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-- -- Welcome to fox does that come my interest rates -- -- -- Wednesday I'm not saying happy -- we just happy I'm dead but I must say that like having on -- Market is up about fifty points week.
Went up a little bit when Ben Bernanke was speaking earlier consumed just made some comments about the economy really not a whole heck of a lot of movement though we've been hovering around -- pretty much since -- started the day.
Yeah you're right we have nearly got unbelievable news last night after hours CSX very positive than the nets it was an -- on the economy.
Yet in -- blow the doors off their -- last night and that really.
After hours lifted all tech names that continued in Asia.
And then it continued this morning with the NASDAQ up as soon as we get the opening bell means -- -- indeed Dell Microsoft all joining Intel and I.
I actually -- that report more so -- JPMorgan also came out great numbers today saying it -- their credit lawsuits it.
It did Syria and things are getting better Jamie -- -- kind of has always been.
The CEO of JPMorgan always been doing well.
And I don't know I still very skeptical about bank numbers in general but at least the Intel report shows that people are buying manufactures are buying -- again.
Maybe that's it the better tell.
Then the -- would report.
Also on much you know no inflation CPI came out today -- -- -- number that was better than expected just seems like.
Seems like economic data lately just isn't moving the market one way or another doesn't this and they -- -- -- participants there are out there on -- the plane in this market.
Really don't seem to -- that done.
You know -- retail numbers hire a little bit the weekly jobs numbers is worse than expected a little bit you know it doesn't seem that we deal with doesn't seem like any number comes out from the content from the government and we -- all the good that number from an economic perspective.
Look at today I mean premier.
I mean I don't want to downplay it but it's only fifteen points and get some great report -- -- -- JPMorgan right and then I mean that's well yeah I still let you add US and 12100.
Is that there it is that this little.
Straw that breaks the proverbial camel's back may begin greenhouse can tell us -- -- and bring everyone back to the market D'Andrea NASA team.
Badges and OJ back.
Violent act -- evidence I just -- off guard.
Well I'm Ben S&P 500 the number that sets us off to the races I.
Never been a big believer in round numbers I think they're dumb and you know people focus on round numbers -- it sounds nice but in reality.
From a technical love from particularly important standpoint what's the difference between 11991211201.
Not there there -- very little that said those types of numbers tend to make.
Newspaper headlines doubt doubt breaks 111000 -- -- -- and that.
Could lead to.
Some investors coming back into the market but I think if you've been.
Burned over the last year and really over the last ten years around number on the S and he's not necessarily make a difference.
We said maybe one or two days.
Up or down triple digits in the last month I mean we are just treading water here to a -- -- higher.
Well we're going higher at twenty points on the Dow forty points on the Dow the seems to be a little lethargy in the market right now would you agree with that.
I mean volume is his -- down something that we've all spoken about the past but at the same time you know if you if we're talking about the retail investor.
If you have ten dollars a hundred dollars 101000 dollars in the market you don't care -- it goes up.
Twenty point today on a million shares of volume you don't care for goes up when he went today -- -- -- -- -- which is going up.
And every day people continuously log on to their computers check their statements and -- seeing the markets.
Generally higher they're -- their account values generally higher.
That -- clearly the pace of appreciation to your point is slowing down here which is not to be unexpected in in you know.
Typically when a market recovers following recession or a bear market.
You have strong gains in the first year which is exactly what we saw.
Years two years three years for get a little bit more complicated you start getting more normal pieces of appreciation or in some cases you know year long -- back.
So what just happened and we heard Fed Chairman Ben Bernanke speaking today he's pretty much saying -- -- you gonna stay for that extended period.
Did he -- -- raise rates.
To get to economy -- again.
Well -- I've actually been.
-- I find myself on the very interest in position as -- long is known as a longtime -- -- so to speak wearing -- aligned with the fans coming on the inflation in the unemployment outlook.
And I am now coming to somewhat of an inflection point where I actually would like to see the Fed right now hiking the Fed Funds rate is sort of part part seventeen others of -- twenty part story.
Part one is simply altering the language in the Fed's statement and I'm actually in the in the very minority here in thinking that it's probably time for the Fed to.
Change the language and in that statement -- the end of this month.
-- second accomplish everything no.
But it's gonna afford in my opinion -- afford the Fed some flexibility.
Should the economy improve beyond their forecasts over the next couple months and quarters the Fed is currently looking for a fairly benign piece of economic depreciation.
Something I'm not indifferent to -- and broadly subscribe to.
But there is certainly the risk here that the the appreciation in the economy expands beyond that which a lot of people are expecting and by changing the language in April it gives you some -- over the next three to six months to say well wait a second things are going better than we thought let's start to pull back even somewhat.
What do you make of but in some numbers we'll start with them but obviously we've gotten a rash of really good answer for -- over the last 24 hours we -- -- you made -- an interesting point earlier -- an important point earlier which is people are.
To even greater degree -- over the last couple months -- -- to the economic data with the story is now -- -- We are getting better we are getting better slower than perhaps we would like but we are getting better and if you don't think this you know one of the biggest conversations I had with military -- clients around.
The third quarter when the -- situation was really inflaming.
-- and they're drawing attention was at the end of the day Greece is a minor story when you return to when your attention returns to the US you're gonna see an underlying positive.
Earnings and profitability story and that is continuing into this quarter.
Not just accompanies you mentioned from JPMorgan Intel and so one.
But some industrial companies like best and I'll report in which did particularly well at first blush I don't follow the company specifically so if I of offending anybody who follows -- I apologize headline number have a headline numbers and sort of the initial story looked -- to me and I think that's.
