Sep 13, 2017|
Full Show 9 - 13 - 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 of 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 and every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. The new iPhone X is out it's on the market is going to be available for sale. Next month and I got to tie I think they hit a home run hi everybody it's Berrian truck with you here on a Wednesday. And son of a gun. Apple has done it again. Yeah apple with their big announcement yesterday at this time unveiling three new phones the iPhone ate the iPhone eight plus as well as. The iPhone ax which is the tenth anniversary edition. That tenth anniversary edition is a premium priced starting at the U low low price of 999. Dollars and out. Starting yet folks you know late night I was looking at this thing. And if you won it with real strong memory and fast processor. You're talking 11491149. Dollars then you have to buy carrying case for rate with a carrying case you do. You're darn right for if your buying a bold for 11150 bucks. You that you eat you better have you better have a case for if if your pain 1150 rate. An element of I like how they look without the case they do look nice. Look there beautiful phones I I questioned you know whether or not enough people are gonna shell out the money for these things but again. They always duke is people love these apple products despite the fact that apple has the fattest margins in the business somewhere around 35% well I figured it. By Tommy bile the goodies come along with a with the big what you're after thirteen fourteen under. As Tennessee thirteen it would it would else would I need to buy it he says case it's gonna have a charger and it's of people buy accessories and things like that you get different headphones in this in the they see its wireless charging can you explain how that works yet uses what's called conduct of charging so it's a you know it's it's been around for an awful long time it's not new technologies is new in the application with the phone you know on the pretty much what it allows you to do is put your phone down on a little pad while and it charges right through that pat it's not it's not gonna charge anywhere in the room or anything like that suits. It's not permanently charging if it's in your pocket or something so he's still have to senior electricity. And gifted and yet to be near a device so the big savings and it is that you don't have to go to all that effort plugging it. It's I kind of look at it and so if you have to put it on a pad what would it would really was a unit abroad and it's a very slow charges compared plugging and plugging it in apparently. It'll charge 50%. In half an hour. The three yeah wire about twenty minutes twenty minute wireless charging is significantly slower it's it's not something that works as quickly. And that's just because you're using what's called electromagnetic induction as opposed to. Just you know actually putting thing in directly into the battery big display five point need inch. Display where's the clustering now's five point five rate dips or to bigger display it's not a bigger phone actually because what they've done they've taken away the vessels at the bottom and top of the phones if you take a look at an iPhone now it's got the black bezel at the bottom top yeah they've taken those away it's all screened the entire weighed down so it's. It's a beautiful. Well. I don't think people are gonna bite as beautiful we'll have a big thing. They're gonna buy it here I think people are and I know he's got a because their adult know it Tony I've posted the summit FaceBook page in in everybody's very negative. You know hundreds of people respond on a negative on two well I'll tell you why who's gonna buy. Nerds the pixels he would be this one of the things could be if I have one of these you're going to be jealous of me because my. Video is going to be look a lot better that your. Might might it's gonna 450. Pixels per inch. Verses 401. The the regular iPhone eat and your world sevens and sixes or even less than a guy much better screen. Here's what I really. They shall identification. So what I've thought about this actually had an interest in thought about the face ID theft proof. I think that this could actually cause more problems while the rule why would any jewelry to couple couple reasons here here here couple things that I think could potentially go wrong with us okay. First we'll start the comical look at your college party when he friends that a little bit too much to drink it falls asleep on the couch yeah all of a sudden you police his phone out. Use his face it there you don't need his password all you have to do is have him look at the phone. And then you have full access to that opponent you can do whatever you want. That's reason number one little common a second thing. OK so now you need you know the face in order to access the phone where all of a sudden you start seeing more people instead of just being robbed their phone to being abducted so that they can you know open the phone and then they can use a serious. They are I'm completely serious I don't ice I like the facial identification. Think I I think this is apparently didn't work during the demonstration no it if and they still have not clarified whether or not it works appeasing sunglasses are wearing a hat or something like that so that it it's still is a work in progress. I will say it is incredibly secure technology and ideas that. Future dishes like you this facial identification. This'll be when you're walking through an airport Huckabee pulling your dedication anymore this could be. Walk through and and the camera to picture on our way to go to the bank it's not going to be your ATM card it's gonna be your right. Your pixel exactly and that's why I think you know some of these things look if you're asleep now okay you your phone should somehow knows that look you're not conscious you should not be unlocking that poll like this little things like that that. Again it's underground Israel's compared to what that word you worry about whether somebody passes out as if it too much to get. And summary at different generations. To our larger battery the phones very heavy. The the acts if it's. Like considerably heavier than full and you have currently and even mighty when I have seven plus you of the seven plus one of the questions we just got in what if someone else needs to use the phone and emergency -- that note there are overrides other emergency numbers you can effectively I forget exactly what is missing you swipe something your press something five times. And it allows you access to emergency numbers. Camera much improved camera this is another thing you know for people use their bold. I probably used my phone. More as camera. Then I do. Then grand shall I just look at the that I do as a than I do is appalled cameras on six and seven are good this camera has portrait lightning. Wonderful. Like what am I trying to do I'm not trying to be Vince van go out here you don't have grandchildren. People who have young children that infants they're gonna buy it. At you don't Al's gonna buy this phone all the young techies all the young Biotech. Guys all the finance people they're going to be all over the doesn't mean they're Smart. Still gonna buy it I completely agree thirteen hundred bucks out the door. By the time you pay your taxes there's a lot of money pre orders begin on October 27. That's for the iPhone ax. OK for the I don't get him until November knowing I can get the BX won't be available until November and the they eat and the ES partner eight. Plus rather are going to be available on September 22. Why is there so much. Consumer. Resentment towards the facial ID there there and they're saying that. Many consumers. Don't want this facial identification people understand you know they understand that it's more secure like thing about the fingerprint how much resistance there was to the fingerprint scanner yup. The apple touch ID is the most secure way that you can access your phone by four. It allows you have a much more complicated password which makes your phone harder to hack and decides at the way they built the technology it's pretty revolutionary the actual. The fingerprint scanner doesn't connect any network all of that is stored internally so it's not connected to anything that can actually be hacked which in the wake of the Equifax scandal. It's pretty important so you know this is one of those conversations I've talked about it before look at a certain point the convenience that we get by having everything connected. It becomes a threat because of all of our data being outbreak Apple's figured out a way. They were gonna have this one chip in here it's not connected to the Internet it has no way that anyone can get in there and because of that. You're able to to have more security there I think eventually facial recognition is going to be the same thing. But again you have to make sure that data stored locally not up in the cloud because it is. You run into problems you remember chucked it within months of the fingerprint identification for the iPhone. People have figured out how to hack in others how to make cop we have had a he had really get into the phone and in do some things in order to modify the software. No but the the fingerprint itself work it wouldn't wasn't there are people that were. Making copies of your fingerprint in order to access the your phone it was there were some stuff that they were able to do initially they cleaned it up by no on it this is supposed to be more secure than anything it is another question from five away what if I hold a picture of myself in front of the phone will unlock it won't what the phone does it creates a 3-D map of your face and so it looks for that 3-D map when it's going and trying to recognize your face not just a two dimensional flat image. Now Nellie it's. The. It it's a it's going to be a big seller I know people are vastly negative on it by the way it is our poll question today. Will you be buying the iPhone acts next month no. Now Tammy you know by now now get four. Well right now it's 60% of our listeners are sane and by the new nerds. Looked eat if you have a lot of money. In and you know money's no object the year you're gonna buy things. If it. If I had 15100 dollars to spend it spend it on something better than a phone Blake about the end of the day. How much better does that make you little junior got the phone next great get better pictures of the grandchildren think about the trip you can go water bottles and I want disease unhappy with my success are going nice pick yeah I think I'm on vacation you can go on for 15100 bucks and. When we come back Brit talk about Apple's bet on augmented reality. To sell its most expensive phone I read this article twice and still didn't fully understand it. Terkel explain to us though because evidently he understands that a whole heck of a lot better than I do we're talking about the new iPhone next. And the augmented reality features that are associated with a all of that from the financial exchange radio network. 