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Happy to sit and connect PMI from Tracy brings -- data sent twenty points but NASA -- up actually.
Fractionally at about four points for the -- today actually is in the tech sector.
We're hearing that Pfizer might -- King Pharmaceuticals.
Pfizer of course on the New York Stock Exchange but.
King Pharmaceuticals is a deal that actually could soften the blow to the expected loss for Pfizer and -- -- -- blockbuster.
So can shares up 39% because of it we also hear that US small business optimism is up it's fractional but I guess it's something -- take it.
-- Clinton news today to diners to -- -- -- him an expected to meet a G and CEO today to talk about.
You guessed it they're public stock offering why they're doing this I don't know but the intense that it.
Notion is that they're gonna raise money and give it back to us taxpayers.
General Motors CEO Dan Akerson of course is.
Prepared to talk about it wanted to happen.
And sooner rather than later as you all know we bailed out GM in 2009.
There was a lot of news today about Wall Street's big payday.
Many on wall -- are on pace to collect some nice.
Big salaries big bonuses even though the rest of us are doing so great.
Lots -- talk about it look.
I don't know if you if you -- that you deserve it that's -- -- -- CD.
Citigroup in particular still 12% owned by the government they're not getting raises an and they shouldn't because -- we still on them whereas Goldman Sachs.
The -- their money back -- doing it on their own they're gonna see you know 34% increase not a huge.
-- thrown out the farm that I did it all way to the guys who work there.
But they -- and I guess maybe they're doing better so therefore they deserve it one of the things have been here -- is that Avon is a takeover target.
We're hearing whispers that maybe Lori L wants to buy it Avon calling of course everybody remembers -- Avon lady.
I don't but I actually use in Avon Products so.
-- united one of the most well managed companies in the world.
Potentially getting taken over by Larry on who else knows one of the company's gonna jump -- -- and -- -- all week about.
How they're burning your money.
You may get they take it and now they've taken it -- -- and they and they have blown it I'm crap quite frankly.
That is -- -- McDonald's with us now she's down -- New York great -- and talking about how these pensions are so underfunded.
It's -- Maceda thing especially in a talent rise and affluent community.
Yeah riding here -- New York Tracy.
Then there is very upset because local residents here -- property tax increases to pay to help pay for unfunded.
Government pension plans and also what he's -- to.
That health reform get this Tracy and this is going to be breaking news story across the country.
-- -- -- is causing insurance premiums go up for governments across the country including here and rye New York so what's going on it is.
Think in -- has to raise property taxes here as he can -- happening across the country.
Raise property taxes here to help pay for the increase in insurance premiums to pay for health reform -- that we're ending thirty million or so.
New individuals into their health care system you gotta pay for somehow.
-- you're -- here this is really it's just say we have a number of studies coming out now about how essentially government workers get guaranteed pension plans.
Right that's -- guaranteed 810% return see here.
That -- fun despite US taxpayers that -- -- taxpayers -- Chris that the fund their own.
Pension -- so we're seeing -- miss management on the state local level.
Three and a half trillion dollars that's according to Northwestern University Rochester university.
3.5 trillion dollars in pension liabilities.
We're seeing trillions of dollars in unfunded liabilities -- missing according to some estimates pew center for the state says.
One trillion dollars.
For unfunded pension liability -- Tracy.
Nineteen states faced serious pension underfunding concerns.
And again the mayor -- -- New York is very worried he doesn't like at their property taxes are going up here.
To pay for things like government guarantee pensions which we don't get.
And also for health reform take a listen.
Looking at a 7% increase just to cover the increasing Obama health care plan.
Which is gonna raise taxes probably -- 5% just cover the health care of our employees.
And -- 2% direct property tax increase to cover the increase in pension contribution.
So -- wedding guests -- -- local household level.
You know the pew center for the -- just talk about -- and pensions 8000 dollars on average that's nationwide.
The other estimates receive more than 101000 dollars per taxes and -- US hassle -- taxes owed to cover government worker pensions.
Now when -- William W look at the local level -- Tracy did this.
40000 dollars per household in Chicago.
We're seeing 30000 per household in New York City in San Francisco and Boston.
It's Chicago alone isn't -- just stop spending on everything else.
It would take eight years so local tax revenues to pay for their pension costs that they -- their city workers -- Tracy.
This is an issue that's taking hold nationwide.
We're seeing about I think it's upwards of a two dozen states and -- than meets at municipalities.
Seeing ballot measures to admit it we form we know sixteen states have.
I have already moved to cut back.
On that benefits and pension plans we've seen in Missouri we're seeing it in New Jersey that's according to the national conference.
A state legislators so there isn't reform moves afoot but not nationwide just yet at times Tracy when you worried reported this.
Get this no color adjustments for -- security retirees still cost of living increases.
That's two years in a row we haven't seen that since 1975.
When this -- adjustments were put in place back teachers say they both.
Think I I just don't I don't think it's fair that we're doing this to our seniors because we're screwed up several routes or punishing them -- -- back to -- sum -- -- he said I've been digging scrupulous notes.
