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Full Show 9-27-17

Sep 27, 2017|

Full Show 9-27-17 by The Financial Exchange

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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 every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. The details regarding tax reform have been leaking out all morning. Hi everybody it's Berrian chuck and we're gonna share with you what we believe. Are the details related to the Republican tax reform plan. It's early. But. We've got what we've gotten we're gonna share with you. The documents that we're looking at me hey I wouldn't say their top secret I think there. Held by more than just a few people truck that looks like the corporate tax rate that's going to be propose anyway will be 20%. Yet talked and in what we're seeing is that it looks like you will see that corporate tax rate coming down. In that 40% range. And obviously that is a big difference from what we currently see today with that 35% corporate tax rate to make gave me a significant shift. In US corporate tax policy. I think some of the other details around what's interesting is still some questions about you know some of the other things that are kind of floating around as well in terms of one of the big things that where cargoes and pushing for immediate expensing as opposed to extended depreciation it does appear that that will be in there. Let's go back to the rate though the 20% rate you up if they're gonna do it 20% rate. That means they have to eliminate. A lot of the deductions. That companies may have been taking advantage of like. And in the offshoring of income and things like that that you know electric company like apple they've been offshoring income. For fifteen years and they've I think they've got more money offshore than any other company. You know what they're talking about doing is what's called aids deemed too repatriation. Tax that which even if you don't bring the money back in effectively. The money that is held outside the country would be subject to that deemed repatriation tax. And so BWAY company's ears scream bloody murder of that law it look if you wanna lower tax rate you've got to give something right you can't just say overall from 35 tortilla outside with. Ironic is a company like Wal-Mart pays 35%. That a company like apple probably pays 2% weird you know who the biggest pair corporate taxes the United States. I was gonna say it Wal-Mart CBS CBS okay CVS where where can they offshore there's probably have just hand you can't do what you're doing business in all fifty states can't get that money out there where is apple on the other hand says yeah we make these over here was and the profits to Dublin and then boom boom and there's no tax dwell on what they do is Acie Law the intellectual property is being charged as an -- they said at the shell company that currency up all the intellectual properties there and as a result ball profits and flow rate we're billing apple USA for that in that that is dirty pool a lot of what you look it. These big tech companies do. If it's you know it's it's legal. And it's a mile coastal Opel lake I agree right do they should be able to do it but it's it's legal now. Elimination of the Alternative Minimum Tax that's on my list of things that are supposedly a lot of people get caught up and amp T that have no business being caught in AMT. And so that's something that's going to be big I think let's go back to your topic of two allowing immediate expensing I think of something like baton. He about a guy who runs a construction company. Right now he runs a construction company buys that million dollar piece of equipment and machinery that he needs. He might have to expense that over five or ten years would have lifetime of that thanks equipment is up if he can write off a 100% of that now you potentially get a big jump starred in construction. And all kinds of spending on plants and facilities and things like that. You could have a huge huge flow of capital investment there and that's been a day. Drag right for the last eight years you haven't had capex that you would like pricey gift it's been something that's been missing from his recovery. This is unclear to me partial elimination on interest deductibility. Would be to corporations are. You know what we're what corporations are allowed right now so if you go an issue bonds interest that you pound those bonds is deductible and so. It appears that there's some chatter that you may see. A a limit on how much of that interest is deductible don't know it's going to be based on rate based on total amount we don't really have any clarity. But that's something that's no interest in the war yell. Territorial system with base erosion. I have no idea would base a room under the like I read that and like I looked out I I go there has been about forty minutes reading about and came away and I'm just going. You know I I don't know you know I don't know. Let's see and I'm just going down through the list oh. Does not call for the raw defecation or changes to this Vegas a talk about changing what 41 K plans. This would be whether or not on the employer side I'd believe. If both currently if you make a deposit into if you have a company match or something that that money you're able to deduct this would not change. Tax exemption for municipal bonds would continue directory and have that it. Retains research and development credits and low income housing tax credits yes that's good. Passed through maximum 25%. Rate on pass through and cities. With guardrail to ensure personal income wages are not Turco lost as profits. Good luck everybody's gonna become an LLC right when we tell you what kind of guard rails would you be able to set up like how do you say that oh this is not profit this is your income you know. By just taking like anybody who's in peace PC if you're an accountant unit one right here if your sole proprietor right now I don't. Why would dissent and LCO match at a point 5% to 3539. You'd have big employees go to their employers it's Alan renegotiate my contract right after the company and I want you don't play the company you can play Barry Armstrong in an important play Berry archer and you'll see. Boy I can't wait up LC after and that's what it does make me sound all all official wouldn't that be what you would do it like that's I'm saying like how do you potentially get around this lake is everyone's gonna set a company in their own name I I. Could actually be a boon for a State's revenue as we know mass cost 500 dollars to run that files the end of the year so it could be a boon for state coffers. Thought about the individual tax rates this I think you will folks. They'll be three individual tax rates it will be 12%. 25%. And 35%. As we understand it right now wouldn't seven. We've got six seven brackets and it's a seven rates down to 33. Right now the top rate. The top right now it's 43 point seven if you collect this surcharge and things like your on the terror attack yeah. Now if you bought your taxes that going to be doesn't go away OK so you want to put forward for Brazilian panels at 35 will be really 39 point six. Over the raiders for the he'll be like 38 point one or something like that. And then they're talking about it a 43 on the wealthiest bracket to be patently. Which will be added later. Garrett will it. To get some soda to people here's my thought went when I look at let's go through some of the other option yeah things are talking about doubling the standard deduction so to 121000 for an individual 124000 per couple and that's terrific if you're low income up. And if you're renting. Boy that's that's a home run does keep the mortgage interest and charitable deductions but calls for eliminating quote most other deductions now but if you're low income can't afford a house no wind there's your low income even if you have a house you brought don't have much of mortgage note this this could affect the elderly. I felt what you're not allowed to deduct medical. No right yeah that's that's a big shift as we know that as you get into your seventies and eighties medical bills pile all male and Sophie can't deduct those that something big. It or you know let's say you have a Kidder's got some medical problems you know Sydney get to duck down anymore you know it's a big shift there something big and here formal and kneels. Gorgeous child tax credit. That so specific supplies so we don't know. Repeal the estate tax repeal AMT. I come back to the state tax I get a yeah I don't think the end of repealing so. Where where I unloaded and they did that I don't think it will so what what's outlined here. The last piece that they're talking about is calling for state and local tax deduction repeal which use. The death knell on the coast so here's where I'm out right now is that I looked through this and I tried to piece together okay how do you you know what what's in here because they really want to in what's a bargaining. Okay the removal of the estate tax I think as a bargaining chip. Is it the state tax doesn't bring in a whole lot of revenue in a barely affects anyone affects about 5000 families the OK so the estate tax and federal level. I think I think it's just the bargaining chip for the the state and local tax deduction repeal I think that's a bargaining chip because here's why you've got fourteen Republicans in California okay. You think those Republicans are gonna vote. For getting rid of the ability to deduct California State income taxes no they would get destroyed or what about the Republicans in New York the ones in Massachusetts the way in New Hampshire where you have high property tax. All of those Republicans are gonna sit there and say no way you you can't do this August slaughtered. When I go for election next year so there's certain things in here. That our bargaining chips in their clear. What I'm trying to get to is what can actually acts as you've got four constituency congress that you effectively constituencies that you've got to deal with you've got. People who were elected in as part of the Tea Party wave percent I'm never gonna raise taxes okay. Going to be a little tough for them to be able to say yet you're in the 10% bracket now we're gonna raise your bracket to twelve when I get that you may lower taxes with the additional deduction but that's a tough. Tough putt there is you can get rid of that deduction easily. You've got the populist point okay populist going out there wants to raise taxes on the rich this doesn't do that. OK so how do you satisfy that base. You've got as I mentioned your blue state Republicans people in California Massachusetts. How do you end up making sure they don't get voted out of office a year from now and then you've got your stabs and Republicans who wanna cut business taxes. Where I come to