Sep 8, 2017|
Full Show 9 - 8 - 17 by The Financial Exchange
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
This is the financial exchange with the very Armstrong and 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. There's going to be a high tide. On Miami Beach this Saturday night at 11:19. PM. And then even higher tide on Sunday morning at 1153. India. Those two tides folks could decide the fate of more than five million people who live in the greater Miami. Area hi everybody it's Berrian chat with you here. I feel like I said this yesterday. I feel like we are watching a train wreck in slow motion. Yet this appears to while being gearing up really for a pretty much worst case scenario for Florida this is what seems to be coming here at the anticipated strike of Irma making landfall as can be some time on Sunday morning it appears. And it's expected to still be a category four hurricane at that point. And rather than veering out to see your maybe just brushing the coast is people had hoped for initially. It appears this thing is gonna strike pretty much dead on right now. Had to go up the middle listen pretty much come right up the middle of the state of Florida so even in England cities such Orlando and so forth are going to be impacted by this. Not necessarily the same type of flooding just as they're not gonna have the coastal shall storm surge that you typically see. But it still is gonna have a significant impact even cities on the West Coast are gonna get winds up to 8090 miles an hour today talking that Tampa saint Pete Fort Myers area that's not. Bad it's the over 100 mile an hour wind it's gonna do the damage. Andy if you look it the departed the hurricane named as the tremendous amount of damages the north east. Part that's where the most powerful winds are met him right through Miami. Well the end based on the model and we're seeing downs now the the one positive note is the hurricane is slowing down a little bit it's gone from five to four. It is it so earlier than anticipated yet you you're seeing it lose a little bit of little bit of wind speed as it continues to move further north and further west right now. And so it is still expected to be a category four for the next several days at least and is expected to carry that reading pretty much through the middle of the state of Florida. Before declining into a category three and two hurricane as it continues to move up towards Georgia while the debate questions. You know me the time to tune in is going to be noon on Sunday. Yep it's I mean it's is that high high tide yes it that's where you know the higher wide impact the times and that's a higher tied. Then the Saturday night tied. And one of things to remember is that you know one of the things that affects the tides is where the mood is and obviously based on. What we're seeing here looks like you're gonna have a relatively high tide as as far as high tides go as well and so it certainly seems like this. Has the potential B. Pretty pretty bad for the entire state of Florida but in particular that Miami area it it appears to be right in kind of the center of where this is going to hit. You know texting wheat we watched these hurricanes and you think about the insurance companies. And everybody assumes did you see these houses that are leveled most of these houses in most of the properties that you see. Level whether you're looking at the properties in saint Thomas Saint John. Barbuda. Saint Maarten most of those properties don't have insurance and when it hits Florida. You'd be shocked at how many people are uninsured. Just as we are shocked and Texas only 20% had wind and flood insurance to Texas. The EVE just can't afford to buy it the way that insurance works typically. My wife and I have a home in sync for and if we we bought the insurance the first year chuck and it was about. And he was 151000. Dollars. And had a 50000 dollar deductible or 65 before you even get anything back and so we kick quickly came to the conclusion as most people do. Now you self insure that risk yeah the problem is you know who's gonna. Keep us spare 200000 dollars so we don't burn it for claim and that's effectively what you may and are needing for a firm that typically. By doing the president's home in saint Maarten was wiped out he he really add on for sale is president trumps home in saint Maarten. Gone. I mean you see some of the pictures that you see from. Some of these islands saint Maarten in particular are booted just completely destroyed in Teague I mean some of these islands. Like it it's not something where they're gonna recover a year to you have the entire island just being decimated and it takes so long for new construction to happen down there it's not as quick as what you see in the US saint Thomas four people dead. And they have ferries that run from saint Thomas to the BVI and to Saint John a ferry sunk. All the world. Really yeah. This is silly I mean that's some people can even get back and forth between those islands but what they have so they'll have some ferries and a friend of mine has donated his ferry it to and others say capacity up you know it can't take cars up to that. But it might point was on the and on the insurance companies. They pay out more as shocked by this. Insurance companies are paying more money out on automobile claims than they are on homeowner claims by a large margin. Yet a big reason for that is because when you have comprehensive coverage and on a car. Covers flooding. OK and so anyone who has comprehensive coverage on these cars. They're going to they're going to be filing claims pretty much saying look you know I I need. Not necessarily a a brand new car did you not gonna get full value necessarily what you're gonna get a significant chunk of change I mean if you bought a vehicle for. If 30000 and it's got 50000 miles on it just might get 1012151000. When it's all said and done and that's claim has to be paid out based on. The way that the coverage is set up. 15%. Of Texas drivers have no insurance gone. I don't seem high it very does that seem high very very high in 75%. Of Texas driver's. Have comprehensive insurance that you're just reference that. Pizza the insurance companies the Allstate the state farm's of the world they're gonna pay more money note on automobile claims he automobile liberal still don't know what it is we think it's somewhere between 30500000. Cars. As a result of party. I would wonder about Florida. I mean I know a lot of people the eve evacuated with 650000. People out of Florida. In that ballpark they're continuing they're hoping to get over a million people out but by the time that the storm hits what's interesting I'm just looking at some data on the other rates of uninsured drivers in general. Florida has one of the highest rates of uninsured drivers in the country 24%. Of Florida driver's. Do not have auto insurance those cars what happens is they're gonna get trashed. And it's the city or town is gonna have to come and remove that vehicle the lowest portion of uninsured drivers Massachusetts now just 4% we have mandatory insurance to. I don't know how and a state like Florida where you do have hurricanes that come through how you don't have mandatory insurance. Well you need a problem for these people can't afford the the insurance. You look at the were you talking about homeowners insurance donor and I don't know I'm talking I'm are talking auto insurance lake again this is something where you're like you have these things happen in Florida on. A fairly regular basis like you have been an eye on something this scale necessarily. But you have one or two these two the year generally a lot of slower ones you have a lot of flooding has always flooding and so I sit there and I look at it and I say. How do you know I've done something about this right. In the race for Amazon does Boston stand a chance a lot of cities now. Lot of city virtually every city on the East Coast is is in the in the running. Four the Amazon headquarters yet just about everyone is on making a pitch and it turns out that cities are gonna have about a month to make their pitch to Amazon who's been gonna decide on where to put the second headquarters next year. And Boston in in making their pitch they're probably gonna sell a couple things the first being the education and the workforce that's highest educated city in the country possibly the world. It also though counterpoint to one of the more expensive cities for Amazon to move to and that's what potentially puts them behind the eight ball a little bit. But you look at where everybody is just now they might be better off in Detroit torque is Detroit did and you don't know the city's that's on the list distraught. I don't think they're gonna go outside the U us OK I don't think they go outside the US. But what's interesting about this is Amazon's based in Seattle. Seattle's not a cheap city for the workforce either you know the cost of living in Seattle is not low. And so. I would imagine that at some level Amazon is comfortable paying for talent as long as they feel they're getting the return on. On May have to go where Mikey I know you don't Providence, Rhode Island is trying to be in the mix in Pittsburgh Pennsylvania is in the next Pittsburg centrist thing but I wonder if the kids will go. You know that you think about a kid that's graduating from. Your home mater would they be willing to go to Pittsburgh I guess so if the money's right. But day at most of these kids it that I see graduating from the top schools in New England they wanna go to either New York. They wanna go to Boston now thing to see what California but new York and Boston. Are clearly one and two. Remember though if you go back 1520 years. Boston wasn't that kind of destination no it wasn't you know we. It was not that seemed kind of death regulation for young talent in auto and is I'd say within the last ten or fifteen years it's made huge strides there and I look at Pittsburgh. And you've got two great universities they're Carnegie Mellon University of Pittsburgh Carnegie Mellon a particular specialize in robotics and high tech work so. That's something that potentially is a good fit down there. But remains to be seen I still think you know we went through yesterday and and kind of gave our picks but you Boston has to be on that short list just because of the quality of education. Will Boston win the Amazon sweepstakes. Our