Feb 21, 2019|
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
This is the financial exchange with the very Armstrong and sharks are now. You're exclusive look at business and financial news affecting your day you're simply your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. We're continuing to play catch up as early state economic data. As a result of the government shut down that occurred in December and January. And unfortunately. That date that we are receiving is consistently. Weakening. Hi everybody it's very truck with you here it is a Thursday morning and you know if you looked at one of these pieces of economic data chuck you might say to yourself OK he had a Philly Fed who's down who's a big miss dumped into the world. When you couple that. With existing home sales being disappointing and leading economic indicators being disappointing for the second time in a row the cumulative. Effect of that is leading stock investors to sell some other equities. Yen and in what we got today was that existing home sales number four. The month. It was January December that we got. Jim well it was. 20 yeah and now we got January. And it was bet it is no weekend sugar coat it it was a bad piece of data. If it was I think you know in general when you're buying a house won't say it from from the time that you place an offer on the house to the time he closes its safe to say. 45 to sixty days is kind of the lead time you're looking out there. Yeah I mean it's less snapshot that it was years ago when you when it back in the eighties when you bought a house news. You know ninety to 120 days calls but I it's now 45. Sixty seems about right where when I've made my two purchases that's that's how long the lead time was from. You know site beginning that offer back saying hey we've accepted to actually closing. And so when I looked at January home sales those are buying decisions that are made likely in November and December where. If you're buying property in November and December are saying gee the market's fallen apart right now not feel so good. Do what I want to be buying a house in this market. My gut okay in this is again BD I have to get. After caution everyone about trusting my gut it is you know if you see what I eat it's not necessarily the healthiest of food. But I do think that in February in March. We're gonna see a little bit of a rebound here and again I'm I'm someone who as being in the bearish overall on housing but I am bearish on it simply because I think it's so tied to equity markets these days. That's when you have a short term dip like we did back in December I think it throws the whole housing system out of whack just because so many people are dependent. On pulling money for met Weezer will be inequities to feel wealthy that's it affects the entire buying process so. Well and interest rates have declined since November as well they if you look at the third of a ten year treasury back in November is probably covering. I don't know. In good forty to fifty basis points higher than where it is now and now mortgage rates have come. Yes and this is a bad number he does confirm that hate you descent. When you look at these two months back to back now it's his tape you know but the one of them was not in Al wire there's something real going on here. But I've been of the opinion I've stress this for probably the last year now that. The overall health of our economy is more heavily tied to the stock market today. Did it ever has been in the past and I think housing numbers are 888 key. Indicated that that's true. You know. There a few guys follow college basketball or it could college basketball fan. The whole year when he bigger yeah sleek design and Williamson. He's of the top college basketball player in the country. And one of the best NBA prospects in the last decade. Lost and it was it was lost to a knee injury cost us if I didn't watch it but I've seen pictures of it he was wearing a Nike you. And that just reported that the issue exploded into his weight. It did its I've seen a couple of these before there was one wanna say Tucker do you remember the monitor no we want. Injury know the where he blew through issue now. There there was one of those city. You see these occasionally with the a players in different sports you see a lot of football actually just because the guys are so big and there's so much force being put on the issues you you see it with offensive and defensive lineman on actually. Zion Williamson weighs 285 pounds so we pretty much is it offensive or defensive lineman. And pretty much what happened was he. And the whole shoot just pretty much the bottom of it just ripped away from the top. And he felt rather awkwardly and it said that he's got a guy knee sprain as a result of vets. Cut about a lot worse. Because of a melee defer when I first thought I was like dude that looks like it could be you know an ACL injury. But they're saying it's a knee sprain but the fear for Nike at least two makes the issue. Is do you does not really the kind of publicity that you won't win you you know you're shooting worn by the best and and probably most marketable basketball player coming out of college basketball. I would say Tucker it in terms of Zion Williamson and his. Or that he has his marketability. I would say I mean again is that the closest comparison in terms of the buzz he's getting not saying he's this kind of player is LeBron. Yeah I mean I can't think of anybody else would this kind of cause. You know heading into the NBA maybe like Kevin Durant. You know there's a lot of buzz around him but yeah I mean they need to heat and have the seems like it you can have the same while factor when right want to let you know if this is any other player this is a non story. The very the question I have news he's wearing Nike issue. Now who's getting the money from Nike pro funny you should ask that it did not lie on it's it's not Zion that will be Duke University. Okay that's there and visit the eat cat they split revenues. The nose of with football it's all the television money split to you on something like this where. I guess I'm assuming all the duke players are wearing sneaker. Yes so apparel contracts are with the specific school not with a conference or with the open or with an overarching organization like the NCAA. So the apparel contracts are direct with the school and they include things. Such as obviously you know hey we're gonna pay you X number of dollars number one. So we're of these the end of his shoes jerseys warm ups whatever it is in on top of that. It also comps is a ridiculous amount of Euro giving example. I was a Dartmouth football player when I was there we were back locally we were oh intend my senior year I take no pride in saying that the justice and like I have to reference how bad we work. But now I've got it at Tucker a kind of glad I know that. Aren't you hey look we won the Ivy League title are tied for the Ivy League title coupled near to the last three years I think it says. Matter we know date a year you played his senior year old when Ted you shouldn't have told us. And I'm over it doesn't really matter to me like it it got suckered are gonna use that for quite awhile yet doesn't like it is rapidly what are you gonna do weight teach you that. OK I played pro active college football like this Detroit Lions is likely Detroit Lions yeah I've I played two division one college sports meaning I was in the top 1% of all athletes in both of those sports yet you apple intends. I don't care. Don't like it I don't I it's it happened late you have to accept your failures it's like. It happens I can't say the words I want to right now but it happens here so to give an example we were a not good college football team at the time. Every year I would gets sweatpants sweatshirt multiple T shirts warm ups sneakers. Underwrote like all kinds of all let's all free all that stuff that parts of the college. I I have no idea. I had no idea how much the college made but. I would imagine that the Dartmouth College football program is not getting the kind of deal the duke basketball is right. So much my guess when you look at the the numbers on a deal for a school like duke basketball. I would imagine it's somewhere between five and ten million dollars a year. That's big money that the antibiotic that might not be just for duke basketball is Nike does the whole pro like the whole athletic department that might be the overall thing but I would imagine it's somewhere in that ballpark. Reno what the situation that Nike's gonna have to come out with. You know to make good about the situation just to protect themselves from a PR standpoint and for product standpoint because your sneakers literally exploded at the forty minute at forty seconds into the game to game was two nothing. And the stock is down the right staff used out so I look I think that's an overreaction. That's not done much style percent. Yet you make I look at and yet it's not good in that hey it might affect their ability to get this one athlete but look at the end of the day if Nike comes by. And has the biggest offer on the table and the best package for him when he goes pro. Again money typically talk. These kinds of some two oceans we see of that is injuries to. Yeah it's it's not expected to be anything serious and don't know these injured at that type of injury in spring is cumulative. But Leo what I don't even know how much. I wouldn't be shocked if he didn't play in March Madness because it was to protect his MBA course how. As I mistaken I think made with right with sit down get it done and you. You and by the way that's a problem that the NCAA had with bowl games over the last couple years with the whole bunch of the top prospects for the NFL draft sitting out bowl games and the the NCAA senior go and what we wanted to play because you know it's we'll all watch the bowl game this what we're trying to sell. And I think every athlete out there should say you want me to play you had me but either either you pay me or you let me go and earn money based on my likeness so. The NCAA should do chuck assay will by the insurance policy you lakers can object like silence and analysis Garrett don't know what's it. Which is guaranteed contract putting graduates twenty million in that ballpark I say they should just say we'll buy you twenty million dollar insurance policy. I'm not none of wood in what other business do we say hey you're not allowed to earn much like. Yeah it's. It it it's not slavery. Because again ladies it's it's not so you can't say it's slavery. But in what other business do you say no you're not allowed to earn any money based on your talent. Sixty. 3%. Over 1993. Registered voters surveyed earlier this month. Believe upper income people pay too little in taxes this is according to Politico. That as a survey result our poll question today is do you think. That upper income people hate too little in taxes I'm curious to see but the results are. Of our coal reverses Politico news poll. And I would remind you before you vote in our poll question today remind you that. You know people light. John Henry. People like Bob Kraft people like rate down Leo. They pay a lower rate of income tax with a pay 20% income tax because they tickle their income is capital gains. If you would like to vote on the question you can visit our website its financial exchange showed dot com or you can text us at 63566. When we come back and be joined by Karine Boston. And where and try to read the tea leaves as a relates to the Federal Reserve because they did in fact issued their report yesterday. Kareem Boston is next on the financial exchange. No need to stare at the charts graphs and numbers all day just listen to us it's the financial exchange with Barry Armstrong and chuck signed up on the financial exchange radio network. 