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Hi happy hump day I think act -- here that -- -- crazy.
Wednesday down standpoint points and Tracy burns is at the end -- We -- talking yesterday about how the Fed is gonna -- some big announcement at 215.
And I -- you don't but the farm that's going to be anything instinct.
And -- of my manic market -- -- any points on the news because they basically said nothing.
They did say that if worse comes to worst they will get involved again.
Again though with the same policy scenes stuff nothing new nothing revolutionary at all.
And I said this once upon this -- let's it was here but out but I'm sunset that the definition of insanity is doing the same thing over and over and over again expecting different outcome.
So this my friends it's -- it's insane because you would think at this point.
We would be talking about how the economy's getting better and -- that people call retraction.
Which -- and so that means let's Jackson interest rates up a little bit to slow down the pace of growth.
Yeah so we're still -- totally lost and who knows where.
There's no room for slowing anything we need to speed everything up still so there's still talk about potentially infusing more money.
And I don't -- that -- interest rates at this point because they're so darn low to begin with.
It played around the housing market yet again just -- none of it is working -- and sense that it.
I'm saying it's insane cut it out.
Act and act that.
US house prices did fall for the second straight quarter that's not good news as far as housing market goods General Mills -- -- -- Cheerios Honey Nut Cheerios were big fans those in my happened so inexpensive well it's no wonder.
They -- net profits rise 12% now they settled on hedging it probably is.
Lot of improved margins they're getting better prices on their greens and things like that all I know -- is serial keeps going up.
I keep buying it it's rest of the world is -- so as a result.
Animal mills had a good day.
US mortgage applications to go along with the housing prices being down US mortgage apps were down a little bit -- We -- a huge drop -- and last month not nearly as big but down nevertheless.
And of course we get some people leaving DC Larry Summers.
Congress who helped to basically the president -- his economic policy.
Is going back to Harvard because he needs an -- keeps his tenure.
My big question that nobody seems to answer.
Did you -- -- was gonna have to go back and get his tenure before he took the -- -- we don't know this is gonna happen.
Whenever they all people even -- -- Christina -- They just dropped -- plans I don't know it's not working.
But take what is working out McDonald's.
You know pocket and a by the way coffee fantastic.
Battle like at McDonald's -- -- -- -- -- Might Tillman is in Chicago Illinois talking about McDonald American icon look you are -- -- McDonnell.
-- can you believe I'm sitting in a McDonald's take -- -- I'm next to the fire plays -- -- Mike cushy leather couch going on.
I've got I got my mic lattes.
And whatever he said cool off because you won't have -- yeah.
I'm dedicated rallies and -- Made -- do you see any value -- We Chicago we call that caffeine.
But all of this is -- -- is about the evolution of McDonald's they're changing all the time they've got a healthy options in the menu now all the cater to the people who are concerned about.
Slime you look around the -- that pretty much -- McDonald's as you get the line but you've got the -- cafe.
But that Starbucks down.
-- and you've got wrapped and still if you want to go ahead and get your.
Prize in a big hurry -- muffin might relate to -- you hit the drive the you do that enough is.
Now they're keeping the dollar pulling in here Tracy McDonald's has never.
Had they have -- -- -- -- quarters -- never really had a bad year the stock is up about a 130%.
From the last five years have we found out here right now.
Operating revenue up about 90% over the last five years recession what recession there's gold under -- markets it.
You are so great and you know what compared to burger king and Wendy's McDonald's still keeps hanging out of park so.
You can't say it's -- fast food it's still something about what these guys are doing.
I don't know it mean that every -- eleven the -- days are the -- movies whatever they are these days.
They're certainly doing something right and I will say the coffee again is actually pretty good.
-- -- -- The -- is just fine.
And -- you know -- -- abolition and don't forget the marketing juggernaut that they are.
The marketing juggernaut that made the Ronald McDonald just about as ubiquitous as Santa Claus when they go and make -- change the menu and make sure everybody knows it.
When -- change in all of these restaurants the revolving all the time they've other remodel about how.
Half of the restaurants in the country and they've already got a new remodeling design it's gonna include flat screen TVs their company -- -- -- days of all with a wanna be has turned customers in and out of a restaurant those are those are gone.
They want to sit here with your laptop teacher -- -- coffee.
And ahead and stay for a little while keep buying things off the menu.
I let my say that by the way but but let me say as a Monday.
I don't wanna sit with them money anymore right -- growth in there -- greasy Fries I would like to think my.
Cup of something that I'm not gonna say -- can -- may have finally.
In nice little -- Enjoy him while they still down Fries and all the other stuff -- and -- eats meat makes perfect sense.
I think a lot of parents and makes a lot of sense did they get the kids safe to eat something that they're gonna wanna -- get some food indicated they get on the laptop checked FaceBook and wants to TVs go -- -- actually -- -- news headlines -- a little flat screen is beaming into the side of into the McDonald's -- So you know it's a solution -- just trying to make themselves as customer friendly as possible but that's what they've always done that was the whole idea fast food in the first place make -- easy on the customer.
