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-- not playing off this time you think is watching us from his bedside as are the Olympics on -- -- I don't think they're under the days and maybe is watching us.
About -- that it from his iPhone app.
He can be added -- -- -- -- -- -- he may have T good that's amazing hockey game so we'll have more on that a little bit actually -- I heard those very keen and only caught the end it started early -- -- vessel the beginning of the checks in Russia which.
Displaying outcome for me but the US -- great.
Great finish does it make any of that American if I admit I have not seen one single solitary minute of the Olympics now not one -- to catch -- negative.
Well here's -- -- by the time you get to the end of the -- don't watch -- haven't -- I know who won.
During the weekend sometimes a little easier throughout run around the kids and you come back and you may not know who won -- a but but that's about Illinois you're right and eat it I go out of -- way to not find out sometimes and you still somehow particularly in this business you see it headlines by it.
-- -- -- They don't even know anybody Miller -- so great to watch and got on that mountain yesterday in the guy's amazing.
Yeah straight comeback story after washing out to Reno is back and he's.
When one of each gold so I would really nice to examine a sit down and YouTube -- -- White.
Moments if he isn't here he was genuinely nice guy but -- a lot what does have the the past couple Beers and generally not submitted in the -- -- that's seen him interacting with people and he's not on camera.
Necessarily equal amount I would have loved to seen him and head and shoulders literally above everyone outside on a hiding get a perfect score but it was so much higher than everyone else that that's what I've heard so I do have to watch that but -- I will say I think.
I've been a little bit -- about it a little more excitement in the markets today to down seventeen points not a lot of movement either way.
People are back you know last week you know was the holiday for the kids a lot traders were off their -- and you know at least around near New York City area and I think a lot of people were on spring break elsewhere as well also.
-- we've talked a lot about lackluster volume at least there was a reason for it there's not -- this week well at -- we -- actually had a lot of guys were out I was trying to really that it -- -- deal -- the other summer's day deal they still the air biggest in making that basically the biggest.
Well company out there yesterday the -- the oil services and eat ya I was looking at the still today and Smith International not a household word to my name I should say yes hi -- -- the -- there.
But their profit margins are huge and you slumber chasing it -- -- contracting a little bits of their find some growth here.
On the company doesn't have too much debt on their hands indeed the growth projections for Smith are pretty good days like drill bits it's fluids it's not the sexy stuff but.
You had that Schlumberger is -- businesses we have drilling down into the earth or into the you know to via basin off right.
US coast to have to find a way and also be in the oil -- business or natural gas show business the people oil or natural gas in -- Drilling and into the earth so you know interesting -- necessarily need all these parts -- although -- and so they don't have to -- Smith -- and had joint venture with them anyway.
I'm so -- you bring it all in the house and to keep the profits and they are going to be huge now the question is will they get through.
He has big government scrutiny it seems that way early on anyway.
Merger Monday might actually be back but it left to Chicago now and you Fitzpatrick director of investment at Hinsdale associates joins us.
And here is it still freezing out there.
It's a little better today actually it above thirty degrees routes which will definitely date for February.
The reason I ask is because we get your weather sites that you're -- 52 -- early weather report for people like us.
Still we would just so we have a little snow last night he may have -- on Wednesday night -- -- don't kill it now.
We were just talking about the slumber Jay DL mergers potentially coming back.
Are you seeing some signs of life in this market or is it just it -- you know another head fake.
No I am seeing signs of life definitely I think the low interest rate environment.
Really makes it possible for it really strong companies.
-- -- -- some -- -- day to.
Make some deals and look to expand their lines of business yet strategic deals look like there yet don't order of the day right now you -- a lot right now in the DNA deals are done by private equity over the past couple years.
A lot of bad -- still trading you know you get a premium right now people are can -- concerned now about the inability to service its debt -- -- to be able to sell some of these companies.
Back onto the market IPO market still remains pretty close so far this year.
What is the outlets are we gonna see these guys coming back into -- -- -- remain strategic.
-- 23 years ago I -- a record.
Well I think it is going to be more contained and much slower.
To get those deals done especially in private equity.
And the -- loan market so those areas I think.
You'll see a pick up there may be later this year I don't really see signs of that really improving yet I think it's more right now a case of that.
The big large cap companies.
That have a lot of cash -- that strong balance sheets they're the ones that are really looking to do these deals.
So I think I think we'll continue to see that.
Given the low interest rates but I think the leveraged and that the -- markets are still going to be on the sideline.
Wherever I was sent -- another -- been anemic.
Are -- scary -- are we going to see.
People come back what's it gonna take for traders to get back into this market because otherwise.
It's very hard to believe any kind of upswing or downswing for that matter when you don't have the -- behind it.
That's right and I think a lot of the individual investors.
They're still on the sidelines.
People are still very Kostis about this market.
We saw that last year volumes were low.
They continue to be low right now I think that there still is some hesitancy.
There's a lot of -- still on the sidelines.
Money has flowed into bond funds more than stock funds.
And I think that the -- volumes another sign that.
People are waiting to see if this recovery really has legs and Andrew you know a lot of -- So I go ahead -- -- -- to cut you off.
-- I've met and it is gonna say that this stops and starts still have people basically on the sidelines in a Lotta Lotta ways yeah 9% correction here to start the year just from people auto safety you know go back into the stock market.
-- a lot of people I think and when you're absolutely right we're still seeing the money going to bond funds yet.
If you stop and think about -- interest rates are gonna go higher and the Fed signaling they are going higher may be sooner than others thought.
-- Wouldn't make sense that people should be moving you know -- of fixed income because we're gonna start seeing you know bonds under some pressure here.
Well I think that the Fed did on Friday say that they want to keep interest rates low.
-- they haven't signal yet that they're gonna raise rates so I think in the short term you're okay and bond funds.
But but we're being -- is here as we get later into the year that you're right interest rates are gonna go up slightly.
But that will affect bond funds especially as the values will get hit there.