is I think that. Corporate tax reform. Is more likely than personal this mean. And I think it's easier in it doesn't have any optics that people see. Right off the bat it's not something that people see all of these people are innate I I can tell you Turkey and see if we did a poll on you know what's more important everybody votes and they say I want personal tax for four I'm with you on this. I don't know feisty a path to getting it done with the way the house and and the senator structured right now. Well what are your thoughts on the proposed tax play and you can participate in our poll question by going to our web site financial exchange showed dot com. Do you like. The proposed tax plan I'm not sure I'm not sure he. It's you know we remind voters that it doesn't happen. You don't think yeah I don't think on the personal side the tax reform gets to on line that's ahead on the corporate side canned that's going to be very disappoint them the more I've looked at the personal side the more and especially it's not just what I've seen on the personal side. It's what I've seen from Republican leadership. Have they shown any ability to get anything past good health care. Couldn't they couldn't do the debt ceiling even that's been that was a Democrat deal emulate that they couldn't even get aping squared away on that now what have they been able to do want their row. Now nothing. Not a thing. Are up next we'll be talking about speaking of not being able to get anything done. The lack of a vote on the health care bill and will be taking an fresh look at Puerto Rico that's next 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 break 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 a state 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 Titus is very Armstrong and if you're in need of state planning council or perhaps you just want to take a second look at your existing plan you should call Cushing and Olin at 8668485699. And ask for their brand new guide called back to the basics taught lets you host of the legal exchange rate. Program will educate you on the basics of creating your state planned including how to avoid probate and estate tax reduction call 8668485699. To get your free guide today the law firm of Cushing handle it has been helping failed to 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've been doing business with them for years because they're always coming up with great deals they've got an. They're one Betty surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. 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Yes so you know for first time home buyers what we are telling men are couple things one be patient. Yes you know we we see a lot of first time home buyers who are making five and fifteen offers 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 others have to U. Paying more than the asking price and a yeah it is quite common right now in and in some cases are actually having to to research other towns and rooted in considered first because. You know it's very pat can't afford their dream home exactly. I'm getting we're telling first time homebuyers to really be aware. Of all the mortgage products that are out there that are relevant to tell us about this leaders thirty yes so we're really excited about this product we just launched it is cult 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 lower your interest repayments by one person that's very helpful offer because what it does is gives you break during that first twelve month period exactly so gives you little payment relief for your moving expenses but you still have the security of a fixed rate mortgage. Would I bot. A hole. And when I've refinance my properties have always used leader bank near terrific bank you can call them told free. At 8776917. B 900 or visit them online at leader bank dot com to learn about their mortgage programs. 8776917900. Liter bank 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. Advisory services arbiters securities America advisors think Barry Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated. Get the most comprehensive weekly economic update from CNBC senior contributor Larry Kudlow every Friday at 1045. Only here on the financial exchange radio network. So the senate is not going to be voting on a measure to repeal. Obamacare. You need to revisit this next year would it would they do is dead dead dead but we'll move for the record I also called us on Monday you did did. Puerto Rico airport has reopened. But distribution remains so so here's what's going on in Puerto Rico they can get. Goods and services to Puerto Rico. In get it to the ports but the road circles literally. The roads are littered with treaties. Wires. Yes I was in the middle roads in some cases bolts in the middle road out. And so the humanitarian crisis you're gonna read more and more about this because what's going on down their track is. There's no air conditioning. Your roof may have blown off. We saw the pictures of Blake the the apartment buildings were the entire walls are blown off the people are sitting in their living room just completely expo today they're exposed and now we've got a standing water in the mosquitoes are gonna breed. And you're gonna have all kinds disease problems you are and they've they've got shortages in medicines they're saying that in other running out of antibiotics and basic things like that they need imagine you're on the western end of the island. Yeah I mean this this is. I'm trying to think in the last like twenty years thirty years there's been a greater humanitarian crisis in the US territory. I don't think there's certainly hasn't and if the only you'll be closest Katrina and I don't think this this could be worse this will be worse and more people will die just because it's it's an island you don't with the treaty could get people out of there righty with an island. You know if you were eat if you're lucky. You might be of the yet what 101000 people a day off the island. Maybe Tony lake that you really put an effort into it even if the where you put those people write it and even if we do now let's say get 101000 people a day. Still can take you three months to get a million people off the island right you think about how bad things can get in three months with no power no water lake. This is as bad as it can get well Ali there're they've got the Marines headed down there and the Marines are landed on different aisles yeah I know that that release will. Re install law and order a big problem they have now we've got gangs roaming the street right it you've got beat the looting going on it's it's just made him. Absolutely speak it's about as bad as it can get down there. Massachusetts. Is trying to lower Amazon to make their headquarters here. And at the same time they're suing them. Is that interesting wouldn't it like. I don't think masters is wrong with what they're trying to do. So what they're really they're sitting through the department of revenue in what they're saying is we want proof of tax records. But it's still it's it's bad timing it is bad timing and did look I wouldn't be surprised BC deal worked out where it's a will drop the suit if you come to masters like. We've seen things like that happen before what masters is doing so Amazon does collect sales tax on items that it sells right now through its web site remember that there's also we called Amazon marketplace were other vendors list their goods on Amazon site I don't I know whether it's and other vendor when I'm shopping to really good question actually it's you do have to do little bit looking around on the web site but superior do you go to a different website to design and Amazon no there are I'm it's all on the website so let's say that I go and I just typing teachers this is the first thing that came to mind. If you go and you see that an item says it's okay and so let's say that you clicked on an item and I'm cooking on Warner announces Haynes men's comfort soft teacher okay. If I click on that item. And I scroll down and it says it's being sold by Haynes and it's from a third party vendor if it's as being sold by Amazon coming from Amazon why would Amazon and let something be sold through third party vendor when they have their own prop. Will keep my Amazon doesn't necessarily make any of these products ends ends up making teacher Elaine stand ready they quietly like I've just thing here is if I'm an Amazon stockholder. Why would I let somebody sell something and I'm not making money is it. Will they do awful that they've they make money on the sale still. And the thing is Amazon doesn't have to deal with distribution nice. So it's not so they don't even ship that. They don't have to pay what Amazon offers is what they call fulfilled by Amazon where Amazon will handle all the shipping and all that but otherwise it'll be a separate company that's handling all the shipping and saying hey we're just listed on Amazon and mortgages. Be able to sell our goods there will be to our barometer well. At a we we don't have any news on them coming to Boston ray is no. Or anywhere in New England not yet the other final bids are expected to be done on October 19 that's when Amazon says that the bidding process will be closed there. But it is us or about a month away about three weeks away from the bidding process closing I would imagine it will have a clear winner picked by the first quarter next first quarter of 2018. The United States is slapping a big tariff on jetliners coming from bombardier the laws and here's this is not good. Well he's sure not good for bombardier. But it's not better it's not good for bone I don't know if you saw the response to this but the UK. Said that they made this man of jeopardizing Boeing's UK contracts. Due to what these would do these tariffs being put in place in the dispute between bone in bombardier. Lets you what I was gonna remind everybody use Canada. Is a big purchaser. Of US products. And so would it would regardless of what the United Kingdom does I can assure you Canadians are gonna say OK well if you wanna ship. Technology to candidate we're gonna tax and and we buy it can't Canada buys a lot of medical devices they buy a lot of computers. The high end manufactured products are purchased from the United States. Well and here's what I find somewhat hypocritical about this entire thing the entire thing and what the international trade commission is doing here. They're saying yup did the note bombardier is illegally subsidizing their planes production. Do you think that were not giving subsidies to Baldwin we're about Airbus. Do you think lake. Do you think that I mean like think about what what Washington did to keep bowing in that state are a couple years ago when I was a state not a federal government still like I mean tomato tomorrow like at the end of