As we go through earnings season likely to be the story now again guidance for me is very important here we know and yes and he's been up about 11% or so.
-- since the end of the -- earning season.
That is since the bottom that is the best in truck earnings season appreciation in the S&P and what you've seen.
He's in between earning season the S&P is -- -- done better and better and better.
And during earnings season the -- and he's done worse and worse and worse and we actually declined during January if you remember.
That was during earning season.
That I I'm looking to see that pattern continues over the next couple.
Weeks -- tell the people that have missed this recent rally could they miss it there's a lot of people on the sidelines you telling me get back then it's over.
Slow and steady wins the race kind of thing -- -- average your way back to this party.
Well again as I always say it's impossible to get sort of a blanket piece of advice because everybody's financial situation is a guy yeah I know that's the appropriate thing for -- But I played -- Late -- image ignoring any sort of near term fluctuations if it really comes down -- your age and your income.
Always sort of your financial wherewithal so to speak if you're on the younger side of things.
Who cares if the market goes down five or 10% you know the -- decline that we saw is.
Somewhat unique although certainly it's happened twice -- three -- expecting another decline.
I'm saying that years two through four after an equity market gain akin to the one we saw gets more complicated more difficult.
And so people who are thinking that he -- he's going to be up 152025%.
This year next year than they're sorely mistaken history bears this out.
But that said dollar cost averaging into the market over time if you have the financial ability to do so.
He is in the long run -- winning proposition although certainly the recent period suggests otherwise I still believe we are going to enter a period.
Maybe not today tomorrow -- the next day but 35 years from now we will begin a period in which equities will out perform again.
Even with that said now we've had this -- we've had huge runs in some sectors banking being one of them.
Are you looking to rotate out of certain sectors and rotate into other sectors from an equity standpoint simply because -- we know it's going to be -- over the next three or four years yeah.
I mean if I mean again it depends where your exposures but the sectors that have led to thus far are leaving for -- reason financials industrials consumer discretionary they are.
Not surprisingly if you were to have an economic rebound going to be the companies that that.
Lead the charge now for me and I was just talking at the scene of the day just you know coming into the year consumer discretionary was not my favorite sector but clearly the turn in the consumer has been a little bit more pronounced.
Then I a lot of other people would have expected.
Now when you taking.
Consideration the cost cutting the low levels of inventories within the retail sector.
They benefit to an even greater degree you don't need to have the same turn on the top line the bottom line can benefit to an even greater degree that's what you're seeing now for me.
A sector of mine that is the favorite event that is one of my favorites is a tech sector which has -- and I think certainly if you are lucky enough.
Work sort of I -- them.
Whatever the right word is for if you had the foresight to pile into.
Industrials financials and discretionary taking some money out of sectors that are up 6070 a 100% off the lows and rotating that -- to perhaps materials -- some staples to give yourself some stability.
It's never a losing strategy if.
Bentsen then the entry in math so good to have you with us chief economic strategist at military back.
-- -- being here thank you dampens our report every day and the headline is generally music related what today's action I -- I reached a new low this morning surpassing even the Olivia Newton-John and I was trying to -- the -- how this morning was Demi Lovato.
-- -- Matt.
And I don't I don't know it is well -- -- -- so far so great which I believe -- -- -- -- -- Great -- and from noted that the you know every time I say military Beckel I can think it was big tailback who but it was you know -- -- Vegas.
-- you do tell what is the actor who played no shuffles on Alice remember.
But they could break.
I just learned from.
-- grants and then.
-- -- -- foxbusiness.com.
Live Cotter and burdens we are now all about point.
Hundredths of a point below where we will start of the shows the -- isn't -- we better turn this thing around the sickest migrants again guys.
It's hey let's go out -- bill Missouri right now our own Jeff Flock is standing by a plan.
It used to be known as the floor and -- -- company not too many people familiar with Ford charcoal their Jeff but everybody is familiar with what they turned out to be aren't there.
Absolutely maybe you heard of -- spurred brick cats and he cannot tell you there's not too many companies out there that at 80% of the market but that's just what it is and we're gonna show except maybe you've never seen before how they make brick paths.
Here's were all start maybe -- goes past me and you're able to see that.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- A king spurred -- -- they -- look at this plant.
What I CNN Eric at least it -- tanks here this is part of what makes up the -- for -- cat right.
Yes so in addition to that -- that -- -- talking about this is where we house coal.
As one of the promise you'll please as well what -- -- -- is Cole and in fact maybe I don't look here bought -- this.
Yeah and you know -- this is dirty right here I will say that's a piece of dirty coal but I'm amazed how clean -- processes.
-- and in that in the country.
Likely didn't start out that we have some pretty good history of working and historical plan has been known around the authority but we're pretty proud of how we've evolved and we've got a lot of good things to control our -- And that's collection and that's a good place to work.
Excellent let's walk in -- see some more that these are the but the -- -- tanks which house plus some of the raw materials Eric tell me again what what makes up eight.
-- -- -- -- Looking rhetorical but that's actually mainly woods chart we saw yet with -- cold yet the coal.
We do use some minerals and there and then basically something to behind it all together series cornstarch as a binder and -- -- -- they have maybe take number two that's they just -- some -- -- of the that I just thought Amanda looks.
That is correct.
Any idea how many quick -- -- here to helmet hit turnaround in a day -- year.
Agree we and -- Probably doing anything.
-- -- -- -- then we get my.
On Fox Business guys we will see itself.
The way I'm here because I want I want you might get singed my hands on some.
-- -- -- -- -- A pair of what's happening so I can -- -- ground -- thinning hair but this is.
-- that we have about a rotating president.
