WRKO>Audio & Video on Demand>>Full Show 2-20-18

Full Show 2-20-18

Feb 20, 2018|

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

This is the financial exchange with Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day you'll soon be your world stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. We begin our program with a conversation regarding two iconic retailers. That dominate retail sales one being Home Depot and then of course the other being Wal-Mart. This all on a day where the Dow is down 165. Points on everybody it's Barry and Mike with you here. On late Tuesday. And everybody recovering from the long weekend and Home Depot beats on top and bottom lines of very good quarter from people. Gabby a pretty strong and you know just continued growth that we Seattle do you really beating lows across the board continue to compete with lows. But earnings per share on six and nine which we expectations revenue of 23 point nine billion raising their dividend for the fifteenth consecutive year. It seems to be one of the few areas of retailer Amazon just cannot yet make inroads into and they don't seem to be trying too hard. Well you know I I I've wondered about that. AD I bought some things on and on Amazon. That I would normally buy on Home Depot and I think others have done the same I talked to Jim Toledo's a friend of mine and he he's he's done it. And the I wonder at what point do they make does Amazon make a concentrated effort to go after Home Depot. If you talk to people in the electrical contracting business. They'll tell you they're already feeling the heat from Amazon they're they're already seeing situations were contractors. Are buying. Product and having it delivered to the job site from Amazon is onset from deep but it's it's certainly not reflected in the sales I mean now be the big number here it in and remember this folks when you're looking at retail. And I earnings per share is important that don't get me wrong revenue gross revenues important but what really. Chimes. Is the same store sales. In same store sales you mentioned seven and a half percent I mean that's just the huge enormous same store sales. Yeah you we are seen and we're entering that phase of the housing market where people are you know against her and take money out of their properties and improve and its record equity. Aid kitchen renovations back renovations are through the roof. And yeah I can see the contractor sent a camera by some components and I'm gonna buy some stuff that you won't commonly be seen on Amazon and you know put it in there. You can for trial. Looking for flooring you're looking for him faucets and things like that you wanted to see in person. Amazon's knocking at the job I don't you know I don't care how it rates are repeat item Michael it sure would if you're buying the same flooring for the twenty home your building. And you say you know I'll go on with that certain kind of tile. You really need to go to see it and probably saved time and money by having it delivered to the jobs yeah I'm sure you can bet the problem that we're seeing here too is. It's not like you're having a ton of this new home building. Right a lot of this money is being renovation is renovations which is not largely a contractor sent a camera do the same renovation hundred homes and there's an AA you know an individual customer Sam McAllen customize everything on my own them hire contract to do it but they're gonna send me Home Depot and say okay go pick out which one again if you know. Will we got Home Depot numbers did we've received blows numbers I didn't see I didn't see any of those numbers but they have consistently been beating up on news pretty much across the board which has its price to me and I look at them as being. Amazingly similar stores he locked it. He you know if you put a blindfold on and she could tell you which yeah carrier in the bag I tend to agree for whatever reason I do you feel them give us a better reputation at their rent on temperaturewise. My question is you know I think you're right at some point the online retailers are gonna start eating away at this business and I don't see Home Depot investing in a lot of new stuff to really. Combat that no they don't have to do right now am but I think eventually they do a table. Where they do a nice job home Depot's supplying with you with contractors. If you wanna get work done around your house you can have a Home Depot contractor come out and do the work and the quality of the work tends to be pretty good. The price. Is arguably a little higher. But these workers these contractors it you've higher through Home Depot. They are paranoid about getting the job done on a timely basis and good days. Is it you don't give them a good rate let's say you hire them to re reading your bathroom or build the deck or something that. At the end hold people's gonna wanna know. How was the experience it did they do a good job in if you report negatively affect contractor loses that have you personally used the contract parents of your your grandparents my parents abuse them and they raved about it and and they compared to other contractors that they had not hired through Home Depot and they said. You know other contractors were less concerned about the reputation damage is that contractors they hired through Home Depot. Where paranoid if you know they said it was jobless can be done on Thursday at 2 o'clock the job was done on Thursday at 1 o'clock. You clean up at the end of the day you know they get the contractors there for a week. They're The Home Depot quote contractors cleanup efforts were better at the places immaculate at the end of the day that was my reference point lose you you know my mom and dad with aided in in terms of using it around their house and they've done extensive renovation I've heard others I've heard others were not taxpayers. Contractors who writes that like to see an end of the urgency of the people's up other people's feelings but that's how they get a lot of businesses yep you got their growth is because they. When you hire Home Depot contract remember that contractors kicked it back a big chunk of his should be. Home Depot I'm sure that that money leader that money's going one way. The one innovative thing that I like at Home Depot is doing is this new deal that they're doing with Tesla. That the solar panels. Yeah they just get a new deal Tesla there and have their solar panels and their batteries in this story I don't know of any other retail sending go to that's. Actually the guys salt and if you can installed yourself. And and do yourself around my house that's can't imagine that well with the exception of hiring electrician yeah if you can take out there's a lot of the cost if you look at solar. You know much the 30% of the cost is the development of the sales process. Unity take that out of the cost of Schuller and where you're just going to buy it. And then hooking it in your system. Maybe with the assistance of an electrician black tunic a big difference I'm not calling a 150 pound solar panel on matters affecting what's the app poll question today Tucker the apple question to today. Is are you making any of your Home Depot purchases on Amazon and you can cash your. Question and answer F financial exchange showed dot com I have to say I am mutilate a lot of times I'll do. You know it might be paint brushes it's on the he would just kind of like CBS yeah you know you you look at your purchases goes through your Amazon account books. And just take a look at you know the last I don't know 4560. Days of purchases. And see how many of those items are items that you might have bought and bought it at Macy's how many bummer items that you might have bought. And CDS and how many of them are items about a bottle people. I bought a house organ for a ceiling fan I went to Home Depot life you know looked in all over. Found one there in areas you know 20% cheaper on ams on sidebar there whereas they had another one that I confining him as an outside run Home Depot but I mean if everyone's doing that pressure him price comparing its so easy these days it just with actor app and saying you know. When that's part of what's keeping inflation. Is the fact that people are able to shop comparison shop. Because the Amazon effect on inflation in a retailers cannot be charged indeed and retailers in the old days they did in the store. And it's a while we can charge Michael. An extra thirty bucks for that and charge an extra fifty cents for that shaving cream. Do anymore to do it because so illegals elected by him entry opportunity ninth and Amazon why am I gonna pay 399 CBS and the and that's what's keeping inflation part of keeping inflation depressed. Don't forget participated in the poll Michael had financial exchange coda account so. Told people shares effectively flat today this must have been baked into the acting it is Armenia people have been tailored deep stuff has just continued to beyond expectations time after time so investors don't expect what's coming from people then be beating earnings. Now I mentioned same store sales growth at home people with seven point 5%. You go to Wal-Mart which is our next company that rent talk about same store sales growth only two point 6%. That's true you know I think. You'd be very surprised and perceived wal mart's extra sales increased sentence seven point something percent today they still be expectations on both. Revenue as well it's a sad thing for Home Depot I'd I would I would. I would expects home Depot's answers to be increasing rates because housing because of where Wal-Mart is just a general more general retailers don't anticipate those types. Growth numbers. The concern here says stock is way down this morning they missed on earnings pretty substantially and the main cause it was a massive investment they've been putting. Frankly just into online sales which I think is actually Smart he is being. Wal-Mart is probably the only company that I can think of the can actually compete with Amazon. And I've got the jet application on the iPhone but it never used that. Yeah. And I just don't use. I don't have an all. It's it's good that they're making this investment and frankly I know the stock is down nearly 9% today. But I look at this and I think it's actually a decent story right you'd take a look at their Q4 sales which include the holiday season. Revenues were up same store sales were both beat expectations from what were looking for. The problem once they spent a lot of money on me seemed more Wal-Mart commercials of the last nine days have just about anything else. And improving their technology improving service. So. What area where I think the later Nate uses it appeared offers. A very skeptical. That people are gonna. Ordered it or freeze on line in the total parking lot and have been put into their car maybe maybe I am. I I could be mystery in the market I'm sure they've done market totally New York. That's not attractive to me at all for hours at a stop in shops have it yeah other stores and there's like three Spacek is not designated for that whatever it is not attractive to I'm still going to be damn location in Italy and you go to Italy in due to her is it for free shopping is in Paul's race you're walking through history to have your list don't go hungry at your interview list with ten items on it that you try to walk out of fifteen or twenty to shirk. He's just a natural habit and I feel like every time I go to Wal-Mart Wal-Mart half the pain is getting through the giant parking lot and traffic getting in the place trying to go to their aggressions. Tracked well they do delivery. Which jet does subject as she delivered it's it doesn't seem to be doing another young jet does grocery delivery. But I don't know that there are very small portion of the girls on line sales they've got to grow that maybe just survival for Wal-Mart. Is based on their ability to grow their franchise and you know on the fairly heavy on line chopper 5600 bucks a month and never use the darn thing. We've got to get they've got to get in wall. But it Wal-Mart same store sales up two point 6% I think that's impressive. I worry little about their earnings per share because they are investing in trying to get their online shopping yet they're not they got to address it if they don't do it well. And so on their camera problem take coming up we're talk about how you can get 5%. Cash back her. 5% back when doing your growth for shopping at the next from the financial exchange and. Like us on FaceBook and follow us on Twitter ax TSB show you. Breaking business news is always first right here on the financial exchange radio network. President Trump's new tax bill was signed into law on December 22 to 2017 and while it will have an effect on all of us if you're higher earner and making over 600000. Dollars a year you