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Full Show 11-6-17

Nov 6, 2017|

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This is the financial exchange with the Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus get breaking business news and every day. And now the financial exchange with the Barry Armstrong and chuck. So. Abandoned the ugly we're not talking about movies were talking about tax reform hi everybody it's Berrian truck with you here on late Monday morning and you know we've all had a little bit of time to digest the tax reform proposal that came out of congress last week and it's pretty complicated. Chuck I wanted to start off with just a conversation about you know kind of the winners and the losers if you will as relates to this tax. Yeah I think what you're gonna see here is more than anything else. This is a plan that is very much going to target. Different people on a geographic basis but more than anything else I think simply because. When you look at the changes that are happening here and obviously we're streamlining the number of brackets going from seven down to four so that's the the biggest changes kind of looking at the top line here. But the two biggest ships that are happening on the personal side. Are the capping of the deduction for state and local income taxes okay and that being capped at 101000 dollars a year. As well as capping the property tax deduction. Effectively if 500 out there have run the the mortgage interest deduction at 500000 dollars of principal OK and so. You know those changes are predominately. Going to hurt people. In the northeast California high cost of living yours people down in Texas and Alabama and Mississippi. Art can appeal a huge impact from this they may benefit from the lower rates and folks in high cost of living areas are likely going to see an impact from these shifts. What you say that in and you call a geographic I wonder if it's more demographic. And geographic and what I mean by that is. It would occur to me that retirees. Who you know with a lot of retirees that I need anyway you know the big might retire in the have I don't know thirty to 50000 dollars and Social Security. Maybe 20000 dollars coming in and pensions if they're lucky and then their IRAs and they usually have just there are taking the standard deduction. I think that a lot of retirees that are living on anywhere from. I don't know 60000 dollars a year or 250000. Dollars a year. From what I can see chuck they're gonna see a reduction in the tax bills. They may see a slight reduction what's interesting is that it's. The cause of the changes that one of the change that is happening here is the removal of the medical deduction. And that's something. That a lot of retirees do end up taking simply because they do incur significant medical expenses they might not take every year it might be something where. It's every four years or five years or maybe once they do go into a nursing home were assisted living facility. They start to take it then. The that is something that is going to have an interesting impact. On retirees simply because if you can't deduct those big medical bills which. They're not of your own fault largely it's it's things that are outside of your control. If you can't deduct those back and have a huge impact then on how much money you have to pull out an order covers some big medical expenses when they do occur. Use the standard induction truly being doubled you know is at a I don't think it is snowing in in fact for a four fit and we did as kids and it can actually have a negative impact for higher income families and so the reason why. Is that the personal exemption which this year's 4050. Dollars is going away. And so what that means is that right now if you were filing as a family married filing jointly with two kids now okay you take the standard deduction for both the husband and the wife which right now is about 6900 dollars now okay. You would take that personal exemption for the husband in the life. But he also get that personal exemption the two kids okay. And so when that goes away. It's replaced by a higher. Child tax credit over 1000 dollars to 16100. But if you are in the 25%. Tax bracket you're still in that losers okay to the point 5% bracket remember now starts at 90000. 90000 dollars in income is what we would typically consider. Upper middle class deals guy. And so if your family in that range called 9250000. You can beat pain a little bit more as a result of that personal exemption going away if you have. Multiple kids. Rate race but if you're again I'm going back and I'm thinking about the empty Nester the fifty year old couple sixty royal couple as one house. Property taxes are modest. I I I see them as being the unit retired or semi retired. Individual I think paid me the big winner on this you know and what it boils and I was scratching out numbers of those doing it based on incomes of anywhere from a low of 75000. For married couple all the way up to about a 150000. After a 150 year quite a bit trouble you're you're gonna paint quite a bit more tax. But underwent fifty and over 75 it looked like that was a sweet spot. If you were not deducting OK and if you're not itemize in if you're on the high cost of living area what what's interesting is that retirees in the northeast. Could be hit somewhere hard by this because we know that you know a lot of the places that people tend to retire if if you stick around in the northeast yup you might. End up with high property taxes and so you might not be able to deduct all of those going forward you might be in a situation where hey. We know an awful lot of people that. Retired today it's still have a mortgage because of what happened during the financial crisis and so for them. It's more of a mixed bag but 100% right if if someone is coming in saying look. All I have is I've got my meal our Social Security which is near 40000 year we've got to stop penchant for about 25 in a report tend to when he out of our higher rate each year. Someone like that who doesn't have any deductions and who doesn't itemized today them is going to benefit absolutely. It and then you've got five point two million people who were paying the AMT current days near the empty is going to be gone. Alternative Minimum Tax yep AMT's gonna be gone the estate tax exemption is gonna be doubled and then repealed the estate tax will be gone by 20/20 four okay. And then you get this whole host of BO kind of little side things what one of the things that I've been meaning to ask you about posting about this all weekend actually. The electric vehicle tax credit is going away. And I was wondering just how disappointing that is near to you personally just you know as a buyer of these vehicles if you can call them. Well the. The the to meet personally RD Democrat. And I got 101000 dollars in tax credits between Massachusetts and the federal government which this side effects would this affect your decision to buy one in the future. Probably it would certainly influence my decision because he now it little happened truck is. The manufacturers. Of these vehicles whether it's Tesla General Motors Ford Toyota Volkswagen. They're gonna have to compete on an even playing field right. And that's right it and so. The enemy they're still under the air quality pressure right so they have to have their fleet of vehicles adhering to air quality less they relax that they haven't yet. If they relax the air quality issues I think your stove and a CE. That these credit these vehicles continue to sell just because General Motors and tussle have to reduce the cost if they wanna stay in business and and that's what I. The questions that I have his say you you remove this added incentive that allows companies to charge a little bit more on these vehicles because it's offset by the federal government. And part of me wonders OK now did they say. Hey we really have to make a race to the bottom as far as battery cost and battery technology do it and it might almost acted as an incentive there but I do worry. That there might be a gap of a couple years were all of a sudden you sit there sand will we have got the cost down and those vehicles does don't sell well for a couple of years until that transition how. It's what I think if you look at Tesla stock price last week that was and indicated wasn't a short I mean obviously. Tesla is down from what 380 dollars this year down to 300 illustrating it today. But I think the bloom is off the rose for Cassel because they're burning through cash like crazy. Their cars are gonna become less attractive for purchase and they're just getting them on the road right there and they're just finally get a start up production of these cars. And it'll lose the credit. So a lot of buyers are gonna say well. T do do I really wanna spend. You know fifty grand on the car especially from second credit right today I think that becomes a lot less attractive than I. He I think if you wanna look at a stock that paid could be in in jeopardy right now. I would watch Tesla over the next ninety to a 180 days I battery that's a true indicator of the future of the electric car market. Especially because Tesla. Their company that still depends on fund raising to be able to stay in business they still need to raise capital is because they continue to be cash flow negative significantly so want a quarterly basis. And so. The last couple years they've been able to do so book by either issuing debt and saying OK we've got these incentives that can get us to profitability or war. Issuing stock at a high price but all of a sudden. You're stuck in that currency becomes less valuable now you're sitting there saying. Hey hey I don't know if we can raise as much as we wanted to or we have to issue more shares and dilute our shareholder. Well in their debt markets are going to be close to that. Yes the because the they've raised that around a debt last summer but I don't see them being able to go back to the bond market and saying. They wanna raise another three billion which is all three billion would give them what to quarters. Of cash gaffe and especially since there ramp up has been slower than expected. The if they can demonstrate the potential for profitability. That it means that when we come back there would talk about. 11 the issue I I was talking to a pastor of the church over the weekend. And this church is very concerned. About the future of donations due to the tax reform bill that may not make sense to you might be scratching their heads and lie. Why would people lessen the plate in the past her on the church. Will explain why churches and charities. Could suffer under the Republican tax reform bill that is next from our financial exchange radio network. Even without health care or tax reform all three major indices remain near record highs get the latest info on the sectors that are winning and those that are right here we Berrian jog on the financial exchange radio network. Don't miss the party of the season it's the fifteenth annual Rodman celebration for kids and it takes place at the seaport world trade center on Saturday December 2 starting at 6 PM enjoyed tastings from seven via Boston's best chefs a blue men group performance silent and live auctions followed by dancing with the world premiere band funds raised support Greater Boston organizations that work to brighten the lives of at risk kids during the holiday season for tickets and more information go to run and for kids dot org that's Rodman for kids dot org. