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What's Up On Wall Street - Cheryl Casone, Fox Business

Jan 15, 2013|

What's Up On Wall Street - Cheryl Casone, Fox Business

Transcript - will not be 100% accurate

You'd have you seen any news stories on the wires about another round of layoffs at State Street bank now what we're getting some tax -- -- died in into the wires right now -- if I'd like to know if there are laying people law in Massachusetts and moving them to other states that. -- like New Hampshire because they're building that new. Complex in South Boston. Some wondering if there it you know getting tax breaks from Massachusetts was I think they had eleven million dollars in tax breaks from mass. And then moving on to another state -- I don't know that that's true but we are getting text messages from more than one person. Telling us that there another round of layoffs at State Street starting this week. In this one is waiting for the tap on the shall that's going to be terrible feel now you can. You know be the you know it's imploding around you right in you're just waiting waiting to get yes forget the terrible aren't. -- that long locked down the hall and all your stuff in a basket. Anyway our guest Cheryl Casone Fox Business Network Charles are you don't. -- he saw a big pop. In Dell's stock yesterday. With what happened when it rally so much. Well there -- purport to tell our report. Circulating. That there are private equity buyers looking to Hugo land had a deal in and take -- private. And off. The public markets and if you have that type of buy out the top that type of wherever -- gonna get a major pocket -- that's what happened happened at 2 o'clock eastern time hour. Yesterday market obviously were out. Lot of debate right now about whether -- went into stories true -- China springer Fox Business he's been talking to his. Investment banking source Western New York -- there's bank is that you can have discussion. And it spent passion every investment bankers can have a discussion with every big company they'd make it. Eighty had a deal it because it's you. I have any type of deal of course the bankers are going to be in the middle of that you know like -- speed department now will they do a deal will they'll do it. No one instead. Backtrack or because they have tons of money offshore right don't they have like like billions literally billions and billions of dollars. Parked in foreign countries. While I mean -- like any US corporations are gonna take advantage of the tax code as it is legally -- and they'll certainly does that their global any -- -- they're a US based corporation obviously based out of not intact those that there. You know. Have to that they have to do that we have a global operation. Big as Dell has been debate obviously you're gonna take advantage of the tax -- As it pans and especially and -- -- when -- got the administration. Looking to attack every one that make went by accident. -- on Wall Street Journal is reporting at the F fourteen point two billion dollars of cash. Held outside the United States so I'm wondering if the buyer of this wouldn't be a foreign entity like today a Saudi hedge fund or you know. Because they -- they eat these -- limited number. Of individuals or even PE guys that can buy company the size adults still even though it's not a great stock it's been if it's a big company. It's a quality company and I mean it you know -- that about a company like dollar means that you're right it's gonna have to be some of the biggest. Names out there that even inhabit the possibility. Of taking over adult but it didn't do you want to pick -- -- not let you know on the onion but. In my lunch -- talking about that yesterday. Meaning you Patrick stop the PC market overall I didn't get real meat it is now I think it is done. And I clicked can ever look at you look -- looking at a packet what they have done it you're -- your packet they have their own problems they've had their -- They're number one -- -- -- -- -- -- market now we can't -- that talent that attractive. Com what do you do with the business. You take it private but -- one and that was my point aghast that. Party yesterday about. -- about the fact that you have a discussion but it can happen in private and equity person and I think twice about. You know -- deal like -- where what do you do with the academic private. Usually take -- company pride because it's doing well Dell is not doing well. -- up front and all of all of that -- challenges then you know I don't. You know I think any anybody that in the -- -- -- China thinking how do we can compete. What apple I personally I think adults to protect personal indeed both -- -- the business community focused on. I had this has been bitten in a company at them and forget -- -- market that's my -- -- because you're not and it they're not gonna move ahead he'll -- where it but you know what I would never to. Never to count. Michael bell not that he's he's you know he's. He's a fascinating. Mentally air conditioner and all that happen and who doesn't like you click on -- I mean he may. Still control their Michael -- Is he still in control. I would think though I mean -- march. I went and Don I don't have an animation and our enemy. The financial the company specifically to have a bad idea of leadership perspective that. -- Very active in the company -- I didn't hit on it. Especially at a time where that the company is turning into account in a walk away from it I think you might consider about it one time but he can't do that now. All right hey Cheryl thank you very much are you -- More news on this State Street story busy week we're trying to piece it together unfortunately all -- able to do is unofficial. News as a relates to states' treatment we've asked our audience for information they're coming back to -- -- anyone tells -- June. Yes there is another round of layoffs coming I work. At State Street they're outsourcing jobs to India. And moving some jobs to Kansas City because salaries are cheaper in the midwest and -- well think about it. In salaries are a lot cheaper rate that you can leave you by house and in Kansas City for a 150 and. Consulate in Kansas City especially if -- -- and raised in Massachusetts and you've been living here and pain pills they don't care I I know that's. My why would -- care is. These people's backs at the end of the day. I mean seriously going to -- turn of the union. -- you think might seem like what outsourcing to. States. Oh yeah. They V they've been doing in the Indian thing for a long time. So. Brain hub of the United States in we've joked about in the past our audience who will dig -- defiance sport. But I'm telling -- in the research jobs high tech jobs are in Boston all the local lower intellect what -- dumb. You don't have to be that's not it just is it State Street is not hub of lower in let people. It's been a lot of the jobs they have don't require Ph.D.s and that's what Boston has become. Yeah well that mr. we have the highest educational degrees right eight highest level of education in the country tried getting. Let's see an assistance. Of any kind of job in any office. Right now you need. A master's degree. That's something that you would not have needed that twenty years ago they wanted to ask you do you remember us talking about house bill 6300. Yes I do in December. Here's what happened on TV there's this bill in the house. And it's basically. You know the people have been worried Obama's gonna raise my taxes Obama's going to. You know take my 41 K plan he's not gonna take your 401K plan. He is going to raise your taxes and he is going to take your house in all the information was contained we gave it out. In December I think we had thousands of listeners who called for this information. Todd let's keep pushing and dole has put together a guide to protect yourself. From house bill 6300 because Obama doesn't want your four point eight but he already has your four went to. He's gonna get 3040% a year for when -- decisions take the money in the form of taxes. Now -- Obama is going after is your house he wants to own your house how is he going to get it you're gonna get sick and he's going to take your house all the information in terms of how you protect your house. From President Obama and house bill 6300. Todd let's keep pushing and dole has put together important trust language and drafting traps that are to be aborted you need. To read this if you have parents that are over the age 65 you need to read this. If you are listener and you're the age 65 this is required reading here's the phone number to receive it it's 781. 5349. 555715349555. I would tell you right now Obama doesn't need to take your for went deep when he gets that simply by raising taxes he gets a bigger truck -- 401K plan. If you raise income taxes would Obama really wants to get in your house and this is how he's gonna do it. If you -- protect your house he need to read this guide it is required reading for anybody who has parents over 65 or any listeners over the age 65. 781534. 9555. Is the number to dial I would call now tell your friends to call tell your mom to call 71534. 9555. Quick note here mark arsenal Boston Globe gonna give us an update on the casinos story. Going on what's going on we'll talk to mark find out where it with the casino stories and even tracking this is -- That's next on the financial exchange.