Sep 6, 2017|
Full Show 9-6-17 by The Financial Exchange
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This is the financial exchange with the very Armstrong and chunks are now. You're 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 chuck Exxon. Hurricane Irma has just devastated the islands of Saint Martin and Dan Wheeler is now headed towards. The US Virgin Islands of the British Virgin Islands. Should be hitting Saint John in a matter of hours hi everybody it's Berrian truck with you here. On a day where we're just beginning to recover from hurricane Herbie. And now hurricane Irma is headed towards Cuba and eventually Florida. Gonna be a a tough weekend I guess the they canceled but football game you were you mentioned this yesterday there's a game scheduled for Miami area. Yeah and and and this was a game between the the Tampa Bay Buccaneers and the Miami Dolphins and so obviously both teams you know down in that area and they don't know exactly where this hurricane. What was going to strike and so they postpone this game. Two week eleven so this games actually and and being played on Sunday November 9 as an official yes went back about about forty minutes. Oh gotcha America. Certainly played anyway 700 flights have been canceled. And I'll tell you if you have friends or property in South Florida. It is looking like south for its gonna it it almost looks like it's gonna go right up the gut of Florida it's it's it's hard to project on this one just because I've I've looked at the different tracks that are out there and they all diverge a little bit. There are numbers that suggest that this is gonna go right through South Florida and pretty much just north of Miami and in and a mute decimating that area and I've seen other ones that show it turning up words and making landfall on South Carolina. So it it still is a little bit up in the years Barr's exactly where this is going to end up going. But with Florida being threatened so clearly here. It is something that opposes a a great race to. A massive number of people. Well we mentioned 700 flights have been canceled. Cruise operators are really taking it on the option because if you're taking a full cruise. At a Puerto Rico or undertaking New Orleans and saint Thomas a lot of cruises depart from Sonya Thomas are Miami. Many of those cruises are being canceled as a result we've seen. Cruise operators their stocks. Selling off insurance companies are being negatively impacted banks are going to be negatively impacted restaurants. Interestingly restaurants are going to be negatively impacted. By hurricane Irma and they already have been by hurricane or. Oil and then the other thing the after members that working out they're just a little bit further you've got Jose yes this is you know we're just a few days behind potentially. And that's storm is continuing to build as well on what we've seen some times in the past is. When you get these you know that these motions in the in the air currents and so forth you have a string re get near two or three of these coming through that necessarily the exact same path but new significant storms. Just that and a dual meet a ton of damage in a short period of time. Well they do they do they at any rate we'll give you. Up. We'll keep you up to date is with what we know as a relates to these hurricanes but the financial impact of them. I'd say insurance company stocks actually you know they may not be hit as hard as anticipate as many of them don't issue this type of insurance. Know a lot of them don't just because it's it's so costly and so unpredictable for the just do when you're dealing with hurricanes a lot of cases it's an all or nothing situation it's not something where you might see a hundred or 200 dollars worth of damage and you say okay it's covered by the ducked the the deductible on its. When you're dealing with a 14050. Mile an hour winds. Posters might not be to break. You know it was a bomb you know between now and the storm surge and in so forced it's a mean you are talking about the most destructive force in nature of the amount of energy that these storms produced. The big six policy group faces decision time on tax changes. This group is under the gun with a lot of pressure. To deliver tax reform. The big six include Paul Ryan Kevin Brady. Senators Mitch McConnell and Orrin hatch Treasury Secretary Steven new action. And Gary Cohn who's the White House economic policy chief. Yet so obviously you want them Meyer they want to get this done prior to the end of the year I know the Treasury Secretary minutia and had previously wanted to get this done before the August recess okay. But obviously that was not you know they they were simply not able to complete that at this point so looking at where we stand right now. You know congress is pretty much in session now couple quick break here in the air but really they're pretty much in session until December 18. And so with that. Excuse. Whip that you'd take a look and say okay how long as you can take them to get system the first priorities still as this Harvey OK we still don't have anything. Think about it they want it tied it to the debt ceiling but now they may actually still do it like it is they may have to wait till Irma. They eat wood if you need another you know do assembly bill Herm do a separate bill you know you get the money moving on Harvey as soon spotlight to think about this it's been. What almost a week now. Any having gotten things moving back you know some of the old storms Andrew and so forth if things moving it five or sixty and you know the fact that we're still debating over unit tied to this in tight. Just just do it it's it's not that complicated like you you have people. That don't have food electricity or water at this point I mean it's it it's not that hard to say we need to get things moving. So you have to do that obviously you've got the debt ceiling you've got a bunch you've got to do and you can't really move on the tax reform mentally get that budget in place and so you set any sand. You know it assuming we get all of the other things done by the end September budget Harvey what every need for karma and the the debt ceiling. You sit there saying okay we pretty much got October November 2 weeks in December to do so it's about ten weeks. It's tight. They've had seven games hype they've had seven years we've been working on plans than doing research and you know trying to figure out what the best. Approach would be Alec health care that they have I don't think it's it's been quite the same and even we saw with healthcare that you know they weren't able to get anything done in the span of six months literally every six weeks. So there are divisions with in the Republican Party and I think you're going to see. Beckham to the fore for years you have a lot of Donald Trump supporters who you know largely have a populist tone where they say look we want to help the middle class if we after tax the rich in order to do so. And that's what we're going to do. That doesn't really messed with Republican orthodoxy and near you talked about. What you know what Paul Ryan is in there for what Kevin Brady you know those guys who were you know pushed strongly. By people such as the chamber of commerce the Club for Growth all of which don't want to be raising taxes on the wealthy and so. There is a lot of money on both sides it's gonna be going up against this there are some serious divisions there within the party. In terms of being able to get things done. And I don't see Democrats doing anything to try to help this. Not very man there's there's nothing in it for them as couple Democrats that are up for the reelection in North Dakota place like that that might. Vote in the senate he might but I at a I don't see it happening Ian in the house you know it and that's the thing is if if you sit there and here you you're a Democrat house Suzanne. Why would help be you know obviously as as Americans we sit there symbol it's because you need to religious right or the country. But we know that's not how it works. Washington when you look at this and they in eighty continue to state. That they're planning to go after both corporate and personal tax reform at the same time is there a priority. The heat if if from say an economic perspective. What's gonna be the best thing for GDP jobs growth in wages. Public attacks that you and give. You know it's good that this I don't think I I think what we may learn track is there may not be any kind of a tax cut it may be re distribution of taxes. But there's not a lot of room AME if you talk to the freedom caucus they don't want anything is gonna increase the deficit. They're not gonna vote for anything in the freedom caucus that increases the deficit from its current. Not gonna try it if you knocked it we increased the deficit if you're not if you're being completely revenue neutral corporate sides the better side to go about it because it's largely an impact small business news okay. If you're going to be revenue neutral just moved things around on the personal side does a really do a whole lot is not changing the amount of money that's actually in circulation united giving people more money. See what would always struck me lose you know an and I'm a corporate guy and they push for corporate tax reform. But when you look at how much of a corporate tax break actually gets into the economy yeah right now and not I'm not talking about money it's it's in cash reserves are. You know sort it if kids are buying back stock perhaps maybe some employee bonuses to other employees that are already wealthy whereas if you do a personal tax cut. And you. All of a sudden Thor I want about a personal tax you know you talk about you talk about personal tax redistribution which is you get the middle tax bracket from fifteen down to twelve when he bought the top one up from you know 39. Bill 42 that I play I never think is going to happen is no one. The Republican Party will not go for attacks like on anyone but that helps in that the the because the the lowering it. Right the little wager that fit the 50000 dollar earner is going to spend that tax cut. Think it's making half a million bucks a year if he gets an extra twenty dollars a week or hundred dollars a week in taxes. Or in his paycheck he's a suspended these charities already living within its means. Probably true but you also could be as you see a situation where if you raise taxes to life start pushing some of those wealthy people out of the country male you know we've already seen. In the last few years the highest rate of people giving up their US citizenship in history. And so you know you look at is say look I get what you're trying to do. But I just don't know if that's the answer. Hurricane Harvey created a disaster in the city Houston and it wasn't just bad whether it was bad city. Planning we're gonna be joined by Christopher for bell. From Bloomberg. To talk to us about how Houston. Brought on many of the problems with hurricane RB themselves that is coming up next from the financial exchange radio network. Trump hasn't passed any significant legislation yet but tax reform and Health Care Reform are still on the table will either pass before the end of the year QB here with Kerry and 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 and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. 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Or download it right now -- legal exchange showed dot com -- are strong here and I'm joined by -- -- Who's a vice president at leader bank and were talking about the housing market. The housing market as you know. You know short of supply. Long on demand. And Jake for first time homebuyers. What what is your message to the young couple hours just somebody's out there looking to purchase their first time home. Yes so you know for first time home buyers what we are telling men are a couple things one be patient. Yes you know we we see a lot of first time home buyers who are making five and fifteen offers some time to for fighting house now and offers except it's extremely competitive okay. And so they have to temper their expectations. Oftentimes they're they're paying more than the other half to. Paying more than the asking price and a half minutes is quite common right now in and in some cases are actually having to to research other towns and rooted in. Considered first because. 