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One of the foxbusiness.com live I'm Chris cutter Tracy Byrnes of -- had a good weekend thanks for joining us here is we start the the new rule -- -- down on the street and blades start out great and we've done a complete 180 just in the last half hour we were up almost a hundred points.
Money and hit a hundred points up at one point time.
Now we're down almost a hundred points it was almost like literally like that's.
-- off -- cliff but oil prices to made a total reversal oil futures prices clawed about it and looks at the point 7% loss.
Oil prices were up by more than 1% so that pullback as well -- -- were down about 84%.
And Chris is playing -- We -- just your iPhone because this is good this big good news is that we got going on here.
-- here yeah this is the the brand new rule my iPhone application that we have foxbusiness.com.
I eagle the apps that would download the application in a -- It -- -- -- right there on your phone you -- see at the press that this is what you come to this is basically the front page right there as you can see it from -- says would you call it tax law on the phone.
It's basically the averages and then you have all sorts of things you can do here like -- go to video.
And not only when you go to video do you have that -- you also have better.
Well let's -- -- got -- going on Robert -- -- with us.
You got the life stream and -- -- what do you guys not out.
See Robert of -- got to -- and I'm just now getting -- waking I don't have an iPhone by the way.
This is and our executive producers here just -- the streams are trying to figure I'm not a technological brought out things done and we don't concentrate Rafa he's going to be very but I area.
I've got -- -- up there so basically that's I don't hear or not.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Higher or lower so.
It's really cool it's go to the App Store and then download and you have -- -- right and -- -- the application.
So just go to town on this -- but did the weird thing is is that -- -- -- -- started even further back some I'm gone back -- time now.
But what that's the good thing is that -- and I think it's so much stuff that's really important if you can just go back in time and catch it again -- -- his team is if you get back to 1125 and sell your stocks this morning.
If I thought I was everything go back in time it is that this year I thought of all got -- -- your phones executive who's your -- calling so yeah you may want to pick that up yeah welcome.
So again thanks everybody for our two million today.
Tune on your iPhone if you have the gap by the way you don't have -- get it also got -- -- today when asked you.
Are you more bullish on the stock market -- -- -- third quarter earnings results -- -- the last week -- about 40% in the S&P 500.
We've got another 150 companies in the S&P 500 this week but much you've seen are you more bullish or not the incident -- yes the numbers are great no -- -- cost cutting still bottom line.
And a C which is well I think not really earnings of pretty and it's already reflected in the stock market and Robert is here to talk and -- Yeah I know I gotta tell yeah I'm still I'm trying to be upbeat about these numbers.
-- on the bottom line left and right -- we're not seeing a still a load of.
Revenue growth well we're we're seeing some -- like 62% are beating it but it's not.
A lot of growth especially -- compared to a year ago which would you know was not great.
And you're talking about it right now the market's doing its -- -- -- -- the twelve companies in the S impede it reported today four of them were higher as I walked into the studio.
Now should know that a couple of those were 52 week highs VF -- you may not -- that they make North Face and -- of -- and stuff.
There -- 52 week high -- RadioShack.
And at 52 week high as well so.
Some surprising names Masco by the way -- -- make -- cabinetry faucets for homes there were up today on earnings to assistant surprising companies hire.
The headliners though the likes of the Verizon's are lower -- Sales are down and the about the bigger check actually -- in my movers today British act interesting sorted out.
Or better yet it's -- -- typical story they've cut so much they closed enough stores there's one in my town and I don't really know whoever goes in it.
So there's no there's barely anything never noting in a flux capacitor is and that that's the only about the -- RadioShack or write this you know I'm -- trying to change the name to the Shaq to make it sound really cool so I think it's -- radio and -- NRA advocate.
Knowing that there's no radios out there anymore right so they're they're going through this whole process but they are as lean and as mean as they possibly can get if they haven't sold two products they'd have red line and I.
I gonna get to live on your movies but could they possibly be doing well because of the whole do it yourself thing you know auto parts like -- -- And Advance Auto Parts in those companies have done great over the you know the over the last two months not so much but.
When we were down those come out doing great as it was fixed in their cars on the road making a cars last longer being -- doing the same thing with TVs and I know you and I and Tracey -- -- the -- trying to fix -- TV beginning.
Other people wanting to think about also as people we have we know flat panels are actually selling pretty well I mean according makes -- -- -- that and they are saying that demands been really hit in the prices of those have come down I don't even look now that just depresses you can see how that's.
They've come down the past couple years if you've already bought it if you're in the market it's great news.
So you -- all these extra wires and cables and now you RadioShack is great for that forgetting things hooked up you know dvd players T goes whatever you've got going.
The good that what they're also really capitalizing on these wireless people are going in there and buying Allen's you know it's an -- they sell AT&T they've just -- T-Mobile.
They've got sprint -- -- they -- work with Verizon and Sam's clubs the wal -- you know warehouse clubs so they've definitely have a presence and that's where a lot of the growth is coming from right now.
They I will say this though that there are still a lot of people out there that like that personalized small town feel when you walk into place -- There at their -- on in the strip malls and that's pretty much immigration -- -- these places these days yeah you do walking in there is that a little bit of comfort.
I'm sure they'll ask you how you make money off this island cords because that's really the only reason I'm going there.
Rechargeable batteries and the outcome in my brother.
You still RadioShack would really take used to be was when he was an ice please have a radio little portable radio and actually charged -- with a potato.
Using stuff that he got from RadioShack so I was that was so out of my realm that was ridiculous but there -- a lot of geeks out there that's still like to go to RadioShack in.
You know mess around electronic health care.
The real -- -- -- -- -- -- cuts and I went to school and rentals to the extravagance in I guess Robert -- bring is all the -- Robert not was there.
I simply could hurt it doesn't -- also not a loser tied Killen got sent back out at San Antonio Texas eight pat how -- yeah.
Doing great thanks for having me -- what do you make and is earning season thus far good bad ugly ex expected.
