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Full Show 3-13-19

Mar 13, 2019|

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This is the financial exchange with the very Armstrong and sharks are now. Tour exclusive look at business and financial news affecting your day you're sick leave your world. Stay informed and up to date about economic and market trends plus get breaking business news every day. And now the financial exchange with Barry Armstrong and sharks done us. We all want the best for our children but what we're learning about this colleague's cheating scandal. He's gonna put people in jail and impairs the children of those people for the rest of their lives across gonna talk about the White House proposal. That would put colleges on the hook for student loans hi everybody it's buried truck with you here. It is they Wednesday morning in this scandal broke yesterday chucked it whole cow. This news a scandal that there's a story it's gonna keep on giving for a long long time. Yeah I mean that this is one that in particular I I was kind of giddy when I saw this to be completely honest because it combines some of my least favorite groups. In in America when it's all said and done you've got near the NCAA is involved here. You've got you know rich billionaires involved here it's it's pretty much if you put a list together of the most dis like pebble people in the country. A lot of them are caught up in this calling it a lot of Hollywood like rich actors and actors like. A lot of them were caught up in his hedge fund titans league all year it's all here in one place. Well let's first before we get into who's involved let's talk about exactly what was occurring. And for how long it was occurring in this is just despite end up being just the tip of the iceberg. You may find it this has been going on her pattern of thirty years but what we do you know is that. Followed by the name of singer. Was seeing court Williams anchor. Use the founder of a college repertory business and these are not uncommon Ira I remember when my kids were in high school. Many of them took SAT prep classes in the test I did myself. You do it woke up. You know that drove the U guys are closer to this at 9 am. If you whit whit. What we're learning on the surfaces. That's not uncommon for kids to have college coaches in college tutors and and and and people that helped you or child. Get in to a better school than they might otherwise. Yeah it's it it's pretty common in in in lucky when I say pretty common I don't mean what this this company was doing was common in this company was doing. Is breaking you know laws in multiple different weight there are so many different ways they broke the law that it's it's gonna kinda be kind of hard to actually keep up with them. But they're portrait Somalia let's that let's walk through some of the things that they're doing because it's it's very. Interesting I mean it's not that clever but it's definitely devious. Yup first and foremost in in really what kind of led people to this is. The guy created a fraudulent charity to begin with that the money was gonna be funneled into. And the reason for that is so that not only. Could these be of people get their kids in colleges but they could also get a tax deduction for doing so and the charity was set up. To supposedly help dis advantage to use when in fact the money was not being used for anywhere near those purposes that's that's piece number one as you read this charity that was set up that took in millions of dollars and then there's the second part where which starts to get you know illegal. Is it then was a case where. It was kicking this money out. Two. Typically it looks like members of athletic department either coaches are athletic directors are associate AD's. In order for them to go in effectively falsify scholarship applications that in some cases would be using federal funds which is why this is illegal. In order to get these kids in to school and on scholarships for sports that they may or may not have played. Some some of the you're listening it scholarship track used the what I learned in doing research on this yesterday is set. You know that the college coach at Georgetown for utterly field hockey year or subs were rolling I guess is a big one. Them was allowed to designate. Up to three kids a year that he wanted to have come into that school for athletic purposes regardless of what their grades received might have been. In her torch has pretty tough school so you know he may have a cute with 11100 SATs. And you know a C average but they're here and Georgetown. Because allegedly they were rolling athlete when in fact they were not. Yeah and it in and looked to be completely on this is something that happened with me when I applied and went to Dartmouth so like I saw this firsthand so I know how the system works. Is it in Dartmouth does not give athletic scholarships they don't so what they do that they'd be put a check mark next year application because the coach says hey I want this kid yep pretty much what happened is Ian. I think it was either July or August heading into my senior high school I was you know a go around all these different camps for soccer. And at the Dartmouth when they they pulled me out after and say you're someone that we might be interest in following up with the you know deed are you interested in you know coming here and I knew we had a conversation it kind of went from there. About a month and a half later no reason that all your grades and everything. And after that you know pretty much had a conversation with the coach and the coach said they were never put you on our list to recommend you for admission into you know the school and that's how work now. Doubt did you have to apply early decision for that check I did so it's binding decision so I have to apply early but in and they don't even put you want it's not a 100% guarantee it's what's call will likely list typically. And so they put you on that list and then fortunately I was able to get in early when it was all said none of the difference is that. I was actually you know playing these sports at a high level and I was academically qualified it was outstanding by departments qualifications because you get the biggest surge in the world go in there. But on a fairly decent nerd and so I at least kind of fit into the profile. Of kids who would nip typically so how does that anyway. So okay so you've explained how the system works routinely whether it's tough it's Williams Dartmouth. How was that different from what occurred in this it. It's so I'll give you an example in this is Dodd to a direct quote discuss this is my favorite example that I found here so far. And this is item 120 on their list the Henry gets his daughter's application submitted to Georgetown on or about October 25 2015. In addition to the falsified SA the application also falsely indicated that she played club tennis through high school twenty hours per week 52 weeks a year. And listed her as having a top fifty ranking in the US tennis association girls junior tennis for her sophomore through senior years of high school. And is being on the US TA all academic team during her junior and senior years the footnote then says. At best she appears to have ranked 207 the northern California for the under twelve girls division with a record of two and eight. So they pretty much made up this entire girls tennis career. Which like its been like how great is that that they made this entire girl's tennis career up. And in somehow here's what's amazing about this is Georgetown you mentioned the tennis coach might have two or three people that they can recommend right. They wasted a spot on this girl yet but it didn't coach get paid a lot of money. William but think about the coach is trying to coach his or her team team is offered in and you're wasting one of your spots on this person. So this is why when we talk about you know kind of might my next favorite whipping boy the NCAA. You gotta burn the whole thing down college athletics yup you've got to burn the whole thing to the ground and I say this is someone. Who loves college athletics I played it myself my dad ran track at duke. I can tribute to be you know funds to support college athletics. Or in the whole thing to the ground. Yes so the you have the athletic departments involved. But didn't you also have. You know fake doctoring going on and actually. Doctors that were taking the test from the students and then changing the or changing the answers yes. It's like it's it really is amazing just how many levels of fraud were going on here. Because this was another part of it which was you know a school would say area a coach would say look I can get your kid in but they've got to get. A 14100 on their SAT years at 33 on their ACT. And don't full well that the team can do that so what this this. Quote test prep group was doing is they were than having people pretty much steal the exams either after or before they were completed. Fill out the correct answers in order to me of get the right test again. So let's explain how this could occur because. You know don't take the exams in a large classroom and it's very public very deep somehow they were able to get these students. In to a private room. Where all they were the only student tick in the SE. He would at a time yet that they paid off the tractors effectively. And so late it's it's it's really kind of amazing and like the people that ended up being caught up in this. You've got multiple actors and actresses. You've got the former CEO of Pimco. That ended up being caught up in this like well how about the TPG. I think. You've you have the founder of TPG growth which is like a huge private equity firm as investments in air being ambient Hoover that's doing this in all the while here's my favorite quote from the FBI yesterday as they were announcing this. Someone asked them. Look why why would someone do this instead of just donating to the school in the FBI guy pretty much said. There's no reason like if you donate to the school does the same thing and it's fully legal pretty. Yes it's it's much more expensive the code is it's like instead of like you might have cost the TPG guy a million bucks to get his kid in two USC. If you didn't legally it was going to be ten and all that means that those people were either cheaper didn't care about the kids very much. It just death if they really care they would have made the big donation. The there's they're gonna beat people that go to jail struck. Well I mean you have multiple levels of fraud whether you're talking about you've got wire fraud mail fraud. You know fraudulent use of federal folic there's there's all kinds of different stuff in here I mean it's. And the sky singer is rolling over singers likes and yes lose at least. I mean he's he's talent he's gonna spill the beans so if you had a finger in this tie. You're gonna be identified and here the thing that is bothering me. Is there's a lot of speculation that the kids did not know in other words say unity gifts of the year year and these kids are going to be. Marked for life right they immediately it's a year kid that got into Yale or Georgetown. And he didn't deserve it for the rest of your life you're going to be known is that dumb kid that got into Yale because you'd better rich crooked bad. It in do you not know. That's around understand like you know you're not good at soccer or whatever news. What you might not that was so in some of these cases are giving example again I'm not trying to make excuses for these kids. But you know their parents might just control the whole test thing to the point where kids are even filling out their applications you know what's on yeah. They don't know that they do the way that testing was working Tucker is the key it would finish that test. The proctor would take the test and say oh my gosh disputed though. And and they they would change 25 of the answers I mean making you improve the score I just wouldn't you know if you were test taker that you probably our daughter good test taker I I wasn't to be tested our new item wouldn't get you sixteen. I don't know multiple choice questions paid maybe you just. Accidental lottery got unlucky yeah at and and a personal level one of the night my favorite things about this is that one of the sports that was involved in multiple cases. Was fencing. And the reason why I find this interest in just personally my cousin was actually if Spencer at Notre Dame and won a national championship there. This now gives me plenty of ammunition to see. Who the heck were you competing against mr. national champion. I don't think you're going against the cream of the crop actually. Well we we're actually gonna have an interview with one of the reporters that broke the story Melissa chorus gonna join us later in the show so we'll have a lot more details were you on this cash. On this story. Up next though we're going to be talking about how the White House. He's looking to put colleges on the hook for student loans I love this story it's even better in the first one that's our next one on the financial exchange. Mean this stare at the charts graphs and numbers all day just listen to us it's the financial exchange with Barry Armstrong in chunks of up on the financial exchange radio network. Proper state claiming can be the difference between retiring comfortably or living out your days under incredible financial pressure creating an estate claim is not a difficult process but it can be if you are working with an expert who can make sure that your plan to secure Todd let's do the host of the league to exchange radio show has a new guide out this month called the top estate claiming mistakes and if you don't read it before you build your plan you're putting your assets at risk not to mention severe tax consequences even if you already have a plan there's information in this guy that will help you correct an issue that could come back to bite you in the years to come. As an example. Are you using a realty trust or Willis the only means of a state plan that is not advisable at all do you live in Massachusetts and are planning on moving to an estate tax free state. 