wanna pay close attention to this message bury our chart here in my firm the Armstrong advisory group has written a new guide that specifically discusses the effect of the new bill on high net worth investors guide provides an overview of the changes to the seven tax brackets state local and property tax deductions as close breaking down the state exemption for each New England state this important information is George for free by calling 803934001. That's 803934001. Or you can download the guide right now at Armstrong advisory dot com. Dirty suffer through securities America incorporated member finreg SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong represented at Armstrong advisory group in the securities America companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. Advanced estate planning has many benefits including avoiding probate passing your assets along to your family possibly eliminating estate taxes and perhaps most important protection from the nursing home each week Todd let's do a partner go off from -- in -- -- the legal exchange radio show and he educates his listeners by telling them how to protect their assets from high custom nursing homes the state planning has many benefits but if you don't plan accordingly you're sure to miss out fishing in Dolan -- put together a brand new guide told the top ten reasons to do a state -- minute you'll find strategies that can help you navigate this complicated process while learning what to do and what not to do when it comes to setting up your life for state call now for your free copy an 8668485699. That's 8668485699. You can also download it right now from their website legal exchange showed dot com fishing in Dolan has been helping families just play Georgia Thursday claiming for more than thirty years give them a call at their free guide and let them help you to call 8668485699. Or download the guide at legal exchange -- done. John Barrett strong here and I'm joined by estate planning attorney Todd looked ski from the law firm Cushing and all we're talking about. Motivation to create in a state plan here's one. Howell Todd can somebody. Ensure. That an ex daughter in law or an ex son in law is not going to take. Half of my child's inheritance when I die in the event that they got a divorce you know I don't think I sit down at a client meeting. And this doesn't come. Rate beauty do you bring it up Purdue the clients are. I think it's a combination of ball but but once you mention if they don't mention that always think about after death I know and when you mention it. They jump on. One might spell out here at lower divorce is so prevalent I guess that's the pro and here's the lower right you guys you both you leave. Each of your children half a million dollars right. And then three years after you're gone they get a divorce. You're gonna lose half a 500000 dollars on a good. And so what we try to do is inside the trust again another family reason to do estate planning a non tax reason to do an estate plan. And and we inside the trust we create its shares for the children and we have independent trust me if you will making one decision only. And that is in their sole discretion to make distribution to which or to the grinch. And that sole discretion provides all the creditor protection that they need from the divorce in the future. I don't mean to lecture but it's a good idea it created state plane and keep your assets in the blood line. Avoid having your state go to ex son in laws are ex daughter in law's call Cushing handle an 8668485699. All 3866. Eight Horry 5699. You can download the guide on the web site legal exchange showed dot com. Or call to hold free and do it now 8668485699. Security suffered through securities America ink members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. The financial exchange could Berrian chuck is live on FaceBook and YouTube every morning beginning at ten. This is the financial exchange radio network. Whole foods says jokingly dean. Cold. Whole paycheck in the past. And after it likely go. You go ahead to. This segment financial changes brought to you by Z rent if you're a lame or take advantage is you rent a fully automatic online ring collection tool that's free for landlords and accounted participating bank and always free for tenants. Now collection of local banks are offering this unique program including leader bank in stone and sign up and have rent payments deposited directly into your account call 781641. 8691 today or was it easy rent dot com for more. FDIC. So whole foods. I used to be whole paycheck. Acquired by Amazon and late in 2017. Now what they're telling their customers though is if you shocked in any whole foods and you're just walked in in doing your binder Fisher your groceries. And you use the Amazon visa rewards card which I have if you know you get 5% back under trees yet I mean that's publicity Amazon visa rewards card have been around for awhile already you already got 5% back on Amazon.com purchases with the way it works it just so you guys understand it is you accumulate points. And then. When the points reach a certain dollar amount let's we have you know because 5% he spent thousand dollars you accumulate fifty bucks in points. That fifty dollars then when you go to make your next purchase talker you know it's a while you can pay cash or use your card and pay foreign. Or you can use your points right would you rather do. Or you can apply apply your points at that next I don't know how much savings you're going to get if you do get the 5% back. Because a whole foods like you said is more expensive. Doing your ball shopping then you know the market basket and stop and shops so I don't you know for two worth it I wouldn't do but here's the thing Tucker yeah you drive by any poll food the dark parking lot is full well knowing he certainly is I drive by one in Wellesley and Simon again. You can drive by on Saturday afternoon it's going to be packing drive by and Sunday night. In that darn parking lot going to be busy gives it to be the you're right it's a high end story and you might not shop there are multi. There are a lot of people that are doing all of their shopping in hole. Yeah there are if you you know you if you compare it to. You know a few of the other higher and grocery stores if you take a look at it like local won't be released for others vs a whole foods can take that 5% cash back from whole foods you might actually be. You you could potentially be cheaper at the whole foods and you would be the right for you could be absolutely. Brooks Brothers is no bargain but I mean yeah you're gonna market basket for his whole foods. And there's no real cost comparison you're doing BJ's or Wal-Mart vs old would you with a 5% it's now up to editors say yeah there anyway. I actually reasoning went to weigh. Roche Brothers did you on yet because as I was certain searching particulars and I saw that the whole chicken was on sales as like let me just go to Roche Brothers topic of the rest of the stuff there. A lot more expensive than anticipated Alex whom man they're very small store yet here. I think maybe 1520 stores yet. Chicken was good sales you know I got that out. In the door no gap and I AA yet the Roche Brothers should take a look I think the big difference string than a Wal-Mart market basket. You look around it's guys name places. Same ratio employees as like whole foods right so many people work. Higher prices. Free agency in the NFL begins next month. But there is one free agent who is gonna get paid substantially more than any other region coming into the market that would be quarterback. Kirk cousins who's been the quarterback for the Washington Redskins for the last several years stepped. He's been good do Izzy talk time quarterback yet. Oh yeah definitely and the Redskins they just acquired Alex Smith of the Kansas City Chiefs to. Take over the reins for Kirk cousins because they've been on the edge with contract negotiations for a few years it seems now yet every year is huge at the franchised and and he might this year tuba. I who do do like a 35 million dollar franchise deck there franchise tag them. Washington game their thing about it does that make interest freedom and it's on the back for IC is right now the speculation in New York Post right is that the New York Jets are gonna pay in sixty million dollars guaranteed in the first year. Would surprise him. It would not surprise me the jets are that. Desperate for quarterback and they have. A ton of financial rooms offseason because they literally have like no talent on their roster now the other teams that are in the running. Our. Oh against the Cleveland Browns yeah odd Broncos and the Denver Broncos the problem egg and I think it got like cousins is gonna look at that and say. All three of those teams stink. Broncos were probably ideal candidate their quarterback away thank few other pieces here in the Ivan Ivan last year. Oh yeah yeah I mean it would get a quarterback rotation but yeah I mean sixty million dollars. More would be like to two years guaranteed with the jets through its that's harder that's hurt to turn down your Kirk was a steel beat out the grapple and deal Cintron. Yes well I've speculation is that he cousins is gonna make more than apple sees it turns out terrorists and highest highest that played. In accelerant in terms of guaranteed money I might surpass that another Acropolis total contract. There's hundreds and 130 sevens yep over if you don't sixty nine's first you missing and clips right exactly yeah so Woolsey. Just wondering desperate the they are in their big money team right there big market that unity the date they want to be able to compete. But I really question when guys worth it you know sixteen million bucks and went coming out I wouldn't do that. I I don't recall lit what's the most any other NFL players been paid for one year's performance a one year who. About 25 million yes somewhere in the range and also that you'll get one guy whose name I looked at considered to be an unproven entity that can make sixty inbox and yet I I know that Jim Baker upload size recorder Akron now technically but the Packers are renegotiating with Aaron Rodgers so while that's gonna be short lived for growth blow up. An airline pilot reveals a major reason why flights today are less comfortable and frequently delayed that's our next story. On 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. Hi this is Barry Armstrong and I've been a financial advisor for over thirty years and I'm looking to grow my business through acquisition if you're financial advisor who may be considering retirement or simply developing a succession plan for your clients we should tuck we all work hard and if you reach the point where you're looking to the future call me at the Armstrong advisory group were regional firm with offices throughout New England that employs a solid stable of young advisors who understand the service and attention that your clients need and deserve we will consider transactional oriented firms as well as registered investment advisors if you're adjusted please give me call 803934001. That's 803934. Zeros or one or you can connect with me online at Armstrong advisory dot com. Securities -- for two securities America incorporated members in SAP C and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. If you're landlords looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks most landlords used local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC if you're a landlord and are interested in having your bank -- does he -- technology tell them the -- -- he -- team at 781 at 6418691. That's 7816418691. Or visit -- Rand dot net stopped chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot. Net hi this is very Armstrong and I'm speaking to business owners everywhere who listen to this program the United States Virgin Islands are great place to locate a business day of the tax incentive program offered by the economic development authority that could help save up to 90%. On your federal income tax here's Wayne bigs executive director of EDA. This is a program us. Fully approved by congress has been in existence for about 45 years that we have several companies that are doing that Carly and we effectively reduce federal income tax because we do Ameritech's system where we use the federal forms with the money CC territory and a fogleman has allowed us to do that to increase economic development inventory to encourage economic development unit territory sort of allowed us that we cut tax rates if you're. Business owner looking for tax breaks talk to the folks at the US VI economic development authority and learn how you can put incredible capital back into your business. Log on to their website its USD. IE DA dot or best US. VI EDA dot org. Advanced to state claiming has many