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Wednesday I love it foxbusiness.com live Tracy writes this product transformer.
It is -- okay.
And having fun today that don't say that please try because it's almost like I think somebody's got a case of the Mondays whenever somebody says.
Happy Monday happy Wednesday happy hump day happy Friday I don't know what that needs.
Side and just -- you don't send with -- thank.
-- -- According to the positive energy back -- -- is adding -- way markets have 27 points right now it was a little bit higher earlier.
We heard from the president you could say you pull -- pulled back a little bit after he spoke he didn't set a whole lot enough and now unfortunately.
For the rest of us because they're gonna continue what they're doing.
And then keep spending and they blamed bush and his administration -- the first thirty seconds.
We had a little bet on -- coast and I am a -- how quickly you won Obama would blame the prior administration.
When you -- I -- three and a half minutes and that's like an eternity -- -- -- off exactly I said it under a minute and me.
Under a minute there it was.
It's Bush's -- bomb that -- -- accredited today I dated Wednesday now it's Ash Wednesday.
It is actually given up the -- Yet I decided not giving anything up I'm gonna do something this is also something -- -- earlier I'm gonna do something what are you gonna do we're -- it as a family do something charitable decently good and not begun yet the company either take the kids relate.
I don't know -- and it's.
Really that's really now within the spirit of the day I understand it's it's good it's a good thing to do but it really isn't in the spirit of things does that mean -- -- -- supposed to be a sacrifice.
Sacrifice what you love sacrifice what you enjoy the most isn't that -- evidence.
To show that you can be strong and -- your faith is strong I'm just I think that's what it is I'm not Catholic.
But I think it.
You if you you're not making the world a better place -- given up chocolate.
Isn't that -- hot and that makes me that's the idea black -- make sacrifices for the good of others to help other people.
Neither of them chocolates really -- I mean.
Its biggest hit my children miserable.
Because they had to -- -- you know.
By you know lawyers play I am in a rotten mood today so hopefully Sasha and burger.
Who joins us right now can put me to a better mood to many feel good about things feel good about the market's coming up -- welcome to the shelf.
Things are happening.
Todd I didn't -- -- -- -- we had a couple of days here helped a 170 on the Dow yes they were up 36 today.
Is this a little bit of a relief rally based on the fact that maybe what investors are thinking the situation in Europe might not be as bad as we originally thought.
You have to agree we have -- -- -- mean issuing Greece really is a minor issue.
-- when you look at global gross domestic product -- represents one half of 1% of total global GDP.
And plus the country doesn't manufacture anything it really rely on why not tourists and so.
From the Greece debt issues that are occurring it could be a domino effect down of our.
But right now short term yet taken traders are actually average viewers in the news that they -- -- -- Europe.
So what happens going forward now and you know the greatest stories taken over.
We -- the president talk about the anniversary of the stimulus package today I mean where are we it's just -- see it seems to me.
And you pointed out in your notes the volatility.
That's -- says people are confused.
-- -- got that right Tracy and in the first thirty trading days of the year this year 27 of the first thirty we have had at triple digit swings either on the downside the upside.
Through -- -- -- trading so front and that's typical post recessionary periods only because the data that comes out from the government.
Really is back and forth sometimes you have good data sometimes -- has somewhat negate any today's house and it actually was pretty promising.
I sit traders see that they had that type of volatility could see that in the -- and that's actually going up.
So equity investors right now or investors who can't stomach that type about -- that take -- risk taking.
Probably shouldn't be in equities right now.
And and you're actually seeing a little bit about him and we saw actually a bit of a rally in treasuries yesterday on mainly from even of the market's drop eight we still had the the ten year actually only get about a couple basis points on the -- -- -- he's when you start seeing that yeah actually at the thing that -- investors going forward where are we going long term my personal opinion is that.
Where this is a short lived rally and they were gonna have this extreme volatility.
But we still haven't seen the numbers that are there from the government.
As far as employment -- says.
Any anything really retail sales but we really haven't seen the numbers.
They'd sit substantiate any type of about trying to in the markets right now so.
Take advantage of the of the up swings when -- get a short term -- long term it's going to be pretty rocky.
-- -- we are celebrating.
The one year anniversary of us spending 800 billion dollars to get to those numbers.
Ali -- we ever going to get to the employment numbers at this.
Recovery Act was supposed to get us obviously but we haven't gotten it because it was supposed to keep the city percent unemployment and we got over 10% sell.
What do you make of the Recovery Act one year later.
Why it's a big joke I mean.
Yet they Recovery Act would you think about it really did a nice job short term you know what Obama really wanted to do was had some type of -- quick.
Let crazy you know you heard a lot that.
Shovel ready projects last year so I was -- they actually add.
Out of but the entire 800 plus billion dollar package some 2425.
Billion was actually devoted to highway improvements roadway improvements and so that was a quick help as far as trying to get some people short term back into the work force and we actually saw that -- saw a lot of temporary hiring.
The problem is though is that long term there's there's there's no strategic vision.
So this morning when you have the president -- it president's re selling the package from last year but then he quickly tells you that he hasn't spent everything.
Now he wants everybody on capitol how to come out with another jobs bill will what was the first bill supposed to -- -- -- to -- captain and we haven't -- -- -- that that -- nine point 7% unemployment -- right now.
Really it's more a factor people not going back into the work force and not looking for work -- giving up they're just demoralize you really see that in the misery index the misery index is at the highest peak right now in the Obama administration that -- Commercial and it's going to be critical in the mid term elections this coming off so -- I'm not too optimistic -- the labor picture.
-- -- so.
-- -- stagnation out there basically no one knows -- duke is we're confused and Wall -- being driven by decisions come at a DC.
And yet you have likened the travel into some companies so people aren't doing so -- get out there saying we've got an upset -- home on the couch.
Get -- you look at the Dow Jones on travel and tourism index as a whole and is actually done quite well.
Beating ES and 500 but when you look at some of the components in there Mary act Delta Airlines Southwest Airlines.
You have some people that are traveling it's not so much the domestic travelers here but a weaker dollar has enabled foreign travelers to do some traveling -- some of those companies.
