Financial Exchange- June 12
The government is running a protection racket!
Sun, 19 May 2013
Once they start "suggesting" that everyone donate to Obamacare, where do they stop?
Avi Nelson's "This Week in History"
Sun, 19 May 2013
Avi talks about all of the important anniversaries coming up this week!Martha Washington died. In eighteen note two she was seven years old George Bush and I by the way 1799. May 23. Bonnie and Clyde. Were killed 1934. By police. On the 24. In 1543. CopernicusI would -- have that always be there. Look at how well George Bush was used by the left in the election. That came toward the end of his second term. So I'm not sure that
REAL ESTATE RADIO – BOSTON! MAY, 18TH
Fri, 17 May 2013
EVERY Saturday from 12-1PM on AM680 WRKO for REAL ESTATE RADIO – BOSTON! I will be discussing all things local real estate
Automatically Generated Transcript (may not be 100% accurate)
I WRKO news fox Boston mobster Whitey Bulger's girlfriend Catherine Gregg about to be sentenced for her role. And helping Bulger allude capture for sixteen years prosecutors asking for ten years while Greg's lawyers hope she'll be sentenced for no more than 27 months. The MBTA says a man was killed overnight near -- station when he entered the right -- way for the Blue Line. He was struck by a train 47 year old victim's identity has yet to be released. Prosecutors unveiling some pretty graphic evidence at these sexy new trial of former Penn State assistant football coach. And Jerry -- dusty. And jury heard from the first witness yesterday -- dusty being tried on more than fifty criminal counts of sexual abuse over a fifteen year period. Ted Kennedy's widow inviting senator Scott brown and challenger Elizabeth Warren to a debate in September. A debate would be sponsored by the Edward Kennedy institute for the US senate moderated by Tom Brokaw. The warring Cain campaign accepted while Brown's campaign will considerate. Excel legal Lucent political contributions by text the federal elections commission approving that new rule last night. The rules to limit anonymous donations to fifty dollars a month. Possible global slowdown weighing heavy on Wall Street as markets open today there was a late session selloff yesterday. As optimism over Spain's bank bailout faded Andy -- from Bloomberg News is up first on the financial exchange with all of the details. Your traffic sports and weather next I'm -- -- WRKO -- Last season with the girl's best tourism season in years all the has so many people came to Louisiana they came to fill us in Florida make that Alabama make that Mississippi. This is Karen slot from Biloxi Mississippi -- -- run -- from Panama City block a hey this is shelves this -- Gulf Shores, Alabama this is still pretty New Orleans, Louisiana the best part of the gulf. We're -- And announce a great time to discover this is a cordial limitation to busy to go vote brought to you by BP and all of us all the golf most. Here's what steps to secure the win and general. We track. Forward. Grant and created sing this song I'm. -- can't -- this -- so. -- -- -- -- -- Fold -- do the normal. -- expecting prince charming. -- -- and explore nature you never know what you might tried to learn more about all the fun stuff waiting if you outdoors go to discover the forced -- -- This message brought -- US Forest Service and the attention they enjoy every corner is find what -- what's different between us in the whipping up guys everything down and emails we are -- -- -- quality shot and we are not here to the quantity of shots. Could build -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- And this is how I live united I volunteer with united way helping the homeless in my community -- teaching computer skills and helping them building basic christened it save on the very don't use these drives. It's huge when somebody says -- -- that job they help me a platform I got my name is -- Kaczynski. I help people achieve financial independence. So I don't just Wear this shirt. Give every -- volunteer live united totally behind -- daughter worked proxy by united way and -- council. WRKO sky patrol this report brought you by Exxon's fuel still some delays. Coming down route one useful to slow starting your main street to route 99 again from Copeland circle. Lot of heavy delays trying to get up onto the Tobin Bridge with a left lane restriction. From the Everett avenue on rev -- after the -- plus support -- five north. Would cover an accident by rule one tenement store on route three is slow for body by the troubled girl wrote -- call for an accident on the -- connector outbound. 93 north from a -- Montel avenue to 128 southbound -- at Dover Wilmington again from spied upon the rest of the way into downtown Boston. On the Mass Turnpike you've got delays from route thirty to the western state police charged again getting through the tolls to the supermarket and from the -- to -- -- right up to the proof tunnel. -- in the Charleston rest areas still on the left lanes shut down both directions from an earlier accident in fact it happened overnight. The so these expressway traffic going to from Braintree right up to Columbia road Morrissey boulevard to sponsor her for -- can expect the usual traffic flight delays. -- fuels and ExxonMobil they're Smart gasoline helps your range and get better fuel economy learn more -- fuel progress dot com -- clean. W -- forecast mostly cloudy today with a high around 72 cloudy tonight chance of late night showers below 62 cloudy tomorrow. Areas of morning fog and early afternoon showers 170. Right now we have seventy degrees in WRKO sports. Donovan Solano knocked in two runs to Baxter -- seven stellar innings. From Josh Johnson as the Marlins rolled to a 41 win over the Red Sox Adrian Gonzales sac fly in the sixth inning. Accounted for Boston's lone run of the game Josh Beckett gave up all four runs in seven innings off duty just suffered the loss for the Red Sox who have dropped. Four straight and seven of their last eight overall. They go at it again tonight with Clay Buchholz and amount to catch all the action on our sister station AM 850 an ID three point seven WEEI FM. I Malcolm Walter -- WRKO news. Your -- -- -- your truck moves -- -- your portfolio. It's time for the financial exchange -- Armstrong from Wall Street to -- -- Mario Armstrong knows got you covered. Here's the financial strains and we're very Armstrong can. Good morning welcome to the financial exchange well yesterday was a downer for the stock market. Started off quite well I thought we're gonna have a robust day for stocks but junior pretty disappointed by the time the closing bell rang at war -- Yellow for the wealthy is not seen in the veins and it's physically go around and around and around about this every ten hate. Sure does and the Dow down a 142. It's that's after a it had been up the futures had been up 150 points the night before so a big swing and events. And a big turn in events sending stocks a lot lower during the course of yesterday's trading what are the futures doing this morning. June icy mix futures Dow futures up 56 S&P 500 down 21 NASDAQ up ten oil trading down 37 cents. The ten year US treasury sitting at one point 63 that's up slightly. And then you've got gold down sixty when he at 1590. -- -- there were some predictions made by Goldman Sachs and we've imported Andy cinco from Bloomberg television in New York he's gonna help us. Decipher these market predictions in commodity price predictions by Goldman Andy welcome to the show. -- -- -- -- I'm all right yeah I do. We're doing great. And help us say the I was confused by the Goldman Sachs report yesterday because they are suggesting. There were gonna see a 40%. Increase in a lot of commodity pricing is that. It is that Europe what you eat you gathered from reading the report from Goldman. Yeah it bulk load on a 40% the -- -- at 29%. Gain in the next year for something called the S&P Goldman Sachs enhanced come on the index you know and they see that. Increase being led by energy and industrial metal. You know but -- because an interesting report because it -- -- on the optimistic view of the world. That he didn't. Europe will not descend into some sort of horrible debt crisis the US recovery will continue that it has been at for the for the lackluster pace. And perhaps most importantly is that. China will continue to grow at some real -- robust pace you know importing a lot of cool a lot of copper a lot of iron or. You know it is definitely an interesting forecast it if not because of the game that they're predicting but because of the reasons why. You know as we continue to debate what's happening with Spain and whether that -- Italy and other European countries you know these kind of optimistic forecast released. At this moment in time theme. At odds with. Reality they do -- and here's what I didn't understand they're suggesting you'd see an increase in energy prices and an increase. In the -- price of metals but there suggesting in their report Indian this is what I found curious they're suggesting that agricultural products are gonna decline impressed by 17%. During the next twelve months why is that. Well agriculture we have seen. Huge numbers of plantings for corn and wheat and soybeans. Because we have this very warm winter. Farmers have been out there are planning of what can they possibly can with the -- been a little dry in the midwest but you know if he did we get more rain out there. It'll look like we are well on their way to record. Record and it was just blockbuster cropped or corn and wheat this year so we would expect those prices to -- now of course that and that looks. Plausible reasonable let's just point out that. You know remember Russia had a drought a couple of years ago that does not appear to be alleviated all that much this year so there is that still a chance that prices could rebound there. And of course that China is going to continue to slow and hard production there is going to slow down in China may not be willing to import as much corners they have been. And so that two could be perhaps the risks to prices. Falling even further than what did Goldman is -- Unity that that's like I wondered if it was that we are anticipating a bumper crop and if that's the case there's a couple years ago we've had we've had very. A lot of bad years for agricultural crops coming out of eastern European and Russia. For the last five years so their rebounding in their crop prices and their crops maybe that's why are getting pricing. Yeah it and you know I should point out that this morning we just got a new crop update from the department of agriculture and on that report which is which increased the amount of corn we haven't stockpile and in the ground. Corn futures are pulling back here by about one point 1%. -- -- we've seen it 24 to four dollar decline in the price of boil it's gone from a 106 dollars a barrel couple months ago. Downed EV two dollars and 29 cents. And the skeptic in me or just the that the conspiracy. Theorist in me wonders. Who wouldn't to Saudi Arabia. Prefer to have as president of the United States Barack Obama or Mitt Romney do they have but it like it's in the best interest of Saudi Arabia. Oh well the best in their best interest of higher prices that you know overall they want a stronger economy worldwide not just in the US which -- the most oil but also in China which is now the number two consumer. Of oil and though he is an interesting situation where ending up in because you know OPEC had them. Headlines out this morning where they actually cut. They're demand forecast for the second half this year. To two point nine million barrels per day you know of course that's because European weakness Chinese weakness then get a lackluster growth here in the US. Bad as -- you know probably what OPEC would really love to see is the Europeans to figure it out and for the Chinese somehow or another -- pull a rabbit out of the had to get back eight or nine or 10%. You're on year GDP growth you know that you would help the US the -- oil demand overall. It's also interesting that the OPEC get a country they're also asking to raise their output quotas. Well that's what makes me skeptical or or are questioning of this sandy dizzy you look at -- the