Oct 19, 2017|
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
This is the financial exchange with the Barry Armstrong and chunks are now. You're exclusive look at business and financial news affecting your day you're sick leave your world. Stay informed and up today about economic and market trends plus give breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. The National Football League on Wednesday revealed its strategy for managing the festering controversy over National Anthem protests. Run out the clock despite mounting pressure from sponsors fans and the president. The league decided not to change its rules in a way that would penalize the protests in effect betting that the issue will. Quietly died down on its own that's the headline from today's Wall Street Journal hi everybody it's. Berrian truck with you here on a Thursday in. Idea. Actually think they may have made the right decision here I don't see that they were in a lose lose situation. With this whole debacle well keep in mind this issued pretty much died out until the beginning of this season heroics three players in the pre season there were actually doing anything. And then the whole thing blew up again. Rated the beginning of the season right after the present time made a big deal about so. It was on the verge of kind of dying out and in not being a story that attack it it came back and so. Many people of course are saying are they need to stand and you know the the president tweeted yesterday too much talk not enough action stand the National Anthem but. Remember there's two sides to that trade Nady you've you've got half the country feels that they should be standing for the National Anthem being cut the other half say and no they shouldn't so that's why I think the NFL is taking the position they're taking that they can't win this. The and I think the NFL's looking at this from a business are absolutely okay. And the NFL can't afford to lose to players that's the big thing is to player's league folks it's you know the NFL is treated players pretty poorly over the over its history and you know if you look at how they've treated retirees in particular. That you know the the lack of health care and so forth they've not really been in the player's corner historically. And I get the sense that this is the kind of issue that of the NFL that said look we are going to do this is done. EU lose a lot of players in those locker rooms who may say fine we're not gonna play it right and it and then there is no product on the table so I think the NFL saying look. We can deal with you know 10% ratings drop we can't deal with not having game. Threaten other their viewership is off seven and a half percent. I was looking at a story as it relates to. Merchandise sales jerseys caps coffee whatever it is down related deaths are down 20% merchandise sales off 20%. So I wonder if they hit to the lead. Isn't greater than what they anticipated and I think eventually chuck I think eventually the players are gonna realize you can't you at least this protest thing. Is reducing our soured because remember the players get about 50%. Of the total revenue. A belief that puts a lot I allocated in terms of caps. For about players' salaries so you know if all the sudden it would it would of the gross revenues of the league DC 2000000003 billion dollars not thirteen. Thirteen billion a year yeah okay so if that thirteen billion numbered goes from thirteen billion down to eleven billion. It a lot less money for player salaries. So looking out where the other revenue comes from because this is near and one of the big questions you know what where does the revenue in the NFL come from it's it's not. Deep revenue primarily at this TT. The data that I have this is from. The Green Bay Packers it's a few years old just. It there'll privately held entities that we don't get a whole lot of information. But this from the Packers from 2009. Okay. And in 2009. And that's what their public has told them they still are you know what that did that and a public company they're held in trust and in this the season ticket owners. Oh in the company. And so the Packers back in 2009 it's obviously the revenue figures are going to differ now. Debated somewhere in the ballpark rat 240 million dollars and rapid. Okay from all sources. After 47 million came from tickets okay so about 1516%. Comes from tickets 47 at 250 yeah an outcast when he pursued to bet that 94 point five. Corruption TV and radio that's primarily the national deal suits are where's the rest comes about 40%. Twelve point eight million. Came from mob box seat sales okay that the licenses and so why we need consider that tickets or not it this is a separate think he's got tickets it's like you pay for the ownership of that box of actively. 36 point five million came from NFL properties I don't know what that means that's the the jerseys it's no it's not marketing pro shop is 43 million. Now okay. So I don't know what NFL properties is but marketing in in the pro shops so merchandise sales work after about 15% of every team's revenue on average somewhere in that ballpark. Okay and and they get a little bit from you know concessions and so forth. But. It is something if you see revenue BO. Four if you see sales more merchandise off 20% the net teams and hey we get 3% less revenue coming in like that's something that it's it's affecting them. Well in the sponsors are going to the teams and saying yeah we're we're gonna cancel our advertising. We we don't want our name on the stadium we don't want our name. Along with sidelines because we're we're taken too much heat that we haven't seen that yet though. You know you're you're you're hearing on a national standpoint we haven't seen that -- yeah what you're hearing is on local base number that yell Miller story yeah I mean that's whatever at the local fine I mean the biggest sponsor of Abdullah has old spice and they haven't done anything but that's how it starts talker right you lose a few here and there on the edges and maybe it just perpetuates this. The the question is. How loaded the ratings go because remember there still is nowhere else that you can go and to get a guaranteed fifteen to twenty million people watching. In seeing the ads for your product and then so that's what you have to remember about live sporting events is the companies that are advertising up. There's in the same look where else my gonna go that I can get someone's attention for three hours it. There's nowhere else. Beat this thing that they have to be careful about this is where the advertisers are walking that fine line is if all of the sudden the the protesters either side of the trade about the way. Say we are no longer gonna buy Budweiser we we're gonna boycott but Budweiser we're gonna boycott shanties we're gonna boycott forced. Then that then that's going to impact because it finally advertiser or just say you know what. If I'm at risk of being boycotted I just pulled Lance altogether and I'm gonna. And and it. Other run out the clock down and I'll just stay on the sidelines and won't advertise at all this if I advertise half by half the people like me happily lies and happened yet. It's the world I mean Cam Newton just lost Damon via a Joker count because of his comments towards a female reporter ready for this whole protest. So it hasn't happened yet howling it's gonna happen. Will seek to be it seemed like to anyway that's where they are NFL owners and butter wordage you Chris Long did. Now he donated the rest of his 2017 salary to. Education for equality efforts and he also begin a foundation so he will not be. Taking a dime out of its contract or to Honduras this year. Amazon's new HQT. It says HQ to headquarters to in your city could raise rents by over 200 dollars a month here at the cities where it cost the most and of course Boston right at the top of the journalist. Not surprisingly the estimate is that if Boston work to get the Amazon headquarters it would add it in additional point five to point 8% per year. In annual rent growth. Which could cost people over the next ten years between 66101000. Dollars over that time. Would be eight what's your perspective on the CDR most people that you talk to. Are they enthusiastic. About Amazon coming to town like I. I'm I'm very enthusiastic I I think there's Boston's got a better than even chance Eddie Davis good shot as any other city. Now of getting him is on strictly based on the intellect of New England region but. An armed people across the board did they enthusiastic. The pick we'll talk to friends and neighbors. The people who I have talked to in general seem to be at the moment okay what's interesting I was curious when I saw this story. I was just kind of poking around at you know we know where we're the place that Amazon has a presence now outside of their headquarters. So probably denies it okay let me let me take a look at Amazon. And see where it is that they're actually hiring. And the nice thing about Linkedin is that you can go in you can say OK you know pick jobs you know based on you know what city in this and that and everything right. And so when you go through and I'm gonna pull out now just so that I can Parse it. So they've got currently. At the moment wears I think that's probably what I know what areas they do some people win and others lose its Amazon comes to town so did the year in the US right now OK if you take a look at where they're hiring they've got about 121000 jobs that are open in the US okay. 7100 of those are on Seattle. 