Oct 10, 2017|
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
This is the financial exchange with the very Armstrong and sharks are now. You're exclusive look at business and financial news affecting your day you're sick leave your world. Stay informed and up today about an economic and market trends plus get breaking business news every day. And now the financial exchange with the very Armstrong and chuck Exxon. Here's the skinny Honeywell is a 108 billion dollar company that did 39 billion dollars in revenue last year. Their stock prices up 24%. Year to date. And that's not quite good enough hi everybody it's Berrian Mike with you here on a Tuesday. Why are we talking about Honeywell was there in the news they are going to be breaking up and it would appear that they're gonna spin off. Two companies to effectively fueled shares in Honeywell I suspect you'll eventually own. Shares in three separate companies and being etched in trade it is it's it's been. Kind of rumored for a while they might be considering this and it is such massive massive company that it sort of makes sense to specialized computer partners with the talking about so far. Is spinning off there home type products so it comes to mind me space heaters smoke detectors yet there's other bigger than ever walk through your house a lot of Honeywell products and now absolutely and then it's also spinning off the transportation business and then keeping and focusing on the aerospace business though. Really separating your three different types company's aerospace transportation home tech products which. What will see oftentimes you d.s do see a lot of value created in these types of spin offs but it just depends on the situation you know that people that are thinking about this and who's an impact obviously stockholders care about it but it. If you're one of the 131000. Employees you're seeing yourself. We're where Mike Italy and and often times what happens when companies break up like this often times what happens they broke up with the police they'll do early retirement plans and things like that so. We don't know home. Too much I mean the news was started to leak yesterday afternoon there were rumors about Honeywell being in the afternoon yesterday it was confirmed this morning. Many of us thought that the stock price would pop up there right now it's trading at about a 142 dollars it did not pop. I guess Michael the only thing I can assume here is since that the stocks not running higher. It must've been baked into the price I think argument in the stocks up over 24% this year it could have been based in there like you said up employs. We'll see what happens there it is hard to imagine that breaking into three separate companies can allow you to. Layoff a lot of bullets I would think that it reduces some via the scale that you achieved by having one big large company bit off I'd have done. Well a lot of times they gave the there's a hedge fund I think it was third point that's behind this. And a lot of times with the dues and say hey we want you to break out. Because we want you to grow the business and sometimes that works and times as you know folks it doesn't work you think back. To that company that I followed years ago ITT. They broke back company up into three pieces in the stock holders made a fortune but they've been a lot of examples since then. Where companies have been broken up in the stockholders to make council yeah I mean made the you know you break this company opened a three pieces in one of those pieces of the very attractive acquisition target where nobody could ever acquire all of Honeywell then you know before this pre apps and assembly EF three or leases they could you know only they could grow one of these divisions. If they hire good CEO in a sudden that guy's got a lot of motivation to grow revenue. You'd ever tell him you'd never know what's gonna happen so it's adjusting to watch. I want to talk tax reform Goldman Sachs is suggesting. That there's only a 65%. Chance. That tax reform actually gets through congress and the senate. In retirement 2018 so when I first read the story adds that 60% chance in 2017. And I don't think so I and retirement 2018. The chance of the scanning through. I had. I'm not so far off and you know I think that's a pretty reasonable basis for guests that wearing it done in 265%. Chance I'm closer to 5050 personally. Well I think the I think the president is going to have to work with the Democrats I think this is going to. A real Democrat field disease feuding with so many Republicans Anders. You know he can't count on Bob coworker can't count on John McCain can't accuse the list goes on there's probably doesn't Republican senators that won't work with them. So he's gonna have to get. Fifteen or twenty Democrat senators to work within the north again tax bill through which means. And in outlook what you thought it was pokes the apnea I would say probably not and white no political expert so again just talking. Years here it. I would like to see something if you know they're they're trying to get this that thing down maybe you can maybe you'd used streamline that tax reform again that you get a whole lot of Democrats import did yesterday. Well anyway do you think that tax reform will. The at the president's tax reform plan will pass through congress I do I I think you'll get something done. But I don't think it'll come until next year may not come until march of next year. You participate in our poll by going to our web site financial exchange showed dot com you think the president will be successful. In getting his tax reform plan through congress and again the website address EU's. Financial exchange show dot com. 72 hour sale if you want to travel Southwest Airlines that do this every now and then it's it's it's not often I think he'll do this. I'm gonna say once every two or three years with the heavily in the 72 hour sales. And these are bargain basement prices but you only have a couple days to book your flights and the window to travel is pretty narrow yes let's talk about the window first of first up we're talking about car travel from October 31 through December 19. I've got us in the their blacking out now all of the Thanksgiving holiday for that as well I don't know January 3 through February 14 Fridays and Sundays are blocked from the steel but you're talking about you know one way flights from 49 dollars apiece you know for longer flights getting up to 130 bucks apiece. That says that's a steal a lot of cases they aren't seeing flights from I think. Albuquerque to LA for 45 dollars. Crazy stuff what they do is they know like he used early January actually is a great time trial because she. Payers are cheap so what they're trying to dues undercut the competition and sell tickets well in advance I think this is a good strategy and I think they're going to be successful. Because they also have. You know for people who fly southwest Awad. Their computer there apple being. And say hey this is a good chance to fly. And it will take advantage and one of I mean they've got some of the highest customer satisfaction industry mean the only airline I can think about that Steele last free baggage. Free luggage what did. You know and any others occupies in south listed and apply them. Yeah they're great Ireland. Deaf on employers and I'm no complaints. American retailers have a new target customer you know used to be when I was. Baby boomers were all the rage baby boomers would be worth the market if you didn't serve baby boomers your business didn't survive well. Baby boomers are now taking second fiddle to millennial as a matter of fact the largest cohort the largest age. In America. Is 26 years old the age of your brother Michael. 26 years old their four point 8000026. Year olds in this country yeah 93 million millennial switches roughly between 1980 and 2000. Compared to it looks like only 78 point 874. Million baby boomers weary giants 79 and yet we're so I mean the sales are bigger than the aid donors ever work for me population standpoint and companies really are struggling to appeal of this generation of she's just that don't know how to do anything they're teaching lessons on how to swing a hammer and some of the fight for your generation and just didn't do things like cut the grass hard work then yes there at their. Really struggling to you know appeals this generation of people that are not all do it yourself. In venturesome stats with you that I found. Really interest and if you're in. In any kind of business effectively. 42%. Of all homebuyers today normal meals and a remarkable 42%. So eat when you think about people that are buying any kind of hole 42% of them. Are limitless 71%. Of all first time home buyers. Our colonials. That's that that is remarkable at your point. They're 93 million Moline meals verses 74 million. And my guesses that number 74 million is deteriorating. But at least a million a year. Based on the age and one of the 81 of the stats that particular stampede at Procter & Gamble that researchers found it 44%. Of Mullen CO move within the next year. That is. Higher than I can imagine it. Have ever seen any millennial shop differently to be the tended to play the game don't buy and that's one of the cup problems at a company Procter gamble's having. The eagle by. That same products at their parents. And I don't buy him the same way. I've made that big advantage Procter and we used to have was you know prime shelf space in all the grocery stores and all you know all those different shops. And royals are buying it on ams shelf space doesn't matter. What 26 year olds are the largest segment of our population followed by 25 year old 27 year olds and 24. Just to. Put that in perspective so if you're running a business program and appeal of those people news that's for the moneys go on Wall Street firms that gambled on Puerto Rico. They're losing a lot of money were talking to Matthew Goldstein. From the New York Times who are these guys and how much money are they losing 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 aren't. Break here we've Berrian just on the financial exchange radio network. Planning for retirement is not an easy process there are many factors to consider such as contemplating how much money you'll need to enjoy your lifestyle there's also the concern about legacy planning and health care costs it's like planning a Thanksgiving dinner and not shopping for all the right ingredients this is very are strong and if you're close to retirement you need to get my brand new free guide called retirement readiness it's only available at my website Armstrong advisory group dot com this guide will answer any questions that you may have about the retirement process and it will include your very own retirement checklist seat can make sure that your hitting all the right boxes this guide is available exclusively online so get it right now at Armstrong advisory group dot com that's Armstrong advisory group dot com. Securities offered to 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. 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 liter 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 and don't Dele log on to leader bank dot com get all the information about this great offer and sign up today before the rates change get. Free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available on line so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. Hi everybody it's Barry Armstrong and Jake two Lian we're talking about a program called Z rent. Now this is specifically. Designed. For those of you who are landlords and you used to collector checks. With paper checks are gosh maybe still do will Z rent allows you to collect checks electronically. Jail is hoping he could spend a little better time explaining how easy grant works and why it's a big advantage for landlords. Absolutely buried so we we develops the rain to. Out of me the whole race you know because right now you know with the landlord when you're getting rain checks. It's low it's unpredictable. 