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B 900 or visit them online at leader bank dot com to learn about their mortgage programs. 8776917900. Liter bank back on. I like talking to a person face to face him a call 87769179. Country. Security suffered two securities America and members finreg SIPC an advisory services arbiters securities America advisors think Barry Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated. Get the most comprehensive weekly economic update from CNBC senior contributor Larry Kudlow every Friday at 1045. Only here on the financial exchange radio network. City of Houston is still recovering from hurricane Harvey we're joined by Christopher up LaBelle. From Bloomberg to talk about how many of the problems are related to bad city planning I Christopher welcomed the show. We're glad to know so Houston as far back as the 1840s. I mean was low lying ground and was somewhat sloppy and. Yeah I it wanted to and I wanted to simulate Houston or there's a huge swath of the US special on the Gulf Coast that was built on. Either flood plain to places that that were exposed to just water. I think what's more important is how they've learn and I think that like colleague Peter corner and I found in the in this piece. Is there's a huge rearrange their places in Florida in the news right now dead that have been very good building codes a lot of it after hurricane Andrew. And yet in Texas which has had a lot of spares the storm itself. Well for Artie doesn't have that same history there's there's lot that commitment to you to owning and to building codes. And flood plain management. And the point we came to the piece was. A lot of the damage could have been prevented but some of it could have and maybe the next time they'll have planned differently. So Houston as I understand it does not have any zoning law. Spread the end zone no zoning codes he can basically build whatever you want where every. Yet and and that you know I think and I don't wanna present that is just too bad decision to decision that has consequences right there that has allowed. Really fast growth and add a lot of affordable homes and we talked people who work. Developers or homebuilders in Texas there's stakes. Look the more you Burton has with the red tape the harder it is for us to build affordably. And are for folks to you to do well. And I decibel argument but but you can also say that there's there's less balanced there should be that well affordability important the insurance companies we spoke to that article said. Yeah and four will reportedly matters but you also have to planning he'd think how ready are we connect storm even things like. Requiring that buildings have an extra foot. Between expected but let us and their bottom floor that when it does flood. You won't have the same sort of like massive widespread flood damage that would put net amount Houston and I Parse the coast of Texas. How fast is the population growing in Houston. Really fat and that's you know that's I think it started this is after the storm damage cleaned up cues we'll have to say do we want to encourage. Returned to our pre storm levels as fast as possible. Or do we wanna build almost certainly more slowly but with better coats. Patrick challenged at New Orleans went through after Katrina there's no right answer company the one thing that we're pretty sure of with climate change is we don't know when the next storm will be evil we know can it be one and these are either really tough questions. So did the city know that these homes are being built below the flood plain mean you look at some of the pictures in their horrific and you've got homesick. He can barely see the rooftops and any of utterances he kidding with the roof sending the waters like twenty feet deep. Yeah yes it's tough because the city can write at least say. We couldn't possibly have expected a storm just like this right this was so that at the same time they also can't say. We didn't know there was a problem. Riot I think any time you you allowed development in a flood plain. Interview you're flirting with disaster and again the question is how much do you prioritize. The money as a city did you get from new development for taxes and for permanent revenue. Persistent cost that you know you'll have to concur in I have to incur if it's this kind of thing happens federal government has been pushing cities around the country. Just think harder but this stuff I think you know that massive effort will see for months or years underlines how important is that really planned for not just. The storm like it was last time but four and even worse storm that you've ever met. Bunt and that's a valid point on the part of the feds because the feds are gonna say what you need. Fifty billion or whatever the price tag that's right and part of this is self induced meaning you Europe lack of planning at the city level. Is causing you to come to the feds are looking for 50000000100 billion dollars. Yeah and it's a real perverse incentive and you hear from officials talk but this is curious city official and you know the Fed will come in if you make bad play decisions. Been been all your incentives say build wherever you can you know all the revenue and that was something bad happens that a government will come in and pick up almost all the cost to repair it. So federal officials talking to me are saying we're looking for a way that we can put. Some of that cost after disaster on the local officials tomato have a different that it but after a storm is really tough because on the one hand. That's the best time to that conversation. It also looks kinda counts right Oswalt what you blaming the victim but saying OK if something bad happened and now we're gonna put all these new costs on do you. There's really no good way to do it you can act as someone probably watched news says. I know it doesn't look good. But we can't do this again and Serena push you harder for zoning decisions and building code all the kind of step that you wouldn't do it your own. Right in the Texans will be resentful that nobody likes that right no one likes. Nobody wants the federal government telling them what kind of house they have to build or where they have to. You know where the city of Houston or anybody in whether it's in Louisiana or Texas does wanna be told by the feds. I guess how to build their cities. And get it settled that there is to pay for it if they don't do it right it's a real you can sort of you can see what. Where it is probably ought to go but how would get there no one. Christopher thank you very much for your time appreciate. Chris for four valve from Bloomberg brings up a good point you know the I know you're. In a hurry to send the money down parent and from a human standpoint I am with UAE I don't wanna see FAA and we suffer and have no place to live yup but at the same time. Okay Texas you 100 billion dollar to 160 billion Ira Lou what is the price thing. We know we don't know exactly so that's that's part of the promise that we don't know the exact cost. SH a billion dollars could be a lot more than a billion dollars but does the federal government have the right thing to say. Well look if you if if in the world it's if if you want us to send money. Florida is gonna be next or is gonna have their hand out next week and they're assay. Hey we need we need relief because we got hit or South Carolina whoever gets hit by Irma is to be looking for relief money. Why I think there's there's two things to be discussed here the first is whether or not he should get the relief money down there as quickly as possible the answer is yes because where should there be strings attached. Well here's the thing the storms RD happened the people are already displaced by okay trying to attach strings at this point to play politics with people's lives you don't do that. It's it's very sad that all the time I. In in why do you think people were so upset like now why do you think people think the government so dysfunctional because we always do that okay. I think on the back end it's very reasonable to come and say look. This happened once if you want additional help again. Here's what you have to do otherwise we're gonna put programs in place such that you are not able to get this level fading light that. Why not give them the money now say okay here's your hundred billion dollars but we want Colbert built. We want these homes knocked down. We won no development that ultimately you you have to give them the money now because it's a otherwise you eat your that the mistake we are already being made. You're saying is should not be any strings attached I'm saying why it by not attach strings. Go down there and go live down there and tell me that you brought strings attached to. It because you do have innocent bystander it's that are being that it's it's not the. Person who moved into the home whose fault it is is the city planners now okay. Or the lack of city planners in this case and so the way that you deal with that. Is you say look we're gonna deal with the Dow because you were in the situation that Gail was not necessarily of your own fault but in the future Houston if you want anything in the future. Here's here's what you have to do in order to to be able to qualify for any federal funds. It's going to be tough conversation. Gasoline hits fresh eyes as the refineries restart will be talking about that and more. From our financial exchange radio net. Making your Smartphone even smaller here download no mobile lab by surgeons financial exchange shelf in nineteen Jordan who. Good place 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 -- hassle out of round date with zero and leader banks all mine rent collection tool he -- automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more -- see rent your payments for each unit received regularly on the same day every moment tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot meant to learn more or call 7816418691. 