Actually I like the earnings so -- -- you brought it up that's Tracy when you talk about the top line.
And the revenue -- and Robert talked about -- 62% of those reporting.
Actually exceeded the revenue target and that's fantastic.
Short term I love this market I think this is great stocks are trading on fundamentals again.
They're actually looking at EPS earnings per share numbers how how stocks have companies are actually beating EPS estimate.
I think that's fantastic.
Long term -- and this goes to that revenue target that you were talking about.
You still -- people spending money talk about RadioShack talk about companies like an Amazon any of these companies.
People need to spend money and what's the bottom line dog but you have to have jobs so longer -- -- cautiously optimistic.
But short term -- love it.
Todd will what do you make about last week there were flat and a good down zero point 2% the SP 500 for the week and Friday we were down we've turned negative today.
Do you think -- even though we might be trading more on fundamentals and emotion do you think it's priced into the market right now that.
We're gonna beat earnings expectations that we might -- -- sales expectations.
-- I'm not so sure that I look at this way Chris.
When we look at the numbers as far as the markets go last week I think there is a little bit of pop reselling if you will.
Looking at the economic indicators coming out this week don't -- -- fourteen -- primary economic indicators being released.
Plus we -- the the new home sales report last week we had -- have become reports three were very weak one was good the existing home sales.
But I think that.
Maybe -- investors are actually looking at those numbers again.
Don't forget this week's a big week for oil we -- we talk about how oil turned around.
And you have the Big Three oil companies reporting earnings this week you're going to hear a lot about how these big oil companies are making more money.
You might even hear a little grumbling about -- when bill -- windfall profits taxes again coming back Capitol Hill.
Next week though we're going to be talking about jobs because you have the -- server labor now firm payroll report coming out next Friday so.
There's donated -- still the underlying thing is looking at earnings so I -- the earnings but don't forward.
Would be a little cautious.
Todd let me ask hasn't been in your notes you had -- said that.
People are trading on fundamentals.
Rather than emotion these days is that what you're seeing -- feel like it's the reverse that people are just follow in the trend they don't even know what -- look at.
Well I'm not so sure about that Tracy -- -- why a year ago when you saw the markets did.
Vibrating as -- I mean it was incredible volatility.
700 points here 500 points there and it was incredible.
That was all based on -- notion investors were actually doing -- then what they wish they would have done years ago door and that 2002 to 2007 bull market.
Now going forward right now short term it is really primarily trading on fundamentals they are looking at earnings what else would you justified you can't justify -- 10% unemployment rate right now.
I'm a lack a -- of stimulus incentives that are going line.
Nobody -- hiring retail numbers aren't.
Really weak I mean we talk about operating cost.
Being low because there's companies just aren't hiring or there's shedding stores -- when you look right now short term they are trading off fundamentals it's the longer term.
Where you're gonna have this problem -- emotion right now I'm not sold that that this is a emotionally charged market.
So is it more of the fundamentals Barak less bad they're getting better that's what we're looking as opposed to.
I just got to follow the market because everybody else is doing it now looking at the numbers and you know what this time last year it was.
You know pathetic this is less pathetic I'm gonna go that.
While OK you partially right without him in the last pathetic how many parents and by the -- -- -- But when I start thinking about the markets right now I have to start -- this is investing -- one.
Remember the whole thing -- treat everything that then -- to stock a price of the stock is based on earnings is based on revenue projections for that company.
You have to remove emotion out of this.
Right now -- you're just looking at -- earnings per share numbers that beats alone that Dow components -- have reported you have ever 90% of actually beat the EPS number over 80% of the S&P 500 companies so that alone is fundamental trading right now.
Will that continue down the wrote I don't know.
And but right now I would say this is a this is a very.
And those who only our lack of emotion trading we're trying to come up with a -- -- -- And I mentioned -- Sir I don't mention all this economic data -- getting this week not nothing bigger than the GDP report that comes out on Thursday.
Say we get this three and a half percent growth that many economists are expecting.
What happens in Q4 2010 when you remove all the stimulus.
-- cash for clunkers -- 8000 dollar first time home -- credits that -- set to moving forward.
And we have two and a half percent were kind of slogging through three and 3% and no one's hiring.
You what happens then it do we have a jobless recovery -- is that really recovery.
While I would hope we even have a recovery at all I mean when you start looking -- gross domestic product in this country.
One thing to always remember it's it is at 70% of GDP in this country.
Comes from the American consumer now the American consumer it doesn't have a job and they don't have the discretionary income and are not spending any money.
That will have a ripple effect -- that would actually trickle down -- to a negative impact for stocks.
Yeah we talk about what did we really haven't talked about as higher gas prices in the last two weeks alone you have prices at the pump has increased eighteen cents.
Every one penny increase takes away 100 million hours from discretionary incomes in this country.
We're looking at one point eight billion dollars it's quite the way evaporated -- right now that people cannot spend with the retailer so when you're looking at that going forward.
-- better start seeing some job creation it is in this country and hopefully some lower oil -- some some some lower gas crisis of people that start spending money again.
So don't or I again I can't try and I wanna be -- negative -- here but going forward I have to start thinking and we better start seeing some job -- -- people spend the money if we're gonna maintain a GDP rate north of two to two and a half percent.
But that actually brings us to a question from a viewer then will you still like this market come January February march next quarter.
After retell holiday season potentially could be dismal again so you know gas prices who knows where they're going -- got.
Particularly in my pocket at the pump I'm not -- into the retailers and still get hammered so what do we look like beginning next year.
Okay well I have to think right now when I start thinking of oil we have oil at north of eighty hours right now.
We have members of OPEC -- over the weekend coming out talking about it production -- when they get together in December so I'm going to think that I'm going to be optimistic about oil prices I would think that oil will start to retreat from this eighty hour hi.
And therefore we -- C Everett Dobson and in prices at the pump were for the American consumer which would be great.
Because obviously I said before that's gonna help discretionary incomes now that will help the markets down the road.
