Full Show 5-15-18

01:51:29

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

This is the financial exchange with the very Armstrong in chunks of you're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. We're gonna open today show with a conversation about two retailers. That are struggling. And my theory is that they are struggling because of online competition going to be talking about Macy's and Home Depot. And then our third topic will be a conversation about. How Long Will you have to work 16% of Americans think they're gonna have to work until at least 8675. Everybody it's Berry and John Moody with you here on a. Tuesday. And the Macy's story John is worse than the home Depot's story or talk about both of them Macy's in the big their same store sales. Mean look at it in over 34 Packard time. Continue to decline looks like around four to 5% rate. Of same store sales declines. Yeah you start compounding those numbers it's rather difficult and other numbers have improved a little bit they're pretty they're give moving in closer close to breaking even which for them is a big deal. Macy's shares are have been going up a lot in the last six months but really the reason varies not because of any great breakthrough in their business it's is deteriorating less and it's really real estate play the realistic that the company owns they have some of the best real estate. In places like new York and Chicago when they've had since the thirties yet and it's worth a fortune and what they're doing is they're sub letting a lot of that stuff. And they're becoming landlords as much as they are retailers so. Macy's is really realistic play. They have been improving product mix dispersing up their stores the of this backstage concept. Which the store within the store where there that's similar to that would TJ Maxx or very much the nets at the ladies tell me. And you know I lose we bought TJ Maxx Arnold we Stallone or not but I was very down on buying any retailer. In Sedona TJ Maxx is different and I guess people shopped at TJ Max and it's it's like a cult following Macy's is trying to develop that same thing. Yeah will be would Macy's is trying to do the start to realize they were very late to the discounting game they of people telling all of you discounting could cannibalize all the good high crime margin business you have. You have to beat yourself in retail if if if he can be done more efficiently and cheaper you got to find a way to do it. They were reluctant to do that they're doing their backstage. And their positioning backstage pretty smartly. Instead of just discounting everything. What they're saying is you know let's say your size 36. Via the thing you really love that's at a huge discount is available. You know once a month for size 36 so what it's doing is is this make you one of the women participate in the hunt which is what TJX corpse through TJ Maxx. And also also marshals. What they have people gold for the hunt. They she's got his doing this and they have the benefit of being able to sell an awful lot of real estate to kind of pay the bills while the getting Iraq together but. Their sales are under pressure the other story is really more pure retail play which I think is always been a great indicator of the economy. You end up housing and a real estate and Home Depot. I think is the check the news on Home Depot this morning was weakened and I've heard all it's the cold weather and I'm not sure I'm buying it I acknowledged in the weather's been bad in this weekend by the way it's post be another. Tough weekend we thank you if you're a tomato guy it's going to be you're not gonna eat tomatoes in this weekend yep. That don't weather has not been particularly. Warm this spring. And that's what home Depot's attributing their week's start to I'm not buy it made it scarcity there revenue was 24 point nine billion. Vs 25 billion forecast they missed yet they missed by you know. Zero point 25 billion dollars that's that's a pretty substantial mess it is especially in the context that was yours to keep in mind. Sandbag a lot of these estimates so when you hear that a company. Didn't beat the rest of its I tell you that's usually a low ball estimate does a whisper number Wall Street and that numbers usually considerably higher than the official forecast. But when you hear that a company came in less than forecast it's actually worse than it sounds because those numbers are sent back. I think that's a pretty good economy indicator in a certain sense because. Despite the fact there's a migration to on line there's been less of that in. Areas like home improvement. Home model that I know what we're talking about a I've matured. You know like I went this morning because I saw the announcement. And then I scroll through my online orders that Amazon and I found. Two items that I purchased within the last 45 days that I would normally go on to close one I went tools and couldn't find it yeah in and night and I. And then I I site folks I ran that theory by John. And I said I think your wrong very by and you'd buy at any of your online purchases. Have had air any of your. Lowe's has John's a low sky. I say it any of the stuff that you would normally buy it blows. Have you bought an online to absolutely no and then he backed up its own right despite lawnmower and page from those years. Those are things that yeah you know you might have purchased. At lows in the past and here's the problem. You buy it on line with its budget dot com lows that are Amazon.com. Chances are going to be cheaper. Yeah it's gonna get delivered to your house to heavy item write a law enforcement of an inconvenient thing to go pick up the and most especially via a compact Korea now he and you could get it flipped. Utah to contractors I don't know if you've yet many buddies that are IG sees her plumbing Contra ideal of people in the business yeah. Ask of the you'd be shocked at how much of the air purchase. Is now going on line. Remember though your year I think I mean I think you're implying that lie that is is now Amazon business which in my case by the way you're right. I just ordered a trigger for like a 145 bucks on Amazon. But I probably would have bought otherwise you can look at. Our post I did not and that's a great point but but Home Depot on line sales are going higher and what was on line sales. Are going higher. And grown at 2030% a year. They may be from a small place they're still in protest and civil problems is you you get on to jet do you start buying stuff on line. It just becomes. Too easy yeah you know it just I. I look if you ever looked at my Amazon purchase history you'd be shocked it does that stop by by. And you know. This is an I I sense that is before the winner in this game is the consumer the reason why right now I don't own any retail stocks. Is because I'm just enjoying the deals I'm enjoying getting that tremor sent to me you know without any charged to my door right. For their cost is indeed I did an online order on wall mark got some essentials there's Wal-Mart doc now. And I would've like 45 dollars of basic very low margin essentials. They're sending a two day delivery with no membership required rate in separate packages now it's the cost them ten dollars. For an order that probably is roasting the below four dollars. It's it is a racial bought in and it's wonderful for the consumer well the market's telling us that were wrong because it home Depot's stock is only down two dollars or 1%. I think tomorrow we get those numbers. Those numbers are usually worse than whom deep own numbers. Date they have definitely not executed the same way Home Depot has no question about that and what was doesn't have an excuse because they've been doing this for years and they said aggregate Iraq together about ten years ago they still haven't done it. Home and Home Depot packs too cute. At a much better rate than that in most of us but I thought I shop of motions in the news Tucker in your household any of The Home Depot purchases going on line or any hardware purchases going online. Enough for the the most part we still go to the lows in the home depots of the world you do. Now. You you can use our rub our tremor if you want to hear it on the street I a little right it actually charged death. I mean a Trimmer and if we can I wouldn't carefully guest at the lot of people are saying that they're gonna have to work. Beyond the normal retired and he 16%. Of employed Americans. Are planning to push themselves to work until age 75. Or be on this according to a hold on by Northwestern Mutual. And the reasons run the gamut from not having enough savings to concerns about health care costs and Social Security. So there are economic concerns. But there were also reasons why people working to 75 and beyond. For the same reason that guys like Charlie Munger and warned that work in their eighties and nineties that is they tap dance to work they love what they do. And more importantly we now know you'd actually will prolong life we have multiple studies here that show. That people are working beyond 758. At the same things the but what they're stating that while I that people haven't saved any money I just can't IEU I talked to people in the sixties. And for a variety of reasons might be divorce it might be health care movement be used often times it's opened their kids. But it the they're broke either sixty years old ladies in my peers in and they are in so they don't even talk about retirement. He's not even part of the conversation and you know another. Serb people have any it's interesting because. If you step away from someone's finances you look at them and say OK you're 76 years old. I mean you can spend as much as you want to when it lived to be like one of the oldest people ever and you'll be fine. There's a real reluctance to reduce the levels of of assets the people have that if they don't wanna Britney went with tornado wanna say difference. Brian exactly so the number two reason beast be beyond adding to savings they don't wanna reduce the amount of money they have the savings level. And the other reason which is equal almost as people start to realize they can live longer by working there's a specific. Their studies approve this and what's fascinating is. Even people who retire in their fifties and sixties. Die younger group gathers a number of studies that show there's oh barge co relation between. When people report on why that is you think you know he'd have more time to exercise he could be more efficient with your diet today he. Again the you know I look it's and at work is being something that detracts. From my ability to with a higher quality of life but people lose a sense of purpose which adds to depression and anxiety. People develop bad habits look when you're working your real hard Barry you're not sitting at home eat junk food. True and if you're retired and sitting at home and watching television. You might be because why should she start to feel worse mentally you're starting to take on bad habits in terms of you reading habits and so people are. Working later to basically live longer. You know despite people being you know people being polled saying out and work longer work told 775. 