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And if that's the does that come but I'm Tracy Byrnes Chris got a resigned in an -- like ten hours I was -- -- a little groggy I feel better about this situation because I am a little bit all of these chairs and it was -- As if you're -- Kareem Abdul Jabbar an -- they do it out of her assistant make you like.
Just to keep the heat yeah tones and so -- -- work on -- points and on the market so it's been -- -- the -- And that I would say it -- -- my father's things better than -- sickening and I say -- -- -- down.
Alternate points of the better than you'd expect it not -- -- -- sharp stick and -- just about anything but sharp stick anyway.
-- -- -- I think it's just -- I over this health care bill that cleared the senate over the weekend -- an issue -- yeah.
Is on the yeah -- the -- and honestly -- just not a completely overwhelmed.
I've been hit I would I would -- a bit confusing and anyway it's an -- but if -- given what happened this weekend.
Feels that evidently snowplow which is the garbage truck with a -- -- but that's what it feels like and I feel like right now with this health care I just don't know who to believe.
It was it was actually terrible weather here the weekend but.
More terrible data DC when they voted on this so we have a bill that's potentially gonna cost 871 billion dollars over ten years.
According to the Congressional Budget Office now they're claiming this will be offset by.
Billion in spending savings and 498.
In revenue thereby reducing that debt reducing -- right.
Billion -- exactly I mean adding that that we lost the public we we lose the public option in the senate version.
But we get a higher Medicare payroll tax Medicare payroll tax -- now is point five.
It's gonna go up to point nine on more people and this was my most favorite part of it and digging and I could not stop talking about how now.
No Botox tax 'cause we heard this on Saturday Rick Jackson's dentist inspect this -- rate for me -- A 10% tax now on those of you who use indoor tanning bad.
I think they nabbed by the way is is it right now as well Botox is okay and have many studies that say bullets constantly being upset that I say I rather good stuff -- You look like a simple thing what but it's not -- you going Botox is clearly dangerous I mean we know for a fact.
No UV tanning bay beds are class one carcinogen this is fairly yeah.
Yeah we know birth act because it cancer causing -- -- tanning fanatics of the world we'll tell you they're getting into tanning bed is safer because all -- back.
And raise our outlet a lot of very very.
Respected medical professionals have said that is not true.
Class one cars and in who -- who does this in the in his the American Cancer Society.
Who rates these -- whoever does it it is a class -- carcinogen it causes cancer.
-- raise taxes on cigarettes then.
What did not we sort of we what we already do but it's not a lot of money it's up.
Miniscule percentage what the rest of the world -- in attacks much money did raise if you raise tax on cigarettes.
-- it bought a pack of cigarettes by the way I've never out of a considerable good thank god I'm -- but if you buy a pack of cigarettes in Europe if I don't malvo -- it literally says.
Like -- killed in.
That's that are wanting to states to get a little warning label like a little sampling only -- attacks -- every yeah.
Huge huge block an -- -- I -- -- and they still -- mess by the way yes well anyway.
So we'll get to what caught my eye later about this bill I guess because the -- by -- and the whole notion of buying.
Votes it drove me insane and I have a list for you name.
I have a list for you raise capital of the market right now though it's on the way president away capital management joins us right now from the -- needed -- were up on -- eleven points on the day.
I'm sure you like so many other investors out there and analysts really believe that this is going to be.
A slow week a slow remainder of 2010 -- this is sort of a nice day in what you see as being a sleeping last couple weeks of the year.
Well it's a great early Christmas present that's for sure right I would say that customarily -- -- -- is pretty -- I would agree with that but.
Like the real question is is what are we looking at as we begin next year.
And so what -- look at that what are your expectations for -- ten.
Well you know the I think a lot of things come back to the emotional market right now bluntly there's a lot of concerns that I have about the credit markets.
In the capital markets in general availability of cash and the willingness to put their money to work.
And so I guess -- that is cautiously optimistic about an economic recovery.
But I am fairly confident that we're gonna see as we emerge from this economic malaise a lot of volatility in the market I think that's going to be from the -- we look at 2010.
What other role looked at the the -- is gonna play in this whole thing that certainly hasn't from senator lately.
And as we move into 2010 all the concern is when will they start to wind down some of these policies particularly about raising interest rates what are your thoughts on that.
Well I think they've given themselves into a very tight corner really having really before we really get economic recovery we have to see the consumers join him.
Net interest rates I think you're gonna have to stay low to.
Motivate businesses to make capital improvements -- all so.
To get the consumer really involved in the long term I think it's.
-- That again lenders in general being -- to be careful about their lending practices right now.
I just I don't see them the the movement of capital in this economy at the velocity needs to be really -- fundamentals.
So where are you putting your clients money -- these days are you Al are you in cash or are you it's trying to find opportunities in this market.
But you know I've been in the style for 25 years of -- -- capital management we really don't believe in market timing we believe in diversification.
We've only been looking at fundamental value I mean if I was gonna pick marketable securities -- like healthcare like technologies in particular.
But frankly where we see the greatest -- -- are off the radar screen.
The most marketable securities and that is kind of in the direct investment private investment where you see up -- To acquire debt acquire real estate and make capital investments in some emerging companies.
Are you know the typical investor out there -- talking about that that the the last group of and investments that you're -- -- ethically.
No real estate side so much unknown how the president is meeting with some bankers tomorrow to talk about commercial real estate and some other things very risky is it.
Well I think you can't be I mean you've got to know where you're going in what you're doing but.
You look back -- episodes like this in the hit in the history of this country particularly the savings and loan crisis in the -- -- -- that was created in the week.
But the -- the savings and loan debacle with the RTC.
And frankly it's times like these in the private investment sectors.
-- if you go in and you very very careful about the transactions you wanna make you can find such tremendous value.
That actually sets the table for the next five to ten years but I guess I would represented in true value again.
