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-- every Tuesday welcome to foxbusiness.com live on Tracy -- comic scene here with us today.
-- -- Not enough good.
On whether mr.
-- I guess I can't come back and forth around here but it's all good -- better.
It's nothing scary everyone panics they think you're you know you're gonna -- and -- some water and it's gonna put -- -- The hospital for months -- -- has the Swine Flu.
Perhaps even if he did I tell you life -- -- and we should anyone but based on my concern experience and not such a big deal don't wish it upon him to come and knowing that -- he's right we had -- -- there are asked to no problem at all my son potentially has -- this one we told us we we kind of laughed that we stopped at a lighted.
No we did scoff at it anyway the market is down forty points today about where that's where -- -- a great show over the next hour.
So thanks for joining us everybody you talk a lot about housing is a lot of housing news selects -- this eBay thing going on which is over the in New York -- to see on earlier yes -- you're pretty cool place she's.
And against him in entrepreneurs they use it how to make money off fifth I'm hoping very intriguing and makes me feel Levy I'm not like -- in the -- -- don't use one end -- the eBay got put -- -- any.
Me neither I've learned from Lexus on that.
And I get to start off with what caught my -- today yes -- usually does later this year we do we mix it up and notice what yours is very instinct today well -- -- -- -- actually who is.
What caught -- I was that the outcome of the Wall Street Journal today and I don't take -- -- -- -- nobody ever want nobody ever wants to to tell you about caught my -- about the headline the journal today that one in four homes.
Is underwater so to speak after Adam does his report is why it's just it just a little thing about it but anyway 14 homes -- under.
Underwater I want to go battle I -- under because it's been known to clear -- room with.
Complex likely discuss this report yet say these kinds of things now -- -- -- little self deprecating humor there.
That report -- is talking about comes from it's first American core logic they're real data analytic company.
You hear this statistic one in four -- homes under water which in English means that.
What the people who have these homes go on those homes is more than the house is worth.
And there's a lot of stuff that you can break into whether we get into the numbers but before we even pull up the graphics and through all these numbers that you can make it look like I don't have talking about here which on this one I actually I think and I have a little bit of an understanding.
I spoke with their economist over -- -- logic and it's a guy by the name of mark -- and he said something -- -- at the end of today.
What we want to know is what does it mean to me file and -- home.
And what does it mean his mind that -- -- and keep dropping and what he said to me was that these numbers indicate.
House price appreciation.
-- you know when prices are gonna start going up -- house price appreciation will not to be robust.
For years to come -- now now healthy in -- healthy economy keep in mind that robust appreciation for -- it's really about 4% it's not that terrific.
It never was that terrific until the last eight years which -- a total anomaly.
Brought to you by the folks down on Wall Street so.
Let's get into the numbers in the map because let's scare people this is this is where it's -- There are five states no surprise here where people are more underwater than in other states and those states are -- we pull up the the map.
You have ten point seven -- million.
Homeowners underwater right now and oh that's the confusing map we had a new -- made which was a lot easier because that looks like when McConnell gets colored the map yes but here's the deal -- You look -- five states where it's source Nevada 65%.
Of all outstanding mortgages.
Underwater -- Arizona 48% of all attending mortgages homeowners underwater right Florida 45%.
California 35% those five states lead the pack.
And by just sheer number California and Florida alone roughly four point four million mortgages they represent 40%.
Of all the households right now which are under water why is this troubling take a lot full screen here between 20052008.
Most of these mortgages were originated.
The 2006 vintage that's what people in the mortgage or industry call it the 2006 vintage those mortgages originated in 200640%.
Of those mortgages.
Who are on properties which are now under water.
2009 vintage this is where you might want to lose some sleep.
-- are now underwater with five.
Percent headed that way which -- okay to the last 6009.
Means and means at all right now -- -- right up people it's still you -- announce you think you get the deal again I'm not.
I'm in 2000 and I -- -- -- much -- in January for a hundred grand it's under -- out of mortgage for a -- and some -- you on the way it's -- seven -- setting it -- that's.
If you put it didn't have much -- That's announcing the line on that house but I -- then -- Creative loans are back is well not necessarily on the that's what -- down in the journal story that's underwater -- run because it depends on -- This is this is where we we look because we work in an industry that tries to make it easy for us to understand so that we can relate to what's happening.
This is not one of those statistics where you can say it -- puts out 20% -- why it's different region to region.
In California -- -- that the drop in prices has not yet stabilized according to mr.
Right so if you're buying a house in California right now you might be unity depending on which part of California.
You've got to get ready for perhaps continued decline if you're buying in the inland empire in California.
You know that place is not Beverly Hills it's not shoot up in value.
So -- probably -- -- -- -- actually bring up now and then the data set the table beautifully although the map was -- kids understand -- -- -- if I wanna bring up what caught my -- about this right because that's what we started with.
So the headline to me is potentially.
Prone to exaggeration.
And to war prone to some sort of fear mongering although all the news and it is not good right but what about that what -- -- headline -- that I'll counter you aren't so one of war.
Are are under water nothing nothing wrong with that.
But the -- -- wrong with that -- nothing wrong with the headline enough stuff that's not misleading if you take at face value but if you take a step further and short to draw conclusions of it from it.
Of all how many foreclosures are going to be as a resolved yet if you're getting underwater and still have a job and -- pay make your payment and for many years so I think that some people take that -- all were in deep trouble and we might be some of these people but most of them I -- think majority of these people will continue making their monthly payments until the house is above.
-- Hanoi Jane you -- ignorant now is swimming again -- you know.
Had to do that please check your -- is seen such a member of the point counterpoint Jane you ignorant I guess I don't think -- get there.
I don't -- I don't want it is only -- on the wrong issue why McConnell strong right if you're under water right now and you're really underwater.
Why are you paying your mortgage had to devote your credit he should -- -- it.