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of Iran today with zero and leader banks all mine rent collection tool he went automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more we see rent your payments for each unit received regularly on the same day every moment tenants pay nothing in the first six months or free for all landlords visit WWW dug see rent dot -- to learn more or call 7816418691. 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 that don't delay log on to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. 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 wore landlords and used to collector checks. With paper checks are gosh maybe still do will zero rent allows you to collect checks electronically. Jail is hoping he could spend a little bit time explaining how he grant works and why it's a big advantage for landlords. It varies so we we develop the rain to. Out of me the whole race yet because right now you know with the landlord when you're getting rain checks. Low it's unpredictable. Missing envelope the great line in the post are you waiting he might not get all the rent until the tenth or fifteenth of the month. Furthermore if your landlord on vacation in your renting a boxed in to what he does is it really teach they'll. It makes the wrench electronic payments and allows for roomy cheering for multiple roommates and apartments that's great if you're renting at the college student absolutely. It's predictable it comes at the same time every month and it's all on me. So the landlords who have been using this as in huge time savings and ointment you are you still giving the first six months free from landlords the first six months or three and then in addition to that. If you bank at one of the participating banks he ran is always pretty. Those participating banks are meter being installed. Via and that any bank could sign up right now to keep you at a bank in Vermont to Connecticut. They could sign up and become part zebra yup you your if you have a community bank that wants to be a member happened Collison will have to sign up and the service and then be free free. All right if you wanna learn more about easy rent. Go to as he rent dot net him a 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 and members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representatives 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 to you this is the financial exchange radio network. Does that tax deduction. Of your charitable contribution to shirk her university. Impact how much money you're going to donate to future. Well I don't know the answer to that as it relates to your personal situation but I can tell you. That on Saturday I spent some time with a pastor of a large congregation. He told me as a matter of fact it does her. And he is very concerned about reduced contributions. To his church as a result of tax reform let's talk about that chuck wine. It with what's in this tax reform bill that will eliminate or reduce somebody's propensity to make a donation to picture. Well I think. What's interesting here is and certainly have seen some of the same fears we are going into was this bill's release. I know that a lot of people were. Concerned about this but the big question so even though the charitable deduction is being preserved in this bill. If people are itemize their taxes because other deductions are going away. They might not see the same benefit to contributing what they did previously so let's say that you used to give a thousand dollars a year your church okay. And he did as part of her overall itemize NC took you know 7000 dollars in mortgage interest in 4000 dollars in property taxes and so on down the line. If all of a sudden you're not doing those first two items because the new standard deduction is bigger than what you were doing previously and all of a sudden. Do you sit there and say hey I'm not itemize and anymore do I get the same same bank for my baucus bars what I'm contributing to charity. Well that's what people east he said. Members of pair. So they anyway charitable contributions could be on the decline as a result of tax reform I don't know to what degree. Alimony is no longer going to be tax deductible no new people stayed. Eric block which means that if you get divorced you now have a divorce penalty built right into the tax code the other thing that's interesting the adoption tax credits gone as well. In this bill which you know that's something where. I think you know you talk about the cost of adopting a child. It's not cheap depending on that the path that you go through it could be anywhere from a few thousand dollars up into the tens of thousands depending on the exact path that you take. I can assure you it is in the 10s of thousands I am mania Foster father and it's expensive it in in obviously that adoption tax credit is a way that you can incentivized you know people to adopt children who are needed and who do need. You know a place to live and so you sit there and say gee you know we're doing this that the person that's really hurting is all these kids you know if if all of a sudden people don't have. Something to offset that the you know significant cost of of bringing it kid into their family. Can you talk Danielle real terse about the changes as relates to mortgage deduction that lets you fine with those are first. And then talk about responses from the National Association of Realtors and any real estate professionals that you may stock. Yet the changes happening as far as housing is concerned the mortgage interest deduction currently you can deduct interest on up to a million dollars in principal. That's gonna be reduced down to 500000 dollars principles so for a lot of the country. Had a huge impact your buying property in Arkansas doesn't matter a whole lot if you're buying property in North Dakota as a matter a whole lot to Ukraine if you're buying property in that. Connecticut in Rhode Island and Massachusetts especially in high cost areas it could matter to you. Okay especially we've talked about you know that the bumps up in prices that we've seen over the last couple years. It could have a significant impact there and I I talked to a couple realtors about and actually they're hitters what they thought. Naturally there they were incredibly pessimistic about they said you know this'll kill our business blob blob law and I went through in a civil were talking about what kill my business actually means you know and what they said is that on the lower end houses on the ones. Word you don't necessarily paid 101000 dollars a year in property taxes or you don't need a 500000 dollar mortgage. Yup you but seal little trickle down one or 2% lower home prices on the homes between call 300 to 600 house. On the higher ones okay. They said in an Iran the math just to confirm this you can see prices that probably your impacted anywhere between five in nine percents that. On homes that are between kind of that 600000. In two million range. On bigger homes once you get beyond that. Doesn't really matter a whole Lotta Lotta people tend pay cash provided for five million dollar house you know that's at their same GM gonna take out of four million dollar mortgage. Now where did he say what is the realtors say about 32 homework I'm thinking about Cape Cod liquid at the sock he clicks on the Connecticut shoreline and yeah the because that the fact that you can no longer. Deduct the mortgage for those homes that's a big loss. It it it is and that's something that does is likely to have an impact of the property taxes not necessarily a huge issue in some of those places the cape for example tends to have low property taxes because they don't have as many kids in school for years they don't read papers much. But from a mortgage perspective some of those vacation markets which had already slowed in the last few years okay. Inventories were already down because more people were using air B&B and home way to rent those properties out. What they said is look we may see a further decline in inventories and in prices could be significantly compress there in the short term as well. I would think it really you know think about liquid the sake because. The property taxes up there on a modest whole underlying got a 151000 dollars for modest so yeah and if he is and so it is on duty. Yeah you know I mean you look at the back at just to I'm not sure they thought that went through but anyway. That deduction on your second home even if you bought that second home five years ago you were not going to be allowed to deduct the mortgage interest on. An island that's. It's a fairly exclusive group that people can afford. You know the second hoped would. The question as relates to what what are we hearing from Republicans. In these blue states of thinking about. New York Republicans California Republicans. There are no Massachusetts Republicans but the you know we we when you look at the congressman. How do they how have they come out and spoken against this actor former four in favor of. Up a couple of them have come out and said they still have some additional work to do. In order to get on board with this in particular. From New York Peter King who be as a pretty high profile you know. Be it in congress has come out and said look I'm I'm a no vote on this bill. If state taxes are not deductible still so you have seen a number of people I know that a couple others have come out as well. And said that they are no votes right now and remember you know in the House of Representatives. And there's not a whole lot of wiggle room right now for Republicans Republicans control 239 seats you need 218. Votes to pass a bill so you have room. For 21 defections OK overall so all of a sudden you go through some of these states that tend to have high property taxes are high. Stand taxes things like that. You start adding up beneath you get to the point where you say. This might be something where they have to compromise a little bit on and the problem is if you compromise there then where do you get the money from an order paper some of these other aspects of the bill. So are you saying that this is not the final version we only spent half an hour talking about it and you I think you're weak you're. Tell what I'm hearing is that this is going to be modified I think so especially were supposed to get the senate bill out the next couple weeks and those who have to be merged into a unified bill in order to get something done anyways so they're gonna be some changes here this is a starting point. I like the fact that we actually have details on. Again it is not a perfect bill but I like the fact that we have detailed somewhere to work. Did you remember to set your clock back. On Saturday night and a lot of heat didn't remember news view he showed up late for hockey practice on Sunday morning. Well when we come back we're talk about how consumer behavior. Changes would we change the clocks I think a lot of us would rather they never change the clock we have to live with this for the next four months anyway. When we come back what happens to consumer behavior when they change the clocks that's next from the financial. Named radio network. Like this on FaceBook and follow us on Twitter. Show breaking business news is always first right here on the financial exchange radio network. