Nov 27, 2017|
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
This is the financial exchange with the very Armstrong and chunks are now. You're exclusive look at business and financial news affecting your day you're sick leave your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. To keep line of Spiderman is with great power comes great responsibility. Boomer is learning that the hard way. With another. Story that really continues to what diminish the public trust. In this company trucks out of Michael Armstrong Tucker still here today. And Mike this story from Hoover. Is probably the most disturbing one that I have seen to this point. Because it shows a complete lack of any concern for any of their customers any of their employees. Any of their contractors. And as such. I am officially off the uber bandwagon completely and I don't know if I'm never going back. That's that's a fair take my have my real issue with this entire source let's cover the story first. 57 million accounts then were hacked. You one year ago. If you are user of Hoover then you potentially had your credit card information yourself phone contact information act pitcher a driver for over than you have a whole lot more information that could have been in private sources extra security so secure our report facts are straight to return until security numbers I challengers were not the driver's licenses works most of the 600000 drivers. Of Hooper of the time and you know what this is bad enough on it's it's bad enough that Jim beam data breach like Equifax did like. Targeted like Home Depot did but. They re action. To the data breach is deemed far more important than the mistake itself AD it's never the mistake it's always the cover up that gets you in trouble and here's what happened. It happened a year ago and are finding out about it today. Who resented it rumors and a lot of trouble here they're going to get lawsuits laughter and senator fortunate than the not a public tree company analyst at every shareholder would be up in arms race. Tucker what. Bad words a mile allowed to say on the radio hit or names for people. I just realized it was fired I get the dumb partners what what are you just look at that list. But. This is one of the most. He needs examples of just. Corporate malfeasance that I've ever seen because not only again. Breaches happen they happen to you think will happen to every company that has some kind of Internet president because you can't prevent the race you can't prevent every single breach. The problem here. Is that Ober said. Oh what I can tell anyone about this in beyond that we're gonna trust any hackers that actually hacked just to live up to their word. And say we have we pay a 100000 dollars you'll make is it to go anyway but do you trust the people who hacked your system that's a real easy way. Define yourself back in a whole lot of crap down the road. This company has absolutely. Zero spine to says company has absolutely zero morality or any responsibility. And they deserve zero benefit of the doubt at this point out and so what I've been one of the most vocal. Supporters of over over the last two years in I've I've said hey look their new company to trying to beat. You're out you can't do this or cannot do this in deer catchers Johnny grant to this did not happen on his watch you know and he's one of the reasons why. This is come to light now because he has come out and said look I came on board. And I found at this breach happened visible what protected we do about it and so he is one of the reasons why this has been disclosed now but I'll tell you. Derek and by all accounts. Rick I did a great job at Expedia. He's got an uphill battle to win me back at this point. And the burden of proof is on Hoover now to prove that they can build a company not only that it's safe and secure. Also that actually cares about any of the people who either work there or or use the system is at this point. It seems that they don't really care about anything other than money and that makes them no better than taxi medallion owners. Who you know effectively created a monopoly for years. And who we've railed against for saying hey why didn't you open yourself up to competition if all they're gonna do was just care about money a different way. I'm Don I am I need to dawn the app I deleted the app earlier this year I do I deleted at six months ago I've been using lift anyways but I am. I am don't with Hoover and I do not think I am ever going back. Unless you see substantial changes and AMOCO and that extreme shock I mean like you said this happened under the Travis a lot of days and the fact that the CEO recognized that this need to come out speaks volumes about. His stature is a C yell it does and Derrick out jogging and I think we need to make the public I think he's done a good job since he came on and like the fact that he is doing this. But it's weird where there's one issue. There are typically authors sire you know. This is no different from you remember the Wells Fargo situation a year ago where this ago we had some of these cross selling things that came out. In the gradually the number of accounts grew in the new found out it was and other divisions in the number of accounts grew again. This has that seemed beaten us that these companies kicked it out of its own way but I think Derrick is trying to put out those fires where there's smoke agree and an -- any of the responsibility on him but he wasn't there when it happened just it's not his fault and I'm Smart guys just apologize or and his chief Amin no way blaming him but lake. This for all of the people so we should still have Travis clinic's back in you know it's his company should oust him. This mess Travis collect what the heck you do like the company that you ran here. If that was really ever comes back in any capacity eases companies then that I don't think the candidate hi I would assume now I don't think he can at this point like with everything that's like the about the the failings that he said he had sexual harassment problems on himself but his company. At all kinds of sexual harassment problems. You had a data breach that you paid hackers off for. You have all kinds of legal issues with whether or not you were under compensating drivers. Yeah of the ongoing question of whether or not these people are actually contractors or whether their employees. You have. Improper background checks for drivers who were you know assaulting passengers. They re just talking yesterday what how Colorado finals ten million dollars because downward. You are giving people rights to drive that Heather says your driver's license revoked it felony convictions. Yeah what I. Aspect of the business did you want on the open up. Like what what did he do by the book and and I understand that when your startup culture hey you try to cut corners because hey you're trying to get around you know what the big guys do when you want to be nimble. Put me in late. Now what the heck do you do Europe's largest comes office completely spineless and Mike sort of like to work this I think I don't know. I do I was a New Hampshire last night's I had about an hour drive home and I was thinking about this is a new we're gonna covered as a as a main story of an editorial in hosts it now I'm like. Well delight delight you pass you know. Man this kinda stuff like when he when he it's everywhere. It's just eat it eats at the point where it's just too much and it and I wonder. I wonder what the what what the outlook is for there castor sized cars you know his turnaround of this company now he's trying to take this company public in two years. Panacea. I don't see it most and it Renault says maybe there's a huge turnaround here and they completely revamped things in your turn things around right now it's a really bad luck we is that somebody text him a woman roommates I'll have to feel too vulnerable. Only take them on business trips and have hotels arrange it's. I don't know if you're talking about half as well as numerous year but I would advise you if you're feeling comfortable in cabs you should feel as comfortable last I hasn't comfortable or less comfortable maneuver as well I don't know where I'd feel more or less comfortable you know it and I can't put myself and I feel I feel more comfortable. Again as a man I would feel more comfortable and taxi then I would maneuver because I know that at least the taxi company as having more oversight of these drivers these days in the uber than numerous. There are more background checks they're getting fingerprinted and you'll at least know you know being driven around by a felon and yet Cooper has failed to prove that. It's. Be it really is sad that we've got to this point is that this is a company that had every opportunity. And really was the disruptive force in this industry and they they they what they failed late that they failed to disrupt the and they failed to act with basic human decency. And that's the problem here is they were doing things purely for. Money and we know the business is like to make money. But you have to have trust in the system if you want to have a long lasting business if people don't trust your business they will not go. And buy your products. Aaron. Good news they disrupted industry to completely changed it and now they're you know Latin. They're gonna I wanna competitors to step in and clean up I think lift is going to have a huge huge increase they're business that is into this issue I mean estimates in the precedent they set for hackers and cyber attacks going for like 42 point thank. Oh yeah we'll just pay the ransom if anyone decides to practice. What's that. Again that part doesn't bother me nearly as much on you know to disclose not nearly as much as the old bulls while others make enough you you don't. Yet it bothers me a guy who act in on yours sincerely as much as you can write us a little bit early may duplicate copies all over the place and what are from a public hey we won a hundred more a thousand all what did you make the hackers. I know legally binding agreement they wouldn't bring it up again after they really care about that. Now that we've ruined your Wednesday let's move on happy. Turkey. All right. We are to tomorrow tomorrow tomorrow we got certainly got a whole bunch Turkey now I happen to while mop my my wife's friends always have a a friend's giving the weekend before Thanksgiving the zone had that this weekend no and we in we had two turkeys we had a eight baked Turkey and we added deep for a deep fried to marry. And so we it got me thinking what is the best way. To cook a Turkey. We've got three options really for options that were putting up on our poll question in this is up on financial exchange Joseph dot com so head over there invoked. What is the best way to cook Turkey we've got beat. Deep fry smoke the other is that maybe you boil Turkey and you're one of those weirdos or something I don't know an oil expert and again they took four days that's that's why it'd be one of those weirdos but. Look whatever it is I like to have a flavor whisper and lastly if you if you prefer tart sushi that's fine to tartar got a little Turkey tartar you know whatever you want. But uninteresting in learning how the financial exchange listeners. Like their Turkey best of head over to financial exchange showed dot com and vote what is the best way to cook the Turkey. I'm not gonna reveal my answer now is at a one askew the poll present of the things often gonna go that way they'll obviously. But vote on what the best ways to cook a Turkey on financial exchange show dot com. We are going to take a break right now and when we come back Vijay back this warrant from the economist. We talk about whether or not John Flannery is the right man. To revive GE that's coming up right here on the financial exchange radio network. Trump's administration hasn't passed any significant legislation yet but tax reform is front and center it past the end of the year. 