18100 are in the San Francisco Bay Area but the third biggest place at about 12110 jobs. Boston yeah. So and these we when he saved jobs Ito about warehouse jobs he talking about tech job I don't think do you warehouse jobs advertised on link to handle a whole lot when I take a look at what I'm seeing here. Program manager for Amazon robotics software development engineer graphic designer production associate customer service represented security architect security engineer senior software quality assurance engineer. Welcome bagel outside the United States would they have an easier time given. Our our position on immigration as a country right now would they be better off going to Montreal going to trot their trials on the list. I don't know me I don't has a very open door candidate in general it is it's an open door. So the the question then when you start talking back to headquarters all of a sudden if you're talking about into different countries. Is you have completely different regulatory environment that you need idealists and that's a lot for business to handle so I'd be skeptical that they go overseas. I'm just thinking if you're trying to aid because one of the problems are gonna have. He's recruiting computer engineers and computer scientists. To Boston writes anyone higher. A Korean kid out of MIT. But he can't get a visa. Right east allies in Jabil to get a visa because these it's a limited capacity right he's the number of kids that are allowed to stay in the country. We chase and out and we have the last ten years like to give up I haven't heard anything that Amazon's having problems. On like if if if it is then sure but I talked to companies in general track they they'd love to be able to hire more foreign kids that are going to school over what where where we heard any news this from Amazon like I haven't heard of any problems from Amazon. So if if there are sure I could see him having you know overseas somewhere but it. I haven't heard that from him being on BL any tech company is always complaining about not being hired a local kids. All all nose again I haven't heard Blake Amazon said we want to have a second headquarters and were primarily looking in the US of that suggests to me that you know anywhere they want you know a victim over 82 Canada what's what's the benefit to go to Canada. Again it would be to be able to hire kids from India Pakistan. The little Italy until he had a hedge currency like it that's a whole bunch of different cost there is all of a sudden. If if you're doing all your business in the US and also the Canadian dollar goes through the roof recently sent. Crap and we pay our people you know. Just circling back to Boston record grief heard about you know suffered downs is a potential destination and as I came across this yesterday out at insurance you guys. Apparently there's this huge developer. Who is looking to create a Smart city in Weymouth which is twelve miles south of Boston and am looking at the plans and it's it's pretty. Incredible what I'm looking at and it's a Smart city it's all buyer mentally for a friendly you don't run on battery cell panels and everything I'm like that's kind of attract been. I just think Paul Miles south of Boston and well there's I think there's twenty different submissions just from Massachusetts in large. You know trying to see the news to me being neat games when we come back we'll actually talk about how Amazon walks through. They're bidding process it's it's rather unique compared to other corporations. That is next from the funny to 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 without Marion just on the financial exchange radio network. 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 are 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 were with clients and all six New England states and have 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 securities offered to securities America incorporated member of an SIPC advisory service is offered securities America advisors incorporated burials are represented a strong advisory group in the securities America companies are unaffiliated. 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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 used to collector checks. With paper checks are gosh maybe still do will zero rent allows you'd collect checks electronically. Jail is hoping he could spend a little bit of time explaining how easy grant works and why it's a big advantage for landlords. Absolutely buried so we we develops the rain to underneath the hole right now because right now. You know with the landlord when you're getting rain checks. It's low it's unpredictable. Missing envelope the great line posts like you're waiting you might not get all the rent until the tenth or fifteenth of the month furthermore if your landlord on vacation your rinsing your mail box up to what he does is it really gauge they'll. It makes the ranked electronic payments and allows for roomy cheering for multiple roommates and apartments that's great if you're renting out to college student salute. It's predictable it comes at the same time every month. And it's all on me. So the landlords who have been using assisting huge time savings and ointment you are you still giving the first six months free for landlords the first six months or free and then in addition to that. If you bank at one of the participating banks he ran is always read. Those participating banks earned leader paintings don't messed me up at that any bank could sign operate they keep you at a bank in Vermont to Connecticut. They could sign up and become part is the rent yup you your if you have a community bank that wants to be a member happened Collison happened sign up and the service let me free free. All right if you wanna learn more about this he rent. Go to Z rent dot net you give my call you wanted to 8776917900. If your bank doesn't operate they can sign up for zero it. Go to zero rent dot net or call them told free. 8776917900. Security suffered through securities America Inca members finreg SIPC and 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 go to financial exchange showed dotcom and search for the station closest view this as the financial exchange radio network. If you're on the go you can still keep up with the financial exchange on the I heart radio app. Available on your phone or tablet just searched the financial exchange and you can hear individual segments or full shows if you can't listen lives we've got you covered. On the I heart radio app. Amazon. Is no novice when it comes to getting good deals you know the eight they're hiring apparently and hire a 100000 people lecture. In not the next year no 50000. Somewhere maybe 3040 all I know is that the openly seems that their opening warehouses and facilities all of the country. They have a unique method of negotiating. Packages with the states in the communities in which they here thinking about moving. Yeah what they do they've pretty much built out a team. That helps cities and states to kind of promote the kinds of things that they want to do in order. Did to make the deal sound pretty attractive to people in minority get the kind of tax incentives. That they want or need in order to get in to certain facilities an example. Is in Florida Bakken 2013. And this team helped officials in Central Florida. Advocate for allowing Amazon to build a fulfillment center. On what was previously agricultural. The center employs about 2000 people now. And they got five point three million dollars in tax incentives there but pretty much what they did is they went out and they said look we we want you to advocate on our behalf it's it's effectively lobbying they've built out their own in house lobbying you. It works really effectively because the is it's not. Like they're trying to reinvent the wheel know every time they've hired consultants that have done this before. And been on the other side of the traits is they know how to do it and they're getting pretty good tax breaks when they go whether it's Fall River whether it's north haven Connecticut. They're getting pretty good deal in place anyway our poll question today is do you want Boston to win the Amazon headquarters sweeps gates. Sweep stakes excuse me. Financial exchange showed dot com 85% of you say yes I want Boston to win the ends on headquarters sweepstakes out of the winner and it'll. Will be etched into watching ravine inching ride very controversial new bill will be winners and losers like anything else. Where were you thirty years ago today. Thirty years ago today I was in Tarrytown new York at Torrey worked at the time it was those black rims on there there was a lot of now I was in a crib and knew it was. It is that they I was devastated the black Monday stock market crash almost stocks went down 22 point 6% in one day. Put that in perspective for today's market with the be about 45000 by. I guess of the market went down 22%. Today. The market would be down 5060 points in one day now. That was before they head to a circuit breakers is circuit breakers came after the crash of decent. The FBI mean it still could have to remember those don't prevent people from selling for efforts designed to Kenny give people pause they can figure out you know OK what's actually going on in what's causing. Well and it takes out the some of the computerized trades he gives you time time to take out some of the computer yes trades or RD log yeah. It in that crash though in 87 loud people forget. You know we never went in to a recession. At that point GDP no remained positive through that crashed. And the market bounce back it all told stocks lost I think about 3035%. Of their value during that correction period. Yet if you go back to was 1987. US GDP back then was three and a half percent. You go to 1988. OK and it was four point 2% and then it was it was afterwards it was 91 where we went into. Will deliver session then where the US GDP was down point. 1% that was a bad recession track especially appear New England does yes no crisis right on him and he had a lot of banks and credit unions in New England. That's suffered badly. It and New England was you know that. Our region was hit harder arguably. In any other region in the country we we had a lot of bank failures at that time you know who's in charge of compliance after that. And after those failures Eric Rosenberg always a right now he got appointed in mid of the late ninety's. And his job he was a buttered it two lead to all the banks if they did not care for him. But he he made sure that they were solvent and that way when we crashed in 2008 if you were called very few New England banks were damaged. New Eddie we like you have really two or three day is really wasn't it was not. Not just Florida part of the country that had the biggest problem now Susie who he would not let them do some of these risky loan. So anyway it's at Tel wrote that's how long. Rosen grad has been around he's not being mentioned by the way is a candidate for pitcher. All the scene now he's getting up there reasons I'd say late fifties. I'd guess magical key sixty now. Sixty years old. He wouldn't be on the list he's not a Republican. Now the key beyond that was necessary doesn't match up in terms of regulation with the I think what what Donald Trump's looking for. The I don't. And I think he'd probably do pretty good job but I don't think he's he's quite with a look at. The problem is eight whoever is in that role we the people that Donald Trump is considering for fed chair. A lot of them are high rate guys and Donald does not want high rate seamless keep grow mortgage rates and lending rates low. You know they're hawkish yet about a guy like works if it works gets the job he's gonna raise interest rates pretty fast. In. To be us you've got some room to from a currency perspective as the big concern originally was okay right raise rates too fast what happens the dollar with a dollar sold off about 10% the secrecy you've got a little bit of room. Because of this dollar exodus here and it's pretty much what you Blake if you look back to you know when Volcker was out in the show him. Booker didn't raise rates because he but it was good for the US economy raised rates to defend the dollar more than anything else because and inflation rate you get it out he was really trying to defend the dollar just to keep people in it. The Dow is down 71 points when we come back we'll have a conversation about oil oil very quietly. Has risen to above 51 dollars per barrel area John. Making your Smartphone even smaller here Dell Motorola mobile lab by surging financial exchange shelf in iTunes or those who. Who played stores this is the financial exchange radio network. 