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Full Show 11-8-17

Nov 8, 2017|

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

This is the financial exchange with the very Armstrong and chunks of you're exclusive look at business and financial news affecting your day you're sick leave your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. We used to refer to him as trucks off of that going forward. He won't be referenced to as the swami. And why well if you recall yesterday. At the end of the show we are talking about companies would report after hours one of those companies was snapped Chad. And trucks that he's got that feeling in his stomach about what they're gonna look like after hours. And some of the gun I was looking at a move away guess it was probably around 5 o'clock last night. And they were down their share prices down about 20% I everybody it's buried chuck and chuck that was pretty good call. It's. It would blind squirrel nut you know you though the whole bit but. This is a quarter that was at it as bad of a quarters I think you've seen from a company. Reporting in in this quarter here today snapshot was expected. To produce 237. Million dollars in revenue in the quarter. Bailey did about 208 so that you know that is just a huge miss on revenue perspective almost 15% there. Where is that FaceBook would do just the opposite right like if they said they're gonna do 200 million they do 280 exactly. Snapped jet also only adding four point five million daily active users in the quarter of 278. Million so. There and it doesn't sound too bad they've for an accurate that. While it's better than Porter. Current low bar low bar it's you know that it's of their growing their user base is 10% a year right now is effectively without works out to. FaceBook still grown attempt percent year and they get two billion users aren't you guys it's just that this speed in the pace that you need to have when you're that size and it has to be more rapidly and the expectation. Was it. They were going to add the snap was gonna add about eight million daily new users okay. And so you know they're not giving the user growth they want the revenue growth is slow. And you know the stock was punished your reason why the stocks not down more than about 12% today is that they announced that ten cent the Chinese company. Was taking a 10% stake in snap. In order not to keep it afloat so more than just you know they they saw some value there. But that's only reason why it's not still down 20% at this point. So what's the big what's the biggest advantage that snap I look at it night I say. The reason. For this company to have to justify its share price as the each of its users I mean has a much younger user. Then Twitter or FaceBook. It really is the only thing that they have going for the right now is that they they are the cool thing at the moment but the problem is. If you can't pivot from being what's cool to what's functional. Yeah you you don't survive in the long run FaceBook didn't make their money. By being cool they made their money when they said look we now have to pivot and turn this into something that's useful to more people and all of a sudden. They were able to do that Facebook's not cool place to be anymore. But I also know. That FaceBook is talking about missing revenue wit near 200 million dollars for the quarter. FaceBook instead is posting year over year revenue growth of 50% in June 10 billion dollars in revenue for the quarter. And snapped Chad announced also last night that they re designing the applications so it'll be more user friendly for people like me I downloaded the darn thing. And I can't figure out how to use say you never read my snap I tight because it's it's complicated lately. I couldn't I don't I don't like to buttery users to it's too complicated too much stuff you have to pay too much got a learning curve yeah. It but FaceBook you'd just the kind of scroll through your own pace would snap Chad dueling gonna make it easier for. The technology. Challenged sector which would be you know people like me affect. We what they're doing is they're going to make interface a look an awful lot like Facebook's of that scrolling news feed that you used to on FaceBook and Twitter. If that's the design they're gonna try to go to. With their new platform meaning get a read some of that the hidden things in menus no if you hold down this he can do that and if you press this way you can. They're getting rid of a lot of that complication which I think is good. I wonder if they ate alienate some of there and a devoted fan base in doing so. And B I also wonder if it's too little too late OK I wonder about that and also keep in mind there's a big segment of the population. That doesn't understand why you want a picture of the disappear. After five. Legged boy Anthony Weiner. Well yes he's aptly named but that's all this thing. I just breaking news and this was may be I don't know 45 minutes ago seers. Announcing same store sales correctly but wrong with their same store sales down 15%. Off fifteen point three it's. I mean that's just thank you how do you do that that's part. But it clicked imagine if you're the CEO JC Penney's and okay. Let's see what we can do to drive same store sales down you know again that our battles has to be strategic. To drive same store sales down 15%. I think it's a combination of things that's happening I think number one I wouldn't be surprised at the start to run into issues with vendors to be completely honest I would be surprised to vendors are saying look. I don't know if we wanna be shipping to Sears anymore is we might not yet we might not get paid for the good portion. OK it's good good point so that's one thing that I think is probably starting to happen beyond that. Let that they're kind of a self fulfilling prophecy they sold off so many brands and things like that that a lot of the price that used to drive people into seers and are there anymore. You know you craftsman is in the series brand at this point it's you know we did you go down the list and you sit is there any say. What's the reason to get me in to Sears used to be. Lawnmowers washing machines and refrigerators that is eight TV's real popular dinner and dvi or what but he says hey David if I'm by a lawnmower and go to Sears fund by an a eight refrigerator I'm going to Sears. They don't have that. Feel anymore now it's OK if I'm if I wanna go to a big box store for her for generator on go to Lowe's and going Home Depot. If I need a lawnmower I'm going of one of those are local law hardware store. Sears does not have anything that gets people into stores. That's a problem that's it's not good when your retail right it is not good. If he has gotten your flu shots I have I got shot last month the you know attract I have not yet I'm hoping to the next week to. Tucker no I don't believe in the flu shot. And I think it's garbage in a scam. I have done this flu shot and talk over decorator Huckabee is game doesn't cost any money. I. Alan Alan flicks the error the jets did think that we're being in objectives. We sinners it's a scandal like time or you know I I do feel sick every time I take you there I just I feel myself dying every whose jobs it is Walt poisoned I've got in over a decade and I'm fine. IE. I hope my Yahoo! this isn't the thanks jock I hope you vomiting of America. I anyway if I get a flu shot in general the news I've couple nieces that are doctors now best you know at at best friends or doctors and the medical profession. As it. You know these things that it because there's a lot of myths about you know and he you do hear things you shouldn't get one they don't work either injecting poison degrees east. But they talk to people in the medical profession whether it's nurses or doctors and all the all of them if you talk to anybody you know to nurse or doctor. I think you'd find to be very rare Whitney didn't say yes go get Lucia Ali that's that's the consensus. Get a gain and I've heard the same thing in view of the down sides are incredibly minimal some people complain all I feel a little bit sick for day after. Well give if you feel you know slightly AT and so forth for a day after all your body's you know kind of adjusting your immune systems building up. It's it's working like I've had the flu before. We have very. The Eddie he's miserable like it's its own words like that's why I get the push up because if you have the flu you know it's not something just knocks you out for a day in the new back on your feet I had it when I was a senior in college. And I always. Out of commission for about a week I lost ten pounds okay. You know in its a good way to kick start my diet and ago maybe should get Tucker you if it's kind of tough for both of the dropped. There's a myth one of the myths is that the flu. Vaccine contains a live flu virus if they so it can't actually infect this according to doctor. Another. Myth is that if you're young and healthy like Tucker you don't need to get the pollution death they're out. That that's also ebitda of 42 doctor Taylor there have been these doctors with the CDC committee a PV III believe doctors generally speaking. I I take my I. I I can't tend to get my medical advice from doctors like it might tax advice from CPAs equipment legal advice from lawyers in my. Mechanical advice from mechanics. You know these kind of follows doesn't like you should get your medical advice from a dock. They're yes I would prefer to receive from doctors opposed to late some of these web sites that are I totally don't get the push up because it's actually gonna kill you know. Either your wives pregnant by the way. No now. Sure. Anyway pause and a new study in in back in September there's a new study. And it reportedly link be decline between first trimester flu shots and miscarriages in pregnant women. So there there was ruling but experts. Say all expecting moms should still get the vaccine anyway the vaccine is safe for all three try masters. And protects not only mom but it protects the BP for up to six months after he or she has been born and that's important. Because the first six months if that BP and infant gets the flu in the first six months can kill that. So that it just you know I'm I'm I'm at I am suggesting they ate and I've got. Call doing suggesting solutions. And so. That is our poll question today Tucker you wanna throw out there yeah our poll question today is have you received your flu shot yet mutant cash your vote. And financial change showed dot com and I've voted no tablets you should get it talker immunity by the end it's the usual brilliant and October. Seniority you know couple weeks yeah well I mean I don't know I just eat healthy and I sleep well so on the I don't need it. You get the flu this wintry note truck and I are both good torture walls still gonna come and I don't you guys act. You're you're gonna with a note musically that we can't we can't all get yours immunity from the thing. Tesla Tesla just bought the company when we come back we'll talk to you about it. Why they bought this company use announced last night that's up next from the financial exchange network. Even without health care or tax reform all three major indices remain near record highs get the latest info on the sectors that are winning and those that aren't. Break here would Berrian just on the financial exchange radio network. There are many benefits to early estate planning among them keeping your assets out of probate and protecting them from the nursing home. But did you know that you also might be able to eliminate your estate taxes every week on the legal exchange time months do you educates his listeners by telling them how to protect their assets let's do is an expert in elder Lun taxation in the partner with Cushing and Nolan is a brand new guy doubles show you how to increase your beneficiaries inheritance by decreasing your state taxes and in some cases eliminate those taxes let's cue leads an experienced team at Cushing and Dolan which has been helping families like yours with their state planning for more than thirty years call right now to get -- new guide called passive protection strategies at 8668485699. That's 8668485699. Let time the team at Cushing in Dolan help your family the way they've helped so many others Khalid 668485699. Or you can download the guide right now from our website legal exchange showed dot com that's legal exchange showed John King. 