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Or visit leader banks dot com member FDIC's equal housing lender and MLS number 449250. Subject to credit approval leader bank a. In the powerful Wall Street watch a look at the market's performance so far today victim Marian joke right here on the financial exchange radio network. Michael Armstrong joins us now for Wall Street watched get you up to date on the biggest stories in the market today. Mike let's start first with direct to therapeutics what are received from them. The announcement from the Cambridge based came addressed just based company they have positive test results for a new. Do shed much good disparate treatment that's stopped at four dollars sixty cents a share over 11% this morning Apple's two interactive's. What's don't know with Doctor Zhivago like knows their company that we always see those commercials no one's quite sure who they are now but what what's going all of them today. Well I knew in Newark player to be you know online vacation booking days have had a ton of bats in what we stand out in this most recent. Report was that looks like they kind of overspent on their advertising being at the cut their full year outlook on slow revenue growth and realize though we kind of overbought unease that purchases. Stopped taking a beating down three dollars twice sensor over 21% on the news. Dave and busters if you ever look at her great place to spend a rainy day it's one of the best out there but the stocks down 10% a little bit of a rainy day for them. Yet big rainy day for that night you know I think a lot of this comes back to locations that have big presences in shopping malls which were a lot of Dave and busters are located. They're their quarterly profit was actually all right they'd be by two cents a share but their revenue. What is below forecasts and they had to adjust their full year comps sales guidance down pretty significantly the stock offered five dollars six I've got a two cent a share down over 9% based on that pour report. Good Mike thank you very much. Michael Armstrong with Wall Street watch North Korea is in the news again and we will be asking trivia questions about Raytheon they are the prime contractor for the terminal. High altitude area defense radar system. And there again radar Raytheon will be the topic of today's trivia. In what year was Raytheon. Founded our text number is 68681. Listener with correct answer. Winning 25 dollar gas card in what year was reach beyond founded and again in studio our tech's number 68680. Checked people wanna know why gasoline is hitting a fresh high even though we've got refineries re starting I think we are now. Five are fully back on line than what another seven coming on shortly. Yet you have seven more that are operating at reduced rates right now that are expected to be back up to full speed with the next week to win the big thing is that you are likely to see. Some higher prices in the short term. Just because it takes a little while for that gas to make its way into global markets actually it's not something. Returned the refinery on today in the gas is in your gas station tomorrow what's the step situation with a pipeline. Colonial pipeline has resumed our gasoline shipments okay. And the explorer pipeline is also well now back to what taking shipments up to the Chicago region as well so both of those big pipelines are back an operating at full speed right now but keep in mind that during all of this you had a little bit of the depletion and inventories and so it takes a little time to build those inventories back up so. Again it might be somewhere in the range of four to six weeks before you see gas prices coming back down to where they would be normally. Because you know let's say you have a barrel that's refined downing Houston right now moved it might take when it's all said and done. Three to four days to make its way up to the East Coast and finally you know get into the system there and that's just when you start to see things coming back so it's it's gonna take. You know again four to six weeks I think to probably get things back. Close to the range that we were before and even then you might still see price a little bit higher heading into Thanksgiving. Are we being gouged pay it that's a question I got this morning I've gotten some emails from on that you know from listeners. Unity based somewhat feel like gee you know the gas station owner. Is still selling the gas that he bought two weeks ago and yet the prices gone up thirty cents a gallon. What's gone up thirty cents gal but that's because that much more difficult for him to replace that so few wanted to go out. It's not about the cost that he bought and that's the cost of buying that replacement so let's say that you have a gas station owner that bought two dollars a gallon it was cell needed to 28. He wants to go out and buy more gas right now. He's got to be able to bide at 240 so in order for me to do that he's got to sell it to you at 240 otherwise you can't afford to replenish its its not about the cost that he bought at news because that he will buy ad in the future that's determining. You know what his price gonna be he's got to cash on hand to make that payment per. Hey if you're a hard worker and you've created a successful business I've got a message for you that can help that businesses thrive and grow. On behalf of the US Virgin Islands economic development authority the authorities' economic development commission offers a tax incentive program. For companies located in the US Virgin Islands I'm talking about competitive. Offshore tax benefit program. That is sanctioned by the US government and allows your business to lower its corporate tax burden. By 90%. That's right 90% does sound too good to be true. It's not. Many US businesses are already taking advantage of this tremendous program if your business owner looking for tax breaks. Talk to the folks at the US VI. Economic development authority can log onto the web site. It's US VI. EDA. Dot org that's the. Website address if you wanna learn how to save 90% on your federal income taxes. US VI. ED EA. Dot org. Well the Houston Rockets are selling for what a couple of billion dollars. 2.2 billion dollars. And so. This would it if it goes through its gonna be the most expensive sports franchise sale is the last one we saw a vehicle it was Steve Ballmer bond franchise he bought the clippers for two billion dollars now that was that was a crazy story about the premier Donald Sterling NN is you know kind of go crazy and lose his mind and everything. Yes of the Houston Rockets are going to be sold for 2.2 billion pending league approval and approval of the other owners who. I'm a little surprises that time in the NBA is popular but it's nowhere near the NFL no cash. And you know I I think in general. It's those kind of thought of his as the third biggest sport in the US behind baseball is baseball so many games and still be at generate some decent viewership in the playoffs. The one thing that the NBA does have is a bigger international presence and then just about any other really got to they've done a phenomenal job of trying to make inroads into China and Europe and obviously. They they've done a very good job doing that that that might be. Did the sales pitch for perspective owner the 2.2 billion dollars is a lot of point for a cup for a business like this is now in the the bought the guy that bought it owns the Golden Nugget casino. He says three has as much yet I mean there's good cash flow coming from those so maybe got to keep afloat for a little while JJ watt raising some money. For over her cane. Harvey he's got his own relief. Yes he's he's raised north of twenty million dollars now he originally was trying to just raised 200000. You reach that goal and two hours and they've now surpassed twenty million dollars. They have sent a whole bunch of goods down their bottled water diapers food the whole bit down to Houston already he's kind of the poster child for the Houston franchise history he might cost 81 or more popular players in the league he's probably I would say if if you're talking just Houston athletes in general him and James Harden on the rockets are probably two biggest ones to undermine in my right on the I probably that played affair it's it's it's the two of them the face of Houston from a sports perspective. And so he's he's raised a ton of money at this point. He has the owner of the Astros is gonna be giving four million dollars as well you've got a whole blunt the rockets owners donating ten million dollars James Harden gave a million of his own dollars to I mean it's it's Europe's huge dollar values. Getting given. Is their football field underwater the and they played this weekend doing. And look at but there's been no talk of postponing Mac gamer. Let me take a look he said that Miami games canceled. Yet this one's views of the Miami. The Miami game has been rescheduled to with the November 28. By week's end of the week I think it worked out that way they both had bye weeks. But yet as of right now it does appear that the Texans are going to be. Hosting. The jaguars act their stadium on Sunday. Local company CBS is setting up pop up pharmacies. For hurricane Harvey victims. So think of this see you know imagine you're you're. On a prescription medication. And you live in Houston. You've lost your house you Gloucester car you've lost all your personal belong to us in you don't have your prescription drugs. Yes a CBS along with thus some other local pharmacies down in the area have set up by these pop up pharmacies. Both outdoors and indoors to try to get people to medications that they need and just because things have been so disrupted down there. And so. As a best in their number of these that are operating they're also giving things like vaccines. Over the counter medications are pretty much anything that you need it's it's a basic health need. They're looking at I would ask the public entity to set you back into that region. But it's I mean again that what you're gonna see here. It's going to take years for them to rebuild that support me and I'll put it because I hit a veteran senator to get things back to in this they're still not completely back to where they were pre Katrina in New Orleans. You know it's it's just I mean. Hurricanes to a home of damage they do that yes if you talk about sandy back in in New Jersey back in what was it now eleven or twelve. They still haven't fully rebuild parts of the shoreline there. Would be easy yet people in New Jersey do without electricity for sixty days ethically yeah I think like two months is pretty much Denon. Hey coming up we'll have the answer to our trivia question along with a story about Wal-Mart is Wal-Mart going to do. To win your Christmas business it's actually pretty ingenious that's our next topic. From. The financial exchange radio network. Trump agenda has stonewalled. But there's still much to discuss very in charge of the latest every day beginning its sending only here on the financial exchange radio network. If you're hard worker and have created a successful business I've got a message for you that can help that business thrive and grow hi this is very Armstrong on behalf of the US Virgin -- economic development authority the authorities' economic development commission offers a tax incentive program for companies located in the US Virgin Islands I'm talking about a competitive offshore tax benefit program that is sanctioned by the US government and allows your business to lower its corporate tax burden by 90%. That's right 90% does that sound too good to be true it's not many US businesses are already taking advantage of this tremendous program if your business owner looking for tax breaks talked to the folks at the US Virgin -- economic development authority log onto their website USB IE DA dot -- that's USB IE PA dot or don't miss this great opportunity the website one more time is US VI EDA dot org. Hi this is Barry Armstrong and I've told you for years about my relationship with leader bank -- been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage -- this is an online product only and there is no minimum balance required so log on to leader bank dot com and sign up today this rate may change without notice that don't delay log on to leader bank doc can't get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new east savings account that has a one point 15%. Annual percentage yield and no minimum balance and remember this product is only available on line so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. And taught I wanted to talk to you about these trusts. Do you in fact need to create trust if you already have a will get that question ally you know like there irony trust I've got a will. You know sometimes talking about the basics is most important and in your right and people are so confused that come and say. I have a will lies they plan is done. And it's really not folks and and and and the reason is once you ask yourself that question so if you just have a whale just ask yourself this do you wanna avoid probate. Well if the answer is yes a will not doing now atlas you don't own a house you own nothing if you're poor you. Will probably suffice it could designate