timing of their there the day acknowledged that demand is decreasing and then there are increasing their output. And indeed if the if the president goes to the election the polls in October November and gases at three bucks a gallon I have to believe that's gonna be very helpful to his campaign. Depending on how he's been good or bad depending on mr. Romney spent the -- -- the president came out that he had little control over gasoline prices. Which you know for all intense and purposes it's true. You know the president can't pony leaders to. To change gasoline prices that the market based. Product and so but you know what president can do is obviously. Insure a continuous and and secure supply of crude oil in the US whether we're going forward or whether we're building pipelines third tankers are importing it you know. These are the kinds of things that really determine gasoline prices overall you know that thing that we haven't mentioned here is that I ran. There sanctions that it could be to go into effect in the next few weeks. You know that you may be -- OPEC is pressing need to boost output because you know if you remember the concerns -- that Saudi Arabia would not have enough spare capacity. To make up for a Rand should Iran get pushed off the global oil market. Married right well I guess we have to wait and see who will watch it with. Bated breath Andy thank you very much for joining us here or Merritt at -- cinco joining us from Bloomberg News in new York and doesn't that seem. The timing seem opportune to you do today that Saudi you're the Saudi Arabia basically has a monopoly. In the price of oil they control they set the price of oil in the rest of the world does their bidding so if they drop the price of oil from its current level 82 dollars a barrel to say a 77 to five dollars a barrel that means you and higher paying three dollars a gallon at the pumps. I I have to think that's good for us and -- we start looking. The thinking more favorably about our president and. Thanks so you think that'll do it well and I -- I'm asking you I I I think you have to ask yourself are you happy with the job that he's done you know it's it's a lot -- it all boils down to the economy if it does but it's a -- lot more than just the oil prices -- -- thinking and you get the health -- bill you know that's a big chunk of business yeah I don't know -- is and I I've said that from day one -- depending on where the you know what we're paying for gas. And where the jobs number is the weak legal into the polls that's who get elected that's what I said it's maybe a month or maybe a week leading up to it but -- the -- wrote you know what I might do -- I may ask Steve -- because he's gonna be George how he's smarty pants data can ask him are not. They we we are giving. -- some whale watching tickets today you have to Texas at six CD succeeding if you'd like to win the -- tickets. That's sudden the whole -- mortgage text line is yes you have detects the word -- -- and yet to be the fifteenth taxer. And also coming up on the show. And we got a story and speaking of President Obama. Above the president's spending record with Wall Street Journal reporter Steve Moore and do we let a text question of the Dave Barry what would. You know what I wanted to do -- -- I want to get everybody's perspective on this story at the Boston Globe about -- one. He at eleven million dollar tax break. To build a new building down in. In and the South Boston waterfront so I'm really curious to hear how people feel about that day they're giving. They in this city of Boston. And the Boston BRA the Boston redevelopment authority is giving an eleven point five million dollar tax credit to the State Street bank. Now it's spread out over fifteen your third time but how do you feel about that as a taxpayer because. The fact that they're giving this tax break to State Street means that you and I have to pay a higher rate of income tax then if they didn't give details. It creates jobs right I mean if and it ended. Sort of -- -- -- -- -- economy down and -- and that district you know arguably -- -- YY State Street and not to WRKO. -- like like why why give them a tax credit not when when I just lower everybody's taxes across the board as opposed to identifying. Several large corporations read the tax credit could stay street take often say go to New Hampshire and they don't feel to Hampshire maybe -- like that music got voted eighty. Well I'd like to know what our listeners think 68680. Is our -- number we'll talk more about that story. State Street bank getting an eleven point five million dollar tax credit. To build -- building in the South Boston waterfront story today's Boston Globe Burton Mike Casey Ross up next as we said we will be joined by eight. Steve Moore from the Wall Street Journal he's our next guest on the financial exchange. Your tune into the environment it's. -- -- You'd be amazed at what gets left out about your family over the years. Are you curious to find out then try Ancestry.Com. Today you'll have fourteen days to uncover your past generations and all their mystery free. It's almost limitless what you confined. Visit try Ancestry.Com. And discover the world's largest online family history resource free for fourteen days. Visit try Ancestry.Com. That's TRY ancestry dot. Com 99.9. Percent of the Granger products you order -- at the same day. In 99% of our customers think that's great but if you're part of the 1% minority that thinks this is too fast here are some ways you -- slow -- down talk slower on the phone -- language only you understand under orders shipped to a house -- then move the house vote for my personal favorite order a trillion -- something. 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Financial strain Chang -- -- from a WR stereo radio network and -- Well the Dow futures are up about 79. Points as we wait for the opening bell -- Maturing in ten minutes our first guest our next guest is Stephen Moore. He wrote an op Ed article in today's Wall Street Journal along with Arthur Laffer Steve welcome to the show are you doing. Good morning great to be with you. Good ST -- I almost had a stroke the other day when President Obama said that government spending had risen at the lowest pace in nearly sixty years. Was I imagining that statement oral anti smoking something before you made the statement. Now that the president did say that he said that he's bad you know less money than any president since that. Dwight Eisenhower's -- Our throughout our -- that it looking a bit out jaws drop just this you're dead -- that doubted that we started looking into the real evidence that what happened responding. Not there's two parts the story of the water is that it's true that we got that massive increase in spending. And George W. Bush took last year off fest dot you don't remember we have the bank bailout and we have that it the insurance company bailout you know and that the stimulus while that's a lot. Up a bottle Bubba came after. You know in the first months of his Brothers speak -- 830. And the dollar mega stimulus amount we had cash for clunkers and -- the auto bailout that we had. The other is several hundred billion dollars of mortgage modification programs to isolate you add it all up. That federal spending as a share of the economy under a Barack Obama has been the highest. About a president spent he used to the end of world war you have by a long shot by a big archer. Now he would tell -- to remind everybody what happened to government spending during the Clinton administration because it was interesting you yet a Democrat in the White House but you have a congress. That was controlled by the Republicans. And don't delicate delicate very fiscally conservative you're -- you know especially you know when he had Clinton in the White House especially after the Republicans took over congress you have it. A good combination upon them right out and not -- can't urged the Republicans running congress and there was very little both the government of back. You remember this that the year that built our block office. Hard to believe we had a 200 billion dollar budget -- -- Now we have one point three trillion dollar adapt itself I got the bottom line here are -- political star rid of fiscal conservative out bush. He had Obama have been well they expander. It was bush a big spender during his first six years or is it really just the last couple years -- I know he did the Medicare part. That was a big cost. Yeah that's a good point out. That bush would spell out the album out barely expand her even in this -- -- -- that you steady at that Medicare prescription drug bill he did that. That big expansion of the education budget through No Child Left Behind. I don't but the real acceleration of spending as you just put it really happen in 2000 Chavez. And they ask what what happened in 2000 Auburn from about one Nancy Pelosi took over as speaker Harry Reid -- over as the senate majority leader and that's where you see that. The real beginning. Of the avalanche just -- that happened in the last eight years of bush and I'm not. First dot first three years -- her -- I was not off. -- I think I would remind everybody is that bush could have vetoed a lot of that spending. You know he broke into setup right now you know. Our script are responsible award for what happened that I watch and I could not agree with you more you know worked for president or break event. Bad guy you know we kept urging him veto more real -- finally -- -- evidenced -- the -- did beat up I don't think George Bush used the veto. Ideally and -- back but I don't -- the other but I think in this first term. I don't think he'd -- -- -- single bill all I may be wrong about that but certainly not spending -- Right they acted target remind our listeners about the similarities between what President Obama is suggesting. And what president Hoover back in the 1920s. Late late 1920s early 1930s did. During the course of the depression. Right because both of them took over during economic crises -- -- that well obviously -- 29 the stock market crashed as everyone knows said that there are almost everything Herbert Hoover did. In the it is four years of the presidency. Was a disaster or the perhaps the biggest air bill of American history blue collar belt. He'd been had a massive increase in taxes that attach rate went from about 251 of up to about sixty per shot. And expanding increased and so on and so over it really was one the one who ignited that. The -- Great Depression addiction of Tibet Bob minor recession amount of course Roosevelt came -- and you know added at a higher taxes and more static and that's kind of what stop Barack Obama has -- -- fact what the low point would make it the -- -- Article today is that devastating we could do right now would -- -- he's -- straight on about spent actor Applegate on dividend about small business says. That's the big debate there were -- right now watching it and it's a -- interstate. Yet Bill Clinton that they got word you like about last -- dead baby -- about about by deteriorating they've got straight. Well the other thing -- remind you of though there have been Republicans who have come out and said Steve. This is not a great time to be cutting government spending either because when you cut government spending your taken money out of the economy. Now but that's completely right that's the point of articles that back. In -- 1991 we cut government spending we have got incredible economical one Reagan cut spending in the mid eighties. The economy -- and then when we got big increases and spending that's why on the fact that that they economy is -- or laced up. The keynesian idea the government spending stimulate the economy just there's been this program. But what happened in the last thirty years of course the last three years have been about evidence of that we that the biggest spending freeze for all its sixty years and it got our economy hasn't got. Will Steve you know the pendulum starting to swing when you hear about states like California saying they have to cut back on their welfare programs right. Well believe it what I see in the California -- -- that I kept out of the end. You know they've been talking about tried to