benefits including avoiding probate passing your assets along to your family possibly eliminating estate taxes and perhaps most important protection from the nursing home each week Todd let's do a partner go off from Cushing in Dolan post the legal exchange radio show and he educates his listeners by telling them how to protect their assets from the high custom nursing homes estate planning has many benefits but if you don't plan accordingly your short miss out. Cushing in Dolan is put together a brand new guide told the top ten reasons to do a state claiming minute you'll find strategies that can help you navigate this complicated process while learning what to do in what not to do when it comes to setting up your life for state call now for your free copy an 8668485699. That's 8668485699. You can also download it right now from their website legal exchange showed dot com fishing in Dolan has been helping families just play Georgia Thursday blaming for more than thirty years give them a call at their free guide and let them help YouTube only 668485699. Or download the guide had legal exchange showed dot com. Many believe that the incredible success we saw the markets last year was fueled by the pro. Promise of tax reform president trump signed the bill just over a month ago and the markets remained strong with plenty of optimism about a repeat performance in 2018 Titus is very are strong and I've got a new guide out this month that breaks down how this new tax bill will affect you especially if your high income earner this new guide we'll break down the changing tax brackets how the bill affects retirement savings as well as what it means to the federal estate tax let my team at the Armstrong advisory group explained these changes and how old that new law affects you call right now feel free guide 803934001. That's 803934001. Or download it right now at our strong advisory -- counts. Dirty suffer through securities America incorporated member finreg SIPC advisory services are with the securities America advisors incorporated Barry Armstrong were presented at Armstrong advisory group the securities America companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. Time now for mostly watch a look at the market's performance so far today thanks to Darian jog right here on the financial exchange radio network. So let's take the Dow is down almost 200 points that this appointment. Yeah we've we opened up down and it's just continued to go further into the red we were discussing a Wal-Mart story earlier definitely moving markets they mr. earnings expectations by about four cents. The beating on revenue and same store sales sales stock is down nearly ten boxer and half percent to we're seeing both. Target going down and sympathy as wells that stocks down three boxer nearly 4% just kind of taking a look at their big competitors in Singapore. Today so. Retail sector as a whole not doing particularly well this morning. You know. We fly a lot and it's amazing how inexpensive. It is you can fly from. Boston to San Diego for I don't know to 300 bucks he can fly from. Hartford to Miami for two or 300 dollars but off tea. The on time percentage for airlines has declined over the last 2030 years. And the speculation. That's speculation who's the real reason for is that there's so many more flights used to be big planes. You know that would be in a hole 300 people now it's small planes that hold a 150 because people want more frequent flights. The problem it creates is a lot of delays. Well. It's creating the delays and what you're seeing is yet it is causing you know our route from Boston Phoenix which twenty years ago might three years that notes opera pride in exist but it went from California Boston to LA. Here is taking X amount time and now what they're doing is they're actually they're building into their flight plans he scenes of the last two or three years where how much time to down play where the pilot comes on says are now we're going to be getting in and actually about 1015 minutes early. What they're chewing they're actually say OK let five hour flight it's actually going to be five and half five hours and 45 minutes because they just know how long it's been taken to get off the ground in all these airports because of traffic exactly. So that actually if you look at just the last couple years you've seen Ben actually beating. Being close in on time allowance lets but only because they extend the time that there. Expected to get into the airport but yet it's. Really due to the fact that you have you know a lot more flights on a lot smaller planes and really causing traffic through the air. Ports themselves do not have the infrastructure to support the number of flights that are going in and write it one trick I've learned over the years is to try to fly early in the morning. By flying early in the morning you tend to have. Less so I'll catch 6 o'clock deflator a 6:30 flight in the morning. Is that planes already there you came in the night before where a year if you're catching a new and later 2 o'clock in the afternoon flight that flight in connecting all over the place if you whether. Forget about it. Whether especially appear in the northeast just kills and it is your weather problems in the northeast. If it wipes out the rest of the country can do it causes delays all over the country. You know we've we've seen the pendulum swing on this so substantial write anything about all of those tiny little uncomfortable regional jets that we have going all over the place and go fifteen times today which is Korean a lot of options but. There's gonna depend on gonna have to swing I think because it's literally getting to the point where these airports just cannot facilitate. This many flights coming in and out of it and that's gonna begin to impact their on time percentage and when that starts happening. I would think that you're gonna start dating back to the larger more harmful planes again ordered the regional smaller regional airports help with that unity thing about plus New England Uga Bradley yet TF green. You've got Manchester. Area those those those three airports. Certainly two of which there are a pretty viable. The AD that you can use to fire one. But then the problem is if you're using them to go to Miami there's going to be traffic congestion in Miami. True. But they you know I I've talked to somebody who's flying and Portsmouth regional airport directs is somewhere in Florida I can't remember another smaller regional airport but it direct to Florida from Portsmouth I mean that's incredible. Problems if you miss that flight where you're trying to get back to Portsmouth it can be a problem that yeah that's a child from useless. Talk even watch and any Olympics. I have me to I don't every night it just eat eat a lot of touches just on in the background but the viewership has been pretty bad. Well you could say that it has definitely been worse than it was four years ago which I don't think should be surprising. And here's my arguments they said the viewership is down 7% since the last Winter Olympics so is the Super Bowl and so everything else that I looked exactly just real quick Mike to their point Daytona 500 resist today for anybody who even cares. You were shippers don't when he 3% 23 year over year. Yes well. What do you think viewership for the Olympics. Eased down partly because the American team's not doing well and me the American team. Has to be very disappointed. In in their results for I mean they're the they're getting beaten by a free agents got Norway's we similarity via candidates. Canada doing very well minutes total time but yadda America's not really doomed. German nationals are well at all now they're not doing well. I'm not sure that's impacting these numbers mean it just to me it seems like these Olympics are down by about the same amount as everyone's cutting the court and know watching TV and I think another part of it too is the time differentials well. Fourteen hours it's now a TV schedules like I didn't know hockey was on the other day had no idea is on Saturday morning. I think that's certainly hurts idea I think it does I think he knows the woman's. Or in the men's US hockey and start last night I think 101030. Yeah I mean I might watch that down. One day to your point talker. Since 2014. This is separate from the Olympics aren't. Since 2014 the average primetime audience for entertainment for NBC is down five point 6%. CBS's off 12%. EBC has lost 16% of their audience and fox is down 30%. So that goes back to the point we talked about in the past where. People don't sit around and say we're gonna watch Thursday night television anymore are you he's no usual Tuesday night lineup wears when you guys are kids. There were certain shows that you talk about at school yet right and you come home. And everybody in your class would watch that show at 830 our Tuesday night did you talk about now the next day it's totally different now night to watch things on demand you can binge likes things uncertain times watcher aren't classy you'll watch sports highlights this instead of the entire game now so it's it brings a falling across the board it's not any particular sport. And I'd be tested to see. If they're counting for people that are streaming SI am my brother's news hasn't watched a single minute of the NBC area of the televised Olympics. And yes apple TV in Asia stranger to the NBC and I don't know if that has been accounted for here and are. Obama marriage thing. Hate in my hands on holding a document that might be of the sea view. Hundreds of thousands of dollars if not millions of dollars in income tax in this is. An announcement on making on behalf of the United States Virgin Islands there are located. Just south of Puerto Rico. And they're part of the United States but their territory which means you get to set up their own tax code. And if you re locate your business if you of the successful business where you're making a profit 102030 million dollars a year. If you re locate that business to the United States Virgin Islands you can call five. For a nine. Pretty attractive offering many of you have party called requesting the guide it to. Guide that describes the unparalleled. Taxation benefits. Associated with relocating your business to the United States Virgin Islands and give your phone number to call semen wanna read down. The number is 855622. 3634. That's 8556223634. If fewer lower interested in learning how you could reduce your federal income tax liability both corporate and personal. By 90%. Well give them a call the number stole 38556223634. Or. You can go to US VI ED EA dot org but it's easier just call. And they'll milieu that guy. Small business confidence hit a record highs in twenty team. Yes we saw the index increased by the single largest point two points increase that yet again ever seen. Went for 57 to 62 as as small business owners just look at tax reform I think in say. Things were superheroes. Well they are in in in when you reduce. Taxes when the you're making widgets or medical devices or her. Any it just ripples through the economy and I thing. They may have underestimated. The impact the financial impact when they're doing the tax cuts. The days oh we can get to 3% GDP and the years in CGP substantially higher than anticipated. And that will in turn. Lead to higher interest rates by one of the things we have to expect here folks. Is if we start seeing GDP numbers. 4%. 