So I think -- -- -- in -- weeks but still for bonds and fixed income.
But I think you should start looking at it possibly slowly migrating.
Back into stocks who we think.
We can we -- have a decent year in the market and we're gonna have pulled back that we just saw those will continue it will be a choppy market.
And we attempt to break but quickly what sectors and where in the equity market do you like.
Well I like a combination of sectors that -- -- -- sector still like technology.
But I do think you need to start -- rotating.
Into some more defensive areas.
Like health care.
Safer sectors that pay good dividends.
That are little more defensive but he still should have some in the growth areas for.
For these -- in the market that we've seen the last we could to.
Yeah and then sync content about 2010 -- the dividend so that might be a good place to be injured Fitzpatrick director of investments at Hinsdale associates out in Chicago thanks for being with us.
Thanks for the weather forecast.
And isn't snow oh boy my brother's in Chicago so I call him to -- with -- -- two days ahead.
They're saying -- on -- and there's your proof -- it's warm.
Not for long.
It warms relative to its -- in the -- here.
It's cold I had it.
We get -- -- Miami we have no joke we'll head back -- -- here.
-- -- -- Stay with us.
-- -- -- -- -- -- And -- gears here a lot of over time yet.
Let's -- We do the work I was curious is that look look I secondly -- -- in Ottawa we got to go warm first few illegal I wanted to go get back to warning people pull up pull Robertson in Tampa.
CEO of Robertson financial group with us down in Tampa.
-- be warmer than here Paula right.
It is today I've got to tell you it's a little bit warmer but we're headed for a called -- and I are you know back to the cool weather what's called a fifty half but at the well -- cool I didn't called that called -- is down and berries and a hat and that.
But first and I'll try to have to say it got to go back and watch on why my neck golf isn't credible on the half -- Yeah I am I am is amazing I am I swore I would and I well because he he's certainly is impressive.
And like I -- and we he has that little he's also very cool off and a really nice guy.
And well I thought about he's got a -- laws that come into effect today go ahead received.
Battle over today I come up about it because I don't think that -- -- lack of a lot at the end of the day I think that you know they limit interest rates on consumers but we're gonna get hit six weeks till Tuesday.
I'm every other Fiat -- that there -- these companies can come up with.
We get hit -- every -- and -- I think the consumer have to be -- today that today today.
And maybe tomorrow wouldn't stop talking about credit card reform I think it's gonna be here this day.
But I think you know some of that reform is good I think I was a little bit too -- we can talk about that.
How lab are today you know as you -- credit card reform doesn't -- back and your credit card statement it's gonna look very different.
Is that a good thing is it gonna be it a better present and in what way -- -- -- it will definitely -- be about a president well here's why.
When you open your credit card statement what you're gonna start seeing as how long it takes you to pay off that bell and that's going to be intrastate.
The American consumer each person at about five credit cards one of which has 101000 dollar on that.
-- out let's say somebody has 5000 dollar on the credit card.
It's gonna show them on -- stay mad.
That at fourteen -- fat it's gonna take back a decade to pay off that credit card.
Therefore that pay an extra 2000 dollars -- -- And I think the consumers' are gonna start.
Watching that and be more cautious -- about using credit card yeah they're gonna be effective -- just downright depressing.
Well could be a little bit of practicing.
And that maybe -- -- it at some deep ball down.
It's a reality check to the consumers that are using -- credit card.
But the reality check is to the credit card companies because I'm telling you the credit -- people can stop you lose using a credit card.
And these credit card companies are gonna lose billions of dollars.
-- estimate is that in the issue will move about twelve billion in revenue a year because of these new rules.
So we know they got to make them up somehow and sure enough they've come up with plenty of creative ways to do that -- that.
Yeah very creative ways you know we've already seen it through -- an interest rates have gone up 23%.
I'm in LBs have gone up across the board you know I've got a story without a reporter -- at a reporter off as just green means.
That -- he had at have to be one of my clients receive the 495.
Dollar -- -- credit -- This for the credit -- person and she's not gonna take -- and nor the American public gonna take.
What can you do to protect yourself frog it meaning -- you -- -- you have to shut down one -- and switch to another -- Are you gonna have better records -- any different recourse and he did before that card act took -- fact.
Yes I think that there will be some -- -- -- and there are some ways to protect your -- so one of the things that you have to do to protect yourself.
If you're really gonna have to start -- statements and people kind of got I wanna open and I wanna -- what I did.
Of a Christmas that you've got to start doing that and I think once you do that.
You know -- you gotta be careful about changing credit cards because that can change credit scores and I won't get into that to match.
But may be doing balance transfers.
And we're gonna see a little bit more of that happening.
And then I -- again really creditworthy people.
Are just gonna go straight to -- I mean cash -- -- at poly fat at some level -- all right now that the interest rates down.
But I think we're gonna have a -- to -- an amendment to debit card.
We're seeing it already in a lot of it had to do with the fact that people can't get the credit cards they want credit cards are not a credit on the are not issuing debt anymore so people have no choice but to go to cash were also -- that they're paying off their credit card -- is fairly quickly.
Because if there's a choice between your mortgage spin and your credit card.
You Peña credit card because you can't buy food with your mortgage -- -- your back on your mortgage and you're keeping your credit card up to did that again.
-- the banks right they can't get their interest payments.
Two things -- -- head on the nail on the had an accurate one thank.
There's a credit card out there that had 79% -- that's astronomical -- look at it.
The second thing is I thought somebody on Saturday and she said you know I'm having trouble paying my mortgage paragraphs are making -- 100000 dollars a year.
I'm down -- 40000 dollars a year we know why that happened.
You know due to you know what these credit card and an accident and she's being -- every day to pay airmen in the Allen.
-- that high -- 8200 dollar and they said you know eventually gonna throw you out -- what -- they candidate but -- rather something I don't think that you have.
They're lying to this girl and she -- -- and she was -- spot on.
