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-- -- I'm sorry not -- not a lot again today we got inventory.
Wholesale inventories came actually were a little -- -- an -- Stocks moved up about this that that's that's where it runs -- his parents look there.
There was a little sales gain was basically that that happen is what's gone on here at the end of day but it is Wednesday and it's gorgeous in the city.
-- -- -- In this studio for -- change.
On thank god it is bomb really got also merger talk to got banks in the news.
-- -- on suntrust among those banks that are.
Kind of -- speculation right now about you know mergers and obviously we had news yesterday about city that we broke right here on Fox Business Network -- Banks are on the move also noticed.
Airline stocks are just aren't -- -- I mean it's unbelievable what these stocks have done over the last year and a lot of -- of certainly had big runs but airline stocks he wouldn't expected because they just always like this you don't expect that the this steady climb and that's -- -- Well one of them are movers yesterday was parent company united UAL they said that there's a yellow came out and said they've -- more business travelers more traffic.
It's future's so -- -- got to Wear shades.
And with gasoline you know oil in general higher it does it's a little -- And -- -- hill and that and -- you don't but it's it's certainly inching up the pump.
And we're feeling at least I'm feeling it's making a big difference -- quickly get closer and closer that three dollar -- you know.
All those 82 dollars a barrel right now -- it's it's getting about it that technical resistance right around that 82 which it has no breakthrough but if I could before we go to our you can illustrious guests.
There's so I feel like there's so much news there's -- tend not to decide we're -- still love my Toyota we're talking about all these things and today.
And yet the market sentencing.
Does it all little tiny bits of news is that what it is and then nothing it amounts to much and nobody for nobody knows what to do with it -- maybe that's what it is -- maybe -- -- -- -- -- greenhouses here equity strategist at Miller a tea -- Dan I want to ask you that question are we getting kind of little teeny bits and pieces of news here that.
Really we try to make it into a hole doesn't amount to a whole line.
I think the big problem for the market today is clearly the death of -- him caught my eye Wall Street is behind them -- an eye on that I just got a government.
Because there's a lot of lost boys -- -- lost -- was a great movie every movie I'm gonna walk off the session Patrick.
All right well still my aching heart in my memorable movie never ever ever a great movie.
It was a great part time no no no they do that says something horrible about our time and that's what I'm saying yeah.
Breakfast club breakfast covered over a great movie I think so to have breakfast club sixteen candles all those rat -- brat pack movies do little when he lost boys.
Heading in the same -- Los Angeles while pretty -- -- -- think this conversation towards Howard the duck him and then we're gonna.
I definitely definitely walking up aside I will obviously investors are walking off the sad -- because no one's trading anything.
-- volume has been pretty -- Macon and looks even worse over the last couple days if you subtract out.
Things like Fannie Mae Freddie Mac Citigroup AIG he's highly -- names.
That that's a well known at this point and is pretty -- thing but one thing that we've seen with respect to New York Stock Exchange is behind has been leaving the big board.
For some time now and it's it's finding its way into other areas but in even if you -- everybody up volume hasn't been the best from some time now.
But we are getting these glimmers of hope we're talking -- -- activity were talking potentially.
You know we've seen a market hold on -- economic data is not so bad our jobs number was not so bad.
Enemy enemy and is as an investor with a 401K.
You don't care if you're stock went up the buck on -- shares -- went up on a million shares of prices are going higher that's all you really care about as a retail investor of course.
You know but -- two -- point there are things on the horizon things that are emerging that are a little worrisome right now that.
The labor market was certainly a little bit better than expected if you remove the effects of the snow.
But at the same time.
Areas of the economy are not investments one that jumps out of course is the housing market can marry the economy that has not participated in any meaningful way over the last eight months.
The title of your notes today everybody hurts obviously -- last and you hear what was the musical reference -- this is an REM reference hey.
REM if reform for those that don't know I'm a musical aficionado or so I call myself so my notes take on.
A -- band or song lyric every day today was everybody hurts traces -- as always Bruce brings.
And of course I'll let the other day we fouled -- -- flat and -- my right Barbara Streisand when -- the day after Barbara Streisand even worse was a Libyan news that's.
Hey every musician has their place in the ability of fan of their music good -- I honestly love the note the note was called let's get technical technical.
And I won't everybody hurts that's but I don't like that -- that that's very very good and noble in a larger sense.
Yes it that the note was something that we've been running with here at Miller payback is the idea that.
