Jul 20, 2017|
Full Show 7-20-17 by The Financial Exchange
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
This is the financial exchange with the very Armstrong and shops are. Your exclusive look at business and financial news affecting your day you're sick leave your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and sharks on. How much pain are you willing to withstand. I came across the story this morning very early in the Wall Street Journal. And it reflected upon the point that the Federal Reserve has raised interest rates by quarter of a point. To a range somewhere between one and one quarter percent after the banks are. Receiving as today's rate. When they buy it and they lend overnight and I look at that say OK well some of the gun. Savings rates should start to be going up money market rates should be on the increase CD rates should be on the increase because I can tell Aaliyah. The cost of borrowing money fishery increased hi everybody it's very check with you here on the Thursday morning and well the banks. Again that. Happy that would let it lie from animal house fat dumb and lazy fat dumb and stupid fat dumb and stupid well they're notes up at I don't think you're stupid at all I mean the banks or keep made vacant. Tons of cash gets fat dumb and stupid I think us consumers. Our. Well I guess were skinny. No we're not and are obese and then we're stupid or or obese. You know with consumers against group. They aren't and this is I liken it to what we see with oil prices as oil prices go up we see do you think gas stations raising those prices quickly also an oil prices come down and they say. A drop of penny here maybe a pennies ET this the same kind of thing what we're seeing from banks. Is that on savings rates for banks. That all or. For banks of the checking accounts okay Bates and have branches. The amount that savings rate certain than it did deposit rates have risen is just eight point 85 basis points now basis points. Okay is point 01% to what this says. Is that while the Fed has raised rates 1%. Banks have passed point 08% through. On their deposit the fifth district savings account yeah at banks that have branches of actually dropped by point eat they've actually gone down now. Online you how does that mean how can they do that. How they could do it because as consumers. We are sold. Would Atlantic analysts say entrenched. Lackadaisical we just don't care it's consumers is just an all it is good tonight I was you know usually it's it's it's humans in general okay. Indonesia it's that we tend to follow the state that were okay. It's why if you make retirement plans opt out instead of opt in and everyone ends up with a retirement plan because no one wants to opt out this out too much hassle it's why if you make an opt in. It's very difficult to get people in the system it's 147%. Of people do not have anything in the stock market because this opt Ian. Not opt out we tend to go along with how things are going. And so what you see here people don't shop around in general for savings rates because tiger rates are available right it's like they are I don't know its worst. So here here's how I look okay what's the average person you're part of the problem no I'm I'm not I'm part of the solution there what's the average person having their check. All I don't know I really don't know we know people don't have much money sitting around because we know that there there's not much of an emergency fund all the excellence but I don't know 5000 yards and averaged 5000 well okay so it's that you get a quarter percent on that 5000 dollars okay that means you're getting about twelve dollars and fifty cents years to get dollar month under 5000 dollars okay so you wanna go around and shop around to him get 1% now instead okay. It's that getting twelve dollars a year you get fifty C index of 38 dollars a year how much your time if you're gonna spend four hours doing that it's nine bucks an hour. For you go do that as you tie well more or less than nine bucks now and here's the problem I think a lot of people run into news. You know if you're one with one of these banks in you have your Turkey count your savings account in yours you know all your bills and the soldier ATM cards. Lot of them are gonna say EU okay will give you free checking that you have to have a minimum balance. I think Bank of America to get all the freebies with Bank of America. I think it's around twenty green beans like 10:15 AM it might be higher now but it in any case. You'll get is OK so once I go and I have to go and open up new accounts and didn't get it changed my direct deposit and I've got to change all my auto payments that are going from that account. 63 to four hours do that needs not worth the for an extra thirty bucks a year. It's not worth it. You know like today you pay an interest in guys I've been around to get the thing done and I understand they you know it is I get. Acts all the time you know win in my CD rates an angle up and evidently the answer is not yet. This is just the the the process and again that. There's so much that people ought to meet these days it's OK so on my bank of got my direct deposit going in this I have to go change that and I've got to change my gas have got to change my electric I've got to change my cable is all that's coming out. Is it takes time and so. I think it just for most people again especially. Person can have that much money in their count it's not worth it to Garrett if you've got a 100000 dollars okay it's worth. Oh look I shouldn't be complaining on long and among banks writes this is good for. Well it is it's banks have rallied in in price a 100% pay. Tucker I've got good news for you know you've been one up. Chipotle has reopened that Virginia restaurant worker who got really 608 it's good news of thumb in Virginia is at it at that they've got a side of the collide. The next week I have special they've isolated and I have a good character for it to chipotle it's always good news bad news outlets though. On the good side it cleaned up the restaurant they re re opened it there was idiots that there was no virus that's fraud deceit that's restaurant a mere minutes ago it restaurant in Virginia. The bad news. Is there is video and I posted them at face but oh what what happened rats falling from the ceiling. At west and this is in south Texas a way expanded out to access. Rats falling from the ceiling caught it and if that's probably raise you know camera at all times. It three electorate out there were rats or mice is an actual video oh yeah it's quite a while regrets fallen. Well evidently I mean I know gravity and all happily quietly what they were in the CU they fell through the ceiling they go through the ceiling on the floor in the big. That they're not small as I mean there's ceiling tiles Texas or don't. Texas size writes this is for ten gallon rat you know. I mean I I another protein count I had. And I have to credit yup I would make that a special. I have to give credit to expert team that card you know if police chiefs he shared this story. He is Jimmy's the produces its story. Catania in that. Yeah rats following from the ceiling and Weston to bully us and answer thing all. And it's been a while five years I generally try to avoid it I usually right through it. I like being made it's it's about what went out it. The walk around it's it is a great place to the people watching it is just. An electorate everything about their makes me feel bad about myself so one night where we're in a restaurant. And thanks for couples and we're down your doubts if we have the street. Louis cardinals those Buick halfway down your house lea. And I over the spill it's dust yeah we're all eating their dinner. And I happen to be you know I have to be looking now at the street level. And as as it gets darker and darker. I notice things submarine along in poppy leaves at that just leaves blowing it all no no no they're not the place Walter is so IE that. Boston speeches full of rats and I pulled. Into my driveway. Back in Somerville maybe. Back in the fall and and and nine months ago. And as I do I close the corridor and I see this thing. One out from in front of the the door them about about to go into during a lunch spice rack I swear. The body of death was probably twelve to fifteen inches long thing must await thirty pounds it was like a small like a midsize at all. If or it was like a mid sized dog authorizing an element that tales like two feet long and a solid hour and that he's gonna beat the crew. Let me make its get a hold me please get some big rats know it hurts him. At any rate I just thought I would. I would mention that. Here's how to beat your student debt collectors especially if you have private student loans. Turns out that you know a lot of these private student loans have been bought and sold on the secondary market. And yards out. They may not have the paperwork so if you it's like it's pretty big. Chalk with a population and has private student world. You should dispute because they've been appealed to prove that you actually brought them which I find amazing. Well I'd easily these companies to a file an appeal to prove that you glee it's actually your debt. The when I get that they record keeping bad because it was all paper yeah it's all done on him. And you know maybe it was skiing and maybe it wasn't maybe the files were lost maybe they weren't but they're finding a preponderance of these private about the federal student but the private student loans now that a lot of kids take even as undergraduates and a lot of kids that have taken these private student loans. They don't have the paperwork and he disputed union have pasted to Mazen. I. Mentioned those and are you looking for work. You look at for job that pays pretty darn good wage where it is an area with a in New England that has thousands literally. Thousands of job openings in the next segment we're gonna be joined by Dan far from the Hartford current. They talked about a company that is looking to hire these are good jobs these are union jobs. That's our next topic from our insurer match dot com studio. As the truth agenda stalled. Bearing in charge of the latest every day beginning at ten only on the financial exchange radio network. 