text number is 68680 better website address where you can participate in the poll. Is financial exchange showed dot com we'd like to know what do you think Boston will win the Amazon sweepstakes I put this on my FaceBook page. That a lot of response on FaceBook but I'd love to here we have to say. Financial exchange showed dot com is how you weigh in and you make your vote once and inside information on this woody up Jeff Bezos was in Boston yesterday was he really. Interesting on the day they made the announcement this day to say in coincidence or something bigger I've just I've just put that out there that Jeff Bezos was in Boston those of you. Who work in the technology field he may be aware of that he was in Boston yesterday. Our coming up we will be joined by Larry Kudlow. Big question is who is going to be the next chair of the Federal Reserve. Fair question Fisher Stanley Fischer stepped down yesterday as the vice chair. Janet Yellen is still to share her term ends in February she could be renominated president could renominate. Janet Yellen. As. The next fed president but. We have a list of six potential candidates and nobody would know more about who the next fed chair is going to be. And mr. Larry Kudlow from CNBC he joins us next from the financial exchange radio net. Work. Even without health care or tax reform all three major indices remain near record highs get the latest info on the sectors that are winning and those that are right here we Berrian jumped on 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%. Annual percentage yield 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 and don't delay logon 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%. 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You can also download the guide right now by visiting them -- -- -- legal exchange showed dot com proper estate planning is critically important to a safe and relaxing retirement so don't -- get this free guide today protect your assets and enjoy your -- years 8668485699. Or download it right now at legal exchange showed dot com -- -- 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 oh 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 homebuyers who are making 51015. Offers two for fighting house now and offers except it's extremely. Okay. And so they have to temper their expectations. Oftentimes they're they're paying more than the other half to. Paying more than the asking price and a yeah it is quite common right now in and in some cases they're actually having to to research other towns and rooted in. Considered first because. You know it's very pat can't afford their dream home exactly. I'm getting we're telling first time homebuyers to really be aware. Of all the mortgage products that are out there that are relevant to Tulsa but this leaders thirty yes so we're really excited about this product we just launched it is called leaders thirty. And essentially what it is is that fixed rate loan from. Where if you sign up to pay your mortgage automatically electronically and everybody does for the first year. You get to lower your interest repayment by one person that's very helpful offer because what it does is gives you a break during that first twelve month period exactly so gives you little payment relief for your moving expenses but you still have the security of a fixed rate mortgage. When I bot. A hole. And when I've refinance my properties have always used leader bank there are terrific bank you can call them told free at 8776917. B 900. Or visit them online at leader bank dot com to learn about their mortgage programs. 8776917900. Liter bank dot com. I like talking to a person face to face him a call 87769179. Country. Security suffered two securities America and members finreg SIPC and 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's senior contributor Larry Kudlow every Friday at 1045. Only here on the financial exchange radio network. This segment of the financial gains brought to defy easy read your landlord take advantage of zero to fully automatic. Online rent collection tool that is free for landlords with a new found. At any participating bank and always free for Tenet's sign up and have ranked checks deposited directly into your account. Call 8776917900. Or visit the red dot net for more information that we do not have. Larry current okay. You know in going back to Amazon. And whether or not they come to Boston yes. I know they've paid their rumors that there are you know other cities are. Putting in bids like Providence Rhode islanders putting in a bid. Bridgeport Connecticut putting in and an updated. Where would they put it they need a hundred acres of land is so if they came to Boston I'm trying to think we're there just physically. Where they could find 100 of 100 acres of land in the city of Boston or you know if you included Cambridge and in some of those outlying. Parts of the city. So I think looking at. Boston as a whole you you're not gonna find anything in awarded the most desirable areas right now obviously not gonna find anything back bay you know you can find in the financial district not gonna find it down the seaport there's just not enough space. I think. The places that you can't potentially look for. The is if you look up towards the Somerville area there's a huge. Huge area in what's called inner belt loops of Somerville. That has no development and right now aside from some old industrial office buildings to warehouses and things like how much land is that I don't know exactly how much land it is but he is a big amount of space okay this is an area that. Robert Kraft was originally considering at one point. To put a stadium for the New England Revolution that was gonna see about 25000 people so if you can fit that there with the parking and so forth that you need. There there's a good amount of space there. Is it going to be enough for them and open necessarily fill all their needs but it's a big chuck is faced its near public transportation it's near the highway. Would OC and make sense Suffolk downs the other one that makes sense you go over to you know he's Boston kind of on the border that Chelsea area then you potentially have some options there. You potentially if you wanted to go even up towards Revere. You have some options for space if you go a little bit further there but that does get a little bit more restrictive in terms of public transportation just as there's only one subway line. It's going up that way and it doesn't necessarily have the most consistent surface and so. There there are some parts of the city that are available with. Boston's a small city geographically. And this is one other. Piece that could end up working against it. You know we talk about the size of CDs quite often and and yeah we talked about how big Houston is where it's I think it was like 600 square miles or something like that. In Boston's 89. There isn't a ton of space and Boston is one of the big things that could potentially work against them as they try to figure out what they're gonna do here. Well we'll see I mean the you know really what our poll question is will Boston win the Amazon's sweepstakes approximately 40% of you think they will. I look at the dirty making book on this DiGenova. Are they really what's so what's what are the leaders in the clubhouse on at Boston's not in the lead bed Boston is that 9%. Oca. Which isn't bad a bad and make the you know the number one he of the leader in the clubhouse was Raleigh your pick. I pick Charlotte not rollins' old and I know probably would be big enough Raleigh Durham was a really was. In the league I picked Charlie you know it's it's an Indian formal I Sodom marketwatch.com. Death and a that it eventually be of them gamble this would that speaker that way now. Another company relocating. To the city of Boston that would be PTC. Is going to be relocating 1000 workers to Boston from Needham which is suburb of the city. Yet they've signed a 250000. Square foot lease to move down into a tower at 121 seaport boulevard so rate down. Ian us out he released a whole bunch parking lots there moving right down into that air and and as a deduction right brand new construction the other building is even opening. And so they're going to be moving their early 29 teens about eighteen months from now. And so again seeing a another company in this case moving from suburban campus down into. You really urban center of the city and I think that goes. To there'd. You know bid to try to get. Some additional young talent in there I think that's what they're looking for his young talents. Does not want to commute out to the suburbs. Well maybe I can only here's the thing well it let's say you are among those 1000 workers and you've just bought a house in Westwood up. It you know how are you gonna feel about saying oh honey I'm gonna be commuting now because its allows he can be might get another job it's it's a terrible commute that you're going into the city. Especially this report having these no good cup is is there a good way to commute into that. I mean that the easiest way it's you can do it from the suburbs where you can't take commuter rail and and then take the Silver Line down to the Silver Line is not the most reliable it's not in a true mass transit system and it's two systems if it's too. Like voters it is it is but their point of place where you have to do that how many people commuting to New York City. Where they take the metro north and in the NAFTA hop on one of the subways get all the way down to the financial district don't like. They don't laugh but I just had so much time you know it's it it definitely this kind of move will. Create some turnover for their business. They're just banking on the fact that paid turn over that it creates is gonna bring us in some of that new young talent that they want to is. The only reason that you moving towards the city disk as you want the younger tell. Yes no I agree they and and I think it probably is a little bit easier to attract. A kid that's graduating from northeastern. Right yeah you're you're trying to authority kid in northeastern grad or BU grad. Yeah they're more likely. To wanna be in the city. But what can afford it. It would specialists imports notes will what are rents received were one bed and guess who you're talking somewhere in the ballpark of twenty to 3200 and most kids now hour when they graduate college to do too bad you're probably talking like 36. That's a lot of money among its though those are actually. If that's what the rents are in the city that's comparable with New York its content New York is right about 2000 dollars a bedroom. It's it's getting close it's still probably about ten maybe 15% cheaper. But it's it's getting close to this point I mean it is it is not cheap to live in and around Boston today. According to the Boston business journal the wind Boston Harbor gaming resort. Is a year into its 34 month construction timeframe we will be asking trivia questions about Steve Wynn and his latest project. In what city was Steve Wynn born I'll give you a hint it was it is in new England and we have an affiliate in that city. In what city with Steve Wein born our text number to participate in trivia is 68680. First listener with the correct answer we'll win a 25 dollar gas card we're looking for the city. In which Steve Wynn was born coming up will be talking about the Mexican earthquake. That and more from the financial exchange radio network. Making your Smartphone even smaller here Intel logo mobile lab by surging financial exchange shelf in iTunes or those who. Who plays stores this is the financial exchange radio network. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of Wednesday 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 -- -- rent your payments for each unit to receive regularly on the same day every month tenants pay nothing in the first six months or free for all landlords visit WWW -- see rent dot -- to learn more or call 7816418691. This is very Armstrong from the financial exchange did you know that once you turn seven Indian half. Have 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 hiring a poor 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 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. If you own rental property you're going to want to hear about this exclusive program offered by leader bank its call -- rants and is designed specifically to help landlords receiving and deposit their rent checks electronically as opposed to having to wait for the male co leader bank right now if you're interested in see -- the number is 8776917900. That's 8776917900. This program will automatically deposit your rent checks into your account and we'll help you avoid the hassle of waiting to get a check many landlords are suggesting that tent and sign up for zero into upon the execution of their release and why wouldn't you wanna do that once it's set up you never have to make another change during the lease period he ran does a free service if you have an account with leader bank and if not they'll simply cost -- a small monthly fee cult leader bank right now and 8776917900. That's 8776917900. Or go to Z rent dot com for more information. Member FDIC it's not too late to get a great grade and whole mortgage leader bank specializes in a wide variety of purchase and refinance loans that some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a pastor closing calling 8776917. B 900 that's 8776917900. Or visit leader banks dot com member FDIC's equal housing lender and MLS number 449250. Subject to credit approval leader bank. Time now for mostly watch a look at the market's performance so far today thanks to Darian jug right here on the financial exchange radio network. Michael Armstrong is with us getting up to speed on the biggest stories with Wall Street watching Mike thank you for joining us torture. Like let's start first with Equifax obviously massive data breach where we see in happening with the stock. Yeah this is pretty nerve racking toward a combination of things to chuck one at NASA data breach possibly impacting up to 143 million consumers information. In addition to that three key executives sold their two million dollars rest of their stocks. Just days after the cyber attack companies claiming they had no knowledge of the cyber attack but it does seem very suspicious the stock is down. Twenty dollars a share over 14% on the news. Let's go over to crow over this is a company we've talked about quite a bit over the last few months with Amazon moving into the grocery business with their purchase of whole foods IC crow were down about five and a half percent today how come. Well that's the thing with this crew were stuck and they are really going to have to strongly beat expectations in order to you know. Attract investors their company they actually beat across the board that profit came in line. They beat slightly on revenue and same store sales but they gave out some news that they're going to stop giving courtly guy that moved solely to annual guidance for analysts. As well as they have not provided a whole lot of information on the impact of Harvey Harvey and emit their stores. The stock is down on this by a dollar nearly a dollar and thirty cents or 5% of this news again company that had pretty solid earnings but. A lot of negativity around this specific company. Very good Mike thank you for the time. That is Mike Armstrong with Wall Street watch right Steve Wynn was born in New Haven, Connecticut in the year 1942. Dana from Orleans had the right answer their data's taking home 25 dollar gas card to mobile. As surprised and trivia today is brought to you by the US Virgin Islands economic development authority. The US Virgin Islands is 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 calling US abated dot org. That's USB. IE DA. Dot or. You know I posted done that Amazon's story on my FaceBook page. And when my followers Bernard says nope you can almost bet on Phoenix Arizona today's paper said they had a leaning there since they have three to four facilities in Phoenix are ready they have they've got a huge presence. In the Phoenix Arizona area I don't know why that one of the West Coast facility in good question. Another FaceBook friend said Paul says yes they're coming to Boston and he knows where and he's in the rules that it's the interest is so you know look at I I don't know. Oh AI. You know I I told you GE was coming to Boston got that one right but those -- a buddy in rural state who told me that they were. They were common. Our poll on our fate on our website financial exchange showed dot com. 37 point 5% of you think that they're coming to Boston and Jeff Bezos we do know was in Boston yesterday. All the other things we know that Amazon has been hiring people in Boston pretty rapidly over the last six months well I think that they're bringing on like a thousand people or 900 jobs rather with the and those are programming job it was error. Programming jobs in robotic jobs and artificial intelligence and that was announced about three weeks ago I think was back in in the middle of August is when we got that announcement and so. You know I think that there there are a lot of good cities out there it's it's going to be fascinating to see who they picked on or Bezos went to school. Committee is feast on any Boston connects schooled Jeff. Now let's take a look Jeff Bezos unfortunately is a Princeton grad now East Coast though the nerd now. Well the best professors in the ivy says is that. Princeton and the argument for garments now they're huge earthquake strikes southern Mexico killing I think that death poll in Mexico's would up to fifteen years. It's I think it's somewhere in the fifty range but I would imagine it's gonna be and hundreds before it's all said and on the did you and through or asked to shocks these reports tend to trickle in and unfortunately tend to grow pretty exponentially year. On the eight point one magnitude earthquake that tsunamis in mean obviously talk about is that an earthquake that big it's the it is just a massive quake there. When I was out in. It was at a San Francisco area a few years back when they had a it was a six point one that they had you that you were there and we were about said that the center of that earthquake was in Napa and we are in Sonoma that the time which is about ten miles away as we are both about ten miles from the epicenter of the and it was. But 2:30 in the morning local time there and you know I woke up and it felt like the rule was moving every direction it wants it was you know it's not like the room didn't shake it just felt like everything was kind of liquid in moving everywhere. And it just from that six point one Hewitt new buildings that were destroyed in a face to buildings that it fallen off and so force. And so I can't even imagine what you get from any point one just remember. The the richter scale does a bad way of conveying just how bad her earthquakes are in every time you go one point. It is ten times more energy released so. We haven't seen too much in the way of video yet on it but I'm sure we'll start to. Leak out to all of that area is on the West Coast yes that's on the depth. And it's it's a very southern tip of Mexico. It is I try to nor was it it's not a highly populated area I don't think but I don't know what ton about the geography down the so they felt it in Mexico City though like 600 miles away. Moments that is something. I user talked about they Equifax data breach of it basically about knuckle heads that I think you have to assume that your data was breached here. It because it is 73%. Of adults had their data breached any have to imagine that the the 27%. That didn't have their data breach will. Probably the ones that don't have any credit cards or something like that immediately think about it I mean this is one of the three biggest credit market credit monitoring agency script. And despite it's so ironic that an agency that is tasks and not an agency by a company that is tasked with specifically trying to determine whether or not someone's good credit risk does not have. The proper safeguards in place to make sure their database is protected. Like what you do. What do you make of the story about executives selling their stock after the data breach not a good luck I'd I'd walked down the hall I was the CEO of that company. Today knowing this I would lock down the hall and he has or fire. I I wouldn't disagree with you one bit and needs no way they consist no way they can say they didn't know. Like when when you biggest event to hit it all your eerie in the data business you can't tell right there that's their claim by the way these three executives are saying. Oh we didn't know that there's a data breach with the stock with the stock down thirteen or 14% here's the thing