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 that. Work 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. 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Gee he is obviously been in the news over the last couple weeks after rock cutting their dividend and announcing a restructuring plan. And joining us now is Vijay about this warrant from the economist you talk about that plan. And in what John planners trying to do here Vijay thanks for coming on the house. BJ can you lay out the the general tenets of the planned. That was prefer her proposed by mr. Flannery. Certainly. Now we all know the trouble that he at a late. If you knew wish boss John battery has strategy depends on three pillars. One of them has to do with changing the culture and GT which has. Lost its way in the last recent years. Second one is ruthless cost cutting effort. And the third one has to do was really returning to the core of the business process that began under Jeff Immelt and his predecessor about was not completed. When we talk about returning to the core of the business what are the focus areas that they have now. So GE of course got its start with Palestinians and is it been an industrial company and it's art but over the many years especially under Jack Welch. Lionized former CEO. Eight it was beta became a big financial company and it kind of got into all sorts of businesses. Jeff Immelt after the financial collapse of Lehman Brothers and financial crisis. Began to unwind those financial holdings which at one point gave more than half of the company's profitability. But had interest it was really recklessly that would accompany and that largely has been unwound its. Good to be essentially going forward to business is about aviation business is doing very well healthcare and business that is doing well. And power which is not doing well. When we talk about powers that are we talking wind turbines nuclear reactors all the above in and where the biggest struggles on that side. Such it has its toes in the water in. All aspects of a power but really the biggest and has been played technologies are gas turbine. Something like that they're that the world power is generated on cheap he turbines around the world and allow extraordinary. If you think about it installed asset base and and that's also killed based power they do have a nuclear division that nuclear does not have much of a bright future. In terms of the company says and most analysts at a potentially say that they also do have a renewable business excuse bought field Enron wind business. Many years ago and skill developed so that's a nice little earner but is small compared to the power of the power business. We've talked to hear a lot Vijay about the that the cuts in the potential sales that they're gonna make of some divisions. My question and when that we've talked about on this show is. What's the company's plan to grows then because. They don't seem to have that that your product of that that one growth area they can really boost the name in my just missing something on that side. No you're not missing as something a bit at the highest level they are going to be a smaller company. Smaller can also be beautiful and eat it more profitable right there have been what should matter to. Investors and owners his return. Not top line revenues but typically managers get very excited about growth and cost. But investors believe long term investors in many of us. Has she stock. Mutual funds or pension funds. Care about total shareholder return. So if accompanied him to produce more sustainable returns. On better at that even if there's while asset based but we should all be happy about that. However having said that that the group that really relies I think honesty could saw and that is digital. And the company believes. In something called the Internet of things. We don't know but this sensors. Ubiquitous Internet connectivity. There idea. Which is sometimes called the industrial Internet is that is every bit of equipment in the industrial world packs before. Machines. Jet engines all of them a wired up. And in real time and the digital claim that she he maintains. And through predictive maintenance through. Numerous services that they can offer customers. Can create much more value going forward and that's. Future gold mine bitchy he's trying to harvest is made good investments and to get them now. But the payoff has been slow to comment that that's the estimate of growth story. In trying to get into those areas there's obviously a lot of competition to hire the right talent. How much is GE gonna have to pony up for that that kind of talent because I would imagine a lot of either give kids at a college or people in their twenties and thirties might say. Hey look I can get better offers Amazon or Google and we don't know your company's gonna be going anywhere. I think you're right to which a finger on talent is an important challenge. And I don't think it's about salaries though is that the heat he's able to it recently competitive salaries. The talent or four engineers there's software. Folks but they and other things experts there that it doesn't need. It's really more about. How cool is the work at going to be able to work on my gonna ditch them options and a growth company. Yeah that was pretty engineers to work or school or Tesla. What you wanna work preachy. And I think they're they have not. Exceeded. Even when statement they tried to have operations in the Silicon Valley to try to tap into that pool of talent. But they didn't. Set up at the heart of Silicon Valley is that it is Silicon Valley. In the uncool area just to have to give an example and and so that is of course it will from Connecticut is posted to this article it would create. So there are some moves that will help. I think the real problem is not that he will be bankrupted by years as bad predicted to be here for a long time you is that getting the top tier talent. And you really going up against the Amazon and the test and it as a heartfelt achieved. Read it and they don't seem like the kind of company that's going to go out of business but the question is can they grow. And continue to provide value for both shareholders and new employees who are looking for the right compensation Vijay we appreciate the time thank you for joining us. Absolutely that is Vijay about this warrant from the economist talking about GE. It in its future is a company and that there's no doubt that it is a company at a crossroads right now are and we've we've seen this in a few different cases where. Companies after reinvent themselves sometimes unsuccessfully to take a look at Cisco Systems they spend about fifteen years count about the wilderness trying to find their way and if they they're starting did make some progress there. But it was dead money for effectively fifteen years SE IBM in the same boat. Now company that was able to make the turn successfully is Microsoft Microsoft I look at what they've done in the last five years. And again this is a company that kind of the same boat as GE hey we've we've got these legacy platforms and that money. We've been able to turn the corner and we figured it out so the question is is GE getting to the right of Microsoft or IBM. We'll be back right after this break from the financial exchange radio network. Like this on FaceBook and follow us on Twitter. Show breaking business news is always first right here on the financial exchange radio network. 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B 900 find out why many of greater Boston's premier property management and real estate companies -- leader bank as they're banking partner call 8776917. To 900 or email BB EO 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 but I don't Berrian jug right here on the financial exchange radio network. Not a whole lot of movement stocks today so we're actually gonna skip right through the Wall Street watch segment and go back to what's really important which is Turkey. The poll question that we have up right now on financial exchange showed dot com is what is the best way to cook a Turkey. We've got four options there beat. Deep fried smoke or other. I don't get a couple other responses that have come in people of Texas as well. One person butterflies and reels it in less than an hour. I didn't know that that was thing but I guess I guess that idea I just don't know how to meet caught taller through but I've never tried so I guess he bought her flight it's thinner. You know nothing Albert. A bigger hole that marriage round numbers I guess I get a second person who said they do it on there there Weber charcoal grill but again head over to financial exchange showed dot com. Invoked on what the best way is to what to cook a Turkey what are the poll results so far talker. Yes so far in the lead is at peak at 57% deep fried said 121. Percent smoke Iran it has 14% and other which I assume is the growling. And 7% one question that I had just as I was near as we put this together today it is the rate workers roast. Bet it's it's baked out it is I know I've struggled with that. I think you can use those in interchangeably but what's the difference between baking something in roasting. Roasting pan is one of those questions like what's the difference when you were a elite and they pond. Lake and pond there's actually no difference by the way but I think yeah I think roasters for a long period of time has meant the difference or. I don't think there's much of the difference. I don't know them enough to do some research over this this holiday weekend so I've got my work cut out for me to get into the squares according to Google if you're cooking food as a cell structure like ain't at the meter vegetables no matter the temperature of the of annual roast your cooking food that hasn't already solidified. You'll be baking stones like roast on sodas are. But we also learned yesterday that Google's quick search results can sometimes be inaccurate and later when you do little to date fair. And noble figure out actually edged there again head over to financial exchange showed dot com. And vote in our poll question of the day what is the best way to cook Turkey. We followed up with this