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Full Show 11-6-18

Nov 6, 2018|

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This is the financial exchange with the very Armstrong in chunks are now. You're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. Americans are inspired and were looking at record setting. Levels of people participating. In a mid term election. What does it mean well ordered take a look at what it meant historically for the markets hi everybody it's very and John Moody with you here. It's Election Day 28 team and. What it's going to be and actually one John we've never seen early voting of this magnitude yes. Combination of a lot of the a lot of interest in this and I think the other realization that's a lot more convenient to vote in advance and waiting and a big line. On Election Day 35. Million people voted before Election Day. That's a record and dubbed the others there's different spends on a very ended the argument that for the for the Democrats. Is that you've got a record number of younger voters who have not participated in mid terms they tend to vote Democrat but the other side is for the Republicans is that. Of those who vote early they tend to be older date and they tend to be more Republicans so. You know both sides are seeing a lot of energy in a lot of interest in this race. It would today what does that. Level of participation means different outcomes demeanor at the the that narrative is you know the Democrats are gonna take the house and the Republicans might leading gainers seater two in the senate. But is it possible to have that type a projection given the number of people participating I mean you're talking about almost double. The number of people who were voting early compared to the last mid term. Again I I'd be cure. A fool not to over analyze that because of this I mean like myself my wife we both voted early. You know we're not necessarily more enthusiastic about this race but you know what. It was nice going in at 1 o'clock in the afternoon which nobody in line two weeks ago or week and a half ago and just effortlessly. Make our vote. And it in our town I think 2025%. Of the people have already voted. So there is convenience factor but again it's going to be. If it is true that the number of young people and the number of Hispanic voters are are are way off the charts. That is probably not a good sign four Republicans in this particular race. But I hope. Keep up upside to that John is the Cavanaugh hearings. Inspired Republican voters unity unity the you know the Democrats have their inspired base yet. I mean Donald Trump is still filling Arenas and hearing no Democrats are doing what he's doing in terms of attracting crowds. No question about that and if this were to be held if this election was held a week before the capital are hearings began. I think what you were seeing right then a big gap between the enthusiasm of Democrats vs Republicans. Absolutely that gap narrower a lot during Cavanaugh. I guess my concern would be looking at former Republican perspective though. It would have been nice to live if Cavanaugh happened a couple of weeks later we got a lot of news since then. And a lot of the news headlines have not been particularly favorable for the president and another thing and as we analyze this is. I I'm really surprised the president has hasn't hit home. The issue this economy which is an amazing economy. And he's been really focused on on on that base in getting them enthusiastic which he has has you expand the beat him that. Which I think you're economic message would have done also I mean it's it's going to be close right now though that the heavy odds are that the Democrats do win. The house and that the Republicans do hold onto the senate so. That I think is what Wall Street has figured in I think that's were kind of counting on anything other than that would certainly be a surprise. OK let's walk through that scenario and say that back errors. Do you get then and immigration deal and an infrastructure deal in 2019 is that a possibility. And with that caused stocks to rally. Well let's first ball talk about what happens historically in elections in the answer here is that cat. If you look at it that the scenarios of what Wall Street likes the historically than amazingly the number one choice is a democratic president with an all Republican House and senate. That and enact a teacher back the Clinton years which were fantastic the stock market number two after that though is a Republican president. With a split. Or all Dem congress. So if that's the case. That's what's gonna happen if we're really gonna have a split or else the highly unlikely option would be an all. Republican congress and senate which is possible. But basically is Wall Street said they like a Republican president with a split verdict. In congress so I mean all the scenarios are generally positive for stocks and most importantly. Of the last eighteen mid term elections we've had. Eighteen for eighteen have been higher twelve months later regardless of the vote so keep that in mind in the one bit of advice very I would give everybody listening. Is that the real danger here is no matter how the vote comes out. If you get so depressed after it happens that you change your investment philosophy. That is a major risk don't let that happen regardless of what happens. So are you saying don't mix politics with money. Don't mix emotion with money and what happens as we tend to go we tend to get emotional with the with these situations. At the end of the day. Stocks go higher with Democrats or Republicans or anyone else never ever had office. Don't let that reality don't let that fact and also we go back over 5060 years very I cannot objectively say. One party or the other is better. Market is done very well when Democrats very under Democrats some very well under Republicans very poorly and Republicans don't let that reality. Make you do something irrational. The the main emphasis at least what I gleaned from here statement there was that. The market after mid term elections tends to do well why does tend to do well after mid term elections I can understand why it would do well after a first term. Mid term election like it makes sense that. After this mid term election president trop is going to be doing everything he can to get reelected in 21. You just gave the answer what happens is right after you know they all the votes are counted and Irving goes back to work after the mid terms. Leverage and power says okay. Job number 1234. And five is. 2020. And what are we going to do to get this economy really good. For the time leading up to the 2020 elections because while this election is important. If your job as president. Your next big report card is coming up from twenty points so. All right I predict what's gonna happen here is you actually will see a pivot on the part of the president. One that we expected might have happened a year ago which I think will happen now. Which is he will try to work with Democrats on many issues that they have in common. Namely infrastructure. Drug price controls there are many issues they disagree they agree on. And I think we'll do is we'll turn to the people say you know what I want to work with these guys. The payroll that always keeps saying it was a resist. They may look like the party that is not being cooperative which is a price that that that trump is paying right now. With this job market John don't think he works on immigration isn't there an incentive is going to be getting calls from his friends this corporate. CEO for insane hate Don Carl Icahn's gonna walk across the hall today. We need immigration we need cheap labor we need workers you don't think that's part of the narrative. All I definitely think it is a part of an art of the question immigration would be. Is there going to be bipartisan. Support for a plan. Will the Democrats want to work with the president to make an immigration plan work. I think I kind of agree if you I think you could be proactive on it and I think he's gonna compromise. He's gonna look for a way to do would deal. His best bet is to make it look like the Democrats are the ones were obstructionists. Because what would we then this week we. We've been down this road before assuming the outcome is split verdict we're gonna have exactly what Obama had in 2014. Which is. Very hard to get anything done. And young Republicans were accused of obstructing his his work well Democrats who have mixed that the accused of obstructing. The president's numbers fascinate to see what they can agree on race. That is why I think the president is more the dealmaker then President Obama was you know he Obama was. Very negative and it's obstinate where as president trot his history if you look back forty years it is histories career. He likes to do deals and and I think he would actually be able to do a deal with. Pelosi and Schumer in the game. It's and I think there's going to be a lot of pressure given what foresee for worker shortages. To do a deal on immigration it's tough because of his base of course EU it is but I I thought an interview he just recently gave a day or two ago talking about the tone. And he said he he might regret the tone that that's existed that on on his part but he said you don't like how to do this. To get what I wanted and I was up an against a very tough opposition so I really at the take a hard line. I read between the lines I kind of sense that he's seen. That he's gonna have to be a little bit more conciliatory. For the purpose of getting a better deal I am there to make change in him actually mean that we might actually get more things. Never know you never know exactly CBS had a heck of aquarius CBS had one heck of a quarter. They reported earnings I think I got the announcement either late last later this morning. And it looks like they're gonna close that Aetna deal prior to Thanksgiving is that possible. That's what they're saying they're saying they gonna close before Thanksgiving which it was of a kind of a surprise we're expecting hopefully by the end of the year. They did the dollar 73 they beat by two cents they narrowly beat on revenue is with the big concern here is going to be integration of replicas. Gary what they're effectively doing is they're selling a chunk of CVS or retail business in return for an insurer. Two big bat and they are truly going to be come CVS health which is their name. At the same time I guess when I was most impressed with the in this report is. They actually showed a 2% revenue gain on front end sales and that to me is the declining bad business of CVS. The bad business was up 2% that's pretty good sign so. A nice report for CBS. They are coming out with some innovative services as well kind of like a mini Amazon type product five bucks a month. And you get tremendous discounts on products and they're gonna deliver them to your whole the same day within an hour to. It it'd be depending on where you live I think that's going to be really attractive for young families that are. You know in and out of the doctor's office and needing the prescriptions filled in for senior citizens jot unity cup. It if it's February in this three feet of snow on the ground senior citizens socket and a slips necessarily wanna get their car. Drive through did the weather conditions and go to their CBS to pick up their prescription if they can get it. So it's delivered in an hour to I think that's going to be very attractive from a consumer perspective. I definitely do and they are really 100% focused like a laser beam on health care. And whether it be the minute clinic you know that course that Caremark PBM which is which is outstanding the pharmacy business. There's a lot of things going right for CVS I thought the one thing going wrong was the front and fact they're holding and they are finding innovative ways of delivering that product is very impressive is that I think was the big concern you know the I don't CVS stock in it you know you know you know in full disclosure. But the war it's always concerned me is if you open the door and walk it was CVS everything you see is about business. The retail. Whether that you don't see is a great businessman a clinic Caremark PBM the pharmacy those rob great businesses. Now the evidence sure there really re inventing this company and I'm pretty positive in the future. Do you go Walgreens in your town it. You know we don't. Would you prefer Bhutto in wooded or portly what is your wife preferred he go to defied her shopping at CVS or Walgreens. We don't shop a lot it either one we really