Not so much southwest but you look at helping you think Samaria court where they have.
Hotels they they they fly down -- around the globe.
Those are the companies are doing doing really well just look at their stock prices are doing extremely well.
So yeah will be great for all of us here in America to be able to afford to take a vacation but of course you -- -- job to go and take a vacation and that's just not something that we have now.
So -- -- but you see a lap warrant travelers actually.
-- -- Worked out well about you mentioned slot and MasterCard is to others that you like.
Yet -- loved Charles Schwab right now I mean when you look at the do it yourself and faster.
And you think of online trading a lot of these people will go to the -- line stock brokerage firms to discount brokerage firms and Indian Arie treats each rates.
-- swap does best though is that they use their technology.
And -- low commission structure as a feeder.
To get people to move all their assets so that what they're focused on her assets under management.
They did their slogans talk that shot they really do want to you can use the self service channels but ultimately they wanted to talk to chuck -- that their call center reps can cross -- It's a bit of managed money program and the Schwab over the next five years has projected that they're commission based revenue is going to increase by 20%.
But -- eBay's revenue is gonna increase by 30%.
So they're brilliant new advertising their business model going forward and they're gonna be able to to survive any storms that are out there as far as -- may get double dip recession.
Or even a flat stock market they're going to do really well.
And as far as MasterCard -- you know everybody talks about access to credit -- MasterCard doesn't grant spread it.
But what they work as as -- as a distributor of credit.
And they have a global presence so when you look at -- their control -- their landing and that reputation in the emerging markets actor.
MasterCard is tops in the anybody that wants access credit they get event not to mention the fact their technology is state of the art.
MasterCard has devoted hundreds of millions of hours inside -- research and development programs just trying to streamline.
And and really speed up the process of e-commerce.
They're doing really well with that I love -- -- for that reason I want.
Todd thank you so much we appreciate you joining us today until next time all right thanks -- I thanks for having me -- on burger from San Antonio of course with land -- trading he's the managing director down there always -- as good insight.
You haven't filed fired up about what they're giving up for -- And Tom and entity who.
It's from Maryland and not a doctor I think we just -- that -- thank you said that you should just do what you wanna do and not what you can brag about it.
-- -- -- Probably can't brag about it's like when you donate to charity you can't brag about look you see what I'm doing and -- -- comes -- I don't you know.
I know it's interesting Todd mentioned the misery index and actually a big part of that today -- -- reason why you are that you are slightly in that I'll probably outside that you Todd made me feel a lot better about things and I think rich -- is gonna make me feel a lot better about things so let's bring in rich.
Gonna talk about to happen strange.
-- as well that rich could Jersey people know how to do is jump on it right she just move.
Right yeah yeah -- -- -- write about it in the united jumping into it how about that that's that you probably do both better than anybody.
Isn't that the way it's good stuff -- that's -- The center -- billing I really I really hope I can I -- -- -- -- -- -- -- -- Brad I know I know that a lot of our viewers are gonna be happy to hear that cap and trade is done that nuts with the audio is thoughts about all -- I don't -- necessarily done we had some developments here that.
Certainly make it may be less likely that it will -- continue.
I can't imagine it.
Congress would really get to it this year and I can't imagine that the next congress would really try to let me name made but you know although all the political analysts out there is senate Democrats are gonna have a lot fewer.
Democrats to work with next time around and and already.
In the senate they don't have their super majority anymore and already you've got jobs bill you got health -- you got financial -- so.
Cap and trades behind that it seems up for this congress to probably not going to get to it when it comes to accomplishing the goals of cap and trade -- which is to reduce carbon emissions.
The environmental protection agencies are already moving forward on that -- -- administration.
Has sort of used EPA regulations order over the head of congress to say okay -- of congress you can't do this then now we're gonna push this through EPA.
And so you know the EPA is already moving ahead with perhaps starting to regulate carbon emissions and I think businesses would probably prefer.
Of those who oppose cap -- trip would probably prefer if congress footer right law.
As opposed to EPA.
So but you get these big companies back off on it.
BP caterpillar ConocoPhillips out today saying no more but it's not going the way we wanted to shell staying but that's for now.
That's gonna say some into the administration they're losing an all their political backing.
It's such a it's a difficult it's almost like it's -- a lot like health care and that you have on a bill when you're talking about energy you have somebody different corners.
Of the energy market and what.
The oil companies were saying is okay.
We don't like how you have given all these incentives to -- coal burning companies that the coal burning states for the ones that got exemptions.
For their coal -- companies.
Will then nobody added incentive to buy our natural gas so why are we putting all this money to go into natural gas if you're going to write a bill that said not only do it to spur innovation -- not that help our company out so they walked away simply because that'd be -- be able to -- natural gas like they did it.
If you go back the other way -- take away the coal burning allowances will be now -- goes duke energy and everyone else.
And that's -- they're -- they're they're just it.
They can't be all things all people and as a result they're not gonna please anybody and that's -- I think part of why at least I seem to believe the whole thing is dead.
-- it's it's that -- problem is when you have these corporate sponsors leaving.
You know that that the company sort of shrug it off until we picked up three other corporate sponsors and -- -- and that we plan on picking up some -- as time goes on.
-- these are organizations designed to push this through congress and right now.
And there's just no time and it doesn't seem to be all that much appetite in congress.
Especially after -- after really what's happened to the Democratic Party in last year.
Doesn't seem like -- -- time doesn't seem like there's the appetite doesn't seem like congress is really.
Going to get to it this year in this congress today next year we have a whole new congress is probably going to want less to do with cap and trade in this congress did.
Yet -- you Wear a ray of sunshine you have lived up here happy update -- Thank you thank you that's today say the same thing that -- -- -- but -- Chris Chris just offered the ray of sunshine could not totally forgot.
We -- we are on -- day it aids day.
I thought I'd say he's either -- -- Exit and I'm not on our little ray of sunshine each day you know what if you call it aids day I will smile and I'll tip my cap and -- -- TV that.
-- -- -- -- We have lots of talk a lot more on this one year anniversary apple is -- -- I don't.