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Or visit them online at leader bank dot com minimum -- open and earn annual percentage yield us ten dollars 2.3 3% interest rates mass residents only fees may reduce earnings -- subject to change without notice leader bank a step ahead member FDIC. Getting married is one of the great pleasures in life growing old together in making incredible memories is something that can never be taken away but as we grow older the death of your spouse is something that is painful as it is you need to play it for hi this is very Armstrong in my firm the Armstrong advisory group has a brand new guide out this month to help you prepare your finances in the case of a spouse's death we have identified several strategies that can serve as a guide including sharing the responsibility for monthly expenses updating specific beneficiary information in examining how to clean your Social Security benefits call right now 803934001. That's 803934001. -- get your free guide today you can also download your free guide right now by visiting Armstrong advisory dot com. Dirty suffered histories and are incorporated member and SN BC and advisory services after she turns America advisors incorporated Barry Armstrong represented a strong advisory group the securities America companies are on affiliated representatives a secure is America do not offer legal or tax advice always he did voice and professionally with the laws in your state. Hi everybody it's very Armstrong from the financial exchange and I'm joined by Jake to Lee who's the executive vice president of leader bank. We're talking about SBA loans you know we hear a lot about SBA loans small business loans Jack. But I don't think people really understand. How they can be used and why they're so valuable to the small business community. Thanks very yet we had been really focused on providing small business lending to local community and local business owners. And the programs that are available power very helpful so we Europe preferred SBA lender you know what that means is that. We can quickly make decisions and under rates small business loans in house. And to be used for right purposes for small business owners give us an example. Well one example that recently happened was there was a restaurant in Cambridge when I was growing very rapidly they are always full occupancy. And the space next Jordan became available. So they wanted to. Take on that space needs capital to sort build out. The restaurant. And you know was about a 300000 dollar loan. About it how many years did have to pay it back typically these types of loans vary anywhere between five to ten years lots of time. So you know we were able to quickly make that. Underwriting decision provide in the capital expanded at rexrodt has grown tremendously to him as just wanted one of many examples in when they're landscaper or. Factional services unit loan officers that are available to blog talked a small businesses we have dedicated small business lenders. Folks if you wanna learn more about small business loans cult leader bank there one of the best in the business 8776917. B 900 is their phone number. Or visit them online leader bank dot com 8776917. B 900 Unita small business banking partner leader bank is the one to think about. 8776917900. Security suffered through securities America each member senator SIPC an advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated 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. We're joined now by careened Boston whose chief economist for triple why associates. We're gonna have a conversation regarding the Federal Reserve and quantitative easing good morning Kareem welcomed the show. Here. Kareem quantitative easing him in panic we needed to score back in time to I guess it was what 2009. When the Fed started buying. US treasuries longer days longer maturity US treasuries Azeri. That's correct I mean. That that always held treasuries but you know they would pay you know it was not for monetary all of the related. Purposes in a new app is. By. But they're about to be the demand for cast that. That balance he always true and all at treasury but. You meet with clearly you know the above and beyond that it that the quantity he the average maturity. There are. You know grew to be what about four and a half trillion dollars when they were all said and done. And what did it start off with I quit what was it save maybe back in 2008 to 2007. With the crisis. Well I'd have my try to front that would they would probably close to about a trillion. So it's pretty big increase say they quadrupled the number of treasuries at their whole. Or. With what was the impact of that frequent when the Fed all the sudden started buying these up would it due to pricing of treasuries. Well I think it's hard to deeper side and you know it'd been a shortage of academic studies that tried estimate impact. You know bickering to a study is maybe and air raid or anywhere from. What he. 208 points lower than they otherwise would have been you know. And it argued that the angle that we've that they've ought to be back verses. You know I think a lot of people by myself included with they'd do it you know signaling if that that. You know wanted to was irked at treasury he use would not be great Andre. And so you know expectation. The first on trade which he pushed them further out. So what did we learned yesterday from minutes. That we didn't know before yesterday. I had a lot I think maybe a bit more for it in so you know before. Encountered about ability of art it is the number. It parity that out of court four went the reduction of the balance sheet with gonna be. Completed. But it hadn't really provided but that way that the big eight and so what we yesterday it was. You know a general outline that they're going to be done read you'd think the battle seat back yet. So they won't in the what do they do just hold the four trillion that they have left in perpetuity year will they just you know wait there with what I am. League bull you know that number will starting creeping again you know as it did before QB. Started though few words. That'll be a buyer treasurys again. That year and a pretty art buyer at bat but. They would they again those are. The Thabeet he beat the band bird passed out of the oh Burt he. Right. More outrage toward the board. There. That's what people are at a wanna know the answer to les is this already baked into the rates that we see today or should we anticipate. That mortgage rates and interest rates are gonna decline. In late two when he nineteen or maybe go to twenty to one. It should be baked it you know I think again it darn good news that got out. Individuals. Our department it's gotta look at this but. You know one other distinction is that if going forward that balance see they want to have the Oakley treasuries. Europe mortgages and so they will it be to let you know the mortgage. Holding. Right. Which music at the bar that any port treasury. They where they are. Again age it should be neutral but again. We've ever been in this situation where we had tea. Prologue you the Apatow and correction of that at Andy got that correct. To be there. Corey do you think that what's going on here with the Fed's and now moving to end this balance sheet runoff. I think a little bit sooner than people were expecting. Do think it's an any way tied to the fact that you're not really seeing much foreign demand for US treasuries at the moment and that the Fed is realizing hey we might have a demand problem on that side. And it sure did the civic there related or demand but it could be it blows the that this kind of an idiot out yesterday that from. The volatility that we've done a market that the depth bird. People all the but it you know not really be clear on what the balanced policy was. And I think they've beat Philly at this carpet that that guided. That what happened. Or you know culminated yesterday. But it didn't play. Any readings on inflation or any comments as it relates to inflation that sounds like there are surprised almost that the we are seeing more inflation. Acting there's a couple of big dark day you know if you were to have passed that two years ago that. You know we gonna have over 3% growth economy. Any need you know on McCurry dropped below 4%. He wait broad prize the 3% to go where are they going to be where we are now is definitely lower than what they would have predicted. Adding that you know. Those other factors are played in by the rate so low. We broke it it. Couple of will be meeting that he it's not expected though. I would today. How are they. Forget Karine thank you very much for your time appreciate it. At South Korean Boston good friend of the show and his he's the chief economist at triple by associates joining us on the financial exchange. On a day where the Dow is down 78 points and the NASDAQ is down. 47 points when we come back we're talking about come back to Massachusetts power line. One state in New England stands to benefit to the tune of hundreds of millions of dollars to talk about Batman returns. Like just on FaceBook and follow us on Twitter. Show breaking business news is always burst right here on the financial exchange radio network. 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Or visit them online at C deposit dot -- member FDIC -- -- a step ahead -- to. Loss of a loved one is hard enough when it's your spouse and you're not prepared for the overall damage can be severe this is Mike Armstrong and our shark advisor group has written a brand new guide to help you with your investment strategy in your overall financial well being in the case of the spouse's death or several strategies that we suggest you consider including creating a spreadsheet of all assets pulling all wills and estate plans in compiling numerous documents such as life insurance policies mortgages in tax returns all of which will contain crucial information that can help you through this difficult time call right now at 803934001. That's 80393400. Wanna get your free guide today and I'm sure you'll be glad you did that number again is 803934001. Or download it right now and Armstrong advisory dot com to. He suffered two securities America incorporated members and SIPC and advisory services officer securities America advisors incorporated Barry Armstrong represented at Armstrong advisory group the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. 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Or downloaded right now and Armstrong advisory dot com securities are protestors America incorporated member of -- RS IPC and advisory services are for the securities America advisors incorporated Barry Armstrong represented a strong advisory group in the securities America companies are unaffiliated. Time now for street watch a look at the market's performance so far today to marry in shock right here on the financial exchange radio network. Time now for Wall Street watch brought to you by leader bank if you're in need of purchase or refinance loan leader bank has some of the most competitive. Rates in New England a dedicated loan officer will work with every step of the way and their local decision making means a faster closing. Call right now for more information 8776917900. Or visit them online lead bank dot com member FDIC. Joining us on the line now is Mike Armstrong and Mike let's start first. With Equifax last time we spent a lot of time talking about them wasn't week seventeen with a big data breach they had they're up about 3% today what's going on company today. Yeah I mean obviously had been very volatile New Year's events in the data breach. This morning there are accurate record percent of their earnings release. They had a few special items that if you exclude those you know a special one time items they had earnings per share about 38. It is a decline year over year in revenue fell about zero point 4% Europe for years so yeah. There is a little bit of an issue with this but generally speak analysts had been expecting far worse. They'd be expecting it dollar 32 per share of profit so overall slight beat an abstract stock up today in spite of what again has been a very well yours. Hope part moving up about 4% today they're also now up blow little over 10% for the year what's going on with them. They are in this the company that had a pretty difficult. Last year especially the first half they had a lot of hurricane damage from hurricane target area and artist salvage