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Hi everybody it's Barry Armstrong and Jake two Lian were talking about a program called zero rent. 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 it's been a little bit time explaining how he grant works and why it's a big advantage for landlords. It varies so we we developed the rain too odd to me the whole race yet because right now. You know with the landlord when you're getting rain checks. Low unpredictable. Missing on blow the great line in the mostly waiting he might not get all the rent until the tenth or fifteenth of the month. Furthermore if your landlord on vacation your renting your notebooks you know what he does is it really teach they'll. 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If your bank doesn't operate they can sign up for is he wrecked. Go to zero rent dot net or call them told free. 8776917900. Security suffered two securities America and members finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. The financial exchanges. All over New England go to financial exchange showed dotcom and search for the station closest view this as the financial exchange radio network. We know that many of you have jobs that keep you busy all day long. It made it easier for you to catch up with the financial exchange when it's most convenient Gloria. Just download I heart radio app on your phone or tablet search for the financial exchange you have access to all of our content including individual segments. And full shows there are gonna talk a little bit about Tesla now right. Yeah I'll end in tears were don't want to get that you and I talked about just yesterday we talked about a lot they view their one of the major companies in America that are discussed on a daily basis they have a unique problem. There are supply. Four there's there's ability to supply vehicles. He's being vastly outstripped by demand they've got Lanier buyers I think they have what 400000 people lined up to buy their model three. And they can't make more than a couple hundred more so. What they did last night is they bought and automation company at a Minnesota called her ex machine company. In it's a factory automation company. And they need to do this chart because we've covered this company ad nauseam. And it takes them I think incorrectly from here but I think Pete meet seventeen. Tesla employees to manufacture one car. Where is General Motors needs and four point 45. Yet to make car. Yet the the data that ice unemployed up right now just I can't remember exactly what the statistic was. But hearing goes so effectively essar Tesla in terms of the vehicles produced up per worker. Over that looks like on a yearly basis. They produce between eight in fourteen vehicles per worker. Whereas if you take a look at some of the standard auto makers papers about 75 vehicles per worker per year. And so Kessel is operating at about 15 of the efficiency because their course or a little complicated like they're they're not simple vehicles certainly. Well it. But are they. You know you look at the an internal combustion engine car and they have a lot more moving parts than a test us tonight I keep hearing all it's a more complicated carpet drilling not to additional transmission. There's one big battery. There's many fewer moving parts a lot more computer chips in it up but I'm not sure it's the he checked I would argue that it's a less complicated. But that engine assembly and everything is done off site though. A lot of times that the car companies are buying engines and just dropping them into vehicles you radiate in my car. Most of the car was me in the United States news assembled in the states. But then the engine came from Mexico yeah it was made in Mexico and it tells you that when you buy the car right it's. But they at any rate. This is a move on the part of Tesla to become more efficient and more productive in terms of the number of vehicles they produce a work yet it. It's something that they're going to have to do I mean they they came out last week when they announced their earnings and pretty much said look we're not can hit the targets that we had initially set for ourselves which unite both pretty much knew going in I mean we said look there's are difficult targets to hit. I think that the big question with Tesla and where they go from here. Is in and have always said this look you've got this this pre order in the U these people of pre order these vehicles out there and they've got 400000. Tremendous demand well but but here's the thing. Do they have that every year is there another 400000 it's gonna come after and then another well. Don't get it depends on how good the first 400 is right if it's. If it's Toyota Corolla good right if it's hot Toyota Prius good if it's as good as the Volkswagen Beetle I mean they keep you think about some of the iconic brands right there at the Ford Mustang. Over the years if it's a great car truck yeah people will line up people I disagree buy good quality. I disagree because the the transit in and John and I talked about this last week the trend now is towards buying either suvs or crossovers and the model threes not either one of them was the model threes sedan and sedan sales have been in the toilet this year and you'll get the best selling sedan this year and it's a Honda Civic. The Honda Civic is gonna do somewhere in the ballpark of 370000. Sales this year and I. There is no other vehicle. That is a sedan there's gonna be north of 350. To an end here and that's where the problem lies is look I get that you can sell 400000 of these things. I don't know if they can do it every year I don't know if they have the demand on the backside like. EV sales are not that how I like that's that's the thing like you take a look at overall electric vehicle sales in the US this year. They're going to be like 200000 parks. No we get the cost the cost has to come down. And the reliability has to be it this is the big difference they are now going after. A sector it is going to demean and yup. Reliability yes and you know if you bought if you talk to Tesla owners. He there's all kinds of stuff on YouTube that I've watched. If tussle owners that like the car. Will go on line and tell you all the problems they've had with it and you know at a Buick owners not to put up. No the probably give if you're someone who needs that vehicle it's only vehicle you're trying to go to his earlier work and all of a sudden you're the doors won't unlock your windows gets stuck down you know that something world was and is that they're saying I'm not buy another one of these. If this story is for all of our sixteen year old girl listeners I know there's millions of them tuning in right now. Taylor Swift will reportedly keep her new album we talked about this yesterday Tucker. Also streaming services like Spotify and apple music per week and then and only that. Will she make it available so. We should anticipate. That. They'll be a lot of I guess disc sales of this view of this album went on Saturday Friday. It's going to be Friday and her previous album 1989. Sold over ten million copies which is pretty much unheard of with the win the music industry is set up today. But effectively. She's trying to say look guy I'm still prioritizing album sales does I think it is best for artisan for my career. And she's got the clout to be able to do. But isn't she making a mistake saying that I'm gonna make it available Spotify that we later because then people and to say well you know actually we. Not if you wanna be cool there not if you wanna be cool man. And yet people rush out and get her album because they're adapting to fans I guess everyone who's seventeen years old. Is going to be talking about some park at parties on Saturday night. And at the end of girls out that seniors know guys do it's weird these days. Why why one week why wouldn't you say a among if if if you are well below with your Taylor Swift when you say. It's gonna be avail we can buy it. And I'm mature for the parent music are not sure but I I haven't decided mr. what's the make money yep and put it in on that bet that she would make more money she'd sell more albums. If she just said. Nate I haven't decided yet if you wanna listen in my music if the buy it period. They can't that's what I would instantly what would it take in the wrong. Know what you're saying makes sense but all I know is that Taylor Swift is or somewhere between 250 and 350 million dollars so I know little more partner of physicists or you can make it her business sense is pretty good so I'm with you what I I think that it would be batters say look it's only going to be an album at first but she clearly knows she's doing and and I wonder what she's on to a this. Bush she may have gotten some upfront money too from apple and Spotify very close and too young and she could've gotten a check for this to the right oh yeah. Hey coming up we'll have a an update from Wall Street and we'll talk to you about weevil autonomous cars that more from the financial exchange rated 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 take a hassle out of rent day 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 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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But did you know -- you also might be able to eliminate your estate taxes every week on the legal exchange time musty educates his listeners by telling them how to protect their assets let's do is an expert in elder -- taxation and a partner with Cushing and Dolan 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 let's give leads an experienced team at Cushing and -- which has been helping families like yours with their state