a little later on in the show. Jerry Jones. Withdrawing his threat to sue the NFL. Yet Mary emailed me this morning Sid told you so Benoit. Which I don't know what he told us he did tell us that Jerry was going to back down. He did tells the jury was going to back down to half I mean. What what dean did Jerry Jones had here I'd currency fell down. No possible way he's going to win a lawsuit and there is no nothing this would of done except. Creative further divide the FFL and declining viewership. It was a lose lose for Jerry Jones but given his personality I thought he was gonna go through with it I'd do it and as I've said. You have a league that is declining ratings two years in a row when those ratings are the basis for about 60% of your revenue. Why would you rehire Roger Goodell fifty million dollars yet like there's a good question yes there is Roger Goodell the best person for the job. And look John's article form. Did you know the compensation committee did he's not on the top agency which his whole thing which he's saying oh all these other owners don't get Hussein's. Even though they voted to allow the compensation committee to do so yeah. This is this is what billionaires argue about is who's on the compensation to them. You know. But. I did is a very effort I mean yeah you've got to do is make the caseload decline but what has Roger Goodell dawn. What has he done in the last couple years to benefit the lead and more initially the readings are through the roof but since then he's damaged the league's. Reputation. What is his tenure and it treatment when the chase started in eleven wasn't there may be ten. Somewhere that ballpark yet the ratings were. Absolutely through the roof and yet the lead a ton start in 06 and a realist in their eleven years almost six relief he started an oaks and asked so he's been there eleven years at this point so yeah you can look like the first five to seven years and say okay that we grew significantly then. The ticket the things that he's you know bungled over the last 5 years aria concussions. Evening with a concussion thing up late every owner has responsibility yet vale do you know he's he's the mouthpiece but you regulate what's happened with the Tom Brady situation is what happened with the Ray Rice into an extra 22 and a half million dollars on deflated football's pay now they're gonna gets fifty million dollars just on him. Yeah. Just don't waste of money across the board as of late and it initially it was. Brees threw her I just think for fifty million dollars you could find someone better than Roger could not easily against it's not a stretch to think that you could find someone slightly more qualified. Ultimately do the job for you give me a million bucks a can and do the job did you read that they actually gauge Adams Solarz interest. Adam silver is phenomenal he rejected immediately at a silver for not familiar with the. Is beyond the commissioner of the NBA and I think that everything he's done with their online media strategy. Has been outstanding I think rob man for has done a good job at the Evian will be met as well. Quick note on behalf of leader bank. Fear in the market for small business loan you need to cult leader if your small business looking to expand or improve your infrastructure. You male leader bank. At BBO. At leader bank dot com leader bank is a preferred lender of the SBA. Maintaining a diverse suite of SBA loan products that are designed to help businesses grow. Take advantage of leaders expert local decision making. Which along with a streamlined process enables fast turnaround all the information you need is available by emailing leader bank. At BB OO. At leader bank dot com that's BBO. Leader bank dot com or you can call them. 8776917900. That's 877691. 7900. Liter bank is here to help you grow your business so email or call right now and utilize the SBA loan program. Leader bank member FDIC. The FCC appears to be set to try to roll back to net neutrality rules. And this would be a big win for cable companies and wireless. Yeah Verizon AT&T Comcast all of them would be pretty happy with this I'm. What is net neutrality to get this folks who don't understand what the doesn't mean so let's go through what it technically amusements go through practically how it's applied so. Net neutrality is just the idea that you cannot favor one. Use of the Internet vs the other so it right now you know the Verizon's in the eighteen tees in the contest the world cannot say okay. We are going to send more bandwidth for people using Netflix and lesbian with for people using FaceBook or any other combination of those. They can't speed up for slowed on the Internet for any different web sites or applications they use the Internet. Under these. Scaled back Nat router or eliminate net neutrality rules you could do. So you could say all right well if you want to use these five applications. Deborah Tate charger a little bit more to be able to use the bandwidth or they'll go right to the content creators say look Netflix using a ton of our band was we're gonna charge you double right in ordered to blog go on our network and here is a pretty good examples so Portugal. Does not have net neutrality rules the country of Portugal has no net neutrality rules if you go and look at their you know wireless plans if you go look at their Internet packages. You'll see that you have to choose from the types of applications they use. So they have it was a right they have messaging packages they have streaming packages they have sports packages. And depending on what types of applications you use on your phone or your computer. You need to select one of these packages or a combination of these packages to actually use the Internet the way you do today. Well and so here's the question that this this raises so. If you operate in a market like this where there aren't a lot of choices for consumers. You don't really happened at a customer does have the ability to switch easily the right Comcast says gee you know what. Netflix you're chewing up all our band width of all the video that everyone's watching that everyone's watching oranges the new black and everyone's watching this not. We need to charge you more in order to stream your service well. You can't necessarily go and say hey im gonna switch over AT&T I'm gonna switch over to Verizon because they might not be in your area. And so you preach it creates a lack of ability for consumers to go in and you kind of move. In the that concerned then is okay. Netflix is then gonna pass that extra cost on right to you that they're gonna passed on to end user. And so it starts a situation where because you can't go anywhere else cost start you know spiraling up or. You can even an up in situations where certain content may be deem prioritized. Just because of the type of content that it is it allows. A in Internet service provider to potentially say gee I don't like you're content because of how you are. Politically set up and so I'm going to deep prioritize your content. Yeah or this this does go back and I think. To be fair to these companies if they do something that is very clearly based on politics based on. You know religious beliefs or anything like that I think they'll have lawsuits at the union I don't think there's any of that to watch nothing illegal about I I understand but I think it does there's nothing illegal about you discriminate against a website for religious reasons. How we discriminating. Slowing down their Internet speed you wouldn't say it's because of religious reasons I understand you guys say hey you're content more expensive for rested to move for some late. There's plenty of ways that they can phrase this again I had I understand I do think if it's very clearly for reasons other than just. It costs that technology and there will be lawsuits I think this goes back to widen much want to out price rise and on right I I don't. What why do we of of all the people that we can trust. We want to trust Verizon and Comcast to make these decisions for us. The that's. I I just I find it hard to please an awful lot of faith in in those companies because we've seen how bad the service can be like is they don't have any competition and so my view is look you want a roll back net neutrality rules. Great break of the big telecoms I want 810 different companies that can compete locally in a behalf of that. A great debt ridden a net neutrality new you have open competition but if you only have two or three. And a man like where where we and what what are we talking about here that there's nowhere for people to go. And again going back the AT&T the Time Warner deal here's where you start to have some this concerns that you discussed yesterday which is okay if there's no net neutrality. Then AT&T you can very easily say OK we are going to speed up your access to all our Time Warner programming. And slow way down for anything else that. And say okay you want to use Time Warner programs then it's three and if you wanna use any this other stuff that is going to be in charge yet being. Like what is the odd death by Amazon index and the death by Amazon index is say interesting index. Some anger 62 brick and mortar retailers whose businesses have been hurt by Amazon and just Internet shopping in general. Pretty into using a different indexed yet and. In what these companies since September 2015 this index has lost about a third of its value. While the S&P is up about 15%. Right so these are companies that have you know really struggled. But in the last couple weeks they've shown. Some signs of life for summary wait what why would you be buying some of these companies. Well I mean I think a lot of it has to do the shopping season people are looking at numbers well. Differences we just got a consumer sentiment this morning consumer sentiment was higher than expected. 