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Full Show 11-19-18

Nov 19, 2018|

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This is the financial exchange with the very Armstrong and sharks are down. 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. It's very rare that you see it chairman of the board for a large publicly traded company. Terminated and possibly arrested we're not sure that he was arrested or are we talking about besides Karl's goal this morning. Ross are going to be talking about a very important subject and that is. GE pensioners easier money safe some of that I use and get paid the money that you're entitled to. Based on the pension contributions you made for many years. And now there are rumors afoot the GE pitchers may not be getting their funds hi everybody is Berrian truck with you hear about bomber Monday to start off with those two. Stories yen and on top that we just got to the national association of homebuilders the their index measuring their confidence level now and that unexpectedly missed by. Eight points actually not dropping to the lowest level since August of 26 team. And so it appears that we continue to have housing issues. That are building in particular the big things that they noted in their reports. Significantly weakening traffic traffic is now measured at the way it works this index. Fifty is kind of a baseline reading they mr. trapped at forty so trapped continues to weaken at this point and they lowered their expectations for the next six months. Now by ten points. Based on kind of what they are seeing so homebuilders now particularly confident right now how much credence do you put in that in Dexter. On a scale of one to ten it's like as a kind of I guess it's like a six like Vegas sentiment aids cases and bully it is but sentiments important especially in in buying houses you know it's like if you don't feel good. You were not either buying or building hopes brightly that's if that's one of the big beings like the housing is very much a sentiment type. Of being with when he talked about other pieces that are out there they don't necessarily matter too much but sentiments important for housing more so than other parts of the economy than him. They had tiger in Indian I was looking at some. Refinancing. Home smokes he used it to submit to them the demand is all the banks are start to lay off all the mortgage brokers. Are there you see in that Wells Fargo thousand yeah so tells you when you see that they you know the banks know. Let's cut rate they see the week before the other they're not stupid you know they they might be greedy sometimes but they're not stupid. Well and that's the story about Carlos gold and having this guy was a rock star in the automobile industry no we're talking about Carlos chairman. Carlos Goldman chairman of Nissan more company. Was arrested Monday in Tokyo and Nissan said it intended to oust mr. gold from his post after uncovering. Significant. Acts of financial misconduct. I I'm not sure that I get a tight. When I saw this headline. It just seems outlandish to what feels wrong to you about it. The the thing that strikes me about it is Carlos came in 1999 almost twenty years ago right. And for twenty years he's been cooking the books and stealing money from a question that but also I question if this isn't Japan. Having sour grapes over the fact that when they are largely controlled by the French. It and you know or know. Basically bought Nissan for nothing be it pennies on the dollar. Walk me through the upside for them to make this op. Now that's the part of struggling they do. Because I don't see unique is going to already stepped down as CEO of the combined company last year he was scheduled to be done in two years anyways. So it's not like this was someone who was sticking around for the long term like he was kind of on the way out all ready. On and I just find it hurt like you got a guy he's making his salary is still as chairman I think with seventeen million bucks a year. I just find with with stuff like this is like that it's it's tough to make this stuff op. You know it's it's it's you you're pretty much if if you're accusing you of this you're saying that we have proof that he was actually making this extra money is just. There's going to be concrete numbers of where you can't hide it's it's going to be there so and the stocks are down. The ear nose down 13% on the stamps you know that's that's a big move here. So this is something that he's been the stock price decline is warranted I mean if the guy's gone right. Excellent if companies are still there initial properly pretty good cars so I don't know what tonne of bouts. Carlos go okay if he's not someone who I necessarily know what to god just following his career has he came in he loosely the the Coca. Of the last thirty years Wallin in in I think one of the big things as he he does appear to have a huge amount of power in the automotive industry to begin he has you know I get there isn't this is someone who you know you very raw bang did. It in in that's why when you look at this like he does have the potential if if true and I guess that the question then becomes. Look but they also arrested one of his lieutenant I think honestly now and I think the question is Tate you know how much of a leadership void is there at the top and because when you when it comes to auto makers if there's one thing we have seen leadership matters and automotive. More than other sectors and in the bad GM with Mary bearing the dramatic turn up we've seen it and look at GM compared to four to think that day the about Ford since what's his name laughable all volley you know it's it's like the leadership matters a lot with the automotive sector. In so I I do you think that this is one case where it could be warranted this was. You know if this were. You know a supermarket or this or worse shoe company yup. I don't think anyone really cares you know in those cases necessarily as I shouldn't rush out and buy the stock. The don't know Noah and insulate. It's a lot to do you targets. Since you don't Wear and an in look Nissan's been hit on all cylinders their rogue suvs and best selling cars in the country. That's what makes me all skeptical that has went Renault bought Nissan. Knees I was bankrupt in Italy 98 there they were. Like on the verge of of going under Carlos comes in restructures the company reduces expenses. Brings out some innovative products and all of a sudden Nissan becomes cool card in the and that profitable. So it's a Japanese I'm thinking the Japanese are looking at saint. Well this is our company but not really because we sold it to the French will prepare you know one penny verses ten dollars. But so the answer is not to bite the hand that feeds you and you know and it and here's the other thing is I look at the other big piece that I consider an all this is the culture that you have in Japan. Depends a very different culture from the US the US which I don't understand. We we have a guilt based culture okay that's that's how we work am I doing something that's fair my doing something that's even. In Japan it's much more of a shame based culture where it's hey how is this going to reflect on me and my family and then. If it turns out that this is fabricated that this is not real Nissan's Donna's company. He's like it right here right DD did legal counsel for Nissan business nature they have their Dachshund or because their careers over the wrong re like it if you think about if you've ever done business with Japanese businessman. They are polite to a point to falling they don't say anything unless you have something seem like it's it's it's just it's a very different culture. But we can't even get confirmation on his arrest no we can't. So what if this is that there's a lot of if there's a lot of conflicting stories here if it's he that you would think that just went we we knew about this last night. Yes so you would think between last night in this morning we would have had much more clear information we talked. I think the big thing that I take away from this is. Eight and find it's so unlikely that Nissan's just making this up because again if if if that comes out in Japan bail. They are finished because they do just that the sheer amount of shame that is brought that company that don't like the big they can't survive at that point so. I just have a hard time looking at this and also. I look at and say what's the upside if he's gone then there are going back and say you know we wanna buy more of our company back you know like I just I I have a hard time believing. That's. This didn't happen I'm not saying like with accuracy with a 100% certain that I wasn't there but it's just. I don't understand the upside for Nissan. Getting rid of them now he was going to be stepping down in two years anyways. GE is seeking power sales in Iraq but. I guess there's a report spotlighting some corruption concerns in Iraq you know when you do business and other parts of the world. It's not uncommon for government officials to ask for bribes and action probably common here in the United States more than we know that. Certainly enough foreign countries bribery is common in you as an American company you're not allowed to participate and that is against the law. No and and we know that Goldman Sachs is Ambrose a big thing with regards to this in Malaysia right now with a one MVP scandal that's going on their their stock has been hammered in the last two weeks because of concerns they're going to be fit him with billion dollar plus fines on the because of bribery yeah and sued GE here. Looking for sales in Iraq but apparently. Eight in and look if it's not necessarily surprising in a part of the world that. You know has been so dependent on kind of tribal relations and those types of things for the last. Mean little not GE's let's be clear it's not about GT. Making bribes it's of no or sub contractors. Making bribes are having. Under the table relationships if you will with. Government officials in Iraq well it's it's look at some point it's where does the buck stop and eventually stops with GE and that's the concern is hey it's either. Paid the subcontractors are having to pay these bribes in order to get business ally is do that or GE just isn't getting business either one of them is bad for GE. There's not really any narrative there that comes out with them you know looking positive. The future is bleak for GE the aid the you know you you look at this company analyst doing today it I'd be brought back some. Financial guy so I think it's up about it up ten cents today and eight dollars and eleven cents a can't believe I'm saying it's up any dollars and eleven census is a stock that news. Trading at nineteen dollars and 39 cents in the last year. But as a relates to GE. A lot of people are worried about the future of the company many of you were concerned about the safety of the pensions. For GE. GE is going to go. Bankrupt do you think GE will go bankrupt that's our poll question. In order numbers are thus far I haven't voted yet be do you think you're gonna go bankrupt. I'm voting no I just vote on this team. And more that's kind of like when I voted that Boston was gonna get in