And I tell that -- keep sending that 200 dollars you know interest rates.
Have gone -- and that's the minimum payment have gone after about 4% and we can we gotta be cautious and that's.
Mark can we expect to see that trend continuing interest rates going and just lastly if you just quickly tell us.
About any predatory changes in store cards.
Well cards are may be a little bit different I think that isn't just right they'll still got a lap.
I mean this is a great act and you know I want to say that the one thing at the administration.
Maybe talk about the act a little bit too quickly and we sit and -- that net a lot thinner.
And I think the last thing that we need to say is I think yet to be forewarned that you'll awards are gonna start going away and that's -- app that.
The credit -- per -- while you.
Absolutely -- and then in order to have.
If by chance you're late and you don't get your rewards.
They're driving your feet to get him back now so -- -- -- these are gonna show up all over the place pull -- CEO about recent financial group down in warm Tampa.
Thank you so much for being with us to talk about all that they -- Not to mention that the have a great day thank you to the -- if you don't use your credit card that's disgusted that the -- the the editor in activity -- They try to be good you just hold it for emergencies and -- and you -- -- would see if you don't use it.
I think the only good thing that came out of it is that.
They have to stay -- -- and I I think it's a thousand feet away from college kids in God's hand is good they are on my campus when I went to school and maybe -- -- -- -- right everywhere bacteria.
I get a free Snickers bar on the had a class -- sign up -- he's pizza that's what we got we got peanuts and cracker.
Title -- cops will tell you that when you're a football game or something never ever sign up for the free jets towel because a lot of times some of those.
Names and addresses your formation you fill up finds its way into some unsavory characters hands that's had one of the top scams yes.
On that's not go looking for my jets ally -- me pay for it.
-- -- or you'll pay for it later -- -- in my informing I mean -- outside the games this guys ever hawking you know that the credit card sign up to your free towel lawyer you know.
I don't finger or whatever and just keep on getting it.
Then at -- -- level of purple and -- springtime anyhow I think it kind of -- I don't know it's kind of in your face -- thing.
Think that both the whole point everyone notice right.
Then Jan and I have come out of that speak gonna talk economics talk and -- to -- -- the web page.
Do you have -- can we -- -- up to they have well there data.
So so what is this about right is that what you're you're curious and by the way you're dead right on credit cards that's Elizabeth Warren over -- she's our inaugural interview about economics.
Did an interview with her got it about ten days ago we were talking about the credit card changes that are coming out.
She districts in new one to Wall Street the banks she says that this is the biggest and these new regulations the banks Marty figured a way to get around them.
The credit card we'll just absolutely -- he says well for instance the fees you know.
Even better here's a way to put it.
It's going to cost financial institutions issue about twelve billion in lost revenue.
Credit card fifty million people credit card balances are paying over a hundred billion dollars a year according to Warren and the Federal Reserve.
In just interest in fees -- lose twelve billion from actually it's about 120 billion.
Come on pat -- for them yet does have a -- average credit card industry is 14% and going up.
Hot and well and I could -- can't get a took -- so they can't raise your your fixed interest rates right without for twelve months.
But they switched a lot of the rates to variable rates that are going to be tied to interest rates going up -- out so.
-- we talked about some Marty I'm sorry Robin this scares me this is like sub prime -- -- break.
Hey this is that well look.
-- I -- we've got a -- Elizabeth -- she has nothing nice to say right now about Wall Street she says nothing has changed none of the rules have been put in place to keep the kind of disaster we've lived through.
From happening again here's Elizabeth -- in our own words.
The astonishing or at the huge collapsed into often.
-- in him.
The same rules on -- just the same rules on credit -- the same rules on checked over -- every abuse.
That was a functional -- up and creating risk in the system.
-- -- -- So Elizabeth -- very critical photographer did a great job on that interview -- And if you wanna see much more but Elizabeth one has to say go to foxbusiness.com.
Will link -- to the top economics website.
She talks about it's not just credit cards that she's furious about the banks get away with -- essentially murder he has and says my -- But she also talks about this woman grew up so poor as she talks about this that her parents they would Koehler age group in Oklahoma they pitch he describes -- her mom would -- -- She would be running a fever and -- -- we pay the doctor what we -- because if they had and -- go to the doctor she talks about that.
She talks about being furious with people like Jamie Dimon.
Because he said remember he said we have these you know boom and bust every 510 years -- No we didn't we didn't after you know -- the 1930s up until about nineteen in the 1980s.
And what happened in the 1980s -- talks about this.
These to have essentially use three laws.
In the United States and congress removed them essentially congress and the states -- The amount of interest to -- could charge you -- credit card from a -- is -- about 18%.
That all went out the window in 1980 in the 1980s and look where we are today and by the way one last thing.
March 27 1970.
Edition of life magazine I brought this to warrant.
The cover page of that march 27 1970 life magazine.
Talks about the coming age of credit United States it shows a guy on the cover hole it's an artist's drawing holding a -- call -- America card did the article of 197040.
Million cards outstanding average monthly balance a 185 dollars 78%.
Of people with a credit card.
Did not pay them off at the end of the month and the banks knew that and they talk about it the way to make money was to keep people in the debt cycle making the interest payments and it says in the article.
Americans then thought credit was -- CNN.
But charging we seek and athletic called in charge cards and look what she -- -- status orange and pink outfits and -- a printed up the Yang -- -- you.
You're getting actually comments on the boards about your wardrobe but in -- that -- -- that -- on the bottom -- of things looks great.
Bob -- -- on the if I can come back to the use very laws she wants them back does.
She -- she got it okay.
This is very interesting she does want the back CN she wrote a book in 2003 called two income trap.
And she actually says in the book one possible solution is for there to be the -- -- certain laws still exist but -- they've been circumvented by Supreme Court rulings.
But essentially to have congress or local authorities cap the amount of interest that can be charged -- United States.