98 point five vs nine DA expected that doesn't mean people are going back to footlocker I understand. And I had you know I I'm not saying that this is their right IDF this industry but since the month of October. Assuming that the since none must remember the index is up five point 3% while the S&P 500 is up zero point 9% so I think what this tells us is that. People are expecting -- pretty good holiday shopping season and they're expecting. Traficant source. By the way the named walker like you you think about it and actually think about like this week but why would I go to a store named footlocker. Thank you it just sounds and it's never really thought about it and most people don't but I heard just now. For sounds like Jim Rogers sneakers are barely you just go in there is about two feet. Especially if he does that just does all like it you just picture like it just it doesn't sound to attract don't doesn't it's not appetizing dish rebrand. She locker. Really you're gonna happen sneaks or via lake sneaks for your feeder some food I flew Alex foot locker sounds like had Athlete's Foot treatment or like whipped up. Or waiters Wear your feet go when they've been bad. Once you go down to the law Pollack the stretch. What president tried. According to take a break and when we come back we're going to be talking about a possible a nurse's strike at tops. Coming up up prior to the the Christmas holiday that's coming up right here on the financial exchange radio network. The financial exchanges all over New England to go to financial exchange showed dotcom and search for the station closest to you this is 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 you're 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 kick 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 in Cushing and Dolan which has been helping families like yours that there are state planning and he can help you to. Call right now to get tugs new guy called asset protection strategies at 8668485699. That's 8668485699. Or you can download the guide break now from our website legal exchange showed dot com that's legal exchange showed dot com. Are you financial advisor who lacks formal succession plan you're not alone according to investment news 43% to financial advisors are over the age 55 and many have no contractual agreement to care for their clients once they retire hi this is very are strong and we might be interested in buying your practice you worked hard but now it's time to find a successor the -- -- 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 -- become accustomed if you're interested in talking with us please call me at 803934. Zeros or one that's 803934001. Or visit us online at Armstrong. Advisory group dot com securities are for to securities America incorporated member SpinRite SIPC and advisory services are to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Hi everybody it's very are. Strong and potluck ski from the law firm Cushing in dole and we're talking today. About that state and asset protection strategies. That can help reduce or limit New York State taxes. But 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 if they don't have trusts in place I'd certainly can't be certainly depends on what state and to be live in you know I'll let him say jail if if if you if you have assets and you can't each state has their own exemption. You know like the federal exemption amount is 5490000. Dollars you can pass that amount. And state tax free to anybody you want. In any state. But a lot of people say oh we don't have that kind of money you know but. What you forget about is the states. A state tax system very they have their own system. And each state has their own exemption. Which can range from you know a million dollars to 201000005. Is around here 2.5 million you know and then some states don't have any. State tax the only one in New England doesn't have one news New Hampshire that's correct New Hampshire the only one in the in New England that doesn't have a separate state the state tax. And so the goal is by doing basic estate planning and using trusts you can double whatever that's data exemption amount is thereby hopefully eliminating. Voluntary estate taxes. Up to whatever that exemption amount is double. Request your copy of Todd brand new guide it's called reducing and eliminating the state taxes. You can call and receive the guide the phone number 8668485699. Or visit his website it legal exchange showed dot com net. Legal exchange showed dot com or call poll free. 8668485699. The financial exchange for Barry and chuck is alive on FaceBook and YouTube every morning beginning at ten this is the financial exchange radio network. Okay. We know that many who have jobs keep you busy all day long as we've made it easier for you to catch up of financial change when it's most convenient for you. Just download the I heard radio app on your phone or tablet search the financial exchanging on access to all of our content including individual segments and full shows. The the nurses it tops the they struck earlier that struck they went on strike north went on strike went on strike and that they went on strike earlier this year. Chad are starting to build that they may be planning another strike. For sometime around Christmas though the official spokesman of the nurses union not to comment to. They're not commenting on its they'd have to vote to authorize this and the union has scheduled the vote so I think we're still in the very initial rumor phase. The idea that field a tough time. It would it would be an end look I've been of the opinion one of the major points of contention here. Is the the pension would leave the hospital wanting to move away from. The defined benefit pension more towards a mere traditional for a three B 41 K type author and and I say look to the nurses this is your chance to dig in you are it is very difficult to replace you. And this is one of the few opportunities that you have to be able to maintain that pension which. You can't really get anywhere else that you go right and so to be able to hold onto that you know no limits mobility of workers somewhat but. Look it also takes all of that burden for retirement. All of you would place it on those pension managers and so from my perspective. Get trying to fight for that pension. Aids is they have the leverage and I think they should be holding firm on that. Oh and I and I heard in their camp on we're diners for tasks I beat fight tooth and nail because you're actually right that they are in high demand and tough to replace jokes. Aid get paid white camp. And that's my position and I'd. And not trying to advocate harming harming people that are in the hospital that's code doesn't think it again or they get nurses they get Dempsey come in. But I eight. You're in high demand right now so sick typically can I actually. Back committee there initial strike action spoke with one of the tops nurses and I got an idiot I got the vibe. That they were pleased whatsoever with what came out of that strike ending really yet they felt there was no movement not really. Sell. This. Rumored as a really surprised me. Interest interest in yet again this has been eighteen months now lately these kinds of disputes normally don't last as long they've had mediators in which normally are helpful in the situation. But it continues to. December here quick circling back to a conversation we're having just prior to the break about the other term footlocker. I have been informed and that was somewhat aware that it's a term off from the military which is near typically a that chest down at the bottom of each bond market. I understand that I just think if you. If you're trying to bias you know something nice fears like. Locker can't I think like meat clock registered public about to be hanging in a story just doesn't sound. Apatow it doesn't sound nice not to mention they don't sell anything military related so goalie have to stuff the songs like baseball. Basketball. Sneakers or whatever air jordans rightly not hurt us a little bit more satisfied with the name the company idea stand up. The for a lot of it makes more sense at least. Let's also go back and talk about our poll question today up on financial exchange showed dot com right now. What's the best way to cook a Turkey it's about time we gave our own opinions here I think. I MI and team beat urban broached. Roast breast what do you know grossed team roast last bake I had a great deep fried Turkey last weekend. I thought the skin was good but occasionally the meat can be kinda hit or miss depending on if you if you cook it just. Yeah I I guess I'm following on deep fried but I would have to say that. The best deep fried Turkey I think he's in the best baked roasted Turkey boob that's a good get nuts on average people screw up the diesel that is the ceiling for deep Fries and I activists and or is also lower I had a deep breath for the first time a few years ago I wasn't too pleased with the united. Way prefer. The roasting or baking method. And what one of the ways that one of my uncles that he would make the Turkey all night. 200 degrees I'll always show you a wake up and smell the Turkey up that's that's it. Not a bad way to go of always I was surprised notes that actress smoked jets' interest in America ever smoke in Turkey I finally got a smoker. And it gives smokers on the going to be and I think it's low blood just most here turned up in his room track next year it's treated and introductions over rated a chip in on that don't. Until the time that we have for this hour of the financial exchange thank you very much for listening for Tucker Silva Michael Armstrong and chuck is out of we're back right here on the financial exchange video 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 of 55 and many have no contractual agreement to care for their clients once they retire hi this is very are strong and we might be interested in buying your practice you worked hard but now it's time to find a successor the -- -- advisory group is a regional firm and we are looking to grow our business through acquisition we will consider both are hiatus and transactional oriented firms with a solid stable of young advisors who put your client's needs first and provide them with -- service and attention to which -- become accustomed if you're interested in talking with us please call me at 803934001. That's 803934001. Or visit us online at Armstrong. Advisory group dot com securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917900. Workers at leader bank dot com. Your dream home is within reach with a Jumbo mortgage loan from leader bank their jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by leader bank's local underwriting processing teams traditional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Maverick DNC equal housing lender and Miller is number 449250. Subject to credit approval leader bank a step ahead there are many benefits to early estate planning among them tipping your assets out of probate and protecting them from the nursing home. But did you know but you also might be able to eliminate your estate taxes every week on the legal exchange -- -- educates his listeners by telling them how to protect their assets last year is an expert in elder -- taxation and a partner with Cushing and -- 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 -- leads an experienced team at -- -- -- which has been helping families like yours with their state claiming for more than thirty years call right now to get -- to new guide called asset protection strategies at 8668485699. That's 8668485699. Lead time the team at -- 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 latest guide from the Armstrong advisory group the seven signs of a stock market correction. Mike what are the concerns that people have out there right now is that geopolitical situation can you talk a little bit about whether or not this is something people should be concerned about. Well I mean. Always be concerned about it especially you know it it seems that we've got rising tensions going on in North Korea I don't like forcing out of Russian China but the important thing to just keeping your back your mind. Is we always have big geopolitical tensions whether you know whether it be the gulf war over the war in Iraq and generally speaking the market is pretty resilient that doesn't mean that it won't react to some unexpected events. But don't you know don't base your entire investment these it's just not what's going on geopolitical scenario with these situations. The important thing isn't necessarily the react after they happen but to be prepared in advance absolutely and so you know as that goes. Make sure you reviewing the objective observer of your portfolio is this a retirement portfolio that you know can be using for twenty years. Well so you really shouldn't care about the day to day geopolitical events going on but hey if you use in this portfolio to may be. Fund your kids' college or buy your next home in the next three years and yet you need to have a much different philosophy and much different investment. Objective than if you're looking at a twenty year investment time horizon. Folks the guy is titled the seven signs of a stock market correction it is available for free from the Armstrong advisory group. And all you have to do is call 800. 