-- -- and nineteen seats that are -- had pension issues.
And now -- they have -- cities that you said.
He's good isn't -- property tax hikes and -- run on the campaign that he was not -- -- raise property taxes.
So I can't answer -- not -- others -- like that app there's so now they're stuck to rock and a hard place has no choice.
Yeah that's right and you know -- -- it's so into.
Think because he didn't run on a campaign to stop property tax increases for out of control spending.
But he has to face a local City Council Wright who was very recalcitrant and his -- -- the by the deputy talked them.
And not doing your form he says is needed to keep their budgets up here.
Fiscally sound and -- you know this is -- isn't it going on across the country and nobody's talked about and that is.
Property taxes have been steadily rising across the country to pay for government worker guaranteed pensions what do -- we do we as taxpayers get guaranteed pensions no.
It's just isn't enough Tracy talked about it sued -- guaranteed as we said 8% a year 10% a year remember the joke is is that that roster native Bernie Madoff couldn't guarantee a -- -- guaranteeing 10% speaker and isn't that great or Philadelphia but this isn't going on across the country this is my problem -- big prison like property taxes continue to go up.
-- state local taxes continue to go up because government workers -- guaranteed pay and pensions when regular taxpayers do not.
-- -- government workers do not have to fund their own pension plans when regular taxpayers have to do -- -- 401K plans we're seeing that with form coming in possibly in deadly Missouri.
And other states like New Jersey possibly 41 K style plans happening maybe in California as well.
And -- he had and they should girlfriend but listen these are the worst part about your property taxes go up -- new while the value of your properties decreasing by the second is plummeting.
Do you think that we're gonna start to see some states.
Raise state taxes as well I -- property taxes are sneaky way to get -- you know right from the state taxes there's no obvious.
But we are hearing -- into wasn't -- talk about instituting estate tax alarming even because -- -- dying in their property taxes are out of control -- now right.
That's why we've really seen you know them come to dire straits and raise the taxes across the board do.
Right and that's simply.
An -- just raid in other words -- states I have no state income tax maybe that will be.
You know we will see that anymore we even we go to Washington State is -- and rather instituted for the first time -- tax on people who make 200000 dollars or more.
And that could be the team he did hit other brackets as well they could you know make that happen.
And so but the issue since -- Bill pending before these pension plans intended for these benefits very -- governor Chris Christie saying.
Look there -- these benefits -- 40% on average higher than what the -- private sector worker.
We -- northwestern university -- -- -- universities such as saying in their city they say possibly municipalities.
May default on their Muni bond offerings.
Or they've indicated a possible federal more federal bailout money going to.
State -- -- locals state local towns so you know we've got to start talking in this country about the reckless is going on in the state and local level when it comes to how they've -- their budgets back -- And I know that I -- let you go with someone posted on the the boards here that.
Think -- taxes six -- till Tuesday which they will the money never spent appropriately and that's a -- last point.
We're not paying attention to where this money's going and they're not -- I don't hear anybody talking about.
Fixing that part they're that we this year people it and you know he's -- -- in -- talk about trying to collect.
More -- Right that's right and you know Tracy you know what the other thing is to I -- to talk -- about this.
You know I come from 19 you -- -- from New Jersey I come from NASA -- In my -- out there they are naming bridges are naming parks after local politicians -- like a living in his Pakistan yeah I mean or or you know he's so I think he's right and the Soviet satellite states where they name all sorts of public property after themselves.
Right well because I mean you know they think that they're yeah I was.
I don't I don't know what I -- she is in the morning -- -- clouds their minds and their vision.
That's me right and you know people in this midterm election I think people are gonna start listening to what.
-- Massachusetts Scott Brown has said again not it was a Ted Kennedy's seat it's not a politician seen its of people seeing.
And that's why you see -- Tea Party coming on strong and you know people can dismiss the Tea Party.
For whatever reason whatever criticism -- -- aim at them what is usually uniformly ignored in the media and in the press.
-- the fiscal issues of the tea -- bring it to the forefront.
And that's what matters that's what matters for the future of the country it's about robbing the public purse and that's what we -- seeing.
-- -- drilling down at the state local level here Fox Business into the details of how it's happening.
And it's really story that is needed to be told more and more and it's not and we're doing and Fox Business thanks to you we're doing it -- -- and I would name of rejecting you any day.
-- bridge to nowhere tonight.
-- that element of doubt told us that I wouldn't -- -- live in a dead -- that.
You agreed Larry.
They've got home -- going down and the whole thing is just a bitter pill to swallow than Lindsay thank you so much.
Unload collided and the worst decision -- mentioned it it's we get the mayor saying we have to pay more for health care.
What would listening back -- not that's -- I get it.
And -- Dow down 31 points right now.
Another thing that people are really concerned about believe it or not is legal costs of things those -- -- gone through the -- to -- in such a litigious.
Heck somebody you assume because my toenails or -- if I'll be careful and I pray tell you laughing John -- here the CEO of rocket lawyer it's hero.
-- to -- -- so easy isn't it.
And there's lawsuits everywhere and I have to worry about legal expenses especially.