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 brakes here we Berrian just on the financial exchange radio network. If you worked hard and had success in your professional life protecting your wealth and your assets is essential to your ability to enjoy your later years advanced estate planning as many benefits and if you're like me you should want some sound advice on the best way to set up your state hi this is very Armstrong and if you're in need of a state planning council or perhaps you just want to take a second look at your existing plan you should call Cushing and -- at 8668485699. And ask for their brand new guide called back to the basics -- lets -- host of the legal exchange radio program will educate you on the basics of creating your state plan including how to avoid probate and estate tax reduction call 8668485699. To get your free guide today the law firm of Cushing and -- has been helping families protect their assets for more than thirty years let them help your family call now for your free copy of back to the basics at 8668485699. You can also download the guide by logging on to legal exchange showed dot com. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking -- -- one point 15%. 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Yes so you know for first time home buyers what we are telling men are a couple things one be patient. Yes you know we we see a lot of first time 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 do. Paying more than the asking price and a yeah it is quite common right now in and in some cases they're actually having to to research other towns 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 tell us about this leaders thirty yes who we are really excited about this product we just launched it is called leader thirty. And essentially what it is is that fixed rate loan from. Where if you sign up to pay your mortgage automatically electronically that everybody does for the first year. You get to lowering your interest repayment by one person that's very helpful offer because when it does is it gives you a break during that first twelve month period exactly so gives you little payment relief for your moving expenses you still have the security of a fixed rate mortgage. When I bought. A hole. And when I've refinance my properties have always used leader bank they are terrific thank you can call them told free at 8776917. B 900. Or visit them online at leader bank dot com to learn about their mortgage programs. 8776917900. Liter bank back on. I like talking to a person face to face him a call 87769179. Country. Security suffered two securities America and members finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated. Get the most comprehensive weekly economic update from CNBC senior contributor Larry Kudlow every Friday at 1045. Only here on the financial exchange radio network. Well the results on our poll so far is that only 12% of you will be buying the new iPhone X when it becomes available next month. October. 27 is wouldn't you can place your pre orders for the iPhone next. And it will be begin getting delivered in November and less they have production problems that which I. Do you believe they don't already have a warehouse full of these old main factor if they did they wouldn't be waiting to November to release a great Christmas present. Still it'll be great Christmas present even in September and on. Let's talk about augmented reality. I we've talked a lot about virtual reality. Those headsets yet what is augmented reality an apple seems to think that that is the reason consumers. Will buy the iPhone next. You know what augmented reality is it's not something where you slipped a a headset on your head your walking around in a completely fictional world that augmented reality is the use of your phone or another device. That pretty much puts a layer up in front of view that adds different features to what you're walking through soon example. Let's say you've got your phone up your walking through mall then okay. As you're walking through if you walk past the gap yeah. You might gets in the pops up on your phone saying hey there's a deal that gap right now. Makes you come in here okay as you're walking we don't get that right now a giant skiddie it and when I walked by something where. The senior citizen discount against text this figure more in terms of possibly similar to what we saw with Oakmont go last year. Where are you holding your phone up and something appears on the screen suits it is built accessing your camera exactly okay and that's that's the featured its ways to change human behavior. Through what showing up on your phone. I don't know the promises as robust as people think just I don't know if people wanna have that much screen time like when you walk around outside and a nice summer day use can have your phone up all the time the that the stocks down two dollars. In in idle because the iPhone next delight. They lose they lose a month of fourth quarter sales. Poll. I don't know I guess I I could be all went on this and on far from the technology expert. But I do know that there are a lot of features with this new phone coming out of apple. That people are gonna want an elite guys don't want it near knocking apart with the money I don't I don't there's a lot of you know all. The deer there will be deals from Verizon. And AT&T. And T-Mobile. In the hill somehow they'll bury the cost in that you'll have a higher monthly bill. You'll you know they'll they'll amortize that cost of the new iPhone over it be electric car lease you know Buick over a year age they will but I think that's a bad idea. Mean it's bad for the average person to be buying something like that. Depends on what you'd you know like think about how much time what's abdomen at times beat people spend on the phone a couple of hours and I know but that's not saying that they should. The big changes that are made on this phone like don't jump out to me something now because there's nothing here that's like a wind need to have only surprise is isn't it ironic that the old guy. Is more impressed by the new life when it was an idea what is a better camera get me. Better picture so obviously what would the bed and when you're watching video on your on your new iPhone exits gonna be a better video experience. Longer battery I don't. Watch that much like I just think that overall. There's not a whole lot here that is revolutionary. And they did it again it's it's another iteration which is great but it is there any say. What what's okay let your not gonna buy it. Do you think camera do you think people are gonna flock to this film I do. Except that it's I think it's because the thing about the average family we we just guiding coming data that came out from the US cents all right let me ask. The average families making about 59000 dollars a year. As of last year and that's national that's nationally you tell me. That they're just gonna go out in its a good idea for them to go outspent 2% of what I learned on this phone that let's let's not get into. Let's go let's just I mean that's what we're talking let's let's talk about these new income figures because that's the wood is that the median number. If yes that's that's the median household incomes so the the US Census Bureau came out with its. Study of income from last year they do this every year to see. And how much are people actually make an OK so the if you're in the media in Britain the middle the fiftieth percentile okay. The median income for US household last year is 59039. Dollars is that includes Kansas that includes Iowa that includes include North Dakota not only geographically but it includes young Pham was pin was in their twenties includes families in their eighties in ninth ranked who were in a retired for exactly so. You look at the overall breakdown that's household so it's a single instant. Right you'd have a single person with just living on Social Security of a thousand bucks a month. And that's counties in effect you probably see quite a bit of it the tenth percentile also if year you know it in that tenth percentile. The limit there's thirteen 1608. Dollars or 10% of households in the US earned less than that on a yearly mosques OK beyond that you go through some of these other numbers. The ninetieth percentile. Okay to be in the top 10% of all households captors but that so. This is if you're in the top 10% and this is a national number is a national number in the top 10% yet to make north of 170000. Dollars. Per year compare to be in the top 5%. Case in the 95 percentile and yet make 225000. Dollars. I don't they don't give data up to the top 1% fortunately that'll bring it down that grant the in that kind of detail you know right now. What's interesting though when here's where we start to get into you know the ships in income over time that okay. I've the data go back to 1967. OK okay in 1967. The ratio of how much the ninetieth percentile aren't done to the tent so you top 10% vs your bottom 10% it was nine point 2321 said the someone in the ninetieth percentile made about nine times more than someone in the tenth in what year is that those in 1967. To what Asia now that ratio was twelve point 521 so there is some validity. To the rich are getting richer and the poor or are getting pork here's where you really see it in terms of the the share of income the different. Different household Quinn tiles in this case names of the bottom 20% vs the top. He go back to 1967. The bottom 20% earned about 4% of all income earned in the country okay let's get that again bottom twenty. And 4% in what year in 1967 Boca that it has been a huge shift there today it's three point once they've Austin okay. But there has been huge ship there where you see the big shift is in the middle class so let's look at the third Quinn tile this is the forty to 60% range okay. Right in the middle of the US. Back in 1967. They are seventeen point 3% of all income in the country today it's down fourteen point 2%. Big holing out of the middle class there what do you attribute that to what's kind of unions upper middle class to went from 24 point 2% down to 22 and OK so a TV you're richer your pork. Indeed the top 20% now back in 1967 iron about 43 point 6% of all income in the country today 51 point five. So what I tell you half. EU either today right you have to be. Yet that the skill like yet to be an electrician or simulate that. The F to be a doctor yet to be a lawyer or. Eight you your chances of being in that top 20% of pretty dismal the other big thing is gee geography. Just got his big we'll talk more about that got little continue to talk about income disparity in the United States when we return. From the financial exchange Reagan. Making your Smartphone even smaller here Dell Motorola mobile lab by surging financial exchange show in iTunes or those who who played stores this is the financial exchange radio network. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks -- hassle out of rent day we're zero and leader banks all mine rent collection tool zero automatically deducts tenant's rent and deposited into your account visit www. C rent dot net to learn more would you rent your payments for each unit received regularly on the same day every month tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot meant to learn more or call 7816418691. This is very Armstrong from the financial exchange did you know that once you turn seven Indian half you are re. Securities offered to securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. 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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 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 pastor closing calling 8776917. B 900 that's 8776917900. Or visit leader bank dot com member FDIC's equal housing lender and MLS number 449250. Subject to credit approval leader bank a. Time now for the street watch a look at the market's performance so far today act of Barry and jog right here on the financial exchange radio network. Time for Wall Street watched Mike Armstrong is here getting up to speed on the biggest stories happening in the market today Mike let's start with Nordstrom what's going on. Well in check so well we're getting a little bit more rumors about the company finally being taken private they've been in discussions and Nordstrom's same has been discussions with private equity firms specifically Havoc from Leonard green for awhile now. Still no firm details on when it's gonna happen at what price but these stock is up 6% today on that surge should be 5% today on that news you're big stocks still down pretty significantly. But a pretty big to be bombarded today. Just speak energy has been an open down stock to say the least over the last couple years here. Up front for them so far this year but some news coming out of the post post hurricane aftermath. Yes elect said in a pretty tough here in this year down there is substantially add double digits. It's. Looks like they have sidestepped her and her theater. They've got some drilling and that exploration down in that area and in the sector sidestepped it almost entirely that stock is up. About 6% on the news today. Good Mike thank you for the time that is Mike Armstrong with Wall Street watched. Our let's get back to topic of income distribution I think I read. That the vast majority of the income knee gains have been need in major cities like Boston New York Chicago. You get into. The more rural areas of the country their incomes have gone up one iota and yes so looking at the overall distribution of income as well as where people are. Inside statistical metro areas bouquets of inside you know pretty much what would be considered in the Boston metro the New York metro area. They're about a 108 million council's. Okay. Six million those fall into the top 5%. And so overall means that if you're in that if you're in one of those areas you've got about a five to 6% chance of being in that top 5% as far as earned income debt. For people who live outside those metro wears so go out and out in the rural areas there's eighteen million households. Only about 300000 of those are in the top 5% it's less than 82% chance than if you are in a rural area. Just don't have the jobs that pay the higher income couples on by the same token okay. If you are in one of those rural areas about five million of the eighteen million households out there are in the lowest fifth in the bottom 20% so there's about a 30% chance that you're in that bottom fifth. Compared to in the metro areas to only about a 20% cheats it's a big difference knows the cost of living. It is and so it is a case where if you're in those major metropolitan areas and yet you might be in the top 20% of income but cost of living might be 50% more than living out Ian. Some rural areas so it absolutely factors in. In is definitely something that you have to remember there because coastal living in cities. Can be significantly higher than if you're on the country so quick. Message for. Landlords meter bank has this on line rent collection tool that is a great service for any landlord allows you to collector tenant rent payments. Electronically. If you wanna learn more about as good as he red dot net without the need to collect checks most landlords that I know use their local neighborhood bank to do their business. And now leader bank. Is making this unique program available to those banks so they can offer to use the customer if you're landlord in your interest in having your bank acquired as he ray technology. Tell them to calls he rent at 8776917. B 900. That's 8776917900. Or they can visit Z red dot net stop chasing down these late payments and running to the bank to make your deposits. Get your bank to add easy rent to its list of offerings. They can visit you red dot net or they can call 8776917. B 900. Good news. And bad news. Good induces the uninsured rate of Americans fell in the year 26. That's good news what's the bad news. Hillary's and it fell more people on Medicare. So it's not that people are actually doing a better job of inserting themselves it's just they have to insure themselves when they get to age 65 holiday becomes much less expensive you know if your 64 years old and many of you know this story but if you're. The 606162. You know the cost of health insurance can be a thousand bucks a person's point 02000 dollars a month for a couple. So there are a lot of couples that when they're sixty years old I've met them and they've said now we we just can't afford it and then when they turn 65 the eagle on Medicare. Yeah and in what's interesting you know we still have seen a sharp decline in the overall uninsured rate in the last four years we've got rabbit almost 42 million people lacking health insurance down to 28. So making some progress. The biggest thing is in in the northeast and in particular in Massachusetts. Massachusetts continues to have the lowest rate of uninsured people. In the country just 2.5. Percent they've got to be two reasons for that one where rich state. Tends to be wealthier than the average. Yeah much yeah radiant heat did that that. That would you say it was 59000 nationally yup I'll bet your message is let me throw gets out there hasn't told us right now and I don't don't tell it before. Digging deep can you put up by state I have Massachusetts by state I can pull by state GAAP I'd love to know we have to think people would like to know New Hampshire and the other neighboring states but New England in the northeast tends to have. Much higher. Income levels in the rest of the country owes as much higher cost of living in higher taxation but I'm gonna guess Massachusetts median income 73000. Close seventy. With the Connecticut higher let me do New Hampshire first just so there New Hampshire 70000 as well. That's an unspoken etiquette. Connecticut 71000. So median incomes a little bit higher than usually is usually is Vermont. Of the green and you are. Actually lower than national average to only 57000. Mean same thing Maine should be lower as well Maine's only 51000. Rhode Island on and it gonna guess on Rhode Island and say 57. Who did this 58. Now. That's the way it goes that's the way the cookie crumbles. The record low Birtley we added jolt report yesterday. First of all with teller but it with a dual report means yet don't report it short for the job openings and labor turnover survey jolt sounds a lot better. And it measures the number of job openings that are out there as well so many people voluntarily leaving jobs how many people are being forced out of jobs. And it gives us an update on what's going on behind the headline unemployment. Now okay. What we saw six point two million jobs available right now and that is I believe the highest number of available jobs since they started. Taking keeping tabs on it is OK it is. What's interesting here. Is that the hires rate. Has been. Somewhat stagnant is not keeping up with the job opening. Pennington. The of separations you're actually seeing more voluntary separations which is good it's retirements voluntary separations due to retirement or your leaving a job because he says hey I can find a new wanna get a better deal somewhere else. So that's good to see. But the Oprah hiring. Great question for him yeah ED I get that. Great people are quitting their jobs you we we will look at the quick three every month and that's in something that we look at from the Bureau of Labor Statistics yes. But why if if people are in fact doing that and not retiring. Wire we've seen higher wages barely wait you and I both commented on the first Friday of every month I feel like Charlie Brown. Because I keep saying wage growth is coming and then Lucy pulls the football from me just as I'm about to kick. I think the answer still lies in that elevated U six number which measures the number of people that are under employed not unemployed Coca. We still have more people in part time jobs. Then. We want to see there's more people that are marginally attached to the labor force than we want to see him but. Natalia and I question that statistic as well because you talk to employers and they'll tell you there haven't won Dickens at the time trying to find workers so if you want to know the real reason why we just haven't gone out. Employers haven't budged they're not yet willing to pay that they are more willing to weave a position unfilled. And then raise waged by 2% there's a theory. That a lot of these postings. I've been Neitzel inexpensive because of the Internet you can literally posted job and it doesn't cost anything to post stroke. Is that a pox it is is is that possibly. You know skewing these jolts numbers but the Internet that are upper twenties. Who would be okay but. Why would you post jobs you're not trying to fill. But when when when it would if you while trying to be this theory years. Let's say your hiring an engineer. Yeah and you can get an engineer you posted job and you want to pay that engineer forty knowing that the market rate is really sixty. Oh what to do them justice of soccer's world to work for forty rate you can make money. I guess I mean that's that's yeah that's the theory behind. Why somebody would be posting yet rated B or let's say your your hiring electrician. Right and you know that the market rate for electrician is 85000 dollars to be you can get somebody that's willing to do it for 45000 dollars. It in you can make you can you can plug enough work for them. I think with the the hires rate being stagnant and I think it's showing that people are being a little bit more selective about what they're looking for though and so they're not taking those lower