It's a good step -- I -- in the day comes where you're watching the Sunday games at mcdonalds I'm now I'm an ad -- -- really have to think twice about all this.
It -- -- -- I got some clarification on that they're not gonna show the football games early and show cable news you included saying but they FO -- If all games to become problematic because what you get you know the Green -- games from a plane near Chicago getting ahead like the fight breaking out the minute you McDonald's.
Some of the and that they're -- -- saying in case.
Mike -- that you don't love my fluffy -- in the -- day's -- thing to bed CN date yet I'm guessing you don't like -- live in Chicago did -- -- -- -- -- McDonald's I don't know it's not a general idea could fill line with every time -- -- -- -- -- McDonald's -- -- There's gum on -- but inevitably there's -- you shaking your head right Rick Lazio at -- -- -- you shaking your head.
They've gone about -- I did is that acceptable I did so we've -- also we're going to official Fox News coffee no more all want pain -- -- great things so we got the sponsorship -- in the right away.
-- -- -- -- -- -- -- -- -- -- I should make it very clear that -- sports and a fox sports analyst and radio talk.
It doesn't really talk sports -- you have to actually there's a lot conine yet you articulate myself but doesn't know a whole lot about sport I went on why the pause giants jets -- and they're both hello my answer was going to be -- It building on who won the day before to pet.
None of ethical my son as it blew out my son is nine and I -- on the single mother so I learned.
But a lot about sports over these last couple years because I'm at everything yet can't wait for the next ten years with a learning -- can let me tell -- let me tell me an and I got to pay attention because I didn't I didn't -- -- -- -- -- despises him a piece -- paper did you see -- -- -- deceit and must -- make -- I did it.
-- -- -- And the business issue that's we're talking about day today while blackouts around the NFL if you watch on -- -- you -- see your home team.
We'll cover all that your agenda you go.
Okay wait but first -- let's talk about this are you -- let's show you book.
Box score beyond basics behind -- on the box score Carlos wanted to and I.
Wrote it together as a an effort to reach the common person by the way.
-- person who wants a little bit more about strikes and labor in stadiums and sponsorships.
But never wanna get into the details of -- so it's kind of eight or nine different elements about you know wire -- the cost they are wire stadiums across there.
Public money for stadiums where the teams moving what about franchises expanding will there be a strike next you're a lock up all of those issues big and we're gonna be you know more and more with you for the next few.
You and I hope you are because there's a lot going on and a lot of it actually as a mother now just means it.
Contacts one of them that these guys get paid a load of.
Money but they're only with the NFL for 34 years that's their -- -- and by the way teams.
The Miami Dolphins -- one point one billion dollars its soul force so it's not for the faint of heart part of processing got to pick your players why -- you spending a lot of money for the tickets.
-- but then why this statistic that that some upwards of like 80% of them are bankrupt.
Five years after that they walk up the field another issue for another day good question though there's got to be able to manage their money which I can't.
Date which they can't so should an -- be responsible for a player who squandered his money after -- gets a paycheck no but somebody should.
Somebody should we have Woody Johnson I've -- already done it before -- the jets and he's adamant about trying to -- he's got about money right and then if you put too many restrictions on the agents are gonna say give us the money -- -- what to do with that but the point is they don't know what to do with that that's a very good point and that's so -- strikes now are we gonna see that.
It's a very important time in life now because all four major sports have agreements that are gonna expire in the next year.
And so Major League Baseball.
Labor peace -- basketball hockey but now football you got to find some way to pay the salaries the players and owners have had a partnership.
But the guys leading player and owner negotiations are new guys Roger Goodell took over for Paul Tagliabue in.
Took over for the late Gene Upshaw did a great partnership.
-- got a couple of rookies heading the negotiations the answer is I'm not sure it's going to be a big issue.
Here's the thing I -- hoping very cyclical right -- we all need each other.
I wanna take my family -- games but it can't afford to because once we not gotten dynasties in -- of itself -- a joke now than I gotta feed him then again I can't park and had to do all the stuff.
But -- final come and he'll fill your stadium.
-- -- not making any money.
But here's the dynamic it's a very interest in one.
Fox and everybody else big time -- sixteen billion dollars for the current television negotiations they want these people.
To watch it on TV as well hi Def 3-D all that kind of good stuff.
But the stadium operators in the -- say we -- haven't come to the stadiums as well.
The TV experiences great.
The stadium experience needs to be even better.
Bigger scoreboards new meadowlands stadium opened a couple of weeks -- one point six billion dollars had -- like that mortgage one point six billion dollar.
I Brandenburg area girl there -- -- Brendan -- area that hot but under and I know the whole story yet we'll -- we think is under the parking lot but that's another story for another day I get business -- -- half -- run every single time.
It's first -- -- it's egregious.
It is ugly and big and expensive and it cost the state a load of money are we ever -- see that back well.
It cost the teams a load of money if I'm the state.
And the transit system and parking.