The small business you do and we we just recently did a survey -- I -- rocket lawyer Jack come and we recently did a survey would Zogby.
In which more than half of the small business owners and surveyed said legal is their number one scary thing for their business and so.
That's something that small businesses have to take seriously is protecting their business especially when they're just starting out you know.
A lot of small businesses make the mistake of not even incorporating.
Themselves and so.
They're operating you know lots of folks who have been laid off or who are out on their own for whatever reason and trying to get started.
-- one of the things that they don't do is incorporate their businesses.
And as a result they end up having some of that personal level and I don't know about because they're -- those are red.
But you know the personal liability goes with running a business.
That they you know you have a great -- with this incorporation thing especially now it's on the forefront because old tax rate.
It's because the tax rates are going up so I I mean I'm a little partnership I -- my own personal tax return right now right now it's more beneficial for me tax wise.
If the tax rates go up it's actually more beneficial for me at least from a tax perspective to incorporate myself with the corporate tax rates could -- -- to be cheaper.
I think a lot of people think though that incorporating is an expensive process is that true.
-- and incorporating can be relatively expensive.
But it did also depend on what your benefits going to be.
I want to get back to the taxpayers for just -- and say.
I'm the first thing that you want to do is understand and so.
You can go online you can go to.
Lots of sites online that can help you -- understand.
Some of the different ways that you can organize yourself.
-- tax season but I will the first thing I'd say it's.
Get a good advisor -- a purchase for tax matters now incorporating is benefit that we have in all fifty states in the United States.
And what it helps you do is organize your business affairs and a way.
That you can properly bucket -- categorize the things that are the business the business expenses.
-- you can categorize properly as business expenses put the business liabilities.
Where they ought to go and then absolutely if you do that right.
You ought to be reducing your risk of taxes as well as the other things that come up in business like getting -- -- and if that doesn't have to be expensive.
To incorporate your business if you start out educate yourself for free you can do that at sites like ours and other sites and then there are a lot of these things that you can actually -- yourself.
So let's talk about rocket lawyer you started this why.
Well tickets -- rocket lawyer because.
What what I saw about three years ago when we when we started up was.
So pretty decent information in in the form of books though you could go out and you could buy a book.
And you know a book sort of this -- and try to educate yourself about the law if he didn't have a lot of money to spend.
Or you -- hire a lawyer and down we've that's always been available but lawyers are expensive to -- -- out -- with the Internet.
We can give people an easy place to go where they can learn about the lock themselves in them in a more.
Informal way so they could go.
Answer a few simple questions about themselves and their situation with everything -- interview driven.
Like if -- -- that tax prep program and H&R block into it you know Turbotax.
That's sort of an experience to go into common legal -- I thought would be.
Great and it has resonated with people more than ten million people are gonna use rocket earlier this year look.
Certainly we've we've seen this resurgence of the -- -- and from there in spirit especially.
And it happens when -- interception -- everyone gets tries to get off their butt and do something on their -- And -- -- -- you talk to small businesses all the time yeah what's the sense that's coming out of them I mean I reported that this survey and that this sentiment is up.
Attack but it isn't you know -- a lot to me like.
I needed this -- -- -- I talked to they're still really down and out about him that well I think there's good news -- also though small business owners are are definitely.
Concerned and so when we surveyed and they definitely say that they're concerned about high legal costs they're also.
Concerned about the -- the overall economy it's never easy to start.
But you know some of the best companies.
Ever companies like Microsoft yes we're just absolutely were started in response to.
A recession our business I mentioned we started three years ago we've grown quite a lot what we're providing folks is an affordable alternatives to some more expensive process is.
Still what is legal fees that they're most afraid of are they afraid of getting sued -- they -- -- they are.
Absolutely has -- businesses are afraid of getting too they're also afraid of compliance and so.
I really try to talk to small business is about that the three big things that they can do.
The first is to understand.
The -- understand it go and educate themselves the second is to organize and operate their business in a way that reduces their risk so put contracts in writing.
Keep good records the third is compliance we all have to comply with federal state and -- -- that's the hardest part of that those three pieces that you just offered because.
I don't think the government understands its own compliance rules and regulations -- -- -- -- you know by the minute.
Well there it's.
Always a dynamic environment and so.
The did the government rules change when you reduce taxes the government rules change when you raise taxes so we knew do you any sort of governing.
Day -- -- the rules change one of the things that we try to get people to do is think about their legal needs more like a vitamin that an aspirin.
And so by doing that you can do that every day things that are gonna help you -- -- for example a lot of businesses don't know that in count the state of California.
Every two years they're supposed to do HR training in the business -- they may not know that and they may fall out of compliance.
By educating themselves and then having a program.
We have a set of tools on our site that we get that we encourages business to use.
To basically have a legal calendar to help -- -- -- compliance compliance and then have a good.
-- a good financial and a good legal advisor.
A good lawyer -- is that this jury that day break it all started back with sarbanes Oxley.
All these -- -- put -- -- that are really.
There they're just standing to the small business guy because he's he's -- the senate where he's got to hire another person.