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Called today 84499. Match or go online and insure a match dot com. Very Armstrong here and I'm joined by vice president GA tool from leader bank. We're talking about zero rent this is exciting because Z rent is a method for landlords to collect their rent electronically but there's now by refining Jane that it's being widely adopted by Condo associations tell everybody would see right. All right so you see you rent is a product we innovated leader may. Comedy can be found it www. Theory dot net and it's essentially. And online payment technology that allows landlords to collect the rent electronic mechanics. So there's several advantages first you say goodbye to being reliant on the use Postal Service. Goodbye to delays in the mail and no more need for paper check right where it's really a laudable and needles don't even have a check. We're getting that all the time lame or will call in and sign up because it's ten and saying you didn't check the it where this really starts to get funnies when you if your landlord in you have. Multiple tenants living in units grad students here university. While right now they're all writing multiple checks and sending them in and fro in order a source become confusing pain in the neck so would you read will do is it likely. Deputy each tenant can individually. Back cheated in 101 payment for that unit to landlord. And then of course there are some reports in notification to elect rates but going back to your question Condo association's a lot of Condo associations have been using human as well. Because the Condo payments that kind of you sure do every month at the scene so they've been signing up and there's a version of the rate for condos. I'll be darned well sounds like a something that you need to learn more about folks visit. Zebra dot net to learn more that's the website address or call them at 8776917900. Toll free 87769178900. Why collect your rent or your Condo fees with paper checks get with the modern age go to see rent dot net or call them toll free 8776917900. Security suffered two securities America into member finreg SIPC an advisory services offered through securities America advisors think carry ons from representative Armstrong advisory group in the securities America companies are unaffiliated. Armstrong here. Bringing you the best in the business and financial news every day you. This is the financial exchange radio network. We're joined by Dan par. Business reporter for the Hartford current that we're talking about electric boat in the New London, Connecticut area Dan welcome to the show how aria. Very much good morning how many workers does electric boat. Employee in the New London area of Connecticut today Dan. The total. And the locations well actually relocation. It's rotten and that are immediately across the river the engineering is not a field size or location. In New London. And then the Oprah weighs down the road and quonset Rhode Island is the other. Manufacturing location all three combined 151000. U up from a low of about 9018. Years ago. Now they're on a hiring frenzy. Today in and it sounds based and the reports I read in in the current. It it sounds like they're gonna be hiring literally thousands of workers. During the next several years. Yet though the ramp up his for two reasons that is the happy confluence. Of is it bought in 2011. The government side the built in Europe and Virginia class act that. And that they're being that government that are currently on order and currently being built I think they have been under way fifteen done so far. And so the two year has cramped up and manufacturing. Action that really just now in the last couple. You know because you wrap up I mean the number of different things but it is. It's really in high gear now at bat and beat replacement for the Ohio class trident submarine. Ballistic missile submarine which is larger yup it is the new Columbia class they just name a few months ago. And that's also ramping up at a rate of two billion dollars a year in federal spending which is let them. But that the bill but it it's a ramp up engineering and that engineering happened to be done in new one. So they're hiring. Engineers they're also hire a lot of labor so what kind of what workers are they looking for damage with skill set today have been the need for. Now I know everything. Practices for the makers carpenter's clerical people elect assistant labor as machine that I'm looking at a list. Hate there's quite and much much. Keeping their business that commercial paper yeah well exactly yet the metal. As I've built up. I bidders. I mean he'll be able to build you know Spansion penalized. There's the there's a lot of people. So it on the label aside it is that now that one of the downside is that going to be quite as much overtime. It because they good. If there is because there's only one cup resonate. There's that production schedules are easier to regulate. So there isn't like all of a sudden we have to get. You know we have to get and get it in papadore this month there's last month we only had they get sick and we're gonna really ramp up over time but it. The political left the back. Then how challenging is it to you get qualified people for these jobs you can also get the required security clearances because they're working on some pretty impressive technology. Yet it's not a yes your bank because you lowly bank. And we he has you know in the news industry. Who went people leave you think well what they're going to be opening is these fine people but. When an industry ranking as. Manufacturing did add that there really still is. People don't stick around. You know that is that's what they it's that it's almost sort of myth that that I bidders electric boat be seen. Art dealers at. With the and I'm at is they're different people and certainly the instill that. But there's a lot of things that has happened on the concern is that the pump budget builds up submarines as the Obama budget it but there is down money for it. And as her family get local community college and these manufacturing jobs. My opinion personally is that if you hire jobs will follow and people won't mean you know the statement also happening and that's good but the good he's been an especially. What's the weight range if you come in and say Europe paint her or you're an apprentice and you wanna learn a trade you've got to clean security clearance. With what can you expect to earn. The boat in the range. Of thirty dollars an hour and an op yup you know they flatten out. They certainly Latin and when they get Nokia up in a lot of it is in some highly specialized. You know. If he dollar an hour people that are making a really good really good money in hourly but for the most audits in the bode I would say. And it anyway I just looking at and yelled back. Let the vote. Pretty much ranges from the sixties. Mid sixties city I ninety's. Engineering you know what a compliance manager would that the I nine and they of course that probably less so with although I don't know that you know. Actually none of engineers is out yet they are they'll get into it but I do not yet it is. The best sixty. Deny he's been in thousands of dollars a year and of course you have measures. I level managers are making more and there are fewer than and they are some. Salaried people that are in for example financial analyst there I thought Hugo listed in the port. Because obviously they're not agreed engineers. Oca should have a pretty good impact on the real estate market gone. Yes very good let it let things on my colleague Steve Bing has been reported and that he had. Seen hearing that imprint. I wages and what. Jobs were lost or. I do their jobs were buying met. 700000 dollar houses built for the job of researchers that went to match fighter which is which occupied. The very same building that the engineering has been now for. Electric boat. Downsides are I think the 500 in 2000 I believe reported that back and bit 3000 now. And those were higher by dot that he job. These people are buying houses in the end it. Do we still good and that outlook is. It is what you want and they'll and they'll aren't that. Good good Dan thank you very much for your time we appreciate it great. Hey if you're looking for work folks electric boat it sounds like if the doors wide open. Good job and again as Dan said there are a ton of people with the qualifications for these jobs right now and they are putting in per in place of programs to help give people those qualifications through some institutions around Connecticut Rhode Island so you know it's an opportunity where you can get in you've got some pretty good job security. You get to work on some unbelievable. Crime unions union jobs now. Back in 1976 just to put this in perspective and think about the impact this must of had on New London county. In 1976 they had 20000. Employees yup and electric boat. In 2000. By the year 2000 they're down to 9000. Point out. So with that kind of the Euro Il. Effect on a regional like that yup is perhaps as did the biggest employer in new lending count the are just massive. Conservative biggest employer in the state now. All I would that Arab if they are now the will be I would think by the time they ramp up their hiring. Not thousands of workers there they have a tough time attracting engineers because a lot of the engineers percent while jacket via the San Francisco over the united tech is still a little bigger than they've got about 26000. Employees right now but electric boat when they get up to you know. 1820000 they're going to be right up there in terms of you know your biggest employers in the state. And then after that drop down to Los stoppage now it's it's good for. Connecticut to have this and this region of Connecticut just a few years ago in New London county was the weakest economy in this state yup not too long ago. When we come back we'll have a trivia question for you. And more from march or match dot com. Linking your Smartphone even smaller here. Download our mobile lab by surging financial exchange show in nineteen Jordan who. Who played stores this is the financial exchange radio network. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of Iran today we're zero and leader banks all mine rent collection tool zero automatically deducts tenant's rent and deposited into your account visit WWW dug see rent dot net to learn more we see rent your payments for each unit received regularly on the same day every month tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot meant to learn more or call 7816418691. With the market continuing to be highly volatile I'm sure a lot of you are refocusing on the types of investments that you're making hi this is Barry Armstrong and I'd like to talk to you about preferred stocks as an investment tool there are two types of equity securities common stock and preferred stock but they each have different characteristics preferred stocks for five investors with a share of the company's ownership but the air typically purchased with a focus on income this means that the stock's value can fluctuate based on the movement of interest rates rather than the movement within the stock market call now 803934001. To get my free guide understanding the basics about preferred stocks that's 803934001. Or you can download the guide right now at financial exchange show dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Street watch a look at the market's performance so far today but I still Berrian jug right here on the financial exchange radio network. All right it's time for Wall Street watching it might what's up by. More varied. Markets this morning are slightly down the Dow all opened both the SP and Dow opened up the Dow is now down by 47 points or about quarter of 1% isn't he is down two points about tenth of 1%. We do you have energy leading the way up. But materials and a lot of us sectors bring it. Michael stick a quick look enough fuel mores here today and no they reported earnings they missed a little bit in terms of profits and revenue they'll do a little bit of a cut. Which is due into the stock. Yes so like you mentioned they had that they estimated quarterly profits about nine cents a share they have basically the profits of the dollar and fourteen cents per share they missed on revenue and they'd cut their guidance. The stock is down a little bit over 2% two dollars and seventy cents. What's going on with T-Mobile I took a look at their earnings report and they beat on profit they saw a big jump in customers they saw record low turn over the stock opened up in now is selling off a little. You know check your guess as good as mine here they absolutely crushed on quarterly profits they at 67 cent per share beating the consensus consensus estimates of 38 cents per share at a massive jump in customers and that record low customer defections. If they did announce they're going to be spending