The in the global economy the US economy specifically has really been brought out.
Of the recession on the back of the manufacturing sector it's a relatively small part of the economy overall somewhere between 1015%.
But in terms of driving us out of the recession it's been of the largest contributor.
We're probably getting to a point with respect to a -- that earlier about the inventories.
We're probably getting to a point where supply demand fundamentals are much more.
In line than we've seen in many many months and what should happen from here on out or -- give -- -- here on out.
Instead of just simply increasing production to rebuild inventories were deceased declining inventories as much.
We're gonna have to start seeing production levels come more in line with demand.
And if and demand doesn't pick up considerably production is not gonna increase considerably -- certainly reason to be optimistic.
There's less reason to be as optimistic as we have been over the last let's say six months as we all over the next six months at least I would argue.
You know -- we've got some people talking about it's one economist I read -- -- from.
Jobs added in March in -- admittedly this is the slowdown after that but at least you have the snap back in March because we had to weather related issues in February what -- And let me add my name to that.
-- well big like I don't have an exact number yet.
But I don't think 300000 jobs added would necessarily be.
That ridiculous so to speak I do want to add though for everybody.
You have to be clear about this stuff from the net for the next couple of months you absolutely.
Have to take into account the effect of hiring for the census can be in March it's likely to be somewhere around a 100000.
Workers so we're sitting here going oh my god 300000 -- doing it as -- 120000.
Of them are a government and be more importantly temporary in that by the time we get to the -- these these people start coming off the payrolls.
But we haven't seen -- and this is -- is not included.
A big increase in temporary employment actually over the last six months or so it has been on a steady increase.
What are the -- that those temporary jobs become full time appointment.
This is turning out to be the great debate over -- my last couple months and over the coming -- -- also quickly at a bit of an optimistic note.
Excluding construction we've now added jobs two months in Iraq.
Yeah that's like you know you can't take construction abacus is still part of the economy but in theory with excluding construction jobs we've added jobs to -- tomorrow.
What what trees is referring to -- -- our viewers that don't know and temporary workers are historically viewed as a leading indicator with respect more permanent job growth.
You've seen that several -- recessions.
The debate among economists now is whether the these shifts in the way companies organize themselves the productivity that we're.
Wringing out of each additional worker means that temporary workers have lost some of their leading indicator ability if you will.
In that temporary workers are now the permanent area in which you would go to hire someone and don't necessarily.
Presage a more permanent hiring going -- -- they don't read anything into that.
Well no I'm just saying what the debate is set up where I come down on that -- somewhere in the middle more towards history is gonna -- out I don't think it is easy to dismiss.
The hiring in temporary workers in just simply say this time is different than those are.
Arguably the worst -- you can ever under in your life this time is different.
History tells you there's a pattern it's likely to be used the same this time I think the broader argument that I.
Held for the last twelve months and I'll hold for the next six million months.
-- whether it's not whether we're gonna add jobs we're gonna add jobs economy is gonna grow.
We're gonna create jobs whether we create enough jobs whether we do it quickly enough the economy lost eight and a half.
Million jobs if you plot every job's recession over each other in the post where we are in the basement.
But why would you want it to be quick you wouldn't I would think because that's I mean it don't just create error along the way because the administration is doing everything.
It's trying to do everything so quickly -- -- -- grown up.
So wouldn't slow and steady when the race at the end of the -- Well it depends where if we get slow in city government job growth I don't think anybody's gonna write home and say that's what you want if I get who the -- I mean I I don't disagree entirely with what you're saying.
But if I get who.
Private sector job creation not just in manufacturing but retail and trade and construction and manufacturing.
Although I mean this is what happened in 19831 month in 1983 we added more than a million jobs.
You know there are.
That that is not necessarily the worst thing to see especially considering the depth from the -- we saw in terms of how many jobs -- lost.
Dan quickly we've talked a lot about this past year how great it was -- 70% almost on the S&P 500 but moving forward obviously we're not gonna have another up 70% but.
-- where you see areas where you think okay.
If we didn't have a great year last year we will this year or will add to -- -- year.
We'll take it to very quickly if you look historically the last couple recessions include recoveries including the stock market rebound in 1983.
They're tends to be a period of moderation after this explosive growth.
The summer of 82 -- the summer of 83 huge games but from 83 to the end of 84.
Pretty pretty static 91 you saw the same thing 929394.