Just to keep in compliance in -- skinny continue to happen right the financial reform act is coming.
Is starting to kick in all the stuff just puts the burden on the small business that is it is that the staff to do it himself.
Yeah it is it is a challenge to comply with all all of the laws rules and procedures now those rules and procedures are there for a reason.
There there that's.
Got to show -- paired up well.
That then that's okay but -- are the rules are there for her reason.
One of the things -- that and and whatever your competitive environment.
You know I'm an entrepreneur myself.
When you go out and you start a business you know that -- in in a capitalist society.
You're gonna go out and you're gonna compete here all right and so one of the ways that.
They're so small business owner can put their head in the sand and they can complain about the way things are or they can go out and get the tools to compete.
The way things are fair and and so I I'd like to talk to him about.
You know we understand that we are in a litigious society we're in a society where there are new rules coming up -- every.
And I'm not necessarily every day but every month -- -- -- exactly there's.
New stuff happening and if -- -- landlord for example you have to comply with the rules when.
Sadly you have to fit it very people that's going on a lot today.
But it did just that it's just did to me that went for small businesses are worried about legal fees I would have thought I mean I got -- believe yes it costs around up there to.
-- -- that -- you are you worried about -- you know taking tax rates mean that the kind of all that.
Sure sure and they they add up and so if you're gonna compete and in this environment.
You you really ought to make sure that you understand.
Of the -- -- have the weapons in the schools that behind you because I think one thing that we all share and they -- Communist.
Four for America to be better.
Small business has to succeed.
And not just small -- -- new businesses the real you know there's a lot of there's mentioned studies lately about.
How important not just small businesses are the look you -- -- that is to say small forever since it's the new businesses you -- Southwest Airlines.
It's those businesses that organizers entrepreneurs out there who may be listening.
-- organize themselves to go out and compete.
Based on the environment and hand to offer affordable solutions and people.
Need affordable solutions and to make their legal the legal part of their business a competitive advantage and so we try to help them to think about doing that's.
That's -- rocket lawyer at three years ago it's brought Hitler dot com -- that's right John I think you so much for being here my pleasure I wouldn't -- a break.
Definitely can't when he points now I think they'll hang on hang and it's an there.
-- -- -- Still actually here at fox fifty is as well -- -- he looks at rallies that's helping out.
Again but he didn't break when we read back again Lama to talk about especially more about what we're doing all the blunt talk and I have a burning your money -- -- and he was a little bit as -- -- kids and -- back.
Welcome back at the -- -- I'm Tracy burns -- Dow down 31 points.
It's old -- not everything is kind of hang -- don't forget we get fed minutes at 2 o'clock today so a lot of times the market kind of goes on hold.
The team let you know about 11 o'clock which is when the market looks like if rose.
-- we hear what they have to say.
She's made that listen -- -- -- you -- -- -- you watch contracting.
Laws that whenever that is.
-- yeah -- camera is go Bob -- -- -- good -- bad was it is with us right now but they should be with us.
He revered times best seller.
-- -- -- that I'm not sure I can actually say on air so I'm really used to line.
-- -- I didn't say the last hole you did you can zubaydah and you tell us because there isn't near times best seller can you tell us -- that.
Rule is before we get to the new book.
Well it's a pretty basic role the rule is that doubt the best organizations don't hire jerks and when they discover that people are jerks they they get rid of them and -- -- -- all the and that it starts from the top and it works on down and meet the -- I work with here are so cool you know.
-- little problem I had so fabulous and it works all the way -- and I sort of feel like it doesn't -- in your house sold to right.
It's like mom oh yeah -- at.
I will hear about it.
Both positive and negative emotions are contagious so you have that it spreads like a disease whether it's good or bad you're absolutely right.
OK so you got that role it's you could have given me and one live on the first page your book but you're -- -- about it and they go under Reagan was that was in the mean.
I guess it doesn't just more.
I usually see me and I -- -- you.
Well good -- bad -- actually digs -- The range -- actions that good bosses do.
Holidays lead and inspire expressing their immediate teams standout so it's a little bit hubbub of a broader of a buck so it's it's not just on jerks the best bosses are both competent.
And compassionate and -- so for example one of the things that came out from the last -- -- -- last hole.
Was the notion that that some of the the nicest bosses really civilized bosses aren't competent people don't wanna work for people like that.
At all it and I get its -- is very difficult.
To have a nice -- and in fact one of the companies I work with that corporate board members were telling me.
They had a really nice really incompetent CEO and they're having trouble on fire because you're such a nice guys out.
There's problems with deal with nice and confident that SM.
-- -- -- People want I want leadership right funeral leadership -- -- and again I keep saying I quit my kids kids well leadership people like.
You'd be fine but they also like you to guide and lead and what are we missing today -- -- Are you seeing that there's companies out there -- boss is out there that are not leading people properly and is that why would someone who aren't.
Happy at work.
Was so it actually turns out you know I've I hate to be optimistic I don't need everybody wants -- pessimistic.
I don't know whether that it actually turns out that about 80% of Americans.
Those of us who have jobs there's the other 10% -- down.