-- -- -- -- -- -- I'll let Eric talk about that but these are coming up directly upon because -- -- -- -- -- the -- Later still relatively warm like a well they only.
Let me let me grab one -- -- when an -- I want it I want you to come down your show.
Rick that's this year right yes that is correct what makes them have.
We can't we actually looked dead redesigning the shaved and the point to -- so you can see here there's some longer and deeper routes which make this -- Whenever we change the formula which -- we -- more about what they -- out there we actually were able to keep not only like that.
I've learned just as long as we always have -- and even.
Want me back out if -- can't forget about I don't know why -- we can do.
A lot and that -- -- there is what makes that thing up.
-- what's make what makes the thing different about actually help the life because the mortgages -- -- blocks.
You get to never got the acting like.
Incredible the kings for charcoal brick -- talk about the history.
And she was talking about earlier Henry Ford back in the day.
They had some wood scraps that came from the Ford manufacturing process.
And they say they -- We should start to recycle and this is like recycling.
Back before it was cool -- I've actually had some very proud heritage of recycling and and report being Britney wanna know what to do with it -- -- thinking -- it -- merely keeps cheat on.
Like he'll be -- fit but actually I'm very proud of that so we've actually since the twenties -- -- you would wait and converted to a premium consumer product.
And and it's an enormous amount.
He started just making regular charcoal I don't know -- Tracy Merrimack know something about this New Jersey girl that she is.
My -- he's taking his -- pits in the pine barons a New Jersey when I was a kid but -- made actual charcoal but you think you've got some better than real -- -- burns cleaner.
-- -- -- Constantly so that you don't -- -- Yeah exactly so we have -- super cat is an.
Optimize process to give you the same quality day in and day out so wherever in the US -- buying -- -- your product you know you're getting the same great body you've always gotten and are gonna have that great experience with.
You know get your family friends together for good barbecue night.
He's practical later at the break -- one of the other and port that was -- on both.
Yeah that's great stuff they -- either.
I'd say it says kiss my grits there ever been to -- a charcoal.
-- New Jersey I.
I don't I think I would love to go and I can't say that I have executives -- this -- those -- things I suppose this experience before that I.
I'll take you there next time -- in town.
Yeah things like babies so my step is seen in Slotnick who knows sure couples was -- got -- kiss my -- thing he -- round.
Big -- coal paid it's one in the same right tonight.
Mean you know now all you need is to fire up those goals and -- that -- on there and you get -- paging.
The sort of Kristen Benz right now talented blonde joining us -- you're not in studio though Chris that out.
I don't get into trouble a lot of errors I have to -- -- hand on -- -- anything good for you you don't want a lot of people are getting their shot -- here lately and he got retail numbers earlier today -- -- -- you know a series of retail numbers over the last couple weeks and they're all coming in fairly positive.
Are you surprise is this what you expected to get -- -- a series of readings.
Well you know it's not surprising there's been so much pent up demand and look at how bad these numbers were this time last year so.
-- kind of know where to go but up but you know it's really great to hear and people really want to get out there.
And start spending which is nice I think what's interesting though -- is that -- -- behind and actually do fairly well and we're seeing products sell at full price not discount.
So that it's got to say something about the sentiment out there I'm willing and not -- I wanna go out there -- gonna pay full price.
What exactly -- point it's all about value and when I say that it doesn't necessarily mean discounters which.
Obviously are still being teen market share I mean if you look at.
Arab without to the company -- you know that I love him in teen -- it it's still maintaining their margins it's still crossing out their purses.
An Abercrombie Fitch which is still struggling and -- I and my opinion is a very overvalued stock but.
On the high -- if you're talking about luxury and look at those retail same store sales numbers that came out last month.
Saks Nordstrom Al inmates at a later time and I can't -- that he -- with amazing numbers yesterday so on the high end.
You know we are coming back which is great but.
-- three brands it's really gonna take some time for them to come back full force.
You know they just had margin erosion and it's really gonna take a while people want.
And we had a taste for luxury we haven't been able to pursue that and now slowly.
Will be able to it to be that which is great.
-- is this a stock pickers market leads to a retail stocks because obviously had -- close -- and Abercrombie & Fitch does this say the basic sector.
Of retail -- doing great one is not.
Is there one particular segment of the market that's really doing poorly -- is it just a matter of finding the one that's operating well.
You know it's a great -- and Chris and thank you.
It's warm retail you know all these stocks are really writing a lot of 52 week highs here and this actor.
Has this been up on a huge upswing lately but -- means an analyst it's becoming more of a market of stocks.
-- and you really need to pick your spots here so we'll look at -- I think that was on yourself letting this summer talking about outlets -- the turnaround.
They just reported amazing numbers they're coming back.
You know I love -- out theaters here I love rock warring hair.
Crocs is coming back you might wanna pay attention to that why are they coming back Princeton why is -- coming back the -- wearing -- -- nurse no one's wearing -- And you know like keep your eyes peeled -- diversified themselves into a lot of different types of footwear not just flip flops.
Com and they have an amazing kind of creepy.
Ad campaign account -- getting a lot of attention it's kind of freaking me out but it's also on gaining a little bit of attention -- there's I would just take a look at that -- the -- numbers yes and I was saying you know they have slippers and things in the kids are still -- him they still love them tablets though boggles my mind who I want.
I hope here and there.
Who sound yeah surprise.
You'd be surprised for a while it was you know your mom or your mom's mom or you know -- Antony really lost their way they were very from B.
They were even worse than classic and they just it was explain -- Andy really overhauled their products they're fits their merchandising if you go in the stores -- -- back in December and -- caught my eye.
And this store looks amazing and that stock is reacting in kind so bear relieved there on the heels of a turnaround I think you're really starting to see the look of that happening right now on the source.