do that for years and years but that. You know California that got its own set of problems at the microcosm of what's wrong with watching that they keep increasing spending they've got by it Backstreet summer Richard -- state. Bad ballot cabinet urged people love them they've got the biggest budget that's pathetic state. Yet they let me ask you this is off the topic but we've seen a twenty -- dollar 26 dollar decline in the price of oil. I'm Saudi Arabia do they have preferred candidate. Between yeah yeah yeah. They are carried out no matter -- -- by the white out gimmick and I think the president gets what did it anyway and today job -- be that you actually about you'll right. Yet no Saudi Arabia -- like it if they were trying to impact or it influence the presidential elections here in the United States. -- our favorite candidate. -- here's my view other oil -- -- -- the oil prices are falling knocked out because the world economy isn't such a that's really the reason you're not seeing any growth -- that. The of the economy and when economies around the world don't grow gets what they don't demand as much oil which you -- the big story about all of this country as we got a boost going out and -- -- got so what this country. And -- -- you know the the shame anymore not really going after it the way we sure because that would reduce ourselves to trade up there with those countries like Saudi Arabia and I ran -- and it would help the economy. Amazingly if we can get those jobs and -- oil. Yeah now or get our natural gas infrastructure built out out -- according when I don't know. We need those pipelines but elect the only thing that's holding back -- shall be out there -- -- fuel for perhaps. And for all needing electricity. We don't have the pipeline built and Barack Obama blocking up. While not only do you not have the pipelines built that a lot of communities don't have it in their towns like June. There are Michael Quarshie her mom has an -- street but I couldn't get natural gas in my house even if I wanted to because it's not on my. I think that's gonna change rapidly and I think natural gas is the fuel of the future poor electricity production all eating any I think we're gonna start to speed transition. From cars used in loyal to oil and natural gas and how will bring down the price. Of oil it'll make got the build up your -- god cheaper in the future and we're not gonna have to get up from countries like. Saudi Arabia and Venezuela -- around -- opt out to us that there really good news story. -- is it is who Steve guide best of luck and I don't let the cops get -- down America. All right sorry about -- out belt -- Obama -- -- -- -- -- on the radio. All right Stephen Moore from the Wall Street Journal joining us today -- -- China allies in making such a big city -- he -- drive around the president that is sort of undercover they don't let everybody know what you've gone by now let me inside. The perimeter not yet if you're. -- Hey up next -- talked about state street's tax credit that they're receiving from the Boston redevelopment authority. That and more coming up on the financial exchange. June ninth and very Armstrong. George tuned into the financial eastern here on the WR -- radio network. We get 65 degrees you'll see partly cloudy skies today highs in the seventy's be rain comes in tonight and unite WR -- news reported stand your ground law in the spotlight today is the special task force assigned to review that law holds its first public appearance. And that is in response of February shooting death of trade on -- -- know numbers going down gasoline prices continuing to drop right here in Massachusetts. The latest report from AAA showing those gas prices dropping eight cents in this state over the last week. And some changes if you're a Verizon Wireless customer. Verizon dropping almost all of its own plans in favor of pricing schemes. They'll let consumers shared data usage in up to ten phones and other devices that new plan. Letting users -- no one phone devices like tablets and laptops and their plans. As well as the clones of family members this change takes effect on June 28. Hit a market is open and we've got those numbers next I'm June night WR PM news. -- just in time for Father's Day needs this zoomed way in Tuesday's ailing Joseph made bank. We had everything in the stories half off and more on Tuesday only. Like old Josephine thanks suits and sport coat. 70% off. All executive dress shirts and ties tremor follows insurance door buster priced at just 25 dollars. No wonder they call it Super Tuesday it's at least half of all everything is -- payback. Suits and sport code 70%. Off and he executive puritan times and traveler -- -- choice for just 25 dollars. And most -- of -- stores are open early. Give you time to wrap it all for the Father's Day you'll never forget 8 AM to 10 PM Tuesday only. Have Baltimore. It shows is payback. Goosen -- street Burlington Camden with them over enough. Need to implement the premium. Did more for less with -- not go to Luna dot com slash traffic and receive your exclusive discount on all flooring visit -- dot com slash traffic or call 877241. -- the good. What is the farm manager Jerry and William Barry Armstrong saw a lifeline -- W walker. Good deal. Work. We haven't done yet but sometime during the next ninety minutes we're gonna give away a couple whale watching tickets and when you hear that. Very -- splash. That's when you know it's time to bring you well yeah we had a loud splash that our producer Dave and decided to change it is he like hit me and said it was this and so much better daunting hit yes there is a really good yeah and stay here. I thanks for now I'm a new one today have found a new -- as a -- actually emailed -- a -- -- I asked -- to a couple of days -- on the. Really nice BC they. Here a little -- participation parents are actually here you have to be the fifteenth texting the word may not yet. Not yet -- you when you hear the slash pay 68680. You know is the text number ourselves to go and 27 point. 503. NASDAQ up eleven oil is down 26 cents to 8244. You've got the US treasury sitting at one point 64 and gold is found 550 at 1591. -- can we talk. Of course married really that's what we did a little let's talk about. Tax credits poorer State Street bank presents feeling you know like this are gonna throw it out they're out. I'm gonna give everybody the facts and then they can decide how they feel about. Second and our text number by the way is 68680 we'd like it away again. With how you feel. About State Street Corp. receiving eleven point five million dollars in tax cuts. To construct an office building on the South Boston waterfront which is actually a very nice location. It's the latest deal by the city transformed the the South -- it's really had kind of a rundown industrial area right. Tom -- the the credits. Are gonna be spread out over a fifteen year period of time. And it has to be approved bought by the Boston redevelopment authority. The project you know the good news here is it's going to create a lot of construction jobs it's gonna be open. By February of 2014 which means they've gotta get crack. That means that all dropped those things up like you know -- I don't know Ali -- it's it's a big job they see it's going to be a one channel center. It's gonna cost 225. Million dollars. It's gonna have 525000. Square feet of space. And it will be completed by February of 2014 part that's all the good news strike is that you talk about jobs that's a lot of really good jobs now. In fairness. Vertex Pharmaceuticals received 21 point eight million dollars in state and tax incentives. Tom also there's a couple -- other buildings under construction it stand here and in prior years. JPMorgan Chase in menu life have also been given favorable tax treatment so this is not unique to State Street bank aren't. But. The CEO of State Street Corp. Joseph who -- He's making sixteen million dollars a year of course is so he walks on water could no question about -- couldn't he just give up a little bit of the CEO compensation and and -- rather than unite his. -- when you give a tax credit like this. Two State Street Corp. right. Then you and I have to pay more taxes to pay more gasoline taxes to pay more property taxes to pay more sales tax. At least pay more income tax because there's the special side deals. That are getting done. And I I don't like it especially when there's CEO's make and sixteen million dollars a year and missile probably bring in what generate more money for that CEO was well at some point you'll get a raise well -- I don't know how much forty need are much more right deserve if you're already make and sixteen million dollar yourself. They're just -- I'd like everybody does it give their thoughts and if they can let us know how they feel about State Street. Getting an eleven and a half million dollar tax credit card at our expense we. Do you have the 617 -- are saying he's usually for this type of incentive to create a development -- like I was saying. But the waterfront is already so desirable a company we need to tax incentives to build down there an eagle I I have to agree with him on that. It's it's it's -- becoming like enough already with with CN -- and the waterfront in the canal in the I mean it's. Shore Villa then you have East Boston waterfront well hey you put it single bear. You you could you date they are though I mean here you've already got residential properties in East Boston is that the. Beat in South Boston you've god it's a lot of it is warehouse space it has just been. Yes it's it's it's not been developed for a long time to sit there -- so. This is a it's a big project I like the fact that it's a job creator there are a lot of job creating projects -- like that aren't online -- right these are these are jobs that are Munich period the these are projects that are gonna create. Hundreds if not thousands of jobs now State Street Corp. isn't gonna go out and hire more people because of this. But they construction of the project is going to develop. -- -- -- to be restaurants and retail and things like that as well in the building up so -- you'll land if -- property in South Boston this is a boon to you let's say you bought a Condo 1015 years ago and got a triple Decker in South Boston hand. That is good this project is good for you because it make your property values go up because people who go to work in this building. In 2014 member this opens up in -- 2014. If you if you're commuting there. From what you've you're commuting their summer -- right lakes club but I think that if you've got a long commute to get there break you're gonna save yourself want to start looking around here. Unless are looking for an apartment in South Boston to see -- time if you want a little -- -- you know I think it becomes more desirable -- in and in the South Bend is becoming more desirable. -- waterfront becoming you know that's where today the the kids wanna listed as long as autistic kids all cities like a luxury apartments are down because what is it creates jobs I think in the end that's if that's the main focus then yeah. But. We've got a bunch of people saying no distance Texas techsters here is saying now now. And a bottle -- angle cameras how much State Street pays and tax there and the -- -- -- -- that well I care right gay and you shouldn't care too because if they get a special the only taxes anybody who gets a special deal on attack -- Liberty Mutual got a special special deal JPMorgan Chase -- all these big companies are getting special deals on their taxes right all of that which means that you would I pay more -- Well or they could leaves and as we did on another show go up to New Hampshire and they do their business right and they do because if they're small they -- a war I can't I'm not big enough. To get a tax credit by you from the city of Boston -- moved to Nashville and here Karl -- to Manchester new natural moved to Portsmouth. You -- to -- to all of the areas that are right along the border of Massachusetts June in New Hampshire in their booming there there's no one employment. Property values are skyrocketing in the office buildings are full why because Massachusetts companies are going up there for that very reason. They're not big enough. To get the attacks credits from Massachusetts or the city of Boston so they moved north -- all right well. Tax assets 68680 polite mortgaged excellent let us know what you think we haven't given away the will watch passes yet but when you hear the big splash. Speed of fifteen texture. Okay the word whale that's coming up all right Barry and a whole lot more Gupta will be joined next by Joseph mag your from the Motley Fool get your pen and paper handy. Open up your trading browser your trading account because will be talk and stock next with Joseph mag -- from the Motley Fool. Here's the financial exchange -- Barry Armstrong almost WRKO. 