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks ticked Haslett a -- today with zero and leader banks all mine rent collection tool he went automatically deducts tenant's rent and deposited into your account visit www. C rent dot net to learn more we see rent your payments for each unit to receive regularly on the same day every month tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot meant to learn more or call 7816418691. Are you financial advisor who lacks the formal succession plan you're not alone according to investment news 43%. 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Advisory group dot -- security's effort to securities America incorporated -- -- SIPC and advisory services -- with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory -- in the securities America companies are unaffiliated if you own rental property you're going to want to hear about this exclusive program offered -- -- -- it's called zero cents and is designed specifically to help -- receiving and deposit their rent checks electronically as opposed to having to wait for the male co -- bank right now if you're interested -- -- ranked the number is 8776917900. That's 8776917900. 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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. To 900 or email -- BO -- leader -- dot com for more information member FDIC equal housing -- And now Wall Street watch a look at the market's performance so far today you don't marry him jog right here on the financial exchange radio network. Michael Armstrong is with us now from Wall Street watching Mike we got a couple big stories here at surfers Qualcomm a big buyout offer in the works there. Yeah so Qualcomm this was announced on Friday that stock traded at about 13% on Friday. Tepid as 3% today it details are that Broadcom their big competitors is bidding for their stock at 63 dollars a share. So if you go back to be Gail last week this is down in the low fifties now trading up to about six plus 64 dollars a share. He knows that they're looking at a seven dollar share buy out sixty dollars per share in cash plus ten dollars a share in cash initiated stock. We will see obviously market kind of take a look at distancing it likely go through that Qualcomm still up another. 3% today broad com ticker symbol. Eight Biggio is down slightly today about a quarter of 1%. Sprint and T-Mobile sprint down about 14% today T-Mobile not moving particularly well either. What are we seeing now what's the reason for this error. Finally completely called up the merger talks that they've been taught about merging becoming. Basically the same number subscribers AT&T it would have been a very big player in this industry and they just could not agree on a deal obviously you might as an antitrust concerns and their Cuba they could not agree on who would be acquiring we stopped and for what price and had a resolve to work as Willis who is in Spanish company. But he said sprint down big time. Team mobile down big time in India usually you'd think though well we've got this deal being called off their competitors should be doing well but Verizon is down over 5% in key global down close to 2%. Really based on concern that just going to continue the increased competition we've seen in the wireless industry for the last last several years passable for the Star Trek to pretty natively news. Very good thank you Mike I. Mike arms Wall Street watched. So how your behavior change win the set back the clock sweet talk about a personal but that evidently chuck. Consumer behavior in terms of how we shop we shop laughs as a result of the time. Yeah and this is according to a report by JPMorgan. And apparently shopper spent three and a half percent less in grocery stores gas stations and retailers. In the months following the end of daylight savings time and you know part of it probably do the time change but I look at it. And three when it starts getting cold that I don't wanna go anywhere they got I viewed almost more temperature dependent than anything else like when it's forty degrees out. As it their message you you know what I kind of needed to go get this but. Only you cornered off yeah it off until warms up eggs and looked at the darkness please. A factor as well I mean there's no doubt about it I get home and it's you know 530 announced that there and it's pitch black out and going. I wanna go anywhere at this point either so I think both of them probably your factors there. And you know we sperm the. I've become much force sedentary and eat more I wonder if the I haven't seen anything I was looking for studies to see. If people gain weight or the next four months they do well definitely there's there but the studies that show that we do gain weight in the winter historically it's actually been just because it keeps you warm. Nokia with the stroke accepted all that baby why referral other people but for me I just eat eat eat at home with it east at 530 its market for a third. You know it it it is you know when you might use in the spring you might say I'll go for bike ride or go for a walk or take the dog. In this every year. If you're in the market for small business loan I want to mention leader bank you know like I've done business lending at pour money. A from banks for business purposes. And I've never had such a positive experiences I had with Peter bank leader bank. If you an accurate and it does she ran in maybe. Landscaper never restaurant she might have technology company. Leader bank. Will walk you through the process to help you get it and SBA loan the art just terrific lender. It's definitely the big banks in the big banks. He can't get anybody on the full that'll happen about your office and talk to you about borrowing money leader bank will sent somebody out. 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I've used them myself and I swear by the leader bank 8776917900. All right. Scherer with me with the world rank and our news is all about calling nosy they drew in a 121 billion dollars. This weekend in movie viewership that's a lot. They did it's it's the latest in marvel studios a marvel universe that has everyone from the war the whole Iron Man. Black widow who else is there talk to Captain America. Is there anyone else I don't say your kind of blue beach you know action and I don't see the comic book movies anymore I really don't yeah I cannot stand the cost it's just like there's too many of them it's too much to keep up with. But apparently it's it's a very well reviewed movie got 93% freshen rotten tomatoes. Eight. It looked like the trailers looked weird to me like it almost looked like it was just not. Real at all like it I don't know any of these people are no I I couldn't tell anything about it but. They did 121 million dollars. For the weekend which is no. Big opening here they'll they record open in China and so worldwide dated 427. Million dollars for the weekend's almost half a billion dollars for the open here. Big winner on a production budget of 180 million dollars gonna end up being a huge huge film. For for the producers on this that's does. What's what's more blunder and that preacher no. It is in DC comics or the or is it Disney it's it's marvel which I think is Disney. And to Walt Disney's marvel studios now yeah but in reality. The the city. It is much as they're losing on ESPN they're making it on in the movies yeah they're they're gonna clean up on this one no doubt about their biggest Star Wars christmastime right. Yeah they get star was December 15 so we got you know 38 days to go until that not that I am counting. It. Yum China. Yeah yeah I'm trying to it would be your Kentucky fried chicken for instance in in China. Which what I and I covering a story out beer run you know they're they're changing their operations they're offering more healthy options in China. But what really struck me in this story chuck who's. Multiple genes yelled China's restaurants. Represented 45%. Of sales. That's that's unbelievable. It it's significant there and and you're starting to see it it pick up in the US as well but that was a it's a pretty shocking statistic to see that. Absent a weird. Year ago that with I think an heiress has had mobile payments and Starbucks has mobile payments and when we cover those epic Starbucks last time I checked it Tucker can tell me that it was like 12%. Unity very. Very little penetration but in China. Of 45% using mobile payments. Part of it's just how the economy is developed over there in terms of we talk about it with Africa an awful lot what you seen in places like China to where. Instead of you know it in in Africa is an example. You don't have a traditional banking infrastructure but everyone is on mobile payments because it's easier to maintain those networks and so forth and so everyone tends to use them there. Similar story in China where. Lot of people said look I'm kind of bypassing the traditional credit card. And go straight to mobile payments just because that's what's available right now. And so it it's impressive but it's also important just to realize that hey that's kind of a trend is based on how they do business over there. Ray ray. You know IE I. So are a story about. You know. Robots filling grocery orders yes I was sure I was quite certain it was going to be about Amazon it is not about him. It's his company called. Oh coddle group PLC as a matter fact I thought so highly after read the stories and take a look at their stock haven't bought their stock. And I'm not suggesting that you buy stock. But what I can tell you is. They are running warehouse technology. And they put together an order of fifty different grocery. Items that included produce meat and dairy but the sight orders together fifty items track. In five minutes. Now if they fulfilled that order in one of their older facilities. It was that same order that took five minutes with the new robots would take two hours with the. Human being yet it's it's certainly it's. If it's it's interesting to see as they try to accelerate the pace. Of these robots and being able to fulfill orders what's interesting to me is. That you still need neo multiple robots in order to finish that order that quickly so it's not a one off it's not one robot that's able to do that. And so obviously the cost at this point is still significant just because you need multiple robots and so forth and people a service on the maintain them. But we're getting to the point now where. You may have this become a reality sooner rather than later. As far as the cost curve being bent on groceries that are coming from a warehouse I still of the same concerns that it originally was produced not being able to pick the right meter right tomatoes. What but what that open date with the did hear chuck was they said. That the robots. Were five purse or 4% more efficient in terms of loss then the humans so. You know in and it's not like you're picking it out yourself but right make mistake strait economic time we have gone to the grocery store in come home with Campbell but it's rotten. Nearly we write all done it. The base said. Bit in this article. That oh coddled through Al less than 1% of its inventory compared with 5%. The world or food food that's pershing purchased linger for stores and its. It's pretty