How ever and this is the big however we need to see job growth we cannot continue with -- with half million job first time jobless claims each week right now if that continues we may very well see it double dip recession -- that's the case.
They clearly it's gonna be the bears will be running them on Wall Street and we don't want that happen.
Bottom line is guys and for your viewers I'm thinking I'm cautiously optimistic because of all the stimulus it's been -- and I do think that congress it's gonna come out with some type of extension credit.
What the -- after the tax credit for homebuyers if that's the case that will help -- -- least for the first happen next here -- again I'm gonna.
Maintaining my cautiously optimistic view for the market's going forward at least for the first half of the year.
Do we want how do we want them to continue to like.
You know it's like false stimulus into this market and extending this credit should we just allowed us housing market to do it it's got to do already in get out of the way he.
You know I I gotta tell you Tracy I think -- stinks and that.
Here -- -- it's and it does to me here I am at San Antonio Texas now business week magazine comes out and -- at San Antonio is the number one.
Who worth city in the country we have that the -- economic berth in the country.
White House's aren't selling here you see more -- more -- actually going into the market supplies have actually gone up in San Antonio.
So we're not selling homes at Santonio and you do have job growth that is taken place down here.
Where in the house is being sold around the rest of the country I mean so for me personally I'm thinking I'm trying to be optimistic but when I think about house and I'm not sure that government.
Coming out with these tax credits is really going to do anything.
Because ultimately back home buyers still needs to obtain a mortgage qualifying for mortgage debt in this country right now with a bank.
Typical I mean you need a very high credit score right now.
With a very good track record even obtain a mortgage and I'm not talking about Jumbo mortgages I think when you get to that side of the market that's a whole disaster waiting to happen.
Yeah we just saw seven banks go under this weekend from that very reason the fact that they've -- they've got mortgages on their books right now that you know are all going bad in so many different markets.
And we can argue that are in particular hasn't he hasn't really hit bottom yet -- new York New Jersey -- week we've been pretty impervious to this whole -- as you know -- just texas'.
But I have a lot more to come.
It's obviously they hit it good to Syria.
Thank you thank -- -- managing director -- -- trading getting as of the date on the trading day at hand down 83 points right now.
On the Dow Jones industrial.
I don't like you know I shot question now an -- -- -- about this is it fundamentals or momentum that's moving this market and ever -- -- -- momentum.
That is very bearish little disagreement there out in -- cyber TV land.
-- we take a break we'll be right back.
I love the fact that Fox's dot com -- don't forget I -- apple.
IPod iPhone I -- -- applications go to the App Store.
And download it all right you are.
You 100% Sicilian expect at an -- look -- -- but if I was -- -- -- when you had to be a 100% to say to become a made man if you wouldn't.
So you pilot of that category -- -- woman.
Who won the last remaining in the United States of America and my little nuclear family and it is all of a sudden now have a whole new but not respect for you are here nearly.
So here's a live this story caught my -- this morning because a -- the man -- -- incessantly.
Wasn't prison he was a builder he was went to prison for dumping hazardous -- but I'll wait for the comments and now -- we're gonna that back.
-- -- -- allowed to leave and go home.
What's the use of it but no easy on Democrats yeah he put his foot on Nasr -- -- So we don't eat that they can't even go home he's now on house arrest he's like well -- Obama oh.
Let me back in Britain and we might do much to me goes back to -- -- think and -- -- don't make me laugh if I could name like by people in my family we do this.
So they -- police said.
You're kidding right go home and work it out with your wife so the poor guy actually is probably under worst punishment now alone and has to work out his marital problems but he actually went back to the police station and said please meet me in prison.
Feeding bread -- water I'd prefer that than being home.
Cruel and on -- punishment as I don't think it's in their charter broad terms -- -- -- -- -- great because I tell you I could probably name people who did.
-- prison overcrowding is a problem in Sicily as I'm sure it is.
Here in the states so if you could kill two birds with one -- with that you get to reduce overcrowding in prisons and he did this guy gets punished even more than he would had he had to sit there -- you have the prison in goodfellas.
-- the garlic slicing the -- so and that melts in the butter remember that.
The Sox hit it better to be in prison that's the Haas that our eyes and Sicily kind of got you locked.
Probably it probably wouldn't help your.
You're your health and you wellbeing if you were eating pasta and sauces and garlic and butter like they were doing everyday -- in prison to get her on Anita Vogel joins us right now from -- Fox News Channel.
About the whole.
Situation about wellness and my question is this what are we talking about we talk about wellness programs.
Because when I think about wellness I think it OK just eating right taking -- myself going to the gym getting my exercise throughout the week.
But I'm a part of any wellness program are they really that widespread.
Well -- in corporate America they've been doing it for years but you know you're exactly right when you talk about wellness that is exactly what we're talking about we're talking about.
Things like eating right.
You know losing weight.
Cutting down on your cholesterol your blood pressure going -- a diet stopping smoking I mean these kinds of simple things.
And there are companies that offer incentives.
-- to meet certain goals and we're talking about reduced premiums.
Big companies like Safeway and Johnson & Johnson have been doing this for years and you know a lot of health experts say not only is it.
Healthy for employees to follow this regime.
But it also saves money for instance going back to Johnson & Johnson.
According to one report.
They -- eight and a half million dollars a year over four years.
By asking their employees to meet certain health goals they did and they were able to lower their premiums now the flip side of if they're always -- the flip side is.
There was a very recent report by the Congressional Budget Office that came out this last summer that that and we're not so sure about the savings if it's rather unclear.
How much companies could say.
Well let me ask you this -- what -- it seems like it's hard -- make a benchmark that everybody could start with.
In the end goal from there what defy you have a -- -- problem or something I can't lose weight now live being discriminated against.
Because I I I can't do it as opposed to somebody new.
Is may be overweight because it eating -- dietary habit.
Right and that's exactly right and that's part of what critics are charging they're saying hey look you know.
It's wonderful that a lot of these younger healthy employees are going to be able to reduce their premiums because they can meet these weight goals in these other health goals.
