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Full Show 11-16-17

Nov 16, 2017|

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This is the financial exchange with the very Armstrong and chunks of you're exclusive look at business and financial news affecting your day you're simply 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. Tax reform getting through the US senate could prove to be an insurmountable. Hurdle. Senator Ron Johnson a Republican from Wisconsin. Said yesterday that he opposes the senate Republican tax package becoming the first but probably not the last Republican senator. To voice dissent and if that dean's momentum that could force significant changes or jeopardize the party's goal. To pass the bill before the end of the year everybody it's Berrian chart with you here. It's a Thursday morning we somewhat anticipated that there would be some dissent within the Republican senator but we did not think it would be coming from Wisconsin. No Ron Johnson coming out and saying look I don't like the fact that this plan. He's going to give corporations bigger benefits and L Cesar partnerships. We need to do more in order try to help small business is not just the big ones. And I think that you know when we talk about one of the main new goals of a tax reform. It's to create a more unified framework and something where you don't go through this financial engineering of oh re a corporation or or should we be an LLC and just because of your tax benefits but hey. We're set up this way because that's the kind of business we are and that's why we decided to run ourselves this one you know so like I tend to agree with Johnson that look what we have here is an opportunity. To say look we're not gonna treat people differently because they set up as this or that we want to treat people the same and get rid of some of these loopholes and I think that's what he's trying to say. Well and I think the other senators that you have to be concerned about if you're trying to get this bill through. Would be Jeff flake from Arizona who is not running for office again. Lisa Murkowski is going to be a big question Susan Collins I'm not sure she would vote for this because of the health care mandate issue and John McCain. Well that Disney beginning to I wonder about some of the deficit hawks now you know some of the robredo Paul is Rand Paul says previous this Ted Cruz you Bob corkum came out and look I don't wanna add to deficit. You know he hasn't gone on and said I'm not voting for it but the he's also not running for profit he's not running for office and so remember. Republicans get to defections okay that's who they're able to get at this point still push a bill through in the sense so. If you have one or two of Johnson comes out and then all of a sudden corpus as AM I'm not onboard. OK you can still get something through. But here's the thing even if you get this initial bill through. We've got to go to conference committee you've got to get a conference bill through with the house the compromises all of the differences and come in and you have to get that built. So it's gonna get through the house this week correct today it looks like it appears that they have the votes in the house to pass the house bill right now. The house bill would not pass the senate now that's this afternoon right it's supposed to be this afternoon yes I I would anticipated that vote should be happening this afternoon probably going to be close nearly 218 votes to pass my guess you probably get two point one to 24 something like Nazi past by 36 votes. And then you're gonna need to get senate bill when he got to go to conference so its. Still trying to get it done by the end of the year though they say with the house is hoping is that the senate will vote on this the week after Thanksgiving. Yeah that that that's what they're looking for is that again you've got to go to conference and you have to get a unified bill through any yet Democrats can vote for this. I can count on no hands the number of Democrats who are likely to vote for there has been thoughts that Democrat from North Dakota. Joseph mansion. News thought that he might go forward now not leaving it could see some I just I find it hard to believe I mean Democrats have pretty much said we're not giving you any help that there may be a straight voted to win in certain areas but I can't match there's going to be one. It was very gulp that's where we stand as a relates to tax reform Tucker Silva. How many miles will you be driving for Thanksgiving where you flying somewhere driving at say probably. Ten miles fifteen not you don't count then come when you trucks out how many miles we've been driving her traveling for busy flying about 080900. Miles or your flight and they go to C imam Augusta Monday down and on North Carolina you count. Thanksgiving travel this year will jump to the highest level since 2005. Boosted by a stronger economy. Even though gas prices a little bit high. Fifty point nine million Americans are gonna be traveling fifty miles or more from home during the November 22 21 November 2 point six holiday period this is the ninth consecutive increase so pretty much every year since the bottom of the financial crisis we have seen an increase. And the expected jump is 3.3 percent over a year earlier. Air travel is going to be rising by 5% to nearly four million people traveling by air so expect a lot. Of traffic either on the roads or had their security of the air. Nausea me much fun our poll question today is. Will you be traveling more than fifty miles. For Thanksgiving this year. And I think it's pretty close so far. Oh no it's actually only 25%. Traveling. Fifty miles or more for Thanksgiving this year you participate in the poll by going to financial exchange showed dot com. I will be traveling much more than fifty miles to Phoenix every year. Thanksgiving dinner this year including Turkey plus all the training balls to the lowest cost that it has been in the last five years. Yet according to the American Farm Bureau Federation which that it knows a thing. The no that was a thing the American Farm Bureau Federation. I was that it is where to dairy farmers of America fall in this or what do you know there are they inside of that is this subgroup I don't know but ate Thanksgiving Day meal for ten people. Is going to cost one point one point 5% less than last year an average of 49 dollars and twelve cents okay. And be its biggest single decline this year. Turkey okay Turkey is down 36 cents to an average of twenty to 38. For a sixteen pound Turkey okay that's what they're basing this off of and in addition to that they also include sweet potatoes rolls green peas and pie shells and in new building in their calculations here. And no mention of alcohol. That's a really good dinner that's kind of the old days nobody that's got your hosting. If you're hosting your budget a fairly large amount for beer wine there's no doubt about it while I remember when Blake I was in college and I'm my cousins were you know just out of college and nearly half Thanksgiving together. And just this sheer volume that we would go through you know we're 2223. Years old today yeah its times changed and. Business and Google writer is suing the company claiming it should not have hired a driver. Who allegedly raped her now they say allegedly but. He was charged with the rate. By drugs right. He he he was charged indeed. And this is going to be that this has always been I think one of the big concerns if you are an investor and Hoover is. It was the vetting process for our drivers because you have so many people who were applying to be drivers. And the background check process it differs from state to state yeah differs from country to country. They had a problem in India to earn. There's never had problems all over their problems in one in Boston that problems in the UK they have problems in Boston they've had problems all over with this is originally they were doing enough. I'm back where will this was what I was a little bit surprised by this rape occurred on November 11 2016. Which I thought was after the he'd crack down. It might have been that someone slip through the system or maybe a similar way to try and why he's already been driving for two years he's duty John could've been and and that's the problem is when you have millions of drivers worldwide mean. It's not like you're going through and you personally doing each background check it's a lot of highs as well I. I know you have to but the the problem is they automated a lot of those things I think in order to try to save on talk. She knew match in the cost associated with this forget the legal fees that could cost a mean look like you you've got to keep your writers say for him that is the settlement costs on this. Will be in it this'll be a seven figure subtle yet you you you can't go hiring rapists Mikey you just can't do what. They're have a tough time I think hiring drivers going for because you know there. Yeah I think we determine we actually have a story later rate we we got some information from a driver did he shared with us his weekly the earnings and woo woo yeah we're gonna dig into it would dig into a bit. These drivers for who are not make any good wage. And then you have companies like electric bolt in Connecticut who are looking for apprentices at 21 dollars an hour right so Heidi. But how do you. Recruit to Hoover that. What twelve dollars an hour native and when you get everything out here probably ten to thirteen dollars now killing your car. Right you know at wing when you can go get an apprenticeship that it with the union job he start off the that we we've we've got the story for the second hour of electric boat is hired people at 21 dollars an hour and they will train them and then by the time we done the apprenticeship program here at thirty bucks and and. Those are jobs that are. Relatively safe in the long term you look at the the ability they play action 1520 years of runway out there in terms of both production you have to finish it gee we've got all these submarines and all these things that we've got to put you know get out to see you've got again a fifteen to twenty year runway where you sit there and say. We're pretty good shape and by the way. You get to work on like nuclear submarine it's like it's cool stuff you're not sit in their building doghouse you're going out you're working on you know some of the cutting edge technology and our country. Up next are we talking about nuclear power is their future for nuclear power now. Half a dozen nuclear reactors have been shut down recently but will be joined by Richard Powell from the clear path foundation. He's gonna explain to us why a nuclear power as a bright future that is next from the financial exchange radio network. Even without health care or tax reform all three major indices remain near record highs get the latest info on the sectors that are winning and those that aren't. Break here we Berrian jog on the financial exchange radio network. The state claiming can have many benefits especially if it's done early this extremely important to protect your assets that you worked so hard to attain. But I bet you didn't know that if you do your claiming the right way you might also be able to eliminate estate taxes sound too good to be true it's not Todd let's do a partner with the law firm of Cushing and Dolan is an expert an elder love and has been helping families with elderly claiming for more than thirty years he's written a new guy that's out this month called asset protection strategies and it to learn how to protect your assets to them in your bloodline avoid probate and increase your beneficiaries inheritance while reducing and in some cases eliminating your estate taxes let's do leads an experienced team at -- in -- which has been helping families like yours that there -- state planning and he can help you to call right now to get -- new -- called asset protection strategies at 8668485699. That's 8668485699. Or you can download the -- break now from our website legal exchange showed dot com that's legal exchange showed dot com. 