wages and it's just. Companies are not adjusted upward yet. Now give the companies are more willing to say yet. We're gonna hold the line on wages and leave that position unfilled as opposed to filling at a higher cost. Small victory for some of our listeners they were trying to and in many of you were trying to freeze your credit yesterday and I compliment you on that. The Equifax company decided to waive the five dollar fee and in some cases. That fee to freeze your credit can be ties and I found states Peru's highest twelve the track yeah but Equifax saying my lord we screwed this up badly we're not gonna charge you. The five now five dollars to twelve. Yet it is nice of them to he's not try to make money off do you after this happened they get I don't get a refund go to I was I was quick enough I can I would and so it. Does it seem like a strange Segway I remember back when Aaron Hernandez was arrested this is a strange say yes I do so. The patriots did they announced about a week players that they were doing agers betrayed. I had an Aaron Hernandez Jersey I threw it out before they can trade. I did the same thing here I reacted so quickly that I didn't get the benefit from the company. Well. I'll tell you and one of the things we did we we sent out a very detailed. Instruction letter to all our clients yesterday afternoon. And I'm trying to get permission to make that available to you are listening audience because. It was very hard these web sites were crashing we we I was getting emails and text messages saying hey I'm trying to freeze my credit and the web sites are crashing. Eight the there was so much interest yesterday. In freezing credit that they just couldn't get out from underneath. Yeah I'd be I guess all of their phone senators were just completely jammed Libby what by next week it'll start slack off. I would hope so and they they might have to bring on September helped us to get out get through this. Buddy the it's I I only had one listener who texted me and said I finally was able to do it over the total what you wanna do it over the phone don't wanna do it online at or they can't figure out. How to do it people had trouble with the web sites and so forth throughout the out there have been these differently you see what happens is if these web sites are somewhat. They're not built to be user friendly they're not that's where I've tried it in and really what they're doing is you go to freeze your credit and they try to steer you towards rightists. All you don't know you don't wanna credit freeze you want credit monitoring for a when he dollars a month and some incidental in no I don't I'm looking for the credit freeze thank you are right well well stated. Up next we will be joined by Rodney Nelson for Morningstar for stock talk I think we'll have one stock which is to be talking about one stock big textile talk about right stock talk is up next from the financial exchange radio network. Trump's administration hasn't passed any significant legislation yet but tax reform is front and center at 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 if this is the financial exchange radio network. Planning for retirement can be complicated process and I'd like to help make it easier this is very Armstrong from the Armstrong advisory group and if you've been saving money through and higher rate you should know that once you turn seven and a half who are required to start drawing from that account but how much should you take and where should you take affront if you don't take the required minimum you'll be subjected to a huge IRS penalty call my office at 803934001. Get my brand new free guide and learn all about RA MD's call 803934. Zeros or one to get this free guide and if you'd like we can also set up a free no wobble. The strategy call 803934001. For our new guide about required minimum distributions or you can download it from our website financial exchange show dot com. Securities are for two securities America incorporated members Jenrette SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. 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 -- 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 log on to leader bank dot com and sign up today this rate may change without notice that don't delay log on to leader bank 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 yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. Ski joining you here for a quick legal exchange tip and taught I wanted to talk to you about the east trusts. Do you in that 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 it and it's really not folks and and and and the reason is once you ask yourself that question so if you just have a will just ask yourself this do you wanna avoid probate. While the answers yes will not doing now atlas you don't own a house you all know if you're poor. Will probably some places could designate had no assets make sure you put like designated beneficiaries on your bank accounts your brokerage accounts. And you don't trust or are people that have passed it greatly 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 it if you if you want an ill will as the wall as it won't avoid probate it will reduce estate taxes you're right if you don't have. Anything you know the only need a million in mass to have a mistake though we won't reduce your state tax it won't avoid probity and won't protect your assets from the cost of long term care. That's a concern of yours so those are three Waltz that 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 the basics folks call Cushing handle and get their guide about basics of the state play. The poll number is 8668485699. And most of you prefer to. Download the guide immediately to go to their website legal exchange showed dot com it's legal exchange showed dot com to download the guide. For the month of September. It is back to the basics September time to get back to the basics legal exchange showed a. The financial exchanges lied on FaceBook and YouTube watch Barry and showed discuss the issues of the day and see which one smiles the most. Is who's the financial exchange radio network. Time now for stock talked with the Rodney Nelson of Morningstar Roddy thank you very much for joining us today. We're good we're talking here about oracle obviously this is one of the the tech darlings from back during the original tech bubble. And still kicking around here today. Haven't gotten back up to the prices they saw back in a way rather in 99 and 2000. But it's been nice run so far this year. Is there more room. Yet I think from a valuation perspective we think or collection looks pretty fully valued at this point. Become this golf undergone a pretty massive. But transformational the last several years if he were called for five years ago. Can be began a pretty massive undertaking to begin rewriting a lot of applications for cloud based delivery and obviously that's the direction that that software and technology continues to go and an accelerated pace. Other delicate job of of really migrate their business thus far but. The crowd really represented priest small portion of the business today it's only about twelve or 13% of revenue displayed in pretty rapid growth. So what many consider all those factors and can you can do the degradation of their legacy businesses like database and hardware. We think that most of the upside from the crop that is priced into the stock. What kind of business as you mentioned obviously there's they're going more towards the cloud it's been a major focus for them. Are there any completely new initiatives that they're undertaking. So one of the newer initiatives that day they announced the last year or so is me is they've. Sort of be reformed. Infrastructure as a service business which is David essentially and offering similar to what Amazon Web Services or Microsoft basher. Offers in terms of on demand computing storage. The big problem that we have with Oracle's strategy here is that we believe that this that these businesses require billions of dollars in cap back to build out this or capacity globally. In order to serve the world large enterprise customers which has always been Oracle's well. But the problem is that we really haven't seen it came ramped Oracle's capital expenditure profile the last several years to walk can be like Microsoft and Amazon. Are literally spending tens of billions of dollars to build out these businesses. Don't believe he Oracle's capital spent to profile an annual basis go from about one billion dollars. A couple years started two billion dollars last year in management actually expect that number to come down this year. So there's no Lotta rhetoric and a lot of lip service paid toward their second generation infrastructure as a service business. We really don't see the company really especially putting their money where their mouth is and making this making his business. Bible on a global scale so for that reason we don't he oracle really being a long term competitive threat to either Asher. Or Amazon web web services that in that burgeoning public market. There were one of the things that concerns me when I look at them is. It's a company that had declining margins over each of the last four years they simply are not being as profitable as they were that they're just not able. To compete as well it seems like to me is that a fair statement. They live there and there's puts and takes the margin profile of for a business like this it's going through a transition in the cloud so whatever. Software company migrated from its. Delivery model from on promises to the cloud. Is pretty big deceleration not only in top line growth but there's also with the precinct about their gradation in margins. I just because you're you're taking a lot of the cost of of actually running the software obviously together a bigger component the depreciation running through your gross margins. And because those revenues are recognized credibly essentially as he delivered a proxy can recognize revenues up from those customers instead of upfront. That create the bit of a drag and operating mart is also there are some moving parts to that but. The truth is they are moving into what is it lower margin proposition in terms of moving into the cloud and and frankly. It's your point oracle has had to be it. Incredibly aggressive on pricing. To win new customers both in its software as a service business. I ended its infrastructure service businesses will also. They are having to slash prices pretty aggressively compete. Which I think sort of waited in line with our our belief that this the shares are fully and we don't really see any upside. I based it valuation. All right Rodney thank you very much for the time today. That is Rodney Nelson promo Morningstar. Makes a really good short case. He does especially I mean this is a stock that's up almost 40% this it's a problem with technology you you you might think all it's ready to be shorted and then son of a gun he gets up and cook and in the lab and they break out some new technology and bingo you know lead and all of a sudden you're just aisle you sit there's and ops yeah laid I've lost a lot of money betting against Larry Olson over the years I don't think you're the only one who if he's he's pretty Smart guy. Well it out and you know you'll hear. As many negative stories about Larry usual positive stories color. But regardless of what you hear as it relates to his personality and not. Now he's sure been successful Joey 73 years old now I did it did 33 years young. And still you know goal and strong in and a very actively involved. You know in in that company that we're just north of sept sixty billion dollars to what is he worked just north of sixty billion dollars. I could. All right. Markets open I'll tell you at the unimpressed by the apple acts the market is not the stock market is saying that. Apple's stock is down two dollars and 38 cents despite. Their impressive launch yesterday of their new lineup of phones and technology. We sure appreciate you listening. To the financial exchange radio network. This is very Armstrong from the financial exchange did you know that once you turn seven Indian half you are re. Juries are for two securities America incorporated member finreg SIPC and advisory services offered to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917900. Or visit leader bank dot com. 