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They could sign up and become part as he rent yup you your if you have a community bank that wants to be a member happened Collison will have to sign up and the service will then be free free. All right if you wanna learn more about easy rent. Go to Z rent dot net you give my call if you wanted to 8776917900. If you're bank doesn't operate they can sign up for is he wrecked. Go to zero rent dot net or call them coal free. 8776917900. Security suffered through securities America Inca members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. The financial exchanges all over New England to go to financial exchange showed dotcom and search for the station closest view this as the financial exchange radio network. We're sifting through the rubble that is Puerto Rico to try to figure out who lost some of the money. That has been expended over the last five years we're joined now by Matthew Goldstein from the New York Times to talk about that very subject Matthew welcomed the show. Good morning so who's this guy John Paulson and how much money does he have invested in Puerto Rico sounds like he took a bath. Well. You know. Jobs also is a message from manager. Yeah people may have heard his name he was one of the people who bet on a collapse of the housing. Market there are several. Source sort of well known for having said that about a decade ago and he does once it was about fast. Ball he'd be at one time he managed 36 billion but you had a number of entries since it out about and now. He yes yes and that but it's been said that even in about a about a billion dollars in real estate mostly in luxury resort. And office buildings and condominiums yup. It go to your dad I mean. Come out from the property damage standpoint he he probably generally okay as are many of the resorts Armenia damage but not. Huge damage but it's going to be an economic or going or about. Taurus just getting people to work. At the resort. There's a big concern about a lot of people looking to be the Eileen you particularly at the services just did not. And I cut back. Right do you know how much of the islands you know economy is based just on tourism. Well I don't I don't have the GDP percentage but you know it does contribute about 65000. Jobs in total and and obviously you know. That property rate on Puerto Rico's 45% are not as like. 14% unemployment these are all that's obviously before Korea me and you know that was the bankruptcy the poverty is so we've been Sabena a serious issue on the island and and obviously been moving away. From soda industry the pharmaceutical companies they're more to sort of a service oriented economy hand. Did you know from what I've either been on the island but from our reporters and also looking and talking to other people. Stand one is that it's starting to come back but when you go anywhere outside and want equity inland it. Really devastated on the island and it and it's just going to be a very long word. Right back and and that's really what impact. You know every what it was that kind of investment and because of it but you know there's other guys suck it. Property and they're they're saying that reports have felt the power different about conferees you'd be you may see captain million people looked to be the island an extra month a couple of the family you know in the states. Well and the thing that happens that does anybody that's got 300 dollars and family member in the states is out. In respect right they have the skills like if your panel truck driver electrician a nurse and doctor lawyer teacher in just think you're an educated Puerto Rican. Annular without electricity. And yet three in a box in your checking out your out of. There I mean out of it and if you have kids they're not going to court now. I mean you know we're going until the third the third week in the there's no sign that the kid's going to be going back to school needs. It really I mean when you think about it. But the many layers of the devastation and that's why people would sort of thing even if they did not yes I got an email that people think don't I don't of art is all you got them I don't think anyone Shelton but they're sort of the united ideas that. People wanna see the money to start coming in construction. Because it helps. Everybody you know they don't create jobs in the near term and starting to network going and it's really is frustrating house load things are things are now. Well Boston's pretty tight with trump goes and maybe he was his advisor last year and couldn't he go to trumpets a Haiti and yell like because what they they need like ninety billion. Yeah I mean I don't I don't know how close friend there he got the western economic advisor one point trump was an adapter in his head trying. I mean if you look into the pulse leap over it and not that close you know he was all but who knows I mean it's pathetic and beyond that I mean. You read the report I don't know. How much. The president actually listens too much to any it department entity takes advice that he makes his own decision yup now. He's. I'm he has his own man. It is so mad and there are other business people their Q let me look at couldn't hurt probably at some of my Paulson thought what I I was down there at this is what's going on. I think we need to have you know it's not. It's not there very decent area that we might like you know it's I think that it. What are the Puerto Ricans gonna bill immediately I know a lot of people from Puerto Rico and from what I'm hearing in this is anecdotal so I'm just talking. I have a friend I've gone home in the virgin also talking to a lot of people down there what I'm hearing. Is that Puerto Ricans are heading to two top destinations. Are Florida. In New York. I hurt. Texas. Yeah and that's a record that doesn't good and it remained destination New York Florida and and Texas and what. I get the Catholic if you if you look alike from Puerto Rico I didn't think people wants. So leave the island I think they want beta they want to make it work and at some point. You'd you'd have to pick your and we considerations. You know edit what I mean I. Yeah look I think that the power with a combined and people could reliable potable quarter I think. Could be a lot more patients but I think there's a camp as the two basic things that people. People need and have a longer that takes site I do think it's gonna be a very difficult such. When Matt there's no reason to believe the power's coming back NBA they every report ivory and is you know they they won't even put a timetable once they won't say all right we'll have a back in six months beat that they're talking. I I've read it like and if you're talking about the western end. Of that island over the middle of that island where there's thousands of people who live there yeah you're you're talking it could be two years. Yeah no I don't at you know we had a story about sort of like Porter it's becoming acute generator island and I was talking and getting my story but mocking as some of these property under. We're trying to get another place to come back online but you know they've good got buying generators but you know it it east it's easier said than done you know. You first have to get the trucks to strip the giant. The ship's generators yet to get the reliable diesel fuel so it. You know and they're not rent or. If they're not meant to run for six months in a row right generators are meant to be back you know raise the price right right up. Yeah I don't know it's been very very bad very bad picture aliens and I don't think. Yeah I yeah I certainly don't have the answers but it it's clear more and you'd be gone up somehow could. No no I agree Matthew thank you very much for your time appreciate it graphic picture Matthew Goldstein New York Times I'll tell you the what's gonna happen. Is eventually if the federal government will step in and rebuild. The did not have much choice but what's happening news. Everest canceling vacations which hurts and him for a it's it's so fulfilling prof as well but then what's patently view weak lately you're seeing happen this is in not talking to people that live. And and following them on FaceBook whom we have friends down there what what you're seeing happen is a lot of vacation plans are canceling. But then you're getting booked up with FEMA workers. Utility line workers because the war for the first six months the feds just basically given them. At an open checkbook pretty equally near the federal government is is writing all the checks for the emergency workers so. Because they don't have any money it Puerto Rico and the Virgin Islands are broke they can't borrow and they're bankrupt before the hurricane yeah they're bankrupt before so. This is just. The best thing in its. Kind of weird thing this way back. The best thing for Puerto Rico might be the fact that he's been masters took stakes and then earlier this year beaches at least it got someone else coming in at four. Well in if you're a long shot this might be an opportunity. You know the game. Because they're so risk reward they so many people leaving are either yeah they use. In saint Croix which is an island on intimately familiar with populations dropped by 50%. Is there have been a couple of weeks ago. Anyway when we come back. Will take a look at what Wall Street's doing and we'll talk about why millennial was are not opening credit cards. That's next from the financial exchange again. 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 all landlords chasing down only rent payments and making trips to the bank to deposit checks -- hassle out of round date with zero and leader banks all mine rent collection tool he -- automatically deducts tenant's rent and deposited into your account visit WWW duds he -- dot net to learn more we see rent your payments for each unit received regularly on the same day every moment tenants pay nothing in the first six months or free throw landlords visit WWW -- see rent dot meant to learn more or call 7816418691. Planning for retirement is not an easy process there are many factors to consider such as contemplating how much money you'll need to enjoy your lifestyle there's also the concern about legacy planning and health care costs it's like planning a Thanksgiving dinner and not shopping for all the right ingredients this is very are strong and if you're. Close to retirement you need to get my brand new free guide called retirement readiness it's only available at my website Armstrong advisory group dot com this guide will answer any questions that you may have about the retirement process and it will include your very own retirement checklist seat can make sure that you're hitting all the right boxes this guide is available exclusively online so get it right now at Armstrong advisory group dot com that's Armstrong advisory group dot com. Securities are pretty 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. If you own rental property you're going to want to hear about this exclusive program offered by leader bank it's called zero cents and is designed specifically to help landlords receiving and deposit their rent checks electronically as opposed to having to wait for the male co leader bank right now if you're interested in C ranked the number is 8776917900. That's 8776917900. 