80% of Americans are generally satisfied with their -- and and yes the sort of lousy 20% do an awful lot of damage now but.
But but in the in the long term I think that what happens as they chase the -- employees away and they do all sorts of damage.
But but this book isn't just about bad bosses about what it takes to be a good boss to get better.
-- an alien bad boss these days is year screwed you said.
You sit back where -- say that -- because -- -- you've got to go on the web now I'm certainly all these blobs of lead -- my boss and like all the stuff on.
And in -- web sites out there on companies ripping companies apart all the bad -- -- -- It's losing your -- this is actually be good got.
Further study guide to that point that we have somebody in Silicon Valley here -- just got -- Mark Hurd.
And something that hasn't come out quite so much as you -- one of those web sites the glass store.
Unless something like 23% of HP employees only 23% approved -- -- -- in contrast you look at people like -- Mark Zuckerberg.
Who is controversial but liked by his employees and down.
Also Steve Jobs they were getting like nine -- I'm percent plus ratings.
I suspect the board notice that that can get you in trouble.
-- yes so RA.
-- about if I have a job is that your -- -- -- -- -- good -- 90% of the world is still working.
-- -- -- -- -- -- -- But I'm one of those people that can't stand my -- and -- and now I'm in a position right now I can't quit.
Good there's nowhere to go so what are some of the things they do appearing on -- happy employee.
And to me it will the first one as you say -- -- you can get out.
You know planned your escape route and even if you can't get out now I was sort of be look into the door.
And two meters to things I guess three things you can do one of the first things is actually have a conversation with her boss.
It turns out in this is one of the main points and good boss bad boss is that the degree to which people especially people on authority.
I'm can -- be clueless about their weaknesses is unbelievable.
And if you feel safe with your -- sort of have a conversation about how.
Maybe things could be better the second thing says that to start sort of rallying to get -- your boss a Smart employs a good I'm politician.
And dusting it is yeah.
I believe earlier government upheaval in the office plus.
-- How well you have what -- so this if you look at bad bosses who have been gotten rid and I -- an example actually from an old Hewlett-Packard story.
In the book where this happened it's almost all.
I now -- -- it was mutiny.
He said that and any people relate getting in the heck yeah now.
And that highly technological problems which I'm gonna go with the latter I'm -- nobody wanted to house -- and even though we swore on nearly three times as early present.
But what do you made a note Glenn I think it was Glenn in Sacramento a good wasn't the one a -- note is -- -- from doing the job you wanna do.
And we had on the CEO of great wolf last year the other day because she was on undercover -- she went and I did Madonna for people I think it makes her that much cooler.
But it's less like companies like UPS we needed -- EPS Jessica brown bread truck where the brown polyester drive the truck I think the -- rights -- less.
You can only go one way in the interest of its -- -- that.
But doesn't really want to work with the people that are willing to do the dirty -- like that poor woman Kim.
God -- to -- pick up group.
In that -- at great we'll -- and she did it about that that's good.
After bush -- -- to work for.
You Dow still down thirty points as in -- were hovering waiting on at 2 o'clock minutes.
-- -- coming up and everyone's all fired up about Halloween these days but there's a charitable aspect to it accident terrible aspect to all things these days.
-- Colin is here with a -- spirit -- children now this is part of -- -- it.
Here we -- that was the other day you CEOs here the other day and he started talking to us about it as a matter of fact -- -- -- -- bracelet to spirit of children goes into hospitals yet.
And gives them costumes in hopes and get dressed up enjoyed -- yes yes what we do it.
You're exposing every year we go out -- doesn't have those and we heard the Halloween party but it hit me bringing everything custom decorations accessories lake -- Every evening imagining -- -- in the evening Halloween party everything it still needs it hits so fun it's so my parents everywhere it.
What has happened -- -- over the last couple years I mean charities been really struggling -- and to be in general especially with this -- have you seen any that.
He lacked as feared it I think we started collecting we factories in question 2000 -- Since 2000 that we collected over 2.3 million dollars in cash election is -- Our customers and our vendor partners that we really haven't seen the effects of the recession and everyone is really -- To donate a dollar if -- me -- -- -- go to spirit Halloween you -- cost him he donated dollar it goes to the kids it goes 100% of every dollar that Stoney end.
Feared their children -- indirectly -- the child -- apartment at that local children's house that's what makes this program so unique is that it's a 100% of every dollar.
It's in the -- it's the hospital and basically that takes the money.
-- the -- it's the money antiques and does.
There's a big part of the kids until we actually throw the party for -- at the coupon program and -- -- -- -- -- is actually happening next week in the nineteenth we had about.
Coming events that are going to be listening to a half of those strapped united.
Now the other part of that -- -- heart and the day expert -- and Labor Day weekend.
Through -- -- close which is right after Halloween.
-- collect money from our customers.
-- 870 -- you're telling stories are collecting money for hundreds of six children at hospitals around in the united -- -- that.
At the end of this evening to -- the minute we come back is doing the child -- department.
At that specific -- and they use -- money for a variety of whether it.