60%. Of workers are forced to retire sooner than they plan and that's for a variety of reasons. But that was you know that that was a startling poll that I've seen that time and time again and again it's my peer group and I'm in my late fifties. John you must've seen I especially out of the media this all the time. Yeah because. Then there are you really have to look younger to write but yeah I'd be the fact the matter is that you don't see a lot of 65 year old news anchors now and he don't at all yeah there's some. But he eats its rare. That and news anchor male or female I think that discrimination on each and each basis is more stark against women. Yeah news anchor tonight it is just my observation. But I I've seen a lot of really good news anchors edit they get into their late forties yet you gals and also had their contracts. Is the the age discrimination I think is rampant. And eat but you're seeing even in industries outside well absolutely and I think the primary reason is the cost of health care. Because you think that's a motivating factor is that wheat. Let's let's call it the general. Compensation package. Which includes yet you've been there twenty years you've had your cost of living wages all of a sudden now you're making a prohibitive amount of money so on the wage side you're simply earned yourself to a point where you're paying what the position is. They wanna budget for when I got to the late and it has 62 year old yeah. And you can replace him with a 38 year old. 24 year difference. And and all of a sudden there you're your saving money in terms of how straight. That's that's the spot the health costs and the fact is you've just bypassed 24 years of cost of living wages increases right so you know by definition aperture is probably making more than the position main ordinarily time. Poll question today is were you forced to retire. Earlier than planned and I know many of you are still working so yeah I guess you would vote no. But a lot of you who are retired but be curious unit did you get to work like I say you had planned to work to your 67. I'm thinking of somebody I know that the plane to work to their 67. And their job was eliminated at 62. And you know they had to kind of fill the gap if you. That's our poll question you go to our website financial exchange showed dot com if you'd like to respond if you want a text us your story as it relates to perhaps. Retiring earlier than planned our text number is 63566. If you haven't Texas before me treat my first name Barry. At the beginning of your text were you forced to retire earlier than planned. And right now only 36% of our listeners. We're forced to retire earlier than planned on the general poll that was done by northwestern 60%. Of workers were forced to retire. I think both those numbers are high. I'm and I am sure the reality but it their votes both unfortunate numbers if people want that if he wanted to work longer and 36% of our audience couldn't. That's bad for society it's bad for them it's bad for everyone. Up next are we talking about the prior arrests and there. Probable mixing of the Blue States work around on tax deduction cap you may not be aware of this program that's being introduced New York State. And Connecticut error are on the bandwagon and I'm sure a lot of Blue States will be doing this in and trying to figure out. How to work around the limits on tax deduction of local state and local taxes that's our next topic on the financial exchange. Have a question for Berrian junk now you can text us at 63566. And take part in the show at any time. Start your text through keyword battery can join our exclusive club days as the financial exchange radio network. Hi this is very are extra like many if you are. I was very interested to watch the markets after president Trump's tax reform bill passed last December if you have an irate Horry wrought by area count one little nugget that didn't get much media attention after the bill was signed with the idea of Roth conversions or re characterizations. Under the prior rules if you attempted to convert a traditional diary to a Roth you could undo that request and not get a tax it as long as you made the request before October 15 of the tax year in question after January 1 of Tony eighteen that provision no longer exists if you're concerned or have questions about how this change will affect you call me right now to get my free guide about Roth conversions the number is 803934001. That's 803934. Zeros or one or you can download it right now at Armstrong advisory dot com. Securities offered to securities America incorporated members in SIPC advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. As we age estate planning and asset protection become a Paramount importance to a happy and successful lifestyle many to go through this process think about transferring their home to their children to protected from the nursing home if you're not careful a nursing home stay can judge your financial wellbeing and transferring your property isn't always the best solution because you're looking at huge capital gains taxes and home sold the if you find yourself in a similar position you need time let's brand new guide the risks and rewards of real estate ownership a senior partner with Cushing and Dolan and host of the legal exchange radio show Todd will break it down for you piece by piece and in turn will help you avoid probate and unnecessary taxes are better ways to own real estate and this guy can help you understand how to protect what is arguably your most valuable assets call today for your free guide at 8668485699. That's 8668485699. Don't put your home at risk to get away from your children's creditors spent keep it safe from the nursing home call 8668485699. Or log on to legal exchange showed dot com. Everybody it's very Armstrong and Jake tool Jay is the executive vice president at liter bank. And we're here to talk about a brand new product available for landlords it's called Z deposit dot net Jake. What. Terry we created a security deposit product. To really help the problem a lot of blame border facing with security deposits which is. You know one it's time consuming to open the small internal security upon number sons. And yet to go into the branch and signed paperwork and their small dollars in any turn. And it's likely to complaints in Massachusetts really tough for landlords and security deposit accounts. You have to give them ten in certain forms when they open up the count and you have to pay interest a new and we should do all this canal through easy deposit all of that you can do through Z deposit it literally takes about forty seconds opened up an account. We handled the automatic forms that are generated the account number department condition statement all that said lieutenant. And the interest descend to the tenant. Automatically every year. This sounds like something it's going to be very valuable to large landlords it might have 200 tenants and small landlords and might only have five tenths yeah absolutely with a large landlords. It's just a lot of hassle to managed so we make dad very efficient for the small landlords a lot of them are afraid of nineteen complaints done correctly so some of them. Some of them don't even like taking security deposits were hopeful that this will help them do that. Folks if he'd like to learn more about C deposit go to their website Z deposit dot net. Or you can call and speak to somebody on disease deposit team it's 7816418691. Or online at Z deposit dot net it helps. Landlords managed there tendon deposits two great concept you might wanna learn more about 7816418691. Security suffered through securities America income member Sandra SIPC and advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. The financial exchange for Barry and chuck is alive on FaceBook and YouTube every morning beginning at ten and this is the financial exchange radio network. An estimated 60% of workers were forced to retire sooner. Then expected our poll question is were used forced to retire earlier the next than planned. You can participate in our poll by going to financial exchange show dot com. Let's talk about the changes. That were me to the deductibility. A state and local taxes on January 1 of twenty team with a new tax law is capping the deduction for state and local in income taxes at 101000 dollars. From much of the country this is not a big deal but is a huge deal. In places like Massachusetts. Connecticut New York bird island Rhode Island. Places where it cost more live where you have a big property tax bill and were incomes are higher which means you're paying more state tax. What's happened is one of the what you're paying an operative would get back now because of that cap which some pretty tight camp at 101000 dollars some municipalities. And states have been looking or Hulk we may be get a randomness. There's been an establishment of what's called charitable funds that a lot you paid for local services. We'd like the tax bill let's let's talk about it because let's let's use the example somebody who has a 20000 or property tax. The first 101000 new pays property tax write the remaining 101000 dollars you'd be in theory making charitable contribution to the town in which you reside. So that's for your B that's very local taxes are paid current. Well you accept in in many cases. That tax bill. Has a lot more money to education. That it does on charity so I don't know how that works but some of that is. Is kickback as you well legally by importing it into a share or go charity allowing you to get the charitable deduction. Instead of the tax deduction you get on the property tax by the way that's scenario to. Every dollar you may pay tax your state tax you get nothing back. Right for you Droid. Maxed out on the 101000 dollar Japanese state income tax like yeah. While they have a workarounds for that as well hopefully it is a day and would have a payroll deduction that EU European. Role would go down on the state and local taxes. By that percentage. Here's the risk day you'll run if you participate so Connecticut might pass this. Massachusetts like passes ma mean Rhode Island and all they say we're gonna we're gonna pass this law at New Hampshire could do because they've exceedingly high property taxes in New Hampshire. So all the New England states could get together and say we're gonna passes the problem is the Internal Revenue Service is gonna sue you. And you may not get a resolution on this and ruling for five years so you've been. Playing by the rules that are in your local state level and then all of a sudden the feds in the and you find out you lost after taking advantage of bogus tax deductions and bogus tax scheme. Could cost you whole Lotta money penalties yet they don't charges zero point 9% interest we don't in that that's there that the risk I wanna point out to people yeah is that. Yeah this might pass in in Connecticut I suspect might be when the early states. A New York is certainly looking at this because if you look at the numbered 2015. The average new Yorker salt deduction was 22169. After I mean I've told people don't be mad as heck next spring. When they walked in and their accountant says yeah I your tax rate went down what you're overall tax bill went up by three grant. People don't understand that you John and I I think they're in for a rude awakening actually a surprise that bad surprises coming. Markets down for the first time in nine day usually you know with the numbers are when we return to the financial extra. Like this on FaceBook and follow us on Twitter. Show breaking business news is always first right here on the financial exchange radio network. This is a special announcement for a landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of Brent de cuisine brand leader banks all mine rent collection tool zero automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more we Z rent your payments for each unit received regularly on the same day every month tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot meant to learn more or call 7816418691. If you have a Roth IRA for personal investments here's something you need to know under the new tax reform bill Roth conversions are now permanent Colby Armstrong advisory group right now and get their free guide about Roth conversions the number is 803934001. That's 803934001. Or you can downloaded right now at Armstrong advisory dot com securities are for use securities America incorporated member Finneran said PC and advisory services are produced series American advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. If you're landlords looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and see rent dot net without the need to collect checks mostly in the local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC if you're a landlord and are interested in having your bank required does he ran technology Tillman McCall does he ran team at 781 at 6418691. That 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot. are you thinking about transferring your home to your children or protect it from the nursing home did you know that if you do you put at risk for your children's creditors including future divorces do you really wanna write a check to your former son or daughter in law just to buy your own home hi this is Todd let's can I want you to know that not only does transferring the property put your home at risk but it can also create a huge capital gains tax when they sell it right now the federal capital gains tax can be as high as 23 point 8% and that's an addition to your state income tax there a better ways to own your real estate that can protected from the nursing home keep it away from your children's creditors avoid probate and not cause unnecessary taxes a got a brand new guide to real estate ownership out this month this free guide we'll show you the best way to own different types of realistic call now for your free copy at 8668485699. Or download your immediately by visiting legally exchange showed dot com don't put your home at risk 8668485699. Or log onto legal exchange showed dot. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and your gold locally to just make sense of leader banker called and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency on guaranteed by the bank and may go down in value leader back a step ahead this is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of today zero and leader banks all mine rent collection tool he automatically tenant's rent and deposited into your account visit WWW he ran dot net to learn more we see rent your payments for each unit to receive regularly on the same day every month tenants pay nothing in the first six months free for all landlords visit WWW see rent dot meant to learn more or call 7816418691. Time now for Wall Street watch a look at the market's performance so far today but I still buried in jug right here on the financial exchange radio network. Sir John made markets have been up what. Previous eight games the Dow's been on a run it was a that run appears to be ending at least this morning the market is down a 182. Points interest rates are rising to ten years the big story here is the three point 05%. That's a pretty big number of global tensions following the US embassy in Jerusalem call me when it reaches for an. I hit I think that's that's when I'll start to get a little older. Well the market may just get a little nervous before your wife waited with what is wrong with a three point 0510. Year treasury loan and don't get. Long term nothing short term what it does at the margin is it attracts more money. Two things like CDs and fixed income in makes the return of stocks took a little bit less attractive could mean second by cheaper. OK I mean it right if I mean I I agree to it if you're a day trader you might be happy. If if you're if you're an investors though right you don't you look at this is a OG&E O home Depot's down three box Macy's is down six pennies M as a down 27 box at my gosh it's a bargain at 1573 share that's the way people should look at it and I completely agree review but in the meantime. Stocks are are nervous about the fact that we could have interest rate to increases here that might total war this year well that's the that's talk about that too because you've had one quite so far. Right right. Now all is said Jeff Cox my friend at CNBC saying while the market now pricing in for interest rate hikes this year. Which means the people we done well so they've got to go engine right at September in September and December. There you go I I the only way in which European. That's the issue because Dan Werner global economy and if we right now not to get all geeky on you here but the dollar is very very strong it was weak at first there is a oh well what's trumpets of the dollars we go through the roof from the dock at the bottom line is we don't have a weak dollar for awhile and actually help the economy sure does the thing about your main factor you'll love it yep and so right now the concern is that the dollar's getting too strong. You keep raising rates it makes the dollar even stronger. So how do you raise rates when inflation is running below your heart pretty. How do you raise rates at all. Right. At one point 81 point 9%. In theory you should be touching interest because we are we started was a ridiculously. Low emergency rate so it return to normalcy. So we're returning to normal 3%. Would be considered a very loose Boe rate. After all these increases were like at one point somehow I get so we're what we're we're having the pain of what we we do is coming to bury their pockets for years. Says W painful returned to normal then and it's going to be volatile but we gotta get from point a to point B were chronicled through that right now the but the earnings news. OK but not great we talked about earlier Home Depot beaten earnings fell short of revenues. The transactions. Actually declined one point 3% from him and here's the weird way markets act. The weakness in that quarter is actually being looked at by Wall Street and saying ops. Those numbers we had last quarter we're gonna have a big make up this quarter in the second quarter. And that number might show very strong growth in him and make the Fed even more inclined to raise rates so that's what we are good news. Unfortunately right now is kind of bad news for Wall Street because stern think. Every time we get great news now it means the Fed kind of has to raise rates and I say who players. At the end of the day the markets we want the Fed to raise rate and its own pace you know routers talk herself with care all yeah. Sucker so what could be right now he can borrow money for an half percent first house. And a year from now Tucker don't be surprised if it's you if your mortgage rate has five inform. Well crap. And I think it. No no yeah that's that's just the reality. You're talking it's the best economic analysis I've heard all day. From Tucker so you heard I I can't beat that. Perry are strong here behalf of leader bank if you're a landlord or property manager heard you've I'm sure you've heard me talk about zero. Its leader banks tremendous on line rent collection program I'm excited to tell you now about their brand new product called Z deposit. This is another free program which streamlined the opening of tenant security deposit accounts through a totally digital experience. With Z deposit landlords can open an account online invite their tenants to enter their information and manage all of their security deposits. Z deposit. Also automate many of the complaints headaches for landlords such as generating count disclosure forms. And they will even send out the annual interest payment directly to your tenets. Just called dizzy deposit team to get started 7816418691. Is the phone number that's 781. 6418691. Or visit them online and Z deposit dot net member FDIC leader bank a step ahead. Capital spending boom is no great boost to the capital markets. You don't if I I am what I have not yet I get a cat because. You know the big criticism towards the corporate tax that was that all companies are doing is buying back their shares. Now we immediately got. Proof daddy. Capital expenditures. Are 24%. In the first quarter write up. There you know companies are reinvesting in machinery you're buying new factories here. Building new factories all good stuff. Really good stacked right. It's terrible but it's it's it's not good for the capital markets give me a break at Kapalua capex expected to rise 24%. If you thought that they were just like shared the stuff with their shareholders and just gave me. Giving bigger dividends. Yearning that that you get a better bang for your buck when you do. Long term you know you resort short term. If if you reduce your stuff you buy back. Long term so you invest and robotic technology you're you invest in new plants and equipment you take on new markets by other companies. He would beat you you invest in your people in your company. And guess what Wall Street doesn't like the fact that. They're nuts they're not they're not buying back their stock and paying larger dividends. So capital markets are concerned I think this is silly though because honestly. What's happening now is corporate America's beacon still profitable they can buy back stock they can raise their dividend. Ian they can increase the capital expenditures by 24% it truly is a best of all worlds scenario and underline that point buried that. They're not doing this at the expense of buybacks or do we bowl. The buyback rate for the S&P 500 has now hit 3%. So. 3%. Of all the stock that exist out there in the S&P 500 will be retired in buybacks this year and that makes it awfully tough. For the market to correct. Did you one of the challenges market faces. If it needs to go down what happens is. On a day like today home Depot's down to dollar I don't know off the back the stock or not but often times you see that happen. Stock was down in the big underneath it. Because the companies say. Two bucks we know. Like it does yeah CFO Home Depot is sane. We know we're going to be worth 220 bucks in two years so let's pipe activity at one needy let me tell anyway a lot of Smart investors including Warren Buffett love it when stocks are down because you alluded to earlier. If you own Home Depot. You're Home Depot company is now in their prolific purchaser doing stock. There company can now buy more stock which increases your ownership of the market is down 156 points what is today. If you're in a 401K. That's blind. Home Depot. During the buy more shares for the same dollar amount. So what you want if you want a market to compete choppy when you're in the accumulation. Phase because you buying more in you're getting more value that's the that's the upside volatility. My favorite restaurant. May favorite fast food. It's tripled is that considered as fast casual basket not a not not really a mcdonalds of the world OK so who'd like compared to an air yep that's a great comparison when you build keep hearing Hugo definite same thing mister polar pretty much at Taco Bell fast. Correct. I like chipotle. Unabashed fan poll however it a little bit of a problem. They fired when their managers who was accused of stealing 626. Dollars from a safe. They said that they had it on video today via wish they didn't well. If they did it wasn't hurt taking it. They had her doing something you look this Judas but I don't think they Cotter resident quality what happened. What is when he went to produce the tape could write write the eighties he couldn't. They couldn't put Nvidia claimed that they had a but it could prove they couldn't prove some saw it either. Never existed. But any rate so the the big fire pursue an and I would supposedly 600 bucks a sub 646 but so I have an employee with with or without a video today. And I caught them stealing I would try having would and wouldn't you you would do the same thing John you would do the same thing you're right yeah you'd you'd fire and employ. So they fired. And then she sues and she wins eight million bucks in wrongful termination lawsuit but there's a story behind this so she's up 8000626. Culprits and as Stewart but there's a story behind the story what's the story the story behind the story as the jury heard this case and having sat of these leagues there's a lot of things that don't you know me. Make public the public information. The jury ruled. That Jeanette Ortiz. Was the victim of a scheme to defame her that the company was doing triple who's doing. For filing the worker's comp claim for job related wrist injury but she said caused Carpal Tunnel Syndrome. The jury felt like. What what you poll he was doing his. Is is you know jutting out this this thing about the rules steel ball that the united steelworkers yup click yes that's bone disease. Account the lake. If you're a worker's comp claim. You're not gonna risk firing some especially good worker rate you're gonna say. Eagle on the plane. I did something and it's I don't get the story yet juries can sometimes be sympathetic. Well absolutely nothing puppy got the big mean corporation. Rate in the and you have this sympathetic victim who knows I heard from carpal I get paid not to change so I said in an injury case like this is in the midwest. And there was a completely bogus slip and fall. By a woman who recently moved to the state of who had filed three slip and fall claims. Ian a different statements he's clumsy half. And they had video of her. I think everything you know they had to take your groceries run in the triathlon in the right to work hard no problem she said she couldn't get a round. Completely bogus case. Everybody in the jury wanted to order the water a quarter million if I study I sat there and said look I am not gonna go along with this. And I had a guy say to me. You never had problems on being. I say I had I think you're correct I not had back problems. But I'm not an award this woman a quarter million dollars or bogus claim suggests that lead of the EU believe the the company defense power and he hit it in the did the rest that your. JC Penney's rates can afford it went the way they think they corporation netstat you do with a lot of software. Well I don't feel too bad for triple because they will appeals there would be yeah they'll appeal. Because. You know the the and that's what happens rate it and