Anything you think overvalued right now maybe stay away from maybe they've had as usual on Amazon continues to have a big run.
On some of these -- retailers like buckle and what -- scenario is that he's been out there.
-- he's maybe.
I somebody's about to take a step back.
Com I think a lot of stocks the Smart money out there's gonna start taking money off the table and really start scrutinizing these stocks because you just can't get lifted.
You know only for so long in these numbers these hot numbers are gonna start to get increasingly more difficult and so you know I feel about Abercrombie.
They're struggling you can't that stock just on solely international numbers if you want to do that look at a company like gas.
Who repeatedly just keeps crashing it.
Domestically and internationally -- continue to love them I love True Religion.
You know they're some overvalued stocks out there I definitely am not a fan of -- I'm here right now.
Canada I didn't say girl and we have to run on the -- standstill and I'll -- if I -- I admit I Wear warm Augustine sort today.
Did they have these kids that work in the stores and -- actually helpful.
This so there's so yeah we hoc video and they should be in the form census and they know what they're talking about -- these other stores where you walk -- and they just like look at themselves and here.
She got to believe -- and I haven't heard on right there's that.
But you know as a much lower.
Not lower help me different environment that Nordstrom's and we're north and is all about their salesforce.
Maybe that's it's helping -- Up to is that they actually had these kids that know what they're talking about.
What I'll let you know putting the money in the value and your employees and -- on the same way to take a look at that and -- staff knowledgeable Smart young again.
Thought that we're gonna get Chris that necklace go to buckled and create a necklace in the bogus sales actually this is -- -- Eden and I -- get to Syria letting -- and I think the fact that.
Kind of bounce president's out -- gone -- Phoenix.
Retail between Manhattan tell us her heart attack on -- -- it and -- -- just talk -- -- -- this afternoon and so is the first show we've done since then -- home opener for the Yankees opening up Yankee Stadium all players in their rings in the World Series.
Last year you may or may not know how I feel about the Yankee organization.
I think Abbas -- Mike -- you really set if I talk about -- -- just leave it that.
Not very -- not glowing.
And I don't you go to work and sports are numbered years many of them here in in New York in again -- just -- -- that.
And -- the organization.
Sleep -- -- that what I won't.
What what the Yankees did you know that they had a lot I don't know did.
They are they're called the evil empire for -- reason they really believe they are a lot much better than any other organizations exports -- what's on the face of the planet.
They just really have a high opinion of themselves and therefore you are pretty much meaningless -- like a little cockroach.
Running through the locker room when -- they're trying to do your job.
Anyways so the Yankees got their World Series rings yesterday and I thought it was a very classy move -- -- that silly.
Who is now the DH for the angels and the Yankees were playing he's the reigning World Series MVP also got his ring and they kind of messed with and they -- -- out there -- -- to the fans got a huge ovation guys still of course a very popular Yankee.
For a number of years and not -- you to put it -- ring in his ring holder you open it up and it was just ten ring in the it was just joke and -- -- the real thing is kind of funny.
-- that so we always had a good sense of humor so I that was a class move.
To have him come out and salute the crowd in his angels uniform and the dog and a big hug -- on the -- so nice moving congratulates the yanks for world champion.
It's excuse my parents.
Why did they get rid of him.
All know it's just that you can't afford to pay a guy a guy gets older.
And you -- look at your team and you can't afford to pay when guys are not a money when you're paying a lot of other players on a team like even the Yankees due date and yankees ahead and say.
Look -- is -- commanders with money we can afford to pay him that we need to get younger we've put a young guy out there makes less money -- got a potential for the future in left field.
So we'll take Matsu yeah that's -- -- a DH now.
Simply the outfield as well so they hated having these formats that we as their DH the -- has the better fit for him right now playing in Los answer but based there is right there that -- -- -- -- The angels were able to afford him as much but yet -- looked at their overall roster and said you know what we could use a guy like Matsui we could use is bad and we can afford to pay any little more than the Yankees are willing to pay him right now.
-- -- his nickname and had a great career in Japan before coming to the states and so long and prosper and.
And one more question why that's -- Just nicknamed mean you know it's it's our clients still and I will bet you -- -- -- Philip between them and and yelling screaming into.
Now that's what that's what he's -- it's about that.
The bill does sometimes -- Baghdad.
Five points higher than we were only started to show that Connor is turning it around must've been the talented -- action wasn't my my -- acknowledging the Yankees.
As doing something classy act that's was Iranian sad -- migrants are probably -- not the most -- yeah I'll do later -- what's moving this market they'll five point tires as he started 55 points higher on the day.
-- to be -- leaders moving the market today JPMorgan Chase and Intel wouldn't we alluded to both of them earlier they greet blockbuster earnings JPMorgan first quarter earnings rose larger than expected 55%.
On a 30% credit loss provision dropped and that actually I think is -- -- Point there that -- not as much credit defaults and seen some mortgage.
Other banks moved as well -- go out of the banks moving and also Intel now up.
And coming up for -- close of 4% also moved the tech sector and you say it's a -- tech sector just took off you know Intel again you're Dow leader first quarter profit nearly quadrupled.
And it just -- -- -- you can basically do its best quarter history.
Not to mention that great comments from the chief executive.
Plot -- leaning saying that they plan -- roll out new chips the future looks sunny I got to Wear shades all that -- itself.
Mole hole mobile chips are huge and then kind of bullishness coming out of mall -- -- -- today Tellabs also -- this is like tech day.
Telecommunications service provider Tellabs had 52 week high it operates through -- -- -- But -- and other services UBS raised them -- -- buy from neutral so the stock moved up 5% today.