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And asked for your free retirement guide today guide includes your very own retirement checklist seek to make sure you're hitting all the right boxes that number again is 803934001. You can download it right now and Armstrong advisory dot com. Securities are for two securities America incorporated member finreg SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are. Unaffiliated hi everybody it's very are struck 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 world strict. But I don't think people really understand. How they can be used in why they're so valuable to the small business community. Eight spare 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 SB under the what that means is that. We can quickly make decisions and under rates small business loans in house. Andy 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 need capital to sort build out. The rest Ron. 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 world tremendously them as just wanted one of many examples in what they're landscaper or. Professional services you have 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 and 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. Securities offered to securities America ain't member Sandra SIPC and advisory services offered through securities America advisors think Gary 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. Started to extra keyword Barry and become a member of our brand new textbooks tell us what you think 24 sevenths right here on the financial exchange radio network. I. The White House is weighing in measure. That would require colleges and universities to take a financial stake in their student's ability to repay government loans and effort. That could squeeze loan availability to students and reduce defaults. One of the rare occasions chuck where Elizabeth Warren and Donald Trump seem to be on the same page. Yeah you you don't see this very often but in fact. It is a case where in that you know back in 2017. Elizabeth Warren cosponsored a bill. It is also pretty much been endorsed by Lamar Alexander from Tennessee. Talking about effectively this idea of risk sharing when it comes. Two. Any type of student loans and the weight effectively would work. Is that right now if you look at the way. That student loans are set up the individuals who have their names on the alone are responsible for paying that debt off. But ultimately if they're not able to taxpayers end up footing the bill when it's all said and done. So the thought here is to say okay. Rather than taxpayers being on the hook for all of that why don't we have colleges have a little bit of skin in the game as well. And if students can't make the payments on those loans. Then colleges are gonna be on the hook for a portion or all of it kind of depending on how far you want this risk sharing to go. I've always liked this idea have been a proponent of it for twenty years. What would it did downsides do what the academics. Saying isn't as to why it's not going to be effective. So that the potential downside is in in this is what near some colleges are arguing is that it would horror schools that take on. Large numbers of low income students just because. If you're taking on me a larger numbers Dave's got a larger pool that may potentially default on loans. And beat those lower income students might be you know less likely. To pay back those loans over times that's that's kind of a counterpoint to it. We have learned that's actually dictates put a lot of time struck these lower income students. Have been defrauded into taking classes on basket weaving and you know studies that really don't get them any further ahead in life and you know effectively Beagle mix sign for. You know 71020000. Dollar for the loans. They know they got defrauded so they just so I'm not pan pac. Well and in and I think you know 11 thing that I kinda look towards in in something like this is a case where. You know you say okay we'll looks of if we're taking on moral low income students meeting that we have been of more loans that were effectively being made in order. To fund our operations. Then to me that says will look should that put more pressure on the college to try to be more cost competitive so those loans can be paid off not necessarily saying they don't offer admissions. But it just puts more cost pressure on colleges to be more competitive when it comes to pricing that's that's how I tend to look at. Either way I think this continues the path which would be you're gonna have fewer colleges and fewer kids going to turn him. You're gonna have you start underwriting the loans rate has right now it's a guaranteed issue alone you want money. As a matter you're dead may never paid a bill in his life you you may have zero credit you could be studying. I don't know some obscure. Line of of major and your go to college. Yet I think you're definitely. At least seeing you you're going to have fewer colleges no matter what I'm I'm unsure of you know as a percentage of recede decrease in the number of people in the percentage of people going to college so you know that's something that I'm not entirely sure about but you're definitely gonna see. Your college is because the smaller ones can't compete at these price points anyways. And those are the ones that are going by the wayside now. Right should colleges be on the hook for students who don't repay student loans I rarity voted in our poll question today you can as well. Simply visit our website its financial exchange showed dot com. Or you can text us with your thoughts on that topic. Our text number is 63566. Tucker word you weigh in arms. I don't know on the little toward its display I don't know if you can afford the college and why you've taken on a giant loan to do so in the kind of put that on the side of the parents of the student ever. Side you know while I do think that colleges have you know an abundance of money and they should you know be able to pay I just don't think they. Fully should be responsible. They think they're just talked about partial. You know maybe like say kindred default you know 30000 dollars for the law alternated collagen and picked up 7500 even even so I don't know I just put that. Loan process on the student. You both come from academic backgrounds your wives both work in in education. Which what are their thoughts so ski and in and it would take chuck at how do you feel optimistic this could it here that it. I have less of a problem with this than a lot of the other things we've we've talked about in terms of you know one of the things was in a go to those income based repayments that can then be bought and sold by investment banks which in particularly love this I think makes more sense just because it's something where. Look if if your college and you know that if your students are not. You know in programs that are going to give them an education it's actually valuable in today's world. That you're not going to be is likely to let them take out huge student loans. To come. DOT to your programs you might say okay we can have more work study programs are you know different ways to go about it but I think it just it change the incentives for colleges which I think we need to do. Participate in the poll by visiting our website financial exchange showed dot com or text us at 6356. X. We'll keep you up market. Update when we return. Life goes on FaceBook and followers on Twitter. Show breaking business news is always burst right here on the financial exchange radio network. That speaks theory a great family friendly mountain when something for everyone including day and night skiing snowboarding snow tubing aired a special pop. 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 two things rentals lesson chips and entertainment that's because one of the largest nights in 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. 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Or blog on the leader bank dot com fees could reduce earnings in the penalty may be imposed for early withdrawal new money only leader bank a step ahead member FDIC equal housing lender. In medieval times sharp says was often the difference between victory and defeat. For skiers and riders at Killington. The end point of pride and admiration. No matter your battlefield the more you prepare for more triumphant. Here's to living more life on the edge save up to 40% on lift tickets when you purchase an advance at Killington dot com. Retirement something we all think about and I'll look forward to after years of hard work this month the Armstrong advisory group is offering a brand new guide called how to prepare for retirement they contains information that can help you claim for a safe and prosperous retirement and it includes your own retirement readiness checklist call -- 803934001. To get your free guide today or downloaded right now by visiting Armstrong advisory group dot com securities are protestors America incorporated member of the recipe seen advisory services are printer securities America advisors incorporated Barry Armstrong represented Armstrong advisory group the securities are two companies are unaffiliated. Time now for mostly watch a look at the market's performance so far today you still buried in chug right here on the financial exchange radio network. Time now for Wall Street watch brought to you by a leader bank leader banks precious metal collection. It's great holiday gift they're selling one ounce and 110 ounce silver and gold bullion coins. At all their locations if you by the points any branched. Gift wrap it for free. Called leader bank today 8776917900. Or visit lead back dot com for more information member FDIC. Mike Armstrong is now with us for Wall Street watch Mike let's start first. Now with the stock that really has had eight date heart start to 2019 and a year we're just about everything else is up CBS stock down about 10% for the year but up at three and a half percent today what's what's moving them up ports. They are this is really just an analyst report from currency which upgrade then you outperformed. Basically saying that there current stock range really has lacked the if you've managed care business that the acquisition and there's still a lot of concerns about CDS and a bit that they operated and that there's just you know everybody's talked. About drug prices. How PB and should operate and Medicare for all these big. Definitely could be very destructive to you yet that this topic that you're a place to drop reflects that it that yours. Competitor of CVS Rite Aid aid up about 4% today but yeah this is a stock that has lost you know about 90% of its value over the last two years why are they rising today. Yes yes they have not sure