the day can I can say it will look. You're subsidizing bone plains oh and they will and they absolutely will mean. This is but that's how you run industrial policies you say look this is good for us to do and because we can have a bigger market. Coming back we're going to be talking about which industries are hiring in which industries are not that more from the financial exchange radio network. Making your Smartphone even smaller here don't go mobile lab by surging financial exchange shelf in iTunes or those who who played stores. This is the financial exchange radio network. This is a special announcement for a landlords chasing down only rent payments and making trips to the bank to deposit checks ticked 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 duds he ran dot net to learn more we see rent your payments for each unit to receive regularly on the same day remote tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot meant to learn more or call 781 at 6418691. This is very Armstrong from the financial exchange did you know that once you turn said Indian half you are re. Juries are for two 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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They have more legitimate charge caused huge news but Twitter is testing out basically pat being the number characteristic can use in their tweets so currently wants forty doubling that to eighty. The stock that you reacting to this I don't they think that it's a huge game changer to stop the stocks up one half. Percent you know important keep in mind how poorly the stock has done the last few years so. I'd be people just kind of grasping at straws here. What about Nike what are we seeing out from them today no they're down about 4% how come. Yeah they are they think it should be you don't Q1 earnings they have earned seven cents a share vs mark has been anticipating 48 cents a share a prominent being the only we need these do pitcher Matt and over there expensive across the board they did see at the slowest quarterly sales growth. In nearly seven years and that's what investors are worried about here is just the increased competition. The closing a lot of a lot of retail stores and how key is adapting to this do we the people are shopping. Very good thank you Mike. Mike Armstrong with Wall Street watched given the trouble that indeed this is in. Does that benefit Nike. Is it is is that being overlooked by the market was the one thing that you always have to remember so the by trouble of these in you mean with the cult basket now off though the whole NCAA or do you think Nike's ended up to their active. Com one of the people arrested at one point at least I know had worked for a Nike so I. I don't know I mean it's generally with basketball if one group is doing it you tend to see a lot of the other ones twos so. I age will cover that I or ideas and I know that I don't mean that story is that right now. Hey if you're looking for a job. Of boy eat these major industries let me tell you wanna stay away from. You wanna stay away from mining. We'll stay away from real estate which I think is interest thing. There what do they mean real estate sales and real estate market gymnast and a short might be back and stuff from not. I don't know yet cutesy real estate sales weaning I I you know that it that it is not many properties. One bottle that I think that model they ate some and fundamentally wrong with the rules that. Into the house so. You know the the realtor. Is really incentive to sell you property right and in knee you know as I want. If your cellar you want that that if you're a buyer I'd I would like a more fiduciary relationship. What when where I say look this is my price range these towns and interested in what's but he typically say to broker. The Abbott V you may say it is the consumer to the broker but remember. Like get the person that sold you your house is and if they sold you a house that they have listed they make twice as much. As a commission as they they suddenly say house I don't care enough. And I anyway. Real estate profession that you should go into. Media guests it's too late for us but media is another business they probably especially radio media. Ali you just think about media puts so much of it is changed it is he think about I was looking access subscription numbers. Unit maverick talk about newspapers the field day yes EP at least actually buy a physical newspaper yet. You know now that the Boston Globe which used to so talking about 400000. Newspapers today. Now has a 100000. Digital subscribers. On a daily basis. Ultimately they get that op rating get your digital subscriptions up it's probably more much more. Profitable and an overall print revenues so if you go back to right around 2000 print revenue. Peeked out around 65 billion dollars. Any idea what it is today all this say fifteen billion that point twenty billion. And it's declining and it's still going down it'll be ten in the next couple yet it's never gonna go is never that trend will never reverse its no you never know agencies. That it's gonna be the way of the horse and buggy. But so where where are the jobs give a kid going off to college should be thinking about this you're paying the tuition bill Laurie where it would which should you be looking at studying. Health care's obvious are a lot of jobs health care anything I mean obviously the the high and the doctors and the nurses and so forth but even. You know one of the areas that we talk about a lot of hey how do you care for this aging population physical therapists you know those physical therapists the what's the other one occupational therapists things like that I mean there are definitely ways physical therapists I've newfound respect for that perfection. Unity beat what they can do for you is nothing short of Amir. Unite he think about like if you're suffering a licensed chiropractor. Oil in Indy. I just like the way they practice I hadn't had a lot of experience and so was injured. And I injured myself this past winter in the and I started going to physical therapy. It's like a miracle cure which they can do this when you lost in tennis to the eighty year old yes it may be 84 1984. You know why yet you know what is. The U you if you back pain. All you want is relief and I had Dario bad back pain and physical therapy the big top hat stretch. So anyway I think physical therapy is C a great profession doing nursing obviously we talked about the wages that are being paid. Two Bachelor of Science registered nurses that are working these hospitals remain in 120 current year I'd push more people towards fiscal there because with nurses you do see a high burnout rate similar to doctors just because it's so demanding in the hours are tough. And with physical therapy a lot of times you have much more regular hours lot of demand in transportation. And logistics. I'd be a little worried about that I was in that profession because I'm thinking. Okay yeah right now if you can drive a truck. You can make a pretty good wage there is demand for your services yup if you've got to clean CDO. And in you can you can drive especially if you drive some of the chemical trucks. Oh there goes those guys are make and I was there is some of the wages as it is you've got lake Hazmat and stuff like that you can be up around a 100000 dollars a year ago so. Did they're saying it there's a lot of job openings in that area. I wonder how how long those job openings are beware yeah and it's news I agree it's you might have a job for the next five to seven years out but it might if you're 25 and looking to get in that business it might not be a 25 or thirty year career if you're the only your fifties you Sam I'm driving a truck right now my okay. Probably you know but if if you're 25 and saying this what I wanna do. And as we care and nursing school have be respectful. Of becoming physical therapist yes. 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You have to be parolee to the trough because whoever's early to the game seems likely get the lion's share of the call treatment. Yeses and things that you can do first and foremost just make sure you've got your taxes done early to have not done you're not going to be able to file because you have to have the data BO available in order to file that perhaps a form. Steve got have taxes done. Number two in this one I'm not sure that I necessarily agree with it's called priming your assets so. What colleges do they look at your available assets and say okay you've got XY and Z can you afford you know it paid dollar value LA and so what this is saying is say. If you want to reduce your cash balances by paying down debtor pre paying bills and it's not a bad idea why don't want people to all of a sudden take their whole emergency fund. It toss that into you know paying off debt just because now all sit you sit there without an emergency fund Canada. It it's kind of robbing Peter to pay Paul in that doesn't make a whole lot of sense to me. If you have excess cash. OK can understand that but how many people really have excess cash these days. And lastly. Get all your paperwork together it sounds basic but you know I can't tell you how many people. Don't have copies of the statements they need they don't of can't remember the kids' Social Security numbers and are digging around for them you just have to have all that on. It organized you do you're gonna ask you hundred questions. And you better have the answer every one of them every single one and don't tell line because caption it well. 86% of families filed the facts buster. Do it just because you never know what you're gonna get. But there's a high number in unity and that means. Thirteen 14% saying I've easily and Paul why and could also be thirteen 14% just. Don't know how to file form you know the rule is definitely people who you know don't know what they're supposed to do and so forth so I think money Mike left on the table as they don't know. How to do. Save this story Tucker is a news and drive chock. Oh boy which one par bird takes top honors in the Wall Street Journal THE college rankings and I got a tight. I kind of wish they had one nerds. I I kind of wish it nerds the only reason the anguish harbor nerds into you meet somebody from Harvard. How long does it is totally take them to tell you about six seconds nerds. Hi Tucker my name's Barry in Iowa to our word yet it's like unbelievable. On Dartmouth takes about twelve seconds but still. Let's go through my disciples disagree completely. Our Harvard getting to top ranking Columbia. Number two analyst little surprise as the president MIT coming in number three Stanford tied for number three Duke University number five Stanford is is that considered in ninety. No it's not in the Utley and Nelson packed packed and it's just as good news. You know