is on HQ two and I'm homer. So he knows what the local companies to do well. But I I think so I thought a tough one you know like that there's a legit chance that they do. I mean it's the the bond market is pricing in there is a legitimate chance that they do it with two levels away from drugs that. He's the the big thing that is going to determine it for them is going to be too it's not so much going to be even what happens with GE believe events things outside their control at this point because they've gotten the point where they don't control their own destiny thing. I think what happens and energy. Is going to be key because if you see and urged in here's why not because G yes huge energy business they they don't. But if you see energy continue to sell off. Bonds in that sector come under pressure you potentially have downgrade there and have a cascading effect were G its tip is maybe it has contracts with some of these companies and things like that. It's big there's a chance I hesitate. I don't want to be the person who BS says oh they're doing this and Indian newsroom drum up all this fear and everything. There's a real chance they do. Well the the thing that I caught. Was number two we reported they sold their Baker Hughes share yes they sold them for 33 cents on the dollar. It's still a relative to what they paid for them. Yeah it will in look that speaks to just how bad job Jeff Immelt Italy the northern Iowa health care deal that the more I look at Jeff Immelt and specifically the stuff that he bought and sold so you sold it you bought Baker Hughes the peak of the energy market. And you sold GE capital the bottom those two moves or why you're here right now well. The other thing that many people are concerned about are the pensions associated. With GE. Pensions and GE when we return but we would invite you to vote in our poll do you think GE U will go bankrupt. Our. Website address is financial exchange showed dot com if you would like to text us with your thoughts on that subject. Our text number is 63566. GE pensions are. Our next topic on and into extra. Breaking financial news. The financial exchange with Barry Armstrong and chuck saga on the financial exchange radio network if you're at or near retirement age legacy -- is something that you're going to want to be mindful of it goes without saying that we wanna leave our children in great shape for camp but gifting RSS beat at home or vacation property can create huge capital gains tax problem at the kids choose to sell the home Todd let's -- is an expert on elder law and taxation and he's been helping families like yours with their state planning needs for years let him help you do if you're beginning to think about legacy claiming for your family. Call for drugs brand new guide a gift or not a gift at 8668485699. Gifting assets to our children has special meaning of the children have creditor issues org go through divorce problems to arise the could be disastrous. 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It's called Zuma rewards account paying two point 05% annual percentage yield on balances up to a 100000 dollars. To learn more call leader bank at 8776917900. Or visit them online leader bank dot com. It's called Zuma rewards account ZEUGMA. 8776917900. Security suffered through securities America team members in red SIPC an advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Join our brand new tax club by texting the word that. Mary's to 63566. To send your first and last name and get involved today you're listening to the financial exchange radio network. Folks heating season is here get your hot water steam boiler inspected before the next cold snap leaves out in the cold. To be at 617 degrees on Wednesday this week so buckle up and called experts that easy plumbing they'll put your system your comprehensive test. And make sure all the components are working properly. Get a head start on your winner preparations Nicole easy plumbing today 781862. 1190. Mass master license number 101. Eat. Sort talking about GE and whether or not they're gonna survive and whether they'll be around her are not now some of you owns stock in the company. And you know you the losses have been tremendous you're trading at eight dollars a share now you wanna sell your shares of GE stock if you can find a buyer. Then you look at it and say OK or how many people are covered by G pension. And there's a lot especially in New England as they had a big presence in new wing. Yet and I eat I get questions. Regularly both from listeners and clients about my pension plan with G. Yes a hit here's the thing that you need to know about the GE pension okay. It is significantly under fund. They have not put the money in the they need to guarantee in there and and the reason that most company pensions are actually under funded the reason wise if you maintain at least kind of minimal funding levels you say okay were able to guarantee you make sure that we're set for the short term and pay for the long term we can throw money and down the road will make it up because we know organ be profitable in two years exactly the problem when you when companies start to get into trouble. Is that the pension becomes an easy target and say hey we can let this get a little worse snorted stay afloat that. And you know that's it that is a case where you have to kind of wonder with G haze that's something that they consider. Over the next couple years here. Now understand. In order for your pension to be affected. GE stockholders would have to be wiped out you're still talking. Even though it's down to eight dollars a share what are we talking 75 billion dollar company yet this is still a company that is worth now about seventy billion dollars 70s70. At the beginning of the year it was worth close to a 180 billion dollars a you've had a little long ago one of the biggest company in the world -- a bit at the event just in a year you've had almost a hundred billion dollars of equity wiped out to say hey this seventy billion left late don't. Don't be worried that you lost more than seventy billion this year so the public it is a reason to be worried in this is wide. When you look at the companies say gee what happens to that pension how short is the pension I heard it was 29 billion dollars it somewhere in that ballpark so you're talking about how almost half the equity 40% of the equity in the company. League big chunk there's still not easy to make up to let's look at the worst case scenario let's say the GE does go bankrupt and they can make up that pension shortfall that does not affect his on the facets to sell off they can't make it up. What happens is they go to what's called the pension benefit guarantee corporation at PBGC. Now which the government funded entity everyone who has a pension pays incidents but that's also in Seoul. It is as a money in that there's not a ton of money in there NC sit there and you looking at this and say gee do we end up with taxpayer bailout of pension funds laziness member. Very very similar. So there's some real issues years you're trying to deal with this just because. PBGC right now it has assets of about a 110 billion in liabilities about a 108 billion so it does have net assets of 2.4 billion. Dave that's not 29 billion that you need there. It is an improvement from last year where it was you know eleven billion dollars insolvent but you go into a bad market Siegel into three or four year bear market that that fund. Not just reflecting the GE problem. There's there's a lot of other companies go under under funded and one's not think about it's not just companies you know to PBGC doesn't cover price of public pensions. But you have all these public ones and this is why when I look at what is going on. This is why I think the Fed blinks. The US cannot afford for stocks to not go wop that kind of link last week to name a single they're. Again this yet they signaled they're going to end up caught in an era nobody cutting that is about it but he gave they're not gonna raise rates but. The and let's if we can I'd like to go back yeah where the into the segment tell people. What the year amount of pension protection. Yet depends on you for aid to OK if you are seven years old. The annual maximum single life annuity guaranteed by the PBGC's about a 108000. That means if you're getting that amount in pension or less. You probably OK you're fine if you're getting more you're not at 65 it's 65000. At sixty it's 42000 at 55 it's 29000. That's what the PBGC would pay out. On a single life annuity on one that has a 50% survivor benefit. The numbers aged 7097000. At 65 maximum 58060. Maximum of 38. And at 55 maximum 26000. So. Those are the numbers now but that. That's assuming that the PBGC. Has money in this is why the Fed is going. To stop hiking and and I think to be honest I think you're heading for fed cuts within. Eighteen to 24 months that means you think that we're on the verge of recession no I just think that the stock market can the US cannot afford for the stock market go down. Well it's going down today. Markets down across the board 20 boy. 237. Points in the red on the Dow nasdaq's off a 134 point. It's very and chuck will have a full market update for you just humans. Like this on FaceBook and follow us 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. Coach AZ 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 781. 8621190. 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In addition you'll receive a free information packet featuring a guide to -- businesses that number again is 8776917900. Or visit them online at leader bank dot com. Deposit to opener annual percentage yield is ten dollars to put your 3% interest rate messrs. until these reduce earnings were subject to change without notice leader back a step ahead member of the icy. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one -- and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and -- gold -- it just makes sense of -- -- -- call and learn -- call 8776917900. Or -- leader -- dot -- not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value -- back a step ahead this is a special announcement for a landlords chasing -- only rent payments and making trips to the bank to deposit checks take a hassle -- -- -- -- -- -- and -- banks all -- -- collection -- he -- automatically -- tenant's -- and deposited into your account visit WWW -- he -- dot -- to learn more we see -- your payments for each unit received regularly on the same day every month tenants pay nothing in the first six months -- free for -- -- visit WWW -- -- -- -- meant to learn more or call 7816418691. Time now for Wall Street watch a look at the market's performance so far today thanks to Berrian jug right here on the financial exchange radio network. Time now for Wall Street want brought to you by leader bank it's not too late to get a great rate on a home mortgage and leader bank specializes. It'll wide variety of purchase and refinance loans. At some of the most competitive rates in new wing and call it a bank today 8776917900. Or. Visibly to back dot com for more information member FDIC. And Mike Armstrong is now with us. Here to talk about some of the big companies that are moving today Mike let's start off first with Nissan. Yes sir well I've. Big news today the executive of Nissan has been arrested. Cust on chairman and Nissan also. Big role to play at Renault and its beef you have an alliance based on the near times reported that guys rested on Monday. After an internal investigation targeted significantly underreported competition to Japanese financial officials for years now. So he has been arrested it's likely that who'll be removed as a year ago. But needs on moving gate on the news that stock is down nearly 6%. Apple about half percent. They're continuing their slide if we release scenes and there reported earnings. Down a little bit over 3% today on further rumors that they have. Decreased their orders for in the after the new iPhone so all of their spires of reporting pretty bad numbers hinting that Apple's been decreasing misses the first real rumor that we're seeing that. Apple directly has actually talk to their orders the X our access and access Max models by as much as a third there initially units that they requested. All right very good thank you Mike that is Wall Street watch presented by leader bank for great raid on a home mortgage call it a bank today 877. 