So believe -- or not we have a better way to get from the meadowlands to Manhattan and other places in the ever did before.
A billion -- lot of money and a lot of people are saying it looks like the old stadium just a lot more expensive right big new cowboy stadium cost one point two billion not and had either a billion to a 1000000006 we really can't tell what the differences.
But a hundred million.
Dollars was into technological improvements for the new stadium alone -- -- Smart seats great cellphone coverage all of that.
Plus the bottom line is it's now for the jets and the giants called new meadowlands stadium not the giant state by the way -- 650.
To turn the stadium from giants blue to jets green at the end of every game -- so -- that.
Lot of switches flat a lot of stuff lot of good stuff and the teams are one and one -- Ignore that though -- yes is it worth it felt like look at Citi Field you know -- stay I mean my god I guess you could be better at those stadiums and you can emit the most restaurants and that.
What -- -- remember it in an earlier life I was the one that helped get twenty billion dollars of taxpayers' money for all these stadiums so I'm a little bit biased but is it worth it.
New York -- the Super Bowl 2014.
-- a half a billion dollars of economic impact that they would have gotten otherwise.
The mega events certainly are not possible without these new stadiums and let's talk.
In mid January about whether or February whether New York this on economic impact there most people say yes.
That's and that's about -- but -- let's -- -- of the teams that don't have the -- well.
They don't have the money that it imminent it it's just think this huge.
Separation between the -- for basically right -- -- have your teams that are broken and unless some Angel comes in with money.
Then not get it.
How about an Angel throws the football catches -- football or they're investors that need to do the deals now.
Most of the stadium deals have been finished around the NFL so they're cyclical they're still.
San Diego needs a new stadium LA needs one San Francisco -- want.
But most of them have been done over the last twenty or thirty years so the revenues are they are now the big discussion is how do you share them not just between players and owners.
But that happened have not -- to Cincinnati Bengals New York Giants to different markets what happens while there's a revenue floor any revenue cap pretty complicated.
But the bottom line is there is a sharing structure today.
I'm afraid over the next year before a lockout or a settlement there's going to be a lot of tinkering with that structure.
And then the disparity.
-- well but the risk is by the way it's eight billion dollar business the NFL so.
Nobody wants to mess around with that huge eight billion dollar goose that laid that golden -- mix a metaphor so the best thing we've got now.
Is that there are a lot of people committed to keep the system in place.
Look I did play actually I did baseball season.
Look I'm glad love for -- season it is way more fun FaceBook can take what ever but especially to go to.
A little late game when these kids -- Let's start at 9 o'clock at night so when you're nine year old wants to watch a game it's 12:30 in the evening it's World Series and you've got to put your kid to bed -- upset if you.
Do you want right now and that's the bottom line have botnet that's sick -- -- but.
Did -- think will blow leaves her hot and you can't manage how can do no wrong right for the most part they're going to figure this out.
Right at the other question for this week is there's a policy where two games not sold out 72 hours before they kick off.
It's a -- they've had that rule for thirty years why because you wanna -- people to go to the stadium.
Tampa Bay first game blacked out unheard of San Diego Chargers first home game blacked out.
Eleven markets according to USA today are struggling with may be future -- -- so again.
Don't worry you have good experiences about viewing the game at home the more you risk these future blackout you gotta put an entertaining product on the field.
Everybody can't win I guarantee you half the teams lose every game but you've got to have an entertaining experience for people are gonna go.
You're right and you got a big games because of their bluffs on Afghanistan counter cold especially if you're on the back -- of the giants colts lost but that's for another -- Beaulieu yet let's talk about.
Other sports -- you do everything correct right.
Two big things soccer right.
And I want to talk about the UFC and mixed martial arts and well that's -- sir Paul yes go do it wait listen -- that it will cut right within a buzz kill.
Well there was a buzz kill when we lost the US lost in a game that they should have won.
But the buzz kill is not going to be forever.
If what predicted to happen happens up early December what happens.
-- the international governing body chooses 20182022.
You're probably get 2018.
But for 2022.
-- -- center on the bid -- a competing with cutter Australia Japan.
Places where we should hold our own 21 stadiums built in the last few years or renovated.
5 million tickets projected.
Its huge dollars that America is putting forward and by the way if they get the bid in December.
20/20 two is a long time from now I don't know if I'm going to be alive on Saturday let -- point 12.
But Americans are now focusing on what happens to revive the World Cup shades of 1994.
It repeated it renovated it inspired.
It took the next step for soccer and if it happens here we go again here's a thing we'll soccer -- ever be one of the Big Three.
Especially when it's competing with football season yet well a lot of people are saying maybe it's one of the Big Five one of the big six.
Obviously baseball basketball hockey football NASCAR is in there somewhere when you talk to Don Garber who runs Major League soccer.
He says we just gotta be competitive in there.
Got to tell you there have been thirteen new soccer stadiums which are driven by the MLS teams built and finished Philadelphia there's one -- New Jersey just across the river.
LA a lot of places so the backbone of these facilities.
Is the future of the week.