But the older folks here that -- can't do it either because.
Think they're older or they have some kind of chronic or preexisting condition.
And then doesn't that defeat the whole purpose of Health Care Reform anyway -- were supposed to be protecting these people so.
I got there are a lot of critics out there that they that's exactly the case some workers are going to be penalized.
No -- the whole the whole idea here is that wellness is certainly not -- silver bullet.
But it's it's it's wrong way to help and by the way we have major overcrowding at our prisons here so.
Is that -- island.
Everybody this we know exactly the right way to do everything now -- got a question for you about that I love this notion actually of companies.
Getting together and working out get a Chris and I both -- -- and he just -- good.
He's going to be all the time and -- I'm not really sure why because generally when I commanded him I'm all fired up I feel good it's.
So it's good for everyone even -- folks that can't.
-- supposedly can't ever want to do something if you haven't come to work you can potentially do something so why companies offer programs like this.
Well did that yeah -- it's a great idea and you know -- -- example after example where it does seem to work but I also you know you you have to wonder though about those employees that are a little bit older and have those pre existing conditions.
And you know this is part of the debate that's going out and Washington.
There is at least -- there a couple of senators.
-- introduced this idea in some of BS senate bills that are being debated by the idea of how incorporating more wellness.
Into this Health Care Reform legislation.
And you know whether it's offering companies tax incentives.
Or offering ways to it you know have employees to reduce their own health.
Health care premiums I mean these are things that are being batted around so I suppose -- you know we'll wait and see what and happened in the final health care legislation.
Anita Vogel out in LA thanks and -- -- with -- on the road.
Thanks Anita out and I -- I haven't made any of all the talking about wellness programs real quick if I didn't work for a company wants that had a program if he went to the gym.
A certain number of times they can handle it was 200 times -- 150 times.
That you New -- 250 dollars at the end of the year or something like that that didn't happen is it bad.
Corporate -- not to be anything to say they have they file a report gyms like that here in New York, New York sports club Nike eagle on their website and they'll file a report.
Because it's -- electronic now you you've put your little card up there in the BP and so.
They can track how many times you've been the bullet that's a -- -- -- -- -- -- we see that's that's this is exactly the -- I.
How do you make sure that everybody gets credit that he make sure that it's fair for everybody so that you if you people can all participate in all works like ridiculed as a -- as having a great idea like I thought part of at all.
Now since stocks -- move in and most moving to the downside now.
You that you actually field with some market movers and we're gonna talk about a little bit some of -- city upsides and a lot the -- -- -- walking or running.
-- -- -- and -- you don't want to miss that.
I welcome back this don't forget you can see it's on you can email us -- that -- and live at Fox -- -- -- to follow us on Twitter at the end live.
You can also download our podcast on iTunes -- for fox business and we're available on -- as -- -- for fox business and pick up that new.
Act at the iPhone App Store -- Fox Business.
It's very cool to watch on the train wants it and you know very not.
-- your computer are right there's a bunch of stocks moving today -- you know as we've been saying we were up now we're down markets and about 85 points right now.
We've -- about Amerigroup all day the company cut its third quarter earnings outlook and actually withdrew its profit view for the full year this insurer now.
And they're worried about it to an end when they're not really sure how can affect them at the end of the day so they just pretty much at this point pulled back and as a result sucks getting clobbered.
Tellabs is also getting clobbered today.
They reported third quarter revenue that missed expectations now for one thing that revenue down but on other things in this you know they -- environment.
Exactly and forecast sequentially flat fourth quarter sales again not good sign going forward.
Number three I I.
Picked fifth third but it also includes suntrust -- we -- to they come on down think about when he started to dislike some of these banks you know.
Let me know what is -- valuation I guess and actually dancing to -- like that's just kiss of death.
Right fifth thirtieth these regionals now with the -- trust and you had heard and I asked CD's and the Bank of America's so much.
As -- is that he he likes the big -- -- the weighted down good it would any doubt that he downgrade Citi or Bank of America last week it.
Act that was after he thought it did terrific that'll pull back at Wells Fargo to us I have wind with that's it he mountain city -- great -- downgraded and the stock went on a roller coaster ride.
But did not they actually downgrading both to his -- saying neither company is gonna show -- profit -- 2011 if you can believe that.
And I did what did a British -- women talk about it LC -- -- as well that RadioShack first.
The company reported third quarter earnings that mixed expectations by a penny and weak demand.
Believe it or not but the stock is up and again McCain -- the name to Shaq they're trying to make this the sexy.
Cool place to be -- Couple weeks ago they had this bi coastal thing going on they -- a big screens here in the city and then big screens in LA and people could have -- don't talk to each other.
Mean I just don't see it it -- its its net -- the -- ever going to be -- hip place to go I mean the people that have always shot the RadioShack over the last thirty years are like I said.
People like my dad my brother guys that are kind of computer geeks electronic geeks.
Well let me say I understand he had cell phones there that's great but it's it's how -- really I guess -- and that's over the making a living are they really gonna compete with the Verizon stores.
And the T-Mobile stores that we see here -- And I over the -- time they're right they're not very big story CK going there and get a TV like where our -- big monstrosity like best buy so they're not competing in that round you know they're just trying to be the Wilkes keep that local feel about them.
And I could CIT actually was interesting as well you know they extended the expiration date on their deck seats in November 1.
And they also raise interest rates on.
On the series B notes so the stock actually had a nice little bump earlier today -- -- another roller coaster ride but.
Right now is catches my -- because I worry about the small banks out there small retailers out there who are so reliant on this bank to get money.
To make inventory.
This how to question.
Al Lewis is here with Dow Jones did not say that the -- of a man.
Thanks for having and the battle -- -- let me get to town.
You know I -- once in awhile just makes him my boss knows that I am still out there areas looking in writing stuff you wrote a couple of columns on North Dakota no wonder you're back intact.
How much time did you spend out there that's good desire to go you know -- the North Dakota and then the next week New York I think I'm more people.