company. So pretty tough year in the first half in Q2. Back this order is they've ordered wrote that revenue growth of five points its century year. There's services revenues that they're vehicle sales were up so we have pretty good across the board to their overall margin. Increased 42 point nine cents. Pretty pretty impressive quarter and stopped. Very good thank you Mike. Michael Armstrong with Wall Street watch presented by U leader bank. So I don't know if you've been following this story about the hydropower from come back or not. But for years. Massachusetts was negotiating with New Hampshire because I think that was the preferred route to bring the power of down from compact track. And they failed that we could not negotiate would deal with. New Hampshire so we ended up our fallback or plan B if you will was to negotiate with me sounds like they're gonna do a deal with me. Yeah it looks like they're getting quotes I'm still with the work. I feel like I've been Charlie Brown so many times on these types of proposals that I don't wanna get my hopes up necessarily. But effectively. It looks like they're getting closer and here's where things stand and here's here's why it looks like things are closer right now. So pretty much they're trying to build his down through western Maine. Closer to the New Hampshire side in post then you know the of the far east side a mean yes and so. What they are doing here it's called the New England clean energy connect project that's what it's been re branded ads now. It is a 145 miles and what they've done. Is in negotiations with the state of Maine as well as also talking with the conservation law foundation. The appear. To be putting together a settlement for Maine residents. That's gonna be valued at about 250. Million dollars primarily. Rate low rate relief for mean electric customers. Over a forty year period now one of the potential. Drawbacks here is that that debt settlement is paid over forty years and so couple groups are estimating that stock and provide any meaningful relief on a monthly basis because it's spread over such a big time here. So you might get some push back there maybe you know he you have someone holding it up because of that. But it does seem. That having the conservation law foundation on board. Might end up being enough to get this done in get this through you also naturally have a whole bunch of Massachusetts electric utilities. Not really thrilled about this is welders and that's what's the utility's power plants but is there sadness Angie if we can bring all of this BO powered down from back. We'll what what happens to us then so. You know you see it again there looking out for their own interest I don't think that's a problem but you know you might have objections on that front they could hold this up steel. Well it helps if over goes out for a bit pilgrims and offline at some point. I think the chatters this year. But he meet in its clean power rates coming from Hydro. Might might question is. I mean I'm looking at New Hampshire. And I think New Hampshire looks stupid here. And what hurt us down. They turned it down and me date so if your New Hampshire resident. You'd just had the opportunity to pick up 250 million bucks which he said no to. And Massachusetts is now gonna stick it to New Hampshire anytime they want it brings them like if New Hampshire wants Ted transport natural gas as they do. Through Massachusetts get guess what Massachusetts is gonna do an electric payback is a pitch. A LAPD are absolutely and and and looked and I think that a lot of people can agree that what New Hampshire did with the northern past negotiations. Didn't really serve anyone's interests you know I was just like a stupid you know so much of a so much that was gonna be underground to begin with you had you know it it was just to it was a case where. You had people wanting perfect instead of good in that ended up blown the whole thing up what it was Olsen. That that's why I use that terminology stupid I distinctly look ridiculous. Yet yet at the small group I mean it was a very small minority. That was supposed to the electric coming through New Hampshire. But we did they ever make a lot of noise and they won but would they win maybe they won higher power bills. Four days if you're New Hampshire resident next time he looked at your electric bill I want you think to yourself jeez. Armstrong Toledo would have been lower had I not voted against the pass coming through. New Hampshire. It just silly in my opinion. Yep it was going to be you know coming right down through there was going to be it was gonna it in by the way the savings for New Hampshire actually. In terms of the the deal that New Hampshire was gonna get was better really one main was gonna get. New Hampshire was gonna get I think somewhere in the ballpark like sixty million dollars a year in annual lecture built savings. It was gonna generate thirty million dollars of tax revenue for the year. And also I think they were gonna commit like 10200 million economic development on top of that in New Hampshire said. Now we don't want that. They won't pass they've they blow. Folks if you haven't started in a state plan yet now is the time the state an asset protection planning is critically important to those of you who were nearing retirement age. Or are already retired because that was solid plan. 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We've learned the last night that list is going public next month we known that lifted new radical public sometime in two when he nineteen. But now we know that list is going to be listed on the NASDAQ. And that they're gonna go public it there for what I'm reading chalk it looks like lift legal and public at the end of march. Yeah I believe that the the road show prior to the listing was going to be the week of march 18 with the intent to list the week after that's the final week in March somewhere between the 25 and 29. Is when there are likely going to be listing here. It does look like they're going to be going in listing on the NASDAQ. It is going chew well. Apparently beat over to the punch on this. But it's a good time for the re listing just because near the instability from the fall seems to at least be temporarily gone so they should be able to price pretty decently. And now you have the government shut down and it's of the SEC's open for business which means lift can actually talk with the SEC on this. I think that bothered me about this track in Iowa talk about this is me. Are issuing what are called super voting shares. In this IPO. And I was all right I'm a big guy I use lift. Not regularly but when I go to the airport typically is when I use it. And I like the service. I was gonna buy shares at this super voting share issue bothers. It's a disaster for corporate governance. It's it it it's a mess and and look here's here's what they're doing effectively. Just in this is very similar to what FaceBook is done it's similar to what's now has done. Pretty much what they're doing is the shares that are going to be issued out to the public. Do not have the same voting rights. As the shares that the founders are going to have the founders one of these super voting shares that you know give them and again we don't know the exact details yet. But it might give them ten votes for every shares opposed to one vote of fifty votes forever shares opposed to one. And what that means is that it's. Unlike the conventional structure of a publicly traded company where you'll own the stock and you can actually again been for most people doesn't apply because there's such small shareholders anyways but you can effect change. It's more difficult even for a large institutional shareholders. To make changes to companies with this kind. Of structure and has little. Problems FaceBook chat with corporate governance and it basically clandestine operation. End he would nobody's nobody's watching the store. Yet to be fair Malia and I wouldn't point to FaceBook appoint more to snap is an example what can go raucous FaceBook from the corporate governance problems they've had. And the stock's been phenomenal facility it hasn't affected them static on the other hand. Is an example hey when things go bad it accompanied you can't meet changes to the border to the leadership. That's where you've got problems so yeah if things go well. Great like no no one really cares but things go badly like they they have been it's snapped. Then you've got real questions in real problems could you can't really do anything in personally. I don't like the fact that it's. You have this type of set up necessarily even allowed for in in corporate governance these days that think he creates all kinds of problems. If you want to have that level of control. Don't go public. Mean. In that list also announcing by the way that they're going to be launching east surge free sheer pride and those of you been caught by search pricing you know about talking about. You know the other day when IE it took the cart at the airport who's forty bucks. But two weeks earlier when I was coming back from the airport because they came back at 5 o'clock it was a 110 dollars that search pricing at work. This shared ride is basically where they'll say to you. You might be it a quarter of State Street and third street and they'll say you. We got to walk two blocks to jump in the car and then we'll take you pretty close to your final destination but there's no nugget beanie search pricing I would think that's a big selling point. Yet my dad three to four minutes of walking on each end of your trip. But it reduces any concern you have about that surge pricing now one question that I do have. You mean Tucker all of in the suburbs at this point. Right I wonder if it works in suburban areas at all or if this is going to be exclusively. Ian cities. It's just for urban areas thank me I can't imagine how work in the suburbs. I'm coming up. We're going to be joined by Adam Johnson from bull's eye brief grab a pencil on paper Adams also always got some interest in stocks to chat that's next thing to exchange. Does this and stuff talk to build and grow your portfolio. The financial exchange with Barry Armstrong and chuck signed off on the financial exchange radio network. Getting married is one of the great pleasures in life growing old together in making incredible memories is something that can never be taken away but as we grow older the death of your spouse is something that is painful as it is you need to play -- -- hi this is very Armstrong in my firm the Armstrong advisory group has a brand new guide out this month to help you prepare your finances in the case of a spouse's death we have identified several strategies that can serve as a guide including sharing the responsibility for monthly expenses updating specific beneficiary information and examining how to clean your Social Security benefits call right now 803934001. That's 803934001. -- get your free guide today you can also download your free guide right now by visiting Armstrong advisory dot com. Dirty suffered mysteries Merck incorporated member and as a PC and advisory service is offered procedures work advisors incorporated Barry Armstrong represented a strong advisory group the securities America companies or an affiliated representatives of securities America do not offer legal or tax advice always seek the voice of a professionally with the laws in your state. With all of the different types of trusts that are available for a state plans its soaring keep them all straight the most common -- -- a -- and a reputable trusts and if you wanna keep it simple in the case you haven't done your -- yet we need to call time let's keep senior partner with Cushing in Dolan Olympia state planning process overwhelming you because that's exactly what will happen if you're not careful called today and get tons free guide told the difference between rebel and reputable trusts it'll help you decide which one may be right for you while also educating you on how to avoid any confusion that comes of making such a difficult decision caller right now 8668485699. That's 8668485699. The guy can even show you how it's