's very difficult for radiation spread once it gets there what could go wrong. Mean I'd I don't know I. I don't know but I can tell you something wrong. Since this. Since it's on. You know there's a recipe for disaster CT I it'll be itching to see but it where. Just think about the United States I mean last week we're talking about millstone and Connecticut. And potentially active and shut down we had won Vermont Yankee right that shut down. Pilgrim in Plymouth Massachusetts shutting down. Who you talk about shut them down US puts out even right now with all the nukes that we haven't met 2000 metric tons of used fuel each year that we have nothing we have nowhere report. We don't know what to do with it most of it just so we're sending it to Nevada. They know that you Yucca Mountain never actually opened it got shut it bill proposal got shuttered just as. I know when actually wants this an animator and mayor of Las Vegas that he would not letting go authors and I don't play them I wouldn't want the stuff you know this is some of the nasty spell stuff that you have on the planet. United Airlines is launching a summer time flight. From Bradley to San Francisco this is to be well subscribe that the popular route that unity a lot of people. That wanna take it and it's a daily flight and see any in the one this is this an assault free. Like. Just say you know its pay extra if you want to get beat already did that make it pay extra if you don't wanna be. I'm I'm out either way but I think it's interesting I think I'm I'm curious to see if Bradley. As well if green continue to make some headway it seems like I put my money on TF green it's it's got closer proximity. He think about all the people that he used TF green. Eight people rate. Southern Connecticut along the coast he wants out of the pipe pretty much have the it's not that much further for me to go to TF green his call it. 45 minutes I get to Logan in maybe 35 minutes so it's like it's a push so if TF green. The team. A needy Logan and parking prices that are like action again camera would away as I think with eight bucks to park. Per night and TF green. And with and Logan yet to bring your home equity line of credit checkbook with these it's it's so expensive to market vote it's like forty bucks tonight oh it's not cheap. It's not cheap by deployed a team of real time grown up. He has to it was again probably about the same time post blind of Florida or something like and excited and there well especially where you drop it if it's not that much are you it was an extra ten minutes but it was so much less hassle it cleaner airport. Nice small it's easier and out you're done don't need to worry about it and it gives green again they've got some new leadership. I'm curious to see what happens with Bradley and they've been made some improvements the last couple years as well. No matter Brad. I don't know I have either. Ford at a Manchester born and TF green. And but I don't I failures were in more than anything just because if you get stuck somewhere it's easier to get back to move through east Providence. Ari when we come back we've got to trivia question for you along with the largest employers in every US state and more from our insurer match dot com studios. You've got Barry Armstrong. Financial exchange. Shall look 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 refinancing is all originations are managed by 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 four or 950 subject current approval leader bank a step ahead. Hi this is very Armstrong and what Q I'm watching president trump lay out his agenda very carefully because I know the decisions he makes may affect my clients on the fiduciary which means I make decisions that are in the best interest of my clients many of whom are retired or have reached retirement age as you get older and Moody's may seem like -- popular choice to add to your portfolio and if they are you should call me right now to get my free guide the truth about annuities there're many to choose from and many are designed to provide income for life but there are risks associated with each purchase call 803934001. Gig you're free guide and learn the truth about annuities that's 803934001. We can download the guide right now at financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated guarantees are based on the claims paying ability of the insurer as we get older. The state claiming becomes that much more important and do you have loved ones or friends that may need nursing home care you need to protect yourself and your assets the best way to do this this through trust but don't listen to the bids about having to give away all of your assets or control over your trust or the best on which is you may have to ask permission from your trusty use your own money you should know that none of these statements are true you don't need to give everything away you can stay in control and you never need to ask for permission to use your own money Cushing in Goldman the experts and elder luck have written a brand new guide top misconceptions about Medicaid or -- a couple trusts. This guy details thirtieth the most common misconceptions about estate planning and you can give viewers today by calling 8668485699. That's 8668485699. Or you can download it right now on our website at legal exchange showed dot com legal exchange showed dot com that website again it is illegal exchange showed dot com. Searching for the best savings rate leader banks through my account doesn't two point 058. 