amazing how they actually made this war what they've done is they've built this grid that these robots right on top of actually. In all the foods are below them and so pretty much what happens. Is these robots travel on the grid it looks like a flat war but then they reach down effectively into the foreign pull up what they need. And get it stacked in there and then they just kinda continue on their way so it's it's. Dramatically different from what you see with the traditional warehouse where you move between items this they're all just riding on top and they just reach down pick it up and just keep on moving. Well and they've they've overcome. The one issue that Amazon has not been able to witches the picker in the debt that's the yes but the big distinguishing factor. And in the grocery business it's critical in India who eat it's one of those things it. If if Wal-Mart for instance were to have this technology make it reduce their warehouse costs by 830% percent. Has of and an impact on their ability to compete with him as Amazon. Up until now has had a substantial lead in robotics technology over the other competitors. I still trust Amazon more than any of these other competitors just as they can throw money at the problem. Yup oh coddle you have to question as to how much capital yuppie can continue to throw it is just it's it's. Well let's put it this way if you work in a warehouse. As a picker you might wanna think of vote. Re training yourself and others and some other capacity maybe become a registered nurse your health care worker spoke to discus. A lecture comet much longer rope Lotta jobs in Iraq a warehouse jobs you can be around. I think many of them I know for a fact many warehouse jobs have already been replaced by robots. This would replace thousands more. Where astronauts get coming up we will be joined by Jeff holt from Morningstar. He's going to be talking to us I guess about two different mutual funds that is next from the financial exchange radio network. Trump's administration hasn't passed any significant legislation yet but tax reform is front and center at the end of the year. Keep it here with Barry in charge for the latest on the president's agenda and how the markets are reacting and this is the financial exchange radio that. Work hi this is very Armstrong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage yield this is an online product only and there's no minimum balance required so log -- to leader bank dot com and sign up today this rate may change without notice that don't delay log -- to leader bank dot com get all the information about this great offer and sign up today before the rates change get. Free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. Are you financial advisor who lacks formal succession plan you're not alone according to investment news 43% to financial advisors are over the age 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 work hard but now it's time to find a successor the -- -- -- is a regional firm and we are looking to grow our business through acquisition we will consider both RI AA and transactional oriented firms with a solid stable of young advisors who put your client's needs first and provide them with -- service and attention to which they've 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 are for two securities America incorporated member finreg SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Hi everybody it's very Armstrong and potluck ski from the law firm crushing in dole and we're talking today. About estate and asset protection strategies. That can help reduce or eliminate your estate taxes. Tut is it true that a merit couple living in new wing and with two million dollars to NASA it's easy voluntary. Gift tax. A 100000. Dollars in the government they don't have trusts in place I'd certainly can't be certainly depends on what state and to be you know I'll let us say only if if if you if you have assets and you can't each state has their own exemption. You know like the federal exemption amount is 5490000. Dollars. You can pass that amount. And state tax free to anybody you want. In any state. But a lot of people say oh we don't have that kind of you know but. What you forget about is the states. A state tax system they have their own system. And each state has their own exemption. Which can range from you know a million dollars to 201000005. Is around here 2.5 million you know and then some states don't have any. State tax the only one in New England doesn't have one news New Hampshire that's correct New Hampshire the only one in the in New England that doesn't have a separate state the state tax. And so the goal is by doing basic estate planning and using trusts you can double whatever that's data exemption amount is thereby hopefully eliminating. Voluntary estate taxes. Up to whatever that exemption amount is double. Request your copy of Todd brand new guide it's called reducing and eliminating the state taxes. You can call and receive the guide the poll number 8668485699. Or visit his website it legal exchange showed dot com that. Legal exchange showed dot com or call tool free. 8668485699. The financial exchange with Barry and chuck is alive on FaceBook and YouTube every morning beginning at and this is 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. Available on both your phone and tablet just search the financial exchange and you can hear individual segments or. Poll shows if he can't listen live we've got you covered on the I heart radio out. Joining us now on line is Jeff holt for Morningstar here to talk about two mutual funds and mutual fund Monday. Jeff thank you for coming on with us. Jeff we'll start first with the principal global diversified income on what exactly the whole demeanor. So this is it diversified fund that holds well. It's a multi at the funds to hold a lot of different after classes. On that that the commonalities and also ask us that they focused on income so it has quite a bit in high yield bonds has come in emerging market debt but also holds an equities like global. Global value stocks a lot of utility companies. An awful from the more esoteric areas like infrastructure stocks in my preferred stocks as well. So this is not a conservative income fund this is a fund that is going to have a little bit of volatility to it. But what does that produce an income. Yes so if you're decorate it does have some volatility in the first sites are having cut on income. But they yield for the and average over the past few years the federal 5%. Yields so it it does. Mean because they're looking crawls different sources incumbent that does be able to achieve that yield. Some investment looking for. Overall I know that you mention the word out global when we talk about this is there any part of the world that it tends to focus honored as it moved around. It it really looked around it. Bit and it. Particularly in the stock exposure it's really been focusing more recently unlike two million small cap stock dividend paying stocks no vote there they find the managers have found. At that that's a good area for them right now. As far as expenses going no one of the questions people always have when it comes to a fund like this is the expense ratio. What's the charge and how does that fit in with the rest of the category. So there's several different share classes of this until it bit it. Across culture cut that this is a phone that's not really screaming bargain that is not. It is not outrageously priced so it's right above average so it it it's it in the ballpark where where you'd expect on like this could be. The other fun that we're talking about here's the principled diversified real estate asset fund. Can you talk about what this unknowns. Yes food principled person relapse the management thinking that the previous fund. But did the differences at the peak this bond had a different object eventually focused the principled person got that's really focused on. After classes to have some correlation that inflation though some right some sort of inflation protection and the commonly investors or. Or in inflation protection either look at. Tips or commodities or read. As a potential. Hedge against inflation. Under what this fund that invests in all of that classes and it and it and a few more so it's really that divert beacon adverse side exporter there's several. Inflation taking ethnic classes. Is this predominantly a US based ponders this go global as well. Defensively global I a lot of the fixed income is stayed stayed in the US but this it does Michael natural resource stocks. They can have a global global emphasis. Global infrastructure stocks that and so that's also global. Bonds like this can sometimes have a slightly higher expense ratio than other ones is is that the case here is this does this kind of buck that trend. So in this in a martyr category it it puts it in. If you put an addict category with the regular bounce on this when would would tend to be more expensive to to hold some more esoteric area asset classes. But if you compared to other funds. That also had a similar inflation protection objective. And that also invest in a variety of asset classes. The expense for this one and it is. Right on average the competitive compared to old spears. Her goodwill Jeff thank you very much for the time we certainly appreciate it and we'll catch up with the soon. Thank you. That is Jeff holt for Morningstar in the two funds that were talking about here we've got the principal diversified real asset fund. Ticker on that is he all our DAX. We also of the principal global diversified income fund. Ticket there is PG. Beat a acts of both of those funds coming from Jeff hall that Morningstar on a mutual fund Monday. All the time we have for this hour of the financial exchange makes your head over to financial exchange of dot com to get all the latest info. Tucker silver Barry Armstrong and chuck is out of we calculator right here on the financial exchange radio network. Are you financial advisor who lacks a formal succession plan you're not alone according to investment news 43% -- financial advisors are over the age 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 Armstrong advisory group is a regional firm and we are looking to grow our business through acquisition we will consider both are hiatus and transactional oriented firms with a solid stable of young advisors who put your client's needs first and provide them with -- service and attention to which they've become accustomed if you're interested in talking with us please call me at 803934001. 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 for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917. B 900 workers at leader bank dot com. Member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. 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Or visit leader bank dot com member FDIC equal housing lender and MLS number 44950. Subject current approval leader bank a step ahead. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage yield this is an online product only and there's no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice 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 yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. And me. This is the financial exchange with Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day your city your world and stay informed. And up today to promote economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck son. The stock market has been on one heck of Iran that'll last twelve months and it's not showing much sign of a beating. Hi everybody it's very and chuck with you here on a Monday morning and looks like the rally. To slow it down but still continuing to. Yes still moving upwards I mean obviously we get the Dow one now halfway to 24000. That just over 2.3 five. As the might be enrolling people into a false sense of security but as I was mentioning last week. Earnings have been really good this quarter against it's been a good quarter for earnings and with that you lease at their say OK the war on where things can go. Is higher than it was before. You know we use speaking of earnings and revenue. I was just moments ago looking at me Amazon's stock and within the last year it's traded at 710 dollars and now it's over 11100 remember when we want to talk about what it would remember what we thought or will it ever get to. You know where a thousand it shared aged blew through 2000 blew through 11100. And continues to rally. Its. It shows no signs of slowing down I mean the court they had no where they reported last week was about as good of a quarter's you can have actually two weeks ago now. As good of quarters you could have year to date the stock is up 49%. The other sales are going to be about a 170 billion dollars this year and still growing at 30% year over year there is no company in the world that's doing that. No right yeah that's that's a thing it is especially big company. Don't know doing so that size gross revenue by forty billion dollars a year in and says yet next you're gonna do fifty. They'd wait what why is where the reducing prices on other sellers items I saw this in the Wall Street Journal and there it sounds like. You know they've got this huge lead in terms on license would get about 5050%. Of all new on line it's that I. It OK so let's just let's slow down first and explain what that means. What this means that for every new dollar that gets spent on lines of the dollar that used to be spent on an in store retailer that now someone says hey im gonna go buy this on line. Every dollar that get spent 55 cents of that dollar. Goes to Amazon right look at every other retailer in the world gets 45%. Of new on line sales. Well and you know what the the other day I was wearing very fashionable hat. And young man he wanted to know where I'd purchased my fashionable hat. And without. A moment's notice is that what got an Amazon Amazon has become a market. They have if it does it's it's kind of late. And generally is it that tried to use another term but. He you don't think about these two would you say going shopping you say aren't as good it was you don't even think all go to Wal-Mart Earl Buddha. I don't know overstock dot comic and I know a lot of shopping is going to put him as a T 55% of every new. Dollar that's corny and online sales and. In what they're doing here is they RT keying. Goods that are listed by merchants on their sites are not items that are being produced by Amazon or. You know directly handled by as Amazon a third party vendors that are on Amazon's platform ring connect. What they're doing is they're taking those items. And they are applying discounts to dumb beyond what the producer of those goods would typically be listing the goods at on. Amazon and so what they're doing they are doing it they're taking out of their own pocket they're not charging. The the manufacturer of the goods for this they're saying look you won it was too good for 22 dollars. Great we're gonna listed for nineteen won't pay that difference is two dollars to sue the kind of retailers still gonna get paid in full. But Amazon absorb that extra discount. And wouldn't be allowed to do that China. Is Wilbur as a big problem that Guber had in China they weren't allowed to you know. In China folks you're not allowed to run a business too and lose money gain market share but what Amazon is doing here. Some would consider to be predatory. It could be in and look at I've said for a long time I'm someone who owns Amazon's stock but I'm also someone who does look at some of these things and say look this is anti competitive in the long run it's interesting we've talked about the slot is not anti competitive for. The consumer. The consumer is able to make out like a bandit this because they are cutting prices for the consumer right now. Who is anti competitive for our. Other retailers and specifically people listing their goods on Amazon you know that are not. You know that they're not selling the good stands on Amazon's not a retail for them the more a marketplaces human rights and pray in that case. There are some anticompetitive practices that are employed there and so from my perspective the laws that we have you know kind of on the books now. They're not meant to deal with Internet retailer's Internet retailers didn't exist when these types of you know laws were exit were put into place you know and so. For now it's been a boon to consumers but. At some point you worry look does Amazon is so concentrated that they can do whatever they want as far as pricing goes. And that's where you have to start to worry about it. Well I think you do EE because they become. You know what purity 55% of the market is so they are the market for online retail and he really have become and you know so what happens is somebody who's lazy like me rate rather than going it say am buying an journalism by the savings and repair pants. Agree your people becoming indoctrinated in the don't English opera director guesses to our own fault mean that that's that's just. Faulty human behavior. Yeah I mean you know people like to argue that you know different things are the mother of invention night and argue that laziness who's you know got its elect people. Invent things because they're lazy they say hey. I don't wanna have to get up to change in jail he's the rope remote control that is pure laziness plain and simple and it's a beautiful but it's it's laziness same thing take. What are you go out and shop I want I'd rather just sit on the couch OK great here's Amazon were released. Janet Yellen is going on the speaking circuit cheer her services at the Federal Reserve will no longer be needed after February. Fifteenth I think it is of next year actually she can stay on the Fed catching the state he keep perceived as she said whether she's gonna stay on. She is not specified to this point. I would imagine that's. I tried as any fed chair ever stayed on afterwards. No rehearse her appointment to use the she's got several years left is so she can stay on as fed governor. Right the Jerome Powell is it is has gotten the nod and Tucker just reminded me that I got that Vick write to him that quick frequently wrong. But he's he's like Janet Yellen who liked isn't here today I talked to several Beck talked to Kareem buster. And he said that he is basically Jerome is the same mister. I think you're gonna get very similar policies bars rates go he does. From everything effort it takes a slightly more deregulatory approach on the other regulatory side of things and so. You might see some ships around as far as capital requirements and things like that out and anticipate the only huge waves near being made. But yeah I mean he he largely is a distinction without a difference when it comes to policy going forward. You know we tend to have very similar views to Janet Yellen and I expected you won't see. Any east give significant departures from the policy that we've seen. Over the last four years now. Okay so she can stay as a fed governor and her her salary probably goes to 18200000. In that ballpark I ought to look to see what with the governors get paid now that's a much. You know based on on their education and nothing to do that she do that one speech if you wanted to. Clinton is gonna say is if she leaves the Fed right she can go out and make probably the that are 23 million bucks a year at least for a few years. I would do one speech a quarter I would do you know what to do might get my million dollars a year one speech a quarter said work four days a year and then and just kind of do my thing. He's knee by and a million a year well no but you know obviously at have to take a second job SI have a sidekick I have a side B into over driver on the side you know just to make sure I can make ends meet. Terry that coming up. We've got a fascinating interview especially street those that view corps in the restaurant and hospitality business. Is gonna ring Trudy. Rachel Abrams is a reporter for the New York Times and she's gonna talk about how there are too many restaurants now. From a consumer standpoint. How much further our age you know like when I try to go out to a restaurant on Friday or Saturday night what's tough to get a table. But there is evidence that we have too many restaurants across the country and Rachel and shock will be talking about. What the impact has been why and how Wall Street has created too many restaurants that is next from the financial exchange radio network. Markets continue to fluctuate but we've John you covered get your daily update on what's hot and what's not a pro Mike Armstrong every morning at 1030 boldly on the financial exchange radio network. Troy seventeen has been a banner year for stocks but many airports still caution investors to prepare for a correction while some out there may be fearful of a correction I want you to be ready for one I this is Mike Armstrong and I've got a brand new guide out this month designed to help you prepare for a market correction to guide identifies seven core factors each of which you should pay attention to in order to protect your assets and maintain a successful investment strategy is guides available right now by calling 803934001. That's 803934001. Take necessary steps to protect your interest regardless of market performance call my office right now and get your free guide seven signs a stock market correction at 803934001. You worked hard to build a strong portfolio let's work to keep it -- 803934001. We can download got right now Armstrong advisory group dot. Tom securities are for the 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. And he spent the last thirty or forty years building your financial planning business. He worked hard and your clients rely on your. But what about when you retire you have a team of dedicated professionals who will care for your clients in the same fashion as you do every dot about a succession plan for your clients our firm the Armstrong advisory group is a regional firm based in Massachusetts and we're looking to build our business through acquisition we are affiliated with an award winning broker dealer RI AA and we have superior service capabilities we work with clients and all six New England states and 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 secure America incorporated member and SIPC and advisory service is offered for securities America advisors incorporated burials are represented their arms or advisory group in the securities America companies are. Unaffiliated hi this is very Armstrong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage -- this is an online product only and there is no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice that don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new east savings account that has a one point 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. That's 8668485699. Let Tom the team at Cushing in Dolan help your family the way they've helped so many others colleague 668485699. Or you can download the guide right now from our website legal exchange showed dot com that's a legal exchange showed dot com. The financial exchanges live on FaceBook and YouTube watch Berrian chuck discuss the issues of the day and see which one smiles at the most. Is it financial exchange radio network. Our New York Times reporter is running a few minutes late so we're gonna move onto another story regarding air B&B. And it sounds like me. Favorable relationship that they entered into with San Francisco's biggest landlord. Yeah this is a company called Veritas investments which is now law under agreement with. Air being beat to be able to list there 5000. Units. In San Francisco. On air B&B if their owners choose to so they've got. You know 5000 units in San Francisco and pretty much what they're doing is saying look. If you are renting one of these unitary view only one of these units we're gonna lie I don't listen on air being beaten and so. It so effectively getting a huge number of these properties potentially. Into that dale earlier short term rental market here. And you know on one hand you look at and say OK if I'm in the need for upon in town for a week or something like that maybe you have some additional options and drives the cost down there. But I have to think you're trying to buy a property in a the Sanford Cisco region this just further compresses beast the supply that's available is now people can just rent these out. Well that's that's who's gonna bring up but I guess one of the big problems they had not necessarily with this company that others at the you know a lot of people are sitting in rent controlled apartments. Right you know their pay and 800 dollars a month for a department that might normally rent for 4000 dollars a month which is a classic example why rent control doesn't work is now and I'll just ask anymore. Rate. So. Hey San Francisco's kind of hub. For me this air BB has not gone public yet or talked about when you. Know they haven't I have to imagine. It's these so looking at where they are right now they look right to me I would imagine that 2018 is the year for them. You could have looper and air be Indians here I wouldn't touch Hoover. And I wouldn't touch him. Lot of revenue. Lot of revenue lot of revenue not a lot of profits rate rate and the ending but it will see have this new CEO. Settles things down. You might feel differently it's excellent that that's that's. Usually I just it air being BO look at them and and where they stand right now. And just the this year you know size and scale of them as well as. You know what what they do to like that they're business doesn't have a lot of overhead. Right you know overs Dodds who order you like Hoover is a capital intensive business air being beat. You don't have a whole lot overhead you know again that's I like it appears to I like a business where you said look we've managed to get rid of you know all these fixed expenses. There every B does have a whole race. And its labor intensive Hoover's yes. CBS a local company in New England based out of Rhode Island they beat on earnings. And news that may be bigger this advertise. Came in a little bit better than expected on earnings here the on their conference call this morning they deliver rube. Very deliberately said we are not taking any questions regarding any potential mergers or acquisitions at the time so. Pretty much it's it's a non denial denial of saying look we we can't talk about something that we may or may not be doing if you were doing it you just say we're not doing so it. It's what's against the law albeit it is people need to understand people pick other being evasive or they're being tricky up and others got they've got non disclosure agreement signed as they're negotiating and so forth and they're just trying to get a deal done behind the scenes not sure that day who are your thoughts on the deal CBS said. I ate for the short term I think it probably has some pain for CBS shareholders just because. I think that they're gonna be some significant costs associated with acquiring Aetna. But in the long run I do think it is a major positive for them just being able to integrate that chain of care and reduce some costs there. I think he could be real real boon to them. Not in the long run there we are now joined by Rachel Abrams of the New York Times. Can talk about. The article titled thanks to Wall Street there may be too many restaurants Rachel thanks for coming on. I think democratic. Rachel let's let's talk about this this thesis of this article can you talk about what you were looking adding kind of what got you moving in this direction. Sure and you whip my my colleague rob catalog that I am will really intrigued by some of the indication that we thought that there are too many restaurants the United States and it doesn't look like we have a hole what do restaurant cuts. Across the country close Boehner we do it's really hard to see that. But what we can't see is that sales are starting to decline a little bit. And loan default rates seem to be picking up a tiny bit even though they're pretty much still lower than they were at the height of the recession for example. I'm restaurant learned. And so we're curious about is whether this flood of money from what primarily from Wall Street and Wall Street investors. That has helped fuel the growth of restaurant that country over the past fifteen years. What would've actually reaches saturation point and that's kind of glued to the question that we that had to answer the story. How much money is poured into the restaurant industry over the last decade yourself. It's really hard to measure but certainly billion because. You've got on the one hand you've got private equity firms that are buying. After the company's like for example Burger King was purchased by a private equity firm in 2013. I believe for several billion dollars. You also has armed. Bank debt that's helping to fuel individuals. Or small companies purchasing am franchises for example though you have you have berms that wanna. By thirty Burger King they're thirty McDonald. And sometimes those transactions are being killed by a bank that you've also got private investors that are putting their own money in its. So over the years it's hard to quantify exactly but we know that there's been a significant number of at dollars put into the industry. So we've had all this money going into the restaurant industry are Americans actually eating out more in order to fill the additional capacity that's been created. For the triple that yes Americans have generally been eating out more. But the problem is whether or not that's another key whether they're eating out in. Do you to really support all these new restaurant. And one of the total dollar spent could be more for example there's people are spreading those dollars out all across a well a larger and larger number of restaurants. To everybody's getting sort of that smaller share of the pie and they don't forget the metaphors that. Looking at the other restaurants in and the ones that are doing well vs the ones that are struggling are there any trends that you can gather from that. Well in general we know that aren't that bad the Applebee's segment of the market for example it's sort of family casual dining. That's seem to be really struggling and there's a number of reasons for that. You have for example people ever to put people discredited. Millennial don't wanna eat at their parents' restaurant for example and the kind of into the Applebee's that Chile is that all of cartons and that sort of category. But also generally younger folks that would do you know him to we're talking about millennial. There is this trend toward fast casual restaurant where he can customize you pay a little bit more for better ingredient. That's seems to have been a trend over the last few years. And we some mcdonalds for example we saw some of these big fast food companies try to. Jump on that bandwagon a few years ago with. Mixed results and in some cases not a lot of success. McDonald's for example started educating more or. As place slightly more premium options but ultimately if we see that customers want their dollar menu items for fast food. And their interest in the these fast casual option. And that isn't a lot of growth in areas that those the family restaurant style that I that I talked about and and the fact the committee meanwhile are trying to figure out how to capitalize. On the trend of fast. You know fast casual it's police of the world without losing their their base of customers that want to keep it fast quick items without too much concern for help for example. Are good Rachel thank you very much for the time we appreciate it. Thank you that is Rachel Abrams from the New York Times there appears your thoughts on this obviously you know talking about. The struggles of some of those chains like an Applebee's red lobster olive garden and so forth what have you noticed I mean not just from a one deals but across the board. It it sure seems like people are going to those restaurants. Play agree and in naif regulate a lot of us like to go to family owned restaurants but what he once that you guys and talk about this. Americans are working longer hours. And and beer ever growing food hurry but 44 cents per dollar for by American families are being spent and restruct. That's way too much it's a lot. Is that they probably failed it twice as much as they should be. When you look at a family budget right if in if your family budget struggle in maybe you're retired or maybe you're going to work and. Take a look at the end of the week how much time how much money you're spending and take out of means yup even if you get cheap takeout. You can make a meal for a fraction of the cost of what are Purdue's take out costs he may have to spend more time shopping on Sunday Indian food prep on Sundays and you like. But look at your family budget if money's tight that's the first place I go. I'm proud to say I've might cost of once down to around three dollars a week right now end it's all because I'd. Make all my own lunch is never it's if you you've got to do little bit extra work so pay on their Saturdays and Sundays I don't get to go out as much as I used to but. These mean awful lot of money. I'm the expert who up next will be talking about Rhode Island requesting. MBTA. They expressed surface between Providence and Boston is it a reality. Well we'll talk about that when we return from a financial strength rating and. The financial exchanges of live on FaceBook so make sure to let your page and watch the guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense of leader 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 -- seventeen has been a banner year for stocks but many airports still caution investors to prepare for a correction while some out there may be fearful of a correction I want you to be ready for one hi this is Mike Armstrong and I've got a brand new guide out this month designed to help you prepare for a market correction to guide identifies seven core factors each of which you should pay attention to in order to protect your assets and maintain a successful investment strategy is guides available right now by calling 803934001. That's 803934001. Take necessary steps to protect your interest regardless of market performance call my office right now and get your free guide seven signs a stock market correction at 803934001. You work hard to build a strong portfolio let's work to keep it call 803934001. We can download dad right now and Armstrong advisory group dot. Com securities are for two securities America incorporated member Finneran SAP C and advisory services are free to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated and he spent the last thirty or forty years building your financial planning business. He worked hard and your clients rely on you. 