Flocking here today I sign all of North Dakota -- look the code is now being known for at -- the best state in the country in terms of unemployment has the lowest unemployment hum.
Why is that is that because a lot of farms there why is that is because -- fewer people that there.
Well that's really you know the unemployment rate is a function of two things number of jobs.
The number of people and a number of people in North Dakota has been shrinking.
But there's still a lot of.
Prosperous industry up there you know they've got this huge deposit of oil shale.
-- that needs to be tapping -- got wind energy.
They've got of course agriculture.
Second or third largest campus outside Redmond Washington is in Fargo, North Dakota and playing like 15100 people there so there's a lot going on.
In this very tiny state but there's just not a lot of people there you know and I talked to a guy who couldn't get a job he he he washed out of state university in Utica and here in New York.
And he just looked and so lost unemployment rate.
Bismarck, North Dakota 3.3 percent and he went there and he got off the bus it was 44 below zero.
Any thought to himself what that I just think that the I look at -- got within a couple of -- I'm sure.
The home so well and he's living happily ever after on the -- -- playing as much as I think this is the craziest thing I've ever heard -- -- -- there -- a lot of people out there are at a point where they're willing to do something like this I'm surprised that more people aren't thinking actually yeah I mean I don't think that North Dakota is really Mecca for anything it's weird when you think the North Dakota what do you think of -- nothing you think a lot of guards.
200 yard run coming through the window and -- hotel just outside of Fargo have to have Steve Buscemi getting run through the wood chipper I don't write it but it but you don't actually put people in the wood chipper up there because there's so few people they need to market.
I think that we're gonna Microsoft's -- and -- outlet but that and I must say and he's like high paying jobs or whatever -- that you can go to North Dakota and get a job he can print pretty rattled me they've they've got a lot.
Of industries there that need people.
That was a call center in one of the smaller towns there that they had to close the call center because -- just couldn't find enough people they'll work that.
And he can imagine that we're gonna have to close down our business -- it just aren't enough people.
And you know that's why I went there really chase is so much news and we're talking about the -- and they of the stock markets down.
All day long we hear about Ponzi schemes and and you know bank failures and retailers filing for bankruptcy a.
That's the real estate market for -- no this is happening in North Dakota I couldn't find one bank failure this happen I couldn't find one Ponzi scheme.
I don't know what bankruptcy they're like they've -- that everything is is is going relatively smoothly housing prices in Bismarck action and test the -- they're only five houses in Bismarck.
It's Minnesota it's the -- -- -- -- -- like the bizarre alert if you haven't if you're in this.
-- imagine -- forget and you couldn't get a job.
-- and get on a plane and say I'm gonna move say North Dakota after being in there you know I was in Amarillo Texas okay how.
I was just like him -- only its call button you know but -- yes yes if if you need a job you go where you can find a job I think but you know people -- family attachments.
And now I mean there was a sense when you're out there that you sort of foam off the -- -- I mean definitely but you know what.
You can go up there you can get a job you can buy a house very very cheap you can -- an apartment for less than 500 dollars a month and -- -- nice apartment.
-- you can you can.
You can weather the recession up there.
You know it is the place that is so far away the recession can't get there that's interest -- I would think would be really hard to attract.
-- if that if you Microsoft -- -- a call center.
And almost everybody -- is employed there can be local I would think to be really hard to attract somebody from outside of North Dakota.
-- like come on you know when I was visiting Microsoft's campus there first about the beautiful -- -- got half a former college football coach running their recruiting problem.
They're -- they're recruiting them.
Operations there they have 15100 people that he recruits from all over right I took a guy from Washington DC whom I talked to a guy from India -- -- there.
I talked to a woman.
From Atlanta Georgia could just -- that they all want -- to work for Microsoft not waiting more than just a call center after they've got software development.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- I mean that's actually a -- -- of it but you know they run the financial operations for the hall money 1000 employees you Bill Gates gets his paycheck comes right through Fargo and.
And they have kids up there in -- kids I mean -- they're in the 20s30s and.
And you know even late thirties in -- developing software they're running I teed it running the financial operations of -- -- -- this is the second largest campus there -- -- the whole.
That the whole company and yet these people are like oh yeah I'm gonna I'm gonna take up ice fishing.
That's what I've been meaning to do since I got here and you know it's Coleman it's not that cold and -- all the mosquitoes that -- not so bad.
Yeah but but they're all out at me and if you work at a place like Microsoft in town like Fargo it's like being -- -- college campus it all everybody there it's from somewhere else -- also -- binding together because you sharing his mom experience.
That is Fargo.
And looking up the weather and I had a skate and play hockey -- out there you know that's a problem is is the only scene with ESPN here lately with Steve Phillips.
That same problem as almost laid them to a certain extent because there Bristol Connecticut bank is in the middle knowing it's -- -- -- Hartford.
And you could drive the boss the drive to Europe but still everybody works that he is Ian -- Alan is yes yet.
So -- kind of causes -- some incestuous issues every now and then I wonder if that's gonna happen with.
The people in Fargo is well because and I guarantee that much more conservative in Fargo than they are and in -- you know they've all kinds of people there.
You can -- Connecticut soon.
Moved farther North Dakota well it's fifty degrees there today it's now that band and -- -- cloudy and partly because.
Sarah okay when I was there -- I was.
Between thirty and forty degrees.
I never saw the sun okay I got there -- -- once again left on -- Friday I don't halfway across the state I never saw a sign.
And it's now in its October and it's snowing soundness long value not sound as saying -- -- the -- I want ideal place to find some happy news you know what I write I write so I stuck in itself does not have gone so it's like cash out only have a right about it all the negative -- -- also because that's true I think you -- great stuff no thank you very much.
I want to -- brighten it up by although.
I'm -- certain part of the.
And the next at Miami your dollar deal plugin beautiful -- I think by it was at the beautiful part of the country I really do mosquitoes are really bad in the summertime and does it it's not -- bad is that making it sound you know.
And I think that the people who've gone mad and -- -- adjustment like in a lot and you know.