prefer CVS to Walgreens and the reason I prefer CBS's I actually use minute clinic maybe once or twice a year. For things I don't wanna bother my primary care with the you know just little loose and stuff and I think they're very very good at Dinah Walgreens also has them but does CBS is excellent that. I prefer CVS they're both high end retail prices so that I think I'd rather do either Wal-Mart or Amazon when it comes the stuff you on the front end but. I might prefer to be CBS what what about you. I've I've CDS just as that's all we haven't found I I've not been impressed by the minute clinic every atomic going there to try to use it it's forty to fifty minute wait. He used it earlier appointments earlier on points of our party get in there 'cause I I'm not forty minutes and see the effort to see members well remember you can go on and we'll show you right on line along the way it is not a little about five minutes away so yeah if I went on one incision your way it is you know one hour. They'll decide if it's something really that urgent or not. Oh or wait and check back a little bit literature in all she can check in online which is pretty nice of you wanna do if it's a fifteen minute wait there. You go check in right the wrong line angle golden. Which which is which is nice it tucked. Talker so what we have a trivia question related to CVS vs Walgreen to throw it out there well not your question today a simple question. I think it's the poll question call us a whole question aft financial exchange show dot com is simply which do you prefer. CBS or Walgreens and so far CVS has lead the pack at 70%. All right coming up we're gonna share some information that we learned as it relates to pop Jeanne why did they close although stores. Will tell you when we return to the financial extra. Breaking financial news. The financial exchange with Barry Armstrong and chuck son on the financial exchange radio network as you age it's not uncommon to entertain thoughts about how your passing will affect your family legacy claiming is not easy. Well and make sure that our kids are left in the strongest possible position financially and otherwise but gifting assets to our children is not always the best way to make sure they're taking care of public -- senior partner with a -- -- of -- -- -- can help time -- an expert in this state claiming elder law and taxation and if you're in the process of -- -- you need to call him right now and get his new free guide to gifts or not -- -- in -- you'll find information related to the -- process with Texas issues may arise from a significant -- -- at home -- vacation property in what happens to the -- of the child has -- issues these are all things that -- need to consider as you begin your planning -- 866845699. And get this free guide to gifts or not a -- -- 8668485699. -- Dolan has over thirty years experience helping families like -- let them help you do call 8668485699. Or download the -- right now from our website legally exchange -- dot com. 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Again the number is 781. 86211. 90 hi everybody it's very Armstrong and I'm joined today by executive vice president from leader bank mr. Jake tool and were talking about this account today. It's called the Zuma rewards account and the thing that really caught my eye on this account is it's a savings account but sort of again if you guys are providing. Two point 05%. EPY. On that account how do you do. Yet it's one of our most popular. Retail banking products vary so. It's it checking and savings companion product the Oca and if you qualify. You get some great reward so for example you 2.0 5%. EP wise your savings account up 200000 dollars 100000. You get 1% cash back and all of your Jesus spending your debit card that's good eight get ATM reimbursements if you use another thing seat him. And so to qualify so I'm traveling in a Matta town there's not a leader bank branch nearby. I can use that ATM card number and be reimbursed the three dollars to order exactly. 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Security suffered through securities America income members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Join our brand new tax club by texting the word. Married to 63566. To send your first and last name and get involved today you're listening to the financial exchange radio network. Breaking news as it relates to job openings we got a jolt report earlier. And it indicated John I think about seven million jobs open across the country occur seven point oh that is. The second biggest number ever the last of the biggest number ever was last month so the only two numbers we've had seven million or above. Our last two reports the job opening in the labor turnover survey so seven million open jobs across the spectrum. And very you know I I I have a theory that that that incomes are finally starting to really explode. One interesting statistic of one to pass on the original report on the three point 1% annual increase. That that was experienced the latest reporting period. A factor that we've alluded to is what about the number of people. Who are retiring in record numbers because baby boomers are hitting 101000 every day age 65 being replaced by understandably. Millennial is making a lot less massive a lot of people in the peak earnings of their of their career. Retiring. And being replaced by people making obviously less money. That reality. What I read on this survey has a zero point 6%. Impact. Meaning you can effectively well. That means we are really in a three point 7%. Increase. Year over year in the real world if you're between you know thirtieth 65 is still working. That's a big number. That X it is a big number John and that explains a lot because a lot of us for the last two years anyway. As unemployment has gone down we've said why your wages growing. At a more rapid rate. If your theory bears fruit that explains why. Wages are actually close to 4% that's a pretty good number you don't really want wage growth to be much more than 45%. Five is. It five becomes really inflationary. Absolutely no I mean. The average worker is finally getting his to his and her duke. Which we're really happy for an ass and let us that we saw this coming we saw the 101000 people every day are turning 65. And we see an influx of the greatest most populated generation of all time which is one deals coming in and look. 28 year old some thirty year old make less than people in the prime of their career who. Or as in the peak earnings of their career who were retiring in very big numbers. You know if we we talk about wage growth. And yesterday we reported a puppet gene knows it closed and a lot of their De'Angelo stores in their puppet you know stores. The CFO role said hate the reason we're bankrupt is. Wages have gone up much faster than we anticipated and built our business model route and health care costs and came out. I guess they close almost a hundred stores and it looks as effect company. Wealthy those stores are that are being closed to be re branded as some other franchise would be again. Yeah 47 puppet geno and fifteen. And your your point is well taken if if you're doing really well making a lot of money and you know making. Hundreds of millions of dollars and years of national chain. Something like an increase in the minimum wage culture bottom line but doesn't kill you if you're you know fighting to survive which is that which is the mold the pop geno was in. Be honest than at a dangerous in between placed other they're not the local mom and pop. Homemade pizza place and they're not the other on the scale of a Pizza Hut and and and so they're kind of stuck in the middle ISIS'. The underperforming regional chain. If you're on the ropes this is on the can kill you and Andy did very well but it may have been the death blow for puppet gene knows. Which was in trouble to begin with. It is Election Day and the markets are opened coming up we'll get a full market update from Michael Armstrong. Find out how stocks are doing on this historic day it's day where we are set records as roads to the number of people participating in a midterm election. We'll hear. Like this on FaceBook and followers on Twitter. Show breaking business news is always first right here on the financial exchange radio network. Are you having problems the blocked sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently in believe me. I've had all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. Cult easy plumbing. Easy makes it easy they're experts they're knowledgeable they're courteous they will be on time to take care viewer issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems. They're history call easy calming at 781. 862. 1190s that 781. 8621190. Or you can visit them on line at easy plumbing MA dot com for more information. Massa master license number 10. 183 again the number is 781. 862119. 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It's not uncommon to entertain thoughts about how your passing will affect your family legacy claiming is not easy. Well and make sure that our kids are left in the strongest possible position financially and otherwise but gifting assets to our children is not always the best way to make sure they're taking care of -- let's -- senior partner with a -- -- of -- in -- can help time -- an expert -- estate planning elder law and taxation and if you're in the process of -- -- you need to call him right now and get his new free guide to gifts or not a -- in -- you'll find information related to the -- process with Texas issues may arise from a significant -- -- at home -- vacation property in what happens to the -- of the child has -- issues these are all things that you'll need to consider as you begin your planning -- call 866845699. And get this free guide to gifts or not a -- -- 8668485699. -- Dolan has over thirty years experience helping families like -- let -- help you do call 8668485699. Or download the -- right now from our website legally exchange -- dot com. It's pretty hard to find a bank that as -- checking and savings account that can provide a decent return and if you're in the market for one I've got -- deal that you're gonna wanna check out tie this is very Armstrong and I've been doing business with leader bank for many years so if you're in need of a bank with great rates on checking and savings accounts look no further than leader banks Zuma rewards account qualifying customers will receive 1% back on debit charges 10% back at featured businesses no minimum balances required and no monthly fees but that's not all leader banks zug will rewards account has a two point 05%. Annual percentage yield if you're searching for great -- it's time to call leader bank at 8776917900. 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Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency on guaranteed by the bank in May go down in value leader back a step ahead this is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks -- hassle out of -- today we're zero and leader banks all mine rent collection tool he went automatically -- tenant's rent and deposited into your account visit www. C Rand dot -- to learn more would see rent your payments for each unit to receive regularly on the same day every month tenants pay nothing in the first six months -- free for all landlords visit WWW -- see rent dot meant to learn more or call 7816418691. Time now for Wall Street watch a look at the market's performance so far today until Darian chug right here on the financial exchange radio network. Time now for Wall Street watching what. Coupon Peter bank with leaders consumer rewards account. Get 1% cash back with debit purchases. And an extra 10% back when you use your card featured businesses to qualify for these and other rewards called leader bank. 8776917900. Member FDIC. Mike Armstrong joins us now with Wall Street watching. Mike you got to travel theme Avis Budget marry odd bookings holdings. Yeah out all over the place here so why where we are right in the middle of earnings season and number of companies that reported starting over booking holding the owner and operator. App Priceline kayak. Opentable and number that it web sites to book both hotels as well as you know restaurant reservation in like that. They still short of expectations in the current quarter with that credit profit 3770 this year where as you know expected to around 3821 the revenue beat. And they also patients in pretty strong forecast for the current quarter earnings and those stocks up a little bit over 6% as well. But a nice sub theme there and in terms of the travel looks like people you know are still young get around when it comes to airfares and and cruises and all that as far as Wall Street right now it looks like it does not a lot of election date jitters Woodson. You know markets generally are up about best piece up about 13 of 1% right now just to accompany you mention Mary Ott had a pretty disappointing quarter at themselves. Core itself was fine but the guidance the rest the year was not great. And date yeah. Yeah techie metric that they look at which the revenue per available room was forecast to be down mainly due to black and North America that stopped off for half percent. Net Avis Budget to get really on the chin and it really has had a really difficult year this year. Missing estimates by 21 cents. Coming into the dust could practice their brief thirty to read and ending error at their full year earnings guidance. There's stocks was down nearly 10% this morning pared that back a little bit off about five recorders. But again the market itself overall. You know slightly positive. Yeah I generally slightly positive and obviously on Election Day things can start swearing probably in the after our street receiving depending on how things go and Apple's. Narnia absolutely all right Mike Armstrong with Wall Street watch like that's Wall Street watched. Presented by leader banquet leaders who will reward account get 1% cash back with debit purchases. And an extra 10% back when you use your card featured businesses to qualify call leader bank 877691. 