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Or visit leader bank dot com member FDIC's equal housing lender and MLS number 4492 finds he. Grow subject to credit approval leader bank a step ahead planning for retirement can be a complicated process many factors need to be taken into account including how to protect dresses from pro ready to. And in order to make sure that your process goes as smoothly as possible he need to deal with an expert Todd let's keep a partner with the law firm of Cushing in Dolan and host of the legal exchange radio program has been helping listeners like you for thirty plus years he knows how to prepare your trust and keep your assets safe this month and has written a brand new guide called designing the perfect income only irrevocable trust. In it you'll learn about strategies to undertake what preparing your trust as well as specific language that must be included in order to protect your assets from probate this guide is available exclusively by visiting our website legal exchange showed dot com. That's right. The only way to get this guide is online so head illegal exchange showed dot com click on the guides and articles tab and download your guide that's legal exchange showed does come legally exchange show dot com. If you're real estate or property management company Unita banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and real estate space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitized paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as ECH payments mobile banking remote check scanners and it's -- to see rent payment platform leader bank has a team of business bankers -- on call to help you and they'll come to your place of business and make it as easy as possible the number to call is 8776917900. That's 8776917. B 900 find out why many of greater Boston's premier property management and real estate companies choose leader bank as their banking partner call 8776917. To 900 or email -- BO at leader bank dot com for more information member FDIC equal housing lender. Time now for mall street watch a look at the market's performance so far today until Berrian jug right here on the financial exchange radio network. Checking in on market so far today generally slightly up about a third but breaking news right now is that Nelson Peltz has bid to get a seat on the board Procter gamble has failed he has not gotten the seat voted him shareholders' stock is down on the news died nearly two or over 2% on that. Other big news Wal-Mart today up over 4% on news they're going to be doing a twenty Billy twenty billion dollar share buyback program. And then they had some financial outlook that was generally in line and finally GE stock which was down 4% yesterday on news that they are just pretty much clearing house they got rid of that CFO marketing and international directors. Nelson gave try and which is a big name westerners docket board seat. That stock is rebounding a little bit today not significantly it's about one quarter percent after a sick giving up 4% yesterday. Here's my impression GT demonstrated the new guy has demonstrated the ability to cut expenses and shake things up. Policy to himself yeah I mean certainly shake things up day I'd I'd hesitate to give any credit in the short appeared and you. He did some stuff that I liked I liked the corporate jet movement like hundred cars and they like got a mall. I'm down with that now can use island in the continue inspire I want to see the top line growth. Shall we toppling growth and I'll think about buying your stock I don't G. They our poll question today is. Only 30% of you think it's actually gonna make it through a little bit surprised by that 70% saying no way Jose. Anyway if you or participate in our poll just go to our website financial exchange showed dot com so. Why normal meals not opening credit cards and guess they're stupid less than a third of malignancy they have a credit card now. Most of my finger terrified about the 08 or nine crisis and what that did to him parents and them or their parents and him and yes I can see that I mean a lot of people you know the east or mom and dad lose their home yet and or where yet to quit school pitcher decked in upward help pay tuition bill anymore. You know what that's gonna leave let's leave a mark yeah unfortunately I think it might be permanently you know hurting some some people think. Over 70% of people over age 65 have a credit card you know half the people over the age of thirty do I don't know why they wouldn't want the points yeah I think the biggest thing that trying to explain to people is you're giving up on. One to 3% to free money Rhine not having credit card of some sort earn now may be a question their ability to manage that and that's a really good points very if you are just. Incapable of managing your debt and yet you shouldn't have a credit card and that's probably good decision for you. But I can't imagine that that's 66%. Of Mullen feels the best the best way that I got starters just a gas for words cart and you cast so I was like OK let me go and get the rewards then that's very very critical stories like that the expenses that they are. Putting on like every day or every week you you know the stand XY NC and you know you have the income to pay that off every month just put that on the correct what else that you get credit currently at 5% off the gas two dollars apologize for Lisa Jefferson County elected they also have credit cards are very low minimums in eakins to earn very low maximum you can start of the credit card that you can only put 500 dollars. The best and you have to get things that drove the best deal I've seen those companies deal with the UV ten cents off per gallon. For use your debit card he joined the club that that occurred grilling yet that's a good deal they should focus on his. But I mean your here if you buy gas Barry Eaton did the other being important things by not having credit card you don't have a whole lot of other opportunities to build your credit score as a young individual right you're not only at her home. You may or may not have a car news to him when he sees it customer driving a car so if you don't have those two items house built current utility bill that counts you know pay your rent on time if you can prove you know. Yesterday we talked about robotics in the hospitality industry in the food industry. Shake shack is now moving towards not fully automated for straws but largely. Automated restaurants I think shake checks doing this Michael. Because. Of the fact that they're facing a fifteen dollar minimum wage in New York City yes they're testing this out and wanted to knew their new restaurants were basically it is not to be annually taking your resolve you know it's all computer eyes you just. I'd do it on your act. Which I kind of like that and you can I walked into a restaurant and order on my idea and I patter you know on tout it perfectly content I have no issue a tunnel once it was phenomenal treasury Illinois machine Newark Airport. And was it like a McDonnell Lou Lou knows just there was a bunch of different restaurants in the airport and you can sit down at the tablet you know nice restaurant did you restaurant. Well yeah I had a bunch options there but mineral tablets as and a waitress brought me food. Daily general if I mean accommodate a nicer restaurant and I actually wanna talk to. A waiter stress than their human specials at random things like that you'd get their opinion it. Yes I'm actually checker and that a chain restaurant I talked to incur a wanna get in an out you know who needs to do this has to pull. Because the line yeah I'm am in the conveyor belt of ordering a burrito yes I would like Malaysia about short lines and write it like it or I guess you can do well in order your files yeah I did ordered after the show. Yet another by the Saudi drive your trip to the biggest successor today witnesses is Starbucks. I have I have not. Go on and talked to some Starbucks the last use the food doesn't get us there and down on your app walk in the store grab your cup you want back that's a tucked as an error to. There's not yet fantastically run faster that they don't forget that. During the month of October Cushing and Dolan is making available free guide it's called designing. The perfect irrevocable trust it's important you have a perfect herbal global trust because if you don't. We might lose all your assets very could lose your house to lose all your money. Because some lawyer draft did you work trust incorrectly. Get the perfect durable global trust how do you do it. Go to their website legal exchange showed dot com and request the guy it's you can download the add right now. It's called d.s signing the perfect durable global trust you cannot afford to make a mistake here you just can't. Go to Cushing and old news website legal exchange showed dot com and get that guy. About irrevocable trust make sure that your trustee to Fiore have won make sure that the trust you have is perfect. Legal exchange show dot com. General Motors making yet another acquisition. Which I think may end up moving up their launch date for driver less cars. Yeah you certainly hopes so this is a company that I've been really just. Pretty down on since the financial crisis and its really think they're struggling to. Adapt to the stand agent you know way again hopefully this acquisition brings him a little bit closer to the company's name is strobe it really focuses on exactly that driver analyst technology. With that guide our sense there has a lot of those patents that are out there to him you know help build this stuff and yeah hopefully GM to get to market pretty early on this earth naymick you're in your competition here Google. It's just very varies death have a tough time thinking that a company like GM is going to be to the market and that's what well. That is let me let me just give you numbers aren't that that might. Defy your your your argument. They're 52 week low was thirty bucks a share. They're trading at 45 now they've rallied to just wanna you wanna think about GM GM is stodgy old. Little margin car making company that that's the business there. Labor intensive. You tariff issues you've got NAFTA issues he's got all kinds. Problems and they darn stock is up fifteen bucks over the last year. All I'll say is Wall Street is betting I I think Wall Street likes merry bear. And I think Wall Street not how I I will acknowledge once again. I owned shares in GM I didn't buy them because I said all they're going to be first driver was car but I did like it when they bought shares in left. I did like it when they bought cruise automation I love the fact that they've purchased strobe. And that's those are part of the reasons I married are. Is if you don't know her background in issue went to General Motors university she's an engineer by trade. Yeah I I she has all the makings. Of a very successful. CEO I think she's probably got another five. Six years in that role maybe mediate. But I just think that she might be putting together a winning team and Wall Street I think is agreeing. He can't very fact the stock has done well and again I if I'm betting on who's gonna come to market first with a dry Angeles cart technology in my bag money's not GM. Car gurus. This is a story Tucker does force they are going to debut on the stock market this Thursday and Errol local companies and New England based company mr. Tucker when they go. No yeah this is the from what I gather it's the same founder as trip advisor ray obviously he sold trip advisor in this is his new ventures new product project. It's been perfect over the past four years moreover following a night he's organized is they gave allied used force to get carte pricing. Yeah you your car pricing it you can get I believe their car reviews and car searchers available via. And on top of that and it by car it actually rates dealers. Sosa it's kind of similar to a trip advisor to fuel cell. I looked at vs I compared auto trader and this this website that never used for this morning and what I liked about it is it. Obviously tells you the price the day gives you you know a statistical. Opinion on prize is getting good deals bad deals fair deal based on. The age of the current mileage. It saturn's that was liberty interest it's very user friendly where you you figure they're about. Caught 1617. Million new car purchases every year but there's another. 