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A lot of -- -- didn't look like an economic data and but we did get some news in the job market that just continues to talk about how typical is -- to grab a job these states and it always has an -- -- just with.
Overall spending consumer discretionary items but outside housing how talented -- and -- in the show to talk about housing.
If you have mortgage questions if you friends -- mortgage questions.
Anything having to do with housing we have a great housing expert that's gonna join it in about half an hour deal for -- -- he's gonna be it took all your questions about housing what you need to deal.
Both right now -- -- -- to prepare for at times to comes out.
That's right so get to dale and Richard -- of -- mortgage a lot of housing talk and our friend Brian Sullivan's coming on -- -- Bryant's talk Mathis -- like Colin.
And just a few minutes so that should be a lot of fun but we start with doctor Robert -- is always on the top stories of the day but speaking of TARP -- yes now we know who gets to pay -- the money.
Right the anagram that trap right.
-- yes side is gonna -- part TARP if you will.
Well noted that ten.
Most of the names we're not a huge surprise Morgan Stanley for so negate.
May have caught some people off guard but more or less of a lot of analysts were expecting them of course JPMorgan we've known Goldman Sachs we were pretty sure they'd be on the list is -- -- Goldman was the last -- of the tend to make the announcement they were gonna.
You know to pay back their ten billion dollars to the government all told these 68 billion dollars.
-- expected just to get 25 billion back this year from the program so sort of ahead of schedule on that.
If you're seeing -- note in here course yet American Express BB NT regional bank.
In their Bank of New York Mellon celebrating their 225.
Very the oldest bank in the US by the way and there are going to be paying back their three billion dollars -- they've raised two point nine billion of -- already so they're.
Getting the funds together to to exit the TARP Capital One -- of the credit card company you know.
And that to JPMorgan Chase Jamie Dimon the chief executive -- very outspoken about paying it back it's it's paying back part now is the right thing for the company to do.
-- at Northern Trust in there State Street.
US Bancorp and Goldman Sachs so but again not a huge surprise you did see some buying coming and mutual fund buying according to traders us but -- buying up some of the it's sort of like a basket a group of them and that's sort of goes hand in hand with what we talked about over the past few months of the rallies that.
-- a lot of mutual funds were underweight financials because everyone sold them off last fall as they were tumbling and then as they began to rally -- -- they were buying them.
And some of the shares they got were also from.
This record amount of issuance -- come -- -- companies banks selling more stock into the market and they it's one of the Bank of New York -- talking about raising.
-- that so we see now with American Express out in the past week or so.
Selling a lot of extra stock into the market that's who some of the buyers where the mutual funds who didn't own enough.
And then of course says that rallies you look at your mutual -- statement if your manager and -- your -- doesn't know enough for the stocks are doing well.
You're gonna dump that -- of these managers know that that's -- -- to gotten.
Chase those stocks ever higher and then of course the guys who are shorting them -- keep buying -- -- That brings to where we are right now where we're sort of in a holding pattern now we know -- some of the stronger banks are but the question is you have the exit TARP funding and remain.
Healthy enough and that's I guess you know some of investors' concern right now.
And we should update the markets as well it's three past the hour or so -- new York and 31 points lower on the -- here after the noon hour and were up though.
On the NASDAQ we talk more about the -- here in just a moment but it is -- To talk about technology a little bit list has been out in the valley with -- three days about coverage my fantastic my dad did a great the history museum and seeing some of the earliest died out -- were commodore sixty fours and -- have you know -- that in the last narrative.
And you know the idea she'll be talking I think tomorrow the John chambers of Cisco and -- talk a -- -- of Eric Schmidt of Google and Twitter co-founder Jack Dorsey said I'm gonna be on with her in the 3 PM.
Our Fox Business fully understand so a lot going on out there.
But technology stocks really have outperformed and have they really last night TI take the -- -- a huge -- tonight.
After the closing bell -- mid quarter update you know came out of a lot of Chrysler and you sort of overshadow it on that a bigger picture but.
TI really saying things are pretty good for the communications chips business back second quarter raising their forecast for about revenue.
And profit -- we haven't seen a lot of revenue.
People expecting revenue to be better -- meeting sales.
Op profit to be getting better a lot of that's -- cost cutting -- by cutting jobs and and cutting other spending on capital spending so.
It is an impressive to see a company come out saying they're gonna make more sales and profits -- that's what's got TI jumping a lot of the others.
-- equipment makers also the some -- the -- user's cellphone makers in the like these TI chips they're also moving higher today so we've seen yet you -- going across rivals like Qualcomm.
Shares have been higher -- apple we've been following them within the release yesterday and it's something that sort of got lost in the shuffle here in and -- bring this up as I covered the launch last year of the -- the new iPhone.
If you talk about it further you -- -- it but it's the pricing tearing us the new prices are -- up -- 99 bucks.
When -- nine and two -- I -- but if you're an existing AT&T.
Or I quote unquote non qualified customer is an extra 400 dollar surcharge in the fine print there yet another word I got your pocket and -- -- -- -- what I am I am actually existed but my or those people but I'm having an existing iPhone if you log on right now to tell you that.
That you can now upgrade.
But it's gonna cost you and it's gonna cost you probably -- -- it depends how long you've had it may be to be less but that's what happened in the last years that -- was existing AT&T customers looking at the -- -- But I wasn't qualified is -- -- me only an extra 200 at that time -- this year 400 dollars is quite a premium for people upgrade from existing but you wonder.
If that makes people in this their contracts up startled shoppers look at a pre to move to.
Yes of -- that's an equivalent or semi equivalent to the -- found.
With a different carrier than AT&T if they really get miffed by that.
So -- -- -- -- an interesting point on airport here in some of our folks are -- to that is well he's is that understand how technology stocks can outperform.
At all since there is nothing really innovative.
Coming out of them.
I -- apple is where we're seeing some innovation.
It almost like the make over of an existing product though it's not like it's a brand new -- iPhone and upgrade.
An upgrade and basin and like the video camera that was one of the huge right criticisms last year biggest tech stocks continued to -- to share that story that we.
I still find a little bit perplexing I'm kind of with -- on that about why we see but I really think about cash rich I guess.
Well you can sort of think about it day in certain areas you know it you walk around here maybe and see a lot of people.
Having blackberries like that their companies are good enough to -- a very concentrated metropolitan area that you think about it.
Al enrolled north.
Eight -- prices continue to fall through that again -- as far as -- -- yes yeah we could talk about the Marlene we mentioned earlier than 99 dollar emergency basis the existing one.
Unless of course your impeachment and a two dollar ride which really compete for the 200 dollar -- which -- -- -- -- -- today because he does and I'm -- for example what it's like buying a car right decision drove the lot there's a new model coming.