a fair bit of money expanding their five G network and so perhaps this. This is some people taking gains concerned about you know spending down the road. The stock is up over 8% this year by the actor really just. Out of the ballpark earnings quarter this stock is down by nearly 1% at this point. Very good Mike thank you very much for the time. Thank you kept that Mike Armstrong on July 20 1969. Neil Armstrong became the first human to walk on the surface of the moon we will be asking trivia questions about the first moon landing. What is the name of the second human to walk on the surface of the moon are tech's number is 68680. First listener that has the correct answer will win a prize that includes theme park tickets in New Hampshire what is the name. Of the second human to walk on the surface of the moon again the tax number you're here in studio is 68680. Student loan debt has grown. By 250%. During the last ten years and we have the states that old the most and I will tell you the New England states are right up there in the top. It is that surprising to you a little bit. Well they rated the top what's the number one state where people oh the most okay New Hampshire New Hampshire 76%. Of graduates. Have debt in the average debt is 36000 a 101 dollars. See why. The I I don't know why it's New Hampshire but I look at it notes in itself okay you're graduating. With a four year college degree. You went to I would think a fairly good schools Hewitt schooling and yet. I I don't look at that as the and that daunting frankly. It and they're the highest dad at 36000 on a fact that it's 76% of the population. That that's strikes but look at the payment via 36300. A month three or 400 a month yeah he could you could cover that. Twice over with a part time job. Yeah it's it's something that you should be able to make big chunks on in pretty much have gone within seventy years you know you'd say you know thought I was you're working consistently there you get a full time job in the and you have a side. Genetic it. 64%. 34000 dollars yup. Connecticut in their main reason in the list as well the silent 3% with 29644. Dollars and debt. Rhode Island as you mentioned is in there so. You know Massachusetts all the New England states seem to be in here supper one. I think what it tells me more than anything else is that New England tends to prioritize education that's why you wind up seeing. Hired me on numbers of people in higher rates of student loan debt than I would imagine if you go down and other places other parts the country. They don't have the same emphasis necessarily on going to college. That's for back could be the media and cultural differences probably in May very well be the case. Back to the basics it's Armstrong advisory groups free guide for the month of July to guide to preferred stocks now. Some of you may never have invested in preferred stocks not many investors do quite frankly. And so we put together a guide as it relates to investing in preferred stocks who buys them well investors that are looking for income. If you won the game already in you're sitting there saying what I'd like to have dividends dividend income is important to me preferred stocks. Might be something that you should consider for your investment portfolio how to get the guy just to race. You can go to our website which is financial exchange showed dot com or you can call toll free 800. 3934001. It's the guide to preferred stocks available for the month of July. Get yours for free by calling 80393. 4001. Or two went right now you have to wait get it in the mail in Europe to make a phone call go to financial exchange show dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Ten seriously inappropriate things that you should never. Ever say to a coworker like Tony I went through these tent that says seven of them and and the ones that you haven't that you haven't said you probably had said to me. Oh yeah I. As I mean I'd be all of these at some point we are this is a lesson full pads and any of these on mobile home on. We're very polite we're gonna teach you how to be politically colors very polite we're gonna give advice goes group. How could be politically advice that now I don't understand the first one we're number one on the list of things you should not say to your Cobb colleagues or employee all right. Do you and your wife go to sure. That you say yes or no light and understand the problem I just add that it's on the list. They did it like I said I picture I guess that if you that you don't like ripping someone because of what they say OK that's probably inappropriate right upon. Actually I understand the problem it's on the list to do. You're having a blonde moment is number two I said to wipe all the time. Talk I'm I'm I'm not yet been well there might like buy dot I'm not getting involved. Not getting involved I say and I said just you out there isn't just me every day by the way you have it now. Explicit that work better. Don't know if his research shows that they feel their job will be in jeopardy if you asked me that my jobs in jeopardy on a grant I'm not the one having the children actually. And coming up that was funny logic yes that's what it says. I'm not afraid of losing my job if yes if I have kids. Are you having more planning to have work though right. I give bonuses to people and had kids he does. Bonuses and Egypt and his mind to leave we'll have a thousand bucks it's actually when the Bosnia said it's quite a bit NC you know someone comes up their bill going up floor. And I asked them why you take an elevator takes there's rule. I don't know. Oh. If I'm not looking at a professional perspective on this thing he'd say it will electricity don't take the elevator. Older guy right that's that's hallowed yet inferences you vehemently what they are being lazy there's no doubt about it you know. As people the same thing about the while he walked up and change the channel on TV now you know Anna be uneasy and no you capsule. What else he seemed down. Are you depressed. He's crying in your profits. Now I snap out of it. Oh growing up his Alley when somebody's having an emotional moment in the opposite views this what you have to kind of escalate or are you down a little you know. Don't say this and evidently you're lucky you don't want he named Watson that note not you always told me half of the year to date when I was raising my kids blow to the days when you come into the office and say. Don't have kids bury it peculiar that a lot. And no doubt you'll say and a lot don't actually interprets it is late don't have kids can elect people that wanna like push someone off the bridge and I actually gonna put someone offer bridge so far I haven't found anything I haven't said here's some ridiculous idea about providing advice all the time I'm racing daughters and married right now. Dating advice and I figure it out all the time what you want it or not you're going to get free dating advice I've been told this a million times you RB it's you're just being buddy buddy you are being a funny Dudley pretty regular. My favors when he called. Shorts short pants with thrown for us and our cultural and ethical shorts for the pants. The be like calling a teaser short sleeved T shirt yet no torture is torture. I'm mad at number eight on the list. What are you likely hit that you don't even know what that means who says that iced it and the safety unit that is the case that with the use. Are you you'll see that your kids to Spaniard and in the first nine for nine the last one the one that I know have said multiple times should you really be eating that I get that said to me. Pretty Reagan right at deficit and for the right reason. If it tastes. Hours in the probe was like seven or eight these owners and the problem is like to Wear. Once you would like again I think it like after asking of someone goes to church the falcons like slam them for whatever they say yeah that's probably not the best thing. Other than that late the blonde moment things that a problem bro I can see that being a problem. I don't care but I could see opium problem I don't have hair so like you have more kids you know. He's just say that people tell me all the time you don't need it really turned my head because there's too much glare like. What are you gonna do is supposed to Nazi these things when they're all things that you would say. In a bar there'll opens its soccer that you want if things go to Florida wouldn't say at war hero away or something that they expect us. But the league is just not like what I would like on the list you know. Free dating thing I like about free to let me tell you if you want free dating advice to text and I'll give all I and Antonia. Ticket to date like 500 women by one area so I'm not sure that the real challenge would be there right when they say it's a numbers game yup no in U played the numbers that mean he. Use one millionth. Who's there every year but every two weeks talker. Chuck would come into the office it's eight. Area and I need to I need to change the beneficiary about like insurance. They. I I didn't do every two weeks I think every few weeks so it would all love caught every two weeks and then you know elected Tuesday later. He'd come in and be little bombed out to you know you ask why you depressed oh that's right depressed and he is not being appointed body so I I need to change that beneficiary back to my mom and and then and it's editing my feelings you tell me why you using that you know. As a vicious cycle and how it goes. Up next we will have the answer to our trivia question it will have stock talk with Stephen Guilfoyle from thestreet.com. Grab a pencil paper stock stock is next. From our insurer match dot com studios. Trump's first 100 days didn't pass any significant legislation. But tax reform and Health Care Reform are still on the table. We'll either passed before the end of the year and keep it here with the Berrian chuck for the latest on the president's agenda and how the markets are reacting this is the financial exchange radio network. Hi this is very Armstrong if you're -- regular listener to my show you know that I've been a long time customer of leader bank I've been doing business with them for years because they're always coming up with great deals and here's another one that you should look into leader has just launched in these savings account providing free online banking with a one point 15%. Annual percentage yield you can sign up online right now and leader bank dot com no minimum balance is required but this product is only available through their web site so log on right now for more information at leader bank dot com this rate is effective as of July 18 and may change without notice get free online banking with -- leader bank's new. 15% annual percentage yield and no minimum balance and remember this product is only available on line to logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. Member FDIC a minimum Alex fees may reduce earnings rates subject to change without notice and may change after an account is opened. Your financial strategy has to include a thoughtful insurance plans and insurance exists to protect your assets. We're friends of the insurer mention 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 a free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers lake you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match let's 84499. Match insure a match works with the leading carriers in the industry like our bella Plymouth Rock -- more. There relations for all types of insurance and continued time stress the money