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 have you done 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. 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Unaffiliated this is a special announcement for a landlords chasing down only rent payments and making trips to the bank to deposit checks take hassle out of rent -- with zero -- banks all mine rent collection tool zero automatically deducts tenant's rent and deposited into your account visit WWW. Dogs he ran dot net to learn more we see rent your payments for each unit to receive regularly on the same day every month tenants pay nothing in the first six months or three coral landlords visit WWW dug see rent dot meant to learn more or call 7816 or 18691. Hi everybody is very Armstrong and potluck ski from the law firm cushy in dole and we're talking today. About that state and asset protection strategies. That can help reduce or eliminate your state taxes. But is it true that a married couple living in new wing and with two million dollars in assets pays eight voluntary. Gift tax. A 100000. Dollars for the government if they don't have trusts in place I'd certainly can't be certainly depends on what state and to be let you know I'll let us say Calif if if you if you have assets and you can't each state has their own exemption. You know like the federal exemption amount is 5490000. Dollars you can pass that amount. And state tax free to anybody you want. In any state. But a lot of people say oh we don't have that kind of you know but. What you forget about is the states. A state tax system very they have their own system. And each state has their own exemption. Which can range from you know a million dollars to 201000005. Is around here 2.5 million you know and then some states don't have any. State tax the only one in New England doesn't have one news New Hampshire that's correct New Hampshire the only one in the in New England that doesn't have a separate state the state tax. And so the goal is by doing basic estate planning and using trusts you can double whatever that's data exemption amount is thereby hopefully eliminating. Voluntary estate taxes. Up to whatever that exemption amount is double. Request your copy of Todd brand new guide it's called reducing and eliminating the state taxes. You can call and receive the guide the poll number 8668485699. Or visit his website it legal exchange showed dot com net. Legal exchange showed dot com or call toll free 866. 8485699. Markets are odd time. But questions remain about whether or correction is coming. We've got you covered every day with the what's not and what's not from Michael Armstrong. Mornings at 1030 only on the financial exchange radio network. I don't know what your politics are good but gene their Armando who's the governor of Rhode Island. It strikes me is see them got a governor I'd like to have she's always pitching for business. And this next story were talking about is related to Rhode Island trying to get express service between Providence. In Boston not a very long distance when you when you look at it as the crow flies. No it's not it's probably what maybe 6570 miles so world and I are. The last X and so pretty much would Jeanne Armando is doing is she is asking the MBTA. To run express commuter trains back and forth between. Providence and Boston just in order to make guy getting between those two cities. A little bit a little bit more rapid and express service right now is not offered. On that Providence stole my line. And pretty much. The issue at the moment appears to be a bottleneck at south station more than anything else just because. You don't have enough platforms thereto and to make sure you have the available space for all the necessary arriving trains and and so that appears to be that the issue that's holding things up right now. And so right now it takes about an hour wrote over an hour rather to travel the distance there. But you may be able to get that time you know cut down by twenty to thirty minutes in that could open up some significant possibilities as far as neo getting more economic activity down to on state road I'll. Let it be. You couldn't beat people you know company like nothing about Citizens Bank rate eight they've got a lot of their executives in Boston but I'm still a huge facility down in Providence. If he could get back and forth and thirty or forty minutes boys eat you you have a lot more commerce to your point going between the 22 states. You could now while south station they there are some discussions going on. Regarding expansion now okay and trying to figure out hey how can we expand the capacity of south station. In order muted to potentially take on some of these projects there because that is the the biggest bottleneck right now at the moment. South station only has thirteen tracks coming in OK at one point he stepped 26 but it was cut down. Non justice service you know intended to give diminished at certain points. But that the thought is to try to grow that you know back to somewhere between twenty and 25 but tracks that you have coming in there. In in that way they maybe you're able to make some of these connections and start to develop. Some means of transportation beyond simply adding additional lanes to 128. And so forced our Boston forefathers didn't do us any favors today in terms of north station south station and a you know lack of continuity. Now it is obviously also you know the lack of the it's been talked about an awful lot the north south rail link you know linking those two stations would be something that people talked about as well most the proposals I've seen that the the ridership wouldn't be as much as people looks. Act. Now he in a week from tomorrow truck I guess we're doing our remote broadcast and really going to be a bit Bertans yeah I would get a big day on the 14 November. Hope everybody can join as the the whole theme and I don't mean to be Debbie downer. But. The big concern I have the site I look at things from a value orientation when I'm making investments in when I'm giving advice. And I'm a little worried about the market being overvalued them all very concerned about potential stock market correction occurring. And to share just some statistics with you as to what makes me the most concerned. About stock market valuations and the potential for correction now. The way this thing at Bertans is going to work it's sponsored by WRKO we thank them for that. It's going to be. Next Tuesday's truck and I will drive to Burlington mask. Will do work show there's a will be here from ten until noon in your welcome to come in and watch Stewart show and participate. And then we're gonna have lunch together and then once that lunch is completed I will share with you the statistic and now Austin. Statistical analysis that we've been conducting over the last several weeks it gives me cause. And makes me a little bit worried about equity valuations so if you would like to join us for lunch it's free by the way the toes that's part rate freak. If you would like to join us and give you a phone number to call that he can write it down and I would actually. I wouldn't wait to talk to the wife I would call now. Because the eat this things filling up I think there's I last I was told there 96 seats available. The number if you go to Jonas is 800. 393. 4001. That's important it's a fabulous and when I say if that this restaurant. You will be very impressed with the the service in the food. 800 3934001. It's free you'd have to call an advance and you must be registered we have to know you're coming. In order to get a free ticket. So do the phone number one last time for the Bertans grill event. It's it 43 turnpike road in Burlington Massachusetts it's educational event it's a week from two more that's November. Fourteenth. In the phone number is eat hundred. 3934001. How's that all right. Okay. Let's talk about laws this rivals the Intel and AMD deal they're trying to combat in video who's gone crazy Nvidia what is it going crazy they're gobbled up more picture like that. Yet this Intel is announcing that they are combining. Two with and you work on a chip on effectively to combine. Both an Intel processors wells and AMD graphics unit. In order to try to compete with Nvidia. Nvidia's been one of the hottest stocks. Really over the last two to three years largely because a lot of their chips tend to be used in all of this crypto currency mining for a bit going and so forth but also. Nvidia chips potentially have some applications as far as. Self driving vehicles the processing power that's available on some of these chips nowadays what I heard of that kind of development. Great at what I had heard chuck can lose in this is just through the grapevine some blogs that I fall. But what I heard it was whoever goes for the self driving car first with its General Motors Tesla looper hasn't been Google. They're going to be using Nvidia chips. It's it's probably likely okay Nvidia is the biggest name in the market right now for that kind of processing power. Where new AMD is is done a nice job kind of avoiding bankruptcy over the last couple years and in some out keeping themselves afloat. But they're still fraction the size okay. I think this this teaming up with Intel gives them some resources to try to compete but I AMD. You know most people probably remember in the they had a chance to knock Intel off their perch back in the early two thousands and yet they they were. They were close probably back in 05 no sixty knocking Intel off and saying okay this is really eight to company market and they just. They do they poorly managed a few product roll outs. And then went into while the recession just me having a ton of cash hemorrhaging out. And they've never recovered since then so this deal. With Intel. Gives them the potential to compete against Nvidia here Nvidia still probably has the leg up right now. But this deal at least gives a little competition to a market that I think badly needs some is Nvidia Israeli. No Nvidia is based out of I wanna say. Once California waiting to Cupertino and a Santa Clara Santa they're with what's oil doing today. Oil is up at the moment at least it was earlier when we take a quick look now via oil still up 5684. Up two and a half percent. Remember what I told you Saudi Arabia will do anything to get the price of oil up in time for their IPO will. That included evidently arresting half of the royal family. Yet I don't know this is quite what they had in mind that and this is going to raise some real questions not only arresting. Seventeen members of the royal family also one who died