6917900. That's 877. 6917900. Or his leader bank dot com member. FDIC. We have a couple text messages that we need to respond to you can send us your taxes text messages at 6356. Export my first name bury the beginning of your text. 413 asks Berry. With regard to G what's left between jet engines and locomotives still the health care admission still healthcare division they still make a whole bunch of wind turbines you know so that's still going that's separate from mother out of money on the winter and I do I don't think they make much there so it's. I mean there's there's there's not much there aside from the jet engines. I guess the bulk of where they actually make their money. And then 603 asks this question what happens to our blue cross from GE pension I think it's gone Lisa took the Forbes article reflected the way it I think that some middle and it being negotiated I don't think we have a clear picture it now. We've learned over the weekend that striking an area workers at least in Boston. Will return to work on Wednesday in they have a new contract do we know the terms of their contract we don't know the terms of the contract the reason why the union has not released the terms and they said the that is because there are still 5000 Mary workers on strike in San Francisco and Hawaii that are trying to settled their contract they're high cost regions and so they don't wanna be giving leverage away in negotiations by saying yet here's what the people in Boston what do you think in like twenty bucks an hour. I I don't know sounds like the issues were compensation. And regular hours in other words getting you know getting your forty hours a week. Of a war that sounds like a big part with the union news complaining about they'd been on strike since October there. I think part of it also whenever members from an earlier story part of it was also they were trying to push back against the automation of some of their functions you know I don't know if they gained any concessions on that front. But I know they were trying to push back against. Automation being used in some of their functions as well that was a piece that was out there when they're back to work openly seek the actually not back to work yet they go back to work on Wednesday. And they may have been paid since October 3 it's a long time prepare for those workers. Indy their pay increase though goes. Retroactive. To march for. Yen would what's what's good about this in terms is deal getting done for mayor it's perspective. Look Wednesday as the day before Thanksgiving. You can't be messing things up heading into Thanksgiving but the more I think about like I wonder how they function over the last six weeks I don't think it's been easy but if someone shows up in you have workers picketing outside in not being able to do their job like that's that's a big deal so I think. My guess is when push comes to shove. We're gonna see the merit and the little bit on this just they think they had to now and I think those workers deserve what they get you know it is better pay imagine that it was probably tough. For them to get replaced workers. It's not like there's thousands of unemployed people now look and to clean rooms and in and work merry. Known anyone who is probably demanding high wages anyways you sit there it's like you would rather pay a temp worker highways are some who knows what they're doing knows how we do things like that. I might as well go with the person who knows how we write that story. 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Subject to credit approval leader bank a step. So I guess we have a new statistic we need to start quoting in that is casino revenue in Massachusetts. If we need to do for Connecticut as well. Looks like MGM Springfield was a little light in October relative to their revenue in September. Yeah the mast gaming commission saying that the MGM Springfield generated 22 million dollars in gambling revenue for October down eighteen and a half percent from September. I would expect that the Summers probably going to be a busier time OK and I would think that for foxwoods and Mohegan hazard down on the shore. I don't know if people are gonna spend a weekend. In August in Springfield. Well I I just think that people tend to be that the driving schedule is better in the summer camp and it is heading into the holidays and so I think. That coupled with the fact that look the first couple months are probably gonna be busier than normal anyways just because hey people are excited they wanna see what's out there you know so I get that. I don't know what the projections worry in terms of what they are expecting to bring him on a monthly basis that early said you know what what they were hoping to bring it and how much do you think Springfield. Will be adversely affected by ever opening. A decent amount I tagged if I did I'm just one guy I can pull something out of the air I'd probably say fifteen to 25%. Why is that Mohegan one time and I walked down the A you know through the parking lot and it seemed like about four out of ten cars had Massachusetts plates on. And I'd be curious as to. If you walk through the BC can't really do that was Springfield because you don't they T you don't know. What percentage are coming from you know everybody being in Springfield has come from masters let's. Get people coming up from Connecticut from Hartford maybe. So here's my thought with regards to the MGM so that they've built this thing for almost billion dollars it was 960 million dollars so few sit there and say KG what do we need to make in order for that makes sense. My guess is they probably in terms of total revenue not just gaming revenue but total revenue. They're probably aiming for somewhere in the ballpark of I'm guessing 400 million years that their round two and a half times revenue for the cost it to build the thing. So they got to do somewhere in the range of 35 million a month. They're doing caught twenty years so you know on the gaming side they're gonna have revenue from the hotels in the the rents they collect on the restaurants but I don't know they're gonna get your concerts like he. You know they the did not excel. And now they they do they have the facility did Julia give a 151000 room facility I don't think it's that big tech do you remember how big the arena is the MGM. Not pause Al a look at opponent. And I think that's the because that's that's what gets beat 8000 seats that's a bad so bad because they're managing the mass mutual senator there in Springfield that's that's what they took over effect. And what that does is in the can have there Vegas acts come through Springfield Delhi just say hey we're gonna sign you. And yet you do twenty gates in Vegas Leonid due date in in Springfield as well but my guess would be. They were probably targeting du 25 million a month somewhere in that ballpark in gambling revenue on an. I'm speculating completely but my guess based on the cost is this thing is they want to do 25 million a month. Early returns they're not getting their consistent. Amazon has a lot of job openings you know that party 50000 jobs to fill average. Salary will be a 150000. Dollar actually more than 150000. Dollars. How does a person get one of these jobs well it's its interest in the right I've been talking to a couple people that I know that are actually act Amazon right now. The big thing that they're doing initially they're reaching out pretty much anyone who's working. For competitors in the tech space weathered sales programming anything like that. And pretty much if you're at a competitor of Amazon in any heart of their business is they're looking for people Leo at those companies to begin with. And then pretty much what they're doing here working for oracle. IBM. I have that the people that I know that have been reached out to already a couple or way fair cup port salesforce cup or oracle and these are recruiters reaching out to them. Yes yeah recruiters for it all technology background or some project managers up on sales guy's sales went to sales guys says that they're ramping up just about everything it seems people of cell for a WS. They do it would it would tell you is I know couple people who work for Amazon and its. Each of them has said look it is a really good company to work for if you understand what you're getting into it's not for everyone because it is a grind and it's not the kind of company. That gives you all the perks that a lot of the other tech companies do they don't have you know all the crazy you know Jim's in this. Did the one is that 150000. That we quoted do you think that includes the stock offerings know the way that Amazon does their comp is they pretty much paid just about anyone above a certain level 150. And then the remainder of their comp based on how high they go. Is stock options to those options packages can range from you know 20000 bucks a year to millions of dollars appeared very senior rules. Up next are we talking about gold. We I saw an article the other day in MarketWatch and in 2019 gold will be the best house in a bad neighborhood where we get hobby Gilbert's opinion on that very topic. Next on the financial exchange. 