had no assets make sure you put like designated beneficiaries on your packet you know you brokerage accounts. And you don't and trusts are for people that have passed sprightly real properties. Got money in brokerage account. Peace rules that immediate two pieces. I think that's fair I think that the safe thing to do is if you if you want an ill will as the wall as it won't avoid probate it will reduce estate taxes you're right if you don't have. Anything you know the only need a million in mass to have an estate tax though we'll won't reduce your state tax it won't avoid pro but it won't protect your assets from the cost of long term care. That's a concern of yours so those are three Waltz that it will will do so I think the answer to the question is yeah I think you need more. That it will most of the time time to get back to basics folks call Cushing handle and get their guide about basics of estate planning. The poll number is 8668485699. And most of you prefer to. Download the guide immediately to go to their website legal exchange showed dot com it's legal exchange showed dot com to download the guide. For the month of September. It is back to the basics September time to get back to the basics legal exchange showed a. The financial exchanges line on FaceBook and YouTube watch Berrian chug discuss the issues of the day and see which one smiles the most. Is it a financial exchange radio network. You'll landlord who would like to collect their rent electronically visit zero rent dot net. And learn how you as the wind can collect the rent who wrote electronically would be off the week for paper checks. You get the rent collected right into your checking out. Raytheon was founded in the year 1922. The where on this question was jammed from Peabody Janice taking on the 25 dollar gas card to mobile. And trivia today is brought to you. By the US Virgin Islands economic development authority the US Virgin Islands one of the most competitive business locations in the Caribbean. For companies looking to start a business relocate or expand take advantage of the incredible tax incentives that are fully sanctioned by the US government. For more information visit US invaded dot org that's USB. IE DA dot award. All right Wal-Mart. Is entering into the Christmas season actively talked about Christmas of September. We just like spice yesterday so. What's now under our Christmas shop I mean it's Christmas is I ran and I actually you know. You finish yazoo and easier to these gave up. So equipment I need a long season combined for granddaughters so you know the first time of the definitely gonna remember this one via yeah it literally dramatic time. The four box for Christmas though it you know one of the problems I suspect. That retailers are looking at is. You know it's so much easier to shop online than it is to go to the mall right evening about Alia the shopping malls that's. Horrific he you know you really wanna spend a Saturday. In October. Or November or December work for he would. Any month drive you know hanging out a ball just getting into the oval at the mall at the plate and even eating good conditions and once you get to the holiday season it's it's not that conditions will Wal-Mart is doing I suspect other retailers are doing this as well as. There's certain items that you're gonna want for that. Child right. And they're making them exclusively available in Wal-Mart to meet with the big toys are this year. It's not got a list I've got freedom of got a list have a list. You one pack ship. Pat Jamal surprise Daria we're about animals Elliott though last year I think early on that I don't finger laying hands on that was a potato but. These are exclusively. At at while you can get these Kmart he can't get the ease its targets. Little bit Star Wars drove lead inventor kit only going to be available at Wal-Mart. Noon bombs nail polish maker only available at Wal-Mart. For real friends roaring. Tyler at the plate full tiger terrible I don't I didn't pronounce the east lake camp. Back in the day just used to be I wanna relax and here's one for me here's here's why I'll probably end up going to wall. Frozen slight. Right that for you or blankets my granddaughters wouldn't you like isn't that would each year they're don't want prose that's why I can't tell you what. Like it's one frozen like the movie I'll catch us no it's actually actually throw line that actually frozen. Late in an unusual right radio control tumble B. ETech pops a balls drop in pop ball hits. Radio controlled dash cam is all items does say here super duper garbage truck what the heck is that that but those are. That's that's what they're trying to do toys are so bad these days to induce you. To go back into the ball will it work. Now organ with me now I'm not interested no doubt interest and the other thing is you know if I'm Wal-Mart. I know that my growth long term is going to be on line. So why not make some of these online excludes. What if they'll do that one of the you know start to the news is available on jet. I proudly Smart I think they'll be the Smart thing is what you want agree your online business start showing it off you know push people towards a don't push people back in your stores. If you had. Put it online only on line only end and even and that then you could have higher margins as thirty and I'm trying to think what might be. The big theme. For this year's Christmas because in the past years you've had movies like frozen that releasing any big kids. Movies released this year I'd I can't think of that word that where fanatically. It's going to be well what's that stupid show you guys watch the game throats. Right. Yeah not not not says it is at all it's not although adults it's it's not for kids the big kids' movies this year okay. Were Captain Underpants now cars three. Non BM OG movie. Boss baby non despicable me three mount Lego Batman movie maybe. What was the old ninja turtles when you guys are kids that was the big thing ninja turtles in your parents. Clamored to find ninja turtle I was never begins turtle Bay Area all the great they were huge they were they were massive but I never. I was never ninja turtles or the other big one of Power Rangers yeah I never never did I was in our interest pretty hard. Yeah yeah. And that. Well every now here's the thing every Sanders here's something. Fanatically. That catches on. I would be surprised mean all the star or stuff is still going to be big guy another movie coming on December yet. Not a big movie I think I think that's probably what maybe that's the thing I think that probably your biggest one who makes that Hasbro. It's Disney and nobody data on interactive toys at the Hasbro. I think has as the toy license for star I think you're right. Yeah they did very well Hasbro is a good stock for several years how does now I've looked while they've I think we've struggled a little bit this year pulled out but I would expect its Star Wars is probably going to be the biggest thing just as you got another movie tickets coming out in early December so the merchandise around the movie. Is what will induce people to go to the stores or to whips I think so but. Keep money at things you always see these weird one off toys that you know usually it's it's something that originally you know starting career Japan last year was these animals thing which it's literally a plastic egged it a stuffed animal comes out of you have to like at the egg to make sure the animal hatches rate and stuff like it's like. It was weird I get a dumber one then. Yes proto remembrance. The atomic Nazi now is those dumb and dumber than that moment. Pet rocks yeah how about that rock. You do as an elderly Iraq yeah it was a it was a literally are Raj that was in a box and Alec Chia pet. What does that back in the eighties the pet rock I think it was like late seventies early eighties and then Chia Pets were the next one thing that which of those are likely eighties early ninety's now has host Atlanta room. We still grew you know I play they did something but he is it's remarkable. How easily we are partnered with them. A Leo or world soccer we hear. We're suckers centers. The Dow recovering a little bit yesterday had a rough day yesterday but right now the Dow is up 61 points nasdaq's off foreign crude oil is trading at 4907. Program. It's very truck from the financial exchange radio and. This is very Armstrong from the financial exchange did you know that once you turn seventy and half you are re. Juries are for two securities America incorporated member finreg SIPC and advisory services offered to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. 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 MLS 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 leader bank's local underwriting processing teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member of the NC equal housing -- stimulus number 449250. Subject to credit approval -- bank a step ahead hi this is -- -- with an important message for you and your family if you had a successful career and haven't yet taken the time to plan for your future now's the time to make that call Cushing and Dolan and senior partner Todd let's -- have been helping families like -- with their state plans for more than thirty years and he's got a brand new -- out this month called back to the basics it'll help you learn about the bare necessities needed to create an estate plan but will also educate you on important items like how to avoid probate and passing your assets along to your family called Cushing handle right now at 8668485699. And ask for your free guide today that's 8668485699. You can also download the guide right now by visiting them online at legal exchange showed dot com proper estate planning is critically important to a safe and relaxing retirement so don't delay get this free guide today protect your assets and enjoy your -- years 86684856. Out higher -- And more specifically we're talking about required. Minimum distributions. Chuck when you hear that frees. Invariably. Somebody you'll kind of have this blank stare in their face because they don't know it's very hard to calculate how much each year you are required by law to take out of your individual retirement account. Yet the way it works is remember that you get a tax deduction every year when you put that money in to the IRA. But eventually the government wants to get that tax revenue and so what they do is starting at age 79 or seven and a half. They require you to start taking money out of you or hiring it starts off as a relatively small now but the problem. If you don't take that amount out when you're supposed to. There are some very significant penalties that you can end up paying and by the time your eighty. The money that you have to take out of the percentage that you have to take out of your individual retirement account is a lot more than it was at seven it grows every year so it starts off at about three point 7% that first year and it grows and when you get into your mid eighties starts to get to the forwards seven or 8% so it does grow significantly in you have to be aware that that number changes each year. Just a suggestion here but folks you might want to call Armstrong advisory group and receive their 2017. Retirement plan distribution guide the phone numbers toll free 800. 3934001. That's 803934. Zeros or one. For those of you who want it right now. We can dot download the guide by going to our web site. Financial exchange showed dot com that's financial exchange showed dot com for the 2017. Retirement plan distribution guy. I'd securities offered to securities America incorporated members Jenrette SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American 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 buy your gold locally we just make sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader bank. A step ahead this is very Armstrong from the financial exchange did you know that once you turn seven Indian half you are required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their diary or they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% higher rest penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&D rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our website financial exchange showed dot com. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out -- bank is offering in -- savings account providing free online banking with a one point 15%. Annual percentage -- this is an online product only and there's no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice that don't delay log -- to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new. 15%. Annual percentage -- and no minimum balance and remember this product is only available online so logon to leader -- dot com right now -- leader bank dot com -- -- a step ahead. Her FDIC a minimum Alex fees may reduce earnings rates subject to change without notice and may change after an account has opened. And. This is the financial exchange with Barry Armstrong and show Oksana. You're exclusive look at business and financial news affecting your day your city your world and stay informed and up today about an economic and market trends plus get breaking business news every day it's. And now the financial. Change with the Barry Armstrong and sharks. Stanley Fischer is arguably. The second most powerful individual on the Federal Reserve board. And unexpectedly. Stanley Fischer has just announced his resignation for personal reasons effective. Mid October hi everybody it's very in shock and I don't know what you have caught by surprise by this one. Yet is a little bit surprising here you keep you go down the list of current committee members and Janet Yellen obviously at the top. In terms of people on the board of governors Lyle brainer but Stanley Fischer really you pretty much that number two at this point in you know and gentlemen. Payment and doubling down in new Yorker both of them. Are probably kind of 12 in terms of you know right hand man two was Janet Yellen Stanley Fischer appointed by president Barack Obama back in 2014 fish is now 73 years old 737 victory there and he said that he is resigning for personal reasons. So remains did beat neo be seen exactly what those are we might not get a tonic clarity on that just because. I don't think you get a necessarily hear a whole lot then on the Fed tends to be pretty tightlipped about a lot of things. But is it does raise some questions about who comes in to fill in from him obviously have a number of alternate members. And so those alternates that would be first in line to fill in and Rafael Bostick from the Atlanta fed. Loretta master from Cleveland to Mark Mullen knicks from Richmond. Michael strident from new York and John Williams from San Francisco would be on the docket there that's shortly you don't have to have a vice chair at. Was he's not the vice chair no no double is the vice chair he is if fisherman pretty much ruled suicidal. He's just on the board governor Coca hiked I thought he had. Very high title brought it to yell because I know he's brought in after Yale he may be of vice chair of the board of governors but not on the FOMC on the actual open market committee could be that situation. And but I nonetheless he's gone he's gonna effect of it's going to be effective October 13 is when these last days can. Bios Biotech stock doubles in a single day after treatment for a rare lung disease has a successful. Trial. Yeah it was a company called in so mad that doubled on Tuesday after they showed. That and inhaled antibiotics showed promise for treating. A rare along disease and so the stock have been trading just over twelve dollars a share prior. To the announcement stock jumped up to 26 dollars and 99 cents afterwards so more than doubling. And they also announced plans to sell 250 million dollars of shares to the public funds are raising a little bit of money on this news as well. Just to continue to fund their operations and so what they're gonna be doing with that money they're gonna fund some clinical trials of this drug. And try to get the regulatory approvals in the next several years so they can start selling an amazing man. BBC stock like that pot yet this this is that's a let the -- it's the lure of Biotech is you sit there and say look you could W money overnight or you can lose all. A Babson College alumnus and his wife for making a 36 million dollar gift to this college. That will allow construction to begin on 8101000. Square foot building in the heart of its Wellesley campus. Yet this is a 36 million dollar gift that lazy and made by the Weisman family. To put this in perspective Babson and tire endowment is about 346. Million dollars adult. Yes this would be 810% bump in there endowment. Obviously a lot of this money's gonna be spent pretty quickly here. And they've they've been in a big supporters of the college for a long time they've. You know build scholarship programs endowed professorship and so forth. And so the new building. You have group's study areas gathering space is. Cafe and it's also going to be a home for. They're Steven indeed cutter Cutler center for investments in finance their investment division is going to be coming out of that new buildings. I wonder what I was talking to college administrator and one of the challenges they face with gifts like this. Is it's great great 36 million dollar get you put up a building. But somebody is to maintain that building and there's cost an ongoing costs of operation of that building I wonder if when they make these gifts of that nature. If there's also a fund set aside you know do the Souza thirty million for the construction of the building and then they throw six million into a slush. In any doubt and they can maintain it for thirty years didn't make sense I would guess that they work especially and get to this magnitude they're probably working pretty closely with the development office to say look what are your needs. What's the cost the building going to be in the what do you need on an ongoing basis and I would imagine they're doing that just is otherwise you you kind of kicking the can down the road saying OK we'll figure out how to cover this deal later on because. Thirty million dollar building. If it doesn't cost you need your electability 200 dollars a month now you know doesn't work and that's. They've hit the big problem for a lot of east schools they get generous gifts but they're not accompanied by a fund to maintain. Yeah I mean anything after remember now that colleges are getting Smart they're saying OK we'd love to have you build us a new hockey rink. But we also need some money set aside to maintain that rink in by the Zamboni in everything well in. And that the thing to remember is that a lot of people look at you know the the biggest endowments out there and they say well Harvard's got 34 billion dollars you know lie Yale right now 25 billion dollars. The average college. Yet doesn't have a billion dollars there's always something like seventy or eighty colleges in the country. That have north of a billion dollars in their endowment one of these schools you know again as school such as Babson. Great school not a huge school only has about 3000 students but the doubts only 346 million dollars. So I'm somewhat surprised because they've had a lot of very successful graduates you go through SP a young school seems like there really. The they're wealthy schools are the old schools have been around for hundreds years is that what people do truck is the leave money to the school. In there will earn their trust and. And you see that just you know kind of looking around some of the other schools in the Boston area of similar size Wellesley College as an example. The endowment there's about one point eight billion dollars but they've been around a 150 years they were started 1870 not 1920. Okay. So it's I think definitely how long the school's been around is a factor. The prestige of the school it is but perhaps perhaps it's a good school won a little surprised it is as low as it is. But you. You a lot of the schools don't get the big donation Nobel leading down its 241 millions in the same ballpark there. And Bentley established two years prior to Babson so very similar situation I think. You guys go to the patriots game on Thursday. I'm now. Night I knew I looked in the tickets it was the cheapest ones I found was 365. Dollars to get in the door thanks and that is back row in the corner up top. Give me the couch. Go with the couch well I've got recommendation for I'm going out to watch the game I. Dollar grill so yeah just for patriots games beer beer and vomit repellent trainers trainers and if you go to patriots game you need something like that. I'll tell you that there are a lot of Bob Barr's a boss and they're probably pretty happy about this is well now and but yet these. It's it's pretty amazing actually they. They made these shoes to be beer involved repelled and so you can Wear me if you're going at your favorite dive bar where it is dangerous in someone might throw up on your arsenal and it cost so it's it's interesting I don't know I believe they're going for round in pounds to 160 so dollars. To order take 200 dollars to know that they're not gonna be room by some throwing up on them. I was actually be an pale white and they make these and are third and October fest following Europe that's saying you might wanna get them and patriots game. Hurry up and yes they are just a suggestion. Justices justice blackness there they're designed 4 October fest in case someone throws up on your feet aren't got a couple Beers on the mock and so they are calling this the the DP BR coating which is the durable you can be your pal. And it's the classic at the style you know the low cut three stripes and everything yup. And it also comes in and I quote a rich blah brown color away inspired by the classic Bavarian leather pants. So if I also see brown as being something that blends in with you can Beers that's probably the most reasonable explanation I have now. Has all make pants player attitude but a look at pants I mean how would a whole suit you probably couldn't get these in time for tomorrow night's game. Now I know I'm I would imagine you cancel its big guys are going to morning. Then also if you pick a prepare these you also get a complimentary beer out. No egos actually stay up for the whole game chair Aaliyah will trying to start. What's it like eat 38 o'clock it's an 830 kick off because I know that Angela has said all fans should be in their seats by eat the batteries in kind of reality that I might watch the first on NBC. So in that most I watch the first quarter just don't really beautiful. The up next we'll be joined by a business owner his name is David Sawyer he is the founder of safer places incorporated. Tucker you how did you come across David. David actually reached out to us via our website financial change showed doc common Ximian a quick note about coming on the show to talk about his business and that's how folks do right just reach out there just like. Tucker is the gatekeeper Hyannis and if you own a business and he'd like come on air and talk to us about. Business that you have well we'd love to have David Sawyer a founder safer places joins us next from the financial exchange radio network. Markets continue to fluctuate but we'd John you covered get your daily update on what time and what's not from Mike Armstrong every morning at 1030 boldly on the financial exchange radio live. Work hi this is Derek strong with -- an important message for you and your family if you had a successful career and haven't yet taken the time to plan for your future now's the time to make that call Cushing and Dolan and senior partner Todd let's -- have