For additional staff coming on the weekends to open up clean -- That he didn't have the funding for before it fell on the weekend it had not posted totally separate from Halloween party totally separate from -- that's a really cool.
And now you're saying that you've seen.
You see him and he can come and it hasn't -- it hasn't stopped at that purple shirts collect.
It's really encouraging actually sit the -- to collect 200 -- two million for hundred hospitals right.
And you just -- Disburse the money the money I talked today that tell us about the sixty tea parties that are happening CUS you have to have 63 different party teams going out there at 63 different.
He was dying out there that the United States and Canada and a and what we did our vendor community is amazingly that hyper -- don't need a lot of the console accessories or.
You asked which week take for their party's.
Change the kids just walking into their play around with -- -- -- -- and its transport and insist this.
One at a Halloween and back and -- -- -- mountain each week month.
All of it fat and that can think and the company will get their cost handy at eighteen Nancy separate company is.
Eight -- -- -- so fabulous it's an absolutely no wonder it's for inpatient and outpatient and siblings and he -- his visit that day.
It's looking for -- if the child is too -- to leave their room under caregiver is welcome to come down.
Take whatever they want to take back for the child including activities trick -- treat bags.
Everything will be brain is donated -- that house but -- -- -- -- extra cost him as the feed them.
For how we think the latter half of my hat trick or treat hurry up a -- -- That happens that would be.
-- in -- it's used for many different purposes throughout the entire year.
That is really cool listen -- people can still go to spirit Halloween.
Go -- anyone still time to donate still trying to donate any whenever he hasn't had any stories that spirit of children fat content.
We're spirit Halloween background different story and that it will come -- purchase anything made a Halloween it's any Hispanic children and help kids in their local community.
Not some of -- residents and said tell the guess that's a wonderful it is 1 o'clock.
If I order my -- online can also donate via the web yes he technical things.
C'mon a buck doing it I think this is one of the -- things can you I just like to have this image of a little girl and dressed up as princess like.
Being so happy it's mad about it then that's such an army.
Fifty Politico -- he and for the -- NN.
-- -- -- they thank you so much to share this it doesn't everyone go out there -- it.
Geared at children back conference spirit Halloween pac donated at least a dollar come.
Couple -- to three dollars.
I is a little fun like tossing my kids have these whacko idea to have to -- needed skating union Dow's down basis -- will be right back.
I am asking you all right -- would -- -- for Halloween.
-- -- Don't tell me nothing that -- And even if your -- just giving out candy for the kids he should -- up to be really fun to sit in the sun.
Make -- they say secretary -- I make my children's center critique down to psychology bag out like expect something.
Say trick or treat thank you move on.
Rich -- knows this is he's from Jersey and from Jerry in Jersey we have -- night actually in Jersey Dolly is a good thing.
-- -- -- -- Why it's cabbage Snyder -- -- -- it depends -- what town you're from I think pat I think it depends but other words.
Yeah I just make sure -- you put your car in the garage I am warning you don't want shaving cream all over -- I think that's.
-- it makes little -- exactly as you advance.
Let me it had no comment -- I know I hate that was -- criminals they're still burning our money and that what you're on Denver's a welcoming better than that.
Not much to tell aids it's beautiful here other than the rain and snow in the forecast.
-- put it -- and it's been it's been a phenomenal I don't see it isn't here with doctor -- racer who is president of the national association of business economics.
Just come out with a report in which we're looking at yeah.
That's the biggest problem facing our economy.
We talked a bit about this on the air earlier before doctor and it was federal debt loads and what what does that look like over the next.
Few years for the United States if we don't get this under control.
Well as we see some economic recovery the -- in the annual deficit will shrink a little bit.
But the -- We'll continue to rise and he would only get to full employment.
In debt GDP ratio continues to life under almost anyone's scenario under.
He assumption that congress will act as it has in the past Nixon variants.
Tax cuts and other spending programs.
You could be looking at a debt GDP ratio.
Of a 1000%.
By the year twenty and these numbers are just explosive.
So we probably need to raise taxes and we need to cut spending -- -- a combination of both that we need to do.
Perhaps that will be the ultimate solution but I think we need to decide.
As a nation.
At what level of the overall economy yulia wanna have government spending -- -- -- government spending for the point 5% of our economy are 18%.
And then go from there.
And -- were even talking mostly about.
-- beat me in part it has to do with the stimulus in and potential costs when it comes to that the health care bill I know that CBO says it's gonna.
Reduce the deficit over time but.
It could be costs related there there's uncertainty that we're talking about long term health care entitlement programs for -- and that's really what's what's going to be -- Problem sources security and Medicare and the whole health care.
Burden is -- the big problem that this nation faces in -- programs that is another we have.
Been reluctant to crack unit at some point -- we -- to.
Patient to a.
For plodding along here the NAB forecast shows some.
Some moderate growth and continuing the ladies economical ways.
When is this country can finally start to create jobs -- people will notice where you can go out and actually.
Choose your job as opposed to applying for anything that's open with so many people are doing today.
Where there are jobs have been created -- private sector has created jobs in the last nine months is just not as many as we.
Would like to see and should piecing.