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. The skewered Barry and join our exclusive club this business financial exchange radio network. If your money saved for retirement you're ahead of the game because a significant percentage of people nearing retirement age haven't saved anything having the money is one thing knowing when and how to take it is another Titus is very Armstrong required minimum distributions are mounts that the federal government requires you to withdraw annually from a traditional IRA or an employer sponsored plan once you reach the age of seventy and a half I take calls from clients all the time with questions about this process suffered a brand new guide available this month called understanding required minimum distributions it'll have all the information you need to make sure you follow the guidelines set forth by the government without incurring any penalty to guide his free and it's your by calling 803934001. That's 803934001. Or you can download it right now from our 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 Gary Armstrong representative Armstrong advisory group in 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 -- and -- can help time as an expert and a state -- 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 -- Texas issues may arise from a significant -- -- at home -- vacation property and what happens to the -- of the child has -- issues these are all things that you'll need to consider is you begin your planning -- 866845699. And get this free guide to -- 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 legal exchange -- dot com. Are you having problems with 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 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 plumbing at 781. 862. 119 B at 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 781. 862119. No. If you're real estate or property management company you need a banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and real estate space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitize paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as ECH payments mobile banking remote check scanners and it's innovated to see rent payment platform leader bank has a team of business bankers that are on call to help you and they'll come to your place of business and make it as easy as possible the number to call is 8776917900. That's 8776917. B 900 find out why many of greater Boston's premier property management and real estate companies -- leader bank as they're banking partner call 8776917. To 900 or email -- BO at leader bank dot com for more information member FDIC equal housing lender. On top of breaking financial news by becoming a member of the carries brigade blog under financial exchange does come in sign up today. It has been awhile since traders were able to make money in gold we're joined by obviate Gilbert from the Elliott wave trader dot net to talk about gold. Potty in a while Corey Dylan. And doing great thank to have me back. We're glad to end. You know the star seemed to be aligning for the gold trade woody woody your and what are you anticipating what he's telling your clients going into 2019 as a relates to gold. We expect when he nineteen he would figure for the old. Where we're not certain though that the bottom has been struck we're actually tracking something electable provide us. With one more spike down but you know whether we get better not we think we're standing up 29. Really picked up by year old. We think is again because I'd I'm thinking there might be supply disruption based on what I'm reading. Or is it going to be demand for gold. And Intel media is that the real reason is that sentiment has has dropped into the port deal. So you know when when everybody get so bearish. There really is nobody let nobody left the cell number and you know just like when markets rally you know market don't hop because the selling then market. Hop because of lack of body painting on the downside. Market bottom because selling has dried up. And we we are getting very very close to that point we're selling is trying to. Piecing think some of that crypto currency money comes back to gold a lot of people speculate that you know crypt those went way up because of you know people sell their gold. That turned out to be pretty bad trade as well. Yeah I mean if you notice sent to doubt an aide to doubt making represented here were both gold. And the creek goes all pulled back and the interesting thing is we're also looking for bigger bottoming structures in. In the crypto market as well. You know now I I went what is it what's it going that now it's under 55500. Chain. We're round a little over 5000 right now I have. What about the supply disruptions I don't know if you saw today's article in the Wall Street Journal about foreign countries like Congo and Bali Indonesia saying hey. You know we're not gonna let you extract these raw materials from our country without pain it's more money. Well you know we'll always have some news event and to be able to apply to whatever price does. You know. For the most part we really ignores the news event because they're always secondary. Market sentiment that be so it'll be an event will always be available to. That to come up with a and it's why I'm market does something. But at the end of the day it really comes down to investors sent. So I beyond that note the let's say somebody's driving to work there on the road right now and they're saying a cab but I'm I'm means I haven't owned gold in awhile I'm gonna owned gold. How do you buy gold teeth do you go. To the Federal Reserve and by physical gold do you buy gold coins do you buy gold ETF do you by the mining stocks wit. At an alleyway how do you counsel your clients. Well that is a very good question. I'm personally anybody. You know we tell them anybody Reza long term interest in goal is not to use the the for example the GOP. Which is the most commonly ATF had a lot of flaws. If you read through the perspective. So we help people stay away from. You know there's there's a gentleman that I used personally is named Doug Everhart from buy gold and the overstatement dot com then you know we send our members and because. Not only that we have a long term relationship with him and recognize its trustworthy. Prosecute people. Among the lowest premiums. In the industry. Is that physical gold you're talking about if you talk of physical goal right that you put music Australia I don't I think they're not. Now I own I I have gold they. You know I don't have a lot of it but I've always maintained so I look at gold as being an insurance policy. That's a very Smart way to look at it and most people do. I happen investment perspective and Goldman both an insurance policy perspective and they're they're really different two different perspective to. Why people do uncle. Now interest and thanks your time Ali appreciate it it would be at do you have a high point for next year do you have a price target for goal for toning. I don't want to cut back to me in about 23 month but the probably tell you where will be in the year because they need to feed the initial step off the bottom Patel now aren't we. The project. I use I've got your cell number I'll be will be in touch on. The Gilbert and Elliott wave. Now I'm hurdle they act I like physical gold I don't know if that's how I alone and leave my dad bought physical gold back in the sixties. And I've still that that's how I don't. What's what's really interesting about gold if you look at it from a pure investment respect. It actually works the exact opposite of stocks everyone wants to buy and sell stocks quickly when in reality the best way to hold this for the long term. Everyone wants to hold gold for the long term when in reality it often makes money for short periods of time but not a whole lot in the long term you know so. It's it's the opposite of stocks to in that respect but a lot of people hold that the fiscal stop just because. Hey it's its emergency in servicing Casey knows something catastrophic happens and you know it's something you've passed down physically do your kids and grandkids and so forth so. That's it's it's fun to look at it and teach your kids about than do that that's that's how I got him. Our poll question today is do you think GE will go bankrupt. Some of a gun 38%. Of our listeners think that GE is headed toward bankruptcy I. You know like I is as one of the things I hope they're not I hope this new CEOs name's Larry Culp comes in I hope he can turn the ship. He's got a tough job ahead of the big problem they are now dealing with forces outside of their control they they've lost the ability to control their own destiny at this point. The Dow was down 194. Points the S&P 500 down eighteen points and NASDAQ is off a hundred. And gold is up a dollar ten an ounce at 1224. Dollars will be back with more on the financial exchange. It's not too late to get a great grade and home mortgage leader bank specializes in a wide variety of purchase and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing calling 8776917. B 900 that's 8776917900. Or visit leader banks dot com member FDIC's 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 you turn seven and a half -- time to take some money Colby Armstrong advisory group right now what 803934001. Understanding required minimum distribution so that you're ready when your time comes there's 803934001. Or you can download the got a break now from our website Armstrong advisory dot com securities are there's series Merck incorporated number two wrestler PC advisory services are registered as America advisors incorporated Barry Armstrong represented their arms from advisory group the securities America companies or an affiliated 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 ski senior partner with a laugh from of Cushing and Dolan can help time is an expert in this state claiming elder law and taxation and if you're in the process of legacy planning you need to call him right now and get his new free guide to gifts or not to gift in that you'll find information related to the gifting process with Texas issues may arise from a significant gift click at home or vacation property. And what happens to the asset of the child has creditor issues these are all things that you need to consider as you begin your planning circle 866845699. And get this free guide to gifts or not a gift it's 8668485699. Cushing Dolan has over thirty years experience helping families like yours let them help you do call 8668485699. 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It's the end of the year now in a few 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 some 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 required 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 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. A dating 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 80393. 4001. Or you can also downloaded for free at Armstrong advisory dot com. Once again that number is 803934001. 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 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 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. 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 781862119. Know the. 