you can really you've been put rated at category yet know any more days they'd you operate store assimilated it yet but at this point of buried. That this model they basically announced that they are going to be cutting. A lot positioned so CEOs Seattle so will be taken off producer and as well as 400 corporate position they would name which estimate they've the company it back billion dollars a year and that's really all that's but the stock up obviously caught the question here what the likelihood that the stock surviving such a massive corporate job cutters but that'd like we are bad out there operating into the. Very good thank you Mike. Wall Street watch presented by lead to banking and given the call at 8776917900. Member of the ice. The Boeing story continues to unfold and I think it's a story that we're in re following for several years not months. What are we learning community the there's still flying in the United States my wife is getting on one on Monday. It was 737 Max so. Oh the big thing is and again the nice things I'm kind of a little bit of an aviation geek so I've been digging into this over the last week or so dear lord help us. Big big thing that we're starting to figure out is well with this 737 Max they put bigger engines on. But sort of fit the bigger engines on the plane. They move them further forward on the wings which means that the thrust is generated more from the front of the plane and has a tendency to occasionally tipped the nose up. What it seem what seems to be the problem here. Is they'd also built the system then that would detect when this is happening in auto correct by pitching the nose down now the problem is that. In building the system and they decided that engineers Bohn decided to put a single sensory and that would coordinating kind of died this system. In the problem isn't that that's sensor apparently. Is being a little bit walking they're not sure if it's really working accurately and in a lot of cases. And so. What you're seeing now. Is there are some companies southwest of particular who as a think about 35 these complex help lessen August by the way so southwest on on their 737 Max is that they have. They've gone in they've kind of retro fitted. You know backup sensors on to try to make sure word that you know they're not getting these faulty readings are that if they know if yes they can tell they're getting them. But it seems to be a case where the most likely culprit here is that this faulty angle of attack sensor. Is telling the plane that it's pitching up when it's not it's new diving the plane when it shouldn't be. So that's how does this not get discovered in testing. So here's the thing when Boeing developed the 737 Max but they did not want to have to have pilots who were certified on current 737 types. To have to recertify. And so they went through this whole process with the FAA where they said okay what changes can we make in and you know not made in order to let this happen. And pretty much. It looks like they eight did it goes through as comprehensive business training as you'd want on this in beat. Eat it seems like you know that their anecdotally the Dallas morning news. Reported that at least. Five pilots in the United States have had similar problems and Boeing 737 Max eight jets during quote critical moments of flight which typically landing and takeoff. And so it's if it's a case where it looks like Boeing wanted to get this plane produced so quickly. That I don't know shortcuts is necessarily the right word. But it seems like they tried to rush it through development a bit just to be able to get it produced as opposed to go in three more comprehensive. Process so just do echo off of what chuck pursuing I spoke with anonymous pilot yesterday. And he said down the 737 there's a stick pusher in the plane. When you're going to install will push the nose down. And at a crashes could possibly could be due to a lack of overall experience of pilots but that's more on the airlines to hire and train properly. So there's there's no no luck truth to the rumors that dates hacking and or the French are and halter. They've done nothing the the it it sounds like it's pretty straightforward. Hate to say that use that term. Yeah I I hadn't seen any rumors about packing or anything like others are circulating those items are starting. Well that's a good rumored to start now. Packing plant fret Ed and the French the French you know they make here us right now I did I don't think Airbus's hacking. Bowling and being being the CE can still get my sense of humor you know. Agree with that and another points what does that word there're 780 sevens made by bowing their grounded. You that was because of a separate issue as a battery call that was a battery problem kind of initial batch of batteries. Now what 2013. Yet 1213 somewhere in that ballpark. Well at any rate I EIV in the end of this story is nowhere near do you think the FAA takes the man of the year. The FAA has in the last two days they issued one statement Monday saying hey these planes air worthy and they issued a second one last night coming up more strongly. Saying hey these planes we still think our air worthy. And so. It's at this point doesn't seem like you to keep in mind the FAA still does not have a that there's no leadership of the FAA. There's there's no there's no hit we have acting department had. The eyes. I think they're gonna face too much pressure on the enemy force to ground. Where yesterday Tucker you broke the story about the stuff like attendance yes unions say they don't want it on yup exactly. That bring it to an end I mean that this is a big problem and in a toll on on some when I am a shareholder in Boeing. This big problem for them did you buy more shares after crater yesterday it's up today three box I haven't yet but I'm thinking about it. I was thinking about it and on the cake has eggs I said to myself if it's turns out to the you know pilot error or you know something not Boeing's fault. I mean the end and these are really the great jet that everybody's saying they are then if you make you buy that stock at a discount. Yeah you could. What's interesting is if you go back in you pull the list of you know 730 sevens that have had you know issues historically. It's not really a plane that normally runs into these kinds of problems for an N and that's what makes it. You know and in again it's it's the most common. Commercial airliner in the world. And so you know policy Katrina on the live in a lot of he's been flying in for for years and you know it multiple variations of on what happ. And have one more of these things comes down and it's at JFK the whole point. Of view of one domestically it Newbury it's it's not good for bone. That's that's my concern. That's why haven't bought the stock yeah. Yet there's a united I'd like to wait I don't know six months and he you know the seat. Because they haven't done it like this is a brand new plane the had one go down and October. And in October I think there's only about fifty of them in the air now others what 500 in the yet but I think it's like 350 to 400 and so is endemic in fifty a month. Right right that's that's like that's something like what you think screwed up on the engineering and to take back all the 500 they authorities sold. Re engineer them and do whatever needs to be us it's. Unlikely they have to do that in the reason why. Give you an example if you remember there is that Air France plane that crashed off the coast of Brazil may be a decade ago. And pretty much what they found there is that there was this this device on called. And pretty much they found that in certain situations that that Pete Tautou would ice up. And it was the case that and after were called the planes they just had to replace them with it did they had to replace those tubes with properly functioning models of UB something similar. In this case so it's not. You know you don't have to rebuild all these airplanes or scrap armour anything like that but it is something where you you've got to get this squared away you gotta you gotta figure out what this is fast. You know get a fix up because otherwise you people are going to trust getting on these planes that's that's. We get a hole yesterday chucked in over 60% of our listeners that they wouldn't get on these things so you know you're booking your ticket. Write in and he you have to pay an extra hundred bucks to line jetBlue because they don't use Macs yet. A 60% grocers that they go in the triple. I'm borderline in that 60% leg I'd have to think really long and hard about it my wife came to me this morning exit should I change my flight in it and I'm someone who. I read a lot about airplanes I understand it it. Decent amount about them in the late normally nothing about air travel scares me that this kinda does its eighth I'm not a hard no but this is a hey have got to think about it now. Are up next will be talking about five G. It's being rolled out in certain parts of the country what is it gonna cost you if you want to upgrade your service to five G we'll tell you in the next segment. Does this in stunt to. I know you're portfolio includes the financial exchange with Barry Armstrong and chuck signed off on the financial exchange radio network. Most people today are working longer and harder with less time to spend planning for their future but if you want to enjoy your retirement years you better believe that you need a plan hi this is chuck is not a retirement is something that we all think about it all look forward to and that's why we've written a brand new guide to help create a sound plan that takes into account the necessary elements that will affect the rest of your life when you're done working it's called how to prepare for retirement and you can call right now with 803934001. That's 803934001. Learn how to estimate how much money you need in retirement develop a Social Security strategy and decide what to do your 401K investments let us help build your plan like calling getting our free guide how to prepare for retirement call 803934001. Or download it right now from our website are strong advisory dot com. Security's effort to securities America incorporated members in SA BC and advisory services are with the securities America advisors incorporated Gary Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Proper estate planning can be the difference between retiring comfortably or living out your days under incredible financial pressure creating an estate plan is not a difficult process but it can be if you aren't working with an expert who can make sure that your plan to secure Todd -- to host of the league to exchange radio show has a new guide out this month told the top estate claiming mistakes and if you don't read it before you build your plan you're putting your assets at risk not to mention severe tax consequences even if you already have a plan there's information in this guy that will help you correct an issue that could come back to bite you in the years to come. As an example. Are you using a realty trust or Willis the only means of a state plan that is not advisable at all. You live in Massachusetts and are planning on moving to an estate tax free state if you are you'll still have to pay Massachusetts a state Texas these are just a few of the issues you could run into their took all right now 8668485699. And get your free guide the top estate planning mistakes colleague 668485699. Or download the guide right now from our website legal exchange showed Dodd John. That speaks theory a great family friendly mountain when something for everyone including day and night skiing snowboarding snow tubing aired a special pop. 