yeah I do Sonata and I've either no dukes ACC you can make a case that both of those schools I mean again there you talk about top five schools. Cal tech I would argue should be higher numbers seven. A minute into Yale. But Diaw did you view is number six deals on. Pencil you University of Pennsylvania guns any. Princeton number nine Cornell number ten I take the you'd there's very little difference. If you look at the ratings is very little difference between number one and number fifty. Definitely key EU if you're going to that fiftieth school it's too darn good school. I would make case the Dartmouth you actually get a better education and any of these that JC area here it goes Acker I'll tell you why they don't break and I'll tell you why they don't rank aside you know how the rankings are done. One of the big things that they take into account as the value of research grants that each school gets in because Dartmouth does not have any real grad programs. They don't really get any of those research grants coming in at that level and so because of that. They're penalized wears you get a better level undergraduate education if you don't typically have TH you have actual professors and teaching in which he had value when they're good professors and I will tell the professors are just about as good as it gets Dicey one of my former press professors on Bloomberg and CNBC all the time the idea that life by David blissful hours spent about five years the Bank of England he was my kind of match profess. These he's pretty bright Smart guy. The top schools for resources. Cal tech. Harvard. Masks MIT. Princeton northwestern what school show it right universe and you know rice's second race of very good school. Am I haven't nephew. Go there at Columbia has got to drain you upon the University of Chicago U Penn. Brown Cornell and yet you nobody who if you look at what's amazing. If you look at the top 100 schools in the cut need to do this its online as you just go to the Wall Street Journal web site. You look at the top 100 schools in you count how many of them come from the six New England states votes on its remarkable at your homework assignment Tucker. I'm ready Debbie I billiards or you're trying to get out of this through our dads that are righty added yeah. I wore be joined by DNY. Selleck from Morningstar we have to stocks grab a pencil paper stock tock is 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 and this is the financial exchange radio that. Work 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 to our record. Choir to start drawing from that account but how much should you take and where should you take it from if you don't take the required minimum you'll be subjected to a huge iris 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 obligation consultation to review your investment 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 offered to securities America incorporated members SpinRite SIPC and advisory services are for their securities America advisors incorporated Barry Armstrong represented their Armstrong advisory group in the securities America companies are unaffiliated. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking -- 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 that don't -- log on to leader bank dot com get all the information about this great offer and sign up today before the rates change yet. Free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. And taught I wanted to talk to you about 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 important and in your right and people are so confused that commends say. I have a will lies they plan is done. With 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. Well the answer is yes will not doing now Adler you don't own house old nothing if you are more. Will probably spices it could designate had no assets make sure you put like designated beneficiaries on your bank accounts your brokerage accounts. And you don't and trusts or are people that have accents 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 a wall as it won't avoid probate it won't reduce estate tax is your right if you don't have. Anything you know the only need a million and asked to have an estate tax though we won't reduce your state tax won't avoid pro but it won't protect your assets from the cost of long term care. That's a concern of yours so those are three Waltz that will will do so I think the answer to the question is yeah I think you need more. There will most of the time. Time to get back to basics folks call Cushing handle 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 and it's legal exchange showed dot com to download the guide. For the month of September. It is the back to the basics September time to get back to the basics legal exchange showed a. The financial exchanges live on FaceBook and YouTube watch Barry and showed discuss the issues of the day and see which one smiles and the most. Is it financial exchange radio network. Time now for stock talk here on the financial exchange Dan was elect from morning star joins us and Dan thank you for coming on. Dan let's start first talked about Expedia obviously most people familiar with the company it's point one billion dollar behemoth in the travel space. You bullish or bearish on the right now. We think there's an opportunity here you know XP is pulled back from about a 160 per share at the beginning of August to now under 45. Our fair value on its once at least five but we see Expedia has been a high quality name in a large travel market that's one point four trillion in size. Yeah I'm one portion of which is drawn about how percent and we think Expedia given their network advantages going to continue to grow share not market place. Would see what what's the big advanced they have is just the scale they've reached at this point. Yes skills definitely has something to do with that but when we talk about the network advantage as they have what they've done is they've accumulated. Nearly 400000 traditional tiles and then I have another one point five million a vacation rental listings. That takes time to used to aggregates and that's six cost aggregate. And because they have that type of content they get about a 150 million monthly visitors to the web site which is far higher than the largest hole teller Mary apt. I think it's about 35 million monthly visitors to its web site. So question that I have Bakken 2015 they went on a little bit of a spending spree they bought travelocity Orbitz and home away. Spending about five maybe six billion dollars over the course of the year. They haven't made an acquisition acquisition since that is there anything that's potentially a target for them to buy at this point. Yeah I mean those acquisitions we we like them some key sickly because it built out there international presence and verification rumpled presence that is. Base which you know they needed to kind of don't want. You know I think with we can expect going forward is some additional partnerships or maybe tuck in acquisitions and international markets because. Based only get about 45%. Of their revenue from international markets and that they have talked about wanting to expand that over time so. And those are the faster growing markets vs the more mature US markets I think that's an area I would look for. As far as some potential continued emanate activity in the future. How oh how much downside is they're potentially if you see travel take it dipped for them like I just. You know I think of airlines an airlines are so leverage that when. You see bad times happen. Airline stocks tend to struggle quite a bit is Expedia set up similar earlier is that not the case. Yeah I mean they are exposed to GDP growth but there are some offset so to which one is there in the secular angle here that people need to be aware of there is continued I'm penetration so right now we talked about that total travel market at one point four trillion. About 40% of that is being booked on mine but that unlike penetration has been increased about one and a half to two percentage points per year so if the growth of the travel market were to do it because of recession they would be impacted but if it would be offset somewhat by the secular. Online penetration. Arm but you know they do have exposure there. How concerned are you about competition from. You know other companies in that's in in this space specifically you talk but the biggest company out there Priceline. What are they doing in terms of competition would them. Yet we talked about critical mass scale I mean Expedia Priceline haven't. The Expedia and Chrysler together have about 75%. Share of the online travel agency market. So really competition that is smaller than them they don't have the marketing or technology. Expertise and skill to really compete anymore with these two became just. Examples orbits who was a number three global online travel agencies they no longer compete given their size and so that led to the acquisition of some by Expedia but. I think we're I am concerned longer term potentially is that. Platforms that have a lot of mostly traffic such as FaceBook and Amazon. And Google both our potential competitive threats to be a monitor and keep aware of in and being you know increased competition for Priceline and Expedia. Very good Dan thanks for the time. Thank you Dan was elect from Morningstar talking about Expedia with a ticker EXPE. Derek. There are formidable. Competitor. There are I mean I don't use and a ton anymore necessarily just because I've found better deals by going to. Individual hotel or airline sites now a lot of airlines tried to fight back in hotels try to fight back a little bit then but there's no doubt diffuse kind of via browsing around their phenomenal resource into a lot of. Able dues used it as a browser and then they end up going to American Airlines and booked the tickets to I agree right. B market was positive they just turned into negative territory the Dow down 26 points NASDAQ is up to 28 points. Crude oil summit but got hurt us pretty over 52 dollars a barrel 5207. In gold down fourteen. And it's. We'll be right back to company to achieve greater. This is very Armstrong from the financial exchange did you know that once you turn seven Indian half you are record. Required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their diary or they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% IRS penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&D rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guys at 803934001. That's 803934001. Or you can download it from our web site financial exchange showed dot com. Juries are for two securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. 