we've just one phone call and one relationship. Called today paid for four of 99 match or go online and insure a match dot com. Hi everybody it's variant Todd with you here with a quick tip from the legal exchange showed doc common. Todd I wanted to talk to you about the five year waiting period for Medicaid eligibility. As it applies to the use of the medic and a light the state so let's say. I Cree I. Give by house away I give it to the kids. Does that five year clock start taking if I'd done elect the state yes so if you take your house and many people do this if you take in your house and transferred to the children. And reserve the right to live there you know does that create a five year Medicaid out absolutely it and that's the definition of Alexi Wright giving your stuff away give it away but you you do reserve that right to live there so that's at least something that you're keeping which which is certainly helpful to you post to pay the property taxes and maintain the property. All the property taxes and maintaining is all done by the light Tenet and you know but I I want to stay on the five year waiting period just for minute because so many people think that it doesn't apply either and for the life as the arrangement like you mentioned very. And also too when they make you hear people I can give 141000 dollars a year away because I I can do that and not pay any gift taxes. That's true. That's an IRS regulation. You'll pay any gift taxes but you will have a five year waiting period for Medicaid eligibility so it does apply to almost all transfers and including. A life for state arrangement so yes I thought the folks Cushing and Dolan is making a brand new guide available and it's very helpful for those of you were thinking about giving your house who use like the state compares. The advantages and disadvantages. From a life at stake to an herbal herbal trust the phone number to receive guide. Is 8668485699. You can download the guide right now. By going to legal exchange show dot com or call toll free 86684856998668485699. Stay on top of breaking financial news by becoming a member of the carries brigade blog on the financial exchange showed dot com and sign up today. Buzz Aldrin made history as the second human being to walk on the surface of the moon following. Apollo eleven mission commander Neil Armstrong. Rick from Sharon Vermont is taking home the prize for the beat for being the first person with the right answer to go made 25 dollar gas card to. Today. We're joined now by Stephen Guilfoyle from the street we've got a couple stops to talk about with them Steve thanks for coming on. Steve were stuck let's start first with god Nucor Corp. can you talk about what this company does. And whether or not you're bullish or bearish on the. Well this wasn't traded got so much investment sought. I'm moderately bullish although it's and it's okay today. Of course still company and they reported this morning they report that dollar purses of dollars extra expectations so the best on the EPS slide. Revenue was those 21% but it Europe Europe's 7% but it quarter over quarter. What ought to say about these guys nor say average sale price per punt was up partnership that outside customers result. Overall operating rates back steel mill was up slightly. Acquitted he's in good shape the dividend paid 2.5 percent and eight beta for a 177. Consecutive quarters so those are the positives there are positives. On the negative side. And surgical saw higher. Scrapped court so hard so they have higher costs and they have this import problem. This doping problem that the truck administration is working on. Imports in the steel industry were up 50%. This first half over the last burst happened 26 to eight now export import account for 47% of the US market so that's why this one trade not investment. If the administration goes forward with section 232 investigation it and decides that they can't come to some kind of agreement with the Chinese which are working on the last couple days. If there are tariffs and quotas and Bob. Well then there's they've I believe you're looking at a significantly higher price I think you could probably get 65 dollars a share if that's the case. Now if this just goes on and on and on like it seems to go and there's not really any definitive definitive happening space. I don't think you wanna hold onto it forever I think your attic points. Is about a dollar lol from Europe 57 dollars and recorders. Let's go over let's talk about KeyCorp now this is a relatively decent sized financial institution what stands out to you about them. KeyCorp I've got a great quarter they're report this morning as well they beat their expectation on the EPS one by two cents. And revenues were higher at one point 9% higher I get the stock Donald 4% today. And why is not a mean there's a litany of positive cyclical which you're probably waste all your time but the no one positive was probably net interest margin and in the called this morning but ordered the CEO actually questioned Kennedy's sustain because as we see the yield curve is starting to collapse again and more term registration story quite where we thought they would be at this point. Maybe a couple months ago so even though investment banking is ritual even though the integration. First were has saved this or something like 400 million dollars in annualized savings over the quarter even Opel interest income and noninterest income popped. A total loans pop and they increase the dividend the stocks taken it in the bush today so I believe this is after the selloff. I think it'll look what he said Mordechai she's gonna be a CNBC by the way about the going to be a great show so you want to get to hear from her again I think you will by the pace. And I think you probably can get torn in half to 21 dollars this. Very good Stephen thank you very much for the time we appreciate it. Stephen Guilfoyle from the street the stickers on those two companies new corps has the ticker and you you KeyCorp with the ticker. KE while I lot of requests here for dating advice gentlemen. Yeah you guys are closer to the day I've been dated to years. Lot of request for dating advice yeah okay Tex lines I mean if I just. I'd be so give it. About Tucker you are right here the most recent got to get married now and haven't needed like little while I was sent along to our relationship so casino count mount a rally checked you were date for years never settle. Oh yeah. But never settle OK that's number one. We eat we need a lot of tips here and don't ever admit you're wrong. Don't ever got don't remember your ever admit you're wrong now apologized and a policy that that's Hampshire. Explains why he didn't get married to lose him. It took awhile I mean again like you do you gotta you gotta play the numbers really I heard it was like delta colors right Jesse. Today that that went literally in just we all bow we we got. Yeah she puts up with a lot of crap she must yes this. I don't know rip time for the snow but we had a listener emailing us today asking you guys about a specific company to real time that I. It was this is from Mike from bill wrecker want to. Ask your opinion about Nvidia stock pickers and ME TA what are your thoughts on that going forward. Yes so Nvidia play on it and autonomous cars in it's in the Israeli company I think it's no suits its autonomous cars and it's also. And looking at. Crypto currency mining okay Nvidia makes graphics chips to computer processors. That are heavily involved in any of the processing for bitcoin Experian and any of the other crypto is out there and two other stocks rallied so much this year's stock's up 55%. This year so it's not the autonomous car tech is they heard they had the best technology they use some of the but that's a tiny pieces and ninety billion dollar company right now. That's a fraction of their overall business right now so they're really into the crew did so you're talking about big poignant theory and that they're also they've they've got a lot of chips in law that's our. You and I didn't understand every day he try to explain it to a guest on get a good BI to try to if you ever get it if you ever understand the world is against its. You know beyond mice that you know thanks to Mike from bill worker but I email up and my Tucker your advocate if you wanna ask a sudden just go through talker who last missed anything. Dow is down 26 points crude oil up 35 cents a barrel at 4747. We talk about marijuana in the next hour from our insurer that dot com. With the market continuing to be highly volatile I'm sure a lot of you are refocusing on the types of investments that you're making hi this is very Armstrong and I'd like to talk to you about preferred stocks as an investment tool there are two types of equity securities common stock and preferred stock but they each have different characteristics preferred stocks for five investors with a share of the company's ownership but the air typically purchased when they focus on income this means that the stock's value can fluctuate based on the movement of interest rates rather than the movement within the stock market called now 803934001. To get my free guide to understanding the basics about preferred stocks that's 803934001. Or you can download the guide right now at financial exchange show dot com so. Jury suffered through securities America incorporated member finreg SAP c.s and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917900. Or visit leader bank dot com. Member FDIC equal housing lender and the lowest number 449250. Subject to credit approval leader bank a step ahead your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by your bank's local underwriting processing teams for additional information call 877697900. That's 8776917900. Or visit leader bank dot com. Member FTSE equal housing lender and Miller number 449250. Subjective credit approval leader bank a step ahead you're financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends that the insurer match agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match let's 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 well so they get all the discounts preferred customers late 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 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 844. Preferred stocks that very few individual consumers and investors buy preferred stocks. A lot of people just don't understand what they are that's where were having a conversation with regard to preferred stocks. What makes chock what makes a preferred stock preferred an amusing your quotes. One of the biggest things is that. Preferred stock owners tend to were rather or required to be paid. Before common stock owners both in the case of any bankruptcy but also in the form of dividends and distributions it would it does. Is it puts you ahead of the common stockholder. In the overall corporate value change. All right so if something were to go wrong with that company there and go bankrupt now often think about Wells Fargo right if Wells Fargo were gonna go. Out of business preferred stockholders would get heat before common stockholders on any company Freddie fuel preferred shares now. Not that many companies actually issue preferred shares. Although many do it's it tends to be typically financial companies that do they typically do it is a way of raising cash without deluding common stockholders. But the benefit of this is that those preferred stocks typically pay out anywhere between five in 8% and as I mentioned. That distribution has to be paid before the common stock dividend so once again it gives you a little bit of a leg up in terms of priority to collect income. Would you like to learn more about preferred stocks call my office 800. 