Not particularly good -- for a final 607 not particularly good.
-- you tend to get these periods of moderation file an explosive growth he gets a little bit more difficult.
What we're arguing -- Miller payback is you still wanna stay with some of the things that have worked like materials in the technology sector looks pretty good are communications analyst data networking analyst Alex Henderson loves a couple names that are making 52 week highs every day -- coat systems riverbed.
There are areas you can make money you just simply can't throw a dart at a dart board like you could over the previous 70%.
Things really get a little bit more difficult going forward that's not the satanic money just have to be more careful.
You know in the lot with the I don't -- -- every -- about it headlines know when -- when it's when it's Radiohead Grateful Dead.
There or Bruce you get a lot of -- you Radiohead very very subtle but very very strong fan but when -- Olivia Newton-John or we'll get that.
You get a little bit less hey let me tell you something out -- best hair bands to come at a Hollywood -- yeah concerts I think I've ever seen yeah.
And I we got to go got to get a get a damn thing I want my staying greenhouse.
At least that is -- -- tape -- and of course music critic extraordinary what caught your -- today you know money -- we do it's early yeah.
-- -- My racquet and I didn't like -- around.
-- so we talked about as often on Barney -- Maher is big things that you should welcome I have property in a really expensive neighborhood that's the best deal you can make right now.
Well we're not parents put a list together of the top ten police is that if you're looking for luxury purchase.
This is where you should go another big caveat here.
-- warns that -- of course everything is very subjective.
The price is so weighted.
-- -- That being said number ten.
It's -- islands in Florida and if you buy there Harrison Ford will be one your neighbors is off 18% from their highs.
Moving on down to Asheville, North Carolina beautiful place -- -- down a big fan actually 38%.
Off from Keaton.
Can't keep the sand island this is what parents and nobody listens to meet Ted Koppel goes down there all the time to all 40%.
From their peak.
Of course Palm Beach is on the list.
Down only about 11% with a median price in Palm Beach -- three and a half million dollars pebble beach California number six clear he went big Clint Eastwood big fan.
20% drop off -- your peak there.
Aspen Colorado's you know big fan of Hollywood Hollywood is there all the time Jack Nicholson.
Median price -- get in -- is five and a half million dollars.
-- and I'm incidence of these places Aston Park City in the Hamptons I don't think that these places -- -- homes are still back every expense not what you did in the Hamptons for one half million dollars and you'll if you can get that condom than you would have but -- park city -- million dollars Hampton's one and a half.
Your island in South Carolina and Dan Marino of course love that that again one point four million dollars.
Number one now -- Oprah Winfrey's big fan and even and now you probably could find something for one and a half million -- Not that I have one and a half million mind around but if you're looking for a luxury purchase them.
One half million I mean man and now he's off 27% from its -- so you have -- you can get that mortgage.
Don't -- -- -- point 7% to me that sounds like a deal it waiting to happen and now we kind of like.
Manhattan but different in the fact that it's an island this is not getting any bigger so there's no more property being added to it it is what it is and it remain.
And it's delicious.
And -- -- up coarse sand island of 40% Nancy how 3.3 half million dollars -- and I think that's where you go we're taking a break we'll be right back they'll they'll go anyway I'm gonna send them.
Welcome back foxbusiness.com.
Live Cotter and burns burns to Barnes Peter Barnes joins us from DC Peter.
-- keep talking about health -- health care health -- and yet at the same time we have people on capitol actually working on getting financial regulation done.
How are they having any time to figure that stuff out.
It -- that's absolutely right.
Chris because you've got the Health Care Reform debate sucking all the oxygen.
I -- out of the room as we say here in Washington but.
We are reporting on progress that negotiators in the senate banking committee are making towards getting.
A financial regulation reform bill we had.
Two of the top negotiators.
Senator Bob -- -- Republican of Tennessee and senator Mark Warner Democrat of Virginia on the banking committee and they were at a panel discussion this morning and talk about the progress they're making.
And they said basically that that they are it appears that the negotiators are trying to resolve one of the biggest issues out there which is what -- -- do with it consumer financial protection.
As you know the administration has proposed creating this big new independent consumer financial protection agency.
But the negotiators appear now.
To favor putting that into the Fed.
Part of the reason for that is they want to make sure that any new rules that this consumer financial protection.
Entity would create.
Would not -- so tough for so complex that they might jeopardize.