Essentially use three -- that's one solution but she's very very serious that the best solution in her opinion is not -- three laws.
It would be for congress to create a -- consumer financial protection agency she came up with the idea by the way the -- in getting congress but it's her baby it was her idea.
She says that would be the best thing to do and give that agency.
The authority to essentially -- down some of these tricks and -- she talks about.
That credit card institutions in the banks do they miss a payment guess from thirteen to 25%.
But I can do that and they can't do that he had not anymore not anymore but but they can charge you a fee.
To get around those things actually you know I think it's look -- that we let the country every now and then -- -- tattered iron -- feel fortunate to be able to travel really far -- -- -- and stuff.
Use your credit card because needed to sensible thing to do when I get carded a lot more get a good exchange rates used to be investigated -- -- -- -- in even greater chance to do that.
It's going to be overseas transaction -- as well -- and prepare yourself for the annual fee to come back it was gone for -- -- Back collapse of the annual fees that banks had to think about you know again and -- pitch in this -- -- economics because I'm just amazed -- that -- people open up when you -- one on one with these Elizabeth -- we've got people coming -- -- -- The MGM.
The the CEO of MGM mirage.
We've got an interview he's want to appear on talk economics next week.
He talks about this is a CEO in this -- so straightforward and so humble what are the last time you heard a fortune 500 CEO say.
We were living bond.
He and his wife and kids an excellent cars they they cut down he talks openly about this they cut back he said on this kid and says hey we're gonna rain it and it's refreshing but.
Never well we had Sam Moore the rock and roll legend -- guy sold them hold on I know interviewed him over the weekend he's coveted top economics.
What are the man say he -- singing.
This isn't and that Dave -- the rock and roll critic calls the greatest soul singer alive today the man who gave us sold and The Blues Brothers would exist without this -- had he not -- and it was advocates who wrote the song but.
He says he hates singing of happy say that what he say that he said.
Because he he's been cheated.
He feels cheated out of royalties and money by the music industry and he feels that today's musicians and a lot of the music managers and those people are all sellouts.
This is the kinda stuff people open up to -- in the top economics interviews it's not just the bottom line CEOs talking about their earnings and but but Elizabeth Warren.
Fascinating and if you work on Wall Street.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Personal responsibility with credit cards but then she says but nobody the United States even if you had spent irresponsibly.
Should have to be cheated out of their money and that's essentially what she says banks and Wall Street are doing they are cheating fifteen million American family.
Yeah check it out tell economics on foxbusiness.com.
-- thank you very much a link will be there at.
Adam -- interview with Elizabeth Warren who is the advocate I think for all of us little people.
To -- industry there she's awesome she's bitten.
Yeah I think is only person that is there held accountable to -- -- she's our little lock stock and she's not little but it.
-- -- -- -- -- -- -- -- All right welcome back to Monday edition I'm Bob foxbusiness.com live bed and market stripping a little bit lower but.
That's what this call my right now but I think Tracy Byrnes console -- -- your Ryan's little -- precedent that.
I really that's just every day we tipped up reckless Memorial Day right I don't love breakfast I'm not like the girl that want to go to the diner on the weekends and get the big breakfast like him yeah but I love Brooke I know a lot of people actually in my kids in particular elected them out and I -- -- Coming -- -- the knees and just.
But nevertheless because of what's going on we're actually seeing the recession.
Eat into breakfast sales believe they're not getting -- -- a few things going on right one.
Money's tight so Brett is an easy -- to eat at home I'm a big fan just -- fashionable cereal so there's that.
Also to people unemployed they're not gonna work so that whether or not stopping for breakfast on the way to work and that has -- -- big dent in -- in breakfast sales.
So who's hurting.
All of them everybody Wendy's McDonald's on W dot no well that get a bang for your buck right.
See although I will argue till I die that a box -- serious it's just too bloody expensive I think fourth five dollars from Syria as a don't you think anything.
But Chris Connor actually onetime noted what Clinton is I was at Denny's is giving out free practices that's true and -- actually said you can't believe how.
Appreciative people -- to get a free meal because money is that type these days -- something people.
But we got unemployment up 10%.
Overall breakfast traffic the industry saying he's down about 4%.
And again the trend is that people are eating home to save money or better yet they're just they just don't have to be on the road at 6 o'clock in the morning to go to work -- have to drive through -- drive them.
Drive and through the -- you know by the -- the drive through that and so the dad -- -- -- -- -- harassment is look like it's big and at a time and here's the other people coming like Starbucks and others going back to having breakfast and and and I just is -- that we had a big candidate for awhile and meet up until the recession started 64% sales increase in breakfast breakfast sales according to the NPD group but this practice session.
Because it's just look at -- better.
And you're right it's interesting because you'd be mentioning it softens -- -- -- McDonald's and I remember.
0708 its earnings reports McDonald's breakfast were -- -- it.
Then they stuff come up breakfast to start talking at the coffee was doing well yes.
Yes and that that's a difference you think about it you know.
And you want it it was talk about -- can now with a snack they're almost creating another meal right because you're not you have to reckless anymore you're out in the middle of the day maybe so stabbing for a snack.
That's curious don't hold yielded no well.
Great to bring up some long way some bacon you know mommy -- nags are.
Before jumping to say I had a play about what's -- -- -- that's what.
Good to baby you know regrets I overheat that's my problem I can't go to the diner and not order everything on the menu and then I don't really doing anything all day long so it's an unproductive -- activity counts -- additional weighing in from mom my home state North Carolina -- populace didn't even make that little yet know -- -- brought the box and that's right that's right that's right.
We Aaron coo for cocoa puffs are right where we digress unless I tell my -- there could remove us all the time that I would have -- about.
Well and he is day now and it actually was up now -- stamp -- profits soared to -- he shrugged off week.
Advertising market recorded a big tax benefit and the reason -- caught my -- is because.
Everybody in their mother's -- diagnosing themselves these days right and he hit a strip.