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Well we ask your question how do you feel about State Street get an eleven and a half million dollar tax credit and you responded I've always says. Who cares how much State Street pays -- -- The CEOs and getting your credit we need to jobs twelve egg day I guess they tell you are Tenerife. Kidding myself but it. If they get a tax credit June. That means you and I pay more pride in income tax credit what are you talking about so these credits raise the tax rates for everybody else yes yes they do win the -- that's what I think people don't understand when you give a special deal -- to Liberty Mutual which got one Vertex Pharmaceuticals is getting 21 million dollar tax credit Mulder -- in -- is a movement from Cambridge. To Boston right. Didn't have to be so and again 21 million. How does it doesn't have to be so much 21 it can't it can't be like an eight million complex credit. If you were New Hampshire adult or North Dakota or fewer an attractive state for corporations to move to he would have to do any of this -- -- and maybe just lowered everybody's taxes they'd be they'd be coming here from other -- the reason we haven't had any population growth. In Massachusetts in the recent New Hampshire's population growth is skyrocketing. Is taxation and -- people aren't stupid right they gonna go with a lower rates attacks -- and it's always been like that here Manuel -- we've always been pretty hot you know we've always been pretty hot. Our guest is here Joseph mag your from the Motley Fool joins us today's got a couple stock picks. Joseph welcome to the show Daria Dolan. Great there -- -- good you wanna talk to us about Goldman Sachs that's when he picks is -- It is. Talk about today -- go when there's a stock that ever -- -- right now but that's why I like it. With big company general they hit the stock turned. Well they definitely hate both come. Goldman stock -- hold -- bigger discount to its tangible book value words liquidation value. -- for 99%. Of the past decade. Percent of the public actually named the pilot. No more expect the price which is to say that. It's hardly ever been this cheap. And the other good reasons people worried about a financial crisis again -- two point -- let -- and actually. And much sweeter does that span when it went into the financial crisis. I've got you -- -- web bridge and access to the Fed window but when you look at the discount on the -- that in addition a lot of value. The average Joseph like I read read another analyst report on the stock last week and he said he was bearish on the stock. Because they're laying off a lot of their investment bankers they're having layoffs because they anticipate a slowdown in their business. Yet they are and I definitely think that the the grade three to five year investment window to -- and it did you know before how we always recommend investors cope up. When you look at the stock think that this where most valuable assets to Goldman has urged people Brandon relationship yeah. And it today's -- -- by and that pulled free -- by April less than the breakup value confirmed to know that things could go wrong but all things equal -- the pretty sweet price. -- update now the PE ratio is thirteen to one what is it looking forward you know don't. I got editorial earned him. Yeah I'm not sure before adjustment is but I can played at those numbers are a little bit deceptive because in the they activity is spent in the basement for a while. And they've had a almost record low streak of -- and but well that's -- negative the upshot of that is that because there's a lot of leverage in the business so when. Good time to roll back in May eventually well it is here and really go up. Right any chance of them increasing their dividend it's pretty meager then it's less than it looks to be about 20%. Of their earnings. Yeah that's pretty -- right now and I think they'd like to racist but the Fed is the one holding them back but to be honest I'd much rather see them keep repurchasing shares supposed to get discounts sort of pan out that down. Good idea Joseph what's your second pick I didn't get the second round. Sure so a couple brook hotel trust which is a much less famous and heated anti. But sex. It's small real estate investment trust that focuses on high and the hotel. And the ones they own a real trophy property is the command higher prices that are great location so one that you guys might recognizes the W and bought into your and others certain registrations. Different Cisco. About you'd hear these hotels. No pebble Burke just bought the -- because a W had been in bankruptcy Hadnot. Didn't they -- bankruptcy. They are going around and the product -- scooping up. These high end hotels. You know bankruptcy or distressed because companies that. Take on too much leverage heading into this financial crisis right and overpaid for hotel yeah and now suddenly ever went -- incompetent pebble -- -- combined demolish. Pretty good prices send in some cases Reese Casey and a lot of them up and reinvest in another hotels including command higher price of. Ring -- very interesting -- and that's a 21 dollar stock what would you would you buy it now and be ready to hold -- for a few years would like how. How long do you think get to hold this thing to make some money. I'm pretty happy with this one I think it's one that'll do. Do really well over the next couple years spread out pays a dividend of 2.3 percent which doesn't sound exciting and it's misleading because they're. Reinvest -- so much cash and -- -- base in the hotel combined new ones. When you don't wait for that stopped which you will only gonna -- that dividend double or triple over the next couple. Here's how are they getting. Hurt her let her they get in financing -- me dizzy I know that a lot of the big banks still aren't. You know given money -- do they have the their own cash at their use and by the stuffer they getting financing from a foreign banks hedge funds were the in the money. I've debuts some of their own cast some of it's been directly -- this switch because they're greedy equity holder I'd prefer they avoid but if they're able to go out. By hotels the big discount they think they can get higher rates the -- to reinvest in the -- up call for. All right well Joseph thank you very much for your time -- sure appreciate and love your picks thank you. That's Joseph mag here from the Motley Fool used to stock picks for Goldman Sachs a symbol GS. And the second one was pebble brook hotel trust the symbol for -- -- Is peak he'd be will be right back -- when we come back Brit talk about some your text messages regarding. The eleven and a half million dollar tax credit that State Street bank is receding to build a building. In our new office in South Boston are tech's number 68680 this is the financial exchange. This is the financial straits. Very Armstrong on the WRKO. Radio network. Why would you worry about the cost of -- nursing -- -- you're only in -- sixties in a nursing -- is a long way off -- is very Armstrong and time flies as -- -- the only thing that seems to speed -- is the rate at which time passes us by nursing homes cost more than 111000 dollars per month and the best -- retirement plan will fall apart if that cost hits your personal balance -- -- been working with clients for twenty years and I don't -- many -- can afford to write a check to the nursing home for 111000 dollars per month indefinitely at the same time you're probably asking yourself what -- do about it too simple solutions one. Go out -- -- lots of long term care insurance and I mean lots the second is to create an irrevocable Medicaid trust and the key is to do it soon. And remember you only five years to make it fully protective call my friends at Cushing -- -- they'll mail you a free report that teaches you how these trust to work 78153495557. Anyone. 534. 9555. 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Mary are there any preemptive measures that a family can take. Absolutely Joseph it's ideal to initiate -- state planning with an -- towards long term care costs before there ever needed a little planning goes a long way whatever your situation generations asset preservation can help. If it's time to protect your family's lifetime of savings called generations asset preservation -- for eight and 8554. Rate 360118554836011. And visit generations asset preservation dot job. And learn -- Laura Murray Armstrong I mean I. So -- George Jerry's -- WR zero radio network. We're getting a lot of feedback on this State Street bank. Critical that people just love to correct. That's what they live to do with these Jackson in 97 says very this is a tax incentive financing in your misrepresenting what basis for. I don't think I have folks say you let me just set the record straight. The reason. That businesses. Are relocating to New Hampshire is because it's cheap it's cheap you can hire people for less money can update the employee you hire don't have to pay state income tax -- so that's one reason. The -- the corporate taxes are lower the wages a little lower their two -- wages are Lori is a everything is less expensive so corporations either moved to New Hampshire or they threaten to move to New Hampshire and so Boston. Gives selected companies tax credits in order to stay in the city or state in Massachusetts dependent -- -- -- -- -- -- -- -- do we do -- sent and what bothers me about this is you have it they're getting eleven and a half million dollars over fifteen years who does that maybe 7800000. Bucks a year no it's it's not the end of the world that they're getting seven -- 800 million dollars here. But here's the thing. They're CEO. -- is Macon sixteen million -- yourself how does that guy walked into a meeting with Mayor Menino and I'd love to see here's how much money. The CEO has made to mayor to be donated to Mayor Menino political campaigns may be called let you do that bad dirty work how I am happy the recent local host fault is it that the CEO is getting sixteen male who -- -- -- I -- -- stockholder stockholders approve the compensation. It would just fine being you wanna make of the -- of sixteen million -- that's fine but don't ask me break a Macon fifty grand a year. Working for the globe don't ask me to give the guy as good as us and eleven and how -- our tax credit and that's what happens when one company whether it's vertex pharmaceutical. JPMorgan Chase Liberty Mutual. Or or State Street Corp. when they get a tax credit that means the rest of us who are hard working trucks sprayed and and I caller for us trucks because we -- pay in our tax break we rarely trust we have a flat tax in Massachusetts how we pay five point 3% on every penny we make just -- being given the -- opportunity. To work in master's at exactly in the same thing goes for Rhode Island imagine how your tune in Rhode Island right now. You gave away 75. Million. Dollar to curt Schilling's company and the money's gone Stoops and now you know what to do there's the road island legislature has started an investigation. Into how that money -- sensation. Until I talk talk about a little late though I mean the money's gone right be the company's bankrupt. And now Rhode Island decides to look into why -- they -- -- -- this a year ago no wonder why their unemployment rate is what like 30% because I'm no doubt that I've been -- it's much higher than Massachusetts Rhode Island has a very high unemployment rate than their relatives to the state of Massachusetts and that's and then there's a reason. 