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 8776917. B 900 or visit leader bank dot com. Your dream home is within reach with a Jumbo mortgage loan from leader bank their Jumbo 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 liter bank's local underwriting processing teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member FDIC equal housing lender and Miller number 449250. Subject to credit approval leader bank a step ahead. 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 yours with their state plans for more than thirty years and he's got a brand new guide out this month called back to the basics it'll help you learn about the bare necessities needed to create an estate plan but will also educate you on important items like how to avoid probate and passing your assets along to your family called Cushing handle right now what 8668485699. And ask for your free guide today that's 8668485699. You can also download the guide right now by visiting them online at legal exchange showed dot com proper estate planning is critically important to a safe and relaxing retirement so don't delay get this free guide today protect your assets and enjoy your elder years 86684856. About higher -- And more specifically we're talking about required. Minimum distributions. Chuck when you hear that frees. Invariably. Somebody you'll kind of have this blank stare in their face because they don't know it's very hard to calculate how much each year you are required by law to take out of your individual retirement account. Yet the way it works is remember that you get a tax deduction every year when you put that money into the IRA. But eventually the government wants to get that tax revenue and so what they do is starting at age 79 or seven and a half. They require you to start taking money out of your IRA and it starts off as a relatively small now but the problem. If you don't take that amount out when you're supposed to. There are some very significant penalties that you can end up paying and by the time your eighty. The money that you have to take out the percentage that you have to take out of your individual retirement account is a lot more than it was at seven. It grows every year so it starts off at about three point 7% that first year and it grows when you get India mid eighties starts to get to the forwards seven or 8% so it does grow significantly in you have to be aware that that number changes each year. Just a suggestion here but folks you might wanna call Armstrong advisory group and receive their 2017. Retirement plan distribution guide the phone numbers toll free 800. 3934001. That's 803934. Zeros or one. For those of you who want it right now. We can dot download the guide by going to our web site financial exchange showed dot com that's financial exchange showed dot com for the 2017. Retirement plan distribution guy. I'd securities offered to securities America incorporated 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. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency can't guarantee by the bank and may go down in value leader back. A step ahead this is very Armstrong from the financial exchange did you know that once you turn said Indian half you are re. Juries are for two securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated your dream home is within reach with a Jumbo mortgage a loan from leader bank they're Jumbo loan program designed for financing an excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by a leader bank's local underwriting and processing teams traditional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 44950. Subject current approval leader bank a step ahead. 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 -- savings account providing free online banking with a one point 15%. Annual percentage -- this is an online product only and there's no minimum balance required so -- -- to leader bank dot com and sign up today this rate may change without notice that don't delay log -- to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new east savings account that has a one point 15%. Annual percentage -- and no minimum balance and remember this product is only available online so logon to leader -- dot com right now its leader bank dot com -- -- a step ahead. This is the financial exchange with the Barry Armstrong and show Oksana. You're exclusive look at business and financial news affecting your day UC. Leave your world and stay informed and up today about the economic and market trends plus get breaking business news every day it's. And now the financial exchange with the Barry Armstrong and chuck saga. Loan debt has been an obstacle for many potential homebuyers. And I got home manufacturers trying to do something about this idea first of eight and I don't mean to pick on Poland and I've it's very John. I don't mean to pick on millennial initiative delight my generation also had student loan debt. That is and glass houses shouldn't throw a stone and what we did it. And I just I don't care what I don't know if you wanna go down this path I I just want to share here guys that don't you know if you wanna go down this path why don't you guys get second jobs. I don't know about the baby boomers when we were when we're 23 years old and we had like student loan debt. And I said I can barely live on my salary so I used to work habits and I used to referee sports wasted via hockey refereeing I've been a lot of money to. A cut in today's dollars tuition for one year at a private college when you went what you're to graduate. 1984 a camera look back at 73 okay in 1973 private colleges in today's dollars. Averaged 101000 dollars a year. Public schools where about 2000 dollars a year in today's dollars those are inflation adjusted. Yep that's consumed with citadel we have to go to the best in the private in Indonesia but we don't want a good OK unless it has a nice Jeff I hear it wanted to without a doubt and should not won a nice dormitory and Jim and MGM it's gonna act in and we mean I don't have Internet service. Went to college so here I saw your door I'm gonna cause like I got a couple cinder. I've got a couple questions for in. Did we buy the participation trophies for ourselves. No did we decide to sign off on sending our kids to a higher price school no. Did we decided that we were going to take out two and three mortgages in order paper vacations and no so. You guys drops off all angles occupants all know is that the baby boomer generation has caused more debt. Ruin the perfect situation because more problems for this country. This one. It's still blamed for everything we're the ones that bought the huge suvs to get extra mortgage we're the ones to the participation trophies we get blamed. For our parents failures and there's our mom and dad tough. I was I was a lot freedom handle it there. Anyway Lennar. And Eagles either home construction companies what they're doing. Is they're saying hey if you buy a brand new home for us will give you thirteen thousand dollars towards student loans. That would be a federal what you term I think that they truck. Already owns a house that's a big move I I I like this. Smarter I like this is you think the average person we know graduates with about 35000 dollars in debt. This saying hey you buy Ausmus who picked thirteen thousand you have almost half you won't pay it off right. Right like that's that's Pete it's good marketing. I had. Wonder if it sounds are get a great like price of course yeah they're gonna need to raise the price it sounds like a little bit smoke and mirrors that would puppy but keep in mind if it gets you out of that student loan debt. Now like it's still think yeah that's raising the price and in really what you're effectively doing. Is that student loan that you just and more ties and it over thirty year period of the mortgage and rent you know so it's you just you paying it moreover time. But it's likely going to be a lower rate than. Okay and toss can be deductible. So it's like I look at it even if it's you know getting wrapped into the home price. You pretty much using equity line to pay that student loan debt off which isn't the worst idea in the world. Some cases. Well we'll see if it if it takes off I like it be something takes off in the northeast because Lennar doesn't build. You know in Lennar Sudanese companies they'll build you know a thousand houses time. Right it's that they do not typically but building you know the single development with six houses or something when that last time you saw thousand home development in New England. I don't know have. And regional battle to win that Tim Posey and who's building out New Hampshire but that was back in the sixties you know it's it's it's been awhile. Whose gonna help Puerto Rico via this story is not going to go away you've got three and a half million people between Puerto Rico and the Virgin Islands. Do living without electricity they're living without police they're living without medical care than living without food delivered without clean water. It is going to be a humanitarian. Disaster. And really. If you're the federal government what is your incentive to helping them he didn't know that three and a half million people they can't vote presidential election no they have no. ADB don't have any electoral rights and they don't have any authority. So here's a question do you think this ends up being the event that ends of changing. I wonder I wonder right at the evening making Puerto Rico state you know there's been so much talk for several Puerto Rico will be the 51 lake. Is this the event that finally capitalizes that because you otherwise I have and it's and it's huge it's a clean a half million people it's almost the size of Connecticut. Right beneath population wise Massachusetts is what seven of the masters is about seven to Puerto Rico you know people say notes that you know is now being a full of Vermont scale like 700000 people and and it rebounds like a million New Hampshire is in the Wyoming 500 at three and a half million people. I'll get this. Three and a half million people Puerto Rico would be the 29 biggest state in the country of falls right in the middle. The the the problem. They have is the these. Unity there are American citizens and help people realize that you're. If you live in Puerto Rico you can get on a plane with your drivers you don't need a passport. He can fly to Orlando. And you can work in and you don't get a job. I think you're gonna have a mass exodus of anybody who's capable right if you if you're yup if if you're a nurse in the actually one of the big problems they have now truck is. All the nurses and medical people have left the upheaval after in the last few years because they said. Hey why am I gonna stay in San Juan. And make sixty grand a year and the quality life isn't very good when I go to New York to make a 120 project is you mind the average per capita income down in Puerto