I'm so many holes -- -- but -- and yeah really yeah.
I don't -- -- lets me allocate you have more early tomorrow.
Million strong but let me pose it to you in this way -- -- -- -- telling people to walk away from something that they signed the bottom line and they made a commitment to welcome you please go to have a discussion with Lloyd.
Blankfein can you please -- have a discussion with all of those people let me explain you why he did -- -- let me yeah.
-- I agree with you about responsibility but at the end of the day your primary responsibility is -- your -- -- Andy if you are under water in a property where you're not going to recover ever Brent.
You've got to -- sensual finances and determine what is in the best responsibility to your family.
Yes you have to be responsible -- -- beyond that -- but they've -- you have to look at the numbers and you have to crunch the numbers.
And if it's if it's the choice between do I send my kids to school to college.
-- I'm going to continue paying a mortgage on an investment that's never going to go positive again.
It's time to walk I don't -- -- taken.
All I don't know I'm Tracy watch your blood pressure out I'm sorry you -- your health.
I hear it.
DSL wrote in and said that we should stop buying homes to trade up the next day you buy a home so that you can -- -- son how to throw a baseball and ride a bike in the driveway.
You don't buy a home thinking I'm not I'm gonna make 20% -- that -- -- points is that a lot of these people that are under water are not to the point.
But it -- years that where there go to the bit to the extent that you're talking about where they are considering walking -- -- -- more than doubled and most people thought that that they will eventually get to see a big -- Tracy will be glad to know present -- -- -- -- good thank -- -- -- -- -- -- candy every -- and I think you'll be -- though the majority of people don't do.
Don't walk away with the majority of people don't walk away -- struggle to pay day.
But you have got to assess our country your total obligations and to -- at the end of the day.
It's your kids and your wife or your husband and your obligations to your family will not run the -- -- a -- had a.
-- added thank you about it but I'm sorry I got your let's play it out.
Yeah didn't look at chocolate now I don't drink during the summer I am OK we have to practicing and Diego definitely mortgage mortgage that wake up shower out there now.
-- -- -- let's go to and hear more isn't it burns advisory group.
Good morning not Tracy Byrnes and good morning I'm trying to figure out some would -- give you some advice on site Morgan.
I'm trying to figure out whether or not that's what we're from my house I don't know no.
Don't out of -- heavy -- right now.
Poll what do you think about that by the way but -- but the market's obviously what you think about this whole thing about how how underwater America.
Supposedly -- vs how much of problems can be done right.
Well I think though one point that was well -- natives is you know a lot of these folks are going to be able that continue to be employed and make the payments on the homes and I've got support I think one thing to consider too.
And if you think about somebody being a business owner or an entrepreneur or what's the cost of that having really bad credit score for Costa capital moved forward to you if you do.
The -- you know just drop your mortgage and who better house of factor that -- and taken account your family and contract law and then you know take.
From there when I agree that first point was well it's it's not native.
Articulate talk about the -- yard pat yourself on the back there.
They have the markets in the and we want to give up -- and tell us where you stand -- you cautiously optimistic that seems to be afraid that a lot of people are using these days.
This whole notion that we're seeing little bits and pieces of optimism.
What do you think about where we are right now.
Well look at where we're heading in the future it's we've just got to keep perspective where we've been so.
Where event is really it's been economic perfect storm.
And one of the things we're really looking at we're seeing a lot of our investors and people we -- that haven't drawn money out of the portfolios that had to take money out and taken come out.
And when when you manage portfolios intelligently.
Me you have places already set up in advance that you know you can pull from.
Whether it be maybe some more conservative cash -- fixed income and things like that so.
People been pulling money out of assets that have held up relatively well.
In our case.
Over this past year -- so now the question is.
What are you gonna do moving forward where you gonna go get the cash and the idea being you don't want to pull money.
From investments that have declined in value.
And so we're really looking at replenishing.
Some of those asset classes in the fixed income space.
That we use for income.
-- -- -- -- -- -- -- Look at certainly a good example I think a couple funds that held up -- on our portfolios.
I just lost mine my heart -- let me let me take a second -- -- words it was a merger fund and Pimco total return.
Those funds had a really well.
And from there what we're doing right now for example real estate.
And -- -- markets since the -- they've increased about a 100%.
And we wanna go ahead rebalance and go ahead replenish those asset classes.
-- those fixed income -- so.
That way they've got a chance moving forward if if things do get -- And I think of -- an audio problem here.
That's fine we'll have -- correct that -- audio issue on his and his Tracy and I can talk ourselves all day if we had to president Obama's that you're talking is speaking right now in Washington.
Good with the Indian prime minister prime mister Singh.
Playing it visit to Washington the big state dinner tonight the president making some the remarks about the relationships in the United States and India when you think about it more we do the business perspective that's one of the more important.
Relationship to him in a meeting with China just last week and now with India and the state -- treatment be given to the Indian prime minister a lot of people are making big -- -- agency to.
I think I think it's interesting actually we we saw recently in them most recent.
Big sale of gold was bought -- by India so we have India buying a lot of gold these days where's our dollar play into this.
As you said I think one of the more important.
Relationships that we should have right now.
Absolutely we could ask Morgan about that really you know with the gold the question -- -- Tracy brought up and that you're here.
-- back in for that Morgan but you know retirement the state dinner at the White House tonight with the Indian prime minister and India's role in the financial markets in the global economy.
What about this move.
In -- what he made it might have unbelievable.
That's really at stake Yemeni -- I don't know if you saw it in the news this morning there there.
They're -- retail clients out of the vaults they can put institutional.
Gold and the -- so.
That's that's something our chief recent research officer -- of pressure groups Tim Courtney a lot of good work recently and looking at gold and that the correlation.
Stock prices and and how what's worked what we found is that that the key drivers.
Gold performance has been.
Maybe there's been some inflationary pressure.
And also there's a negative correlation drinks.