And the sponsors international commitments the success of the World Cup if they get 20/20 two -- alive and well.
Will this -- the -- that brings women to the forefront because for this.
Other than tennis right I'm in the WNBA god bless them we had a president here they are trying to you golfer.
About golf now I see -- very very sports centric if you don't play it.
-- -- -- -- -- I'm not sure that's the right answer ladies and gentlemen.
But her questioned closely watching golf is like watching paint dry -- -- all due respect we just cut the demographic for her go by whatever.
Golfers if you want to we're gonna have a show that's -- dedicated to the business of golf where it's come come here.
-- -- handle the best thing mitigate that let's not understanding you'll -- -- -- soccer though that is a heavy female demographic.
The NFL now 41% female here's the broader answer -- Viewing you mean viewing yet know what I can kill you you win her queuing queuing up buying the merchandise -- sponsor product.
The bottom line is in this turbulent economy.
Sponsors league's teams need to be much more creative which means appealing to all kinds of fans will included men and that's why we're seeing already we're talking resurgence of.
Supply that's you know last year was huge everybody backed out Pepsi didn't wanna spend -- -- -- -- saying we're back -- it.
-- -- came out way too good example for everybody who wants to follow the business and we right in our book about how to put the Super Bowl together three.
Million dollars per 32 -- That's really expensive well when you talk to the agency should talk to corporations they would rather spend that three million.
Then spend a lot less for something that doesn't penetrate nearly the number of viewers so it's big time appointment viewing Super Bowl is what.
Penetrates more than anything else does and that's why it's the most highly successful.
Business and butane and television got the game in Dallas assistant next year Indianapolis after then -- obviously -- -- seconds in New York.
And when you ask yes every one of them or was it the biggest -- ever yet and by the way that was more of a social event anything -- -- -- -- we understand.
What the Super Bowl did for the city of new world -- Katrina which is another entirely different issue.
Yeah and again we've had all them on and they've all been wonderful about it myself at a golf institute because you haven't I have only to turn off -- got.
Did you read about golf here at about Muslim kid why did it's OK so let's talk now that's something else this hole and then make -- that it's decrease.
It's it's it's good but it's a lucrative crazy -- -- very positive business grade.
And it used to be that this was a minor irritation now when you look at the numbers for sponsors and fans and viewers.
Relative to box it certainly relative to other kind of wrestling forget it I mean it's way above but relative to boxing.
The boxing industry needs to stay relevant why because Dana White USC and MMA.
Have all taken a giant leap ahead of them and we'll continue to do so.
But it's not just the events right there's clothing I mean everyone's wearing affliction clothing line I know girls thirteen year old girls that are doing it and -- this is this is.
It's getting everybody and -- only.
That that's only in your neighborhood -- no it's not every dollar -- -- -- bottom line is when you look at the successful growth sports.
And then -- UFC is way up there great management.
Out of the box thinking great vision so that's one of those businesses we profiled on the road yeah you're going to be seeing yeah it's actually.
We should interview Dana together so we'll do it right we'll get him on the business side the sports side that's perfect we'll do a lot of stuff yeah.
And make it holds.
So called me that we can do with the driver will teach -- play golf to -- apparently nobody in your world plays golf or not everybody like well that's why golf that's probably why -- and in denial that.
If I were taken a break -- now we're -- -- back off.
But will we will be back the Dow is down twenty points -- NASA -- Of that.
Welcome back foxbusiness.com live I think I have plans and think I know you're -- up at -- got what amounts of human eye to eye distance on my son will be proud.
Unless an elephant on the news quickly Dow down 21 points nothing really we were up a little bit we -- the day off hearing though that.
How -- home prices fell for the second straight month.
General Mills started our day -- profit came up 20% it was hedging on their commodities products I still think it's the cost of that damn box of -- -- -- Cannot -- yesterday's federal resume the reserve.
Two came out there announcement that they would stiffen again that they had to you.
Come on that nothing -- nothing innovative.
He's gotten up and and that's how the market fell and it fell -- points.
And -- US mortgage applications are down a little bit so that little pop we had might be over for a bit especially now that.
People -- settled kids are in school that's generally when people move.
But let's talk about.
-- business getting an out there business developments.
We get this entrepreneurial thing going here so we have John dance with us right now he's the author.
-- of the referral engine -- a book.
-- -- -- -- -- -- I'm sorry you're that here is my eighth minus -- -- I thought I should have -- You also red duct tape marketing did right and my first -- conducted -- let's talk about this step because these days marketing.
While really important.
I mean it really tee and you could -- -- -- even corporate.
That there's some really really great avenues although I will tell you.
One of the things got harder is it so cluttered and in this community at the Internet you got all these other places to get the message out and so.
You know this particular book -- written called the referral engine talks about building this trust that it takes for somebody it.
Because I mean anything to your own life.
-- mean somebody tell you all know here's -- you -- go to year you're Korea to do this and not a referral really carries a lot of weight right yeah and and so for the typical small business and you were talking about really big businesses through here.