Rico is about 35000 a year less than Mississippi. You know so. It's looming on the tickled I wanna see where it comes in to the bottom of the heap. Yeah go to eat it you go it's less than Mississippi which is the worst yeah so it's you know I I think that you could see. Hundreds of thousands of people we've never come back but what what is the motivation on the part of congress to do anything. Leave your congressman from whale with a mighty why do you care if your congressman from Massachusetts why do you give two licks about Puerto Rico. Well because in the lake if you look at this purely from the political perspective and up because like it's the right thing to do because like there your people they are US citizens and well congressman and he is so let's let's say you're looking purely from a political perspective is an honest and that's how they. So if that's how they're looking out you don't help them all these people gonna move into your state vote you out. They they are US citizens they can do that going anywhere not talking about refugees like these all I know you they can go where ever they want and they can say. You're done now and helpless. I'm I'm I am homeowner and a part time resident of the virgin some obviously very close to it but here's the problem that I also look at trucks. Is when you send money there. BP because Puerto Rico the Virgin Islands are run. Very poorly. The money gets stolen. So he send aid don't you send money down there you send FEMA works workers down there give an example of how bad and how dumb things are now. On sequoia. AT&T. Had a generator. Running when their tower sites so people can communicate Oca. The locals stole the generator. They disconnected and stole the generate. And yet so stupid if it and admit they're not only stupid but there's the and so the even if it's kind of comical like you like it's seriously as I notice so it is not about a self inflicted but I'm just thinking about it eat you know your congressman you're saying. These idiots are killing themselves so why am I gonna vote to send featured talking about a couple hundred million dollars you're talking about. Billions. And billions of. A dollar alienate your 100% right and it's a major question and I don't have an answer for. One thing that you know you could potentially do is look keep the money in the hands of US agencies use that if you're not very good point you do not hand it over to the Puerto Rican government. You can't because they will steal I eight that's the thing I hope people can recognize. The reason Puerto Rico and the Virgin Islands are in the position that there are in now the reason their broke and they are destitute he is due to corruption. Ignorance and incompetence it's it's it's a it's a part of the country folks that. And lest you've spent a significant amount of time down there you can't send them money they will steal any money you send them. If you had an agency that went down there I think one of the things they might want to consider doing. Is privatizing the power authority because right now the park that the electric companies and there they're not. Owned by its national greater effect owned by the query government. And me and him and me it may have stolen from that for the last fifty years. Anything they touch they basically steal from so my my suggestion here and I hope congress pays attention mrs. You can't just give them money thinking that they might do the right thing they will not do the. Department was thinking yeah you can if you you know privatize the the power companies can sell that off I don't know if it's worth anything that's no would be it would be yeah I think you could charge it up yeah it is. BEU that you know that's a way that you could at least raise some money if you're saying okay how do we pay for this are you black out or you're gonna get very much for you but I guess you would have to repeat to rebuild if you get a billion dollars for now you know. They coming up we will be joined by a business owner David Saltzman is the founder of fun to eat fruit company. He's been on the show before about a year and a half ago he makes a return visit to tell us about this new venture. Every Wednesday we talked to a business owner if you are a business owner. And you've liked come on the show we'd be happy to talk to you we'd love to interview. Its financial exchange showed dot com just contact our producer talker so what if you like to join us on air that's next from the financial exchange radio network. Markets continue to fluctuate but we've got you covered get your daily update on what time and what's not from Mike Armstrong every morning at 1030 boldly on the financial exchange radio live. Work 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 Titus is very Armstrong and if you're in need of 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 -- -- 86684856990. -- free guide today the law firm of -- 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. If you're in the market for a small business loan you need to call leader bank if your 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 ad rate is locked for four years you need to have a credit rating of 700 no 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 -- 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 fraud if you don't take you were required minimum distribution you're subject to 50% -- -- penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&B rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our website financial exchange showed dot com. Juries are for two securities America incorporated member finreg SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are. Unaffiliated hi this is 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 -- one point 15%. Annual percentage yield this is an online product only and there is no minimum balance required so log on to leader bank dot com and sign up today this rate may change without notice that don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates -- 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. Her FDIC no minimum Alex fees may reduce earnings rates subject to change without notice and may change after an account is opened. The financial exchanges all over New England to go to financial exchange showed dot com and search for the station closest to you this is the financial exchange radio network. Small business owners if your business owner that was like come on our show and talked about what you do every day. Go to our web as a company to exchange showed dot com David Saltzman is the founder and eat for a company and he joins us today. They think coming on with us thank you for having checked they know we had you and when was it about a year ago I took about a year ago now. You have another business that you run as well what is that business that's espresso Dave's which is supportable. Kept chino carte service and you've gotten pretty busy at this point in you you're running about six parts I think yes we are. And you decided that you were bored and you wanted to do this is well compared. Well you know I am an inventor by the nature gas and I listened to what people see me about. The latest items that. There on two and dead. Yeah. Just felt that it was trying to make fruit fund eat so what is fun to eat for what would it what does this company do. So fun to eat fruit I invented. The system to applying. Anibal imprint. Whether repeal logo and image. Marketing slogan wellness. Program introduction in game two and so we put that on to fruit and we've extended it now to garner issues where we can. Go to a Brighton grooms name. When mineral line garnish they can go one entering that. At their reception. And we also. Went to what we felt were our toughest customers. Which are students. And we went into the schools with fun images on the fruit. Such as smiley face is people like LeBron James picture on opponent outdoors we could do that and we actually increased fruit consumption in the schools by over fifty pursue that you really. Just by putting something on the fruit people are more open to eating it you see that young person a reason to take that for. Now in terms of how to get the idea for office that's my first question so through the espresso Dave's business we do a lot of trade shows. And to standing there right with listened to people coming in to show and they would say you know I'd like to come to a trade schori can get something healthy to eat and getting tired of chocolates and candies and things like that so it kind of inspired me to try to come up with you what would be. Meet something different something healthy so there's fruit. And jam. I took about a year and came up with Wendy from the Disney image change the taste or texture and anyway. No it doesn't it's check for lack of a better description it's what I would call healthy and then what would have made out. It's FDA in Kosher prove food and greet so cut and so it's it's all completely edible and everything. And what were some of the companies who are some of the people you worked with who have but taking up on your services to this will believe it or not. We've I've got some samples here to show you. Probably one of the more important ones is the American Heart Association really. To we've done. Sell Alitalia thank you several runs for them. And then I would do all the printing. I have a facility in Portsmouth, New Hampshire and that's where told on Iraq so you do it all in imports and there how many people we have working at that as six people really. So you get six people they're just pretty stuff on for all day every day right now. We it's just incredible it is a scalable system it's a semi automatic system at the moment. We can be scaled to fully. Automated system have you considered taking this to other foods as well on him a Morton you know can you do it on things like John meet at some point can you do it on you know lettuce in the how how far can you go with this. So we are experimenting right now with vegetables. Let troubles are a little tougher. And fruits surprisingly. But I have printed on such items as cheese. Hot dog buns hamburger buns. I think of this is something big for it it's like a walk at under fundraiser. So that the yearly we go to that we I think we go to in the winter rob rob Robin Wright for kids via. It is an absolutely absolutely and people appreciate getting healthy item. It does provide. The wow factor that people are looking for college reform recruiting there perfect Writely could he went so. Here's the question that I have for. How much does that cost so fun someone let's say that I wanted to do this for winning where wanna put you know both our names on the a banana or something like what's cost. So. There is this one time setup fee. 175 dollars token. And then depending on the fruit reducing. We do try to use local fruit