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 learned 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 the job. Pats peak ski area and had occurred New Hampshire. That's peak seven may have just premier ski and snowboard mount has a deep snow based -- a skiing and riding through march dumbest the finest upon -- event on Saturday march 16 purchase lift tickets online at patsy dark call for great deals on midweek skiing and riding in March according 1920 Tony season houses are on sale in March for the best rate Italy's info go to pats peak 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 meter bank specializes in a wide variety of purchase and refinance loans at some of the most competitive rates in New England. A dedicated loan officer will work with you every step of the way and their local decision making music faster closing we're bank is the number one purchase 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 homework call now and they'll mail you a free residential mortgage survival guide detailing the home buying process from pre approval to the closing 8776917900. Is the number to call or visit them online at leader bank dot com. Member FDIC 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 and Aaron just vote go to financial exchange oh does come and test away. Many New York cited at the prospect of being able to get five G surface Y. Well it's going to be lightning fast you know I have to wait for a page to download it and click and it's gonna be there. What's that service that costs us. Yes Verizon is going to be rolling out their five G service in Chicago. In Minneapolis in April and if you want five G. Eight you're gonna have to have a device that is capable of connecting to it so for most of us. Our phones can't connect to five G right now for first and apple doesn't even have one right apple does not at a single phone right now that'll can connect to a five G networks that with him wall until point one is my yet they said yelling they're not leaving and happened until next years you get an eighteen month wait most likely to get an apple phone it's gonna be five G. Ready well who does have a treaty I believe that Samsung has one that's ready right now or they are going to be ready and so pretty much if you want to. Have five G yet it's Sampson is gonna be five G compatible leader this year. But pretty much if you want one of these devices connected to a five G network giving extra ten dollars a month for every device that you wanna connect. What if I wanted to stay on LT then you don't have to pay the extra. And discount. Yeah and I'm not really deep doubt about this five G I don't know of any I asked a lot of eye and tell us and. Bury us and here's my question so that the biggest promise of five G. Is that you can do things like watch video with no lag and stuff like that when you're not connected to Wi-Fi that's what you do with Tom of. The euros Wi-Fi Berry. Yeah I I I am put so why's it matter where it's like fast and speed plagiarism Wi-Fi right. Yen that's that five g.s can be faster than watch. It won't affect Wi-Fi though. When he mean. So your Wi-Fi that the speed to get any Wi-Fi comes from the line coming into your home or business and then the speedier route. Why an open defiant the op option. Rate between five G and Wi-Fi to turn off my Wi-Fi OT saying that he'd turn the life but okay I it would and there are so it's a lethal lightning fast guys. But what you click on a page. It doesn't take five seconds to download. She when you're my age you don't have much time to think about. Ten seconds for a page to write you needed now I just I just might be dead but talk about you could be dead by the time that paid downloads and you missed. I just think that five seconds is fine in my book I mean it's gonna give owners a secret God's spirit is you're not Barry's aids. There are sixty years ago you know maybe few months every second counts yeah. You know it's this is Alpa chino from you know willow but that's the football movie any given Sunday yeah we we fight for that second. Yeah you know exactly the second and we have are all around us is very wants orders birds in chocolate lightning fast speeds it has burst out of birds gotta eat man out. Pay proper estate planning can be the difference between retiring comfortably are living out your days under incredible financial pressure. Creating an estate plan is not a difficult process but it can be if you're not working with the expert. Make sure that your plan is secure taught muskie who host of legal exchange radio show. Has a new guy. This month called the top estate planning mistakes and if you'd don't read it before you build your plan. Your putting your assets at risk not to mention severe tax consequences. Even if you already have a plan there's information in this guide that will help you correct an issue that could come back to bite you in. In the years to come as an example are you using a realty trust or he will as the only means of in a statement. Let's not advisable at all. Do you live in Massachusetts and are planning on moving to a state tax free state like for what you are. Now your gonna have to play in Massachusetts a state taxes anyway. These are just a few of the issues that can you could run into so called right now 8668485699. That's told 3866. Eight or 85699. And get your guide for free the top estate planning mistakes you can download the guide right now if you like. Legal exchange showed dot com is the website that you should this. So yesterday. Afternoon. I don't think there's much of a surprise. Great Britain decided not to exit on March 23. Yes ended it wasn't particularly close. They I believe the measure was defeated by about a 130 votes when it was all said and done. And so this brings us to watch today. They are going to vote on whether or not they want to leave the EU with no customs deal or no pretty much in what's called a no deal brags. What that would be it is an unmitigated disaster site dictate the likelihood of that occurring it is negligible synopsis of that vote is expected to fail as well. It that then brings us to tomorrow where they're expected to have a third vote this week. On whether or not they want to delay Briggs and the polling on that's actually pretty close there's a decent chance of that vote fails is well it's kind of 5050 right now. And so. It pretty much is a case where. Have you ever you you've had to deal with this directly bear. When when kids get to be two or three years old they learn how to say no and they say no to everything yeah that's what British politicians are doing right now. Bit of it pretty much decided they don't want to do when he. Yep but now there at the situation truck where they have to go to the European Union and they have to get a unanimous vote. From the EU and to extend the did to delay the bricks. Which I have a sneaking suspicion that the EU. In its not because I think the EU doesn't want to give a delight I think the EU would probably be happy as a whole to give a delay. Yeah but there are an awful lot of people who don't necessarily want Europe to succeed the way it is. And that might want that might have enough influence in one of those countries to say. G. Australia Greece Austria Greece whoever it is. Take a poor country like Italy or Greece or Spain right and they say. Portugal right they can go and say yeah we're we're gonna vote against giving them an extension Willis you give us four billion dollars. And in and you better believe that I wouldn't it in again. You better believe that you know countries like China and Russia and so forth park in these countries you're saying they will give you a whole bunch of money in camp you know stuff screwed up if you messed things up for Britain. But I think you know and and it does give good international politics that's what you do you try to make you try to if you have competition you want to weaken it like that's that's what to do so. I A I'm really curious to see others next two weeks plays out. The Dow was up a 131. Points the S&P is up sixteen points and NASDAQ up 46 point screwed us up but while. Grows up that dollar eleven books at 5790. That means the price of gas that. Home heating oil is going to be rising just a little bit. Boeing shares even two bucks today will be back in a few with more. And it looks. 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 at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing calling 8776917. B 900 that's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. That speaks theory a great family friendly mountain with something for everyone including day and 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 reverse ski. Snowboarding do things rentals lesson tips and entertainment that's because one of the largest nights in areas and all of northern new England and it's one of New Hampshire most accessible learned to ski and snowboard mountains bring your family and your friends whatever your age or ability level you'll love pats peak. Phillies info go to pats peak dot com that's pats peak got a job pats peak ski area and had occurred there. Hampshire that's speaks ebony after premier ski and snowboard mount has is deep snow base they'll keep a skiing and riding through march dumbest the fun at the punched him event on Saturday march 16 purchase lift tickets online Apache doc calls for great deals on midweek skiing and riding in March Torre 1920 Tony season passes are on sale in March for the best rate Italy's info 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 home mortgage meter bank specializes in a wide variety of purchase and refinance loans at some of the most competitive rates in New England. A dedicated loan officer will work with you every step of the way and their local decision making music faster closing we're bank is the number one purchase 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 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. FDI CU equal housing lender MLS number four corner on two fronts here are subject to credit approval leader bank a step ahead. The money matters radio network WB MW Lemmon William W 275 CM FM good Boston the money matters radio network. Hi this is chuck and Mike from the financial exchange we're talking today about planning for retirement it's a big thing that you need to plan for. And really is the kind of thing that you only want to do once you don't want to have to under retire. Mike one of the things that people have to sort through is discussing a you know what's the aged. Our am I retiring herb we both retiring we're already retired. If your spouse is pulling in a whole bunch of income while you're retired it might not make sense to pull your Social Security right away so consider a bunch of factors that a big one is also life expectancy and that. Definitely comes into play with so security. In addition to Social Security another item that people have when it comes to retirement pensions. Is that the same type of conversation and same type the calculus the people need to go through certainly there's a lot of calculus there but there's oftentimes even bigger one with pensions and narrow bit more rare today which is. What sort of survivor benefit to buy and the option to take a my pension. It's not always clear cuts and I would caution here really think about it especially if you have a younger spouse that might beat survivor here. Our strong advisory group was put together and you guide this month it's titled planning for retirement in all you have to do to get it is call 800. 3934001. Go to Armstrong advisory dot com it's free to get and again that number is 80393. 4001. Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. In medieval times a sharp was often the difference between victory and defeat. For skiers and riders at Killington. The end point of pride and admiration. No matter your battlefield the more you prepare for more triumphant. Here's to living more life on the edge save up to 40% on lift tickets when you purchase an advance at Killington dot com. Proper state planning can be the difference between retiring comfortably or living out your days under incredible financial pressure creating an estate plan is not a difficult process but it can be if you aren't working with an expert who can make sure that your plane is secure Todd let's do host of the legal exchange radio show has a new guide out this month told the top estate claiming mistakes and if you don't read it before you build your plan or putting your assets at risk not to mention severe tax consequences even if you already have a plan there's information in this guy that will help you correct an issue that could come back to bite you in the years to come. As an example. Are you using a realty trust or Willis the only means of a state plan that is not advisable at all do you live in Massachusetts and are planning on moving to an estate tax free state. If you are you'll still have to pay Massachusetts a state taxes these are just a few of the issues you could run into their took all right now 8668485699. Engage your free guide the top estate planning mistakes colleague 668485699. Or download the guide right now from our website legal exchange showed Dodd John. Hi this is Rachel from Shawnee peak in beautiful Princeton man. Joni peak profits forty said Kurt trails or boasting gorgeous views of the presidential mountains. And lakes region of the name comes skiing entreaties we offered stiff and related areas to play and and free trade pacts that range from begin tenth street expected to. Did you know that Sony deep pockets mean most nights he knew Ingram. 