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 and a 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 your 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. Securities offered to securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. It's pretty hard to find a bank that as it 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 -- 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 were subject to change without notice leader bank a step ahead member of the icy. This is the financial exchange with the very Armstrong and chunks of you're exclusive look at business and financial news affecting your day you're simply. Your world stay informed and up today about economic and market trends plus get breaking business news every day it's. And now the financial exchange with the very Armstrong and chuck Exxon. So last night we all got kind of shocking news as it relates to Carlos Holmes he's the chairman. Nissan. And we're no and Mitsubishi and looks like he was arrested or talk about that Ross had talked about Michael Bloomberg and his gift. To the Johns Hopkins university of one point eight billion dollars that's a record. Hi everybody it's very truck with you here to Monday. And that's. Carrasco and I guess I'd I'm still shocked by this site I. I remember back. And as 1999. When he was kind of saving grace for Nissan Nissan was an auto company and on the verge of bankruptcy and he rode in on the white. Horse and save them. He didn't and pretty much who makes this so interesting right now is. Go was scheduled to relinquish his chairmanship within about two and a half years anyway so he was getting close to the end of his tenure there. He had already given back the CEO position. About a year ago. And it's you know this this comes out now in so you look at it you say. They what the heck was going on if it's true it just boggles the mind here's a guy making seventeen million bucks a year yeah. Like why do you need steel when you make that kind of money can't imagine. Don't know and so I I think obviously we've we do need to kind of wait to see you know what we get in terms further confirmation on this. But you know the fact is for for Nissan is not really any upside to getting rid of him now because he is going to be gone soon enough anyway isn't. And so I just I look at it and I just I don't. Quite. Yet what's going on it's it's one of those stories that's is baffling when you look at your not alone. Former New York City mayor and possible 20/20 democratic. Presidential candidate Michael Bloomberg. Is giving one point eight billion dollars to Johns Hopkins University the gift is. Believed to be the largest ever to an academic institution. Why did he make a gift of that. Dollar and I know I know why he gave it to Johns Hopkins is that Torre went to school he's from I believe it's Malden Medford Massachusetts yep huge yeah. Yet in what he did the reason why is this is going to be specifically dedicated to making Johns Hopkins what's called a need blind. University it's a pretty much what it means is that this will provide scholarships and grants for. Promotes low income and middle income family students from those families to go there without having. Take on the debt levels that they currently take on today. And let's talk about that because right now you when you look at you know the IVs or the small IDs even. They're largely populated. By wealthy while the rate of the kids of wealthy predominantly a lot of people receive financially but they still are. Largely. Schools that cater to the while and Harvard right now is is blind or right yep so they they don't care where you come from her how much. I guess they don't like Asians but yeah. If they they don't care how much money you have they just look at your application they say OK did you score well on your tests and are you good interview did you do well. Hopkins is this the old second school in the country to do that on nosedived there are a number of schools a bunch of IDs do actually a believe Yale does Princeton does I think citizen I should get them the best and the brightest they should be like. They should be getting better kids if they're not worried about that if the kids don't have to worry about paying the tuition to be fair and beat Hopkins had trouble attracting people begin with that this will make it easier mean you're talking with an OpenId right. They're one of the top ten or fifteen schools I think I mean there are really good school like there's some Smart kids that come out there. So this is definitely going to help and I think that the big thing is just it makes it so that college if you're going to Hopkins. Isn't a burden for the next 220 years of your life in terms of that student debt leveled at you than taking out of your college years into. Kind of when he first start off in the workforce it's funny how people are really attached to their colleges and universities. Last year. 35 gift to colleges and universities exceeded fifteen million dollars. That means that individual families right don't need that much money. 35 times right that that's a lot of me fifty millions of pretty steep threshold you know. They you know a tournament even million dollar if she got fifty million plus I have a good time in college and I'm fifty million dollars no no not not that that not acted. Hey I didn't know anybody who has a peanut allergy. A tightly unique you have a party. That's something you have to be conscious of this and be in it if you're sending your kid to school like a lot of schools will you send a peanut butter toast and audible now. And if the reason is what is it two and a half percent. Of kids being born today have a peanut allergy in apparently the the risk. Of peanut allergies in children is increased 21%. Over the last eight years from and so there is a company out of California called a it's either AI meaner I immune they're. If there is a way to me you know. For create a drug that allows subjects to actually eats small amounts penis without suffering a serious reactions not somethings that you know people with a peanut allergy. Could eat you know however many they want but if they accidentally take a biter get a whiff of something in the lunchroom well that's the problem not our end you know shocker anything that's why you don't get peanuts on the plane anymore if they ever notice again in the old days you know playing they give me a bag of peanuts. Now they don't so this is something that they are working on right now it's not is not been approved it's not for sale moment. It does have side effects they're trying to work the out. You know that they're trying to figure out hey are there ways that we can you know do something. Not so much to make it so that people with a peanut allergy could go and eat peanuts but just so it's not any risk to them. They wouldn't have they carry them by mistake yet in it would net carry the epi pen enemies act like if you're a parent. Of the child with a peanut allergy it's a big deal to get it Ian Wright tried teaching five year old how to you know use an epic patent. Yep and in in the the big thing is we we still really know why. We're seeing a greater incidents appeared out of the numbers are pretty shocking I mean erupt like 40%. Yeah it's it's it's a big deal now I mean it it really has. Become something that is very pleasing and Adams in the the incidents of peanut to have that wrong folks. The incidence of peanut allergies in children. Has risen 21%. In the United States since 2010. It it's a big increase nearly two and a half percent of children in the United States may have ate peanut allergy. And indeed medication that they're working on is an oral immunotherapy yet so. But that side effects I guess our problem apparently and in the at trial they were doing here almost 12% of those who started taking the drug dropped out of the trial just because the side effects. You're talkers always complain about the price of gas he drives so I can understand why. But Tucker you know how much gas costs in France. How much six bucks ago while I thought it was more too and we are over there and I used to connect the pricing. Now is in downtown Paris but it. The act I when my wife and I did the numbers looked like it was more like 7750 but you don't pay more if you're in the city rightly if you're in Manhattan. You're gonna pay a four bucks a gallon for gas is it a gas stations. But in Paris drivers are. Well basically the protesting against the high price of gas than there protesting against mr. McCraw and who's not quite as popular east. Yes then over quarter million people come on out over the weekend protesting these high gas taxes. That are present in France are now about 282000. People. Now blocked more than 2000 separate intersections. Preventing traffic from moving forward easily over you know the course of the day. And these protest kind of came up spontaneously over the last week or so they're just playing three weeks ago. Yeah and so it's something that really came up pretty quickly here. And you know McCrory is someone who was elected into office with an awful lot of popularity and and really his CNET popularity crumble pretty quickly. As he is turned out to not be. Quite as an adept A administrators he is a politician. You know with Loos curious as night when I saw this story set just check gas prices around the world that huge disparity between Russia. Has really cheap yes so does Venezuela. You get gastric twelve cents a gallon Yasushi movement in Venezuela but yet the problems probably don't have a car right right I get licked it and France tends to be on the higher end and we tend to be in the mystery trip because I paid 281 of the day forget. Demo mostly Europe tends to be higher in general net interest because is tax is going to be tough it is gas taxes in a lot of cases so most of Europe means to be higher in terms of prices there then so to give recent examples Germany right now. In this is according to Bloomberg and this is as of this as of October now soon Germany is 669 a gallon Francis is about 690s Spain is 590s in wages are not that much higher. So what's interesting one of the country's it's fascinating on this in Norway which has some of the biggest oil reserves in the world as part of the reason why they have just boatload of money. Gas over the years seven 81 again now and and it's not because they don't have access to insist they have high taxes in order to and a socialist country out and so US right now 315 gallon. World you want now Canada you can I do have Canada for 22 gallon so more expensive there that's all tax actually Venezuela actually have cheaper according to Bloomberg calls one cent per hour winds up on what they think they're they're able to attribute currency calculation the fascinating thing years of Venezuela's once and you just across the board Columbia it's 297 a gallon. They when we come back where it talked about Google's phone you know eighties apple as you know their stock is taken a pretty good hit. And Google's phone just came out with a feature. Well it's it's different from what apple the dietary apple has not been terribly innovative with their falsely worth talk about schools pixel. Vs Apple's iPhone when we return to 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 and jugs under on the financial exchange radio network. If your money saved for retirement you're ahead of the game because a significant percentage of people nearing retirement age haven't saved anything having the money is one thing knowing when and how to take it is another Titus is very Armstrong required minimum distributions are mounts that the federal government requires you to withdraw annually from a traditional IRA or an employer sponsored plan once you reach the age of 72 and a half I. I take calls from clients all the time with questions about this process so I've written a brand new guide available this month called understanding required minimum distributions it'll have all the information you need to make sure that you follow the guidelines set forth by the government without incurring any penalty to guide is free and it's your by calling 803934001. That's 803934001. Or you can download it right now from our website Armstrong advisory dot com. Juries are for two securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. 