3934001. And receive our guide to preferred stock. The phone number 803934001. Or download the guide right now at financial exchange showed dot com. Pull free 803934001. 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. 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 buyer gold locally we just make sense of leader baker Colin learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader back a step ahead. Many of you listening today are probably retired are getting close to retirement age so have you taken time to think about what happens if you or your spouse gets sick and needs nursing home care hi this is very Armstrong with the question what would you do if your spouse didn't have enough money to live on because you were in a nursing home and depleting your assets like tens of thousands of dollars each month how long we Germany last if you share these concerns that I want you to call Cushing and -- they've got a new guide out this month that can help educate you on how to deal with this problem you might need a life estate or an irrevocable trust which one would work best for you give the experts at -- and -- and a call and let them help you create an estate plan that will not only protect your assets from a nursing home but it will also help your family avoid probate and potentially eliminate estate taxes call 8668485699. That's 8668485699. Or download the guide right now on their website legal exchange show dot com. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're Jumbo loan program designed for financing an excess of 500000 dollars offers fixed or variable rates for both purchases and refinancing is all originations are managed by leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 44950. Subject current approval leader bank a step ahead. If you're real estate or property management company you need a banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and real 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 its innovative 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. This is the financial exchange with Barry Armstrong and show Oksana. Tour exclusive look at business and financial news affecting your day. Your city your world stay informed and today about economic and market trends plus get breaking business news and the today. And now the financial exchange with the very Armstrong and chunks. In a best. Is coming to a town near you that's right handed this marijuana he. Whoo who enough people tree tree tree they greener and greener it dream man Pena. It is coming it's already legal really little terror mantle marijuana is legal I mean it's legal in Massachusetts and I'm pretty sure Connecticut is gonna make it legal recreational basis Rhode Island disease and rumored to be making it legal Vermont. Might be the next state to make it yes the only state that it probably won't be legally for quite some time is New Hampshire. Hi everybody it's very truck with you here on Thursday he would have. So much for live free or die code to do I have that right though he's just about the mean. And Massa senior L set mass year old set heading into next year in RD grow up in you're Egan of retail stores and mass by the in the next year okay. You know Rhode Island and those been talking about Connecticut's been talking about it. Vermont actually voted down a proposal last year for pole. Which was a little bit surprised because Vermont we know lately about Burlington. If we central neo you know would say. If we central. And New Hampshire does seem kind of be on the outs on the Warner. And you know I can understand it more conservative state that I think it's safe to say that the states. That are gonna have candidates are going to be the more liberal states are open. They really believe you look at where it was electric mixer though he's been kind of interesting though because. It's a conservative state but it does it's have somewhat of again Kennedy you know the whole live free or die in. You know motto you do tend to see you know little bit more flexibility in terms of some things some times. But that's one area where they don't seem to be getting on board with Colorado the first state with wrecked. We I guess I believe so. We'll Colorado has harvested half a billion dollars in taxes and fees. Since it legalized. Recreational. Marijuana the F strategies this is a pro legalize legalization research company in Denver. Says that the state has pulled in 506 billion dollars. Since retail sales began in January 2014 to not that long pitted 200 million dollars in tax revenue last year for goodness you know. You don't number the the impact in the end and we're not. You know when making a judgment. In and we're not trying to influence your thinking on candidates. But I'll tell you when you look at it from a financial perspective. And I've I've spent. Some time during the last six months just looking at the economics of candidates first volley at the 500 million dollars in tax revenue but second a ball. You look at the investment that has been made I I talk to people that are in this business in the Canada's business. And there will be a a grove facility. In in the western part of the state that's under construction as we speak in the western part of Massachusetts. The capital of the cult group facilities not forms. Will be because they're not. Door I don't know heroin doing worse still. There's growth this is a growth facility agreed hopes and it's it's not it but it's not you agree there's no windows right it's it's not an operational base you know growth pursued sadly they're just trying to address up to sound like official 39 million dollar they're not cheap capital investment and how much say that was gonna priest like 8000 tons of entertainment like a lot of tonnage. They are not a small amount of marijuana milk and so we get into this business you're talking about you know 4045. Million dollars to it to get into the canvas business. And so it is it's all private money coming in has publicly traded companies are gonna do it now they're betting on the come they're betting that this is going to be. Big business. But if it's 506 million dollars in tax revenue member match with the profits because the tax revenues were 20%. In the Colorado works out to overall. There the percent I believe them. Just because you've got to 15% excise tax that a 15% sales tax it's had a pronounced impact on Colorado tourism. Colorado ranked sixteenth in the country for tourism. Now I would have thought I guess that makes sensible ski resorts and once you get any get stuck to the couch after you smokes he can't leave Massachusetts. Nationally we're talking here folks is ranked 21 for terrorism Maine is ranked 44. Rhode Island is 47. Connecticut is 42 and Vermont is fiftieth in the country for tourism so I've got to I wonder. If you think this is it the chicken and the egg like what comes first the tourists come before the candidates or does the candidates create tourism dollars. That's a really. Complicated question. I think with something like marijuana you're definitely gonna get people crossing state lines the bike I mean it was Colorado. We see people come from Nevada received from Utah we see people coming in from all the surrounding states to buy yet supposed to bring him back across state lines there's no doubt that people do. So I absolutely think you're gonna see that. In Massachusetts. It's it's not gonna cause your traditional Tories and I think you know no one's gonna come and say adios to see the tall ships and get some marijuana but didn't think this is gonna drive. Think if if say Canada shops are open and a year in Massachusetts and me. And you've got people from New Hampshire Rhode Island Connecticut and Vermont. Driving to those states that is the body candidates I don't think the do and anything else in the states necessarily. You don't think the gay people drive traveled straight lines there's no I I think they'll come across but I don't think they'll stay like I think it's kind of like of people go to New Hampshire state liquor stores they don't cross and they come right back right but once the Rhode Island Legislature sees that. Do you think they're gonna say and we need to legalize it's we don't you underground Colorado and you know but that's a very conservative area of the country. I'm glad you were in India would you Utah's never legalizing it we no doubt at this point. And so. I don't know I mean I guess you could see some might think there's a big enough wave coming that I think most states within the next five years are going to be legal and now. V signal watch anyway that's error our campus segment half of Americans are now at risk for automation. This is an American jobs were talking about I read it two thirds of retail jobs are going to be eliminated talked about here. JC Penney Macy's. Costco BJ's two thirds of those jobs are eliminated up here twenty there. Yup it's it is and again it's not just happening at those levels with the entry level workers and so forth. We've talked about the rise of automation and you know how it's affected. These are financially of State Street laid off a bunch of accountants and they were placed in the software. We know that you're going easy. Increased automation across every industry OK some of the areas that you're going to. You know potentially find areas for offshore not offshore but for automation you know you'll beat someone who's an actuary OK then you do big data analysis with programming actuaries to be out of business. Very quickly I mean counts counseling that was the kinds of things that will you find you build a good software program that can learn and adapt. That's an area where you could have an in actuaries are not paid. Will about a month that a bigger and competency did the big question is have we ever seen a weave like this yeah we we have. They where it was this rapid. I don't know but this rapidly again it remains to be seen exactly how quickly you have that you're about to women is something about the retail sector. Rate that is an area where a lot of entry level workers go. Right to gain employ yet we know what happened with forming over the twentieth century. You know you us that's also higher percent of farmers in the span of eighty years that's it's a big chunk but it's over eighty years is retail gonna happen over ten years. That's a different story that's. These are the big questions that we have to answer because they're not just economic questions social and what would you do with all these people. That do not have skills that were in today's workplace if they're automated. Congress has not raised the federal gas tax since 1993 when Bill Clinton was president. But he narrow majority of Americans would support an increase to help fix crumbling roads and bridges. In their own states Americans say. They back higher taxes gas taxes to fix crumbling roads that's the headline it's a story in today's Bloomberg. I wanna get rid of the gas tax would get rid of it when Allred edit and change to a mileage based apps. Let's look at out of gas test gas tax works in practice at the OK you go from a vehicle getting twenty miles downwind it's getting thirty. You pay less gas tack you still driving caused the same impact on the ropes and so because that. I think that you do something warns that you coordinate with your annual state you know inspection and so forth you say hey. Based on the mileage that you drove last year that's what you have to pay