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Full Show 6-13-17

Jun 13, 2017|

Full Show 6-13-17 by The Financial Exchange

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I mean. This is the financial exchange with the very Armstrong and shots. Exclusive look at business and financial news affecting your you see the to a war. Stay informed and today about economic and market trends plus get breaking business news and every day. And now the financial exchange with the very Armstrong and shocks. The Federal Reserve. He's in a meeting today and they'll be in a meeting tomorrow. In financial institutions. Across the country and across the blue wool. Will be monitoring with great interest the actions and the thought process coming out of our Federal Reserve. Hi everybody it's Berrian truck with you here on a Tuesday morning in. You know it it always boggles my mind as to just how much power is contained within our Federal Reserve. Janet Yellen is arguably we think about the the the role she plays chuck one of the most powerful people in the world. She is and obviously the the ability to change the overnight raid in as well as. Buy and sell treasuries to move rates where she sees fit where the Federal Reserve open market committee sees fit. It does yeah it's it is a group that possesses quite a bit of power. Over markets I think that. In terms of its ability to influence long you know lasting change on an economic basis I don't think it has anything that. It doesn't have the tools to really did generate or stop growth. But I do think it does have the ability in the short term. To to move things around quite a bit. But it's mainly it was created to stop the bubbles was and feel like when you think back to win the Fed was created. Eight CE go way back goes you know over a hundred years it was it in the institution. We used to have bought bubbles in our economy every few years. And Natalie now we have them every fifteen to twenty years but there are a lot more predictable and they're not quite as severe as they were back in the eighteen hundreds Yemen. You you go back to you take a look at some of the things that we went through. In the seventeen and eighteen hundreds you have all kinds of problems because there was you know they were changed in currencies that were happening yet. You know we and the gold standard and you silver you know and in it yet all of these developments that. Led to. There really some pretty unfortunate situations where the eighteen hundreds in the United States and from. Pretty crappy time to be alive if you're an average citizen just because there was no economic stability. And I think that it gets lost sometimes we talk about. The Fed and its role today but people wanna be critical for Federer certainly is a reason to be in some cases they're conspiratorial. But in the broad scheme of things when you talked about. What the Federal Reserve is able to do and what it has done over the last hundred years ago. It has given you. An unprecedented run of overall stability. We win the week here from the Fed tomorrow what are we gonna learn these two items that they are gonna telegraph I would think. Two things that it it that the gonna tell you again it's going to be announcing where they project interest rates to be going over the rest of the year as well as in the 2018 and 2019 okay. And there are also gonna start talking about how they're gonna wind down the expansion of their balance sheet that happened under quantitative v.s. What does that mean for consumer you know they've got what four and a half trillion dollars. Of bonds is they bought during the last seven years the inflated their bond portfolio for fool would it would what does that mean. From the standpoint of the OK I don't treasuries right own tips he is is gonna have a dramatic impact on interest rates over credit reserves. No one really knows is is is the right answer my my gut based on what they're saying this the Fed it's been very dovish over the last decade. Both Ben Bernanke and and Janet yelled after him. Have both said that they don't want to repeat the same mistakes that led to the double dip depression that we had back in the 1930s which means they don't wanna raise rates too quickly. Now though is that more tax policy. In some genius thought it would be good idea reasoned and it was both you know me it was both an when you look at it. You know we have over the last decade we have had for heights and in taxes no we we have seen that it's you know you talk about what we saw during. Kind of that period from 2010 to 2016. We saw run ups in the in India and taxes so we have seen that and I think if that is very wary. Of moving things too fast Susan. What they're likely to do OK the Federal Reserve at this point has built up this. Rather large ballot seed they're the largest holder of US treasuries and mortgage backed securities they currently hold almost four point six billion dollars. Ian assets if they start dumping these things does that make the guy who down. If they don't too quickly spoke and that's why what they've talked about is starting at a gradual pace and ramping that up to make sure they don't shocked the market but it talked about doing this over thirty year period of time I've heard other four yes that they might do it over 100 your period time yet it. There's no. Great urgency he'd been no urgency at all no there's there's there's nothing inherently. Wrong. That there is something wrong with the Fed holding such a big balancing that here's how it works let's hit the fence holding four trillion dollars in US treasuries okay. All of the interest that's earned on those treasuries goes back to. The US government doesn't go out into the economy so it is money that is headed our Galilee inflates the deficit and it it doesn't do a ton to change the depth that's it's going to be the same no matter what it allows you artificially inflated at a higher level if you wanted to. But overall for the average consumer. I don't think this is gonna I think it's going to be nothing burger to be honest I don't think that there's going to be a huge impact. On the Fed trying to unwind this that think they're gonna do so slowly that makes almost no difference our poll question. And today is do you think mortgage rates will be higher twelve months from now. We've had four weeks in a row with declining mortgage rates and I think we decided yesterday. In and correct me if I'm wrong but I think that's average thirty year fixed rate mortgages round 389. Now. And the fifteen year with a Q reported 316 to open in that ballpark yet and in the ten year US treasury. Since the beginning of the year is gone for 2.4 five down 2.2 one it's a matter of quarter point decline. In long term rates at the same time that short term rates are starting to move up. And so dire that voted I said I don't think rates are going to be any higher grade do you think they'll be iron twelve months I don't I think I don't think they're gonna necessarily get much lower but I think you're probably right in this range right around. Right in what we've been talking about. I don't think you see any major moves over the next twelve months of thinking there's talk about that to go higher. I do think in the long run there could be a little appetite lower. What does this do to credit card interest rates. I go up a little. Probably bumps in the hearts I mean the car loans are gonna go that you probably see short term instruments like that bump Opel little bit I would think if you're going out to buy a car and you're gonna finance it over three years. A price should anticipate that. Two months from it generally takes them sixty days to bake in the injury it does what's what's interesting though as you look at the three year treasury okay beginning of the year was one point five. One point five right now now there's it's there's so given that rates on the tenure look at the tenured and tenure has come down books and then this and if you're trying to figure out. What mortgage rates are based on their based on the ten year treasury note which is I don't even motors today to eighteen to 22 point you here's what's a little nerve wracking when Iowa and it makes me a little nervous when I look at this okay. When you go back and take a look at the what we called the spread between short term rates in the long term it's OK let's go back to 2005. One month treasury was at one point 99 to ten years four point 23 management tenure four point two through we haven't seen that a long time as well okay we hear that that was 050 OK okay. You go out 07 so about a year out before the crisis really hit okay. The one month was at 479 to ten years at 460 that's what we call an inverted yield curve where short term rates are actually higher than long term. Suggest that people think the economy's gonna get worse and keep going forward into the future hoopla and a tenured and it's it suggests that people think things are going to get worse in the future so. We're not there yet but I'll tell you what makes me nervous. Is that spread keeps narrowing and eventually get to a point where. You know you say look the market's telling you that they think something's out there on the horizon and you gotta be wary of it we're not there yet okay. But every time you see that narrowing in it makes you a little bit nervous out there. Our text numbers 68680. And number you're asking when am I gonna start making money on my savings accounts and CD rates. Care to share. The answer is not any time soon unfortunately I I I feel for those of you who like to lob by CDs and put money savings accounts. I just do not think you are going to be getting a whole lot on the anytime soon. You might see just an angry peace in this rating. That they are mean especially we talked about Bank of America who was passed. Absolutely nothing through the terms of higher rates they are one of the worst defenders of this none Adobe too harsh on Bank of America own their stock. There's still one of the worse except that their stock isn't great it's not your fault it's not your fault. But I just prefer for people who are CD buyers I don't think things are getting much better and I don't either I don't either. Our poll question today will mortgage rates being higher in twelve months he knew or web site financial exchange showed dot com if you care to participate. You know the the one area where we are seeing higher interest rates are on some of these on line savings accounts for unity if you shop around it the problem is. It in the motivation is there so let's get 25000 dollars in savings account with one of the highest yields advertised that would be one point 1%. That's gonna pay you 274. Dollars more per year in a low interest. They might get a Bank of America so I mean that the and he did that challenges struck. You know people look at that this you know I guess I'd have thought that form online transfer money over. Which is on the convenience of you know and and frankly a lot of those online bank could never heard of them. And then you you put your money into the dark things I've had this experience anyway. We're up for the money into one of these online banks a park you know maybe 2300000 box and one of these online banks and then they change the rate a week later. That they did you