7900. Member FB IC. So we've got an announcement as it relates to Larry Cole he's the third CEO of General Electric in the last eighteen months and he's buying 2.2 million dollars worth of stock. Does the bullish sign John I remember Flannery. Who I turned on him and about three months. He bottom much stock to raise so. Now under way in is this a lot to do about nothing it seems to me. Yeah I I think I think you you hit the nail on the head remembered Jeff Immelt bottom Thomas doc in his thirties and forties and fifties and yeah how about all work out I you know I also I mean this is a rich guy you might recall 2.2 million dollars. To wash its a lot of money to him. I don't know not all that much in the stock is pretty cheap so yeah maybe it nine Boxee saying it's by I would make too much of it though I mean he obviously believes what he's doing. Got its hands full but I wouldn't make too much at the the insider purchases and IBM however lately. Were a little bit more interest and a lot more people were on the board of directors buying a lot of stock. That stock is not quite a bit since that announcement so sometimes these are are worth while others this one I would make too much of yeah I I don't. I'm not paying attention to one thing which your perspective on an insider selling that's always bothered me when I see. You know leadership CFOs CEOs were members selling their stocks I think. That scares me more from the bear standpoint. Then I get motivated as a bullish perspective when somebody buys a stock is an insider. I understand we are coming from however in defense of the sellers there are a lot of reasons. Why one would sell their stock number one a lot of these guys and women. Have a large chunk of their net worth tied up in that one stock understandably. They have kids who go to college they like the buy nice house is that like the buy nice yachts there's a war. Whole Lotta reason they also wanna diversify the portfolio is because they're heavily into wants talks of I just take the other side which is I actually understand why do you be inside selling now to your point if you see five members of the board of directors all selling at one time. That sends a powerful message. But when thirteen groups of people buying or selling either way I think that is either positive they're buying a negative they're selling. It's buried here and if you're near or at retirement age legacy plan is something you're going to want to be mindful. It goes without saying that we want to leave our children in great shape if we end. But gifting assets away your former vacation property agree huge capital gains tax bro. If it gets used to sell that home. It's the bureau tax issue. Pop outs is an expert on elderly law and taxation he's been helping families like yours with their state plan needs for years to help you do. If you're beginning to think about legacy plan for your call for Claude Raines knew guide to gifts. Or not to the vote number is 86684569. Night. Gifting assets to our children understand it's something we we all wanted I wanna do migrant children. But it has special meaning. But if the children that creditors user goes through divorce problems can arise that could be disastrous. Protect yourself and your family by getting this free guide to give or not to you've worked a lifetime accumulating while. Now it's that you're forced to make sure that it stays in your family the right way call 8668485699. Or down vote that Ike right now from the website call legal exchange show. Dot com. What we got to curve ball last night win Amazon announced that they're not committed to each cute cute they're gonna do. And it was eight cute to aid to be yours Q2. Three day. Help us all understand what is Amazon doing with their next headquarters which seems to me to be another office well. Basically that's what it is I I think that they had the same concern that we expressed because one of the things we wondered about his. How is Amazon going to be able incorporate that many new workers in one place now we and our. Our sights on Boston which appears to be out as we speak but. In any one location. It's so hard to be able find housing. And and create an opportunity for 50000 people in in a crowded city that that's a tough move so. What they excited and I think it makes a lot of sense is split up into two locations. In there looking at one in New York. In the other we just outside Washington DC so 25000. Each ship but they're both. What they're both god forsaken its decent job that I would anybody want to be anywhere near the cesspool of Washington DC and why the long island city New York. I mean it's it's a dump if I I don't get it I mean I. I I get a tie I. I'm blown away. By what I perceive to be the ineptitude of this decision they'd be better off at a city like Dallas or Miami or Boston Withrow of Boston Boston would have been a great choice. The fact that the two get the average house in Boston just the basic residency requires a 1171000. Dollars a year of income. Get you into the market and as opposed to other parts of the country where one forward that now granted Washington is very expensive but Crystal City is a place York. Yeah that's true but I the answer is maybe we should go out half vampire like you said the 25000 for Boston. I would argue that we at luckily for specially higher education. But I I think that there's a major you know housing shortage here in Boston and I think that that was a major factor in this. And you know crystal Crystal City is a place that. It's it's got a nice urban feel to it but it's just outside the city it's little less crowd that's place rice that it's more affordable. You state for like a couple hundred bucks tonight that a 600 bucks. At the hotels there and take the train and you rated DC and ten minutes so there's some reasons why that might make sense also the political influence in DC. And trust me in the next ten years Amazon's single biggest challenge. Is going to be Washington DC. Beno. So if you think antitrust issues. I mean it's it's issue number 12 with three of them. They're big and and and the president indicated he's going after. He reiterated next couple days ago so I think from a political perspective they realize that. You beefing up in DC can only help them can't hurt them as far as New York I'm kind of with him out. He didn't think about your son right yet sunning grad school he's gonna graduate. And he gets a job offer he says you know beaten go to Silicon Valley. Eaton go to Southern California. He and go to. Cesspool Washington DC go to cesspool Long Island City where you stay at Boston I mean like the east and let these kids aren't stupid. And I mean. And it's not like you're working in Manhattan you you might live in Manhattan that you're that you're gonna commute to Long Island is that dump. Yeah I. I can't understand I I guess but I guess from their perspective may be they're figuring that you're fair or in downtown or in New York City you know in Manhattan. The cost would be prohibitive. Maybe they're thinking that it's. Less expensive right yeah queens prices have gone up but they're nowhere near Manhattan. I yeah I I I I wonder about that myself that out when I I don't I don't guess I I don't I don't understand why we lost to them on on that 25000. It in a it and the story of their lifetime spent about Warren Buffett. Buying back you know what I perceive to be an insignificant. Amount of his stock. A billion dollars when the guys at 903 billion. Wall Street making a big deal all the journals are runners Alyssa you know it is this as a signal should be used picture here understand this. It's it's 1% of its. Okay. It's not a large amount of money in terms of Berkshire's capital but Berkshire does not buy back stock and one of their criteria is that the stock would have to be selling. Any substantial discount to its intrinsic value for Buffett to buy would guess what that number was a buck and a half higher than the clothes on Friday. That was an all out screaming by the Wall Street that while. This stock is selling at way below its intrinsic value. Buffett bought it a buck fifty higher than this. Time to get on board bottom line is I consider Berkshire to be undervalued in its slightly overvalued market. One caveat. Buffett did a lot of his buying before the last month. And he wants the body entire company's first pieces of entire company second his stock third. He bought the stock before the last month the last month that'll do them much buying even though the stock was cheaper. That tells me he might actually buying other stocks so I kind of view it like. I think maybe the market is coming down to his levels right word is right now. And also yup he's also saying Berkshire's worth 207 dollars a share or more because that's what he's willing to buy that. If that makes a grab a pencil and paper methane to the other team does makes it Nathaniel Stewart from seeking alpha would join us next for stock talk. Actually have a pen to paper handy to write down the stocks elections now Nathaniel shares of the. It's hard to dial a phone or send an email list to dumb but it's easy to text we've got and tech sign up and running when you can tell us what you think right now by texting us at 63566. He skewered Barry and join our exclusive club this is the financial exchange radio network. This is very Armstrong saving for retirement is extremely important those of you who have put money away for later life are probably in pretty good shape but did you know that once you turn seventy and half you are required to start taking withdrawals from your retirement account of course questions to arise how much do they take when exactly do I take it can ideally taking it for whatever reason these are all good questions and you need to know the answers before you do anything I've written a brand new guide which can help you with this process it's called understanding required minimum distributions and it's you worst for free by calling 803934. Zeros or ones that guide we'll tell you how much you have to take out based on your age and it also explains an exception to the RMD rule as it pertains to your current employer plans call 803934. Zeros or one where you can download it right now from my web site Armstrong advisory. Dot com securities are with the securities America incorporated members in as the PC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. As you age it's not uncommon to entertain thoughts about how your passing will affect your family legacy claiming is not easy. Well and make sure that our kids are left in the strongest possible position financially and otherwise but gifting assets to our children is not always the best way to make sure they're taking care of public -- senior partner with a -- -- of -- -- -- can help time as an expert in -- -- elder law and taxation and if -- in the process of -- -- you need to call him right now and get his new free guide to gifts or not a -- in -- you'll find information related to the -- process with Texas issues may arise from a significant -- -- at home -- vacation property -- what happens to the -- of the child has -- issues these are all things that you need to consider is you begin your planning -- 8668485699. And get this free guide to gifts or not a -- that's 8668485699. -- Dolan has over thirty years experience helping families like -- let them help you do call 8668485699. Or download the -- right now from our website -- exchange -- dot com. Are you having problems the blocked sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently and believe me I've had all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing and their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. All easy plumbing. Easy makes it easy they're experts they're knowledgeable they're courteous they will be on time to take care viewer issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems. They're history call easy plumbing at 781. 