claiming for more than thirty years call right now to get -- new guide called passive protection strategies at 8668485699. That's 8668485699. Lead time the team at Cushing and -- help your family the way they've helped so many others call 8668485699. Or you can download the guide right now from our website legal exchange showed dot com. That's a legal exchange showed John come. If you're real estate or property management company -- -- -- banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and real estate space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitize paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as ECH payments mobile banking remote check scanners and it's innovated to see rent payment platform leader bank has a team of business bankers that are on call to help you and they'll come to your place of business and make it as easy as possible the number to call is 8776917900. That's 8776917. B 900 find out why many of greater Boston's premier property management and real estate companies choose leader bank as they're banking partner call 8776917900. Or email BBO at leader bank dot com for more information member FDIC equal housing lender. Time now for the street watch a look at the market's performance so far today you act of Marion jog right here on the financial exchange radio network. Michael Armstrong is now with this Wall Street watch couple big stories from it earnings perspective here a little bit more about snap Mike. The SS snap Chad have been talking about them most of recorders we just we and to try and make profited as. Still yet to happen snapped chat lost. Fourteen cents a share most recently. Which was about what they anticipated but it triple what they lost last year. They are you know still struggling to. Really finding new user base and not growing new users and not really growing their revenue either so. Tough quarter for snap Chad Aldo was announced that Tencent. Big Chinese tech companies going to be investing it by about 10% of snapped chest chair shares to turn the company around that. You may be far too kind to them when it's all said and done here let's talk about lending club. Lending meeting earnings expectations it's a problems on the revenue side. Yeah absolutely soaked and doesn't know there lending club that they'd be equipped peer to peer lending network online seat and go and Trent raise money on personal loan basis happening between 1040000. Addition traditional loans as well they do a lot of right refinancing and things like that. They may match assessments like you said. They've got three cents a share in earnings that they saw revenue fall short. As well it is weaker than expected that guidance going forward so stock is down big time down 22% in this in the company. Juror called a IPO at the back in 24 TP. You know somewhere around 25 bucks a share they are down now to four dollars and forty cents a share so not looking so good. Goodwill Mike thank you very much for the time we appreciate. That is Mike Armstrong with Wall Street watch. Many of you may be skeptical. As a relates to self driving cars that we evil witches really cool. Is moving one step closer. To self driving cars as a matter of fact they have started testing fleet of self driving cars without any help from backup drivers on. Public roads. This is a big statement. Because when we've talked about looper worked Tesla werder. Any of these companies testing Thomas vehicles it's all we did with driver in the driver's seat ready to takeover. We came close to confident enough now on your technology. To do it in a primarily there's. They're doing it without a safety. What's interesting so they started testing these without that safety net on October 19 but first question is so. Imagine when these vehicles pulls up to you know stop sign in here and indeed coming out of from a different angle. And you look over for the driver you just don't see one there like. First of all just from a somewhere else in a different cars perspective just how on that must be yeah but now as you mentioned. These vehicles are. Getting close to being ready for prime time and I remember you know the last couple years we've been talking about in people every time we say these vehicles are you know probably all night when he acting like everyone says no other not going to be able to do that they can't make the decisions I make on the best driver ever. No well no. You're not humans are terrible drivers worry about it worked so cool that is just just drive around doing and and you'll see evidence of that. The the numbers if you if if you talk to the insurance industry. They know that the accidents are gonna decline that's I think what was the number 92% 95 per yet it's somewhere between 99895%. Of accidents are caused by human error rather than mechanical. It fueled a body shop that might be good to advocate at a news agency that we ought fewer accidents five years from now. And yeah what it was gonna be doing now with these vehicles is color blue I'm sorry Google what what Google's doing with these vehicles through their window division. Is they are going to allow while users. Two pretty much summon these driver was vehicles very similar to how Hoover operates. And sitting in real hop into the backseat you're gonna say hey driver and there's no driver there. And pretty much are going to be able to new kind of take these vehicles as a passenger was no win in that drivers see what they're doing that's interesting. In order to take trying to give people comfort and this is something that I like it is they've built these screens into the car and that effectively show you what the car stinking. And so as you're going through if you come up to a crosswalk it'll say scanning for pedestrians are stopped for pedestrian so. You actually understand what the cars thinking which is kinda nice did to at least see that and say oh like they noticed that is that great in give you more comfort. They're they are the party driven more than 3.4 million miles with it on those vehicles on roads. And they've driven ten that they're driving ten million miles that day. In a virtual simulator and that's why chuck when we talked about it on the scars it is widely perceived. That Google. Is the way. Ahead of everybody else and we talked about the company from MIT has some new on it is that economy get you so they got bought a couple weeks you do new. Nolan missed that you know but they got bought by a Delphi automotive. 0400 million dollars yeah Delphi its date yet Delphi is big in this as well but it ain't it really comes back to. Eight I talked to somebody at the you know the Harvard school government with him that MBA program he yeah student there yup and it he told me he said. You know Google so far ahead in the way they're gonna monetize chuck is when you order your car. And it shows up to take it worker to the baseball game whatever it is you're using it for. Yours see a lot of advertising. On your way that's how you have to watch dad's. Along with getting your traffic updates and that's how they're gonna monetize that is one of the smartest things I've ever heard so that is. Rios of Harvard guy mentioned that is that we don't usually give Harvard much credit he probably doesn't work there. No he's a student existed I'm sorry to hear that so he's saying like as you're driving by McDonald's it'll some dual flash up advertise so that. I think it'll be like customize act as so they'll know who's in the car program will be the customize ads that you normally get on Google or in your email and stuff Larry that. It'll be more those just coming up for you. Yeah yeah it is they'll see me they'll look at you Tucker in the say. Mean how trucks cut each old shoes or did you look at the issues in the shootings were aspect if you're a two under their desk. Always as. All that stuff out of there written up. And it didn't take a look at dispensary that be do you might and it marks his. Pants with ten. Patches you figure that's like so as the date of anywhere patches on my view had patches and your what's Presley museum dressed like that pay you minimum way I like Obama did you hear me. YouTube dress I am I gonna say it talker he dresses like a bomb if Turkey does not dress at your television always had a shoulder patch on that one weird shirt that never quite fit right. Yeah but it was it was a nice for. Maybe look at it. Anyway I I digress. Might what was I don't know. At its fastest on the I know they'll they'll build it at that truck needs new shoes because you trust a bum and they'll say hate Turkey might wanna go to ESW write it it's fair meisters look like crap. Shoe polish quick announcement on behalf of leader bank and I gotta tell you story. I needed small business and they didn't know how much I needed at that time. I thought it was gonna be somewhere around 250000. Dollars. I did this I needed for the security company. I needed to note that had 250000. Dollar produce for some technology upgrades some. Upgrades to it just basically technology. And you know I went to leader bank with the heat did. Was exit will look will keep you 8250. Year 200000 dollar line of credit was an SBA. And it was terrific because I only need. Actually use through that SBA one of credit now. Anyway I've gotten other banks like Bank of America Citizens Bank. There's nobody. Late leader that we needed SBA will come to your office or your restaurant loft for your medical practice they come do you. For it. They'll come to you. They'll talk to you about what type of business loan it is human need and maybe you don't need a lot of credit maybe you'd need half a million dollar permanent little to reap renovate some office space or Erica. At any rate. Leader day is one of the pop banks in New England for SBA loans might want to give them a call if your business like guy. My call I'm telling I promise the meeting will be worth your time was left essentially promised that it would be worthwhile anyway. Its leader bank dot com. You can go in emailed it PPs oh at Peter bank dot com. I know most of your one talk to somebody so call them bowl 387769179. Countries that stalled for. 87769179. Heroes here. Peter bank helped me to help my company the help me through rough after its capital. The they will help your business. I would just suggest you call Peter bank dot com or 8776917800. Millennial hole buyers are sending a chill through the rental market what's up with this. Yes so would the the theory here is that as a homeownership starts to rise again as you get some of these millennial. Finally buying those starter homes they've been putting off for so long. Is that. The places they may be leaving as renters. Might not be able to find tenants to feel. Those vacancies because of all the construction it happened in the multifamily rental space there's little law has there's been a ton I mean you have to start brand New England you think about apple on Tuesday there every huge huge and so. The the growth in the rental market you know the number of units that are available. Has been astounding over the last couple years here. The number of