so you say that you didn't know there's data breach snag claiming incompetence. Either way you always hear the incompetent and you're not capable of doing your job or. You were you committing securities fraud and you shouldn't be anywhere near the job. Either way it's not a good look if you say you didn't know you had a data breach when you have one of the biggest and most valuable database is out there. You're doing something wrong. City you're guilty one way or another you you should not be in that position. Good point good point have we figured out how much money Sean Spicer is going to charge while he's on the speaking circuit I I haven't seen anything have you. Though a I heard speculation that whose 25000 dollars but I I don't know what I do know. It looks like he's looking he's trying to get more than 30000 obscene more than thirty it looks like he's searching for somewhere north of 30000. But I don't know if he's gotten any offers in that range he's gone on Jimmy Kimmel next week. And entertaining I mean he's an entertaining ideas you know I just don't know got insight they had been bad in the stories he could tell. Yeah he was there for six months still great stories use aired during the the preparation does it take over the White House. He's there for the first six months. I'd I'd I'd I would like to hear speak. I guess I'd I'd I'd like to hear or speak edged wouldn't I don't know if I'm a company or from an organization. Know Mike to show but 30000 dollars for Sean Spicer of the agencies that they shell out for the you'd be shocked at who's like take a look sometime. At that website that he's joined that organization the speaker's bureau. And look at what they charge person of these people who speak to take Ben Bernanke right. Like Devin Ben Bernanke ran the Federal Reserve during the most late dramatic. Economic crisis in the last fifty years I agree but who would be more entertaining. Pulling up some of these list right now and trying to catalyst some of the people Allan green today and make the list in night like in terms of just talking. Europe Europe when you're putting together when these companies dancer in Austin times there with conventions industry conventions in the hires the speakers are here are some other guys they get it in the range he's looking forward okay. Roger stop block got 25 to 30000 dollars and be pretty good that's that's seen I'd rather see him then he's good shots vice. Wayne Gretzky got about 50000 dollars in the Gator I'd much rather see Wayne grant beaten and shot by certain okay. Magic Johnson about 50000 dollars. There's so I just look at some of the guys in that range and I sit there and I say questioning spicy he's I love spicy I think he's tremendously entertaining. But I just don't know he's 30000 dollars of entertaining well and we'll see how he does on this tour to have it'll it'll be interesting to see but if that pocketing it's not easy he's got to make a speech for probably twenty or thirty minutes and it looks like got every kind of looking around a lot of the a lot of the panel will work and celebrities tend to be in that ten to 20000 range of us some examples what's in trying to knock it 101000 dollars and trying to pull some more here see. Why you do that will get ready for our next interview Dina Shanker. From Bloomberg is gonna join she's got to talk to us about. Fitch how do you know when your buying fish is it wild is it farm raised I have no idea. Dina does and she joins us next from the financial exchange radio and. Trumps administration hasn't passed any significant legislation yet but tax reform is front and center to pass the end of the year. Keep it here with Barry and chuck for the latest on the president's agenda and how the markets are reacting and this is the financial exchange radio network. If you're a 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 -- to their website USB IE DA dot or 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 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%. Annual percentage yield 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 logon to leader bank dot com get all the information about this great offer and sign up today before the rates change yet. Free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available online 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 well I get that question alike you know like I buried underneath trust I've got a will. You know sometimes talking about the basics is most importantly it in your right and people are so confused they'll come and say. I have a will lies they plan is done. And it's really not folks and and it in 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 will not doing now atlas you don't own a house you own nothing if you're more. Will probably suffice it could designate had no assets make sure you put like designated beneficiaries on your bank accounts you brokerage accounts. And you don't and trusts are for people that have accents rightly 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 because it won't avoid probate it will reduce estate tax is your 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. There will most of the time time to get back to basics folks call Cushing handle on 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 that'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 live on FaceBook and YouTube watch Barry and chug discuss the issues of the day and see which one smiles at the most. Is it financial exchange radio network. Like most of you know by local good. He said hey nice fresh piece of fish and heck when I go to the grocery store I don't know it's been raised in a farm. Wild and I'd love to know if it was and how I was raised our guest is Dina Shanker from Bloomberg she's done some research on this very topic if she joins us today on the financial exchange. Dina how do we know when we go to the grocery store to the seafood place title we know the fish were eating is farmed or wild. Anything with a much for having me and well that says he and sometimes it will tell you hat on it. I figured. Back at a supermarket you can always act epic counter. And night I sit that they don't know L I had to patent and at a you can not that bad but later. Cataract. And it. Finding your way around the table include it is the Bentley. Complicate it. Will you farm raised is becoming more and more common is it bad for us like if we eat. Like salmon for instance I think a lot of the salmon and I by the grocery story is in fact armories. Is it is a bad for us and they are we gonna get sick by eating farm raised fish. Absolutely not. At one of the publication didn't eat there is bad just because something is wild it because something is our race doesn't really tell you whether or not either one of those that on the but basically. Pop culture our hands at army can be done incredibly it's inherently. It can also be done very. So it can be done with her ample kind of antibiotic and you know at this captain very very close quarter and depending on the kind of seafood and we're coming about and human labor is even in pop. But at at the other end of the spectrum there are some really. Green mean apple culture operation. And it just hard and as. The shop there or diner which is what. So let's let's go to like when I go through grocery store they have a whole section. That's organic rate eve you wanna buy organic radishes and red peppers and broccoli. Is there such a thing for seafood did what I go to the seafood counter. Eight is there does the Department of Agriculture brand for organic vs non organic. There is no bets staying at USDA. Organic he. There is however organic. You know that coming from either country. But the USDA did not have organic it is that if you see somebody calling their seafood organic you can act on that but they're buying body. And and sometimes the worded it. The round around Willy Nilly without really any back. Okay now you do reference something called Smart catch. Well what does this website. All about Smart catch. But mark the program that at that scene beard found eight and which is AM organ at the end of act act. That. It isn't their program but restaurant to help app. I'd be attainable he would like it and it restaurant has a mark had logo. Many in the round at bay patent. Then it means that they are participating in the program and at what the program it is that how that may better choice it. I I using an online school called it relates. That. As a reading for all of the seafood like that that are really the effect so it's not just arms am and it. Armed damage from this specific army get specific country you know and and it will tell you whether about how the staff whether it the green ratings are. Back to late yellow bird good boy or a red earth aboard. And you're gonna pay for. Right you pay a premium. Well you don't game and different app and get outweighed. Bringing down the right movement obviously anything that higher quality usually cost more. So it a step it may be paying a little bit more at that buying better. It that is rays batter and there are ways you. Keep their menu prices about the saints one way is by very ample utilizing it higher best it isn't the best bet. Might have otherwise and it up in the grass and now you anything like that. Collared on there where I attacked that day a yellow colored by my personal favorite and that's sooner add a bit. And there you know they're making doc about it out of the bone they're finding ways to be more. So that they don't have to pack along. That cockpit customer I mean maybe there's a little bit and at that really. You know they're they're stale and they want people by there boot they know that caught in the big actor and. So let's Smart catch that you referenced is that reliable in your opinion. I would say it is. You know I find it to be a very and it included very confusing when it comes to sustainability. And the Marquette program is. Really very aware of how complicated this bad. And I and you when you talk to people looking beard. They are not just aware of the complications they don't edit the kind and processed and I think that at that diner at I thought Marquette I would feel good about eating at bats are. You didn't by chance interview Roger Berkowitz for the story to Jeff for legal. I did not hear you back about collect. He's really good knee he very knowledgeable as you as you probably aware so. He's been on the