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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 dot com and search for the station closest to you this is the financial exchange radio network. Does nuclear power have a robust future in the United States to good question we're joined by rich Powell. From the clear pal path foundation to talk about why it does have they were bused. Future in the United States rich welcome to the program. Thanks rapid rate were glad to right now we produce what about 20% of our electricity nationally from nuclear power. That's correct although a lot of those reactors are under threat. Up to. Of those reactors could well shut down the bottom in the next ten to fifteen years so much to make major changes to the market. McCain we've had six shut down already cracked recently. That's correct that's correct what what is the position of the trump administration. As a relates to nuclear power. The administration and the rest of her career on nuclear they've really re committed to the industry into the technology. I think they realize it's vital for the US to maintain a world leading nuclear fleet also gonna have a world leading. Nuclear weapons capability nuclear navy capability. And ability tells C nuclear technology to power threat to world. So they've announced plans to make changes to the labor market compensate nuclear reactors. And they've recommitted to the new reactors that are being built right now torture. And they're launching a comprehensive review of US nuclear policy that hopefully will result and gone to support the industry. A rich we own is as a firm we own some utility companies. And whenever we read during annual reports they refer to the opening of natural gas plants because it's plentiful. They can open it they can license and permit a plant in five years they've got a cost containment. What why go nuclear. When natural gas is so readily available. That's right natural gas is a terrific technology and we have an estimate in abundance. That virtually unlimited supply in the United States right now. I think there are two main reasons we want to keep our existing nuclear fleet and ideally expanded. The first one is that. It was a good investment we should never have all our eggs in one basket. Natural gas looks to be extremely but of course extremely cheap right now but it also historically been the source with the most price volatility. So putting all our eggs in the basket gas which is. Essentially that we were headed right now. He used to get risky long term proposition for the power sector the election district court announced yesterday by the national electric reliability. That connection that showed that if the word terrorist attacks for example in just a couple. Natural gas pipeline large numbers in Africa are that could go down in the meantime until it's good to have. I just spoke resilience of our great it could have. More. More options out there and second one natural that get to the Clinton. For power source and Cole which is what larger replacing it nobody. Clean power source that little bit like carbon and other pollutants where it's nuclear review the Eurovision power source to produce theory series small amount of nuclear waste which is pretty bleak. Able to and produce is no air pollution so as we need to. As a country gradually moved to a 100% clean power supply. Natural gas isn't there yet that's our technology that are being developed. I want to make natural get a 100% clean but those aren't yet ready for prime time I nuclear is only there. Rich could talk a little bit about the handling of nuclear waste because that is one of the big questions that you know most people who oppose it tend to raise and they point to. The lack of obviously ABS centralized facility which we've talked about you can mound for a number of years. What what exactly is the plan to deal with nuclear waste at this point. We could not remain the plan so the previous administration in under pressure from senator Reid from Nevada. I did not want the Yucca Mountain project be completed and so did everything they could discern gum up the works at bat. Particular project the new administration has really reached admitted. Yucca and we also have. Theory bipartisan legislation in congress loses to Democrat Republican issue this is just a contentious issue that we need a permanent. Waste depository site are a lot the state. That would like either way and moved out where it's been sort of very say we I'll add that they're equipped airplanes and they want it moved to the permanent repository. That looks like jackets on the back on the. Is there anything being done to reduce the cost of nuclear power is again going back to these publicly traded companies. They'll tell you. We're not going nuclear because we don't know at a cost we EU EU EUR is well aware as I am about the nuclear plants. That'd been closed midstream after billions of dollars have been invested in the. Yeah absolutely so those sort of two different. Put to you being explored sometimes at the same time first. There's a possible plant in terms of per unit of energy and then there's the cost Ole much. And so even if you bring the cost per unit of energy down if adjectives delay. You know ten billion dollar project because you have to do this idea it reactor. Not really what our power system needs them. I am. We really are growing. The demand for electricity in this country we've been pretty stagnant and so when you do need to build power plant. Usually it's sort of a smaller lighter that the billions for very specific other plant that's been required sort of more than 300 megawatt side so a lot of folks are focused on small modular reactor since they're getting things that are more bite size it. That would be against it. Mega projects like that and trying to build a line in Georgia. And that other folks are very focused and really bring down that cost per unit of electricity and that's probably gonna require some. Radically new designs. For both out that nuclear power generate anarchy. In how old and has built you know we it'd be could be massive project tumble play infrastructure by building issued career major title. But instead it was something that could be really big captured site and then put in place which would bolt it together. He wore the industry you can go very quickly very cheaply it's a lot of folks are focused on. Rich we don't hear much about researcher entrepreneurs involved in nuclear power is there much venture capital money going in that direction. You hit it interestingly in the last five years there's been a resurgence both in the entrepreneur worst Indian money flowing into the states. We have a number of companies. There's some actually headquartered in Boston Cambridge and the current atomic. A lot of folks are coming out of the key nuclear engineering program content companies there's another MIT that is founded optical oak low which is based in the Bay Area. That's received a lot of venture funding that focus on micro. So little things sort of steel two megawatt would be able sort helicopter into remote village of mine and something that should. And then the biggest money that's gone into space this problem. Some of the weekly big West Coast tech entrepreneur or so virtually every one of those books has some nuclear fusion. Bill Gates as a major investment company called air power. Paul Allen the other Microsoft under a major investment in company called. Try. Peter you'll also an investment in atomic. I am the one and headquartered in Cambridge. Just but he says it invested into an infusion. Still a number of these folks all have different place them in there that quite a bit of that. Sort of long term Haitian capital moving. Thank you very much for your timer to a per share. Thank you that's rich Powell from clear path foundation joining us for conversation regarding nuclear power and you know chuck I been a long time since we built a nuclear power plant in the United States we've. Talked about other plants had been canceled midstream I mean needed been tremendous amount of money lost investing in nuclear power. Rich making though very poignant. Argument that it's not dad well Nolan and there's a case to be made our nuclear policy over the last couple decades has been one of the reasons why it's dried up and won the cost has become so prohibitively expensive the rest of the world still build them China yet. Now they when we come back or talk about. An ominous signal that says that stocks are about to decline that's next from the financial exchange radio network. Like there's something. Show breaking business news news hole. Right here on the financial exchange radio network. 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B 900 find out why many of greater Boston's premier property management and real estate companies choose leader bank as their banking partner call 8776917. To 900 or email -- BO at leader bank dot com for more information member FDIC equal housing lender. Time now for mostly watch a look at the market's performance so far today thanks to Darian jug right here on the financial exchange radio network. Well if you lost a little money yesterday chances are you're making it back today holy count the Dow is up a 165. Points led by. And very strong earnings report coming out of wall. Yeah Wal-Mart about 8% honest used in 9736. About seven dollars a share warmer have been one of the best performing stocks this year and up about 41% this year largely on the back some improving online sales. Overall you the last five years most of their growth as happened this year and how the stock price. Five years ago was in the set are low seventies. That's where was the beginning of this year but they may have started to turn the corner a little bit on line I'll be interest to see how things go Wednesday continue. Opted to can tinker around around the edges there 50% growth in online sales community they're killing it on line now the matter the question is. Is it too little too late day you know like I still. I Arab you but I don't go to Wal-Mart dot com or jet dot com very often and combines a new deal I've never been there. Never know netting jet now. And a little now. Knew we can break on your shelf I'd I don't have problems with the Amazon flake it's the problem is for them like they lost their chance Amazon works for me I have everything set up exactly now I wanna I wanna go. Yet when you're running zag. Knew Damien nuts you can save money