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 ski senior partner with a -- from of Cushing and Dolan can help time is an expert in estate planning elder law and taxation and if you're in the process of legacy claiming you need to call him right now and get his new free guide to gifts or not a gift in it you'll find information related to the gifting process with Texas issues may arise from a significant gift click at home or vacation property. And what happens to the asset of the child has creditor issues these are all things that you'll need to consider as you begin your planning some call 866845699. And get this free guide to gifts or not a gift that's 8668485699. Cushing Dolan has over thirty years experience helping families like yours let them help you do call 8668485699. Or download the guide right now from our website legally exchange showed 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 and believe me. I've that 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 Palmer. 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 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. 119 B at 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 has 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 of fury 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 -- all leader banks zug will rewards account has 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. Don't deposit to opener annual percentage yield is ten dollars to 23% interest rate messrs. until late fees reduce earnings re subject to change without notice leader bank 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. Right here on the financial exchange radio network. Our trivia contest is brought to five seasons 52 they have 43 locations nationwide including two in the Boston area. And one in West Palm Beach, Florida. Seasons fifty twos on a mission a mission to provide you with a better way to eat. Visit seasons 52 today in Burlington Chestnut Hill or Palm Beach Gardens or go to seasons 52 dot com for more. Menu information and reservations booked your holiday party today and get special gift for all of your guests and by the way. If you are the winner of today's trivia question you'll receive a fifty dollar gift certificate to seasons 52. 55 years ago this week John FitzGerald Kennedy was assassinated while traveling through Dallas Texas in an open top convertible today. We will be asking trivia questions about our nation's 35 president. What was the title of the first book written by John F. Kennedy you know the correct answer to that question. Textiles are tech's number is 63566. I would remind you. You need to insert the key word which is bear my name B a RRY. Use that. Were name and then the correct answer to the question. It's a three word answer. 63. 566. Is our tech's number what was the title of the first book written by JFK did you read that book a nuclear big. No I haven't I'm in the middle of marijuana prohibition. Snatched the top table last call 63566. Again folks is the text them. I Google pixel phones can now take amazing pictures in the dark. Getting a lot of very positive review and that's something. That apple has been missed an out in terms of an innovative product that catches the attention of consumers. Do you see this is kind of a standalone product or just an interesting feature interesting feature but like. I thought to myself when I read office said when was the last time. That apple came out with some new feature. On one of their iphones and I said well. You know that's cool I I would like. And every though. Now they've Apple's never first. They've always lagged the packets it's it's kind of how they do business to be honest and you know that may not have the first MP3 player. They just built one that was better competition didn't have the first Smartphone Blackberry was there way before them in. They just came in says Hayward is change the game as far as how the interface work you know they didn't have the the first tablet no one else to get travels to work of an apple came in Libya like. They're consistently. Late to the party yeah. And they don't have the best products like it in no acknowledged it's like you talked apple poised to say look like our phone probably isn't the best. It works the best with their entire ecosystem that's what they're selling likes me so I talked to people that know and in their forever dealing with. Easier viruses. Or breakdown issues service issues. It just seems like their phones never work. Quite as well as the night. Well you go out to be fair my wife is at all kinds trouble with their iPhone time actually she's at all kinds of trouble there's this stuff phantom typing bug that was getting into it that it currently is a really common problem with ten. Where it just starts pressing apps and sending stuff play without you knowing so like. It's it's a really common problem called phantom typing Google incidents are commonly known issue with the ten reasons apple does have some of those things that pop up. But that the big thing that apple selling it's not the device yeah it's the fact that it all works together and it works easily. Google's getting closer on that front just because they're trying to build on his Google home integration and stuff like that Yeltsin to get there on that side but. It's it's easy Apple's feeling the pressure to have some kind of news. Innovation or come out with something. No exciting now. It's this they just gonna chug along this is short term noise for a like anyone who looks at lake what's going on with Apple's stock the last couple months and dances RG lake like things are broken like Tim cook's not a good. Things are fine now it bit they're going to make bold he's got a too high on the top. I don't even Oprah got too hot it is like a member Buffett bought it then everybody said don't you know this is this is just a little bit of fear out there in the short term. And it's the fact is late. Apple's not 20%. Lesser of a company now compared to a month ago you know you know that they're not sitting there saying gee Ewing what do we do like this guy. Well if you're gonna buy youthful mood about it. Apple you would net about Utah oh it's I mean you've got back and forth on that day eat you know and in the past doctor you said am I try and and do more things for me was when you did an update with an older fallen to a new or software. The fall forges act in much slower and that really angered me but then they corrected that. But by introducing the two point nine all of that now now now what are out eight in retrospect. If doing the 29 dollar battery who's Smart move. It's so cheap that on analysts. Well it's good from a consumer standpoint about tea. I'll probably gonna keep my phone now for four years because I got more than two years out of the verse that upright keep this way is so. In terms of my buying cycle. And I in turn the your cycle that you guys are both on phones that are more than two older. Yeah I think that the key thing there at that there can be so. If you look at how apple managed the iPhone for pretty much 2007 through maybe 2015. It relied on its two year upgrade cycle. I want in 07 agree you get a new one in 09 because the technology to jump. All these companies are on longer buying cycles because the technology is not transform it if there's nothing out there you don't say gee I'm going from. You know to Jeter's three year and go from three G to forge you're not it's having something where the original iPhone people don't realize you could not multitask at all. You know it Allen Mickey unity and by dimension because if you buy an iPhone today. It's not five G adopt them yep I've gene doesn't matter but nothing is it it it it doesn't matter today. Line. Is that there is no five -- nobody in two years that he's makers start haven't people bind they get it's not affecting anyone now know is not buying a foot lake. If you hold. Because those are what your role and of those one of the reasons I didn't buy new followed us at your board formed in the average buyer like you go out poll Americans and asking hate deeds your phone need five GM some might say yes and they don't even know what the heck it is okay. But if you polled and asked Kate you know five G technology as it was and I have no idea this five G is. Pretty important technology it's gonna make all of our technology much faster and they're going to be of that if I want to. Download a large document isn't going to be faster power if I don't doubt so it depends what platform you're on. For mobile. Yes it's faster now at home it's not necessarily faster code isn't now and it's the the promise of five G is simply that you can have broadband speeds. I like high speed broadband like a Gigabit haunts him. You can have those kinds of speeds without requiring a hard line yeah that's that that's the promise of a if you already have Gigabit Internet access. It's not getting faster and you're probably talking many years before it's fully into it right now is the five G technology what he taught by tenure he could be longer me they're still having problems like little things that they keep realizing Soviet days the thought was that you could beam it and homes it needs on site beamed through the windows and while new windows that have coatings on the reflect the five G beams back actually. 88 we have a bit of a pullback going on today folks the Dow is down 283. Points the S&P down thirty. And the NASDAQ down a 148. Points it's very chuck. The financial exchange is alive on FaceBook so make sure like your page and watched the guys break down the latest on the market every day beginning at ten 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 ski senior partner with a laugh from of -- and Dolan can help time as an expert and escape claiming elder law and taxation and if you're in the process of legacy claiming you need to call him right now and get his new free guide to gifts or not a gift in it you'll find information related to the gifting process with Texas issues may arise from a significant gift click at home or vacation property. And what happens to the asset of the child has creditor issues these are all things that you need to consider as you begin your planning circle 866845699. And get this free guide to gifts or not a gift it's 8668485699. Cushing Dolan has over thirty years experience helping families like yours let them help you do call 8668485699. Or download the guide right now from our website legal exchange showed dot com. It's pretty hard to find a bank that -- 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 about all leader banks zug will rewards account has 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. insulate these reduced earnings re subject to change without notice leader bank a step ahead member of the icy. Are you having problems the block sink or drain. What really 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 capable. Qualified war. I talked easy coming in 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 of your issue and make sure that it doesn't happen again all you have to do is call today and your plumbing problems. They're history call easy plumbing at 781. 