Somebody says to mud pie.
-- -- dot com I think things just -- it now I'm told I can say happy each day you can do it every one like that you've been listening audience so I don't saw mechanical and I certainly don't want -- -- misery index down even further quite frankly.
Michael great analyst here with us today reporter -- -- -- public to talk about our one year anniversary birthday celebration of Recovery Act.
Yes or -- work didn't work.
Like to get it all depends on what you expected the stimulus package to be if you expect it to be sort of you know create a lot of new jobs and look if you like the WPA.
-- -- in the new -- that's not really what we got.
If you expected it to maybe you know save save some teacher jobs.
Make things a little bit less uncomfortable.
For people who have been -- by the recession.
And then lay the ground work for.
For of the Obama -- the Obama administration's economic agenda -- -- got and the first year.
-- now -- -- think because it was such a big number 800 billion dollars essentially.
That the administration had to make.
-- its promises to sell about that in the short term because I think that's what politics since.
But understanding that -- upset anybody -- wanna push the misery on till you the next month the next you're the next administration.
You get sort of what they did because of the promises almost became I'm capable when they were.
You've got to remove accommodation because they did say would create job -- -- create jobs immediately and over time it's changed from saved jobs to find a job and supporting jobs.
But the same time they did call it a recovery and reinvestment act getting caught stimulus package.
So it's doing more of that recovering.
It and reinvesting with a split with some of the goals of high speed rail and new energy.
I did say 8% unemployment they say with a B we keep it at 8% and they were wrong about that and wrong in a big way so -- look I think the American people say.
You know what -- you gonna be right about anything because right now we haven't we haven't seen it yet.
Yeah I think they'd they'd definitely.
You know -- under sold the -- of the stimulus package -- talking about unemployment was going into.
-- at 8% but also oversold the -- saying that this -- be something you see immediately and a lot of it has been invisible a lot of the biggest effects we've seen.
You know we haven't -- right and you recently did some at first -- jobs number that.
I don't -- quantify that this notion of jobs need to you know.
It is chris' job -- today because he's so miserable -- let out the door might be easily around we saved it.
-- -- -- become one of the numbers now but better -- let's just thought about investigations now going on I mean there.
Is -- we don't know where this money's going this could turn out to be a political disaster.
-- and you haven't seen a lot of it yet and so.
That the vice president had he knows it has set said in his report today that.
You know he surprised how much though public esteem if you talk to investigators -- -- Delaney who's head of the stimulus oversight board for the government.
You know he said not ask them for what -- -- give me a list of all the prosecutions and it happened he said well criminal investigations take.
Year two years fraud is very complicated stuff he had a whistle blower come forward he needs somebody to unravel.
There's a lot of stuff that they are looking at.
But a lot of it hasn't become public yet.
One thing that we try to do a -- public trying get a handle on that if -- put together a list of all of the inspector general courts that have come out.
He put together all the time that newspaper done investigations.
Looking at contractors who got money who maybe have had problems in the past or maybe even the government has said.
We're investigating them right now we don't think -- should be getting money somebody else the government has been giving them immunity fleet but building to that so that people could check it out and it's that.
You made the list and it's.
Did -- in big numbers of just unknowns.
Yeah what you know one story we did recently was.
About thirty million dollars in defense contracts going to a group of companies who right now the Defense Department is investigating.
A a business a program designed to help minority small businesses get government contracts these folks to know.
May or may not have qualified and that's what the Defense Department investigate.
I work the point right now where we're a year and there's a lot of argument as to how many jobs it is saved created what have you how much of it has actually been spent how much more needs to be spent I mean and from much you've seen out there.
Mom but it is there is there.
Is there a place for jobs are gonna come from are we gonna see this actually have a much greater impact two years in than one year do you think.
Yet this is wrote what the most interesting things I think about the stimulus package is they're -- huge disconnect between what the administration is saying yes and wide the public -- -- And but the main the reason -- that is because much of it affects just in this -- have been invisible if you look at the spending so far to about 300 billion dollars.
But about 200 billion of that is in tax cuts and any safety net programs like Medicaid.
And unemployment insurance those things do eventually create jobs -- directly but it's harder for the public to see the direct impact.
In the second year of the stimulus package will -- -- the infrastructure projects happening.
-- -- see sort of a long term things like high speed rail broad -- got going yet and that's where the administration says the private sector employment is gonna become visible.
There's not I mean you know you go to an -- recovery dot gov which -- check out all the time with the money that's actually been received by the states and municipalities it.
And we're talking maybe fifty billion dollars of -- all it's not a lot of money where is this money.
I'm a lot of it is in tax cuts we all got.
You know 400 dollars extra -- that is awarded re not much right.
Awarded but -- imported and not getting up not out right right so there's a few things that are that are.
Causing this kind of slow spending in certain areas.
You know in -- we -- all these things happen first for good government right we have.
Would try to get competitive bidding we try to make sure there's no pollution it all on the environment regulations are followed the state and local areas have historic regulations.
And all of these things take time there's thousand applications I have to go to restore review process.
Before you can make a home more energy efficient.
In addition of that with the stimulus package there was.
New rules -- for prevailing wage laws that were put into and there's a buy American clause yeah that's created some complications.
These folks were trying to decide the money have to figure out what wage we pay these people we've never had to.
Think about this -- The -- -- in -- -- -- there's -- -- -- government red -- -- -- -- tries to spend money it's very difficult for them to spend money by president -- senator McCain's -- Michael good decision thanks for -- library and I biodegradable from up pro public getting as of the date on some of the it defrauded that is out there involved in this stimulus one year in its price adding that in -- classic the pretty woman seen instances have this morning in -- I would like to know -- -- caught your -- though.
We talked -- -- about Ralph around getting the Olympics.
Logo basically deal up rapidly and designing -- -- uniforms -- Olympics and they are people out there saying that he's putting his own American flag on.
As opposed to be sure American -- stars -- no reference American flag -- a little bit different it has a different look and feel about it and he slapping his logo.