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That's 8776917. B 900 find out why many of greater Boston's premier property management and real estate companies -- leader bank as their banking partner call 8776917. -- 900 or email BBO at leader -- dot com for more information member FDIC equal housing lender. And powerful Wall Street watch a look at the market's performance so far today you act of Marion jog right here on the financial exchange radio network. Mike Armstrong is now with this to talk about the biggest stories moving the market on Wall Street watched Michael start with Adobe Systems up. Eight point 9%. Must have been a bang up quarter for the. Yet you know it really was spent. Directly attacked twelve months for them it and they're earning respect commanders here at around five that the share which. Well beating analysts expect admit somewhere around 520 a share they also raised their forecast for 2018. Much really helped and over the last you know year or so has been the transition to cloud which is really helped boost sales stocked up over 50% of the last year. EBay off a couple percent they would stole none of them. Yeah they've reported earnings which were about in line and honestly so you know earnings were in line revenue was about in line to slightly ahead. The really issues on their Q4 forecast which. You know good news bad news good news is they're going to be investing in the air. Web site in their marketing the bad news that's gonna cost a lot of money so I think a lot of council look at this and you wondered it's going to be a payoff for that stocks down about a dollar chat to its record percent on. All right thank you very much Mike. I reject that is Mike Armstrong with Wall Street while oil prices rose yesterday for a fourth straight session to hit a three week high. On Wednesday this after government data showed a larger than expected draw. From US crude it's are you and this is on the heels of that EIA report. Showed a little bit of a draw down in crude stockpiles as offshore producers. Shut down as a result of hurricane Nate and tell you you know what this did used on a weekly basis the prior week if you go back to the data reported on 106. The US was producing about nine point five million barrels of oil a day by okay. Last week. Eight point four is all those gulf producers were shut down art would that hurricane coming to us through so you'll see that production bounce right back but. I looked at the data for Stanley Cup it was a million barrels production rate in in a week is that's a huge after talking met 10% come and offline it's temporary boats because that gulf production had a pretty much shut down just because the storm comes in their ballot two weeks away from you know it all back. On the refinery side or on the productions production. Production though we back I would imagine next week even. Legged it was relatively minor in the broad scheme of things and if you take a look at gas prices now we're down to 42 won a national average pretty much right back to where we were no prior to the hurricane so. You know we said it would it would be mid October before you'd gas prices back to normal. Here in mid October gas prices right back to where they were back in August. Are you you your wives do they go handing Tucker read you know fresh off of a wedding the once a while should do spray tan which is India and for quite aware of that crap that is so not getting in those beds and I don't have a year. Now. One in five. Weight women who go tanning are addicted to. Sad. And you know as it is there's almost nothing that kills you faster than doing this I'd I didn't realize it was so big in the country and OEM millions. Indoor tanning is a beauty staple for many Americans 35% of Americans having visited a tanning salon 35%. At least once in their lifetimes. The tanning bed market is expected to grow steadily into twenty team but the practice is more than skin deep beauty routine. Researchers say it's a dangerous addiction with potentially. Lethal consequence I guess you go into one of these tanning beds which I've never been in. But you it releases we should do this as show and endorsed you like a whole show from a tanning bed. What's really bad for it's it's all off it literally like injecting skin cancer and he. It's it's not it's it was in the carry these women. Get addicted to it because of the endorphins that are released and then they just they keep going back and back and back. It's on it's it's it's not good the before the rise in tanning beds Riegle said. Bet he would see women under the age of thirty with skin cancer. But now it's comic for him to see women in their twenty's in their twenties with milk melanoma often in natural outs areas. The sun does not reach her. I mean this is. You you will you do ask yourself that question. The rate is pretty much like cigarettes would cigarettes duty or long's this does dieters are battling there's an up warnings out there against tanning beds DO. Even just one exposure to indoor tanning is associated with an approximately 20%. Increase. In the likelihood of developing melanoma is Jermaine. To your point jock it's like they've taken appealed to its depth its if if I'm amazed when I hear people who do this regularly it's an audible now all of the place. They don't forget Cushing and Dolan is making available free guide during the month of October it's called designing the perfect. Irrevocable trust people wanna have a durable global trust that is not properly executed why. Well you may cause you pay state taxes may cause the assets that you thought you were protecting. To be unprotected if you like to learn more about how do you create and perfect curable -- trust you can call Cushing and Olin. Actually can't call yet to go to their website it's legal exchange showed dot com to get their guide. Designing the perfect durable global trust legal exchange show dot com. So did you guys know. That you oh Massachusetts. 1213 thousand dollar phone no did you know that it ought to know that now why. Because Massa you don't actually stuff. Well what it would mean his heels and I hang up your bill for your right here Tucker your bill is thirteen 1129. Dollars. That is the amount. That Massachusetts has underfunded. State employee pension fund. I earn. You don't actually after it checked the better ever pay or get better yes what you do have to pay ten or how come it's gonna come out your taxes you know you're less taxes like him to come out of Texas in increased contributions from pensioners will now what is the lesson that you've seen in a lot of places. We just talked about Texas doing that down in Dallas C think that they because I I pulled up all the states in new England and unfortunately. New England states are in pretty tough shape in terms of of underfunded pensions Connecticut's the worst or give my this total is all debts this is not just pensions so this is pensions debt and any other you know health benefits all that's included in this total. The worst state is a New Jersey which has about 27000 dollars a person which means they'd have to tax about 50% of GDP for one year in order to make that'll. Connecticut is the second worst in the country 2.2 thousand dollars a person Hawaii Illinois Kentucky Alaska. Massachusetts clocking in at number seven as you mentioned in Vermont about 7000 dollars a person. Rhode Island it's about 5300 person Maine it's 4300 person. New Hampshire 3600 person. I think that's a person I did. New Yorkers just for kicks in and its about 6800 dollars per person. And that's just simply a matter of what we have promised our state employees drinker directly from rob a weak front we've made promises. Two cops firefighters and teachers and said hey we promised to pay you 4000 dollars a month because of your service that we promised pay 4000 dollars a month. And we promised to provide you with health insurance. It's that but it's also including just the state debt as well you know that's that's what these numbers represented. In there to tally in Massachusetts when you look at where the biggest parts you know come from. Pension liability of the equates to about 40% of that but don't you isn't it reasonable to expect that. A state like Connecticut or Massachusetts is gonna have to raise taxes do you think they can do this all by just staying employed employed it depends how you. What kind of solutions you come up with so you can certainly BO did there's a few different levers you can move needed obviously raise taxes could really benefits you can reduce benefits you can increase the -- every dispute can't reduce benefits to people we've promised that you can reduce future. Likely right hire new teacher next year to music when you're on under different pension or even you know that we have to pay more into the existing ones you can say you've got to pay more in in order to get the near the cat and offbeat candidate. In most states he can't Illinois had problems of that Illinois they did not allow based on the state constitution but other areas you've had you know that kind of flexibility. But you can potentially change benefits schedules for new hires and things like that so. There are options via the you can use in order to get out of this the thing to remember is you know if you do see increases in tax revenues that come through. In a different dot companies decide to come if Amazon comes in the Boston all of a sudden you've got you billions of dollars in tax revenue. Naturally it's not going to be spent on pensions but in theory yet you could do it. Now he eats a year where you're saying is grow your way out of it. It's always easier than trying to cut. Tough on us states that don't have much in the way of growth like you look at Connecticut their economies still shrinking. The population shrinking a lot of the old New England states who is in they're not growing too. That popular yet you are you for the most part and GDP growth is coming from the southern state Connecticut's the most concern. There yet via the other ones you look at like what Maine and New Hampshire have out there need it's a relative pennies it's it's not enough to be a major concern and Connecticut's a concern. New Hampshire the most fiscally responsible stayed in New England would do group that. Generally. Typically aren't coming up will be joined by Jill Gonzales from wallet hub where be talking about identity theft. How did New England states rate in terms of identity theft as where you'd live does that help determine. The potential for you being in an identity theft victim that's our topic when we return from the financial exchange radio network. Trump's administration hasn't passed any significant legislation yet but tax reform is front and center asked me in here. Keep it here with Barry in charge for the latest on the president's agenda and how markets are reacting and this is the financial exchange radio network. Retirement it's something we all think about and all of us look forward to it after many years of hard work but are you ready for mentally perhaps but there's much more planning required if you