5% which is what many of us are anticipating you start getting GDP of foreign 5% he would have interest rates going higher not into the world and only at the wrong impression. But I think this is demonstrative. Of how people and companies are feeling about the business climate do you think this will be more in line with the trump administration projections on GDP growth I do that the third parties yet and and even with the Fed is saying yeah I think. I think you're absolutely right the next two to three years I have a very difficult time believed that receive 5% GDP growth for DEC oh I I I don't think he'd get a guy for decades but I think over the short term media. It five for me because there's two things can change wreck you know he's too many things can change during that period of time tax rates in the opium change administration. Be in a really try to go much more than two years is pretty difficult I agree. Partners healthcare the largest private employer in Massachusetts. Has told about 100 employees they are being let go in their jobs outsourced to India where workers. Will perform the same tasks for much smaller paycheck this story today's Boston vote. Yeah and I'm I'm afraid Tate you know you'd be the bearer of bad news I think this is really only beginning so this hundred employees there are largely code yours that you know basis Howard. Medical data looking for you know looking for things that they could go on and the day it's just. Worker can be easily replicated any less expensive area and was third the cost 13 of the cost to do this work there is pure making fifty bucks an hour and I just think you're gonna see more more this as. In this hostile network has put out a three year plan there was slash costs by five to 800 million dollars. There are under pressure. Then there's the they're also the so here's the problem that a park partners task. They're being told. Today the kids grow their expenses. By a and spending by more than 3% year. So what do they do love their finally cut expenses the problem is it's eliminating American jobs and near offshoring them. To India. Now the other thing I would remind you folks whose. These jobs are going to be eliminated anyway Lotta colder jobs are being eliminated by robots in an initial intelligence gave look at the legal profession and in what used to take. You know. A million hours in. Discovery. In in now is that for a fraction of the cost that much of that work also. Speed but it's it's really you know it's starting to hit some of these higher paying jobs and notre makes good money that. Day it's not somebody in a factor put together widgets it's a very different skill set high a maybe it's not exactly like you hinges study for thirty seconds code they up. Next Ritter have stock talk with Bob Sharma from seeking alpha grab a pencil paper stock talk is next. From the financial exchange. The financial exchanges all over New England to go to financial exchange showed dot com and search for the station closest to you this is the financial exchange radio network. Hi this is very Armstrong last November my firm gave away a guy that outlined the seven signs of an impending market correction those signs included rising interest rates and overvalued equities and as we've seen over the last week those two issues have had a major effect on Wall Street's recent performance is the worst over well time will tell but there's a lot of people who were uneasy about what they're seeing in the markets if you're one of them then let's sit down and review your investment strategy if you're working with another advisor that's fine coming in get a second opinion -- cost you nothing and you might learn something about your portfolio I've been helping my listeners with their financial planning needs for years and I'd like to help you to call today and set up your free consultation at 803934001. That's 803934001. Securities offered to securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. Hi this is Gary Armstrong and I 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 an. 25%. Annual percentage yield this is an online product only and there's no minimum balance required to log on to leader bank dot com and sign up today is rate may change without notice so 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. Free online banking with leader bank's new. 25% annual percentage yield and no minimum balance and remember this product is only available online so logon delete your bank dot com right now that's leader bank dot com leader bank a step ahead. High net worth individuals one of the biggest things that changes are some of the rules about gifting as well as irate at 41 K contributions how much do people put into a 41 K plan. Yes so back into seventeen that limit was 181000 dollars per individual that number is going up slightly this year for 2018 is going to be 181500. And don't forget if you're over the age of fifty you have an additional 6000 that you could put in there. Totaling 24500. However on the higher race side nothing's changing you can still put in 5500. In that IRA and adamant did not go out so it's really about the employer sponsored plans. For this one eye on the gift tax side of things for 2017 you can give away 141000. Dollars per individual without filing any sort of gift tax return in 2018 that number is also going up to 151000 dollars up you know as we've seen the beer changes are definitely on the corporate side but there are some small changes around the edges on the individual side that take advantage of can be significant. Folks this is a free guide available from our strong advisory group it's titled how tax reform affects. High net worth investors and it's easy to get all you have to do is call 800. 393. 4001. Again that's 800. 393. 4001. Or you can get it online at Armstrong advisory dot com once again. How tax reform affects high net worth investors 803934001. Security suffer through securities America incorporated member finreg SIPC and advisory services overthrew securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. They say video adds ten pounds. But don't tell Berrian Joakim the financial exchanges alive every day on FaceBook and YouTube this. He's the financial exchange radio network. We'll be taking a look at a fairly newly treated Biotech company called are more biased biosciences today ticker symbol is AR and though and now we have word. Jumping into these pretty complex companies like to have a pro on pro on the showed attempt to boost to us about it Bob Sharma from seeking alpha is joining us now welcome Bob that's coming. Actually in nineteen international. So Juan. Can you do me a favor before we even get interior evaluation on the company and like that could you give us you know the very dumb down version of what this immune on ecology companies doing to treat cancer and senate treating cancer. But the science behind it is waiting to break it. Yeah saw so be it can't let him you know on ideas that come hardy outlet a bop stuff by six. That even has gotten all. Scientists have discovered my dad has done by respect you must as ideological height on the body's immune system indicted by the body's immune system is not about to destroy them. Like it does paktia and modest says. Are being asked some new a lot of drug that got caught checkpoint in David they have become Betty comity which it is and gain some guidance as. That it does have been their market but unfortunately oddity Gundy a tiny but an outpatient respond to them. That he's done is that beef you buy dot forward or Cuba means that even you and if beat chuck Martin Ebert has got a political. Problem that is done by ridiculous go to Google site from the party. Still nobody's Emil has done art in abundance in the Duma. Are now oddball biosciences has not been drug because it would but may be doing much talked like that means is that. These drugs it according that you can't do is still there Marty is these which is like he says. So that we give these drugs in combination and the Dutch art market and it does. Then the bodies that response against there's Cuba sending created by many dying so that is by the Justine comes at a mock about it. Is second guessed like and guard against sudden onslaught reluctance. Did not respond beta on the satellite that has been more than doubled compared with a country avenue but at a B. So effectively the drug is allowing the body's own defenses to you to treat cancers whereas it was unable to base and locate the tumors in the past where it where is this company in the test phases like how early on is this for this company if your thing about investing arm elect. At a dozen test trials. Yeah what they have done not an element of doubt and fear on the opening got to try and more than keep your deepest and then if that type of gas like pancreatic net again. Kidney cancer and melanoma which are all ready commandant. And they Echelon Betty excellent result. In back out again and they are currently conducting hit fifty drives it is not flying as stated of that clinical trials and interim data is going to be. Oddities. I think next month. In Latin Dan Savage animals on one type of cancer. They are going to used to cry and about is that I on the Wheaties their deadliest year. Calls to both of these demands aren't going to be. I can be available provide. What momentum the most Albright although the stock has almost doubled as the right you know. Impressive and I mean other suing your investor a company like this it's all about whether or not this drug is going to be getting approved. What would you put the likelihood of that. Full assault on Baghdad I had that accident and down. I would say that satellite called vote 65% the deputy got there's a lot of got approved. It is different we're different gas because they had a different it is but I would say that pancreatic cancer at about 65%. And Lankan a 60%. Aka. So I mean fairly to likely have approval at this point you think you know definitely big respirator talking about these drugs haven't quite been approved yet to but I concede potentially the the very wide treatment I'm assuming this would be a drug that does for. Six figures so potentially very very wide usage days when describing. Bob appreciate coming on discussed at the again ticker symbol is. Arm 08 RMO. And in the coming arm of biosciences and that was Bob Sharma from seeking alpha thank you Bob thank you. You know the bunny going in to drug research is just remarkable. Yeah across it it's not just be around the world. But the bulk of it seems to be renewing. The you look at the pharmaceutical and yet a lot of terms of the research and a lot of these companies come from New England. That is companies headquartered at California Redwood City so I would say. Yeah between Boston and California masters in California a lot of that. Connecticut has a few but the you have many older retain them they and the taxes are too high in Connecticut and so a lot of companies. Have left Connecticut. It was one in New Haven. That you know they kept some presence in New Haven but their boat moving the ball of their research people up to Boston and Pfizer did the same thing they were a New London, Connecticut. And they move their people to Cambridge. Just the the the wannabe. In the areas where they can attract kids yeah I've got I've got different views just completed his. Chemistry Ph.D. and you know he's the jobs and wherever he wants that wherever wherever that he wasn't there and I could take me one of his jobs and offering. Borough Pennsylvania does not bail them. Well the market is open and were sitting on a down day first day of trading since Friday in the Dow's down 176. Points as we speak. Wal-Mart of course contributing to that lost. They reported earnings that. Missed Wall Street's expectations and their stock was down about 9% early trading. It's Mike. Very and Tucker from the financial exchange. Hi this is very Armstrong and I've been a financial advisor for over thirty years and I'm looking to grow my business through acquisition if you're financial advisor who may be considering retirement or simply developing a succession plan for your clients we should tuck we all work hard and if you reach the point where you're looking to the future call me at the Armstrong advisory group were regional firm with offices throughout New England that employs a solid stable of young advisors who understand the service and attention that your clients need and deserve we will consider transactional oriented firms as well as registered investment advisors if you're adjusted please give me call 803934001. That's 803934. Zeros or one or you can connect with me online at Armstrong advisory dot com. Securities are for two securities America incorporated members in SAP C and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated if you're landlords looking to find an easier way to collect rent payments than you need to hear about leader bank's own line rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and see rent dot net without the need to collect checks mostly in their dues local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank acquired does he ran technology Tillman McCall does he ran team at 781 at 6418691. That 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot. Met advanced estate planning has many benefits including avoiding probate passing your assets along to your family possibly eliminating estate taxes and perhaps most important protection from the nursing home each week Todd let's keep apart or go off from Cushing in Dolan post the legal exchange radio show and he educates his listeners by telling them how to protect their assets from high custom nursing homes the state planning has many benefits but if you don't plan accordingly you're sure to miss out. Cushing in Dolan is put together a brand new guide told the top ten reasons to do a state claiming minute you'll find strategies that can help you navigate this complicated process while learning what to do and what not to do when it comes to setting up your life estate call now for your free copy an 8668485699. That's 8668485699. You can also download it right now from their website legal exchange showed dot com Cushing and Dolan has been helping families just play Georgia