Uniforms sweater or sweatshirt things like that president opposed to using the American flag I don't get people -- -- daughters of the American revolution.
All up in arms about that how much different is it.
And -- that's my question it's different it's different it doesn't look like the American flag -- has witnessed stars and stripes it's old hasn't older feel I'm not good at the conniving things.
It's not the real point that's the point I guess I don't know are upset about it but the critical is the flag and I -- -- I -- bless America to.
It doesn't have the thirteen stripes a dozen of the fifties it's.
It's got like I have read the envelope it's that it blew it Scott but it's a week it's -- different -- and -- it's not like that right when -- balloon and tennis different and it's not that real authentic look sort of like the different national anthems that everybody sings -- -- sporting events and then let's then bring people that happens we're gonna break.
I think -- you know very.
Is Ralph Lauren and.
I look like the -- dot com live Robert raised here -- I'm not even gonna mention.
What happened in Atlanta last night I'm not even and bring it up.
So what -- -- -- that what happened at a time and you'll hear about that I don't know if you don't wait we got news about the more mergers and acquisition that is even Monday.
-- is that it's Wednesday it's -- Wednesday you know in basketball or will resume next year we thought that I.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Down by the World Trade Center the site is so but now Walgreen is common in in their buying Dwayne reed in the price hasn't -- and -- I just over a billion dollar yeah -- But actually it's a pretty sweet deal for Oak -- capital partners of the private equity firm they bought doing -- back in 03 -- it -- -- -- -- 686 million dollars for them so you know what they're almost doubling their money -- this this acquisition here and doing read.
It's all cash too by the way this is not some -- kind of the balance sheet alchemy going on here -- they've got a lot of cash on hand here in fact I'll Loggerhead.
About 3.2 billion on hand as of November 30 they're scheduled to report earnings.
In a couple weeks so get an update on on that -- but anyway they're gonna continue their dividend they're not gonna hurt investors the stocks actually -- now -- lower earlier today and that's usually is the case the acquiring stock generally falls a little bit but.
It's moving higher they're gonna just be a sort of solidify their place or number one nationwide which I wasn't aware of -- -- CBS -- in the Walgreens number one and in NYC is doing great hands down their number one -- are solidifying the number one position in the number one market here they're gonna keep the Duane Reade name which I thought was interesting.
Someone dig in the same maybe they won't keep doing -- service I won't comment on that -- but.
Anyway they're but they're gonna continue to overhaul to -- has been doing an overhaul for the past year so trying to change their image a little bit the -- -- -- -- and -- you know not really transforming the company but this is in keeping with what Walgreen does they go when they buy little regional guys for about a billion dollars or less.
To bulk up in locations strategically where they're not whereas you got CBS who when he bought Caremark the pharmacy benefits company.
That really hasn't panned out for them yet but I may be in the long run it -- -- that's a different strategy ball being much more conservative.
Buying up you know little billions of the time or hundreds of hundreds of million to get these little -- and and put them all together bringing them together for Walgreen.
Yes gonna hurt earnings in the first year for -- to buy your three they'll start making cash and if you're looking at how this affects others like pharmacy benefit managers Tom Galicia Britons are.
Looking at Duane -- Works with AmerisourceBergen.
Who may be hurt a little bit after this year is -- contract is up with Walgreen and that business within go to Cardinal Health who has wild eyed innocence.
So if you're looking for you there's always another play on the play right ABC is AmerisourceBergen CH Cardinal Health.
-- but you have.
For us here it's it'll be interesting to see which stores they closed because -- you know not too far away from where I live you can walk one block doing raid happens blog index was doing rated excellent Walgreen that -- -- CBS so.
All we've seen here in -- BC.
So many mom and pops and -- very few cities in America we have a grip of big concentration mom and pop always lift hardware stores -- group and you know whatever autism here -- a lot of -- but not -- because -- close and you need to get -- Duane -- Where a cell phone store or a bank on the corner you know -- that of course Starbucks or -- -- -- -- -- that fake -- every single building tasty so I don't know I think yeah the Dwayne -- have been growing by leaps and bounds and it it.
New York is so interesting as far as other cities are with competition and -- really is very much competition.
Dwayne -- a few CBS is a few writing sprinkled here and there there were a few Walgreens announced just.
Dwayne reed has such a huge well in this half what analysts that I spoke to -- really follows this industry very closely -- taught him for years.
He also points out a lot of times a mom pop we'll go to business Walgreen will come in in particular.
And they will.
-- up their prescriptions are Dewayne reed will buy at the prescriptions and put them out of business you have basically come and say look you know what will buy out your business very and just to get.
Because of prescriptions a fraud -- money is in the front of the house.
They're doing better they're ex -- can get your milking get beer there at least -- city I margins are small but really did the big -- in the back and say they come and they via this prescriptions.
And you know one just went out of business in my neighborhood and I'm I'm gonna go by now look on the sign -- see where they transferred those two and -- who it is they've bought it out because it will say go to Walgreens -- -- doing read.
Now in the same great stuff Robert thanks better.
That's what's happening in -- in a world what's happening on the equity world in terms -- what's moving this market up 37 points so it's not bad.
I still -- on mom and pop that's good for you I'm glad you -- aren't that many of them.
Deer up your fox fifty leader actually today we were talking -- -- -- earlier strong results from farm equipment maker.
Data showing housing starts rebounded more strongly than expected -- me take that for what it is but nevertheless first quarter results topped Wall Street accidents they cut costs.
And -- in house finance -- believe you're not show extra and that's.
Very good talk about going green -- John Deere green you know that song by Joseph defeat you familiar with that -- that you -- Yeah I think this morning and -- -- -- and again it was embarrassing it was wonderful New England coming up that are not a wall what some reform.
It doesn't the automotive group.
-- me that car rental companies so long back to the fourth quarter profit on.
Lower cost believe it or not -- actually an Avis also up because of all -- you know what's interesting too is from what what I understand a lot of these.
You know rent a car places they had been refill restock their inventory of cars -- -- because they haven't bought any new cars and forever so over the last couple months have been going to these dealership groups and really -- in the Fleetcenter anesthetic is what we recently got auto numbers out auto sales out much of it was -- yeah a lot of it was a big fleet numbers -- in particular right.