And -- we have regular average price make you feel better than the less we have too many think tank gets some from Washington on another way to get an Iranian language.
I got it sold about six times to wrap your report that -- -- he's more difficult to wrap them.
To not -- -- this -- all right eight after the hour Mark Chandler at brown Brothers terror list ahead of drug global currency strategy joins us now.
To talk a little bit about these markets and about obviously currencies in particular but mark what you weigh in on the big news of the day which is really coming out.
Again -- DC.
What do you make what's happening in banking in terms of how that affects your overall outlook on the financial markets now these banks are gonna pay back TARP money.
Yes and if I think we've paying back the TARP money I think that's the issue still -- what it.
With the -- and do it that's -- money would you -- cycle it the next bailout.
I think generally the market has had its had his view it knew that this is coming -- it's not surprised that I only see much of -- reaction at this -- exchange market.
Fifth with excitement the foreign exchange market.
Let's talk a little bit about the dollar there because of the venues that we got about the banks repaying some of the money.
Which of course an interest what does that mean for the US dollar anything that's -- and what kind of effect you think that inhabit the currency markets.
And I think it's gonna have much effect that US -- -- to pay back got the government some of the money and it still is an issue of the preferred stock in the -- still out there.
And of course it's not these just the United States that recapitalize the banks and situation.
There's talk today that the UK some UK banks may also try to repay.
They're government so I think this is part of the healing process and you're seeing globally but especially received evident in the financial markets.
I think that the dollars and -- this today has nothing to do with the banks paying back its -- money.
I think a dollar having -- today in a function of the market this have cooler heads prevailing.
And realizing that as of Friday the markets -- pricing in a fed rate hike in the fourth quarter of this year acting as the cooler heads have prevailed.
It's seen as a highly unlikely.
Right and that's being priced in the currency markets as we speak so let's talk about your outlook for.
For economies around the world because that obviously plays into their currencies and how you're gonna play them you mention the UK.
The politics there -- nothing else like a soap -- it's been fascinating to watch what may or may not happen with Gordon Brown but that obviously plays -- how people view sterling and or the Euro.
How did I don't know about that -- if you -- there.
Yeah I don't know about that -- you know I say that because the British pound fell from about eight and a half cents.
In -- four days through yesterday -- and since then it has rebounded recouping over half of that loss and so I think that politics is an easy excuse but I'm not sure that.
I think there's what we're seeing in the US as well I know -- many people near network I can do think that Obama represents some kind of major break with the Bush Administration.
I think many people in the country see Obama answer governing from the center and a lot of continuity in policy I think -- thinking in the UK.
Where we're brown is now the prime minister in -- clear that the conservatives and the Tory party the UK.
We'll be doing something radically different it's I think that politics -- makes tonight's headlines and makes tonight's.
Cocktail conversations at the end of the day if -- didn't seem to be the driver of the foreign exchange market.
OK then what is it will be just outlooks for economies in general -- of 140 or so the bureau.
And you didn't we go from there to where in the in the next six months -- -- figure.
Well I think that initially initially in the very short term we're gonna get a weaker dollar I think that the sentiment is very much decidedly against the dollar.
I think that the market is in -- mode to sell dollar optics.
And to take advantage of those it might if they gain -- -- should -- short the US dollar.
But I think some time.
In the upcoming months they were gonna see what will we just saw with the jobs data.
On Friday in that yesterday's price action with a market thinks that -- -- green shoots.
If that'll be responding quite quickly and tightening monetary policy up for at least begin to normalize that.
And that is ultimately good for the dollar started the camp that says the aggressiveness of US monetary policy -- of fiscal policy.
The aggressiveness by which US corporates have cut inventories right slashed employment staff and they cut output I think -- -- the ground up.
For aid dollar recovery US economic recovery later this year and I didn't reiterate -- when they get a raise rates do you think.
I've got penciled in for the up towards the middle of next year on the -- it's not a with a lot of confidence I think that it's I think the Federal Reserve want to wait until.
It's clearer signs -- -- -- just getting it turn up.
Second derivatives that if the pace of change.
Pace of contraction -- we didn't see some -- numbers we haven't seen them yet I think we will begin seeing them and Q3.
But we continue to watch the treasury market's not so the murmurs coming out of the party specifically China about investments -- and treasuries is taking a look at a report.
I just a few minutes ago there was talking back credit default swaps for.
I think major corporations like mcdonalds Microsoft eighteen -- actually being.
Less expensive then -- investing in treasury in the treasury markets.
Not showing -- there is more risk according to the market in investing in US treasuries rather than investing in our company that makes a hamburger so.
How do you explain that.
I had a good point I think -- occasion we do get these anomalies.
I don't think anybody seriously believes that the the risk of default to the US treasury is somehow greeted in default of of -- single US corporation I think this has it reflects more of the pricing mechanism.
And the liquidity of these instruments rather than some kind of general risk assessment about treasury investment I think -- treasury investment you know.
You know since the controller that a former comptroller of the currency -- after he article Financial Times article a few weeks ago.
Warning of a possible downgrade in the United States.
Credit worthiness here that's happened Japan's foreign currency debt was downgraded.
The UK was put on credit watch for possible downgrade.
And just yesterday Moody's I believe -- S&P rather.
Cut Ireland one of the one of the eurozone countries credit ratings I think -- US credit rating from everything I can see.
It's still a triple A rating regardless of what the credit default swaps might say I dated a basic.
Writes a best of the bunch is basically your argument there one of our viewers asking if you figure that the US dollar will be occurrence is falling relative to the other major currencies what's your head you guess that.
Is it it gold receiving tips is treasury inflation protected securities what what -- what are you looking at to hedge against the potential of the lower US dollar.
You know I think that the good question I think that is what it is the way I think that currency market differentiate themselves from other asset markets.
If you sell a bond you can buy stocks he can talk talk -- asset allocation.
And cost assets hedging.
But I think their currencies when -- -- a dollar you've got to buy another currency.
So I don't really I mean I really think it's a question of where you think -- the dollar's gonna sell off.
What do you think the dollar gonna sell off because -- its credit worthiness of the US for example.
Then why should be people buying emerging market currencies which -- seems to be did you one of the driving forces right now.
So I would think that if you are if -- negative dollar emerging market currencies typically are doing better today than the major European currencies and clearly -- -- the Japanese yen.
-- -- look at something like that I particularly like the Australian dollar against the Swiss franc.
Partly because it is a I didn't -- show a strong correlation with equity markets you get the benefit of Australia with commodities high -- and its proximity to China.
While Switzerland has a large current account surplus that's Central Bank is not only talking down its own currency the intervening to weaken its currency.