went into in Japan and academia and more pistachio guy. Anyway. Technical indicators be the every now and then there are technical indicators that will say. She's the market is cheap and you should buy stocks in every now and then there's a technical indicator this day. Oh boy stocks are expensive and you should be selling them and I will tell you. I'm not a big technical you nor you you you tend to follow technical data much more than I do you have a more well Sam a big technical guy but I. You know Ali yeah I just put it this way folks he understands that whole heck of a lot better than I do anyway there's too. Signals that are flashing warning signals. For stock investor. Yeah and and more than anything else I love the name of these we have the Hindenburg omen and Titanic syndrome yes and about the current right now and I are very important I had Titanic since early last year and I just felt awful for weeks because Padilla they would do is not good. The Hindenburg omen now OK and this is the the technical definition of it. It occurs when I New York Stock Exchange new highs in new lows. Each exceed two point 8% of advances plus declines on the same day and what it I'd just say what that means win two point 8% of stocks. That are up or down the greater than that number up or down hit new all time highs in new all time lows Boca. That is that is the Hindenburg omen at least it shows that there is significant divergence in volatility in the market. Titanic syndrome. Is triggered win at New York Stock Exchange 52 week lows and out number 52 week highs. Within seven days an all time high inequities Matsui just hit an all time high on the S&P one minute ago six days ago okay. 52 week lows though. Are outnumbering 52 week highs. And so that means that you have more stocks that have moved lower this is the higher ones have moved significantly higher the moneys flow in all it's aimed at my very concentrated saying there's not a lot of breath in the market there's not a lot of depth there. In it's been the big names that have carried it forward. And why that's a problem now if a couple of those big names start to struggle the entire market than is dragged down. You know if it there are some of validity to courtesy you have to pay attention there's all of these indicators. If folks quick announcement on behalf of leader bank their sponsor of our program but there're also a terrific business banking lender. If you are running a business and an old lady maybe maybe it's. This time a year all the landscaper or start to think Jenny to buy equipment for next year I need to buy new trucks to get through the plows season. Well you might wanna give leader bank a call I don't care what kind of business you're running your medical practice technology firm a landscaper restaurant. Could be a barber if you need a business banking partner. Give leader bank. Some consideration their phone number is 8776917900. Or you can go to their website leader bank dot com. That's 8776917900. All I can assure you and I can only give you one guarantee. Leader bank wants you like guarantee leader bank would love to have you as a business banking client. They'll do a good job for you they've done a great job for me I can personally attest to that. And you know what it's worth the call 8776917900. To talk to a business banking partner at leader bank. The NFL. The National Football League has accused cowboys owner Jerry Jones of damaging. The leak. Conduct detrimental to the league is the exact language they used actually. And this was in a letter that was sent. From the NFL directly to Jerry Jones up now okay. And this continued both sides are pretty dug in on this right now I don't think so I think I think Jones now. Will back off he didn't yesterday he dug in even more the other Ezekiel Elliott last night accepted punishment right. Doesn't mean Jerry Jones well thank you George views this per lake. Jones is I don't know. I think he I think he says you know act and I think maybe Elliott said Jia you know this isn't right to the owner. I'm gonna take. Couldn't Elliott and yet and yelled this is gotten bigger than just the Eliot situations. Look I I the thing that IE in I know you guys don't like Jerry Jones what I like about Jerry Jones. And what I dislike about Robert Kraft is Robert Kraft through Tom Brady under the house. Jerry Jones stood by his player and it was the player who set all fall on the sword and call it this season. And I I admire that. I think you're being far too kind Jerry Jones you maybe look right look he's a controversial subject and I know. You he he was and not very kind to Tom Brady but the fact of the matter is jolt stood by his guy. Right he he east. The Joseph I didn't craft was his guy he's no Angel wrapped under the bus Jones stood by his player. Kraft did not. He handcrafted been pretty tight twenty years from now when there are all saying he's like Joseph they want the hall of fame Joseph was the one that was ridiculing crafts. And pushing craft as they dropped this you don't need to do this and now all of a sudden Jones is saying I'm gonna sue the league under. Jones has that the worst case of sour grapes that I've ever seen I'd rather play for Jerry Jones and now. I don't know on it yes I would do you know how did you I don't know rise and NFL team I know he would he'd stand by me when the chips are down. He didn't so there he is Bob Kraft Jerry not to stand behind Jerry Jones is on team Jerry best best player of all time and Bob Kraft thru Monday. I completely disagree we don't think he Durham under the party thrown one of the vials he he acquiesced he'd he'd be gave up the first round pick he paid the fine. He should this does he should've hung in there with Brady and he did you saying that he should have sued the league. He should of stayed with ray you're you're sadly the only missing could've done it through Italy absolutely. So he didn't stand the best player of all time he didn't stand so you don't see how Jerry Jones saying you have to get over it and you shouldn't be doing this in an Olsen going and doing the exact same is a little bit of the case sour grapes I don't deny that but at least east advice that he's acting like for you aren't. I can appreciate that. Speaking up for Urals the UCLA basketball player which is knuckle heads admit. To shoplifting in China and they thank Donald Trump for giving them out of China. I think Donald Trump and left them there from the two. I if I would never a year I if I'm Donald Trump I I I would if I would call 'cause he really interviewed right he he got about a jail. It appears Syria he had a talk with president G about it. I think he should call president she and said put these kids in a nasty prison. To the end of the season that the date would allow you to do is the date the UCLA. Team finishes their games like beef February great. Then you can let him but until then I want you to put him into the nastiest person you confront what. So that serve. Punishment leaving it there what they're out there by the team right now and applying all big punishment. Maybe they're ambassadors the US ambassador to China and shoplifting. I'd say romantic and until the season's over in putting in hard time don't have to be to try to steal Louis Vuitton stuff in China. No way to easily get knock offs later tonight we'll have a right like a first of all this steel and might not even be real right exactly what do you do it. It was embarrassing. If no easy these players mineral scholarship players there are all. There at the clinic UCL. It means a couple of the Republican and that in the NBA where you can buy all the Louis Vuitton stuff you want a year from conflict that no couple Lamar and decked. The guys who did this were top 100 crew Latino but might I still think I I I think Donald Trump should just left him in the hand until the season's over I I think that would have been terrific I wouldn't. Eight frankly I like I would've liked that better. Then. When they ended up happen if they had been Chinese if they did in American kids that we're playing for UCLA. They'd still be in jail. And they wouldn't be getting special treatment for which are right if the only guys if you guys had gone over there and you're twenty years old in your dumb enough to shoplift. So I'll tell you what Donald Trump would have been calling it out. Well no it certainly it would mean I I'm not worth helping any guy I play as well nobody figured it but that that's how I feel any. We'll move on from I think they should have been left and it mark hammer. From who okay. Took a dark turn and sauces so I feel mark camera from Bankrate dot com will join us next. To talk about did you get a pay your race. This year well if you didn't you know the only one by far that's next from the financial exchange rate and try. Administration hasn't passed any significant legislation yet but tax reform is front and center at the end here. Keep it here with Barry and chuck for the latest on the president's agenda and how the markets are reacting and this is the financial exchange radio network. Don't miss the party of the season it's the fifteenth annual Rodman celebration for kids and it takes place at the seaport world trade center on Saturday December 2 starting at 6 PM enjoyed tastings from seven via Boston's best chefs a blue men group performance silent and live auctions followed by dancing with the world premiere brand funds raised support Greater Boston organizations that work to brighten the lives of at risk kids during the holiday season for tickets and more information go to Rudman for kids dot org that's Rodman for kids dot org. This is a special announcement for a landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of rent today we're zero and leader banks all mine rent collection tool zero automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more we see rent your payments for each unit to receive regularly on the same day every month tenants pay nothing in the first six months or free for all landlords visit WWW dug see rent dot -- to learn more or call 7816418691. Are you financial advisor who lacks formal succession plan you're not alone according to investment news 43% of financial advisors are over the age 55 and many have no contractual agreement to care for their clients once they retire hi this is very are strong and we might be interested in buying your practice you work hard but now it's time to find a successor ER -- advisor is a regional firm and we are looking to grow our business through acquisition we will consider both RI AA and transactional oriented firms with a solid stable of young advisors who put your client's needs first and provide them with -- service and attention to which they've become accustomed if you're interested in talking with us please call me at 803934. Zeros or one that's 803934001. Or visit us online at Armstrong. Advisory group dot com securities are pretty securities America incorporated members in 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 everybody it's very Armstrong and. Potluck ski from the law firm Cushing in dole and we're talking today. About 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 England with two million dollars in assets pays a voluntary. Gift tax. A 100000. Dollars for the government at trusts in place I'd certainly