Cuban -- -- we talked about this earlier on Barney actually it was one -- Charles pains movers.
Reported fiscal second quarter revenue that topped Wall Street expectations again semiconductor assembly maker equipment.
Issued a bullish -- quarter report and that's all you need it every ounce of them for the outlook -- -- in with the guidance is on the eastern imports and that was enough to handguns move -- up 18%.
And your big -- today is dallas' -- of America -- the US real care said it would buy doubts as corporate America.
-- at a whopping percent premium on the stock.
Knots at 111025.
Cents a share they're getting for this huge huge premium deal -- -- activity in the old.
Biotech world let's find out what.
Has to say about his stop -- joins us right now on manager of counterpoint select fund and president and she -- investment officer -- -- canals.
And -- he's -- San Francisco.
-- -- welcome -- this job.
That's great debater who were in Oakland California and externally that -- you don't want to make that mistake I know it's it's like -- -- from Minneapolis when you're really in Saint Paul you know you make sure you keep those separated right and since your argument enters your arm or merger of two wars and I had.
-- -- -- -- -- -- that's the real that's the real -- spending.
You don't want to get in years specific -- here call in general first though what do you make of volatile market action were up sixty points today.
-- still light volume -- the news seems to be pretty darn good that we're getting lately.
Given this is great actually end particularly in -- tech sector which is where you expected to begin that retell your primary generally -- really come back strongly to and so.
You know that doesn't predominant trend in the news or in the -- fundamentals that is is -- and hopefully this will translate to.
You like to tech sector it seems -- -- of your picks you got -- come and Cisco on your list want tell us why.
You know -- only areas I think tech is that the bigger -- I'm.
Really really strong -- companies spend their selling evaluations that are similar cheaper than most of the rest of the market.
Gonna Qualcomm is stuck with little bit out of me and I -- fallen -- insurance companies.
Com because that's when you can buy something really good -- pretty cheap price and -- they gave Rosie guidance in December and then they disappoint industry.
In on January and -- sold off -- pretty dramatically.
And it started to.
-- supporting them but us.
You know if you think the the trend in wireless communications and increasing complexity and sophistication and devices that you don't -- Features to -- to iphones to our defense.
-- these devices certain growth and Smartphones and Smart device technology.
Paul I was in the senate rule that they -- predominant none of the intellectual property three cheetah makes three G possible.
They have a lot of intellectual property and torching them over 111000 patents.
So they're right in the middle of the highway.
This -- trend that we see going on.
And they both make chips and they click royalties so whether somebody dies or when -- an iPhone.
Whatever mart denies you're buying you're you're -- -- -- -- getting paid on that.
So he likes it -- is well on -- which also like Blackstone Blackstone Group to getting in the financial salutes and about how -- JPMorgan did in a lot of their revenues on the trading side.
How is Blackstone poised to really -- the benefits in this recovery moving forward.
Three -- it's actually you know Blackstone is perceived as that.
Poster -- equity firm you know they took themselves public at the top blew the private IP -- 2007.
Bigger target of their time was actually perfect.
The states he starts to close to 37 dollars a share.
-- -- less than four dollars a share and never did on nine.
Because of all the concerns analysts -- been -- pretty bad she didn't do a lot of really bad deals they're very very Smart people as we look at what's going on look at deleveraging.
We think -- we're going to be our industry hired some good assets -- prices.
And company is the Blackstone Group Goldman Sachs Berkshire Hathaway companies are sitting on a lot of -- -- to wanna capital.
And also have the intellectual smarts to make good deals and -- -- shown themselves to be -- you're -- true this is actually a really good time to -- in private equity -- -- at two years ago when there's too much money chasing too few good deals and now capitalists still tight and there's actually a lot of good assets for sale.
So that's one part of their business which is incredibly incredibly equity -- has.
They have a very good asset management business over a hundred billion dollars still the leading -- the funds company that's doing great.
And three is they haven't in any advisory business -- we expect to see a lot of them in the business so you get all down in one nice Smart well capitalized package.
Comfort down ten times next year's earnings -- -- -- a lot of leverage on the earnings side.
She writes is a great deal all right so tell us now why go out to Israel is held him -- Up pharmaceutical.
Is a nice little addition to your list here is -- because -- health care.
Yeah I -- certain there's no way you look at you know rent payments -- Winston who were the winners and losers we think.
There's some of the concern has been no data on arms and let's say pharma companies in general but you don't want a big drugs that are coming out of -- -- it is the leading.
Generics manufacturer and world.
And so they can benefit from only drugs coming out and added benefit from the pushed towards lower health care costs.
-- and companies aren't about fourteen times earnings.
And so it's a cheap it's -- it's relatively cheap it's the same prices the market are better at double digit growth like all these companies that I shouldn't have.
-- getting better growth in the market.
After a better evaluation in the market in an area where there should be a very very strong tail winds.
And so that's certainly like it and they're executing their firing on all eight cylinders right now.
Call from -- town manager the counterpoint select funny is also the chief investment off surgery in those empty for thanks go out.
Operator we'll do it again next time call mills joining us there that we get a break but what is the best places to work.
This year but come on -- hourly employees and if your mother -- night and he can't play.
It's my resolve and.
-- -- -- business dot com live trees parents can scatter any mother that works is part of this little secret.
Underground club we all unite because we all feel inadequate because we just you can never do -- can't do at all.
-- Chile Working Mother Magazine it's up to speed up at least the best places try and break and help us out during the day Jennifer Owens senior director editorial section.
Initiatives for working mother is here to tell us.