If you're selective about what you're buying if you go in and you purchase assets that have.
For example -- real -- quality tenants under long term lease.
The debt structures in place for a long period of time.
You're able to get some things right now that you get some extraordinary cash flow on.
And you're buying some of those properties that sometimes 50% or less of replacement cost -- -- -- again.
If you believe there's an economic recovery underway.
At some point real -- has to participate net.
And if you're able to buy some of these that's it or loan against some of these assets.
At relatively low loan to values you're getting some of the best value I think that you've probably -- your lifetime.
Yes Don though that it becomes a stock pickers market and we've heard about for a few months now that -- it's it's not sector by sector it's really picking company by company.
Did very hard place for the an individual investor to be these days though so we're coming in January we might actually have some people getting some bonuses god love them.
What -- they do with that money.
But again it I think the market is got a long ways in a very short period of time.
-- oddly enough you know a lot of people view this is one of the most difficult times to make investment decisions.
When in fact it should be one of the easier types everything out there's been stress tested you can see what's healthy you can see what's not guilty and why.
I just think you have to look for fundamental value right now and you have to look at the things in the economy that are essential I still stick to blue chips right nonmarketable securities.
But I like health -- and I like technology and things that nature.
Things that we're gonna need and things where I think money from corporate American from the from the US government.
There's going to Florida few -- but I still come back to one very basic white.
Your best opportunities right now in terms of valuation are to buy some of these loans from -- from distressed sellers -- that is lenders.
By realistic and distressed sellers those are in remarkable opportunities right now.
I'm quickly -- -- I was ranting about the Health Care Reform that passed over the making you just said you like health care is it because.
We no longer have a public option on the table from the senate or is it just the sector overall -- it's very shaky ground for this whole.
Whole slew of companies going forward.
Body I just I couldn't agree more with that I guess you you -- very much have to be selective.
Inside those sectors as well as you make those acquisitions.
There's going to be winners and is going to be losers as we come out of this.
Health care in general long term care of those types of things I think in the long -- we're gonna make some tremendous investment opportunities health -- sector is not gonna shrink.
The health care sectors going to expand.
And those -- the kind of environments -- you -- deploy some money into without a doubt.
Don -- game in 2010 that might change your mind about your investment thesis heading into the -- Well then there's a lot of things that scare me right now I mean this is -- kind of witch's -- that we've never really experienced before is very different golf.
-- really predict what's gonna happen I just say that.
You're you're gonna see buying up these I believe there's going to be a lot of volatility.
As we come into these kind of environments anything can happen I want to be clear on that point and bluntly speaking I don't think there's anybody in this world that can tell you.
Within a thousand points -- the market's going to be six weeks six months or six years and now.
We're just gonna see a lot of volatility going -- just as we have it every instance that we commodities kind of recovery faces and just look for those buying up things when things drop in beat.
Judicious and take your time as far as deploying them money I believe there's going to be a lot of -- -- -- ahead.
Don the way president have -- -- capital management.
I say quickly you're added.
And finalist in 270 -- for I'm harassing young's entrepreneur of the year award from what your current business.
Well we have a very -- we capital management -- very entrepreneurial environment.
We're not just focused on stocks and bonds and things of that nature but really we look at hundreds and frankly even thousands.
Literally billions of dollars worth of direct investment opportunities where we can go and we can evaluate these companies -- a fun little bases.
It's great it just.
It's gradually because it usually is that it's it's rare that a financial services company is on their list so I was happy to see that and surprised at that as well Don thank you for being with us have a happy -- holiday.
That he obviously to side of snow over the weekend -- beds that tell the -- is going to be with us when we come back with a talk about the impacts.
On retail this -- Did you know for me.
Flat -- foxbusiness.com live don't forget to download that fabulous apps for your iphones you can watch us in Cleveland Ohio got that would -- city Cleveland Browns just recorded set an all time and -- record particular preference for types and I know you want to hear that eight of them no one's ever done that before I even.
You know was at Kansas comment.
Our house without atmosphere that ballet -- information first someone.
Did somebody out.
-- -- we snow on the East Coast we had rain in the south of wicked snow up north.
So did anyone get down shot down to -- is here Christine -- and -- tell us what happened this with.
Supposed to be super Saturday wasn't so super.
I'm missing no it wasn't.
Traditionally this is you know the big thing we've talked about the hourglass -- -- for holiday shopping how -- -- -- -- it's really big.
That would have been in the big fat part of the hourglass so I think it was a really rough time for retailers and bottom line I don't think you meet these sales not online -- in his today you -- today.
-- so you can talk about that when retailers have to do to try because it is now you're at the point where OK we already had -- -- that we can net four days to make the most of those -- -- use every day really counts.
What do they do -- this week.
They either need to gearing TU -- you'll get your purchase by Christmas Eve and that's gonna cost a lot of money.
So remember free shipping isn't warm night because I was fashions that are gonna have to offer.
An exceptional deal and get to you on time or are offer you an online gift card.
He surely is thirty print out and figure -- Can make it back here and if current plan.
Well you could easily say there was no amazing and elsewhere I was on fire.
And today yeah that's happened since I.
But I also solid companies even like pottery barn -- extending their coupons.
Because he would he couldn't get to the thirsty using over the weekend -- they're saying hey we're gonna give -- couple days and that's seen coupon and also be aware of the retail greed fair because when you walked into retail stores.
Now that you're actually physically there they're gonna reward you with a little something extra under the trees they might -- hands -- 25% off 30% off.
Our -- it won't be as much as last year from -- different ball in the last.
We talk about done the online -- doing well are doing better benefiting from that we're still not just talking about Amazon -- into -- talk about target's website and -- -- you -- -- Retailers that also have brick and mortar that do a good job on line as well -- right so did those that have that sort of.
Delay of shopping won't be heard as much -- and it's funny because one of my top picks is J.