show before you bite you might give apply odd I was fascinated by your story though and I are sure prepared to thank you thank you. Do you Shanker Bloomberg what's your favorite fish. Probably swordfish swordfish figure soared in red grouper. I do like grouper especially get that down another four Mary quite a bit and arsenal salvage something and the sooner. I'm not a huge tuna fan salmon seminar like I'm not a big tuna fan though. I do like some good you know kind of white flaky fish is that all kind of blend together is wells are whom he gathered there all kind of near the same might attend the lake goes quite a bit not huge tuna fan. So if you add one to pick from it would be sort assortment. Good choice candidate I know I know about you if off I pro go grouper but it's awfully hard to find you like he walked into getting down south he can get open up here it's tough. Neat you know I'd buy my efficient Shaw's and it's you know woody get there yet salmon. Yeah it's sort finish. You get if you like fishes they eat in damn they can select from. Very limited. In in in terms of what you can actually get yet and the restaurants. Alarm applaud the I think they get the better stuff or do you remember a time we had Roger in and you stalinists all of that that first cut right off the top. Leah. That's the only. Flight pay the price she did we need to work. The Dow is up 33 points the S&P and NASDAQ are down justice midge. Oil is trading at 4895. Per barrel. It's very shot. From the financial exchange radio network. This is very Armstrong from the financial exchange did you know that once you turn seventy in half you are re. 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. 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. Workers at leader bank dot com. Member FDIC equal housing lender and the lowest number 449250. Subject to credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by leader bank's local underwriting processing teams for additional information call 877697900. That's 8776917900. Or visit leader bank dot com. -- -- -- -- equal housing -- and -- number 449250. Subject -- credit -- -- -- a step ahead hi this is -- 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 senior partner -- -- -- have been helping families like -- with -- state plans for more than thirty years and he's got a brand -- -- out this -- called back to the basics -- help you learn about the bare necessities needed to -- -- -- state plan but will also educate -- on important items like how to avoid probate and passing your assets along to your family -- Cushing -- -- right now -- 8668485699. And ask for your free -- 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 866848. -- This is the financial exchange with Barry Armstrong and chunks of yeah. You're exclusive look at business and financial news affecting your day you're sick leave your world. Stay informed and up today about an economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck saga. We have a breaking story as it relates to Hoover and I can tell you if this was a publicly traded company their stock would be down quite a bit today. Federal this according today's Wall Street Journal. Federal law enforcement authorities in New York are investigating. Whether Bloomberg technologies incorporated. Used software to interfere illegally. With its competitors this according to people familiar with the investigation adding. Two legal pressures facing the embattled ride hailing company and its new chief executive. And I think Jack this is further evidence as to why and where has he knew chief executive. It is this was one of the items that it come up over the last year during Travis clinics. Kind of ended his reign as CEO. And pretty much what this system did it was a system that was called hell. And what Bloomberg data is in his letter really called hell it was called hell. And in this was to try to encourage drivers to drive for Hoover instead of left now OK I'd like to pay him more. So that's what they did they have to figure out who was driving for both these companies OK so what Cooper did. Is they created fake a lift customer accounts and activated them via instant they trick to lift system into thinking that there were customers out there would really. There were okay and in doing so. It would allow Cooper to see which drivers were around and so the driver was mimicking someone. From over in their route there'd be a say okay this is a driver who's on both systems let's offer him an incentive in order to get him back on the war platform. Some drivers actually benefited from the drivers actually benefited the problem is lifted. Lifted not in it also might be what the FBI's referring to his unauthorized access of the computer that's government which is a criminal violation. And soon. That is the the big that's the crux of this issue here it's not that Hoover was treating their drivers badly they weren't they were trying to pay them more to keep them on the system. It's whether or not the process they use to try to do that was in fact illegal and then there's another. Looking into something called great ball which help drivers indeed local transportation. Regulators yens a big no no it. And this was a system that this would somehow identify who may be a regulatory authority posing as a customer. And so in doing so it allowed drivers to it didn't even allow drivers are pretty much prevented drivers are seeing that person showing up on their system. And so they'd avoid picking up people who could potentially cause the regulatory issues and how they did that. It just me I went with the mechanics of there's got to be some kind of database they have I would imagine. That's for a workable I mean it's the unity if it's wrong but it's still remarkable. That that they did it Jeff and is that these are two clear examples of how over. Was willing to do anything being possible and anything out there in order to try to generate growth in in some cases doing some things that were borderline illegal if not illegal. Card dealers around the country are benefiting from. Hurricane Harvey and they're probably gonna benefit even more from perking Irma I've got to believe it. Vehicle destruction. In Florida. Could eclipse what happened in Texas if he's just that based on the number of people. That could be wiped out and you look at those tides that are coming in. And there's not a lot of high ground to take your car you know it is like Houston that they need you look at all the vehicles that were wiped out where you put your car. Demi did the estimates are anywhere in Houston between three and 500000 vehicles that may have been. Ruined by these faults and so. Obviously car dealers down in that area are trying to get any kind of supply they can. Of unsold vehicles from the northeast from the west from pretty much anywhere they can. This may actually four of the car companies may end up being saving grace this. Yeah I remember auto sales you'd be talking about a million and auto sales have not been good this year. And one positive that comes out of this for the auto companies could be pay all that extra inventory that you've got up in the northeast are up in the midwest. Send that down to Texas and Florida via a get that inventory out there in in stark cranking again because it could be something just that starts to get. You know things moving for the auto makers but. I mean it it's it's huge cost of the insurance companies nor to do so you're talking billions of dollars and they've got the reserves and a you do but I mean really big eight you think about like think how much do you pay for your car insurance about 800. Really and how was last time it. I've never happened that night like I pay yeah I've been paying a thousand bucks a year for years I can't remember that ever happen you know so. I date London did business tendency all the poor insurance companies and the poor banks you know what. Days of he's the big insurance companies are built to make money. If they do and they reserve and they the they've got actuaries. Prepared. For this eventuality and to pay they wrote that they wrote the policy. Right if if they didn't like depletion of Britain. Is Rhode Island got a shot at getting Amazon there in the DEA if things that I like about Rhode Island. Is there governor Jeanne Armando. Is a former venture capitalist she's a business woman first. You know it's a it's a nice city it's it's it's not a top tier city. Providence my my concern with the Providence area. Is I don't know if it is quite big enough population wise to support this OK but I tell you what if you're kid. You know you might say say your graduates go back to the kid that's graduating from UConn graduating from Yale graduate from BC. Grading graduating from holy cross. You get a job offer Providence. Nice city much more affordable than Boston or New York who write good wage yup I like I it's not. It's not out of the realm of possibility. No my opinion it's not that the question that I have so the Amazon's talking about bringing in 50000 full time employees into this area. Providence if you include even the metro area only has about one point six million people yeah she's saying that. All of us and 3% of the people in that area are gonna start working for Amazon. It's just I just I don't know if you can get their quickly enough. With the city like that by comparison. Let's even talk about some of these is the smaller cities that we which we've talked about. At other times Pittsburgh we talked about we sent a cable news Pittsburgh have the draw. Pittsburgh in terms of its overall population in metro populations 2.4 million its 50% bigger than Providence. And anywhere in Connecticut is Connecticut you know. Wait harper government gosh tree they do anything to Ian. I don't think Hartford as chance would have a purchase our results talked about declared bankruptcy is a lot of the Hartford has come up average fourth. So Bridgeport interesting okay our industrial area. The upper bridge sports interest exits down close to New York City waterfront okay its waterfront property so we give potentially gives some benefits on that side of things he's taken a gay if you had a high speed ferry go to Kennedy Airport and get their number. So Bridgeport. Is gonna be picked based on its own. Merits I think that could get it's it's a small to small city 245000. People so it's not it's not only the area that is neat if you know your right