whenever we came in Apple's run typically couple bucks a pound. True so we watch them in print them they're ready to eat at a dollar each dollar each the cut and breezy. We can do oranges. What are the best for its fitness. I would say the hearts can return the bats yet Apple's look at Levin says the Lavinia and apple really good is it's a lot crisper than I thought will be not just the fruit of the whale walks you know it's thank you looks phenomenal thing you so you've you've got this facility in Portsmouth that is producing these right now. Exactly producing and given month typically right now. You know it varies. Quite honestly we can scale to any level. This time of year to meet the surprising. Part of production he is it is mainly weddings is it. If so Brighton grooved with their date and and we're shipping them out and ask that we are secured by a stroke it you said. I ship and chart you'll shipped anywhere around the country are shipping to California we're shipping to Texas. We do a lot of work with the colleges. And Dartmouth College we just did in order for them great school. Great schools here. So so you get instead of sending a save the date Carty consent to save the date apple absolutely absolutely I I think this is phenomenal. So no I keep my eye on the guy the are you familiar with potato parcel yes so I'll I've used them a number of times because I think sending messages on potatoes greats of the fact that you can now send a message on a piece of fruit kitty. All my friends better watch out because I'm gonna be I'm gonna be sending these out. All the time I'm not leaving Kitna like you're all in big trouble we'll corporate announcements and we have people who put their business cards on the apple. And so they don't wanna eat the phone number what the customer than takes a picture it and it's is there for. I I think this is absolutely phenomenal so what what what is next where where where do you wanna continue to expand. So the darn issues are relatively new for us. And to we're getting tremendous. Acceptance of it and done I look to grow that. That area as well very good if if someone's interest it is in learning about fund each through word of ago. We have a website. Fun to eat fruit dot com. And we're on instead Graham and yes FaceBook. Am never seen this the force of interest competition. These yet I just I want full color pictures and the idea that I bet I carriers as we know I I think this is out stated you have a patent on this. I can't get a patent. Because I really didn't created new technology for this is new application. A new application I'm sort of I guess my advantage ease I'm old enough that I kinda remember. The old way of doing things and I see the new way of doing things and I kind of married the two together very good David thank you very much dominant my pleasure thank you. Up next to be talking and continuing our conversation as a relates to corruption. In college basketball from the financial exchange radio network. 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 it just makes sense of leader banker called and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency on 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 seventy -- half you are required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their diary or they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% higher rest penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&D rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our website financial exchange showed dot com. 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 the securities America companies are. Unaffiliated hi this is -- -- with -- an important message for you and your family if you had a successful career and haven't yet taken the time to plan for your future now's the time to make that call Cushing and Dolan and senior partner Todd let's 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. 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Why collect your rent or your Condo fees with paper checks it with the modern age go to easy rent dot net or call them toll free 8776. I'm 17900. They say video has ten pounds. But don't tell Berrian jogging the financial exchanges alive every day on FaceBook and YouTube this is the financial exchange radio network. Well yesterday the story broke about corruption probe in the college basketball. And I tell you my guesses this goes well beyond just called fast. I would imagine and we talked about this a little bit yesterday ten people arrested on Tuesday. In this bribery scandal including four assisting coaches a former financial advisor. Couple of different shoe company executives. And this is something that I think when it's all said and done is going to drastically reshape the landscape of college sports what is the alleged here. Is that shoe companies and advisors. Were effectively paying. Both athletes as well as coaches in order to get those players referred on them for contracts down the road so how much would they pay kids to go to leave. Could be anywhere between it depends on the the school it depends on. The player depends on the sport for probably anywhere between 200 to hurt when he and 250000. Dollars so they. Hey if that's a indicate new age of blue chip player. They they call them they rated by stars yeah I know those five star recruit. Who went two or committed to Louisville at 200. About a 100000 Tyson Lee connected gets a 100000. And what is the old the person that gave hundreds and what person who gives in the underground so could be either are shoe company could be an agent could be financial advisor to be checked going to be literally bag after it was the date they dash knows they were really on about some of the stuff they'd like wire transfers go OK so they like this it somehow literally lake is dumbest Eliot Spitzer back in the day using wire transfers to pay for prostitutes and echoing. Do so they minister was not pickle than let's go through this they get a 100000 to dictators pare its rate. Now what is the kid oh that he has to go to Louisville gives obligated that if you eat if he goes pro and if eons of signing a major contract he's a sign that contract with that company so. The way that it works its ideas is looking at this like venture capital investment they are an Angel investor coming in saying it will give you a 100000 today to give it a whole new that that's it becomes the next big thing and they can sign him for shoe deal where they make million this there's agents and Paul Pierce who sold you the 100000 that they yet. Decked it is also obligated to sign his pro contract with each one in what they may do is they may funneled money through the agents are saying hey we'll give you 200000 dollars bringing us to a your kids. And that way the agent and says yup I've got to pass to a contract for yeah. And it did there's so much dirty money in basketball. And I really basketball isn't football obviously balls terrible football terrible so I'm just thinking like and he was last week we talked about the most valuable. Sports franchises. And was an Ohio State football one point five billion dollars so when it just paid those kids could so here is they edit if you guys Ohio State is at 85 scholarships a year. Right 8885. Kids a year. Any dud division one is gonna have 85 scholarship basketball price and have 1214. Yeah I mean I'll I'll I'll get up on my soapbox a little bit because this is something I noted. Good amount. About just because hey I was a college athletes so I've I've seen what happened actually got paid six dollars in the Ed O'Bannon case because my like this was featured in NCAA college football they never. But beyond that so if if you go what are the best articles that you can read about the NCAA title the shame of college sports and by the Atlantic it's from 2011. It details that the founding of the NCAA and and kind of how they rose to prominence in the fifties. The reason that they created the term student athlete in the way that that term came about him was because a man by the name of Walter byers who was running the NCAA back in the fifties. The NCAA was starting to get sued by people for workmen's comp claims because of all the injuries that were happening in football musing about if you play basketball. Well not basketball selection as it was it was a football it was football and hockey. Yeah I seen kids come out of there after their four years of playing hockey that have a lot of life. Altering injury is the biggest one that caused this was football so what they did is they came up with terms student athlete in order to argue that their players were not employees. And that they were not simply students they were the separate class of student athletes. And so they wouldn't have to pay it and they would NAFTA do anything in in the form of workers' compensation because it was not a work related athlete it work related accident. Pretty much anything about the NCAA when it comes to their treatment of players. Is. Shameful it is. Overly restrictive and you can make an argument that would be NCAA does is an American what other thing can you do in college right where you're restricted from earning any money based on your talent imagine if you were the best saxophone player in the world and you said hey on the on the summer. I'm gonna go nominee go play at Carnegie Hall in new York and imagine if someone came in said yet you can do that you can earn any money for doing so. How ridiculous would that be yet somehow we say all it keeps the game pure to keep the game pure keeps the kids. Pork now. Well eight if something's gotta give here conceit. The a lot of these kids are broke you know if you know with hockey most of those kids come from middle income to affluent fans hockey after the equipment so expensive but basketball and football and those kids are inner city kid glancing at the time their commitment to it they're gonna take the money they don't time to work. They don't terminate a running in that you rate very good point and I beat you know we. We we look at them and we say it loudly to play football in front of 40000 people as that great practice every day it has a full time job it's your division one. It's beyond that. So exactly where it's full time where I was I was playing again at a one double A school okay and it was when you talk about the total time that you spend for us not to practice time but the total time spending. Just for that it was about thirty hours a week and we weren't good when I was there we were bad. That's what a good program spent that we now phenomenal these days Dartmouth football too and oh by the way this year's start the year after wins over Stetson and whole across all of those big ones. Don't worry about it with some of Gloria Stetson Kobe grain. My brother in law passed to my husband. To hide a six figure