change the rate from time to time bloggers I've I've used them for a number of years and and you can go back and if you look to them via 67 years ago was more attractive where. That they gave you a little bit more of that spread there but. Even on the online banks it's you know it's not a situation where he can make 45% it's like OK great I can make one and a quarter is it really worth the forming as he said. OPEC oil output jumps 336. Barrels a day this is a surprise folks during the month of may based on increases coming out of Libya Nigeria and Iraq. That is our next topic from our insurer matched dot com stadiums. Stronger. So. Bringing you the best in business and financial news every day this is the financial exchange radio network. If you're real estate or property management company you need -- banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and real estate space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitize paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as ECH payments mobile banking remote check scanners and it's innovated to see rent payment platform leader bank has -- -- -- 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 their banking partner call 8776917900. Or email BBO 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 bibs 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 and old and 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 and legal exchange showed dot com legal exchange showed dot com that website again that is illegal exchange showed dot com. There are strong here and I'm joined by Jake too who's a vice president at leader banking were talking about the housing market the housing market as you know. You know short of supply. Long on demand. And Jake for first time homebuyers. What would your message to the young couple hours just somebody's out there looking to purchase their first time home. Yes oh you know for first time home buyers what we are telling them are a couple things one be patient. Yes you know we we see a lot of first time homebuyers who are making five and fifteen offers. 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 do. Paying more than the asking price and a yeah it is quite common right now in and in some cases they're actually having to to research other towns and rooted in considered first because. You know it's very can't afford their dream hall 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 are really excited about this product we just launched it is cult leader thirty. And essentially what it is fixed rate loan. Where if you sign up to pay your mortgage automatically electronically that everybody does for the first year. You get to lower your interest 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. When I bot. A hole. And when I've refinance my properties of always use leader bank near terrific bank you can call them people free at 8776917900. Or visit them online 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. Security suffered through securities America each member finreg SIPC and advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. On top of breaking financial news by becoming a member club carries brigade log on to financial exchange does come in sign up today. But. Production across OPEC rose by about 336100. Barrels per day. 232. Point one million barrels per day this according to a secondary source. Led by increases from Libya. Nigeria. In Iraq all of which are exempt from that OPEC deal that started last November. Yeah and some even wall OPEC is getting up pretty much record cooperation from the members who are required to participate in the steel then you are seeing these other countries Libya Nigeria and Iraq. Pretty much throwing everything they can't app production right now just because all three these countries. Are pretty dire straits as far as their economic status. They're all going through some very challenging times. You know a number of home pretty much all three have some pretty significant internal strife dealing with the you know it's utter surprise cereal or I'm actually quite surprised and impressed that they are able to. Increased production under the circumstances that are operating I would imagine a lot of their security budget is going towards protecting you know there oil industry just because the only thing that's keeping them afloat in this remarkable that they are able to do that. And then another announcement this somewhat of a surprise Saudi Arabia. Cuts its US oil exports. And they only cutting on what they'll sell us. Yeah eight it is interesting is that they are they're cutting their sales to the United States. And they're doing this is because the United States have been one of the biggest country building this glut of oil actually. And so they're trying to do this so that the US starts to eat down its inventories and bumps the price of oil back up but isn't gonna have the effective causing more US production and accused and I'm I'm looking at distancing myself. OK we you don't sell after oil first of all have plenty of other countries ourselves. Right he. It he'll be production that will step in immediately. Venezuela would love missiles and broad scheme of things Saudi Arabia's between a rock and a hard place OK because there again their only valuable resource. Is this or netted nothing else if they cut production too far as you said look US production come on line at a very low price right now it's you you're getting down when he had a business. You know it when you talk about in price somewhere in that forty to fifty dollar range so. Saudi Arabia can't cut too much because justice for extra US production they can't just don't pop every thing is that all of a sudden and getting the Max value for. The only product that they have so. They really don't have a ton of places to go at this point that they're. Paying for past sins I mean during the last thirty years they should have been developing some other alternatives. To their economy remember study in this and business schools like. What could the Middle East do besides oil and this is thirty years ago. Unity would what do you do with all the cash it's coming in to transform your economy and diversify your economy they've done nothing. I mean pardon the pun on the Saudi Arabia other part of the pun but is this a classic case if you never really one well too deep no like you have to diversifying to different things if you're so dependent on one industry. For everything. What happens when someone comes up with an alternative and tough to cut your standard of living right you know it's like a guy that goes for making 200000 bucks a year. To making 50000 dollars a year. Break up with a got to go from 80000 a year to make in 20000 dollars year. That transformation cutting your lifestyle is it is a big deal in and look at the saudis that the saudis wanted to. They come in they can cut production by five million barrels the pricing go for the next six months. But US production is ready to come on line to replace the in the and other global production because the technology and techniques have become so advanced. That the cost and in the speed is just a lot better than it used to be led leads into our next story shale oil production in the United States is expected to jump again in July. Making the fourth straight month. That the Department of Energy has forecast monthly growth above a 100000 barrels a day to say about that that's growth of 100000 barrels a day. Far as I'm concerned you can't pump it fast enough. You know the sooner we can become energy independent and this is a dream goes back sixteen years to when George Bush and Dick Cheney office right knee and I think that was part of their. Agenda being hit forget you ever noticed nobody gives these guys any credit. For for the energy policy that's how long it takes to really influence energy. Yeah I mean it was back at it was either 06 stroke seven win. Fracking was effectively authorizes them in and first started in the US here. And it again it's a decade later that you're finally starting to see. Not just the initial results because obviously the fracking boom had a major impact in that 07 to kind of thirteen range. But the last four years. And it's largely due to the pressure from OPEC just you know again pumping from kind of thirteen to fifteen. Because the cost of oil came down all the practice came out and said look we need to figure out how to do this more cheaply we can't do it for seventy to eighty dollars a barrel anymore we've got to get our costs down. They're doing that now they they they are figuring out how to get lean. And this second wave of the fracking revolution. One of the most important things. Over the next fifteen years I think as far as US energy security now men degree and an innate eaten whatever we have the Canadians and a oh exactly yet it's not sharing of technology now known candidates a little different because they don't have quite the same in terms shale deposits and it's a lot more of the tar sands in the oil sands which is expensive if they still having gotten the cost down there to where they need to and it's also exit dirty process to. It's very is that it's really expensive. We've got is Batman fans who it was that I think when you were kids and I think it was. No I didn't really watch the cartoon bad man or this item last. That man or anything like as a sixties thing anyway. Few days ago we learned that Adam West the actor best known for his role in the best net man televisions yours passed away at the age of 88. For testing your knowledge about all things related to the back man franchise. What is the name of the fictional company owned by bat man's Alter ego Bruce Wayne. Our text number is 68688. You know the correct answer that question well you're gonna win yourself. Two tickets to we are given up the senior golf tickets to return the of the day and we certainly there are two tickets to the US senior open. And that is at the Salem country club. Nick Faldo Fred Couples it's it's it's a good take its that's June 26 through July 2 at Salem country club. Anyway if you wanna win this take it's just been the first listener with the correct answer tech's number 68680. What is the name of the fictional company. Owned by bat man's Alter ego Bruce Wayne. JPMorgan. Removes NBC news ads over meg and Kelly interview with Alex Jones. Yeah what they're doing here is for those not familiar with this story is Alex Jones who runs. A new website that pretty much. As a whole but crap on it then is going to appear on making Kelley's new show this weekend I believe it's the upcoming weekend and JPMorgan has come out and said. What we don't want to be advertising on her show. As a result of this interview that's going on. What are the most heinous cleaned that out and made one had to do these new town shooting yet he's pretty much said that that shooting never happened he said the shooting at a Colorado never happened he said 9/11 was perpetrated by the US government entities that hold ups things. Well let's not get many more tension. And he is do that did JPMorgan Chase pulling their funding. Megyn Kelly's show she's trying to be edgy she's trying day because they fear that first interview with Vladimir Putin is there between being edgy and just kind of putting yourself and it's army it's like if someone comes out and says the move made agreeing cheesy gonna put him on just because you know people laugh out of Obama on not made a double if we put him on. Up next we're going to be talking about a single injection conquering PT EST this is. Groundbreaking next from unsure match dot com studio making your Smartphone even smaller here I don't know. Left my surgeon financial exchange show in nineteen Jordan who who plays stores this is the financial exchange radio network. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of rent today we zeroed leader banks all mine rent collection tool. 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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 mystery 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 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 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 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 it is illegal exchange showed dot com. It's not too late to get a great grade and whole 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 a pastor closing calling 8776917998776917900. 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 you're 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 pay 4499. 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 do get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match let's 84499. Match insure a match works with the leading carriers in the industry like our bella Plymouth rock and more. Their license for all types of insurance and continued time stress the money we've just one phone call and one relationship. Called today 84499. Match or go online and ensure a match dot com. 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 estate space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitize paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as ECH payments mobile banking remote check scanners and it's -- to see rent payment platform leader bank has a team of business bankers 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 call 8776917900. Or email BBO at leader bank dot com for more information member FDIC equal housing lender. For Wall Street watch a look at the market's performance so far today back to back Arian jog right here on the financial exchange radio network. We're joined now. We're joined now by Mike Armstrong for Wall Street watch might get the happier we know that tech stocks took a beating on Friday and Monday bouncing back a little bit today. They are you have like you mentioned that tech stocks overall down over 2% of the last two days today. Up pretty considerably up over 1% so the other big guys lead the way Google Amazon FaceBook Microsoft all up around 1% that. Federal Reserve meeting tomorrow I'm guessing we're pretty much a lock to go for higher rates at this. Pretty much did in 99 point 6% probability of between five basis point interest. Rate hike tomorrow so that being the target rates from one to one quarter percent the after the Fed. But struggled struggled a bit at Cheesecake Factory here of the stocks down 10% today. And what's interesting is in their quarterly job report. They blame this on bad weather reducing patio usage. Yeah and that doesn't seem to be. You know really bought by a lot of the analysts and clearly not their stockholders that you mentioned the stock down 10% but comp sales were down 1% vs an expected rise by one point 7% CO did blame bad weather. In the take a look at a lot of these stores are inside shopping malls I think there's a lot more an issue than just a quarter of bad weather here. Very good Mike thank you for the time. Mike Armstrong that might be my favorite fast casual. Is that what it's called Basque national. They'll let that sit down it down I love to ski I don't gold it is good it is pretty bad for. You know why there there restaurants are so big. It was invented by two well off back guys who always felt claustrophobic and restaurants and so they made everything huge so they would feel comfortable. I I just in their menus that you go a whole year on their menu and not do the same thing twice surprise that you know the biggest knock on Cheesecake Factory Jewish into line. My ego that you have lines up you go in they give you that buzzing thing use you know yeah and Peter wait thirty minutes to get a table and when I used to go down to while foxwoods decent that we stop Cheesecake Factory in Providence on the way that was kind of our pregame meal before we got down 21 to lose to foxwoods to lose money yet. Anyway that's the the my experience. That man's secret identity is Bruce Wayne and American billionaire Playboy philanthropist in the owner of wean enterprises. And the winner on that question is denial from Fall River denies taking home two tickets to the US senior open and our trivia contest today. Is brought to you by the US senior open taking place at Salem country club. It Peabody on June 26 through July 2 come see over a 150. Of the world's best fifty plus golfers. Including Tom Watson Nick Faldo and Fred Couples kids under seventeen. They get in free with a ticketed adult and for tickets and more information. Visit 2017. US senior open dot com that's 2017. US senior open dot com. There's something called the national center for post traumatic stress disorder PT SD and we've all heard about it. But in less sure military member worthy you've got a family member. That's serving in the military I don't think you fully appreciate. Just how big an issue and how they challenges. A weapon somewhere between eleven and 20% chunk of Iraq and Afghanistan veterans suffer. From PT SD in a given year. And they think. They think they are on to a cure it's called still still late gangly and blocks. And it's been effective in treating. PT SD in the have been testing it on Navy SEALs and green berets. Yeah and the these are injections that have previously been used up arm pain and shingles and and what they're doing is apparently I don't know the exact mechanism. But somehow these shots in erupt messages. That gold through nerve fibers and in doing so. They're trying to block that fight or flight response from happening. And so this is a large scale trial that they are undertaking right now seeing if this is something that can potentially. Either. Completely eliminate the effects of PT SD or simply reduce it just so that. It doesn't create such a burden on veterans who were suffering from the works they get a unity the they've had good success in the trials it's just a matter you know there. They're not trying to monitor is long term. Any side effects you know the usual rigors through the program that. Yeah what's interesting here is that it's again this is the first large scale trial that you're seeing here. And it largely is going through outside doctors discuss the army won't necessarily sanction it just doesn't want to put its own troops through that moon you know with their with their guidance. If you're a real estate or property management company Unita banking partner that has all of the right teal. Tools to keep your operation efficient leader bank is one of the premier bank in the property management and rule states space. They offer 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 rules they clients such as EC eight payments mobile banking remote check scanners. And it's innovative see rent rent payment platform. Leo bank as a team a business bankers that are on call to help you and they'll come to your place of business to make it easy as possible. That number to call if you're interested in these services is 8776917. B 900 that's 8776917900. Find out why many of greater Boston's premier property management and real estate companies choose leader bank. As their banking partner call 8776917900. Or email BB EO at leader big dot com for more information member FDIC equal housing lender. Let's talk about the fastest growing cities. In each state it will look at the New England states of course that's where primary interest this. Interesting to note that there is no fast growing city in Vermont. Know for whatever reason we don't know exactly why the US Census Bureau did not include any city for Vermont on this list well it's because there is no that's grown to. What is he is you in in your other states I believe Bob Rhode Island and Portland Rhode Island and Maine both have the slowest fastest growing cities Portland Maine in Providence, Rhode Island point 1%. Manchester, New Hampshire comes in next to point 4%. Danbury Connecticut at point 9%. And Somerville Massachusetts at one point 4%. The fastest growing municipality in Massachusetts despite the fact. It's already the most densely populated municipality in all New England. But take a look at some of these others they all via its nutty Conroe Texas is growing seven point 8%. Buckeye Arizona which is a suburb of Phoenix is growing at four point 8% Greenville, South Carolina five point 8% now the Bonita springs four point now. In looking at those in number of them anyway will castle rock Colorado three point eight is it retirements. Yankee Irvine California 4% Henderson Nevada that's a big retirement community at that point I think a lot of it is retirement especially Greeneville I know always a major center for retirees Bonita springs again major center for retirees lot of big developments that have gone on there affordable. Yes because I'm looking at Ben organ and never even heard of Bend, Oregon but it's growing at four point 9%. Meridian Idaho. We'd like why would people moved to meridian Idaho four point 5% partly. Well given at least in some of these cases is because they're so tiny to begin with meridian. Only has about 70000 people anyways so it's you know relatively small. Cities so that just look at the northeast theories EU it is particularly. Ever let's get out of town. Did you know you even get even incorporate New York State that this right oh yeah is it and Pennsylvania. New Jersey need to you got very modest population growth. In the northeast. You really do it's it it's just everyone is continuing to push away from the northeast I think the biggest things when he talked about people getting older. It's a cost it's cost of living and beat. Italy it was due with the snow in the crap anymore you know but you still wanna be real around your family and my wife and I have Muster is left. But I I'll be real curious to see how your mom you know bonds once you have kids you have five kids were around. Your mom might decide back to Boston I don't think five sapping any time soon so. We'll pass for. Will pass them. Apple and Tesla shares are two of the biggest shorts in the world right now now. Before we dig into this let's describe let's explain. His most investors don't short stocks you know the it's a dangerous game and I'm not that I'm not advocating I don't want your run out and start shorting stocks books. But right now there's a lot of short interest these two companies apple and tussle. So before we talk about that explain to our audience what shorting a stock means and why it's so darn interest and only eight. Do so darned dangerous I know you've done. Yet the way it works effectively if you go to short a stock is your betting that the stock is going to go doubts the mechanics of how it works you go out you effectively