Thursday blaming for more than thirty years give them a call get their free guide and let them help you to call 866848569. Guide how tax reform. Affects high net worth investors and Mike what are the biggest changes that we see is in the federal estate tax on it what happened to this number as a result of tax reform. Sure certain 2017. You can give to five point. For a married couple that number was eleven million these numbers are effectively doubling so instead five point five million you're now looking at eleven million for an individual and 2.2 million for a married couple so this is really impacting very few individuals. I mean in the aggregate four. Americans these days and remember that's a pretty hefty tax rate if you get hit with the estate tax you're talking upwards of 40% of that value pitcher trying to pass on. So the federal limit is doubling the five of the six New England states have state estate taxes as well the most restrictive one Massachusetts that number starts to million dollars is guys and guy you know it's not just the amount over a million dollars if you go over a million dollars in Massachusetts you pay state tax on everything you have but you know going through the list Connecticut as an estate tax of two point six million Maine eleven point two million like you said Massachusetts one million Rhode Island is about one point five in Vermont's about two and three quarters the only state knowing the without one is New Hampshire folks these are. Questions that you need to be able to answer if you're wanting to pass any inheritance down to your heirs and so this guide how tax reform affects high net worth investors is available for free. All you have to do is call 803934001. Again that's 803934001. Or go to Armstrong advisory group dot com 803934001. Security suffer through securities America incorporated member finreg SIPC and advisory services are offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. Precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally we just make sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency on guaranteed by the bank and may go down in value leader back a step ahead. Many believe that the incredible success we saw on the markets last year was fueled by the promise of tax reform president trump signed the bill just over a month ago and the markets remained strong with the. The quality of optimism about a repeat performance in 2018 Titus is very strong and I've got a new guide out this month that breaks down how this new tax bill will affect you especially if your high income earner this new guide we'll break down the changing tax brackets how the bill affects retirement savings as well as what it means to the federal estate tax let my team at the Armstrong advisory group explain these changes and how old that new law affects you call right now feel free guide 803934001. That's 803934001. Or download it right now at our strong advisory ducked out. Securities operative securities America incorporated member finreg SIPC advisory services are with the securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group the securities America companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. Do you think there are better than one but everyone knows that that's where offering to balance the one taking. You can he added tax and wildcat mountains in that same day Imus. There's just twenty minutes apart in the number ones out in the heat. Do you know anything. Once again WR downhill this winner at added tax and wild cat nap. Cricket dot com for more information hi this is Barry Armstrong and I 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 and 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 25%. Annual percentage yield this is an online product only and there's no minimum balance required so log -- to leader bank dot com and sign up today this rate may change without notice that don't delay log on to leader bank dot com get all the information about this great offer and sign up today before the rates change. Free online banking with leader bank's new. 25% annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. And me. This is the financial exchange with Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day you're sick leave your world stay informed and up to. About economic and market trends plus breaking business news every day. And now the financial exchange with Barry Armstrong and sharks. Three big stories to begin to show. Today. The first one has to do with Hoover and their efforts to combat their repeat shall issues. There reputation took a bit of a hit over the weekend we'll tell you how and then drinking alcohol. How does that impact your ability to live past ninety and then there will be taking a look at Albertson's. Acquisition of Rite Aid hi everybody it's Berrian like with you here on a Tuesday morning in. You know the this story about Hoover. That is it just. Eat can't imagine possibly how it happens and whoever eats driver Michael was allegedly allegedly shot and killed a customer during the delivery. Yeah as Terry just clarify there customer and shoot and kill the U restarted the driver four Hoover. Murdered in Atlanta customer of Newbury allegedly allegedly their five shots fired. They haven't disclosed the person's name by five shots fired to confidently Volkswagen and pretty much unidentified it's been Newbury strap her I mean this company just. Has issue after issue after issue you know the new CEO. Your car showery has been trying to clean things up left right and senator. But I mean. Here you get it the issue again you've got these non employees are at their contractors. And technically I guess in there in their new code of conduct manual you're not allowed to you know carry a gun on you while you're driving but. To enforce that at all it doesn't really Pearson bought taxi drivers carrying. For self defense do that now the bailout to. I don't know just know they do. And the they're. This big when he shot the guy. He didn't shoot him once or twice he shot five times yeah absolutely what I would love to know eventually I'm sure they'll solve the crime and arrest the but what could possibly occurred at 1130 at night between customer and a new birth ever. That would cause the liver driver to shoot the guy five times and it's not like you can in the head. It's not like you care in our range at a time to deliver specific persons whose brands like this it doesn't seem at least like this was. Gang violence or something like that I'd seen the Korean in dispute between an employee of a large company and I'm not a template. Contractor for a large company and that company's customer. It's. Unbelievable now. When it comes to making it into your ninety's boos. Actually beats exercise this according to a long term study says don't stop exercise I like about thirty Amylin only and start drinking more heavily. NATO I don't know about more heavily. Study says that people who drink two glasses of beer wine today. Or 18% less likely to experience premature death verses is they're happier. And I'm in a lot of buzz Golan every night there or every day and date now on its outlook for you know colossal line. Wouldn't hurt anybody right. Vert and here's the more spreads dirt just repeat that exercise fifteen to 45 minutes today also you know saw less likely to doctor Richard death but only by 11% and wouldn't have guessed that drinking toys you know toys today would could decrease tired. Risk of death and more substantially than an actress so here's what you wanna do as you get older. If you wanna make an Indian ninety's you need to drink. Couple couples drinks a day everything in moderation you also have to be overweight. Participants who were slightly overweight but not obese cut their odds of an early death by 3% tips you don't wanna be skinny when your old either. Docket when they you know I'm learning and listening to the bones you know I think but here's the here's the most substantial one being listed having a daily hobby that turned up two hours a day everyday you're 21% less likely. So I think it just speaks the fact that having some sort of human connection that there having something to set your mind to every day is probably the single based injury to me sounds like it's all related to stress relief for a you know 8 PM daily pottery teach your mind off banks have couple colossal lines that. He's due to stress that ultimately it's just little overweight you know little little stress eating I don't have a ball ice cream you know. They actually say the reason. To be overweight is the issue too I talked to doctor about this because I dread this report in the past. He said one. When you fall down of your little overweight yet a little extra padding and you do tend to fall down as you get older silent lie. Wheat we've recently lost a French is 95 years old and as a result of a ball while. And the easily you of that but also with your little overweight you have stores so when you get sick. You've got protein stores and you've got fat stores your body can call on Wayne you're not able the likely about the flow rate. Yeah if you don't have any stores. I learned this with my own mother that she got sick when I at one point in the recent she had difficulty recuperating. Was she didn't have much in the way stores she said parents get married and lakers on interest with the death. Today that that those are the reasons you wanna be little overweight as you get older. Albertson's. Scoops up the remain. Or Brady. So right age if anyone's been following the pharmaceuticals business in CVS Walgreens Rite Aid room Friday has just been struggling to compete for a few years now there are really really. Taking it on the chin from the competitors and Walgreens attempted to buy it right into it by the whole thing I want about a whole thing got blocks they can only by a portion of rated and I had just this you know bunch of stories out there. Stock prices have been just. Crashing I think it got as low as a dollar 43 per it's two dollars and change now two dollars and change now so Albertson's which is a Boise Idaho based and food chain they don't have many occasions over here than any locations here in New England area about it. Big Arizona. Parts California. Toward you know those types of places and they're getting up ready I don't. I don't see this work I don't see this really adding to Albertson's and patent that your. Now the it's a tough business to be and it was already a low margin business the girls for business. Now you bring Amazon intuit and the delivery of grower treason you know again to go back to you or. Your your Amazon account and take a look at. Would industries you're hurting the most I know I looked at mine this morning clothing. Stuff that are advised CVS. And food because you can find specialty items on Amazon that you might not be defined in other places him. So we're gonna see what happens here clearly investors are too excited about it has raised stock is up. Two cents 1% on this new users up 20% premarket trading but I guess when you take a look at the real deal here it's only going to be a publicly traded combined entity. And this is sang to a 21 on Albertson's. Now. Steve Wynn not getting any severance pay after his departure from Wynn Resorts and of happen to a nicer guy now. You know or Fella. A man who. Knock against 330 million dollar severance sharks I've known due process here right now he's accused. In a trial who now they know of ability for him to defend himself. And he's out 330 million bucks presumably. The board Ian the executive board is doing some deliveries or tenured determine whether or not he's going to be getting it severance. Otherwise I'm sure that you could hold the board libel suit. Presumably they're doing their due due diligence and if they came out this quickly to say that he's not in the severance my guess is that they probably knew something with the men have a little bit tentative evidence they might have a little bit of information as just a hunch just there's lord has in particular in the past been called out for its you know. Over the connect. Connectivity to Steve wing CEO and really not holding in his feet to the fire for others in the past it would not surprise me one. How much income do you need to earn every year in order to be considered in the top 10% of earners across the country. That's maybe it's it's a measure of financial success not necessarily happiness but how much money yet to make. You think about all your friends went to college with you know leaders or all of the people you went to high school with their all the people living your community. If you go to the larger community which is the continental United States you say. How much money do I have to make every year to be in the top of 10% I've got the answer based on 2015 tax data. The top 10% of US taxpayers. Reported adjusted gross income of at least a 138031. Dollars to if you made a 138 grand. In 2015. You're in the top 10% today it's probably more like 24550. Due to replace it for Tony seventeen bad. For 2015138000. Put in the top 10%. And you received 47%. Of all adjusted gross income. And get this folks you paid 71%. Of all federal income taxes for the year. Is that a blatant but that's precedent you know the I I look at that and you know we've had conversations about value added taxes in gasoline taxes. One of the reasons I've always been a proponent. Of those types of taxes is it to so many people that pay no taxes. They pay no income tax at all. In the only can tax in this if you tax their consumption while if you make a 138000. Dollars you're in the top 10% if you make a 130. There. 