So if you're saying not don't stay out completely out of -- there's a lot of complaints it encouraged in the currency market but over -- the big message coming from you is.
Do you see our I should say what is the big message regarding currencies.
It is still at the dollar remains the reserve currency -- the world for the next several decades do you ever see that being replaced somehow despite your confidence at this time.
They've actually might -- big picture view will be something like this that the demise of the dollar continued to be grossly exaggerated.
Now is a dollar the world's premier reserve currency and will be for the foreseeable future but it's also the major invoicing currency.
You know that about half of France's exports for example are not invoice in the Euro invoice in the US dollar.
And so I think that -- -- dollar.
An international new rear we call it and major benchmark remains intact.
It doesn't mean it dollar can't -- can't fall further it just means in the big picture the sense that the Central Bank activity is not going to be the -- for the dollar.
I think we'll return of macroeconomic fundamentals not the leveraging deleveraging story macroeconomic fundamentals -- the fight host -- story first in first out.
I write my great to have you really appreciate what I -- -- -- about currency.
Dollar ready to get into gold but mark we have to have you back in CC and we thank you.
Thank you market stuff now we have a lot more still to come here five this is dot com live including -- solve that his way to call for the student taking companies see this new ones coming up next.
I put myself over the coming on here to talk about the -- a little bit.
Is big guy that's Sullivan and and generally it has in your contract she can appear on camera with -- so she's leaving to do Fox News Channel it.
Thank you covenant that an -- -- track for the value one's contract -- that's the question.
Gonna get better I thought I did notice they have I get out of the chair.
I'm just about as tall as I was on -- -- of this -- on your knees to get Japanese -- sent advocates.
Not able to say what it's like.
Bob -- so anyway good to see you thanks thanks -- thank you this studios that gets a little bit -- -- you have -- -- you can tell I have I really don't know all of our producers said that you wanted to talk about some you know your blog today.
Uses what I'm calling your TARP math.
You've come here to tell us exactly what we can all get out of -- -- To help all out of this -- -- right well I.
Here here's my point and you know the news came out today that these banks ten banks are paying back sixty million dollars yes -- -- and then you add in -- half billion of the government says it's gotten through a preferred dividends they got a 72 and a half billion dollars that is being or going to be.
Repaid -- by these companies to the treasury moved.
Now I know directly the US taxpayer -- that lent the money so like we all -- eat up and then you know bailed out the -- but it comes through.
Excess borrowing something agenda just talked about with regards to currency side of it so really it -- -- -- taxpayer -- we always say that right so.
I guess my point was if you've got 72 and a half billion dollars coming back to the treasury and there were -- 139.
Tax returns filed in 2007 -- -- have 2008 data yet.
That comes out to 541.
Dollars for every tax -- so my simple question in my blog how to brought up on my show which is cropped up was.
How my got to spend my money -- -- just a bit too wonderful to get that 121 dollar check sent from the government you're -- drink and stupidly I filed a mile wide.
Well that's a lot of points stupidly I filed.
You know jointly married we -- filed separately and then I could have gotten two -- yeah that would have been a good idea now but I know obviously we're not go on being facetious -- but.
You know as I wrote in my blog and the odds of -- seeing a 521 dollars back is about the same month the Washington Nationals winning the World Series this year -- look at all they're gonna get -- number one pick in the draft today by the way that's a good reference to even get nine number one picks -- -- who does play -- entirety we can get off topic to talk about that the next it's got Stephen Strasburg I guess the -- didn't -- any of those state only got about an hour plus fifteen million wanna -- -- ten.
You know I'm you know journalists -- -- that the national.
The national deserve a bailout.
Mean OK she gets apartment so maybe he's the savior well Lastings Milledge as a boss let Palin unless we're watching you get you get my point right which is that don't -- what I wrote was that.
We're getting paid back you know in DC folks gonna be spun as.
Tax you know taxpayers didn't -- back it's good news -- you know taxpayers get paid back pay yeah pay me back.
Course got to go back to fund all this treasury debt that we talk about which is reduced the value of US dollar increase deficits this kind of initially questioned now and what is can that this money is going to be used for in other words they're getting -- back now they just don't look back out to other companies that are asking for and if so who are those companies is that.
Having to get the car companies already so what's next -- here and say it's funny you say that I'm actually writing a -- working on a blog right now now it's can get wrapped up hopefully later on today it's not a big blog but check it out on fox this camp which is.
And that's something I know you guys get instant feedback -- like to hear what your audience thinks about this next issue okay so AIG and I was just thinking about this with the auto makers today we reported a couple days ago right that the auto makers have gotten about eighty billion dollars.
-- the number I saw through -- early on yes I was in Egypt so that's what I read yes all right so that's American not you know.
Egyptian pounds and eighty billion dollars received by the auto makers now AIG -- gotten about a 185 billion.
AIG is arguably one of the most vilified companies -- -- parents and I think that's very fair to say.
And we had these bus tours of AIG executives homes and we had marches on Wall Street down the Yankees headquarters and -- didn't didn't.
Basically you know run through the -- My question is this AIG is number one and number two in every market incident and you have real policy -- -- insurance property casualty they've got a real business they're gonna online and sell back it's -- it's likely they could pay back more.
To the US government.
Then GM because GM.
Scott Rasmussen we -- on our show he said according to his survey.
About half of people out of -- Jim Carson would never -- say they would never buy one again OK so my point is AIG is a real business we'll -- -- -- back.
Three force the money that their own Brett that the taxpayers -- GM does because they're just sales go down they got a lot of problems etc.
We'll GM get the same treatment as AIG if they become the biggest tax Payer getter if they replace -- IG -- -- Citigroup.
Right and I have speculate that you must scores of executives -- relatives in Birmingham hills Michigan.
OK let's see what people think maybe we have some viewers in Michigan and and I got slaughtered -- you know listen I got nothing it's GM its workers and take AIG was treated so harshly because the money it took.
-- -- and it paying most of that back because they do have a lot of real businesses.
And GM continues Solutia share and lose money on what it sells and becomes the biggest.
Corporate debtor to the taxpayer what's going to be the -- -- reaction in General Motors entrusting our viewers are gonna land immediately on that.
Stink right now.
Yeah right -- -- while we want to prevent.
Assert its interest -- GM.
Lou Whitaker now Ed Whitacre was appointed as the chairman of the board at -- -- -- many baseball references as possible.
At General Motors I have to turn on your show today on the network and you were saying that.
Well this -- -- used to run phone company now as chairman of the board of an auto company did seem like made a lot of sense countless I don't know what this guy knows and you know I you know we -- work together -- previous job we do this long time Ed Whitacre ran.