been helping families like yours with their state plans for more than thirty years and he's got a brand new guide out this month called back to the basics it'll help you learn about the bare necessities needed to create -- -- state plan but will also educate you on important items like how to avoid probate and passing your assets along to your family called Cushing handle right now what 8668485699. And ask for your free guide today that's 8668485699. You can also download the guide right now by visiting them online at legal exchange showed dot com proper estate planning is critically important to a safe and relaxing retirement so don't delay get this free guide today protect your assets and enjoy your elder years 8668485699. Or download it right now at legal exchange showed dot com. If you're in the market for a small business loan you need to call leader bank if you are small business looking to expand or improve your infrastructure you need to take advantage of this great deal from leader bank for a limited time your business can get an SBA loan of three point 99 annual percentage rate with no closing costs on loans of up to 150000. Dollars and that raid is locked for four years in a democratic rating of 700 and give you an answer within ten days of receiving your completed application. This is the number you need to call 8776917900. That's 8776917900. Take advantage of this great offer from leader bank a four year fixed rate loan of three point 99 annual percentage rate with no closing costs on loans of up to 150000. Dollars and you'll hear from them within ten days of receiving your application 8776917900. Call right now 8776917900. Member FDIC. This is very Armstrong from the financial exchange did you know that once you turn seventy in half you are re. Required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their diary or they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% higher rest penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&D rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our web site financial exchange showed dot com. Juries are for two securities America incorporated members finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are. Unaffiliated hi this is very Armstrong and I've told you for years about my relationship with leader bank -- been doing business with them for years because they're always coming up with great deals they've got another one that -- surely worth your time to check out -- bank is offering in -- savings account providing free online banking with a one point 15%. Annual percentage -- this is an online product only and there's no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice that don't delay log -- to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new east savings account that has a one point 15%. Annual percentage -- and no minimum balance and remember this product is only available online so logon to leader bank dot com right now -- leader bank dot com -- -- a step ahead. The financial exchanges all over New England to go to financial exchange showed dotcom and search for the station closest to you this is the financial exchange radio network. On Wednesdays and we are joined by business owners we invite them to come on our show and talked about. The trials and tribulations of owning your own company today is no different we're joined by David Sawyer who's the founder of safer places. Incorporated. And David thank you very much for joining us today. Great to be infants David what exactly is safer places incorporated what do you do well. We help our clients create safer places and one of the main ways we do again is by doing background checks when they're hiring. So that they make sure that their hiring someone with a good fit for the job what kind of background checks to do. Will we customize the background check to fit the positions so. Do if a person is hiring somebody vent dome gutsy as the delivery driver certainly wanna make sure that they have though placements and that they don't have a horrible driving record Madison do you guys. But there are almost everybody wants to see if this criminal record so that's included in the background check sometimes we're looking at. Verifying previous employment sometimes it's the verifying education nor professional credentials. One of the questions I guess I always hear about you know yet passed background checked in this and that. I don't know of anyone actually knows. How you do a background check can you talk a little bit about the process what he actually have to do in order to looking to someone. To make sure they're right for a job well first of all they have to sign off phoning me and give us permission to do with so we're not doing anything surreptitiously. That there and on it they know we're doing it in the given us permission to do that then. And then is this that your your room. It's not a guess that the misconception is. That there is some big database in the sky and we just happened to that and we can now rest that we know everything there was to know about it doesn't work like that now it's not like to see NC aside yeah so it doesn't it's not daddy's. We can't just in in few seconds find out all your parking tickets and your overdue library books and how how many different. Endeavors DF to undertake to do background check is it are you reaching out you know DM the police all separately how how many typical A how many agencies the F to reach out to it is all separate. So you do reach out of the state the envy in the state where they have the license. On the most interesting one I think as the criminal records because there's a variety of ways that we have to would go about looking for those. In an ultimately it's up to the client mojo deep of a dive they would take. But and we start usually with from looking at where they've lived through over the past 67 to ten years and are in if you have a criminal record most likely it's going to be. In in a court near where you whipped so we researched those courts. Sometimes we can do a statewide search insert all the courts that once in a particular statement not every state has that ability Massachusetts doesn't go vote Corey system up. Ought and then you'll have to remember that the federal courts keep their own. Records and so we have to search the federal court separately. And then their private databases that we can nexus as well but about a things like credit Jackson of the a lot of baud jobs require credit Jackson ordered two on extra someone's compliant do you do those well. We do om we use trains union there are three primary credit bureaus of their original. Oh we used the Trans Union. That's becoming used less and less than employment a lot of states are passing restrictions on that because always the saying that if it did it passed you have to show relevance to the job and loves to do it. Interestingly though they'll say well what is your credit score have to do with how good of a drug you gonna do. Arm. In that he indicates that they really don't know how it works because the credit score is actually not included on employment project. This is a really is a difference between say not just saying okay person X is a 765. It's okay are they delinquent on certain accounts and so right in so mostly come in in that it's gonna ashamed because a lot of my clients. Wanna look at them because there's other. Information besides your credit history credit report. One of them is previous employment. If you play for credit one other questions on the credit would application is where you work up so that gets into the database or if you apply for jobs and they asked you where you've worked in you. Omit one because you didn't have a good experience there. The credit check Gambia place will be fun about drug testing is that something you do as well. Reader you know the Mets becoming a dusting of all of the of the new marijuana laws. Yes how I guess two questions on first are you seeing more businesses that are requiring drug tests. The second. Are seeing more positive tests. To come if it might be a slight uptick in that generally weeks the only about 4% the test positive although battle that will vary from. By industry. Well but overall we only see about a 4% positive rate. In the number one drug that we see positive for is now. And in terms of how employers are dealing with that I guess that's one of the questions that we have is is you talk about the pending legalization of marijuana in Massachusetts in the legalization a number of other states. Our employers. Being more stringent on that in the law permits how are they dealing with well it it's kind of all over the board and it's it's really influx right now. We've had a couple of clients that have said can you drop marijuana from the from the test and we can do that and to test for some of the drugs. In some and in other cases it's business as usual people testing we have a drug free workplace policy. In their forcing you mentioned that you can really customize these background checks depending on the exact needs of a cost. What's the typical cost to someone to run a background. Well you have to be careful low with that so you know if you go online and you and you look at one of those online. Services will you put in some basic information and to pay with a credit card. If you read the fine print on those they'll usually say not valid for employment purposes in the reload legal for that you know Eagles run around 20/20 five dollars. Get a depends on what we put into the package put it can run the gamut from. 650 dollars of two was to 300 notes easily what's typical turnaround time for a background check is something that you have done later that day just take a week. Again that depends on of what you put into it we say it's one to three business days. And the the things that take a little bit longer is using the drug test. Person has to go to a clinic in the you're giving you a urine sample under controlled conditions. That those in applicants shipped overnight to a certified lab. And then we get the results electronically. So I can take a little but the time on and then verifying previous employment because that's written for the most money that has done the old fashioned way we're picking up the phone. In calling people on the waiting for. Davey can you share a story with a swear you were able to find something that really saved the employer from making a big mistake. Well yeah one that buck comes to mind was an excellent it was an executive position and we generally don't think of those type of positions where you're gonna find these issues but. This is an executive position the person was going to be uprooting his family. Moving to a new state to take on this job. Bomb in initially be gone. Indications that there was some he was register as a sex offender. And because that's a little unusual. I think I called them and talk to him and he said. Well yeah I'm kind of embarrassed to talk about this but. It was Saddam. It it was a long time ago I was in college aideed was outside and I use the great outdoors as a bathroom and I got caught somebody saw me and I was charged with indecent exposure. So that's great the employer might of even though he was registered sex offender they of the event explanations pretty good. But didn't really resonate with me because usually if they're even if the judge required Judea to register. Under those conditions wouldn't be elect demonstration that's kind of a minor offense and we dug a little bit deeper. And we found out that he was the charged awhile ago in a different state. With foam indecent assault on the child under fourteen holes so that was the judge to huge vote them out there. David how does someone learn about you where if there interested in your services where'd they go. Safer places in the dot com. Another note he gets tiring trying to bring anyone on as employees at this point are right now hold fairly steady but a guy who looked at them occasionally they'll cut. Well good well let us know well we're always happy to you know provide job opportunities for our our listeners as well. And David we appreciate you joining us today to post great to be here thank you absolutely. As David Sawyer he's the founder safer places incorporated. Doing background checks we'd love to talk to you about your business do you own a business that you've been in business for awhile and are you willing to come on air and share your story we've got to hear from you. Up next we'll be talking about FaceBook. And we'll have a trivia question for you from our financial exchange where the event. You've got Barry Armstrong. Financial exchange shall look I mean Cilic ginger radio network. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency not guaranteed by the bank and may go down in value leader bank. A step ahead this is very Armstrong from the financial exchange did you know that once you turn seven Indian half you are record. Required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their diary or they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% IRS penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&B rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our website financial exchange showed dot com. Juries are for two securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are. Unaffiliated hi this is Derek strong with -- an important message for you and your family if you had a successful career and haven't yet taken the time to plan for your future now's the time to make that call Cushing and Dolan and senior partner Todd let's keep have been helping families like -- with their state plans for more than thirty years and he's got a brand new guide out this month called back to the basics it'll help you learn about the bare necessities needed to created a state plan but will also educate you on important items like how to avoid probate and passing your assets along to your family called Cushing handle right now what 8668485699. And ask for your free guide today that's 8668485699. You can also download the guide right now by visiting them online at legal exchange showed dot com proper estate planning is critically important to a safe and relaxing retirement so don't delay get this free guide today protect your assets and enjoy your elder years 8668485699. Or download it right now at legal exchange showed dot com. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of rent today with zero liter banks all mine rent collection tool he -- automatically deducts tenant's rent and deposited into your account visit WWW -- he -- dot net to learn more -- you -- your payments for each unit received regularly on the same day every moment tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot meant to learn more or call 7816 or 18691. Very Armstrong here and I'm joined by the vice president Jeep tool from leader bank. We're talking about easy rent this is exciting because zero rent is a method for landlords to collect their rent electronically but there's now. Find refining. Right so easy rent is a product we innovated leader paint. Comedy can be found it www. Z rent dot net and it's essentially. And online payment technology that allows landlords to collect the rent electronically from Tenet's. So there several advantages first you can say goodbye to being reliant on the use Postal Service. Good night to delays in the mail and no more need for paper check right. Where it's really a laudable ideals don't even have a checkbook re getting that all the time Alain roll call in and sign up because his tendon saying you didn't check the where this really starts to get funnies we knew if your landlord in you have. Multiple tenants living in units this grad students the university. Well right now they're all writing multiple checks and sending them in and for a landlord that source become confusing pain in the neck so would you Reynolds who's who actually deputy each tenant can individually batch it intent one payment for that unit to landlord. And then of course there are some reports in notification to all that great stuff. But going back to your question a Condo association's a lot of Condo associations have been using human as well. Because the Condo payments that kind of the shirt to every month at the same so they've been signing up and there's a version of the rent 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 a 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 does he rent dot net or call them toll free 8776917900. They say video adds ten pounds. But don't tell Berrian jogging in the financial exchanges alive every day on FaceBook and YouTube there's there's the financial exchange radio network. North Korea is in the news again will be asking trivia questions about Raytheon they are the prime contractor for the terminal high altitude area defense. Radar system. Who is Raytheon its current CEO. Our text number is 68681. Listeners correct answer wins a 25 dollar gas card who is Raytheon its current CEO. Chuck FaceBook sounds like is being accused for inflating its ad reach. Yeah I've I've been somewhat skeptical of Facebook's advertising data. Probably for about five or six years now and it comes from my own experience using the platform where. At least in the early days of the platform back in time 2011 through two point thirteen I saw an awful lot of activity from dummy accounts that nothing to do with real people I would see count from Brazil that clicking on my ads that. The ads were supposed be in a post in Brazil they had no. Need to be resuming upward of interest anyone in Brazil. And what FaceBook is accused of here. Is inflating the potential audience. That they can display these ads do so as an example. US census data shows that last year they were about 31 million people between the age of eighteen and 24. FaceBook is saying that you can reach up to 41000018. To 24 year old inside the US. Those numbers don't quite match up OK so would mean at a 150%. Of all of that age group is on FaceBook. Exactly which exhibit which is just not possible and I have long had concerns that FaceBook doesn't do a good enough job getting rid of either fake account to bond accounts or anything like that. And you know obviously companies have success on FaceBook there's no doubt about that. But. I do wonder whether or not the numbers are somewhat inflated and it fortunately there's a whole. It's easy ways to hell and because you have that ties to the back end they're flocking to. They are just because they're targeting. It must be effective I would think if if they're getting that much money or because every time we do quarterly report on FaceBook. It's their sales are growing exponentially. The big thing with FaceBook in the way they've grown there ad sales it is bin because they've displayed. More ads more frequent. Obviously have to have someone buying the ads basic clearly people are. I guess. You know again maybe that maybe these companies know better than I do in terms of they'll be there are alive on the other ad campaigns over the spending hundreds of thousands if not millions of dollars. On so they can tell what you know what kind of pay off they're getting. But it's I've always been a little bit skeptical of Facebook's. Internal numbers just because. I saw from me in my own research you only do they are hoping that it's because it didn't make sense to me. Got it hey you've heard me talk about zero into the past it is leader banks on line rent collection product. For landlord is a great service for landlords allowing them to collect tenant's rent payments. Electronically. At Z red dot net without the need to collect checks. Most landlords that I know use a local neighborhood bank to do their business and now leader bank is making these unique program available to those banks. So they can offer to you the customer. If you're landlord and are interested in having your bank acquired busy ray technology. Tell them to call easy rent at 8776917900. That's 8776917. B 900 or visit Z rent dot net. Stop chasing down late payments and running to the bank to make your deposits. Get your bank to add zero rent to its list of offerings. Visit WWW. Easy rent dot net or call them at 8776917900. For more information that's 877. 6917900. Or work. Online ads he rent dot net. Price of urged Jews is going crazy and hurricane Irma has not even hit forty yes spiking up. From. A previous close of a 138. Dollars for the ICE frozen concentrate orange juice futures don't have to 146. Of about a 6% spike that we saw. You know orange juice futures. In the reason obviously. Florida one of the major producers of Orange jeans and concern that you could either have a disruption in the supply due to transportation issues. Or think about the wind or you have Ortiz knocked off trees and destroyed ray you have that crop if you look at some I don't know he you're looking at some of the footage earlier. What was that Barbuda the era I was looking at one and Barbuda as as Irma came through there and you see the initial scene where there was some things kind of blowing off in the distance. And all of a sudden this wall of wind hits and you just see. Every tree they ripped out of it's out of the ground and span of about twenty seconds so imagine what that would do yeah I mean yeah you got entire field just destroyed. Airlines are canceling flights as Irma advances earlier this morning we reported that 700. Flights had been canceled as a result of Vermont and Irma hasn't even gotten to Puerto Rico. Irma still hovering. Somewhere between saint Maarten and the Virgin Islands. Yeah and airlines doing anything from every scheduling people to straight up canceling flights all a lot of airlines southwest included is giving people a chance to push their flights back by as much a week. And just to try to. Maintain some semblance of plans. But I think I think you can see a whole lot more in turbulent cancellations that happened over the next couple days is. Well of those cancellations at the airlines never get gets back he'll be about the cruises right once that cruises left on half empty. It's gone now is he can't we build a boat he used that date is burned so would industries are going to be hurt firemen. Tourism restaurants airlines obviously insurance well. We'll see where it hits does any industry actually benefit from hurricane sure sure they about a company like Home Depot paid about. Guys hitters skilled trades. They you know they they can go down if you're electrician how much money can you make in Houston to death mega severe trade's been nip. Writer carpenter how much money can you make an eight it seems like you'd be revealed predict perhaps yup yup but that's nip and a good idea. US colleges are slipping in global rankings while fifth year decline. For US colleges. Yet this is interesting to see and in particular. Is the first year. That schools outside the US took the top two positions in the fourteen year history of this list Oxford and Cambridge. Taking the first and second spots on this list the US did take seven of the top eleven spots led by cal tech in Stanford Pia no can I and so what you saw this year 62 US schools inside the top 200. Three years ago there were 77 schools in the US in the top 200 so is it because we're slipping. Or is it because others countries are developing a better infrastructure for education like China it's probably. Rising competition we're donating else China in particular. Went from seeing two schools in the top 200 back in 2014 up to seven schools in the top 200 now okay. But obviously. That the dominant player on this list is still the United States making up almost third. It does indicate that we have some work to do and trying to maintain our edge in trying to maintain the advantages that we have. But the fact is. That you are going to see it's it's