can't be certainly depends on what state and to be 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. And you know like the federal exemption amount is 5490000. Dollars you can pass that amount. State tax free to anybody you want. In any state. But a lot of people say we'd 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 pods brand new guys it's called reducing and eliminating the state taxes. You can call and received guide the poll number 8668485699. Or visit his website at legal exchange showed dot com net. Legal exchange showed dot com or call tool free. 8668485699. Financial exchange for Barry and chuck is alive on FaceBook and YouTube every morning beginning at ten. This is the financial exchange radio network. We're getting towards the point of the year where most people start looking for either a bonus or are raised and joining us now to talk about expectations on that front. Is more camera from Bankrate dot com mark thanks for coming on. Mark how many what percentage of Americans earned a raised over the last year. Well before I gave you that direct answer let's put this in a little bit contacts and that is in many ways you know I think we can look. Out of crossed the economic and they're right even say political landscape and realize and in many ways we are a nation divided. And that was very much the finding what our public financial security index survey when we ask people over the past twelve months whether they got a pay raise. And I have to admit I was a bit surprised that the majority had gotten neither. A better job or pay raise 52% that was a little more or a little worse than last year when it was 50%. Breaking it down 38% got a pay raise 18%. Got a better paying job and both of those numbers include the small number who got both a pay raise and a better paying jobs. We have any information as to how much the average pay raise was there is that not available. Well we didn't survey on the apple we know from other data. From the federal government that were averaging somewhere between two and after three and a half percent there and that the average again. If you break down some of the other data you'll get between one to 5%. It and the sectors the low end our retail and mining at the higher end and to be information. Oriented jobs that includes the battle world that seems to be growing by leaps and bounds to. And also it's important to remind members of our audience that flow that we are mindful or I am mindful that. All this really does matter in terms of locations across the country and the sector. In which one oils so you know as one who hailed from the midwest had family in Appalachia. Some of the the hardest hit areas so. You know they've been termed economic terms of the United States in recent years. And I I'm fortunate enough to work eleven Washington DC and by and large you know we are. Healthy economy and in the nation's capital but much of the rest of the country and enjoyed that. When you look at its what people tend to do. With these raises once they get them to did you survey on that front and get any responses there. I'll always know generally speaking that Americans have made a number priorities in recent years no one is to pay down debt and other is to save their money. And the number one financial regret that we found through our financial security and Dexter body is failing to save for retirement so. That's that's really a clarion call for young people in particular because if one is sort of mobilize at all and just getting one's career started let's assume that there are some career success being achieved. Now the time to take advantage. The value of time and accumulation. Interest and compound that interest as well. And two sort of build that saving up so that you can also withstand the inevitable market cycle. Mark looking at this data here it seems to me that with with how high inflation is running out that it's significant but still a couple percent. People still probably don't feel like they're getting a raise just because the cost of their goods are going up each year by about the same amount the salaries. Right so we are seeing an improvement in so called real wages and that is the difference between the wages that people are getting and inflation and obviously again it differs. With respect to careers areas of the country. And I also like to point out I think that this is really. Intended consequence of a low inflation inquire about where there isn't much more urgent. On the rate of inflation and the pay were getting and so if we were able to us somehow reset to what we would call broadly. A normal economy may be and I think we would see more of that it's it's a question what we're actually will get to that stage 'cause it would require essentially. An increase in interest rates what does raised by the Federal Reserve but also what financial markets internment. Dual mark thank you very much of the time we appreciate. It. That is more camera from Bankrate dot com talking about the the wage growth that we've seen over the last year and whether or not you can be in line for repair race. So kind of underwear ideas where. Rates could segue. With our Reebok guy. Reebok I'm Warren. And I just need to compose myself a little bit here and I Tenet and Tibet where there's that this is. Reason why I like I know this kind of jumped from I I'm not gonna get into the details about trust me. People are much more adjusted in the color of land where they and they aren't coming from saving for retirement movement they're blue. And Iran and the message that you can't unseat close your eyes your minds and we closed Tucker what brand of under a variety very. You don't tablet gets a paper printed my favorite brand MB Haynes paints him chuck look and a and a what color. Of it's a color colors are black who do read it like you have a favorite color. Nice grayish. White flexible. I thought that it would that would you would echo what kind of Edward you're GAAP GAAP and what color. I got that right and again it's I got a favorite I got I do them on based on days of the week is a both newlyweds Leo we blisters on my my wife buys my underwear she does every sheets and you Wear the blue ones today notices it's hard this what we do for Valentine's Day now is I get underwear because once a year once a year he doesn't seven pairs of underwear animals sent a nicer to recycle and it's it keeps it I've got a little bit older than you guys. A just that that's probably knocked out and welcome into the financial on the exchange thoughts. Holy crap what are we doing here here's how we got on the topic of underwear and a calendar why don't please don't Calvin Klein for the first time. Is selling their underwear only on Amazon.com. And yet it neither one of these that your accountant actually for X optical well from now finally get on Amazon. The others go. The that this is big lead Amazon has become the largest US apparel seller did you know that oppressive. That it is impressive the I thought about soccer cleats on Amazon last week actually everybody buying everything. Yup that's that's what that's the way people shop now. And end at any rate the if you wanna buy Calvin Klein underwear talker going forward only Amber's. Amazon.com. Is where you get the the new interest and the noose you know. But if they don't sell it say say it doesn't sellout on Amazon.com and you might be able to get instantly. I don't know ocean state job the other than that he used to go to Amazon.com to get your Calvin Klein underwear was not much worried that. It was interesting that's a word now. Dow's up a 179 points NASDAQ is up seventy crude oil's down eight cents a barrel 5525. It's Tucker silverware earned his blue underwear. From the financial exchange black and work. Our excuse me from the financial exchange rate and. 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 55 and many have no contractual agreement to care for their clients once they retire hi this is very are strong and we might be interested in buying your practice you worked hard but now it's time to find a successor the -- drug advisory group is a regional firm and we are looking to grow our business through acquisition we will consider both RI -- -- and transactional oriented firms with a solid stable of young advisors who will put your client's needs first and provide them with -- service and attention to which they 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 in SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917. B 900 or visit leader bank dot com. Emirates the SE equal housing lender and MLS and her 449250. Subject credit approval leader bank a step ahead. 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But did you know but you also might be able to eliminate your estate taxes every week on the legal exchange -- -- you educates his listeners by telling them how to protect their assets let's -- is an expert in elder -- taxation and 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 do 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 time to new guide called asset protection strategies at 8668485699. That's 8668485699. Let time the team at Cushing in -- help your family the way they've helped so many others -- 668485699. Or you can download the guide right now from our website legally. About a program called Z rent. Now this is specifically. 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Precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency can't guarantee by the bank and may go down in value leader back a step ahead. Troy seventeen has been a banner year for stocks but many airports still caution investors to prepare for a correction while some out there may be fearful of a correction I want you 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 performance call my office right now and get your free guide seven signs a stock market correction at 803934001. You work hard to build a strong portfolio let's work to keep it call 803934001. We can download got right now and Armstrong advisory group. Dot com securities offered to securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated your dream home is within reach with a Jumbo mortgage a loan from leader bank they're Jumbo loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by a leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 44950. Subject current approval leader bank a step ahead. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out -- 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 log -- to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new -- savings account that has a one point 15%. Annual percentage -- and no minimum balance and remember this product is only available online so logon to leader bank dot com right now -- leader bank dot com -- -- a step ahead. In new. This is the financial exchange with Barry Armstrong and chuck sound. You're exclusive look at business and financial news affecting your day your city your world and stay in. Formed and today about economic and market trends plus get breaking business news every day. And now the financial exchange with the query Armstrong and sharks. You may have. Lost a dollar or two in the stock market yesterday but chances are you are making it back today. The Dow Jones Industrial Average is up a 185. Points in the S&P 500. Is up nineteen points hi everybody it's varying truck with you here on a Thursday morning where we have a broad based rally NASDAQ up more than 1%. Yeah big rally happening here in the in the markets led by Wal-Mart up about eight and a half percent. Taking a look at the NASDAQ up one point 2% as you mentioned. NASDAQ the strongest performing index to this point. And you know looking at some of the big companies in there and Amazon's about point 8% and they're not really leading the way FaceBook. Is up point eight they are not so we took the rally in Wal-Mart. Wal-Mart just had a really good quarter well okay good quarter earnings grew online sales in particular the NASDAQ and trying to figure out what's what's moving it forward here don't really see anything. That is the the cause of this amount to get back to. All right. Victoria's Secret still has a swimsuit problem and sales are down 11% this year. In a victory secret they used to rely entirely. On magazine sales right that was all. The the catalog would arrive at the house and they'd be you know the way it would go through there and that's that's where knee they would get their sales for up. Now I I guess they have not made a successful transition online sales that would be my guest. No I I don't think they have an aunt and also there's a lot more competition in this space now. You know is that a fact. Steel's sales and physical stores as well as on line fell 4% so they're going the wrong direct yet it's it is they're not moving in the right direction there. And so their decline in same store sales for the year is down 11%. Think about that. Really the other day what looters who Reeve reporting Home Depot pulled people off same store sales up 8%. Victoria's Secret same store sales down eleven. Yeah and and look I think part of it is there's a lot more competition in this space okay. I don't know but I suspected Victoria's Secret is a little higher price point than some of the competition it's common lately I think they're there having the effect of all of the you know the fast fashion type companies. Are the same ones that are coming in and in knocking them off for now and so I think to be undercut on price and undercut on style. Our producer Tucker Silva is it did early stages. Of becoming a homeowner first time homeowner. Shucks ought to just bought his first house. With in the last year. Question is in it comes up should you get a fifteen year mortgage thirty years old you're 35 years old your fifty years old. Should you refinance into a thirty year mortgage it's conversation that we had periodically Hector tenure mortgages as well let's talk about. Who in win somebody should consider a fifteen year mortgage as opposed to the more traditional thirty year mortgage. So. I don't know what you're opinion necessarily as we've talked about this before. I generally the most people are better served not dole with a fifteen year were why I. And the reason for that is the thirty year gives you much more flexibility then it's easier fifteen year mortgage just by paying extra. As opposed to being locked in that higher payments so I'll play devil's advocate though if you go with the thirty year mortgage or paying higher interest rates than you do on a fifteen year. You do but it also gives you more flexibility in case things go into little bit of details but so let's say that you're someone who's making 50000 dollars a year and you've got a mortgage. That without the without taxes and insurance let's say it's in a 12100 month of OK okay. If you were to take out a fifteen year mortgage your payment might be something in the ballpark of eighteen and nineteen to 50% higher you might be able to make those payments now but let's say you lose your job and you didn't have a whole lot saved all of a sudden it eighteen or 19100 a month. It's difficult feat to make the payments on there because you don't have job you can't refinance into a thirty OK so my perspective. Is look it's a lot easier to do that thirty year and pay an extra you know if you say look I've got 500 dollars more cash for got a hundred dollars more cash flow you do the thirty year and could turn into a fifteen year but paying more towards it. But then if things aren't going well he gives the flexibility to pull back in go back to that or monthly payment. I think the other thing you have to consider is what type of an investor are you. You know fury so we are the investor all you ever buy our bank CD's at one and 2%. And you've got lots of money and invested in CD's than a fifteen year might make sense but if you're a balanced investor let's say all you ever bought were balanced mutual funds in Europe this is an attempt at that. That's what I double digit three and a half percent when you can invest the money at 7% and that's. That would. That like that a lot of people employed they say well I can make more on the problem is struck. People say well all take that 600 dollars a month savings that you used in your example right and on and save it. And the little kid you know lot of times it's well now we've got extra couple thousand dollars because we've saved it hey let's go on that trip we've wanted to do. And so. You know that they look. The the fifteen year if you go that route pale lock he win the paying that in all the time instead of saying oh we output in in my investment account is as you said look sometimes people don't actually do. And so the thirty year tends to give you a little bit more flexibility now okay tends to give you that lower payment. The downside the thirty year interest rate is often higher pretty much always higher okay. And obviously if you don't pay off earlier you know you have that thirty year time frame. Of payments the fifteen year you have a higher payments that's new kind of a negative on one side but it also could be forced savings if you view it that way. But the fifteen year mortgage rates done more quickly it's a lower rate but you do well less flexibility. As far as your ability to reduce that payment going folk. A tea ware saw this is probably 510 years ago. But I saw a lot. Of my clients. Refinance. Their house in 210 and fifteen year mortgages these are people that. Had finished educating their kids to recede along in there you know there there are 55 years old or fifty years old. And they still 300000 bucks on their mortgage. And what they did was at that time guys secret what they can do is they could refinance out of four and a half percent mortgage down to. Kiki get tenure mortgages and losing two point 9% or it was a lesson 2627. And and that's what they do it yeah as they want it to be mortgage free. By the time they were retired right now as a lot of it in. And I see an awful lot of the people in their fifties say look I've paid off you know the first you know ten years on. You know a thirty year mortgage that I refinance before I'm gonna go down to a ten year and cut in ten years off my payment in his wife this thing out by the time I'm sixty or 65. But most first time homebuyers will go with the thirty year mortgage yup and most of them go with a fixed more mortgage which. For the last thirty years fixed rate mortgages have been a mistake but it. Leave that aside Tucker so you're the guy that's out there looking for a house of weak confused you sufficiently earn your keep it up. Thirty year Rudy Rudy got thirty year deaf on. In any of the logic there would be first time homebuyers it would allow you to buy a more helps him right because that's the other thing we get to the consider track. If you with a fifteen year guy like Tucker. If because of the fifteen years I can't mortgage what it would do is it would just mean you have to move further away or spend less money per on the house. You remember back I think was in either 05 for 06 I can't remember when but banks is starting to introduce fifteen year mortgages to try to get people into more houses but that's that's kind of where you knew you reached peak housing was when it was like yeah you're going to be paying this house off for the next fifty years to ever hear of it do you guys remember ever hearing about a negative amortization mortgage. I've heard of that of her eyes Carl I've ever seen one I had one I didn't really. Back in the eighties when interest rates were a gazillion percent. I had negative and mortgage. And it was based on Libor and what he did was. I never use the negative am feature but he noted allowed you to do was add principal balance to your mortgage on each year but keep your payment very low. And that was a death or that was that was a real trap but it actually worked quite well Mozilla thinking behind them trying to. I'm trying to think of the the logic was it would allow more people to buy a house and because gotcha because it would keep your payments. On a guaranteed base is very very low. But what could happen as you might abort I can't remember what I've matured for a man to 300000 dollars is in the eighties. And if I hadn't. Stayed on it and that mortgage balance could have actually gone up over a period of time was called the negative amortization mortgage and darn it I can't remember the name of the bank that issued it. You you know the other thing that I am seeing more people doing now on mortgages people have been outstanding mortgages already on their homes on our recasting the sports. The ever seen now what what you do on a recast is you take a in addition of principal and you attic in. Any keeps the same memorization schedules Alicea of eight years left in you throw an extra 25000 in it keeps keeps that same eight years schedule bull lowers the payment effort. Like I actually I just made a payment on mortgage I have. And I didn't do for that reason I just want it to pay down some experts but this -- I shall I say payment doesn't change no this lets you if you want to improve cash flow that lets you throw principal lot in and recast downward how much you have to pay every month do you have to worked with the bank on South -- I do and typically they have minimums for the amount you have to throw in a lot of banks usually either 5000 dollars or 10% of the outstanding mortgage whichever is greater Sophia a 100000 dollars left on a mortgage adapt throw at least 101000 in order to recast. Paid you know anybody who's looking for work you don't have to have a college degree. But you'd have to be drug free and yet that clean criminal background there is a company. In New England. That is hiring apprentices. In a union shop at 21 dollars an hour and when you finish the apprenticeship program you'll be making thirty dollars an hour. When we come back we're going to be talking about that apprenticeship program that pays 21 dollar per hour starting wage 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. Are you financial advisor who lacks a formal succession plan you're not alone according to investment news 43%. To financial advisors are over the age 55 and many have no contractual agreement to care for their clients once they retire hi this is very are strong and we might be interested in buying your practice you worked hard but now it's time to find a successor the -- drug advisory group is a regional firm and we are looking to grow our business through acquisition we will consider both are hiatus and transactional oriented firms with a solid stable of young advisors