1% back on debit 10% bracket featured businesses and reimbursements brother bank's ATM fees to learn more about Zuma accounts call 8776917900. Or visit leader bank dot com minimum deposit to open under an annual percentage yield ten dollars two point 03% interest rate mass residents only he's been reduced earnings -- subject to change without notice member FDIC leader bank a step ahead 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 -- insure a match at 84499. Match let's pay 4499. Match many of our listeners don't know home and one or two cars that that describes you you're the perfect candidate for a free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates in carriers and 844 and 99 match 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 continued time stress the money with just one phone call and one relationship. Called today 844 of 99 match or go online and ensure a match dot com. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making music faster closing call 8776917900. That's 8776917900. Workers at leader bank dot com. Member of the SE equal housing lender stimulus number 449250. Subject to credit approval leader bank a step ahead. Like us on FaceBook and follow us on Twitter that's TSE show. Breaking business news is always first right here on the financial exchange radio network. The last episode of The Sopranos aired ten years ago this week it that's the topic of tribute today. What is the name of the Boston based Boston born actor who acted in The Sopranos and is a member of Bruce Springsteen. 68681. Listener with a correct cancer win two tickets. To the US senior open at this Salem country club. What was the name. The Boston born actor who acted in The Sopranos. It is a member of Bruce Springsteen's. 68680. You never in good shape. When Wal-Mart is the biggest employer in your state. And I went through this list I think Wal-Mart is the biggest in warrior in about 20/20 two states across the country that bad. Yeah this would actually be a phenomenal. Quiz to give people is give them. This map with just the logos of the biggest employer on them. And see if they can actually identify what these states are at a W fun test but yet you talk about where Wal-Mart is the biggest employer. Pretty much the entire southeast to go through South Carolina. Georgia Alabama Mississippi Arkansas. Louisiana. Oklahoma. Missouri Tennessee can talky. Indiana Illinois way. Arizona. When Austria Ohio West Virginia North Carolina I mean it's across the board pretty much. That you're seeing this year Virginia even it's just just about everywhere. One of the biggest employers in each US state what I find interesting is the states that are. Not heavy and Wal-Mart. There's no overall. There's no whether employers that that works its way California is the university California and Washington it's bowling. Organ Providence health services walk us through the New England states as I was looking at Connecticut was actually surprised to see this it's Yale New Haven health system where I thought it would have been. Electric boat and I would think India electric boat but they're not about electric boat pretty close there in Massachusetts its partners healthcare okay. In May its hand effort that's where they have a lot of their warehouses in. In mean yeah on New Hampshire is Wal-Mart okay that's not good New Hampshire what else we have you Rhode Island Rhode Island is lifespan system of hospitals and okay. What state was living out Vermont Bruno Vermont University of Vermont medical center so it tends to be that. If it's not Wal-Mart it tends to be a lot of the big hospitals in in various places or. Our universities of California University California Nebraska it's university. Of Nebraska. Michigan University of Michigan soon tends to be either you big state universities. You war. Local health care systems for Wal-Mart. We're losing about fifty to 60000050. To 60000. Americans to heroin overdoses and it's awful mean we live in New England which. I think four of the New England states are in the top ten for heroin overdoses and deaths from heroin. The problem that we've got is. Politically. There's a move to reach the repeal the health care but that would mean reducing the amount of money that's made available for. Trying to go through rehab. On when your on here. It in the in particular one of the the biggest areas that you would see this. Is Ian B roll back of the Medicaid expansions just because. What you see you there is that if you do see that roll back. What would happen is people would come off Medicaid in because of the ability for states to get rid of the ban on charging more preexisting conditions. Those people would then be looked at by insurance companies who would say you have a pre existing convict condition of addiction. And we'd be able to charge you more meaning this pretty much know culvert. Okay. This this is. One of the biggest problems it's facing us over the next decade is trying to deal with the growing problem of open yours we know that if you go back ten years. The scale of the problem is third decides OK it was still a problem but it was a third of the size the problem in terms number of deaths per year has tripled over the last decade. Okay. And doesn't show any sign of slowing down