multifamily housing units under construction. Each of the last three years has been north of 500000 a year. And that's a pace that we hadn't seen it all in the last twenty year. Smoke so. The beat that Census Bureau last week that truck they reported. That ownership has increased to 63 point 9% up. Yup and the long term average is 65%. Yeah and and I think I don't know if we get quite back to that level because that's somewhat inflated by the over buying that happened over the last forty years in the run up to the housing bubble. But boy now ownership home ownership is less attractive. After you get. The tax reform package through to right I mean it like I fist fighting echoes through the way it is I don't think it does. You don't know how I don't think that has chants of go through with those things solid that second hole piece goes through. The second home I think does but I think the the limits on the mortgage interest deduction I don't think do I think the state and local tax thing is gonna have to be changed. I think those are all gonna be change that happened. That it might the. If two things that I think are working genes to homeownership. One tax reform potentially aid and it may be modest on the edges to your point but secondly is. The aging population. If you're ninety years old are you an older home approach going to be in the system Lavin so the and as we get a much older population. I would expect homeownership rates to be on the declined but I talked to. My friends say many of them are saying jackets. Two homes now but sell one because I don't wanna maintain two homes anymore. You get to that point where you do not want to pull me you know wind when you're younger you are raised families well we want to place on the cape and one of place up on the lake so we can get away. But as you get older chuck Kennedy. Thing about the clients that you serve. Many of them have two homes when you take them on his clients in invariably. Yup five years ten years later this idea where where we're just booed Florida were gonna want. Yeah apartment wonders of that moves the needle back if you do see this next supply coming on though if that makes it cheaper for people to buy the second homes them. You know there may be some of those apartment buildings that were built by apple on meeting yet converted to condos definite that yeah you could see and converting and maybe not even the whole building if you have veto building with a hundred units in it maybe they convert fifty of on the Condo you know maybe are we give people would like that. And member you can't get financing on a Condo. That isn't owner occupied that if you don't have it FHA. In any war finance condos unless you know 70% of the the buildings or death it's they're definitely things but you've seen some of the some of the new construction is still setting up like that or. Yeah I think you're seeing on some of those they're converting some to law hotel space is well. Really doubt that I hadn't seen out and seeing a little bit that that's going on now. That they come back and it air be it obese probably taken up a lot of inventory I would imagine yeah Ali because you have people buying properties. Strictly for the purpose of renting them out. Oh yeah he's gonna play out especially look at the Boston area is a lot of activity yup. Coming up we will be joined by Erin lash from Morningstar looks like Erin has to stocks to talk about grab a pencil and paper. Stock talk is next from the financial exchange radio network. Trump's administration hasn't passed any significant legislation yet but tax reform is front and center would ask me in here. Keep it here with Barry in chart 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've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage yield this is an online product only and there's no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice and don't delay log on to leader bank dot com get all the information about this great offer and sign up today before the rates change get. Free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. 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 -- are strong and we might be interested in buying your practice you worked hard but now it's time to find a successor the -- shark advisor as 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 have 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 there securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Hi everybody it's very Armstrong it potluck ski from the law firm Cushing in dole and were talking today. About this state and asset protection strategies. That can help reduce or eliminate your estate taxes. Todd is it true that a married couple living in new wing and with two million dollars and assets pays a 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 him 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. In any state. But and a lot of people say oh we 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 is 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 that guy that poll number 8668485699. Or visit his website it legal exchange showed dot com net. 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. Heard the last from Morningstar now joins us do a little bit of stuck talking a couple big consumer staples companies Aaron thank you for coming on. And let's start first with the General Mills this is a stock. About 20% off its 52 week high it struggled over the course of the year down about 16% while the rest of the market is move forward. Are optimistic here do you think there's continued pain coming. I think from the competitive landscape obviously we don't. Expect that those pressures both east. We think that the current focus on driving efficiency is on as well as tailoring their product mix more effectively to aligned with consumer trend. And marketing those products. Should start to gain contraction and we've seen some early signs that this could be. On coming to fruition particularly within their mediocre domestic which invented a particular case we have seen over the last several quarters. When they reported results back in September and so. I'm if we see those. Efforts start Q Chris sustainable we think that that gives further credence to our outlook. What about that the business is that if historically been strong for them cereals the prepared and proud you know packaged frozen foods and things like that. That those are areas that are really struggling now in it it wouldn't seem to be there's any turnaround coming on that front is there. You know with some cereal for instance. You know we're not expecting a material improvement in that business obviously cereal has faced a number of different challenges whether that time declining Kerry consumption. To speed lack of convenient relative to other. I'm alternatives within the breakfast day part but we do think that there are opportunities such imperial turns into in terms of calm you know. Added consumption outside of the breakfast day part which is where more consumers are actually concealing that particular product whether by. Snacking oracle. Monetary late night hours. You know within other areas of their portfolio. You know obviously you mentioned meals. He mentioned president that our continued opportunities as well pick and it's Taylor and the other from. Just the package sizes can remain hopeful moment profile of those I think it could gain some modest action in addition. The term is also still leveraging the acquisition and even need a few years ago I think extending the distribution. Their own products has pulled in these products both within different channel as well as any other. Category anything protection proved advantageous thing. On bolster our the firm's prospects as well. Marlys international we'll have about a minute left here this is another company somewhat stuck in neutral this year what's the outlook for them. You know from my perspective. I mandalit its stock price has come under pressure particularly given practice at halftime says earlier bid for Unilever which was. Quickly withdrawn. We also think that there is just he had an overhang didn't beat I'd change in leadership at a depending and in the next week or two. I hope we don't think that there will be sweeping change given the strike to realize to date particularly on the margins side. I'm until we think that the EU CEO continue to operate with a focused. I'm taking cost out of the business and reinvesting those on to fuel. President. Expansion both within our Indian marketing functions that should further helped to accelerate their toppling grabbed longer term. Very good Erin thank you very much of the time we appreciate it. Having arron last from Morningstar the two companies that we just talked about their mom goalies international the ticker on them is MD LZ. And General Mills as the ticker GI. Asks how to of those companies do when they have to compete with your Trader Joe's your whole problems call Costco. BJ's having that news seems like there's a lot of transition. Even Amazon you know as Amazon and buy the stuff that they're selling three Amazon pressuring him by that from on police yeah I. I don't know enough and I see so many changes with what people were buying now from wise in the in the shift towards more locally sourced food and fresher air food and away from all this prepackaged stuff. And if those are areas that I have questions about going forward. I I do they I I look at that industry and say boy that's. That is an industry that is right for transformation it's under the gun I thought we're gonna go whole hour without mentioning Amazon. But it was hunt could be one of those companies that brings to the forefront yup he thanks for tuning in to this hour of the financial exchange when we come back. We're talking about how many people. Make more than a 150000. Dollars in the state in which you resign. That's next from the financial exchange radio network. Are you financial advisor who lacks the formal succession plan you're not alone according to investment news 43%. To financial advisors are over the age of 55 and many had 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 -- gays and transactional oriented firms with a solid stable of young advisors who put your client's needs first and provide them with -- service and attention to which they have become accustomed if you're interested in talking with us please call me at 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 for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917. To 900 that's 8776917900. Workers at leader bank dot com. Member FDIC equal housing lender and MLS and her 449250. Subject credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank their jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by a leader bank's local underwriting processing teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member of the NC equal housing lender and Miller is number 449250. Subject to credit approval leader bank a step ahead there are many benefits to early estate planning among them keeping your assets out of probate