what they'll be behind the scenes negotiations. With her attorney by the way working on contingency. Right he's right turn he's gonna get 4050% of what just settle for the effects of the attorneys gonna say well yelling at the six million dollar judgment which were never again it. Or we can take 200000 bucks and I get my 80000. Could they give her the one point 97 million for loss of wages that tackle high number for once and I can give her awesome I know. I don't know where to 325. Years old I mean I I don't know how long this ticket just to go to appeal. We'll take two years. So they're not gonna date date date trust me they're not write any checks coming up will be going to arrange it Thomas from. Seeking alpha for conversation about two stocks grab a pencil paper stock tock is up next on the financial extra. To vote on our daily poll question had financial exchange showed John come one you're mayor buyer of the media player and watch the show while you work. This case the financial exchange radio network. As we age the state claiming an asset protection become a Paramount importance to a happy and successful lifestyle many to go through this process think about transferring their home to their children to protected from the nursing home if you're not careful a nursing home stay can judge your financial wellbeing and transferring your property isn't always the best solution because you're looking at huge capital gains taxes and home is sold the do you find yourself in a similar position you need time let's keys brand new guide the risks and rewards of real estate ownership a senior partner with Cushing and Dolan and host of the legal exchange radio show Todd will break it down for you piece by piece and in turn will help you avoid probate and unnecessary taxes are better ways to own real estate. And this guy can help you understand how to protect what is arguably your most valuable assets call today for your free guide at 8668485699. That's 8668485699. Don't put your home at risk to get away from your children's creditors spent keep it safe from the nursing home call 8668485699. Or log on to legal exchange showed dot com. I this is very Armstrong and if you're getting ready for retirement you probably have at least some of your portfolio invested in and higher rate were raw fiery third differences between two both types of accounts are popular but there's an important change to the rock fiery now that president Trump's tax reform bill has passed Roth conversions are now permanent so if you attempt to convert a traditional diary to a Roth a higher rate after January 1 of 2018 that change cannot be gunned down if you have a Roth diary or worth thinking about converting to one find out how the elimination of this tax friendly provision can affect you call now for my free guide about Roth conversions the number is 803934001. That's 803934001. Or you can download it right now at Armstrong advisory dot com. Securities offered to securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated are are strong here and I'm joined. Like Todd let's keep from the law firm crushing in dole and we're talking about something that sounds pretty basic but how should you all your real state. Todd if you're real estate is in a nominee realty trust. Is that going to be protected from the nursing home and also will it avoid probate when you die out most miss understood. Trust I think in the trust world there's not even trust the Clinton nominee relationship nominee realizes trust I know but it's not. What I mean by that is. When you put your property into a nominee realty trust folks please go look at who the schedule beneficiaries are that you list to separate piece of paper attached if it's the children and you gave way to the children you don't even know anymore you don't realize you gave it away because it takes effect immediately not your death. Which is the difference and many people think that that doesn't take effect until your death. More importantly if it's. If it was like my wife and I in the schedule beneficiaries as my wife and yeah well that we didn't wondering what's right back in my name and my wife's name so to your lighting and point it would even aboard so why is it being done so. Because a lot of times people like auto maybe real estate attorney and anything can help the trust and throat in a realty trust. We used realty trust it's just important. That the schedule of beneficiaries. Is another state planning trust revolt cobol or reap or a girl correct there not a person not your kids not yourself. Please look that up if you got one of these. You know it sounds pretty basic how ocean you'll own your real state but he gets complex as you get older call Cushing handle and and receive their brand new guide. For the different types of real estate ownership the phone number is 866. 8485699. That's 8668485699. You can download the guide right now by going to legal exchange showed dot com that's legal exchange showed dot com or call toll free 8668485699. If part of the financial exchange in an instant. By texting us and 63566. Starter to extra keyword Barry and become a member of our brand new textbooks tell us what you think 24/7. Break here on the financial exchange radio network. Time for stock stock now this John movie entry level of new homes and gaming products for casinos and lotteries. Today's stock talk raunchy Thomas from a seeking alpha joins us. Run cheap and LG ally homes focuses on entry level homes now we've got rising rates late cycle of decreased mortgage deduction. Your thoughts and LG ally. I down not thanks for having me on your show. Yet as you hold it is going home builder. And you're right era and that the just slowing housing market that decreased mortgage deduction and rising mortgage rates. That yet but this company is going to go running and revenue Bible than 20% this yet. I hatred Italy and I'm learning. But I think there's definitely good value here. It is the bull case here that the United States needs a much larger stock of entry level homes and thus the need. Yes definitely. Most home builders are focusing on higher and called. Because it that everybody has. And besides I've given decreased regulatory cost. If they spent to build big a hole. But the the huge market entry level that essentially what this company's target in the red in the neighborhood that the ability called. I'm additional rent how much cheaper there than the long run to or you hold. And that they attract. A number of buyers due to hold their boat the average cost of their home there's only 225000. Dollars. Not bad LG ally Holmes simple LG IH the other stocky happier. You Scientific Games now they sell gaining products to casinos and lotteries. Up has a lot of debt is this worth rolling the dice on. Yet I think it it's something you can bet against actually. Had that the company that's got a big boost yesterday did the Supreme Court saying that it could all post sports betting. And they all response system. However the company has more than eight billion of debt. You know orbited let them all that it market cap. It done a good job of refinancing this debt at lower interest rates over the last few years. But now interest that they're going up it can't do that anymore. It's barely good debate even bit you know. And maybe I'm gonna be spent the shed next you know there are revenues increased. I've of this doctrine that close to sixty dollar and you know I just don't get why that app that's. My. Might not be a good that it that press. And I wonder to illegal sports gambling I wonder if it wasn't nice feature for casinos. I want to create more couch potatoes who decide not to go to the casino to stay at home than in games. Yet at bat deputy possible. It it remains to be seeing what all the state. Going to be on mine. All betting good at sports betting market. It's possible they could all on line about it ought to look something it could also there that it can be awkward or Indian casinos. It is possible the federal government might have been with a view at all restricting how people in how they bet. So I. A lot of unknowns. Good point but probably of one to avoid based on your advice raji Thomas from seeking alpha. Thank you very much for joining us on Scientific Games and LG are homes Tucker got breaking news. It's Carolina Panthers being purchased by David tapper for 2.2. Handle. I saw that earlier. Anyway thank you tell me Infiniti Q yeah we're waiting for the AP to confirm at Masada on the twister. 2.2. You know with the gambling deal. Then it came down yesterday from the Supreme Court that's a bargain you know I wonder they had some last minute discussions on the price tag seriously I think that might have added added over the that the Preston weren't looking for six billion after a gunman. The bills sold for one point four billion. Yeah I remember in the regular family but also the bills that position or anything you bought looks like a bargain. And it and in the big sports professional sports teams the values of Ghana the some people are speculating. That the value me double I think that's silly but I I do that's an owner by the way he said. I don't Madison square garden and they on the the knicks and the Rangers and some of the minor league teams there were six bucks yesterday to 260 dollars a share but that's not know the if you wish it was Canada oh yeah. Well doubles pretty good when you consider the markets down today Dow's down 188 dollars. Good news is boils down eighteen cents a barrel at seventy dollars and seventy cents I cheap oil is very Armstrong John Mooney and talk herself. From the financial exchange we'll be right back. With more and it cost of marijuana. It's not too late to get a great grade and home mortgage leader bank specializes in a wide variety of purchase and refinance loans that some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call lead 776917900. That's 8776917900. Or visit leader banks dot com member FDIC's equal housing lender and MLS number 449250. Subject to credit approval leader bank. A step ahead if you have a Roth IRA for personal investments here's something you need to know under the new tax reform bill Roth conversions are now permanent Colby Armstrong advisory group right now and get their free guide about Roth conversions the number is 803934001. That's 803934001. Or you can download it right now at Armstrong advisory dot com securities are for securities America incorporated member Finneran said PC and advisory services are produced series America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Are you thinking about transferring your home to your children are protected from the nursing home did you know that if you do you put it at risk for your children's creditors including future divorces do you really want to write a check to your former son or daughter in law just to buy back your own home this is Todd let's can I want you to know that not only does transferring the property put your home at risk but it can also create a huge capital gains tax when they sell it right now the federal capital gains tax can be as high as 23 point 8% and that's an addition to your state income tax there better ways to own your real estate that can protected from the nursing home keep it away from your children's creditors avoid probate and not cause unnecessary taxes a got a brand new guide to real estate ownership out this month this free guide we'll show you the best way to own different types of realistic call now for your free copy at 8668485699. Or download your immediately by visiting legally exchange showed dot com don't put your home at risk 8668485699. Or log onto legal exchange showed dot com. If you're landlords looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks mostly in the reduce local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank required does he ran technology Tillman McCall does he ran team at 781 at 6418691. That 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 7816418691781641. A lot of people set up Roth IRAs win they are working there often contributing to them on an annual basis. But the Roth conversions a little bit of a mystery for some folks are Mike what are we talking about when we talk about. Roth IRA conversion yes so unlike the traditional 401K or IRA where you receive a tax deduction for putting money into an IRA. The Roth IRA you put regular dollars in you don't receive induction but any of the growth is completely tax free number of advantages there there's no required and distribution and can be uses are really good