it docked a law enforcement. And it is rampant these across the northeast we northeast of a lot of it is in the northeast. Audits in the northeast you see a lot of it also. In West Virginia now where there's a huge problem where is lake is just a massive problem though some of these old mining towns as well I mean it's. It is really starting to get pretty hairy analog. Please him or hate quick announcement I wanna remind you that you are invited to join us for dinner that's next Tuesday a week from tomorrow. Chuck and I will be at the skyline at water place it's a fantastic wrap restaurant right on the waterfront. In Providence one finance weigh in Providence, Rhode Island that's next Tuesday. From 5 until 7 o'clock. Complimentary valet parking by the way will be available if you would like to join us this is an event being sponsored by WH JJ one of our affiliates. It's going to be a great event. Trucks gonna talk about the secret sauce as a relates to stock selection and building an investment portfolio. Todd Laats he will share some tips with you as a relates to a state planning an asset protection. In all be your master of ceremonies for the evening I hope you'll join us it's going to be a lot of fun we look forward to meeting you. The advent is free of charge gas free of charge no cost or if you do is call and make a reservation the phone number 800. 3934001. It's 803934001. Join us for our listener appreciation event. At skyline at water place it's in Providence, Rhode Island a week from tomorrow. 803934001. To make a reservation. Medicare. You were seriously paid millions of dollars electronics. Records push this according to an audit. I think the the word millions in this headline doesn't really do this justice when I think of paying millions of dollars I think maybe three million to five million or ten million. But it Medicare erroneously paid 729. Million dollars over a three year period. Two doctors and health professionals trying to get people to move to electronic medical records. And this is from the office of the inspector general from the US Department of Health and Human Services. And what's interesting here is that. Pretty much. These were all payments that were supposed to be paid to meet their hospitals or practices in order to try to get everyone over to electronic medical records streamlined system. The problem is. They really do when he documentation review to see if these places were actually water system. They didn't do any review to figure out if the systems they were putting in place where this candidates did it it was just a Leo we we did this week. And so we've caused all kinds of payments that should have been paid out actually and what's amazing here you know normally when you talk about. Fraud and waste okay programs. Always kind of book you know two to 4% depending on the program saying okay that's that's what we're going to end up with this because. We we know that we can't police ever even in the private even in the private sector that's what you get. 12% of the dollars they paid out were erroneously paid a 12%. Not surprised it's easy overrun by the problems not private sector nobody's money now in government's money bets on my mind there was just not enough done here and unfortunately that 729 million dollars not coming back now refer you know not coming back. Are you planning to take a flight this summer many of us take summer vacations we jump on a plane well. Airport security lines may get longer ahead of the summer season as the TSA tests higher security. Good idea they get that TSA pre checked by the way. Google get it it's like. And in particular in the northeast of Boston is one of the areas where they are. Testing these new procedures here so if you are planning on flying out of Logan International Airport at any point in the next few months. Do be advised that things can take a little longer as well as though Logan gets runway construction going on through which is made things. Lot of fun for anyone who's had to go back and forth over the last few weeks as well there on time percentage than terror. They're expecting to be done on 9 June 23 so it's post VO into the week and half what's good that's before the July 4 weekly yeah I like that airport will be busy. You know that I had I delays both flying in and out to visit my parents down in North Carolina was delayed about an hour and a half going out about an hour come back so he should of flown out of TF green should have now I would have been there at same time he had nonstop. I don't know why I haven't tried to I should put ground CP can. Mortgage rates are sliding to a nearly seven month low mortgage. Buyer Freddie Mac said that the thirty year fixed rate mortgage averaged three point 89%. In the week ending June 8 that's down from three point 94% I believe but fifteen Euro also went down didn't. Yeah we saw the fifteen year moved down to three point 16% from three point 19. And five year arms and now it three point 11 pretty much the same place that they've been in in recent weeks here. Larry coming up will be joined by Justin Bachman from Bloomberg we're talking about air traffic controllers if you're call last week. The president unveiled a plan. To privatize the FAA what does that mean does it mean. We seed money does it mean we have better performance from our airports. How did the pilots feel about those are all questions that will