GM fleet sales -- -- like I love this story then -- on the -- but last year it is up thirteen hundred per cent.
Why is that what is it.
With a man recliner I don't know because.
I admire this great not to hide recliner in college this phenomenal and it was a lazy employees and but then I thought they almost disappeared and in the almost went away and now all of the sudden you're -- -- -- like it's like Kodak.
They won't go away third quarter profit they benefited from cost cuts in a big jump in revenue now I would say that -- extended its not just your -- lazy boy anymore there's scouts is that pull outs in the stuff yet again.
They're stuck and it's actually reasonable price point price point here in the furniture market.
Whole -- you talked about all morning -- their first -- earnings surged 70% topped expectations.
Organic grocery -- people are in there shopping.
We had in the day earlier is it a political people gone for political reasons is it because of the well is this really mentally you know I don't think -- is they're not as expensive as they once were -- -- -- that the areas they've really focused on value.
All with this economy and they've done a great job of convincing the public that you can go there and not only eat well but it doesn't cost yet.
As much as it used to cause you to go to losses and also -- little -- -- -- buying the basics for ourselves so you feel like you can treat yourself a little offended me.
-- hearing on I don't know Perry Ellis number one at 18% 52 week high on the stock today I love to see these retail guys move in it's.
Seventeen month high believe -- -- not clothing maker said it expects 2010 profit to be act or above.
The top of its curved glass yeah and they -- a solid Tony eleven.
Profit forecast as well.
Perry Ellis does -- injury which you probably don't know but Janzen you know yeah -- out of -- An aggressive and he was active where I think for you know swimming in stuff like that.
Am -- wrong about them get into it so they have they have secondly now but anyway carry out the -- -- in.
Jack you have a joins us right now global strategist for US global investors talk about this market.
Up 35 points up 200 points on the Dow over the last two days.
I'll be Raskind outside still -- first guess I'll ask you the same question you see this is a little bit of -- relief rally.
Right now that maybe things in Europe aren't as bad as we originally thought they were or are going to being.
It is also a I missed the question.
You are talking about that the Dow Jones that I didn't.
Yeah we're talking about that -- these last two days we've really been on a nice run do you think this is it a solely because of what we've seen enough.
In Europe and that maybe things aren't as bad as we originally thought they were going to be over there.
Yes obviously what is going going he's in Korea saying the whole of European Union dominates -- headlines and it's anybody's guess how this is going to play out.
And that -- point I -- -- like -- they have each it conclusion as to how they're going to do with this problem.
It's biggest test European you don't -- had so in the meantime yes -- is these choppy trading and we just have to get used to.
I think that -- My little brain thinks that -- -- Greece thing is a big deal any cat what are your picks in the national Bank of Greece Tug of.
Yes indeed and stated this is precisely why we are looking -- -- DC in this kind of environment.
As we are told that he is in agreement with you but this is a big deal that we -- set up trying to figure out how he's 25 -- -- solving that.
The falls -- in a -- -- is going to beauty paid.
-- -- about trying to create the most mark Kozlov not only fought a good he is Buffett pulled the other countries.
But it is doing the times like these is that I think invest social sped back and -- -- fundamentals of compound is look at confidence that had been caught acted.
Any kind of suffocated the Expos the two previous national bungled Greece is the -- -- about -- this is one of the most profitable indication box it traditionally operate through that net interest margin up over 4%.
-- depend -- equity has historically been the eventual twenty to 24%.
So after the -- actually English as we have seen invited the 6065%.
What can he can adopt a book value.
And also wants that why we can't see that if you say opportunity.
More open -- I don't -- people that have 50% -- editing all national bungled -- happened to come from had to keep.
But also a board got -- -- and Romania.
So that slowdown that we elected -- good he's -- yet and we are awarded incorporate these have not healed but the net income is going to followed by about 44 to 5% of these yet.
A week this increase is like it -- be offset by stronger performance in had a key.
As well as of Romania and -- got enough so it is like one of those opportunistic plays awful woman -- today on that but on many immigrants.
-- getting a lot of investors are looking for places around the world to invest.
Other -- Europe and maybe other than China you like a couple Latin American plays and let's start with Grupo Televisa.
We read a book that you sign I would like to talk about it in the context of a transaction -- -- announced a few days ago.
What about Kennedy's I would be buying get fat but since taking next -- call or MIA HD is it is also called.
That reason why we like -- -- action -- that you think it is going to comment could go ahead and -- -- that would be paying one point four billion dollars for respect percent stake.
It wouldn't have attended his ought to be the first company in Mexico to wolf epic quote to open -- states -- will replace sedated since.
And this is going to recruit a cable TV.
Is going to recruit him at all bond that is going to include fixed line as well there's not more by a -- basis.
So they would go head to head away and become more -- -- awful on that become obvious obviously had and he got about as it is not in a maverick cop.
But we'd like -- strategic -- fit for a -- that kind of ease up.
It is also what today on that -- on Google indeed -- for Spanish speaking -- -- Receiver goal of Spanish speaking population US and I don't like cinematic -- so we do like the -- -- -- -- -- -- -- And -- he's -- they've just in terms of operations.
And zero amended that -- -- -- sheet.
I didn't had done much not at all affecting my -- censored as one of their best -- but I cuts.
Jack you also like an airport operator in Mexico see -- back in Latin America thing again.
I have the reason why chills -- sorties.
That it is one of those folks that we had not what it and make up granted portfolio which concentrates on infrastructure at.
Is that the -- -- massive collection lost yet in March when the outbreak all Swine -- -- -- -- on the web.
A -- -- -- threat to its lowest 25 donuts -- valued more than bobbled.
And this is precisely like we like distorted that went to this some time anything -- of -- going to happen in Concord which accounts for.
-- revenue for a minute photo -- sort.
This folks he's a correction by the events historically we've always seen at -- -- so we realize that that the comment I sat on fifteen going on us we've already had a going to bomb.