Crew and if you look around out there they actually have quite a bit of exposure to eastern seaboard you would think oh god -- -- -- All we're gonna get hit but they have an exceptional direct business which is 25% of their sales so yes to -- -- companies that have a -- to on the and fluid Internet business will also gain market share and that catalog and remember that catalog like.
Does it still come out I don't get it anymore as they're still let's talk Mickey youth culture and I don't I saw that ticker catalog for the first time in college event and we want -- -- -- -- well it everyone at least aware that barn jacket.
All anybody headlines every casinos and it is and you wrote asking us yeah I was pretty Democrats yeah I couldn't I -- -- my G.
I guess -- -- I was doing good.
-- Bibi is not doing so I had hair on my naughty list but many and then guess the kids again this is doing great right and even on a phenomenal let -- I think so why -- now.
Why do we know peavy had a really rough time with bet the ranch on party dresses and as you know you can't brand -- party apps and -- to go to parties.
-- had no parties no addresses but an -- At castle some -- -- we know all yearlong certain retailers.
Have done well they'll -- out some have not Abercrombie & -- have we seen a reversal and in this in the holiday season or is it is the continuous -- those who haven't haven't done well we're still not that it's been naughty list and the nice and -- they're not folks are continuing to get all of a columnist back and.
The good folks continue to be good.
And that's what week at war in -- a recession or in.
Precarious retail times best in class prove themselves why wide gap on your naughty list.
You know I have really had a rough and notions about the gap for a long time people think it's turning around it brought in Patrick Cox I brought in all these new designers.
And -- and plan ahead.
But then again it's not special product and it's really not low lights.
That to me it's very young.
Not special and very war I thought ninety this 1969 genes are supposed to be priced right get them back -- looked great in my opinion it was a knock off of Joe's jeans at a better price point they looked great -- the eight.
Got a little bit of a pop format.
The only saving grace for the gap.
It can worries that share price and turning the stock around in my opinion is -- -- -- be -- largest amount of real estate.
So if you see a pop panel mini me back to lift the stock a little bit but for talking about just gap in -- -- I'm I'm kind of negative on -- doesn't.
Snow event like this to have an impact on Home Depot and -- on a positive nature because you're buying snow shovels and snow blowers saw that a little yeah I was that a little overblown because it is just an isolated event if you haven't done already -- you're going all right -- After it's a good point I mean always think about -- it's the consumer in terms of what the need that they don't already have yes or salt -- he can't get there.
Then how much is yet but then there's somebody like me has to shovel her car out and and keep in mind she doesn't really do that she -- -- somebody.
-- happen soon but that being said I didn't know I know I didn't I didn't I didn't have clubs I've worn my sense clubs which by the way -- -- you don't.
Love -- else still like summing like that now senator Snowe you wake idea that if there's winter are people gonna start going out now Mike coats hats gloves deaths associated got a couple days over Christmas kid needs no pain and that's what I said Sox.
Underwear necessities right so here's an associate 30 here's new gloves and spoke up -- for Christmas that itself foundation.
But he was in -- predicted a 1% decline -- -- data which is a disaster after earlier I love god does and they said.
This snowstorm didn't impact that they're still looking at 1% decline -- -- -- from 1% decline to 1% you know up from last year which is still not great what are your thoughts right now.
I'm I've always you know Tracy -- has been flat to down so -- down percentage point I'd say at least one.
I don't think it's going to be great holiday think most folks actually were shopping for Christmas shops already have been personally now.
On their amount of shopping with the amount of money -- get all your long as early Halloween.
Does Amazon when the -- last minute.
You know I expedited share on -- clever -- -- a question on Sunday you're probably the same way my Blackberry went off with all sorts of email promotions right -- Sonoma pottery on.
You know LOB Amazon.com -- doing a free two day shipping on Kindle.
Which is you know if you can think of any hot gift that's kind of sort of a hot gift for the book reader in the family in I think -- definitely benefit -- got.
Definitely benefit also Wal-Mart too they're hitting some really graphics.
Now do Barnes & -- say what a giving a hundred bucks if you don't get you -- can time it.
Can't that -- doesn't you don't get -- -- time so they're trying to get enough area.
-- -- acted out of box anytime the tell.
The block out the -- dot com Kristen -- -- at -- date on what's going on -- him braving the weather and traffic.
Are we got a good in DC now Dick Patten president of the American family business institute is with us to talk to us about.
The other thing that -- -- me last week and this is -- attacks.
Dick right now you can giant 2010 and do your family will do little happy dance because there will be no estate tax and this I gather makes you the American family business institute pretty happy.
It does for 2010.
There is no taxation without respiration.
Investigated started it if it -- this is for 2010.
But now we have the obviously we don't want XP eight.
Expiration so to speak here so how we deal with 20112012.
And -- what is gonna come back in some form -- fashion.
It will it absolutely will -- if the current laws left unchanged while we have.
No taxes at the time of death in 2010.
And 2011 and then goes to a permanent rate.
With a one million dollar -- pollution.
What we're looking at is is 2010.
Is an opportunity for us with.
-- to negotiate with congress to come out with a long term solution on the estate tax.
Where the ground zero is zero for the very first time by the way since 196.
Dickey got I think realistically about this this is not going away there and -- and it.
The amount of revenue they get from it the whole notion now -- days that everyone is down on the capitalist down on anyone that has any money in the coffers left.
They're going to this is going to go forward so.
He you gotta believe the best you can fight or is.
A lower rate higher exclusion as you said it's coming back 55% and a million dollars I I can't believe they're gonna allow that to happen.
And I also can't believe they're gonna allow when he tend to go.
Tax -- and then definitely gonna do something retroactively.
Now -- know to be honest with you the Democrats are already talking about.
Retroactively hiking the death tax in ninth 2010.
From zero to 45%.
And that is probably going to be our next battle.
But the fact of the matter is when you talk about revenue.
The the best projection is that what we're talking about with the death tax.