The best places where now -- strictly talking about hourly employees here yes we are actually right now working on our 25 annual hundred best companies for working mothers which is traditionally been kind of a white collar.
We decided this year to look kind of at the other end of the -- spectrum and look at companies that are serving those who are paid hourly.
The best in the -- with an offering at the same things.
Really that the white collar workers get which is flexibility.
Child care training.
But they all have a different slightly different.
Cast to them than they do at the white collar level.
I imagine there there are big differences in things like like the benefits because.
Many hourly workers don't get benefits it's like people item is hourly workers are -- -- and whatnot most white collar jobs.
We'll have the similar benefits similar -- -- -- wide spectrum in the hourly job.
It is a wide spectrum were predominantly looking at my hourly workers were kind of at the lower -- -- you know where we're looking at everyone.
But what we're really concentrating on our lake and I'm training and development where it involves even English as a second language TE -- Training and development just job skills life skills and and which is a little different that we're talking training and development in the hundred best which is about.
Becoming the next CEO yeah you know -- here OK so that being said who -- the list.
Our winners are this year this our first year she's a very great companies to step up and take.
Like 300 question application and reveal -- us what they're doing so it's CC LC which is a -- Pre schools and daycare centers.
McDonald's USA in.
Sit -- so.
And I university New Mexico hospitals and University of Wisconsin hospitals and clinics so really wouldn't.
Based on that -- the obviously you have to live in New Mexico where you'd have to live -- -- it was -- do enjoy coupled with McDonald's and -- you can pretty much -- tool for those companies it anywhere -- anywhere anywhere yeah where.
With McDonald's were talking about the employees that work directly for them but -- still something like 99000.
-- And there are not exempt level is something like 90% of their employee base is not -- nowadays -- you directly from the dollars and does that translate to the franchise level because you know it influences how pretty they look to -- mean you know -- -- central's open to influence how they do their own policies yes they have a pretty good program from my understanding of start an hourly guys -- -- it takes orders that the -- and all the way up to helping.
He or she acquire their own franchise -- they -- -- and also their own -- headquartered leadership it's something like 70% of their leadership comes from started out at the hourly rates they -- very much into.
Start here come on it.
Now I know you just are -- a dead -- this year I guess yeah the hourly perspective but.
Were you able to find that over the last couple years companies are spending more spending less resources in terms of helping out the hourly employee whether it's.
-- retention training benefits I'm not sure how far you went back.
-- figure out what -- yeah did you cutting -- yeah clearly spending more in this area.
I think what we don't know the data to -- first year but what we do know is that they are.
There's just thought that oh you're already working part time -- have flexibility you know it.
But really those jobs -- some of the most in flexible because that's your shift after shift that she -- you can't lose it you can't is that you can't move it.
Did they give a couple of elect Mary on Sodexo who are allowed -- -- from employees treat shifts.
Two pound bid on shifts that flexibility and what happens it's just like what happens at the white collar jobs.
Turnover goes down you know yelling -- treat somebody once and then they stay and they have loyalty to your company that directly translates your bottom line.
Jennifer -- just -- overall you know you're.
With the working mother you must hear from your readers what are you hearing from them is are things getting better are they getting worse our mothers just as stressed out as ever -- myself -- I am who I am that I am completely sandy had a zest out Working Mother Magazine.
And that hasn't changed in 25 years to -- is kinda mutate but you know well -- I think one in -- thinks that we're seeing is that there's always flexibility to -- benefit that you can give.
If it engenders loyalty it -- productivity.
Let me tell you how I can get the job done and and judge -- -- what's accomplished its cheap if I can't give you race.
I can give you flexibility and so -- -- he's actually not people feared that that would be something they take away but it's not leaving.
That's that you know breezes are stagnant it's like the lowest amount of -- ever in -- million years of employees.
There are -- -- on things like certain cash benefits like adoption assistance things that I would have to write the check is an -- those have seen some bounce back.
But in other areas.
They're not there and at least our companies I live in a bubble of a hundred best companies that I care about what they're doing.
Some lenders that have come out as we gotta have you back and I -- in November in the army are October oh my goodness -- crazy side.
Our our event while we celebrate them as of November but if you have to bridge -- -- -- -- He's free to -- -- thought that.
Please guys on our web site -- in the -- Sunday that's it for Jennifer -- senior director editorial -- and this is for working mother and when you come out with here you know you're here relative magazine lazy bachelor thing.
I've got and that's that would be perfectly we'll have somebody on -- that happen.
They were caught your -- trades but I live printed it out.
The -- -- -- -- today nice you ask me what's the big book.
Even thought about pigs these last couple days so much if you're gonna just keep would be in poor -- -- right but this is the congressional pig book summary.
Put out by Citizens Against Government Waste which.
Tom -- there.
Guy runs the whole thing is going to be on scoreboard later tonight to talk all about it.
But with a book does indeed tell all the waste in the government now this is a -- in the salaries even a waste of paper yes -- -- 151000 pages of stuff that they spend.
And we spend exorbitant amount of money on just.
Unnecessary unknown stuff so many anonymous projects and -- that.
How projects put through that are anonymous does no one -- step up to the -- and take credit for them.
I know what you're talking about.
This started actually ten years ago and it's has just gotten progressively -- so when it started back in 1991 there were only.
Projects worth three billion dollars yeah I guess it sounds like a lot of money back and but we -- I -- would talk about sixty billion dollars just from the defense.
Projects alone now.
The numbers are just getting bigger bigger and you got -- -- -- -- yet on the website and check it out the bigs big huge numbers of government waste and the book.
Details of forty.
Now I guess they determine what constitutes government waste and what does not -- they just put -- -- and then let you determine as well as wasteful and what they are just listing all these projects -- -- anything that has nine zeros after it isn't money that question.