source of tax free income later in retirement. When you convert in higher to a Roth IRA which are doing is you're taking money. Out of that traditional account. Putting it into the rock paying the taxes up front. In order should never pay the taxes on the growth down. So this is a case where you actually voluntarily decide to pay the tax usually with the idea that you're going to be in a lower tax Prater rather rather a higher tax rate later on. And so this gives the ability to not pay taxes higher rate later. Absolutely correct so oftentimes people do it in a year which there and lower tax bracket intentionally. But you'd be very careful about when you do it. Folks Roth conversions they can be a little bit Dicey just trying to navigate to different tax brackets and so forth. And so are strong advisory group has put together. A great free guide to give you all the info you need on the raw diary conversions. It's available right now at our strong advisory dot com. And it doesn't cost anything to get it once again the only way that you can get this guy is by don't Armstrong advisory dot com. And you can get the guide titled an important update on Roth conversions for free. At that address Armstrong advisory dot com. Securities offered to securities America incorporated members Jenrette SAP C and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Precious metals are Smart meaningful investment one ounce and 110 down silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader back a step ahead. I this is very Armstrong and if you're getting ready for retirement you probably have at least some of your portfolio invested in an inquiry or Roth fiery third differences between these two both types of accounts are popular but there's an important change to the raw fiery now that president Trump's tax reform bill has passed Roth conversions are now permanent so if you attempt to convert a traditional diary to a Roth a higher rate after January 1 of 2018 that change cannot be and done if you have a Roth irate or worth thinking about converting to one find out how the elimination of this tax friendly provision can affect you call now for my free guide about Roth conversions the number is 803934001. That's 803934. Zeros or one or you can download it right now at Armstrong advisory dot com. Securities offered to securities America incorporated members and SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated time for bank the pays you with liter maximum award accounts can 1% cash back with debit purchases and an extra 10% back when you use your card and featured businesses to qualify for these and other awards using statements direct deposit 1000 dollars and make a debit transactions each month to learn more call 8776917. To 900 or leader bank dot com minimum to open and current annual percentage yield ten dollars mass residents only reduce subject to change without member FTSE bank. A step ahead hi this is very Armstrong and if you're a landlord or property manager I'm sure you've heard me talk about Z rent leader banks tremendous on line rent collection program I'm excited to tell you now about their brand new product called Z deposit this is another free program which streamline the opening of tenant security deposit accounts three totally digital experience with C deposit landlords can open an account online invite tenants to entered their information and manage all their security deposits Z deposit also automate many of the compliance headaches for landlords such as generating account disclosure forms and will even send out annual interest payments directly to Tenet's called the Z deposit team to get started at 7816418691. That's 7816418691. Or visit them online at C deposit dot net member FDIC leader bank a step ahead. This is the financial exchange with the very Armstrong and chunks of you're exclusive look at business and financial news affecting your day you're sick leave your world. And stay in for. Depend on today about an economic and market trends plus get breaking business news every day. And now the financial exchange with the very Armstrong and chuck Exxon. You know we are what 4550. Days away from. Legal marijuana being available for sale in Massachusetts and I think a lot of people throughout New England. Wanna know how much it's gonna cost we have the answer that question cross going to be talking how about how you can buy stock in the campus company. And in the third story we're gonna have. Is to do with auto payments here's tradition little bit of trouble in the auto business will we'll get into but let's start off with marijuana. You know John. As a lot of people don't know is we leave you haven't had legal marijuana. In new in new anywhere in New England right and now you've got two states that are coming online book mean and man. To choose it's coming on line with the sale of legal campus. Now it's it's really hard to project exactly what this is going to be in terms of pricing. But there seems to be an indication based on previous experience that the amount of supplies that comes on. Will help determine the price which shows no common sense you know economics 11 great eggs examples of that in Colorado. Wholesale Candace has actually dropped 35%. In price in three years. Import I think the number one reason for that is it's available everywhere and get it out there into a whole lot of stores it's easily available the price will drop that's based economics. In Oregon they're saying pot shops selling grams of wheat for less than record last a craft Beers it's it's at that how to do it across the craft beer because of the Caribbean it's like if you're going out yeah it's truly a dime box like so Graham how much is a gram of weakness that I can join the nerves. I think it's a little more than drawing I think but there's not a lot. Yet bottom line is the price has come down and also interesting anecdote about the pricing of wheat and other products in places where. We've just been legalized. The sale of beer has dropped 6% yes I saw what which is interesting but in terms of Massachusetts they're saying it's very hard to say. What the impact will be on pricing but. The rollout is expected to be slow it's not going to be a massive rollout where you're gonna have it available on every street corner obviously. As a result they expect the prices are not gonna drop that much right away and you buy it car according to this article you by by the 18. And now it's right and it looks like it's gonna cost somewhere between. Initially sixty to seventy dollars. For 18 of an ounce and it'll be mean at that price for any were two year. Before the prices start come down the challenge I think you're gonna faces. The street price is less than. Meaning this so you can go into a dispensary. In buy it legally for seventy dollars or you can go to. I don't know I don't know where you buy it on the street but assuming there's somebody you walked on the street and invite candidates from you don't get the bike for forty bucks. Ironically the underground market is gonna. A positive impact on prices go because there is a supply demand issue and the underground market will likely put pricing pressure. On on the ability of people selling illegally and to be able to get that price so I think but I think the key thing is. Volumes yet we'll risk associated with that like it here yeah I'll along that it. I I don't know what your peer group visited with the conversations have been among my peer group I've had a lot of people come to me and say. You know it Pete people that live in other states. You know Kent and I buy it it will what are the ramifications if I bring it across state lines. The my peer group seems to be intrigued. By the opportunity to purchase Canada's legal. No question about the evidence she said then yes you drive home to a place where it is illegal. You know. What are the what are the rules in effect that I they might in my impression news the local cops anywhere in New England could careless. The local cops into in the wars across the border goes somewhere else to. But I own Kansas yeah that's pretty good drive to Kansas still owned or you're gonna have to isn't. Drive to Kansas even not that way if I just think it's it's. I think a lot of the consumers. Of the candidates that come on line will be people of our generation. That safety. You know I haven't smoked in in thirty years and why because I didn't wanna get arrested for doing something illegal race could be a danger my job. But I wouldn't mind an off. But it but in terms of pricing it is very clear the Massachusetts residents are gonna have to look likely wait a little bit of time before the price action comes down much below. As you said they boomers don't care. You know it they'll you know they'll they'll buy it in just to naught because they don't have somebody goes to lead. Yeah right if I have a guy in the street they don't have the connections and apparently they were eighteen years and they're gonna go to their kids and ask them. I junior colleges and really play Chicago area marketability here you're 28 year old son and say. G you know. Bob moment I want by somebody you know work. It's just not a very comfortable up or really even if you could you wouldn't do right now. So I don't see how we invest in candidates stock if we think this is gonna be trend in if we think. That there's a lot of money being need. In marijuana going for and I do actually you know there's an awful lot of money being made by stock do that airlines whoever can charm. In what sense the horrors like I imagine if you know at the time when. The airplane was invented yet. And I said Barry I'm gonna give you on the whispering you air give you a of a fact. That is that there will be airplanes everywhere and will be a preferred mode of transportation. For millions of people in every country in the world. If you do that the next fifty years would have made enough if I told you were in the car was invented buried this is going to be huge. You think people enjoyed taking stage coaches. And riding horses. Cars are here to stay there were like 300 car companies three of them survived. And although what the bankruptcy ever leave except for fort so that. Buyer beware. Is is legal we hear a state yup it is. But there's a lot of bogus read companies out there is one of them that that that seems legit that's doing really is Canadian company. Canopy growth. And it's going to be listed on the New York Stock Exchange and I think that gives a great legitimate is that I think that legitimizes. The company and that the stock is up eleven point 6%. In the last three months trades over the counter right now there's a number of these trade over the counter. And several of them were highly questionable their highly leveraged they have bad balance sheets their sales numbers are all over the place. But again we did W. Because of a great death symbol WE EED. The stock is up eleven point 6% vs GS PO one. It's gonna be traded on the NYSE which is actually a seminal moment for. Legal matter will be the candidates company's animal where they'll all private so private equity and hedge fund. Yeah a lot of them are but they're coming public and the reason why they're investing it is they wanna take it public they do evident. Borrowers in the United States are defaulting on sub prime auto loans at a higher rate John. In any time during the financial crisis so you think about. We're talking about people who walked in to typically used car auto law brings and eight by. Three year old five year old car and they've got bad credit you know these are people with 5862610. Credit scores. In their default on these loans at a more rapid rate than they did in 2008 you you always ask what out there in the economy could surge. This has to be warning sign number one there's a lot of great news of the economy right now. A lot of numbers that are reason for encouragement but if there is in there are a lot of indications that we're in some sort of economic bull plot. Point if there's one parallel the 2008 he has this is this is it but if it is it is it John is the economy weak or banks bill. You know it. Yeah because a lot of banks you look at two in particular rate Wells Fargo and another when that Google but this doesn't happen when the economy's weak bury this happens we economy's booming. And we say. Reebok I know I yeah this is the sort things where if this doesn't happen in bad times in bad times. Companies don't write bad loans they're very very careful and you worry that when you have nine to ten years of recovery