AT&T from 1990 to 2007 he's a career Telecom -- On you sort of famous for not having a computer on his desk or using email and probably not watching that today yeah.
The only he's on the Internet now I mean the debt that's you -- Whitaker you know with -- Telecom guys okay.
A former a lifelong Telecom guy is going to be able to -- -- become a solid chairman of a very troubled auto maker.
I don't know I mean you need is more phone's gonna come and cars may be wheel drive cars look likes flip phones perhaps I don't know I -- We were just yesterday talking about how -- the board of directors at these big banks are not bankers did the CEOs of other companies chemical company's paper companies.
That maybe the boards of these banks need more bankers right maybe the board of GM -- Need to car guy I'm sure Ed Whitacre has driven a lot of nice cars and his -- -- very rich guy.
But you wonder what the thinking is now Fritz Henderson warming as CEO but.
The day to day they will be run by car executives and pretend let's hope I mean who knows what -- long term future is the government owns the company -- -- it was their decision.
You know I'm just questioning.
-- former and lifelong Telecom CEO as the guy to run a car company when cars as we know are extremely.
There's something had to be dialed in the consumer -- right when you're like a Bob Lutz Bob Lutz knows cars right I mean.
He GM may have had its problems that looks fair pretty much resurrected Cadillac he knows what consumers want.
You know is Ed -- -- to prove.
Car so we gonna have another Pontiac Aztec -- -- Looks like a lot of the viewers think GM deserves all this is that this is say this is an -- because I played it.
These same treatment quote unquote as AIG Matt Raleigh, North Carolina GM should absolutely be treated.
Like AIG Tommy -- or not -- personal stuff I mean that's dropping and AIG -- thing it was disgusting.
Was only you know -- towards the homes and and this death threats these people were getting I'm talking about you know sort of the institutional backlash.
AIG was just slaughter.
For months -- including by people like Ben Bernanke used to -- -- that's the thing to me in the most angry.
Was the AIG bailout and you're saying that the the car companies look at reaction you know -- marches on Wall Street going NE IG headquarters.
You know burning effigies nearly.
I'm just wondering if AIG pays must have back like that banks -- -- he does a lot of very real and valuable insurance policies mean they're huge.
And if GM.
Ends up after this is all said and -- as being the biggest.
Corporate debtor to the united -- taxpayer.
What will be the reaction upon according to Scott Rasmussen of Rasmussen Reports yet.
People he surveyed 43% of GM owners -- say they will never buy a GM car or truck again.
If that happens GM is finished.
It's true they're already hurting you can't lose 40% of your business and go on and pay back the taxpayer.
Listen we -- -- -- -- final baseball reference you wonder what Dennis Rasmussen would think that.
Thanks for coming up -- comments no comments have just been so bad they said there's tons of comments coming in I don't even have time to read them all but.
Well some people talking about AIG shouldn't have somebody said AIG shouldn't have even received.
The AIG treatments have possibly and that's not what I'm debating I'm just wondering about the reaction.
Parents -- go you go back to desk.
And go on our site and you can see some of the comments that come -- we put your blog ups or read -- blog items into foxbusiness.com.
Ask Ed -- -- Lou Whitaker.
This dinner and come back anytime you GCC -- -- specific if it.
Brian Sullivan read his blog at foxbusiness.com plea for more on this and we will continue to yeah hey listen it's tennis that a little while ago we're gonna talk a lot about how that we haven't spent.
As much time quite frankly probably as we showed on housing last few.
Days or weeks or we're gonna spend a lot of time on it today.
Mortgages what the future holds bailouts and everything else so that is coming up as we continue here on -- foxbusiness.com.
All right the housing market now is the topic on fox this is dot com live as I said a moment ago we want to.
But dedicate some time here both to mortgages.
And to the whole bailout that's happening in Washington in terms of the help that is being attempted to be given to homeowners and whether or not that's the right direction to go -- in a moment -- vermilion will join us.
Well author of the book navigating the mortgage -- -- about on here to talk about your own mortgage questions but we begin with -- Kessler.
The director sales and ran mortgage is with us here in studio.
In New York in general be right back from Fox News Channel in just a moment to join in on the conversation to -- drew thanks for coming back we appreciate -- so.
Now we're we're kind of into this process of the government issuing the the help quote -- quote -- the Hud housing and urban development has come out with.
Its latest venture.
Into this do you think we're headed in the right direction or are the right people getting helped well -- you were worsening situation.
And our hunt is trying to step and they're trying to help by immediately govern our tax credit that's going to be do people.
Let's say next year when -- they put in the tax returns are trying to get it to them now they're trying to get -- after closing table on top of their current on payments may be adding to its closing cost assistance.
The question is is it too little too late as we see right now.
For somebody intended to qualify for FHA mortgage which this credit only applies for -- FHA mortgage be used that at a closing.
They still need to have three and a half percent into the games we need something that they're going to be able put down the question is do these first time home buyers today have that money.
And that's really where where we're seeing you figured you think -- most of don't.
Well again if we're looking to get people off the -- the question is do they have this morning to begin with.
The original thought was -- seatbelt laws -- going to be able to use the use towards the three and a half percent which again would have enabled a lot of people really had nothing in the bank to jump in which person I don't think that's the right move but again it was spurred on.
A whole new class of of first time homebuyers -- to -- it.
Now you're looking a situation where somebody would have had that money they're now going to be -- again that closing to help them in the the closing cost the down payment.
My concern is if you go you know -- fast forward.
They were gonna be getting any doubt -- our tax credit as some -- relief just to have you know revamp their savings now they're not they're gonna use it you know it's Tom in upstate New York one of our viewers just wrote in that to Hud is trying to create the new.
Sub prime market and you could see his point here is that a lot of this is the recent one of the reasons we got into this whole mess a lot of people would tell you is because.
We -- -- too many first time homeowners to buy -- house that could afford right -- the biggest difference between now and then is now -- verified now on a situation where everything has been document we have -- -- -- we have to verify assets this is not a situation where you to sign your name.
And get a brand new house so it's a little bit different than what was before what's similar is we're doing high financing as we did in the past but now you need to at least be qualified to get this -- -- Is there pressure -- from the government to get some of these mortgages through that call -- all the pressure right now is housing and we're trying to pick up housing we're trying to get him -- off the boards and this is a way to hopefully help that.
Half of all homeowners this year we're gonna buy a house and we first time homebuyers seriously a whole new second -- that -- previous years -- previous years here you definitely weren't seeing that you're you're talking work.
Have to make up his first time homebuyers because you have.
The other half are people that are and now basically what they did make a move flipping -- you have in years past there were tons of people making the flips defense such equity gains.