862. 1190s that 7818621190. Or you can visit them online at easy plumbing MA dot com for more information. Massa master license number 10183. Again the number is 781. 862119. No. If you're real estate or property management company -- -- -- banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and real estate space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitize paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as ECH payments mobile banking remote check scanners and its innovative -- rent payment platform leader bank has a team of business bankers that are on call to help you and they'll come to your place of business and make it as easy as possible the number to call is 8776917900. That's 8776917. B 900 find out why many of greater Boston's premier property management and real estate companies -- leader bank as they're banking partner call 8776917. -- 900 or email BDO -- -- bank dot com for more information member FDIC equal housing -- Stay on top of breaking financial news by becoming a member of the carries brigade blog under financial exchange or does come in sign up today. I'll bet you that search of a maker of iron pellets for steel mills right. OK maybe now but maybe there is an investment opportunity here not Stewart is where it's seeking alpha Nat. Cleveland-Cliffs. Is a name that people may not be aware of why you like it. Chair yet it's a brilliant thing story right now are number Brees and I'm a 170 year old. Make Europe. Iron ore pellet that now it geographically protected. Great Lakes you'll market pop and the sole supplier to a client. Has the best margins and profitability in the industry. But what really makes it interesting right now at that turnaround story umpire management. Kind of looked at bouncy I investing overseas and stuff it really didn't work almost bankrupted the company. In the Argo Wawrinka gone comet. There is really a legendary you know. The refocus the company on its core assets. Current debt to match and manageable level. And then reinvested in the NASA which is it going to be servicing. Electric car aren't as the new. I facility on eight hit initiated the dividend. And I think there's substantial room for David Ingram now it's very cute that looks very interesting right now. Yeah fascinating it's a 170 year old company but he said you know. You almost drove this thing into a ditch now. Just a prayer that our management did that amount bet are known shortly yours ago. That was all done our perm management when they did use investment as pre overseas using debt. And that kind of imploded on them but relate to turn around complete there and make it compelling. Yet this one of those kind of good boring businesses that that they they tried to make a little bit more exotic previous management it dead right I mean this is the united got to cash cow and it's not good enough and I was. Really cash cow yeah like there or. Under long term contracts there are also wire. On to their customers. It's actually very stable cash will be is that there is going to be boring as it can make a lot of money. I'm and it's great very cheaply really. Now much over five times and actors earning. Now the raven each aren't able to issue a dividend to which is obvious and a great sign that they opposite the cash to do that miss upbeat trust now. It's related the Cleveland clinic but tell us what what what's going on here. So one has really really compelling it says it is very under the radar stack. No analyst coverage not even as he you know they'll visit the royalty I'm basically com North Shore is in mind it quickly and left. There on the Abby on the world interest on I'm basically a pure profit it's it's percentages of sales that you know up over the course of the year. All the wars sold under long term contracts come. As a world interest they have no capital expenditures but they're gonna benefit from 75 million dollars in the investment eclipsed just made in North Shore plants. Right now it's great to about a sport in person you know united. I'm very secure pastor in terms of unclaimed its senior in the debt security. Commutes could create a more likely percent built now that you shouldn't it it doesn't go up and traded paper and he'll. It go you have an opportunity to meet you reinvest that that could come distribution yup so either way. I think it's a very compelling right now. Is there much a competition in iron pellets for steel mills a Vista sells like a niche to me. It really has actually there. Eric equally producer. I'm iron ore pellet they're really sold out others Yuma. Other big integrated companies you've produced our palate but they're really the only ones telling him to a bunch of party. Com and so it is unique market in that's very misunderstood. And so Asia a lot of times value was found they said under a cloud or under a rock. This sounds like in the case of a Cleveland. It Cleveland mills is that it was it was under a cloud Ed but both the mark pretty much under a rock right. What what video are you know it's not investors weren't in that everybody is looking at art art technology and trading at a you know to keep what you recently that what the content trading at you know at. By six cards next year's earnings which is pretty remarkable. Clean up clips see LF and miss a hobby trust him he has to be part of the symbols are right. Matt Stewart thank you very much from seeking Erica. Thank you very Anderson thank you very much very a couple of Anderson stocks there are under a rock we'd say. FARC you know and that's how you find it yep time to you know there ones that don't get a lot of coverage. But date they have sound businesses. And you know sometimes job stocks are too small for you take an interest that with the wood to the market caps six. Tiny I mean they're very small but you know this company that talked about Cleveland-Cliffs has been around a 170 years. Yeah that got taken over by some you know some expert who came in and you know told them how to do things almost you know drove into a ditch. Now we're back to being good and boring and profitable like they always were and things don't really well. Now that it's it's just I have always been fascinated by companies like that. They use it seeing day in the markets today the Dow is up 88 points the S&P is up nine. NASDAQ is up 36 in the Russell 2000 is up to that's kind of nice to see on a day. Well where everybody's going to the polls at record numbers early voting almost double the last. If term election. Will be back in a few Berry and John. It's not too late to get a great grade and whole mortgage leader bank specializes in a wide variety of purchase and refinance loans that some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call lead 776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender. And analyst number 449250. Subject to credit approval leader bank a step ahead. Required minimum distributions are important and necessary if you were traditional IRA your employer sponsored plan when he turned seven in half it's time to take some money Colby Armstrong advisory group rate now at 803934001. Understanding required minimum distribution so that you're ready when your time comes that's 803934001. Or you can download the dead right now from our website Armstrong advisory dot com securities are there's series Merck incorporated number two wrestler DC advisory services are registered as America advisors incorporated Barry Armstrong represented their arms from advisory group the securities America companies are unaffiliated as you age it's not uncommon to entertain thoughts about how your passing will affect your family legacy claiming is not easy. Well and make sure that our kids are left in the strongest possible position financially and otherwise but gifting assets to our children is not always the best way to make sure they're taking care of public -- senior partner with a -- -- of -- -- -- can help -- -- an expert and -- state -- elder law and taxation and if -- in the process of -- -- you need to call him right now and get his new free guide to gifts or not a -- in -- you'll find information related to the -- process with Texas issues may arise from a significant -- -- at home -- vacation property in what happens to the -- of the child has -- issues these -- all things that -- need to consider -- you begin your planning -- call 866845699. And get this free guide to gifts or not suggest that's 8668485699. -- Dolan has over thirty years experience helping families like -- let -- help you do call 8668485699. Or download the -- right now from our website legally exchange -- dot com. If you're landlord 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 he rent dot net without the need to collect checks mostly in the produce 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 does he ran technology tell them the cold as he ran team at 781 at 6418691. That's 7816418691. Or visit C 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 7816418691781. That. Towards the end of the year now if you're over age seventy and a half. And you have IRAs are 401 k.s are 403 B is yet have to take out those required distributions before the end of the year. Otherwise you face and penalties Mike how steeped in the penalties be on our d.s that are taken out. They can be very severe so. Let's say your first year required distribution is. 5000 dollars and you fail to take that money out you can be penalized. Up to one half of what you're supposed to take out but didn't so let's say you didn't take any of your prior distribution you can be faced an IRS penalty in that case. Of 2500 dollars so it is a significant amount in in terms of you know that penalty it's not just that you face on that one year if you miss 2345. Years those penalty numbers to add up to significant amounts of money absolutely deserve this is something that you cannot ignore folks and if you find yourself where you find a loved one in the case where they. A didn't know about it largest beef failed to take action don't ignore address it. You know identify what the issue is how much you might oh. And get on it right away it might involve writing a letter to the IRS and explaining the situation but do not ignore the required distribution payments on your retirement account. It's required minimum distributions can be a little scary but our strong advisory group has a new guide out this month titled required minimum distributions. To help answer all of your questions all you have to do to get it is call 800. 393. 4001. Or you can also downloaded for free at Armstrong advisory dot com once again that number is 80393. 4001. Or Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Are you having problems the blocked sink or drain. What leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently. In believe me I've had all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. Cold easy plumbing. Easy makes it easy either experts they're knowledgeable they're courteous they will be on time to take care viewer issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems. They're history call easy plumbing at 781. 862. 119 B that 7818621190. Or you can visit them online at easy plumbing MA dot com for more information Massa master license number 10. 