But when authorities said -- it is some -- happens to stop codecs and this is when investors who the true -- -- -- looking good these.
A game in terms of operational performance at -- optional but -- 6465%.
One of the best -- mock -- of groups in the way it is you don't know the -- so -- group's balance sheet.
Jack outstanding stuff and BG TB NAS are your picks for the day thanks for given to us.
Thank you very much -- Arab was the global strategist for US global investors.
That's its OPEC to go to the national bank group the very interesting and into Latin American -- and -- based in Mexico as well also check them out when we come back we're gonna talk about.
The -- world with one of the best feature producers not.
I think that the best feature producer ever worthless.
You know -- -- -- high -- one.
Dot com live -- weren't -- -- About 1238.
On the East Coast 930 and the west the morning to all of you out there watching.
At the each day that's all I'm allowed to say markets at 35 points.
We are working to come up a little.
Coming up just before we go to Jeff Flock let me explain that that the religious Sunni and -- and I was very I was angry at the beginning of the show a lot of -- met there I am so sad isn't any value.
Pond in Tracy says happy hump day I all I can think it was the movie office space in the other case of the -- -- -- -- case -- the -- As that I -- when people do that -- -- it all right I'm you can say hump they can say happy Thursday Friday Saturday Sunday whatever you want to say.
We're just -- misery index down bring -- A lot -- Jeff -- love them.
Not in this Toyota story guy good for you because as I said it will not go away Jeff.
Folks it is Ash Wednesday and should delegate hump day it's Ash Wednesday and -- -- -- -- actions Toyota's reputation.
Yes ashes it is -- I don't.
That -- hit -- I'd say hits I mean you know real.
Bangs on trying to just keep coming today.
-- Toyota meeting with reporters again the president Toyota and the grandson of the founder.
To reveal and he -- -- his headline this -- headline.
They're considering recalling how the Toyota Corolla this is the world's most popular car they sold one point three.
Million of them last year and if they had to recall them.
-- be another huge mess so not a good headline for -- again today.
-- they're -- they're probably going there.
This is become a PR mess we have the president appearing to not care -- not enough to come to the United States he's busy night right at this point.
We have the old I'm old Toyota Corolla in the mix now -- -- to -- it just keeps getting more.
Bullet does and and you know we I was talking on the business network a little while ago you said well you know exists fair is it to you know it.
That we piling on -- we looking at every little tiny thing.
But you know yourself it is to put it in our world appear as a reporter I'm a reporter and you think god Jeff -- pretty Smart you know -- -- does a good job be -- and things he's he's got a good shot.
Felt I told you today though I said.
I've learned that Alan Mulally is going to resign from Ford tomorrow.
And it doesn't happen and I'm totally wrong in other words I really screw something up.
What do you do you go back and you look at me a little more carefully -- tell you something.
Next time I tell you if you look -- -- a little more carefully -- you say you know what.
A guy's got bad neckties are really never like that his neckties or you know what I think he's losing his hair a little bit this -- -- fine -- and called on the thing.
About what you know here's the problem with that if you don't if Toyota doesn't.
Proactively look -- like they've got a problem with -- correlates power steering which you've they've got a lot of complaints about eighty plus complaints if they don't look at that right now they look like.
They're they're trying to sweep it under the -- that they don't care so it's a real vicious cycle.
You point is dead on because -- ever listen you as a reporter again and why am I doing -- again no need to do there's replacements out there.
That's decision he screws something up big it's not like I got the date wrong on something -- if -- did you know promised a big -- but I don't have that.
You gotta look askance at me and that's what Toyota's reputation -- safety but they screwed it up big.
And now you know -- -- yet there are we certainly do not think that about you know and we love your ties -- We -- everything an accident -- -- Is it more rating as they call it on the air not -- look at what is scans means that I don't think.
If you look at another word I am already looking at the scan and a well you're all.
-- -- -- -- -- -- -- More -- by the -- isn't anywhere it's high using his son have been -- any eyes -- no chance you can't -- -- this morning people and a -- out all over the twelve wardrobe -- me emails that you all day long -- -- I was here this is this man on the desk.
Is a miracle worker when it comes to producing features did the blood -- when I was sports -- the short and then we both left.
And I went on to bigger and better things -- the Fox's -- and so did you would you formed a production company.
You -- -- -- very long before you realize something within your business right.
Yeah I will we realize is that it's actually especially now with the economy better for us to be an advertising agency.
Because one thing that we're bringing to the table that no other companies are bringing.
Is that we have all the production resources in house to bringing the advertising agency side onto the productions company's side.
What is just an obvious merger and now it's just really kind of -- out what when did you decide to do this real quick we decide is three months ago today we announce it officially out of okay so what he did it what do you do if I wanna come to you what you -- -- for me.
Well what we're gonna -- -- and analyze your business and see if you're forty currently advertising and marketing we're gonna look at where -- placing.
In how we can do that more effectively.
And -- we might move your ad dollars to get you -- higher are alive.
Now you've sent some pretty interesting letters to some pretty big companies -- talking about the Bank of America's in the world and some other companies like that that really challenge them right.
Yeah album we did is we sent some letters are pretty provocative up to those corporations and we got some we get a couple interesting responses back.
In what we wanted to do is we wanted to say that listen we don't want to do business with companies that are just interested in looking cool and spending ad dollars to spend -- dollars.
Are we want to work with businesses that are interested in increasing their.
Their brand awareness increasing their marketing and advertising across the across the board and and doing it -- -- this is just the letter so I would like to Wal-Mart was we don't want your business as he -- too much money -- exactly.
And they come back respond with Wal-Mart did not going to theater company -- -- promised -- wouldn't -- which.
Okay let's talk about this -- -- in the recession people come back at dollars in the first ago.
I can do guerrilla marketing on the web FaceBook Twitter whatever the heck else is out there these days without having to spend any money how you faring through that.
Well that's what's interesting and that's where we're kind of stepping -- is the social media bracket is that.
You can save a lot of -- dollars by moving your traditional media over social media FaceBook Twitter all the other web 2.0 devices and what's interesting is that the companies were doing business with these were moving some of their dollars and cents over there and it doesn't necessarily make sense for those companies do directly I think they need an outside source they can do properly and effectively.