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 traditional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member of the NC equal housing lender and -- is number 449250. Subject to credit approval -- -- a step ahead 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 -- 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 -- help you learn about the bare necessities needed to create -- a state plan but will also educate you on important items like how to avoid probate and passing your assets along to your family called Cushing handle -- right now what 8668485699. And ask for your free guide today that's 8668485699. You can also download the guide right now by visiting them online at legal exchange showed dot com proper estate planning is critically important to a safe and relaxing retirement so don't delay get this free guide today protect your assets and enjoy your -- years 866848. Fives. This is the financial exchange with Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day you're sick leave your world and stay informed and up today about the economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. The irony is not lost on me being new iphones are out they were delivered yesterday afternoon in terms of a launch. Which occurred at apple headquarters. And I was favorably impressed but the irony is shock was not. And Tim who are you know begin to limit the ad together aren't as old as him. Height of the old guy likes the new technology better than the young guys like the new technology. My unimpressed we're spoiled now. Let's say the it's the iPhone acts as well and it's called it's got a bigger display than even the Eiffel seven plus which I currently have. 458. Pixels per inch what does that mean it's gonna have a better picture we knew when you go to water to clear Leo. Will when you go to watch a video it's going to be. Considerably better than even eight which have 401 pixels per inch. And that's how you judge TV right it is and it no. That those pixels and a team of different what is that 1080 thing mean so it's it's it's not pixels per inch TV has certain number of lines of resolution and that's what you get but you don't get more despite getting bigger TV. Any. Big thing on it is it's gonna have facial recognition identification in order to open the phone I don't know. I think that's cute I IE I think that is a big benefit. The battery is going to last two hours longer than the iPhone seven plus battery that I have now. In the camera for those of you who have grandchildren. This is important Hugo that what do you do when you see your grandchildren take pictures of rank well. The poll on this new iPhone X is much better it's gonna have portrait lighting and you know you guys don't care those of us who our grandparents we care. And it's gonna cost about two well. The used car like if you want to 256. Gigabytes which you want because you want the faster processor but the increased memory. Communist world pictures. It's 11149. Dollars plus tax policy carrying case it's going to be expensive. Did you say tip that they glasses I am not to be of the break its it's host bill what's wrong it's later poll did that bits of maybe you don't have to buy carry case. Either way it's expensive I'm not sell now north of the thousand dollars for the grandparents are wrong around the world we unite to and we will bail out app don't have better things to do an immigrant parents are loaded. Right we've done pay into should get better things to do right now he vacationed with a thousand dollars I could build. I will build and I'll do for tomorrow is I'm going to build the replacement vacation instead of going out. And buying an iPhone next here's the vacation you can go. And I will we will do this tomorrow and I will cover exactly what you can better spend that thousand dollars you know what else the grandparents talked to the year rather grandchildren facetime and he uses them to do that on all your old phone number but do you get a get a better picture. Guess I'm telling you you're mother if you where if you would get off your wrong. And have some kids your mother would buy one of these films Hillary this reason your mother's not in a violent as you having given earning grandchildren. What's gonna stay there if it's trying to save the money you know not anyway I'm paying that twelve dollars a month now for Netflix. All right. We we need to revisit the issue of Equifax. Yesterday we spent substantial amount of time on the Equifax preach I hope you win out and throws your credit and no many view our. Continuing. To to work on that. I have created along with my staff the Emanuel. On on how to do that. Because so many people are struggling with the freezing of the credit and aides aren't these credit union there these credit agencies track. Are playing games are. They army if it still is very difficult if you go to their web sites to figure out exactly where you're supposed to go just because you've got rushing and you say. Odeon clicking on my credit freeze on giving example do so I I found this way I went to the Trans Union Webb's campers OK so I head over to Trans Union dot com. And I go over there an overgrown its okay when my looking for well I'm looking for OK if you're concerned about the breach click here I go and I click here and says learn more. And then it's you know protect your identity can monitor your credit reports ball while law. Finally you go about down to the bodman says about credit freeze please click here Nancy cook there okay. And it it you know you sit there and it says okay well. I don't understand the two options that are being presented to me they don't really give you a whole lot of clarity what they don't really want you. To freeze your credit no new date let's just call up and it is. And SE go to the Trans Union when he click on it. And he get a note that website is temporarily unavailable please check back later we apologize for the delay there web sites are overloaded by people who were doing this if you freeze your credit urine. For the agency's V disease that means all the sudden your lousy customer right they are easy that you you're terrible. They they can't make any money he hears the other question that I have bottles. So. People might have been considering buying a new car than maybe considering buying a new house. If they say no on two concern and I'm gonna freeze my credit. What does that do to people taking on new loans now all what does that and doomed the economy for the fourth quarter it's gonna tighten things up a little bit because you don't happen to lose. You go to buy that new car and you forget that you'd put the freeze on yacht taking extra week unfreeze it. Or you might say well you know I can drive missile card the 101000 right. By what you would throw with. What withdrawal would driving your car a little further. In the than you might play and anyway Tom still a lot of issues out with a Equifax I promise you. Keep and I here's what you gonna do keep an eye on my FaceBook page financial exchange on FaceBook and keep an eye on our website financial exchange showed dot com. Because we will at some point we will get that posted in new beaver comprehensive. Mean you'll on how to free credit. Massachusetts. In ever in no hurry to be number one will hit Equifax was the first state lawsuit over the data breach at Healy. Making it it's it's gonna accept it's it's extortion it's modern day extortion went really about extortion they did something that's like say like. They did something wrong is not a short you know why it's extortion not you're not gonna get penny of that money that's all sorts for I don't need a penny for penny of it you're and I need to make sure that doesn't. Happen again and you know the EP Vizio are morally money out of that she's just looking for headline. She she'll she'll extort him she'll extort money should get I don't know how much money should facts but whatever it is all the attorney general's Wilson let facts they'll get a check. They should butt out so well put the company out of business gives me some of that money. I don't care where the money goes I want it that you need to make sure doesn't. Happen again I'm more concerned about that in getting money out in this. Yesterday we covered the story about election by a pharmaceutical I don't know from pronouncing that properly. Alexion. Like I I don't know if it's election or Alexia on elect silent and elect elect on I am not sure anyway. Alan Xeon Providence journal today reporting. That the facility in a manufacturing facility. In Rhode I'll yup and it's in the polls yet that facility is going to be closing and you know what's interesting 250 full time employee gets a significant number of employees down in that area Smithfield and Rhode Island and actually seen the last couple years have actually been decent for Rhode Island in terms of employment they've gotten a couple companies moving into the area. And they've they've started just to turn that stayed around. They've got a I'm telling you they have a businesswoman who's a governor. And cheese. In Vermont is a nice job she Tess she's done his job there or venture capitalists she smartest tack and and a lot of people in Rhode round alike are. But I'll tell you what she's she she at least. Thinks like a business person that and much like Charlie Baker thinks like a businessperson who wanna know what it's like to not have a business person as your governor. Take a look at Connecticut. You've got governor Malloy who thinks like a politician and look what's happening in operative. Then people say they're perfect example. They're leaving Connecticut election is two to move to. To Boston. They I knew you'd be excited about this next story. All of garden is launching this year is never ending pasta passed with a 200 dollar trip to Italy. So pasta past maybe this is checks. Favorite time a year the trip to Italy sounds nice I'll give them credit where credit is due in but olive garden is not Italian food. 22000. Pasta passes. Will be available for sale to moral starting at 2 PM who spent 200 dollars. Again this is the company's Costa. As the company that refused to put salt in their pasta water because it sounds so bad I went and tried it I didn't it's not Italian food and I agree it's it is not Italian food it's it's not that bad. It's not Italian food. False advertising. If it ought it's affordable. It's you know it's clean it's not a talent servers are pretty good it's not a town for anyway. 