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 maps 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 all day and into the night to make plans now it's Johnny. Com Johnny peak has plenty of snow outstanding skiing and riding conditions in a march plan that you will surely remember. Visit Shawnee peak dot com all in both events in our pristine schedule. Wizards pulled. Hi everyone I'm doctor Timothy Gallagher founder of Gallagher chiropractic and medical moments and I would like to talk to you about an. Important educational seminar. About breakthrough treatment option for arthritis coming up at the throw clubs in Concord you find yourself unable to do the activities that once enjoyed due to team because you've been diagnosed with our flights being unhappy about your doctor's recommendations of drugs or surgery. Well we have a solution for you stem cell therapy. I know there are a lot of questions and misconceptions out there about stem cell therapy and I wanna provide you with a current scientific literature about this FDA approved completely safe. Repetitive injection that can help you with the arthritic pain please be my guess that the the road tennis club in Concord lunch will be included so register at. Free stem cells event dot com forward slash Concord dash Lexington or call 9782084015. Join us on Thursday march 14 from 1130. AM 1 o'clock PM. And me. This is the financial exchange with Barry Armstrong and sharks are you're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the very Armstrong and sharks done us. Hambrecht sit deal's failure prolongs. Corporate and certainty. Volkswagen. Is moving too rapidly increase the production of electric cars. And the White House is looking to put colleges on the hook for student loans hi everybody it's buried truck what you hear on a Wednesday morning. And my gosh I guess we have to start off with that sparks story because I'll tell you what. It's going to be tough one Europeans companies they paid you not to mention North American companies that. If you're a company doing business in Germany you to a lot trade with Great Britain. Yet to be scratching your head and say in what what's the tariff going to be with what's the trade treaty. Blunt and you also don't even know necessarily when he goes into effect if there's potentially delay and you know win now article fifty is acts when we actually go through you know does this process you know does that affect beings it's that there's a whole bunch of uncertainty if you're a business leader. And what that means is that. Look for any of those businesses that are. You know big east in the UK but do business in Europe or based in Europe and do business in the UK. There's uncertainly there if you're a small company where you know you've just purely operate inside the UK. Yeah it's not gonna have a huge impact on you necessarily except for maybe collateral damage but your business alone. Isn't being affected too much but there's so much cross border commerce that happens now mean you're talking hundreds of billions of dollars when it's all said and done. And that means we'll look what happened at China with just 10% share. Right they're currently fell off a cliff yeah and so you you've got real questions as to you know if your business owner. In Europe hey do you wanna be making any kind of investment based on potential UK sales. Well what if you're trying to raise money that the team yes right refinance some debt and it that you got. You've got some bonds coming due and you need to refinance two billion dollar from that that book I'm not buying it right and a great now I do I was talking to our investment analyst. And you know we have a very frank discussion about whether we should be buying companies like folks like would just use that as an example served as it absolutely not the Yankees I don't want it not not because I don't think Volkswagen's a good company and there's a lot of good companies here I stole one touch them. Because I don't know pecs or anonymous. No it's it that there's enough uncertainty that there's a difference I always like to say there's a difference between risk and uncertainty. Risk is something you can measure if you say hey. I'm buying you know stock in GM but there's a risk that auto sales go down don't you can build the projection of pave how realistic is that. When you're talking about this. It's not risk that you're dealing with it's it's complete uncertainty it's the fact that would you don't know what's going to come out of this in there's no way to build any reliable Beale model to measuring its its just not something that you can do. And so. The convention is hey when you've got something that's more uncertainty than risk you just say look I'm gonna pass like this is kinda have you have to deal about it. Absolutely and a lot of investors feel that way beyond. I'm a small guy imagine you know he hit somebody like a park who just says. Yeah we're taking Europe off of our recommended us to write me would be in and all the sudden. You know what happens now. Frankly that could create a buying opportunity maybe you are able to that fact by Volkswagen shares at a at a discount because this is all a result. But the fact of the matter is a lot of investment guys like me are gonna say yes thanks but no thanks I'm gonna pass to another day. Yeah Andy and so it's it is just a case where I think that's what you have to do now just because beat you you you can't measure. Either how good or bad something could potentially be if you just have no idea what the outcomes going to be what even looks like a. Tesla has problems other than their incompetent CEO their shares by the way Europe four dollars today. At the biggest problem it tests this is Volkswagen is plain to make 22 million electric cars between now and year 20/20 eight. Which is far more than what tussle is projecting. Yeah and Volkswagen had originally forecast. Doing about fifteen million electric vehicles over that time. To me this is a signal that VW's gonna get more heavily involved in China just has China has significant electric vehicle goals that they wanna meet. They're not goals their mandate mandate the empty their basic I picked him number I think it's one out of the cars that you manufacture have to be electric vehicle. Yet it's either one at a later. VW is going to be getting beat up even more involved in China where there already huge manufacturing there. But it sure seems like you're seeing an awful lot of competition rolling out even just against Tesla right now I mean you've got Audi coming out with electric vehicles this year. You've got Porsche coming out with electric vehicles Mercedes is neither the luxury electric vehicle category. Is about to get really crowded in competition. Normally makes margins thinner in the promised Tesla has really have margins to. Well and you look gate you'd talk about the electric side track what you you know Volkswagen can roll these things after talk about solemn for like 2530. Yet I don't think they'll get their for a little while. You know that they're saying that electric cars with the VW brand global start in 20/20 which by the way I woke up and realize that's next year now lately it if it comes up quickly I'll tell you that much. But it'll be the fifth who. But so speeds up that I'd trust me I've seen it already so you've got you know potentially next year. I don't necessarily think they're going to be able to get to that price point and still have you know that the mileage that you need on these things you know it's. I could see VW golf yet to be under thirty but maybe only has 120 miles in terms of rain so that they've got some work to do to it I think get it towards mass appeal. Status at least. When you I'd just teased the fact that we have a guest joining us in the next segment her name is Melissa Korn and she's gonna talk to us about the college. Cheating scandal it's it's us it's a net major story and a lot of people are gonna go to jail and a lot of families are going to be embarrassed and a lot actual partner did the knee did. Are really I think ultimately going to be found to be the victims of this but what we're just talk about that but stay with this because Melissa court Wall Street Journal drugs and a few minutes. I didn't wanna talk about the White House proposal to put colleges on the hook for student loans I love this idea. Very rare that you see Elizabeth Warren and Donald Trump stomping on the same platform. Yes not something you don't typically see them on the same side of an issue but this is one that Elizabeth Warren. Was supporting as far back as 2017. It now has support from Lamar Alexander the Republican senator from Tennessee. And the trump administration likely to roll out a similar proposal as well and the point is really to make it so that. Rather than the taxpayer being the effectively lender of last resort and taxpayers being on the hook. If students default on the student loans colleges would be responsible for some portion of that and you know exactly what portion new rookie gave them perform those bird varies based on. You know how the schools accredited and you know things like that. Butts in general it's something that I tend to think makes sense because rather than colleges saying. They will be we have yet to get as many loans is. He won it doesn't matter to us. In this case hey if you're not producing. Kids who have the right education in the rate fields then you know you're gonna find that page you quickly accumulate a whole bunch of bad debt and your on the Ford is cults that so. I think it'll puts a pricing pressure on colleges now and I think that makes sense given how fast. College costs have risen. Our poll question today is should colleges be on the hook for students who don't repay their student loan you can participate in our poll. By visiting our website the address this financial exchange showed dot com where he can text us with your thoughts on that topic. Our text number is 63. 566. Melissa Korn Wall Street Journal joins us in the next segment to tell you everything you need to know. About the college cheating scandal I think we've we're going to jail. We'll talk to Melissa about that and more when we return. Short little tour everything business and finance future financial exchange with Barry Armstrong and chokes up on the financial exchange radio network. Most people today are working longer and harder with less time to spend planning for their future but if you want to enjoy your retirement years you better believe that you need -- plan hi this is chalks up retirement is something that we all think about it all look forward to and that's why we've written a brand new guide to help create a sound plan that takes into account the necessary elements that will affect the rest of your life when you're done working it's called how to prepare for retirement and you can call right now with 803934001. That's 803934001. Learn how to estimate how much money you need in retirement develop a Social Security strategy and decide what to do your 401K investments let us help build your plan like calling getting our free guide how to prepare for retirement call 803934001. Or download it right now from our website are strong advisory dot com -- He's our with the securities America incorporated members in SA BC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Proper state planning can be the difference between retiring comfortably or living out your days under incredible financial pressure creating an estate plan is not a difficult process but it can be if you aren't working with an expert who can make sure that your plane is secure Todd let's do host of the legal exchange radio show has a new guide out this month told the top estate planning mistakes and if you don't read it before you build your plan your putting your assets at risk not to mention severe tax consequences even if you already have a plan there's information in this guy that will help you correct an issue that could come back to bite you in the years to come. As an example. Are you using a realty trust or Willis the only means of a state plan that is not advisable at all do you live in Massachusetts and are planning on moving