borrow this year from someone else is someone a certain time yeah I'd be doing if the snow you can you can hold for however long you want holes but they charge you interest when you go out and borrow that should she go out you bar that share from someone else and you sell out into the market as he sell it right up front. You receive whatever that prices. If the price goes down OK regardless of what happens down the road. You have to then by that share back at some point and give it back to the person that you borrowed from so what happens if the price goes up let's say you have to buy it back okay. Now you're buying it at a higher price than you already sold that rate you lose money if it goes up. Price goes down okay you buy back cheaper NC given back can you make that profit less. The entry and you have to pay okay what do we use Tesla is an example so take a look at Tesla shares are apple is trading. I think apple is treating and about 150. The Tesla. Play a tape I was gonna shortstop and I'm not. I would sure consider -- for threes 370 right now it's at 73% this year OK and so let's say he thought the stock was gonna go down okay how much this year it's at 73% that's it started the year that is now got a market cap on sixty billion dollars for its you're banking on their ability to become the standard. For power in the future that's why would you buy it's you you know buying a car company at that value I borrow the shares in and I sell them for 370 dollar not paid interest what kind of interest and enough detail on something like that with a high short interest you're probably paying 10% a year somewhere in that well. Okay Steve Engler big bucks a year ago. So if this thing goes to 500 dollars you're out in let's say takes a year for yourself goes to 500 dollars to get a bite back for 500 and pay interest all law that's running. But if it goes to let's say goes to 200 then you've already sold for 37 do you make that 17 the share profit. And and yet pay that it facility make a 140 bucks a share in the U shorted ten shares you've made 15100 bucks. And there are companies that specialize in yes there is a near most of Lamar. You know high hedge funds and private equity firms. And some of them you know it's kind of dirty pool because. They'll take a big short interest in the company. And then they'll leak the story or they won't need a leak had just come right out and say I'm trying to remember the guy out in California we've got Muddy Waters who goes out and the there area hedge fund that does this is awful him to do is try and remember the company uses Lumber Liquidators. You might have been Lumber Liquidators. And what that yes you know they just a lot of the stories ended up being false to you know on lumber liquidity or well the biggest one was true. And minor. But it made a lot of money. Yeah I mean you see this quite a bit you know we've we've seen the the shorts to come out bill Blackman came out with Herbalife you know any you know you say it's a pyramid scheme it's pyramid scheme and look maybe this I don't know Carl Icahn was in the other side though they are battling it out they they have some great battles on CNBC like it was phenomenal television. They up next ten island from Zacks joins us we've got to stocks that you need to know about. From our insurer match dot com studios. The financial exchanges hello. Bond FaceBook so make sure like your page and watch 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 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 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. Security suffered through 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. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets our friends -- the insurer imagine agency can prepare personalized plan that gets you the best coverage of the best price calling -- match at 84499. Match -- 84499. Match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for a free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers like you can qualify for -- 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 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. There are strong here and I'm joined by Jake too who's a vice president and leader banking were talking about the housing market the housing market as you know. You know short of supply. Long on demand. And Jake. For first time homebuyers with what is 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 would we are telling men are a couple things one be patient. Yes you know we we see a lot of first time homebuyers who are making five and fifteen offers before finding out now and offers except it's extremely. Okay. And so they have to temper their expectations. Often times they're they're paying more than others have to pay more than the asking price and a minutes is quite common right now in and in some cases they're actually having to to research other towns rooted in. Considered first because. You know it's very pad can't afford their dream home exactly. I'm getting we're telling first time homebuyers to really be aware of all the mortgage products that are out there that are relevant to that. Tulsa but this leaders thirty yes so we're really excited about this product we just launched it is called leader thirty. And essentially what it is is fixed rate loan. Where if you sign up to pay your mortgage automatically electronically that everybody does for that 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. When I bought. A home. And when I've refinance my properties have always used leader bank near terrific thank you can call them told free at 8776917. B 900. Or visit them online at leader bank dot com to learn about their mortgage programs. 8776917900. 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 go to financial exchange showed dot com and click the listen. Then click on demanding catch up on every segment. You'll also find podcasts of all of our poll shows just punch up better listen but who had financial exchange show does come. It is time for stock talk here on the financial exchange tip an island from Zach joins us now. You'd talk about a couple titans in the tech industry. Tim thank you for joining us. I. Tim let's talk first about Microsoft this is a company. That pretty much since sat in a Della took over as CEO back in 2014. It seems like they really have not done anything wrong the company has almost doubled its market cap in that time where do you see them go from here. Absolutely. Interesting timing actually took the position personally myself in the name about that same time. What happened at that point was. Microsoft was actually. Looking at and sitting at the autumn of that are. Margins Michael Bolton from a gross margin perspective as well as an operating perspective. We're right now in the third inning a massive margin expansion with revenue growth and earnings rose on the rebound rapidly as the multiple get a Microsoft does is currently holding about a 116 billion in cash with warrants subsidiaries. I its competitor to the cloud player at Amazon the largest enterprise software solutions provider in the world was the windows and and you know this France. So currently it is priced at about us up 10% market and play growth rate at all of the design that is actually elation model here at act that used to processor institutional. Based. And it's currently forecast to grow revenues at between twelve and fourteen cent and that included two to 3% share buyback. It's extremely undervalued at this point especially if you consider that it's got to yield. Basically a rarity. With the with the ten year so adept at that you're also battling it income that you were participating in this. Market expansion with it was with rapid acceleration revenue. What what's the biggest potential downside for them. Biggest potential downside from Microsoft it is he is is they're not able to view. If it is to increase those margins those gross margins operating margins really need to rise that literally sitting at an all time record lows. And that it's certainly be a drag on Microsoft earnings stability. Outside of that any major slip up in in their actors server technology. Any any resistance to the uptake of office to sixty again they're just they command a little bit of a premium in the market because they are that your rock. Well it. Infrastructure play. Technologies so. I think it's fairly limited downside now perspective. Just a great great opportunity overall especially when you consider their position. And you know. That the Constant Contact for arm and a reform and the repatriation. This is huge team in this companies as well positioned to take advantage of that. But talk a little bit about Google we only got about a minute left this company. They grew revenue about 20% last year where do you see them going over the next year to. So interestingly enough with Google obviously in the game needs no introduction. Many people look at the price has a thousand dollars. They're they're advocating that right alongside Amazon it's trading unit to point to multiple right now on over earnings. I take in compare that with a 20% growth forecast is extremely cheap so what I like to do it daily to look at migration. And it's effectively is taking that the young over and dividing that by the work that's grocery. When you do that you're looking at those as stock trading at 16%. Discount. To the market weighted S&P 500. You're giving it 16% discount to the broader market. And that stock is literally growing earnings and revenues that 20% I would say there's just there's just great upside not only in the technology sector itself even though. The tech sector has risen a lot recently. The Google and Microsoft name urges that they should be part of Maryland portfolio corporate practice. Very good Tim thank you very much for joining us today thanks to an island from Saks the two companies we're talking about Microsoft with ticker MS FT. Cool rather alphabet with ticker GO OGL. I'll tell you I don't like Microsoft you know I know a lot of people are piling into the stock. But this company has a history making some of the dumbest acquisitions on the planet who is CEO when they bought linked. Does that under Ballmer is that I was naive that was Ballmer swan song we take a long and bloody disaster and countless believe your half guard no that was like three years ago now. Made a big dust on some of the dumbest things in corporate history when you see when they get they were I don't know that was that was under the Dell that was about two years ago. I'm not an option. From the left it to just me just me you by if you want to. Markets are up Dow's up fifty points boils down 31 cents a barrel in the S and p.'s up four point. Shots not a Tucker Silva very Armstrong from our insurer match dot com studios. 