50 wait Barry says that a news doesn't get jealous of corporations paying less tax they're just entities that exist to create jobs and wealth. And he's more worried about individuals who pay less taxes. You know which he doesn't see happening in the situation. Will only be. That is good thing about this is State Street will create a lot of jobs that that you have to -- degree and then construction jobs are -- be created show. But my point in in all trying to suggest here is that. If tax rates in Massachusetts were lower across the board but you wouldn't have to bribe companies to stay here. You wouldn't have to give them special inducements. To -- to move into the state and stay in the state that throws this boils down to -- why do we have to give them abroad because our tax rates are so darn. I Giuliani choice you're clearly and get him to stay here because I thought they got a payoff in India still looking to save yourself would you how much money went between the CEO. And India and the mayor's office your blood pressure is gone up I don't see it you know I'm -- -- a better change the topic and so when we come back will be joined by Jeff Cox from CNBC. America's wealth has decreased by 40% -- Jeff Cox from CNBC we'll tell us why on the financial exchange. -- -- -- -- -- regulatory of the Wall Street Journal with Boston business today. The National Federation of Independent Business small business optimism index slipped to 94 point four in -- that's down from money four point five in April. -- on the import prices are coming out today not doing much to affect the stock market. The yield on ten year Spanish bonds rose above six point 6%. Within striking distance of an all time high Asian stock markets were broadly lower today crude oil futures slipped about four tenths of 1%. Shares of FaceBook slightly higher the social media giant's stock closed down yesterday by three tenths of 1% -- 27 dollars and two cents a share. -- Torre the Wall Street Journal with bonds do business today. -- -- -- Gravy you know win over. Our home for a college -- In February afternoon from -- result -- only here on Boston's -- vision. You -- here. 68 degrees partly cloudy skies today highs in the upper seventies the full forecast is on the way -- unite WR KU news. Well she -- did in at any minute Whitey Bulger's girlfriend. Catherine Gregg will learn her fate. Put a role in helping Bulger elude capture for sixteen years. Prosecutors asking for ten years while -- lawyers told she'll be sentenced to no more than 27 months. -- proceedings continued today in this child sex abuse case against former Penn State assistant. Football coach Jerry -- husky. A Middlesex Superior Court Judge now rejecting a challenge to the use of the words under god in the pledge of allegiance in schools. A judge threw out a lawsuit filed by an atheist couple left kids in the acting school district. And their kids refused to participate in the pledged. General Motors holding its annual shareholders meeting today in Detroit. And meeting comes as the federal government continues -- own 32% stake in that company. After a fifty billion dollar bailout. What seems to be worth of the American family is taking a hit numbers from the Fed reserve saying the average family lost almost 39% of its wealth. From 2007. To 2010. And the most -- assets linked to their houses both of the ones that took the biggest hits. The most expensive ticket in major pro sports velocity NFL's New England Patriots according to a report by 24/7. Wall Street the average cost of a ticket. To what patriots home game now just under 242. Dollars. And yet you guessed it the Red Sox lead Major League Baseball -- just over 88 dollars per ticket. Your traffic sports and weather or next I'm June night WRKO new. Generations asset preservation. Preventing families from losing a lifetime of savings to long term care enjoy everyone rose five wood products we built quality supposed to be shot using only -- pine boards and nobody gonna wanna apply what in my judgment -- your listeners call now get 20% off all our standard designs for example -- twelve -- -- regularly 4235. Right now 3388 and the ramp to the advanced thirty Iraqi judge -- shingles with a 1012 through. It provides maximum already storage call for details -- 15854472. Or on the web that PP WP -- dot com that's TP WT shirts started on -- -- find what part of the best coaches and when glimpse. House sixteen actually win and general. Free for track. Forward. Can't -- -- -- sing this song you got. -- can't -- this -- so. -- -- hosting so strong. Fold -- do the normal. -- expecting prince charming. -- -- and explore nature you never know what you might try to learn more about all the fun stuff -- few outdoors to discover the forest -- This message brought to -- US Forest Service and the accounts. Make one difference in your -- -- Save the environment and it all starts with just one thing. Like green businesses who purchase renewable energy certificates called -- to show their commitment to the environment by supporting the operation and development of renewable energy assets. To learn more about the PR benefits of making a portion of your electricity consumption green. Visit constellation dot com slash 100 no more green ideas and share your one thing go to wrko.com. Slash one thing. Can be short you as the number one. Fort hills golf withdrawals -- by Dunkin' Donuts northbound expressway slow murders were -- wedding Columbia road north of town via port 120 of the ball but the road. Southbound right -- 38 children Bridget Zambrano this morning from car street to the -- the left lane closures why. Turnpike eastbound is over the wasn't souls of this market over time. But Dunkin' Donuts make USA it's just. Like -- to make jury today pretty fresh in the meat roast beef sandwich America runs on Duncan price of registration may very. Limited time offer a WR -- sports Red Sox losers again -- a -- -- after a 41 beating by the Marlins last night in Miami manager Bobby -- time. All the Marlins starting pitcher Josh Johnson. It's pretty tough playing you know had a couple opportunities -- for these these -- very good pitcher and noted that many say well accessible Conan. Celebrating in the summer guys do pitch. Every every site for them. Game two of the series tonight -- buckles takes on Mark -- covered about one can be found over and our sister station 937 WE I have them first pitch at 710. But oversight of their franchise history the LA kings of the Stanley Cup champs following his six to one game six win over New Jersey last night kings goaltender and comes month -- over what are jumping -- Enjoy those last few moments of the game right Rocco was dealt out. In -- -- -- score that that fifth goal empty -- that's when you can take him. The big deep breath and relax a little and realize is the you know it's gonna happen. And the NBA finals begin tonight is the Miami Heat against the Oklahoma City Thunder game one tonight in OKC. Tips that nine. 73 pretty good chance of rain tonight -- get in the sixties tomorrow Moreno high of 65 it's seventy right now Limbaugh said miss -- -- -- financial exchange. Get all W mark -- audio on command major wrko.com. Bob jumps all CA EW York daily news. -- You won't see what your truck moves it's your portfolio. It's time for the financial exchange rim. Armstrong from Wall Street to -- streets and very Armstrong -- got you covered. Here's the financial strains and we're very Armstrong. Well I'm happy to report to the Dow Jones Industrial Average is up 61 point travel a lot better day than we had yesterday June. Yesterday it was one of those days it would be -- he's just an indication as to why you shouldn't look at the futures I should not. -- that on Sunday nights anymore I'm gonna stop what you expose yourself to that kind of put yourself and -- place like data on a Sunday -- -- Monday night whatever every night on every night I do just wait -- -- what you know punish -- okay the Dow is up 45 points very -- 500 up three NASDAQ up and oil up 56 cents everything's up. Also the ten year US treasury one point 627 -- up of tiny bit. And you've got golden now up eight dollars sitting at 160480. -- Our guest right now is Jeff Cox from CNBC and Jeff welcome to the show how -- Good morning how seriously America yeah. Good idea there's a breaking story on CNBC. Com about governor -- I'm just gonna redo the first paragraph of governments in Europe should lower taxes and increase salaries to boost growth rather than insisting on austerity and continued saving. This according to famous economist Nouriel Roubini. He told this to a German newspaper in an interview. Within the last -- -- yeah that was sort of what's goal would tell -- you're laughing which is never a good sign object that. Ask no I either I think is look I'm all about lowering taxes and not it'd -- Trying to generate growth and the whole idea of structural reforms. And in Europe I think it's a terrific idea too. So all -- bit the notion that. That you European governments need to do more to promote growth. Yet absolutely and if you do you know wanted to do austerity to the point of being draconian about a third of you know it. That part of his idea here is that he wants the German government to give every German household in 1000 Euro which is about -- -- 150 books and bit and our current -- -- assertion that they can go on holiday in crisis countries which you can going to help boost growth there and do you think there's anybody who buys holiday home in the southern Europeans speech can attack bone it's not. Armed and disconnect. It's repair reeks of social engineering a little bit yeah and it it I don't know either I think it's almost beside the point what we're really needs to happen over their side you know this is burial and yet a lot of interesting ideas in in this. You are expected though isn't he -- they -- he's been and he's a professor at NYU. Yeah this is this modern monetary theory is that with this it re UDC's social engineering. I've studied Mon and modern monetary theory you know Galbraith in Mosul are all those guys talk about that pretty regular is that what materials referring to. Sure you know I doubt I would go along with fit and you know to. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Do do you know that did the narrative without point was that the stock market leading role in and that we were on the path to recovery so. I mean you know he's he's he's he's a bright guy I just think you know this description for what ails Europe is. You know it did that it's trying to -- -- more dead you know. It that you Smart guy he's a Smart guy I have so maybe. All right fate I notice Spanish and Italian bond yields on the rise how much longer until Italy's on their knees saying hey. You know we're we're almost is where I guess it actually Italian economy is the third largest economy in Europe right behind Germany and France. Here third or fourth Q did you do that you might be right third that that it's -- but it -- at the point being is that it is a very large economy did in Europe and -- did that they have and there's a number concerns there. -- one of the concern is just being is that the -- it at that level of interest rates. It is good that the whatever money they're going to have to borrow a Q what do to keep very government running big have to page is very high rates it's going to stunt growth. Did the other part of it is with this we would -- hundred billion Euro bailout in Spain -- -- Italy is actually worried that they're going to be other but what do we know which they will be within a bit of these big they're gonna the other vote for for part of that and dubbed the emphasis you know -- and this is that a problem over there that this is just. If you wanna talk about Domino's surged no balls or whatever that you know wants something happens to one country. And it happens to all the of them this is you know might think about. Greece is that you have some pundits out there are saying hello who cares about Greece is just too little country and it used by the Indiana or whatever and yeah. -- what happens to Greece had this actual Domino's snowball effect that what goes on there ripples all through the whole continent. And now you're saying it will expand its spell out. Everything