3934001. To get your free guide or visit our strong advisory group dot com and you can download it. 803934001. Or available for free at Armstrong advisory group dot com. Securities offered to securities America incorporated members Jenrette SAP C and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buyer gold locally we just make sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader backed. A step ahead -- seventeen has been a banner year for stocks but many airports still caution investors to prepare for a correction while some out there may be fearful of a correction I want you to be ready for one -- 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 to get right now and Armstrong advisory group dot. Tom securities are for two securities America incorporated member finreg SIPC and advisory services are -- to 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'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out -- bank is offering in -- savings account providing free online banking with a one point 15%. Annual percentage -- this is an online product only and there -- no minimum balance required so log on 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. And if. This is the financial exchange with Barry Armstrong and chunks of I. You're exclusive look at business and financial news affecting your day you're sick leave your world and stay. Informed and up today to promote economic and market trends plus get breaking business news every day. And now the financial exchange with Gerry Armstrong and sharks done us. They've they've before Thanksgiving here and would get a couple stories one that dropped last night that we're going to be following up on. As well as a couple that are continue to make some news today. But it. We'll start off I think with the story. That that did occur late yesterday. That is the story that came out of Hooper with the seven million accounts apparently being hacked last year and has owing to being notified about it today. Tucked out of Mike Armstrong and talk Silva here Barry Armstrong out for Thanksgiving right now. And Mike let's let's talk about this Hoover's story simply because. This year. Bears repeating this sheer callousness in stupidity of it is mind boggled it is. It is and I a it and effectively you had 57 million users. They had their information stolen last year not Social Security numbers or anything like that but names email addresses addresses and things along those lines US 600000 drivers that also a driver's licenses take. And over instead of notifying anyone about this decided oh we can handle this internally we're gonna pay the hackers stole all our data on 2000 dollars. If we think that's a good idea. And they promised that they're never gonna do anything with this data because hackers to really dependable and you can trust your local community hacker. So they paid off and then it. He revealed huge issue here we don't hear about it for a full year they didn't tell anyone in this is something that new CON and the CEO and covers that says. What are you idiots doing we need to disclose this to the public and finally it happens I wonder if even shareholders knew about it. You've got companies like Fidelity Investments that don't 5% this company. Did they get informed about it. And this is it's not like no win at the company knew about this their chief security officer Joseph selvin. Was fired because he knew about this breach and effectively this is the direction he chose to go. Like when your chief security officer saying the best policy is to paid hackers and not tell anyone. There's there's a problem and so. This what happens when you build the company start up company nudist and list all year. Fraternity brother friends two run I think. Beauty you get issues here and I don't know anything about the chief security officer making some broad judgment that may or may not be true so let me take that back but. There is clearly been a lot of cultural issues here and see this as another one that data breach itself was a big issue but the cover up is one is going to sink this they took the easy way out. There is exactly that they took the easy way out instead of doing the right thing and you you look at the the myriad issues that they have had. This year they've had all kinds of sexual assault problems they've had drivers assaulting passengers they've had improper background checks being done. They've had situations where they were properly compensating drivers for their time on the clock now they have this data breach there is no part of this operation. That his BOB and above water. Rather they they have effectively taking the easy way out and every situation and their catcher shot he's number one goal now as CEO. Has to be to restore trust in this company because right now from my perspective. I don't have any trust in this company to do the right think they've proven time and again. They don't care about their customers they don't care about their employees and they don't care about their contract. Over I had driver I'd think long and hard about traffic report. Right usually I sit there and as stop me if I don't know where I left and I sit there and I say but I'm going right over to lift it. Easy for me to do. Britain or news or I guess happier news depending on who you are. Massachusetts getting one step closer legal marijuana funny or news that is that if this fits freezer coming home to roost or something like I and. So the the goal here is to have a plan file by the end of the year there's a lot of something to Wear work out your ray is tons of details spelling out you know who's gonna win dispensary license. They're going to be mayor wanna consumption bars ray like. Pars but for marijuana so we got here at how those work how they operate with the regulations are around them. And then I guess one of the goals here is ensuring diversity in the industry which they figure they're going to be that as well so. A lot of stuff that I think I haven't heard anything about over the last six months and suddenly the same noted it was all done by Yi Iran I have my doubts. The idea of the candidates control commission saying they want to have initial regulations proposed by December 29 so they can have official ones done. By march 15 and that sales can actually begin on July. First that's the goal here. So obviously a lot of work to get that done. But yeah this is he's something that you know they do have to go through this process in order. To allow people to you know buy and sell marijuana. Legally in Massachusetts starting about seven months from now right. You don't think they're gonna hit this deadline. And it made it may be camera. They just I don't I'm discouraged by the fact I haven't heard anything about them working on and maybe they're just trying to keep everything quiet and under wraps but. I AM we haven't talked about this on the show in 34 months and it and. It's just coming up only we have all these deadlines coming December 31 march 15 and April 1. And I would have thought we heard a little bit more about where they are on the process. Now. Let's talk a little bit about the eighteen tee Time Warner. Merger lawsuit the the DOJ suing to block. This merger here. And it sounds like some people are saying well there's some reasons why this might goes through but there's others why it might not there's not a whole what clarity on the yes a lot of that. It's falling on different sides of the different sides of the coin here however you want to phrase it a lot of different experts are. Taking different positions on this so it's going to be pretty entries and see how it shapes out. And again the real. What makes this. Merger so much different is its vertical they are not taking out their competitors they're not saying okay we're gonna go by Verizon or T-Mobile or sprint AT&T is saying we are going to go by Time Warner which provides content which AT&T doesn't do today. But the Justice Department saying yeah but if you own all these content provider as you go to Jack up prices the fact of the matter is that isn't just. Actually go against with the FCC is saying with with them trying to get rid of net new trash the exact same time yes it is easy saying hey by doing this you can have more competition. Like you're getting different messages from different parts of the government yeah. And I don't like that and then I mean just to give a general idea for you vertical. Vertical. Mergers and acquisitions the last time. Justice Department one of vertical case was back in 1972. Involving Ford Motor company's acquisition of the company that makes sparked sparked blogs. Scott metal walls and collect 45 years that we have to find the last time reality is done I mean they've challenged him in the past. Possibly challenge it was back in 79 and lost. You know. It will see where it goes I think. That if net neutrality was already in place that it would be a much easier argument for the government but seeing as how net neutrality right mint net neutrality still exists. I think it's a lot more difficult for the government argued this hurt consumers. Let's move on now to wild one of the really important questions that we have as we go through life. And that is the question of Turkey and specifically the Turkey that you're gonna be eating tomorrow. Deal. Turkey obviously the foundation of Thanksgiving you know you can say okay it's the stuffing mashed is that okay it's it's it's Turkey don't cook you know fish on Thanksgiving you don't cook. You know tofu Turkey on Thanksgiving you you bring the real thing. What's the best way to cook this is our poll question of the day that's up right now on financial exchange show dot com what's the best way to cook Turkey do you bake it. Deep deep fry it do you smoke it or. Something else other if you have an in any other opportunities. Or anything that you prefer you know Tucker what do the other results. We're getting today yeah results so far here shocked baking roasting. As in the lead of 55% in deep fry is in second at 242%. And then tied for third or last doses 11% with