183 again the number is 781862119. No. This is very Armstrong saving for retirement is extremely important those of you who have put money away for later life are probably in pretty good shape but did you know that once you turn seventy in half you are required to start taking withdrawals from your retirement account of course questions to arise how much do -- take when exactly do I take it can ideally taking it for whatever reason these are all good questions and you need to know the answers before you do anything I've written a brand new guide which can help you with this process it's called understanding required minimum distributions and it's you worst for free by calling 803934. Zeros or ones that guide we'll tell you how much you have to take out based on your age and it also explains an exception to the RMD rule as it pertains to your current employer plans call 803934. Zeros or one where you can download it right now for my website Armstrong advisory dot com. Terry suffered a securities America incorporated members in SA BC and advisory services are with the securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group the securities America companies are unaffiliated. It's pretty hard to find a bank that as it checking and savings account that can provided decent return and if you're in the market for one I've got to deal that you're gonna wanna check out tie this is very Armstrong and I've been doing business with leader bank for many years so if you're in need of a bank with great rates on checking and savings accounts look no further than leader banks Zuma rewards account qualifying customers will receive 1% back on debit charges 10% back at featured businesses no minimum balances required and no monthly fees but that's not all leader banks zug will rewards account has a two point 05%. Annual percentage yield if you're searching for great -- it's time to call leader bank at 8776917900. In addition you'll receive a free information packet featuring a guide to Zuma businesses that number again is 8776917900. Or visit them online at leader bank dot com. Minimum deposit to opener annual percentage yield is ten dollars to 23% interest rate messrs. until late fees reduce earnings were subject to change without notice leader bank a step ahead member of the icy. And. This is the financial exchange with Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day your. Leave your world stay informed and up today about economic and market trends plus get breaking business news and every day. And now the financial exchange with the very Armstrong and chuck Exxon. It's Election Day at 82018. And we are anticipating. It today will set a record in terms of voter participation. For any kind of mid term election going back while probably anytime in history hi everybody it's Berry and John Moody with you here. As I said to election date when he teens could be uninteresting day John day I think. Probably around two or 3 in the morning we're gonna get a sense as to how this all settles out. Yeah I could go one or two ways. If if there is indeed a blue wave we may have indications of that shortly after 6 o'clock tonight with some of the early returns a command however if it isn't an indecisive and I and I think it will be pretty indecisive. Early on it could be a very long night in terms of deciding. I'm a do Democrats gain control of the house. And B if they do by what margin. That I think that's the big question tonight. There's still an outside chance that the Republicans could hold on to that the house. And Republicans are favored to hold on to the senate now they didn't hold onto the senate and lost the house. That would be a certified wave right now that's not the expectations but it's you know Radio One and eight possibility. Get a pretty good correction if that happens John if the Republicans lost both the house and the senate would you retire Thomas Petr feast called for 15%. Correction if that were to occur. History shows that. The market would be relatively flat that. It would certainly preclude. A lot of the optimistic scenarios. But remember the markets tend to increase about eight to 9% total return per year so we had a flat 2% that's disappointment. Yup that might be kind of what we're looking at I think the knee jerk reaction would be negative but I think it would come back just like gain weight when trump one. You know the overnight numbers collapsed and within a day they were awful lot so. Just be careful not to trade this because at the end of the day it's the economy that matters and the but that would be a negative to the market near term absolutely. Well speaking of trading the S&P 500 lost six point 8% in October 20 team that's a total return to two worst month in more than seven years since September. Of 2011 when it lost 7%. In its worst October since the index fell sixteen point 8% in October of 208. At the beginning. Of the global real estate crisis you couple that with Jeff Cox who's commenting in saying. Corporate profits are reaching their peak and history shows that that's bad news for the stock market so what ethnic. The things the stars are aligning with a lot of negative sentiment towards stock to gut the month of October which I think again. Safely agreed it was a pretty tough month then you've got this earnings reports saying well. Yeah you're gonna have a greater earnings year in 2018 because of the tax cuts but it's going to be tough to repeat that in 2019 what are your thoughts my thought is. Absolutely is not gonna be repeated in 2019 but I don't think that that's in really anybody's forecast. What I would remind people of is that in the first quarter earnings were up 25%. Second quarter earnings were up 25%. This year their of this quarter of the warning ahead of expectations 24%. In that environment we've had a market it's just slightly positive so effectively what we've had is a massive correction this year. We just haven't felt it. And you know from my perspective as a value investors stocks right now are cheaper than they've been in many years. Dating back to the beginning of this recovery because we're now trading at fifteen times earnings. Begin the returning it twenty times earnings now if last year the Dow went down 5000 points in one day he'd be going while. That's a heck of a deal stocks are cheap. We've effectively had that by putting 25%. More meat on the bone at the same price. The grocery store to get you 25% more of your favorite item the same price. Your feel pretty good about that so I think a lot of negative feelings are built into this market I'm not saying it's happy days are here again but. These are valuations were historically. Money put in right now I don't think you'll regret five years should now. That's just kind of that's marked out. What would about the idea John of starting to invest. Internationally going to places I don't know Europe for emerging markets South America China god forbid. I mean it is it time FDA has the American market matured is it time to take some your winnings a mean the American market the dollar strong. The American stock market has done very well it is time to you know take some of our profits and put them overseas. It very well maybe edit it it is is sponsoring a case of maybe you wanna take money out of the United States for new money coming in. Europe is just dirt cheap there there's no growth assumed for Europe. And you don't get any growth you're probably gonna do okay in the market it's forty yield of 4%. Where we're at right just over 2% so you're getting twice the yield just think if if if it goes nowhere does make you dividend you can 4% so. You know there's there's a very low bar investing in Europe but again there's a lot of headwinds in Europe to. Japan is 2.4 5% in their their market's cheapest its been a long time but the one I really like is the emerging markets. Which are yielding 3.3 and a quarter percent. And are trading at less than half the value of the United States 80% of the world's population is an emerging markets. That's where the growth is going to be in right now what's on sale so. A must the world comes to own and I just don't see how that's gonna be a bad investment over the next ten years. I agree with you I think the bill have yacht on emerging markets as the volatility. Yeah and you have to be willing. You know if you think the American markets are all little. Maybe you haven't seen anything yet until he started to invest in emerging markets. I mean they could have a year where the market doubles and then they can have unique angle for years where the market does nothing here goes down so. If you're an investor number urging markets of one of the you know what order the parts of the deal lit part of the baggage Agassi's. You're gonna deal with a lot of extreme volatility when you go to places like Brazil and South America. You know take a small amount of money and say OK I'm and put it in now in them a check this in five years. Because you're absolutely right I mean day to day month to month year to year. The volatilities incredible but at the same time you know in our investing lifetimes very if you came in and bought. After these things had bad periods in terms of stock price the deep appreciation. You generally been awarded in right now. I don't see a whole lot of downside in terms of intrinsic value their stocks selling for half the value look at something is based in you know South America. By definition that doesn't make it worth half as much as if it's based. 2000 miles north of there and right now you're getting it at a discount. Boy you sure are in that look at currency exchange rates mean all the sudden these products coming out of the emerging markets or even cheaper they're cheap before. Now they're they're practically giving them away based on the strength of the US dollar. Absolutely and again I've fought to leisure can be your friend you know when when prices are on sale. Items are on sale that's good news but. It's hard David day and year to year but if you look at the long term which is the only way to look you know. Not to change the subject you're very but are talking different mind. Who have kept in touch with who where worked in media. Any an act I tuchman talked with several people at least the places I worked at and they basically looked to me is someone to give guidance and just hold their hand through things. And you know this person was buying things that yields 3%. For long term investments I try to explain to him that if you pick a bad time in the stock market. You double your money in twelve years not to have the misfortune of picking very bad time. Typically can double your money and eight to nine years and at times like this in six to seven. If you invest a 3% right now which is definitely safe. After tax. What you put in if you put enough money to buy a Ford Explorer today. 24 years from now you've got enough to buy a Ford Explorer. And again I can you preserve your value but you don't grow. And that something for investors to consider. John a lot of people are sitting on losses they've taken losses they've bought stocks you know you're nine great people Gigi if it thanks a reminder darned stocks count a lot. Well it I sold minded and I I I think it sold last month than. But my logic was I wanted to take it as a short term loss is that just bought it earlier this year. The talk to us about why a lot people wait till literally after Christmas to sell their losers always are strategies sometimes you're better off doing. Before Thanksgiving yet and if if the numbers work right now what you wanna do usual and harbors these wanna look at what you have gains that you might be selling take a profit because it's kind of expensive. And you wanna try to offset the you can with stuff you have like like we both of the blast war with GE. It takes to take our loss. What got our hopes up. But that though the point that it that was made in this article of the Wall Street Journal is that. Things can change between now and the end of the year and the price of what you wanna sell and the price of what you wanna buy might be entirely different so. If it makes economic sense right now you can pair off the gains of the losses you walk away feeling real good. Don't get greedy because the stocks can run away from you either on the upside and the downside. And the math may not work as well and don't put yourself no corner a lot of weird stuff if happening you're and so. It makes sense now do. Hate coming up we're gonna have our trivia contest of course were also going to be talking about why Lowe's is closing nearly fifty stores gotten more coming up on the financial exchange. Business news is constantly break. And we're here to break it down and show what it means to your portfolio it's the financial exchange with Barry Armstrong Jones soda on the financial exchange radio network. This is very Armstrong saving for retirement is extremely important to those of you who have put money away for later life are probably in pretty good shape but did you know that once you turn seventy to have you are required to start taking withdrawals from your retirement account of course questions to arise how much to like