Do you think he's gotten it done to anybody -- to -- about some new ailment they have and they figured it out on the web.
Nevertheless better for women -- and indeed moving today you want to let remover it is moving -- also raised its rating to buy from hold.
These CA and -- I had to.
Bring to your attention because I learned something this morning its ticker is wolf WOO at -- but that was very funny.
It's up it was up when I left my desk about one and a half percent it was down almost 5% earlier again the stock is -- -- today.
They operate veterinarian diagnostic laboratories.
-- -- Well this golf club the ticket shares and that's -- -- your shares fell Friday.
After they -- some recent acquisitions hurt their margins but it has since bounced a little bit back.
Quanta Services up.
Now this sticker is PW -- To an -- tell me how fire power on these are just unknown I don't know why I'm impressed by early stickers today.
Provide I provide contracting services they deliver and -- that networking solutions.
Fourth quarter earnings fell four point 4% but this utilities contractor be guidance and you know -- happens when -- -- guidance higher revenue good margins.
Two is Pacer International we were talking about this earlier Beatty and seek capital markets analyst boosted their ratings on the free agent didn't come nice -- they're tearing.
Pacer yeah they serve he elected Wayne was driving -- -- -- a pacer.
I do believe so I and I know that -- these -- I did.
And they -- today they -- floor actually.
They recovered a bit because there's huge plunge on Thursday about 66% the stock was fell.
This is after that GlaxoSmithKline.
They have a partnership with them they got a letter from the US.
Food and Drug Administration saying they would not approve.
-- drug for restless legs syndrome at the time and actually exempt what was our big -- that day down here it is back up.
Point being though these stocks are really one day down when they Charles Payne please.
Usually lottery money when you played about the accident was jailed until -- that I can't stop my leg that that that that chicken and I can't stop letting yeah.
Today I don't date much at all but I was out one time with someone who.
Legs is the deepest lake had that Sime bank had this level and saying a third of them -- you you haven't called them back just distracted.
It was to have heels on like Mike Mike Mike yeah.
Yeah all the martini because -- that he didn't.
I don't know maybe needs a drug trials.
And they -- -- there is headed debt back back.
I'm an -- and his needs to curve isn't busy as a parent -- the public and not a little about the market right yeah.
A whole lot of nothing -- you know supporting you talked about one of them he wasn't Nicole who talked about the most admired -- -- -- companies in America and they actually made the list yeah.
Yes Amazon I was number one.
Outside Baghdad has gone overrule well Google today that -- businesspeople and you know use Nolan and I thought I would go after it still was talking I was gonna throughout the state you know.
Was this a list of women like was as good housekeeping -- the names on the list were like Downey and you know things like a housewife for right I -- -- Who I -- it but thought it probably why.
I -- I think you're right.
People stay home mom they sit home and they research stuff from home because they -- -- -- the house and not been there WebMD is a perfect place to go when you.
Kid is got a twit net twitching you don't know what's wrong with them -- you last look at where you -- some of the night.
It wouldn't can't -- that I as a mile and a good food good syndrome.
-- that that is why I'm better off at home who really -- but so.
Nevertheless he got -- stop -- whether indeed doing fairly well today but really don't have anything going on are we still on hold because the DC.
Are we still on hold because people are unsure absolutely -- -- from.
Think you have anxiety I was talking about for a while starting a -- of the -- this this is sort of a post earnings.
Post Greece even though -- all none of these things have been resolved.
Is it just sort of sort of faded away ups within a little bit last week I was I was really impressed guys with the market last week there were -- bit about there was only four sessions with three -- -- think.
Could've gone either way instead.
We saw some serious rallies into the closed up so that tells minutes from anxious money -- aside -- restless leg syndrome money on the side that it looked like they did and and sometimes he gets in just because you know.
The higher you know more than.
So Biden I don't know why but this time to move the trains moving -- -- station I was impressed last week -- -- have the -- to the close today.
But it's also and is oriented you know -- is going to market to they always need some sort of news and you know yet I think a lot of retailers this week as well some housing them.
Say and India the earnings news as a whole.
I mean it's a heck of a lot dietary -- -- earnings -- -- nominal but guidance that was phenomenal.
It was just that the fix was and then we -- -- to -- back -- and -- you know bit.
He's got to the world and get exactly these got to pull back I really enjoy you know you've got to pull back on -- company beating the estimates raising guidance taken markets here.
You wanna knock it -- a few points you give that a 52 -- -- by all means do in the get a cheaper.
There you go acts nothing except a dead guy KL AC -- wild thing courts in semiconductor play.
And now one thing that I'm looking now for I think the -- -- -- -- should always be aware of added -- it trends and earnings in -- the street guys consensus earnings history right now for -- it's their fiscal year ten with a four dollar 22 to three months ago they look a four dollar ten.
For fiscal year 112 dollars and 44 -- three months ago was a dollar 82.
Sure trending in the right direction I if there -- a little off the trend is -- trend is moving -- no more often not the street it's late you know and I see these interns go out these companies still beat.
Turning a 2.3 -- had to -- to Baltimore two times book so it's not an expensive stock.
And I think this one might be might be one -- -- -- And so you're playing on the obviously continued semi -- a lot of the men and but not just one company doesn't have to be Intel PCs a lot of guys go to these for their for -- equipment so exactly.
Maybe it's different way to play it yet and -- sector you're absolutely right.
In Indiana right I think they'll really silly is not at the 52 week high but.
That's an okay -- -- I think it's it's poised to do okay.
I think that group is a hold got hit pretty hard that in -- little setback we had a group.
What if you wanna call -- correction has 9% as close enough.
-- the chips are extremely volatile I mean you you know like you gave the disclaimer for Biotech this.
They're not going out of business but that's they can become extraordinarily volatile but you know when they run in -- running like a phrase and I didn't hit I think -- right guy that episode you.