3040. Used car purchase the knee and that's part of the market that they service and it's that it. I when I have minute to figure out maybe guys know how they make money. You'd think with this I was looking and it's what you notice is if you go to a search on there your very first listing as can be labeled premium list. Somebody's paying to put their car. Very first used car a cell. Soon dealers are paying them Wilbon minus OK when you search for Toyota Highlander. Put our Toyota Highlander first so list of results why would I use. Cars be the Q is there any reason I've a car that I need to sell. To use our viewers to use auto trader with what's. I don't know about I don't know enough about selling vehicles on either of these clips are Ina among carvers are now Imus says so Mike our free. You know posting wise obviously. And does this whole process right there entered a number you enter your zip code make model year all all the U one I used Honda Civic I've got one fax and by actress alone and Selma under so. May go to go to our group to track down exactly due to be a real life case that NATO. Pay up next will be joined by Brian Boland from Zacks ruby take talking about two stocks grab a pencil and paper stock talk 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 fast I can't be sure. Keep it here with Barry in check for the latest on the president's agenda and how the markets are reacting and this is the financial exchange radio network. Planning for retirement can be a complicated process many factors need to be taken into account including how to protect dresses from pro ready to. And in order to make sure that your process goes as smoothly as possible the need to deal with an expert Todd let's keep a partner with the law firm of Cushing in Dolan and host of the legal exchange radio program has been helping listeners like you for thirty plus years he knows how to prepare your trust and keep your assets safe this month and has written a brand new guide called designing the perfect income only irrevocable trust in it you'll learn about strategies to undertake what preparing your trust as well as specific language that must be included in order to protect your assets from -- -- this guide is available exclusively by visiting our website legal exchange showed dot com. That's right. The only way to get this guide is online so head illegal exchange showed dot com click on the guides and articles tab and download your guide that's legal exchange showed does come legally exchange show 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 another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage yield this is an online product only and there's no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice and don't delay log on to leader bank dot com get all the information about this great offer and sign up today before the rates change get. Free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. For York Medicaid income trusts. Todd you know I keep reading. Almost on a weekly basis about stories worst states are challenging. Durable global trusts and Medicaid applications. What's up with the increased scrutiny on these trusts. Yeah the problem is that you know many more and more people maybe are trying to draft him more more lawyers are trying to get into the field that that may be art race that the safest way to say it and and they're putting paragraphs and it it just caused problems if you if you wanna put it in English causes a crack in the ice yup and allows them to reach in and you know grab those assets from the trust and it's that back paragraph that causes the problem and so they're starting to realize that rather than just put states are true yeah. States are saying you know we're gonna we're gonna take a closer look at every one of these trusts and see if there's a way that we can find a crack and that it's well makes sense now. Whipped eight would have been. What's the result if you lose if you go to a fair hearing you lose what happens while if you were to lose that the assets basically the assets in the trust that you might have told your clients are going to be protected from the nursing home. There are no longer protected they would be considered accountable assets. And exposed to the cost of nursing home care so it's a big deal it is a bigot if you lose it's all about drafting Mary it's all about making shore. You put the right paragraphs in the trust. Folks if you have a Medicaid income trust you may wanna have it reviewed to make sure that your assets are in fact protected. He can reach out Cushing handled by calling them at 8668485699. If you want to copy. Of the October guide it's about Medicaid income trusts. Most of you choose to download the guide from their website which is legal exchange showed dot com legal exchange showed dot com. For your copy of Medicaid income trusts. The financial exchange for Barry and chuck is alive on FaceBook and YouTube every morning beginning at ten disk is the financial exchange radio network. If you're a landlord take advantage of zero it's a fully automatic online rape collection tool that is free from landlords with an account at. Any participating bank can always free for tenants. Sign up and have rent checks deposited directly into your account call 8776917900. Today or visit he right dot net for more information. We're joined now by Brian both from Zacks investment research talk to us about a couple stocks we've been now we've been mentioned as one of we've been talking about first one up on Melissa's Tesla so welcome Brian now what are you what is your take on the company right now. They might actually has me in all I really like hassle you know right now this stock it is Zacks rank number three in the hole. But that's just based on. Earnings estimate revisions so you know the last sixty days so there hasn't been any estimate revisions that have meted in his back system and that's what holt right now. But I did see this morning at Morgan Stanley raised their price target on the stock from 317. To 379. He has a lot of things going out without flaw obviously I think we're talking about the model threes and kind of production numbers are going to be there. There's potential for a bottleneck in the system there. But for the most part I think we're in good news from the earnings report that comes out on the 25 of October. Leno you obviously haven't seen a whole lot of movement in the stock price over the last I guess since the beginning of summer really has just kind of gone up and down and ended about flat from where was the certainly up what 70%. Over the last one year. It's for me I get a little bit concerned like you said about that mop bottleneck on the model three and then just some of the language coming out of the company. You know why didn't we know about that bottleneck a lot earlier than we did is what concerns me. Yeah you know I think thing and that deliveries numbers that have consistently come in below expectations. Wall Street hasn't penalize the companies that much in the past you know that if the question is does that start to happen. As the model three constant because a lot of expectations are built into that model three. So you know I think at this point really have to wait until January to get the real delivery numbers from. In other December it I think in previous tweets when mosques said that he's gonna have a eight you know a big. Months for delivery December's probably gonna be the first one. Brian near make it car parts by hand I mean I like I and I don't know the industry that. I I am in either the Wall Street Journal's got it wrong or I I've I am I would be short the stock before belong. And I think if you take a look on YouTube and to look for our titles factory yeah will be able to see one of these videos were robots. Are making them by hand I mean that's the story that I don't know that there's that much truth in all. Tester and afloat take a look at. I have although I love the card don't get me wrong I just. I you know they missed their target would be produced 200 cars and they're supposed to do 15100. Well I think you know 200 heart is just the deliberate for the model forty yen in that can be a little light so I think. The next couple months you know on December is supposedly gonna have 20000. Model threes delivered in that month so won't get that number in January I think until all off that point if it's pretty much as the country. Okay bird Brian would if they lay in day and they they they put out 5000. What does that do to your opinions. Well I mean that would really hurt it. You know it was significantly off yeah you know that's that's a big amount you know that there's I mean. Our investors. Are their investors like fidelity owns a tunnels Morgan owns allotment and he there's a lot of big institutional money behind tussle. Absolutely and I don't think that they're gonna sell out just because of one minute number at the very beginning of Iran for the model three which could basically they're EA game changer. Right right no I think if they can crank out 20000. Even by the end of the first quarter I'd be pretty impressed 20000 a month. Yep and yet if they're if they're rolling out 20000 a month in December I think you're gonna see this doctor at well over four. Well and you're gonna see them everywhere. You know late if people are saying 011 knows where nobody you know you see them on television but yet he can't go to dealership and see one. If you start seeing your neighbor to one in these raving about it if in fact a great car then to your point is going to be pretty the stock to hold. It. Yeah can we switch over real quick to this this are coming Sangamo therapeutics and really heard of that them what can you registered is exactly what they're doing. Yes I hope they're cute exit it is actual rank number two and that's the body and we and they both styles core but hey and the values score of past. Now the west say that you probably like I don't wanna buy as an asset value but. You know on the growth diet I'm all about growth and any time at the divergence in the growth score in the value score I know that I'm on the right track because growth investors just wants something different. In value investors. No this is Biotech company that in that very hot space of gene editing. They've taken it tickled to DNA and they can edit and Indian aid to try to improve things or or you know policy cures happen body. Cure itself you know so we program DNA. They added with a copper zinc finger. That's kind of a new. You know. Process that they are using as opposed to us some of the other stocks that are in this. The crisper asinine about technology that they're using. And it is one of those and yet NT LA is another one com and see our past he has won but. Thank Nino has been in the stocks under ten portfolios and I think about a month and a half. Apatow and it was nine dollar when we got into it and a sixteen bucks now and the looking for a lot more room. Well two really cutting edge companies obviously at Tesla for ticker symbol TS LA and that Sangamo therapeutics SGM thanks for joining us appreciate it. Thanks for. Is much is on nervous about tussle that darn stocks up six bucks today nearly faded Dow's up 28 points the NASDAQ sup for brutal as the dollar a barrel in the next hour we'll tell you why crude oil is rally. From the financial exchange with him. Planning for retirement is not an easy process there are many factors to consider such as contemplating how much money you'll need to enjoy your lifestyle there's also the concern about legacy planning and health care costs it's like planning a Thanksgiving dinner and not shopping for all the right ingredients this is very are strong and if you're. Close to retirement you need to get my brand new free guide called retirement readiness it's only available at my website Armstrong advisory group dot com this guide will answer any questions that you may have about the retirement process and it will include your very own retirement checklist seat can make sure that you're hitting all the right boxes this guide is available exclusively online so get it right now at Armstrong advisory group dot com that's Armstrong advisory group dot com it's. 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 in the securities America companies are unaffiliated. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917900. Workers at leader bank dot com. Member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by leader bank's local underwriting processing teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Emirates DNC equal housing lender and -- number 449250. Subjective credit approval leader bank a step ahead and he spent the last thirty or forty years building your financial planning business. He worked hard and your clients rely on your. But what about when you retire you have a team of dedicated professionals who will care for your clients in the same fashion as you do every dot about a succession plan for your clients our firm the Armstrong advisory group is a regional firm based in Massachusetts and we're looking to build our business through acquisition. We are affiliated with an award winning broker dealer RI AA and we have superior service capabilities we work with clients and all six New England states and of offices throughout the region making it easy and convenient to set up meetings if you're interested please contact us through our website Armstrong advisory group dot com or call 803934001. Our advisors have over 100 years of combined experience in the financial services industry call us today at 803934001. Or visit us online at Armstrong advisory group dot com security suffered securities America incorporated member and SIPC and advisory service is offered security Tamara. Guide to retirement planning it's really important that you do this before you retire. Talk about two things that are critical aspects of retirement and that would be Social Security first and secondly Medicare it's your Medicare supplement programs in your Medicare part B program. Yo let's talk a little bit about Social Security everyone knows that you've been paying in these programs relief for most your lives if you've been working. But there are a lot of questions about when you should take Social Security in the first thing that you need to understand is a concept called full retirement age and that age differs depending on when you were born as an example if you were born in 1942. Your sports harmony ages 65 years and ten months you're born in 57 it's 66 years in six months or you have to understand this as well as how your Social Security amount changes based on how long you wait. Right the other thing that you should do is take a look at our guide me again at stake in the guide for retirement readiness. Exclusively available for mark strong advisory group. But as it relates to Medicare. Each state we've listed on the in the guide each state and the web site that you go to for each state to calculate your Medicare program and which ones best for you. Yet differs depending on the different states and you really need to be cognizant of this when you're building your retirement plan. Well the folks again. Just to reiterate this guide is available exclusively for mark strong advisory group it's called an investor's guide to retirement readiness. You can receive the guide by going to our web site Armstrong advisory group dot com only available on line. Armstrong advisory group dot com. Go to now Armstrong advisory group dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for your securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buyer gold locally we just make sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader back a step ahead. Planning for retirement can be a complicated process many factors need to be taken into account including how to protect your assets from probate and in order to make sure that your process goes as smoothly as possible the need to deal with an expert Todd let's keep a partner with the law firm of Cushing in Dolan and host of the legal exchange radio program has been helping listeners like you for thirty plus years he knows how to prepare your trust and keep your assets safe this month to hundred no brand new guide called designing the perfect income only irrevocable trust. In it you'll learn about strategies to undertake what preparing your trust as well as specific language that must be included in order to protect your assets from probate this guide is available exclusively by visiting our website legal exchange showed dot com. That's right. The only way to get this guide is online so head illegal exchange showed dot com click on the guides and articles tab and download your guide that's legal exchange showed does come up legally exchange show dot com. Your dream home is within reach with a Jumbo mortgage a loan from leader bank they're 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 a leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 44950. Subject current approval leader bank. A step ahead hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage -- this is an online product only and there's no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice that don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new east savings account that has a one point 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now -- leader bank dot com leader bank a step ahead. And me. This is the financial exchange with Barry Armstrong and show Oksana. You're exclusive look at business and financial news affecting your day your city your war. Stay informed and up today about an 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. It's nice memory serves me well there's about three years ago. When oil prices started to decline and you think back about three years were we paying for gasoline what you're paying for home heating up well. I'll tell you as a lot more than your pain and today oil prices went from guy there in the 8090 dollar range. They dropped all the way to 27 dollars a share or 27 dollars a barrel. Whether rally today in Europe added almost 51 dollars per barrel hi everybody it's Berrian Mike with you here. On a Tuesday. And I don't know whether I should be nervous about this 56 dollar handle on oil that obscene or it's just a. Passing that. I like it acting this is it good area for office. Lot of a lot of companies are happy about it if you like fifty what's wrong with one. I think. If the amount of jobs that are created in this country we have fifty dollars it's fifty Gartner owners are much more significant. Twenty dollars there. The north American jobs that we are creating because I think are pretty huge. Brady guy certainly were paying a little bit more at the pump we did it you know there is achieving the gas pedal bike race and edited. Who 49 ash in an area I've paid to fit to actually do buy gas cutters three months. A process. Not too bad that it they might my point news. The the in the real Genesis behind the story in the reason you're seeing route rally in the price of oil. Saudi Arabia cutting production and Saudi Arabia even though they don't have the same amount of control. That they had a girl fifteen years ago. It's a lot of influence they produce in the city 1112%. Of the world was yeah that's the only part I don't like that assesses that the OPEC nations are in love and every second. Yeah and that's where lottery got to remember folks it is as much as we are producing we've increased our production oil. Remember that we're still a net importer we're still bringing in I think we buys from other countries as many six million barrels a day. A boy so we're still importing an awful lot of oil so it was in decrease that. That's good. But it's hard for us to get out of the ground. 27 I was surprise usually here battle packing your ever when cheating looks like they're getting record high. Compliance to becoming so all the OPEC nations are getting together and really actually climb Morton ever have before using him once she after it sent it's not happening is they're sending their kids to MBA programs in the states. AD RB I keep it. If you go to grad schools across the country after the year in Texas California New York Boston. A lot of those kids that are in grad school good grad schools. Are from the Middle East OPEC countries and they figured out the game you know it's. Stupid. You can deduct these retirement community fees as medical experts is caught me by surprise I had no idea. That you know these assisted living facilities and if you drive through your community. The year your every town seems to have one or two. Retirement communities a lot of expenses. With these communities are facts tax deductions even if you're not explicitly receiving medical. Help from these places so you know a lot of these facilities you end up paying you know. Nor why buying 400000 dollars is kind of the low in the eyes of what I've seen as well it is around here. If I in fees and go to a nine dollars and even a portion of that initial bombing in the can be tax deductible to you. Effort for our facilities and and usually what you know do you buying in plus a monthly fee to your level of care and a portion of both the initial buying an end the the monthly fee. Is tax deductible you and it's actually. Not as much based on how I guess economic health care you're receiving but rather how much health care facilities hole per. So that was that that was a little bit of news to me you know clearly good reason to have eight good CPR's guide. If year if you're dealing with those silly questions yesterday and he what you wanna do lose if you're thinking about going into an assisted living facility. Have talked your accountant and then when your interviewing the facilities ask them. What percentage of this is related to medical in terms of all your expenses so fear. Like some of the units you actually bought. Yeah in in so it's not an act it's not a right now your your paying a million dollars to buy a Condo or something in these communities. But in others you're paying in interest the so that first year you might have a tremendous tax deduction if you do. That would be time to maybe harvests and gains by tail on the if I know gonna have a a 500000 dollar tax deduction this year then on gonna sell some stocks that are highly appreciate it needed timed yeah. And you don't they'll make a move that talk in your tax. Why Richard Taylor. Matters to investors you probably heard this yesterday he won the Nobel Prize is an economist and its interest in his behavior. He has a behavioral economics is. I would more interest areas. Maybe perhaps breed they'll areas that most people. I like what questions he asked field kind of get then get them thinking around this so Tucker it's. Answer this question I'll try. If you had a one in 100 chance of our out OK if you don't wanna 100 chance of death how much would you be willing to pay to eliminate that one chance. A fair amount I don't know she's. Hundred. A hundred dollar that's evidence enough that he can what would you need to be paid to accept an additional one and 100 chance of being. I handle this we're questioned a lot more than what he would be willing to pay I guess. So I mean logically economics says that no you should be willing to accept the same price as paid the same prize today and eliminate the one and that was one big test used to. Basically point out that the entire theory of economics is just false and based on false premises. But very very ancient person that really you know modernized economic theory and one of the big reasons you know if you think about your 401K plan for instance and one of the big reasons most of them have an automatic. Opt in scenario is because of him if he brought up the fact that people are not. Logical intelligent and they don't do things by thinking about all of the options. Well even with the auto enrollment though you're not getting the numbers you need. It in in people are retiring broke our. And I think what you're gonna see this is it this is degenerate this is a problem that the baby boomers created actually was named baby boomers does. You know the the elimination. Pension plans started to currently 1980s early 1990s. That gladly went. Well I'd say that's the great generation anyway easy. Because they were in control they had all the money they baby boomers have all the money today at times greater. And I ice ice I wonder you know when twenty years from now. When you re reading about all these baby boomers are even not even 25 tenure for. You'd be reading about baby boomers millions of them. That are living in poverty in your generation. Is going to be saddled with the bill what do you do not gonna let him die in the street. I mean what I night. I think what you're gonna see is massive expansion. Assisted living nursing facilities. That are publicly funded. That's seems to me that's what's going to happen because the number of people that are retiring. Only on their Social Security. Is the majority. Would vote and moving in with their kids. It and I don't count on the IR I write my point is they think that's how he used to. We in families