119781. 8621190. Or he can visit them online at easy on the MA dot com for more information Massa master license number 10183. Again the number is 781862119. No folks it's chuck and Mike from the financial exchange we're talking about required minimum distribution for getting towards the end of the year now. In a few over age seventy and a half. And you have IRAs are 401 k.s are for a three b.s you have to take out those required distributions before the end of the year. Otherwise you faced some 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've failed 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 wire distribution you can be phased in 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 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 accounts. 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 800. 3934001. Or Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are there securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. If you missed any part of today's show not to worry good financial exchange showed dunk comment click glisan. Then click on demand and catch up on every segment. You'll also find podcasts of all of our full show us just punch up that listen button had financial exchange showed dot com. John F. Kennedy author his first book why England slapped at the age of 22. A lot of people thought it was profiles in courage for PT 19 it was not profiles and her it was why England slept. But when I was 22 I was just sleeping most of the time anyways. Our winner on this question was Cameron from New Hampshire cameras taking home a fifty dollar gift certificate to seasons 52. And with 43 locations nationwide including two in the Boston area and one in West Palm Beach seasons 52 was on a mission that mission. Is to provide you with a better way to. Visit seasons 52 today in Burlington Chestnut Hill or Palm Beach Gardens or go to seasons 52 dot com for menu information and reservations. Booked your holiday party today get a special gift for. For all of you or do you. Us suggesting that day JFK wrote that book. At 22. Because his old man was a Nazi sympathizer members it has didn't know that you didn't know that no. He and bundle every and to Afghan. Please that is filed in the latter about him either. He's absolutely but so they made him and I did know that okay but it did not know a whole lot more you know he got a watch a History Channel. Amazon has a little known program for businesses that's on track to hit ten billion with a B in sales this year to an interesting. Product that they have I've heard contractors talking about this but it's not just contractors using. Yet as there Amazon business platform and pretty much. It allows you access to near really the same stuff that he can buy just about anywhere else except you can get all kinds quantity discounts. You can set up favorite suppliers manager recurring things both of would you there's all kinds of multiple users there are you can set a Pallet delivery if you have big items that are being delivered in things like that. Now all kinds different payment options for you. Here's what's interesting goodies the they have four different levels right so if your small business. You pay 499. Dollars to be a member and then you have ten people. That are users who are allowed to. Order yup yup. If you're a medium sized business that gives yup 200 users but you'd pay 1299. Dollars each year in and if you're a real big company. Then you're gonna pay. 101099. Dollars per year election 99 dollars really gets the but that's ten billion dollar business and giving. Oh yeah its owner to make him any money. My guess it would Amazon intends doing their retail it say let's let's freaky you know that's that's how they run their retail pricing in the retail businesses. Let's break even on this will make it up on the back and some morals. Oh appealing to industry takes New York to court over new tax. New York from what I understand is they're saying hey. We've got to treat all these people that are addicted to OP leads you guys made a lot of money sell the drugs to our citizens so we're start taxing per pill. Please sell yet New York pass of the called oak OP you weighed stewardship backed. And pretty much the the largely sent bills to assembly five different companies saying look these are charges that are based on the volume in potency of the drugs that you sold distributed so we're gonna start. A charge you for that again to try to fight PO PO in problem that has come up and companies are pretty much sand. Now we we don't really want to be the answer if they're so into. They they are suing and I get wider soon because obviously they don't want to pay up. But. I think the problem is that. A lot of the responsibility does come back these companies when you look at a lot of the browser you don't wanna pay for error somebody's treatment I don't wanna pay for the treatment right they think that's that's really were talking about it the be the it's whether the tax payers. Paid for some of these drug addiction treatment or whether the drug companies that told them the drugs for the treatment yeah and in in I think just again if if you look at. How within that chain kinda goes and so force it in we've seen these the reports there there was a huge study can't remember when it was I think was about a year and a half ago. About that the types of things that OP which were pushed for and in how they were pushed no now we developed these extended release tablets that you know they don't release everything at once but then people started crushing them up president Ike and the doctors are telling you know while we do knows that that. We didn't know so addictive. And I don't that's that the doctors are told they wore and and so I I look at this and I say look keep you can have it. One of two ways if you're drug maker Nokia that actually makes open either a you could sell 600 million dollars less worth of products now. Or beat you can get charged for when you're selling product to people who are abusing it and probably should have gotten it to begin. You know so you you you can't say hey here's this great thing but not take responsibility for any beside. Shame on the doctors for over prescribing. And shame on the drug companies for because basically what happens is. Those drugs are marketed by sales reps for the drug companies and their sales people they're not doctors Norton and they go around the no I guess they're talking points from their their management that the scientists who were selling these things you know there's so that's look at the docks are supposed to know better to. They are. They are it in I think in general most doctors do know it's it's not every doctors over prescribing is a mean. The Grammy doctors you've gone to where you know you see GM have a truck it's not offer her hasn't pearl are very specially today so. It's not every Doctor Who with your again surgery. They're giving hope that it like tonight my appendix out they gave me it took two of them was like this is awful I don't want anything to do sir I was I was like and don't like to I'd ever taken because they don't just take Advil and called date is I. Did not like it one bit he. So was there. Which where the open you it's much better in terms of pain relief because my son had a similar reaction he he he got a prescription when he edges Achilles done. And what it's like that they just they knocked me Allen goes on the couch I couldn't I didn't wanna do anything it was just likes it there liken it. Dreamy stupor kinda mostly this is not what I'm trying to do here you know so the pain relief was. Much more than what you get on Advil obvious is it. But it's I just I did not like how they made me feel and I said nope I tried to these let's just call today not do them in good. Folks if you have money saved for retirement you are ahead of the game because a significant percentage of people near retirement age haven't saved anything. Having the money is one thing but no win win and how to take it in dollar. Required minimum distributions are mounts that the federal government requires you to withdraw annually from either traditional IRA or an employer sponsored plan. Once you reach the age of seventy and a half. We take calls from clients all the time with questions about this process so there's a guy doubt this month called understanding required minimum distributions. It'll have all the information you need to make sure that you followed the guidelines set forth by the government. Without incurring any penalty. The guys free. And it's yours by calling 80393. 4001. That's 803934001. Or you can download it right now Armstrong advisory. Dot com. Juries are for two 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. Do you see much lamb. I no I go through phases. He's again it after Easter because that's when it goes on says. Yeah I go through phases where I'd like he's been out Alam oats it's delicious it's it's a little tougher. Then the beef is that all of that it's just a little. I never told me nervous a little never here and there are diarrhea I only Jennifer brought to you have just never one of those things that there's never attempted to -- get the lamb chops you know those you something like that reason I bring it up it is it's I am the it it's really all farmed in New Zealand and Australia. The bulk of it yeah blown up in price it is you've got to in particular it's going up the price because of rising US consumption. In the reason why is he seeing. In awful lot more ethnic food it requires the use of land in the US and so that's actually what's pushing things up at this point to. And so wholesale lamb prices Europe Matt 25%. Ian a New Zealand but if you take a look at its you know. Some of the prices just in certain countries to get purse increase of 045%. From the year before I was looking at the stats Americans. Eat on average one pound of lamb compared to 57 pounds of beef. And fifty pounds of pork. That means it's Utah one out of fifteen Americans don't much pork. He went on like worksheet in what port street where trying to donate a lot of BI paid a decent amount of beef. But I tend to be especially in the summer berries have been finished. A lot of fish. The duties anomaly of sheep meat consumption in the United States has risen by 40%. Since 2011. The big spike in seven years I thought it was just my wife like it's tougher than I it's it's it's a in it's a tricky preparation talkers in odds it's it's not as easy as it's it does a very tight temperature range that you have to keep it and you know. You don't want overcoat at all. Be glad you're not China you know when they buy it when a Chinese airline. Buys a Boeing jets they finance they don't pay cash. But when they finance it they finance it in US dollars and that's why China is really struggling. Could their currencies going down and have all of this US dollar denominated debt they they do and so they've got this this dollar denominated debt in the dollar has strengthened. And what that means