-- -- I think if money can live without confident that he took you're you're taking a risk -- -- -- Accept what's Hanson you know -- -- hundred -- -- monster last week an executive -- -- I think as a CEO actions that they would like to distribute more monster now a couple years ago that this and months -- Sayyaf through the -- because.
-- hot stock nearly everywhere and everywhere downtown at the the film festival they were like -- -- -- via this line to stand exit films phraseology a huge line they're polite given -- free giant cans of monster in the river.
This monster -- thing has been in a rumor mill for at least two years and so you know whenever you hear things like that it doesn't necessarily gain traction that it wants fitness training and six -- spoke with some kind of expensive even though it's a high growth company.
But I still think that at some point one of these guys gonna make -- move on and just the last few sessions cattle like the action the tape action on the side morning thing else.
And if you would pure oil fundamentals you could say argue that its overvalued but if you went on the fact that.
This is an industry that's in a lot of consolidation over the years and this looks like the best candidate in the space to be acquired them.
It's worth a shot and I think about the mineral water rose Nicholas that -- about a couple of years back -- minority sort of working together you get a comfort level and then I guess it becomes at the end of the -- cheaper for -- to -- -- You know and then Diaz says cutting these distribution deals in tenement house and then and also you know find other ways to other distribution channels form as well and today they -- -- the stock price I think I think it dated throughout forty bucks I think of the word to be taken over -- can get fifty dollars plus I think a good point 5% month.
-- well the whole energy -- space those very interesting because it is clearly -- you know from soda.
Especially now we you know potentially nearing that -- -- attacks -- -- what are moving away from Catholic.
She got to wonder when the market becomes -- century I -- monster itself.
-- is on its own product it just on the shelves I mean there are a billion different kinds of monster energy you don't even know what to -- some -- but the good.
Yeah overwhelms itself that you just said it is on the shelf -- it is.
All they're -- spirit entries -- and that's really high and there are resilient one options here and that's why -- like Coca take a monster and really make it stand out in the crowd.
We had a CEO.
But one of the founders of honesty.
Our show this weekend and Coke has 40% stake in them now so Coke is moving into all this -- -- carbonated.
Averages have the people are drinking less and less and I think that's overall we talked this morning about cigarettes I think that's part of the greater awareness about health and they have to make up elsewhere.
And you last month and also if you logic back to the -- -- -- that's a favor to your video you know this company is really rock and be mistreated need to the last three quarters that earnings estimate to -- -- like this.
You know they've been a ton of brakes on this what technically I think -- move through nineteen and -- have to pick between 425.
And a couple months go ahead ricks on the show.
And Rick's cabaret.
So we sent out alert take profits on half the position today in case anybody was watching.
And he didn't particularly like yes so we might have today will take a little bit go to camp yeah ha ha ha make your -- 00 up well well be done.
That's that they got a break and figure out would go on until they go up.
I don't really know why -- civic duty tied to the idea that I'm not as you need to get.
That is catching then that's what -- read back.
It's a bad.
This -- that out of the -- that.
But the black -- -- -- dot com live pics weren't that great in for our.
Apparently very ill Chris to about loosened some some -- -- that sounded to me is very pathetic.
It's addressed yeah -- demand -- not.
Are we get again -- DC -- has -- Barnes is down Napa resident Peter Barnes and -- covering the President Obama meeting with the nation's governors is -- Arab what's going time.
-- Tracy Robert got a governors -- here.
Looking for more money I guess that wasn't bad out there that -- -- -- time after.
You know it's bad out there for the states because of the recession all the unemployed out there that states -- a lot of that revenue from.
Employment taxes and income taxes.
Deficits of of -- 193 billion projected for this year 180 billion for next year.
And the president talked about the economic stimulus plan that you know we push through congress last year 860 billion dollars or so what you about a 135 billion.
Was allocated a budget for the states to help them get through this crisis.
Assistance with Medicare for infrastructure project Medicaid rather infrastructure projects and others.
And now congress and as you know is considering some additional.
Legislation's and jobs bills here some of the proposals floating around would give additional assistance to the states on the president is also proposed even more assistance for them in his fiscal 2011 budget so.
The governors in town and saying hey quote the worst is yet to come as far as their budget problems -- But.
Peter we talked about this before that these states are the next -- Basically sub prime market.
Ready to explode so many of them are straddled by pension costs so many of them are at just this spending is out of control.
It's not surprising that the governors -- there at the same time now should we be given the money.
-- in other that that is of course that the hundreds of billions of dollars question -- -- had -- -- no question about it and and listen as you know that the states are being very aggressive.
In terms of cutting taxes.
Excuse me cutting services.
Cutting budgets are raising taxes in some cases -- -- tax increases and like that and state of new York and New Jersey and other places out there but that's still not going to be enough and so other states are gonna continue the struggle and as you know.
It Governor Arnold Schwarzenegger is right over here at the stakeout camera.
Just coming out of his meeting with President Obama.
-- he he's he's gonna have a budget shortfall I read this morning -- twenty billion dollars of me that that this this state that.
That's one Republican candidate said last week should file for bankruptcy which which obviously is not an option for a state that's not allowed under the bankruptcy laws but.
California courses and pretty serious trouble and and look and in here looking for help today so -- so much -- that Governor Schwarzenegger got a one on one meeting.
With President Obama.
Yet -- sort of the poster child for this whole crisis right now Peter and worries that term lightly I mean it is -- bubbling crisis here particularly in California.
What's the betting there on the sidelines as you -- -- a lot of people in Washington.
Whether or not there is some kind of a bail out our -- some kind of conditions are gonna have to meet.
Some kind of government -- would would isn't likely next step here and in his California truly the test case.
And here's Governor Schwarzenegger walk -- right right -- that's where -- live on the web.
-- and he's gonna get some help -- from some of these other programs no question but whether or not he gets them.
Targeted specifically some targeted assistance.
Remains to be seen -- a step out of the way here's our cameraman Mike -- again.
Gets the shot of Governor Schwarzenegger taking the walked down the White House driveway.