Over the years past now -- in a situation where anyone who bought the past five years can't make that flip is -- to be equity return to have passed.
Its interest and the great story has been agency hasn't to watch all right let's give it some weeks -- -- started edged up again and now what's your thought on it then doesn't continue all we were fortunate enough to see you know some five interest rates for further period of time and such a big -- we're now talking that -- Now historically that's unbelievable money that's cheap money that you should be able to hopefully right out for a long time but it's more of a mental thing.
Yeah right now if you could have had three weeks before ten -- And you -- now you have five and a half percent of the questions that you miss the boat.
And I was you know going on different shows and saying now the perfect storm now's the time to buy because I have great rates.
You know great inventory at low prices.
To me it's still a perfect time by angels -- a situation where you get -- -- get money of five and a half percent compare that to you know you go to the early eighties where it was in the teens.
-- it's phenomenal money.
That part of that perfect storm is a lack of confidence lack of knowing I got out of the economy with it happily jobs and we continue to hear.
More information command about the job market even if it looks better than -- in previous months it doesn't look like there's marked improvement so.
We did this have to play out somewhere even at the stock market -- to do one thing do you actually see the housing market improving why do you know it.
If you look at the fundamentals of what's behind housing if the American dream.
Everybody wants homeownership and everyone realizes if you're look at statistics going back forty years the safest play and if you're gonna stay in and -- it is housing.
Anything you know you invest if you look at even as recent as 2000 before the pre bubble.
Anyone who bought for the most part are still looking at point 1% increases from the values of 2000 compared to -- look at stocks the same time.
You can be down 3040%.
So you're an investor money somewhere housing as -- -- to debate.
Real quick just about mortgage regulation to get some comments coming out on the board from from -- Chicago he's talking about lack of enforcing regulation.
Is that the enforcement of regulation in the mortgage industry right now right now it's more than ever I mean if you're gonna what is it like how it's government -- everything from the appraisal regulations to the actual documentation.
Whose looking over your shoulder to make sure that someone getting a good mortgage.
Well that the government is putting you know they they pass laws that now enact where we have to again document and disclose and that paint.
What is now my -- it's a lot more when you know it's the right thing it's a situation where unfortunately had such turmoil over for a period of time that got us into trouble we're in right now.
You know what -- there's no reason why we can't be govern like anything else and we should be able to provide.
Positive results -- consumers.
You know -- you're talking and thinking back on an interview that I did a couple weeks -- on on Fox Business Network with Bob Shiller of Yale and he was saying and I came away after its thinking.
-- still pretty bad if he's right he's been right up until now -- mean of course you know he's written a couple books about it Case Shiller Index is very widely watched and everything else and he still thinks we've got a long way to go on the price side so even if you're right about rates -- all these are historically low and there's no debating that you know four and a -- 5%.
If if you're out there thinking well got to chiller and lot of other people say prices are gonna go down a lot more.
Why why -- to just -- in specific markets that might be the case if you're a look at the country as a whole we're looking at a situation where I'm seeing leveling.
If you look at your your four highest foreclosure states department Nevada you know California Florida those -- -- states where you might see more drops but if you look at metro areas like New York Chicago.
We're on our our our bottom you know it could it could drop another potential 5% 10% sure.
But you know what are you ever gonna -- -- right are you ever going to be in the situation where you got the penny stock at a penny -- -- -- to -- coach.
-- the -- great mortgage broker well in that if that's how have you ever we need your perspective -- and it's great to have you on that and Mary's and -- headed to the challenge for you she says she doesn't believe mortgage brokers and changed at all.
-- they're just gonna find new ways to go around the new rules and regulations they don't have.
The people in mind.
Well you know it's unfortunate because there are bad apples and in any industry -- am -- you know standing here to say that that there are people out there are not doing the right thing but if you look at the whole.
The people left in the industry to you simply go back for five years the consolidation of my world is I might be working -- 125% of the people that were in it.
For five years ago and now you're looking at anyone is still playing the game.
I consider true professional should be at least doing the right thing say who or what is the majority of your business so it isn't you and me personally what most my business -- purchase some affiliate real estate company in the Hudson Valley -- round that you -- but obviously over the past couple months refinancing has been a huge thanks.
So that's and -- I mean it's that the way that that has as of kind of shook out.
Has been more refinancing then.
All percentage -- for my own personal business yes just because again I have you know past clients that that you know wanted to take advantage of the sub 5% interest rates -- -- get it now we got -- man you know and now with with the government in the launching the Fannie -- And Freddie Mac plus refi programs allow 405%.
Loan to value.
For people were underwater on their properties can -- take -- these great rates.
It's exactly this kind of questions for you better everyday challenges the second I know he's standing by -- and what I have I have a friend you know anecdotally everyone has friends that have houses houses are worried about the -- -- doing.
Different things and and this one city -- he he works in the business world.
And he said I can't even figure out.
Some of the mortgage regulations.
I've called mortgage companies that -- the same person same company -- three different responses I can't even figure out the fine print.
How do you -- -- at all well.
What -- the difference today from from let's yesterday's you have to be -- you have to do your homework -- who is -- it's confusing because again ever just as you -- everyone to call you might get a different response.
If we're going fanning -- web sites to Freddie Mac Hud dot you're looking at credible information and a lot of times it takes a lot to kind of sift through and figure out what's right and what's not.
And and I hope to find you know that you can find a local trustworthy banker or broker that explaining these new -- It is a question you should ask if you're worried and you're here right hand side so maybe some of our viewers wanted to look at television right now for the most part advice is free anyone is looking for money for -- little bit and supposedly like the person -- working with and -- crux of why -- know how to find editing.
And we talk about loan modifications or these refi plus programs -- even for fun homeownership there should never be -- -- associated with information and that's how I viewed anyone calls me.
I'll educate them the best I possibly can given the resources.
-- one of your viewers -- call somebody should be getting the same information.
It shouldn't cost you anything here unfortunately modification companies you call up and some of them might be on the level I'm not saying that the roll out there and are all bad.
But you know what you shouldn't have to pay for the service -- is a free service into saying one of our loyal.
Viewers -- Nebraska weighing in with saying that his first home with just under 10% that's terms of interest rate and it looks that is -- -- lot of people talk about that in terms of passage is what you -- saying.
Drew is historically we are solid very low levels on rates what's planned to -- over a -- with a -- the author of the book navigating the mortgage maze and they'll joins us from Florida -- we drew -- from rent mortgage is here.
It studio but -- I'm sure you've had a few minutes probably to listen in the conversation we have plenty of time left and -- time brawl.
You got to weigh in with your own mortgage questions but where do you think we stand and everything now.