The health of financial institutions and that's potentially lead to another financial crisis of some kind of this has got red flags going up all over town among consumer groups.
And fed critics including.
House financial services committee chairman Barney Frank.
They all hate the -- they said -- the Fed did a terrible job on consumer financial protection but senator corporal for one.
Reassuring everybody and saying hey wait a minute where we're gonna put it there because you wanna find a balance and don't worry will make sure the consumer financial piece works out I think we have a sound -- here take a listen.
That we lost the sound like here.
Well I Harrison -- guys I don't get it how they think they can tackle all the they're also talking about resolution power they're talking about a systemic risk yeah insult the tax -- exactly -- -- -- all I mean how I expected figure all this out and they had do they honestly -- leave it gonna work.
Well they have to because guess what guess what we don't have any more money.
I can't block out the -- thanks again.
And so all of this is about trying to make sure that the next time this happens it happens god forbid.
There will be early warning system they announced that you know the systemic risk council that would having national institute of finance to monitor and and I gather data and information to help the counts so make sure that they're firms are not getting into trouble they talked about fifty billion dollars for a bailout fund -- resolution fund that would be funded like the FDIC.
Deposit insurance fund it would be paid for with fees.
From financial institutions.
And so there so they're looking at all of this and they're coming around to try to get a compromise because you know.
As we close to the election it gets harder to do this we have Health Care Reform let's take up a lot of time.
And it's really -- on the radar right now for voters which.
Oddly enough means that they might actually come up with some real policy here that might help make sure that we don't ever go through this kind of crisis again.
It's very interesting -- you you're right it is sort of under the radar right now among the populace thank you sir that OK guys thanks for the skeptic in me makes in -- in DC.
But I mean just makes you question like what does that is that on purpose.
What little that it isn't yet.
Exactly that's -- they're actually making move that's why you're staying up to 1 or 2 o'clock in the morning because they feel like wow we really have accused got a first slide this under the table so to speak.
Hollywood -- applauses here is a co-founder of the lending club joins us here in studio hi -- The -- you are right now this is something that's very interesting we talk almost every day about the credit markets out there a point of banks lending -- -- not lending.
Is it to consumers is the small businesses.
-- in the lending club you have appeared to peer system where the do you take the banks out of the picture entirely.
That's exactly right.
We we think we we -- -- and follow the Scottish -- took credit crisis.
Individuals to -- involve money indirectly -- he tells our.
And made the flow of money patrol over -- going directly.
From the source of capital and -- -- because it doesn't need to and investors to the use of capital -- people and small businesses in Newport credit.
So I've come to your site and what do I do.
I am I basically input the information that you need and then you find me -- lender.
Yes there's a depending on which side you're on if you're interested in in getting traded.
You -- in -- online petition.
Into being self or B -- information you would expect in terms of Social Security number.
As my son's.
-- -- address.
And -- so much information we're going to access or credits you started.
And you -- my credit report as we do the same type of underwriting and the banks.
Movement -- -- online for the automated.
And then based on the information.
We tense call you it's -- petition so some of petition to predicted some get approved the one that get approved get an interest rates.
That is reflective of the least represented by the -- -- -- isn't definitive story.
Now that -- -- on the other side of it I'm getting.
Bomb about point 75%.
On the money market account yet I don't want to put that worked that money you worked in the stock market necessarily I can be you.
Do I can I split the risk with that -- sickness -- -- a lot of different areas what type of -- in my look -- -- getting with you guys right now.
I assume that -- right then and lending money to one person would be a risky bet for hundreds of binary outcome you you know that the -- does not before opening -- so it's insulting to us on interest rates.
All the thousands of thoughts when you might lose what your principal and to the -- -- is as a as an investor.
Really spread -- -- amounts across.
Spends hundreds of thousands on the front loans you can take a fraction of -- long.
If you visit the -- of the portfolio.
And you might you might participate in -- a few few balls into a 101000 dollar on its Sosa bats even if -- coming in -- -- -- say 101000 calls as an investment.
Then you're going to spread the best investments sensitive lands at one -- going to 100 different people.
So who's getting -- these -- -- but I basically better question is who's not getting approved and what are the things that are gonna deter me from getting approved.
-- -- I underwriting crackdown all sorts -- banks right having those benefits that this is -- He's he's not so much that you would get what you shall not gonna get approved by a bank's chances -- not gonna get approval mending I've ever been if it.