that it's more difficult for Chinese companies to pay those debts back here they're not earning their revenue in dollars they're earning it in their local currency when they sell plane ticket when a Chinese airline sells a plane ticket they're selling it in their current. This is why China wants to get away from a dollar denominated system. And you get away from and I want you wanna buy one of our jets. We're not gonna take you know you like it W like Mexico saying well we want to pay you for your jets in place to. Pace at all. No it's it's it's not that they're going to be able to pay in you want mean that's that's not the expectation but if you get away from a system in which oil the most. Really the most important body in the world was priced in dollars and dollars exclusively. It gives you a ton of leverage in terms of how you negotiate other deals and beyond that it is gonna drive down the value of the dollar making that debt easier to pay off that. And did you think hey this is coming I'm telling you this is com why. They can make I hear you say that and then I asked myself OK what if trucks right to win if we're gonna get away from the US to where we don't. You're going to see more of China using their own currency for their trading partners and the other thing but who's who. Let's say they're trading with Australia think Australia is gonna take you. No but what's going to happen the other thing the China is doing with the air oil futures contract is they are allowing it to be settled in gold and then now permitted out in the local currency of their choosing. Now this whole thing could blow up as time has had problems trying to set these things up before nobody trusts that it doesn't matter when they're the biggest market in the world no one cares that's how the US I can only do cells. It doesn't matter lake went. When they are the biggest market in the world they do buy things while every company want to be in China night if that's in the statement in my apartment day. They export a lot more than they do. But here's what we know that they are going to be Verity are now the biggest oil importer in the world now they are starting. To turn the corners as far as having to move to a more consumer based economy they're running the exact same plea but that the US ran after World War II. It's the exact same we talk about their built in broad initiative the differences people trusted us countries trusted the United States nobody in their right mind would trust trust the Chinese I'm not saying that they trust them but I'm saying they realize they have to deal with them and it in as a factly it's. You can't get away from the gravity of their poll is that strong because of how big dale. Up next will be joined by Tim Stephens and take a look at a new car it's the Genesis is at a new car but he did Genesis G-7 I don't know if it's new it's new model year lease on. That's our look at a renewed doer review of a car. On a day seven again Dallas down 320 point scale like that will be your attack. The financial exchange. All of her new 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. If you're at or near retirement age legacy planning is something that you're going to want to be mindful of it goes without saying that we wanna leave our children in great shape for camp but gifting RSS be at home or vacation property can create huge capital gains tax problem and the kids choose to sell the home Todd let's keep is an expert on elder law and taxation and he's been helping families like yours with their state planning needs for years let him help you do if you're beginning to think about legacy claiming for your family. Go for drugs brand new guide to discs or not to gift at 8668485699. Gifting assets to our children has special meaning but if the children have creditor issues or go through divorce problems to arise the could be disastrous. Protect yourself and your family by getting this free guide to gift or not to give you worked a lifetime accumulating wealth. Now you should spend a few hours to make sure it stays in your family the right way call 8668485699. And that's 8668485699. Or download the guide right now from our website legal exchange showed dot com. I this is very Armstrong and I've been doing business with leader bank for many years it's not too late to get a great rate on home mortgage meter bank specializes in a wide variety of purchase and refinance loans at some of the most competitive rates in New England. A dedicated loan officer will work with you every step of the way and their local decision making music faster closing we're bank is the number one purchase wonder among banks in the state they have sixty loan officers throughout Massachusetts Connecticut and Florida who were ready to help you find the best solution for your mortgage needs at some of the best rates around call 8776917900. That's 8776917900. Thing get your great rate on home mortgage call now and they'll mail you a free residential mortgage survival guide detailing the home buying process from pre approval to the closing 8776917900. Is the number to call or visit them online at leader bank dot com. Member FDIC's equal housing lender MLS number 449250. Subject of credit approval leader bank a step ahead 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 to have you are required to start taking withdrawals from your retirement account of course questions to arise how much -- -- 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 Everett a brand new guide which can help you with this process it's called understanding required minimum distributions at its 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 -- Armstrong advisory dot com. Terri suffered a securities America incorporated members in SIPC and advisory service is over the securities America advisors incorporated Barry Armstrong representative 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 you capable qualified work. I talked easy coming 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 781862. 119 B that 781. 862. 1190. Or he 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 ain't member finreg SIPC an 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 Doug come and sign up today. Tim Stevens from CNET roadshow joins us now to talk about the 2019. Genesis G seventy Tim thanks for joining us today how Loria. Harari. Doing well also what what is the G seventy what what cars that compete with to begin. We've got the G-7 B is a bit late attempting to be exported and taking on some of the well known cause like the BMW three series and that out before yours has been Adalius portrait was going up against. And he Jakarta have been on the market that are really highly regarded and sort of as a pretty much original call. Yeah minutes that's a tough niche to try to break into. How well does it do. Surprisingly well actually Genesis because spin off of Hyundai and Kia. In doesn't Marc have made some really major step forward over the past couple of years and we actually really liked the way that you have me drive it. A little bit smaller and lighter than acute stinger which is itself a really nice sports sedan. Up to that you very engaging to drive you can even get there with sixty manual transmission is becoming really difficult to find if you are looking more engaging. But a larger luxury sedan. That's really actually. What what features stand out compared to its competition what features are lacking. I don't believe that Hillary perform are really nice features but also the technology suite is pretty comprehensive as well a lot of nice interior technology. And pretty solid standard safety technology is hoping to get after breaking things like that. But ultimately if you want the full on tech package at that point it's also taking a cue from his German competition that there are a lot of options Spock which you can pick. And things can get pretty expensive if you want things like adaptive cruise control for example. Or more advanced. That the city beach is looking at options packages that in cost between violent about. What's the quality in this compared to what you see in you know the saudis and BMWs the world. There are so look you played through word of the interior isn't quite up to the same standard from those the German competitors are with him before but overall it's still really within NASCAR. And ultimately when you go expect respect against singled carted significantly cheaper so it's a bit of a value play bill but to go brought a really nice looking car and stored in arena card. In terms of odd that the price range that you can BA and on this where does it start how high can you and. Sort of about 35000 dollar and that's for the debates to leader to a 52 horsepower turbocharged motor. If you want the bigger motive at 3.3 liter twin Turbo V6 that are about 45000 dollar. Those are booked for rear wheel drive all wheel drive that you back another 2000 dollars and if you want the full spec car fully equipped. Looking at low 50000 dollar mark which is about the same rights as a basis Audi a four without any options and also against significantly cheaper in the published. All right very good Tim we appreciate you joining us have a great Thanksgiving and we'll catch up with the next week I doctor. And Stephens from CNET roadshow talking about the 2019. Genesis G-7 it's good looking car I'll tell you that. Mean don't you worry about housing sales psyche you got that housing. Index this morning you pretty weak right well it was still a strong index but it declined way more than expected and if you couple that. With declining auto sales deaths. You know that's a recipe for disaster OS on a great stat I'm pulling it up right now just because I saw on Twitter today it was from. Police the Brahma bitch from Bloomberg's use kind of their bond expert and everything a year ago. So it's auto loan originations by credit score this according to the New York fed. And over 55%. Of auto loans for the most recent forty exercise an up tick in auto loans for the quarters because they are good. Over 55%. Though are made now to people with credit scores below 720. Now it's 720 at that scene in particular of the number eight if you go through the data and power back power and air on 3035%. Are below. 660. You know so used to be. A little bit delinquent in and that's where a lot of the growth has happened that's the problem is it's being in those lower credit areas and those are probably the people who should be buying used cars. Yes or does this say not specify used or new. All it doesn't that was all auto this is all total all know so what do we sell per year in terms cars themselves to an island but we sell project 4050 used car trade. I don't know how many used cars is a lot more than yeah the new cars you know camera is a multiple. Used cars that get sold. Relative to new cars yet it looks like Ian 2017 it was 42 point seven million problem is cars are last in two. They army that while mate now now they can do that used to be you know after Karros for five years old got rid of it now I have to do. Folks bad news from Wall Street the Dow down 405 points the S&P down 41 points and the NASDAQ. Down a 183. Oil is down 36 cents a barrel. And ten year treasuries are three of six.