There's an opportunity there that there isn't everywhere else in the country it's 10% unemployment -- eleven that's yeah.
How list out guns they knew they lack -- -- Columnist.
Flat right -- half -- the culinary thing for scoreboards and yes I am no way.
UCL I think you I'd Dunston -- -- joins me come back and Pakistan and I don't think we need to -- this is their are donating their.
-- and done some ultrasound -- against them.
I welcome back the foxbusiness.com.
Live market sent about 92 points right now.
Don't forget to download that way cool -- on your iPhone for those -- you have an -- and you can watch just pretty much not anywhere in the world and we had a conversation everyday about what to bring.
To the bathroom now it's very easy to bring us that's -- Re appointed even think about that yeah I got two little reading that -- -- you bringing reading material can only be one paragraph on sort of the way it is and I can bring and -- -- you can concentrate on other things that -- got a nice tight grip on.
-- -- And I had the nerve to complain about being -- ever because Jeff Flock has been in the most.
Crazy crazy at weather conditions now -- in Chicago thankfully it's not raining snowing -- Birds aren't falling out of this guy just got certain hotel at that bankers conference protest let's go out there -- All yet.
Ready for the protest that's right Tracy Italian that a lot of bad places I've spent my time and Fargo like at my time and part of -- -- police officers setting up.
The barricades as we speak but.
Ability based gave a protest in nordic aim at this point we don't see anyone -- they came by surprise yesterday.
Protesters showed up on Sunday marched inside the Sheridan.
Began chanting shame on you to the bankers but the bankers would make the point.
Hey these are small and medium size bankers most of them didn't get TARP money most -- -- pan out big bonuses that don't.
Tolerate -- but of course you know city -- bank and the back.
Bank of American.
Those two guys are also members of BA BA so they feel it's appropriate to have a protest here anyway.
Jeff I find it ironic that bomb.
Two of the organizers of this protest our labor unions and I would guess somewhere in the 300000.
Unionized employees have the government to thank for still having their jobs -- General Motors and Chrysler I find that kind of ironic.
Well you know and in fact the F says the F.
You -- service employees union actually organizes this hotel the Sheridan as many as CIU members here and so addition to see protests that takes.
Largely organized by them at a hotel that.
Where there are members are working.
I don't know that -- make any difference but you're absolutely right that you could look at this from multiple different directions the thing is though even the bankers know.
Hey you know we've got a perception problem here but.
They just want to make the point these small bankers these -- middle America guys just got the police there as we speak -- getting ready for.
But at this point.
We have seen too many protests.
Jeff we're expecting to hear from my FTSE chairman Sheila there former house speaker Newt Gingrich I mean what are we expecting to hear from them today.
I think they wanna say you know these guys even say the -- association says regulatory reform is essentially necessary they're on board with the question is what reform visit.
Moves afoot now to perhaps introduce legislation Barney franks talked about it that might even break up the big banks -- that we don't want banks that are too big to fail so we're gonna reduce the size up a lot of people.
Inside here would tell you that's not the way to go because if you get rid of the big banks you essentially get rid of the ability of companies like say -- here even.
-- -- big corporations to do big business because the banks can't.
Do what they needed to do don't have the size the necessary so our people -- breaking up the banks is not.
Best -- even know it could present size they are perhaps too big to fail.
Hi Jeff good seeing you in the riot police -- that's your cue to take -- all right.
Yeah help and that help illustrate do you fight -- good -- -- so good at this guy's got to block we Latvia.
Thanks guys -- -- -- -- Chicago protesting.
The small and the Astros -- -- I -- he's not they you your right.
They knew that stick it out there were others who may or may not be protesting.
These small banks in medium sized banks that are just hanging on by -- you know -- well -- applause right now thinking sir you can see their current round where the protesters coming.
Don't know can't Madden it would have that's the -- -- so they get out there they don't know what's going on.
And companies banks didn't take editing.
It is -- not I just find -- very.
It's an inefficient use of time to protest as a woman who has very lit well I don't know why anyone would have.
-- protest she could be well working and getting right.
Dunston is Q is right now Edwards senior reporter foxbusiness.com the team and our guys yeah I would have had to what you make of what's going -- -- there.
I just wanna say one thing if I can take you guys into the bathroom with me I may never leave seen them.
The -- -- humidity one that yes I would agree with you about -- have I.
Other you know while we're talking about protesting and civic responsibility and all the rest about either of you guys -- -- -- shareholders meeting.
Yes I have ever had and probably have -- a little bit new to business news.
Arm as a business news reporter -- -- a handful of them they're usually pretty sleepy affairs yet.
But you would think with American taxpayers holding huge stakes.
In the Bank of America Citigroup.
AIG meaning this would change -- that's sort of what I wrote about for the web.
Last week I did a story asking the very basic question who's representing -- -- stick Citigroup for example we are 36%.
Governments is a -- holds a 36% stake in Citigroup.
Who represents that share that huge position it's the largest single position of all of Citigroup shares and the question is that the -- Exact answer.
Is the US Treasury Department.
OK that's fine.
But who represented in this away get into more of the sort of these philosophical questions.
Of okay Treasury Department fine but is there anybody in that vast bureaucracy.
Appointed to look out for the interest and if so.
-- -- entry.
-- -- -- -- philosophical and political yes.
Now on the sudden you have.
We've seen so many divergent thoughts and opinions in this country everybody's gonna have a different thought about what should be done so it would soon as the president or whoever it is appoint somebody that's sent a million people -- going to be upset president appointed this person to.
You represent me in these need.
At a Washington independent.
Authority right there isn't an oxymoron for you -- is actually legislation that's been introduced by arm.
Congressman Spencer Bachus and bipartisan looks at legislation everyone agrees that it's the right concept.
But the president would appoint three independent trustees'.
Vick in and of itself a presidential appointee.
Is not independent -- -- political correct and that's the great fears that it hasn't.
As far as we know it doesn't seem to be.
That the administration has stuck its political tentacles.