a lot tougher to maintain that top spot than to get there initially Eads. It's easy to say okay put you put a ton of money in the U yet if there once and stuff to maintain you know anyone who wins anything we'll tell you. He said the top two were Oxford and Cambridge yes. They're gravel lot of their money dry up as a result of bricks because a lot of the money for research for those two schools truck came from the European Union. European Union is not going to be giving money to Oxford and Cambridge going for. For research right why wouldn't they give money to a German university your French you can still some of the best researchers in the world there. You wonder they get that that's a negative impact that works. It it'll absolutely have an impact I don't think it's gonna dry -- go to zero necessarily. But it certainly will have been in impact the top ten by the way just to go down through that list Oxford Cambridge cal tech Stanford. MIT Harvard Princeton. Imperial college in London University of Chicago and ETH Zurich. Round at the top ten interest. Interest. Eight coming up will be joined by Jill Gonzales from wallet hub. You know the fourth quarter was shaping up to be very good time to buy a car. May not be as good time now with all the cars how many cars do we figure it lost in her in her identity estimates were between three and 500000. And we haven't Letterman has yet their nominee vehicles are going to be destroyed as a result of her good of a whole bunch from that as well mentioned that it's Miami. Just think that the population of vehicles in South Florida. It date back could be devastating anyway will be joined by Joseph Gonzales. What companies are giving the biggest discounts on new cars during the fourth quarter of 2017. That's our next topic. From the financial exchange radio network. The financial exchange with Barry and chuck is alive on FaceBook and YouTube every morning beginning at ten and this is the financial exchange radio network. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. 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Hi this is very strong with an important message for you and your family if you had a successful career and haven't yet taken the time -- plan for your future now's the time to make that call -- and -- and senior partner -- -- -- have been helping families like -- with their state plans for more than thirty years and he's got a brand new -- out this -- called back to the basics it'll help you learn about the bare necessities needed -- created -- state plan but will also educate -- on important items like how to avoid probate and passing your assets along to your family called -- handle -- right now at 8668485699. And ask for your free guide today that's 8668485699. You can also download the -- right now by visiting them online -- legal exchange showed dot com proper estate planning is critically important to a safe and relaxing retirement so don't -- get this free -- today protect your assets and enjoy your -- years 8668485699. Or download it right now at legal exchange showed dot com this is very Armstrong from the financial exchange did you know that once you turn seventy -- -- you -- record. Required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their hiring a war they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50%. IRS penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&D rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our website financial exchange showed dot com. Security suffered through securities America into members finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated. Vote on our daily poll question had financial exchange showed dot com while you're there fire of the media player and watch the show while you work. This is the financial exchange radio network. Raytheon chairman and CEO is doctor Thomas Kennedy he has been with the company since 1983. The winner on this question was Michael from long metal Michael's taking over 25 dollar gas card to sell. And trivia today is brought to you by the US Virgin Islands economic development authority. The US Virgin Islands one of the most competitive business locations in the Caribbean. For companies looking to start a business re locate or expand to take advantage of the incredible tax incentives that are fully sanctioned by the US government. For more information visit US invaded dot org that's USB. IE DA dot war. All right we're joined now by Gio Gonzales from wallet hub to talk about automobile purchases. Is this a good time to buy a car and new car hi Jill welcome to the show. So is it a good time for me to go up by new car I don't need one that. Exactly gas and I actually think I'm right now means. 2015 and 26 team were record auto fill years he expected the same thing for 2017 back in January. He's been pretty much the opposite happened it's now the slowest time for cars and a lot since 2009. What about you know you wrote this story before Harvey hit in before Irma was threatening to hit South Florida. I mean we're hearing reports that half a million cars were wiped out in in Texas need to have more that are destroyed in Florida. Is that gonna have an impact on your story. Get that lead going to have an impact in our beat the Houston area. Let's see what Herman hat what happened airmen that probably in the Florida area as well. Will it be announced que do total sales for any air at the U. Can't get on board but those record breaking numbers I don't think so. But I know that car dealers there are actively advertising and are generally happy that they're going to see more people buying these cars. You can mayor in fact any test and that you. Yeah I can't even read to card be there all the rental fleets or exhausted what what manufacturers. Are providing more. Incentives would like wary am I any of the best deal on Chrysler might any of the best deal and Volkswagen. Where are the best deals who who's got the biggest surplus inventory. Right now we're into Lyoto folks that game Hun 8 PM on this board Cadillac. Those are offering the lowest financing rates among the major car manufacturers. And we just survey if you're looking specifically at least that's. I generally tend to avoid here but still you'll find get at least in our first round jaguar Ford Infiniti Acura. More of the premium brands released in a lot. I was reading your article about leasing inferred. Rates inferred interest rates when leasing a vehicle. Talk to us about that does make a lot of people lease a car and they just go well costly for 99 a month. They don't understand. With the mileage restrictions might be with the buyback is going to be with you know how how the program works. Fully so when you were identified and inferred interest rate I found that very interest. Yellow a lot of time this is something that you can actually asked your manufacture. And hurt interests as it. I get lesser known African immigrant but it's not necessarily be cracked. So typically you're able to eat those rates directly from your manufacturer. And that can be used as another bargaining chip I think people don't realize that. Some of the easily. The highest rate now is at around eight and you can really try to have a background. How like how do they disclose that to you when your leasing a car I I've not least a car in thirty years. Sell a lot of times. You'll see all of these currently offers you've seen very fine print just in the commercial. And I make a deposit your commercials actually read it yet. Sometimes they get close at bear in the extremely fine print a lot of time get your act the actual dealers that. Have to ask that. Regardless Jill thank you very much for your time we appreciate it. Joseph Gonzales from walnut Tucker you just leased a car yet. The sticking point if people don't know. Unknown leases that. I got a cart would you via Turkey as well would you buy a car you know all right you say allow the traits three point 99% and it's a five year term with the least I'd I'd. But think part of it is people don't necessarily understand what they're doing when they're leasing cars to get a lot of cases people don't realize that what you're paying for. Is the difference in the price between the new car and what they think they can sell for on the back end that's that's what you're effectively paying and that's why it's based on the mileage and that's why did you arrive like they'll say well he can only drive 121000 miles a year or something exactly because they wanna be able to say look a if we have let's just use say a -- Bolton as an example. If you buy that new you can paid 30000 dollars. If we can sell it five years down the road with 40000 miles on it we know that we can get 20000 dollars for that car so we're gonna charge you based on that 101000 dollar gap and that's how they come up with the release pains. That's that's how they do it and so there a couple of prominent pastors they've been very good and estimating with them resell is what I had to say they've gotten whacked on the resale especially for sedan and and the problem is so what they're doing now on new vehicles is they are. In order try to you know make their sales quotas you're seeing huge discounts on new vehicles now. We'll think about what that does to the used market eventually that I trickles down should because if you bought that car instead paying 30000 dollars for car he paid 27 makes sense well. You have to be able to get this much fort down the road and so eventually that trickles down. And so it gets into that used car cycle as well couple years from now but it absolutely has an impact there too another Boston's. Ports team has been accused of cheating it's not the patriots the Red Sox are being accused of UT using an apple watch good to steal. Signs if we can you guys explain this to me this eyesight and Anderson. I still science out. But how do you is a watch disputes aside I still understand how they use the watches to actually steal the signs I don't know if there's like camera on the watch for some public. I had it inner faced with Blake someone who was watching somewhere and was sending messages so why axed because I think you're not allowed to have electronic devices into the in the dugout facility receiving something on the Watson I guess no one realized except that everyone did. But he said the third base coach was using. And communicating. Our resident don't know it's quite specified exactly what happens. I've put generally all things like this in the boxes of every team does some variation of written and someone just got upset for some reason and decide to throw hissy fit that the Yankees and Red Sox yeah. If at least on the plus side it's gonna make the other robbery little exciting again yes yes you know. Do you see the new Nissan leaf I did 150 miles Republican car doesn't look awful it's not as is better than the bolts. But not as good as tussle and we want 200 as I wanted to under while there have 300 next. But it hit next year's model have a 300 mile range. But I would give it like if I were buying carts only thirty green and it's it's it's cheap for an electrical it's it's 30000 dollars. No maintenance virtually no maintenance on the data in oil change or anything like that you know you need new tires over 60000 miles but you know wonderful locate and 150 mile range. It's tight the brain is still tight. That would be tight range the Rangers tied I think again that 200 mile mark is where I think you can start to talk about this. For daily use for people with long commutes is how many people do you know. That commute from Nashua down to lost a lot on there's a lot needing to be a problem for those folks this isn't an appeal to charge when they get in the city. Market is open and it's making up some of the losses it incurred yesterday the Dow was up 47 points and crude oil is up forty what's that's a girl 4907. It's very in Cha from our financial exchange rate him.