Is really that Mitchell getting a lower interest rates and it -- definitely shop and the -- more so than anything it's that they're right we're we're softening the bats -- and -- -- -- and -- use of everybody because we felt when he got back from making it more efficient.
We continue down some of the costs that the banks and care.
And and we're pressing on that savings tomorrow's we get him nor interest rates mean -- says on average since we started.
More than nine point 5% net relaxed and that of the spokesman -- his.
And that's since 97.
So and there -- -- -- dropping its bid for interest rates dropping like a rock when you can't make any money anywhere.
They're making that kind of -- money now what about.
You know from the small business and I need money to buy equipment I can use that equipment as collateral are your loan secured or unsecured some mixture of of the two.
Not just going for the -- -- unsecured on security review of small business -- to a little steak and Biden -- of the business as opposed to business.
So how do you make money.
I would tell the few transaction -- Of out of -- -- long made so at some or the about free to -- -- sounds a little -- Community and one person servicing fees -- commanders -- -- -- -- I'm sorry about.
Four to 5%.
Of -- that I for little over the life of the loan okay and -- -- -- you.
The event that comes to us now.
What -- your number's been removed without an open since 97 on -- CC in the market can't do a few crazy things.
In those two and a half years oh what is the man like on both sides -- That's who was halted in 2007 on a 101007.
And in any city obviously written also demands total loans and then she reinvest those communion because there was no -- -- Since we would be outs that track could call the Soviet underwriting of good predictions like this is a -- -- phones you know you know tough pretty -- death.
And -- and high net -- -- for investors we've seen more and more money coming in my -- this situation where where it could have more supply and demand.
We'll have more money coming in from he has those bands and quantify it borrows I think -- -- -- -- -- It's like yet a lot of traffic to the say yes he tells the website now before we go so lending both -- lending club dot com notify us thank you so much for being with us -- -- Yes check it out it's thank you and as a -- could just went and -- through the mortgage process then.
Wish and you begin.
At a mortgage process.
Have a great then on the streets in New York you buying anything down -- -- It's not right here has maybe we don't mind are you behind your property -- -- -- that why can't hear me.
-- -- -- Hi it's Tracey Chris Rock -- now and I.
You are you buying all -- -- delegate -- maybe you we got you are negotiating a deal maybe that's why he came here -- I was not just target broker had just finished interviewing Leo wells up from wells real estate funds on that for the network.
Yeah it's got a five billion bucks in his pocket he's looking to buy affected by 322000.
Square foot complex in Columbus, Ohio this morning.
But he's telling me he can't find the deals he had anticipated right now.
Because the banks are not willing to foreclose on a lot -- some of these landowners and the building owners he's not able to get some of the prime locations they're looking for.
Because they're sort of kicking the can down the line what you know that the -- Tracy is very catchy but it says a rolling loan.
Gathers no loss then -- ball in other words I don't -- -- they don't want to mark needs to market they -- keep pushing it out a little while.
Because -- they're trying to take profits right now and Nancy if somebody's -- landlords who have some of these buildings are able to get and other tenants to start paying it back because we've seen -- stabilizing I also talked Greg Anderson -- rides inside development earlier this morning.
He's basically a turnkey operation if you are a retailer you looking to get a New York City you call someone like Greg.
His -- basically helps you scout locations the and they work with the brokers.
And any -- you design and any builds and operates that's you know sort of one stop shop and he's saying at around here in SoHo where I'm standing against south house -- in New York City.
The reds have come down but not that much it's sort of stabilize over the past six months in these most desirable locations and you've got people competing.
For the same spot so you know it's interesting it's it's weak but you have to look at it from a couple of tears mean Leo wells.
Harking back to have the same -- Yeah a couple of years ago people weren't really differentiating between sort of that the top clearance of the -- here.
Realty they're just looking to get and on real estate because they're like it's gonna keep going up and what now investors are much more discerning.
And are really starting to plot mostly only to the top tier stuff.
And above and beyond that you've got different ownership structures think about -- if you've got someone let's say give me a well since this complex if you divide it pretty easy straightforward you -- -- Leo and you buy it.
What happened a couple of years ago you had people coming and working with Lehman Brothers working with the investment banks to get levered up -- mortgage backed securities.
Complex deals with multiple ownership in -- and you have groups.
If you're trying to going to buy that now that's a lot to sort out -- a lot of these buildings are going into foreclosure.
So what you're gonna happen the next couple years you have judges.