smoke. And other in you know we seem. Multiple cooking methods in grilling in rotisserie and the other categories that talking in grilling. Yeah action. That's shocking as it word for butterfly and always on schedule fancy. Much to collect our attacks today and come up I guess that's technically makes a phenomenal cook at that. Syria rose things in the lead no surprise there mixing it over to financial exchange showed dot com seek invoked. We're gonna take a quick break when we come back we'll be talking about how much IKEA furniture that has been were called. You still out there and potentially dangerous that's coming up right here on the financial exchange radio network. Even without health care or tax reform the markets are surging get the latest info on the sectors that are winning and those that aren't right here with Berrian chuck on 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 X but we -- 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 are for two securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. And he spent the last thirty or forty years building your financial planning business he worked hard and your clients rely on your. But what about when you retire you have a team of dedicated professionals who will care for your clients in the same fashion as you do every dot about a succession plan for your clients our firm the Armstrong advisory group is a regional firm based in Massachusetts and we are looking to build our business through acquisition. We are affiliated with an award winning broker dealer RI AA and we have superior service capabilities we work with clients and all six New England states and of offices throughout the region making it easy and convenient to set up meetings if your interested please contact us through our website Armstrong advisory group dot com or call 803934001. Our advisors have over 100 years of combined experience in the financial services industry call us today at 803934001. Or visit us online at Armstrong advisory group dot com securities offered to securities America incorporated member and SIPC and advisory service is -- securities America advisors incorporated Barry Armstrong represented at arms -- advisory group in the securities America companies are. -- -- hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage -- this is an online product only and there is no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice and don't delay log -- 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. To vote on our daily poll question. Had financial exchange showed John come up while you're there fire of the media player and watch the show while you work. This is the financial exchange radio network. This segment of the financial exchanges brought to you by a leader bank. With the leaders of my rewards accounts you are in an absurdly high interest rates get 1% cash back with debit purchases and an extra 10% back. When you use your card at featured businesses. To qualify for these and other rewards. Hallway to bank 877. 6917900. That's 877691. 7900. Customer must meet eligibility requirements to receive Zuma rewards contact leave bank for complete details member FDIC. I Keogh had surmise some some furniture recalls. In the last your tournament when this is on the sentence he's an alien alien yeah yeah. These recalled piece of furniture are still out there. A lot I think it looks like only one or two million eventually come back. The recall notice been out there since 26 teen. If you're in the S and Canada. The MA Al and the moment dressers and chests as well as some other furniture lines. We're not compliant with the these are voluntary safety standards it's killed eight children. These things have fallen down these people have not been. Securing them to the walls anchoring these products and it's killed eight kids. Right where what happens is that the the kids on these dressers will start climbing on the drawers yes I know and effectively. The furniture will tip over on them and so what what Nike offers and what other companies offer. Are these wall anchoring kit suit pretty much a set of screws and and guides. That connect the top of the Dresser into the wall exactly so that the with a weighted the kid doesn't pull it down so. So I actually discovered that I had one of these bureaus like. A couple months ago. When I was. Moving out of my place idiot so is trying to sell so I was trying to sell this bureau put on FaceBook marketplace for forty bucks down and it's some really nice person reached out to music hey I think this is one of the recalled purist receive now owe interest on it while release and looked it up sure enough was. And hazard they said target back and it will give you a full refund. Brought back was beat to hell where its practice all of our media tour. I bought it in Nam 2009. Here is that eight years now and it gave me a 190 bucks back into a closet as you go result all but they. I mean I guess the key here is beware because IKEA in a lot of people's opinion has not done a very good job publicizing the fact that these so recall notifications on them and so if if you have bought IKEA furniture in the last few years take a look go online check the serial number and see what needs to be done they are even volunteering to send people out your home to secure these things that wall to make sure others say. Especially if you have young children and homes take a look at your IKEA furniture and they screwed up here. What are they require these brackets to come with play just as they do now they do a reality personal fine Oka says that they they are required at this point. Oh yeah. Is it seems just a basic safety thing it probably does add more than a dollar to a cost to the entire right now I would imagine the bigger problem is people being weighs in on. Take steps to action secure the wallet takes another you know ten minutes to drill hole right and waited and then but I mean I didn't think of it. But Nam and come with anchors are getting when I bought its as I recall that there. The the headline from the Wall Street Journal is. Terrified. Why your flat screen TV would cost more of NAFTA and what what what's the rationale behind. Well right now I'm first off pretty much all the components and flat screen TVs are coming from Asia who we do not have. Any of the facilities set up to do and like any of the that the glass swearing in the small components are all done in Asia then they are shipped the United States to go down to Mexico and there assembled there. And so if we have some changes in NAFTA in terms of the amount of stuff that needs to be sourced from North America or even the United States and assembly goes over to Asia. Then that assembly discussed Asian tire early in receipt tariffs on the products. And I am because there's just there's nothing set up right now in North America to be able to manufacture these televisions now longer term you could see that change but right now. We do not have a single. Television manufacturing plant in the United States and those don't get set up of. You know when I was amazed at the Americans by forty million flat screen TVs a year. There's 320 million people knew this 320 million people in the country multiple rooms or. That actually adds up to me. How because people her place and he's very frequently. Why what about all the bars and restaurants and having to track. OK so you call those that there's a 125 million households him in the US. Army bars and restaurants do you think Earl. On its equipment that these. And ought who's going to be most embarrassed by how wrong them before anything up how many how many restaurants in bars do you think there are in the ones. I will venture to yes. 24 million. Biggest three million. Cheese. I gotta go 1010. Okay a year ago this is from statistic dot com. And it appears that I need a premium account to get in that it was not able to look at let's let's see if I can find something else. OK got employment I've got that the none nonetheless I mean yeah we need to we need to figure this out this this is important. This is this is really important to figure out how many bars and restaurants are actually in the EU us. Let's a year ago. It fault when he sixteen Americans were 621000. Restaurants in the U that's that's that's just restaurants now. It looks like there's another 200000 bars yourself says nothing. To read it and if you're so high I guess you thought everyone was going out every night. Like you know on what I was there it's like. I don't it doesn't bear ten million or so I support so my credibility was it was still hides it's about 800000 overall I was Samie Texan what about hold to forms. Radio nipped. How many hotel rooms there are now now we're point four million. I it's a huge number forty million but I mean I guess you think about it if you got a five year old TV these days that's pretty old television. I've had the same flat screen since 20062005. As to whether you Leo old TV they're on demand there are just north of five million hotel rooms in the United States passing out this is according to the the a census from some company that does reporting smoke though they there's about five million or so forty million flat screens Steve gets a year action does not surprise. I don't know that's a lot of TV it's like. We by too many TV's reality that it toleration but I think in the last ICP with I just got that bathroom at that. Number sir it's going down. How come screens they use in on year Smartphone. Your iPad I think the deterrent for a television Israel though substitute for the beat TV agreed but he O'Neal I think don't report people only want one upper house now nothing rots your brain better than just sixty inches of MTV and for me yeah. Oil prices jumping on this Canadian pipeline disruption to the United States. Yes so we saw the big spill eyes and was South Dakota earlier this week 5000 barrels spilled and and today there's some real questions going forward about. What is going to happen with the keystone as well as the keystone XL pipeline Nebraska just pushed through approval of the keystone XL. Really just days after the big oil could be leaked down in South Dakota and now. Really calling into question as to whether that's going to get built and what is going to happen with the existing keystone pipe. In general when we look at pipeline infrastructure it's it's one of the major thing that's lacking up here in the northeast we've talked about the way to do especially on the natural gas side yeah we simply don't have the infrastructure to get natural gas to where it needs to be. Up here in the northeast there it is no viable reason. For us to be bringing in LNG tankers in the Boston Harbor. Because there's there's plenty of natural gas that we can get it ship it up for Pennsylvania but we don't the pipeline capacity right this is different issue with. You know oil coming down from Canada. Because a big glut in now the Canadian oilsands right now they've got a lot of well that I have a tough time moving because. The pipelines are shutting down in new ones are not getting approved all that fast. And what's interesting a lot of these oil fields up in Canada they're still producing at a loss right now yeah just because they're trying to keep the casual minority keep BO. Be be able to not default on loans that they had Wright not to start a lot of these wells and operations so you've a lot of these facilities up in Canada that are losing money hand over fist producing oil at the moment. And so for them a little bit of a bump in price. Isn't the worst thing necessarily the problem is they've they don't have the distribution via NASA that there was now a little bit. On that side yeah I gotta say he gotta worry about the future these pipelines the this. This oil spill in South Dakota was the third spill on the keystone written a decade that's. That that's pretty statistically significant. Melamine is in the broad scheme of things we know the pipelines are still the safest way to transport redo hey you're you're right and that is still going but. The problem with these is when you see a big pipeline spill it is and it is being you know when you see no doubt about it a truck spill issue trained. And I it's usually not as huge as we see a day. Oil pipeline to go. No doubt about it. We're gonna take a quick break and when we come back. Will be talking about ways to avoid shipping charges if you're buying goods this this holiday season right here on financial exchange radio network. 