There was a huge gain in productivity growth last year -- at some point you would expect that companies cannot maintain that and they will have to take on additional workers.
But at this point I do believe that -- and certainly is holding businesses back.
Part of inserted just -- economy they don't know what's going to happen in the -- -- connection here -- -- on the policy front.
How do you plan if you don't know what the tax outlook is housing plan if you don't know what your health care costs -- energy costs Lou regulatory cost maybe.
So in that state of mind this is just freezes don't do anything in terms of her.
So even though Washington has over all the health care system overhaul the financial regulatory system provided -- stimulus package.
Know this may be set in stone at least the laws are passed around books however.
-- still have to write the details of that and that's and that's holding back businesses.
Great good -- to bodies do need to rewrite the rules.
We have 2000 pages of health care legislation -- 300 pages of regulatory reform and then all needs to be interpreted.
And that is in -- we have a lot that the implementation is way down right.
The lone dissenter Tom -- -- just spoke here at the conference and again as you would expect T.
Mentioned that the Fed going out being more interventionist perhaps buying more assets which still announced they might announce that they'll do at the beginning of next month.
And he came out against -- that it could be very risky but what do you think about about what mr.
on a -- say.
Well I think you raise some very legitimate points he basically get a cost benefit analysis and say yes there are some benefits.
In some reduction in long term rates in between thirty basis points.
But is that enough to offset the potential costs.
We look at zero or very low interest rates we seem to be responding the same kind of environment that got us into this mess in the first place.
Second in races seeing potential inflation down the road if you buy another half trillion dollars of assets.
May -- have inflation next couple of years but he certainly could have it down the road.
And -- you are -- some problems for our neighbors oversees.
The dollar's going down.
And that is causing them problems in terms of managing their economy so.
The cost from his point of view and I think he has some very valid points may be seeing the benefits.
When the government started its stimulus programs in the Fed began to be come more interventionist and monetary policy.
He saw this concern among so many people especially in Washington -- Americans would experience inflation they have to pay more money for their goods and services because the dollar would be worth less but.
We haven't seen that in fact whenever we hear fed reports they say well we're not really looking at inflation we're not we're not worried about inflation -- -- not looking at it.
But do you think that there is some underlying inflation already happening do you think their places within the economy where consumers are paying more because of what the government's been doing.
There's been one of the side effects of the Federal Reserve's talk about this new quantitative easing.
Because what he's done is drive up commodity prices we -- -- gold prices rise land prices are rising in the farm bill has.
You -- farm prices -- and and that's going to hit a lot of consumers in the pocketbook higher energy higher food prices.
And some of that will be affecting the lower income individuals the most.
And so that could actually have some.
Negative effects on the economy short term though offset this effort to push interest rates even well.
And there's not a problem of liquidity in this -- There's lots of -- switching around insists that there enough qualified buyers borrowers who want to put that money to work.
After one -- thanks so much for joining us again Tracy from -- Mile high city back to -- in New York.
You better people chat away here -- -- fired up and you gotta wonder.
It seems so obvious and seems so logical and why they're not here in this call all down -- -- any.
Right in the administration says they believe they do have some more room to spend -- if they needed them.
I didn't feel a little cages they're going to be -- in this their -- Will we -- -- you and I don't like you really -- or.
They said senior -- enjoy Denver even though it sounds like that we have here is that not all that.
It -- -- so great Hopkinton you know what seems to me like the obvious.
And -- -- is where this nasty too is a story the obvious because manufacturers are saying show me the money.
You know yesterday you -- construction workers saying show me the money now it's the same story writes is different location.
Exactly -- -- what really makes it very similar.
Story of the fact that we are looking at the construction jobs and how construction unemployment.
And the city and dead state of Illinois and about 30% for manufacturing blocked a lot of jobs in the stated while.
I've got a couple guys joining me here in fact -- that the back at that them.
We're building some incredible.
Things right now lentils are with you where -- guys building over here to give -- that I.
Don't -- -- destruction.
Damn Marlins runs the -- -- ridiculous when we.
At the end of the general manager with that this time huge great -- Idea what you -- -- -- -- that we currently filled out -- -- equipment specifically birdie out battery played out industry.
And so these guys are doing that right now our steel -- there and specifically for -- that -- handling industry friendly and I'll have a few birds.
Why you guys getting that they look at street he says show me even money bet that you got there -- -- at CNN while we're wanna bet that.
We needed more updated -- -- Fed up with the European -- -- Europeans party Asian markets.
Like this robotic welding how much money that look at 51 point three million and how many jobs could decorate their way great little 400 -- Plus the fact that we'll bring -- into the prefect of the.
Treat you with a bad -- question that these guys they'll ask dammit why didn't you guys don't create these jobs that -- I -- I -- potentially these new structured.
-- well -- they've got got there.
-- no other currently they're being made in China and so they have you know competitive advantage with their labor costs -- There automation through the investment that we -- there were proposing we can certainly bring that back the United States and then be more competitive.
The way you look at it if you guys are gonna see the money so far.
-- -- because it pretty well though but they get an idea this company.