wanna rest easy in your later years hi this is very are strong and this month my firm the Armstrong advisory group is offering a brand new guide called retirement readiness unit you'll find information they can help educate you on what steps to take to enjoy a safe and prosperous retirement such as how much money you'll need to maintain your standard of living and don't forget about healthcare costs and tax considerations it's all in this brand new guide which includes your own retirement readiness checklist you can get the guide by going web site Armstrong advisory group dot com that's Armstrong advisory group dot com learned today so you can plan for tomorrow download the guide right now at Armstrong advisory group dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Are you financial advisor who lacks the 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 -- -- 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 -- become accustomed if you're interested in talking with us please call me at 803934. Zeros or one that's 803934001. Or visit us online at Armstrong. Advisory group dot com securities offered to securities America incorporated member finreg SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Everybody it's very are strong and I'm joined today by estate planning attorney Todd lot ski from the law firm of Cushing and dole and it worked talking about drafting tips. For your 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 that just caused problems if you if you wanna put it in English because 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 bad paragraph that causes the problem and so they're starting to realize that rather 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 I would've been. What's the result if you lose if you go to a fair hearing and you lose what happens well 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. Are no longer protect they would be considered accountable assets. And exposed to the cost of nursing home care so it's a big deal it is a big if you lose it's all about drafting Mary it's all about making shore. You put the right paragraphs in the. 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 guy 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 with Barry and chuck is alive on FaceBook and YouTube every morning beginning at ten this is the financial exchange radio network. Identity theft has been in the news a lot the last couple months would be Equifax data breach and joining us now to talk about the best and worst states for identity theft and fraud. Is Joseph Gonzales from Waldrop Jill thank you for coming on. Oh. Also this is a study that was put together that looks at the the states that are most vulnerable. Two identity theft and fraud can you talk a little bit about the methodology behind. This study. So we couldn't let. There is format so many iPhone and MacBook not me either but capita. One on the phone. And finally what I call. What the policy and greatly benefit is it to me finance and our other and implement. The crackdown on the ball. What did you find as far as let's start first with the New England states. Which state in New England ranked worst when you combine all these different metrics. But I won't what were there. When the California. Net also. But as being most vulnerable. What do particular made Rhode Island stand Alley what what was so bad about it from an identity theft perspective does happen a lot is really what what was the problem. Well not capitalize. On top and was not possible. It happened about. Then and how it all and then. It around without in. I. And them out a lot but yeah. So about one. And that's been one of the there billion. One day we didn't read here. Think. And legal guys. Of my they didn't it in my at a plant. Is it what it wants. Not that I mean. Think we all. Program and I won't be. What where did the other New England states ranked as you go down. Through this list I I think you mentioned that Connecticut was also one of the ten worst the word the other states and the falling or any of the New England states. Good I guess when it comes to identity theft and fraud. More. Info. The Mormon. Burma and I would spot. La. You know a bit it being away formal. What you'll. Quite a little bit as well. Couple things you know you this also gets broken out in two. Some other little details here in terms of you know how much. People tend to lose and in various frauds and what states have the fewest fraud complaints with things that stood out to me is that Maine and Vermont. Typically have some of the smallest losses as a result of fraud is there any reason for that. I mean while. Multiple. It is odd is happening won't get all the credit them all well and they don't want. It was about. People. You pretty early on. About something. Oh. But when we look at it and it. Yeah do. You remember at all other than that information. Take out a I use to big gap and I mean quiet in there about why won't. Because you realize. A money that. All of them. While pretty significant Jill thank you very much for the time will catch up with the soon okay. I Joseph Gonzales from wallet out talking about identity theft and fraud in the various states. Some interest in dated the the five worst states. Four identity theft for captain. Are four times as bad as the best ones now okay when you talk about the amount lost due to identity theft the five worst states are 44 times as. Just understand how it goes based on state Italy the if I look at the identity theft is being a very much a personal responsibility. Right it regardless of whether you live in Colorado. Well. The you're your responsible for freezing your credit monitoring your own credit making Pete sure people don't steal from him. So wide wide as the state you reside in other than regulations that they impose principles. Is it that telephone soliciting news. I think it's the people the tend to be in the states you look at the states that the highest rates of frauds of California Florida Georgia. Now these are place with a lot of elderly people tend to be most at risk. You know like you go through and you say who who typically is targeted by these gamers were typically people who were elderly who you know don't necessarily have. All the information all the technological experience or Zain on our family members around help in May not have anyone watching out for them so. You know you look at a lot of these there's a reason why every Medicare fraud cases in Florida. You know it's just what you you've got a lot of elderly people and so there concentrated there that's wild frost are set up. Tax reform failure could cost the market anywhere from four to 10% this is a statement made by Gina Sanchez who's the CEO of chant go. Global. Anti yeah if they don't get tax reforms through writing Kostis a lot more than 410% you do. And I think tax reform. Is expected and anticipated. And when you try to put a number on and I look at valuations anyway I just look at regular valuations are stretched. And then you compounded with the disappointment in not getting tax reform done. Play I think you can be set up for 1520 wouldn't surprise me he had a 30% core of. Yeah I mean I I think there's there's definitely case to be made the market is overvalued. Now fifteen to 20% if you look at just overall valuations. Looking just purely you can what we've seen behavior earlier over the last year remember after the election last November okay the market rallied. 10% heading into the end of the year so. When you look at what people likely thought the impact of policy was going to be either saying look it is you know kind of a 10% upside based on projected policy. Well we know that health care changes are to be happening of the magnitude that we thought we are gonna beginning. We know there's no economic you know infrastructure build it's out there it like we have the infrastructure bills Puerto Rico. And into Virginia and Puerto Rico and Houston their border infrastructure. Hillary used in Virgin Islands Florida that's that's. I'll tell you the amount of money pouring into those areas it's huge could be quarter billion dollar yeah it is a quarter trillion excuse me but. You know overall you you take a look at what's out there and and the port 10% kinda seems right based on policy could the market fall further. Yeah I don't think its policy. First time in four thick crude oil's trading down four days. Crude oil down forty cents a barrel at 5164. The Dow is down 55 points at 23001. Note to still hanging on to that 23000 handle. It's very shock from the financial exchange radio and. 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 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 traditional information call 8776917. To 900 that's 8776917900. Or visit leader bank dot com. Member of the NC equal housing lender stimulus 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 are 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 your 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 securities offered to securities America incorporated member and SIPC and advisory service is offered for tourism or. Guide to retirement planning it's really important that you do this before you retire. When I 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 really 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 from Armstrong 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 from our 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 printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally we just make sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value. Leader bank a step ahead planning for retirement can be a complicated process many factors need to be taken into account including how to protect your SS 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 safe this month to hundred no brand new guide told 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. Guides and articles tab and download your guide that's legal exchange showed dot com legal 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 an excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by a leader bank's local underwriting and processing teams traditional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 44950. Subject current approval leader bank. A step ahead hi this is very Armstrong and I've told you for years about my relationship with leader bank -- been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out -- bank is offering in -- savings account providing free online banking with a one point 15%. Annual percentage -- this is an online product only and there's no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice that don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new. 15%. Annual percentage -- and no minimum balance and remember this product is only available online so logon to leader -- dot com right now -- -- bank dot -- -- -- a step ahead. Her FDIC no minimum Alex fees may reduce earnings rates subject to change without notice and may change after an account has opened. And. This is the financial exchange with Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day your. Your