The typical small business they really depend on that referral or on that recommendation soon that's treated its FaceBook.
Well -- can be done across offense to of course you know as a referral but certainly.
It's Twitter it's FaceBook it's when they go online to search I mean 90% of folks -- -- -- -- what we're gonna buy they start sometimes on line.
And then they worked their way -- so if they're not finding you there in the united get to -- I would.
Think that one of the most important things you can do is somehow get your name to be different that your company -- to be the first thing that comes up when I put in Google well absolutely important and special for the typical local small business because a lot of times it's.
It's not just for the category plumber it's plumber in Orange you know New Jersey right right right yet to come up for that very hyper local search.
Or you're not even going to be yeah I mean you're you're not really even in business anymore because so many people don't care what category it is -- are doing that.
-- even with you dubbed American Express Verizon HP.
What really label Clinton away from those guys and you know applied to the start -- that's at home right now the basement.
Well I would -- the biggest thing that I'm doing with them and I think you can take from them is I think a lot of those large organizations that that want.
And have small business as a customer I realize you have to try to be more important to the whole world.
So those folks are producing lots of educational content and marketing content and things -- maybe unrelated to their products and services.
To build kind of a social community around their brand and I think even the smallest business can take that lesson it is.
Today become so important that your putting lots of educational content out there on your website on a blog so that when people come and they do find you.
They realize hey this this person knows what they're talking about they're -- a lot of great information on how to use on some of my problems and questions and.
But is it overload sometimes I mean yeah right like if I get emails from -- know I know.
I get pitches from PR people all day long and nine times out of ten I don't even read them.
You know what what are the -- you do read though.
People that maybe take the time to follow what you're doing maybe they comment on your blog that comment on your show on the notes and -- build a relationship right or.
Or maybe one that somebody comes -- and -- -- this person really knows what they're talking about you should talk to them right they refer I mean you're more likely to listen to their pitch right kind of proud that and that's I think the real point here is that we've got to get to the place where we can build those kind of relationship to get those kind of introductions because otherwise.
Those are almost spam right -- almost cold calls.
Well yeah I mean anyway because I delete them and it's a -- we're talking about -- time I've gone back to old school.
You know shaking hands -- people -- -- -- I mean it's old school vs new school because we've also then got all these great new tools I mean I can subscribe to a person's blog had made you know hundreds of journalists blogs and I can know every time they write something now using.
Google alerts or something like that so that I can.
Plug in and start you know building a relationship with them so.
I mean it's really this fusion of the tools as opposed to just -- -- got FaceBook now I've got millions of new you know prospects it's.
Right and I have all these friends and you can you know -- now all these friends and I'll I'll just to lead to death so what do you -- would have some of the trends that we're seeing in these small.
This -- as far as their marketing goes well I'm certainly using the online tools you have to be there -- people have to find your -- you need you have to get over that hump.
But I think probably the biggest trend particularly the local business -- use of online presence not as a way to.
To not interact with your customers but drive them in your store -- -- -- -- events and he really -- offline as well.
The other thing that I would talk about that I think is is an absolute must for small business.
It's really focus on building your own strategic network a referral sources so these are other businesses that maybe have your same target market in mind.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- You hear what you said about using it unless -- -- -- -- the web you know.
We -- a few people here as America will recommend golf was one of them she's a designer and during fashion -- yet scavenger hunt.
She sent out kids all day long I think it ended in one of her stores since he had all these people ran around Manhattan on ended up in her -- I thought it was a brilliant way to use it.
Do you think medium and get people to where she wanted -- today.
Yeah I think that's a great example of the point I was making this online to drive them all right line.
It's that fusion of people that really get that.
I think as opposed to oh look I can mass email bunch of people million but really -- -- get that integration that's where the magic is because some of these tools as you mentioned re getting.
Very low cost maybe in some cases no cost can really supplement -- -- doing it may be traditional media are off.
But it's a lot diminishing returns -- -- because the most it and the more you -- what lesson gonna pay attention.
Well that may be your personal experience I know the golf tip INS yeah now -- gallery -- actually.
That there is a diminishing return but there certainly is a level where you need to build trust over time and that does sometimes take multiple.
Contact yet here it is okay so the book is the referral engine.
John -- and the other one is that -- marketing which I think actually was.
Ford's favorite was actually it's it's -- -- it's kind of roadmap for the small business yeah it's been great and ask him on the fast money -- companies that list as well.
-- -- -- -- -- -- I think it's key these days and I think the problem was a lot of businesses they had to cut costs and marketing was one of the first things they cut and unfortunately I think that's the wrong -- could happen.
Yeah -- when he can do it all for free -- that don't come market at the expense right.
Exactly Don thanks so much of -- on us.
I -- keep talking about the customer and how to take care of them and what you should do and we until now about employees should you be taking care of your employees during all this from -- to Seattle.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- You -- happy to be here again -- talk about -- sad about this you know.
Pampering your employees sounds fabulous and I would lead to -- 24/7 but.