-- -- -- back I think juries made some great comments.
You know where we're from and interest rates standpoint is even though rates are up in the mid -- right now we've seen a big jump in a week.
We have to go back and look at the last forty years history and we're still down close to the all time lows you know when -- was in the mid fours.
Legislature was I was told everybody refinance now you're gonna do it now it's time don't wait -- to go lower as -- probably won't.
We're start to see -- uptick but you know what they're still lots of up to save money right now.
And to what is that one way to people are missing I think -- -- we've talked so much I mean over the last couple weeks is that.
It seems like it's -- -- work as a lot of information.
And not a lot of -- -- navy mainly just don't like to do work but hey it's and hearing that from too many people that it's such a daunting task to listen think.
Quickly that they can do it should be and a -- easy to get everything worth a getting is probably working for is about that.
Can you give us a little some tips there.
Yeah absolutely I mean there's a few key things we're looking for a -- -- happily imperative first -- -- you have to go in that transaction very prepared.
They're the first way to do that is by going online and doing some investigation things like Bankrate dot com are great resource to go and look at where our rates that right now what are some of the lenders opting go to.
There are there are plenty of information on getting information much credit report you wanna go to something like annual credit report dot com and get a free copy -- -- airports do you know what your fight -- score is you know what your credit is when you go to that lender.
You can really be prepared with your income your credit.
Your -- you can know all about what you -- and -- an idea what the programs are out there today what the fees are out there today so you can start to negotiate -- good mortgage and the kids.
And I want to make sure people understand that -- that rain is not.
Everything in a mortgage -- it's one major component.
But what really matters at the end of the day is that you're getting a payment that you can afford.
At a term that we'll help you get out of debt faster.
And you're getting tax benefits in the process Joseph was talking earlier about the five and a half percent rates and if you think about somebody in a 33% tax bracket your after tax.
Interest rate is about 4% on that so it really is a great investment right now.
Kennedy question coming just from frank in northern California when he that you both to weigh in on this dale -- -- that -- -- he says is it worth it to pay for an appraisal.
Before it approaching our mortgage company on assistants or refi -- -- You know I don't really think that it is because the -- gonna do their own appraisal anyway that -- many times is a lenders appraisals can be more conservative what you might yet if you get out the market.
I think what you wanna do is do as much investigation as to what sold in your area that's comparable your home you can get that information online -- give you really good idea of where your values going to be.
And many of the lenders they have access to information on line they can help you to understand about where you're gonna date that's really the best.
Way to go when you think well -- on that they'll hit it is I would actually reach out to the personal assault and how's the realtors sold your house they can do -- CNN -- market analysis for you and again what they're going to be doing is they're going to be checking the houses sold in the area.
And give you a rough assessment of what your house with -- today.
Not to say the letter might come in and say it's worth less are worth more release it gives you a good idea and a solid footing to to start and again it's for.
Now we talk about the timing of all of this -- -- to bring this up earlier and I think we have we have a chart that we could bring up about housing.
Affordability from the National Association of Realtors -- -- the housing affordability index and when we bring it will bring it up on our live -- people that are watching us live right now.
And you'll see it when we do that it is hovering right around an all time high and basically it's really shot up here.
The last yourself and the definition here is that the person who has.
This makes the median income in the United States and now here's the -- in the latter and this chart now from of those you're watching us live can see this on the right side of your screen.
Is that people who you know I have or make the median income the United States.
Now have a 175%.
Or so of the income needed to qualify for mortgage -- -- -- home of the words.
We don't affordable drew do you have -- -- -- is now if you ever seen a time like this I mean this is -- about an all time high faces historic everything we look at when it when it comes to.
Housing when you look at the inventory available at the prices are being you know it's available -- if you look at rates if you look at the availability of funds it is tough as it is again as the -- is as I'm saying.
You have to be diligent you have to be savvy do your homework and all your ducks -- -- all but now's the time to -- you know if we -- We talk six months from our even if we were to look at today and we talked on -- month ago we're talking about how rates -- are so -- but look how -- have gone up the question is how much can -- afford if they continue going up.
Well you can afford a five and a half percent going to be different way to force ran for senate -- -- is well you know as good as rates aren't as low as they are you obviously able to afford war at the lower the rates what.
-- -- on that affordability question.
Well there's a couple of things that would say on that first off when you go into -- more transaction don't just look at as in depth look at that as an investment.
You know now is a good time to invest if you're buying homes that are on the bottom end of that value now and in a lot of markets ledger mentioned earlier.
If you're pretty stable market were getting down where I think we're pretty close to the bottom I do agree we're gonna see some more.
Drop in values but if I can buy today when you combine.
The low interest rates with the low property values.
The key here is three things when you bot number one make sure that you buy in a way that you can afford that came -- very comfortably do not get a forty or 50% debt ratio.
Set up on your things in other words if you if you if you're buying make sure that your payments are no more than 25%.
Or your income.
Compared to your income so that you can afford that long very well you letters will do forty and 50% debt ratios you wanna be 25% maximum second.
Make sure that your put money cash reserves sometimes if you put all their money down on the home -- if something does happen on the road.
Then they've got a problem enough in the fall back -- keep a cash reserve.
And make sure -- understand that when you buy it might go down a little bit in in the next three to six and nine months but you're buying for the long term.
So if you buy affordably you keep money this side and you make sure you -- in the low when you're making a good decision for investment.
Is there it is assumed great Tisdale.
-- And in -- on that when you're looking to to refinance though is there if they're kind of like I'm a watershed mark -- -- left follow for example.
I went -- -- more than 7% rate and a mortgage to four and a half percent rate to that that low.
That we've been talking about really the lowest you've seen.
I'm sure you want -- refinancing rate -- -- like a full percentage point over what you're paying is very tepid guidelines like that that you should.
We should have in mind seemed really get a good -- right now.
You know you hear things like that 2% ruling should never refinance when she dropped by more than 2% I don't really -- and in my book I talk about the fact that -- is not the most important consideration what really matters is what are you getting for the -- so if I can take let's say today on that 7% six and a half percent rate I can get into a five and a quarter five and a half.
And I can look at that say -- by doing this here's what I can do I can only reduce my payments but -- my term that's critical Jenna.
It's really important -- people refinance that they lowered not just their payments -- reduced that term get out of debt quicker that's an important thing to do.
If I can do that and my fees are included in the -- and I can offset the cost of the fees by the savings on the payment the savings in the taxes.
And the savings in the term reduction.
Then I've really done myself a great financial deed and the key is looking at the next twelve to eighteen months -- he's a twelve to eighteen month parameters say.
My cost for the loan -- acts if that's 4000 dollars that's what it is.