in a helicopter crash yesterday no no one knows the circumstances behind. Why he was in this helicopter like was he trying to flee arrest was he you know shot down and that no one has any idea why this helicopter crashed. Now but it all appears to be the work. Effectively. Of the Saudi prince Mohamed bin Sul Mon who was second in line to the throne next in line rather. At this point he's 32 years old the moment and pretty much taking out some big power players inside of Saudi Arabia. And I think you know this reminds me of the night of the long sword. In Germany yes 38 yup and it's it's very similar to that. And you know prince bin cell Mon. It kind of the contradictory figure in some respects on one side he's the one who's been pushing for a number of reforms within Saudi Arabia allowing women to drive. Things along those lines and on the other hand he is very hard line against Iran and so this is something. You know the the saudis came out last night and said that I guess one of the missiles that they shot down over the weekend. Was in somehow someway influenced by Iran. Many viewed as a potential act of war so it's is that there's definitely some some moving chairs in the palace there. Down in Saudi. Arabia and she repaid the prison is that they're keeping them idea if whiz with the four seasons or whatever Noah Ritz Carlton restrict nut straight guys. And at canoe and I went to prison when I go to prison I hope it's at the Ritz Carlton at C get the caviar when you wake up every important news you know well what a tough day off. Off the all right up next will be joined by a ban fox Ruben talker I see we're talking about what the Amazon echo here Amazon echo plus it's the second generation and there's a plus version apparently so we're gonna die and that. Well I pattern in the regular is absolutely is I I we did now target the better one that waited. That's the idea now okay anyway that's we're talking about. The Amazon echo plots its do it even better fuel that's next from the financial exchange radio network. The financial exchange with -- -- is live on FaceBook and YouTube every morning beginning -- and this is the financial exchange radio network there are many benefits -- early estate planning among them keeping your assets out of -- and protecting them from -- nursing home but did you know but you also might be able to eliminate your estate taxes every week on the legal exchange -- -- do -- educates his listeners by telling them how to protect their assets Polanski is an expert -- elder -- taxation and -- partner with -- and -- is a brand new guy that will show you how to increase your beneficiaries inheritance by decreasing your state taxes and in some cases eliminate those taxes -- leads an experienced team at -- -- -- which has been helping families like -- with their state claiming for more than thirty years call right now to get -- new guide called passive protection strategies at 8668485699. 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To financial advisors are over the age 55 and many have no contractual agreement to care for their clients once they retire hi this is very are strong and we might be interested in buying your practice you worked hard but now it's time to find a successor the -- drug advisory group is a regional firm and we are looking to grow our business through acquisition we will consider both RI AA and transactional oriented firms with a solid stable of young advisors who will put your client's needs first and provide them with -- service and attention to which they've become accustomed if you're interested in talking with us please call me at 803934001. That's 803934001. Or visit us online at Armstrong. Advisory group dot com securities offered to securities America incorporated members and SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are. Unaffiliated hi this is very Armstrong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking when he one point 15%. Annual percentage yield this is an on line 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 log on to leader bank dot com get all the information about this great offer and sign up today before the rates change yet. Free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. Security suffered two securities America Inca member finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong represented as Armstrong advisory group in the securities America companies are unaffiliated. Vote on our daily poll question and financial extreme show dot com while you're there glare of the media player and watch the show while you work. This case the financial exchange radio network. This segment of the financial exchange brought to you park by a leader bank it's not too late to get a grip raid on a home mortgage. Leader bank has some of the most competitive rates around so call 87769179004. Visit leader bank dot com. For more information. Ben Fox Reuben of CNET is with us now here to talk about the Amazon echo loss and thanks for coming on. And what is the echo plus for for for folks who are familiar with that what what is the system actually do just to begin. So the Amazon echo is Smart speaker at that allows you to control. Different Smart home products around your home like turning on and off the lights with your reported. You can also play music at the weather or order repeat all the different dot using. Just report. So what is the echo plus do that the base Amazon echoed doesn't. So the echo what the book of the same as the previous Amazon echo. And it works mostly they're in that it is cheaper the previous Amazon echo what 180 dollars but what sparked a hundred. Bet you dollars and it also include an open call Smart home hub in side. What exactly exactly you. So Smart on how uses to be great yet they know where if you. Act new light bulb into your Smart home it was supposed to be able to immediately recognized that it would be easier to. Also Smart bombs stopped where the before. You know for instance when I was at home I needed added Phillips he's Smart ball. And then download Arab. That up in new lap with the bridge there was this really complicated process and honestly was wondering. Why don't I just turn a light on and off with this wedge this is supposed to make it a little bit easier and therefore hopefully get more people to adopt Smart home. How much further does this system have to go before it's finally able to do everything the people want it to do or. Does a pretty much do everything soup to nuts at this point. It's a lot of this is a work in progress. Be a lack that app that it integrated wit. Doesn't have all the features that you would actually won city can do all the Smart bombs. Did you Beatrice but in doing however. I think that it's a work in progress and every single time every day Amazon and also global. There are a lot of folks that are working on Smart home and outsmarted the dot. They're constantly getting better and improving these technologies. What are the biggest things that are missing from the elect's app in terms of the functionalities that you describe there. One of the things that blatant significantly missing for a long time applies to multi user authentication as basically. It. You and I work at home. You wouldn't actually be able to recognize two different people to different voices that actually got at had been fairly recently something that global provided with the Google home for a long time and needed a little bit easier for people to personalize their Smart home. Hub and there are out there they're Smart they're open. That recently it get added then so that is something that people should look out for and it might actually include personal station going forward. It do you need one of these in each room if you're going to get this orgy just need one for the whole house how does that work on that front. Don't bet that's a good question their religion depend. How much of a super user you wanna be there are people that I've spoken to that do used it all over the house they put it in a globalized they put. We're back room kitchen and living room and people that adopt put all sorts of different Smart home product. You don't have to do that if you EB. Kind of curious and when he witnesses like you may wanna just buy one. Cheaper version dot ED echoed dot don't we start at fifty dollars there's also the global home any balance also fifty dollars it just kind of tactic is now used to wouldn't wait and see whether this is the product that you really want. If I just have one of them how far away is the maximum. Boyce rains like an IV in one room over and it still works the. It would work best when you're in the same room. But you could be one remote or and it will pick up your point if you'd speak loudly enough yeah if you're and breathing room where he would let's say you're in the kitchen and and it in one room over and you want to start playing music if you use racer Boris are you already have what are Ben and you can get it to start playing music or tell you the latter. So that is helpful. The two concerns that I have when it comes anything Smart phone number one security number two privacy. What is Amazon do to protect you on those fronts. With security and privacy Amazon tries to talk a lot about what it does. Relieved that. Is that the biggest issue that a lot of people it is I have one of these things in my house is always listening for everything I'm saying. It is on constantly reiterate the fact that they they know it's always listening for a quote unquote leak word. Like elect and then it starts actually recording. What you're commands are technically a practical issues that day I tried to. Focus on as much as possible related to security there haven't been any major hack is related to pack of devices. And bet partly because Amazon doesn't fairly good job. I constantly updating and they're pretty big companies you know eighty it would be pretty hard. Hack into that being that anything can be hackable so if you are the apparently practice might not be the best product via. Overall looking at it we got about thirty seconds left by or hold right now. I have two in my house and is an edited before if you're curious your interest that you wanna do you like what. It is all about you when a test that out I would say at a local home and eat or an echoed dot fifty pocket. That's really not that much for you can technology and he work us. Very good Ben thank you for the time. Ben Fox Ruben from CNET talking about the Amazon echo plus I'm still I just I I have the privacy concerns I just I I don't know I I don't know. Does our phone replace the here is apple come out with today at the U because he. Who'd you always have your phone with him right you do win and in most of you know that Syria has voice activation now are OK Google has voice activation now. And the deal potentially might not need one of these things if that technology continues to improve very you can actually make calls through the daughter the. Echo it's you know Fran has won. Rate which is very cool yeah they've made that. You know the the adoption rate of this has been pretty slow so far anyway it's a week and get into more take one thank you'll for tuning in to the financials change again. It's very shock. And Tucker all here for the financial exchange rate and. Online so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead member FDIC a minimum Alex fees there.