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 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 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. Dirty suffered through 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 music faster closing call 8776917900. That's 8776917900. Or visit leader bank dot com. Member of the SE equal housing lender and the lowest number 449250. Subject to credit approval leave your bank a step ahead your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by your bank's local underwriting process and teams for additional information call 877697900. That's 8776917900. Or visit leader bank dot com. Member FDIC equal housing lender and Miller number 449250. Subject to credit approval leader bank a step ahead you're financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insure -- -- agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for 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 in carriers and 844 and 99 match let's 8449. -- nine match insure a match works with the leading carriers in the industry like your bella Plymouth rock and more. Their license for all types of insurance you can save you time stress the money with just one phone call and one relationship. Called today they candle and. With your legal exchange quick tip of the day tied 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 a sea of brokerage account and it has dividends and income where 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 trusts that the rate of taxation is higher if the answer is it's false but again. The misconceptions. Around eyes 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 durable will trust they should. Verifies. That is in fact they grain to port trust absolutely go back if you if you been paying taxes at a higher rate go back here draft. And make sure that you asked him as an grant toward trust. Ours our current tort trusts okay so what does that mean in English that means that all as you've said bury the capital gains the interest the dividends the rents anything that's generating speed this trust is taxed to you. As if you were the owner for income touched before so it just flows out of the trust and 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 blood line all while reducing your state taxes requested brand new guy from Cushing handle it's the top misconceptions about Medicaid. Irrevocable trusts 8668485699. Can download the guide right now by going to legal exchange showed dot com. Or call toll 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 we just make sense give leader banker called them 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 same 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 dole and the experts and elder luck have written a brand new guide top misconceptions about Medicaid or rev it will 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 a loan from leader bank they're Jumbo loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinance this all originations are managed by 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 meter back 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 estate space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitize paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as he CH payments mobile banking remote check scanners and it's -- 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 call 8776917. To 900 or email BBO at liter bag dot com for more information member FDIC equal housing lender. This is the financial exchange with Barry Armstrong and show itself you're exclusive look at business and financial news affecting your day your city your own. Stay informed and up today about the economic and market trends plus get breaking business news every day. And now the financial exchange with the very Armstrong and chuck Exxon. The stock market is remarkably. Com given it is indeed he wore a Federal Reserve announcement. I everybody it's very truck with you here on a Tuesday in. You know the Fed is in their meeting today. And you know if you go back to Federal Reserve chairman's to Alan Greenspan everything was a mystery everything is the being used to. Literally they would. Photograph his briefcase as he used walking into the meeting. And they would say well the briefcase is really thick that means you gonna raise interest rates and if he doesn't have much in his briefcase if it's been. Then that means they're not going to raise interest rates and it is just absurd and and to his criticism. Allen did not do particularly good job managing the Fed and in in in in terms of if communications. So now it's a whole different ball game with Janet Yellen and Ben Bernanke be. I think starting with Ben Bernanke I almost feel we over communicate a little bit men and I think that they tried to walk to narrow oval line. But obviously it's been a dramatic departure and if you. If you want to clear sign of this you can Google around and look the average like the Fed's statement and back when win. Greenspan with rang the Fed. They've pretty much put up two cents tape raising rates this month we expect to again next one that's pretty much all the they would say. All of a sudden with Bernanke started getting you know paragraphs and pages in this. What that was all in response sued the criticism of Greenspan he was very secretive. And use this obscure language which he acknowledged after departed via fed said it was all of gibberish like he did literally just met with reporters. The in it it's it's interesting to see that the changes as you go from one Fed Chairman to the next. And in particular Greenspan one of the things that he was most criticized for I think was back in utero three Euro four. Is he said that more homeowners should start taking out adjustable rate mortgages now in that was like right before. It all hit the fan heading into 2007008. In and he would also do things well that actually turned out pretty good on the streets and now. Well he's taught you how to get there if you started out it was great advice if you didn't sorry didn't mean to but yeah. Minor detail minor detail the the death saying that. You're you you look at with Greenspan who is he the language that he would use in the in his statements. Was just remarkable our members testimony from front of congress he would just like it was. He congress and ask him questions and I think he did this intentionally he would just teased them with these answers. That they were impossible for them to understand there was no meeting too many of their responses that he would make to congress. Yet it seemed like some of his statements he just kind of throw stuff out there I'm just pretty much BO he was smarter than everyone else in the room but he just didn't want to take into questions. Anyway I wanna talk about apple Apple's suffer doing it's a 7% plunge in value during two day occurred time their shares have traded as high. As 156. Dollars this year and last year they're currently trading at 145 what changed fundamentally. On apple. You'd need to cause a 7% decline. Nothing you know the whole whole bunch nothing pretty much what we've any stock you're trading on sentiment man in particular. With your big tech stocks tend to see that more you know more be more prevalent just because. They're more growth oriented apple isn't necessarily in that situation. Just as apple has. Almost become a value company at this point you know you talk about. There they're growth. There revenue shrank to 2060 are yet they they did not see growth in fiscal two point sixteen actually just because 2015 had been such a good year for them so. You know with apple they they sold off a little bit I think just do get a couple. Investment banks cannot say hey you better watch it with apple get a little cautious. I think it's a whole bunch nothing in the long run Fiona Apple before. Nothing changed it's changed your mind if you didn't know before them nothing really changed must maybe you're you're at your price where you wanna buy in now. Now GE shares popped yesterday. And Iraq by any good about 4% during yesterday's show chuck and I were speculating. As to why Jeff Immelt was departing now. The conclusion we came to was that he was forced out there as it did the board. Was getting a lot of pressure from activist investors. And I speculated I thought you might be Larry Fink has it took a look at how many of the shares are owned by black rock. Turns out I was wrong it wasn't no alert think it was Nelson Peltz from try and fund management. And he wasn't outwardly saying that he wanted. Jeff Immelt gone but he made it very clear that he wanted the company managed in different faction. Yet it it seems like that's the case and so based on this it's reasonable to assume that health ended up getting the guy in there that he wanted. Running GE going forward by the way the new head of GE John Flannery big Red Sox fan apparently. Grew up in West Hartford big Red Sox fan apparently and maybe the company we do a little bit better now you have back in a friendly you know friendly I wonder if you if you settle in the Boston area I would think so at their I would imagine I would imagine it would just be a good sign for leadership Griffey ended up settling somewhere in the box I try to figure out worries living now. And I couldn't what I think in my beat Washington Immelt might be placed on comment about a year ago how that's that is what I like eighteen million dollars or something like that we critique the because I thought it was a little too. Flashing gaudy for my taste I didn't think he had so I don't think he sold his house in Fairfield communities. Who's got both now he's got to have a months a mansion in Fairfield. That he can download now he's got a place in Boston now maybe he wants to stay in boss little one in Boston he could flip and hurry. He thanked them column of address is good tonight it's it'll move the well like I will see it did that. I wonder what his plans are if you heard anything in terms of what Jeff Reynolds gonna do in retirement don't know I mean is Dartmouth I would be surprised he makes his way up there in the to some that the business school maybe. And thought of that then he could just open up that talk or something like that. You really like you don't know where these guys have their family roots you don't know if these kids in college up in the area could have kids in prep school I don't know if he's Ohio guy originally. Jeff and all those he's an Ohio guy and then now went to Dartmouth and then afterwards went to law Harvard Business School you can get up at Harvard Business School don't be surprised against teaching their their do nothing like that. He would push for. On I don't applaud politicians very often as a matter fact that all the great deal of disdain. For politicians but on and who applaud Pennsylvania Pennsylvania governor Tom Wolfe. Signed a pension overhaul bill on Monday. That the nonpartisan. Pew charitable trust says will be one of the most comprehensive. State level reforms. In the United States and get it folks this is what he's doing. In with the legislate couldn't do it on his own with the legislature what they're doing is they are replacing. Public pensions for new hires only with 401K plans. I did on this soapbox for twenty years and I know many of you who work republika employers are sick of hearing me talk about it. But these unfunded pension liabilities. Are major problem Pennsylvania's. Unfunded pension liabilities like 6070 billion dollars that they don't have the money. Yet the the one group that this on new law will not apply to state troopers and correctional officers will still be going into the old pensions. What in the U cant ask the state trooper now because the they have to retire after retire early the you you can't have. Not