Okay yeah I got a question maybe a dozen or so against wasteful doesn't like some of the economy some of -- -- -- we spent money on you know the opera house in New York.
I'm museums in DC here's some of the things that I found were interesting.
Four point four million for wood utilization always -- You gotta you -- what you just throwing wood on the fire early as -- -- Allison would not known what what is being utilized for me at a decent reason for that.
Has not -- the Boy Scouts.
Forensics and they make -- I -- better -- -- about not -- part ideologue and just.
The numbers are huge check it out it's on the website it's C eight GW dot com and here.
-- -- -- -- -- -- And certainly watch scoreboard later tonight as they are gonna go into -- he's -- a pig book hey speaking of waste let people think that corporate jets are a waste others do not went up the -- -- and we come back.
On a very interesting story involving corporate -- Welcome back about business dot com live and our -- -- about Alice.
It's a big -- and if you've seen it you know what it is you should -- in and tell at this -- -- -- a -- beautiful one here.
Does not know what what about which makes Chris and I.
Well old ten years -- was on 1976 in 1985 -- -- -- we mention this because we had -- house from -- tape back into the top of the show and I said -- and I -- tea bag every time we have -- on I think could dictate act.
Who's the actor who played -- -- -- who is a short order look at the diner where Alice what did you hit the balancing.
Eat and I know I had over how can I hit similar my kids it's and I said just I would say -- -- -- and then that knowing there was.
I'm Bob Sanders here's is not close to Santa she tells story about a -- -- actually paid not to fly as corporate jet you gotta be kidding me.
Yet when the here's the thing he's getting paid to not not travel on the corporate jet he's getting paid to travel last.
-- on the corporate -- And they're not that we're about his corporate travels here with -- about the amount of personal travel but he's been doing on the corporate jets so.
Here's what's happening -- Michael -- he's the head of Abercrombie & Fitch we are you doing well.
Well you know.
The long term performance the company's not doing -- and by the way over the past year that stock prices doubled.
I'll bet he's been at the company since 1992 you know he's widely seen as the artistic director the guy.
Who completely changed to this place around to the point where you know people are proud of these bags of naked people on.
But it's been pretty effective.
And and he's widely credited for the success some of the -- However he has been using the corporate -- for personal travel in what some are referring to as access.
So the company has announced in in an SEC filing that they -- -- Michael Jeffries four million dollars to cut back his personal travel on the corporate jet.
To 200000 dollars a year 200000 dollars a year for personal travel company.
There's not there's not listed in the after she -- -- where exactly he's flying at that is not involved -- it.
How I want a lot of these guys do that Tracy is seen on -- -- corporate trips.
They will travel somewhere you know I mean Abercrombie is an international company they'll go somewhere for that and then.
Puddle jump over -- -- or whatever you can handling -- -- to family with that so.
-- to give you a little size and scope on this he's using the corporate -- for personal travel -- of a lot more than some other.
Very successful CEOs out there Glenn Murphy who's turned around GAAP.
He has a 200000 dollar limit which is what.
Michael Jeffries is being -- your Abercrombie he's got a 200 K limit on his personal jet travel.
Healy buck 91000 dollars worth of that in 2009 -- he's got the 200000 dollar limit and he's not even using half of that.
Okay and then there's Limited Brands you've got the CEO -- -- -- over there.
He heat in the top five executives over at limited which owns Victoria's Secret about hot Bath & Body Works.
Never used a dollar.
Other companies money for personal travel on corporate -- that's -- it should be by the -- Susan -- and this is looking to get -- Michael -- not really the idea being asked to cap X 200000 dollars a year he's getting paid four million -- city that can't either way and he goes over that amount of 200000 dollars in a -- -- for using the corporate jet.
They just have to reimburse the company he didn't get in trouble.
So -- it's it's fascinating because it makes stockholders very happy that I mean you got to police stopped today.
Kindly let me take over them.
1982 Michael Jeffries has been -- in 92 men are quite a long time that he didn't like I said -- and it's nineteen -- medal in doubles.
That's your DMA and did billion dollar deal that you did that was like Iran and -- outside -- to 49 dollars regardless five year tenure periods stocks fell and mean as as long as -- -- -- heading up at night and I view Beagle I've always 92 he has certainly has appreciated and not that and not to mention you pulled in 23 million dollars side.
In 2009 which is double his -- thing.
The previous -- -- she's getting compensated very very nicely.
Yeah yeah I would say so I had -- at one dollar.
But use for personal for I was uses too much I think -- should work corporate.
They ship carrying out paper performance and if the -- -- the company if you're wondering.
She just has to pay back a portion.
Four million -- -- receiving two capitalist.
This is what shareholders and we talk about shareholder governance and shareholders have any ability to say on -- say on pay this is what we're talking about the -- Here and they don't do here and we need to be able to do that you write Y travel as a shareholder -- shareholder battle coming efficient cannot warm bath fitter or big shareholder.
All of a sudden I hear this story on C east and I want something to be done about it right away but I don't really have a -- -- -- you know I just sit back here and allow the board of the good -- boys to say hey you can fly your plane here not to fly.
There and that's very true why you wonder you wonder how much longer our attic Michael Jeffries Abercrombie humility -- like I -- I just pointed out a couple I have got a handful who major executives here who are given the privilege.
And deny it.
Just because it doesn't look at -- Coming in question is is assistance -- This kind of thing and I hang around especially during tough times like that's amazing but isn't even -- marketing and any other hot and back off of my -- -- but he felt really bad here I mean the -- scans bite from here on -- that's that's yes he knew my name.
Remember -- Abercrombie.