and I'm used to be multi generational you would have. It wasn't uncommon to have three generations living and how sometimes for rent and living maybe not in the same building but in a compound. I don't eat you you talk about the public. Offering. The cost associated with that Michael is so high I don't know if there's an appetite. And I might add what I was apt for where it's coming full. Cycle on this was. I'm not sure 41 K plans worked. Unity you know I think you've I figure generation me and deciding that yeah the whole option now the of the 41 K plan. Didn't work in and were saddled now with 40000015. Million baby boomers who broke Livan in the streets crime poverty. So what we what you may see is a four reversals so you may see 41 K plans. Maybe still exist. But companies going back to the idea of even if you work for company for three or four years union pension simply because the government is gonna say. Where security your generations and say we're sick of pain for easel broke people meaning me. And that fattened up the threat talker of your mother moving in with you. That should be your father moving in with you that that should be enough to motivate you to require companies are prepared and well I don't have any ropes. The another group that's what I was asked that's RSS assume that it is about you know paying for their dad their son or daughter's tuition and now. Justin would you rather than you you pay their tuition today your would you who they were that you move in with them twenty years from now after they graduate college. Pay up next we're going to be talking to. Adam Shapiro from the Fox Business Network talk about whether this tax plan from the trump administration's actually gonna get through congress. By the way that is our poll question today 36% of you. I think that the trump tax reform bill will get through call congress 64%. Of you saying no it's not gonna make it. Adam Shapiro he might be a delay in some insight to that topic that's next from the funny to 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 network. Are you financial advisor who lacks a formal succession plan you're not alone according to investment news 43%. To financial advisors are over the age of 55 and many have no contractual agreement to care for their clients once they retire hi this is very are strong and we might be interested in buying your practice you worked hard but now it's time to find a successor the -- drug advisory group is a regional firm and we are looking to grow our business through acquisition we will consider both our ace and transactional oriented firms with a solid stable of young advisors who will put your client's needs first and provide them with -- service and attention to which they've become accustomed if you're interested in talking with us please call me at 803934. Zeros -- one that's 803934001. Or visit us online at Armstrong. Advisory group dot com securities are pretty securities America incorporated members and SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. 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 million 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. Planning for retirement is not an easy process there are many factors to consider such as contemplating how much money you'll need to enjoy your lifestyle there's also the concern about legacy planning and health care costs it's like planning a Thanksgiving dinner and not shopping for all the right ingredients this is very are strong and if you're close to retirement you need to get my brand new free guide called retirement readiness it's only available at my website Armstrong advisory group dot com this guide will answer any questions that you may have about the retirement process and it will include your very own retirement checklist seat can make sure that you're hitting all the right boxes this guide is available exclusively online so get it right now at Armstrong advisory group dot com that's Armstrong advisory group dot com. 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 with a one point 15%. Annual percentage yield this is an online product only and there is no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice and don't delay log on to leader bank dot com get all the information about this great offer and sign up today before the rates change get. Free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. The financial exchanges live on FaceBook and YouTube watch Berrian chug discuss the issues of the day and see which one smiles the most. Days as the financial exchange radio network. We're just talking about 401K plans vs pensions. And it turns out our next guest mr. Adam Shapiro from the Fox Business Network studied this very topic for a couple years. Adam welcome to the show. It is very so did we make a mistake replacing. Defined benefit pension plans with 40 in case. OK so I'm gonna give you personal opinion here which. You know I'm reporter and I can be wrong to display it and yeah I think we did because 401 k.s historically would never intended to replace pension they were to supplement. Defined benefit pension plants that. That's what happened is they did replace them because the burden of it in loses you know unrest on some company. So became easier to do 401K. But they were not intended to be that urged. Well and I think the the problem there at least I think we're gonna learn in the next they were pregnant alert start learning lesson really hard. In about five or ten years. Is that people that were weaned off of pension plans and placed on a 412 days in fact did not say in his foreign. Let and OK so very quickly there's a bookie can get right now it's only seventy pages than an hour to read it. Risking retirement. Spoke out but Tony games the Blackstone he wrote it along we did. An economist. Am I can beat her name right now which is over the news will be your bottom line. The majority of Americans who have access tools for a what can I think it's only 50% even have access to. Of the 50%. Less than 50%. Fully funded. Bottom line. Retire. They say in the book in need around 30400000. Dollars in a 401K retirement and tick tick off the kind of I'd values determine annuity monthly in community in retirement from the pro Qaeda supplement social security and anything should. Most people retirement of scrolling K have about a 100000. So at a what are you what are you young people than to do with my generation that. Didn't save any money in his broke. Could keep you working yeah. Think you're right I did you know it I think that's somewhat sarcastically and acted it out but is that happening right now. That's what we we we witnessed it every day. You see people who would have been retired several years ago are still working to an end and I'm not making a judgment call about whether we should have pension plans or not doesn't. But the the private pension system is extremely. It's much different than the public pensions system. Which is starting to force that the public pension systems and not masterly collapsing. But the State's politicians for using newspaper columnist. At a public employees that they never funded. And that the current taxpayers. Are now on the hook to fulfill those contractual obligations like. Illinois. Connecticut Massachusetts eight that's a nightmare coming but it totally separate systems but we are at a retirement crisis it's not five years out here. We don't know it'll be interesting to watch out gets dealt with the because it's. It won't be now and hey we don't deal with these and I'll buy that I I would this year it you'll get too personal about it but in my own family we had a an issue we gave my stepfather and things are very expensive and is really. No way to do these things except the burden of out of pocket and hopefully at least in pool resources together as we get. You know everyone and but but not everyone to do that. No I think that. Hey you know Adam we we had a poll question today which was will the president's tax plan. Ever get through congress and the numbers you know we have a conservative trump supporting audience at 33%. Think he's gonna be successful getting his tax plan throw off congress. Yeah I age that 33% as optimistic here's the deal. Goldman Sachs say in 65% chance. We don't see the plan we don't know what The Beatles really aura of the plant and so here's what has to happen in the next step where in October to October to. We still need that sent it to pass a budget resolution 2008 team. In order to pass tax reform well they're not going to be back there this that of the session this. There is session next. But this may pass the budget resolution actually they did have to go to conference committee with the House of Representatives and come up with a new budget resolution after hammer out a compromise bill. That both chambers have to past let's assume that'll happens the last week of October maverick when he there. We've and a half to introduce. The legislation that's being written by the house Ways and Means Committee chairman Brady. And then we have to have markup insert talking about what this really means and what is going to happen that gives them in the month of October but remember it's not Almonte. We only have roughly 4142. Days in which the senate ouster in session until the end of the year. And that's Imus oh and by the way we have to come up today either continuing resolution. To fund the government December 8. To have to deal with that issue they'll take the yeah it is scaling down on the road again he's a lot of think that it and attacked. OK so Lee we don't get it done a year and but what about Q1. But there will be helping tax that's an out call it whether it's reform reduced tax cut I don't know that there will be some contact. He's watching all of this you know we talked much embrace because he's the most immediate that watch Mitch McConnell Mitch McConnell keeps saying tax reform this congress. Not this year which means next year. Yeah but he how's he gonna deal with guys like coworker and McCain I mean these guys hate him. Yeah court worker hates. No he does not he does not only you know like he's an acute with president well he remembering endorsed president trot yeah I know they know so they just throw rocks at each. Right yeah let you know that if it. Throwing rocks in Washington DC at least have a view and he pitched it out it's. They don't hate each other they have huge disagreement right now and has to be spiteful and they can be Eddie of course the politician now I. If he's dedicated to the quarter when we were all in kindergarten but I. Besides that. You know don't put it beyond either of them to do something to get something done how it. You raised the point that there are several Republican dispersed. And it lower raising very serious concerns about what's been proposed and we don't have egos of what's been proposed. You have pretenses and call. The main that's not a wealthy state you know my vomit from Portland Maine not a wealthy. Got to debtor state it's a welfare state. And they want to age he's concerned about repealing the deductions for state local taxes why because they have an auto excise tax. At a time I don't excise tax could back and at that you know if if you're. Not everyone itemized as any more like 30% of people itemize but you know people in Maine middle class people itemized. And take that product that tax deduction but that. Dish is supposed to she's upset with what they should oppose which is ratings she's. About it night it's gonna be tough to get through today he's gonna have to get some democratic senators quite a few of them I think. So we've we're talking there about a hike camp. Match and our human nature as a secretary of the treasury about mention yet I'm blanking on the third which has. Is gonna have to get them but Chuck Schumer and you know he's gonna keep you know attempt to keep his conference that caucus. Very tightly controls so whether the president and yet. Democrats on board and we that he. A reconciliation measure the I don't know what is the date got John McCain think what we need at committee period we need to bring the Democrats in that way. If McCain succeed she might get Democrat. To leave mr. Schumer and actually do this the traditional. And Adam thanks for your time pursche out of Adam Shapiro from the Fox Business Network talking to us about. 