I'm really great people have a job every day like you has continued Antony and do anything you want pretty much -- make me work 24 hours is because so -- are unemployed.
Right right that's a good point but the key is you really want to hold onto your good employees right of people that are doing you know a good job you don't want to lose them.
Two another you know company because companies.
That that could happen so I'm just all about appreciation.
And it doesn't even have to be anything fancy or expensive just that you know just -- thank you you know hey I noticed you did.
Really great dot job on that project the other day that was fabulous.
You know thanks for a job well -- you would be really amazed how far that goes just to feel appreciated in that way.
I agree because a lot of times you only had a bad stuff you not.
Every word you right you don't hear the good -- even if it just enough to say great job.
Sometimes I think we we remiss we don't do it enough.
Right well and especially on the I can speak from my in my experience with the sales professional -- always been sales -- sales people get thanks a lot we get lots of rewards.
Incentive bonuses all kinds of fun stuff.
And what I used to notice and the organizations where I worked was that the other employees.
Didn't get that you know -- their jobs were just as important as the sales team but they didn't have contests.
They didn't have incentives they didn't have fun trips you know they didn't have president's club.
And so I think why can't we take that same idea that -- sales forces and those people.
And you have put that into some other departments and because everybody likes to be appreciated not just salespeople and it still didn't really do that's part of why it.
Gone into that business because that's just part of you know what you get -- But you know everybody likes to be appreciates what am I just think we can really learn something you know from that the budget isn't really guide these days people on the money to go out of their way into people on trips and offer big bonuses and mean it.
What do what else could they do if anything other than the -- pat on the back.
Well I think that it's -- -- scheduled team events you know that you have some kind of a fun contest for a particular department say hey here's our goal this quarter.
You know if we reach this goal we're gonna you know have -- together happy hour.
You know -- something like that or we're gonna you know bring bring something you know cater for lunch to the office -- me.
Something it doesn't have to cost an arm and a leg but it is some kind of break.
And you just want to make sure that you've got that goal set out there so maybe it's not just.
You're just gonna get a report no matter what but it's you're going to get this reward if as a team.
We hit this particular goal and then it would be easier for the employer to justify that reward.
If the goal is met because obviously that the goal should be somehow tied to the bottom line so you can afford to to give the reward.
You know I -- that people on our -- they get good constant health -- came up.
Healthcare is a big concern -- seasoning -- my health benefits actually isn't really didn't get nowadays isn't it.
Yeah oh absolutely we yes we need that.
And that's -- -- be part of the overall benefit comp package that you want to keep me happy want to see -- -- -- employees happy even in this mess of obamacare you got.
Offer health care benefits.
You really you really do and you know they're they're also compromises and that way too you can always.
If you can't offer the full meal deal so to speak you know you could do some kind of cost share.
Type of a deal with benefits -- the employees have got to contribute something.
But -- you have to do something in in the realm of health care to take care -- people make them feel.
You know like that the place you want to work -- they're gonna get.
Decent benefits now is there anyway that -- all these incentives in perks can backfire on you.
Absolutely and especially you don't go back to the the world of sales and that's the world I I live in I think what can happen if you do too much of this is people start to feel entitled.
They start to expect it.
And then if you're in a situation maybe you know with the budget where -- you can't afford to do an incentive a particular order for example.
And people are expecting it.
Then it really backfires then it is really negative so.
You just don't wanna go overboard you don't wanna do it -- too -- you don't want it to have it be to over the top.
Because you don't want people to feel entitled light will -- you did this last quarter so I'm really expecting it.
This quarter -- of the cool things -- CNN your comments or woman entrepreneur our.
Magazine what are some of the things that you've seen out there in your research that it just you said yourself that is a cool.
Incentive or -- to offer someone.
Well I -- I think trips are fabulous but those could be you know expensive and want things I think that employers can do is they can make it personal you know get to know.
Your employees you know maybe there -- a group of women for example that worked closely together department maybe they'd like -- spot -- you know.
And that's going to be different maybe than a group you know men not that I won it -- -- I expect it but you know maybe.
There's a group of men it would like to go play golf yes I think if you can make it specific.
And make it personal because each individual is different some people are gonna love -- some people -- gonna like an experience.
Some people are gonna like.
You know and a -- happy hour whatever -- really get to know your employees -- it shows that hey I know you I appreciate you and I want to give something to that I know.
You personally are really going to enjoy.
-- we got to believe that hasn't economy some.
Who makes intend to turn itself around is going to be more of the need for employees to pay attention to -- employers to pay attention again because for awhile I think they were able to rest on their laurels.
With you know as I said earlier at least have a job leave me alone sorry there's no toilet paper but I think we're gonna have to do -- -- -- that soon enough there's -- -- be opportunity companies are gonna start hiring again he might see your good guys scooped up by somebody else.
Yeah and I.
Think what's happening now hard -- you know in addition to people who are.
Unemployed we have a lot of people who are underemployed.
They've taken positions that are really beneath them in terms of their qualification.