looks great I heard did on the lead and talk about watching the futures and it looked like we're going to be you have a one of those richter faceoff rally yesterday and -- went the other direction because. You know. -- there's no fixing mr. conventional measures. No -- there doesn't seem to be and I don't think anybody really has the answer do you when you look at these here are very austerity cut tax cuts each. He didn't it there's all -- -- whenever somebody has a potential solution it's pretty easy to poke holes and. Well I think the problem is is that we're looking for an east east we're trying to find you know this that this sort of -- -- razor type of solution to that this problem where we just sort of you look for all of all the multiple answers to what could be done over there. We try to find the simplest thing to to do and there is a simple solution as at this point that take years of reform who's going to take. You know. I I don't wanna make an -- prediction about its sustainability of of the fiscally code editor of the monetary union over the airport. I think the that the that that it's not. If it is going to be very difficult people altogether you know there's there's your argument we made it. At the full tour. The most adamant backers of the eurozone actually are welcoming this crisis because they see there's an opportunity and to implement the types of reforms that they want -- to specifically a centralized Treasury Department as centralized fiscal union. And I'd just kind of you know and you're gonna follow the same roles which is not the case now. I wonder if this leads to the eventual strength because you look at a country like hole and they would like to be in the eurozone pity you're looking at Estonia Latvia some of the eastern European countries. If they're they're sitting on the doorstep there watching all this. I I've got to believe they're saying hey it would be eaten you don't wanna you -- wanna go by the austerity measures Greece go ahead leave will be happy to take your spot. It's certainly Canon you know I was speaking to -- that the fellow from. By -- way yesterday our rob let's just named Isabella truth for you gotta keep -- familiar about -- he's in he's -- -- out of money management has his take on it is that he thinks we know you start kicking some of the -- sisters out of the year assault like priest. And it is going to be interpreted as a parking by the market and it's -- be okay good you know they're getting rid of -- still increasing lied their way in everything they've they've been lying all the way through they haven't been following the dictates of the eurozone so weren't they still don't there. -- thrown out and let a country like Poland which is desperate to get in. And you know you look historically not during the last 2030 years you look historically back prior to World War II. Poland had a very productive workforce before workforce say it will that was a very proud country and very proud part of the world. I think they'd love to be part of the Euro and I think they could end up becoming the next Germany in terms of a productive workforce does not at. Its interest in pouring into two kidnapping -- All right well thank you very much for joining us just -- pretty darned if that's Jeff Cox from CNBC joining us today on the financial exchange so Poland let -- I'd -- that's my vote. Bring in they throw out eight these countries don't want to play ball right when I don't wanna lie cheat and steal -- borrow money that they can't pay back find -- out here who -- for closing you're out here I'll bring in Poland. You bring in. You know the Ukraine -- there's all these countries that would love they're willing part of it did not only -- they -- -- leave apply again and not been allowed -- So imagine now if you show some discipline break and you exercise your authority and you say Greece okay. You know you are gonna have to start printing your own currency Greece will become a Third World country. Greece's degree a little bit eluding you already are Canadian and a now they live and highlight can last -- ten or fifteen years they've been living the high life on borrowed money fat pension is not the Rea it's fake it's fake -- now they're gonna pay. You leave Poland you come on that's what I would do. And just some news that just came into you know we're all waiting awaiting the fate of Kathryn -- you know why why he's girlfriend while a judge is just ruled that the relatives. All of the victims will be allowed to give statements of the bush. At this morning's sentences. Sentencing before or after before you know of course this is -- for a packed courtroom all day long -- Down there today. Sole idea but we don't know how many years you've got. No we don't you know I I I guess they're awaiting the sentence in this and misjudged just came out and said. That four people will get out and give the east of victims state. Nancy she's done about a year now right she's picked up the year ago so the -- lawyers looking for two years. So Bennett with time there with credit for time spent aren't so she'd be out a year they're written a letter got lucky if he gets his way but amazing and they will they deal primarily Iran for ten years who was who do you think. I. Yeah I might say hi say five to ten I say five but she's -- lesson for he thinks Sonia. That's got the -- write a book. And so that's an order they'll may be somebody else to write the book but she cannot profit from it up snow is good which has admitted it comes out I'll followup in Iraq and my chisel cannot interrupt yeah unlike a drama down there this morning yes he I have to ask you still using FaceBook. Yes all right our next guest is Eric Jackson from iron fire capital. And he recently took a position where he thinks FaceBook will be did. In five to eight years we're gonna talk to Eric Jackson iron fire capital next on the financial exchange. We got more on the financial eastern right here -- -- W or stereo radio in the. Work with the Boston business journal is your local source for business news and views beliefs that needs movers shakers and decision makers. Get the original business news that's only fans and the BBJ subscribe today at the special advertised price of 85 dollars that's 30% off the regular annual subscription rate. -- Shelby baker at 6173163207. To start your subscription today that 617. 3163207. To subscribe to the PBJ today. Who's looking out for you -- -- Kelly of Kelly financial during the market meltdown we are open Saturdays and weekdays until agents call 888801881. For an analysis. Call 88880181. For a copy of my now famous stock market heart attack reports. Get your copy of the twelfth threats to high net worth investors call 888800. 1881. Calls received in my conscious command for free. Analysis don't touch that dial just. 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Order now and receive a free bottle of nitro boost for improved intimacy so don't wait call now 802352413. That's. 802352413. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- All about money it's almost. You really feel. Well the stock market is an open for almost. Fifteen minutes are we still in positive territory June -- Are her but you know statistically but kind of what happened down right here it. It's not dramatic an area and the Dow was up 28 essence he is flat NASDAQ down to oil is up 56 cents. You've got gold up eight dollars of the ten year US is up slightly at one point 637. RA well aren't yet. -- was that good. The whale slash. -- the whales factually refute text this now it's 68680 would UN number 1515. To excerpt a gamble -- market sex line. Gets a pair of tickets to -- -- -- will watch very nice 1990 dollar rallied some and you and you got a text the word whale whale okay do it now. Number fifteen is the winner okay our guest is Eric Jackson from iron fire capital. And he was quoted on CNBC yesterday saying FaceBook will be dead in five to eight years Eric welcome to the show are you don't. -- so you know what he would like you did this conclusion that Facebook's gonna be a dead company five -- up. Well I wrote an article about six weeks ago and for. Where IE you know basically look back at the history of the web company which is about 1517 years old now I think we start with the early days of big portals like. Yahoo! and -- -- well. And Google obviously and we sort of -- about maybe ten years ago in Q but some people called swept you've got a little. We know he's probably more and more regularly called social companies like FaceBook and Linkedin and other. And but but it sort of I realize that maybe a couple of years ago. I think we had the beginning third generation of the twelve companies which I would call mobile company you are either company go against Graham. But really don't even have web site. Or that or the -- sector an afterthought they're totally focused on there mobile opt for the phone then the tablet. And what's really been you know interesting to me that I look back at these three different generations without. When you're successful in one generation. Is it -- it has no bearing on whether he'll be successful in the second generation. Why oh why is that though we vacate because they're gonna curse to meet our -- you know FaceBook should have the money to -- -- the higher the best engineers in the best computer. Majors in the country. Yeah and and of course we said same thing about Google in relation to social and what do you know they had forty billion in the bank UK -- smartest Ph.D. working for them. You know how could they how -- -- not and be successful. And I think you know what happened to Google is -- first of all the people were running the company at the top. Personal adjustments and missed the boat they missed the way they thought it was not that important no legal. How -- -- but they would stick to their knitting so they kind of -- it could be three years right there. And I think -- and then and then later when they realized that oh -- social is going to be important and try to step on the gas and parking company's. What they what they started the bump into like ink and they still are. He has well wolf Republican cut the competitors and a social space had grown so they get -- -- -- really hard to put ketchup at that point but also. You know to. As as sort of big into their counting DNA at the company you know that there's the whole company was focused around supporting their core business. So we got you have people and it's sorted Dilbert cartoon that people inside there is that project product managers responsible for expanding their core business. And so when other people come along and buy those in company coming in -- that they and we really got to jump on the social thing. You know there's a certain natural skepticism that happens in People's Bank what are we have to do that we're getting the majority of our product revenue from the other bit realizes other conflicting -- -- that important and it delayed. Sort of jumping into that -- it's usually at start up. We know that it's you know existing product to support that they have the advantage of the sort of making the most of these of these new kind of shift and I think this game could happen in mobile. See you feel this way about FaceBook the stock I think is what about 27 dollars a share now -- We what do you think happens to the stock price. Well I think it's gonna have a lot of ups and downs you know obviously part I think a year that it is an enormous amount of time looking you know and especially to technology though. I think you know wait now I know there's an enormous amount of kind of negativity negativity around FaceBook -- I'm expecting you know there's you know -- -- we're gonna interfere with stock as a good positive line. Is that a -- that it value at 27 I can't really say that because it will pay 127 dollars distinct still 75 billion dollar company you and they only get about four billion in revenues -- you're so it's still there's still enormous hype but I. That FaceBook. So you know it's not something that I -- you know we have goes up one day goes down the -- there seems to be kind of no rhyme or reason about. Guys I think there will definitely be kind of a lot of volatility. Especially in the next couple of years