to same rate peripheral is right now the drug fuel efficient vehicle. You payless and gas tax even though using the roads the same amount I figured that you know so from my perspective I go to a mileage based tax rather than the gas tax. Scrap Blatter LA I've heard that they entered around congress Ivan either. It won't get a sense of what they're talking about as potentially raising the gas tax because again it hasn't been raised. Since 1993 and we know that fuel efficiency has gone up significantly since then okay. The the national fleet OK if you look at the US fuel economy now over that time gonna pull the data right now I'd go to the couple weeks back. And let's take a look here yes when you take a look at both cars and trucks is an okay. Back in 1993. When you combine them in this is not including you know your big trucks but this just volume passenger vehicles you're getting about 21 miles again. Okay today Europe north and the kind of point five to 27 Rainsy. Picked up 20% efficiency rates and gas taxes stay the same here actually collecting less per mile drive we have better fuel efficient. While in the federal per gallon tax on gasoline is eighteen point four cents. And on diesel it's 24 point four cents. Lot of support for its surprise I was surprised that there's this much support to raise the gas have to raise the gas tax day I I was as well but outside. You know eat if you do drive around and see what kind of shape our roads are. And I understand why. Yeah I mean I I yen on the when it's highly critical part of our highway system at least your New England. I mean it personal there's a tremendous amount of construction going on which I guess is good that should lead to better roads but the traffic congestion is just unbelievable. Yeah I mean it's it's bad we're getting some Texans saying you know the the money will never go to Rhode repaired no tax help the economy and look at some point you have to find a way to get money towards roads and part of what's interesting is in the US we have a system where we we like to have our money kind of silo dauphin and dedicated to certain areas and I get down on a certain level. But at some point you actually have to build bridges and fix the roads out there otherwise you start running into problems in terms of losing economic efficiency if if you've got bridges that you can't go over to me is that there's so bad now. It doesn't help you you're losing money that you would have generated otherwise that. Sears stock is on the rise when we return we'll tell you watch from our insurer match dot com studios. The debate over tax reform and trump care rages on net Berrian should give the latest on how any changes may have faked your portfolio for your financial strategy only here on the financial exchange radio network. Preferred stocks are unique investments that can be an effective part of a financial portfolio but it's important to understand the various types and the various benefits that come with any purchase hi this is Barry Armstrong there are several types of preferred stocks including street preferred and cumulative preferred you can also purchase preferred stocks through exchange traded foundry TS if you own preferred stocks or are interested in adding them to your portfolio called now for my free guide understanding the basics of preferred stocks call 803934001. That's 800. 3934001. Call now 800. 3934001. To get my free guide for you can download the guide rate now at financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services suffer through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insurer 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 they -- zero you're the perfect candidate for a free consultation to make sure your property and family are safe and properly covered -- them 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 Laker bella Plymouth rock and more. There relations for all types of insurance and can save you time stress the money with just one phone call and one relationship. Called today 84499. Match or go online and insure a match dot com. Markets continue to fluctuate but we've got you covered. Get your daily update on what time and what's not from lake Armstrong every morning at 1030 only on the financial exchange radio network. Sears and Kmart. Used to be two premier. Retailers in the United States they're both. Owned by Sears holdings corporation. SH LD is the symbol for the stock incentive again if that stock is up 13%. Up 13% was up as high 17% at one point on the news. That Sears is going to start selling its ten more branded appliances on Amazon. And also be launching a line of can more Smart appliances with Amazon's Alexa technology in them. I don't know that's not saying the company now. I mean it would it it doesn't seem like it to me still lose and fourteen dollars this year they get it it still doesn't solve any of the long term issues with the company I don't know like it's. It's kind of like if you have a ship that's sinking and pulling one bucket out and saying okay now we're fine now like it just it doesn't seem. I don't think it would be big enough to why meaningful impact but why you from your perspective why wouldn't. Amazon bed with Sears and make it to go on to whirlpool in the Quetta numbered from places would mean. Did have a partner like it. What's an apartment they're just selling the goods on my notes I mean why would you accept a good on your or I understand why like why wouldn't you just do it. Make the whole story here the reason the stocks discussed in this. Again I don't think it saves years you know they give Amazon can make some salesman why wouldn't let its second cost them as anything. Surprisingly so it's just any stocks up fourteen to remember any of the new sales would happen they're going to be coming through Amazon Amazon's making money I mean Sears is not a competitor and the children. No but it Gary vendor through Amazon. We know why why wouldn't you want so on your platform you you would but why is the stock. Why it is I am assuming that people think that this is gonna make more people buy. These seers products just as you can buy them on Amazon now I don't I don't think you know Taylor. I don't. Private school is becoming out of reach for middle class Americans cost of private school has gone. Nuts and he's just. You can we talk cause these days well if you wanna blow to a prep school. Right I saint George's in Rhode Island. So let's do Tony George's choate is the truth is Connecticut right. Deerfield Academy saint mark's Milton Academy Noble's I think if ocean sixty grand. There are go to other guests are gonna guess more than fifty so tuition is for saint George's okay which is in lovely Newport, Rhode Island. Boarding student tuition is 59750. 41300. So it's more than a lot of colleges. That's unbelievable and that's knots. It's even Catholic schools her arm normally death you've capped the schools are probably in late 15181000. Range these days for a 22. Really or what I was an expectancy at that. And so because of this you're continuing to see. Fewer people from. The middle class and lower class going to the schools even on financially what do you think happens we've talked about how we expect colleges to dissipate the numbers schools right days down deep it is an effective we have a story in Ers back. Yeah college number of colleges are down I think 6% your career yup. It is this something we should anticipate with smaller prep schools less prestigious schools and they get in Catholic schools vehicles I don't think so I does it still isn't nearly the proliferation that you have on the college level and ice I think there's still access demand. For these schools right now seized still think there's enough parents. That had the wherewithal to pay 59000. Year for the kid that perhaps I do. I do. I think that unfortunately it's going to close awful lot of other people from going to these schools might have wanted to rich only but there is absolutely demand means. Social Security Administration. Warren's about skiing and callers trying to steal your checks misses the way we we hear about schemes all the time that their frequently. Targeting the elderly dip in this comes from the office of the inspector general if you get a call from an area code 323 number now claiming that they want to give you your cost of living adjustment. Do not give them any information okay what they use they try to use this. Your personal information and the setup pod and change direct deposits who goes in there counts okay. But Social Security employees. Will never request sensitive personal information over the phone so if someone calls you requesting this information especially from 323 area code. Do not give it to. And evidently they miss that had some success of the wise that wouldn't be bringing it up and up and publicizing it. We play trivia every day here on the financial exchange today is no different. What was the name of the Apollo eleven lunar module if you know the answer that question can Texas at 68681. Listener. With the correct answer wins a prize what is surprised that we're giving away gas card to get back I guess start Madagascar's okay. Our text number 68680. What was the name of the Apollo eleven lunar module. The White House is scaling back goals for business tax cuts that's too bad because the I I I think. I think in retrospect. The administration will wish they had started with tax cuts and on health care later or never. But at any rate they're scaling back their expectations. You know what they appear to be targeting now is a business tax rate somewhere in the low twenty. Percent range we don't know exactly where right now where that's 2122 or 23. The back in April when they release their first policy paper on this they were going after a 15% corporate tax remember Steve munitions saying that on CNBC today he got the job and eat it and he's adamant about the 15%. But to get the care they have to eliminate a lot of things wildly eat it just say or note from 351. You've got to go from 35 to twenty and then eliminate a lot of Lou polls still bunched deductions in the polls and things like that corporate worked on in and that's really where. The rubber meets the road is which ones do you get rid of because with certain with certain deductions there are reasons for happen. Okay their reason to have surgery got to get rid of the 1031 exchange deduction. I have no idea display I've been heard any specifics regarding any policy so. We're supposed to get that the next couple weeks OK the expectation is that we're gonna get some kind of policy specifics before. Mid August so we'll see what happens then. But there are other things you know one of the things that people complain about his. They based on the way the taxes set up right now you prioritize companies issuing debt as opposed issuing equity as you can deduct it well why I wanna change that one way around in those the kinds of things that yep the skills the answer torture the question is next for Mark Sherman act on them. You've gotten Barry Armstrong. Exchange on the financial exchange radio network. Your dream home is within reach with a Jumbo mortgage loan from leader bank the Jumbo loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinance this all originations are managed by a leader bank's local underwriting and processing teams traditional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number four corner Dubai zero subject current approval leader bank a step ahead with. Market continuing to be highly volatile I'm sure a lot of you are refocusing on the types of investments that