on the cusp of Fairfield County so it would be chosen because of its proximity to New York right but if you're going to do that New York wants to do this. New York's gonna make the sale and say look we're gonna give you the tax breaks New York American to go across the board Connecticut. Connecticut didn't just about anything right now how often has a whole theater that's a pro like that I think that's kind of how they've gotten into this problem Brooklyn. Brooklyn's on the west is there enough space. Prime more space in Brooklyn and there is CI I don't think they're going to Manhattan. Because the need that hundred acre parcel where you united have to take over Central Park. They can't do Manhattan. There's there's no doubt about that but so. Let let's look at Brooklyn just as an option okay. Brooklyn you know there's there's some parts of Brooklyn that he can maybe get into. DOD is close to the airport which which is the one that's up there's Logan LaGuardia is up on the island yeah LaGuardia in Queens and then yeah and Kennedy yes so look will look. I can't pronounce that we're. That airport is close yeah and so obviously mass transit no problem all yup pony subway lines that run back up into Manhattan if you need transportation down there. I don't think it's in the New York I just I I still Wear the Atlanta as a possibility Chicago's the possibility. Lower cost living in Chicago you know you Toronto's on the list supposedly Pittsburgh we talked about Brooklyn we talked about our sorrow. Austin, Texas a thought about Austin and I wondered if it was far enough east Memphis Tennessee. LA. Detroit Detroit. Think about Detroit so what's what's the what's the selling point on Detroit aside from low cost eleven University of Michigan. Machines at B a lot of colleges there a lot of Smart kids coming on Michigan tech. And in Michigan that bite. And anyone alone just a living right yeah yeah boarded up houses yeah that could be I mean Detroit airport be amended Detroit airport one miles. It's it's huge I hate going there. And bill it's. I'm sure it's interesting because it you know again you do have some pretty good educational institutions right around they've got you know university Michigan which is you know forty minutes outside the city net in Ann Arbor. So Detroit could be in and cut off the radar possibility. There's a lot of cities at the of the could be good fits him in the more thought about this and you know I kind of sucked on it overnight. You know you can go down named twenty cities and say hey you know that there's some pretty good options when are you look at somebody's actually what if you look at you know something like national right. Internationally at Vanderbilt right there hold on just markets I mean it's like. There's some good options out there in I think. What's interesting is obviously Amazon's operating right now in a high in command high cost of living here in Seattle. The southeast could be pretty attractive to them because it's so cheap down. You know it's of something like national boast from a cost a little perspective as well as tax burden on Amazon. Could be low we know that auto makers have gotten a number of deals on a lot of these southern states Tennessee Alabama. They've gotten great deals out there on tax breaks to put manufacturing facilities in there this is an a manufacturing is it's not but I think. It could be a way intellectual capital. These states remember that a lot of the auto makers that have moved into those states. They're talking in and they haven't some cases move some facilities out to Mexico as BO as the cost has come down in Mexico. I think that you could see these states try to or Amazon just as a buffer saying hey we may lose out some of these manufacturing jobs look at all these high tech ones that we're bringing in. Insider buying is a bullish. Indicator why. Means that the executives of the company im looking at CBS right now and eighty bucks a share. If the executives of CBS start buying stock in that company hand over fist. That would be bullish indicator. Up next we're be joined by Michael brush from marketwatch.com. He has a list. That's right he's got a list of eight companies. Where the senior executives of those companies are buying the stock in those companies it's going to be an instinct segment grab a pencil paper. Michael brushed joins us next from the financial exchange radio network. Markets continue to fluctuate but we'd John you've covered get your daily update on what time and what's not pro Mike Armstrong every morning at 1030 boldly on the financial exchange radio live. Work hi this is -- 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 -- 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 -- -- plan but will also educate you on important items like how to avoid probate and passing your assets along to your family -- 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 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 ray does a locked for four years you -- 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 at 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 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&B rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution -- at 803934001. That's 803934001. Or you can download it from our web site financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are. Unaffiliated 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 -- no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice -- 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 on line so logon to -- -- dot com right now -- leader bank dot com -- -- a step ahead. Amber FDIC a minimum Alex fees may reduce earnings rate subject to change without notice and may change after an account is opened. The financial exchanges all over New England to go to financial exchange showed dot com and search for the station closest to view this as the financial exchange radio network. Talking about insider buying it's not illegal. Buying shares of the company which you work at. And if executives are doing that it may be bullish indicator we're joined by Michael brush for marketwatch.com. Idol Mike. Good so. Would your looking for insider buying had you I'd be gleaned this information how does one of our listeners figure out OK I wanna look up and see if and Amazon. If the insiders are buying shares and as. Well that's a little complicated now because yup it's as teachers rated quality in assuming you don't have. Partners its practice you know you have decoder so it's like our idea speak. But you know yup it's a shame you know yacht. Change but it needs to be in the data but that's one way and I have very set records do it so it's. OK so. It's it's hard for the individual consumer to it to do without paying a subscription fee. It's not too hard I mean netstat has going to be tested Google now I used to say the other night Google aren't spectators. Liquid assets as. Which step but that's just an aspect. I'm Mikey and I've been working together for twenty years and as long known you you've been an insider buying. How come. You know. Whenever it's Columbia business victory numbers oriented naturally so anything I do and that's in Africa quantitative angle. And this one just seems to work consistently in its starting. Research and that's why. Now do you look for substantive. Insider buying or he'd used in and how do you feel about the program to buy because sometimes you'll see that work. You know the executives are exercising options and you know they're. They're not really buying shares are just exercising options. Great. That's all it is a situation but it just briefly there are many like he gets by because. But that that worked bird dirt certain. Patterns our actions. The out just QB if you like cluster barker and city. The budget Vince Carter's by raising minimum under today. Sister and our but it seems to work. Options exercised at age that's actually can be your current site in the sense that they're they've been eight. Lower and lower your tax rate curves place the beat stark so I actually looked at. Especially out. Yet especially if they hold the stock right the exercise and. Dutch side so. That's so and by the red at a public here it's much better and so it is not as it pretty. We signals so they can't be good signal you know. You know you and I differ on that I don't like in set yourself. I don't have the quantifiable knowledge you have but I just. Yeah you just think about you know if they if the executive selling his old stock. Then it means he's got nothing better off else better to do with the money but you know I know they'll all arguments and Dan Harris. If they if they think they're stuck his. Sent. On aren't so yeah I agree it is an extent but a lot of times stitched soccer they have a it is more after that and there are. You know also a by the way I'd just put up this link on Andy age reps this call so it's really aren't eager readers. That crucial blood stocks did yeah and start. It would both Southwest Airlines. Yes so that this arms actually just big picture urged I think in our races earlier works right. That that's censorship because you know at that little north read dip in August insiders really stepped up on me. And it wasn't just music and earnings actions because they are selling it step by march so. I think that's really fascinating and I think that suggest that. Andy well back in the so that was credited means that call and and then you're set so that it. These sentiments are no Jews in the design it it quickly you know around our ears in August that is pretty actually. That's. Not to get this specific stocks. Yeah. There's definitely. That's Tucker you beat a debit actually want and you know there's also you know those airlines. Are because they've been making. Negative news at two adopted the jail and you beat there's his courage. In like a greater. Rate here. About Macy's I was surprised to see that on the list David new scenario though and he bought fair bit of its own stock. Yet it's not just hand it to a bit of a hardship now which is why it warmed up to it in neutral for but you know. She's very controversial because event opposite that issue and it failed but they are really. The valuable state and they're actually getting. Like these scanners in they have. Article backstage where there. There either dedicating. I urged the worst. You know like TJ Maxx and business model were acquiring