to an estate tax free state. If you are you'll still have to pay Massachusetts a state Texas these are just a few of the issues you could run into their took all right now 8668485699. And did your free guide the top estate planning mistakes colleague 668485699. Or download the guide right now from our website legal exchange showed Dodd John. It's 6 AM. Clear as a bell and winter quiet I'm watching my breath 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 yeah. Work we'll still be there tomorrow. Stick your lutes 401920. Tony season pass out during the spring sale by now and use it for the rest of the winter choosing your test at loon and TN. Dot com. Play for time is not an easy process there are many factors to consider such preparing for Medicare understand potential tax consequences from here investments in assigning a value to possible health care costs can be a bit like planning a Thanksgiving dinner in not shopping for all the right ingredients folks this Mike Armstrong -- -- nearing retirement age he need to get our brand new free guide called how to prepare for retirement it contains a wide variety of information that can be critical to formulating a solid plan they'll help you maintain and protect your assets while affording you the freedom to enjoy later in life -- right now and 803934001. That's 803934001. Can ask for your free retirement guide today guide includes your very own retirement Czech Lucie can make sure you're hitting all the right boxes that number again is 803934001. You can download it right now and Armstrong advisory dot com. Securities are for two securities America incorporated members in SIPC and advisory services offered to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are. Unaffiliated. Went into the secretive scheme it's that you don't have to be if he's going to raise ski resorts secret or freak people. Kramer has winter action on and off the foot. But the State's number when snow tubing park mountain coaster rides. Lest I SpinRite fan of Fallujah theme more than England like music industry didn't drink. Comfy like fan where was that is one of the best resorts in this state fair off election. Get these hills and think your trip that create more dot com. The financial exchange. Is Cole a brutal England and also now in West Palm Beach, Florida. Check out our website at financial exchange showed Doug come and find the station closest to you. This is the financial exchange radio network. As promised joining us on the line now is Melissa Korn from the the Wall Street Journal here to talk about. One of both the most disturbing and most entertaining stories that I've seen in recent memories the college admissions scandal that broke yesterday Melissa thank you for joining us. Melissa so it in terms of I guess the overall scope and scale of this just to start off. How many people and how many colleges are involved in this scandal supposedly. Yes so it is mast land and the prosecutors said yesterday about it the largest college admissions can ever about the impact yesterday. So we are looking at at least fifty individuals are charged. In. In the nation's destiny and that's apparent that. Unfortunate line not content. And it sort of second year athletic director at mile he I involve people will repeat not cheap talk your. Thought the fight expands. A pretty broad range of people. It into the schools. The bullpen alum are not implicated and that it individual coaches and one administrator. And it's the schools include everything from. Georgetown University Southern California east LA and parity now get eight main institutions. In terms of the actual charges that are being brought you mentioned as a few different groups there we've got parents. We've got the people running effectively this whole scam. And then we also have. Coaches and and administrators at institutions. What are the potential charges that are laid out in each of those different groups. Yes now for a I was alleged bribery scheme can't speak saying racketeering conspiracy charge and he parents are generally be saying I'm on the wire and mail fraud conspiracy. And an what. They're not entirely sheriff. What I have offended a mechanic says there are potential patent that could be you were a lot of wailing from the app to beat their very serious charge. Whip when we look at this the FBI yesterday said that this was a ten month investigation which is relatively short actually in terms of federal investigations is some of these can drag on for years to let's say anything about how unsophisticated this actually was when it was all said and on. Apparently I mean. Somebody applied fairly unsophisticated layered Photoshop and your kids being popular talk photo and it has great athlete. You know. I not high level. Technology there. Play it also could speak to lose cool was ready to talk Latin you know they had. I'll hunt of full report that when you cannot but so are you might as well. Look forward on land on the case. Moussa why we are getting into the ignition you can there are a couple of K cup. I'm actually a compliment for the current admissions cycle. Four. School that he affluent person. You know what we wanted to make sure that not admitting someone under talked contentment. Most of what are things that's so interesting about this is that it's. Much widely known that hey if you're someone who's wealthy in you'd donate in obscene amount of money to a school. It's a way that you can get preferential treatment for your children in admissions. Why then would would people who have significant levels of wealth and I'm not talking you know. People who are just have you know a couple million bucks we're talking people who work you know managing partners a private equity firm CEOs of big investment firms. Why are they going this route rather than it is is it just because they didn't want to give a larger amount of money. Cleanup might be part of it and I was one of the things the cops outside Belgrade that mr. like expensive approached. Like a couple of about the guarantee just donating a kind of money and having connections at a school and being a like at least from my hair and no way to attract the cannot guarantee admission. You know beaten Cooper has a patent attorney. Some seminal both angles into even if you know everybody under the sun and your family donated a few million dollars. Got my guarantee in the Stanley are looking at current guaranteed they were looking pressure of staying out yes you can look out here. And for those that we're allegedly involved in the ivory Williams. Being had been there could it actually is one of those. At cookie that to a sure thing in terms that a match and. When we talk about that it it's actually the exact next point that was that I wanted to look at. What this is kind of exposed is that it's. One of the easiest ways to again kind of guarantee admission is through being a recruited athlete this case of being a falsely. Recruited athletes. Does that speak to just the fact news just how much power these athletic departments have at their schools today and whether or not that needs to be changed. Actually and I wouldn't be kind of misty some schools are now looking at how our day. What kind of oversight I have I heard a couple of kids who are saying you know I think this guy ain't it great that we should definitely been on to our team here at mr. Asked he would admit as events. To really be looking other clubs here at okay well qualified person athletically is standard video proof that they are. What they say they are that they do what they say they killed. Rather than just this kind of meet up a clinic as a night I would be surprised if he's cool packed panel that more on that and that. Brings out a little bit. The brain that it a little bit but now I think I think for most people being ever could actually. It worked really hard whether that should admit that the college as a different content but they're not just writing on peace keeper. Listen the FBI give any indication as to whether or not this is kind of an isolated case or if there are any other potential new cases like this that are kind of floating out there that you know they might uncover in the near future. And hating it they have not added that they whether they're looking into other. He was like best they have such a particular investigation is still open and I could be other charges brought against parenting coach says. Having covered higher Ed for a number of years now I can say I definitely come across college admissions consultants who are. By the book and some who are less style so. I wouldn't be shocked if it help happens elsewhere whether or not the guys are and are eating at a. Very good Melissa thank you for joining us today and appreciate you taking the time. That is Melissa Korn from the the Wall Street Journal talked about the college admissions scandal. Chart your mom was a college. Counselor might cheat you would help kids in high school yet. What are her thoughts ST do you think Q did she think this is a widespread do you think this is something that. Is is going on there other companies that have been doing the same thing yeah I haven't. The chance to ask period she's on vacation at the moment so I haven't had a chance to wide get a hold of her she'll be back. Tomorrow so I'm hoping to blow up and pick her brain on this just as I'm sure that. Her entire you know rollodexes kind of blowing up in and talking about this the moment so I would imagine that I'm gonna be able to get to. Quite admitted dirt from her once I finally chat with they're not the news she is any insight on this case or anything. But just you know it's the the community that she's in when it comes to be of college counseling it's a relatively small and tight knit community and so word tends to travel fast on these types of things so. I would imagine she's gonna get a much better scooped and I have at this point. And you know some of the new degree on what else might be going. Time to play a little bit of trivia here on the financial exchange we do so every day. This day in 1906. Important social reformer and women's activist Susan B. Anthony passed away in her home in Rochester New York. We will be asking the true question. About Susan B. Anthony. Which president invited Susan B. Anthony to celebrate. Her eightieth birthday. At the White House I don't know the answer that question. But you might and our text number is 63566. If you have complete trivia before. Make sure you're my first name before you type in 63566. Which president invited Susan B. Anthony to celebrate her eightieth birthday at the White House. Seven now with duke eight listener with the correct answer to that question will winning fifty dollar. Gasoline gift card that can be used at a multitude of gas stations around the country. Let's talk about marijuana stocks they rallied yesterday it looks like another state is about to bill legal in terms of campus. Gave get done New Jersey their legislature joining the governor announcing yesterday. That the bill is moving through the New Jersey legislature to allow adult use marijuana in the New Jersey and pretty much. What this would include. Is you know certainly some proposed taxes in terms of pay they're obviously going to be attacks and try to regulated. But also. A procedure for people in New Jersey that have. Low level marijuana offenses they previously been tried and convicted of ways to expunge those convictions. From their record in order to me or not have those being a problem going forward if legalization happen. They. The first time I've updates yet it is the first time I've seen any state proposing something like that a wouldn't seem to make a whole lot of sense from work. I would think so yeah I ate once one state it's going to be a domino effect rate went once New Jersey does that and almost gonna have to do that New York is he's going next trick what was gonna go you know within the next probably sixty days I would think they're broke. So be sure that that can't be far behind the Dow's up a 191. Points the NASDAQ is up 76 point. What will come backward talk about the returns on the S&P 500 over the last ten years. The financial exchange is alive 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. Proper state claiming can be the difference between retiring comfortably or living out your days under incredible financial pressure creating an estate claim is not a difficult process but it can be if you are working with an expert who can make sure that your plan