possible to eliminate your state Texas while the same time protecting your assets from creditors and long term care expenses led to rushing in -- help your family the way they've been helping others for over thirty years toll to 668485699. The number again is 8668485699. Or downloaded right now for free from their website legal exchange showed dot com. That's the Xperia a great family friendly mountain when something for everyone including. Pay one price program on Saturday night had a pats peak on Saturday nights for one low price from 3 PM to ten via reverse ski. Snowboarding do you think rentals lesson tips and entertainment that's because one of the largest nights in areas and all of northern New England fans when a New Hampshire most accessible to learn to ski and snowboard mountains bring your family and your friends whatever your age or ability level you'll love pats peak. The latest info go to pats peak dot com that's pats peak got jobs pats peak ski area and had occurred there. Hampshire pats peak seven and interest premier ski and snowboard mound is a 100% opened with day and night skiing and right. Make plans to spend your upcoming Faber school vacation on the slopes at Pat's cheek with skiing snowboarding and snow tubing for always information on conditions photos videos and events go to pats beat dot com. Hi this is Barry Armstrong and I've been doing business with leader bank for many years it's not too late to get a great rate on homework -- 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 slender 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 cold now and -- milieu 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 equal housing lender MLS number 449250. Subject to credit approval leader bank a step ahead. It's our daily poll question had financial exchange showed Doug John. Vote your conscience there hard just vote go to financial exchange oh does come in castaway. It. Then I and. Joining us now is Adam Johnson from new York and from bull's eye briefed dot com makes the head over there to check at the pitch that he post every weekend. Adam good to hear from me how Loria. Own doing great. Thanks for having me on as always appreciate it. And what was this market so home over the last couple weeks. Welcome to pull up that are out there than we thought. You know it. It and this is kind of been a scene for us talking about how pendulum swing back and forth but everyone that O negative in December and then we came back in January to realize. Well maybe it's not so bad and so you know he actually dirt lifting your head up and looking around it. Find it's not perfect but you know what it's pretty good and I think that's what. In terms of I guess the biggest concerns that have been out there the Fed was one of them in the Fed has gotten about as dovish as they could as quickly as they could so that's kind of not not a problem today. One of the things I'm still trying to make sense of it feels like every day depending on what source you read. There's a different update on the situation between the US and China even. You go back at it was either last week and the week before he had one member of the negotiating teams say yep things are moving along in another state did things are really movement. Where do we standard do we still just have too much fog of war to be able to tell what's going on. Well they always wanna watch what they do now what they say eat and what they're doing it right now it Washington. Is meeting at a very high level at this is very positive. Number of the different. You know morning television programs were showing clips of miniature in the anti vice president China sitting down and in. The delegation. Our significant you know we're talking 101250 people from each side all literate pocket. And now effectively have what they're calling him memorandum of understanding. Their bye component to it. The most important of which is. Getting rid of the requirement. For US firms do heavy joint venture partner in China because the GP. Basically get access to all the proprietary information that company that was really the concern the Chinese companies were siphoning off. All the intellectual property you have there working on that that's the big deal just this morning. This is less than a big deal but it is straight you know goes in the right direction they announced that the Chinese are buying another thirty billion dollars worth thirty billion. Agricultural products built. Anyway they are working through these five different. Aspects of the trade pact I think that there are. Given all of the positive sentiment out there that to the conventional wisdom is when people start to get positive view should get negative is that something that you feel as well. At least in this case. He in it and I've really been wrestling with this because I'm long. 49 games straight now. They're going gangbusters I'm up call at fourteen and a half percent year to date. I mean not a great year and have done it six weeks go to cast. What don't cast all day I got wrecked becomes very known fact that now mean that anybody I'm not gonna be able to do that every six weeks of the year. You know. Through the end of the year so I recognize that I had a great run a lot of mind games are starting to hit the target. You know and James Blake Motorola solutions. Well what they're doing pal outpost well what they're doing against what they hit the target but I bet before I bought the so I'm actually starting the belt on the these decisions now there's news that I'm by your recent just by Raytheon. It's doing greater recently bought by a comic Expedia to abide by com. If we gonna get the deal like right options against that long positions but you know there's not to do but you have to recognize. We've had a great run and when the names that the target you have to they'll at least have maybe more. Very good Adam we've got to run but thanks for joining us and we'll catch up with the soon. Adam Johnson from bull's eye briefed dot com make sure once again that you had over there in check out all he has to say. Selling that stock when it hits the price is always a tough thing to do isn't it because you say to yourself okay. It hit the hundred dollars and oyster that's my target price and a solid. But play if I Celadon and be a bunch attacks. And really electric company and who knows they might be able to continue to rally. It's tough. But the that the real discipline. In managing a portfolio isn't just buying at the right time but it's making sure that you don't ride the whole thing back down. In the case that you wanna keep holding on too long. All that's for sure they're the classic the classic quote from the man JPMorgan himself about the bank but the individual they asked him how he makes so much money he said I sold too soon. That's right. David Dow is down 94 points as we speak the S&P is down ten NASDAQ is off 47 crude oil's trading down 34 cents a barrel. At 56 DB to what kind of the year is 2019 gonna be for equity returns. We'll let you know one theory when we return. It's not too late to get a great grade and whole mortgage leader bank specializes in a wide variety of purchase and refinance loans that some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing calling 8776917. B 900 that's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. That's the Xperia a great family friendly mountain where it's something for everyone including Jay in night skiing snowboarding snow tubing aired a special pop. Pay one price program on Saturday night's had a pats peak on Saturday nights for one low price from 3 PM to ten via first ski. Snowboarding do things rentals less and get an entertainment. That's because one of the largest night skiing areas and all of northern New England stance when a New Hampshire most accessible to learn to ski and snowboard mountains bring your family and your friends whatever your age or ability level you'll love pats peak. The latest info go to pats peak dot com that's pats peak dot com pats peak ski area and had appeared New Hampshire. That's speaks seven interest premier ski and snowboard mound is a 100% opened with day and night skiing and right. Make plans to spend your upcoming Faber school vacation on the slopes at Pat's cheek with skiing snowboarding and snow tubing for always information on conditions photos videos and events go to pats beat dot com. Hi 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 means a faster closing we're bank is the number one purchase slender among banks in the state they have sixty loan officers throughout Massachusetts Connecticut and Florida who are 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. 8776917900. Is the number to call or visit them online at leader bank. Dot com member FDIC equal housing lender MLS number 449250. Are subject to credit approval leader bank a step ahead. The money matters radio network WB MW Lemmon William and W 275 CM FM good Boston the money matters radio network. This is chuck and Mike from the financial exchange and prepare today to talk about the new guy that we're giving away this month it's titled how to prepare for a spouse is passing Mike and fortunately this is a topic everyone needs to prepare for but. What people don't take the steps because it's a little bit intimidating so let's start from the beginning. Anything happens to both to be at the same time this would avoid probate process for children or anyone else that's listed on the account by the way folks not just your investment account not just your 401K go to the bank you can have pay on death beneficiaries on really basic accounts elsewhere too like I have a will or trust in addition to beneficiaries named on an account how does that work well the beneficiaries on the counter actually going to supersede. The wheels in the trust so. Let's say you change your will and say you know lots. Something happened and I need to cut my son or my nephew out of mind will I don't want them to inherit anything you must go update those beneficiaries on those accounts as well it will not just automatically change because you up teacher will lower your trust the beneficiary designation takes precedence. Folks we have a new guide out this month it's titled how to prepare for a spouse's death in all you have to do to get it is call 80393. 4001. Again that number is 80393. 4001. Or you can also get a Armstrong advisory dot com. Securities offered to securities America incorporated member of finreg SIPC an advisory services offered through securities America advisors incorporated Barry Armstrong represented their Armstrong advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. 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Hi this is chuck Zahn and I've been doing business with leader bank for many years if you're in the market for mortgage leader bank has some of the best rates around and if you call right now they'll make your process even easier by sending you a free copy of their residential mortgage survival guide in it you'll find critical information for pre approval closing it'll also help you with the required documentation the purchase and sale agreement as well as what to expect when dealing with agents I've owned a few homes and a whole lot about the home buying process but this guy and really helped me reconnect on issues that are so important to the overall process co leader bank today at 8776917900. And ask for their residential mortgage survival guide if you're looking for mortgage this will definitely help be the number again is 877. 6917900. Or visit them online at leader bank dot com member FDIC's equal housing lender ML customer for Portland to try to zero subject to credit approval leader bank a step ahead. Hi this is Rachel from Shawnee peak in beautiful Princeton man. Johnny peak profits forty imperfect trails or boasting gorgeous views of the president to mountains. And lakes region of the name. Come skiing entreaties we offered stiff and related areas to play and and freight train tracks that range from good enough streak to eight start teaching. Did you know that Sony deep pockets mean most nights being in New England. Nineteen about sales and at six nights a week and the cost of nineteen it's always included in your daily ticket. Johnny PR for his family friends and outs and action packed calendar of events. And fantastic ski and ride programs to get used and you crew on the snow and having fun ski pole day and into the night to make plans now it's Johnny. Calm. 