What's Up On Wall Street - Russell Pearlman, Smart Money
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Tami Luhby, CNN MoneyTami Luhby, CNN Money
out there. All my family is out and Antarctica there in -- hockey players all these Bruins players that you love -- -- where you think they're from either from you figure from Massachusetts. What -- -- the American players on the crossed amber is here now so why. Why did you leave. My dad a transfer okay Kampman you'd still be their -- guys that are not facts you'd go back tomorrow -- if you. The problem is I'm not a good enough occupier he it to be. Saskatchewan. Produces more hockey players per capita than any other place in the world to -- a -- paid attention the past couple weeks. But supposedly the number one hockey player in the world it turns out. He's not that Iraqi player you know he is that it is just that the other Canadian playing against -- is a better player. -- birdie is a better player than Sidney Crosby . When he doing and you look at the game of hockey -- get ready looks at the offensive side of hockey chemicals that yet now it's a two -- game you gotta be of the play defense Sidney Crosby can't play defense he sucks and the defense he's he's he's a wimp. And he doesn't play. That's an uncle Chris Chelios . Give me a belt made him but he running each. Is. Like rich rich this is embarrassing to to stop that knowing that Jack and Roenick now. Wage on the island -- got your -- -- these. Players I sound yet I've actually her -- The hall of famers I mean it the best like Bobby or he's from Canada and -- now he's from Saskatchewan. Wayne Gretzky he's from -- In isolating it like that's your national sport that you didn't see any baseball players made it in the -
Casey Ross, Boston Globe, on PriceWaterHouseCooper's
Casey Ross, Boston Globe, on PriceWaterHouseCooper's
right now are taking a look at the waterfront -- the new real estate option. Then moving to a different officers bank put you know they want to establish -- -- exciting new abandoned building and so. The seaports and interest and opportunity that drawing a lot of companies trying to. Why I think I like the financial district to that what's the big attraction of the seaport area you name it may be a mess it's. Poll. It's cheap and it's that's the main thing is that you know right up there looking around at look at okay -- and I moved to and another office building downtown and I stay put. You know that the currently rate or should I mean he moved to the seaport there's a -
Shawn Kravetz, Esplanade Capital
Shawn Kravetz, Esplanade Capital
been and then. We'd like to buy the whole company and then negotiated transaction . Do you own any shares in the company now. We do we heard the second largest outside shareholder. The family owns roughly 90%. Of this company. DE Shaw. Very very large hedge fund in New York City is the largest outside shareholder and we are number two. Why panel why they're why they hesitating to solitude they must feel that the shares are worth Maurizio I think I can conclude. Well. I don't wanna speak for them but I suspect you're right on the money. They had no idea that and they know there's a lot of value there. And I guess they're confident that someday they will get that we would like to help shareholders get that values sooner rather than later. Because. We thought the assets -- well. You made the statement that you feel the -
What's Up On Wall Street - Andy Cinko, Bloomberg News
What's Up On Wall Street - Andy Cinko, Bloomberg News
we asked a question of the day which had to do with Social Security And collect your Social Security for retirement age or are you going to collect literally. 73%. Of Americans collect their Social Security early in the vast majority of cases I think that's a mistake but people do it for any reasons. When I came up with June and I think is a good idea for us to talk about is you know we're sitting here and and and acting all high and mighty. As it relates to this discussion about Social Security in the back the matter is we have access to tremendous resources on this topic whether the courts are now ski. Who worked for the departments of security for 37 years or whether it's Chris Farrell was a reporter for Bloomberg we have access to a lot of data. What I would like to do is make this information on Social Security Tips to maximizing -- worst Social Security benefits I'd like to make it available to our listening. I think it's they I think it's important. You know people refer to it I think some 97 -- as areas of securities of Ponzi scheme this. I disagree with you respectfully -- disagree with you but you know -- more importantly. Please educate yourself on Social Security Call this phone number it's 508591. 5444. Asked for the guide about Social Security tell the I would pay -- wanna learn more about Social Security Barry seems to know a lot you know why I read a -- I studied this stuff every day it's what I do for a living. 5085915444. Is the number you should call. Call them. Tell -- you're listening to the financial exchange and you want to learn more about how he can maximize your benefits. Out of Social Security I think you'll be glad you made the call I know I was glad when I read the report on Social Security Maybe a more informed consumer. 5085915444. Up next Sean Kravitz he's the president of a hedge fund. That has been trying for
Automatically Generated Transcript (may not be 100% accurate)