Deciding what the value of some of these buildings are not talk to real estate attorneys you know yesterday when is it work to do and some of these deals already.
And so it's gonna be complex is gonna take a lot of sort of it's not a cut and dried situation by the -- definitely are finding it.
More to their liking right now -- they weren't the end of a seven we've seen -- come down by a third to clearly for the retailer you can get publications -- -- but.
The most crime are already starting to tick back up a -- -- -- like right here and so.
-- you said they don't want to Martha loads to market but if it were anticipating the market's gonna go up it would actually be to their benefit when you or they're just presuming that the numbers will change.
That's absolutely right Tracy and that's one of the reasons.
Some of these banks are not marking its market because they're anticipating.
The real estate is finding a bottom here is getting some flooding as cities properties could go back up so why would they do -- absolutely right to know it's forcing the -- At least not yet and that's why he Leo well to say he has not found the value -- -- is expecting a fire sale.
Around this time this year because you know you've got you know his.
Figure was yeah about 400 billion dollars and not commercial real estate loans coming due this year we know there's one and a half 1000000000000 June over the next five years.
And so much it has been financed and you know -- again some of that very complex stuff.
People like it don't want to jump in and buy it because it's just too many parties this committee.
It's that some of that financial alchemy that we talk about you know when you -- you know using -- different stretches of bonds or mortgage backed securities this is not clear ownership structure.
It's a lot more difficult to yell at that there's going in and getting -- buying it from a real estate investment trust.
You know and we're seeing some of that to -- and -- -- talk about General Growth Properties they have a lot of the high end malls around the country you know they're trying to restructure in bankruptcy you know they've got.
Different groups competing now for those properties because they are the -- property.
Dad's instincts -- any -- to believe -- that like no one wants to put anybody in a long term lease because a year -- anything get way more money than you could today so you know -- in -- short term relief and I'll hold off bond market my -- into Miami I think there's there's a lot of money probably being made out.
There if Chris and I Tracy and had.
And -- and what's -- also as you have people who locked again.
At the end of 06 and or seven as the market was speaking a lot of these people are looking very yet people still solid left to get out -- the divide up the space.
Because it's so prohibitively expensive in certain location yet we sit right down by a third but he if you know you're paying a third one and you have to.
If it really hurts and it's hard to pass along the sales you know we see the sales.
At seventy retailers now are trying to cut prices keep them -- what you can do that if you're new retailer coming in -- paying less for your space but if -- stock.
You -- DOD the the bubble prices it's really hard to have a sale price out there and if you really cutting and you margins rather -- -- sir appreciate it.
-- -- -- All right guys have a good -- -- -- -- -- -- That's good start and the it really is very agency do -- those -- -- the very beginning when he said that there really is demand -- we talk about -- -- they will result in about commercial -- residential that.
You don't want all this feels the illness and dumped on the market will Robertson is actually is that there is -- -- out there for the commercial real estate they're people that are waiting for this immensely to come out.
And to be able to to pick it up.
It's funny I was talking to some of the other day she wants a starter her her own small business and she's like you know while the market is terrible for -- -- start right now.
I can get retail space dirt -- says she's on the Spencer -- -- if she doesn't know what to do and I say go -- Now.
-- about about business -- on the high -- -- -- -- -- markets down about 35 points right now the Dow at least is down 12:30 AM East -- 930 on the west -- and -- -- little died yesterday we were up about fifteen points and and on the sudden you're down thirty points well.
You're sending negative energy out to the world will right now and does not hit theaters -- working all right so -- that will go to DC.
Gave -- BC co-founder and president of the international council of electronic commerce consultants joins us now.
What -- not ethical hackers it seems like an oxymoron -- today what's the content.
Well you out at all a lot of people thought that ethical hacking you know it's really an oxymoron it's not really.
Pact has been known to be the bad guys to go but ethical hackers are basically good people all information security professionals that have created this -- skill that a -- would have.
And what we do we've basically test -- -- the permission of the owners so we are called ethical hacking.
This has not been a a new -- it all has been around since the 1960s the US army you know has used is in the sixties IBM calling the dome.
And though we just they don't happen to be the ones that -- develop with an indication of a medical hacking.
Seeing -- certified to be an ethical hacker.
This reminds me -- -- when your parent you have kids.
You stand there rooms thinking you're looking at all the different ways they could break out all the stuff they could do wrong all of places they can hide things and thinking got -- covered.
Basically it's the same thing right.