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 buyer gold locally it just makes sense of leader banker called and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency not guaranteed by the bank and may go down in value leader bank. A step ahead -- seventeen has been a banner year for stocks but many airports still caution investors to prepare for a correction while some out there may be fearful 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. You work hard to build a strong portfolio that's worked to keep -- call 803934001. We can download got right now Armstrong advisory group dot com. Securities are for two securities America incorporated members Jenrette SAP C and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated and he spent the last thirty 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 payments and making trips to the bank to deposit checks ticked past a lot of red day we're zero leader banks all mine rent collection tool zero automatically deducts tenant's rent and deposited into your account visit WWW dogs he ran dot net to learn more when you rent your payments breach 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 net 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. Give tax. A 100000. Dollars for the government if they don't have trusts in place I certainly can't be certainly depends on what state and to be you know I'll let us say only if if if you if you have assets and you can't each state has their own exemption. You know like the federal exemption amount is 5490000. Dollars you can pass that amount. And state tax free to anybody you want. In any state. But a lot of people say oh we don't have that kind of you know but. What you forget about is the states. A state tax system rate they have their own system. And each state has their own exemption. Which can range from you know a million dollars to 201000005. Is around here 2.5 million you know and then some states don't have any. State tax the only one in New England doesn't have one news New Hampshire that's correct New Hampshire the only one in the in New England that doesn't have a separate state the state tax. And so the goal is by doing basic estate planning and using trusts you can double whatever that state exemption amount is thereby hopefully eliminating. Voluntary estate taxes. Up to whatever that exemption amount is double. Request your copy of pods brand new guide it's called reducing and eliminating the state taxes. You can call and receive the guide the poll number 8668485699. Or visit his website it legal exchange showed dot com net. Legal exchange showed dot com or call toll free 866. 8485699. We Health Care Reform seemingly dead for 2017. Trump has said the push hard for tax reform Barry and chuck have the latest on how any changes might affect your portfolio for your financial strategies only here on the financial exchange radio network. Time for quick market update the Dow was off 48 points the S appeal to the NASDAQ off one right now. Stephen back. At yesterday's gains the moment but still a market that is in positive territory for the week right now. Might be done your Christmas shopping avenue asserted not not one bit greens are thinking about going and asked me. Tucker you started your buildup and I'm done. I'll stop your undone and how are you John has I was so late last year that all of my gifts rightly in Susan. I'm just used him this year nothing stated. Now. When you missed it this concert tickets for June probably can't give you probably not but I know I have left over gifts from last year the came late and so I'm I'm rolling them over to this year. So spurs guard. Don't tell. I quote Mike the reason I bring this up is that a lot of retailers this year and at retailers but a lot of shipping companies. Are charging surcharges for packages shipped during peak times EST UPS obviously the big one here is. During a surcharge on any packages that are shipped from November 19 to December 3 and then again. They'll be doing another surcharge in mid December I think maybe the seventeenth the fifteen to start doing lesser charge. So you're likely to see this in a few different ways. I think some shipping area some online retailers say OK well we will still provide our normal rates for shipping for two days but if you're willing to wait. A week. Then now that would deal to discount on the shipping costs or we will. Charging nothing or we'll give you you know gift card to you know some service on our website like Amazon does. UPS is expecting to deliver more than thirty million packages a day. On seventeen of the 21 delivery days between Thanksgiving and Christmas last year they did that on just eleven days so they continue to see. Just huge numbers in terms of the increase in shipping at this point. And one of the problems the FB aware of if you're going to be shipping a lot of gifts is porch pirates. Yeah. Court's part you are while I love aren't the only your ams aren't car flat screen TV star. It supports fire port prior somebody's stealing your gifts often your car's failure ports. And I was shocked by this so I always think of 42 pirates predominantly being in urban city areas where you leave something on your doorstep and it disappears server. Was you know in in Boston Somerville alive I experienced this figure that was a light kidnapped packages shipped my house and Somerville but take a look at this it is much more common room leaders in North Dakota York 26 times more likely them packaged in Vermont sixteen and half times more likely. Alaska eight times in New Mexico six times more likely than average your packet ports virus like the open seized our. And Vermont surprises me Richard and nice people there's nobody around hunts that has now been checking on I was in Iraq. He was Minnesota there. The outlets and how surprised to be here about packaged stepped in Minnesota there's been fastest people in the country neighbor Vermont people are just really hungry in the open like a bag of cookies but this. But really. That's about what it really hungry is just greener Freeman it's audio quality. I noticed something interesting at a package delivered by Amazon yesterday you know what they do now when they deliver a package. You leave it to go on they leave it in they take a picture of where they left it. So that hey it's proof that they dropped it off in B you know where to look and she's hiding get home until around 9 o'clock last night's historic Republican packages. And I'm like where we're is that I go to check to see if they delivered it NIC is nice gesture of you know hates right off to the side of my steps not on Gavin I've. Better street calling and as I because I don't know what the hell it left my package because when I live in an apartment complex. I did what it was like my neighbor pattern I had one that was where an IE we used to have in Somerville at one that was delivered and said you know person left the package on your back porch. The back ports but I think what do you lifted on the back Willis there it's like could exceed you have to be aware of of ports pirates. Coming after your duties. And our. Just a something to be aware of there. This this headline kind of caught me off guard when I saw. It says stop using excel finance chiefs tell staffs. I was shocked why. So the base I mean. Basically it's because excels kind of an outdated product that doesn't allow for easy collaboration. And doesn't really sync up with other programs and he can't easily feed. Data into excel on a routine automatic basis unlike some other programs that are out there. That's said excel has been the king of the finance industry for since the beginning of time AA excel has been. Since the invention of the computer excel has been a prominent way that you track finances and everyone goes to work for fidelity of ruling goes worked for Goldman Sachs ever went that that first year it's okay here all of your cell shortcuts to make sure that you can you do everything and I do it's a test on a lot of entry you know on a lot of interviews like show me your excel skills laid you know how to do this that the other because if you don't you're missing here. And so instead companies are mere inches in a lot of new cloud based technologies which I have not heard of frankly any of these but. And a plan work you've and adapted insights I've heard of any I have not heard a single one of these that a lot of big companies are starting to push them a lot more heavily on to their employees that allows them to. Collaborate easier which I'll admit collaborating excel document is not easy notes miserable and allows you to link live data streams directly to your data sets so rather than oh I'd actually put in day extra zero or decimal place where there should have been a com. You've got the flight data streams that are going right and I don't know that I don't really see how this could possibly take off today people are so entrenched in their itself that I see it tough time with this adaptation McEnroe. Quick word on behalf of Cushing and Dolan estate planning can have many benefits especially if it's done early. It's extremely important protector passes that you've worked so hard to attain. But it but he did know that if you do your planning the right way. You may also be able to eliminate estate taxes sound the sound too good to be true it's not Todd wants to partner with the law firm Chris in Dolan. Is an expert in elder law has been helping families with older life planning for more than thirty years. He's written a new guy that is out this month. Called asset protection strategies in it you'll learn how to protect your assets keep him in your bloodline avoid probate. And increase your beneficiaries inheritance while reducing and in some cases eliminating your state taxes. What's he leads inexperienced team at Cushing and dole in which have been helping families like yours with their state planning and he can help you to call right now to get Todd new guide called asset protection strategies. At 866. 