Is one half of 1% of the federal budget -- the fact of the matter is that still quite a bit of money.
But this is not a budget buster the flip side.
We hired doctor Douglas Holtz speak and former director of the CBO to study.
The subject of the death tax and jobs and he -- if we dial the current estate tax from 45%.
Where it is right now to zero.
It will lead one point five million jobs to the American economy.
And if there's one thing that is important to American families right now it is jobs.
Well why is that why don't the -- see that I guess this is a question that I have for a lot of things is how can it be so parents.
-- the same time lawmakers who are trying to create jobs left and right and even.
You know available would spend fifty billion dollars more to create more jobs you have a tax cut right here that seems to be pretty in plain English and yet nobody seems to really see it.
Now you're absolutely right you know first of all the estate -- is confiscating America's most productive capital.
And we are talking about something that has an enormous jobs impact one of the things.
That absolutely amaze me is that so a week and a half ago we had on the one on one end of Pennsylvania Avenue the president was having his job summit.
And on exactly the same day at the other at a Pennsylvania Avenue.
The house passed a bill to permanently -- the estate tax to 45%.
The only reason why the estate tax is.
Going to go to -- because the senate failed to garner sixty votes to be able to do that.
Right and and that's the part that incensed me last week when we talked about this is that they got all you talk about this.
And they wait till the very last minute they can't come to an agreement and now here are the these poor families.
That don't know what to do and don't know how to plan for 2010 and I think that.
Is the worst part about this can you -- tax rate or my gonna get hit with some sort of rate I think odds are good you're going to get hit with some sort of rate.
But it it makes planning very difficult.
-- it really doesn't put puts American families and particularly business and farming families.
At what we call the -- -- Tate at the roulette table of death and that you know what's going to happen when you -- who knows what can you plan for.
But here's the one thing this really important to remember.
The death tax is the hurdle the families have to go over if their business or their farm is to survive.
And when the government confiscate half of their capital each and every generation.
It destroys businesses and it destroys jobs.
Dick is part of this that confusion as to what really is the middle class and what is not because -- I think.
We constantly hear the president say you he will not tax the middle class and yet at the same time attacks like this really in many cases is the middle class.
Because you're -- a small business as opposed to an individual yeah a million dollar exception.
May not be taxing a middle class individual but the business it certainly does and -- Is that where the key sticking point is or should be that exception if that was much higher would that be okay.
Well you know the exceptions of course will always help that -- usually what they do -- they help the the very very small businesses that don't require a lot of capitalization but if you stop and think about it.
-- on an average well fitted machine -- has thirty million dollars worth of equipment.
You know small sawmill has forty million dollars worth of equipment.
A medium size a trucking firm has fifteen million dollars worth of equipment on the road and so when the estate tax comes in and let's say they give them.
All -- -- a three and a half million dollar exemption and then give us 45%.
Of everything else that your worth.
It literally destroys these family businesses and the jobs to go along with them.
Dick I'm with you although.
Without the -- estate tax you lose the step up in basis and that could be a big game changer for people as well especially stock is being passed on after years and years and years but people should know.
Your estate tax is on income that's already been -- so it's actually a double tax.
So maybe it will go away Dick I like I said I'm not seeing it because they seem to hate all things capitalism down there but keep fighting the good fight that you -- President the American family business institute Dan in DC thank -- Dick.
-- that just the -- thanks for having me show today thank you did finish I just do not understand why it has to be.
One rule for everybody I mean if you're a millionaire individual.
Com and -- it's just that easy whatever you have your investments your savings whatever the case may be -- both your cars your house that's something different than if you.
Have your money.
As he said you know -- the capital goods -- -- machinery and what not to run your business why is at the same thing well.
And his point is a good one because it's easy to come up with you know it's all of a sudden have your business valued at half -- million dollars million dollars because of all the equipment.
You know the people want a -- billion zillion dollars they can hire the best of the best to shelter money they're not the problem.
You know over Paris -- of the world it who cares.
It's the little small business guy who's coming up on a million dollars and he's gonna -- business on and lose half of it to the government and that to me is the -- Well you know speaking of the government -- government health -- on the brain all week Richardson does season DC right now right rich.
What congressmen and women working late last night the senate of making a critical vote early this morning.
Where does that leave us now with trying to get some sort of a bill passed in deal for sure by Christmas.
It's that 1:30 vote from this morning is fantastic indication of where we stand right now there are sixty Democrats on the record who support this bill.
That's the bottom number they need to get this done they will get this done most likely.
When you consider all the procedural hurdles are gonna have to jump over in about Christmas -- 7 o'clock right now is the -- looking -- That could always slip because in congress everything always slips so.
It's it's on let's say it's a foregone conclusion because nothing is ever foregone conclusion we still do have a handful of procedural votes left.
But I would put my money on right now that this thing gets through before Christmas.
Well what are the things we talked about on Saturday though which is.
The dichotomy between house bill and the senate bill they have so much to come -- -- -- away to come to a meeting point between revenue raisers -- -- mean public option original public option.
A lot of this -- And to be made between now and Christmas Eve.
Decisions and constituencies first of all look at the abortion funding restrictions the house passed a very strict measured -- -- or to restrict the way.
Abortion is funded in this bill the senate couldn't get that done they had to go with a different type of compromise and right now.
Those who supported that measure in the house don't support with the senate did that something they're going to have to get there how you pay for this bill the house opted for the millionaire's tax -- senate.
Has gone to a tax on the insurance companies for their most expensive plans that something.
That unions can't stand because those expensive plans are typically.
Had by union members so that's something that they're going to have to work out one has a government run option other one does it.
I mean these are big issues but you have to imagine it Democrats are going to get this done.
You have to look at the model -- just happened here and that was in the senate version.
The liberals had to take a hard vote they're the ones who had to give up.
In the end when he came to begin to -- negotiations and that's probably going to have to happen in the house are they're not going to get this done.