41 K plans and whether it trump tax plan make it through only 33%. Of you think that it's gonna answer I. It's I I'm much more optimistic than 33% Hampshire and south IQ let's abide by the end of march he got to give this thing time I I think it gets through. And I think he ends up doing a lot of stuff. With Democrats and I think he reaches across the island says would you want you want to make a deal he lets it down and history is being deal making president. I think that's an audience of doing. Coming up well we're going to be talking about robotics from the financial exchange ready and. 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 buyer 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 god guaranteed by the bank and may go down in value leader back a step ahead. Planning for retirement is not an easy process there are many factors to consider such as contemplating how much money you'll need to enjoy your lifestyle there's also the concern about legacy planning and health care costs it's like planning a Thanksgiving dinner and not shopping for all the right ingredients this is very are strong and if you're. Close to retirement you need to get my brand new free guide called retirement readiness it's only available at my website Armstrong advisory group dot com this guide will answer any questions that you may have about the retirement process and it will include your very own retirement checklist seat can make sure that you're hitting all the right boxes this guide is available exclusively online so get it right now at Armstrong advisory group dot com that's Armstrong advisory group dot com. And in order to make sure that your process goes as smoothly as possible he need to deal with an expert Tug blessed to be a partner with the law firm of Cushing in dole and host of the legal exchange radio program has been helping listeners like you for thirty plus years he knows how to prepare your trust and keep your assets safe this month and has written a brand new guide called designing the perfect income only irrevocable trust in it you'll learn about strategies to undertake what preparing your trust as well as specific language that must be included in order to protect your assets from probate this guide is available exclusively by visiting our website legal exchange showed dot com. That's right. The only way to get this guide is online so head illegal exchange showed dot com click on the guides and articles tab and download your guide that's legal exchange showed does come up. Legal exchange show dot com. This is a special announcement for a landlords chasing down only rent payments and making trips to the bank to deposit checks take hassle out of red day with zero 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 would you rent your payments three Jupiter is the ultimate commitment to go to WW dug see rent dot meant to learn more or call 7816 or 18691. Very Armstrong here and I'm joined by vice president Jeep tool from leader bank. We're talking about zero rent this is exciting because zero rent isn't method for landlords to collect their rent electronically. But there's now find refining Jane that it's being widely adopted by Condo associations tell everybody was he rented. All right so he rented the product we innovated leader being. Comedy can be found it WWW duds he rent dot net and it's essentially. And online payment technology that allows landlords to collect the rent electronically and it's. So there several advantages first and saying goodbye to being reliant on the use Postal Service. Good night to delays in the mail and no more need for paper check right where Israel and a lot of millennial Estonian have a check. We're getting that all the time lame or will call in and sign up because his tendon saying you didn't checks the where this really starts to get funnies when you you're in lowering you have. Multiple tenants living in units grad students your university. Well right now they're all writing multiple checks and sending them in and Perot in order a source become confusing pain in the neck so would you Reynolds who has it will actually deputy each tenant can individually. Matches it's and one team that unit the landlord. And then of course there are reports in notification that electric stuff but going back to your question a Condo association's a lot of Condo associations have been using you aren't as well. Because the Condo. Payments that kind of the shirt to every month at the scene so they've been signing up and there's a version of the rent for condos. I'll be darned well sounds like a something that you need to learn more about folks visit. Zebra dot net to learn more that's a website address or call them at 8776917900. Toll free 8776917900. Why collect your rent or your Condo fees with paper checks. Get with the modern age go to he rent dot net or call them toll free 8776917900. Markets are. But questions remain about whether or correction is coming we've got you covered every day with what's not and what's not from Mike Armstrong. Mornings at 1030 only on the financial exchange radio network. Well car accidents happen and in California there have been 31. Automobile accidents in 2016 involving self driving cars happens is these via your car because of so when they see a stop sign in unlike. Talker they don't do rolling stop. They go to the stop sign they stop fully stop to yield is great assistant assistant it was a little bit. But a robotic car does it seem like humans and robotic car BC stop sign. They stop in and they make their turn they do it at a gradual basis well all the accidents involving robotic cars typically are pretty. It's about. That they also know they've been having to make a few adjustments three's yet they are running into these issues where they just don't they don't drive like humans in do other funny things like though. Take a corner really really tight. And it pretty high speed. Whereas you know most human resort you know take a wide turn and slow down a little bit wears on maker. Is gonna turn real quick and and you know send all the passengers slid demonstrates seat he had the what this demonstrates with it the modest amount of testing. That is going on as a release Tutan scars when it demonstrates whose. That it's really hard to integrate computers with human beings and it's and it's going to be. When he finally try to do this it's going to be east cease and nightmarish stories. Elated this technology. Yeah if fortunately all of these actions that it happened so far none of them have been you know going high speeds on highway and essence technically it's all been really slow accidents at intersections as those of the confusing thanks yeah you know travel staying you know Wayne while going sixty miles an hour or braking because the car for an abused breaking. It's pretty simple for these computers to figure out. It's these you know three way intersections who goes first and you are going to slowly through intersections they get side swiped. Is really where it's creating the issues. And yet that's gonna. That's going to be I'd be awhile before they feel that sort of thing. Bank of America used to be the largest bank in the country based on deposits will they lost that title to JPMorgan Chase yes so going back to 1998 they held that title and just recently JPMorgan surpassed them native reached one point 31 trillion dollars in US deposits. Deal to scale there that's 11%. Of total US bank deposits let you take a look at the biggest for US banks they include JPMorgan Chase. Bank of America. Wells Fargo and Citi just for banks. Those four banks control 37% of countries to pause that's truly amazed I bankrupt nightmare about ticket just. Is just from talking to people citing that finding a lot of people. That are getting away from big banks just they wanna go bank local finer justice smaller regional bank that's gonna provide them slightly better service. Nine issue has been is I've tried that out and he gave up a lot of technology. Oh go onto their website and it's just not a good experience you know I can blog onto my. And I BankAmerica application on my phone with my fingerprint very quickly movement era. And the most important thing is all my you know my bill payments are artists and that makes it hard to move it sure does hurt us they. You know many of you currently imports you know you might have a few buildings out your holy cross that you rent out to college students here. I don't know maybe Europe and Durham New Hampshire in your written out to you and eastern students. What are things you'll learn as a landlord is that the people you're renting out too often times a younger in the don't have a checkbook. That's why you as the landlord need to sign up for 00. And is a program. It's a website and it's zero and not dot net to learn more about it but he is zero rent allows you. To collect rent from your tenants electronically which is really the way you need to deal. Looking for you don't want a collector rent with paper checks anymore that's antiquated and the consumers don't want they don't want to rent from you. If you can't collect rent electronically many of the people that you're renting to college kids in particular don't even have a check. The eight the don't have paper checks. So what you. If you'd like to learn how to do it all I had to enroll in electronic rent collection good as he rent dot net. If you wanna talk to somebody your old fat he says I don't want it just go to the website or talk to a human being. You can call them here's the phone number it's 8776917900. And its leader bank's phone number. 8776917900. All the details on the program RC red dot net. But it ought to learn more about what just wanna figured OK how to lie. You know one question that came up yesterday it was how to lie move over does he rent needs leaks with one of my tennis without talked about that and how you would go about it anyway. Leader bank is offering zebra dot net phone number is 8776917900. The gap between rich and poor continues to why this according to the Federal Reserve. Yeah I mean shouldn't be any sort of surprise here its its talked about frequently but the share of income Coastr refused dancers share of income. How by the top 1% of households reached 24% in fifteen matches up from 17%. Back in ninety air back in 88. And the share of wealth held the top 1%. To 39%. Between sixteen from 30% in 1980 so just to put that wanna think about that from 1% of the people were population of what to. 330 millions of them like some three million people have 39% of the money that's correct one of the total wealth. And it just growing. And here's. If if you don't care about this for for other social reasons during that's just think this from the economic perspective for. The top 1% when you earn an additional dollar in. What is their propensity to go out and spend. There that we are more likely to say they say they the when your in your thirties and forties you get used to a certain standard. Rate yet in your fifties you make it big money. You don't change in your living and he still live like he did when your 35 years old. So that's why they're able to save a lot Mormon and you know it IE I I I know a lot of people are in that 1% group. They drive crappy cars needles than a lot of money on people likely just the seat in the invest the and they take that money they'll buy more stocks. At a wedge last recent why do you drive such crappy cars eat eat you know he's he's a different mind he has. You you always eat your employees drive much nicer cars and you devices that you know it if I have an extra 50000 bucks and visa card rather buy stock. That's just the way am. Problem though is that that's those and the okay if if you're just saving higher percentage I mean you've seen this in other in the typical scenario is Japan. This is exactly what he signed up in Japan and two new decade the last decades Japan. These numbers these ten numbers revealed the average American's financial help how do you compare. This is kind of interesting to see how an average American's average American. As