and in the pocket they present a different product announcement would try to solve this global problem. Now the united -- -- into watching you make a good point about Google because. They ran up to what 5600 bucks a share and then they've just languished their right they need. You have really since 2700. Stock is that -- Pomp and what was interesting about. You know Google and they went public much earlier than FaceBook yeah so if -- Republican after he sort of got to ride along as Google grew from point -- point five billion dollar coming to a 200 billion dollar company. Even -- it but the last few years with FaceBook. It took a different approach where they they came out at a hundred billion -- -- kind of almost Christ the company's -- you know for the next 57 years and I I. You know. Don't think that there's been a much upside left. Well the the in order to meet their price valuation at thirty dollars a share. They had to grow. At 40%. Per year compound it for the next five years in a row and that's a tough task for any company. You know -- and I growing their revenue. An -- -- I'm way up when companies are going to be looking a bit and and there's so much. Positive buzz and excitement and you know Zuckerberg twenty years old and we think we can do no wrong but it could be -- -- and integrate into very Smart guy but but. Sergey and Larry were Smart guys they Google you know and I think what you know look at what we've sort of overlook it's just that people make mistakes you know and out there weren't a big mistake doctor -- made yeah there's a video. He can fight from eighteen months ago we're used to get up in front of some employees think. Because you know the iPad now mobile yet at this but it just an extension of the -- beat people kind of laughed and then -- -- defend that point of view of but you know that -- you know what when he says something like that everybody who worked for him obviously take their cues from him. Staffing decisions are made OK mobile not important OK let's not focus on outlets focused on the web site that's helped kind of big -- -- company can couldn't be sure. -- it's it's kind of cool though we're gonna actually interview last Scott Stein from CNET in the next segment and apparently what Scott saying news. Apple at their conference yesterday said you're gonna be able to answer a phone call from the FaceBook friend on your iPad is night at -- with. I wonder if -- if maybe there's a lot of collaboration that goes on between apple and FaceBook what do you think. But definitely you know the announcement -- that there reserve much deeper integration between between the apple operating system and FaceBook yesterday. You know like obviously we know one of the rumors that being bandied about others that FaceBook thinking of jumping into -- own business and felt. Because they don't like just being another. Aren't they either apple operating system of Google's operating system they wanna kind of -- In other that are does that mean player -- owning a whole ball and obviously if they did that. Apple. At least it would probably better off the -- you like they have with with Google though. I think I think -- trying to make it you are happy because you know they're almost a billion FaceBook cuter than a lot people -- -- stuff I think but they're they're they're providing functionality but. I don't yet he kind of any indication that it's gonna go you know into a big you know bigger deeper kind of relationship -- -- -- he. We do you have to really does seem like apple is ready to do battle with that with Google you know they they seem to be having an adversarial relationship without Larry and Sergey. Now come and they seem to be warming up to Facebook's -- -- create it I guess that's what makes an interest in her you know watching every day so. It's always -- -- and that's why I mean I guess but it's been a bit at. But the fundamental level and might might call that you know FaceBook not gonna be an important part you -- you're sure now is it basically that. You know people's attention are gonna focus on -- -- in the current -- probably doesn't exist today and FaceBook connect it to be seen as yesterday's news. You know I think you might be -- little what will just have to have you back in five years to find out exactly. -- thanks very much for joining us. I think there that's Eric Jackson iron fire capital. And you know what it does lead into our next interview because we're gonna be joined by Scott Stein. Who is at the apple conference yesterday and they got some cool stuff and they do you really need to hear about IE -- watched part of the roll out yesterday. From the WW DC so we're gonna. Talk to Eric Stein or Scott Stein excuse me from CNET and I think he's did you get me you will watch winner they still coming in with the gifts. Yelling yellen will have. Hello Wayne in known as congratulations you're gonna see big whales aren't they will be right back it's June -- and very Armstrong on the financial exchange. Scott Stein from cnet's senior editor of CNET is next on the financial exchange. Your tune into the environment it's. WR stereo radio network. 68 degrees partly cloudy skies today highs in the seventies on -- -- WR geo news a federal judge ruling their relatives of victims of monster James Whitey Bulger were allowed to give statements. At this morning sentences on his girlfriend get Katherine Craig. Four will do so that ruling before a packed courtroom awaiting the -- -- grade who was a Bulger side for sixteen years on the -- Well don't go to the town of middle -- and swear out loud you'll get a twenty dollar citation residents voted last night to approve the police -- proposal. To -- say two citations on public cursing. Officials say it's intended to crack down on the loud profanity -- language used by young people. The teen whose sex abuse allegations prompted a criminal investigation of Penn State assistant football coach Jerry sandusky is. Expected to testify today at San -- -- trial. And Tokyo is now the world's most expensive city for ex patriots. Mercer is 2012 cost of living survey showing the Japanese capital has risen once spot since last year -- out -- -- Angola. As the most expensive city. And will be back in just a few minutes with more of the financial exchange I'm -- -- WR PM news. 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Men will be diagnosed with prostate cancer. This Father's Day team up with Major League Baseball in the Prostate Cancer Foundation to keep dad in the game. Go to PCF dot org to make a pledge or donations. We're -- we're more -- Derek Armstrong. -- -- We want stereo radio network. All right if you are an apple junkie this interview is for you. We are joined by Scott Stein he's the senior editor at CNET Scott welcome to the show Daria -- are very good. So we learned a lot yesterday. From the WW DC. Tell us about -- -- -- what's going on -- with with Syria she gonna become even better. Well that's the promise and in a couple of away. First of all. They're showing -- -- -- will be used and a lot more functions. -- come to terms assertion that what services I can search through sports whatever else -- now but also more integration with services like FaceBook. In addition on the on the other side or you know people who drive. There's a lot of talk about better service there's four upper -- -- both for on the upcoming turn by turn navigation and does during the integration with bad. He could use your voice to help us navigate. And also that ice free initiative which is you know did it is that a lot of car companies that it -- and open up. Are gonna start building in the past support for the iPhone and specifically -- inside their vehicles. When you always -- cooled -- I was watching some of the material being laid out -- You your ride your if your Starbucks card is already on your your phone right. Right you already do that. And now you're going to be able to get your boarding pass like so if you're traveler you're business traveler rather than having those printed boarding that passes right you just haven't downloaded to your phone you walk through and you show your phone to the security right. Sprint has a -- extremely dirty do this and the fact that I've seen people -- airport you hold their phones up and they you know they expand them. It given you your bar code on you know any email you on your phone. What Apple's doing now is they're really helping consolidate that because a lot of people don't use it -- they find it hard to keep track of all this stuff yeah. And down -- -- was one of these apps that are being built in Iowa aspects. That's going to collect everything from your boarding passes to. Coupons you you know -- -- your frequent user cards your Starbucks card. There are apps they do that already but I do think it's it's important that apple has. Building that in the future because it's bit of hunting for the right app yup and wonder oh what should I be using. They're gonna make it a lot easier for people cigarettes. Notebook will they have it so we you can use you like I use a MasterCard is my credit card. I don't think you have that on the iPhone yet right you can't put your -- just use your iPhone is your MasterCard Kenya. No but that's an interesting question it's something I was wondering yesterday I'm you know could this be the beginning. And I found that mobile wallet you know you look at Google I Google wallet last year. And they use this technology called near field communication. Bat you know it's a little controversial because I'm not sure how people warming up to date yet. Swiping a phone to pay for something if you pick one last. It convenient but it's one less obstacle to. Really add it to be your wallet no so. But it does seem like -- book would be a great. Apt to work hand in hand. Which may be the iPhone 5 being being a true mobile while what you see that you could use that is a credit card or use it to paper things. You know just aren't quite that. It is if you didn't need thank you think about if you had your credit card in your debit card on your -- -- right you wouldn't have to carry a big wall and anymore that got that right I'll look at -- Tell you what what are my criticisms. -- just a personal criticism of the iPhone and I -- the old one the screen is darned small and I compared to a friend of mine has the Samsung with -- enormous screen. When they come out with the new iPhone will it have a larger screen on it. It seems almost inevitable because it's been a number of years now that they have the same screen size. And yet eloquent act on first came out they look like a tremendous screen play and now it is looking like one of the small screens out there. And pocket -- -- it really album with a number of apps that show up bottom of really great visuals. And the people were reading on their -- I think more than ever. It it would make sense to bump it up and it got so much black space right space. Above and below the screen on the iPhone a lot of phone now really make the screen all in a -- at the front of us are almost all screen. So I think that they could expand the size of the screen on the iPhone and not make it too much larger. Win -- isn't new iPhone coming out. It's not known yet but you know we're guessing. Probably around the same time -- the last I found you know it it seems like. Number let I you're rumored October would use your suit which could be October to October maybe September apple -- output is coming out it's tended to come out and battle. Every year on the mark give -- take a couple of months. Last year really was much later but that could have been as much because of our new carriers like Verizon. As much anything else you know the fact that both Verizon iPhone can't out think last February. And so you know it it has spent time for people to adopt that before before last. But this summit that he might follow it makes sense yeah and in need I think it'll guaranteed out because I went back. Is not coming out until all the is that okay so are those you like bonds are gonna come -- violent sex. With -- what's also cool is the they're doing a lot of integration with FaceBook right here -- be able to use your iPad. Two I think if I understood this properly you meet with the use your iPad to answer