you're making hi this is Barry Armstrong and I'd like to talk to you about preferred stocks as an investment tool there are two types of equity securities common stock and preferred stock but Pete each have different characteristics preferred stocks for five investors with a share of the company's ownership but they are typically purchased when they focus on income this means that the stock's value can fluctuate based on the movement of interest rates rather than the movement within the stock market call now 803934001. To get my free guide to understanding the basics about preferred stocks that 803934001. Or you can download the guide right now at financial exchange show dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Many of you listening today are probably retired getting close to retirement age so have you taken time to think about what happens is you or your spouse gets sick and needs nursing home care hi this is very Armstrong with the question what would you do if your spouse didn't have enough money to live on because you were in a nursing home and depleting your assets like tens of thousands of dollars each month how long would your money last if you share these concerns that I want you to call Cushing and Dolan we've got a new guide out this month that can help educate you on how to deal with this problem you might need a -- estate or an irrevocable trust which one would work best for you give the experts at Cushing and -- a call and let them help you create an estate plan that will not only protect your assets from a nursing home but it will also help your family avoid probate and potentially eliminate estate taxes call 8668485699. That's 8668485699. Or download the guide right now on their website legal exchange show 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 consumer 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 mess residents only he's been reduced earnings rate subject to change without notice member FDIC leader bank a step ahead -- financial strategy has to include a thoughtful insurance plan insurance exist to protect your assets. Our friends at the insurer mention 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 -- one or two cars -- that describes you you're the perfect candidate for a free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry Laker 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 of the SE equal housing lender and MLS number 449250. Subject to credit approval leader banked 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 refinance all originations are managed by your bank's local underwriting processing team additional information call 8776917900. That's 8776917900. Or visit leader bank dot com member of the SE equal housing lender and -- number 449250. -- credit approval leader bank a step ahead. The financial exchanges of live on FaceBook so make sure like nerve agent watched you guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. The pain of the Apollo eleven lunar module was eagle the name of the mission's command module was Columbia. Going from heart which had to answer before anyone else you gonna is taking on May 25 dollar gas card to mobile. As is prize you know we talked last week about the open you'll eat epidemic and statistics were released. And those statistics indicated that we're gonna lose probably 50000 Americans die from heroin overdoses this year. But would they also released was that there are 800 EB 1000 Americans. That are taking open you leads to heroin. At the error and painkillers. Within the last 48 hours it's got the Fed her. It did in the reason why is because it affects business's ability. To go out and find the employees that they need just because a it reduces the labor pool significantly. And then you have businesses that are spending extra money trying to find people that normally they would have to because it would have been easier to hire well you know it would occur to me when I was reading this story chuck who's. Would we have seven million job openings. Five and a half but it was the most recent rise of five and a half but you guys. Close to 900000. Workers. That are on OP yeah I mean. That tells you right here. You know the Euro reaching out of the bottom of the barrel today if you're an employer. It's gotta be tough at this point to hire workers told him we talked about electric boat in in the first army. I I've stock into it though that. Does some hiring an electric boat and there over the decades and in there's one company that's referenced years that was trying to find fifty welders and machinists in a manufacturing plant in Pennsylvania now. And they've narrowed their pool down to a hundred. But either out of that hundred people that they had found him. Half the candidates either criminal record or failed the drug tests as are not guys get hired an electorate to know exactly and so you know those are some of the challenges that you face. When trying to bring people on as you know because of the open or an epidemic you have people who otherwise might be qualified to eat you can't hire unfortunately. Now you know the media business is going through a tremendous amount of change and specifically I'm referring to the television business. Unique you just wonder like right now how many different newscasts. Do we have. You know in most men in a major city. In in the country five or six maybe what five or six yeah in the ballpark and a I don't know if that's sustainable. Anymore eating about the amount of money. That's being spent on local television advertising nobody watches the local television are very few people watch local television advertising that there's still some outside the basic news but yeah you know you still some people watching networks of stuff the viewership is still there. So strong as it was but still millions of people is and it doesn't mean every time I look at those Netflix numbers and I see. You know which they grew domestic subscriptions by over a million right I look at that as being people that. Turned off their cable box and are now watching exclusively no no because remember it's it's not people move turn. I haven't added Netflix subscription but I turned off my box we just took. Five years to get there. You know they may eventually get rid of cable but either way people cutting the cord and they are getting their news on the Internet. New news in general is threatened just because there's different ways people to get it to. I wonder what happens away like gave the I read this. Piece in the times about consolidation. In the year you know does he ABC merge with NBC this fox merged with CNN IA. What happens go for because I don't think there's enough eyeballs to go around. And I don't think enough advertise you look at the cost of news production. Eagle is not cheap you've been in TV station gets in the city it's not cheap. You've got literally hundreds of people that work at the end of a TV station. I don't know if you can see they additional large scale consolidate like I don't know if you can see Comcast by twentieth century fox News Corp. something like that. Just because I don't know if that would get regulatory approval because that market so consolidated already. I just don't know if you're gonna see something like that I do you think you can see the continued thinning out of news desks and things like that we look at NBC Boston. Very easy the buildings watching. If they're news yeah I've I've looked the ratings at all John John Mooney was in. And he shared them with a C they have like 36000 people watching the news which is nothing. And in this Maya. You know so how much how walk into what it's costing this they're they're burning through. Tens of millions of dollars to produce that news news and they can't be much for the ads is always watch it. Don't know I mean again keep in mind late. There's more to those networks than just news him you know news a small part of what local networks actually do it's it if you look at their actual programming to about 25% so. The senate a lot of percent car. The day and a lot of their cost comes from no doubt about it plateau it makes me question as it. You know whether you're talking about that any news station any television station. That's producing news. I'm highly skip that like five year from now I can't imagine chuck these in the evening newscasts I think local news is always gonna have a place yeah I do. I do I people people continue to want to. See and get that and as an example. You know you might see someone who's streaming stuff online it doesn't show what as the ratings you know I think there's definitely some of that it's happening people still go to UC BS boston.com just a look at what's going up. There's still that that happens it might take a different format is going to be adjustments but I don't think you're gonna see any of those local stations you know completely going away. And if they do I think you're gonna find something popping up to fill the void. During the month of July Cushing and Dolan is giving away an operational guide to light the states. As compared to terrible public trust how would you rather protect your home from an arsenal. Call 8668485699. To download this guy eager to receive this guy they'll mail it to you could call that phone number. If you would rather download it immediately. You can go to legal exchange show dot com Cushing Dolan. And operational guy to like the states vs -- will trust the phone number 8668485699. Speaking of news FaceBook. Is keying in to the news business in October. Truck they're gonna start offering a subscription tool for news out. You know what it is is FaceBook has if you're familiar face but it all that what they call their instant articles product. Which allows publishers to post news articles. That a red directly through face button so what they're trying to do is they're trying to also allow for publishers to collect subscription revenues on that if they want to build subscription services for their news products on FaceBook and FaceBook take pieces. FaceBook that they could tugged at my guess is if FaceBook wants to sell the ads okay if if you know Washington Post or New York Times is a huge sell the ads we don't want to deal with that. FaceBook would take bigger chunk if they wanna use their own ad sales. They won't take as much. For unity of the target your news as a conservative think me because I'm thinking people spend enormous amount of time on faced hours today in what way I guess well let's say your sports and yup and you're real old. Fans of the New York Rangers Coca. Would you be of the customize because I'd actually I think might have some appeal for people do it again I like Tucker who's a huge football he knows more about football it's scary. It doesn't sound like that's the direction that they're going in just I think the licensing and logistics of that would be suit challenging the reason why. So let's say that you say OK I wanna subscribe to all my range of news. Had to decide who gets paid off him. You know if the New York Post putting out articles and any time like that needs to publisher you're gonna look I wanna publisher based right now. The BI and you present is really interest I don't know if it. I just don't know how you figure out the back and why would I pay for the daily news word the Boston Herald. Is it true you don't lose you know through baseball's your face you don't believe FaceBook everyone spends so much time there already. Again that's what they're saying okay. I like your platform better. Because I think that's that's a more interesting concept to me is pay I'd like topics