Abercrombie suffered so much during the past couple years they refused to lower prices they wouldn't have a sale of their story gosh forbid walking to the flagship store here on Fifth Avenue and still you know 150 bucks for -- Jean company -- seen hw floors all those trips this.
-- to the Bahamas and CG and what not when you're discount.
You can't do that you gotta have full margin.
Thanks Sandra are -- -- Sanderson says all right you know -- let's talk about food.
Which is one of my favorite topics but usually it's about fatty food and salty food we're going in different directions today Nell Newman joins us -- -- president co-founder of Newman's Own or.
And -- also Peter meat and seal noon Newman's Own organics says well -- -- -- what.
Got Mario good thanks for being on the show OK explain -- -- the difference between that Newman's Own organics and then Newman's Own networks and they -- in terms of the salad dressings and whatnot.
We started about seventeen years ago.
Initially is an organic division and then we became independent and where that we do the majority of the organic products for -- -- I will tell you I use the coffee.
The organic little clearly cups love it love it the coffee is terrific so you started out.
You dad was had this line and you said it needs to be organic and he was like this organic stuff makes no sense to me.
He thought it was sort of like the heavy whole week stuff that my mom used to make in the -- to put on like an organic anyway.
His criteria really was.
Make the food taste great.
He wanted to be associated with products that tasted great.
And that happened to use organic ingredients so why pretzel dogs aren't aren't yet you start with the -- Yeah that was you know with my dad's favorite snacks really care what we do that would be easy -- story in -- pencils were my dad's favorite snack.
You know Peter just looking -- I -- it interesting that you've actually partnered with.
On McDonald's in New England as well if it doesn't seem to make sense but I guess it does.
We are so proud.
Of our relationship with McDonald's 640 McDonald's in New England.
The only coffee they serve is Newman's Own organic coffee and they have just done an outstanding job of bringing it and it really low prices so that all their customers who -- -- never had an organic coffee before can try it and enjoy it.
And -- Our -- both of our hats are off to them they have just done.
A great job of promoting our brand and being a great partner to work with.
And now well and and Green Mountain Coffee Roasters that the company that does -- machine.
And decay cups.
They all they were instrumental in in putting the alliance together.
We've McDonald's and they have also -- a great partner to work with.
Yet that's how I found the -- was through the little K cups because I have -- little presser.
-- -- -- -- -- -- So tell me now when you're not that's -- when I buy it Newman's organic products.
Ice as part of them.
My money goes towards the foundation.
That is correct every single time a consumer buys in Newman's Own organic product monies generated.
For the Newman's Own foundation to give away.
And the foundation.
In has group has placed.
All the responsibility from Paul's charitable giving.
-- mention as their mission.
No I think when people still think about organic and -- -- so much in popularity over the last few years but they think it's probably almost you'll probably think it's more expensive.
And that it just it does taste like cardboard still audio what are you trying to do in terms of preparing promoting -- more than cost effectiveness both what do you see it as the number one thing you're trying to.
But across the people.
Tomorrow our motto is great tasting products that happen to be organic mean we have a -- note -- you know looks a lot like an -- And it pays a lot it -- like Ariel so.
We really want to just convince people that organic doesn't mean it has behead heavy in whole week.
They can just it's a growing practice it's how you grow your food you grow without pesticides herbicides.
An artificial fertilizers.
And you make a really great product out of it so pretzels chocolate cookies.
You know there's a lot of interesting things you can do with our organic ingredients.
The pet food parties instincts -- dot -- we have dog treats here on the table is that.
Is that a whole new kind of world that you moving into because people just as concerned as they are with their kids are even more -- Arguably more so concerned.
With -- content these days.
Your pets are your children and you are ultimately responsible for them because.
Unfortunately they can't do shopping on their own and a that they did we all be in trouble -- So people are really taking.
Charge and that when you really look at it you can just you can feed your animals -- premium product.
It for very little money so if you -- spend your money and buying a premium pet food.
-- you probably save money and your dog and cat will probably have a better life.
Because of it so people are waking up to that and our pet food sales have been really just fantastic.
The website is Newman's Own organics dot com are you that 1000860.
Products right now.
And are you looking to expand it -- it's -- even greater number.
We are we're always -- -- it.
Expand our product line and it's it's important in the food industry has constantly come up with new and interesting things so.
We're always working on something and I can't really tell you what it's always a secret yeah.
And love that.
-- -- -- is still on the bag by the way it will he's day I hope throughout all the union absolutely.
Now how is it getting into retail locations as well be now obviously that's very important if you didn't -- that the supermarkets and whatnot.
Where can people buy your products and how much of the challenge is that that forty.
Thumb -- pretty much at this point we have.
We have really good distribution and start off a natural foods moved on into grocery.
You know -- -- readily available.
In your local neighborhood store.
I'm certainly by request but generally we've done really well in grocery and natural foods.
Yeah I've but -- Recommend -- think it's really and it's really really good now thank you so much -- being with us now Newman president co-founder of Newman's Own organics.
And Peter me and CEO.
Of the company thank you both with.
Joining us and there's that very angry and are on our -- thanks for seven.
Please enjoy the pain so I think cellular sort of -- certified organic -- -- until and there are also could have Kosher certification -- by union with -- Jewish congregations of America which is located acting right around the corner from us here with the whole -- I mean I'd use all of the popcorn is really really Denton and demands -- -- -- Science believe you me and he we're gonna begin to this and it won't be like eating -- -- -- pulls food.
At the -- -- that.
Oh Sonia kisser grits -- going to be eating some Newman's Own organics thanks for watching everyone we are off.
Thirteen points since the start of the show that's problem.
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