and protecting them from the nursing home. But did you know but you also might be able to eliminate your estate taxes every week on the legal exchange time months do you educate his listeners by telling them how to protect their assets let's do is an expert in elder Lun taxation and a partner with Cushing and Dolan is a brand new guy doubles show you how to increase your beneficiaries inheritance by decreasing your state taxes and in some cases eliminate those taxes let's give leads an experienced team at Cushing and Dolan which has been helping families like yours with their state planning for more than thirty years call right now to get tugs new guide called asset protection strategies at 8668485699. That's 8668485699. Let time the team at Cushing in Dolan help your family the way they've helped so many others Khalid 668485699. Or you can download the guide right now from our website legally out. A program called Z rent. Now this is specifically. Designed. For those of you who wore landlords in used to collector checks with paper checks are gosh maybe still do. Was he rent allows you to collect checks electronically. Jail is hoping he could spend a little bit of time explaining how easy grant works and why it's a big advantage for landlords. Absolutely vary so we we develops the rain to sodomy Holdren who else because right now. You know with the landlord when you're getting rain checks. It's low it's unpredictable. You're missing envelope the right line and mostly waiting he might not get all the rent until the tenth or fifteenth of the month furthermore if your landlord on vacation in your rinsing your notebooks two would you rate does is it really digitize is no. It makes the ranked electronic payments it 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 it's a huge time savings and ornaments you are you still giving the first six months free for landlords the first six months or free and then in addition to that. If you bank at one of the participating banks he ran is always brief. Those participating banks are meter being installed and best use the up and that any bank could sign up rate make if you at a bank in Vermont after Connecticut. They could sign up and become part is the rent yup you your if you have a community bank that wants to be a member happened Collison will have and sign up and the service will then be free free. All right if you wanna learn more about easy rent. Go to Z rent dot net even give McAuliffe he wanted 8776917900. If your bank doesn't offer they can sign up for zero it. Go to zero rent dot net or call them toll free 87769179. Entered. Precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally we just make sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader back a step ahead. 2017 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 an -- protect your assets and maintain a successful investment strategy is guides available right now by calling 803934001. That's 803934001. Take the necessary steps to protect your interest regardless of market performance call my office right now going 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 -- 803934001. We can download dad right now and Armstrong advisory group dot com. Securities are for two securities America incorporated members Jenrette SAP C and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated your dream home is within reach with a Jumbo mortgage a loan from leader bank they're Jumbo loan program designed for financing an excess of 500000 dollars offers fixed or variable rates for both purchases and refinance us all originations are managed by a leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 44950. Subject current approval leader bank. A step ahead hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage 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 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 on line so logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. And. This is the financial exchange with Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day you're sick leave. Your world and stay informed and up today about an economic and market trends plus get breaking business news every day it's. And now the financial exchange with Barry Armstrong and sharks done us. You've probably heard a lot about income disparity you hear about it every election season. And what the stats that sticks out is you know today. The top 1% of American workers. Earned about 25% fall in the country so if you're that lucky one person you know your your Macon I don't know probably averaging prior 50600000. A year. And you know that that's always caused a lot of social problems because that number used to be the top 1% used to be. Making maybe 8% in the when AC used to be that maybe thirty years ago soak in the last thirty years the top 1% of American workers have gone from making 8% of the to making 2.5 percent of the pot so if you're not a now 1% year pro make it a little less than your father may have made to the same kind of work. I bring this up because we're talking about how many people make more than a 150000. Dollars in every state in the country in Walt talked to you about your state. Hi everybody it's very in truck with you here on a Wednesday and I found this very interest in check because. Often times these studies we look at only talk about the 1% the evil 1% that are making you know it the surgeon that's vacant 700000 dollars a year at the professional athlete that's vacant when he million dollars a year. But rarely do you talk about it read regular folk were making a 150000 bucks a year and household income. Yeah and so what what we have here it's a lovely little study put together by the US Census Bureau the details. The number the percentage of people in each state that may BO effectively different incomes on how shall basis. Let's start with the New England states now okay. And the state that appears to be best off as far as having the highest percentage of people making over a 150000 a year in New England. Massachusetts night closely followed by Connecticut sorry Connecticut was right there with. Massachusetts nineteen point 9% of households are north of a 150000. Dollars in income in Connecticut it's nineteen point 3%. Okay. The next state down in in New England New Hampshire fifteen point 4% bouquet of fifteen point 4%. Of households in New Hampshire have household income greater than a 150000. And that's all southern New Hampshire track that's going to be Manchester yourself vast majority that predominantly out Rhode island's the next one on the list eleven point. Eleven point 7%. Of households in Rhode Island are making north 150000. A year. That's a big drop is unity ego eleven point seven in Rhode Island compared to its neighbors at night over 19%. Also a a big guy shipped from their neighbors is Vermont okay Vermont desist nine point 8%. Of families making more more than a 150000. Compared to New Hampshire in nineteen point 3%. Last on the list is Maine Maine has to seven point 9% of households making north 150000 dollars a year. That is actually thirteenth though lowest in the United States. And the lowest mark for any New England state. If you wanna look at something interest is. Overtly a man. As early its income folks and education. Yup and what you see is like a lot of these states. That have like very few people making over 150000. In real high poverty levels. West Virginian and Mississippi Arkansas Kentucky. Idaho New Mexico Alabama Oklahoma. Montana. Take a look at how much they invest in education and look at the education level out of the workforce in those states struck. And you know I don't wanna be disparaging towards those states. But the fact of the matter is they have they lack an educated work force. Well it's it is not the people's fault is that just that they're elected representatives aren't spending money on their education that they should be you know it's it's it's not that anyone is inherently. Born less educated just they don't spend as much on a per pupil basis okay you talk about their states. Oklahoma always spends about 7600 dollars a year on education. You compare that to Connecticut which look weak critic says Connecticut all we want for high taxes and so forth and it's a fair criticism Leo apps like Connecticut spends 161000 dollars a year. On education on average per per pupil and as a result they end up with a fourth highest income on average out of me any of these states he. So they have a highly educated workforce in do you you might be grudge the some of the socialism that occurs in Connecticut and Massachusetts that matter. But you you look at the workforce. He say OK well if I would hire engineers we are whether or not in they're not West Virginia. Right if you're if you're trying to hire electrical engineers and you're trying to hire. You know computer scientists have not Mississippi community there there in New England. Known what's interesting actually have the data on a per city basis for the largest hundred school districts okay top five cities for per pupil spending. The Boston New York Anchorage Alaska. Montgomery County Maryland in Baltimore city you take go to the states that those are. Maryland second in terms of number of people. Earning more than a 150000 year Massachusetts. Third. Alaska a New York ninth like you do there's a pretty strong correlation here. You wanna have Smart students that you do here. You do makes a big difference they're big vote in Maine yesterday a referendum as are leads to Medicaid expansion governor of the page not happy with this. No and this this referendum passing significantly. To allow for the Medicaid expansion in the state of Maine. It is going to now be the 32 state that ends up. With this Medicaid expansion here. And effectively it'll affect about 70000 people. In the state of Maine who would gain health coverage through this Medicaid expansion here and so. Was passed pretty resoundingly I have to imagine that governor a page on his way out the door isn't going to do a whole lot to while allow this to go through at least in the interim. But I have to imagine once he is out of office this will not take full back. Quote kid he vetoed that sees vetoed previous attempts at but I'm not sure he can mean I don't think he can veto this truck because it went Tora for an. Apparently has to enact it. What I have heard is that he can at least delay the implementation. And he said this morning that he would not moved to expand Medicaid in the state. On until lawmakers find a way to pay for so he would. He appears to be Stonewall at this point I don't know what I don't know how the main constitution is drawn up I couldn't tell you what the resolution is. But I can tell you he is said. That he is not going to expand Medicaid until. There offsets to pay form. What's oil doing today. Oil right now of the west Texas intermediate is at 5672. Brent crude 6338. Thought a lot of people like I don't know what you but I got a number of emails and yet to text messages yesterday. Ask me first of all why I was happy about higher oil prices and I'm happy and sad about