I need to make sure in the next 1218 months I'm exceeding that amount by how much I say that I've made a good mortgage decision.
But he thank.
I think they'll -- -- -- and I think it's it's a very individual case and you know -- to figure out if it's right for you.
You know we talked about the 2% rule that was what was you know back in the day now we're talking where if you have a 1% -- -- a three quarter percent difference.
In the long run it's gonna benefit -- it benefit you save you money it's worth it again.
To find this information on -- we talked about.
It should be freed in addition cost anything there's a mortgage cheque there's all over the Internet and pretty much go anywhere and figure are kind of what's right for you.
And and right now is the time to to capitalize on something like.
My lab we have daily at your website up and basically your email we're gonna Katrina up on the board a couple of although -- -- straight dot com we're hold on both of you hold on just 12 though because.
I we need to just -- checking with.
Are a California girl out there in Silicon Valley.
She's not ready yet but she did it to us again like yesterday where -- As Lebanon.
And he doesn't like you to see what it's like that she -- that she's just very bid yet there's been a lot of big executives so.
We're gonna wait apparently instead of going to -- and.
Let's -- -- a Twitter -- by the way 3 o'clock hour she's an -- Dorsey who crow found Twitter on normal -- -- -- -- to Iceland on listening to the -- -- -- happening in the money that's so I'm curious about that anyway that's upset.
Is it let's let's say and then all of a graduate from -- -- dale I think he condemning it if you're not a position.
And again I'm not homeowner says the -- -- analysis sometimes it feel like I don't ask the right questions here but it was the time to buy I got that I'm like I'm sorry I dale Gordon Granger is -- -- Manning wanna buy something I'm gonna.
-- -- -- you can deal because it says the economic situation if you're a little bit worried about your job you're a little bit worried about.
What's going on May -- -- available cash and is it a good time -- -- whenever viewers and the board saying OB and we reinvest in oh lead that sits in green technology -- home and that helped.
I say again a bit better I refinancing because -- -- a hole with a little bit more valuable because he used some money invested in now.
Is there anything you can do beyond its -- -- you.
Did this help you with the wealth that you have in your home.
And there really -- a couple things first thought I would say first and foremost found that anybody today no matter what your financial situation -- you really want to do a budget today because we do know a lot of things are changing we know the economy's tough right now you wanna start putting money decide right now.
So you can build that emergency fund now.
There are things you can do if -- own a home today for example.
One of the things that that -- talk about my book is the reverse investment philosophy what is that that's taking money and putting it down on your mortgage balances so that you are -- in effect a reverse investment let me explain that.
If my interest rate -- 6% on my mortgage loan and I have extra money decide I have two choices I can you put that an investment that maybe it's -- one or 2% it's very safe and conservative.
Or I have access I can put that towards my mortgage and here's what happens everything -- pay additional completely goes to principle I pay no interest on it.
And now I'm an equivalency I'm earning a 6%.
Investment on that less the tax cost so if its after tax four and a half it's kind of like earning a four and a half percent investment.
That would be something good to do if you're trying to build more wealth back and now the key to this is you only do this if you're in a market where it's flattened out.
And your values are starting to stabilize and come back you don't -- -- throwing money into a home that's continue to depreciate but if it's appreciate and that's a good way to do it and that's a good way to save money.
Any final thoughts here as we bought I think they'll -- and and if you're in a stabilize market now's the time I look at it where you you wanna put some money -- -- rainy day I mean you don't know what the future holds you don't know -- can -- but.
You want -- confidence to be a you know at highs right now you have extra money put -- paid on your mortgage if -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- raise my kids here collapsing and ever suggest when you can buy you know historic -- would be get into -- -- -- -- mortgage tie yourself down a thirty year fixed rate product you know your payments going to be.
For personal interest five years now ten years from now fifteen years from dale final -- from that -- out.
I couldn't agree more -- I'm such a proponent only seven of fixed rate fixed term product I think you wanna go in particularly in this economy -- this this this.
World we live in today you wanna know what your future's gonna hold.
And you want to take every dollar you can save and put that off any in any reserve fund so that you're building yourself.
Money on the side that can help you have things do you change down the road that is absolutely critical to anybody's investment portfolio.
Right sounds good at that we appreciate having you both on because it's really tapped to get this information.
And they know our viewers -- -- to thank you could -- -- your contact information up so people can contact engine is a lot more questions.
So -- beautiful person off they went I can't help column -- about it but maybe a -- both yup that's right up your thank you.
Thanks guys appreciated -- general great.
OK dale yet great to be here -- -- let the let -- let your viewers know that they can get access to -- chapter one for free on our website which is the top ten mortgage traps to avoid that we actually went out today.
I -- -- that we're gonna have the book up pretty soon we're gonna have the whole book available for a short period of time that they can preview it and read the whole thing -- -- check our website we will have to it.
Good stuff dale thank you got houses for transition not during the interview this is that.
I had an email during the interview that deal vermilion is following me on Twitter.
I'm very honored but so -- put them.
They're saying that it doesn't -- that are as well as Ontario I put my blogs what are president I don't sound like he might still.
That's big winter weather and several people by the -- British -- -- pressure right.
We didn't we -- there is there's a lot of -- be considered nobody.
-- can and cannot put a lot they are politically that is just more followers that she's coming up next live from the valley on foxbusiness.com.
-- -- It's True -- -- and -- yeah.
-- introduce somebody by insulting somebody else yeah.
It's -- that it didn't -- If click here if she actually listening to it now she's huge yeah we'll be even if you see a couple of times list and we did it'll be like this element of -- -- -- -- -- -- that now.
The easiest way to -- -- they CA is very good I'm wiping out again yeah.
Here and I guess it was last night you live we weren't we -- talking about higher grade interviewed out I mean it's it's been an incredible how does that question.
Cannot tell how many followers do you have now I don't like to make that.
Damaged public had a losses and the thank you and maybe I have 2000.
-- -- -- -- -- -- -- That's another story is not Rick Sanchez from CNN with 53000.
-- sorry but we're getting there at the let you know open later in the afternoon we're actually gonna happen co-founder of Twitter Jack Dorsey and before that.
The CEO and chairman of Google Eric Schmidt you know yesterday we had Carol courts what she had some feisty fighting words.
About hooking up with anybody should what does it have to be Yahoo! and somebody.
And of course you know Microsoft's bing is is getting that teeny bit of traction.
So this'll be very interesting conversation to be able to have Eric Schmidt of Google -- into all of this having the one to win you know -- of upping -- three but.
It's a -- pretty fascinating opportunity to hear.
From him but for the moment I want to talk about solar because as you look at oil right now.