be answered in the next segment. In addition wanna remind you have the answer to our trivia question when we return from our insurer match dot com studios. The battle over the Trump's agenda continues to affect the markets and get the latest info on the sectors that are benefiting and those that aren't right here we've Berrian chuck on the financial exchange radio network. Hi this is very Armstrong and like Q I'm watching president trump lay out his agenda very carefully because I know the decisions he makes may affect my clients on the fiduciary which means I make decisions that are in the best interest of my clients many of whom are retired or have reached retirement age as you get older and Moody's may seem like he popular choice to add to your portfolio and if they are you should call me right now to get my free guide the truth about a new duties there are many to choose from and many are designed to provide income for life but there are risks associated with each purchase call 803934001. Gig you're free guide and learn the truth. About annuities that's 803934001. We can download the guide right now at financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated guarantees are based on the claims paying ability of the insurer. As we get older. The state claiming becomes that much more important and if you have loved ones or friends that may need nursing home care you need to protect yourself and your assets the best way to do this this through trust. But don't listen to the fibs about having to give away all of your assets or control over your trust or the best on which as you may have to ask permission from your trusty use your own money you should know that none of these statements are true. You don't need to give everything away you can stay in control and you never need to ask for permission to use your own money Cushing in Goldman the experts and elder luck have written a brand new guide top misconceptions about Medicaid -- a couple trusts this guy details thirtieth the most common misconceptions about estate planning and you can get yours today by calling 8668485699. That's 8668485699. Or you can download it right now on our website at legal exchange showed dot com legal exchange showed dot com that website again is illegal exchange showed dot com. 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 digitized 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 innovated to see rent payment platform leader bank has a team of business bankers that are 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 greater Boston's premier property management and real estate companies choose leader bank as they're banking partner or 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 mention agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match that'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 free consultation to make sure your property and family are safe and properly covered who also dig out -- the discounts preferred customers late you can qualify for call insure a match to compare multiple rates in carriers and 844 and 99 match -- 8449. -- nine match insure a match works with the leading carriers in the industry Mike Rabelo 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 844 and 99 match or go online and ensure a match dot com. Security suffered two securities America team members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Barry Armstrong. Showed Sodom. Breaking business news every day right here on the financial exchange radio network. I saw an article on Bloomberg did today if we title of it was we'll privatize. Air traffic control what you endangered. The report on that story was Justin Bachman and he's good enough to join us today on the financial exchange I just scenario. Aren't very good good so obtuse about the president's plan as a relates to the FAA place. Well the plan is one that dates to 2015. It was introduced. By a Pennsylvania Republican. And the president and his administration has signed on to. Sort of the broad outlines of the plan to put federal air traffic control in Q a not for profit corporation. And an independent board and to move that out of the FAA the way it has been for the number of decades. To the present credit that new but it he's definitely signed on. A champion of this idea. Is the theory that this is going to be more efficient and save us money. The idea is that it would be more efficient in terms of technology procurement so that. Very long drawn out process. Updating the nation's air traffic control system would would move faster. That's the argument that proponents give. Come in terms of cost it's probably not. A a huge cost savings because you know what needs to be done. Have to be done bite bite somebody and they're really you know to be Dave there's really no way to to cut what's what's happening. Arm but what could definitely occur that you would see that cost shift from different users of the system. And that's one of the big. The big point that debated this whole topic. Now this has been done in other parts of the world right where we're at privatized. I'm it has been done there's a number of ways to go about it in terms of how you view privatize the function. The one that's being. Offered as the most likely candidate is it done in Canada. And there are an agency called Matt Canada. Took over this process in 1986. From the government. And that's the