better. There are which stores in doing so that's actually Carter well. They had some. There are trying to again in order so. I don't know it's just. It makes a huge thing in there you know crossed Vito has been reached its mind as Amber's here and but I think federated stance that it. The better. Very good Michael thank you very much for your time we approach it. Yet the website if you wanna go get all the stocks there's eight of them. It's brush up on stocks dot com. And articles written by our guest Michael brush were doing trivia today based on Steve Wynn and his latest project. What is the price tag on the win Boston Harbor. Project to big construction project many you've seen a lot of people you probably know people that work in on it. 68680s. Are tech's number you know the correct answer that question you win a 25 dollar gas card. What is the price tag on the wing in Boston Harbor project when we come back. Re talking about a New England city that is warning about a potential bankruptcy filing. Well that's a tough one to swallow and in Disney is in the news as well we'll cover that from the financial exchange radio network. You've got Barry Armstrong. Extra pressure on the financial exchange 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 banker called 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 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 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&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 with 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 -- 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 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 in right now what 8668485699. And ask for your free guide today that's 8668485699. 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But don't tell Berrian jogging the financial exchanges alive every day on FaceBook and YouTube and this is the financial exchange radio network. The wind. Boston Harbor project will ultimately cost 2.4 billion dollars it is the largest private developments ever in Massachusetts and try to remember what it cost to build. The the Boston Garden you know the new ones they like 500 million. Only the it was that much of that was like to tour one year to forty. Because that was a mean that was back in 199360. Million dollars back that that was a big deal 160 million dollars back then even Gillette Stadium I think only came in it's somewhere around and maybe he's elected lose your it was to a duel Gillette was 325. To bargain. Apart so yeah the winner on this trivia question was Robert from plain old Roberts take home the 25 dollar gas card as his prize in tribute today. Is brought to by the US Virgin Islands. Economic development authority the US Virgin Islands is one of the most competitive business locations in the Caribbean for companies that are looking to start a business relocate. Or expanse take advantage of the incredible tax incentives that are fully sanctioned by the US government for more information visit US. V I EDA dot org that is US VI EDA dot form. So Hartford and they skidding into bankruptcy we knew they hired bankruptcy law firm I think back in June up and they really go. When you're the one who told me that when it a when municipality hires out law firm that they're typically going and Hartford has now said. That they have a deficit approaching fifty million dollars and won't be able to pay all of their bills within sixty days. And so they have said that they will file for chapter nine bankruptcy at that point unless the state legislature. Tries to bail them out which. I can't see happening. You know this isn't the first time it's happened I'd try to find in the articles. And there's been about sixty of these since the 1950s. Cities in general or heart cities in this town of Hartford Hartford you know. Hartford it's a bad rap but back in the eighteen hundreds Hartford was probably the most affluent city in the country. Won't even through the last ego through 1990 it was still the center of the insurance university and a if it started to. Deteriorate pretty rapidly even by the seventies it was on the way down there you go back to that. Like when Mark Twain lived in Hartford. And was the that was the city on the East Coast yeah it was a it was a great spot has agreed to buy now look at it. Disney I at a time I saw the story yesterday should probably mention yesterday Disney. Announcing yesterday that they're going to launch their own streaming service talk about. A day leaked AME DDR. Dare we too late on this announcement I mean there they've missed the boat they they could've bought Netflix. Five or ten years ago for patents. In what they're going to be doing is in 2019 they're gonna launch this standalone streaming service it's going to be sometime in late 2019 so it's still none two years away now OK so it's not something that's happening overnight we. How can they be that late to the key to having it this is a BO is a large company. Bob Iger has been running for a long time I. You know Leone ESPN on ABC. They've got a large library I don't understand why it's gonna take them another two years to do it Netflix did. 56 years that there's a couple of reasons the first is overall Disney is continue to grow revenue bouquets at Disney the last four years gone from about 45 billion dollars a year in revenue up to 55 they've grown revenue. About 4% a year which for company that size isn't bad itself would you want to see but it's not bad for company that big. Beyond that now OK you don't need to go to the stock price over the last five years almost double bouquets of shareholders have been complaining a whole lot. Until the last two years were the stock is pretty much stagnated OK and they've been losing subscribers to ESPN there's definitely a case that they should have been a year quicker on the trigger here this is something that they should have been announcing. 1218 months ago because. You saw that things were starting to take a turn okay. The question that I have a what's your pricing and now okay so what what are what are they gonna be pricing the service is it going to be five dollars a month is gonna be ten like Netflix. If it's ten dollars all you get is the dues all our all the Disney movies and I don't know that's going to be good deal for. Most people now you know it's a wonder who's creating the most content now. In everything you see Netflix just like Craig that puts us haunt of content they they just keep licensing and buying up just about everything they can hear. So Ned but we're creating more of their own used to be where they bought. That's a lot of their content. From AB CNBC. You know. Now it seems like there are content. I wonder. Didn't we discovered they are the largest content created so I believe they are and in terms of you know what they're buying up delegates he's just unbelievable the properties they're buying it now and a production and now Apple's get in the game Facebook's kitten in the game. Amazon's been in the game for a couple years now so here's in in this is all I'm going to say on. All of those companies trying to get involved yup. There's always so much space for the big ways than okay you look historically you had. Three real quickly after four networks yeah ABC CBS. NBC fox fox easily Coca so you have space to support a kind of were broadcast networks when you look at cable. Okay how many cable networks became truly successful. You know we're where they're getting the kind of rating one broadcast networks to its one it's ESPN there's no way you talk about oval CNN didn't as a million viewers today. Not a meaningless now okay you talk about what the broadcast networks we're doing on a daily basis you're talking 1015 million people every night tuning in. And so the question that I have is what you got all these companies that are starting to say hey we're gonna throw billion dollars content and throw billion dollars this. Is there that much space so I just I don't know if there's that much space and populations and I've grown. They'll populations are growing and look we already know when you have 600 cable channels people don't watch 500 median watch one at a time okay. And so we've seen this over saturation you can get by with that on cable casino workers can charge one cent a person if we get fifty million subscribers pay what great we've got 500000 dollars a month that are coming in and revenue we can build a company off that. You can't do that if you have ever won trying to pay five dollars for this at five that there's always so much money to go around they don't forget. During the month of September you can call Cushing handle on and received back to the basics to complete guide to a state and asset protection planning their phone number is 866. 8485699. Or you can download the guide for free on their website legal exchange showed dot com. Trader allegedly paid Amazon employee. And frat brother 101000 dollars to steal earnings results in a one point seven million dollar insider trading scam. So two thoughts on this what what is alleged years the SEC is alleging that my Ozzie are risen Connie. Paid an Amazon employee 101000 dollars. In order to get access to the company's earning results early paid someone named opportunity. Button okay they were a fraternity produced again. So two things we know it frat. Pitched his second and see it anywhere I wasn't sure so it didn't it didn't specify to two things. First of all. If you Brit Kennedy if the guy is saying that he's gonna make one point seven million dollars on this scam you charge a whole lot more than 101000 dollars okay. Secondly yes go to jail and I mean if if this is true and it seems like they have some pretty reliable evidence here it's not going to be pretty. And their quarters are over. I mean especially like you can't commit this and get back into the securities as. You accuse your your doctor you're done forever that's what's amazing here they bought a beat your brother Reza Connie bought one point seven million dollars of Amazon's stock and he made over a 1161000. Dollars in profits spoke nine and they have you know all of these you know emails that apparently go back and forth between. The two of them apparently what they were gonna do was open up a hedge fund together after they've shown us as a string of successful trades it's like how dumb can you beat. Well look the answers are very very busy answering. I GE shares