Around 69 dollars a barrel and remember what we were -- July of last year a hundred.
Dollars a barrel well that's -- solar companies were taking off.
And then everything dropped because of course oil dropped as well we went down close to bottom -- forty dollars about fifty dollars a barrel set.
A lot of companies have trouble surviving but not so with a company called right source might -- today -- that company he is the CEO of rights -- -- want to welcome John -- thank you for coming on.
Thank you were on the web show right now so.
We get to be a little looser fast and furious here and a -- -- just throw this to you.
Oil drops in price do you cringe at that don't you want higher oil prices to make your business more viable.
Not at all the oil is completely decouple from electricity -- oil affects transportation and transportation -- but natural gas.
Tends to drive the cost electricity and natural gas.
Dropped somewhat over the last year but not -- not anywhere near as precipitously as well while going from seven dollars per million British thermal units down to about foreign change I would say that's a precipitous.
Move to the downside for natural gas to it was a significant move announced -- back to apps but we look at natural gas a lot more.
To tell about part -- you know your utility scale solar thermal company.
Where he captured the sun's rays direct them right on to water towers which then boil the water turns into steam and propels what.
But it does seem that generates take turns a -- the same type -- -- that you find its title fossil plant generates electricity.
And -- -- should always been delivered to the grid and it does not just an idea company they have big contracts with two companies socal Edison and Pacific gas and electric correct right we've signed thirteen hundred megawatts -- PG -- how many how many homes without power.
That would power roughly 60700000.
At what about so callous.
Socal Edison is roughly the same size not one point ridiculous chanting.
20% of the utilities output -- to be renewable correct yes that's that must be at least a nice buffer for your company.
It is I think that's why utilities and people are very focused California said it very clear guidelines 20% renewable -- -- -- 2010 and utilities are marching very very aggressively to get back on topic what's next for you.
Will now we're all about we've we've we've built our first plant -- in Israel -- actually we're now gonna start constructing our first plants the United States in the construction.
Is a very very important execution -- for the company that's going to be what we have now that will generate power for the State of Israel the country.
Entire country now and it is -- we've got a -- -- actually demonstrating the technology.
That's now been verified by external engineers and external and now that allows us to move forward and constructing -- Let's talk about the a -- -- That doesn't necessarily jibe with us with a utility scale solar company but.
Do you look at this is all good or not enough.
Now I think the administration and the house and senate did a very good job reacting to what happened what what was needed to get done in renewables we had credit markets that weren't functioning very well.
In his -- to DOE loan guarantee program.
We had another component of finance -- -- tax equity that market was challenged as well on the came in with a grant provision took to backstop that.
So that the administration spot really carefully through.
How the transitions across a very tough one or two years in the economy and make it back to where markets function you and I are both.
Berkeley graduates they just asked you to come back and give the commencement speech at the the hostile business congratulations.
-- -- you those those very funded it and Jenna and Holland and O'Connell he's.
Is a success story at Berkeley and will be watching the business world to see how his success continues John Bullard a bright source of luck to you thank you very much you're welcome back -- you guys found fascinating -- -- quick question for you it is netbook next -- Your sense but I guess it is actually I'm upset I know Europe says it's a Hewlett-Packard.
Vivian -- I don't know.
Fasten my now -- I doubt wait gonna show you the mouse Carol Bartz to Yahoo! really like if they.
Wireless about that's all -- care about it that may think I ago.
And I had in the last night and their family wants -- is it likely is claimant and that's just one -- I got the fear of a fifth when more.
-- -- then we will do is always -- -- We appreciate.
Wait hold -- -- -- -- substance a Jack Dorsey Twitter that's what in the 3 o'clock -- -- Eric Schmidt is seeing and is -- That's a good question Google to up to 2 PM -- You know and so that's been our Pacific sorry no this -- to see if I don't I don't like I don't have -- up the times that happens the same thing Escude he's just different dedicated ethernet.
M -- I've got my old clock until eternity here it doesn't matter they're all great interviews no matter what time it is -- thank you very nice to -- claiming you guys got to thanks gang get a tune in for sure I'm in a bar that.
Tampa -- that three days in a valley obviously has been just great it's it's just great.
It's bits that are exclusive to Fox Business so they yelled Jack Dorsey at 3 PM and -- get Eric's minutes 2 PM.
If you've got to worry but let it get -- seeing Carol Bartz was interview with Lindsay should check it out from yeah he's.
That have been getting you into all of them are but it but that was Anderson good -- -- -- just a few people.
She does yeah I never -- -- agree with -- before anyway and not that's all doubled our website foxbusiness.com.
One more subject to get -- for you guys and that is Chrysler.
-- three days in the valley -- -- months in the trenches say here on the auto beat Natalia.
We're outside that Chicago Indiana at this is -- Hobart Indiana.
-- Chrysler dodge one of 700 in what is it 89 I think is the number.
That are get a walking papers today for Chrysler I think you'll look around Bob moves around the outside of the dealership here it's kind of you know typically they would have new cars every spot now some of -- parked sideways -- You know it kind of that this typically would be the way -- Display cars if you had a whole lot Fulham but they're trying to get rid -- I've got three generations.
Of ice -- here.
Isaacs senior here bill Isaacson plow this field little political horse he had ordered to have an actual track I had a -- tried to suit coat and then make your older radial tires out.
But this is piece of -- been in their family for years a 120 some odd years.
And they never thought.
Yeah we're gonna get this weight for to come down.
Never thought it you know to 81 years a relationship and then end up getting it with a formal letter.
And no conversations chapters the ultimate pencils.
Drop by sixes in a wheelchair he's had about customer he was shot somebody car slam the door on his ankle so -- -- excuse him.
Actually yes what they they've been -- that your only -- Rupert customer.
They've asked you you're even -- they're gonna come get your signs.
That the over the next couple weeks months that there convenience of becoming beginners Democrat turned -- scientists -- I know you've got an appeal out there we'll ask Stephen about that.
You and your brother the latest generation in this you've got an appeal to you heard anything on network.
Haven't heard -- thing we just all there -- new resolution from a congressman from New York appreciate that and we're still waiting to hear what's gonna happen.
Well there you go.
There is bill introduced yesterday that -- -- the house.
To try to overturn this get both GM and Chrysler dealers to be.
To stay on board but right.
Now don't look good.
Doesn't at all all right Jeff another if -- great job of bringing that personal story to us from from Indiana thank you Jeff full time against him -- -- -- -- anyway so that's about just about everything covered from what's going on with -- and with Chrysler and in technology.
It's another kind of busy day markets flat but that doesn't tell the story -- -- gone.
But I guess during associate get into my if you had a that's already check this out and apple -- -- -- -- -- -- --
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