just state trooper frightened city cops the same thing or do you really want. 67 year old. Cop trying to you know arrest the game I know you probably don't ya it in what they're doing here I think it makes an awful lot of sense again moving from that. Traditional pension system into a more 41 K style programs. And what what they're going to be also doing along with that. Is they are bumping the retirement age for new employees up to 67 from 65. And that's gonna help out as well just make you shore. You have everything balanced there this the kind of thing. That's. Again it's it's going to be illegals coming across the country it's it's coming just about everywhere it's gonna be a little painful for people swallow right now. But it doesn't hurt if you'd like if your teacher singer 24 year old teacher Phil. And there are that was the mandate contributions and for teachers like they are they going to require the teachers to contribute yep they eat. If you're 24 year old teacher Philly he just graduated college and you're teaching your under the your plan you stay on that play until you retire right rate eat solid gift to leave the plant. But the the big advantage for the state of Pennsylvania. Is that tenure from now they're gonna have a manageable liability descended over sixty billion dollars but at least they've stopped the bleeding. Most states have not stopped the bleeding I looked at all the New England states the only state that's in decent shape. Tucked in terms of pension unfunded pension liabilities me if it funny about 83% of their pension. A bit when we if if we're still doing the show fifteen years from now. A that we look out there Pennsylvania is is what is it one of the best fiscal shapes out of any stayed out there just is this the kind of stuff that you need to do a wonderful that states will follow suit and I mean hey this is. Eve scene. You know Rhode Island went through modest pension reform but nothing this dramatic this is. You're out of the defined benefit plan you're gonna forward Kapler and it's better for the workers today I I want a lot better he emphasized the importance of this. Let's say you wore a schoolteacher. In Pennsylvania and you take a job and then all of sudden Europe husband gets transferred to Miami. Well under the old deal if you didn't stay the 35 years in this Pennsylvania pat plan. You you've really got whacked in terms of your pension benefits. Now with a 41 K plan with a match your vested immediately and that money comes with you when you moved to Florida when you moved to California. The I think they did what they're doing is. Right on target it's good for the taxpayers. It's fantastic for the workers because the pride get a match I've seen the plan that. There match for pride be ten or 15% on their forward I would imagine it's going to be pretty strong you know. Anyway that's good news as a relates to what is going on in Pennsylvania. Who burst leadership crisis intensifies we speculated that and Neil Michael would be leaving the company. It's it it sounds like the board through now based on their sexual harassment. And research that they did. Yeah and and Camille Michael was Cooper's chief business officer number two guy pretty much the number two guy in the company yes friends with Travis climate and the board pushed for his ouster aunt and with this. You get the sense that there is some pressure on Travis now that you know depending on whether he takes leave of absence or not. There's gonna be some pressure that when he comes back he's gonna be on the short side. Well he's got so darn much control lately he's got two buddies at a lot of stock and and he. Again it's really hard to get rid of I was looking at the share count and I like I'd I don't know that they could get him let's say they found out something heinous. Which I don't think exists by the way there's there's always a line now there's when it comes to people making investments and there's always a line from. Speaking of lines McDonald's is trying to hire 250000. Employees this summer and you using snap chat. To lure millennial job seekers about their sure that there are 250000 millenniums that are willing to work. No I just. And through I didn't quite do you know an entire Iraq despite just like slip out of there and quick quick criticism of your entire generation. In in five seconds analysts. I say again they wanna tries new things and then maybe snapped that'll help them higher I just it's it's an application. It is date if they didn't use that word like it's it's Tom. If there's an economic outlook this region like that the medicine at the key tenth. Just a bad idea that they're targeting but speed between the age of sixteen and 24. All I would say is if you are going to work McDonald's don't get too attached is kiosks are coming your way in. You know they are and robot we're covering a story later about robot like hamburger makers this is fantastic can't wait for the day and they can't put the load in the burger. Pay up next we're being joined by Robin sax from France Robin sax Frankel. From Bankrate dot com are you worried sick about your health care well if you are you're not alone that's our next story from our insurer match dot com studios. Barry in charge of the latest every day beginning at ten only here on the financial exchange radio network. As we get older the state 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 is her trust but don't listen to the fibs about having to give away all your assets -- control over your trust where the biggest hit a ball 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 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 state Clinton -- 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 showed dot com or toll free 8668485699. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insurer imagine agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars that that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates and carriers at 84499. Match let's 8449. B nine match insure a match works with the leading carriers in the industry like Orvella Plymouth rock and more. Their license for all types of insurance from 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. 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 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 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. 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 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 state clients such as he CH 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 of greater Boston's premier property management and real estate companies to leader bank as their banking partner or call 8776917900. Or email BBO at -- bag dot com for more information member FDIC equal housing lender. It's our daily poll question had financial exchange showed dot com. Vote your conscience there are just vote go to financial exchange showed dot com and cast away. Well the Affordable Care Act is supposed to make health care affordable. Turns out it may be doing. Anything thought that we are joining joined now by Robin sax Frankel from Bankrate dot com to talk about healthcare hi Robyn. I Harry you good so let's talk a vote. Americans who are not going to the doctor because of the cost associated health frequent. Are they found that one out of this or were not going to the doctor because they had caught concerns so that. Pretty high numbered 25% of people themselves to some of them are family get to. Seeking necessary medical care. It knows that across the board is that all generation answers it more on. Is. That it's one quarter American that we surveyed over that people across the board all different age groups. Political affiliations. Then everything would would age group is most likely. To forgo medical care. I study found that older mullah mail that is says it is 27 a very thanks for the most likely to bypass. Getting medical attention to the cost. Then and what percentage of Americans are worried that they may not be able to afford health insurance going forward. And that number is also surprisingly I and a survey 56%. Of those again that's across the board. They they're either very or somewhat worried that they might have affordable health care coverage in the future. What do you conclude from your researching your service. Oh well there's a couple of conclusions. Obviously there's a lot of months. Thirteen air nationally with that the proposed legislation changes that are right now you know we did find that that if he expects that as concerns about affordable health coverage in the future. That was about the same level of concern we found at the same question and August 2014. Which is about a year after Obama care. But then the plane so it we did conclude that people are still even with all the changes that come about the past eight years. They're still concerned about the affordability of their health care coverage. All right have you seen any plans that allayed these concerns they elected if they from any source whether the air quality you'd think tanks say anything that would alleviate the concerns about cost. I had seen a lot of gases. And ideas I haven't you know their ticket hasn't been any concrete entry yet. No matter what they haven't found that magic pill. No no malice and you want to know and I keep what I I everybody I talked to last CD have a magic solution to hear from nobody's got. You know one that I would advise folks who who do have come. Some concerns about either their current situation how that proposed upcoming changes might affect their wallets yes he should always try to save some money in an emergency fund. You never wanna have to choose between your physical health that your financial house. Very good advice targeted by thank you appreciate it at Robin sax Frankel and everybody's concerned about health care. As well he should be well and rightly so we still not figured out how to get costs down in the US and fortunately just about ever study out there shows that we pay more for the same treatment that just about anywhere else than and until we start dealing with costs instead of just focusing on coverage after a change. Do you stay up but watch the NBA championship game I didn't watch a second and that didn't watch a minute of it. The viewership numbers must have been pretty much. There's the team from California one what they called golden state of war on it wars there really from Oakland. Oakland but moving to las San Francisco when there are new building is wrapped up wooden ice is an operator's that'll be nice upgrade for the you know it'll be nice downtown San Francisco it's going to be down by the by the baseball stadium which is. On the base side of this I don't know eggs I'm not good with San Francisco just as I have a natural. Aversion to try to what is much policy the price of tickets were selling for. 133000. Dollars for courtside seats that's unbelievable is that a record of some sort it's a first of all what's amazing is that it's more than twice the median priced home in Cleveland OK so I've found that's that pretty amazing how bad is Cleveland house by house for some degree. I would buy a house for some degree and I know these days. Think about how bad police must be live. If you buy a house for seven in my mom's from Cleveland regional this yeah come on you know she doesn't live there and yes you left I think if that's it move that he should. From Cleveland. He had enough but yet it's it was a record for an NBA game. And what what's amazing is that on that sale. Nancy goal generated 171000. Dollars in fees for Ticketmaster. 