take when exactly do I take it can ideally taking it for whatever reason these are all good questions and you need to know the answers before you do anything I've written a brand new guide which can help you with this process it's called understanding required minimum distributions and it's -- worst for free by calling 803934001. That guide we'll tell you how much you have to take out based on your age and it also explains an exception to the RMD rule as it pertains to your current employer plans call 803934. Zeros or one where you can download it right now for my website Armstrong advisory dot com. Juries are with the securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities and are two companies are unaffiliated. As you age it's not uncommon to entertain thoughts about how your passing will affect your family legacy claiming there's not easy. Well and make sure that our kids are left in the strongest possible position financially and otherwise but gifting assets to our children is not always the best way to make sure they're taking care of -- let's -- senior partner with a -- -- of -- -- -- can help time -- an expert -- estate planning elder law and taxation and if -- in the process of -- -- you need to call him right now and get his new free guide to gifts or not a -- in it you'll find information related to the -- process with Texas issues may arise from a significant -- -- at home -- vacation property in what happens to the -- of the child has -- issues these are all things that -- need to consider -- you begin your planning -- call 866845699. And get this free guide to gifts or not a -- that's 8668485699. -- Dolan has over thirty years experience helping families like -- let them help you do call 8668485699. Or download the -- right now from our website legally exchange -- dot com. Are you having problems the blocked sink or drain. What leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently in believe me. I've had all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. Cold easy plumbing. Easy makes it easy they're experts they're knowledgeable they're courteous they will be on time to take care of your issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems they're history call easy plumbing at 781. 862. 1190s that 7818621190. Or you can visit them online at easy plumbing MA dot com for more information. Massa master license number 10. 183 again the number is 781862119. No. It's pretty hard to find a bank that as a checking and savings account that can provide a decent return and if you're in the market for one I've got to deal that you're gonna wanna check out tie this is very Armstrong and I've been doing business with leader bank for many years so if you're in need of a bank with great rates on checking and savings accounts look no further than leader banks Zuma rewards account qualifying customers will receive 1% back on debit charges 10% back at featured businesses no minimum balances required and no monthly fees but that's not all leader banks zug will rewards account has a two point 05%. Annual percentage yield if you're searching for great rate it's time to call leader bank at 8776917900. In addition you'll receive a free information packet featuring a guide to sigma businesses that number again is 8776917900. Or visit them online at -- bank dot com. In a deposit to opener annual percentage yield is ten dollars to 23% interest rate messrs. insulate these reduce earnings re subject to change without notice leader back a step ahead member of the icy. We have part of the financial exchange in an instant by texting us and 63566. Starter tell extra keyword Barry and become a member of our brand new textbooks tell us what you think 24/7. Break here on the financial exchange radio network. I don't know about John Moody but I was surprised. To learn that Lowe's is closing fifty of their stories home improvement business is booming. The housing market is strong people are staring down old houses and rebuilding new ones. Why on earth John Moody would lows be closed down fifty stores in this type of market. Yet this is not the puppet geno story you're right that it's not for that reason they're doing very very well although. Competitively they have had issues compared to Home Depot they've not been as profitable as Home Depot on a consistent basis really what this has to do is. There are very competitive environment under pressure to reduce their costs they've had some activists coming in bill lack of bill Blackman is one of them. They're under pressure to boost EPS so we'll Lowe's did is they kind of took an inventory of all their stores. And they found out they each kind of address some more under performers or more importantly. Very close to other Lowe's stores and the warning Quincy Massachusetts is being closed as. It's got in there's another one about eight or nine miles away so they thought you know those little do live there and this one and orange Connecticut also this being closed. Like the not because lows doing poorly is because of trying to find a more efficient way of delivering their product building as they are moving to a little bit more of an on line presence. Which means it's not to be as important that they have as many bricks and mortars stores and that's just my take on your preference between. Between the two you have a preference between lows and open. You know I just happen to have lived closer to blows so I got used to going to lows. But I'm a great admirer of Home Depot. It's a very well run company. I I think they're both very good and I think Home Depot has been run better honestly I just personally like Lowe's better because I've got used to go. They are trivia contest is brought to buy seasons 52 restaurant they. 43 locations nationwide including two in the Boston area and one in West Palm Beach, Florida. Seasons fifty twos on a mission there on a mission to provide you with a better way to eat. Visit seasons 52 today in Burlington Justin hill or all of beach gardens or go to seasons 52 dot com permit new information and reservations. But your hope day party today and get a free special gift for all of your guests and we play trivia. The winner of today's contest will win a fifty dollar gift certificate. Two seasons 52 today's Election Day so be sure to vote if you have minority and so but John did. We will be asking trivia questions about some of the races on this year's ballot. How many seats do Democrats need to win to take back control of the House of Representatives that's our trivia question for today. Our text number is 63566. In order to participated Trippi about what my first name it's Barry. RRY. At the beginning of your text message then the correct answer to that question which is numeral. How many seats do the Democrats need to win to take back control of the House of Representatives the text number is 6356663566. And they'll forget. To put my first name. At the beginning of your correct answer. American Airlines change in their frequent flier program on. You're seeing other airlines doing the same thing the problem here is other only so many seats there and first class. And there are so many people can board early before boarding early is definitely an advantage. And and this ballot issue that all the legacies about the deal with. Too many people creeped up into that top class so trying to make it a little bit more exclusive so the reward actually is worth the reward. I know it sounds complicated what they're done is they've increased the amount of money you have to spend on tickets from 121000 dollars a year to 151000. Dollars year. To achieve advance any advantage executive platinum status which in other airlines do the same thing Varian again it's just a matter of there are only so many seats and they're trying to accommodate people who spend a fortune. And they don't want the people spend a fortune to be bumped from that advantage by someone who spends 15 of a fortune. Right well and they're clearly going after the frequent fliers that the business travelers there meat and potatoes right date. Pity there look at for the guy that's. Client. Phoenix on Tuesday and then go from Phoenix to LA on Wednesday and then from went on Thursday their flight to San Francisco and then back hole. To the East Coast that's where they make their money you don't make their money on guys like you and I are you know we might travel to three times a year. That that's not their Britain that's a different potter yet and what actually hurts them are the people like us who find these little ways through credit card miles and upgrades and buying other stuff to kind of sneak into that that class. And the problem is their bread and butter as you said are the people who were on the plane like everyday I mean these people who fly four days a week. Fifty weeks a year they spend thousands and thousands of dollars. It with a trying to say is you're gonna get a better perk then Berrian John duped by flying two or three times a year piling up these little gimmick back doors. To get into our program. Bryce. Pay Eddie the fifth day you're absolutely right. Hate the United States has issued eight waivers from the Iran oil sanctions and other countries that were issued waivers include China. India. Italy Greece Japan South Korea Taiwan. And Turkey my question do you John is. That kind of takes the sting out of the sanctions doesn't mean that those are all well not all of them but you know you look at. China in its India. Are huge consumers of her running an oil saw the suds so they're docking itself to France and whether to sell to China are or to Turkey. You know you. You know almost wonder. If there was an election coming up here in the United States. And the price of oil was an important factor. By the way nymex down but fortunately for the 6165. Brent down a dollar seventy to 7147. And oh by the white people are going to vote in the United States today so. Yeah there's. There's enough exceptions hit a drive a Mack truck through but we US sanctions. Well EE I kind of had I'm not sure that though the you know like people think at higher oil prices are get chucked it Turks ought to. He he thinks that their good thing because we don't import as much as we used to I still like low oil prices in May is just because we've always looked in the northeast. But you know there's there's no benefit to meet personally. By AB you know also the rig count going up in the Permian Basin. I take it excited about what I can get excited about is when. The whole heating oil. Guy drives up but I'm not paid four bucks a gallon from a home heating oil are when I go to the gas puppet not paying 350 gal from gasoline I'd like cheap gas and like cheap oil. Absolutely and for many people for the heating season coming up this is a very critically important time particularly. You know in the northeast part of the country road a number of people do use heating oil you know to stay warm in the the coldest weather of the year. That coming up it's very important so yeah oil is a thing where it's a cause and effect does that it can cause. Better activity it's it's it's a tax break for everybody. The other argument I make that which we've gone back and forth on his chicken of the gag. Is the effect side which is. We get eighty dollar oil because of strong economies around the world. That create more demand and cause prices to go up so. I agree with you we'd love to have cheap oil. But as I said before I think you'll like the world that eighty dollar oil implies. As opposed to the world that 25 dollar oil implies. So it's cause and effect. It you know. Yes it is. Many of you party gotten wind that John Mooney is retiring this is John when you slash show if you wanna say abided John you can send us a text messages 63566. Very good. Chime in on FaceBook is a number of people party done most of the audience by the way John encouraging news to cancel your retirement come back. As financially secure and he's alive on FaceBook so make sure to like your page and watch the guys break down the latest on the market every day beginning at end on the financial exchange radio network. As you age it's not uncommon to entertain thoughts about how your passing will affect your family legacy Clinton is not easy. Well and make sure that our kids -- left in the strongest possible position financially and otherwise but gifting assets to our children is not always the best way to make sure they're taking care of public -- senior partner with a -- -- of -- -- -- can help time -- an expert -- estate planning elder law and taxation and if -- in the process of -- -- you need to call him right now and -- his