130000 dollars or more per year you're. Earning 47%. Of all be just a gross income in the country in your pain 71%. Of all the federal income tax yet it seems to me if you talk about widening based on the time that have a talk about you know why in the taxpayers why would ensure the forecast. Well. The the reason is the people on the left are very close to the they would vote. Liberals and Democrats would vote against that because they say well you're. You're taxing. The war that same rate that you're taxing the wealthy. The that then the flip side of that argument is the federal gun you know if if you're in the top 10% your pain Elvis 71% Zacks number 50% of the people in your country pay zero income here's the easier argument to make that side of the clinic while. If you raise the gas tax it's going to decrease consumption of gasoline and decreased consumption of you know. Environmental age could careless about. They claimed a Carolina. So. Next will be joined by Simon right from the economist to talk about electric commercial vehicles I'm skeptical I like I'd like electric cars but I'm skeptical about electric commercial vehicles why. I'm not sure the batteries exist victim power of these things yet. Yet being the operative word that's next from the when he talks. The financial exchanges line on FaceBook and you do want to Berrian chug discuss the issues of the day and see which one smiles the most. It is a financial exchange radio network. Hi this is very Armstrong last November my firm gave away a guy that outlined the seven signs of an impending market correction those signs included rising interest rates and overvalued equities and as we've seen over the last week those two issues have had a major effect on Wall Street's recent performance is the worst over well time will tell but there's a lot of people who were uneasy about what they're seeing in the markets if you're one of them then let's sit down and review your investment strategy if you're working with another advisor that's fine coming in get a second opinion -- cost you nothing and you might learn something about your portfolio I've been helping my listeners with their financial planning needs for years and I'd like to help you to call today and set up your free consultation at 803934001. That's 803934001. Securities offered to securities America incorporated member Finneran SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Advance the state claiming has many benefits including avoiding probate passing your assets along to your family possibly eliminating estate taxes and perhaps most important protection from the nursing home each week Todd let's do a partner go off from Cushing in Dolan post the legal exchange radio show and he educates his listeners by telling them how to protect their assets from high custom nursing homes the state claiming has many benefits but if you don't plan accordingly your short miss out. Cushing in Dolan is put together a brand new guide told the top ten reasons to do a state claiming minute you'll find strategies that can help you navigate this complicated process while learning what to do and what not to do when it comes to setting up your life a state call now for your free copy an 8668485699. That's 8668485699. You can also download it right now from their website legal exchange showed dot com Cushing and Dolan has been helping families just like yours who Thursday claiming for more than thirty years give them a call yet they're free guide and let them help you to you only 668485699. Or download the guide had legal exchange showed done. Com hi this is very Armstrong and I 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 an. 25%. Annual percentage yield this is an online product only and there's no minimum balance required to log on to leader bank dot com and sign up today is rate may change without notice so don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates change. Free online banking with a leader bank's new. 25% annual percentage yield and no minimum balance and remember this product is only available online so log on to leader bank dot com right now that's leader bank dot com leader bank a step ahead. Securities operative securities America incorporated member finreg SIPC advisory services are with the securities America advisors incorporated Barry Armstrong were presented at Armstrong advisory group the securities America companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. If you missed any part of today's show not to worry good financial exchange show don't come and click the listen. Then click on the mend and catch up on every segment. You'll also find podcasts of all of our poll shows just punch up that listen button had financial exchange show Doug come. Relocate your business to the United States Virgin Islands and you could reduce your taxes both personal and corporate by ninety. Percent to learn more. Call 855622. 3634. They'll mail you a free report that will teach you how to reduce your taxes by 90%. 8556223634. We are joined now by Simon right from the economists the title of the article is opportunities are opening for electrified commercial vehicles and you know we've obviously seen tests on me and and other companies make significant inroads to the new personal vehicles. But as Simon thanks to join us what is next on the commercials commercial side for electric vehicles I've heard rumors about these you know big trucks were a start seeing how realistic is it that they start making inroads into that bad area. Well you out of all the people I've been around and that operate he. Big trucked in 293. Putts on the Leno about. And Everett tries picking targets I don't want to open. The other big dial the bell off. His but he have a maximum points and our trees on the track so very brilliant Petri. So is likely that the economic model works quite some time because. Accountants is the country's oil leak into the the dual boot him out there and hold. Don't turn could conceivably be picked up on the road. I mean I walked into his problem of epic. So you likely won't see a big you know electric powered semi truck for a wide it send your article that these things would wave you know what four times more than indeed the diesel engine you'd have to put in there are so I can see where that would. Cut down capacity where do you think the opportunities actually lie. Well I'm not positive what the result is an indefinite a couple of what's interesting about commercial vehicle is that an article by a has people as well as. Businesses are commercial vehicles but it total cost loans should count. And small black and resolve all ought to pick a big big difference if you'd like liberties. But it used to Deutsche. Call it around and not part of the body started to do CytRx amusing electric vehicle be much much bigger some businesses some of their ball won't let the companies are using those sort of smaller electric delivery and collecting a water or. On the other courses boxes where it was during electric buses being rolled out. Around the world might be trying to. Yeah issue we expect adoption to be a lot faster in areas where gas is just much more expensive battle in Europe in what gas prices India Canada significantly higher than the US. Got into a good question I mean that's certainly hospital like the company now at a vehicle that could bring up a benefit but need to be sort of so important historic Scotland trip. There are regulations for help with boxes to local authorities. A big schools to clean out there weren't policies of the sort of a renewed popular in Europe but that the people into the band coming in in many it is. I'm electric our bosses. You know predictable apartments and there's little bit and I thought that it will no inflation is not is another another whether it would be useful. And I mean they're any rumors around you know just. How quickly these battery advancements are being made you know are we on the edge of some big new technology that's really going to allow us massive more capacity years it. It seems like it's been slow going I guess would be quite an advanced battery technology. Are you you're you're you're you're you're right it is it's an ideal place partner has been I mean book. To three years ago. Oh was up or mole like outlawed even those lost two years were getting how to coming out. He has the ball pretty. And having some problems are Chicago to 200 mile singled out and we've got the suddenly. I'll call and in bewilderment that you know decent. About Aruba. So close to running so Arlington dot is being tackled. What about that as well written. There ought to our technologies to salute by which we have seen them and yet but and don't talk a little about dot. Mocked it increased physical but in my own country and it might be difficult but thinks slows the progress on allotment. Is there one company you're pointing to today that's really I guess other than Tesla that seems to really be making the inroads to these commercial vehicles. Want to know what Tony. Is what is really happening. Chinese cities that the epic as but. That the problem is. As it used to it copper outlet. That Shenzhen well. As a place it's costly to Boston. We've that we would have liked about it is not about you and crossed across an electrical he does is it column. You know around the world. And holdings growers across as calm down. Very interest are well Simon right from the economist joined us today the title of the article is opportunities are opening for electrified commercial vehicles thanks for joining us on. It or texting is the focus has really switched. Two electric. Verses ten years ago. You know everybody was convinced that natural gas was going to be. And they're still there are natural gas filling depots and there's still natural gas vehicles you buyout ponder this runs on natural gas. But boy they've made zero progress they'd be just the very rare in you to get news in an area like China where they have access to natural gas. The you'd be doing so it must still be battery technology must still be. More efficient than even natural to last year and I know the and I know the pollution from that gas is significantly less than diesel lower gas but I think that they're just trying to really make the cameras and batteries that thing that seems to be the gate area for growth if you're looking to China's serious issues trade blade it dose not just China though EU look at South Korea if you look at Vietnam. You looking at parts of Pakistan and India via I mean Michael that the cities in terms of pollution and then you can see just how bad the year quality like it's not this is done. Mildly bad air quality it's like a multiple of what is acceptable for human existence. And and people are dying thousands of people are dying in the top arrested trying to go for round in one of those go go visitors they all hang in our go to Seoul Korea the is adding that and the act by sudden worked in Seoul South Korea for a year he's a runner he couldn't do it Cindy and her to go for run ins and soul is. Britain modern city to modern senators were out in in Asia and today you you can't exercise there at least not outside. Coming up we're talk about gun makers. You know after the Florida shooting last week. Usually you'd see an uptick in gun sales not happening and where to take a look at gunmakers are really. Even as the threat of regulation receipts that's next on the financial extra. The financial exchange is alive on FaceBook so make sure like your page and watch the guys break down the latest on the market 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 location bank locally owned by your 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 god guaranteed by the bank in May go down in value leader bank. Let's look ahead many believe that the incredible success we saw the markets last year was fueled by the. Promise of tax reform president trump signed the bill just over a month ago and the markets remains strong with plenty of optimism about a repeat performance in 2018 Titus is very are strong and I've got a new guide out this