Very interestingly it's thanks -- we appreciate it thanks for SS which gets on top of that as will be all week heading into this potential Christmas Eve vote I love that the second question.
The other point is how we get -- pay for -- hook up.
As the question that we've been talking about it for nine months and now we get to that question once again.
Having a -- we're talking about two.
Diametrically opposed -- I mean these things could not be more different.
You -- a how are having a market -- coming -- this -- -- -- little happier because we're up 117 points obviously many market moves -- moving iron Charles -- is gonna join us as well don't go and what about that tanning tax.
I love the boxes dot com live hotter and burns got a market that's about a 117 points and a great way to start a week that everybody thought -- -- -- we -- gonna continue to kind of a far -- on the street.
Little bit of economic data coming up early tomorrow -- and maybe something from OPEC they're meeting Angola a mob -- Other -- that.
Short week holiday not a whole lot going on but yeah we're up on seventeen what's -- this month.
Love you know we had them -- -- -- have.
When that I believe it or not I have one down for a 117 points -- no surprise -- Walgreens.
Fiscal first quarter earnings rose 12%.
On strong what you -- you like that but there's always -- but.
This concerns over high unemployment the economy will it continue.
Drag on November sales through mid December actually -- -- grace of the stock is down today yet let's see yes doing pretty well it's exactly that a lot of those they're they're winners and losers in that space I mean is it the way I might be wrong on this but any Rite Aid -- -- kind of struggling -- -- can't get it right.
CBS so you can get milk an aspirin and you get you'll CBS card to get -- -- in your site you don't then I.
-- -- basically representing health insurers today as we've been talking about.
US senate comes in some historic vote because -- They bought off Ben Nelson -- voted for anyway at least -- -- it occur in the senate version there's no public option though the insurers -- -- they might have a win on this.
They're all up today so Cigna Humana Medco we'll have a nice little -- it -- exactly.
Apologizing to 500 leader as well as -- Dow leader today hit 52 week I'm looking Stanley upgraded them seeing aluminum prices are shown a tight market.
Can continue that way so that's good for them.
And that don't fear the Chinese exports there they'll be just line number two Treehouse Foods they announced the purchase of -- foods.
So got a little lemonade on on the buying private label manufacturer of hot cereal powdered soft drinks you've seen them you know -- -- earnings as well hot cereal.
House Julia powdered -- haven't drinks LA like crystal light has that unfortunately pounds the powdered saw things like pop rocks Tina yeah.
Can they burned your -- -- -- you wanna use those with softer street.
-- -- and yeah -- players coming up.
Yeah somebody die from them male I don't know I know he's that that's the sea Eagles might even -- apple sells certainly throw it out to sell -- up.
I didn't do that -- just heard about that but what else moving did you burn and -- else is moving.
-- -- -- Sanofi said they were going to buy the consumer drug's maker for at one point nine billion added that 35% premium and boy that's -- you know southern company got a new dialogue.
Tennessee Tennessee company actually is a great the world's fifth largest consumer.
Health -- company measured by product revenue so -- -- market movers.
That I think -- -- Charles Payne is here with this shows me ask you about -- that this seems to me like -- -- by.
Santa build submitted Johnson & Johnson is it to get into a nice little big consumer products -- It is in that this is -- they've done a lot of deals like this over the years militants are saying now it's another -- where an American company being bought by by foreign companies and and you know -- talk about the slot America being herself and it's happening right under our noses and what happens is the blogs is that the Chinese who don't pay a lot of attention.
But these stills has been tons of them that one point nine at 2.5 billion dollar bills.
-- -- -- -- People work in in America companies owned by foreign owners actually make more money than their counterparts.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- But it does it does worry me a lot that so many of these -- over the last several years have gone through.
That's a hundred year old plus company to chatter that's -- company has been around forever it's gold bond it's icy hot a lot of products like that so it's it's a good it's a great American.
-- company with great American brand and I don't have a great product line months are all together so you could see why they're doing it.
Well it makes sense it's just that again you know this part of me continues to worry about all of these great American companies for so.
I'd seen got a few stocks that you like today let's go over the first one here CL and eat most of -- -- -- new.
Potentially future great American company clean energy.
To natural gas plant and what they're doing is that that they have they have a couple things that they like to cut accomplice to stock is up a little bit today and news.
That AT&T is actually retrofitting its 460 of their.
Fans Ford fans to take.
Natural gas and is that T.
Boone Pickens playing but by the way and -- and -- -- -- tonight.
And -- gonna be on the show OK and I saw definite chance to talk them about this but I think this could be a Grand Slam.
We start to use natural gas and hit.
This so I -- -- one has been listen let's just take the trucks.
Forget about the cars I mean hopefully one day will be at that point we can go home and turn on natural deaths of -- the car.
Because the -- between now and alternative fuels there's got to be something in the middle you know we're not gonna flip a switch and go from gasoline to solar power cars so.
Right now we -- -- this focus on trucks and it makes a lot of sense and there are a couple of bills making their way through congress right now in the house and senate side that can help from a lot with this so.
I think this could be a huge gigantic when he.
-- been struggling with all this though.
He's got a lot of push back on this he's invested so much money and he's certainly not -- -- any rewards just yet.
Well you know it's this is tough I mean you have a lot of people who are against any sort of in any sort of natural fuels but we know what's in crude oil he makes a fantastic point.
How much money do we -- out of this country every year we've got time to natural gas it's much cleaner than crude oil and it's much cheaper and crew go what -- security purposes it's always safer when our reliance on overseas prior oil okay awful last week the big deal of the week was ExxonMobil may be taking the red steel except.
There's a bill in congress and may stop fracturing which is you know you cracked these rocks opened a lot of people congress don't wanna do that type of drilling for natural gas and eight ExxonMobil so that they.
Passes building won't go through this bill but they're willing to change their entire business model and make it 55% natural -- and and that's why they worried about getting the -- votes.