Into any of these companies some people who -- -- -- argue otherwise I haven't seen any.
Little proof of it myself.
Arm but the fear exists obviously if it's a democratic.
And they have say over 36%.
Of this gigantic international banking company.
Couldn't say for example -- them into voting for.
Positions that fever unions for.
Attack minded juror for the OJ trial -- you can not find someone that does not have it pays a slanted opinion one way and they also have -- that you also to find somebody that's confident because we're talking about somebody who is now that a vote.
For 13 of Islam you know all the decisions that take place -- the at the board as a shareholder level -- -- Have a great ironies here is that you called out to treasury can't really get any statement out of them about how they plan to -- -- any specific sadistic.
Yes we only shares were taking charge of -- there's legislation pending -- all vagaries and -- when it comes down to the very specific and very political issue of CEO pay.
Then the democratic administrations had no qualms about jumping it and I had a he'll call a bunch of experts on this it's a very simply.
Good that -- irony here that the boot -- to have the way to reconcile that conflict the politics again.
Everybody sort of understands well these guys are getting too much they've run these companies into the ground they shouldn't be getting this much money.
It's okay for us to intervene there the -- the public is OK with that.
But I'm a much more sort of obscure and and one being issues that that would affect shareholder meeting.
That's left -- this -- sort of focus on that so they haven't.
Pays much attention to that which brings you back to original question that if more Americans attended these types of of -- were more knowledgeable Bolton about it they're probably be more focus on.
Mike my belief is that as we approach like let's say.
Citigroup's next shareholder meeting is next spring.
If this -- it still has this gigantic share.
I believe this that this issue will come more to the forefront it's sort of laying low right now this legislation has been introduced it's been.
Button sitting in the committee somewhere -- not -- whole lot of attention.
I tell you what I'm you know I've -- in finance and journals and for a long time I'm gone on almost 1415 years now never has politics been so intertwined it.
If in the financial world.
And so I think we're in new it's a whole new world now especially coming shareholder meeting CN used to be people showed up a decade and grumpy yeah they listened and went home they were very -- and there's always get one or two -- -- to get up but I again.
Hey -- we kind of material that's there that you pretty much cookie cutter payers will be a little no wait don't -- do it now does this mean that.
We should just you know.
All -- good we don't usually coliseum yeah president of the book about -- how that's fashion show.
What's the folks would you are both parents how much do we have a stake in R&R and.
Local municipal would have had meetings yet how many people actually attend those meetings locally now -- how many there -- they're awful they're -- -- but.
Do we -- do we not have a responsibility to -- All My Children go to school in Bloomfield New Jersey I have response I make it.
Rarely because I'm so busy yeah -- go here's another situation the American public has a 36% stake.
In it being in Citigroup if you if you if you do the map that something like -- percent stake in AIG group now how will we attend these meetings probably.
Lead nothing to a lefty got proxy statements in the mail from these companies and how what percentage of the American public would take it and throw it right in the -- -- literally as soon as they got like.
I don't know what it is like -- -- value you know what it really throw out exactly iPad now.
A cynic would say the government sort of hopes that this ignorance in -- -- -- Remains so that they can do -- well you hope not you would think that with this level of intervention with the level.
Of -- you know.
Contact that we now have that they're -- people would be paying more attention I sort of doubt it but I hope not the problem is I think -- at the end of the day to shareholder knows.
As much as he gets up and stands on the chair and yells and exchanges he doesn't have much say -- -- -- at the bigger institutional.
Of the -- -- -- at the end of the day and now the government and unfortunately.
People know that and that's why can't I change anytime soon it got to -- on the watch jeopardy that every -- The hole and they'll hope is that bomb bill we can all sit home and watch jeopardy and -- -- -- -- -- here let's say I'm optimistic note this could all become moot.
If these banks payback that is NN -- that's -- -- -- it -- by next spring when he faces around they could be paid well 25 million whatever billion billion and we could be could be right.
And concentrate on your -- -- reporter man thanks for having me on golf -- most.
Every night we're down 91 points -- -- -- take a break yeah I think quite I helmets and we come back that told -- -- -- -- this wrong.
Having things I did get an email that said.
You have to be an NFL -- to get a job after the end of the but the -- Did you read anything else and people all the time they'll want to interview people way Tracy humidity this person.
So that's what it says -- time that's.
-- good news is that you know it's a private prisons being overcrowded they never call my -- really today actually kinda have to do with what's gonna happen tomorrow.
Bomb Activision Blizzard NATO -- and they make videogames com.
The -- DJ hero coming out tomorrow and I think that it's hard you know they got all these Al DJ hero.
You can learn to scratch with the best of them like Lindsay Lohan.
Com and get -- DJ hero AM I wonder how this is gonna do.
Eight CBI's this ticker symbol they have not done very well since the beginning of the -- they missed out on this next leg up you know we have a leg up from march.
And then from July forward we really had that second leg up this completely missed out there right where they were in the beginning of June -- -- you'll just last week we got sales for.
The video games in September very disappointing.
It's -- huge Christmas season for them.
So you've got DJ hero coming up tomorrow you've got band hero featuring Taylor Swift coming out on the third of November and an even -- before Christmas he got guitar -- -- Van -- coming out on the 22 of this -- Only one -- they're pushing these out there Arnold DJ hero might be pretty big there really pump when that out.
You don't think it's gonna -- instant it looks typical -- get you're gonna have to hit that -- little out of the target market you just slightly.
You hit barely you're you right judge you're literally -- immediate tick outside of the at target market.
It doesn't look difficult I -- I'm just questioning the club.
Hot hot does that what you said that -- you did not to keep I had act -- Yeah that looks your fingers you're you're clearly you're not pushing buying all year hit in but and -- is still.
Same thing with the guitar though right in the -- that's great the drums work do you have I would do kids yeah well kids.
We were they were full blown -- well there might be sticking to rid infantry C running abandoned.
Our next guest Betsy richards' act.