That's -- people of -- hundred and gold so generally when the markets are doing bad -- has done well.
And -- looking at it right now with the increase in gold prices does it make sense to us that.
-- -- is driving up gold prices no we don't think so most of the indicators that there should tell us that inflation is this is pretty under control.
The other question is.
Is the stock market doing really -- obviously we've had a pretty bad run here.
But we had a good recovery.
So we really think there's a lot to do within investor behavior.
Right now in the run -- of gold prices and -- where else are you gonna put your money it can you put it in cash.
Or or or bill a lot of -- high quality fixed income basically you're not earning anything there.
And I think we're troubled waters coming up in the future.
As far as -- perception from some investors.
Gold is just the break.
It's a feel good investment.
We have looked at twenty rolling year period since 68 along the performance of gold what we've found is you know it's been about a 4% return.
Over the long run.
Gold is not gonna do well for you right.
And you know it's interesting actually -- a lot of people think that golden saving grace these days but at this you know has come comes back to as you -- earlier gotta diversify.
Move your asset allocation around now the time to do it.
Morgan Smith out and -- -- don't -- so much for getting up early with us burns.
We need to get a chance to talk about the GDP -- indication that attention -- news today revised lower -- point 8% annual growth from three and a half percent.
Little bit lower than consensus but not terribly so.
Not a surprise based on the way the import numbers came in recently yes it was it now it -- little ports.
Heyday in the market for a couple days with that 3.5 percent GDP we take advantage of it but clearly it wasn't the real McCoy all of them to be absolutely -- a lot more still to come including great story about one what what one restaurant company is doing to help out around Thanksgiving Thanksgiving week.
And next up Alexis Glick at the place -- that.
Well that's a positive dot com live I'm -- grant Connell McShane here for Chris cutter who is even under the weather the weather.
Now here's what -- and I dare I say don't forget to demo that fabulous app for your iPhone so you could watch just in and you say.
Some random town across country -- really liked him like Tuscaloosa.
Alabama's big effect -- you can watch what I believe is that town I have no idea the Somalia.
I got I have to look at Alabama once again let the map that you kids colored and.
At this point we're gonna go up the street to 57.
Alexis Glick is at you yeah.
Pop -- store.
Now let's is the coolest thing I saw you interview a little light men earlier before founder of -- stuff I'm inspired I don't to go sell.
Everything that I don't need oh my gosh.
-- treat pain in the coolest thing is meant that I mean you you -- I.
-- you -- now I -- written my blog and downloaded it already because I just think she's the coolest example.
Of what you can do on each day and ask Tracey I'm going to become a client of -- -- I -- buying things too but.
Lorena is standing with me she's the one who creates this whole thing lowering our intention is the president and eBay marketplaces she knows this place -- -- and downward.
And is responsible for those 25.
Million businesses that sell on eBay every single day good to -- and I could -- -- Tracy hired just go who got about the fact that Linda stuff is the coolest location ever but -- but everything here is really really fast and -- talk a little bit about.
These -- items that a hot sellers right.
Exactly so we have about 300000 queries -- million queries.
Every day on -- And what we've tried to do -- go to the 300 million queries.
And bring the hottest right products to this story that we're featuring the top 400 products across the web.
Today in the store and it's not just tearing your city tell -- -- you're traveling across the country right right we're picking each day on location we -- gauge people with a new each day the great values that are out there the bright wide selection that's out there and so -- be in eleven cities over the holiday period.
Okay let's talk police because Tracy has three kids.
Connell has three kids I've got three kids and this and this is the hottest thing and I was living -- face looking left and everything Alexis.
He think Susan's birth so now how we do have visas in fact tomorrow morning that about Friday morning the first thousand people in the door will get of -- views matter fact Narnia story.
But we have -- it's mr.
squiggles for example is the hottest zoo zoo.
Of the of the season.
-- is one of those places where we have such entrepreneurial sellers these sellers come together.
And we have over 171000.
Season had sent items available on eBay today and -- in retail their infraction.
I just need to repeat this because we're gonna have to -- this but the -- thought that did you -- for the first thousand people who come here.
I'm right I'm right I think we're running -- Black Friday black eye opener is that hand me that he is is -- -- -- per thousand people.
A cat it's going to be hot again.
Com L mile -- lows some of the big hot item -- exactly so all so readily available in stores but -- hands of the great product.
It is well price on eBay would -- the -- -- -- the -- but we're darling in this case.
Tracy and a lot of the toxic thing the whole time is accused -- my two oldest is not -- -- And Legos were addicted yet at the White House three boys let us all the time they show us online here.
We navigate it doesn't make sense if you're not -- normally -- -- -- suppose for example you have children but you don't know what to buy them and go.
EBay type in -- ways and coming to work -- store.
And what what was highlight with the holidays you can shop Rite Aid shop by price shot -- categories where he just wanna go to what's hot.
-- -- the most popular toys and you can see everything from Lagos that's their 30000 of those purchased already in fact -- sold over.
EZ pass all the way through -- kids that we -- 25000 weapons they can look at all the hot items by.
As well as age group you can go out and say OK in my -- -- five to seven years one of the top ten toys by age of five to seven years very easy very simple.
One things you're responsible for as well is if some of the real story is here and -- -- this is -- auction marketplace but.
-- model is very much a fixed price model explained that -- -- need us so I think most people today.
I'm short on time right but they want great values so that want to come -- they wanna look and they say -- I wanna buy immediately so about 60% of our business today is buy it now or fixed price.
And one of the reasons that we're here in the country and coming out really talking about come to think of -- day our brand marketing program.
The -- -- with consumers and have them think we'll wait maybe.
I really only think about it is an auction site may -- I really only for a shopping when a key categories and most people don't realize that we're 60% -- -- I have to tell Tracy and Connell -- -- listening to me before that the average American home.
Dollars a saleable goods.