And it's an election -- enabling I make their they'd kill -- fell to make -- -- -- something like that I mean you know what's in the may fly in the appellation that I don't know why because listen -- -- and then revelation -- -- fits me.
That may -- -- list for like a day or two.
They may actually stop a certain type of mining for coal which is gonna cost -- coal companies about three billion dollars to preserve the may fly.
So this stuff is real -- and how that how these stocks moved though since that Exxon deal because obviously -- Internet stocks ahead of -- said that even at all of that no no no this is only now.
This is one that that you can look at a couple ways I mean as I don't know they had the big enough audience to be a good trading stock -- -- get.
But you know we're talking about sitting here a year from now I think you'll be up significantly and this.
I'm stunned jump into his last because I like it if the tickets tied TI eat a titanium have been.
I love this play big and really why do I do because I don't think we talk enough about titanium I think it could be your next big metal used in a ton of stuff.
-- -- -- Suddenly -- take on our last week from -- blowing and stuff like that so we know planes -- top line yeah I don't think we talk about how.
I think -- that I really believed to that this is an idea that sort of tied to the to the notion of a global economic recovery.
And I think it could be tepid but I think it will be there in and I think that the company and of itself has been poorly it executions terrible.
And it's not one that you buy because they beat the street all time -- -- missing a lot earnings estimates have been moving in the right direction is -- one and I usually like to look at.
Although I also know that this is one that when -- breaks out it becomes a momentum.
Played darling I mean when titanium -- to take off.
The thought probably can make a huge huge move like.
30% in a matter of months most -- -- that space is it crowded space into an amateur so there -- other competitors.
Yeah we got Allegheny crime eight TI yeah yeah I don't know we're actually as well and that's really tied heavily to and our guy our guy international.
Yeah to some of these tablet is it just Itanium because I know you look at this for example look at of people Mac regularly -- -- -- right -- there's there's there's if you're play higher play on is a pure play.
Look at what else -- and it's -- -- it's a it's a chip play.
Acted pretty good today technically it's gonna make a break up to fifteen well actually.
-- fifteen takes about six and -- -- any thoughts and that's the real test that sort of being the double top.
It's a company that's turning the corner less -- the reporter was in line which doesn't sound too exciting but they -- big time the two previous quarter's earnings estimates edging -- to make light sensors optical sort stuff.
All the things that we use GPS games dvds.
And again another stock over the years that when it does get hot it can get extremely hot in go globe.
It's had a nice little a year but it's competitive from space right Texas Instruments analog devices I mean isn't big on sending them there wasn't on money yours -- Yeah they are big they are big.
And I'm actually hoping to and I don't talk about -- allowed to perhaps to be some consolidation.
And maybe this could be one of the inquiries but you never want to mention that as your primary reason for giving more than aside that that's gonna get picked yeah I -- -- to -- people who do that I.
You've got to shields Donnelly is going to be a day stock shipment yet we have we want everyone watching sending your questions let's talk about stocks we're gonna have Matt McCall who's a great stock -- fact that.
Made money off when his ideas recently so.
Body of all that but he eats you got it like you in the Georgia department.
-- you -- do have this huge -- game and I got it and there is a 70% on that -- -- I'm a student of the market them open minded very hot and not paying my swing and then his stock ideas because of -- have a lot of -- it would it would on the center on the sending you develop these court order to the -- from that but on the that beautiful mind will do that there's this in the apparently crystal he'd bring -- But for -- Because of everybody felt that -- -- all I have -- -- quick break we'll be right back.
On the back foxbusiness.com live trees -- Chris -- it's 1240 on the East -- 940 and the west good morning to everyone out there I hope everyone on the East Coast.
Was safe this weekend and it worked out.
Nanny came down hard Saturday night -- in the south we had a whole weekend of weather mess but we do have a market that's up a 117 points right now.
And we are going out to sunny San Diego where they did not have weather issues this weekend might -- -- -- -- -- founders of bright scope are with us now to talk about.
401 -- and the best of the best.
Mike Ryan thanks to be with us.
Thanks for -- minister thank you -- some might start a -- tell us what great scope does and how you rate these companies.
Shares of -- -- as an independent retirement plan ratings and investment research company.
So we basically do is gather information on tens of thousands -- -- plans around the country primarily quantitative nature.
So that we can try to rate the quality of these plans on things such as you know the quality to invest -- menu.
The level fees the company match and things like that.
-- -- -- difficult to do it from a quantitative standpoint as a Mike was saying because.
You might investment selections might be completely different from Tracy's even though in the same flow and -- -- and I might not do it in a very Smart -- and she may be diversified and do it very -- how do you.
-- had to take that into account.
-- right it's very difficult obviously due to look at a point keep -- holistic people we try to do is try to figure out.
At the -- level we aggregate across all the partisan in the Clinton is this plan going to get its participants to retirement.
Com and really yet look at everything including some factors that.
Our petition directed such as the vesting schedule in the eligibility -- -- design structure of the match.
-- so although we like to talk about investments and a lot of investors on the decisions that impact the outcome oftentimes -- -- company level factors that really dropped out and most importantly.
Mike why did this what's the purpose of the site aside from -- have really cool list if you're number one.
Well I mean listen the former Kmart is absolutely humongous.
By our estimates as close to 55 million Americans that have a plan.
That represents almost four trillion dollars in assets now and it was absolutely shocking to us.
We first looked at this marketplace and realize there's virtually no independent third party data out there to help the average Joseph out there figure out whether the plan was good.
So here you know you look at a company in the midwest of 500 employees that is ten million dollars in the plan try finding out even -- -- of information.
About that plan on the units our mission was really to make that information available that -- the marketplace because this is now.
The primary source of America's retirement savings it's that important.
Ryan -- worked for a bunch of different companies in I've had a bunch of different swollen case and they all pretty much look.