Joins us right now director period development -- Catholic university and Betsy I guess a lot of older folks maybe even a little little of the Tracy and I.
Go back -- hole and rethink their careers nowadays aren't there yet they act crazy guy in front patent that -- thank you -- yeah.
Sidestep a call me old.
I'll ask the not a whole.
It's -- I hope not it's certainly not.
So -- this isn't your online university people can come -- can come back to school pretty much get a degree right online but you're saying.
-- 55 plus generation come back.
Are -- starting over or are they furthering their careers they have what are they doing.
-- a little bit about.
And you're right we've seen a huge growth.
-- -- -- Just since 2007.
We hear 1000%.
In the enrollment of 55 plus group.
Sold you know today they're more than then 2200.
Your cap university.
Most other V careers that you're looking at me like I say -- -- the combination.
Sadler coming back and can be a career change so I'm back just to -- What they already had so -- that -- Completed bachelor's degree get a match yes I master's degree too.
I think they're credentials -- result more viable in the work place.
So we're looking mostly at business criminal justice legal studies IT of course.
Always health care.
When you talk about the working population I know we talk about baby boomers retiring and how Social Security won't be able to support them.
If he'd come back a little bit younger it is the working age -- working population growing older is well people before they retire.
I don't you know that's a really excellent question.
Baby boomers unfortunately you're finding that.
They can't retire.
I think this is why the -- that we CES Kaplan University.
Though isn't -- a little bit younger and are looking ahead.
Our thinking to themselves.
Gosh -- may not be able to retire -- in the -- I myself into that boat.
You know I'm I'm thinking at my age I'm looking at retirement.
And I'm thinking to myself I'm not going to be able retire when I'm sixty years old.
Because I'm not gonna happen then it's that I normally wouldn't have -- -- click -- -- years ago.
But let's -- I -- sixty's really young.
Yeah we gonna do at home with sixty besides watching paint dry.
You gotta get out there consent keep your health go fish behind winner -- by.
Sure you go out you re educate yourself you get also are now I can't get -- though I mean people are getting laid off.
And they're what they're good how are they going to hire these people back I mean I hate him.
You know there's a little age discrimination going on here right because we haven't we -- a lot of companies want in this young new blood.
But I think is a misnomer -- what companies are doing is they're laying off.
They're most expensive.
Yet break and then there's those employees may be -- that he -- plus bracket.
But I don't think -- age discrimination so much as it is Kenya or this person.
Yeah they're making top dollar.
And we can get someone or even two people in here who -- -- the exact same thing and it will cost us less.
That's so it's not discrimination so -- as a salary issue.
And I wouldn't recommend for those people who are young maybe getting in -- late forty's in their fifties and realize -- I'm not going to be able to retirement have to do something here for the next twenty years.
What -- you recommended him in terms of maybe changing their careers are certainly working toward maybe getting back in the.
Right you welcome looking career -- -- You know the first Olympic career change -- -- to -- is that they get up the steps are required to break into a new career field.
Which bear -- in cutting back to school.
I think -- -- -- would be a great place to do this if you are already working.
Because you can work your schedule around.
-- your work schedule.
You know that you need to keep a few things in mind.
Kind of build yourself a career and a you need to determine you know you come back and get a degree how much -- and I take you.
Okay if this school is necessary.
How much -- at our cost you an annual or it.
Now the other things that you want to think about what is that you and I do and I tell people this all the time big chase -- and make a list of your skills and knowledge.
Look at what what -- if you have they can be transferred into the -- job.
Which can -- really important a lot of people -- he -- why change careers very unhappy experience.
In that particular young one main topic -- actually have skills it Jean -- we use.
He's he wanted to take a look at what the job is going to entail.
-- a lot of people find Kaplan University what's the website.
-- dot yeah.
Betsy -- directive could about many Kaplan University thanks so much your tips for really great and I I have to tell you my girlfriend is a the university professor and an online university.
And she said that her students run again -- car from them right out of college so all the way retiree she's got everybody gone on.
All ages and she said that she finds clearly the older students are just much more engaging much more serious about it.
And that they are actually coming out and getting jobs or at least getting promoted and so she's seen -- and come out of all the there's no question about that -- -- -- impacted graduate school I was 29 and I was a completely different student and when I was.
Even 24 when I graduated Gallagher I -- I graduated -- 24 by the way I am I went right through -- I think what you did it's much.
You get more.
Out of it I did it I was burned I was -- what.
But we have some big poll results don't -- -- We do and the question was -- you more bullish on the stock market -- see at least we've seen so far about 40% of the S&P 500 companies reporting.
On the yes the numbers look great only 6% so not -- -- -- you -- very -- out -- know -- -- cost -- about 15% so not a lot of people -- I don't know what's -- cost cutting 79%.
-- they get their own.
Mean and then I am not really earnings look at it okay we got about 50% there's so here now it's all -- cutting it almost 80% of you said that which is what we've been saying all along.
They're cutting closet -- -- he was -- under the lights on at some places you have to work by candlelight.
Ben Franklin style.
Saying before that electricity was even invented is back and it's coming -- -- and obviously according to a lot of our viewers.
That was long before you were born and meet people you know it's not blown smoke -- -- idea about what is.
Harris says Tracy you could pass for late twenties easily pick which you could say that I'm not saying you couldn't understand Bruce come on all right.
Welcome you said I was added that demographic right focused are you are a little bit -- that you get older.
And I think it's more that's probably going to be an urban market I would guess that would be my guess all right.
I mean I might be wrong about that and if if I'm wrong let me know that I'm wrong without -- those my thoughts were only down seven points right now.
First -- on the -- -- on the market.
We're already incensed we're gonna move higher even though we started the day in build them up at least ninety points.
On the Dow well above 101000 and in DC you'd see by the -- right there we just came careening lower trying to rebound a little bit right now and we had just know.
-- -- is reporting that senator Nelson expects to extend -- home buyer tax credit later this.
News that's something that's news you can use.
-- and burns we'll see them all think it's any ambulance and.
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