That's right so we'll have an opportunity to sell it to sit sometimes feels a little intimidating.
So one of the things that we've tried to do was really simplify the selling process for those selling experts like Linda earlier in your program.
She would use -- more sophisticated selling well.
For people like you and I and I felt frequently on eBay I used just the simple form.
Very quick and get your -- up for example you're telling me some examples just before.
Absolutely but last week I just holding Michael Jackson CD that this is it CD it was running to catch a plane I saw the CBS thought that the Taiwan and download it quickly bought it.
Came back from Asia sold it on eBay for thirteen 99.
So great deal hopefully my -- shifted yesterday from California so my -- should be satisfied and and you sent me -- look I'd be happy if I sold -- for 99 cents but to basically got back what you -- for exactly it's not put it up for 99 -- auction.
And one of the things that we've done in these tough times -- recognize that.
-- people are looking for ways to make money because that you want to have a holiday season and so we've offered free five auction listings.
Per month every thirty days -- get through free five listings so come on in the -- -- there's no risk.
What are the things we've talked a lot about you is the rule of the small business owner in this recession whether or not DCs -- -- enough to help them if they have a proper voice.
You deal with 25 million small business owners and every single day.
How are you helping them would have been doing to survive in this house so these are partners we spend a lot of time both learning from them as well as.
Providing advice and the one thing that we see on a consistent basis.
Is it's all about great values and high quality high quality of customer service and our top rated sellers sunny day.
As rated by buyers are growing 13% -- grew 13% in the third quarter which is substantially better than e-commerce which slightly better than flat.
Pretty impressive Rory thank you so much so cool being here I -- -- you guys and I haven't left I'm learning so much and I'm think.
Old both of them -- from now on just the bottom happens next to cash in our pockets -- holiday season sounds good for everybody does that not.
Good to be the first bid on the when he himself likes us live last night you know what I can't tell -- -- with a -- day.
All well yet we're not just selling anything that's gonna get me on page six.
But -- Only does it still wasn't close and -- -- you know just start you know -- you know we do all this wardrobe and not how often do we keep it on and one I know my kids how to my pretty and all of the film and my biggest thing -- I.
This other bits good thinking that -- -- I don't see -- like that -- lot.
Thank you like some of.
-- thank you Alexis still certainly got my Christmas that's a great idea I was reading -- -- I think it's I was reading everybody's reaction it's fun because everybody.
I it to you guys that we don't -- -- we should we don't use the -- that much but I love apple like.
You know my you know.
But people Bob said it was great Mike has no Amazon more than -- thought was funny as his wife sunny day every morning before she goes to work that's not funny but would jaded -- is that -- broke probable pick.
Actually the majority of us still don't know is using pet is we have children.
Why not do that I don't either but apparently it's a very hot -- this year -- -- it's like I currently.
-- -- Racing I think for -- thinks it.
-- -- Lansing is next up here from -- restaurants where he's the only register Chicago's -- -- -- earlier is that this a great story about a restaurant company helping out a little bit round.
Thanksgiving it is Thanksgiving week what do you guys up that we talk a little bit of the restaurant industry -- well at least he but what -- you guys up to a Thanksgiving.
But Thanksgiving is one of the busiest days of the year for us our our.
Are exciting activity is in Chicago.
We've been preparing today and tomorrow out of -- 2000.
Homeless people at the Pacific garden mission.
And our senior leaders and our families are all there on Thanksgiving.
Serving these folks and it's.
The wonderful -- fourth and then we have lots of business and our stadiums and Arenas and restaurants throughout the country as well.
Gavin and I -- this 560 pounds of Turkey are needed 360.
Pounds of sweet potatoes I love -- it is actually the best is.
You know two pounds of Kosher salt.
That is women that I love that you forget the Kosher salt and help not forget I still.
Let's talk about Levy restaurants in general and what's going on and you guys are all over the place you have high end in Chicago -- mostly.
In stadiums Wrigley Field you know you gotta deal with Disney going on I love that diet restaurant that you have with Steven Steven Spielberg and Jeffrey Katzenberg.
What's the future like how is business been.
What's been a challenging year for us of course is as it has been for everyone in the restaurant industry but it's been a good year for us we've actually grown our business quite a bit adding some some pretty high profile marquee account from the United Center here in Chicago bulls and hawks play.
Palace in Auburn Hills in Detroit then.
The Washington Nationals and so -- that we've been growing quite a bit this year and that it -- -- a tough time which has been gratifying for us while we're trying to -- to the best we can given the economy is that because sports is holding up a little bit.
Rather than other areas.
And one of the things you guys do what's his interest -- -- you alluded to it is that you've -- kind of higher and choice for people in in stadiums than just the usual hot dog -- whatever.
That you're going to get how is that holding up and you know as as as people go out -- have a woman amount of money to spend I would think.
-- the stadiums are typically in Arenas are typically split between the general concession areas in the premium levels the sky -- in the stadium clubs -- and the concession levels are holding up fairly well the premium areas.
Are getting hit a bit as you can imagine from the corporations not spending as much -- they may be in the sky boxes and -- -- bordering crab cakes and tenderloin maybe there have been hot dogs and beer so.
They're still coming.
They're just not spending as much not surprisingly.
So let's talk more about that your big Thanksgiving dinner had -- star.
And how do you get people to come -- on Thanksgiving Day to help you make all the stuff I mean fifty pounds of sugar thirty pounds a -- other -- that the accident to get -- -- -- it's.
-- this is our twelfth year serving folks of the Pacific garden mission and I you know part of the culture of our company is is about family and it's about kindness and it's about giving back and it's very important to all of us.
And we decided twelve years ago to really take a big initiative and do this and it -- grown each year we serve more people.
This year in addition to the Pacific garden mission we're gonna be feeding a couple of Ronald McDonald house is in Chicago.
It's not hard to get our folks to come on our senior leaders have been preparing food for a couple days -- do it again tomorrow.