world stay informed and today about economic and market trends plus breaking business news every day. And now the financial exchange we've Barry Armstrong and shocks. Secure. For cancer is getting closer and closer Gilead Sciences. Eleven billion dollar bet. On buying kite pharmaceutical incorporated is poised to pay off. With the approval on Wednesday of kites flagship cell therapy treatment. For adults with advanced limb phone a height lymphoma hi everybody it's Berrian truck with you covering the story we've talked about this in the past. But yesterday we got major news as it relates to this procedure would mean coated drugs in my. Is a procedure yet this is another one of these what they call hearty procedures. That effectively allows us cells to develop antibodies to fight cancer on their role. They manipulate the cells that you re in the dictate your blood cells outing your body. They re engineer than and they put them back into your body so they can fight the lymphoma yet and Novartis had come out with one of these Ian not August 4 form of leukemia that is common in children and young adults in this one here. Is for adults who have certain kinds of advanced lymphoma what you see from a lot of these hearty treatments right now is they're primarily targeting cancers of the border that are associated with the blood lymphoma and leukemia and the reason for the as they can't really target certain parts of the body right now so they have to target you know kind of what it's flowing in and where it where it ends of go. But you know what's interesting here is near these types of treatments are. Along with no other types of immunotherapy and so forth that they are the future of cancer treatment it will you know if you look at what cancer treatment is heavy 2030 years from now or it's drastically different from today. How do you manage the cost associated with that because I don't know it Novartis has a therapy it's similar to this cost 475000. Dollars. Juliette has caught a date if the one we're talking about. The the list prices 373000. Dollars and if you if it's your mother earth it's your son has this lymphoma you want that drug. Right you don't care costs so and in this is this is where so much of the challenges is let's let's look at some things just you know basic drugs that people take regularly if you. You're taking you know aspirin dated try to stave off heart attacks or hey you've got some bumps and scratches. And you take you know just couple odd bills or use the idea that everybody understands that your dad my ominous that and we understand the causes that can gonna pay twenty dollars for you know 200 packed a bad Villar you know my stat is going to be twenty bucks a month or whatever it is. These kinds of drugs what's a fair price. For a drug to save someone's life I'd I'd like I can't do that because. You know hold it as if it's not an election year to compaction I damaged it's not an economic question. You know like eggs quote you know how they do it with organ transplants as they look at your reach the bullets are you an organ transplants there's a limited supply. Right basin theory you can make as much as this is you want and so the the question is. What do you charge it's it's not going to be a tell you it's not just OK here you know you get your own it's a dollar through what is what is the insurance Chrysler should the insurance company said OK it's gonna cost 373000. Dollars. And if you don't get a gonna die. Will pay half we'll keep in mind. Almost no one pays list price for trucks okay say it's under great. Like I I don't know what a fair prices for a drug that does this this also gets into the question of the insurance companies of the ones today. They make the decision and it's also gets into the question of okay. Rising medical costs we've talked about and in a lot of them are administrative some of them are due to. Increased salaries some of them are due to you know the way to hospitals functioned. But part of armored due to increased drug costs. This is the type of treatment that even just two months ago. Did not exist right now. We can now you've got it news you can reach in and out three things that we previously could not and so the question becomes look that is going we know that one person. Cannot spend 475000. Dollars on this dropped how do you spread that cost over the rest of society without burdening everyone else while it and and saying hey accurately. Aides. But Disney some of the harpist questions that we have to ask is that you can't answer an economic nobody beat the flip side of that chuck Hughes then you're gonna have people saying with a drug companies are urging fast they're charging too much I I understand but how. How do you answer the question of what the draw of how much to charge for drug that saved someone's life play. I I I literally cannot answer that question the on the trial of this drug on tumors. It shrank. In 72%. Of the 101. Subjects and disappeared. If a badges you've got a tumor in your body it's going to kill you doctor says say you're down you're gonna croak. It disappeared in 51% of the patients that were treated by it in 72%. Of them it shrank I mean this is of this is. Modern day. Miracle medicine yeah and it's be you with the with especially again with with blood cancers and things like that you're gonna see more and more of these treatments in the short term. It's a longer path to get these to treat things. Kidney cancer liver can't if it's tougher to get those areas just because you can't micro target parts of the body and this is like a major breakthrough. That is that will be worked on line did like twenty years from this to be much more common in the Costa become. It well and in in this is no different from other types of drug development as well if you if you go back and look at the original cost of you know doing certain procedures and certain drugs. Significantly higher but as they become more common as we get more skilled at them you're going to see costs come down but. It's it's pretty revolutionary war that we're talking about these kinds of success is now like five years ago. You'd didn't see it was a possible I mean it's a lot of this result of the lately is being done in the Boston area. On the boss near his home that's going on out. The three areas that seem to be biggest for cancer research right now the Boston area the Philly area and at Minnesota Minneapolis is where he details it seems an awful lot as well. Blue apron says it is cutting 6% of its work for ol' board of future growth that makes no sense you know cutting work our workforce because we wanna grow now. The EU credit workforce because you can't make money. He shared there and it tells me I don't know if this companies around two years. I feel bad for them because again they've built a great product. And argue I I I tie I think I believe that they consumer I would say you. It's it's not for me and the big question that always that price target hit. It is a good product OK if you went from great to get it in the sixties and they've he's built here here's why I feel bad for the ducks get a state. Well they've built any property if I feel about a tells life. There. Can they actually eating or because they actually built something via snap Chad didn't do when he. It's always been funny things I've laughed when. So you think that because you can laugh about it to be worth three times as much lately I have to ask is worth and make it say thank you to her blue apron as a company that I don't think should have gone up. This was accompanied it did not need money to the only reason they went public user believing. In in the and exploit like oh what a lot people understand why as a company need to go public because the venture capitalists. Want their money. So the guys that loaned you know the Angel investors in this company. Says I arrows baby is a 100000200 million dollars that they invested is it that you need to go public they dictate where the public. And maybe this company shouldn't of taken VC money and he this is I would choice with. Be the they have no business what you've grown a different way you grow more slowly that this is one of the things that people how do you tell rolling you're losing money. It's it's a chicken and egg question you're losing money because you're spending all of this to try to grow grow so quickly to you look at why they're losing money it's not on the product they sell it's on their marketing expense to get customer well that's where they use money. And the fact that they cannot retain their lives. Correct but it. This gets into that the whole reason why they had to go public was because they tried to grow so quickly. That they spent all their money that they can spend it on food they spent on marketing tear and so if you say hey maybe we don't need to try to become. A twenty billion dollar company but maybe we can grow this over a ten year period in the something where to 10200 million dollar company then you've got something there. But instead this. This company is one of the dangers is is represented of the dangers of accepting VC money and trying to go public because it's not that kind of company imagine if thank you try to think of it a comparative example Lucas. But it's like there are so many companies that could be great companies if they just didn't take the money right away in and built a a more sustainable business. In the didn't do that they went for the home run there and directly you shot you're shot but lost to play out that this company will be out of business in two to three years excel. A 100%. Another way to lose money would be to invest in professional baseball team pose look at the numbers are related to the pot sucks released their financial and attendance days to Rhode Island lawmakers. Reminded the next time I'll think about buying a professional baseball team player in the market. Not anymore I'll go on and not are on the team got after you have sure you wouldn't run right into the ground swell very lose much like a muscle except it's unbelievable how much money. This is the other the plus ducks have had it a tough couple years in terms of trying to. Retain that people coming into the ballpark and in just trying to make money at this point they clear they're looking for a new park. They are and they're they're looking for money for new part is well from the state and what what's interesting here. Is that you know the documents that they release date nearly give some of the data in terms of their attendance and so forth. They do have about seven million dollars and liabilities right now that are outstanding lead the vast majority of as a loan from Bank of America. And they've got some other potential loans that are out there but. They don't have much in cash there was enough about 650000. Dollars in cash G think they stay in Rhode Island is that the rumors are swirling that the leads state Tucker what's being a situation how much of the pos socks is owned by the Red Sox it's most most. Maybe minor league teams are not owned by their parent. But I think the paw Sox that the Red Sox have some kind of only show in