XYZ. Or give me everything that your select publishers have on that that that's interesting. But the problem is how do you pay those publishers is that based on the articles based on the word is based on the impression. How do you pay them. It's a complicated problem for FaceBook to figure out there now watchers. T-Mobile and it pretty headquartered in the did T-Mobile so 786000. Net additions to their subscribers vigilance and they just undercut the market position to do this now for Tennessee to three years where they. Our beanie got this CEOs a little bit edgy. Name's Sean who care about John gear he has made he is a marketing and sales genius. But he is that good is it just price though they accidents on detonate the latter I think that qualifies as he did and he if you're losing money. Well nobody sees the way that he attacked these companies because typically we hear about market power you gotta be the biggest company out there have done he said look. I'm not the biggest company down and try to grow wind of it by undercutting you and what you found is through T-Mobile it's it's. Fascinating business the way they've done this because they're still making money to profitable company they're not losing money on people okay. But what they've done is they've effectively force. The big companies your AT&T'S and Verizon's of the world to bring their prices down good for consumers and John alligators primitive look. We're selling a commodity. At the end of the day you're selling commodities the ability to talk to people or transmit data that's what you're selling. There's no it's gotten better data you know bonuses while my data rate you know. It's hate is your network Gooden leftists to transmit the commodities that we want. And they have built a a beast in doing that I mean this is a company now it's got nearly seventy million subscribers at this point. And they continue to grow. You know additional growth the of the big companies are Verizon and at subscriber losses last quarter remember now AT&T is either flatter not growing. You know. So I respect the job that John Goodyear's done their because he's early this spring it was similar to T-Mobile and T-Mobile loose or surpass Brent. Yeah if you actually catch and up to Verizon and AT&T. Yet the if you the largest US wireless cares if you go down the list. Verizon's got about a 146. Million subscribers AT&T'S got about 132. Then you've got T-Mobile and sprint is about ten million behind T-Mobile right now so. You know Tebow was firmly in that third place seat. And I wouldn't be surprised they continue to grow and provide a bigger threat to AT&T and Verizon. Up next we'll have more dating advice for you will be joined by Matt actually from rotten tomatoes talking about what you should take your sweetheart see at the movies this weekend that more for march or match dot com studios. The man over trumps economics continues to affect the market. Get the latest info on the sectors that are winning and those that aren't right here with Berrian jock on the financial exchange radio network. Hi this is very Armstrong if you're regular listener to my show you know that I've been a long time customer of leader bank I've been doing business with them for years because they're always coming up with great deals and here's another one that you should look into leader has just launched in east savings account providing free on -- banking with a one point 15%. Annual percentage yield you can sign up online right now at leader bank dot com no minimum balance is required that this product is only available through their web site so log on right now for more information at leader bank dot com this rate is effective as of July 18 and may change without notice get free online banking with leader bank's new. 15% annual percentage yield and no minimum balance and remember this product is only available on line to logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. 3934001. Call now 800. 3934001. To get my free guide or you can download the guide right now at financial exchange showed dot com. Security czar for its securities America incorporated member finreg SIPC and advisory services suffer through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated your financial strategy has to include a thoughtful insurance plans and 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 -- 84499. Match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered we'll also -- -- all the discounts preferred customers -- you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match -- 8449. B nine match insure a match works with the leading carriers in the industry -- bella Plymouth rock and more of their license for all types of insurance and continued time stress than money with just one phone call and one relationship. Called today 844 of 99 match or go online and ensure a match dot com. Security suffered through securities America each member finreg SIPC an advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Get the latest on economy from CNBC's senior contributor Larry Kudlow every Friday at 1045. Only here on the financial exchange radio network. Leader bank has just launched these savings account providing free online banking with a one point 15%. Annual percentage yield. You can sign up online right now leader bank dot com mil minimum balances required that this product is only available through their website. So log on right now for more information at leader bank dot com. All right it's time for our. Dating advice segment we're gonna. Tell you what you should do. Were. You know your wife for your husband this weekend in terms of what you should take Nazi movies gavel the big movies this weekend which I'm go to C Friday or bomb a ticket for is Don Kirk which is being called. Christopher Nolan. Is one of his best masterpieces. It's got a 95%. Already. On rotten tomatoes and idling its over downing further. You know this is only an hour mean they rotten tomatoes for a lot of us yet we were so east of like when I go to Amazon yet. If it's as you know it's where stars are bright so rotten tomatoes percentages calculated according to all of the film critics' reviews. Coming in to make one percentage how to reach that movie so anything 60% up. It's considered an area fresh tomato and anything ninety's and up is slight you know. That's really out tragedies like extra fresh or something yes that yes I finally for a show that's like five storm yes exactly so this one I would be you know I would fully expect this one to be nominated for an Oscar is this really Dayton. You're now. If I mean movies date movie death so he he would do like their own date yet but you know escape from governor are women you know enjoy it went on. Just wondered then my way of state highway we would recognize the fast and the furious if in my life if I said oh we're gonna like Dunkirk she'd do it again so were the best part about it you know use your war movie right and you that's exactly like your your fully expecting you're in for you know two and a half three hours and I was an hour 45 I was shocked to see which is a relief. To see it's only an hour and 45 minutes ago that bureau I like it. And because of the anyone that three hour long you gonna make it full on commitment to that movie. Which I would do for Chris any Christopher Nolan film but without you keep referring to this guy who announces he's he's done all the Dark Knight movies Dark Knight Dark Knight rises sees don't have Batman yet all the bad men a recent movies inception interstellar at those. It is sexy ex stellar heated memento. Mean you can go down the list he's done a lot of very impressive. First you should insomnia was really good to gets the publicity yep on the proceeds Tucker mentioned but there there's an awful lot that's on his teeth he hasn't had a bad movie. Time in this this movie's film and seven millimeter IMAX camera which is like the best camera. So if you wanna gaudy way to prepare lecture where he's going to see it. I'm going to one of the local IMAX theaters to see it because it's just I would be signed acts like but it's thick it's it's it's the camera uses nobody is what makes an IMAX theatre. It's just a better picture it's better sound its better angles everything which is crystal clear what what it does is so IMAX provides additional clarity on the film and then the sound also. Yeah is. Pretty much it in much improved sound setup as well also gives you a much more immersive XP here so if you're into the experience I would highly suggest she go find an IMAX theatre to see Dunkirk but if you Morton's story line. Your fine is going to regular theater. And then typically how long is it before. The movie gets released in theaters and before I'll see it on Netflix or Amazon. Six months cash to our and that is loans so if you don't see at the summer you know if you'll see it on demand or Netflix December or January exactly right our Oscar season sort of they make most of their money in the theaters. Oreo so what what in terms of who makes most of their money the producer of the move yet to be the guy. There's there's risk associated with you make a movie with the cost to make movie hundred million tournament. So this one here taking a look at Dunkirk to see exactly it's like when he cost us like because a 150 million then you toss and generally the rule of thumb is whatever the production budget is fifty an additional 50% goes to marketing so it probably about 225 all in. To go and put this together. What would you expect in order to have this sounds like a billion dollar movie. For this to be a success they've got to do at least 550 to 600 million worldwide. Yeah by levees today isn't he said the car otherwise funny otherwise not getting your return on investment yet trying to make 2.5 factors and not make and there's no profit currently has a lot of your movies or does joins us you lose money. You invested in that this money you know 23 years ago to get this process started the figure it's really about a three to four year cycle to actually get that money back so you figure book by took 225 million put in the stock market for years ago. It's worth 400 today I need to be able to show that I'm doing something more than that otherwise it's not worth my money. So if they're releasing this movie tomorrow which they are we talk about the movie done colonel tonight and then it actually via okay so they're releasing it still tomorrow. Mr. The if if they're doing that win would this have been. Shocked lately and they've made this your notes and notices of this they started shooting this I believe back in twenty. Fifteen late when he fifteen early 2016 yes it was early twenty sixteenths a year and have to do your candidate they started the production work then I believe he in the I wanna say maybe six or seven months ago after they wrapped up filming but this this whole production started when he talks abnormal year and a half it gets out of here. And I a year Stillman seems like it's longer for Nolan films I've known about this for since 2015. So yeah it's generally from from. Funding to actually. Producing and having the movie done. You generally between two and two and a half years removed from is it private money your public money on I public. Trading company it depends suit who the producers are mean in this case it would signal and putting up some of his own money it's also coming through the production company so it's it's across the board. The Dow is off 51 points as we speak nasdaq's actually up and oil trading down 23 cents a barrel. At 14689. Very chuck signing off for mark sure bet that constant.