the I'll tell you. From one point I'm overweight energy stocks. I'm. And I know you just heard Sam overweight yes I'm overweight but I old. All of a lot of energy stocks total lot of BP you know a lot of ExxonMobil and children not only in my counts but it might client accounts. So when will prices go what my clients make more money that makes me happy. But on the converse side I keep my whole with the oil. Right so and get my oil delivery are not going to be happy about pac is going to be pro three bucks a gallon and when I go to buy gasoline which is about every ninety days or so. And be paid more for my gasoline. So people want to know why would what is going on in Saudi Arabia that is sending prices higher. The big thing that you saw is that there was a crackdown supposedly for reasons of corruption or anti corruption crackdown. By the crown prince Mohamed bin Sul Mon who is 32 years old and heir to the throw. And effectively. He. Arrested and is likely going to be trying a number of these other members of the royal family or close associates of the royal family. In an attempted appears to be something as some kind of attempt to consolidate power and fend off challengers with in the Saudi royal families of the concern. Is largely hate is this at some instability. In the region and if it does either through military conflict or simply inability to produce the amount of oil they've been producing to this point. Does that have an impact on supply and demand from an oil perspective. Well and I will remind you chuck and I'll remind all our listeners. That Saudi Arabia will stop at nothing. To get to that sixty dollar price and they attract fresh frankly that party got there you said the it's W it's trading at what to. 63 ducks are yet of recruits at 63 right now. And you know IKI tele it's gonna stay there and go higher between now and their IPO do we have a date for their IPO and we've been nude. And no president trump was trying to get them to list on the nice do we do we know where they're going. We don't at this point it's it's expected to be next year. We don't know what the primary listing exchange going to be. We don't know exactly what the float is going to be how many shares they're going to actually put up on the exchange. So a lot of questions at this point. This this raises some if you're trying to invest in that company. It in you really raises some questions about. Where your putting your money and how stable the situation is going to be going forward. Because if you're investor remember at the end of the day what you were concerned with as an investor. Is getting your money back and getting profits OK if you went up in a situation. Where Saudi Arabia. I think there will be a lot of people that will buy the stock on moral grounds while I think he's in the bitterness of the big investors don't care about anything morally and like who look at look at the stocks that that's true we see float around out there I mean like we talk Reynolds in stocks and everything. No one has problems by in the you know the the big investors don't care they're looking to make money. Pay up next we will be joined by a successful business so he's appeared on shark tank. His name is Michael Burke talked he's the founder and CEO of GE so orbital. That is next from the financial exchange radio network. Markets continue to fluctuate but we've got you covered get your daily update on what's hot and what's not from Mike Armstrong every morning at 1030 only 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 correction I want you 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. Ticket necessary steps to protect your interest regardless of market performance call my office right now going 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 members Jenrette SAP C 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 -- 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 in all six New England states and opposites throughout the region making it easy and convenient to set up meetings if you're interested please contact us through our website Armstrong advisory group dot com or call 803934001. Our advisors have over 100 years of combined experience in the financial services industry call us today at 803934001. Or visit us online at Armstrong advisory group dot com securities offered to securities America incorporated member of an SIPC and advisory service is offered for securities America advisors incorporated burials are represented their arms or advisory group -- securities America companies are. Unaffiliated hi this is very Armstrong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out -- bank is offering in -- savings account providing free online banking with a one point 15%. Annual percentage -- this is an online product only and there's no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice that don't delay -- -- to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new. 15%. Annual percentage -- and no minimum balance and remember this product is only available -- -- so logon to leader bank dot com right now its -- bank dot com -- -- a step ahead. The financial exchanges live on FaceBook and YouTube watch Barry and chuck discuss the issues of the day and see which one smiles the most. Is it financial exchange radio network. Every Wednesday on the financial exchange or try to have businesses on the talk about their business today is no different. We're joined by Michael Chertoff is the founder and CEO of GO orbital. And Michael thanks coming on today and they found him Michael can you talk a little bit about what GO orbital is of what did your web sailor has something to do with electric bicycles. What is it. What's the other and really different this is an electric bicycle percent. So what it is electric wields a very different technologies that will mobilize a RC TO came from SpaceX to make it's it's very very futuristic looking thing. You put this week on any bicycle and make you bicycles vehicle maker and Evelyn. So you take office at the front wheel the back we'll just the growth question so it's it's the wheel and you can install this on any bicycle in the world pretty much yeah. And how long the process is it to take this and actually get this we will be installed on Dubai while you account opening the box that's about Tuman. I don't know like Angela that box there's a lot of type on tape there the Atticus is that I absolutely don't Rohrabacher so this is your prima sank 81 confuse anyone can do it no tools and takes under sixty seconds installed no app required. And it's super super street let's go back to the beginning. The idea to Jews so few years ago. The company about three years ago so really funny stories so as running a different company time. And I was watching an industry completely different Oca completely different nose running human resources software company. And you may elect buck you know like that it that it applies. But now and so about four years ago as those and you know I was watching from the new on the 2000 yelled yeah. And they got these motor cycles and there and they got the hollow as the column light cycles. I was looking at that those thinking. Really quality and vote and I'll make it practical example all sorts of components and hollow way it's been a and that was really the motivation I mean I have no engineer back the only thing I know how to do is start businesses who engineering on this for you as there's an engineer from SpaceX that I showed real early prototype I mean doing he said this is Austin at least they make that instant win do you start developing the prototypes actually it was shortly after that a few years ago. Yeah I was immediately so I actually left Malaysia. And sort of building in my kitchen with no Melbourne and then the day after I filed the first provisional application Emmett Dakota would be Emerson TO. Went up leading SpaceX in Edmonton and he's natural and man genius behind all things that he but the whole thing together. I'd muted you know to different conventional product and to get me here so company so. Yeah obviously took it up to that stage recent OK we've got our prototype what came next worried that you go straight in the commercial sales hajj try to move the company along. There's a lot of hurdles to start up I mean I would choose which was as it as easy as making apartments selling. There's a lot of steps I mean everything from getting mine from potential investors feeling that the market positioning. At the features so as we build in the prototype are also feeling now is there a place for. Novel were started four years ago electric bikes or a virtual unknown in the I mean they'll look over in Europe and bigger but much larger now than or four years ago I would definitely riding a wave awareness what is in electric bicycle is I know people hear the term tossed around an awful lot and you're right that they're not only in the US right now can you talk a little bit about what it is to the note here. And so and we do have the luxury of having cars and wide open spaces and but we are catching up so we're catching up to Europe over catch up along the urban congested areas that are very problem everywhere nowadays. So getting around cities is really tough when it's getting much much tougher than any easier so we knew of then a lot of major what they do lose the use bicycles. And as being the 21 century. Not everybody wants that exercise and everybody wants to peddle. I'm bicycles are not seen as a form of exercise as there are a lot of time here they're seen as a motor transportation chore. So imagine having a car Leo right it doesn't ultimately makes cents up. What was happening now all over the world bicycles are having an electric components something that'll help the bicycle move along with your penalty or even to replace them so how does this work actually take this wheelock installed just put it up to the wheel and then. It is what would you do. Yeah that's that's it that's elated after a pro rumors that generally quick release. An Afro whales to put on early and how how does it powers the the wheel than it has in motor and a battery and a whole whole bunch of smarts and sensors and electronics inside the wield that you ought to worry about. I'm and so for all of that it it moves it's what's the the Mac speeded this yup although putting all that are. And how long battery lasted five feet ten mile commute to and from work and government both ways that recharging it I mean it actually does regenerate if you panel that bug. I mean if you charge at at war which is will recommend is you know your doctor about then do something in the way I can be used in the ranges between 1520 miles without pedaling for larger there was no paddling at all with with me just sit there on the just kind of hanging out exactly 1520 miles we of people that one but if you go full speed up a bill known depending on conditions. Now do you have these are these available for purchase right now. Absolutely patent dispute while up on what do you have the different sizes depending on different bikes and so forth out of work