to secure Todd let's do host of the league to exchange radio show has a new guide at this month told the top estate claiming mistakes and if you don't read it before you build your plan your putting your assets at risk not to mention severe tax consequences even if you already have a plan there's information in this guide to what you correct an issue that could come back to bite you in the years to come. As an example. Are you using a realty trust or will as the only means of a state plan that is not advisable at all do you live in Massachusetts and are planning on moving to an estate tax free state. If you are you'll still have to pay Massachusetts a state Texas these are just a few of the issues you can run into their took all right now 8668485699. Engage your free guide the top estate planning mistakes colleague 668485699. Or download the guide right now from our website legal exchange showed Dodd John. In medieval times a sharp was often the difference between victory and feet. For skiers and riders at Killington. The end point of pride and admiration. No matter your battlefield the more you prepare for more triumphant. Used to living more life on the edge save up to 40% on lift tickets when you purchase an advance at Killington dot com. I everyone I'm doctor Timothy Gallagher founder of Gallagher chiropractic and medical moments and I would like to talk to you about an. Important educational seminar. About breakthrough treatment option for arthritis coming up at the throw clubs in Concord you find yourself unable to do the activities that once enjoyed due to team because you've been diagnosed with our flights being unhappy about your doctor's recommendations of drugs or surgery. Well we have a solution for you stem cell therapy. I know there are a lot of questions in misconceptions out there about stem cell therapy and I wanna provide you with a current scientific. It's literature about this FDA approved completely safe. Repetitive injection that can help you with the Arctic K please be my guess stepped up the road tennis club in Concord lunch will be included so register at. Free stem cells event dot com forward slash Concord dash Lexington or call 9782084015. Join us on Thursday march 14 from 11:30 AM until 1 o'clock. He had at 6 AM you don't meet your form. Doesn't matter my body knows the drill anyway because 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 the Bruins. Thanks to nearly fourteen feet of snow this winter flu is wide open with the over 360 acres of skiing across three mountain. Split tickets start at 69 dollars only as soon at and T and dot com. I folks this is Mike Armstrong and I'm joined state by state planning attorney tot lot ski with your financial exchange quick tip of the day. Today we're talking about the top estate planning mistakes that you need to avoid you know Todd so many people create their state plan but they then failed to fund it. Explain why it is such a big mistake in what we mean by you know quite funding your state yeah its it's really huge and it you've got to look at it from two points of view one. You're spending money after spending money. To put together an estate plan to want to work your right and if you don't put assets in your trust that you create its not working. In two very important respects one if you have a revoke Coble trust. And you don't fund it. Well then of course you're not avoiding probate because all the assets would be your name that's a big problem too. That language in that trust is what it's designed to help reduce estate taxes when one spouse dies. It shelters assets in and utilizes exemptions. There's nothing in there. It's not helping you do that nothing shelter so that that's not a good idea. And from an irrevocable Medicaid point of view if you want it if you're in case you're concerned about doing that kind of planning can you imagine not funding those trusts. Not only do you have all the same problems that we just mentioned with a revoke global trust but one very important problem you never started your five year waiting period. And so if you create an irrevocable trust don't put assets in in five years goes by and you think your assets are protected from the nursing home. They're not. You better fund trusts you better and it's something that they you know they see all the time folks starting these escape plans for not buying them up let's in the estate planning experts at Cushing and Dolan. Have written a brand new guide that details the top estate planning mistakes that you want to avoid you can request this brand new guy by calling 8668. Foray. 5699. That number again is 866848. 5699. But he can also visit legal exchange showed dot com. And download the guide right now again that website is legal exchange show dot com. You might not be able to keep up with all the latest business and finance news but we can't fix the financial exchange with Barry Armstrong and chunks not a on the financial exchange radio network. After years and years of activism for women and fighting slavery. Susan B. Anthony Spain group to the point where her seventieth birthday. Was celebrated in Washington with prominent senate members ten years later. President McKinley invited her back to Washington to spend her eightieth birthday in the White House. And the winner on this question was Robert from Falmouth who takes them a fifty dollar gas card and trivia today has brought to you by the Armstrong advisory group call 800. 393. 4001. Incident your free no obligation consultation today that's 803934001. You know earlier in the show we covered a story about why it might be dangerous time to invest in Europe and you know now and then we'll have people come on the program and say well the stock market's gonna crash at the stock market's gonna rally 20%. Think sometimes you need to kind of put away the bullies and just put your head down and do your job. The total return interest share a little statistic with your folks. The total return for the S&P 500 over its ten year bull market was eighteen of about seventeen point 5%. Per year over the last ten years that's about to leave means you more than tripled your money you're almost quadrupled to about Internet to yours. If you missed the twenty best percentage gain days over that ten year bull run track. Because you thought your so Smart he knew that in 2011 mark who's coming to a close are the world was coming to an end when Donald Trump got elected. Well you cut your keen to eight point 6% if you missed twenty days at a ten years. That's amazing to me that you eat you know people time this market and I've I've no I've learned this over my career started in the securities business back in 1984. And in that time truck I can't tell you anybody who's consistently been able to time the market. No me in in general most people can't and actually. I was we'll get some data on the the best ten year returns in the S&P 500 history exempt I was kind of curious where this ended up falling in. Do you have any idea in terms of what percentile. This ranks in terms of near the S and p.'s historical ten year returns. I would think it's pretty high up there I knew I mean you know we we went so low in 2008 and early 2009. I don't know I'm gonna say the top five. Pretty close 94 percentile some top 60. There were only some pretty much only 5%. Of ten year periods have been better for the S&P 500. Then the one that we just saw. You know if you take a look at the median returns account of that fiftieth percentile return for the S&P. It's typically return to historically that eaten a half percent a year average return when you've not the middle want to just kind of averaged when you look at everything. Is nine point 2% that's what we typically see over ten year periods. You know you often reference the paper white paper that was published by vanguard. And it talks a boat. The real value of having financial advisor because when things are common to it when the wheels are coming off right and they were coming off an October 2000 and a near you coming off. The carton February and march of 2009. But that paper you referenced from vanguard. Talks about really the the value of the advisors that they. Keep you invested in the market when you're tempted to sell your stocks because things are old sideways. You have vanguard did a study in the study if you wanna look it up on your own it's it's called advisor alpha. And pretty much what what they found is that the single biggest components. Of it you know kind of what in advisor does for that that helps. Is they keep you from doing dumb things that don't times that's that's that that the short answer against that. New graceful assay at that way but that's the truth it's paid they keep you from buying whenever one else is exuberant in the keep her from cell whenever one else is depressed because. Look Brodsky MA if they try to help you from time trying to time the market yet in a broad scheme of things look. Yeah you're not going to be bright and every investment decision that you make. It's better to be right on ones where it's pay if you move a little bit around the edges it its okay to be right or wrong there but when you make the decision to either put everything in your take everything out on a given day. You were saying with 100% certainty on those days. That this is either the top or bottom of the market. In no it's especially if. For some things complexes the of stock prices are you ever be a 100% sure he can't he can't. HMO chipotle Mexican guerrillas in the news again this time for good reason not food poisoning related. It has to do with their deal with ten below but I just I haven't looked at the stock in a while chuck. And in the last year you could've bought this stock for 307 dollars a share today it's trading for 636. Dollars cash. Yet and for you know some of the questions about Brian nickel when he came over from time Taco Bell we have people said hey gee is he the right guy for the job. Early return to granted it's only been about a year march 5 so just over a year now. Currently returns are really get him in the stock prices almost doubled under his tenure so far I can beat the board of Taco Bell this deal right. You know. It it also what I will say is the fact that you know he's come meaning kind of squared things away so quickly. Kind of points effect they probably should moved on from Steve Els who was their founder maybe a little quicker. You know it's the it is that's kind of the second piece there but to polish lot. Lot of times the founder stale you know McKee found yeah company and the control get a lot or is controlled so much of the stock. And finally I think after the food poisoning incidents. The board opposite lesson. Steve it's it's time ago he still to stocks only nobody's benefited more than Steve Mills know Bono by hiring Brian Nichols. In the the latest thing the big thing that nickel has been pushing is four you know greater digital immigration trying to speed up or processing times they've added. You know second liens for people who were picking up you noble borders and trying to go to drive throughs now. But the latest thing is that they are teaming up with demo to launch a rewards program. And so which is now lives it it's live as it is it's at that was march 5 tee under that something else that's happening more amount to it is live now. You can join right now we have. Or have you joined I have not been a player and a client had a Ian odious to spend 825 bucks it freed me it was a yet. So every time he had 12100. Fifty points you get one free on tracer ten points or every dollar spent but. Yeah it does after we had a 125 dollars every time they had bonus points that they hand out. Com you know for trying something new war room you know that all the special day or so bullets are pretty much. If you look at the price of kind of getting in and out to pull away with you know burrito and a drink. It's pretty much every ten to ten to twelve times that you go you're gonna end up getting a free burrito. Which people of that but they are people. Thought life at Starbucks. Yet it be that type of packaging. And marketing is proven to be very effective. Now it may run its course to merely be you get away for year to what it'll do is create tremendous cost. Yes it's it's something that I think will be really really good for them. In the long. Folks do you know what kind of lifestyle you want to have when you retire well if you wanted to be an enjoyable one it Colby Armstrong advisory rejection you know you need