one that the US airlines are really sort of pushing to emulate. Now is the you know candidate doesn't have anywhere near the number of departures that we have. For me would we had like nine point six million departures in the US. Got it's just it's it's absolutely. Different. Scale when you compare the two countries. And the US has is really still far above every other nation in terms of the volume even China. You're China. Bob you know China has likely Q about this but it's not at that point yeah. It does in the US alone make it about thirty to 40% of all departures at any given year in the correct. Brett cracked yeah look out looking at the overall plans one of the things that concerns me is I've seen and in a couple countries that have used. A privatized system. They've had to bail there there's system out multiple times and some taxpayers still end up on the hook there's no it asserts that that wouldn't happen correct. Correct yeah you you still have the issue of user fees are largely dictated by the state of the economy and how much air travel there is so. If you got a system that funded by user fees and suddenly there is big depression and recession what have you pumped your air travel can drop and certainly the user fees drop in the you've got a situation where. The infrastructure needs to be funded we need air traffic control but. The finances or not. Sufficient to do that so that's where taxpayers had in the past that there. Make it could happen and it in the United States as well that's one of the things that'll be debated. But I'm glad they were looking at this one question that I have that I'm not sure on Justin. Where where exactly is in her face right now between the FAA and the NTSB this doesn't change anything from the NTSB perspective correct. Right he had kept he is still an agency that that investigates. You know crashes were over there aviation. Highway what have you and and really the FAA it would not be giving up on its safety bureau ID the FB it would remain. The safety regulator for setting standards and protocols for forty aviation needs to duke. Did that change would really be happening. A different organization overtake. Take over the function of just controlling air traffic. Are they talking about using different technology those won't just be going from radar to GPS I didn't really understand that well. That is part of the debate an and a lot of that has gotten muddied because you have people who say the FAA needs to have air traffic modernize but not privatize. And so what we're seeing it start to take hold and a lot of the commentary is that debate between. You know modernize. Modernizing the agency vs privatizing the function yeah. And I think a lot of people you know would agree that they really do need to get their technology. You know procurement. Capital at a much. Faster level and and more cost effective. But but that's not to say that much would change with the private agency because. It's still the same technology in use you still need to get a bill and we're not talking about. Brand new assistant is really the public and stuff it's just who is who is overseeing that the implementation. Would that would the pilots think about this. Well pilots have a very open mind in the sense they kind of have four part litmus test that they put out. This plan and the the previous proposal as well. Andy you know first and foremost they want to have a say in in this system to make sure that it remains the safest is the one now. Which is one of the safer if you systems in the world so they also want to have union protections for. Air traffic controllers. And they'll go to the how a funny what happened so that's sort of the cost shift. They wanted to be equitable for the their numbers are not here disadvantaged by. You know whoever whoever gets a greater burden or lesser burden of that the cost. He can this be done by executive order does he need legislation to get this done. This has to be legislated yeah I think average click here order prior of already happened but this has to go through congress. All right thank you very much appreciate your time Justin thank you on that note I would say that chance. I don't see it happening any time soon the other the bigger priorities keep my we're still trying to figure out health care taxes infrastructure this kind of be a hearing anything on health care. I'm hearing all kinds of different things suffered some things that say that they are close to coming up with something in the senate hear those things they're not sounds like Mitch McConnell just wants have a vote one way or another to get this done you know just be able to move on didn't do the winner firm trivia and we did not Stephen van Zandt as tour who Bruce Springsteen's. Banned since 1975 so he was the units and the winner on that was Chris from Auburn Massachusetts who's taking home those tickets to the US senior open and make sure that you visit 27 team US senior open dot com. If your interest in tickets for yourself kids under seventeen get in free with a ticketed adult. USC twice seventeen US senior open dot com. Oil prices on the rise up 67 cents a barrel at 4650 that the NASDAQ the Dow and the S&P 500. Are all down about three tenths of 1% and eight tenths of 1% on the NASDAQ. Thanks for tuning into the financial exchange talk herself chuck Solder and very Armstrong. From our insurer match dot com Steve.