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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. In a 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. And me. This is the financial exchange with Barry Armstrong and chuck sound. You're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus get breaking business news and every day. And now the financial exchange with the very Armstrong and chuck son. The beginning of the year all weeks for almost always. Is a pretty good predictor as to what you should expect for equity returns during that calendar year. And the gains in January and thus far in February had been positive. Which could lead one to believe they. Between nineteen is going to be a good year. But those of you who old stocks hi everybody it's very truck with you here it is a Thursday morning and came across this story. Chuck on CNBC yesterday as Atlanta talk about this because this. You know if we we were had a good January we might have a good February and if we do we can be looking at a banner year for equities. Isn't this more in the case just that it's usually a banner year for equities rather than anything about. How well January and February. Really tell us about how much they tell us about the rest of the year. Well what if these markets up generally what. 43 out of four years so I I pulled the numbers actually so I have. I have rolling returns going back and I'm looking at the S&P. And I'm going to look at this let's see this goes back to. Okay. Yeah this this goes back when the S&P started okay and so what I found in looking at the S&P 500. And this is not just from the start of the year this is it any point during the year so any day pretty much it's looking. And what it shows. Is that historically. Over one year time frames whether that time period starts in January February march August whenever it is yeah. The S&P 500 over one year time periods is up 72% of the time. OK so almost three out of four correct so if a positive January and February okay lead to it being up. You know 87% of the time I think there's two questions we need to be asking number one is it because it shows that games are gonna happen over the next ten months. Or is it just because you had two good months to begin with that's less time for stuff to go wrong you've already baked in some good returns. Note or is it just kind of random chance which it could be and so in order to do that we have to do is you have to run a statistical analysis on it. And that's something that given the fact that I don't have the exact returns greats never thing for all these numbers I can't do right now. It did it as soon. Would like to at what's the take away from this I mean if if we finish next week. And equity returns a positive does that mean we're gonna have a 20% gain year. No. Dark. No attempt trying to figure out are trying to boost everybody's morale. You know. Whether col two to burn west palm. You know to try to help people. If you want to boost morale I think the the big thing that you can look at. As far as boosting morale is that the things that we often worry about going wrong. Tend not to go wrong. We know it's it's usually the things that you know you'll end up killing you so all the concern about China and brings it like it again things that were greatly concerned about. Tend not really be a problem. It's the thing that comes out of nowhere that ends up killing usually year you know housing in 2008. Neo okay like yes a few people had that right. But not everyone did so it's always the things that you don't worry about that end up hurting you in this case. I look at all the major things that are out there when you're talking about Briggs it in China in this net in their all concerns about deflation are all concerns about the economy slowing. How how and oh I was I was and don't. What about the other side of the coin with inflation because what I what I continue to look at his we have appeared right now where the dollar is up 8% year over year. We have slowing growth in the rest of the world in inflation still running 2.2 percent in the US. So what happens if the dollar weakens world growth rebounds. Now that you see you're you're you're making the argument that we were sitting alone. Inflation about to happen. In my counters to that would be. There's little or no population. Like the inflation rate which is not a population phenomenon although I don't know I disagree with unity yet more babies are more demand for diapers for babies there's more demand for well there's more demand for food aid demand goes because you have more people we have and if we have. We have. A popular that we restore population growth. But I think our population growth and you can correct me Turk I think it's less than one half of 1%. In terms of budgets by by birth as opposed by immigration. We'll total day because we we he we bring in I think it's a bow out a million immigrants a year. And you couple that with the birth rate opinion a lot of people dying of Gaza the latest numbers I have a point 7%. Oca I was close but still my my point is yeah point 7%. Population growth safari gonna happen inflation growth rate of three year 4%. Well the counter to this is if you look at the 1970s. The US averaged about a 1% population growth rate in inflation was through the root. If yes and I don't I don't I don't think. I was due to the you know that period of inflation truck was due to price fixing member of President Nixon said hey you're not allowed to raise prices. And the response to that was exactly the opposite would be one that. Well no I think what happened first was you you it the price fixing was in response to going off the gold standard. And when do you lost the US went off the gold standard. We figured out OG based on if you let this market free float and it looks completely different from how it did previously. And so that was wide in Nixon and says OK now we need to start you are saying OK can't raise wages and so forth. But you go when you look at the major times that we've had inflation historically wood and really that the two periods if there's three periods in the twentieth century when we did. There was seventies there were kind of the late forties in the early fifties. And then there was ten in 1917. Through 1925. You know kind of heading up to the depression yet. Just coming out of World War I had some significant inflation as well just yet so much capital coming. Over from Europe is they borrowed all the money from the US. You know and in all of those periods it's not population growth that really was the key driver there it's you have this external shock that just. Ended up creating this need for all this extra money to be coming into the system. And that's and that's why you effectively had it you just had pretty much printing presses working nonstop. The time will tell I've I'm not miserable this inflation is more. He hears that another headline a recession indicator with the perfect track record over seventy years is close to being triggered ironically it's dude unemployment. Yeah pretty much what this this indicator is is that. Win unemployment rises half a percent. Above its low for the cycle. It suggests that in each of the previous eleven instances we've seen. Of a recession. Would that that number that shift upwards and unemployment at half a percent has not triggered but being a guide that a recession is coming. Now I think what's interesting here is. You have to differentiate in terms of why unemployment may or may not be rising and that's why to be fair I don't know find necessarily agree with that on this one. Historically if you look at why unemployment rises heading into recession it's his companies are cutting jobs in their their laying people off. Yeah that's not what we're seeing here we're seeing unemployment rising because more people were coming back into the workforce. Rice is a different situation so you know. I don't know if I necessarily buy that as a as an indicator of recession here. But it's. That's a. Pretty good indicator though they mean when you look at historically it's perfect. It is and look there's enough other stuff out there that makes you nervous I session may be coming in the next year to that. It might not be that this is indicating that the cause of it here but it might just end up being a casualty when it's all said and done. According to a hole that was done by Politico. 63%. Of 1993. Registered voters surveyed earlier this month. Believe that upper income people pay too little in taxes. Arafat the president campaigned on whoever he said he's gonna go after the hedge fund in the private equity guys yes. Did he go after them. I did they do anything carried interest I can't remember now now they didn't they didn't but aid to Hughes. It. One thing he did win it would be accomplished with the eliminate the deductibility of property taxes and somebody reminded me yesterday on the text line. Yeah he didn't raise income taxes on the richt but he sort of did because. All the people who are it at least from what I'm hearing checked in talking to count all the the people that are paying higher taxes in 120 team returns. They're primarily people who had a lot of itemized deductions you know lead to 50000 dollar property tax bill but liquid sake here. The the the people that were taking these huge itemized deductions they're Croat and tax terms of what market here. Yeah well what what I've generally seen if if in and have kind of been filtering through some of the data. The people that are making 203040. Million dollars a year are still making out better because the overall rate reduction is helping them. The people that are making 500 to 800000 you're still. Boatloads of money but not all for all true wealth the those people are the ones that don't necessarily have enough income in those lower brackets to make the difference there and offset some of the deductions they lost so. I think if you're looking at ultra wealthy are making out. Like bandits on this it's media it's generally really good there. But if you're someone who simply is really wealthy instead of all true wealth thing clearest successful surgeon. Right you're making 750 year yet you're you're you're an attorney for you know a major firm in New York City near making 800000 a year. You're making a ton of money by your standards that most people have. But you're actually being hurt there I don't know if there's any sympathy for surgeon making 750 year nor do I know there should be. But those the people that you see you getting hurt by this whereas the people making twenty million year. Hate that the tax 120 million dollars having come went from almost 40% down 37 C 63% on each of those million dollars that you make. Okay that's thirty grand a year and all those that can offset the loss of you know feud 30000 dollars in property taxes that you can't deduct anymore. Well that's our poll question pokes do you think that upper income people pay too little in taxes. Now I can participate in our poll by visiting our website financial exchange showed outcome though. I know that many beaches to text us or text number is 63566. Do you think upper income people pay too little in taxes. Coming up will be joined by Marshall Allen La repubblica talking about. Health insurance employer bonuses that's next on the financial exchange. Short little tour everything business and finance it's the financial exchange with Barry Armstrong in chunks of on the financial exchange radio network. Getting married is one of the great pleasures in life growing old together in making incredible memories is something that can never be taken away but as we grow older the death of your spouse is something that is painful as it is you need to play at -- hi this is very Armstrong in my firm the Armstrong advisory group has a brand new guide out this month to help you prepare your finances