inheritance. Before his divorce this is much more common than you think that. You know mum and dad died and you know you're gonna inherit half a million bucks. And you don't want to give half of that half a million to your ex wife for the woman you're going through divorce with this chalk this. Happens it and I've seen it happen where people haven't done advanced planning so the the duke yes and this is be illegal lately he's asking is is crime yes. But one of the things that I'll point out folks is. If you have a concern like that night and who doesn't right you've you've worked hard your whole life and you total net worth of 2000003000005. Million bucks ten million figure rich yet ten million dollars total net worth. Well would it drive you nuts to know. That after you died. Your ex daughter in law ended up inheriting. Half of your assets. Because she got divorced for Garcon. And any. The reason I bring it up as Cushing and Dolan is giving away guide it's called back to the basics complete guide to estate and asset protection plan. Sometimes owner talking about asset protection planning we're talking about it in the vein of protecting your money. From ex daughter in law were an ex son in law. You know these are people that Mary into our families we love the way we treat them like they're our own children right knee the knee. We'd hear all the holiday parties and you treat your daughter on just like your own kid. But how would you feel if she ended up divorcing your son how would you feel about your son in law if he left your daughter high and dry with four kids. He wouldn't feel very good and you certainly wouldn't want to leave them any of your money if you that he had a copy of Cushing and builds guide which will teach you how to prevent that from occurring. Really do you call 8668485699. That's a long winded way for me to tell you. You don't have to leave your money so that used exposed. To greedy ex son in law or gold digging ex daughter in law. Who sues your child for divorce after you're dead in after your wife is dead. Call Cushing handle an 8668485699. Or go to legal exchange showed up on it it's that important to you get that document online right now today. Legal exchange show dot com. Hartford has been further downgraded. Into junk status they are from what I can read chucked it sounds like they're gonna buy the farm in November. Yeah looks like S&P has knocked them down four notches to double seat which is pretty much one step above. Default mean really Moody's has downgraded them to see double A three so again percolate if it's it's it's not good for Hartford eight anytime you see these downgrades it makes more expensive for them to go out and borrow in the future and so it it pretty much creates a spiral there's two or three fourths Noah and they they've pretty much said that they need to declare bankruptcy by November of the state doesn't bail them out the state can't element is that army and the state doesn't have any money either so it's say it's a sad situation for Hartford but it appears they're likely to head down the bankruptcy path in the next two months much to the president's chagrin. Roy Moore. Won the Al ball Amma GOP senate primary yesterday you wouldn't know what though because he actually went and deleted all of his out tweets promoting with a strange. Luther was his guy why was Luther his guy or more. No one's entirely sure. I'm not entirely sure at least gone so I'm sure someone out there knows answered there's more cerebral like to use more light the present. BCE easily enact by Steve van in like guys formally in trump staff so it's I don't quite know why he was backing Luther strange. It's not something that I ate completely understood more would have seemed to be more in line with. One would Donald Trump would was kind of BO matching up with. But he more did end up winning the Republican primary there it's it was going to be going up against Doug Jones in the general election. Chip Beck is the second biggest province in Canada believe. And Montreal's one of the biggest cities in Canada probably second or third in terms of size. And Hoover is threatening to leave come back because Quebec is mandating certain driver. Yet Hoover saying that they will allow halt their service as soon as October 14. Until unless the ministry of transportation. Reverses a new provision that would have drivers undergoes 35 hours of training. Fifteen more than they previously required in order matching similar requirement for traditional taxi drivers I think comebacks in the right on this. Now would you say like if you're saying hey we wanna create a level playing field for taxis and other drivers and you should have the same requirement safety very real well why why. Why would you make a taxi driver sues us and idle threat on the part of mover. Is eight emits a big market in the it's EU EU we laugh about Janet weeks ago so it affects got the ten million people so I mean. Is an idol through another probably gonna try to you know get all of their you know drivers and riders all angry at the city still be effective which people will I think the city's right to lake. Our city it's a problem that looked at the province so here's the thing. Overs argument should be okay we want a fair and level playing field now you're asking for favors using our drivers are better they don't need that much training. Based on what it's like a lot of training 45 hours to use train them what's 35. Thirty it's the same attacks after a fight you wanna say du 25 took the taxi requirement twenty tuned. Merit. Next will be joined by Doug MacMillan where are we talking about the White House initiative. To provide support to coding schools and education involving coding coating is important and if your kids. Wanna get ahead in life. And it's a good skill for them to learn that's our next topic from the financial exchange radio network. The financial exchange with Barry and chuck is alive on FaceBook and YouTube every morning beginning at ten and this is the financial exchange radio network. 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Your bank is offering an FDIC insured CD. For thirty months at one point 75%. Annual percentage yield. Check it out leader bank dot com or give them a call at 8776917900. We're joined now by Doug MacMillan from the Wall Street Journal. To talk about the trump administration with their doing to Foster more technology education I don't. So what this is a big announcement yesterday belief that there. But yesterday the White House actually aren't on data. Announced that it would be indirect into the market it nation view. In enterprise. Schools throughout the country plays more and has been on computers by an agent is thankful I. Well at age is and robotic and now and the schools that do data are going you'd. And that any more than just barrel education grant that our next. We'll be put out what a couple hundred million bucks which the president referred to lose units. It is not a lot of money. It. Out. A lighter moment today and specially prepared do President Obama administration. At arbor or billion dollars. Should it compared to what it bottle. Is a very small thing but people it. Are you have been seen that with more involvement corporations and corporate America and which I have a degree in number. On line three he or real training school and then you can kind of make smaller amount of money bill. We shouldn't this be something it's done at the state and local level election might town be recognizing gee we. If we want our kids to get jobs when they finish college. We need to treat teach him how to code right why is this coming down from the federal level I would think this is more a state or local. Yes school but being anti and a program currently event a lot of local and state involvement. I think what has happened over the past spectators though is. Federal level we've been realized in an American again. Are falling behind other country in terms of patent buying you know one passed passed baited. That our students are great one what he's been dirty. That any one country when he sport and I'm 38 and Matt. Under this situation yet we're fine you in a tree and a economic opportunity and he turns country I think it is a bush gore the White House and administration and administration. You try to do increased. Our appetite you know anymore. Ehrlich and. What's the appetite on the part of corporate America. To hire these kids that he indicated there are a lot of job openings in technology and computer science. There there definitely are has the skills gap in the country right now does something like the job they're built and at least half a million. It would computers and I think that you know who moved in the future unforced eating more and more industry. Where ode to add. Our jobs in debt it incumbent upon. School that he's he's you know now we need to know you know what in the paper view yeah it's a map is the drop won't work force. You know we hear about these boot camps out of Brooklyn in various parts of the country. Where kids go to school for twelve weeks and learn how to code. Leasing companies do this city you know would a company like IBM start their own internal boot camp or Raytheon under apple or Amazon yet. Their leader of an increase in awareness of our. Businesses. News. Gated salt and train I want our. Earlier and earlier ought. I spoke you'd Oakland school district court here in the Bay Area where I did who. Benefited from from grant. Recently front salesforce. And Intel were actually tried that is bringing teachers and bringing trainee in the classroom Al east bank like robotic out. What is it what it away for shipment is that a computer look like and there's more more awareness and involvement. I've been at it in these are current at earlier ages ten. Well you'll that that aren't are part of their need in the future workforce. You know the problem is at the high school level are in grade school. You know it's hard to get somebody whose computer science major to go teach at a high school for fifty grand a year. Knew they they can go to private industry and make 200 grand here. It is I think it. That has been around that area structure and I won at the approaches which the is he try to currently view. Well. Teachers are their area general I will each year. Then sell it you'll learn it computers I there are on line program. Now I'll go to or. And Rami national not our organization. As it made available big Cody or instruction. Or four features. You out yet and it'll be heaters. That it that it. Five yeah beat the heat you know yeah. They don't wanna teach at public school that's for sure Doug thank you very much for your time that's Doug MacMillan from the Wall Street Journal. Our kids are falling behind. As relates to coding education thanks for tuning in. To the financial exchange radio network.