were already in the third longest recovery in the history of the country. This is the late inning warning sign this is telling you that lenders are getting lax used car prices coming down. Last week we reported that supplies rose one in the inflation data they came out last week. One of the things it dragged down inflation was the fact used car prices were on the decline. And we singer now five point 8% default rate for sub prime auto loans that is horrible that is worse than anything we saw during the financial crisis more than one at a point. That's a huge jump and normally those are that are going back and those are great ways for banks to make a lot of money if you know you're doing. You you don't make much money off of prime loan rate they ignore the guy has got a seventy credit score. He's you know and make much money right the guy has got 610 credit score if you know how to manage that well you make a lot of money now could you charge me 18% and this is what happens in rocking economy's you look the other way that we can make that big fat interest rate and it turns on you big tent and I think this may be the reason like you said. Why we have so much supply. All these foreclosed cars. And the market. What do you know about Tyson Foods that's our next topic on the financial exchange it is also the topic of trivia today so bone up on your knowledge. A Tyson. Foods the symbol for is TSN. Trivia up next on the financial exchange. The financial exchanges of live on FaceBook so make sure like your page and watch the guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. Hi this is very Armstrong and if you're a landlord or property manager I'm sure you've heard me talk about Z rent leader banks tremendous on line rent collection program I'm excited to tell you now about their brand new product called Z deposit this is another free program which streamlined the opening of tenant security deposit accounts three totally digital experience with C deposit landlords can open an account online invite tenants to entered their information and manage all their security deposits Z deposit also automate many of the compliance headaches for landlords such as generating account disclosure forms and will even send out annual interest payments directly to Tenet's called the Z deposit team to get started at 7816418691. That's 7816418691. Or visit them online and see deposit dot net member FDIC leader bank a step ahead. Are you thinking about transferring your home to your children or protect it from the nursing home did you know that if you do you put at risk for your children's creditors including future divorces you really wanna write a check to your former son or daughter in law just to buyback your own home hi this is Todd lets you know I want you to know that not only does transferring the property put your home at risk but it can also create a huge capital gains tax when they sell it right now the federal capital gains tax can be as high as 23 point 8% and that's an addition to your state income tax there better ways to own your real estate can protected from the nursing home keep it away from your children's creditors avoid probate and not cause unnecessary taxes a got a brand new guide to real estate ownership out this month this free guide we'll show you the best way to own different types of realistic call now for your free copy at 8668485699. Or download your immediately by visiting legally exchange showed dot com don't put your home at 8668485699. Or log onto legal exchange showed dot com. Hi this is very are and if you're a landlord or property manager I'm sure you've heard me talk about Z rent leader banks tremendous on line rent collection program I'm excited to tell you now about their brand new product called Z deposit this is another free program which streamline the opening of tenant security deposit accounts three totally digital experience with C deposit landlords can open an account online invite tenants to entered their information and manage all their security deposits Z deposit also automate many of the compliance headaches for landlords such as generating account disclosure forms and even send out annual interest payments directly to attendance call the Z deposit team to get started at 78164186. And 91 that's 7816418691. Or visit them online at C deposit. Dot net member FDIC leader bank step ahead hi this is very Armstrong and if you're getting ready for retirement you probably have at least some of your portfolio invested in an IRA or Roth fiery third differences between two both types of accounts are popular but there's an important change to the rock fiery now that president Trump's tax reform bill has passed Roth conversions are now permanent so if you attempt to convert a traditional IRA to a Roth a higher rate after January 1 of 2018 that change cannot be and done if you have a Roth diary or were thinking about converting to one find out how the elimination of this tax friendly provision can affect you call now for my free guide about Roth conversions the number is 803934001. That's 803934001. Or you can download it right now at Armstrong advisory dot com. Securities offered to securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group in the securities America companies are unaffiliated. Join our brand new tax club by texting the word. Mary's to 63566. To send your first and last name and get involved today you're listening to the financial exchange radio network. This segment of the financial changes brought to you by leader banks you're looking to diversify your portfolio. Precious metals are Smart investment. Gold and silver bullion coins are now available. And all leader bank locations call 8776917900. Or log on to leader bank dot com for more information member. FDIC. Tyson Foods received an outperform rating in new coverage at Bernstein will be asking trivia questions about Tyson Foods. Well here's what I can tell you about Tyson Foods. They're headquartered in Springdale Arkansas in the have a 122000. Employees as of September 2017. But our poll question has our trivia question news. In what year did the founding of Tyson Foods take place now you can participate in the poll. By texting us and our dog BOs trivia text line the phone number this number for texting is 63566. First listener with the correct answer will win a fifty dollar gift certificate to the obvious my finger restaurant. 63566. If you have not texted the program before you need to put my first name at the beginning of your text message. One last time in what year did the founding of Tyson Foods take place. All right moving on in terms of our stories a lift. Is now claiming that it has more than 13. Of the US ride sharing market what are you used I don't use these ride services you know I used. My car's driver and no lights but what about if you're going to the airport like you know on a get my mom would drop me off the real. Or goggles lots nearby in pale like 23 dollars today which is like at a discounted deal. I should do that and I definitely should do to go the Utah would use IE was using Gruber in the past but my most recently in my trip you left. Are currently well yes you both of you who recently used list I don't I've used lift for quite some time now for ridiculous reason. GM owns quite a bit of lift the and I own shares of G so my logic is all use the company in which because I couldn't buy shares of Cooper there's no way for me Berkshire's I think that's mark behavior he's well support the companies to invest and honestly you more part of the Euro. That that rice and Netflix and back doors finally get out Yahoo! had some Alibaba. Right that that was my logic as actually one of the things that motivated me to buy shares of General Motors. Very well that now has a 35%. Market share as the president of that's a big number. They claim they're number one in several markets but the doctor tell us where their number one we don't we have a 40% market share or war in several big market. Rapid growth the past eighteen months. Really emerged Hoover had some bad press that he's took advantage clearly clearly clearly the reason they have benefited from many of the negative stories surrounding who we're both from the management the company. Affected drivers feel like you're getting a raw deal that they weren't able to tips or you know still lose in forked. Still losing a lot of money it's it's it's Lou it's a big money loser but they're gaining market share and they're in a position is even more money at the the smoke the more business and get the more you let its. It's kind of like retail you know every everything went into Wal-Mart sells me a pack is it was eight dollars more you order a nervous about is. Both of these companies are if they're wonderful services I use them not as much as people who live in the city and use the regular I'll go to the airport there. It the other dead in a car so I typical took a lift home from the gem like drop off of the gym but I and the car so I took a ride home. That. The the thing that. Concerns me is. The the losing money on every ride you can really do that for so long it was on there for twenty years non they do it for probably ten or 1550. Yours but. EU TV they're dependent the only way these companies survive twenty years. Is if they get rid of the drivers. I can't afford to cynically I agree with you but there's another argument that these these these companies make it's legitimate mr. reason why. Here B&B may be a great investment eventually. That is that there's a huge advantage to scale. You eat if I wanna start my own ride sharing service and now I know use so you'll certainly I know John I trust him. But if you had no one was the chance to competing. And lift are in essentially do locally here and candidates that yes and I would argue there's not room for number three. There's a big advantage to that with their argues if we built the upscale and reputation. And then a different one in the fourth. Most people use one of the two apps most people Tucker's got both on his phone I think I have Bolton Michael though. By default now is left I use them almost X I I do use the active today the last time these two. It in this is something that when you look at this economy and you look at companies like home weight or be in the you look at looper and lift there's a huge advantage to developing. A B national network where you develop trials here let me take Altria. Would have wane O comes out and they're they're generally conceded to be the leader in driver Lewis. WYMO. That's cool. Right what if they come out and they say hey we got this technology. And we are getting into the ride sharing business and whatever lift charges were gonna charge half well the again I race scale. Are you going to be able to do that Ian 350 cities overnight now he gonna do like is going to be gradual yet and therefore I have to employ him but he talked. I know the old drivers but it's gonna be years before they get to a national world. And it also. And you got a driver was vehicle. I trust you to pick me up at 430 in the afternoon in the gym and bring me home. I mean if he does his feelings and chipping is John I would try it right right and and it's one of those things where. You know if I look at the Kosovo with pride that my ride home from the gym was eight bucks right if I looked at the cost of William all right those four bucks guess which one of you're talking about decades from now. It is so long Nguyen went live this technology. We'll be at that point were being rolled out nationally via on that kind of scale at that price easy techies. To get to where you're talking about I I could see you you drive Lewis vehicle before that. Date comes word we are there are several hundred of these driver loose wheel vehicles on the run in Phoenix Arizona. Two day correct the technology is there and their crashing. That's an Asian games are elite let's let's call yeah it is Friday the and of course they get a lot of publicity when you when you have an ax and they're still learning and this is still learning what. They keep what their computers can't pick up human Guinea takes exactly is that subject here. Yeah I mean but but you know if I sunrise to sunset angles to stop what's on the road. People crossing a division so many things but the leaders got to be a hundred point 0%. Effective so it's going to be here. There's the matter time and that's sick that's the big question. Maybe the stock market will crash this year because it can't in good friend of ours wolf partner who's been on the show periodically. Is suggesting. That when you see stock declines like we're seeing in Home Depot today like we're seeing an Amazon today like we're seeing GE today. What they're saying do which wolf this thing is that. Companies are simply getting used as a buying opportunity to buy back their old stock and the reason for that is S&P 500 companies are on track to announce a record 650. Billion dollars in buybacks this year alone. I read it that actually works out to 3% of the entire market. Think about it you get 3% of the market will be bought back and retired and that has an act extra. 