in the case of a spouse's death we have identified several strategies that can serve as a guide including sharing the responsibility for monthly expenses updating specific beneficiary information and examining how to clean your Social Security benefits call right now 803934001. That's 803934001. Thing get your free guide today you can also download your free guide right now by visiting Armstrong advisory dot com. Dirty suffered histories and are incorporated member in SIPC and advisory service is offered procedures where devices incorporated Barry Armstrong represented a strong advisory group the securities America companies are unaffiliated representatives of secure is America do not offer legal or tax advice always he did voice and professionally with the laws in your state. Two with a loss of a loved one is hard enough when it's your spouse and you're not prepared for the overall damage can be severe this is Mike Armstrong and our shark advisor group has written a brand new guide to help you with your investment strategy in your overall financial well being in the case of the spouse's death or several strategies that we suggest you consider including creating a spreadsheet of all assets pulling all wills and estate plans in compiling numerous documents such as life insurance policies mortgages and tax returns all of which will contain crucial information that can help you through this difficult time call right now at 803934001. That's 80393400. Wanna get your free guide today and I'm sure you'll be glad you did that number again is 803934001. Or download it right now and Armstrong advisory dot com. Securities offered to securities America incorporated members and SIPC and advisory services offer to securities America advisors incorporated Barry Armstrong represented at Armstrong advisory group the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your statement. It's 6 AM clear as a bell and winter quiet I'm watching Mike Pratt turn to steam. If I turn left out of the driveway there's a mountain of paperwork on my desk if I turn right there's a mountainous snow at loon. I am turning bright and. Work will still be there tomorrow January delivered over five feet of snow and lose a wide open. Three mode peach tree skiing award winning terrain parks and New Hampshire is only super fight to save on tickets at loon NTS dot com slash tickets. 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And I say no you probably think it has stepped it falls out of this guy but he and more we see it differently at Kramer's known as a form of art. They craft if you think that improvements we make it all went through London he never ever stuff looking for ways to make new conditions that are. He'll feel honored less than an hour remaining areas and you see it flying out of our energy efficient snow events. Snow is what leads to you that simply print more inexperienced clincher our way. Get at today's conditions and calendar praising it print more dot com. The financial exchange. Is all murdering women 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. Marshall Allen from pro Republican now joins us here talked about. Some of the underside of the nasty underbelly of their health insurance industry and specifically. How the brokerage industry in that in that field works Marshall thanks for joining us. Good morning. Here. Marshall so I ripped through this and continues give a summary of ten of the key issues that you indicated was there as far as you know how some of these brokers were being compensated by insurance companies. Well yeah the story is really about the behind the scene activity that goes on in the sale. Health insurance plan to employers. And behind the scene. Help insurers are giving. Massive bonuses and I'm pretty colorful Kirk to brokers to try and way which benefits they've they sell the different employer. And so what when we talk about some of the the perks and bonuses that are being given out commute can you talk about what some of those look like. Well yeah I mean you might have. They're that hopper bird trip to Bermuda for five days they have their top sellers. Another company offered in New York opt for the chance to go to bat again New York yankees' legendary pitcher Mariano Rivera. As the summit they have things are at a colorful trip and hurt but otherwise it's just cash in on some cases. Brokers in get bonus payments about 100000 dollars and a 150000. Dollars just for bringing in one large order group. And it's not it's not that you know it's always wrong provide incentives for people spell it I mean that's pretty common and in the industry sugar but the difference here is that. Insurance brokers claim to be representing the interest of the employers and if you talk to brokers and you ask them to their clients are. They'll tell you that they're working on the and lawyers help employers by the best value health plan. But meanwhile the traditional way they're getting paid is through these bonuses bonuses special trips. And just based commissions that are being paid to them by insurance company. One of the big terms that's been thrown around in the wealth management industry over the last five years to decade is that of someone having a fiduciary responsibility. To a client is there any such standard that insurance brokers are held to at the moment. Well not quite the same and in the real this year. A plan is Syria via Boyer there at the one. To order or on on the hook to make sure that they're managing and that. Well. There's no disclosure standard for the brokers sell. Debate commissions are typically around read 5%. Sometimes it is a flat fees and and that paid at her as a person as a percentage. In case report like read a five per cent percentage of the total premiums baton. In those cases it really the broker get paid more at the premiums go out there and act is there incentives are not alive and what what about for the employers. And that debate that they take away here is that employers need more questions of their brokers about how they're getting paid and I think to think through. What incentive is it creating for the broker if they're he would in this particular way. And some of the more progressive brokers. Are moving away from getting compensated from the insurance companies. And what they're doing it there's getting paid directly by the employers and and it stated that that really align that are incentive what incentive does the book of the employer. And that helped them come up with more creative benefit solutions that are actually baiting employers a lot of money. And and and I think that's a great point to make because the the issue here is not that insurance brokers are getting paid because look they they work just the same as everyone else and and you know they need to have a compensation structure. That reward them for the work they do. But it's how do you Taylor that so that it is. Is steering employers into the right cost plan it sounds like you start to see a little bit of that happening now. You are there some movement in the industry there is an evolution taking place. Where brokers are really starting to call each other out. In the industry and some of them are saying that we shouldn't be taking that money on the insurance companies anymore that it creates a conflict of interest. And what we need to be doing is getting paid by employers and that way we have every incentive to represents. Their interest well. Are the different brokers who are getting paid by employers. And instant is that they're coming up where it much more creative benefit plan. That would traditionally be offered by the big insurance companies and usually they say bypass the traditional insurance companies. And find other solutions for companies that are saving them tremendous amounts of money talked to one company in Wisconsin. This saves so much on their health care that they took every employee 120 employees. And an all expenses paid trip to Colorado where they went Whitewater thing Brody CDs wait what. He they pay so much money while including benefit by way. A lot of the word they've money that they at the benefit passport costs Don that the employees and that's that's typically how it worked over the last year. They've increase it past the rising cost on the employees and the big huge reason why employees are not getting. Wage increase because their compensation being eaten up by the rising health care costs. Marshall in in terms of you mentioned there and you know alternatives to the conventional health insurance companies that these employers are looking at what what might there was alternatives beat. Well a big that building self fund it in electric company over about a hundred people. And goes self funded and that just means that you don't have a traditional insurance. Planned. You have accompanied bearing the responsibility. Where health care costs for the employees. And that there are some risks that those he had at what so you have to make sure that the broker and take you doubt that knows what he or she is doing. But they take out special insurance just in case there and I can't claim. But it it allows companies have a much greater handle on where their money or you can get a detailed. Envoy Princeton. What pharmaceuticals. For what type of hospital care paying for Wear as what insurance industry. It's just the black box they basically day. Then that the premium and you don't really even know how much of what medical care and now let's just went to excessive profits for insurance company. Marshall thanks for the time we got to run but fascinating story and thanks for joining us is well thank you. Marshall Allen from Republican talking about the health insurance industry and some changes that may be for you how would is sold the company's. Libby fiduciary standard that you mentioned is the obviously coach is that. You know you say hey did it take commissions anymore from. There from Cigna you know build company. For your services now we will be a lot of guys that washout the industry does not capable of competing that type of environment but from a consumer perspective it's far better. Coming up where are we talking about Amtrak and Connecticut. If whole exchange is live on FaceBook so make sure to 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. If you haven't started in the state plan yet now's the time the state and message protection claiming his critically important to those of you were nearing retirement age or are already retired. Because without a solid plan many problems can arise take the time to avoid that kind of issue by calling talk about -- a partner with the law firm of Cushing in Dolan Thomas an expert in taxation and elder law and he can help you identify the right kind of planned for your family there are numerous kinds of drugs that are available but two of the most common are rev a global and irrevocable trusts there are major differences between material so before you put pen to paper get some solid advice from someone who know respect and advise you -- the best way to put together your plan fishing in Dolan is a free guide out this month on the differences between -- a doable lender amicable trusts and you can get it by calling 8668485699. This guy can even show you how it's possible to eliminate your state Texas while protecting your assets from creditors and long term care expenses call right now to give this free guide an 8668485699. 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Hi this is Chuck Todd and I've been doing business with leader bank for many years if you're in the market for mortgage leader bank has some of the best rates around and if you call right now they'll make your process even easier by sending you a free copy of their residential mortgage survival guide in it you'll find critical information for pre approval closing it'll also help you with the required documentation the purchase and sale agreement as well as what to expect when dealing with agents I've owned a few homes and a whole lot about the home buying process but this guy and really helped me reconnect on issues that are so important to the overall process co leader bank today at 8776917900. And ask for their residential mortgage survival guide if you're looking for mortgage this will definitely help be the number again is 877. 