a net worth of 81000. That the median network says that's important caught the media talking about the difference between. It very high net worth some average net worth I think it's you know hundred actually happened million dollars but the median. Is 81. Speaks again to that 1% number. The average mortgage debt per capita is about 31000 dollars that that's that seems well it does unity thing about people in the northeast. I mean people who you know my age. They're still carried a million dollars for the you know what I think that really speaks to is the number of people that don't own home. All because this is saying the Arab world war double per capita based on the population with a credit for eight. Meaning you know there's that includes the 38% of the population that that rent. Properties which is growing. Population a lot of older people don't have anymore. He you talked your grandparents David Edwards in twenty years here's what I don't like average honored 4000 dollars for the CNET and it's pretty bad. Yeah. That's. I would bet if you I'm more concerned about the credit card debt and the and the auto denture of his credit card at least auto debt. Yeah car EE and get a means of work. With credit card debt what do you have for that usually enough right that dinner around the TV system vacation suddenly yet. I'd average credit card that's almost 3000 bucks yeah that Allen's that was quite concerned where I see the our debts I bet that number. A decade ago was half. And now I'm guessing that data is half that number. And at the interest rates are about the same level in interest rates come down significantly since last yours. Dollar loans that scares me. Now dollar the US dollar rally. It's we've we've bottomed out back in September witches and one of the key contributors stock market you need take a look at some of these companies that are. What's weak dollar is good for stocks the stock market has pulled back. It is not it is not uniting there's some other fundamentals going into this. But really what happened is you know obviously the Fed to go very aggressive stance on where they're playing and goes with interest rates and you combine that with you know the discussions around a tax overhaul bill in people flooding towards dollars. Not to mention some. Pretty ugly stuff going on your yeah program adult cattle and colony of paying there yet today he's on a whole. They're not matter resting the the leader of carolinian. Bill will see action happens there and then also with. Yeah it certainly Merkel won the election but she lost a lot of power and that's concerning investors as well about Europe so. Dollars. Flipped back a little bits over the last few weeks and we'll see how the stock market reacts that. Tucker we have an interview with Jim the coolest from lifestyle delivery systems yeah it's a candidates a company that recently went public in May have this pretty interest and prior to ever. Use do you like Listerine strip or something. Though the though breath men's that he remembered and yet. Like middle school yeah it's like Edward it's basically like amends but it's the strip but you just put on your time it says it dissolves in your mouth yeah is that how you gonna get my candidates going forward. Possibly I mean they invented the party that you can tests haven't that's. Could help. Yeah I mean is it's pretty cool actually I have no smoke so we're learning about to hit it next segment is talk about. Wheat and canvass that's right marijuana who would good it would internal and I'll treat treat trees that truck was here coroner. Anyway that is next from the financial exchange or do you network. The financial exchange with Barry and chuck is alive on FaceBook and YouTube every morning beginning at ten this is the financial exchange radio network. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I'd -- 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 woody one point 15%. Annual percentage -- 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 delay logon to leader bank dot com get all the information about this great offer and sign up today be for the rates change get free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. Member FDIC a minimum Alex fees may reduce earnings rate subject to change without notice and may change after an account is opened. Planning for retirement can be a complicated process many factors need to be taken into account including how to protect dresses from probate. And in order to make sure that your process goes as smoothly as possible the need to deal with an expert Todd let's keep a partner with the law firm of Cushing in dole and host of the legal exchange radio program has been helping listeners like you for thirty plus years he knows how to prepare your trust and keep your assets say this month to hundred no brand new guide called designing the perfect income only irrevocable trust. And it you'll learn about strategies to undertake while preparing your trust as well as specific language that must be included in order to protect your assets from probate this guide is available exclusively by visiting our website legal exchange showed dot com. That's right. The only way to get this guide is online so head illegal exchange showed dot com click on the guides and articles tab and download your guide that's legal exchange showed does come legally exchange show dot com. Are you financial advisor who lacks a formal succession plan you're not alone according to investment news 43%. To financial advisors are over the age of 55 and many have no contractual agreement to care for their clients once they retire hi this is very are strong and we might be interested in buying your practice you worked hard but now it's time to find a successor the -- drug advisory group is a regional firm and we are looking to grow our business through acquisition we will consider both are hiatus and transactional oriented firms with a solid stable of young advisors who put your client's needs first and provide them with -- service and attention to which they have become accustomed if you're interested in talking with us please call me at 803934. 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Financial exchanges live across doing it every day if you can't hear us live from ten to noon. Download the I heart radio app on your phone or tablet follow us where you're able. When you're able just search for the financial exchanging can hear individual segments are full of shows when you want them. I proof that millennial says the screws. And it and if it several screws our rights. Domino's Pizza. Papa bell and Starbucks have all succeeded. In changing their menus service messaging in store design and technology to meet the changes consumer behavior brought about. By younger. Diners leading rivals in the dust so. I take that to mean. That bullet deals. Eat Domino's Pizza which I would rather eat the box and somebody brought dot I like somebody gave me a dominant. I would say yes it's an inevitable. I got her out but I understand I mean I haven't had Domino's since you know my college days at 2 AM in the morning on a Saturday or what exactly they're feeling terrible day go Taco Bell I'd I don't know that I ever been to talk. I mean since about I be bitter talk about lately though night I have an odd telling when or even trade violent. Yeah I've driven it look nice I drive by went quickly that look nice variety of people I hang out talk I mean they they pretty much remodeled all there talk of bills to be kind of water and clean them that look good. How's the food that most don't same. Still saying here's our start appearing to start sneaking Domino's Pizza in boxes but it beats NC area I would I would notice I would I don't think we're and we're gonna do a double blind taste start this happens again. How how much do you guys spent an average ticket cost in his three dollars. From wondering. Yeah I mean if you're getting ready regular coffee at Starbucks sets to 629 you would to advertise for an up and down and on economies are you know. Unfortunately. Our box people like I can order my phone I do not drinks are up against Starbucks right I'd clearly the doing something right because a lot of people are spending three dollars every time they go into Starbucks and there's been. Really I mean. I don't understand the dominant up about these customers this places it. Clearly they've got vary hooked customer base missed you spent this is. The stuff up. Millennial spent 92 billion dollars on food away from hole in the year 2060. Food with such as nuts what do mean just take out remain in the restaurant at rest classics yeah. It's allowable any school out a lot boomers don't use. You know we don't bouts of wealth we're dying industry mean if you take a look back. Forty years now when you die. They drove up from the 1980s and 1990s they pushed total food restaurant sales. From 1990 to 2000 from 43% to 47%. And it's pretty significant growth by a different generation. I mean I know us and some people. In my age group potato like four or five times a week which is and worry too much I'm gets taken out on Friday or Saturday at one of the two that's pretty. Generators for the difference to. How much to go to school out for didn't like it because of my generation we like to go to nice places have a nice dinner. That's a pain in not necessarily change decades yet. Like a nice dinner. Twice a month. Bench twice before I have before I'd cases probably. Yeah two to three times a month now it's maybe once a month. Here's a bit different steering with a take out with the takeout and you have a much higher percentage. Two working people in the council states. Yup so giving you an example my my family we neither of us. Ever get home before six. And we both leave the house usually by seven dissent there you do in the eleven there to 1112 hour day yeah. My when you include the commute united mr. arrogant know before six and then you know you talk about cooking a full meal. Do you deliver your DD taken you do take. Perhaps tonight or. He's not available it's available. I received wide you know what about some drive forever. Running program about. GM's conundrum too many factories. Making slow selling cars and unfortunately a lot of these factories or North America via so GM. Obviously shut down whole Lotta factories after the aryan bankruptcy proceedings factor in the financial crisis. At this point there operating was it seventeen. Seventeen vehicles and the plants in North America and in utilization rates not bad it's 95 point 1% so and look you when you measure them right that means their run in their two shifts. Yeah I'll take a look at compare that to a Ford or Toyota these places are running 24 hours a day three shifts a day yeah hundred. 10% 105% utilization rates compare that to GMs and there's not competed. You know they're really they're just not what they're not competing. In the United States in the making quality cars in China and in Mexico ending can't it's a new face of this really tough problem. You know how do you stay on the good side of this. Government administration of keeping your plants opened in the United States. Is actually make money trying to compete with Ford and stockholders ruled the roost that's right. Me it is the you know government can say whatever they want but the investors are gonna get what they want simply because the only company. Yeah I wouldn't be if I were him building one of these. You know two door sedans and one of these factories for GM I would be pretty concerned if you're working a pickup truck plant you're Silverado sold creek side all the data tracks are just an off shelves to their lineup the cell shelves at 250 gallon. Were they what happens to pick up truck sales when gas is 350 what happened last time. You know me he couldn't give away a suburban communities that he couldn't settlement aren't you bored by you know buying your Prius use. The price of crude oil was up a dollar 24 per barrel today fifty dollars and 82 cents a Dow's up 31 points NASDAQ off eight. The S&P 500 is up one point. You've been listening to the financial exchange with talk herself a Michael Armstrong in any area. From the financial exchange Libyan.