3% yet on top of my 41 K contribution and on top of talkers diary contribution. That's an extra 3% 3% plus the dividend work 5% yeah. On that note though the Dow was down hundred points and we're going to explain to you in the next segment why Morgan Stanley thinks can be tough to make money in stocks going for. The financial exchanges alive on FaceBook so make sure to like your page and watched the guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. Are you thinking about transferring your home to your children are protected from the nursing home did you know that if you do you put at risk for your children's creditors including future divorces you really wanna write a check to your former son or daughter in law just to back your own home hi this is Todd I want you to know that not only does transferring the property put your home at risk but it can also create a huge capital gains tax when they sell it right now the federal capital gains tax can be as high as 23 point 8% and that's in addition to your state income tax better ways to own your realistic action protected from the nursing home keep it away from your children's creditors avoid probate and not cause unnecessary taxes a got a brand new guide to real estate ownership out this month this free guide we'll show you the best way to own different types of real strength call now for your free copy at 8668485699. Or download your immediately by visiting legally exchange showed dot com don't put your home at 8668485699. Or log onto legal exchange showed dot com. I this is very Armstrong and if you're getting ready for retirement you probably have at least some of your portfolio invested in an IRA or Roth fiery third differences between two both types of accounts are popular but there's an important change to the raw fiery now that president Trump's tax reform bill has passed Roth conversions are now permanent so if you attempt to convert a traditional higher rate to a Roth a higher rate after January 1 of 2018 that change cannot be and done if you have a Roth diary or worth thinking about converting to one find out how the elimination of this tax friendly provision can affect you call now for my free guide about Roth conversions the number is 803934001. That's 803934001. Or you can download it right now at Armstrong advisory dot com. Bury our structure and I'm joined by Todd let's keep from the law firm Cushing in goal and we're talking about something that sounds pretty basic. But how do you how should you hold your real estate. Todd if you're real estate is in a nominee realty trust. Is that going to be protected from the nursing home and also will it avoid probate when you die. Doubt most miss understood. Trust I think in the trust world it's not even a trust the Clinton nominee he relationship nominee realized distrust I know but it's not. What I mean by that is. When you put your property into a nominee realty trust folks please go look at who the schedule beneficiaries are that you listed to separate piece of paper attached it fits the children and you gave way to the children you don't even know anymore you don't realize you gave it away because it takes effect immediately not your death. What's the difference and many people think that that doesn't take effect till your death. More importantly if that's. If that was like my wife and I and the schedule beneficiaries as my wife and I really enjoy doing what's right back in my name and my wife's name sorties are lighting and point it would even aboard probing so why is it being done so because lots of times people might go to maybe real estate attorney and anything can help the trust in the throat and a realty trust. We use realty trust it's just important that the schedule beneficiaries. Is another state planning trust revolt cobol or read Europe your remarkable correct they're not up person not your kids not yourself. Please look that up if you've got one of these you know it sounds pretty basic how should you'll your real estate but he gets complex as you get older call Cushing handle and and receive their brand new guide. For the different types of real estate ownership the phone number is 866. 8485699. That's 8668485699. You can download the guide right now by going to legal exchange showed dot com that's legal exchange showed dot com or call toll free 8668485699. The financial exchanges all over New England go to financial exchange showed dotcom and search for the station closest to you this is the financial exchange radio network. The founding of Tyson Foods took place in the year 1935. An entrepreneur or named John W Tyson started the company. And Kathleen from Warburg and nailed it. Should get a fifty dollar gift card to dump the the second the financial exchange brought you part by dumping those northern Italian steakhouse W says nine locations throughout the East Coast. With five locations the Boston area including Braintree the South Shore plaza. And opening its first West Coast location and Irvine California this summer. At the obvious you can enjoy seasonal cocktails handmade pastas perfectly corporate beat. These states as well as for seafood with expertly prepared using the finest ingredients obvious it's all about the guest. The last nine years you go back to march of 2009. It is being. Three difficult to lose money in the stock market. Right if it be if all you did was buy an index. Nine years ago you made a fortune. And then if you decided well I think I should buy bonds instead you made a lot of money doing that too and if you sign a new balance ball and he made money amble pretty much everybody won the last nine years. But Gil Morgan Stanley analysts talking about things like decelerating. Growth in the economy. Rising inflation which we talk about every day and tightening policy by the Fed member they say don't buy the Fed will that would say don't fight what's going on right now. It's leaving a lot of people would below consensus twelve month return forecast for most. Risk assets even for some assets that are not risk but I want it and I think Morgan's guy. Right in terms of the end result I think it is going to be difficult to make money in stock over the next ten years but I think they're logic is wrong I think the issue's going to be. Mean street is finally in a position and main street is you mean streak is the worker the worker is now in a position where they can command higher wages if you doubt me. Just look on line. And and and think about the people you know who can't find a job to various small segment. Of the American population today. Very few skilled people. Rate that can't find a job that if if you're if you can communicate. You can walk operate. It ya gonna have much difficulty finding jobs. TV it's gotten to the point John where. Employers are hiring people who've been disabled for twenty years in the because they're so desperate to get people into the workplace. That's the reality today no doubt but looking up ten years do you think that's secular trend or just sick I don't think night it's a secular trend and my logic is. The people like me are going to retire. During the next ten years you're going to most likely retire next tenure of talkers generation right who's thirty years old they're gonna say. It will when he's retiring I want more right if you want me to be an electrician you're gonna have to pay I don't want 42 at 62 now. You want me you wanna diesel mechanic to picture car. That's fine I'm gonna fix it but it's gonna question normally US and detect your lawn you won a nurse to come by in and change your bed enemy day. Costs. Wages here is going to be. I I think being strictly the worker for the first time since 1999. Has the upper hand on the employer. What you said is true. But it was also threw a few years ago is also true two years I don't know wasn't future if you tell you think this is the suddenly happened this year. Look at the use six have you looked at that reason it's come down its its plummeting. What is still pose this to wheel over a seven point five it's. And the U six is the that that's that I've always told us it's always been in the true level of unemployment while they went back. Use six has been coming down in terms of the rate. And I I'd just my observation. And the numbers the you look at the jolt report came out to. For the first time there are more job openings in America. Then there are people to fill those jobs and that's a that's another issue she talked about and we have an anti immigration policy rightly you have rifled it would not we're not bringing in droves of immigrants to fill those jobs as we've done. For the previous 200 years in the real time error action what you said as long term correct longer term. But what I would argue is. The thing that at the margin makes the difference is the 3% economy that's what's creating a lot of dislocations. We get it recession in 20/20 which is my official forecast now. 20/20 20/20 based on. Based on the fact that the longest recovery in history. Would take is to 2019. IC this becomes the longest recovery history and not beyond that. And I say that we get some changes in a lot of policies that happened in terms of political changes that were happening that I think could cause a lot of dislocations. I think we're gonna have increasing trade friction. Not trade wars but increasing trade friction. And I think we are a lot higher interest rates that's gonna bring on a mild recession. And if there's something to cures all the issues you talked about yeah. It's a recession from. Again that's not be neck you know I get a year you're right in need every session I just think. It's no longer term you're saying there's some secular Turkey so many old people write the country is old. And young workers young skilled workers in particular and if you army skills you've you've never rated if you are just it if you're. A waste it then you're even make money in 1999 he. It but if you have a skill you have your skill right if you're good it's up. You are gonna get paid that's just. That's what I forecast and I agree that it did theirs and theirs are huge dislocation here between the opportunities we have. And the lack of skills among workers to to do that and hopefully we can bridge that the next ten years. Yesterday the Supreme Court ruled. That sports betting across the country basically the Supreme Court ruled in favor state. Correct they basically said that the Fed cannot dictate in this case. The rules so it's going it's now in the hands of the states. Everyone wants a piece this action and you guys talked about this yesterday but the issue right now is it's going back to the states. And in places like Massachusetts. And it could take a lot longer than it takes in places like Connecticut where they appear ready to go ahead and roll out. Some sort of plan official rules and have to be determined. You know one of the states get what they were the ads yet what municipalities yet. What about the book available all these states of Connecticut's going to be winners yes let's assume they are the first read articles published yet. Who lose. The bookie. The illegal bookie on the underworld clearly gets hurt because right now the underworld is getting all of I don't understand. Underworld gambling like when when I was a kid in college football sheets that's on the world. And guys would walk around camp I'd be to put two dollars on an you know talk about it and I'm doubting him. Nobody does it felt she'd history yeah you all right give your you give your body to box with it and getting in you never get back aboard he gave your body forty euros. And then your body handed out you won drivers and one to me and if we pick ten games of two box we got like 25 dollars right yet that's actually the world. Well that will be taken away for. I they're gonna lose a lot of money that's the good news you know that the Whitey Bulger crowd when he. It is going to be a troubled Zagreb has business all themselves. And now the states and