70000 dollars in fees is and it wasn't just like one pair of seats went for a 133 they were reports of a lot of seats being resold on line for anywhere from ninety to 82000 dollars yet the the average resale price of a ticket and waste of money under how much money do you have to spend. But they have if it would have I think stupid money the only 100000200. Million like how much money you have to spend that much money. On an NBA best to spend that much if I had ten million dollars of that due to an island. And then at ten million do. And buy stock you know when I buy a house of glee because if I put that what if I put that ten and two houses and Cleveland if I put that 101000000 and one percents media can buy those tickets. Not me. And I guess we have to well I'll save that story and we also have a trivia question coming up for you knew we were gonna talk about the Pittsburgh Penguins. Begrudgingly have to congratulate them but I'll do it properly in the next segment. They've had actually five Stanley Cup championships in the last thirty years yourself pretty impressive run for Pittsburgh anyway. I Dow is up fifty points the NASDAQ up 26 points crude oil is trading down 39 cents a barrel. All that from our insurer match dot com. You've got Barry Armstrong. Extra pressure on the financial exchange radio network. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're Jumbo loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinancing 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. 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 -- 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 doc. 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 had legal exchange showed dot com legal exchange showed dot com that website again is illegal exchange showed dot com. Searching for the best savings rate leader bang zoom account has a two point 05 AP and that's just one of the perks qualifying Zuma customers receive 1% back on debit 10% back it 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 and an annual percentage yield ten dollars two point 03% interest rate mass residents only he's may reduce earnings rate subject to change without notice member FDIC leader bank a step ahead you're financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insurer -- agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for 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 call insure a match to compare multiple rates in carriers at 844 and 99 match let's 84499. 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. 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 FDIC equal housing lender and the lowest number 449250. Subject to credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases in refinances all originations are managed by your bank's local underwriting processing teams for additional information call 8776917900. That's 8776917900. Or visit reader bank dot com. Minarets PSE equal housing lender and -- number 449250. Subjective credit approval leader bank a step ahead. Like us on FaceBook and follow us on Twitter that. TFC show yeah breaking business news is always first right here on the financial exchange radio network. A few days ago we learned that Adam West the actor best known for his role in the back man television series passed away at age 88 we're doing trivia today based on the Batman franchise. In which year. Did the release of the very. First Batman movie take place now are tech's number is 68680. In the first listener with correct answer win two tickets. To the if it's the senior open is over you yet US senior open taking place at the Salem country club in Peabody. Massachusetts that would be from June 26 until July 2 again first listeners with a cracked the answer. When the tickets in which year. Did the release of the very first Batman movie take place let's talk about the Pittsburgh Penguins as difficult as this may be for all of us to stomach. They won in other Stanley Cup. That they did this it got quite the the record going on I mean hey they've won back to back years now back to back but I think they've won five cups. In 49 years as a bat and he really did you figure also that the first ten years of an expansion frankly didn't win anything. Piper first twenty years that they are team. Unity they came in in the sixties. With the oh win and they brought in Saint Louis and you know their first big wave of expansion in the nature yeah I mean it takes awhile for a team to get up to speed in double in size of the NHL one year there's no it pretty amazing electric sixteen Stockard twelve and we went and it was our it was such a small. Lead to begin with. Yet to talk about job openings Scalia noted that you had a lot of guys in the minors were darned good players in 1964. I can't wait for Vegas to start next year they'll hear it at all they got yet but yet it's different now watered down. Mean they they his team's going to be an American League team that the this is. Pittsburgh got the they're probably one of the best teams in the legal past thirty years. Oh there's there's no doubt you look at the run they've had over the last decade. And you can put it up there with you know the red wings team from the ninety's he el Nino no the Pittsburgh teams the early ninety's. I mean you can go kind of through the down the list of you know even what the with the Blackhawks have done the last decade you know they're kind of in that same discussion now. As painful as it is because some not a huge Sidney Crosby fine. I have the need to give advice to millennial. It's just. Part of might make you really yeah I just I feel like IE I OT. They if it's part of my responsibility you have kids and keep them off while on yes it keep them off while on page one of the exercises they you have to go through 'cause most millennial couples that I meet. They're both working it's not like it's not like the old days like in the old days used to get married when your 20/20 two years old. And mom would you stay hole even before she had kids and then she would have kids in and never go back to work at these news there. Wasn't until the 1970s. When women really started to work outside of the home yup. Now EEE you've got these two income families and you start having kids. Let's say you make and 5560000. Bucks a year and you or your ear do you decide to have a family. What do you do with how do you measure whether or not mom should stay home with the baby were bad for. Should send home with the baby or whether they should go back to work it's not just about the lost wages currently. Notes you also have factor and you know potential future wages with regards to raises and so forth. Those are all conversations that you need to have because look. For the first 45 years it might make sense is because you say hey look we can you know kind of make this bush just over that time period. But do you give up opportunities for advancement higher wages down the road do you give up the potential to move into position that you want to be and in the long run. And an alms to the long run. Calculations are difficult to project because you're trying to figure is the opening that I want going to be available right. If I find that to be very difficult. For most people conceptual since it's just it's a complicated. Problem to deal with the simplest way look. Is you take what you're making today no okay the cost of child care the cost of any of that additional. Help that you need to bring in and so forth and and you pretty much scale that say look you know tossed an extra you know 20% on the my wages for potential growth and figure out. It still makes sense well promotions you know in in in you know how many kids are gonna. Right that's the other factor that comes in here if you're gonna have three kids and you stack them up and have a kid every year every every two years. Well it makes it very difficult to justify going back to work it does if you think a lot of money right if if you're just having one. It's different conversation that she'd get a family members provide them if they care for free but that's. Asking along the did it to think that your mother and father are going to you to your folks are the same age I am. And a lot of us are still working we don't have the time to take carrier kids five days a week in and we hate to say they want to. Oh that's not true you do lately and age you. Eight days a week if you could remain silent and just so long as you go home the end of the night if it if you're finally. They there's no such thing how well it was last time you heard there's no such thing as a free. Every dad taught that these notebooks is a free lunch while others such thing as a free dinner. And I'll buy it we're gonna have a big deal next week we're gonna be at the sky line at water place. In all of our faithful listeners are invited to joyous it's June 20 one week from today. The location is the skyline at water place that's in Providence, Rhode Island. I get there around 5 o'clock we'll try to heavy on your way home by seventh seed in this traffic on both sides of the trade in this draft by the way and and then by 7 o'clock all the traffic has cleared out. There's a ballet you know get a wonderful meal. Chalks gonna talk to you about the secret sauce as it relates to developing and designing an investment Portland Todd let's he's been talking about changes that are coming. As a relates to asset protection in estate planning. In all be your master of ceremonies I sure hope you'll join us if he'd like a free ticket Jeanine Marie good friend 800. 3934001. Is the number to dial you call that number. You 103934001. Where is it skyline at water place Providence, Rhode Island. Tuesday June 20 5 o'clock be there. 