And we'll all be their starting at 6 in the morning on Thursday.
With my family and many of our kids and and -- will be gladly serving up really interestingly a world class meal for the folks at the mission.
None of this is made from -- it's all made from scratch.
It's as good meal -- you'll get anywhere in the world I was making stuffing this morning in I -- -- I was cutting the bread there was -- anything that wasn't fresh and and it's wonderful.
Ann and Andy when things like I did read is that you know you're known as the mr.
nice guy but this whole notion of caring and the environment that you keep in the company -- actually helped your retention rates as well -- your employees have stayed -- come out they help.
And they're doing some fabulous.
Thanksgiving morning so we appreciate you coming on to tell us about it.
And you're acting CEO of Levy restaurants.
Out of Chicago cook in -- a -- -- hot he's the -- -- -- and got everything 560 pounds of Turkey that equates to 16100.
Turkeys Kosher salt of course.
-- -- -- -- -- -- -- -- -- You don't Turkey my touch it my life -- like that the Italian she goes by like the possibly I resigned yet I know all about the lasagna and are coming up you -- your market movers coming up and I didn't really realize that -- that and our body -- calls -- -- -- -- -- stocks and who knows maybe get a -- right.
He's a Phillies -- that's what it.
A hard time we'll be right back for the Dow down 45.
Thought about tennis dot com lad don't forget to download the fabulous at -- iphones you can watch just in the I don't know what they call with the red on the Philadelphia -- killing my little thing here at little stick give me town Cotter.
It is in -- an Auburn New York that's good about a -- of -- tenants agree Miley you have jumped.
I could name all the towns in the new York and week.
It's just information I'm going to have.
Arts and having said the market is down 43 points right now.
Not terrible -- -- get the best economic news today but there's a bunch -- stocks on the move that I'm gonna tell you that missile plot -- -- Warner Music Group.
The reason -- -- my eyes back when I was an auditor.
That's right I was on the Time Warner cannot access to go out to Warner music and count CDs can you imagine one one -- with the eight tracks and -- was so painful but anyway they swung to a surprise I don't know why it's surprise but it was a surprise to some fiscal fourth quarter loss.
Revenue down music sales down higher costs in the whole industry's transitioning.
And I gotta tell you have a -- children.
But the music industry's been so -- about making the transition doesn't know what.
Tough -- today.
He -- -- from Barnes & Noble also down as well fiscal second quarter loss widened on charges related to that recent acquisition of -- upcoming -- college bookstore.
The slash earnings forecast going forward and they did say we'll cocky yes me that they might have to ramp up production.
And of the -- the -- well they supposedly you can't get it for Christmas downtime because they weren't so when companies do that -- -- is it me or had just.
But try to add stupid thing is they have so much demand but now they can't -- get for Christmas -- -- I'll have to buy one of those -- -- -- -- exactly.
Or what -- from downtime sound banks next analog devices this is actually up.
Even now fiscal fourth quarter profits were down 27% lower sales margins got crashed but they reported double digit increase in orders so that's something -- for the future semiconductors needed going forward with Matthew -- yeah exactly seat ticket.
Number -- -- love American Eagle out that it wouldn't talk about all the retailers American Eagle actually kind of taken over.
Abercrombie in the dust that -- get from that Saturday ads really.
Until you Kissinger and -- -- -- -- -- -- -- want to that's where tonight tomorrow and yeah.
-- fiscal third quarter earnings were up 39%.
A lot of it had to do with one time items sales declines easing now again.
Abercrombie in the best number one I love this Cracker Barrel Old Country Store had ever been.
-- -- -- -- -- But -- it is -- and it's here that there.
I've never been.
No certainly not now not not not really did you ever -- that season and you drive to Florida and yet you have to stop along the way and they show up somewhere that you and I -- the wrong.
Its argument that -- -- with a high.
Actually wouldn't know it and probably in everything on the menu it also it if they could probably -- -- one yeah.
Right -- you -- if you.
She's watching right now we -- but if anything -- at that point but since you were to.
Fourth quarter of first quarter profit up 40%.
Thanks to local us and for the first time the restaurant saw an increase.
-- saints are sales first time in eighteen months not clogging every impact -- Once it's thinking they're eating dinner every day -- mashed potatoes in the middle Kansas -- driving in Denver Colorado and Philadelphia and there's only place to eat.
It was induced huge bill I think is like seeing oasis -- -- a -- nothing all the sudden speak cracker -- that you.
And great that they didn't serve booze under the words finally is there and write your own within 10 o'clock to a -- -- -- like the single ingredient it's -- outfit that that nothing out there.
All right so what a day anyway we're gonna talk stocks fears that the idea we'll talk -- stuff -- -- -- -- the -- stock what.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- The wolves about how to make you money certainly but that morning -- to.
And and I thought I'd obviously be an authority on one hoops and I probably had the ability had hair -- would -- -- -- but -- -- put -- He came on the fact that at -- -- -- six store.
And Home Depot is the testosterone version which I have to say that I -- I can't agree with that Kelly it's never -- analyst with this next month that looks.
Time and I wouldn't be surprised she's a little more well critical wasn't.
-- -- -- -- some -- -- there's some of the a couple of because they were way off subject so the first one here vanity sonics.
Focusing on baby boomers -- what's your first one here.
Well it's the reason the reason I went this -- availability stocks that you get to but.
Any elite women spend 75 billion dollars per year on beauty supplies and products and going in their hair done nails -- that kind of stuff.
Like look at who's an Israeli leaders through these ethical of why people -- -- Josh.
So the first one is only thought somebody did like three weeks to get a hat on backwards in the biggest -- had that -- so that -- I think that's what we're gonna look at you know the area all -- those salon cosmetics and fragrance.
They -- they operate full service salons sell products out of there.
It would love to get their hair done -- and I actually did in my -- -- quite often throws pretty fast and it's.