Because just having a FaceBook page doesn't necessarily get you any business doing it right and tying that in with all of -- marketing can be quite effective.
It's never easy to be an entrepreneur or.
In this market got even worse plus you're starting a business from scratch essentially had the ad business you're going up against all will be in -- there.
McCann Erickson Sterling Cooper just kidding about that lasted that but you went up against some pretty heavy hitters how you -- manage it.
What what's very interesting is the feedback we've gotten is we have been able to talk to clients that are bigger than we probably would have ever been able to talk to -- the reason is is that we're showing clients how they can save money and be more cost effective in their advertising dollars the large ad agencies.
Are doing what they've been doing for years there has been no major change in the -- world since the advent of television advertising say it undercut the big guys basically.
We're not undercutting them what we're doing is we're creating -- package that it -- -- all forms of media which is the social media which is traditional print television all of it.
In what we're doing that's different none of those large agencies have the production in house the all outsource it may be out in those companies that they give the business to then outsource that -- Still on the small business and I want to get out there I don't have the money to do any kind of marketing myself what I have the manpower to keep up with FaceBook into -- -- -- -- time consuming.
-- is coming here and -- know top.
Yeah absolutely we're completely all inclusive.
And like I said before we.
Can do everything all inclusive we -- much more cost effective package rate.
-- large agencies could ever do it because -- overhead is so.
I tremendous who we're doing is we're putting people in place that are there from the start all the way through the finish the project which ad agencies do not do traditionally.
Yeah well I was asked about overhead what was the expense for you would -- go from being a production company to being more of a full service ad agency.
What we had to take on some expenses we've -- a couple employees.
What we've done is.
In the past we've actually done a lot of creative for the larger ad agencies and so it's really in a sense not a large -- for us what we're doing is now we're bringing on a couple of key people to oversee certain accounts overseas.
The media buying and all of that and that we hadn't really hadn't played but aside from that our production and really kind of covers the -- We as far as the creative his concerns about story in place what's been your big clients score hasn't been -- -- moving coming out and knowing that I pay attention because of your movement.
Are you want a flat rate a little flat rate -- -- a great deal.
Can you say -- -- -- -- -- -- -- -- What's in your -- course so far well I think flat rate is really been one of our largest mom there a nationwide company.
Their focus is in New York the LA markets there in Miami they're a bunch of other states.
And -- -- company they came to us and they've worked with dealt with some other large ad agencies prior to us and when we sat down to talk to them.
We showed them what we could bring to the table and how much money we could -- across the board by doing by bringing them in on the social media side as well as to traditional media.
This is their first broadcast campaign and we did five commercials all inclusive -- and they're really excited about it and we -- today after the super ball rates.
I'm waiting I have Brian and I very and I graduated is that it's 24 DP what is the -- import bill to pay no kidding.
But that's I tell people what does it starts doing it tells us -- residency did announce a production company name and now it's we're just kind of go with the numbers and let out a little -- -- -- -- -- -- -- -- Frankly Seattle executive producer what's your website if you wanna go for 24 BP to four d.s and Dave.
Thank users that CNN thank you very much I precious -- they fear and when he would DP now it's like -- caught my -- and I thought -- would DP since we're so what's my thoughts are well -- felt excited about it you know my hockey fans so on fifth and it was damn cronies and what they do dual if they actually had at the speed skating events.
In Vancouver during the Olympics in issue with the -- different Zamboni is at one location and these were -- the backyard Zamboni sessions is sort of like saying Kleenex.
You know not every.
Facial tissue was a Kleenex what we call them clean and say that when I first read this I thought you said that I young because -- -- As -- Zamboni is a -- and of ice sheet maker that all the hockey -- used for -- hockey games and stuff like that while they tried to go green in Vancouver and they got -- Olympia.
Ice -- makers and they all failed.
But I would have thought I guarantee that eight people at least in that audience drove the Zamboni to the event.
We're talking about Canada the Zamboni there probably is commonplace in Canada as a -- is in Shanghai right I mean.
Just thought it's global just outside of the arena they had to fly one in from Calgary.
Who do you not have a Zamboni is -- Zamboni no real Zamboni.
They are in Vancouver what -- the good GM place with a cannot play to get the Zamboni and a lot of questions about this.
You heard Chris I deserve about a lot of you yeah.
Yeah yeah -- Terry.
I don't know I think anyways they -- in today from Calgary at all and save the world to say don't don't go green and you're Zamboni just get a good -- by the way.
American made Zamboni -- California through the Zamboni company's all -- by the way this just in.
American Idol won the ratings competition over the Olympics could you believe that because they were -- when he sees comes around every four.
Years of the people have to watch a primetime that was put their best events like figure skating on prime time last night American Idol on fox still.
Yeah BC's -- -- there's.
Yeah yeah I'm trying to like get my kids into the Olympics and the other day turned it on and that was the preliminary so my daughter says what are the preliminaries are so worried at a -- play ball is out with a -- wasn't -- She's seven and she's the title for events like figure skating even the preliminaries of the U wanna watch just isn't US figure skating and I'm sorry but it's just watch -- -- fall.
We've got and that's the -- right you just want I mean it's parallel to watch NASCAR racing him now and -- watched it last night and they figure skating.
-- -- -- -- Alice sends help out there with him we'll take a break we'll be right back.
I'm business dot com live I'm still thinking about pastries frozen into the pastry that I don't those LA -- -- supposed to Zamboni.
That I on skid across the eyes.
They -- pastries the clean up the ice yet that makes a lot of sense.
It's what makes more sense is that it's Fashion Week we still talk about fashion and we have the pleasure of -- having Liz -- here -- Fashion designer extraordinaire and I was just telling her that she has this amazing maternity line for any fashion he still goes -- gets pregnant.
That's fodder for another that.
But -- just got to get dressed your -- where dynamic they were amazing and at least you know as -- swelling and exploding from everything on her epiphany Uggla right -- -- -- really nice somebody.