848. 5699. That's 866. Eight foray. 5699. Or you can download the guy right now from our website legal exchange show dot com that's legal exchange show dot com. News yesterday Meg Whitman stepping down as the Hewlett-Packard enterprise CEO. Yeah and stock has not liking it very much HP stock down eight point 3% today on presumably this 7 NEWS here. What is your take on her tenure there's been there six years had a pretty good turnaround this company. And publisher washed up and down. Well I mean I don't know that this stock hasn't. The since the spin off last year the stock is pretty much the state same price serve. As far as why she is stepping down. Look you know Meg Whitman Whitman. Is someone who has. Been outspoken about her desire to get into politics at some point so much my first inclination is OK do I do I wonder about that. Non simply because. She ran for governor in California when I think it was back in 09 something like the united 2010. And then obviously she was running for. She's talked about running for president we've correct. Perhaps or maybe someone had now been sorted mentioned her running for president in the last couple days. But but my first thought is okay is she going to run neo foursome contrary political office part of it. You know beyond that I look at her she's 61 right now she she she still young enough that she could easily take over somewhere else you know. Did mention that in her you know walking out statements that she might still be interested in taking other CEO's job selected maybe she's got some ideas where she's going next. The question with Meg Whitman she did a a great job with eBay where she started off she was CEO their from 98 to 2008. You know this way and HP she she didn't really. She didn't seem to kind of I'm a trending the right way to phrase it. She have that company may be a similar job now and so it's not a technical CEO and HP seems to be really trying to move very technical direction. And she she doesn't have that kind of expertise she's a great operator she's a fantastic manager and I think there's probably a lot of companies that will be lucky to have for at this point. But I wonder if she's looking at the same gee I'm not the right fit here. And I want to wanted to go somewhere else so that I can kind of prove that eBay wasn't just one hit wonder that I can do it again yeah I kind of wonder if that's what's out there right now so Meg Whitman stepping down as the HP EC EO right now. I wouldn't be surprised she resurface somewhere else I think that she is. Very qualified very capable. And I wouldn't be surprised she somewhere else in the next years we're clearly not the only ones surprised by this the president mentions HP started as a big surprise to Wall Street programs how much was down nearly 8% is that right now so down about 8% on this Nusa clearly showing her value and HPQ. The other spin off HP is down 7%. Clearly shown her value to the company there. We're gonna take a break and when we come back Bridget Carey from CNET. Is gonna be here talking about the diet to holiday tech gifts you don't wanna miss if you're thinking about buying tech gift for anyone in your life this holiday season. That's here right here on the financial exchange radio network. The financial exchanges line on FaceBook and YouTube watch Berrian chug discuss the issues of the day and see which one smiles the most. 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 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. 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Free online banking with leader banks in new east savings account that has a one point 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. Security suffered two securities America team members finreg SIPC. Advisory services arbiters securities America advisors Gerry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. They say video pads ten pounds. But don't tell Barry in charge in the financial exchanges lives every day on FaceBook and YouTube this is the financial exchange radio network. It is that time a year where we start thinking about the holiday ship holiday shopping gifts we are joined now by Bridget Carey from CNET talk about all the tech gifts that are out there this year welcome Bridget. So I asked re going to be union line somewhere in the night. Online stock and couldn't get deals actually buried just might key to our next year that because we're seen more Mort door buster deals online from the big box retailers. Normally only the stores. Just so that if you. Shop online are up. I've I've also seen that break in terms of cheap get things that are right good for under fifty dollars. This is their time ticket. One of those Smart speakers of the Google Khomeini yet. You have Amazon's version and co dot U those small wife I'd speakers even talk it with the witnesses and. Next year I am one of the big ones first to be able to set the sister can you just by the many. I am on the days they were just I make some Latin music man and if you wanna have. Really quality musical you're differentiated the pan more and also with Amazon. You know it it's actually better speaker it is with a line now and at the big perk. But but thirty buck up. Comfort that you know I think skinny Black Friday not quite a sixty. So it is interesting time canister record but in I know the big box retailers like best buy target and Wal-Mart they're trying to sweeten the deal with Google version by Germany gift card. But do your homework maybe about better for what you might either in the. Okay well we so want to walk us through some of these some of the slightly more expensive gifts for Gerri give me I'd a top three or top five. What are you looking at for some of the higher and tech gifts this year. Well let me at. It normally I'm always there like cheaper under I that. It goes for televisions right now especially perplexed but the cheaper you got the mark garbage again ammunition that are very doing Stevie like it says. Blogs but I'll have to like go crazy hunt on the day of Black Friday were seen good he need not feel right now. TV that key recommend. I EEL one company in sneak one before each TV and outlook who built and it 400 dollars. 8200 dollars at all Craig out so. Big and I say do your homework on TV you know don't care about but like I achieved TD run. From Polaroid did you pull in anything you do does. Yes exactly. No I didn't have one actually. Have a one. Yes so other great eighties that still has failed to Cuba or in that regard. And of course. People think about tablet at this time a year Apple's tablet have been counts everywhere it normally don't. I'm about getting. The really cheap tablet but he got high and with that I've got more or even go and the bond and a thirty dollar tablet on sale normally if he's their. It expired patents and they're not in and actually right now their kids edition is seventy dollars right on down usual hundred app that we perplexed I. And a lot of these deals are just going on right now. Anything in the wearable space that you're seeing Ares. Haven't really seen it catch on anywhere but hey any deals to be had in. Any of those wearable devices. The group they weren't getting bars that fitness checkered shirt that. This tidbit charged issue it's a hundred dollars it. Wolf it's on our favorite ones. That's. You know Barbara thank David about fifty dollars for for Black Friday there at best buy it's not a bit like top count. Com and it's one that I particularly public interest is at best buy has gone there because he's so it junior Q. Eighty delegates for you although I think it I want that's why it was not like. All for it is he characters whether it deviate for hours or marble you'd Captain America or beat out in many mountains. And has little colored screen and can make it eighteen to get more bad. I can it keep you bet it does walk market apparently you know here but maybe Mickey Mouse Hilton might actually be enough and that. But yet that now eighty dollars if you that back. Inch while I'm on US are right now there's a lot of different categories you can search search under fifty computers distinctive. Finder ridiculous Black Friday assistant inching stuff to be had over on CNET tech com and now we appreciate you joining disparate. They care. And into the pour it made TVs in the authorities making it does the initial after six seconds. No it takes a little while war. A warm up put it it's slow to take care Tucker's us from 2006. Yes it's not noticed legislate one you throw in the bedroom it's like 22 inches something like that. He'd be crazy cheap these TDs. I'll answer for JTV with Wi-Fi enabled. Reputed fifty entities reformed box and see what else or it makes at this point. Besides cameras and might TV judges. They actually ups three different TV lines they current. They do you have a couple different cameras and things like that. You think that there were up their production in or quality TV since all the Smartphones are increasing their camera. You know quality pretty much yeah yeah you you'd think that would be an area of focus for the and if you ever buy like TV is Christmas present now or never ever. I haven't either. I mean. I T do it after ST yes who lost power and news. Sunday morning at like 1130 turn on for football forum that's Oklahoma get hot tired and beat and new TV. Yeah I've I've got a TV in my bedroom that is. Wanna say twelve or thirteen years old notes McDonald's ran into the ground like dust on don't want my only get talks at about the new technology but slick look you buy the best thing that you can't at the time of the need to run that as long as you can't the other one I have now I've bought like 2005200642. Inches it's sharp. I'm Scott ran into the ground pretty much yet by the way here everyone's until it's no longer sharp. Own good I go to and people wanna like adapted to new you know technologies the united TV over Internet you don't need a brand new TV you do mister scope by one of those little chrome cast things are but you know any of those things will help you. Make your TV Smart TV don't need to go by every news 600 RT needed to. Absolutely. Quick update on the markets before we wrap up here the Dow was off 52 points the S&P is off to. NASDAQ though is up about one point today largely on the back of Amazon which is a little over 1% today. Not entirely sure why did Amazon moving into positive territory over the course of the morning. That is all the time that we have bump for the day today we are going to be wrapping up. Until the last time we have Jesse happy Thanksgiving before tomorrow makes it a financial exchange showed dot com and vote on your favorite type Turkey. Hope unit and we have a great Thanksgiving. Trucks out of Mike Armstrong and chuck are still. We'll see you later on the financial exchange radio and.