200 bucks you see Iraq in a violence no no no no no they'll sellout in built they sold out in a second last year. A second that if everyone was there at the top. They they said they sold out in one sector last year by the time people got their merely everything was gone. On Wednesdays we interview business owners. Why don't we do that while we're financial show where business showed we'd like talking to business owners like Matt all of our he's from northeast promotion and apparel. If you all a business in your extending coming on the show and talking to us about the business you're running will interview you will put you on the air. And I have to do is go to our website financial exchange showed dot com if you would care to join us. For our weekly business owners segment which is coming up next on the financial exchange radio network. Margins continue to fluctuate but we've judge you've covered get your daily update on what time and what's not from Mike Armstrong every morning at 1030 boldly on the financial exchange radio live. Work if you worked hard and had success in your professional life protecting your wealth and your assets is essential to your ability to enjoy your later years advanced estate planning as many benefits and if you're like me you should want some sound advice on the best way to set up your state hi this is very Armstrong and if you're in need of a state planning council or perhaps you just want to take a second look at your existing plan you should call Cushing and -- at 8668485699. And ask for their brand new guide called back to the basics -- lets -- host of the legal exchange radio program will educate you on the basics of creating your state plan including how to avoid probate and estate tax reduction call 8668485699. To get your free guide today the law firm of -- and Dolan has been helping families protect their assets for more than thirty years let them help your family call now for your free copy of back to the basics at 8668485699. You can also download the guide by logging on to legal exchange showed dot com. If you're in the market for a small business loan you need to call leader bank if you were 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 lock for four years in a democratic rating of 700 and give you an answer within ten days of receiving your completed application. This is the number you need to call 8776917900. That's 8776917900. Take advantage of this great offer from leader bank a four year fixed rate loan of three point 99 annual percentage rate with no closing costs on loans of up to 150000. Dollars and you'll hear from them within ten days of receiving your application 8776917900. Call right now 8776917900. Member FDIC. This is very Armstrong from the financial exchange did you know that once you turn seventy in half you are required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their diary or they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% IRS penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&B rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our website financial exchange showed dot com. Juries are for two securities America incorporated member finreg SIPC and advisory services are there 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'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'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%. 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. The financial exchanges all over New England to go to financial exchange showed dot com and search for the station closest to you this is the financial exchange radio network. Every Wednesday we invite these business owner into the studio for conversations. About being a business owner what is it like to run your own company. If you'd like to join us in that capacity. Please go to our website financial exchange showed dot com reach out to my producer on the contacts section seems talker he's on his honeymoon but you'll be back. And we'll put on will put you on the spot and we'll talk to you about the company that you're running. Today is no different we're joined by Matt all of our he's from northeast promotion and apparel. And Matt thank you join us via threatening not to talk about northeast promotion and apparel and what it is that you do sure Maria where manufacturer. Capsules green and embroidery promotional products and apparel. Based in the mr. Massachusetts. And so pretty much everybody busy shipment who has need for. Apparel social. You've seen overture it's her or print insurance that type of thing. It's it's agree recession proof business and what when did you while winning the business start. We actually this is our tenth year ten years and his focus month. And it was this company that you started did you come in after the started to happen actually started I was I was thirty years in corporate America to come in and when you skating I did. I did. And after thirty years and watch my kids are not watching it is often leave my son when in the Marines I was told people it was a single parent government. Cut my last year business. Working incorporate a hundred and who aren't there recently that you really and said that's enough is enough for him. I had a friend that was in apparel business and he used to do while our shirts for us and went to business and I would go down on weekends and some of them and looking when he was one just fell in love with the business and industry and it's so different and so diversified. Want to compliment you because it's very rare you'll see somebody. Nazis and old to you by aid but it your stage of life. Do something this entrepreneurial most guys you go to the corporate world it's tough delete you know we we'll complain about it I'm an ex corporate guy too and you know unity be your benefits yeah health insurance your pension and you get your 401K and kind of get used to regular paycheck and then. All of a sudden you said honey I'm gonna roll the dice and become an entrepreneur good for you. It's exactly happened in net that first Thursday without action the FAA probe locally what did I do oh my god my doing great thing and in them there you know with ten years later. Some people surprised humid and yours I'm not because I've surrounded myself with fantastic people. Competitive business it is it is there's a lot of people who do we do not so much of the scale that we are now we were a lot bigger than most computers affect a big businesses line for. Compare that tell us about that whole web thing that you guys to the web service does that was sticky that's Phat fascinating especially for non profit organizations and and companies alike. Yeah we we live in lake or not we live in Hamza society. And people use to purchasing and we still have a brick and mortar store mean and I love that because people like to come in and seat with a line shortly samples and things. We do what percentage of your gross revenue does that present not as much as it should. Had gotten as much to cover the costs that they think it got the run but. So we decided that we would do this web fundraiser. It started out really small yup and it's now we've got a 146. Web store across the country. And it started as a fundraising programs OCU. Community organization. Youth sports group or you know. And you need to raise your Boston University via if you want to raise funds. You know on other days. The days so yup yup you know you have these groups that are opted these big national groups it. He sells like candy bar and keep you fifteen cents for when you sell it definitely gonna pay a whole lot of cant do much to do that. So we set up these stores where that that really cool thing about this is that the person who wants to run you picked apart you want. And you pick the price if you want us so then so can we do is we view let's say you want in this picture Fisher cost and you whistled for twenty umi ten bucks richer. So you've set the price we go looking at your overall business at this point you mentioned one of the things that gives you an advantage is your size how big are you. We do about it about a million happens sales now with twelve employees he got twelve employees right now and you do. All of the work in New England yet everything action is done in hopes of our facility and mr. told on in lemons is. And say all New England employees yes that facility how big is it. We actually just purchased in about a year ago opened up the than we release and then we we won -- in this building came on the market and it's a little bit under 30000 square feet and so you've got all of the I'm guessing you know silk screening machine embroidery and all that that's all in that facility there we've got 27 embroidery heads we have and automatics host green machine that depending on the job they're doing and run up to 500 church and our. Get and this as you mentioned this is a very competitive business I know what do you think gives you the edge to be able to succeed in I think it's it's more customer service than anything else people are really in tune to what our customers need. A big part of businesses first responders. We do we do a tremendous job with the fire department yup. And and the other thing is that we're very Philanthropic company we give back to the communities when you know after thirty years in in corporate America. One of the things I've said is if I ever do this on my own home and Cameron do things and and it's not going to be so much about oh. Me. It's going to be more about the people support from looking at that that that Philanthropic mission that you have. What kinds of causes you donated to in the past several holes it there's a pretty long list but give a couple good examples. Good friend of mine came Muncie approached me about five years ago. To work with delight as good playmakers foundation him truthfully it was up as good a short. The playmakers foundation is a group that gives money back to kids and it's really kind of near and dear to my heart to help kids in