6917900. Or visit them online at leader bank dot com member FDIC's equal housing lender MLS number four corner and to try zero subject credit approval leader bank. A step ahead at 6 AM you don't beat your former. Doesn't matter mom but he knows the drill anyway as we do this every chance we get. Like a kid at Christmas he's going to be the window skis at the door hot cup of coffee in hand that you dream just in time for first tracks of Linux. Jane we delivered over five feet of snow and lute is wide open wheel. The three mountain peaks trees game award winning terrain parks and New Hampshire police who provide a save on tickets at moon MTN dot com slash tickets. I folks this is Mike Armstrong and I'm joined by estate planning attorney Todd lets you with your financial exchange quick tip of the day. Today we're talking about the differences between revote Kabul and your revote will trusts have taught you what is the biggest difference between a revote Kabul verses and durable Coble trust. You know this is probably the most frequently asked question that that I'd get here richer people just wanna know that and there are really a lot of differences but what I'm gonna do is to tell you what we're talking about the differences between a Medicaid irrevocable trust as folks there's so many kinds of irrevocable trusts out there I want to be clear that this is those income only Medicaid. Irrevocable trusts that are designed to protect assets from the owners now vs. A real vocal bull family type trust. The biggest difference between the two is that the revoke double trust will never protect assets from the nursing a five years ten years doesn't matter how long your assets current. But with an irrevocable trust. After the assets have been put in there for five years. Then they will be protected from the cost of long term care that's really the difference well it's fair to pay an attorney to draft trust to revoke and I just go and have them change it to and you're vocal tracks so many people love to do that you could but no. You actually have to start over the language of the trust itself is key. In making it protected from the nursing homes so you can't just make the word re probable irrevocable and the odds are not so easy but that's the big difference lies control wise I think you're still. About the same. Excellent while the estate planning expert to Christian and don't have written a brand new guys that answer the most common questions you have about the differences between revote Kabul and irrevocable trusts you can request is brand new guide by calling 8668485699. However folks if you wanna download the guide today just as it legal exchange showed dot com. Once again if you want to guide paper though give us a call 866848569. You might not be able to keep up with all the latest business and finance news but we can fix the financial exchange with Barry Armstrong and chunks not a on the financial exchange radio network. It is time for trivia and this week here 192430. US president. Calvin Coolidge became the first president. To deliver he radio address from the White House we will be asking trivia question about how the cool. 25 years before he became president. At the United States Howell and Coolidge was elected to the city council of what Massachusetts. City. Our text number is 63566. And chuck I can tell. Matt our. Trivia expert is just chuckling to himself in the back rooms ain't nobody gonna get this one that's a tough question 63 fives is also owns yeah I mean. Talk about the ups and unite them and we'll see if anybody gets to 45 years before it became president Calvin Coolidge was elected to the City Council. Of what Massachusetts. City. And the winner by the way you get fifty. Ask you wanna history teacher you got his return in it by the wake its future and presidential tree thank you very much by the way do you know tomorrow is. It's action movie Friday. The music Friday as the pairs of war. Pathetic production by this whole big mystery to bury until you know the last couple weeks now all of a sudden it's. Kimberly and only successful. They have to work on Fridays. And put an end to this if tomorrow I'll be active right now it's art I got I got this state I'll I'll I'll preview the movie actually just sore listeners can do little research tonight. Come to Morgan do Hunt for Red October. Who who that action is good news is that technically an action movie is that more of a into orbit thriller Olympic but I'm I'm gonna counted just as a lot there's there's a submarine that blows up in itself alone. Are. Let's talk about Amtrak. If it's kind of interesting when you look under the covers. And indeed get a real look under the hood. This company you know we have the Acela express in the end Lotta people riding Amtrak going back and fourth rate Boston to New York City yup and they make money on. Yet that's actually the northeast corder. Is very profitable for interest. It is they've made in 2018524. Million dollars in earnings. From their northeast corridor operations it was actually profitable. The issue is that they have all these routes primarily in the western and southern parts of the country. That are not so much commuter in business based routes or rather these long haul routes that they were pretty slow they've got a lot of sleeper cars and things like that the typically used. For vacations and things like that you know if you think about some of the the trains the empire builder the southwest chief those types of trains where you know it's a seven or eight day trip and he stopped in a bunch different cities and then OK you're done. And the problem is when those trains are on the tracks they obviously block other traffic from going by. And you know there's couple options one you can invest in a whole bunch traditional infrastructure add more tracks and more. You know while you know little offer at whatever the called a little ramps that he could bullet trains on the decides whether trains to pass you know that there's different things you can do. But what Amtrak is saying is look a lot of these trains for the long haul routes that we do. Are getting older need replacing. And so and they're losing money on him as it is that they're losing money anyways. And so they're saying look rather than replacing a money losing enterprise. Maybe we should just get rid of these and move towards more regular scheduled neo business trains and in just between you two cities and things like that no giving example. One of these trains. The capital limited. It goes through Cleveland once a day season okay great if I'm in Cleveland like depict this train up. In still go to any of the other rat here cities on the around Washington DC in Chicago the problem is that the capital limited passes through Cleveland. At 145. Or 2:53 AM. And no reason jump on lower leg it's it's just it's not built for people to use largest transport between two cities built for tourists. The problem is there's a lot of whole screen lovers at the date the unity. Is not enough currently. Well not enough obviously in day the and I think you're gonna see Amtrak due to consumer demand. Growth reported transition during the next two years I mean it does make sense in densely populated areas. Yeah an aunt and look I'd love to have a always wanted to do one of these long train routes and there's a great went through candid there's united talent did you. I I'd love to go 11 at some point because it sounds the real Laker great wages to see a bunch of things and travel in a way more relaxing you know manner than. Either by car by plane but. At some point the economic concerns are hey if there's no demand for why are we supplying us. That's exactly that's exactly. A year a lot of those routes date back to prior to the automobile. And that's all we know that that that's why they gained popularity does it was a way for people see the country because he couldn't do it in a horse and buggy right you do it on the train. Well one of the so much my wife's family as a place up in on New Hampshire in the lakes region. And the main way the people used to get up there was through the train actually the backers and they actually had all these hotels that used to be up there around the lakes that once the train stop being the dominant with people get up and people could take cars whenever they wanted right. All those hotels closed up just because there's speech yesterday if it's you know it's it's fascinating when you look at you know how big that shift was from trains automobiles and what it did. To even just regional tourism and stuff like that. Speaking of infrastructure. He had a new governor in the state of Connecticut. And it sounds. As if the governor is going to allow for the collection of holes both from Connecticut residents and non residents. They're going to the governor. Presented a potential system of 53. Whole collecting Gant trees across interstate 849195. The merit and Wilbur cross our ways. For which construction would be key in in twenty the 22 at the earliest it's gonna cost about 200 million. But truck they're gonna bring in east editor billion bucks a year with pistols. Yet it it's gonna bring in a boatload of money they're also saying that it would include a 30% discount for Connecticut residents. And so Connecticut residents would not have to pay. As much. And that the big thing is Connecticut has it depends on who you talk to they either have a revenue problem or spending problem. But one way or another there is a big gap between the revenue that the bringing in and the spending that they've committed to. A former resident of Connecticut it I'm saying to myself I don't like it. But at least we're gonna collect revenue from people who would Rhode Island New Hampshire mean new Vermont they're driving through our state. Right baby is I do it all the time drive in New York rate hike presser kinetic. And I don't pay a nickel and tolls and I don't buy any gasoline there. What I'm curious is what the overall cost is going to be to go through the state. The other they haven't specified that at this point I don't know I haven't seen anything there. So that the one places makes me curious. Is depending on how much they charge. You know peep or people of this. I don't even wanna say irrational people have a dislike of tolls is that is that safe to say sure I don't like them. It might not be a lot of money if you go through once the people still like pain so I get paid dollar fifty early and apparently unit to dot. People don't like paying them. So what I'm a little curious about to be honest is if they do this. Does it cut some of the out of state traffic that comes into the casinos that also bring in a bunch of revenue. Then. And they get a point oh it's not the latest somebody say. Jeb not gonna drive all the way down to foxwoods even though I don't think the MGM and Springfield is as nice as foxwoods but it's gonna go to Indian springs. Right in and look the Mass Pike has tolls as well so it's not like you and you don't there's no get out of jail free card for this at this point if this nobody if you're. If you live closer to the Springfield casino yes and it's gonna cost you an extra ten bucks and polls that sort of movies and son. You theory you're gonna think twice so I just I wonder about some of the peripheral impacts like that on. You know even things like sales taxes and so forth you know to some would say OK it's if I'm heading from. Massachusetts to New York to like go all the way out and kind of around in order to avoid paying the tolls I'm not saying that's the economical way to do it my dad just is much cost of gas. But people do irrational things to avoid tolls. All they do increasingly I've seen people do the coming back weren't giving the answer to our trivia question of the type who won. And then we're also gonna talk to you vote in new investment. That you may start to see people bringing to the tables called opportunity. Zone investing. And let's say it's a bad thing that I think is something you might want to look at with a little bit caution