These guys own a company that was the really manufacturing real arrows at the turn of the century.
Currently these few fractures.
They live in store forklift battery is quiet on the track you realize that -- -- could potentially lead car isn't the work harder quickly.
Capture what they think you're correct I wanna I wanna have something -- for the -- of the country we started.
-- That's incredible it's over a hundred years old.
All right so you guys truly believe that if you want to see this stimulus you can grow this company and you can compete with companies that are doing this in China exactly true.
And they'll ask you -- the general manager that brought of this project do you think.
That this -- -- dollars are being put to work and then waited they were supposed to -- from what you.
You've experienced well I guess our understanding is that the stimulus was supposed to create jobs here in the United States and we just haven't seen that.
And it's got to be frustrating from the standpoint of you know that you can create jobs.
You could be competitive with other countries and you could advanced technology exactly true that's right.
-- trade -- got weren't -- Bentonville lower right outside of O'Hare airport.
Clearly -- need to get on the ground and Fiat company talk to these guys that are manufacturing.
Goods they're producing good.
Something we can't think too much up in this country right now they're looking for the stimulus dollars one point three million dollars you think it could create about a 150 god at least.
And they're just not they're not -- in the money.
Get to keep in mind -- about the feeder road business that would be able to -- -- -- -- -- -- with a steal all the component parts -- the theater group that would also benefit by those the American market -- fifth.
-- and that that that that yes the point at the end of the date this could affect so many other people in this economy.
Right that's just the multiplier effect that we think that that stimulus.
Money would provide thoughts and our industry.
I think that's the frustrating part about this and I'm -- your -- feel it every day.
-- is this causing quite so we're no longer manufacturing nation we could be.
If the money was funneled properly and all these ancillary jobs could be created it just makes no sense to me.
And I'd be curious -- the -- -- Glenn I think it's good.
Could I ask them if you've seen -- stimulus dollars.
Going to any other manufacturers in the area I think -- -- this obviously speculative pretty things that this money is actually going it's out there billions of dollars.
Well we start looking into this almost a year ago we were told at that point -- -- -- that much money available.
And we were concerned because stimulus money was -- -- -- manufacturing companies like ourselves.
But they told us that they -- the from other -- My understanding is that the state of Illinois every -- somewhere in the area six billion dollars.
And of all that terrible -- with the schools won't do the job.
Hospitals and other things which obviously area and they need and also what -- nothing really went to the industry is charged with the -- Talk stores they represent -- we thought our congressman and everybody gave us to say -- -- stimulus monies available more critical we don't know.
And hey that's gonna keep track and yeah we're gonna keep trying we think that this is a market that we can get it to be competitive so we believe it and we're gonna keep time.
-- -- -- do you have working for you right now powerless and forty.
But at one point you're a 150 employed -- your own fortieth that would freely fashion connected.
That he could beat up your work for everything they have our workforce and -- -- -- -- -- that he would do.
Idea -- the United States -- -- -- manufacturing.
So be a whole -- industry that can be developed right in this country.
It's a fascinating story Tracy and you know my way to compare it to what we're seeing him construction life.
A lot of the guys -- that had the construction company we talked -- yesterday.
Said that they felt that their projects walked out to a lot of the shovel ready project right right those were simply paving project.
-- -- -- My visit it is that people -- have a shovel ready crap that he's gotten tired and keep building next door that the ready to make.
These that the -- steel structures but -- that's not.
In the money it's just makes no sense in -- I'm sure it's more -- for you being out there but it's still fresh sitting here in these stories.
I mean I -- -- -- that mean they got dirty they work.
I was on plants and in fact he's my entire life and that's -- America was built sun and the fact that we're not doing this properly must drive these guys.
And it's -- -- but I gonna walk outside right now I've got to show you that -- -- an entire building outside of the factory there we're in bad shape.
MP it's ready go that they got that one point three million dollar ticket bill that would workers and they could make good.
They didn't think that and then it to the White House -- it may have didn't look like that and that senator -- go wide outbreak is that amen there.
CNN thank you guess they were OK you're terrific too what a great stories to bring.
Does all weeklong actually -- -- -- on such great things and she's gonna keep coming to us with all -- seven Ali's.
Still obvious examples of how our money is being.
Well not spent properly but.
We listened to me the militant Sunni and does he generally you guys because we we have empathy and sympathy with each other with -- businessmen.
It -- 41 points we re on the Fed minute -- I do want to report one thinks you that the moratorium was lifted.
Here we -- -- this -- Obama administration.
And did did -- and -- deep water oil and gas drilling that was imposed after the BP oil disaster in April.
Lifting it a month ahead of schedule.
This a good thing this could create -- the problem is you know how goes this is -- lifted doesn't mean actually.
-- are gonna -- -- have the nerve to drill because well.
Little steps jug you know arms -- on its grab an arms from the administration say it happened that's the right thing.
But we'll see -- create jobs it could create industry I hope they do I hope they go out there and they -- -- again.
Again Dow down 41 points at the and I have all the latest on in minutes in the command at 2 o'clock to stay with us.
It's not -- -- --
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