need help. And now over the past five years with the judging his wife penny running golf tournament that we've been fortunate enough to be very involved in. We've raised over a 100000 dollars and five years for the latest good playmakers on the. They have with with how you earn your company do you have any limits on either the the smallest or that you'll take the biggest is there is is their suites bodily take any order out there. You if you mine might give you quick stories Oka and it really sums up our business so. We about ten years ago we first started gentlemen came into store and he incher one teacher ordered. In most of the companies do we do. Wouldn't say. Quite frankly just what we wouldn't do in need to know doing so sort of went. So my idea my are. Fantastic. He took this person's logo and went to embroidered and this was. And he went to read it didn't change and it just cleaned it ended right. Officials of the customer came back and again we don't we just short street. He loved it so much he says this is the best. I've ever seen. Well. This turns though he was on the board directors what is now. Is it expected back. Although you never know who that person to go to Asia and yet adolescence that's what everybody in our business it doesn't matter who walks you don't know who that person is with us. Present treat everybody as. Your goodwill Matt thank you very much for the time we appreciate you joining us here today glad to be here thank you that is Matt all of Ari from what he's been managing partner from on north east promotion and apparel. Our taxes going up in Connecticut well you know they have a budget vote that is looming there's a large contingent. People in Connecticut that would like to see attacks increased goes through we'll talk about taxes in Connecticut next from the financial exchange for via. You've got Barry Armstrong. Financial exchange shall look I mean Cilic in new 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 we just make sense of leader banker Colin 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 diary or they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50%. IRS penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&B rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our website financial exchange showed dot com. Juries are for two securities America incorporated members in SIPC and advisory services are there securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are. Unaffiliated hi this is Derek strong with -- an important message for you and your family if you had a successful career and haven't yet taken the time to plan for your future now's the time to make that call Cushing and Dolan and senior partner Todd let's keep have been helping families like -- with their state plans for more than thirty years and he's got a brand new guide out this month called back to the basics it'll help you learn about the bare necessities needed to created a state plan but will also educate you on important items like how to avoid probate and passing your assets along to your family called Cushing handle right now at 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 Davis who's the financial exchange radio network. As Connecticut lawmakers prepare to vote. Thursday on a budget to close a two year three and a half billion dollar deficit. Some public sector unions are making you last minute lobbying push for higher taxes. Way out tell you what. And and I have nothing against unions they just. This would be the death they'll get Connecticut's already in a death spiral. Any of that company's move and out as quick music and you've got retirees that are moving the state as quickly as the yen and where they going to go to states that have lower taxes. In Connecticut you have excessively high income tax you have excessively high sales taxes it excessively high property taxes. I I think if the go follow through on this what the union wants. The state to do is raise taxes on people dividends and business income. Chuck I I've I tell you right now I I really feel for the state Connecticut and I think their rake in huge mistake if they take this. What did when when New Yorkers running and all their problems back in the seventies and eighties. Did they go through tax hikes at that point if her in so obviously you have to do something on the revenue side but. The big thing and we know this you have to have big putts on the spending side as well bingo and so you know I know that these union members have already agreed to. Up to about one point five billion dollars in wage and benefit concessions so they have given something at least or they have witnessed which is a big step in the right direction. I thought not painting the union with not bad brush your but I'm I'm telling you guys you cannot. But I'll I'll tell you what they could deal. It in this is to be very unpopular hugely unpopular. With they can do is put tolled roads. Indeed they should be holding 95 they should be tolling 84 a do it all that masters New York traffic TE should be pulling the touch. In and if you did that's right yeah you drive through Connecticut. It's it's a thoroughfare. Niger Rhode Island right on the big holiday is all that we think about Thanksgiving all the people that go for Massachusetts to new Yorker vice Versa and you know why they don't have tools right news and horrific. Traffic accidents at the all told you to tell me about the idea that people were dying off him maybe they had just terrible problems on 95. Is it pull every seemed like every five miles. So now with electronic poll right. You just do was put began trees operate over you don't Dabney booths or anything like that and win win when I drive from Boston to New York you're gonna get. Five bucks from me or it and went it will be unpopular are angry and ignores Connecticut don't complain about but here's the thing. Have to do one popular things at this point New York had to do them to you look at how good. The financial shape new York and now you would never know what had problems forty years ago the day here's the do we get around the unpopularity of you charge let's say you have a tollbooth in hand it to go over bridge in Hartford maybe tax deductible for state residents now you get you it's fifty cents if your state resident rate. If you're out of state it's about. Yeah you know lately that's the way you aid in May it be the other thing I think you have to do in Connecticut is. You've got a couple that tax increase which I understand tolls are taxes. But the you're. Think about just. Sit on 95 some time. And take a look at how many New York plates are are driving through the state how he played what do you up in their war on 95 drive and from from you know through Connecticut is probably more out of state plates and there are in state yet I think that the you could make it a a state tax deduction as well for in state residents and I know Massachusetts does that just complicates just make it cheaper poker and make it cheaper short. You know like I hum. I I'm famous for might incorrect predictions mean and sometimes that make predictions that. You know just for fun. But I predicted last week that Amazon will be coming to Boston. And I think it's on rumors are getting out there it is on the prediction board. And Jeff Bezos was in Boston last week we confirmation that when our listeners was in a meeting with with the Bezos and he any email. A chat with couple people that I guess Amazon's been poking around for. Any after remember this is a company that already does have a significant presence in Boston. If you go tickled to Kendall Square area that got close to a thousand people there and more jobs going in. You go up in any take a look at you remember Cuba systems the company that built the orange robots that now go in all the Amazon warehouse is yet that's a Massachusetts based company is well that's okay North Reading it's it's up and that that ballpark like somewhere is somewhere in that area. In their opening another office already in the C incorporated in that. They are in and I don't know 900 guys yet that they're going to be bringing on you know thousands of people the next couple years anyways and I think that the tea leaves are. Kind of pointing in the direction of Boston just because. What's ironic is a symbol won Boston because it's less expensive and less expensive than what. Maybe it was Seattle. Seattle must be out of sight tonight I think Boston utterly I think Boston's one of the most expensive cities in the country about the world. Ideology it's not as expensive as New York but it's much more expensive in Chicago too much more expensive than Miami much more expensive than Atlanta. Saw toward a more expensive than Toronto pump oh abductors Pittsburg it's a lot more expensive than the the only reason they would come here and the the the executives have acknowledged that they want these kids. The do Boston this is according to. Well I don't know what this is according to mean never heard of this website. It's called ex pat I stand I guess it tells people where you're supposed to live based on how cheap it is are expensive New York's the most expensive city in the country now okay. No surprise there San Francisco comes in about 4% less than New York. Boston their ranking is the eighth most expensive city in the country still about 15% cheaper than New York. Well it's pretty much in line with Seattle. This is a great story. If you own a home inside for 95 or in the Greater Boston area. Junior high age does a great story can someday you're gonna retire in your pride boo about that. If you're young and young family and you're trying to buy property you better get off your Duff and do quick because. Amazon comes into town at a not gonna hire 50000 workers. 