But listen if one thinks that's code for California it's obviously an important electoral state.
-- -- electoral votes than any of the state of the union the president says a good politician and no idiot so we'll stand by the -- -- -- if he decides to come up with.
Some special assistance four for the state of California -- you might -- A government backstop for some of the bonds or something like that they get that they've already done that in the build America bonds for.
Municipalities and communities that have had a hard time in the -- a lot of market.
That Peter and earlier this morning he's -- also did say that he was thought the stimulus plan was a good thing so.
I'm sure that adds to his case.
You know getting in the president getting on the president's good side -- getting money for his state and getting some money out of diapers yet exactly Peter Bryant down in DC.
Following -- -- -- and thank you stack this.
Why -- OK guys -- I -- look -- -- what caught my loving what I know I didn't catch yours because you admitted you have a live -- moment I don't.
I now I've got -- fat Americans look at -- -- thirty years ago today.
-- herb Brooks thought the boys to play how about that we're -- -- -- yes the miracle on ice you might remember that that.
-- did laugh I do remember that a group of lads you know beat the best team on the planet -- -- -- -- kids for national team they are all army pros we've.
Got a much of college kids together herb Brooks BM over these guys.
It did them probably the most unlikely as champs anywhere and -- But feel -- remember this wasn't even the gold medal game they won this game.
And then they had to play again and even if they -- lost in the finals to Finland they were not even guarantee of the bonds so zeal I was almost like up when gold or nothing.
It was all or nothing but this was an amazing game and -- I have to tip my hat to our rival network -- NBC great to piece on it and I saw last night you know ahead of the part of it by I think before department after three million African remember -- the the US Canada it's a -- Paula nice to have ESPN I don't think it's that's a bit of a stretch because it -- -- guys on the tunnels 1980 yet.
I feel kind of old but it has really inspired a generation you do you hear interviews of the guys playing today.
They went out and did it in everyone wanted to be Michael was the only who's the captain they had him in the interview at the of these guys.
Lit the torch -- the flame in -- 2002 was at lake city and it even.
You have done in North Carolina and we put a roller -- but one of the -- play roller hockey and stuff I mean at the time it was really and inspiring.
All inspiring victory -- -- at a time the height of the Cold War.
Yet to really admit I don't know that kids today can really appreciate.
How it felt to be beating Russia on the ice second next -- in 1980.
There's that was cool 'cause there's no rival -- yeah right around and we talked about that for years afterwards yeah.
So what we -- to -- a great moment we needed -- the -- national psyche if you will and her children they didn't of course beat -- and when the gold they said that they say we'll see -- -- do it again I saw last only one legal battle.
-- -- -- -- Let the threat of Brigham and -- involvement.
-- Welcome back but -- this outcome live.
So we live in the eighties here.
-- -- Eighties until -- and -- now and I get a big we believe it or not are going out to Switzerland have led Skype make -- -- -- -- So -- -- to drop founder and CEO of Pope can't.
-- -- -- -- That's correct is aware that the DNA is guy out in Switzerland.
Right you gotta tell everybody about this product that -- -- at the chest -- and that's wrong.
Yeah I didn't get us in a nutshell talked -- Iowa as.
All right we'll -- -- is your social business card that Toyota Lola.
Accessory that we develop that lets you easily connect to people across -- -- social networks so no you don't need to your chest -- you can just pull it.
A little bit away from your chest and that's it to someone else -- spoken -- just like that they -- and you're connected very very easy.
And -- connecting you mean we just swap.
Contact him for me do you.
Exactly just -- fought to recall your social business card like a digital business card but.
Augmented with all of your social networking information -- but it all -- networks you can but didn't pictures.
You -- address your blog site and -- So at this debuted new -- Is it automatically uploaded to say you know a Smart authority to get back and stick -- into your computer and it automatically sync -- Whatever digital Rolodex you're using.
So -- a little USB stick.
As you can see here.
With the cap.
And you basically use it to connect to people in the real world and -- you get home you stick it in your computer.
There's no suffered install new drivers and it just thinks -- -- what we felt spoken which is a an actor -- solid social networks as a special software and -- discard.
Is that software that actual hardware pieces hub.
That you had but no usually I just a website at that just a website where you create your social -- this card.
-- are you originally from -- I'm not I'm actually a world traveler -- from Canada they've been living out here thirty years.
OK so yeah in Switzerland and you when you come up with this product that -- -- -- and needing Monday and that I wish I had something to.
He lost business cards couldn't keep up with them that's pretty much -- happened actually I came here to Switzerland to do an MBA.
And as we all know during an NBA you network -- -- you meet people.
And I found it pretty strange that in this digital world where we all have.
All these social networks with their contact information either professional -- amendment thinner or FaceBook or Twitter.
When you're actually meeting people in the real world you still have to look at a paper and scribble down names on on -- paper napkins.
So -- just thought you know there's something missing here.
You've got to do something about it.
-- -- because instead of actually scribbling names and numbers you scribbling like your email address or something so you're still writing something.
So was using this now what was out there and telling your product.
So we actually it's been a surprise for us we initially developed that more for social networker spurred.
-- students on college campuses.
And actually we found out that that's attracting a lot more business people than we thought.
We adapt to the product and ecological spoken events that the combination of branded -- and -- branded web sites you can see here for example you've got to Vodafone broken.
You've got to BMW broken you've got a lot of corporate customers that now use it in their events.
In different countries and they spread them throughout the event that it helps people network.
And also break the ice when when they're meeting OK what -- I -- really interesting to see the evolution.
What about any privacy issues here is there a way that people could get your information if you didn't want them to and it it may be you don't wanna give.
The same information to everyone maybe you know like a business contact needs different information then you know you know one of your co -- yeah.
NBA and get too close without you lying -- -- just bump.
The well I think we we don't connect you automatically as friends -- your network so it's pretty much equivalent to you losing your business cards.