taxes. It legitimize it. The line is it's a bad debt that's talking the talk about this before usually it's like legal marijuana lately you're legalize something you know was really but they get I bet that's what. I look at. Look at an excellent in and I looked at them or one thing financially said. And it makes cents. But your intro or are we encouraging by this wearing her behavior we're kind of encouraging and it's a really horrible deal give an example tonight Celtics cavs games and even game selfish or one point favorite. The all out in this game are Celtics minus one tan. Cubs minus 110 if you would sovereign debt twenty bucks each you like the capsule at the Celtics Celtics wouldn't you pay me twenty bucks right. In this case you're betting eleven dollars to win ten new whoever wins gets the ten. Both of us pay eleven OK let's let this 22 you're paying out twenty. That's a good business site now. Obsolete again this is gonna put all of this is gonna put a lot of people bankruptcy this is going to. Result in millions of people being separated from their money and like I totally agree talker that a lot of people gamble now. But will be saying this is cool. And we want you to go on to your television screen and say yep placed ten dollars on my cable bill on this Celtics game tonight yeah it's gonna expand. And and now what about all the lines were given their husbands just grief and overdraft kings. On track things as gamble. Who that's not it that's legitimize you know I can withdraw from drug mines and get it might have banking account and I understand but yeah but the point is cause a lot of problems at all. The whose fault is that as a draft things fall and essays trappings fault it just it causes behavior gambling is not good for society. The idea of restricting. Well we should do us that bull. I don't know it's I just if if you're gonna gamble if you're gonna smoke we interview you know those things are in some states legal. Then they're gonna find a way to do it but if I got. Always the mechanics of the promise at the margin of fight churn on ESPN and like last night does this point there's an odds thing rays vs royals game on TV yeah. IC I can bet twenty bucks to make it twenty bucks because you know there's nothing else to do right it's not like there's a ball will wind coming out of my television I mean there's literally the opportunity we low twenty blocks a stupid game. If you're watching news yeah put. I'm listening or watching a rerun of the financial exchange on YouTube as exactly as we. Age estate planning and asset protection plan to become a Paramount importance to maintaining a happy and successful lifestyle many families that go through this process. Think about transferring their home to their children to protect it from the nursing home. If you're not careful he nursing home stay can gut your financial well being. And transferring property isn't always the best solution because you're looking huge capital gains taxes when the home is sold. If you find yourself in a similar position in need Todd lets these brand new guide the risks and rewards of real estate ownership. He senior partner with Cushing and Dolan and the host of the legal exchange radio show. Todd will break it down for you piece by piece and in turn will help you avoid probate and unnecessary taxes. There are better ways to overrule state in this guide can help you understand how to protect what is arguably. Your most valuable asset. Paul today for your free guide at 8668485699. That's 8668 parade 5699. Don't put your home at risk. Keep it away from your children's creditors and keep it safe. From the nursing home 8668485699. Or log on to legal exchange show dot com. Let's talk about Seattle why are we talking about Seattle. While the city of Seattle approved a new tax on businesses like Amazon and Starbucks in an effort to fight. Homelessness this is really interesting they're the proposed tax is a new tax on big business yes. Really exclusively only affects about 3%. Of the employers in the city. Which is spot 585 businesses in the big city like Seattle. It's a 26 cent per I'll work tax for each employee name. At these large companies think about it's probably hitting Amazon which is a big employer in Seattle the hardest. That's 540. Dollars a year. For each full time employee. And the money will go to deal with the homelessness homelessness issue in Seattle this is going to be interesting it's it an interesting social experiment to see. How the companies respond is that. They does it out on all of a sudden say. Okay we're gonna go from 60000 employees to around 40000 in Seattle. I I don't know that they do maybe it's India tough once you have them there and their entrenched but how do you take your employees and say. Well we're moving you to Phoenix Arizona. Tough tough sell you immediately put a company like Amazon on the defensive. I'm sure they try to be good neighbors I'm sure they do a lot for the community. I'm sure they do want to help. The homeless population. But now you're basically sticking it Imus saying 540 bucks a year for every worker. We're gonna make you pay it. You know what's the what's the answer going to be it's it did not look good if they say well. We don't wanna help the homeless were going. So it's not it's a rather cynical move I think on the part of Seattle and certainly when we return or talk about why Tesla. Is losing much of their top talent that is next on the financial exchange. Barry Armstrong. Chunks on breaking business news every day right here on the financial exchange radio network. Are you thinking about transferring your home to your children or protect it from the nursing home did you know that if you do you put at risk for your children's creditors including future divorces you really wanna write a check to your former son or daughter in law just to buy back your own home hi this is Todd lucky and I want you to know that not only does transferring the property put your home at risk but it can also create a huge capital gains tax when they sell it right now the federal capital gains tax can be as high as 23 point 8% and that's in addition to your state income tax better ways to own your realistic can protected from the nursing home keep it away from your children's creditors avoid probate and not cause unnecessary taxes a got a brand new guide to real estate ownership out this month this free guide we'll show you the best way to own different types of released a call now for your free copy at 8668485699. Or download your immediately by visiting legally exchange showed dot com don't put your home at risk 8668485699. Or log onto legal exchange showed dot com. If you're landlord looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called Z rent it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks most landlords used local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank acquired does he ran technology Tillman McCall does he ran team at 7816418691. That 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot net. Hi this is very Armstrong and if you're getting ready for retirement you probably have at least some of your portfolio invested in an IRA or Roth fiery third differences between two both types of accounts are popular but there's an important change to the raw fiery now that president Trump's tax reform bill has passed Roth conversions are now permanent so if you attempt to convert a traditional higher rate to a Roth a higher rate after January 1 of 2018 that change cannot be and done if you have a Roth fiery or were thinking about converting to one find out how the elimination of this tax friendly provision can affect you call now for my free guide about Roth conversions the number is 803934001. That's 803934001. Or you can download it right now at Armstrong advisory dot com. Security suffered through securities America team members finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated. We wanna hear from you. Thanks Stewart Barry to 63566. And let us know what you think about the stories we discuss your team to the financial exchange radio network. Our poll question today was were you forced to retire earlier than planned. Surprisingly John only 42% of our listeners were forced to retire means you were edged out of your business. In my experience I don't know but years but in my experience the vast majority of my peers and up. And pushed out the do war. You know late fifties by observation in late fifties early sixties a lot of older workers are put out to pasture. And it's often times anywhere from 357. Even ten years earlier than they might have liked. In our case only 42% in that that's because we have irreplaceable workers among our audience yes they are relatively irreplaceable compared to the national average for bought. Even for them it really comes down to compensation package. As you get older you get your cost of living raises which add up and compound over the years which is wonderful for you pick up. And increasing burden for your employer relative to what they can get some Berkeley she went in on top of that if you're older you simply culture employer or more for health care. Which is the tape warm. Hitting our economy as we heard before it's now 18% over economy. It's draining companies and it's it's a big big issue is unsustainable it's unsustainable and it's. On affordable for people over fifty and employers say they don't discriminate based on health care but I can tell you I've been in meetings. With large publicly traded companies. And they never it's never in the meeting notes it's never. Out right it's discussed but they will show you when you're running your division within a corporation. They'll say to you. Well if you have workers in your department that are over 55. This is what we charge Alec it is an expense so use the division managers and yourself. What can I do to get rid of that can can eliminate that job negative 62 year old guy he's pretty good worker but I can probably replace them with 38 Euro. That two thirds the wage and the health care costs will be half so we know that's happening and we you know we get the health care thing under control. At the margin of capital little bit less and you'll still have discrimination because that pursuant to make more money but health care is definitely a tipping point. Tesla shares were down 3% yesterday John they're down another 3.3 percent today. I you know this is one of those interest in companies. I love the product but they don't seem to be able to execute. We've got potentially cash crunch coming up but now they got talent leaving and the type of talent that leads in in this company. We I'd be nervous suppose the CEO our big investor and I'm not. I'd be nervous about this. These are people who know what's going on they know the finances they know the outlook they've they know what's actually happening ran on the playing field. Ten senior level employees have left since November at least in their losing top talent at a time when production goals are question. Regulators are focusing big time now want crashes involving an electric vehicles. Most importantly the cat the company's cash is dwindling. And they keep saying we don't leave any money and then we keep hearing about these capital raises that are planned but these debt issues are they're talking about the talking about raising a stock. There's a lot of concern right now around Tesla you know it's it's it's a fascinating product people laugh it. The vehicle itself is actually profitable but the process of making X amount at X price in doing it competitively. Is a really court thing to do with it and when your senior management leads I think that speaks volumes. Because there in those meetings now some of them. Have come out and said he working for you on mosque is no date the beach blow as we see right enemy the B they have. And you know like him or hate him. Driven he's driven but I think you also have to credit him with being highly intelligent IE eight is really beyond that yes. He's no question but he's hard to work where it's not always does Ernie always easy guys to work for in there are always not always great businessmen either let's extra. The Dow is down 181 points as I mentioned earlier. Price of crude oil down eighteen cents a barrel at seventy dollars and seventy cents I'd love to see crude at sixty but it's nowhere near that right now. John Moody and very Armstrong signing off from the financial exchange we'll see you tomorrow right here your favorite.
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