a phone call on FaceBook right so you can be sitting there. Play any game or just surfing the net and then somebody can call your iPad did -- it is that right. Brilliant -- apple ID to Europe telephone number and you know you use some face time right now it is it can be a little frustrating because. And I've had you're calling -- email. And your phone call can phone number. And the more that they can you not think what does it android -- even the Palm Pre you know -- do great job with. Tying together all of your contact information one identity yeah -- Richard based broker or your phone color based time. I would love to see that it looks like Iowa State is getting closer -- however someone reaches you. They're gonna get she -- you're not in have to look very different app. Define how you get in contact with some understand the message. Does that mean because here's my my criticism of the iPad DEE view you have to buy that data plan that's like 25 bucks a month. Come in and I dropped mine because I would just use it in my Wi-Fi area Friday I'd use my iPad -- homer. And so I I start refused to pay 25 dollars a month. So will we be able to tolerate if we have an iPhone will we be able to tie our iPhone data plan to our iPad. -- -- I don't know about that and I haven't seen a lot of data plans that allow that usually goes there's something you'd like to have -- -- But. I think that you're gonna be able to use your iPad at a Wi-Fi hot spot and really get a lot of the same features now you'll be able to you is that it calls. -- -- You know connect through that -- with messages easily able to do it every single place you go. But yet that's -- hopefully I think carriers have to get to the point we can body. One Kinect is planned and and I've got several device is because it is too much money spent. I am I just think people refuse you know most people I talk to that have a tablet most of the people who had tablets have ipads. They just use it where it went in their Wi-Fi networks and I can add very I had that new story this morning at Verizon. Is actually changing up their plan letting customers shared data usage in up to ten phones and other device that's good. Sold adding yeah yes yeah that includes the the tablets in the -- cool so Verizon's throwing out at the end of the month nice marriage to Donna Blair -- I guess if -- -- -- idea all right let's Scott thank you very much a sure appreciate your insane I hope you'll come back some time. Our thanks all right that's Scott Stein from CNET and I don't know that that is. It is is he gone. It that's -- central and goes up those guys are but -- -- rituals of the -- -- -- getting better getting a supermodel S that we should be dating younger one. You wonder Larry king -- guess he calls them nerds after we hang -- -- and they probably -- out about. I'm out there are being nerd now is a cool thing yeah it is yeah he did those rich guys you're right they're driving range -- your name on you know what twenty bedroom house and I fed does -- it they do come out with a larger tablet. I have -- I have like fat fingers so when I text people. The wrong words come out like unsavory expletive typed words they're not those every now ideally I think he does have the occasional green cramp and I know that's how I got out then he's it's not an answer to tide did in the some four person gets some horrible luck phrase -- -- A -- at 880 up next -- we joined by Ryan Jacob he is the chief investment officer at Jacob asset. Management we're gonna talk about Apple Stock eight APL is -- symbol that's next -- here on the financial exchange. George tuned into the financial extremes here. On the WOK okay reveal that. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Just in time for Mother's Day needs this silver in Tuesday's ailing Joseph made bank. We had everything in the stories half -- and more on Tuesday only. Like old Josephine -- suits and sport coat. 70% off. All executive dress shirts and ties tremor follows insurance door buster priced at just 25 dollars. No wonder they call it Super Tuesday. Fans at least half of all everything you -- a -- Sued sends -- code 70%. 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Or visit us online -- poll I'm modest dot com that's polarized -- allies mortgage dot com. Rates of integrity service words we live. Pull a mortgage group is an equal housing lender and MLS number 1979. Licensed in mass Vermont Maine and licensed by the New Hampshire banking department -- based -- APR three point 05% all great subject to change without. I imagine it's strange we're very Armstrong I -- right here on the WR hill real America. Apple Stock is 569. Dollars a share during the last year. It has traded as high as 644. Dollars a share. And as low as 310. Dollars and fifty cents per share. Some. Pundits would suggest that it's overpriced others think it's a bargain. We're joined by Ryan Jacob he's the chief investment officer at Jacob asset management talking to us today about Apple Stock Ryan. What do you think about the stock -- you don't. Okay good good how are you well absolute. It actually number one position in our US mutual fund the Jacob Internet fund. And they're -- public for almost ten years send it's it's truly surprised is obviously along that time but it's been developed into. And quite company. Now where you attempted to sell it when it got to 644. Dollars a share did you sell any of your shares when that when he hit that price. We do that we didn't sell some shares the last couple of months has been mainly because it becomes such so not only is our number one position was number one by by a large margin and just from Laporte for the management standpoint we determined that. But that it's really no bearing on our feeling is that apple would still very very attractively priced. Would -- what percentage of your mutual fund is apple represent Ryan. -- right now it's probably a little over 7%. How are you restricted by prospectus did as to how much you're allowed to own. Well I -- we are restricted Dell would cost basis that's for positions I just to be. 5% or lower. Because a little larger sizes from market appreciation. Mitt doesn't call for one of those guidelines tell and we were very comfortable with but our position around maybe 77 and a half percent. Okay now. The PE ratio looking forward what is it about twelve to one. Either count about -- that's similar to. Valuations for the S&P 500. -- and the dividend yield now. Is what 2%. I think it's so -- -- now. Shade less so what do you what do you think for new new listeners. Eat dinner are looking at at stocks. Do you think Apple's expensive or inexpensive at 570 shares gone up a little since we talked. We still think apple is there's this tremendous long term investment. Apple has a unique position this being one of the fastest growing companies we know and and also being one of the least expensive as that's that's very usual and you know apple as a track record. The gross revenue is you know 6070%. Plus -- annually. And profits grow more. Overall percent and that's just extraordinary for a company of their size and but once you're able to continue to execute. The end evaluation. You know what those -- growth -- it's just very attractive. What do you think get a -- a big gaffe. Fan she thinks this facetime is going to be a big deal what do you think. I think you know I think I think the bigger deal will be the launch of the iPhone 5 this fall. Mainly because rather than just being straight product refresh. There should be a new hardware design. And it'd just be very interesting to see exactly how. How big these changes are and then how much tries to upgrade my guess there's going to be pretty significant. The EU you're looking forward to the new product like tonight either uses a big deal for them. It is because it and instead of just being a software. Really or internal upgrades so this it's it's likely we'll see yes -- I slightly bigger. Form factor. A little bit of greater screen size. -- -- and features that they just may make it. Really attractive for people may have just bought new clothes last year. Guys like you generally like the stock because of their profit margins in their leader. Maintain a lead over the competition. And they continue to do that with the absence of Steve Jobs. The big question. And you know as of now you know but Apple's. Secrets are just really their technological innovation. Combined with terrific design. And you know apple you know really a waste a pedicure. In terms of that being able to execute it and developing these products that are very consumer friendly. So I think it's a real testament and the products we're gonna see this year and maybe even next year would develop. Still wonder Steve Jobs so I think it may take get another 234 years before we know the full of access is being gone. All right -- Ryan we sure appreciate your time thank you very much for joining us. That's Ryan Jacob chief investment officer at Jacob asset management. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Here's the financial exchange -- Barry Armstrong almost WRKO. Rodeo America work. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Genuine business -- free downloads and turn -- downtime can wait for bills from the phone company to get easier on your bottom line. Of course not it demands a new breed of speed. 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Dare I ask about the stock market -- we -- positive territory early given at all back when we did yesterday -- doing okay Dow is up 48 points now married to twelve. 459. S&P 500 up three. NASDAQ up five oil up eight cents ten year treasury one point 615 gold is up nine dollars and 1605. You know I'm I'm debating about getting this new Samsung -- you know make -- my. Until the fall and get your life or why not actually what's the rush really to the -- I can't see the screen. I try to. For me to 3-D screens on because -- the old what I've got the I get the tiny little screen. Seven anyone tells me that if I had the new iPhone. You'd see that because of the higher resolution. Even get my it's clearer and easier to read -- -- -- maybe is the fact that I've got my I iPhone is now more than two years old. Okay you get so I have before so you can take a look at I would lean left it is a pretty small screen now but. You know like I said the problem I have is what if you have fat fingers -- -- pretty much screwed because. You got to text somebody in the right all the wrong things that's where the Blackberry was nice at least have a -- currently iPhone and he was easier to text and what areas like so 2005. Right now it's gone isn't it here that that's a company that's in trouble. Company that's not in trouble. Well maybe they are it's a it's a it's a company in Waltham and they're called. 81232. And it's a battery company and the they'd they'd come out supposedly with some new technology. And evidently it there must be selling -- because the stock price of a 123 is up 27%. She's an ace on. I should mention that I -- some of the stock close again but it's it the dirt we're gonna have Richard get somebody on from the company. It's based out of Waltham if not we will get to -- Werth who wrote about the company for the globe. But it's an interest like they don't look what that what they make batteries and one of the things that they've. Claimed to have done is made a new battery that will power TV. And it's about half price and half the week. Two big problems car batteries. CDs for the hybrids is that they've very heavy and you take a long time to return like ailing cell phone batteries -- those CIA 123 says they've got to answer that problems will keep -- and we'll cover the story of moral. But take a look at the stock eighty. -- and and it's the -- accompanies any 123 will be back tomorrow with another edition. Of the financial exchange rate here in your -- radio station -- night Barry Armstrong saying good bye for now. -- -- -- reveal when Sam -- protecting you -- radio and just don't lose the money dot com port to free and informative seminars offerings sound answers on how to protect your wealth. Tuesday June 19 -- for no reason Winfield and Wednesday June 20 at the -- Hilton. 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