If you get a business card drop out of your -- -- -- pocket what not to review the same thing.
With a -- you created your accounts.
And you're sharing that same type of information with the people that you meet but you can also take it back.
So it I think it's even more secure than using traditional means how do you take it back.
You can actually well when -- people you build your timeline CC do you believe you've met in time.
Time date information about about them.
About the event as well.
And basically you can choose to delete people even after opening them and -- really know.
Commitments when you've -- you collect people that you run into it that Spencer trade shows or or on college campuses you can always delete them afterwards.
But if I -- you.
-- you deleted on the other side as well.
-- five you.
Net you've got denying we did a little poke in dance I get home and realize that your total creep and I need you tonight.
Have my information can I delete you know when -- -- Back that's what I -- in that.
So there's different settings that for -- specific news there please use troops Murtha Reid you have a -- For people that may be concerned.
The same thing you you basically click the little button that in the middle of the year and then you've spoken someone they don't know that you just -- to them you're not a.
It looked interesting and then it'll be really wanted to have a the next day to say well.
Here it is -- it's gonna spread.
Gray calling -- eating and I guess the last thing.
I you know it's a little early but do you think about people with DM malicious viruses and -- who is -- you know would you is there concern that someone may -- -- -- Just -- no wipe out your database maybe -- someone from arrival company you know if you're.
You with Mercedes and BMW comes up you now -- bumps up against him.
Let let maybe a valid concern but in this case it really -- -- it there's really no damage that can be done for the music pure web product.
Solid passes and html file on it.
And so it actually doesn't interact with cured that your computer that the corps dinner to your computer really interacts directly with the web.
So it is very secured.
-- my adding is really cool actually -- -- well on our boards really think it's often too.
How do you find it if you're -- -- -- -- website.
So you can go to spoken dot com and you can buy these little critters we have lots of different designs -- artists that are contributing designs from around the countries now it's pretty exciting.
Or we're we've partnered with companies such as brand -- that you the branded designs for corporate use and that comes along -- they branded website so we have customers and in the case -- BMW actually they've been pretty innovative that the latest trend -- Munich.
They actually created social business starts -- -- of their new cars so people could go around and poke in the cars to collect information about.
Long as Mercedes and BMW collect information about you know what where cars people like -- So there's a whole aspect that through the -- or for corporate use that's very -- also one last very quick question how much is -- set you back.
That when you -- -- and -- to twenty bucks.
And of course Europe prevents insurance on their Upton given out for breather sponsored as part of any event packaged in a charge on the service just lastly.
There's no -- and service look at the website you can access anytime you like.
You can think without -- -- from the web Stephon great stuff man good luck to Gary -- -- posted on how things go.
Thank you very much.
To find a job out in Switzerland founder and CEO of poking and check it out hoping that company is one of those -- the toy fair last week.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- You tell us this story quickly you started a -- -- basically like a dating service for people in the world.
And people in rural industries farmers tell us.
Well I started farmers only dot com for farmers ranchers and all their neighbors.
And -- you mean -- -- connection this.
Quite a few I started about four and a half years ago.
And we have thousands of people dating.
We have couple under marriages.
Just talked to a couple.
Recently just got married in November.
And he was from markets -- -- she was from Arkansas is from Missouri.
And his first day he bids that are bringing flowers he brought forty bales of today.
In the -- -- -- pick up.
And because she raised horses.
And I guess it worked because now they just got married.
Very Smart very Smart so do you see a lot of us saving the ability to think about it if you think about like a mass -- commerce and that it's maybe more.
Urban -- you've got a lot of people massed together.
It seems to me it would be a little more difficult when you have people -- in different states but you're saying that you're still seeing pretty good success even with the distances.
He had the what problem is when you live in a rural area.
You probably know everybody in your small community and if you're not compatible.
With somebody you know from your community what do you do -- so.
A lot of my members.
Say they tried other online dating sites.
But they had to go through so many people to find somebody is like minded everybody on our site that's not only for farmers -- -- fear for people that.
Live in a rural areas -- you have animals lot of horse.
It's a great community of just down to -- singles.
What about this whole new wave of so called.
We're all politicians -- you've got a lot of people moving.
From urban areas and moving out and neo moving back to the land so this begin to become farmers are just a little more roll lifestyle DC people who.
Maybe anticipating this move are using your service or how would you try to reach that kind of an audience.
Well we have we have quite a few people that.
Actually lived in the country moved to the city and then want to get back on the country.
Our slogan on the -- -- city folks just don't get it.
I'm -- I'm sorry because I know you're in right in the middle of the biggest city could.
-- okay good -- very very small town in rural North Carolina so I can relate.
Chocolate milk does not come from brown -- Now tell us quickly they aids grants -- in -- -- anti spam the -- is it mostly one age group in particular.
There it sits very equally spread out.
I'm amazed how many older people -- on this site.
All the way up to -- -- members over ninety years old.
But god -- and -- we're we're spread out we're in every state.
Every age group the only state that we're having a hard time with us Rhode Island we just don't have a big commitment to style and members there.
-- there are a lot of people there either side and right that maybe part of the issue there I tell us.
As opposed to just being -- young matchmaker and and and you -- simulate a very nice guy how do you make money at which I would imagine was your ultimate goal here.
Well my ultimate goal at the beginning was to help out this farmer that I met.
She said how -- gonna meet somebody foreign work on a farm all day.
And I search for an online dating site for farmers and there wasn't -- so I surveyed -- farmers all over the country.
Find out how they met and and so on and I saw there was a big need for this service.
People are lonely -- loneliness is -- serious problem especially when you get out and isolated area.
Right -- well I actually am thrilled you we're here because I really did think -- -- -- came from Africa get out of here -- Did yeah that's why there's only dot com could go check it out I love the little lawyers that says city folks don't get it elective.
We can thank you its all time we haven't.
Chris Conner you're watching the look and feel -- man seriously see -- -- -- -- into it.
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