The same to me when I Soledad that a number of options I choose it.
A conservative approach shed little more aggressive here in there how different -- -- in case from major fortune 500 type companies invest the worse.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- If you look at the investment option some might be using a retail mutual fund.
Found some might be using a collective trust which has a fraction of the cost of that scene mutual fund even if he's an exact same manager.
-- of the differences -- differences are large.
On the matter to participants -- -- -- all too often people to say you know I have a point game plan and we really want people -- -- saying why have a good following key planner and -- -- -- -- -- go to work.
-- the list intrigues me because we have the savings plan of Saudi Arabian Oil Co.
at number one.
OK I get that Schwab is number five but you'd think fidelity would be somewhere in the top -- and it's not and they run most were of one game plans out there.
-- certainly you know Fidelity's plans.
Might be great say if you're a small company you wanna start your first phone -- on the war really -- here's how good.
This Fidelity's internal plan for Fidelity's own employees and for whatever reason they might not just be able to be as generous as a Chevron.
Aren't ExxonMobil or even -- United Airlines pilot plan.
Comments -- what we're we're not reading the quality of -- investments are Fidelity's retirement.
Plans -- this offer other companies were rating the quality of that experience.
For the employees actually work at fidelity.
But I agree with you there are some interesting things that come up when you really look over -- list.
-- by rights I worked for IBM great company.
Stock's been doing great on the I'm very happy with my job -- -- stated for the rest my career but maybe I was night.
-- -- wasn't 28 ranked that was it was more like seven the -- looked and I didn't mean is that that I can do right.
Yeah obviously right now with the way the economy is doing the job situation you don't wanna be doing too much -- rising -- your employer.
But certainly if they're some fundamental things that IBM or any other player can do to improve their plan.
Your goals is to make sure that your plan sponsor -- administrator of that -- -- aware of those issues is aware of ways that they can make their plan better.
On the list like this -- -- ratings like we do really helps.
I'm all partisans really understand in what factors are important.
And how kind you know what my plans sponsored you know make my -- are aware of those -- they can focus on them for future.
-- energy companies I gotta say -- big winners here.
We got ConocoPhillips in the Chevron ExxonMobil all the top ten BP employee savings.
Textron Valero Energy I guess I guess it's good to work for a company that's got.
Big bottom line.
Absolutely I mean if your company's very profitable you'd hope.
That they would be sending some of that money to you.
And some -- profit -- whether it's directly through a plan like this sort with a better health plan or any number of other benefits so it's more or less what you would expect to see.
But it if you don't have a quantitative measurement to do this.
It becomes political -- see the same companies that are well loved and well respected on the top the list rather than the ones that are actually doing a good job of getting their participants to retirement.
It's about really focusing on this as a quantitative measure I think we've -- -- a lot of politics you typically see in a best of list.
You -- we got to -- you Brothers.
Yes we are looking like recording every day.
That's correct we both have different skill sets when Mike strong -- a little bit weaker and Armstrong Mike -- of the leaders we we.
Who work really well together I think the relations actually got stronger the more -- got over the years that's a good is that.
Unless your momma the crowd tonight right now been -- as a bright steps and -- -- sunny San Diego thank you so much for joining us.
Thank you thanks did you work with -- siblings.
Mom -- I live with my brother when you're in college two years younger than in your college roommates so we are very good friends so -- I could definitely work.
Although it would have to have clearly defined roles that you do this and then I'll do that don't step on me and violence that all of you are you that's similar that you would be -- at all I think that it it would just be he would be more irritated with me that would -- pick pick pick up.
I think that's what it would come down at the end of the day.
I've sort with my brother although I would say do it because he says do some well that's fine I mean you can have any pets and I'm in -- -- -- stretch whatever you want -- -- -- you -- -- call me.
Mama I colors tell -- got -- -- my eyes you know we have all these people talk about jobs and restrictions and certainly be.
The FDIC actually has employment in strict the restrictions that -- people don't know about.
No we talk about the Financial Industry Regulatory Authority regulating who had about how you can pay people and all this will actually the FDIC has some restrictions to.
For example on -- -- maybe you can you couldn't have been arrested for certain crime at some point time deal in -- past that and honesty type crime.
All these things go into it -- -- of Bank of America Merrill Lynch employees.
Basically got the ax after it was deemed that the FDIC.
Came in sadly we violated our hiring restrictions and those of the point of the matter is this -- more people lost their jobs -- on holiday season which.
Couldn't get much worse than that -- -- You've gotten out to regulatory authorities.
With different rules about hiring have these banks that used to be on the investment banks that are now bank holding companies so -- L and what rules that they have to follow into the -- people it's more rules.
And people that basically you know thought they were hired in good shape a new job.
Now on the sudden somebody else -- -- your books.
And this person this person this person got to go well and -- conflicting and it's almost like the hypocrisy at the end of the day -- finally live and I don't like it I'm sure that you know be -- obviously hiring a ton of people but this is -- impact a lot of these other.
Particularly the investment banks that became bank holding companies.
When -- was handed out and basically a financial system was changed forever.
It's on our website if you want to read more about that actually foxbusiness.com to -- out fairly straight road.
And mountain I would go to break we got ten minutes left will be right back.
-- next month is not a lot -- -- of 107 points on the market today so not a bad data such that we can shortened -- closed Friday.
Because of the Christmas holiday half -- Thursday.
Is that -- And don't.
Don't forget -- special -- -- right here at noon on Thursday you don't want to miss that alright here's something else you don't want to miss a subscription we all need one of those and Lori Rosen managing partner black Sox.
Is here -- don't confuse with black rock it's black side.
Exactly other good -- good -- where I had Al this is something that Tracy had both we first saw we thought.
Sox commodity -- Sox -- really simply levied Islam by Sox first of all I need pint size that I lose Sox a lot of vehicles and my -- a lot so all these things combined to.