You know I go to the little slot in my town and it's packed all the time and a lot of ladies and Italy to get to -- -- all the time.
And a severe spend money on recession or not they're going earnings per share next -- 22%.
On the stock's been on fire.
The next one is one that actually owned -- Nu Skin.
Oh wait for the ladies out there -- -- does bare essentials which is something Latin.
Probably in this areas in particular we know they would know more about this ultra I I don't see them in this area I see -- in Florida.
Ended ended in the deaths in the midwest is laid back has seen in in the city is much what you call this can be a little more on on the outskirts but -- are essentially hundred bare essentials and so for us so.
I'll put my female to sense and -- -- over 20000 beauty products and done.
They're selling quite a bit and Nu Skin Nu Skin is going to be the same sector their personal care products just this and nutritional supplements.
-- a product -- -- anti aging -- and you know when when you look toward baby boomers we all into Leo anti age at the same time wanna be handing to attend with every day.
What's become fifty you don't -- have the wrinkles that -- you know you're paying for the -- every day if you went on this is the stock that I own battle for about a year it's been -- my biggest winners actually this year believe or not.
Growing revenue about 20% bottom line about 20% as well through this downturn which is have a stocks are looking for here.
Next sort alligator AGN medical device specialty chemicals.
They do breast augmentation everything for too dry eyes.
It's -- -- consistent -- to slowly continues to get well.
It's all about Botox and Botox no mostly -- revenues -- all from Botox let's face it.
But that being said does dice for the new Botox scary and yet.
And that the of these that would never been a -- tax treatment and -- been open yes that's that's one bad chicken -- never done that both I think are -- it.
If -- this is exactly segment Dice-K mart -- is exactly noon yes I headed there to Botox but that things that you said Botox.
It's addictive from from the time that I noticed that women they get hooked -- the Botox into the big lips what you eat what they do you know goes down the field back up -- you volume.
You -- let -- and it looks so natural to let me tell you that can never tell -- -- we.
By you really are some stock -- OK so then the last the Avon lady -- also -- even -- -- -- -- -- -- -- I mean I don't think they -- the door to door anymore but they have beauty fashion home divisions.
Growing earnings 30%.
Bottom line 20% this is stock that is the stunned very very well in this type of environment.
I really didn't know that they qualities that existed however still somebody's buying -- Our product actually yeah have you behind him but believe it or not.
And again I just -- people -- big people have like.
Late clone -- big names they dared even like large and I think people love what I'm saying it's not just like you do you think it's.
-- -- -- -- -- Women with big key -- beehive hair buying -- it's not and there's a lot of people that have their clones and their products in the -- cattle.
I get to come it's really been no growth at times an office is the reason because that side door and you jump CEO and opera they've got a case that -- -- -- -- forests yet all seriousness.
We've -- we've picked your partner.
The the theme is a -- and you're trying to take advantage of what the theme it's -- excellent things in my book it's looking at the emergence of the baby boomer where they're going to be spending their money as they agent and one thing I believe is going to be in vanity.
-- the way that they look.
Most people -- have worked their entire life from the time they're seventeen years old all lived through 25767.
For another wanna spend the money on the south sure I think this is one area that we will see money spent over the next two decades.
Makes sense in that book is out or about to -- it is out it is out.
That map calls new book which the next great -- -- if you read the back -- about some -- -- -- financial journalist -- Padgett ten -- dare she there all have -- with a month but none of them endorsed Matt's book.
Let me shamelessly plug in himself it is the earth with a or does okay Matt good to see if that isn't like that couldn't pick a look at the -- you and one of the -- habits and think -- the details.
Coming up here just a moment we talk a lot about the biggest get a lot of attention this week and -- gas.
And even Jon -- had not out west in San Francisco that is do things with him on the holiday season we've talked about it with a lot more shall come.
As well foxbusiness.com.
-- has been eventful -- it about they have been absolutely the glass.
-- -- -- back on foxbusiness.com.
Live in a map -- -- -- scare me for a number of reasons but one of the most decent seat tomorrow morning had no idea what he's talking about his community show -- -- this morning.
When you think you gonna show up front I had no idea but now he -- as you -- -- calling the tobacco.
That's out of that way anyway so we got.
Almost twenty minutes left them a little of what we.
We do and we're actually going back out west so it's 940 -- -- and everybody up early this morning did -- Chief Executive Officer of -- wires got some really cool things going on.
With Wi-Fi and travelers this year he -- thanks again up and now once it was a little less -- lowdown on what's happening with -- lack.
Sure well first of all -- -- thanks so much for letting me join you -- your audience this morning we're very excited about some of the things that we're doing.
Partners with Wi-Fi networks around the country at over 30000 major venues like airports hotels and cafes.
And helps advertisers engage with that audience by providing their messages and also providing value.
So one of the really pioneering things we've done recently as you've seen and our release is work with Microsoft's bing search engine.
Who is sponsoring.
Complimentary Wi-Fi sessions in hotels and airports around the country.
Okay let me stop you there -- we're resilient did -- and sorry I didn't mean to jump on like -- -- explain it in the second but so people know what the company we're dealing with.
You're basically the guys that pop up with a -- -- hotel.
I got to log in plug in the Internet or it's all Wi-Fi and you -- -- -- and something pops up on the screen that you guys -- running -- to that site and.
It's and one -- -- it's it's not so yeah it's not so much a pop up as it is we're working with the large network providers were who.
-- do that and we're helping them bring messaging to their -- -- -- -- so we're we're really partnering with them to do that.
But with Microsoft bing is an example.
If -- in an airport or a hotel around the country this this holiday weekend in your traveling.
And you want to access your email or you want -- access some interest in content.
-- will give you a twenty minute session on a complimentary basis in exchange for you.
Using their search engine.
They're being search engine and getting a feel for how that works that -- -- and we clearly think it's a very innovative approach.