month that breaks down how this new tax bill will affect you especially if your high income earner this new guide we'll break down the changing tax brackets how the bill affects retirement savings as well as what it means to the federal estate tax let my team at the Armstrong advisory group explained these changes and how old that new law affects you call right now be free guide 803934001. That's 803934001. Or download it right now at our strong advisory ducked out. Dirty suffer through securities America incorporated member finreg SIPC advisory services are into securities America advisors incorporated Barry Armstrong were presented at Armstrong advisory group in the securities America companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state advanced to stay claiming has many benefits including avoiding probate passing your assets along to your family possibly eliminating estate taxes and perhaps most important protection from the nursing home each week Todd let's do a partner of the law firm of Cushing in Dolan post the legal exchange radio show and he educates his listeners by telling them how to protect their assets from the high custom nursing homes estate planning has many benefits but if you don't plan accordingly your short miss out. Cushing in Dolan is put together a brand new guide told the top ten reasons to do a state claiming minute you'll find strategies that can help you navigate this complicated process while learning what to do in what not to do when it comes to setting up your life a state call now for your free copy an 8668485699. That's 8668485699. You can also download it right now from their website legal exchange showed dot com Cushing and Dolan has been helping families just like Georgia Thursday blaming for more than thirty years give them a call at their free guide and let them help you to you only 668485699. Or download the guide had legal exchange showed dot com. Are better than one that everyone knows that that's where offering to Allen's own one. You can add cash and miles cat mountain illness paint on the the only. They're just twenty minutes aren't in the number one's in neat. You out and then once again WR downhill this winner at added tax and cloud cap Mountain. -- out and you can't. Dot com for more information are are strong here and I'm joined by estate planning attorney Todd what's key from law firm of Cushing in Dolan. And we're talking about reasons to create in a state plan this one really hits home. Howell Todd can you provide for special needs child or grandchild. Without placing any benefits. At their currently receiving from places like Medicare. It in jeopardy. You know and it's not even just like Medicare thing you're right special needs children that the biggest issue there is. He might already be receiving some kind of government benefits that the Jewish. And and people inherently feel that they have to just inherit their special needs child. Because of their fear of losing the government benefits when they get all this. And I wanna make it crystal clear a great reason to do estate planning is you have a trusting you to not have to just inherit your special needs child. You can give them the same amount of money as you can give your other children who are says the trustee of that truck would have the children's. Who is at a Leno is a sibling who better knows the needs of the child that sibling that brother or sister again. So easy use and not turn uncle to a could use a family member who understands and that way you inside your trust your your family trust. Is a special needs share that allows money to be paid out to the special needs child to better their lives. With out jeopardizing their government benefits and that's exactly what you want. He have a special needs child or grandchild that's a terrific reason to create trust and do an estate plan. Call Cushing handle and and receive their guide it's called the top ten reasons to create in a state plan. 8668485699. Toll free. 8668. Or eight. 5699. If you're so inclined you can download the guide on the web site it's legal exchange showed dot com or call told free. 8668485699. Armstrong yeah. So I'm bringing you the best in business and financial news every day this is the financial exchange radio network. Gun makers are struggling. Remington is near east bankruptcy filing. COLT. Completed its trip through bankruptcy last year. And Smith & Wesson another new income Colton Smith and listener signaling the company's. And there are their stock prices sagging profits are down. Pretty much the the only companies to be performing better in the Obama than of the trumpet there. The big the big cause here I think a lot of people who have resources and understand it is when you win and you know when investors in way consumers are concerned about the looming gun regulation. They tend to buy and you have not been seen and drug administration for obvious reasons says there's no real concern at this point about federal. Action. Background checks are down V you mean as a he would background checks. They fell 13%. Year over year in and that's even after the Las Vegas shooting were fifty people were killed we don't have we don't have really good three. Total gun sales across US on a number that's actively capped but that's a pretty good proxy for his army background object they do the federal level. Pretty good proxy for me people action Hastings and typically. The last. 78 years you saudis are prices jumped up after these things and it's not happening in these government inspectors are really in pretty dire straits. Black Panthers the name of the movie Tucker what did it how did that it was rotten tomatoes because they're sure doing while the box office gathered eighteen million dollars capsule to all the Robinson is actually just looked it up 927%. And that's it. Fresh tomato. That's my next movie an echo of the go to the movies did you go to the movies. Back Genesis of black panther. Grossed 202 million dollars in the first weekend which is a pretty significant number at the Disney product yeah. Does the does the marvel. Teamed up on this story comic book written. Thank it's a Star Wars last last Jett died the first week ended 221 so pretty close the last hold out now force awakens in a way that first came up efforts reduced to forty. So and how this'll do internationally is an all black cast now and that's that's been a concern of Hollywood in the past that it's not going to do action never got a black cast. Has this this movie seems to be defying all the expectations around he used to noted it's gonna see. I I haven't talked anybody's seen in Hampshire this coming weekend a lot more. It's gonna replicate that that number I think or come close to at least I'll probably go to war is gonna get out personal review unit to assist. And I've seen a lot of it Whitley is the last time a movie 97% runs. I remember you ever tell me and I I don't remember any meaning in the nineties. Star Wars he loses a bummer to know now it was so mayors did pretty well brunt president well like 93%. Will write to me this has to ratings rate their own ratings and then the viewership for gather there main reading is how you average all the critics reviews into one percentage whereas. They give you the same percentage but in terms of fan reviews like if and one. Is that a little more accurate outside because like. The critics one for Star Wars the second one the last shot idea was 93% for the critics right. Fans like 62%. Resembling that so and I thought that it was right online with that I had thought that movie was garbage her. If I look at the audience score from 177%. Of all which surprised the guy that's analyst at fund. Twitter FaceBook people just doing this is fantastic written. Peter sales have clearly been you know crushing I think they said that this is in its lead when he Atlanta theaters they. Found a way to sneak in 84 showed tame Showtime's in one. 84 and 180 day only one to save all the different theaters think it's probably a multiplexes Friday to Catholics got by got tons of screens 84 days the offset a very large black population in Atlanta they're really tense Korean shown at something like I'm one theater where how many people in Norway. See how many pipa in Germany. Because it is about and now the European population is larger than the American population. Will saint I think this can do pretty well internationally. And we'll see find out. Advance the state playing has many benefits including avoiding probate passing your assets alone to your family possibly eliminating state taxes and perhaps most important protecting. Protection from the nursing each week Todd let's give partner with the law firm of Cushing and Dolan. Host the legal exchange radio show any educates his listeners by telling them how to protect their assets from the high cost of nursing homes. Estate planning has many benefits. But if you don't plan accordingly you're sure to miss out fishing and dole has put together brand new guide to the top ten reasons to do estate planning. If you'll find strategies that can help you navigate this complicated process. While learning what to do and what not to do when it comes to setting up your life a state. Call now for your free copy at 8668485699. At 8668485699. You can also download it right now from their website legal exchange showed dot com. Crescendo who has been helping families just like viewers and their state planning for more than thirty years. Give them a call get their free guide with them help you to call 8668485699. Or download the guide at legal exchange showed dot com. A study released on Friday by the Brookings Institution finds that most borrowers. Who left college owing at least 50000. Dollars in student loans in the year 2010 had failed to pay down any. Any of their debt four years later instead they're bounces on average had risen by 5%. Any is that keywords here more than 50% of people who have borrowed more than fifty K. Have not paid down any of their actual debt that was never mind what does it mean the ATA. You borrow the money and then does mean they went on to grad school they went into deferment if it or is it now they just said. AIO fifty and I'm never gonna make that much money on there I'm not gonna pay a nickel both. Yeah I think it could also mean here that you haven't paid any of down meaning your interest has been more than your actual payments so you have been accumulating more interest and you action and paying off when one is also a possibility here I don't know because I know young lady she's got in the forties. And she's make and you know pretty hefty payments. But it balances and and by the interest rates are high but to not credit card. Now there is or is there in the like. Anywhere from five to 7% people should be alarmed. Let's not let's not pave over this. This is a very very serious issue of more than half of students with balances of fifty K are not making their payments because. Those people that have bounces over fifty K they might be a minority of the actual borrower's. But they they make up 50%. Of the total student debt. So it it might only be you know let's say it's only 10% of Barros had borrowers have balances of fifty K which I'm not sure what that number actually is. But it makes up 50% of that total debt to them they can payment tsunami and former Reagan payments. So you know you could extrapolate that probably a quarter of the total debt outstanding for student at that there are having payments made it pretty much in default. That's pretty concerning now. Yeah I guess if you're looking at for the stock market perspective most this isn't backed by a single financial institutions like HSBC and applause back at a got a bad back. I'll bust that's less than if it's our tax dollars at work. Yeah reminds me of the story that we're gonna have for the moral. Which is related to pension Ponzi your work tennis team to us tomorrow at the this is a story Michael we've today you'll be on there you can you can listen to it. These are predominantly teamster pension funds that are grossly underfunded and I think you have something like. Or one and a half million retired workers. Whose pensions are gonna default. And there's the money didn't they just didn't put the money away and now the issues. You know do you let them default or does the federal government stepped in. And subsidized. Teamster pensions war that's a tough one. Exactly his. Then they eat talk about the the camel's nose under the tent. Think about all the state workers thing about the wipers in it loses north hullabaloo Preston was it north split which town was. In Rhode Island it defaulted on their pension plans. Is. Cranston now with the north Smithfield. And anyway at a town in in in Rhode Island. ID you know he would fire chiefs and cops and yeah that lost 4050%. Of their pensions and this is back when you're