who put your client's needs first and provide them with a service and attention to which -- become accustomed if you're interested in talking with us please call me at 803934. Zeros -- one that's 803934001. Or visit us online at Armstrong. Advisory group dot com securities 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. The stock market has been on fire for the majority of this year the Dow NASDAQ and S&P have consistently set new records yet uncertainty about future. Performance remains and fears of an impending correction continue to worry investors hi this is very Armstrong and I want to alleviate any fears you might have your portfolio won't survive a market correction clearly we can't predict the wins and yes but we can prepare and that's the focus of my brand new guide this month I've identified seven key factors to keep an eye on that could contribute to stock market correction including overvaluation of the market and rising corporate debt to receive your free copy of my new guide seven signs of the stock market correction call 803934001. That's 803934001. Or you can download the guide right now -- our strong 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 America companies are. Unaffiliated hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out -- bank is offering in -- 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 -- 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 -- savings account that has a one point 15%. Annual percentage -- and no minimum balance and remember this product is only available online so logon to leader bank dot com right now -- leader 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 ones smiles at the most. Is it financial exchange radio network. Submarine maker. Electric boat has run into a challenge among its biggest hiring push since the Cold War. Finding enough qualified workers in a small state crowded with defense contractors. This is one of the more mind blowing stores to me on one level but on another it makes a lot of sense so electric boat has an apprenticeship program where you can come in. And you can start in at the basic stages there making 21 dollars now or in the and we're talking about. Apprenticeship programs that pipe fitter welders is welders yup you know things that again a year you're gonna be a skilled labor on the you know some some really complicated equipment but you don't have to be a pipe fitter now and that's not wanna make they're going to train new. They they're going to take you to re full apprenticeship programs that you can learn the ropes and understand what it is that you need to be doing. In these jobs when he finished up OK immediately after finishing your own make about thirty dollars an hour depending on the trade might be a little more might be a little less but in that ballpark. So I look at that SOK so the wages. Pretty good you know you talk about wages starting out with no experience right around 40000 dollars a year in going up to 60000. After you finish that you know apprenticeship over. And chug that part of Connecticut and people may not be aware but it's that New London county area he talked about New London Groton Waterford. That's a very inexpensive part of New England in which to live you can but I find a house for a down there welfare is safe couple went down they can buy a Condo for less than a 100000 dollars really and you can buy. In all modest house you know like ranch house sir you know 1970s. Split level. For two maybe 300000 dollars in good school communities like these are these are not these are nice areas where you'd be happy to live. The other one of the problems that they're facing here is finding people who can pass the background checks in the clearance of anxious. You know let's talk about that because he's our. Jobs where you're working on submarines. And you're working on some of the most sensitive technology that the US government has when you talk about you know nuclear powered submarines especially some of the ones where you've got you know cruise missiles attached and and these aren't I don't I don't believe that no electric boat is making the replacement for. The Ohio class of residue in the Virginia class here but it's you're talking about state secrets and so it's not just that you have to pass a background check read into anything illegal. It's you're going to be drug test. You are going to have a lit you you're going to have to list. Everyone who you've lived with over the last decade with a you're not you've lived internationally with anyone. Traveled in all of these things because they're gonna want to know when are you a potential threat. For bribery bribery blackmail because they're awful lot of people and other countries that want secrets as far as hey how do you make those votes what's this system do how does that operate. And they want to make sure that you are not a threat to be blackmailed abroad and so it's very difficult to find people. Who. Have not even have the skills they have I guess that the clean background for this job that also want to do. You know where they're finding people they're finding people that used to work at JC Penney defining people used to work at best buy work. In the retail sector. And they're saying. G retail is dead I don't wanna work in a warehouse in a thing about this and let's say your an Amazon worker and where else would you make in 1213 fourteen bucks an hour right. Jeff in fixing it let's say you are big big year a higher level Amazon workers fifteen dollars an hour go to work for electric boat. And you start off at 21 dollars an hour with benefits by the. Folks. And the other thing that is interesting about this is. These are not jobs that are gonna be gone a year from know years from now. The with the deals that have been signed with the appropriations that have been made by congress okay. There's like a fifteen year pipeline of boats that need to be built so you are going to be able to work here. The next fifteen years if you're able to do a good job well. Think about this the company says that it needs to hire 151000. To 181000 workers by the year 2030. While about. 40%. Of its current employees will be eligible to retire and then expecting yeah so that's what's happening is. See electric boat had really sharp eye and I can't remember the numbers exactly but I think at one point they had 20000 employees down there. They sharp all the way down to about 101000 young now they're ramping back up again. And so the result news. A great opportunity if for I'm just thinking about people that. You know maybe there may be their career did not work out the way they thought it was gonna work out maybe the Iran a track to become the manager of a Macy's store and it just didn't happen. You know what here's something where. You know he might be 35 you might be forty years old but this is something we've been pretty good job security and alert even if you CAC worked here for fifteen years. You're gonna be a pipe fitter at the end of that fifteen years they're the W might build the works or else. Get to work on building nuclear submarines if you wanna be in the trades there anything cooler that you could potentially like if you're not sitting there saying oh GM put me get a dog house like you build a nuclear submarine. And it's and a nice part of the country it is just that area it is Izturis. If you're on the go you can still keep up with the financial exchange on the I heart radio app available on both your phone and tablet. Just search the financial exchange a deacon individual segments or full shows if you can't listen lives we've got it covered on the I heart radio. Tucker remember the other day we're talking about Hoover and how much money those guys made it up and whether or not they can hit their bonuses and things like after. There was they edit and boy tremor it was an 120 your 150 rides in a week. That they had I hit wanna say it was 151. Pen anyway we got an email from an uber driver. And not only did he talk to us about you know what his. He's his experience has been as in Newburgh driver. While there read the emails that are game by divulging any confidences there Tucker now as long as you read the email address. I Berrian chalk this is my friend and I won't uses name from New Haven, Connecticut. It's almost impossible to pick up a 150 customers in a week. Look at my last week and he was enough to send us to stay sent over his earnings sheets from mover for the last week look at my last week and earning sheet over sixty. Worse he worked mom in just a little over 100 trips. Hoover in Connecticut is a broken equation they take 25%. And it costs 35% operating costs. I wind up with a about forty cents on the dollar. And he goes on to say it during the course of the week Whittier and 720. Dollars it was about seven yes 728 dollars so he gets forty cents of that. Is is when his statement was and that means he's made in about 300 bucks a week working sixty hours. Yeah it's late it's just when you factor in the thing that you have to remember you should call electric boat you have to factory and all of those other things that you spend money on the gas the maintenance all of the you know everything you have to do on the car and when you do that. You know again it's it's it's costing you a lot of money gap solution called the 720. Dollars is what he earned sixty hours. Tips release sixty bucks or people Connecticut that cheap I find that amazing for a 108 trips OK only sixteen dollars and tips that's crazy I I typically am like on a are right it's fifteen bucks I might tip. Mean a two dollar debt a right it's thirty bucks on my tip five or something that is what I he'd he'd made 712. Dollars and trip earnings. And then a paltry I considered a paltry sixteen dollars in gross to a fun. I would expect I would have expected the tips to Beilein how that's new with two where they're allowed to. It is relates to make it's any time you've finished a ride now that comes up now let me. Email you after lift does annuity millions Anheuser ride right and you wanna leave a tip the and I did and and then they also ask you what would you recommend that I got and then lift Carney didn't have any water. So I put in my comments if you'd had water you can even bigger to pay coming up. We'll be talking about Sports Illustrated. The financial exchange is alive on FaceBook so make sure to like your page and watch the guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally that just makes sense of leader banker called them learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency can't guarantee by the bank and may go down in value leader bank. 