803934001. That's 803934001. Let's talk about Al you know we talked about other stocks down a little bit people freak and goes down 7% it's now trading at about 145. There is more and more. Acknowledgment. On the part of Tim Cook that they are focusing. On making an autonomous car system. And if you're an apple user. It's a pretty darn good product you know in in if I was gonna trust. A product to drive my car for me I'd be more inclined to trust an apple product than anything else. The vehicle used apple maps. Noise and I use Google I you know I use Google just leave their apple maps from the first rolled out was pretty much complete debacle I don't even use it now how is now. It's better but I have one time where I was trying to go to a Cracker Barrel outside Providence and took into random neighborhood telling me it was in someone's basement while I was knocking on the door and guys like get away you know even wanna work to do with me. I have a Zedillo's time. But if you know it's it is interesting that Apple's continuing to build. Something we don't know exactly what they're there were rumors I think they're I think they're all in so there were rumors at one point they were actually gonna build vehicles. I think that there's some truth users are rumors that they're gonna buy and Claire remembers the aren't British automobile maker I think that would have been a huge mistake that would have been a Microsoft huge. I can see them getting behind the technology and trying to build a platform for that autonomous and what's gonna. Have the values not the car. That's gonna happen it's the technology to not kill somebody that's gonna have the be in and the the the numbers that are being released like I was looking at this. And you know like I'm a big I I love it. Advanced technology they're saying track. That the these 32 companies that are investigating this and investing it in in this technology. It's estimated to be worth six point seven trillion dollars by 23 this according to McKinsey and company. So you know you could sail this is never happen on every. You know you probably said that about Smartphone to. Great member of members and people didn't like the Smartphone they didn't like read the paper online this is this common 1% this is coming. I guess they into the company's if you had to place a bet right the companies that we know. If I think this too that you would that I would consider wagered on Gould is number one the night frankly from what I hear. Coming out of Harvard. There there are light years ahead of everybody else in the nights they apple my guess would be number two in their produce little more secretive. I don't have a strong take on apple does not just because I think we've we know so little the companies that are out there. Tesla got a ton of miles on the road now okay they. They have a ton of real world road down here from their visual monitoring every all of that data they have so much data. That I think they have to be in the conversation there then maybe it's by the stocks. You know you you talk but some of these other companies I think that one of your major manufacturers is gonna be on that forefront to Ford or GM one of them. I get the sense that you're going to have something coming out of the public for some of these partnerships their development. It might not be their system completely but I do think one of them is going to end up being involved as well. In looking to have some dark horses that come in as well you know that there could be some companies. That are being still on start of stage that are put together some great products we've talked about that company new economy that there was some interest in things. There's a whole bunch of different companies out there. That I think have their hands in this it's not going to be something where one or two of them win OK you don't think it's a winner take all what ought to be. Why would it be any different from you know how you have. Multiple manufacturers now we have cars and technology and yes Smartphone you've got your twenty major manufactures and you can go down the list where you'll Honda Toyota and GM Ford BMW or save a lot of companies up and any money list. But they don't need you right away remember that you know I don't know if there's a huge first mover advantage. Mean I don't know you know. I guess we'll find out he up next we're going to be talking about the number two right hailing firm even know who it is we'll talk about it over. Up next are talking about lift that's next from our insurer match dot com studios. The battle over the trump agenda continues to affect the markets and get the latest info on the sectors that are benefiting and those that aren't right here with the battery and jumped 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 I'm a 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 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. 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 if you have loved ones or friends that may need nursing home care you need to protect ourselves 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 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 and dole then the experts and elder luck have written a brand new guide top misconceptions about Medicaid or Revver Kabul 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 you need -- banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and real estate space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitize paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as ECH payments mobile banking remote check scanners and it's 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 of greater Boston's premier property management and real estate companies choose leader bank as their banking partner call 8776917900. Or email BBO 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 insure a match agency can prepare personalized plan that gets you the best coverage at the best price -- insure -- match at 84499. Match that before for 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered well so they get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry Mike Rabelo Plymouth rock and more of 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 through securities America into member finreg SIPC an advisory services suffer through securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Barry Armstrong. Sharks go to. Breaking business news every day right here on the financial exchange radio network. Columbia Pictures released the very first bat man film of the year in 1943 belief. Not and it starred Louis Wilson has that they. The winner on this question was Brian BR report Brian is taking home. Tickets to the US senior open and our trivia contest is brought to you by the US senior open taking place at Salem country club. In Peabody on June 26 through July 2 comes over a 150. Of the world's best fifty plus golfers including Tom Watson Nick Faldo and Fred Couples kids under seventeen. Get in free with a ticketed adult and for tickets and more information visit 2017. US senior open dot com that's 2017. US senior open dot com we're joined by. Alexandra sewage from The Economist Magazine to talk about lift. And you know we talk about mover. Endlessly it seems that lift does actually become a pretty good competitors who Burke. Hi Alexander hurry you. And while it aria good so what percentage of the domestic ride share business does lift compared command today. Today it's around a quarter on there with interesting about lifted that would actually. Earlier than super offer your tips here like I. A driver and a black car limits mean I'm excited that that's in the future where it just average people could drive you around in their car. The Neuberger key stat service actor but that Dugard. Dominate most cities and in America but liquid been gaining share it risen from around 18% five months ago which is when you heard how this series of scandal when he started on two around the corner today. Lift does not operate outside the United States right they're purely domestic stock Erica that a domestic company. Exactly yet that they are proud that at private companies now on entirely domestic. And deliberately. Yet they yet at the app that Lautenberg trying to dominate every country around the world. Probably except for China on why do in the towel left. They did that that they wanted to focus on and and daughter and their resource is trying to gain share. So wit when I was lift founded and who who were there. People that started left. He'll lift couldn't be the interesting story on because it started by people who really didn't happen is you can't. One that the founders Luke and green had traveled to Zimbabwe and how people traveled around I share cars. Well because there's no great public transportation and not. Other Coke Allen. John and her and it had gone to hospitality school ones had interned at an investment bank on. And they came together and have been very interest in how it used squarely on what the the future cities but a quiet and they came together. To start left to have a reputation. What year did I guess I Alexander what year did they started to when he. And wind it lifts start or when you Duberstein news or early and that was an Hoover like 29. Yet though on it was when he. And is when he app launcher and it was exclusively. Or black car. Now DeDe Eagleburger try to buying lift. Though it did it in twenty port unit they decided that. It's very expensive for both operate in the city because they have to offer a tribute both to the drivers to stay loyal to their form. And two passengers to keep using that and so. They decided why don't we uber spotlight weakest joint force it would mean that we don't spend that much intensity it would Maryland law says that they approach left. I'm in 2014. And there were discussions but they couldn't agree on what share of the company let out terrorist. What and that we merged companies have a discussion how part. The pinnacle paid for now it actually is very helpful in the back I have a competitor. Because that Cooper with. You want them on the regulators in America. I'd be more likely to come forward and point their finger in Britain monopoly on the rise as having and number Q. On even if it's going might in the long term be helpful. No we I think overs losing about what two point eight billion a year how much did lift loose last year. I'm led to long on Iraq. Sick fun and middle. 600 million in 26 keen on compared to thirteen point eight billion of course it is all so much. Smaller and it's only a Pakistani you last. That key questions for both left and which is not yet prove that it is. And right here and be profitable but that's right now we're in the growth they had to what I wrote a bit about let in the weeks economy meant. Jump on them our compared it to the wireless market where there's going to be more. On you know not just one major player that girl who looked good coverage but they. With a bigger deal less if big deal Alexander's get rid of the drivers right in that with Killen in terms of cost his. They're paying 75 cents on the dollar that they collected the drivers so. If they go Thomas does that term profitable. Right to be is fit to the that is another point they claim that there and that Barrett is with their buildings fell two hours right there in the infrastructure. Development is that lays the ground work for future business other technological change the other investment but there. Really making right now is toward it on in the future. On says they'll be able to about the drivers that interesting question is okay epic about the drivers that believes. Aren't they didn't really offer that led apple to ride those car that they could have invented the technology are going to be provided by the now. Who they'll have to give a smaller cut to you and they have to get drivers but cut at that there on the last there's so many open questions about what the future look like and comes. Self driving cars and right LA and many years the way. But I think the one thing. That's for sure is it will look different to. Alexander thank you very much for your time we appreciate it. And that's Alexander sewage from The Economist Magazine and if I'd put my money on one side of it on lift because they have the relationship with the economy which is an MIT spinoff in their relationship with Google very favorable relationships and like Hoover. Thanks for fitting end to the and financial exchange today trucks not a talker Silva Barry Armstrong from our insurer match dot com students.