Well the markets not getting any healthier -- I see the Dow down 52 points good news on oil. Down a dollar seven apparel 83 dollars and 82 cent to -- -- enough from my perspective. Now absolutely not Dow down 48 S&P 500 down five NASDAQ down ten points. As he said -- 8380 to an oil they're down ten -- US treasury down at one point 637. Gold is up five dollars eighty cents that's no surprise ST this team teaching you know these headlines you're saying that those retail sales that dip was driven by lower gas stations ending -- on two things one gas declined in price more than anticipated. And two people are driving us so it in and people have changed the types of cars not you but most people have. Decided to drive more fuel efficient vehicles so -- what's happening and I talked of people -- the clients and friends. The say yep I used to drive halftime and -- I'm driving the smaller truck now. Or used to drive -- Chevy and Allen drive and a real fuel efficient. Vehicle that gets you know 4050 miles per gallon people are stretching their dollars because that's -- that's something if you drive a lot you can save yourself a lot of money. By buying fuel efficient vehicle like a Toyota coral for ads are -- there inexpensive. The great mileage that's what people are doing -- of their and that impacts the retail sells them I also learned actually taught Feinberg you know that's on morning Tony good drive even I didn't know that I've made it because I'm a girl thing so let my way. -- even have to dried even it is chairwoman. Because I mean if you're Golan sixty a to stayed on sixty you can just fine -- you know he's got it. Yeah I didn't realize that -- I'd -- doing that lately got a notice that saved. Just like the action out on the road again. Feel like these -- -- our our our first guest speaking of action is Russell Pearlman from Smart money magazine Russell how are things. Great thanks as always for for having me over nice Wednesday morning here. I wanted to talk deal Wall Street Journal's been providing us with coverage about US air in their desire to. Acquire American Airlines is this thing gonna happen who would -- be read. Well. -- the back up here AMR which its parent of American Airlines is is currently in bankruptcy. Bankruptcy protection right now one of the numerous airlines over the past several decades to come through bankruptcy. And US air metal that they might be able picked up. Americans. On the cheap. And Islam. And they've been trying to to. Backing of of unions. And because of the US there's been able to win over the unions to say we should try to typical for Americans and now they're approaching. Other people who might be interest in this and it doesn't look like the sensible little stopped is that going to be up to really. And do their work it out in the bottled -- have a bond was -- Have to yell at some point. AMR bottle to publish to take some sort of discount. It's if they want US there -- two. To take over the company. Any concerns that this airline this new combined airlines gonna have too much power mean they're there. They're basically gonna control pricing on many routes that are required what you think about -- from. The East Coast to the West Coast US air an American they -- they dominate that market place. That's true although. We've seen in the past. Decades that the barriers to entry on. Airlines is not as polished wood today to because you can lease planes that. And and -- gates relatively easily. So I suspect that if if it seems to be that the pricing goes up considerably. Some other trouble coming and and try to undercut them on on price I don't think this is going to be. As big an issue as as some folks went out to be in the long term short term by -- prices go up. But -- over the long called. That airline industry issue it's not been particularly good at holding monopolies and what has. So -- I think. It's consumers might be able to publish -- to complaining effects of long security lines and and he's on baggage as well you know this merger the pros virtual not address any of those things. He there's an announcement by Philip Morse that the here Philip Morris international which was a spin off from Altria this is -- tobacco company folks. Did they are buying back eighteen billion dollars of Jerrold stock. He knew would form a system with the strategy is there why would accompany buying back that's an awful lot of stock to be buyback is like 1012% of the outstanding shares. When they buy backs on me this year. Well they they seem to not see any particularly other. Big ticket items to invest -- -- So more so nationals kind of a cigarette business they. The international cigarette business social Marlboro. Oral -- Alex any day of the Chinese market the Indonesian market Africa all the stuff outside the US right. Bright and and they're they're they're the company itself -- is doing tremendously well both that's a situation where they just don't see the them. The the growth they don't see sort put. Several billion dollars in cash that -- are sitting on and they are willing to just buyback shares in the stock is trading Italy and stood -- fourteen times. Quarter earnings so it's not particularly. Expenses so they've decided to do you know about investment is in themselves. Two 22. To do that and it's kind of -- in contrast to. Another company that's doing some shareholder friendly news which is Dell Dell yesterday announced they're paying. Quarterly dividend of eight cents a share which works out. 3%. Dividend yield but they're not the first tech company here over the past several months to -- increase -- -- dividends of Cisco Microsoft. Why don't -- -- just do that like why didn't Philip Morse just increased their dividend as opposed to buying back their shares. Well what its authority have increased the dividend moderate. I'm pretty regular basis has gone from. 46 cents in 2008 does is 77%. So it's just the basic did nothing -- that is. And that at this point. And and plus a lot of people into the bank that. -- dividend taxes. Go up. Next year that some of that increase in the dividend might just go right to Uncle Sam Bradford that shareholders' pockets so. That also to be the reason why they've decided to go -- -- inordinately large stock buyback sources. Increasing the dividend because that the company can't be accused of not being sure -- probably when it comes to dividends and increasing. Did about 50% in in three years in that economy and global and it hasn't been particularly good. No -- you're you're actually right mrs. I should mention to folks that -- Morse is a stock that we I don't personally but also in a lot of my client portfolios. Are well Russell I sure appreciate your time thanks for joining us today and the financial exchange. Great care.