we'll talk about that and more when we return to the financial tree. And include. Barry showed in the financial exchange on FaceBook FaceBook dot com slash the financial exchange this is the financial exchange radio network with all of the different types of trusts that are available for a state plans its soaring keep them all straight the most common -- -- -- and irreparable trusts and if you wanna keep it simple in the case you haven't done your planning yet you need to call time let's -- senior partner with Cushing and Dolan Olympia state planning process overwhelming you because that's exactly what will happen if you're not careful called today and get tons free guide told the difference between rebel and irrevocable trusts it'll help you decide which one may be right for you while also educating you on how to avoid any confusion that comes of making such a difficult decision all right now 8668485699. That's 8668485699. The guy can even show you how it's possible to eliminate your state taxes while the same time protecting your assets from creditors and long term care expenses -- -- in -- help your family the way they've been helping others for over thirty years co lead 668485699. The number again is 8668485699. Or downloaded right now for free from their website legal exchange showed dot com. Your dream home is within reach with a Jumbo mortgage a loan from leader bank they're Jumbo loan program designed for financing in excess of 500000 dollars offers extra variable rates for both purchases and refinance us all originations are managed by a leader bank's local underwriting and processing teams traditional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 449250. Subject current approval leader bank a step ahead. Getting married is one of the great pleasures in life growing old together in making incredible memories is something that can never be taken away but as we grow older the death of your spouse is something that is painful as it is you need to play at four hi this is very Armstrong in my firm the Armstrong advisory group has a brand new guide out this month to help you prepare your finances in the case of a spouse's death we have identified several strategies that can serve as a guide including sharing the responsibility for monthly expenses updating specific beneficiary information and examining how to clean your Social Security benefits call right now 803934001. That's 803934001. Thing get your free guide today you can also download your free guide right now by visiting Armstrong advisory dot com. Securities offered to students Merck incorporated member in SIPC and advisory service is offered procedures America advisors incorporated Barry Armstrong represented a strong advisory group the securities America companies are on affiliated representatives of security America do not offer legal or tax advice always he did voice and professionally with the laws in your state. If you are real estate property management company you need to banking partner that has all the right tools to keep your operation efficient leader bank is one of these premier banks in the property management and real estate space offering a suite of unique products and cash management services helping collect rent managed Condo association payments and digitize paper checks hi this is chuck is not a we'd bank utilizing state of the art technology to offer convenient banking services to which real estate clients such as a CH payments mobile banking promote check scanners and its innovative -- rent payment platform leader bank has a team of business bankers that are on call to help you welcome your place of business to make it as easy as possible number to call your interest did is 8776917900. That's 8776917900. Find out why many of greater Boston's premier property management and real estate companies choose leader bank is they're banking partner call 8776917900. Or email BBO leader bank dot com for more information member FDIC equal housing one. This is a special announcement for a landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of Iran today we see round leader banks all mine rent collection tool he ran automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more we see rent your payments for each unit received regularly on the same day every month tenants pay nothing in the first six months or free for all landlords visit WWW dug see rent dot -- to learn more or call 7816418691. Security suffered through securities America Inca members finreg SIPC an advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. We wanna hear from you. Thanks Steward diaries 263566. And let us know what you think about the stories we discuss your team to the financial exchange radio network. We ask you where. Calvin cool it served as a member of the City Council correct answer was North Hampton Massachusetts. After graduating from Amherst College. Coolidge moved to North Hampton in order to study law by working with a small law firm in just a few years he was elected to the City Council there. Placing second in any ward where the top three candidates were elected to this City Council. The winner on that question is Jamie from furlong New Jersey and Jamie is taking on that fifty dollar gas card my country today is brought to you by the Armstrong advisory group call 80393. 4001. Senator free no obligation consultation today. Not many people know about opportunity. Zone investing news part of the tax package. That went into effect I guess it was passed through congress in December of seventeen went into effect January 18. And now you've got a lot of hedge funds garnering money for this opportunity zone investing. I wanna talk to people want to talk to our audience about opportunity zone invested because I suspect shocked. This is going to be something where brokers and investment advisor start bringing these ideas to their customers. Yeah and in pretty much what this is is opportunity zones are areas that are designated. As you either low income or near dilapidated areas. Debt can get preferential tax treatment. If you invest in them and effectively tax breaks for said investments. And so pretty much what does it gives you a massive tax break on long term investments in these opportunity zones. But yeah. Basically its capital gains tax free as long stay in there for ten years right correct. And so there are 8700. Opportunity zones across fifties to we have pretty much the whole country. And an example where one might be truck is like I'm thinking. I'm guessing like Lawrence Massachusetts might be on the list. I'll give you an example parts of vault Long Island City where Amazon was going to be moved here OK that's designated as an opportunity so. You know so it's it's not just the areas that you would think of you know obviously think of places like Detroit and there's certainly areas of Detroit is dated designated in this fashion. But yet you can have you know areas in you know rundown cities are rundown parts of cities. That our new designated as these opportunities ups. In the goal really is to get money flowing towards these now. The concern is that the 'cause the the parameters for the project is for these opportunity zones are so broad. That money might float a project that already would have been built the knives giving tax breaks. For something that was really needed. You know which is something it's legitimately use the Long Island City won as an example Brazil Amazon is moving up it was going to be moving a whole bunch of people there. Is it really did do you really need an opportunity zone to exist in Long Island City. Notice I get a pizza I just think it's going to be something worry in the C. This package up for individual investors you know where he couldn't buy you know. 50000 per 100000 dollar for business opportunities. Fund. Oh of course you'll be able to won't be the good stuff. You know the the good thing they never package and sell off the good stuff online only news and I'm trying to warn people. Yeah I hate it that's from gold with this is at the kits it sounds great on paper. You know I've I've I've. I've been to this rodeo before you know it and the other thing that I tend to worry about your member of the the big EB five visa scandal Jay peak in a couple of years ago where. You know was all this money flowing and it was supposed to be for low income housing and stuff like that it turned out their building like these high and condos and stuff. I worry about something similar happening with this as well where it's OK we've got this operative to it I predict up. I can't see that we're opera opportunity zone opportunities. Own investing. And you know over Long Island City and boom you've got penthouse apartments selling for you know. Eight million dollars you know it's it's like. Is that what it's for. Hereafter folks will revert to it is OZ in fast and well liked helped make it a little easier for truck. I wanna talk to you a little bit of doubt. Owning real estate so you'll rental property might have a three family might have an apartment down or to rent out. If your landlord or property manager red collection can be very challenging especially if you old multiple properties. 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I don't know if you saw the story about China and they apparently are making role ones that are really good. Equipment unlike a lot of other Chinese manufactured products and they're selling them to our allies. They are they're selling them bit that they're trying to this is part of any put. Yeah I mean that this is effectively part of the the Chinese built and road initiative where in addition to trying to supply money for infrastructure projects there are also saying hey we'll help you out with your military equipment as well. And obviously the US has concerns. That pay if you have too many countries buying Chinese equipment instead of ours. OK you know what what's that mean as far as overall stability in alignment in that region. Are big. Export to just they forget about the the death than and then you know who they're gonna use them on. Is that that's where we make our money and those are high margin products for companies like Raytheon. They are I think that's secondary when it comes to overall stability in the region now. You know I get it just because look you got all the exports that you want but eventually if you know countries become aligned with a different major power. It doesn't really matter anyways. You know negated just to destabilize the area so. Did this is something that. You know China's been pretty aggressive over the last couple years I've looked at some of the deals that they've been negotiating on some of the stuff and they're really aggressive with. You know pricing and in a lot of onus on price. Well. They hit you wanna know why. So that they they kill the US on price on these types of things if you take a look at some of the terms for some of the infrastructure projects they're negotiating. It's pretty much impossible for countries to pay them back and so that. That conventional wisdom then is that okay if countries can't pay China back for some of these infrastructure projects China effectively takes control nationalized on. And then they're owned by China going forward. So it's okay yeah we'll give you cheap weaponry but we're Gannett neo kind of make it impossible for you to pay back any of the infrastructure that you're doing. And we control the weapon or an Internet hit it exactly so now what we really control weaponry and we've got major infrastructure projects that. Are under our control. The error the air complicated there are rumors by the way folks that the United States and China are supposedly. Outlining the deal with China trade deal. We may hear it did this could be something we're about as early as Monday could be the deal is being done because it's if they got to get it done by march 1 the big. The Dow is down coax it down Ev3 points as they speak. The S&P 500 is down eight points the NASDAQ soft when he seven points in crude oil. Is down thirteen cents a barrel at 5703. Financial exchange will return tomorrow. With another edition. Harry Chaka Tucker signing off for today.