And frankly they know I'm gonna ride this out I -- -- job -- gotta pay the bills I'm gonna take this job it's it's you know I'm way over qualified.
But I'm gonna take this for awhile and when things turned around I'm jumping ship I'm gonna go get the job.
That's you know that I'm qualified for that pays more that's got the better -- -- -- -- it is better benefits.
So that's something you're absolutely right I think things are turning around and it's gonna happen you know it's -- where you were on our way and so you.
Really need to take care of those employees especially the really good ones and I think they'll they're gonna jump ship really quickly if they're unhappy.
-- yes they read about that because it's been a long road.
And you see -- president of Citi into Alan Seattle and economist for woman entrepreneur mark thank you so much for sharing your thoughts.
You bet thanks Tracy -- day.
I still looking got a good few people you present and rain and with all this great stuff.
Nobody commented on my can you spare a square line now.
I don't really know what signposts -- the -- like everything I've listened you don't remember it.
Elaine she's -- bathroom.
-- I think of breaking news senior member Eileen I'm felt spare stairs where my kids down thirty points right now it is -- her and hunger in.
At best we'll be right back.
Welcome back foxbusiness.com.
Live I'm -- burns the Dow's down about thirty points.
And I has finally remembering this time found that says I'm sorry that -- myself with that.
It was a long time now I think I was in college lose one of my favorite shows if not still Tuesday.
Minnesota not some of the big stories of the day will quickly run through them again General Mills came in with great profit 12% mostly on hedging costs.
US mortgage applications were down.
So lately blockbusters filing bankruptcy this actually bums me out because I don't know -- -- get movies any other wedding.
-- I could do most things pretty well but this whole movie thing throws me off.
And the kids and I actually like the whole notion of going to get -- -- movie the store can do that anymore.
Larry Summers we mention earlier is the economist.
Working with the president basically worked on a whole big.
Economic policy plan going back to Harvard at the end of the year to make sure he gets ten year -- things here one.
Allison -- -- the guy that he was gonna have to go back for as little ten year agreement and to.
This is is another reason to -- tenure but that's to -- And pioneer times projects of their revenues -- going to be down to 3% -- talk about the content and the New York Times but this is it.
Again and what's happening to the newspaper business and as a whole where it's going I don't know of anybody read the paper anymore actually if you do right into the chat.
And he should -- to give me an idea how old you are because I think.
Old folks like me an -- still do flip through the papers it's this old habitual thing that we do every morning.
I would venture to guess that the young people of the world.
Don't even noted newspaper looks like and certainly don't understand complaint of getting -- all over your hands on the train in the morning -- you read it to remedy.
I there's a lot of cool things going on in the world which is part of the reason why we're not reading newspapers any -- -- Nazr has taken off.
And -- -- is -- this right now he actually was a veteran at Microsoft great wanna go first timer quite frankly where there in the very beginning.
Founded his own company and I love -- -- it's.
I'm let me say this right hole.
A lot a low for not passing it right pull aloha Diego police aloha robotics so a low hot like the Hawaiian.
-- Right right wouldn't -- that with a hole in front of the whole aloha itself Hawaiian for caring companions.
It's awesome name for a company based on what you're doing so the company is so now you're you're in the robotics world.
And I love that you're focusing on the older generation and helping them.
It turns out that they're there over fifteen million people today and it's an the larger segment largest segment of that is.
The senior population that needs some form of assisted care.
But actually goes through a wide spectrum of the entire population.
Their children who have -- growing incidence of autism.
Throughout the world.
And then we have disabled veterans and and people let me just go in four hospital procedures.
Or you know new mothers who come home might need an extra hand around the house to help them.
But particularly older people because people like for example my generation the baby boomers.
Our actually turning 65 next year.
And as they they will constitute a huge.
Growth of -- our senior population.
At the same time when we're faced with a a a shrinking number of people to support the people to support us as we grow older.
So we're not in the Michael listed.
Get phenomenon dad could you talk about the fifteen million people now and then expecting that to double also I mean this is -- great market for you.
Yes it let its its its touch it it's actually the challenge that cause me to think about leaving Microsoft was to try to address this.
I suppose in in a minor way it's kind of like you know Bill Gates having left to to go on to greater measure.
I'm able to bring the experience that I've learned that Microsoft for the past -- -- eight years and try to apply it to this.
This huge challenge that that we're facing.
You know some people refer to it as a incoming senior tsunami and other people referred to it as a quiet as as a perfect storm.
It's a confluence of a growing population of people that need care.
And not enough people to take care of them and an excellent opportunity for technology to try to fill the gap.
And so my company's goal is to try to provide.
A set of software and services that can run on.
Robot's very simple robots that are basically an evolution of PCs.
They can help address that gap and allow people to.
Continued to live independently.
To be self sufficient and to be productive members even as they start to fail as they start facing challenges that come with aging.
So what kind of robotics are we talking about here I mean I can't help but like -- I am again aging myself think of the -- since.
Where she come there and their housekeeper comes slowly and with a little.
Dust cloud -- -- got a broom clean and.