new free guide to gifts or not a -- in -- you'll find information related to the -- process -- taxes issues may arise from a significant -- -- at home -- vacation property in what happens to the -- of the child has -- issues these are all things that -- need to consider as you begin your planning -- call 866845699. And get this free guide to gifts or not a -- that's 8668485699. -- Dolan has over thirty years experience helping families like -- let them help you do call 8668485699. Or download the -- right now from our website legally exchange -- dot com. It's pretty hard to find a bank that as a checking and savings account that can provide a decent return and if you're in the market for one I've got to deal the you're gonna wanna check out tie this is very Armstrong and I've been doing business with leader bank for many years so if you're in need of a bank with great rates on checking and savings accounts look no further than leader banks -- rewards account qualifying customers will receive 1% back on debit charges 10% back at featured businesses no minimum balances required and no monthly fees but that's not all leader banks zug will rewards account has a two point 05%. Annual percentage yield if you're searching for great -- it's time to call leader bank at 8776917900. In addition you'll receive a free information packet featuring a guide to sigma businesses that number again is 8776917900. Or visit them online at -- bank dot com. In a deposit to opener annual percentage yield is ten dollars to 23% interest rate messrs. insulate these reduce earnings re subject to change without notice leader back a step ahead member of the icy. Are you having problems the block sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently. In believe me I've that all kinds of trouble trying to get people who can come in and do you capable. Qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices always. Easy makes it easy they're experts they're knowledgeable they're courteous. They will be on time to take care of your issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems they're history call easy calming at 781. 1190 that 781. 8621190. Or he can visit them online at easy plumbing MA dot com for more information Massa master license number 10183. Again the number is 781862119. No I folks it's chuck and Mike from the financial exchange and we're talking about required minimum distribution for getting towards the end of the year now. It if you over age seventy and a half. And you have IRAs are 401 k.s are 403 B is yet have to take out those required distributions before the end of the year. Otherwise you face penalties Mike how steeped in the penalties be on our d.s that are taken out. They can be very severe so. Let's say your first year required distribution is I don't know 5000 dollars and you fail to take that money out you can be penalized. Up to one half. Of what you're supposed to take out but didn't so let's say you didn't take any of your prior distribution you can be faced an IRS penalty in that case. Of 2500 dollars so it is a significant amount in in terms of you know that penalty it's not just that you faced on that one year if you miss 2345. Years whose penalty numbers to add up to significant amounts of money absolutely deserve this is something that you cannot ignore folks and if you find yourself where you find a loved one in the case where they. Aided in no about it largest beef failed to take action don't ignore address it. You know identify what the issue is how much you might oh. And get on it right away it might involve writing a letter to the IRS and explaining the situation but do not ignore the required distribution payments on your retirement account. It's required minimum distributions can be a little scary but our strong advisory group has a new guide out this month titled required minimum distributions to help answer all of your questions all you have to do to get it is call 800. 393. 4001. Or you can also downloaded for free Armstrong advisory dot com once again that number is 800. 3934001. Or Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. If you missed any part of today's show not to worry for the financial exchange showed dot com and click the listen. Then click on demanding 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 does come. Democrats need to win 23 seats to take. Back control of the House of Representatives. They need to win two seats to take back control of the US senate. But this appears unlikely as a whole I looked at last night. Yeah well Carlos. From Newton enthusiastically. Gave the winning answer to lowest just moments ago like to congratulate Carlos. Our trivia contest brought to you by seasons 52 with 43 locations nationwide including. To the Boston area and one in West Palm Beach seasons 52 is on a mission a mission to provide you with a better way to eat. Visit seasons 52 today in Burlington Justin Peelle or Palm Beach Gardens. Or go to seasons 52 dot com from a new information and reservations booked your holiday party today. And get a special gift for all your guests. Tucker I was looking at the text line and were getting a lot of people that are you suggesting that John canceled his retirement. A number of the young ladies wanna know how old you market it'll figure that old enough to retire. So like do what I thought Tucker I I don't know if you're okay with this but I thought lewd about John's home number and maybe is like cellphone number. You and people and we just let everybody. In all this talk about a reality if you'd think he'd be OK but yet people just start picketing right outside of John's house. Stake. A that you can go boating community about my Allison and insist yet you know. We wanna get rid of congress but we want you to stay. John. I could get I give you an hour talk about. Where it is even if you don't do the show yet and what you think about this if you your retire your docket do the show we're still gonna talk about. Thirty your you can get paid nothing Wheatley at least now you can me and we pick your brain and we use your gonna go home you're not gonna get. And we're gonna pick your brain and responded talk about. So analysts. Does seem like a very good business decision on your part. So you're just gonna say like awful things about me until like come back if I I I powers but I go to we say very going things. But would not and I appreciate that to every once in awhile you know you break break format and NC Iceland which I do appreciate. But I I do think if I do wanna say this though I do want to thank you Barry and you beautiful wife Susan and your son Mike and talker and Jason Lois. DJ Matt Tim you guys all have treated me like family little once a week contract part timer me. You were fantastic and in the wanting us at the listeners you know there's a lot of Smart folks in wealth management I can tell you that but personal experience. These people are Smart people they're good people ethical and caring some of the conversations I've that would Barry were really enlightening me totally about the advice he gave. That really was taking money out of his pocket that was in the best interest of people and that really struck home to me site. I want to thank you bet are for being a friend for giving me this opportunity. And for you know giving people good advice and MB and and a great employer to work for your people here been fantastic and I'm sorry never made the coffee drink at all. I can go for a while where to get our money's worth Nadia for that Hillary get her money's worth out of your for the last 23 minutes op Tesla. I read this report on Tesla and I don't know what the stock stood today I think as I saw last name your round 340 shear but. Ed and you can correct we've our wrong but injuries in this report and the Wall Street Journal. They have that knock out quarter on the last quarter with a reported earnings early. And it's idea as you'd dig into the numbers and you re deck quarterly report John not nearly as impressive. As you might have been led to believe yet that big. Boost to profits came from the sale of government credits. Which Tesla earnest by producing the clean energy products again those credits are going to be going by the wayside. You know they're gonna to swim on their own like the big boys. And yes so they're doing well they delivered more vehicles it took credit for doing a very good job in terms of you know ramping up production higher levels but. They do have a long way to go and we're most credits to expire. That's gonna to create a real challenge to them but. Yeah you do have to take your hat off to Ilan mosque if if if someone gave you a fortune and said. You know go start a car company from scratch and do without a dealership network. And build vehicles that people wanna pay a premium for. I mean he has done that getting to the next level I think we all question whether we can do it but what he's done is pretty remarkable. I have not heard even a rumor. About who they're going to appoint as the chairman Seattle to kind of supervise evil and if you heard anything at all. No I haven't heard any information. It has been slow to come about. Again it's gonna be someone to take care of the books. You know and try to keep him from tweeting. And and do the business side of Tesla so. A we don't know who that is but the you know it'll be like Sheryl Sandberg brought to FaceBook with Mark Zuckerberg it'll be someone who. Is very good and finance. And who can you know be the adult in the room when it comes to move the business side of Tesla. Folks if you have money saved for retirement your head at the game because a significant percentage of the people. Nearing retirement age haven't saved anything having money is one thing knowing win and how to take it is another. Area are struck here and required minimum distributions. Our amounts that the federal government requires you to withdraw annually from a traditional. Higher rate or an employer sponsored. Retirement plan once you reach the age of seven Indian half. I take calls from clients all the time. With questions about this process to a Britain a brand new guide that is available this month it's called. Understanding. Required. Minimum distributions. It'll have all the information that you'd need to make sure that you follow the guidelines that are set forth. By the government without incurring any penalties the guide is free and it's you or by calling. 800. 3934001. Toll free 800. 3934001. Or you can download it right now from our website which is Armstrong advisory. Dot com. Securities offered to securities America incorporated members Jenrette SAP C and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. So John I saw this. Article and I wanted to talk to about it and the concept here. And the theory being espoused is that Amazon will buy list not over but that they would buy lift. Boy you talk about a blockbuster deal that would give lift. A real leg up over and Brian. It would give it a real lift yeah no fun of no pun intended idea yet this this really got my attention and you'll you think about during the day. What vehicles do you see in neighborhoods. You see vehicles delivering Amazon packages and you sometimes see over and lift taking people from point a to point B. Imagine if Amazon bought lift they're saying that it they could use let's network of drivers to corner last mile delivery. And lift could happen to Amazon subscriber base to open up new markets. I guess the question I have is. We're one of the drivers be willing to work for the probably small amount of money that they be compensated. To take care of that last mile. But boy the advantages here are are are pretty profound and and they're saying analysts are saying. This could definitely have an adverse impact on Hoover's via a valuation. Because this would be a huge benefit for lift. We kind of think about this this is it eight feet behind the scenes drawn. You've got Amazon and Google because Google owns a big chunk of goober. And as a result of that settlement that was made with Travis climb next several months ago. And so it's it's you've got to make it company's two titans of industry right Amazon. And Google. Google seems to be aligned with the. Cooper by default now Amazon could come in and give lift a big boost and the thing that I I look at and say. With your lift driver. And you know maybe your between rise agreed to make a premium beer maybe make twenty dollars and fifteen minutes as opposed to. You know the five or ten dollars that you make delivering a package. It's at least you're in motion and you you know he might deliver those packages and then