I'm not a huge bikers at this point. So one the bytes of an offer responders and the only thing pretty much that has stabilized about them is the size of the wheels which is very reluctant for a though. There's two sizes there's point six inch and was almost a hundred C your 28 and will. Between those two Leo we offer the most Eisen and that pretty much about 9% of all of these only four. You know an -- road tires these off ruling what what kind of tire size they that is ours nose so the primary one we cells in their own before rose it's actually much more efficient as far as much radio for the battery. Easier to install more compatible so there's advantages. But we are releasing any wider Taiwan as well and that's for an off roll our fleet use so police department for example use our wondered. One of the things about your company you went on the show shark tank we died in order Chu Lai help you know get investors into the company and so forth and it was probably a whole bunch that you can't talk about because non disclosure rules and so were. But he tells about the experience in general. So I can say that it was an amazing amazing experience. So this this is actually my fourth company. And I've found and one. Now we I've gone I've raised money and you'd you'd like to sit around and do nothing I wish I that's a at at the I've been trying to get into their against reliance. It's that cut and so this is so this is the fourth company F and and raised money in every possibly imagine of raise money from venture capital funds from Angel investors. Now we this we feel like we were raised one point 26 million and kick starter before chart. So everything from crowd funding. Two traditional investment right now whether we raised over 750000. With equity fund as well as a completely new welcoming hand. So. Have a lot of experience and fundraising. Goal into shark tank was a very unique experience whose views. You know sometimes. You just stand there and your on by the situation with the feel like right now I feel like an awesome radiation. And when you're there you feel like you las NT show. And it just you feel you feel that he you. Right everything from the lights to everybody working round to the experience in his online and it's the first I felt that and combining that with a stress. Making a pitch to very high profile investors appeared. Maker of greater companies that that's that's what I feel and I gotta like we've got about twenty seconds here if someone wants to either buy your wheels learn more about your company were ago. Does go to our website GE OO dot com GE O dot com that's right. Outstanding on Michael we really appreciate the time today and the book is to continue to grow our I thank you that is Michael Burke told he is the founder and CEO of GO orbital. Making electric bike wheels makes her head over to GE OO dot com if you want to check them out. We're gonna take a break and then we come back. The story about these seven ties and ever mansion known in how they can get how you can get him in just nineteen dollars right here on the financial exchange radio net. The financial exchanges alive on FaceBook so make sure like your page and watched 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 empire gold locally it just makes sense. Did leader baker Colin 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 in May go down in value leader bank. A step ahead 2017 has been a banner year for stocks but man near fort 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 -- 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 the necessary steps to protect your interest regardless of market perform -- 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 -- 803934001. We can download -- right now and Armstrong advisory group dot. Tom securities are for the securities America incorporated members and SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated and he spent the last thirty or forty years building your financial planning business. He worked hard and your clients rely on your. But what about when you retire you have a team of dedicated professionals who will care for your clients in the same fashion as you do. Every dot about a succession plan for your clients our firm the Armstrong advisory group is a regional firm based in Massachusetts and we are looking to build our business through acquisition. 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This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks take hassle out of -- today with zero leader banks all mine rent collection tool zero automatically deducts tendons went and deposited into your account visit WWW dogs he ran dot net to learn more would you rent your payments for each unit received regularly on the same day every month tenants pay nothing in the first six months or three coral landlords visit WWW dug see rent dot meant to learn more or call 7816 or 18691. Hi everybody it's very Armstrong in potluck ski from the law firm Cushing in dole and were talking today. About the state and asset protection strategies. That can help reduce or eliminate your state taxes. Todd is it true that a married couple living in new wing and with two million dollars and assets pays a voluntary. Gift tax. A 100000. Dollars of the government at 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'll be in any state. But a lot of people say oh we 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 pods 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. Toll free 866. 8485699. Markets are odd. 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 Mike Armstrong. Mornings at 1030 only on the financial exchange radio network. You know I don't know where you buy. Your suits. I used to buy my suits as soon as they went out of business and and I went to Joseph A bank Vega ought to. That was the last place I think if Watson actually there's a local guy in tow line. But couple recently it. You know at the end of buying the suit. He knew me by some sure TCU so OK now I need. Some ties and you you go in you start looking at that price of the ties talker and you know like. 495969. Dollars for a tie you always feel utterly human as we elect them ripped off when combine tie for the suits his. Yeah I agree I mean that it what are they like in this sixty dollar range some like that maybe more in some cases for ties is like really. Well now there's a web city and go to and I was just on the site it's called the high bar dot com very environment that he. Aria okay you that you bought from a guy actually. But my tie in my grooms and ties on this website I did the same thing bear. No kidding that they have this you do Weis notices this isn't new this is another instance of meat discovering something. Years after its existence. A exit row clears yet I think it's been around maybe two years or so is only two years late. Hey it's better late than never that they say eight it's better than I usually use him like five years news that this. But it's a good deals in nineteen dollars I guess just scroll through the site what you bow tie what do you want to skinny tie at a time and there'll there'll nineteen bucks that's good selection to. And in the quality of the qualities good it's not great OK but it's it's still very good quality ties. You know I I've worn them before a few of amino maybe eight or ten times in new nowhere in Tehran and so they can we cannot let up pretty well. Victory is at nineteen dollars. When you spilled gravy on it you thrown out during. Yeah I mean I've always I generally ID in bush here's the thing it's not so much the spill but sometimes get ready when you Wear MacBooks and you know threads start to pull out and things like that in the start to fall part. And these tend to hold a decently on those kinds of things so I I've been pretty impressed since I started using a couple years ago. Well I just today I threw out a few times listening to them and stock up on government try to use this of both tried it's the tide barred dot com and you both tried it you don't like. Apple got the the other thing it's nice is with a lot of the ties they have. You can also choose the width of the Thai and so it'll it's you know you can if you're into that kind of skinny tie thing like all the hamsters in Brooklyn you wanna go drink some craft beer you can do that. Or we say no give me the bat Tai and a Budweiser you good to go. As it's awful picture of a shop on nine Newbury Street and it's opened up recently so a lot of their death when growing. Oh I think it's I thought they were just on line to have physical stores just on Newberry street as far as I NC. Interest in. Anyway I've quick reminder next week next Tuesday to be exact. We will be broadcasting from Bertans bar and grill in Burlington. Massachusetts. Chuck and I will be there will do the show the financial exchanges going on the road to reduce the show for Bertans. Then we'll have a wonderful lunch if you ever been there at the food it is. Magnificent. Just leave it at that. Great food and then I'm gonna tell you some signs and so on and share my statistical analysis with you about. Some of the risks that I perceive in the stock. I think there's some evidence I notice it's that stocks are little bit over priced straight now. And it sure with Ned marquis threw my presentation. And you don't provide you with some food for thought and and hopefully the some real food to you'll enjoy. So if you wanted to join us next Tuesday at Bertans why it deduce culpable for you do need to reservation. We have a limited capacity for this room the phone number to reserve your spot at Burton's next Tuesday to less than a week from now is 800. 