Right well well such robots almost exist right now is there a number of companies like Honda and -- And many other companies -- a number research.
Universities -- working in this space.
Who have demonstrated very advanced kinds robots unfortunately those robots are fairly expensive.
They would cost probably in the neighborhood of between a 100000.
On up well in terms of that dollars in terms of the cost so what I'm focused on is of that simpler generation and -- initial.
Early generation that is somewhat more of an evolution of the basic PC.
-- imagine what's in here components of your PC today.
And we -- set a wheels a few extra sensors and and a nice framed her body to -- it all -- that makes it very interactive.
Your base and that's basically what I'm talking about targeting.
And I'm working rather than working on the hardware.
-- -- will be focused on the software and services and the user interface the way people interact with the technology.
And I'm working with -- other companies who are already in the business of building hardware such as.
I announced on my website we have a working relationship with the French company called -- soft.
Was actually building such a robot but what they need to power it is the software and services that whole aloha will be building.
So let's talk about not -- and then you're going to help kids because I also know it yet another senior notes that.
But we -- million kids are afflicted with -- in these days it's astounding number.
What can we do to help them because god love them we want to get them assimilated back in the world.
-- turns out that a number of universities of which I have really good.
Relationships with such as USC.
Georgia Tech and MIT and many other universities are actually using robots very effectively and therapy with children with autism.
Helping them learn to interact in a more socially appropriate way helping them to work through their.
Through the challenges that they -- out.
And so that's an that's an opportunity for my company as well we'll probably focus initially.
On the challenges that come with senior care but there's there's ample opportunity to use the same kind of technology.
The same kind of form factor -- to assist with with children with autism as well because as as you point out is also a growing issue in this country.
So we have both on both sides of the spectrum we have a growth in the incidence of of things like alzheimer's and parkinson's.
And also -- growth of on the other end of the spectrum of things like autism.
And so my goal is just really tried to address this is growing social need.
Using the experience in the technology that -- and and working with partners that are out there so it's not just about me my approach is really to try to.
Tap into the creativity that other people have and do it in such a way that just as apple is done with the iPhone and the iPad by not only.
Delivering a great product but also enlisting other companies to offer their software applications.
And hardware applications to two.
Enhance the product as well.
Does not -- -- -- Simmons is right in in -- unions can't be happy about this it's funny because I was thinking the same thing this is not gonna help job creation and I suppose.
As far as you know and right now nursing for.
Our older generation is a huge place -- job opportunities.
I guess you can arguing there's -- and you gonna need people to build these things.
Yes but that the situation is is that based on current projections.
There are not enough human beings to take care of the rest of our human beings that that will need this kind of care.
So this is not this is not to replace jobs.
Or that jobs will be lost out of this.
This is too to make up for a deficit that that we will have.
For example already in in Japan one out of every five people is over the age of 65.
So they're losing people not only out of the workforce.
But they don't have enough people to take care of their senior people as -- as they're -- right now.
-- well it's not a matter of job replacement here it's a matter of supplementing that there needs in this technology.
Can't be used to enhance the existing nursing staff that's there even in hospitals.
You find that many of them are are that the nurses.
Don't have enough time for all the patients so if you can use this technology to help bridge the gap even where you have people who are in the care.
A roll then you basically enhancing the situation you're not taking anything away.
Yet now and they -- certainly will be in need.
Candy quickly tell us what your company does did you actually make the robotics right.
That's right as they sent you my company is focused on developing.
The user interface that is the way people will interact with these robots.
The applications that will bring value.
To the to the users.
Such as perhaps to help them win remember to take their medication.
Transport things from room to room to them for them also to help them stay connected with their friends and family and caregivers.
So my company will focus on the software we're partnering up with other companies who -- coming into the space where focus on the hardware side.
Having been throughout the world and seeing what's happening in the robotics -- There's there's plenty of companies working right now on the hardware side the robot -- -- What's missing right now is how to make those robots interact in.
In in socially appropriate.
An interactive and easy to use way.
As well as what the robots will actually do that -- you'll find useful and valuable.
-- -- God willing you can make a robot that's.
Tall dark and foolishness to him.
Did you actually sound -- -- -- that's founder of the holiday.
Robotics I think it's really cool that people act sad thought it was really cool to -- I'm I think there's going to be a need for some than Sunday -- -- and on seniors and I love the notion of helping our autistic kids.
Critic of what we go all legal on the -- is that we're we're talking about taxes and -- harsh realities behind on high taxes are gonna go up.
Check it out as it's kind of good stuff the one thing I will say is.
Take your -- this year it's actually turned 2009.
And just what it under the raids.
Assuming -- everything goes away everything goes up so running under the worst case scenarios that -- you prepared that way in case.
Somebody's the Republicans -- thrown a -- along the way and something is extended.
You'll be happy all the money in your pocket presume worst case prepare yourself that way it's not a total shock coming April.
Dow is down 33 points we got to go we will see you tomorrow I have a great day.
Coming words it's a sunny day in New -- -- having today.
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