pick somebody up at 33 minutes later and drive them to their destination it just gives them. Added. Activity and the thing I've noticed is anytime I talk to lift or Newburgh driver. They've got the applications open with both companies so their effectively. Licensed with. Both companies from what happening. And there's no question that you know Wilbur is the big boy in this in this match stay there that they are the winner and the leader right now but. The impact that this could have competitively. Cannot be out overstated. If Amazon owned lift. They could pass on savings to the consumer and in an analyst said it's the same strategy in Amazon has used to offer people video music services. That is that this could be a real game changer and the bottom line is that prices are pretty competitive right now they're within 5% of each other. So there's not a lot of differentiation on price. This would be a huge benefit for lift competitively against Hoover and while what a nightmare as who were plans of go on going public early next year. This could cost them literally billions of dollars net valuation. Well and take about a from this perspective what an incentive. To become an Amazon prime member right you don't pay that 120 dollars a month there 120 dollars a year which is probably gonna go up over time the price of Amazon prime should anticipate. Will go up maybe twenty bucks every two or three years. But if all the sudden you said. Well as an Amazon prime member. When I used list I get potter 05% off on my rider. A little bit better car some kind of premium. I just figured it pushes people over from looper to lift because of that affiliation Amazon's got a lot more customers and let us. And you know at the more I hear but Amazon's strategy in retail it sounds a lot like a modern day version of what Costco did not too long ago. Costco makes all of their money a 100% of their profit by the membership fees. Crime here. Right any babies that basic basically try to break even the rest of the business and in fact they don't wanna make too much money because they wanna make sure they have a pricing advantage and everything they sell. It seems like what crime is doing is gradually increasing the cost to prime so they can provide all these services. Basically break even cost. There might be a point in time were all of Amazon's retail profit comes right from the prime feet. In this is one more value added service to make it something people can't give up. You make a good point as it relates to Costco John if a manager of the story is making too much of a profit in the operation of their still work. They are admonished because the they're told me you're charging too much for the year goods yeah yet charge less. To T treat to our our membership base in in a better fashion so. It's actually watched it coming up we're talk about two or subjects today. New York City cars are going to be talking to one another that'll be extinct. And then dollar tree's nine billion dollar problem they made an investment and we dollar that is not working out those are next to topics on the financial exchange. The financial exchange. Is Cole a hurdle in England and also now in West Palm Beach, Florida. Check out our website at financial exchange showed dot com and find the station closest to you. This is the financial exchange radio network. As you age it's not uncommon to entertain thoughts about how your passing will affect your family legacy claiming is not easy. Well and make sure that our kids are left in the strongest possible position financially and otherwise but gifting assets to our children is not always the best way to make sure they're taking care of public -- senior partner with a -- -- of -- and -- can help time as an expert -- -- -- -- elder law and taxation and if -- in the process of legacy -- you need to call him right now and get his new free guide to gifts or not a -- in -- you'll find information related to the -- process with Texas issues may arise from a significant -- -- at home -- vacation property -- what happens to the -- of the child has -- issues these are all things that you need to consider is you begin your planning -- 866845699. And get this free guide to gifts or not a -- it's 8668485699. -- -- has over thirty years experience helping families like -- let them help you do call 8668485699. Or download the -- right now from our website -- exchange -- dot com. It's pretty hard to find a bank that as a checking and savings account that can provide a decent return and if you're in the market for one I've got to deal that you're gonna wanna check out tie this is very Armstrong and I've been doing business with leader bank for many years so if you're in need of a bank with great rates on checking and savings accounts look no further than leader banks Zuma rewards account qualifying customers will receive 1% back on debit charges 10% back at featured businesses no minimum balances required and no monthly fees but that's not all leader banks zug will rewards account has a two point 05%. Annual percentage yield if you're searching for great -- it's time to call leader bank at 8776917900. In addition you'll receive a free information packet featuring a guide to Zuma businesses that number again is 8776917900. Or visit them online at -- bank dot com. No deposit to opener annual percentage yield is ten dollars to 23% interest rate messrs. insulate these reduce earnings were subject to change without notice leader bank a step ahead member of the icy. Is very Armstrong saving for retirement is extremely important those of you who have put money away for later life are probably in pretty good shape but did you know that once you turn seventy in half you are required to start taking withdrawals from your retirement account of course questions to arise how much do they take when exactly do I take it can ideally taking it for whatever reason these are all good questions and you need to know the answers before you do anything I've written a brand new guide which can help you with this process it's called understanding required minimum distributions and it's you worst for free by calling 803934. Zeros or ones that guide will tell you how much you have to take out based on your age and it also explains an exception to the R&D rule as it pertains to your current employer plans call 803934. Zeros or one where you can download it right now for my website Armstrong advisory dot com. Terry suffered a securities America incorporated members in SIPC advisory services are with the securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group the securities America companies are unaffiliated. Are you having problems the blocked sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently in believe me. I've had all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. Coach AZ plumbing. Easy makes it easy either experts they're knowledgeable they're courteous they will be on time to take care viewer issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems. They're history call easy plumbing at 781862. 1190 that 781. 862. 1190. Or you can visit them on line. At easy plumbing MA dot com for more information Massa master license number 10183. Again the number is 781862119. No. Security suffered two securities America each member finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated the markets are still volatile. Get our weekly monthly recap but becoming a member of berries brigades music financial exchange showed dot com and sign up today. Are you afraid to call the plumber because you don't know the cost easy plumbing in complete most simple residential service calls for under 300 dollars. Could be a block sink or drained a leaky faucet or shower head. On nonstop running toilet call easy plumbing because they can fix it fast and leave your hopes spotless when they leave. Call today 78186. To 1190 or visit them on line it easy plumbing mass dot com math master license number. 10183. To New York City Manhattan is embarking on a program on. To try to cut down really cut down a pedestrian deaths from what I can. They're connecting roadside centers sensors traffic signals even Smartphones. It's 8000 vehicles will be outfitted with special devices that can actually communicate with each other. As well as with the sensors traffic signals and Smartphones so. It's taking traffic on the threes to a whole new level but it's it's very impressive. Hopefully lead to a signature environment. They've had John EV one fatalities in the first six months of this year as were people are getting hit by cars I had no idea you'd ever you read about that in other cities they. Like I don't recall reading about it in say Miami you're. Horror or Boston Hartford where you have this Heidi number of auto fatalities were cars or pedestrians yet and it's happening. Because there are more pedestrians are a lot more people out there you know riding bicycles as we know. And again you know you hit it it creates a real danger because it's it's a lot safer to be in it auto vehicle. That is blocking around or you know being a bike. An autonomous vehicles use these sensors to see around the vehicle. A lot of connected vehicles. You short range communications like Wi-Fi so. It's trying to get the non autonomous vehicles up to the same level but autonomous vehicles are at the end of the day I think everyone's going to be safer. But in the meantime the other some people more equipped than others to deal with the many obstacles we have. Including real life human beings up there. So a few years ago dollar tree won this hard fought battle to buy the Family Dollar Stores. And selling its work and upper and me they're. It is and my question is. Is it because the economy has strengthened that these dollar stores are struggling horrors Family Dollar just a dog. Family Dollar is just the dog because the other dollar stores including their parent dollar tree. A role doing very well this is economy that's really lifted everybody lifted all boats. The only dollar has competitive problem they are smaller. They're not as well kept up. And there's less product and in this is a problem the dollar tree has had you know they they thought they are taken up the competition by buying them. They bought themselves probably a whole bunch of new headaches and close to home Barry you might find this interesting. The Rite Aid that we have the marsh field. Closed and a dollar tree is coming in just a block away from an existing Family Dollar. Next door to poplar genome is the just closed so. I've this is a sign clearly has some changing times because I would not be surprised if dollar tree went in bought this beautiful brand new store. With a much bigger selection of products. And and shut the doors on the Family Dollar which is smaller and less competitive yet it's been a problem for them it really is not help them Turk the they did two big players that are Dollar General and and dollar tree is that right courage of those that too. Five kind of last man standing. I thought I was goes under the impression that you position the store fairly close tool Wal-Mart or can you had. Your Wal-Mart shopper and then when things turn tough they would go to do you know the dollar store. Well it turns out that you know these stores did so well. That they forced Wal-Mart to go to a different strategy years ago with a win with neighborhood stores and smaller stores. To try to basically have the wrong dollar stores to compete them because they were taking a lot of business at one time away from Wal-Mart competing price why is quite well. The problem is. Don't trees still doing well in dollar general's doing well the only dollar just has not been competitive and that's been their big problem. And they do serve a useful purpose but there might be too many of them out there and you know as times get better like you said people do trade up they don't feel the need to necessarily have to go to a dollar store it. In many cases they're trading up and go to Wal-Mart. Yup that's what I observed in the it's the whole face of retail changing dramatically. You know a lot of the retail stores are simply not the enemy it. And they're going to be replaced by service providers see that are jail shops going in restaurant seems to be very popular. John I want to thank you for you know working most the last several years Lou we'll certainly stay in touch and they'll be on air tankers for. He would agree co Los Angeles of yours thank you. Will be back tomorrow with another edition of the financial exchange trucks not a will be back at Johns chair. Have a great day everybody and don't forget to vote suitable.