now trading at 2369. Out Ty everybody is dumping on GE NER. You know Lee talk about Morgan Stanley here JPMorgan eight everybody's reducing their their ratings on the stock. He kind of looks a dividend trap you know you look at that stock and and not looking at right now track three point 85% dividend yield looks attractive. Debts it's even with with the way it's moving today it's actually north for. And what's interesting. You know gene is a company that it still generates telecast flow knew it still is a profitable company this is a company that's losing money now okay. And so I wonder if people are just getting a little too bearish just based on the sentiment out there. I don't think they're gonna turn themselves around quickly is again this is a behemoth this is a company that does about a 125 billion dollars a year in Grafton now you don't turn companies like that on a dime. But you sit there and say look at doing 125 you know 125 billion a year in revenue. Market cap on it's only near 206 billion so it's only one and a half times sales in their still growing revenue 8% a year in. I don't know I mean the you'll get in the long run you say look you don't the F throw everything in their right now but it's it's starting to get relatively cheap. You ever guys watcher ever watch the show lie to me. Humorous TV show lie to me I think was any decent thing came Sharon know it was a is a show. All about facial recognition and reading people's faces to try to find out whether they are lying or telling the truth to what their intentions were. Reside bring it up is largely on fox in the next segment we're going to be joined by how Hudson. From the economist to talk about what machines can tell from your face. That's next from the financial exchange radio network. The financial exchange for Barry and chuck is live 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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This program will automatically deposit your rent checks into your account and we'll help you avoid the hassle of waiting to get a check many landlords are suggesting that tent and sign up for -- into upon the execution of their release and why wouldn't you wanna do that once it's set up you never have to make another change during the lease period zero and does a free service if you have an account with leader bank and if not they'll simply cost you a small monthly -- cult leader bank right now and 8776917900. That's 8776917900. Or go to -- rent dot com for more information member FDIC. Security suffered through securities America Inca members finreg SIPC an 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 case the financial exchange radio network. Joining us now to talk about the progress in facial recognition technology is how Hudson from the economist. How thank you for joining us today. Trip thing happen to be here how will it literally stand how advanced is facial recognition technology today. It's pretty dead in China you can use your face stepped papers you can use it to him. We walk in to tourist attraction and the police in. Pretty much most countries in the world are starting to use it trying to pick suspect that the crowd. In April in the UK at today tennis soccer game. They just thought he had the crowd based on match that they got from there there TTP I'm so if it's starting to work really really well what. The biggest limitations that the technology still has today. I mean it's not equate it with technologies like that the difference tonight 98%. And a 100% is huge. And it takes so long time to move up through those last few percent and it makes the gigantic difference you know if you're gonna be falsely identifying a whole bunch of people. Which you are at 98%. It's your technology not the very useful but it can eat and crank it up to assertive in 99 and a half. Up toward the hundred in Everett at 200. I don't that the British still not quite there in terms of accuracy that that were very very close. What are the biggest impediments to getting to that 100% accurate accuracy one of the things I've heard. Is that a lot of these systems actually have more difficulty. With women than with men simply because of things like the fact that their hair can change from day today and that might be something that they're not able to identify. I've not heard balance specifically I'm back and play the kind of thing that is totally possible. The world just met. You know people walker and their faces down in the you know they were sunglasses and they have piercings in one day and not another an important thing is that. When we recognize the face. We we had to do it. The best word for it may be holistic way where it machine don't know what they're doing they're just looking for patterns. You know it is like is specified yet this is a five and so it's Connelly can. Bristol where are our ability to recognize faces and do lots of other stuff is much more flexible so he you know that they can feel pretty easily. In terms of how how this is starting to be applied on a day to day basis in our lives you mentioned some of the things in China. That people can do now how close are we to getting towards a minority report type of situation where you're walking down the street. In you're getting custom Madson do you just because billboards recognize who you war. Well written it. Exits. At the moment that I am what they do. They don't yet recognized you and they are that's how popular profiled him. Date they'd look at you wouldn't say about the matter and it's basically to pay out thirty years old Serena and then decide about it. But it it's not much of will be between there actually identifying the difficulty is. Who actually he controls your digital identity in China it's because the government whereas in the west it tends to be companies like Google and FaceBook. And Google and FaceBook are unlikely to let a bunch of third party billboard advertisers just plugged into the network you know. Heard no benefit to them. One of the things that is talked about it in the article here is that machines are also starting to get better not only identifying. Just deal basic things like job man woman. Blond hair blue wise but starting to be able to identify emotions that people are feeling how does that work in terms of what it potentially. Leads to as far as developments. Yet it's one of laced interesting implications of that the act we pulled together there which is that. If he is this stuff works well they got that work. If that stuff gets rolled out perhaps in wearable computers like a Google glass or Apple's equivalent to. Then it's going to be very hard to have masked your emotions and Israel though there's times when you don't. Want a really good reason the other person to know what you're feeling like you know in relationships opted not a good idea just unload on your partner all the time exactly how you're feeling in Kentucky keeping yourself. And that's kind of what makes the world go program and so. If technology is deceptive years. I'm forty shortcut topped all of this. Really reasonable withholding of emotions than he did you know it's gonna make relationships more rational but it also might kind of make them less human I think that. So it seems to me that you know one of the things that we talk about with a similar type of technological development was self driving cars one of the biggest things that we have to figure out is what do we actually want. To be where we where we want the rules to be with this technology. Yet and you know it's difficult boxes at least it's up to having courage you know. We've got roads and there are rules that block and go on the road and take you know at existing. Rule makers in place to deal with that with this technology. It's very very hard to beat goes on on people's phones and to police what goes on on the you know their laptops in their house in Florida. They usually characterized someone Pakistan with a bunch of photos of them and on the bumper on the swollen in the very difficult stopped after happen. And it seems to me that the the law in a lot of cases is very slow to react where's the technology develops very quickly. Yet you know it is a constant in money. Work. IT technology being head of laws that where Britain you know twenty years ago. In some cases not a bad thing goes ballistic a couple of principles right they're not poster really be reactionary and technology specific but I do think in some cases the they get left behind in the pulpit that's particularly true in the US where. There are no rules regarding what the company can do we view where they print you know that this sort of mathematical number that represents your face that can be extracted out of photographed. That's just it's an open playing field except for Illinois were that currently the court case going on about it. Good how thank you very much of the time enjoy the weekend. Thank you pal Hobson from the economist talking about facial recognition technology we wonder about something that you think back to 9/11. Right you have the terrorists getting on the planes would data picked up on. Don't know you know they think he just think about the applications for like a lot of terrorist activities. Right if you could read their facial expressions. You know he could stop the action before yeah I guess this is also the flip side if the question that I always have with things like that is OK how do you know if someone is angry because they're trying to cause terrorist act or they're just angry because they got cut off and trapped and got into an accident on the way the airport you know like I. I don't know maybe there's a way that you can identify them but now it seems. Challenging to us please it's just it's fascinating deceive the technology that's getting rolled out and knew we talk about facial recognition technology. I think we got of we got a text message earlier saying that the driver this car bill passed. And that and president's been assigned I don't know that it's if that. I don't think it did I don't think after the senate got through the house suddenly the not sent. Not the senate senate can carve up. Hey wanna thank you all for tuning into the financial exchange today let's say Jewish prayer for our friends in Florida. They're gonna get hit very hard worst time will be between midnight on Saturday at noon on Sunday for what we can see. We're broadcasting from the financial exchange radio network.