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 correction I want you to be ready for one I this is Mike Armstrong and I've got a brand new guide out this month designed to help you prepare for a market correction to guide identifies seven core factors each of which you should pay attention to in order to protect your assets and maintain a successful investment strategy is guides available right now by calling 803934001. X 803934001. Take the necessary steps to protect your interest regardless of market performance call my office right now -- get your free guide seven signs a stock market correction at 803934001. -- worked hard to build a strong portfolio that's worked to keep -- call 803934001. We can download got right now and Armstrong advisory group dot com. Securities are for two securities America incorporated member finreg 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 year 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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Unaffiliated this is a special announcement for all landlords chasing down only rent payment and making trips to the bank to deposit checks ticked past a lot of red day -- zero leader banks all mine rent collection tool zero automatically deducts tenants rent and deposited into your account visit WWW duds he ran dot net to learn more when you rent your payments -- unit to receive regularly on the same day every month tenants pay nothing in the first six months or three coral landlords visit www. Z ram dot meant to learn more or call 7816 or 18691. Hi everybody it's very Armstrong and potluck ski from the law firm Cushing in dole and we're talking today. About state and asset protection strategies. That can help reduce or eliminate your state taxes. But is it true that a married couple living in new wing and with two million dollars in assets pays a voluntary. Gift tax. A 100000. Dollars to the government they don't have trusts in place I'd certainly can't be certainly depends on which state and to be 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 we'll 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 guide the poll number 8668485699. Or visit his website it legal exchange showed dot com net. Legal exchange showed dot com or call toll free 866. 8485699. Markets are odd time. But questions remain about whether or correction is coming. We've got you covered every day with what's not and what's not from Mike Armstrong. Mornings at 1030 only on the financial exchange radio network. There are three of us in the studio and two of us are getting on a plane to travel for Thanksgiving our poll question today. Is do you plan on traveling more than fifty miles for Thanksgiving. Trucks traveling about would you say it and about eight under so Tucker's traveling ten miles cash. Ish maybe ninety accident. I'm ones and 1012 using a religious school twelve point seven and how farce Phoenix Arizona business from Tennessee got about three now a couple miles. They weren't written jacket are definitely traveling more than fifty for Thanksgiving are you eagle and if you'd like participated in a poll please go to our website financial exchange showed dot com. Thus far toward the Phoenix is 2600 miles a long way. 23% of you are traveling more than fifty miles 76% of you see it stay home for Thanksgiving. Time incorporated. Is going to launch exports fifty point two miles Boca there's. A he really was that important. Can't get one very important that it hit a when a five to go it. Nobody ten years it was just interest in this time incorporated is going to launch a Sports Illustrated television program. Our television station. I don't know if this is gonna work this is it I wouldn't be what five dollars a month the so what's attitude for this channel and you can only get it through Amazon dot on this. I don't so here's what's interesting is there's a market for niche products at five dollars and there's okay. I give an example talk you probably know about this Boston sports journal that Eric Bedard started a you problem maybe six months ago this month ago samarra marriage it is niche Boston sports. In depth information okay. In a span of six months he's got about 6000 people paying four dollars a monster he's doing about it 250000 dollars a year probably if you do the math that. There's a market that's yet to show you why don't we just alleges it's just the web's OK and so there there's a market for niche content. I don't know if there's a market for someone to pay five dollars a month. Mean these are so many slivers of models for just being big you know Sports Illustrated extravaganza now like I I don't I don't know what sounds like they're going to be. Do a lot of documentaries and kind of that thirty for thirty feel that's when my takeaways one display only that I think Peter with their counting on is they have a print circulation I'm surprised there print circulation of two point eight million people. So I think what they're simply asked Angela that's on high that it says in no I believe you anxious while and they they think the the can push that group over. To watching the tail. I just find these nothing on TV you know or watch Netflix and those just like garbage. You know in a dealings I or turn on blu Bloomberg and I'll read something while doing that is just right find anything I want election. I just think what a win win every company comes out there and start saying hey we're gonna charge you five a month and Morgan charge a five month right. It'll be out pick and choose and the problem is here only so many hours how much time and spend watching TV but but here's why the bundle. In the long run is good for both the consumer and the business is okay if you find a million people. Who decides subscribe to this I'm not saying well what's it a million people subscribe to Sports Illustrated TV or whatever it is. They get sixty million dollars a year. Okay whereas in a bundle let's say they started this in got an eighty million homes just like ESPN doesn't if they just charge two dollars. Per right okay per per user for the rights fees all of a sudden you sit there are saying gee. Two dollars a month and eighty million they'll get a billion dollars a year coming from the bundle is good for the company is they get more revenue. Bundles good for you because you don't have to pay five dollars for each state to move the bundle is the most efficient way to get content where we want to this problem life. More than than what you need right but. The problem isn't that we had bundles its that we couldn't choose what was in the exactly I think what you are going to see going forward. Is ala carte pricing where hey you pick any thirty channels that you want done. For this price when you pick any forty channels you want for this price oh you want that. You're gonna get you're gonna pay an extra two dollars surcharges cut its gonna be like a menu where you go to chipotle you say I want XY and Z and if you want Glock it's a little more. That's what it's going to be like with a bundle they should have done that a decade ago it's too late it was too much money he made. The cable companies are gonna lose out on that it's all gonna be streaming now but that's that is the future of the bundle is you pick your channels and you're good to go and. They quick announcement on behalf of Cushing in dole and it seems like quite often. We're hearing stories about states whether it's Connecticut or Massachusetts. Challenging. These durable global trusts and these Medicaid applications that accompany the herbal trust. Why the increased scrutiny while the states are broke and what they're doing is they're trying to see if they can pierce these are vocal trust. Sometimes they're successful why well they're successful because the trusts have been drafted improperly. If you'd like to learn more about Cushing and dole considerable public trusts which had been challenged but never beaten. Well give McCall their phone number is 8668485699. It's a new guide and it's called designing the perfect income only herbal will trust. Available by calling 8668485699. I know some of you are. Impatient. Anyone right now. Well if you're like that new for elect me go to their website legal exchange show dot com you get to trust document right now. By going to legal exchange show dot com. Yesterday epic was yesterday that we reported that Hasbro. Had made an offer to purchase Mattel. Sounds to me at least from what I read chucked one of the big investors in Mattel said no thanks it's not enough money. Yet that's that's the sense that I get is well and and for good reason tells a company that is at the beginning of the year. Was trading north of thirty dollars a share down and so for Hasbro to come out and say hey look we're Urbina and offer somewhere in that eighteen to twenty range. Doesn't necessarily have enough juice nominating get a deal done simply because BO shareholders say. Well look we are worth this much nine months ago we can turn things around we get right back up to okay. So I think that's probably what a lot of Mattel shareholders are looking out there's one in particular. Part assists endeavor fund yup and they owned it. They'd be. We're the only law. And they don't sixteen million shares of Mattel which represents. About 5% of the company suits its its a big share. And so you know they pretty much said look we are we are not going to accept the sale below the 2225. Dollar per share range. The stock so awful little bit yesterday on this news. Not a ton and so I think what you're probably seeing here is you know folks say okay is has broken comeback in with a higher offer in that range 22 to ten when they tip their hand at all. They have really they have really. Out I was looking around even just like an options changed just to see if anything's moving in and people were betting on that front. There's not a ton of movement on the options on things so it seems to me like there's you know real you know. Information going on at this. All right so the Hasbro Mattel acquisition. I wouldn't say it's did that it's. In holding pat yeah it's it's an old I think will revisit this after Altman's. Woody is called Dunkin' Donuts Tucker TDs because they have made people I've me in the office to sail boat docks are going to do yeah I'd I agency dunks donkeys. We're donkeys monkeys. I guess there rebrand. Out in California I've you can pull the tape on this from three years ago like told in the news. I'm an error that now I was here first tested get to the Dulles is call yourself Duncan. And analysts and that's what they're doing. The theory they whether it's didn't start at a California. The problems of they did it in there even internationally they've done it is well. But yes on a sudden Madrid via their starting now to rebrand their stores just his Duncan and I think it's more for them. You know get away I know that the don't to repay your teeth but. Look the quarter business now call. And priorities profits there and copy in the water you know water and you ran intervenes like this that's what it is. And so I like the fact that they're doing this is I think. For them to be successful and continue to grow in the long run they have to get away from the perception that they're just a breakfast it's okay. They have to be able to say look we can get and they wanna be busy. You were Tim Hortons Tim Hortons when they're competitors in with Tim Hortons doesn't do a bang up business for lunch and it. You go in there and in and get luncheon dinner so Tim Hortons is busy from 6 AM to midnight. You drive by adults wore Starbucks that. A lot of action what's what's your average size of its importance is bigger than to customer knows. It's ever been wasted a lot of we're Hortons restaurants 44 and a. Tim Hortons is are they bigger than the average Dunkin' Donuts unless and they're the they are more. It's the more comfortable lot of Dunkin' Donuts is actually no place to sit in that's the thing a lot of Dunkin' Donuts you might have three small two