To giving you the opportunity to test their capability and we've seen really really -- response rates and volumes have gone up tremendously.
We also know from the American Automobile Association that -- more than forty million people will be on the road this weekend.
Traveling through these.
Venues like hotels and airports.
And based on what we've seen historically more than 20% of those travelers use Wi-Fi when they're in those areas and that trend has really been increasing.
Over the past year it's.
Brian unfortunately with airport delays and things like that get -- in an element more than one of the guys supposing you're hanging out in sit on the floor because there's no chance left.
Web by your.
-- wire connects me to being does it cost me anything.
No that's the beauty of it so.
Being is sponsoring this on a complimentary basis for you and so there's no out of pocket expense for you to -- minutes after it.
After you know so after you conduct one bing search so you are directed once you open your mobile device -- laptop.
Or if you go to your Smartphone and access a browser.
You're given the opportunity to conduct one search.
-- pick a favorite term or -- favorite subject.
Enter that in the being.
Bing search engines and they'll give you the results you can see how that works and as soon as you've done that you're now connected to the Internet for twenty minutes free.
OK last thing and then we're gonna.
I have to run here in a minute -- but that you know you guys are obviously partnered up with Microsoft must believe in in -- I would think otherwise you wouldn't do it.
I haven't I've still using Google on a personal basis and you think a couple times why why's it better -- -- -- -- thing.
Well we just think they've got some innovative features that they're providing.
Consumers that allow a little better targeting a little better feedback and and frankly some some different types of results.
That are more targeted.
And -- leave it at that.
So -- quit right.
What happens after twenty minutes how much does it cost me but it isn't just cut me off.
Well you you can then go back to the normal model that the network operators offer which is you can -- elects to sign on for a thirty day -- -- -- -- for our sometimes there's a two hour passed for different pricing levels.
Did according Chief Executive Officer of -- -- things are getting up early for us out San Fran.
Great thanks for having me.
Well great and good luck it sounds really cool actually and unfortunately.
Right study showed that the average wait time in an airport is -- in 70 is that right yes.
Is that right seventeen minutes while while I guess -- we use the Internet but this is another it to the other side of it from Microsoft's point of view which we didn't talk about -- -- -- trying to the word -- totally -- market shares on a belittled -- -- -- -- -- -- thereabouts but they're still trying to work out -- and you know trying to cut a little bit into what Google's doing.
I just recently got a new computer and being of course.
Pops up oh sure you know and believe it -- not I've been using him until around that it's not so terrible.
Not so bad being yeah a lot of people said that but it's just the the you're -- used to Google that your guess Iraq.
He's a third though because you Google something has become a verb right at them being -- bong hit there on about bond.
Anyway they've really -- we will have -- joins us that they expect that they offer the perfect portfolio.
Got -- -- put together the -- perfect portfolio Botox stocks earlier but Leland.
Joins us to tell actually tell us how we should put together our portfolio.
And and to invest over time tell us a little bit about.
What the keys are for people because it seems like a lot of the old adage -- we -- if you will.
I'm thinking about buy and hold this one of them but did there there are others are being thrown out the window -- -- -- they should be but it do you think that's true.
No that's exactly right.
I've been teaching investing for over twelve years and you know I've thought a lot of people how to invest thousands actually and -- -- become very.
Very disturbed that it seems like the old traditional investing methods -- there really are not working in today's.
And I'll just mention a few I don't think buy and hold works anymore.
I think the three asset class model bill portfolio doesn't work anymore and I'm actually quite concerned that even the methods by which we fundamentally.
Analyse stocks are.
Are no longer valid and so.
I think just in general a whole new approach to investing is needed to from the public investor standpoint and that's what I wrote the perfect portfolio to provide -- in the works in today's markets.
So really what's the new method than I mean if you're -- old school fundamental analysis doesn't work anymore.
How do we crash proof our portfolios.
Well there's there's several things one of the first things I recommend and this may be a little bit shocking -- -- tell my students to -- completely forget about investing in individual stocks individual bonds and traditional mutual funds.
I tell them the the investment of choice right now our exchange traded funds.
Which is of course a really a mutual fund -- of baskets of stocks or bonds but it trades like -- stock.
And there -- ETA ETFs is the that's what they're called -- TFs for just about any market index.
So what I think we're moving forward to in the futures investing in total markets as opposed to specific investments OK -- -- -- -- It earlier you yet the strategy alike buy and hold the supposedly out the door now.
However you could employ something like that just as easily with an ETF because it -- like stock you can hold it as long as you want mean.
What -- -- specific things about.
Or or the that this Pacific.
Strategies that you wanna employ to do things differently than in the past even if it's ETFs -- an individual stocks.
-- exactly right exactly right if you if you're in mutual funds he can't easily move in and out of them.
If you're -- ETFs you can.
You can treated any time right now another and another key point to my tech to -- to my methodology.
Is I think you only need eight ETFs in your portfolio.
I'll just mention them really quickly you need an ETF for international stocks US stocks bonds.
Gold energy agricultural commodities real state and emerging markets but that -- you don't need anymore now you configure your portfolio.
Simply by allocating different amounts of money to each of these eight ETF.
So basically you're talking sector plays as opposed to individual stocks it's not.
So it's not all that ground breaking right we're just saying don't relying on an individual stock to represented a sector you're -- go out by the entire sector.
Determine how much of that you want to hold and I guess at that point you determine how much you want to reevaluate as opposed to -- hold -- grandparents did.
Tell us exactly right -- sectors but commodities like gold energy that they're now sectors there in fact commodities.
And what you do -- you need is you can now concentrate on macro events in the economy to decide which of these sectors to allocate more to.
And I -- I also believe that you only by.
Those ETFs that are currently in an uptrend there's an element of using charts in this so you're not by something -- -- to go to drop.
You buy things that are an uptrend included a trailing stop and that's what crash -- your portfolio.