Ottawa I forget what it is. I was a significant. Percentage I'm trying to look at. At thirteen pretty much thought nah it's Lucchino and a bunch of private investors who own big chunk. Let me see the you're saying yourself gee can I get a better deal by going to. Springfield terror part for orders you know some other areas of the country you don't have to have your team in your back. Know what would it you don't what do you like to and if you look at how most teed it Mets had set up team went in Tidewater Virginia and even that's you know to four hour drive. No news New York to a Tidewater the longer than that. Typically you like to see him closer okay. I don't know where you go. Now lake who would no one's really in the market for minor league franchise no wants to pay for won the next point and that's the thing is. Anywhere they go they're looking for public dollars I can think of a lot easier ways to lose money. Then investing in one of these. I can't have this like this is one of the easiest ways to lose like this is one of the biggest abusive tax Payer dollars using it on stadium right. Right the announcing that Fenway sports management Fenway sports group is involved with the pos talks too much as the Red Sox yes that there's some kind of cross over there I don't know exactly what it is. But you know I just I I don't see a whole lot of about a ton of options for now you know it's it's like I just. I am typically very anti public dollars going into stadiums is is doesn't pay itself back so you know phone kinda looking and I say. Guys are on their own. Objects will be joined by Blake Burman from Fox Business or talk about health care. Do we have a packed mainly due in May believe they'll does the president want it maybe goes maybe doesn't that's next from the financial exchange radio network. Markets continue to fluctuate but we've John you covered get your daily update on what time and what's not from Mike Armstrong every morning at 1030 boldly on the financial exchange radio network. It's been an incredible year for stocks with the Dow NASDAQ and S&P all reaching high water marks yet in spite of this tremendous success there remains concern about a market correction Titus is -- are strong inviting you to join me on Tuesday November 14 at Bertans grill in Burlington for special broadcast of the financial exchange followed by an educational lunch with the Armstrong advisory group will there be correction if there is all help you prepare forward to reserve your spot call 80393400. Once it joins the Armstrong advisory group and the voice of Boston AM 680 WRKO. On Tuesday November 14 at Bertans grill in Burlington Bertans -- your life your style our food space is limited so call now 803934001. That's 803934001. Securities are for two securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong represented if 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 you are small business looking to expand or improve your infrastructure you need to take advantage of this great deal from leader bank. For a limited time your business can get an SBA loan of three point 99 annual percentage rate with no closing costs on loans of up to 150000. Dollars and that rate is locked for four years in democratic 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. Dollar 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 Armstrong 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. 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 when he 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 online so logon to leader bank dot com right now its leader bank dot com leader -- a step ahead. The financial exchanges live on FaceBook and YouTube watch Barry and Joseph discuss the issues of the day and see which one smiles the most. Is who's the financial exchange radio network. It's so much controversy. Around the Affordable Care Act AK a obamacare and whether it's repealed or not I act I lose track of it fortunately we have access to Blake Burman from fox business and he's got easier to regret a heir to the ground he can help us understand what's going on with health care I'd like. Hey good morning and maturity term commitment so there's been back. Try to make that the. Okay. Where where are we now I thought the ad I thought there was a bipartisan agreement that I guess the president doesn't like it. There was a lesson 24 hour rehearsal for president trump on Mary Alexander bipartisan deal. Democratic senator public and senator that appear to have been struck Kurt Kurt has struck me that would put more on being in QB that yet our payment. Over the next few years while all the giving. Conservative parents like. Haven't they have more flexibility to opt out of obamacare provisions the president on Monday and that Rose Garden. Europe Tuesday rather. Earlier this week that they at all matchup at point. But at one point in the current weight behind. And then later came out and that then there Anders yesterday backed up. That you know that there would support it because it would you payment of the insurer. That it is supposed to being short term ex. Bipartisan compromise in the about it Bryant has come out against that and how did the White House is now again well. A group of governors are or. So that the but you also have a lot of high level Republican opposition against that it is a short term solution but in the mean time that this thing might not be going anywhere. So just. Fur and where are we going forward I get a what what's gonna happen to. People that are covered by the Affordable Care Act going into two when he eighteenth. Well keep in mind that this one's. Section of the car payment rather cut off. For the next month or week and that is or a a portion. Like it that it payments. Give insurance companies or low income family. The greater insurance market at least about their market is. They get certified stabilized at this point yeah where the blame lies that they political and economic argument the but our data on. You know the president was that. In the Rose Garden earlier this week. Well you're republic health care plan multiple failed earlier this summer the Gramm have to bail looked at them block grants for the states. Held to mark what is your plan what has the Republican plan Mr. President and he responded by throwing its weight behind. Background capacity bill that block grant for the state bill but keep in mind and the president as well be taken up early next year. They don't have to do actual form well first off a budget vote today. Then tax reform. Then spending bill in December and the president wants to get to this. Early next year it is an awfully ambitious timeline and not to mention about a year now means you'll talk radio about when he richer thanks which are all political dynamic in in in that bat. And that apple situation. So I mean where and noted that there is that a lot between Allen and. From a consumer perspective though would how does this impact the the guy is making thirty grand a year. And buying his health insurance through obamacare C getting hurt is what would or is or they're neutral. And you know it depends what state Iran obviously premiums are going up. A lot of these states have been wanting a resolution on the Fiat car payment the that they can't. I put out there are models that is not is an October study. It is I think a lot of the insurer are out there in Ottawa without the brought out. And everybody says they want ex pat obviously there's just no real app for Alice. As to how to do it or are really tripping over app there's no legislation right now. They're trying to settlement. Beef you're young and healthy are you winner on this deal if it the people their most likely to be damaged. Are old and sick vs young and healthy. Which which the only topic refer except. Well the the pulling the plug it the president's action of of all the funding. And allowing young people to buy and the on more important. Lack lesser coverage righty because Brett a thirty year old can now say one is gonna buy a skinny package. But that's gonna hurt somebody who's older and sick as I understand. Well back and that would be executive orders that the president signed I believe last week but he's been mine. Need to go to certain regulatory process he's out what is name on the for the paper. It's still subject because that the executive orders or or at least this specific executive order to go to the regulatory process. And that's not a A days or that about it weekly event that is something that's gonna take months and months and months found alive administration. Basically can stated that that this could be a six month I think so even then yeah once again that bring you into march April. A somewhere in there. When the president wants the once again tackle at the grand capital and I forget it who even knows the health care as actual form rather it going to be done by that because that it happened the clear path. Politically or or any. Major healthcare legislation. Got a Blake thank you for joining us appreciate your time. So I'm not sure I know any more now than I knew ten minutes ago. I think it just you know shows the amount of confusion and lack of direction at this point. Obviously with what's going on site I I don't know anyway when we come back we're talked about how he yet instate tuition. You mean even if you don't live in me that's our next topic from the financial exchange or unit. You've got Barry Armstrong. Financial exchange shall look I mean she licks 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 owned by your gold locally it just makes sense of leader banker called and learn more call 8776917900. Or visit leader -- dot com not a deposit not FDIC insured uninsured by any federal government agency on guaranteed by the bank and may go down in value leader bank a step ahead. 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 offered to securities America incorporated members in risk SAP C and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated planning for retirement can be a complicated process many factors need to be taken into account including how to protect your RSS 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 giddy up 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 on his written a brand new guide called designing the perfect income only around a double 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 guy that's legal exchange showed does come. Legal exchange show does come. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks take hassle out of round -- with zero liter banks all mine rent collection tool zero automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more we see rent your payments -- -- unit to receive regularly on the same day every month tenants pay nothing in the first six months or free throw landlords visit WWW. He rent dot net to learn more or call 7816418691. Very Armstrong here and I'm joined by the vice president G tool. From leader bang 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 by refining Jane that it's being widely adopted by Condo associations tell everybody was he rented. Right so he rented the product we innovative leader being. Comedy can be found it WWW duds the rent dot net and it's essentially. And online payment technology that allows landlords to collect the rent electronic. And it's. So there's 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 and have a checkbook. We're getting that all the time lame or will call in and sign up because his tendon saying you didn't check the British really starts to get funnies when you your landlord and you have. Multiple tenants living in unit grad students your university. Well right now they're all writing multiple checks and sending them in and for a landlord source become a pain in the neck so would you Reynolds who's who actually deputy each tenant can individually. Matches it's and one team that unit to landlord. And then of course there's reports in notification and all of that stuff but going back to your question a Condo association a lot of Condo associations have been using human as well because the Condo. Payments that kind of the shirt do 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 it with the modern age go to easy 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 a what's not and what's not from Mike Armstrong. Mornings at 1030 only on the financial exchange radio network. And dale is driving from New Haven, Connecticut to Boston Massachusetts along route 95 cents under the gun if I didn't see a billboard in Providence. Saying. That if you live in Rhode Island you can get in state tuition at the University of Maine. You know at the University of Maine is doing this is a program that they originally started three years ago is they're not offering the main in state tuition to people but they'll say. They look appear for Massachusetts. And you wanna come to the University of Maine or Rhode Island or Rhode Island what what they will do. It is they will say look. We are going to charge you the same rate that you pay. Go to UMass is OKC get effectively in state cost tuition but you're able to go to this out of state school. I think it it makes some sense there okay. Paid their half their class is coming from out of state now. Which is highly unusual for state which I don't know firewall that. Well because the the goal of state universities. Is to educate the population of that state that is has first and foremost what they are tasked with doing I understand. The B the issue in Maine is. The dig their suffer from at best a stagnant population and they are they're doing this he did perspective from the university Maine is that. They're doing this to get more workers in me. The they need more qualified workers. So the question uses is this the most efficient way to do sooner okay because all of a sudden. You've got tax dollars that are now going to educating kids from out of state well that's the your kid applies to go to university I mean he gets denied. Right taken in do you me right then you find out. That kid from. Austin is guy your kids spot down and that's that's my concern is if you look at the the founding mission of in state colleges. It's educate people in that state and it is so if you are pushing kids out in order to get in some of these people from other states just to attract the man. I've got concerns on animals that concerns just on the of the cost you know you you using taxpayer dollars educate people who were not in that state. While Maine lawmakers. About state money you lose the the there was some expected to be some blowback but there hasn't been. My only Maine lawmakers may be there. Thought was lowering its and there's they've got people out here recruit spending a lot of money on these bill may not the only school doing this a lot and mean it was cool doing this that I notebook Maine is not the only school trying to recruit more out of state students I know that the California schools in particular have been very aggressive about going after out of state students to pay more. Via the they're the money there they're getting correct in this case mean isn't getting full boat for out of state and that's. That's conserve mes they look at you wanna bring in more out of state students. OK but make him pay for boat don't give myself like a subsidy to bring him in especially. You know or how about this look if you wanna get that discounted tuition you've got to work in May of two years after something you like something like that is otherwise you sit there and you say. And what what we do in this like what's the benefit do we have a budget deal in Connecticut. We might. Look like everything in Connecticut's budget it's a little bit hazy but it we will made -- it appears that we. Are getting close here they did say on Wednesday that they reached a preliminary budget deal and were intending to vote on it next weeks or potentially about a week away. From this deal getting done in order try to close of 3.5 billion dollar deficit over the next couple years. They thought they had a deal back in most July or August I think that fell part. And so they are still going through some of the details here. They're trying to figure out you know exactly had a gonna pay for some things one of the big things that apparently has been removed since the deal that was discussed this summer. Was shifting of burden of about 280 million dollars in teacher pension cuts. From the states municipalities and that's gone we've talked to other and said look all that means that your city taxes go up. Of your property taxes so. It it seems like they're getting close on something I don't have any details as it is nobody wants to cut nobody Austin in feeling the pain. And now why again and I wanna pony but you know you can't always get what you want. Is a stock market correction coming. Probably rightly key is how bad is it going to be and when is going to occur. I'm going to be hosting an event at Bertans grill and it'll be on November 14 if you'd like to join the space is very limited. And the event is free what we do it when we do these events we do when nature for these yeah. We we go and do the show from Bertans so will be doing the show on November 14 from Bertans girl. And then will do will have lunch together and then we'll make a presentation to you and I'll. Make my argument about why I think he stark stock market correction is coming if you like to join us space is limited. So each team to call right now the phone number is 800. 3934. Zeros or one that's 803934. Zeros or one. Again it'll be held on Tuesday November 14 come out and watch the show starting at 10 AM. As we broadcast live from Bertans grill in Burlington. Bertans grow your life your style power food this event will fill up quickly so call now that's 803934001. Bids for Amazon's second headquarters are due this Thursday by the way that was our poll question today and see how the poll results are so. Jim act down. Yet do you want Boston. To win the Amazon headquarters sweeps gays well you know why. Tucker is we have all our listeners tuning in now from Providence and from Connecticut they they don't want Boston again they want province to yet. They want Hartford again. What they want Londonderry New Hampshire. There's over a hundred different cities that have so they're going to be putting forth bids including powerhouses such as Atlantic City, New Jersey via you can be based on the board got to think that be kind of interest thing. But easier to do which cities did not put into it. Yeah we can go through that. He uses the virtually every city scenes put in just about everyone I mean even in Massachusetts that you've got like five or six different views that are coming from the state of Massachusetts. You've got a few from Connecticut I know I think New Hampshire who primarily to etiquette thing I think it's the Stamford Bridgeport area and the Hartford area. Yeah I know win in New Hampshire and of the Manchester putting in a bit I don't know if the Portsmouth there is did you see anything on that night and seeing about prop Providence, Rhode Island put in the provinces. I didn't see anyone in mean to DC Portland on the list I did not as the Portland or in but not mean. So you know you've got a whole lot of different cities that are expressing interest is because Amazon you know saying look you got 50000 jobs coming to Florida and know till next year. Probably about six months from now it's next year when we find out now apparently under Hampshire Mitt is making a dent and their pets. Was saying blossoms are terrible as their approach Boston what is terrible yet there. That's Trinidad at defense Qaeda who would date would those be a little more precise that their pitches Boston traffic is terrible. Now what's he doesn't have awful traffic Londonderry New Hampshire does now traffic is actually. It does six I don't know if you've ever tried to drive down 93 south at about 9 AM now. That would prevent good like it's backed up like past the mass border and you know oh yeah it like it's it's bad like. It is not good trying to get down that. 57% of our listeners want the headquarters to come to Boston 43%. Are saying no I want to go somewhere else actually the New Hampshire bid QE would do we have time to read a little divisions yet guzzling that they have some. Absolutely outstanding stuff and here went when you look at like how they're describing some of these things and so New Hampshire it is titled all the benefit of Boston without all the headaches yeah. And if it's it's pretty remarkable excellent things they say here when you leave your tiny 4000 dollar A month apartment to sit two hours in traffic trying to make your way to an overburdened airport. You'll be wishing you were in New Hampshire make it's that they go straight at them pretty much leg just look at cost of living no income tax in New Hampshire no sales tax in New Hampshire right. If you Livni or the real estate tax or double every other town in New England. And so the and he's so what like a if you make it I don't know I don't know uphold all they've had about ten grand a year to hold up hold up you get to say so what we're gonna twice has. Today they are. Most New Hampshire tax rates are about two to two and a half percent depending on the town most ones and other states are between one and one out the for it. Yeah urges guy. And the other thing you'll get New Hampshire in terms like some of the these paper lately that's exciting is like that. It's passed through. You know. I I just. It's a long shot for me I I still think they go to metropolitan city. I'd like CB Boston but there's a lot of other good cities analysts look at this I don't understand some New Hampshire in there I'm reading through they've got its day like fifty years it's a 78 page proposal okay. The proposal to the colleges that they mentioned that are close buyer MIT and Harvard where those in New Hampshire. Did you pick from Seattle you can't save Boston sucks and advertised Boston why wouldn't mention human nature Dartmouth they do that to like they mentioned Harvard and MIT right on the same page it's like. You can't say Boston's terrible and mentioned two schools that are based in the. Boston I think that the challenges to you know is a kid from MIT. Gonna