3934001. Are we talking about the stock market. We'll be talking about what you might want to do with your portfolio to take some of the risk off. 803934. Zeros or one. I'll share my analysis and opinions with you when you can do with them what you choose 803934. Zeros or one that's at Bertans. In Burlington Massachusetts next Tuesday. Eleven foods you think are healthy but are actually not healthy. I granola bars suddenly. I thought granola bars for good force you big and old are fanned a little part so with time and guess who exploit them. Granola healthy but unfortunately the bars often tend to have an awful lot of sugar and oil lighted and as well as chocolate sugar peanut butter yes European a bilateral with a whole lot of stuff that doesn't necessarily mean you down okay now and so it's not the kernel that makes you fat it's all the crap that in the made into a bar okay salt should. Here is what you say it is the sugar in the kernel bar there's more there. Then we'll take a while. Don't don't they brand themselves as being healthy and good for you hear me colonel pars are good for at that sort of we have LC said that cigarettes at the filter wouldn't you know killing about. You can't leave everything that they say. How about plain yogurt. Plain yogurt is not good for Kim behind sugar. Now a Lotta Lotta sugar in there. And so. Unless you are pretty much eating the other plane Greek yogurt you can have an awful lot of sugar that ends up in traditionally. Turkey and vegetable wrapped that would seem like a fairly healthy yeah that's what surprised me a little bit and I think this might be a little anti car broke afternoon. It pretty much says look the wraps you know pretty big actually you might beating more cards than you think you do appear reading it now again it but you know I think he. It's it's all about balance out of anything hugely wrong you know on on this front with this one. Some of the stuff in here do it just doesn't make sense like. Smoothies at to make it all fruits too much harder. Again but but it would like I've meat fruits movies. Had a strawberries. Place. Lemon coconut milk maybe throw some banana in the Mena house I was about it it's it's the bottle ones. Well the ones that are pre bodily Havel the extra sugar added an old stuff I mean if you're making a from scratch period that's that's fine yeah it'll all all the ones he CA your local grocery story usually added sugar for the most part. About spinach potato chip sunscreen. Ever even heard of that Paula Patton really. And I thought if they agreed to get a report. That that's that that's a dozen after it not there when you bait the big vegetable vegetables like that apparently takes a lot of the nutrients out. Colorful Ashley Cole could fill with fruit in coconut is that how you say that word I've never know what it's a tie. I thought it was acai not to Qaeda here's one here's one it's a close enough look like frozen veggie burgers if you eat something taste that bad. Issue that at least be good for them and acknowledged that murders yeah yeah I don't know Tucker Wikipedia says it's acai. Acai acai. I've heard of tie we should make this our poll what if tomorrow we Croatian pat how do you look at how do you pronounce. AC AI because we don't know. With us this act gluten free everything's gluten free overdose and now it's one of the worst trend that's happened in America who last million years don't you don't get. It but it doesn't just because quote freed his means it. No first of all there's like a small selection it's like 2% of the population needs gluten free foods and so everyone is like. Oh gluten is bad for me act any gluten it's like no it has no effect on nine ye percent of the human population nearly. Evil that. Really need to look out for gluten free products are the ones with Syria next disease to actually get physically ill right now. From eating glue right and you know like all trying to cut down on gluten has been out it's like it doesn't work like that. How about this dried raisins plums apricots bananas that's another thing that taste terrible should be good for you it takes. A apparently I guess they can now spike your blood sugar a little bit. And and so while because of all the sugar in them I I don't need a whole lot of Dreifort it's never been my thing like kind of like the real thing before it's all dried and you know try. And I think we knew that sports drinks from that portrait yet if you if you're not actually like in the middle of playing a sport. Those tend to be pretty bad for you just because. They're loaded with sugar and we're kind of balance the electric lights and so forth and so you just end up drinking a whole bunch of sugar and not burning and died in something called like vitamin water like that's added sugar too yeah I've if you sit around your catch 105 power today. Not good market he either not good no no it's bad it's it's it's pretty much almost like drinking soda or. And I seen this notice that target is closing it doesn't underperforming stores across the country but did and they're closing these twelve stores that are spread across the states of Michigan and Florida Illinois and Texas. Negate going to be closing on enough February 3 of next year's about three months from now. And they're continuing to expand their line of some of their smaller format stores but some of these that are close. You seen any of those that you've been in one of the smallest I was in us in Chicago I was in one of the small wal mart's. And it was terrific I see you don't. All Utley good of the many wal mart's. You know primary is in downtown Chicago. For groceries Oka a B that's saves people a lot of money it was news and it was it a decent area. And I wonder target I've not been in one of these many targets elected ideas. No I haven't been in one of them either and I think this is the direction that business is gonna be going because they don't need to square footage that they did previously and especially in urban areas you're not gonna find that kind square footage you know you don't wanna pay for all so great. I think the smaller stores are good move for them you know a dozen stores. It's it's that it's a drop in the bucket target they've got 18100 stores so it's less than 1% of their overall stores. But if your shareholder become owed this to say. Well good it's it's a small change but at least they're kind of you know keeping on top of things in recognizing when what they're doing isn't working and Summers are they doing with the Amazon. They the I know everybody's losing something ends on. But are they losing more than normal errors you know it is certainly do better than Jamaica seers so I know I think their last guidance the issue was in July or somewhere in that ballpark. And I believe that their same store sales were starting to stabilize finally. I don't know they're showing a whole lot of growth there but I think they've released stabilizing kind of stem some of the bleeding. They coming up we're going to be talking about energy drinks with Aron Broadwind from the business insider magazine that is next from the financial exchange radio network. 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Advisory group dot com securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. 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 when he one point 15%. 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This segment of the financial exchanges brought to your part by Interbank. It's not too late to get a great rate on a whole mortgage and leader bank has some of the most competitive rates around. Call 8776917900. Or as a leader bank dot com for more information. We're joined now by Erin Broadwind from a business insider here who talked about. What is being called these super human fuel energy drink it Aaron thanks for coming on the us. I earn my first question is this the drink that is mentioned in years called HBM and he toned. What he's around. You really we were making it all laid. The so that's pronounced human OK so what what is this. And yet there's human I called human talent and act I want you weren't a lot of articles debunking. Oppose her abilities and bury a couple of include especially like. Labeled energy drink I'm I was initially very relevant product and actually. Right now in that water there at all and another interests behind it and I'm in meant that. It pretty well development it bill I think oh wait wait around saying it I'd take off and Torre. But what it is is that that people of the body that not. And sugar. Car worked back so if you've been able to for there aren't. They're a routine your car and there are other 120 calorie. But how I come in and all all the words what we have not yet or anywhere. Called eat out and Dwayne Allen work is when your star bank. The bodies pretty. People think that there could be an absolute. And there. I think we lost Aron briefly. Try to get her back on the line and no it gives its effectively what these are and it's it's kind of weird as as we are talk about. They're not bats there or not. Cards they're not anything along those lines and up proteins mum but they are this what they're calling this force type of macro nutrient that apparently. Provides you this real boost without giving you kind of that caffeine feel or anything like that and also without you know bumpy sugar. Yeah I'm without the sugars that they are current iPad that sells the pit out. He never heard that it's apparently it's what happens as you start to break down fat. In your body it's one of those by products I guess and it apparently this research was started with though a lot of funding from corpus are coming from the Defense Department. For soldiers exactly so the thought was to try to give something that they could take onto the battlefield in order to stay alert and and still be. Active and so forth I think we have Aaron back on the line now Erik can hear me. How are you there are about outstanding no pain no problem and also vote. So he has to act that when when our back you'll. And then when the body or dig into the back or certainly could be on their own talent. And it was going to hear it now. How does that make you feel actually have you tried these. A man. It was not a life period in terms that I definitely act and polite. One thing on and number next to your alcohol. And shot some pretty much the worst imaginable. As well. You're. I was actually. It really. That afterward in. We adequately monitor and it monitor her anger. And we found that my outlook will be. China. Economic outlook and I and number that I wrote I could be. Angry at one point in. And then. And then I am Ali. When you put it. In my uncle Mo. Eat Mac. And I. Don't. I actually. Now look. Call it. Like it definitely. Easier. On the war. A little more call. A lot. And then I can't I can't. Or if I ever yoga. He they do pretty regularly. In and I actually didn't you step off polite. We are required. She majored performing in weird you will be held on Saturday on it that you are able. Are there Alco. And irony there but I probably or may not matter who like me eat me eat. You know running. Arguing that are at war out there and couldn't measure our howl and I'm definitely much I don't know. How much it's going to walk cost and when is it on the market. She. Are all right now and it only elite class order yeah. I. So it's it's shipping in December 80s at three bottles or 99 dollars. Or bottle companies could. Equivalent of about shot. OK so these are not good for stocking stuffer is for the upcoming you know that's the seat okay well. Very good well Aaron thanks for joining us we appreciate the the and say on this and you know thank you coming on absolutely. That is Erin brought went for business insider talking about. Keep tones which apparently it's you get three for 99 dollars Barrett's bargain. That's more than Viagra. If that's the tigers fifteen bucks don't at least cheek is what does this stuff do for you turn into Superman that's that load that the picture on the title of the articles Captain America zero eastern district in a Viagra Opel and thought. But is the front of violent over. It is the please call doctor within our outlook for the security needed doc you need a lot of that bu I I I picture's gonna say like it's two bucks are definitely. You know good thirty dollars a drink. But I'd say that's an appeal little bit away from prime time hey guys thanks for tuning into the financial exchange instructs not a talker so look. And meet very Armstrong. Financial exchange rated.