And you iron target certain people you're maternity Wear the death now people can warm you -- all the time.
Yes and -- thank you very much yes it's nice I have the high end line mechanic I think I also.
And they attorney department have a target location and -- target.com so I have that and Malcolm Munich does that.
You know you are high and brand and now you're down you're in target does that mean that's pretty different.
You know I -- eight years ago so it's actually very new kind of like a pioneering the thing and today hi -- is so common place I think the customer and really understands it and almost.
Target is so cool and so -- that I think it's almost like.
It says how green you are that -- -- target an almost reaffirms a -- and it's -- we'll -- the -- -- up and down about itself.
You know I think we all had a business school professors -- like 98 years old idea I had the old adage.
Know what you do do it well those sorts of things to get all those cliches so you're moving from maternity Wear -- means they are outside an attorney at.
How big of a jump is that because that's what you're known for.
Yes I have been something I've always wanted to do it to be honest again not you know found to to Atlanta for a bit.
It's something I've gotten so many emails and letters about so they have my customers are always writing me saying we want to Wear their clothes and are not pregnant why -- doing that.
And it's been a chain of my directed before I -- -- -- -- lots of fashion is just something that I adore none really excited to be introducing a new line.
Home shopping so tell us about it completely me and it launches February 19.
It doesn't launches Friday I'll be on prime time from eight to ten on -- -- -- now I'm really psyched about his love the customer interaction.
Was it just was -- natural -- I'm for you know dressing room when they're pregnant I -- -- them when they're not.
The name completely he really came about because I was always looking at things saying -- that's me that's not me and -- Somalia out the line needs to be totally useless call it.
Definitely -- and that's how -- got to -- What do you take from designing.
Maternity Wear to what it called non maternity Wear rumors that the best way to climate -- -- Palin -- -- -- -- they're winning back.
Not fat -- clothes definitely not -- To say -- that -- Let's say I didn't think I learned a lot of outfit when I was trying to get pregnant women as an idea of the it channel it's it's definitely hard your body is moving and -- so I kind of thought I -- that you when your -- and I could certainly that you when you're not pregnant.
So that that's something I've learned a lot about it it's very important it.
The principles of my -- line attorney collection or really just this is just beautiful fashion you happen to be pregnant but I think it's just great looking clothes and that's what I'm doing here now that -- happen not to be pregnant.
That line looks very comfortable the price points are really good is this where -- -- is this.
You know a trend that we're gonna start to seem more and more.
To me yes I think accessible price points I mean first off course you've been in this recession and I think everyone is thinking about what they spend -- That's -- just make more sense all the time what.
Wouldn't he I think once you get to certain point.
I just and it's kind of money in close doesn't even make that much sense to me anymore right -- the night -- -- -- I really think that might this change and possibly for for quite awhile.
So so that and I think.
-- the idea being comfortable to me I think you can't look good if you don't feel good so I always -- club and be comfortable because we all know what it's like to bought something that's comfortable -- -- And you never want to Wear and I don't look good anyway because you feel so comfortable so.
How -- -- this week.
You leading up to find.
-- what's important.
And value added it's spotted it's exciting and I'm crazy busy and it's that you've been doing this for a lot and it does that help.
You know how to work this week because -- isn't that important for you to be able to talk to -- we need to talk to.
Can find as many people speak about this you know knowing how to work the week.
Yeah I -- to -- to -- I started with my maternity back in 1997 I was total neophyte but you know today twelve years later in the year isn't bad at math.
Is it also very -- and me doing teenager interviews like catalog.
And I'm really looking forward actually to being on TV and actually getting to talk to the customers directly -- coming on a descent I love that so why -- descent and not and -- can you get this in the department stores can get this anywhere else it's at right now we're launching exclusively on agents and it was just.
It just a deal that made sense to me and really I mean what I said I love the TV component I love the fact that I will literally be addressing my customer telling her how to dress how to put these things together.
That's very exciting to me having her be able to call and asked me questions.
I love that.
So will you be doing that you'll be live on the commercials all the -- every time you -- on will you be there well I -- -- TV probably every other month on -- and live.
But in addition to that like all their other brands I'm the collection will live online -- need to send dot com does even right now.
Even when I'm not on TV and got us from looking at left.
And that's where we're going to mean that was sort of my -- question if people are buying shoes on zappos.com.
People are people are.
You know Amazon would it be by just letting you one on Amazon people aren't going to those stores anymore they're doing everything on life -- wrote this.
Into the were so busy and I live here in New York City -- by anything at any store but I have two children I have a career I can't be -- -- online at midnight even if it's at Bergdorf dot com which is you know ten blocks from -- I know it just feels like shopping online is the future at every price point it just it makes a lot of -- -- store always be here -- -- -- are always a use for this storm.
Well is that.
Hope I don't think bricks and -- -- always important the ideal ideal.
But I think they're both so important you can't -- -- one you cannot ignore that some order aren't a lot of -- the goal eventually be to get this an -- -- did the HS on line.
Yet you know I didn't know I said was like returning where we go through it's it's very trying to be a target that's very crazy -- -- I don't know.
It is -- itself as an option for -- very open what's interesting now is you're probably I mean you have to go American morning -- we have to pay that rent because that he said the world's changed.
And you've probably could do is do we need to do what via the web and came.
And I might have an easy way -- you -- go Britain went his way for Walgreen -- -- closing these Duane Reade stores around and had immunity -- some pretty cheap real estate here.
-- -- on the upper east side alone.
I think everyone should make sure they tune in HS sent.
Seven ranked Friday -- fifteen at nineteenth what time.
8 PM eastern standard time do you think that he did it to talk until eight to 102 hours and yeah I'm kind of got up and I honestly.
That's how I got my pregnancies thank you pay my parents that's who was Jesus and I comfortable in all only imagine.
Google is laying it dot com as well.
That's Annapolis that -- Little karma karma couple points total points seven -- taken -- nine.
Then yes we got some decent numbers are gonna get -- in my -- and in the misery index.
It's not from what we saw it come not it's up and you know in mind the what does that mean up -- down less.
Most miserable --
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