person tables and a little counter it's not inviting. Right and and I just wonder Hortons is much I don't know if they have the footprint to be able to get people come in for one today is you know you can eat breakfast on the go Lotta people do this they look at grabbed a donut or bacon egg and cheese and you can take that on the guilt what so many people adults get the answer it's eating or even walking dollar you know it's tougher when you're getting stuff for dinner and if and frankly the dinners at their lunch and dinner from hasn't been great. You know it is have you worst import. This does have good lunch and no I that I'm in garden your dunks you know for two years he has to ease a Starbucks guy would you get these giant salad sandwich from Dunkin' Donuts he's going to do scale on us that's and it sounds gross to me I don't know doughnuts and when I'm from my ago government donors from the doughnut chicken salad and to ourselves donut. Brought up the evil one mosque is gonna be plugging his new truck we'll talk about Elon Musk and Tesla when we return from the financial which. Adrian. The financial exchange with Barry and chuck is liable on FaceBook and YouTube every morning beginning at ten and this is the financial exchange radio network. The stock market has been on fire for the majority of this year the Dow NASDAQ and S&P have consistently set new records yet. Uncertainty about future performance remains and fears of an impending correction continue to worry investors hi this is very Armstrong and I want to alleviate any fears you might have your portfolio won't survive a market correction clearly we can't predict the wins and yes but we can't prepare and that's the focus of my brand new guide this month I've identified seven key factors to keep an eye on that could contribute to a stock market correction including overvaluation of the market and rising corporate debt to receive your free copy of my new guide seven signs of the stock market correction call 803934001. That's 803934001. Or you can download the guide right now that are strong advisory group dot. Com securities offered to securities America incorporated members in SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Are you financial advisor who lacks a formal succession plan you're not alone according to investment news 43% to financial advisors are over the age 55 and many have no contractual agreement to care for their clients once they retire hi this is very are strong and we might be interested in buying your practice you worked hard but now it's time to find a successor the arms drug advisory group is a regional firm and we are looking to grow our business through acquisition we will consider both RI AA and transactional oriented firms we have a solid stable of young advisors who put your client's needs first and provide them with -- service and attention to which -- become accustomed if you're interested in talking with us please call me at 803934. Zeros or one that's 803934. Zeros -- one or visit us online at Armstrong. Advisory group dot com securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are. Unaffiliated hi this is very are strong 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 and don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates change get. Free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. Security suffered two securities America and members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Vote on our daily poll question as financial extreme show dot com while you're there buyer of the media player and watch the show while you work. This case the financial exchange radio network. This segment of the financial exchanges brought to you by receiver kick your land or take advantage of zero. If fully automatic online rent collection tool that is free for landlords within account at a participating bank and always free for ten it's now. A cult now a collection of local banks are offering this unique program including leader banked in stone a bank sign up and have read. Payments deposited directly to your cab call 8776917900. Or visit zero dot net for more information. Your bank is a member of FDIC. EU on mosque is unveiling his new truck today. This is the big semi truck that he is going to be. Unveiling here and what men this amount of skepticism with tight well and what I'm most curious about is. The batteries OK because the that the big problem is is not the electric motors needed you can have electric motion generated ton a torque and generated instantly you have no problem. Clean no pollution the problem is the batteries OK because heavy. There heavy in in order to be able to. Provide power for as long as the truck needs you need a ton of them and the promus all of the weight that you add for batteries each week that he can't care for cargo. And imagine how long it would take to charge those that are well that's the other thing so let's say you have this truck can you say okay gee we've got you know this this battery pack that is. You know five times the size of one it's a Tesla model lesson. OK does that mean that I have to charge that thing for two days in order to be able to drive it. What if he came out and said we have the solid state battery we've been working on it secretly in were unveiling today. Then we've got a hold of the ball as the stocks up. Stock's up five bucks I mean this guy if that's the case we've got a whole different ball game but if if not I'll give this message okay. Will he do this guy is a magician these days I I have a friend is a short seller in these short. He he is short Tesla. And he's very down on new you know short guys are always. We are very negative at a brief period where I was one of them up and a half ago. Outside he has just written I moved on from there because it wasn't worth it anymore leave rinses people he just takes their money. Yeah he's just and I wonder if he set us up for another one today now moves will see if if he comes out with some kind of you know massive battery advance. They all bets are off on where the stock deal but I just today I just I I have to think there would have been more talk about it to this point. Speaking of electric cars. Volkswagen is planning a twelve billion dollar electric car blitz in Chinese guys who like to tease me about electric cars. The money they anyone admit it or not the money is going into electric vehicles. Yeah Volkswagen one of the two biggest manufactures over there and they're going to be spending twelve billion dollars over the next eight years developing electric car specifically for China. And so you know they clearly realize that the growth in in auto sales is in China. And sell more new cars in China than ever will in the US what are they gonna sell 23 million that your Paula that the data just to see with the growth US won't do seventeen so in China back in 2008 so a decade ago no okay that got blocked out is this thing too many times. Back if you go back a decade ago they were selling about I think he million vehicles per year in China but there were twenty yeah it it is the fastest growing car market in the world and is the biggest car mark. Yeah in the world now so China is really a a focus point for a lot of manufacturers Volkswagen a particular. They've already got a big footprint that along with GM of the two biggest international makers that he you look at the big players right. Toyota's not being in China but even that volume is huge there specific. For whatever reason the Buick brand is huge in China and yeah I'd GMW's got a nice and I sent over there as well do that yet. Volkswagen that are out if you go over to oh initial lot of buicks in China. That they wanted a lot of Dubuque that you buy in the United States are mated they make it's on there they sell on there. Blocks like pencils time out he's over there. Saudis are kind of the high end corporate car that you would the next night I say it out he's in and buicks are kind of the two tiers that half the corporate cars there. Chrysler is making a huge debt on their new Jeep Wrangler. Yet this is going to be adjusting to see how it plays out with the new Jeep wranglers in the love geez it is especially the Wrangler. Is it they're my dad's got one of these and you know he's got it a beautiful Lexus and he's got a Jeep which one do you think he drives the G the GG. And it rises drop. It's noisy and in love is gee it looks like they're trying to. Keeps things somewhat traditional with this redesign yeah they're actually the interior they're going a little bit retro with a back to kind of the eighty's and ninety's styling in the interior. And I'm optimistic that they've they've nailed this because the Jeep Wrangler you think about in terms of iconic American cars. It's one of them you know as salute to Jeep with it's top down ironically it's owned by Thea. Brothers iconic American cars that is owned by a foreign company the other. You know it's kind of like yeah I just have that great Budweiser big client made by a Belgian company. They say that just the Jeep brand is worth forty billion dollars us worth more than fort. Worth throwing more in the cars spinning you know it's just adjust the value of value of the Jeep brand is worth forty billion dollars so. Fiat Chrysler's been trying to find a dance partner right they tried to merge with General Motors Mary's home and get lost. It made this brand is is this is the company. And the thing is the Wrangler has continued even even with Fiat Chrysler struggling. The Jeep brand and specifically the Wrangler has been able to command a Freeman the average transaction price on the Wrangler is about 37000. Dollars. Which is over 55%. Higher than the base price of 24000 so people continue to pony up for these cars just because. It just has that that appeal to. I had a couple of them and my dad has one now when he looks at the really important part of that plan. Tucker just how bad the New York Giants. They are putrid there are rate up there with the 49ers the only team worse the browns yet. No idea I 49ers beat the giants switched 49ers beat did you that the Monday night game. Let's see it's basically if you wanna go to a football game being giant tickets pretty easy to come out of Korea. That's like that's a fed up fan base Greta I'm gonna do area alive update on this right now checking out stub hub they used to be good when Tom Coughlin there oh sure. It was the only team that you feared facing in the Super Bowl and beat us twice yes so right now if you wanted to go to watch Sunday's game against Kansas City Chiefs. Chief surrogate team you know I'm right there I'm against a so how many do you want. That topic thousand you take a thousand with a good news is that there about 8000 tickets available right now why I had stadium what do I have to pay for the primo seats so the best value see if you wanna be in the lower end zone in the 36 row. You can get those tickets for 55 dollars each couple. Which is. Peanuts if you wanna primo seats so if you want sidelines of fifty yard line twentieth row a 140 dollars. Son of a gun at the Dow was an up almost 200 points the Dow is up a 195. Points NASDAQ is up 82 points in the S&P 500 folks. Well it's up twenty points its talk herself. Chuck exotic and very Armstrong signing off for today from the financial exchange. Radio network.