in college Tucker is this happened the number of years ago. And now you've got and that is a small group there's maybe 4500. Employees lost their pensions or had pension reductions. You're talking about. Be in the story that we're gonna have been two more show. Talking about over a million workers retirees current workers. Or at risk of losing their entire country was just like the central falls from federal false thank you can you hatton is another issuing grants and to. Map grants and Andre is a matter at all to do other central forces. That national one and then there's one down in Alabama as well. Like 1050 yen else workers lost their pension central falls Rhode Island Willis in 20112011. Now so. At any rate that's that's something that's fodder for tomorrow's program a little bit of an advance tees. What's the best city. In America to air B&B you're not Boston the best city held there. He is Connecticut down Virginia Beach, Virginia be trailing by the city New England. Is for it for him and in New England in the best when the nation is Virginian Virginia Beach bridge for a section number twos so what does look that was. How much you could demand in Renton vs you know the cost of your ownership but how much was how much the home cost how much mortgage do you have on it so how profitable is the actual you know the to renting a beer in view what they found is real states pretty cheap in Virginia Beach but a lot of people visit is a lot of military people there is lastly for acres not that I would air being in place to go to college kids on spring break but if you decided to. Pretty Oprah just put in the prior via a contract that if they repair properties area the pay you know. Lots of money. You don't go after a broke college kid was 50000 dollars didn't loan go after his luck the coauthors Paris or can now afford to send their kid to us at spring break in Virginia Beach detailing your the if you're renting an apartment if your kid graduates college and they moved to New York to rent an apartment moment death cosigned. The idea if you don't have no way you're getting an apartment in Manhattan if you don't have 200000 dollars of income. They're not getting an apartment Kos and Kendall landlords are just say yeah he in and defeats like two or three people. Bettors sunny all the parents have to allow the race. I've been there to not know about the NASA top ten Virginia Beach Bridgeport Charleston, South Carolina Albany, New York Cape Coral, Florida. The Akron Ohio Jacksonville Florida Philly PA Indianapolis and Cleveland Ohio with a top ten the worst was San as a are we doing a review of the video you know next no we're not doing a review. We're doing it. The latest hit a media video game industry and a completely different formula. Where the game is free and their companies profiting big time really. They're games for right so that's our next topic on the financial exchange radio network. Vote on our daily poll question had financial exchange showed John come one you're mayor buyer of the media player and watch the show while you work. This case the financial exchange radio network. There are a ton of reasons to do estate planning certainly you wanna protect your assets from probe race that makes sense you probably want to eliminate any possible estate taxes that also makes sense what about making sure that your assets are distributed where and how are you actually want them to be instead of hoping that things work out for the best if these questions mean anything to you when your family you need to get Todd bug skis brand new guide for this month the top ten reasons to do estate planning. Let's do is a senior partner at the law firm of Cushing in Dolan and hosts the legal exchange radio show each week on the station he knows the horror stories of what happens to families that don't invest time and estate planning don't be one of those families call right now and get your free guide at 8668485699. That's 8668485699. Dogs firm Cushing and Dolan are experts in the state claiming an elder law and they can help you the same way they've helped so many others for more than thirty years old now and get your guide. 8668485699. Or downloaded right now and legal exchange showed dot com. Hi this is very Armstrong and I'm speaking to business owners everywhere who listen to this program the United States Virgin Islands are great place to locate a business they have a tax incentive program offered by the economic development authority that could help save up to 90%. On your federal income tax here's Wayne bigs executive director of EDA. This is a program us. Fully approved by congress has been in existence for about 45 years that we have several companies that are doing that Carly and we effectively reduce federal income tax because we do Ameritech system where we use of federal flawless with the money CC territory and a fogleman has allowed us to do that to increase economic development inventory to encourage economic development unit territory sort of allowed us to tweak our tax rates if you're. A business owner looking for tax breaks talk to the folks at the US VI economic development authority and learn how you can put incredible capital back into your business log onto their website its US VI EDA dot or best US. VI EDA dot org. If you're landlord looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks mostly in the reduce local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank required to zero and technology tell them the -- he ran team at 781 at 6418691. That's 7816418691. Or visit Z Rand dot net stopped chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot net. Many believe that the incredible success we saw on the markets last year was fueled by the promise of tax reform president trump signed the bill just over a month ago and the markets remained strong with the quality of optimism about a repeat performance in 2018 Titus is very strong and I've got a new guide out this month that breaks down how this new tax bill will affect you especially if you're high income earner this new guide we'll break down the changing tax brackets how the bill affects retirement savings as well as what it means to the federal or state tax let my team -- Armstrong advisory group explained these changes and how old that new law affects you call right now be free guide 803934001. That's 803934001. Or download it right now are strong advisory ducked out. Securities operative securities America incorporated member can rent SIPC advisory services are with the securities America advisors incorporated Barry Armstrong were presented at Armstrong advisory group the securities America companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. Security suffered through securities America each member finreg SIPC. Advisory services arbiters securities America advisors think Gary Armstrong represented if Armstrong advisory group in the securities America companies are unaffiliated. The financial exchanges all over New England go to financial exchange showed dotcom and search for the station closest to you this is the financial exchange radio network. According to 2017 global games market. Toward the video game industry was expects to generate nearly a 109 billion dollars in revenue and 2017. So a huge industry and dad joining us on the show. Is serenade them and from the Wall Street Journal to talk to us about a new game called for night which seems to be completely. Shaping up the the business model of the the gaming industry that's going on there. I so we talked just about the business model of this one game vs traditionally what you've seen for these higher and bigger this isn't you know this is candy crush this is one of these mobile games from what I understand it's a pretty. In depth. You know high cost game to produce. It's if come in that he'll get console like the Xbox and PlayStation and on he sees it if you're right it's not a mobile payment to get more sophisticated than what you would get a mobile device. I'm not clear how much money let's kinda and they can gain come apparently. Com developer that happened turbulent nation but it is it is PBP and if the credit. Quality you expect to see. Console and typically you'll pay. It prevents them at a very high and you'll pay at least sixty dollars per day AAA games and a company like Activision Blizzard narcotic act. More independent Albert made charged. Crusher thirty dollars and you'll see some for a little bit less but usually you are your case be up front. And what this company epic games it would support night is 88 originally released the game. For about forty dollars which is. Market pulling. Independent developer. And then that was back in July and then in September it released. A nether version of the game it's the same kind of characters and concept but has actively. And it made that converted three he you have to by the eight KB he'd go ahead eight and down on the urgent for free and it really tip off from. Serra. Was at epic games today creek where they were the first ones to actually create the strategy you know they've released a forty dollar version first. And then they create free mode of the game and they made what was it 150 million dollars on the free version alone is that correct. It's an act they haven't read an epic games hasn't scored how much money it made me. But is yet said that they meet somewhere buried at a 159 dollars and selling virtual goods. If it's very much like the model that you can see and mobile games yet it. Console machine. And what's really interesting is that good for the multiplayer games so you have to do. And in particular type is we have to have at least a hundred players at once online. Seeing a lot of people complain and if Italy clock money. That means they EL. Johnny wants the play with his friend Bob and Bob doesn't habit and then they can't play together so this I'm making a preacher to eliminate that barrier. He got the way it was here and having everybody can have and everybody comply. So clearly reaching a pretty wide audience with their with their strategy here is that they don't have they don't have advertising revenue coming in or anything like that race just in a purchaser in game purchases. Bracket it is a game Burgess says they can buy virtual goods to enhance your characters speak at by different weapons Wear costumes. Are but it happened that would like you can be an agent game. It is just decorative and in the injury is he lent herself on outlook weekly basis and hurt you know a couple of dollars here you can make your character. It'll look a certain way that's specific to your case. And and players he can really like that. You mentioned Activision Blizzard and the other companies that take two interactive and believe in the article. Are they gonna have to adapt to this strategy from epic games about the free. Became known I guess. LA it's hard to say what able mile and he accused chief executive said you know that its the idea of giving away at console game. Way Asia is not something that it economical for them because the amount of money they play developing their games. They're tired of waiting for. Henson and sophisticated then what they did this game might be perceived as. So. Is that that case there are other teams out there likely elections which the very popular heat seeking and that's not console and not PC and it is free to play. And also generate revenue from virtual goods. On and that's been out for quite awhile and having ill stick except for that game meeting might inspire. More ink like it to come out free and we haven't really seen a huge uptick in map though. Expect that port night at Nottingham console. A it's it's unclear and it's kind of you know sparked debate. Number of copycat. Beginning how much money goes into making some of these games today it is so it's a lot. It's it's a big risk whether I you'll make your money back in virtual card but a couple of properly he'll make even more money back that you wouldn't if you charge upfront. Because you're getting so many more players injured university. Then you might otherwise. Am pretty fascinating. Pretty fascinating article in pretty fascinating potential disruption to a massive industry that we're seeing here thank you for joining us there. And understand why would you make in dean purchases of something you don't have to eat doesn't make you any better like I thought if you had. A gaming advantage I could see like people would buy why would you buy that I was there. Upper middle class kids at McDonald's to do that spend money on and get like different outfits yet weapon upgrade slight weapon upgrades but yeah it's kind of a waste of money I begin myself I've never made India in nine game purchase like a cook. I could now is to be huge shake up this to be really really big industry. In yet another sailor I don't understand about today's UC market.