-- -- and we thank you for coming on the perfect portfolio is the book and thanks for sharing thoughts there on.
The new wave investing at least for you thanks a lot.
Thank you very much thank you know kind -- that's -- now we got to see what caught Tracy's -- that I become just a moment I was at that always fascinates me and what your eyes might catch.
-- -- -- -- -- -- -- It's clean today I promise I'll petition -- -- it back.
But my -- dot com live Tracie burns economist Shane.
Sticking around today you've been up since the practice like since land since yesterday -- and think wow that took part in the morning homelessness and -- good start on the day as we say.
-- seven -- step considering it's one.
There were times -- we want almost 1 o'clock and I can go -- good time and -- I can't even imagine.
Well well -- early actually probably knows a time date is out in Cincinnati she -- were really auctioneers.
Brittany joins us now it's very cool name actually joins us now penny EU are auctioning now on behalf of the FDIC.
This is crazy.
-- -- exciting actually.
What do you auctioning houses -- Actually my country.
-- -- FDIC as for what's considered at Bethany anything that's not real estate practice fixtures equipment.
So anything that was purchase with bank funds.
And has not acquired by any assuming bank and then get sold at auction so we're also a national inventory team.
We go and when the bank fails and we my.
Team makes a complete inventory of all assets -- anything that's not a -- then goes on the auction block.
I think its interest and did the process would be wanting worth explaining to people because the FTSE processor generals -- and how they.
They're just you know it's like a military team come and take over these banks and -- open up the next day and everything else so quickly.
What about your role in all of that -- when do you guys come in and how does that actually work.
What's actually impressed that I'm extremely happy to have this contract the FTSE is offend nominal federal an anti.
And they they do I mean they.
They have press people there.
Very considerate and understanding of the transition so -- -- transition piece of the team for settlements.
So we're right on their heels as soon as they come and we start our inventory.
And make sort of a behind from the scene.
Sort of transition we come and photographed tagging catalog everything.
In the banks inventory and that includes cars boats planes.
Everything inside of the bank from safe deposit boxes to.
I T equipment high and furnishings anything on the walls so we come -- softly and work late hours to get a complete inventory of all the -- So I find your options I had I get a piece of I guess if I want some and big safe.
Piece of the action pieces in the coming from a bank had a live find your options 'cause I don't he too you don't just do the FDAC.
A few weeks ago you just -- some TGI Friday's out boxing do auction and other things.
We -- businesses again.
Al wearily options dot com wearily auctioneers dot com and if you're specifically looking for FDA see you can -- -- FDIC dot gov.
And click on other assets.
I'm Ohio based business and now here locally and Cincinnati market.
-- really auctioneers dot com but we just wrapped up some options in California and we're doing them all over the United States.
What's the attendance like at these auctions of it is kind of like the new garage sales and you know considering how bad the economy's been.
They're predominantly online so it's very techie.
I hear them -- -- live.
So you reach a broader audience with people traveling all over following us all over to these especially the FDIC.
Auctions because there are some really into -- an exciting things to you to win at auction.
Penny rally at penny really auctioneers very called it depending thank you thank you -- -- -- -- You ship because it is an important person you should have a say if you absolutely mad and opening it and I didn't think child with it -- wouldn't bump up its.
But your child safe lock buttons that say yeah that's the authorities there say.
Can attribute that I had they look on my speaking of shopping you know in the government eBay and talk about all this stuff -- account attempts.
Which is a division of Robert half -- agency's accounting temp agencies -- -- -- app that said.
Less people will be Christmas shopping online this year.
As a matter of fact when surveyed Sydney 7% of the respondents said I'm not going to do my holiday shopping online network at work.
Out of work network that work to do somewhere -- -- to do the work and it's been this is an interesting phenomenon to me because one they're not doing it because they're worried about their jobs they don't want -- caught.
To their jobs are bigger they got a lot more stuff we know we're pushing you know I keep saying recycle let out of -- -- but yet.
There's less -- -- let his work force people have bigger job my responsibility to -- in no time to connect to holiday shop.
But -- will be interesting if you know it was one point where I'm going to do all my holiday shopping online at work as my servers quicker.
Fasten my kids on around -- -- know if we.
If we now the movement goes back home aren't -- Cyber Monday was -- all the way.
What they say they're -- -- because.
A lot of times -- -- What what happens -- these services people will say one thing to do and others have no hope.
Me I'm not gonna shop and work out so well and that's -- -- -- -- any actual results of the survey in January because the national people who -- shop will be the real question they might be telling -- certain nominee because they are created jobs economy's in trouble there.
I'm talking shop work in Africa and come Monday they're all stuff Cyber Monday shopping is your holiday shop online -- that's the only way early shop and I mean you know except for you.
And I I've known I really don't.
I mean -- does not an effort like a specific reason why don't need that really reason I don't easy day I just never gotten into its -- these other sites I -- -- -- -- -- -- shop on -- assume whoever -- I don't know how I have to I have to admit.
The -- the world I don't know how to use -- yeah I wouldn't even know I would I mean I would -- figured out your Smart.
-- -- They have take the time to do that.
While but so anyway that caught my eye that would have done I want you do you gotta wonder if that actually will play itself out will people.
Not do it -- because they're losing their job very seriously they don't want to lose them.
You know I didn't got it's fired because I have what -- -- on line.
But with this terrible way to go and adhere to that illustrious -- lost my job but exactly issues we have that's a submitted to fill in with.
-- on Tuesday morning because what have a terrific.
She was -- she's got lucky we had -- -- ago.
Cutter will hopefully be back tomorrow hopefully he's not feeling well one -- we get the market down.
54 points but it's not terrible could be -- -- find very late this holiday weekend -- out already that's right we'll have a great Thanksgiving because and I'm with you on product.
Buffalo are always gone in the morning but I'm with him in front of parliament street -- -- and -- my morning and that lending he's exhausted after being -- all.
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