150000 bucks in one year in the not gonna build this Condo and they will do it in five or six. They'll you need to take that long. Yet though they'll bring on 101000 people here. Think about the project it's a five billion dollar construction part wouldn't we decide the wind project was with two other wins two yeah being a thousand guys were yes he talked about you know probably upwards either thousand guys for twice as long where you're talking twice as many people working on the project we've identified two locations that they could go to you that you go to Suffolk. And that could go to it was a place and inner belt there in Somerville is any any any other rainstorms as to where they could possibly but the soccer. If you want to be Ian Ian right around the city. I don't you think it would be like a commuter glad that I wanna be there if you take a look up in if you wanna go touch further out than you could look at the Alston Brighton there. They're gonna look. War major Alston still has some undeveloped area that it you know Harvard was poking around and is due to big investment out there but. There's some stuff out that way if you wanna go in that direction we need a hundred acre strip. Other than that I'm trying to think of where else he could potentially go means southeast pretty developed at this point previously that seaport area would have been great when it was all parking lots you know it down with what I think could end up coming out of hundred acres would be major improvements made to the MBTA I mean here here's something to think about you know the old eyeballs you not hear me it just that you'd major improvements in the MBTA at a nice they like it don't you like 50000 workers you remember the the Boston Globe's site that was sold and that they're trying to fill out. It's not big enough. So we seventeen acres they get the fifth the size of what they needs that tells you how much space there looking for could buy it Santander buildings across the street. Would that be enough to anything in the Bayside at Bayside area bop a human ass you know they could you know would actually could do. I mean you could have them look over and Everett near where wins doing the building and it's crappy as far as traffic you would be terrible traffic allies they can fix you can fix that with in trains and buses and yeah he's after because he can't put fifty adult workers that you can't in its its just if it was shows your opinion change they like I eat when we're making the predictions would you say Lynette. I picked Charlotte Charlotte. At her word one about for a I haven't either but does. You know this could be a head fake to. Couldn't Bezos could be saying I am worried shouldn't Boston meanwhile there squeeze in North Carolina. No matter where they go they're gonna get a lot of corporate world and the problem that they run into in Boston. Is the space Boston is a tiny city geographically. 89 square miles that it would about the old state hospital area in Dorchester. Possibility here union point Weymouth who they would go to Weymouth I think women are are out they I think they wanna be in the city. Dorchester could have some areas that are attractive to them. You know that that definitely could be an area that they end up looking towards. But it's it's again when you talk about. See we have the right mayor to miss in Marty Walsh could you imagine on those and that five billion dollar facilities how many of those are going to be construction jobs. Labor unions are going to be all over this ashore it's I just I look at in so as an example report Seattle here and so Seattle is yet is actually about the same size only bet 85 square miles. But some of the other cities that you're competing against you know our. You know hundreds of square miles and Boston's only 89 is not a lot of space. Near that's an ally that's the biggest thing potentially holding them back. Pittsburgh. Actually start. Urban Boston's only 48 square miles daylight they they like the airport they'll. They do. And alta the end of the Logan is adding a ton of additional capacity jetBlue was snapping up for the next couple years they're going to be running on flights I think that's our that's good. Would you like to spy on your children. Well probably I mean you're raising. Oh you're raising children you need to spy I think this is one of the biggest problems we have in America actually know he'll see Sunday when you get off your rampant that some kids you'll understand why it's important spy him. Anyway that's or talking about how do we effectively spy on our children will be joined by Wilson Rothman from the Wall Street Journal. To give you a technology exercise. To help you spy on your children that's next from the financial exchange radio network. The financial exchange for Barry and chuck is alive on FaceBook and YouTube every morning beginning at ten days is the financial exchange radio network. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage yield this is an online product only and there is 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 east savings account that has a one point 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. Security suffered two securities America team members finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated. Vote on our daily poll question as financial extreme show dot com while you're there to fire of the media player and watch the show while you work. This case the financial exchange radio network. This segment of the financial exchanges brought you buys you read your land or take advantage as he read a fully automatic online rent collection tool that is free for landlords with an account at any participating bank and always free for -- sign up I have written checks deposited directly into your account call 8776917900. Today. We're visits he red dot net for more information I spied on my kids I think you should too. Trucks gonna talk to Wilson Rothman about how to do it. Now Wilson thank you very much for joining us. I was my first question so we're talking about kids in it used to be okay had the family computer and it was easy enough to check up on them. Now all of a sudden everyone's got their own phone everyone's got their own iPad how early are kids getting these devices personable. Well I mean they're getting their hands on them you know Indy as toddlers. And you know you. Yea I mean iPad or shared. Very commonly amongst among the smallest kid especially when they you know they talk about road trips are failing vacations or something where you. You need that extra fifteen minute to partake in the corner with the screen you know that's what you do so. And so what kind of technology is available to parents in terms of being able to monitor or block their kids from accessing content on those devices. Church there Derek couple different ways to go about it one of the things that kind of the the first wave with these child they've browsers where you'd know that appear iPhone or whatever to. Or iPad two to block regular browser. To the kid had to go on line with the with the child they've browser and that is yes simply like you'd like the worst enemy OP he did like a net nanny thing where. It's looking at all the sight they're there they're asking for it not giving them anything that would be any kind of a red flag and it's really just delivering up very child safe contents. But the newer technology to did the new wave is using its. The tools that that apple released for better products for for managing business. Devices. Where you actually can create. And you you configure your child device so that it can run all traffic. Through a virtual private network much like it a corporation to network. And that doesn't seem tingle went all the app and all regulated. These kids are going through the browser promoting stuff anymore they're going to Amsterdam they're gonna snapped at Purdue and FaceBook they're well they're not different but that's but. You know I mean. What what kind of process due to people recommend for actually putting this in place how how you actually go about doing it with your kids to explain it to them or do you just let it run in the background without them no. Yeah it's it's really a bad idea at Q puts spyware on dedicated devices. And then come at them later and say hey I can't you do in this or that. I can say spyware course either visit legitimate software but but but that's what it would be pretty kit do you know they'd be like whoa there's by enemy. What. I I talked a few expert on this topic and they recommend that you sit down and have. Are really Smart conversation with them where you treat them as kind of party to this negotiation. Now mind you you don't have to negotiated if you're equal partners in this deal but you used to negotiate because the good we have to. Of getting getting what you want as well as. Making the kids think they get what they want. You know you say would help me out and I wanna give you this device but I and I there are things I don't want you doing on that. What to we work out here what kind of deal going workout. Looking at the software that's available do you typically recommend. What is stocked with would you know that what comes with an operating system on a phone or their other pieces other apps that should be added on to do its. Well I mean if I would say absolutely dark with the restrictions. Android has them you know iPhone hasn't it. At apple called restrictions and when you go and maybe don't know about it you should really familiarize yourself with that go under the child device. Tap on the restrictions set up and it is not the same as the pin and unlocked device. It's something only you know if they find that pin and it's all over I'm and then you can really like filter to a lot of what's going on on the device. But if you want to monitor which is different this is just blocking went if you want to monitor. Then you would look to a company like custodial with predict QQUSTODI. Joke. Or circle. An award Norton family premier and these are services and islet that. When I wrote about distant and I think they're all. Good options. For getting that extra monitor you get a little report card every day. Saying how long McKay it was on the device and and what they were doing. Do actually offers free but it's on and on more recent device that only if you have been very recent versions of android. Good Wilson thank you very much of the time we appreciated today. I've read that is Wilson Rothman from the Wall Street Journal all kidding aside. You know me doing he talked about raising kids today. It's different you know the year a lot of perverts out there that the you know that are stocking kids and they they poses if they're thirteen years old and up and their. They're trying to do things to our young people that should be happening in. You know knee EU EU that is as a parent have a responsibility. To know what they're doing and they spend. 23 sometimes four or today gambling on their phones and always it is its atomic time and you know it it is something that just about every kid who's grown up in the last twenty years is that some kind of restrictions about what he can or can't do know when it comes to. Use of the Internet it it doesn't. You stick around forever it's not like you're watching kids once legal way to college and stuff. When the first picking up devices when they're 91011 years old and used them so young now UC. You know my night in and two granddaughters. I eat I used video to keep them entertained period yeah I downloaded some Fisher Price videos. And if they're cranky year from trying to get him it's taken now I can watch that for a few minutes calms them down. I mean there the kids are on you grew up on line in and it was like the mid ninety's when. It really took off of we don't really have full access until we are probably twelve or thirteen yeah that's different now you know maybe a full access chuck when the two years old and futile. What thank you all for tuning into the financial exchange today. Dow's up six points recipes down a point oil's trading at 4883. Per barrel. It struck a bear from the financial exchange.