go to Londonderry New Hampshire I don't know. Early on they want to their could be the next Boston who knows. Keep in mind as we do have the predict wall. For this. I airstrip North Carolina and yet he's today Charlotte right now now heretic Boston and I took New York. Which I regret east ally is all around we'll give you Newark and Withrow Newark and how to get married so they go to newer group that will give you credit for the art. Not that petty these no prize or anything he's bragging outspoken. And it when we come back Brit talk about tax reform. Are any of these cuts gonna go through to the wealthy initially we're told though maybe that's changing just a little bit that's next from the financial exchange rated network. The financial exchange with Barry and chuck is live on FaceBook and YouTube every morning beginning at ten days is the financial exchange radio network many of you who've listened to Todd -- you for years on the legal exchange radio program are probably -- near retirement age and if you're one of his core listeners you know always an expert an elder law and estate planning if you been thinking about starting the estate planning process or are just under way you want your trust documents to be prepared properly so that your assets are protected from the nursing home. It takes five years to secure that protection and you need to make sure that you aren't wasting your time in your money on legal documents that don't work. This month Todd has written a brand new guide called designing the perfect income only irrevocable trust they contained the specific language that must be included in your trust 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 dot com. Retirement it's something we all think about in all of us look forward to it after many years of hard work but are you ready for mentally perhaps but there's much more planning required if you wanna rest easy in your later years hi this is very are strong and this month my firm the Armstrong advisory group is offering a brand new guide called retirement readiness unit you'll find information they can help educate you on what steps to take to enjoy a safe and prosperous retirement such as how much money you'll need to maintain your standard of living and don't forget about health care costs and tax considerations it's all in this brand new guide which includes your own retirement readiness checklist you can get the guide by going to our web site Armstrong advisory group dot com that's Armstrong advisory group dot com learned today so you can plan for tomorrow download the guide right now at Armstrong advisory group dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services offered to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are. Unaffiliated hi this is very Armstrong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out -- bank is offering in -- savings account providing free online banking with a one point 15%. Annual percentage -- this is an online product only and there's no minimum balance required so log -- to leader bank dot com and sign up today this rate may change without notice that don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates -- get free online banking with leader banks in new. 15%. Annual percentage -- and no minimum back and remember this product is only available online so logon to leader -- dot com right now its leader bank dot com -- -- a step ahead. Security suffered through securities America ain't members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated. To vote on our daily poll question had financial exchange showed John come while you're there by Arab the media player and watch the show while you work. This is the financial exchange radio network. This segment of the financial exchanges. Brought to buy leader bank if you're looking to diversify your portfolio. Precious metals are Smart investment gold and silver bullion coins are now available at all leader bank locations call 8776917900. Or log on to leader bank dot com for more information. It's very hard not to give tax cuts to the wealthy this according to Stephen minutia and who last fall said it would be at no absolute tax cuts for the wealthy when during tax reform. Not good Steve now that's it let's talk about the easiest way to do tax status of a suggestion. I remember remember the the few years ago news 56 years ago. The suspended the payroll tax yes Z they they did you suspend the reduced or anybody to assess. What I liked about that was. Rewarded. People who were working you'll pay payroll tax the average. Yeah I didn't imagine all of our listeners realize the same ever won well except for retirees rates you're nobody if you're if you're working it applies and that's what I think should get tax cuts eve in my opinion right if you're working productive member of society. You're deserve the tax cut. If you're retired do you deserve one dad Soria that I don't think you'd you know. And you he ought to apologize to your father he's not and he attacks but. If you're paid the payroll tax write wanted to give. A tax cut because you you'll pay the payroll tax up 220000. Dollar in a ballpark yeah it's at is it hits everybody everybody with the job. Benefits from a payroll tax would. It's not helping the wealthy more is only goes up to about 128 so it's not helping you if you're making more that's my point. It's clean it's simple they'll never happened bill knew you know and I wish late and I aggregates it's it's an easy thing to implement to Uggla at no cost Mikey you don't have to do it the not Hillary replicated wrangling and everything it's just right it's 2% less and you know and they did it it had an immediate impact on GDP. Because when you reduce the payroll tax of just talk about the fight comes out your paycheck nips. When you reduce the bike attacks. By 2% if you make it a thousand bucks a week rate policy need an extra brawny box you make it 2000 dollars we get forty you know what happens yes spend. I I completely agree so maybe if if you're trying to go through like the tax code sale we're not gonna cut tax on the wealthy good luck the welcome paled taxes the numbers are pretty staggering the it twenty per is the top 20%. Far earners. Paying 95%. Of the taxes this according to tie that treasured part down in the top 10%. Of earners. Pay 81%. Of all the taxes down. So that's why east and I guess you could just reduce income taxes. You know for the bottom 80%. But the easier way to do it would be the payroll tax it's easiest way ever less least costly. But your point it'll never happen. Spain to propose measures to strip Catalonia of powers it was not they've really botched this whole situation who Catalonia Spain. Now Spain from Leo first start you know fired rubber bullets in the people when they're you know go into these votes that are legally binding and don't have any impact anyways. The Spanish government is pretty much inflame the situation every single turn instead of trying to actually deal with that in and this is a continuation here now. I don't think Catalonia is gonna actually do anything. In think they wanna leave what most people don't. X 60% of the people stayed home in the referendum that's like if you don't go to vote the referendum and it means that you don't want to do it like it's it's pretty straightforward. Otherwise you would have gone. But I worry about differ from that area it's actually the most well the part of the country it subsidizes the other parts of the country and that's what their present. I like how the no New England subsidizes. The southern dumb states right. Right it's hit it it is the exact same. And we we we you so big about it from the standpoint you look a year federal tax dollars how much you pay in federal tax. Somebody comes back to Massachusetts and summit comes back to New England but most of it in here a big chunk of that is going to other states. That are less educated in and let that we re air typically in in New England. Predominately a net Payer to others yet you met if you count up all six of the New England states were definitely payers yeah. Changes in store for foreign companies tax treatment in the United States this is. I guess a plan that's being bantered about and it's an attempt to stop these in version two companies are leaving the US for our company's. Leave the US for tax reasons I like this idea to keep their expenses in the US snorted to deduct the necessitate we're gonna put some limits in so you can't just do these versions. And and try to but they say level the playing field as far as. You know where capitalism is captain you know how it has to be invested and so forth so. You're remains to be seen at. I'm still optimistic on something getting done on the corporate tax. I still think something gets done their just because. It should be easier and simpler to do do corporate tax reform declare victory and go move on. It's it's tough politically to do that because no well these are their paycheck that's the thing that gays talk her want to payroll tax cut. He wants to pay less income to the anybody with a job. Is resentful of how much tax that the the argument that I will make I am on the corporate tax side is when you reduce friction on the machinery that produces well to understand you should produce more wealth figure out how to distribute that that's a different issue. But at least you say look we wanna be in the business of maximizing wealth and then we can figure out how to distribute it. Right now look AD when you talk to guys like Kudlow and other economists will tell you that makes cents to it to reduce corporate taxes. I can tell you bill from a personal perspective when I talked to my friends and neighbors guys hockey rink wherever. Posthumously. You know would would it's more important to you personal tax cutter corporate every 99% of the sale wanna personal fact they just make sense to anyway I would. CBS get in bed with anthem this this could be an interest in partnership. Yet anthem little unhappy with a a battle they've been having with Express Scripts who's been there pharmacy benefits manager over the last several years feel they weren't being treated they're selling you this during the saying that they're being overcharged and so what anthems gonna be doing they're gonna be taking this in house in 20/20. And the you'd be working with CBS to build this out it's good for CVS it's good for at themselves for into them CVS shares Europe but it's good for people who were insured by at them as well historically the companies that integrate vertically on health insurance. Tend to be a little bit cheaper they dot com what's called out in California kinds Tom Kaiser is done a phenomenal job because they've integrated vertically like this. And this is something that I think makes a hole and have sent. For hand them well and and if you're stockholder in CDS which I believe I am. It's good news. The Dow is down 45 points the NASDAQ is off 41. S&P down five crude oil trading at 5164. And trading price and gold gold is up today five dollars an ounce at 1288. Announced. Thanks for tuning in to the financial exchange with Kerry and John.