to get the Armstrong advisory groups brand new guide. Called how to prepare for retirement. I know that retirement planning it's not easy and that's why our new guide provides you with critical information how to build your plan it'll help you prepare. For wind take your Social Security benefits get you ready for Medicare and perhaps most importantly. It'll offer you advice on how to protect yourself from leaving large portions of your assets Uncle Sam call right now. 803934001. You receive your free guide today. We can also set yup with a no obligation consultation. To review your portfolio. And help you decide if changes are necessary before you retire. Get the guy today 803934001. Or you can download right now Armstrong advisory dot com. Securities offered to securities America incorporated members Jenrette SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Dick's Sporting Goods incorporated had another tough day yesterday their stock prices down 11%. They say they're gonna stop selling firearms at a 125. Of its stores further pulling back. From the business after the retailer decided last year. To tighten its policies around and sales. Just seems to me chocolate these sporting goods stores to companies and you'd never invested sporting good stores in electronic retailers and it may just very cyclical economy and make a big splash and apple they go bankrupt. Yen in Dix is kind of had a he really half. Almost decade now to be completely honest you know the growth in Dix if you look at you know kind of early two thousands through. Really 20102011. It was largely built on the back of golf which is a high margin sport high you know big ticket items and things like that. And quite literally when Tiger Woods. Went off the rails back in what was at end of 2010 I thinker early and of 22000 samarra marriage somewhere in that range. When that happened in golf you were steps started dropping. Dix is just not in the same company the stock price was effectively in a pretty much flat from about 2012. Through 2017. He picked to a related Tiger Woods and exit decline optics directly related to you yes I decided you know generational. It seems like you're generation is playing a lot less golf then my generation because boomers and boomers love golf millennial not so much. This is definitely part of it that's that and I think there's an expense factor built in as well. But if you look just at the overall popularity of golf and when it stopped becoming popular for younger generations. It was pretty much when Tiger Woods went off the rails tallied just. Golf though would be in accordance to you know Dick's Sporting Goods I mean you can find anything on line obviously exactly like I used to go to the ground here. Have yet and yet is there anything you need that even though they sell a lot of nice clothing like athletic Wear no I don't go there anymore by an on line up. Sneakers you name it and coming up are we talking about Rite Aid there another company in transition and exit new form of television advertising there or talked about all that in more coming up on the financial exchange. And include. Every child can the financial exchange on FaceBook FaceBook dot com slash the financial exchange this is the financial exchange radio network if you're real estate property management company you need a banking partner that has all the right tools to keep your operation efficient -- bank is one of the premier banks in the property management and real estate space offering a suite of unique products in cash management services to help you collect -- managed Condo association payments and digitize paper checks hi this is chuck is our leader 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 -- bank has a team of business bankers that are on call to help you and they'll come to your place of business to make it is easy as possible the number to call your interest in these services is 8776917900. That's 8776917900. 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Proper state planning can be the difference between retiring comfortably or living out your days under incredible financial pressure creating an estate claim is not a difficult process but it can be if you are working with an expert who can make sure that your plane is secure Todd let's do a host of the legal exchange radio show has a new guide out this month told the top estate claiming mistakes and if you don't read it before you build your plan your putting your assets at risk not to mention severe tax consequences even if you already have a plan there's information in this guy that will help you correct an issue that could come back to bite you in the years to come. As an example. Are you using a realty trust or will as the only means of a state plan that is not advisable at all do live in Massachusetts and are planning on moving to an estate tax free state. If you are you'll still have to pay Massachusetts a state Texas these are just a few of the issues you could run into their took all right now 8668485699. Engage your free guide the top estate planning mistakes colleague 668485699. Or download the guide right now from our website legal exchange showed judge John. If you've been looking for high yield account for your savings look no further than leader bank's eighteen -- CD they're offering amazing annual percentage yield is 3% when you open the account with a 100000 dollars or more take advantage of this incredible offer by calling leader bank and grow your savings today the number to call is 8776917900. And you can also visit them online at leader bank dot com again that's a whopping 3% EPY and all you have to do is open the account with a minimum of a 100000 dollars to earn that APY for more information call leader bank at 8776917900. 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Securities offered to securities America income members finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. We wanna hear from you. Thanks Stuart Barry's 263566. And let us know what you think about the stories we discuss your team to the financial exchange radio network. Chuck do we have breaking news that we need to share. We do this is being reported by Bloomberg that the Canadian government is now grounded the Boeing 737. Max aircraft. That is the latest country now to ground approach she leaving the US on an island as far as countries that are still operating the 737 match. I'm telling its common. Here thanks chuck I gathered affairs so much pressure now. It probably is it could take him. Pattern urge how they piece set of problems struck often take. A long time to results and then. Eight years that the the other issue comes in you're not getting any mileage in on these points you don't need you can't be Egypt's measured date the issue going forward. Didn't know but the problem is when things go wrong as we've seen your people die now you know I think. Dude I I I don't really have any sympathy for the you know either. Read it again I'm someone who owns bone stock I don't have sympathy for them going through this if their planes are built. Correctly right right. You talk I'll go as far as say US has grounded by the end of the week about that. While lately my replica board. We lose like if all of a sudden these countries Sybase a hate we'd only like you and our airspace rate which is what a lot of the countries are saying. Dole put one of these planes and our airspace. Then it it becomes pretty untenable because you have a flight going from Detroit to Los Angeles it's gonna go through Canadian airspace. Yeah I mean the big thing we still don't know what's wrong again there's there's plenty of speculation out there but it's. Here's the thing in in beyond even you know waiting on the you know kind of a fix. When you dig through aviation tragedies. It takes a long time off tonight gives it to deal even figuring out what's wrong conclusively. And so you know it could be. Eight months to a year before you have you know full report some things I think we wanted and then some cases depending on you know how difficult it is to it give get to the crash site how things you know. Ended up being a playing out there. I think they got the black boxes out of Ethiopia yes in and that's part of it but it's also you know they got to look at the debris field and then they look offered me you know they'll look at individual parts and try to look for stress on those parts that you know they can tell it was kneel before after the crash like. It's an encrypt the NTSB when it comes to. Their investigation of plane crashes is outstanding lead detailed. Well Lou only time will tell start out down mother oil obviously. Isn't yet. But it it's just Skinner they mean. It's like you lose in New York State. On the let's let's take a look at our poll question we asked that the White House is considering a measure that would put colleges on the hook for student lol so. You know let's say you goat to you man mr. Bradley University of Miami you know pace student loans University of Miami would be on. Partially responsible for your defaulting on your student loan debt. So yes that is a poll question should colleges be on the hook. For students who built repay student loans 64% of our audience struck sick yes they should Annika. I'm not surprised. And now you know I've I've wondered I think the question for me he's gonna be in the implementation you know issue lake should colleges be responsible for all of that. No I think that's a portion you know and portions going to be tough for them small and I think you could probably also make it you depending on the type of school that you are that. Proportion BO could change well also you know if you happen to be a for profit college maybe you are a 100% on the hook. You know look at because again it's really cute how your your company is set up an effort thing. So that you know you can you can play a relative depending on the type of school and things like that that is the way that your credited the others there's all kinds of different things that you could do. In order to to kind of get the numbers to work. Rated as a corporation in trouble they're facing investor pressure amid disappointing performance. And the disclosed plans on Tuesday route to replace three. Of its top ranked executives including the chief executive mr. John Stanley. That's never a good luck I mean there is decided it's a penny stock he taught him about a seventy cents stock. Yet it is in this is a company that you know is gone through. You know failed acquisitions and mergers and so forced. And so it's it's just a case where I'm I'm not sure. What's left here when it's all said and done you know this a company that just is is not. Generating the activity that needs in order to stay in business for the long term they still have a lot of stores though they got a ton they got a ton. You don't want to. It's look it's early don't want to partly that the drugstore business is so consolidated the nor can buy all the meter you know even if someone wanted him. Lot of time Blake. That they had a a merger with Walgreens. That they were trying to do and they were only able to sell you know half of its stores. When it's all said and done. Wonder why they didn't go for the Albertson's merger because that was cut of the death knell for the CEO he tried he wanted to do a deal with out Albertson's of the board shut him down. Yeah I've and I don't quite know I don't know enough on the the details there. So it's it's. I couldn't tell you why they shouted down blitzer seems like that's kind of why he's on the outs now and they're not going down the CDS path right where they're trying. You know provide medical services in the store I don't know if they have the money to pay for doctors aren't the baby me you're talking to literally about penny stock Rite Aid is seventy cent stock. The whole company's north about a 150 million I have a lot of debt that would be my guess and and he gave the extreme music that's a company could literally go away in a fairly short pierced time. Yes I'm easy it's an old line retailer DF it's it's a company that is real questions about its future to mute continue to up whether or not can continue to operate in the future. Despite all the global turmoil stocks are rallying the Dow's up a 175. Points the S&P is up 25 points and NASDAQ up 73. Price of oil is up but dollar one per barrel at 5788. Silver trading at fifty and 47 and counts and we will return with another edition of the financial exchange tomorrow morning thanks to folks.