-- your service and of course then there's a hold -- eats it -- always look at what so what telling what the Sox corruption would be from blacks.
-- we got it right because.
There's never a good time by Sachs facing -- it.
So and then when you're looking in the morning for that brushing and it's dark he can't find your -- another problem.
About ten years ago in Switzerland as young with entrepreneur -- Was at a business meeting.
And it was Japanese guys and afterwards they went to that -- ceremony took office shows many had this looming hole in one fact golf.
And he was young and trying to make an impression -- kept thinking about the whole rather than that.
You know -- not doing that kind of circumstance.
Or embarrassing moment led him to form this.
But -- dot com.
And it's that stock subscription service so you sign on and then automatically three months later eight months later whatever you decide to do in terms of -- Atlantic.
Back come the -- or -- planet -- itself.
And so I 88 buying.
Stockings and I was looking around for an idea here as -- Chinatown my own heard about black facts which is already established and very successful in New York.
Literally caught up and said I -- -- this in the US it's too perfect for the US market and demand you know obviously.
So -- -- -- Now if Charles were here he would agree with me socks you know generally black socks and and dark navy subs -- great for any city you have a candlelight grace document one -- -- -- -- side but not to like this and as they can never be lighter than the actual closed the suit.
You Wear brown shoes all the stuff.
Don't expect do you have different all different kinds of sizes it is.
Black and -- now thoughts streamline black we have need facts nasty business flights to and Kashmir for the sophisticated man and I don't score and also these short surety is they're -- there and split up the dead -- All over sports you know soccer -- and lacrosse -- you can see the young kids wearing his shorts and a mean.
And we don't have you know -- originally when I first -- -- here we -- -- yet you have.
Lighter -- you know that.
You aren't -- think -- -- -- just glad that.
Than not are you making money so far and it's just black so there is so black and feel the -- the court if you men and women.
Not yet although winning I'm not -- these.
And about four years ago the customers said.
Well we love your -- If their convenient can you bring us something else.
But in on some men's briefs the opening an office the man's undershirt focus on the campus that you Edmonton Sox to -- the recent understood but not blue stuff sound -- black.
And then we don't think it.
So anything can -- and we have 40000 customers worldwide.
We have them from 74 cut countries.
Popular in France Switzerland Germany US's number four but now that I.
Launched it officially here and and you know marketing everything and outage on the Fox News and now that it got.
I shouldn't Disney are going to less than eighty just sound like the next logical progression.
European men are very happy the black that's never gonna be another business yet I'm essentially -- -- get the market first with with our black faxes and it's just -- -- -- little clear case that Alex has not Souza now.
If -- played on the second shows up this very cool box and -- a streamlined and that's.
Whether I detect whether I decide three months eight months whatever I want it just comes have not sure replenish is itself.
And now with it and having -- corporate clients because one -- the that we used to do and out of the banking over the shoeshine guy around all the time.
And if you want one anyway he always here anyway so I'll do it so if you are thinking about -- -- -- never think about socks you come around and they say that you bless -- and we're -- -- -- -- -- I mean what I acted -- is.
Get companies like Google that bill will provide services for everybody in -- make deals where.
Any sort of employees of you know tech company -- again anchor whatever the panel we have -- on C I blue lights flip flops here's how that might have been -- -- -- -- good thought in my.
-- -- -- At all on the go -- -- and now they are wearing black but about the good what I mean there is.
There is just them it's a simple concept.
And you can't like when you don't -- -- think about money it actually -- a fabulous Christmas gift to give somebody a subscription it's perfectly as thoughtful as it becomes three times -- you know keeps coming out of it -- the website would be let go and -- lack.
That's dot com -- -- -- you know and you're making money.
Well the company overall very profitable in the US.
We have about 3000 customers so far not yet and it doesn't them.
It's a lot -- to make it successful and when you have me on next year yeah.
It all and becoming at my limit me landing iMac though that I got to move into women's Sox athletic way that would that liked him Sox they've got that -- got the -- and what we haven't have brought you right we have a short black hair there.
Then and can and can't tell you I had kids like them they Wear black and yet they were went -- to nice the way I used to a black Sox yeah.
For football yet years and years ago probably does right now the contrast between my white legs and those blacks on the Pentagon -- -- -- -- we have a little accident on thing yet.
Is cool actually there may so maybe next year when you come back -- navy for NASCAR and white and a lot of.
It's really -- -- be if and when you do come up with navy.
In big block white letters on the top of the foot so that nobody can Syrian issue and enemies put blue and black because -- telling you all all accident -- fellow who think.
Yeah yeah kids now so you if you do that that's the way it is so that's.
-- -- -- -- -- Hope that she righted things on the -- that's what works so well and then.
People don't like.
On the type of marketing support post marketing study show that less -- more sales.
Another -- looking confused need to have.
86 different -- -- Obama can't lift the the F five and you have a good you know I would I would agree with that especially when you do it meant what he urges.
It fit the neat thing.
I think we think too much about things and -- -- available on the stock subscription haven't asked you please actually it's a really nice gift.
If I if I knew people that -- -- other than yourself I don't know I would give me that in fact that he's looking up from it we should thank you so I'm guaranteeing that you know left.
And -- here -- -- TV and whites at the pump up.
They got to go get a chance to -- legal -- -- Managing director black socks black Sox dot com and there is some weird.
-- and holding it down and there's -- mystic thing about what happens when you -- the Sox in the drive down I really it's this is eight you know -- happening for generations.
They disappear my new -- that my kids eat them when their hungry because I can't imagine.
I could lose so many Sinai actually have a little pile way of all the one Z yeah we don't know if that.
When I lose another one that I look for a companion -- and if I find a companion for themselves they keep the ones he's.
When I lose the next thing you know -- I'm just a -- description would take care of all of this wouldn't do it may be right next.
We'll see you tomorrow everybody with -- 108 points not a bad day it's never gone.
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