Accidentally I believe you look at the anti evolution of intelligence security.
Operations across the world believe that -- of the best way to secure and that two of us that school by a piece of Hotmail lets invest that funneled money.
In that applications and you know that we'll fix it.
The problem with that is is it all they -- is just basically -- buying an entire -- -- then all of kind of equipment meant what you don't have the knowledge of how to make the -- So what we actually do is we teach you know the.
Do you ever we'll play the roll call and ready from -- -- can -- member frank data -- junior the they gave -- -- -- who -- a bad guy was chased around by the FBI forever they finally caught -- and they said we need to use you for good enough for evil.
The ever do it that way we take -- bad guys down the sudden you turn him in the good guy.
Well you know letting nobody agencies across the world you know -- use that because the you know they they seem to believe that.
You know that the only way -- will get the real hackers.
We completely disagree.
To me it -- and the entire organization.
Basically you know if you're hacker and they have done something bad you know and let the of down time for it you know their bread is a felony or given -- -- -- -- -- You cannot then come back and take -- them -- the you know what I'm -- reformed and I know can become a ethical hacker I let me help you to defend.
Just like how -- not -- -- rapists -- a -- got a foil on it you know it exactly that thing.
You know that's it and did.
-- yeah I think they left to live -- -- -- it -- -- mean if if you're white collar criminals a little different yet you have pathologically.
Inclined to welcome.
Buddy I don't I mean that maybe you -- right if you -- her goal diabolical back.
I don't know -- Let me go ahead bill.
-- -- let me this try to.
Put it this -- right when he double hackers you know most developing it are hackers somebody that they are out of the miles away.
You know sitting at a computer is -- -- my -- is probably gonna you know get my username pass and put them funny stuff is public that are deep faith my website.
-- -- ahead is not exactly the way hacking extending out.
It all heck you can actually cameo I mean hackers can actually hack into medical devices and -- -- -- become a time we could decide to you know.
If let's say they'll want the vulnerability in some of these devices then you've essentially die you know financial sector we could bring -- -- -- if if the bad guys were able to you know hacking do banks and financial institutions and steal all all of the -- gave out.
Very serious crime is does that perhaps the maturity the market is not at that level where we actually put -- had this to be extremely dangerous.
But so many it is especially the defense.
Way you see a lot of programs has been made an auto focus has been put in jewel in ensuring that the hackers actually -- stopped and the and the only way.
Is that why you inside -- terrorism it's cyber terrorism day down -- -- I think you're dead on and I think there's some to this and I think actually I was in college and I knew anything about computer I've won in a lot.
Jake thank you sir David VC from co-founder Brazilian national council electronic commerce consultants will you Aaron -- retain around.
But it doesn't floppy -- we're learning to program a C plus plus and -- -- so I said -- how awful was that DOS I did this awesome I would be just unbelievably exciting.
-- -- -- -- -- Believe I mean he's right like I think there's hackers and around college universities all over the place trying to get -- no one -- my computer and the -- by not trying to they are right but.
-- to market -- now.
-- -- markets down doesn't particularly want you to be with -- J.
Crew was down this morning at J.
Crew of course came back from the dead basically when Michelle Obama dressed her girls and J.
Crew for the inaugural ball on the inauguration on Latin.
They swung to fourth quarter profit margins benefited from fewer markdowns.
Fiscal and full year earnings came in above expectations the stock was down though 4% earlier.
Vail Resorts I love this is interesting to me I love the ticker NTN balanced people steam again fiscal second quarter earnings did pull -- like 33%.
But revenue is better than expected.
So how about that there's some stuff people -- gone away again permanent fix environmental services we talked about this a little earlier in the day and -- -- fourth quarter earnings surged.
Higher than expected revenue growth you gotta love that and lower overhead costs and they and the CEO came around to they had sizable opportunities.
Up -- electric fourth up was a fourth quarter results well above forecasts although I have to -- -- little caveat.
Two analysts still without the stocks up low black -- not it's not mean snow -- ever -- a little less than.
At the opportunity you did you value rather get in the before all the analysts jump on -- I -- But that went all the analysts finally upgrade it's not that's the yeah.
What is Jessica's these guys are China based electric motor maker and everything -- can show them is because we had those guys on yesterday Ruben make the highly Dalia.
And finally -- and innovative services.
So they have -- skin and wound cream that was approved by the US health regulators shares jumped like 61%.
It's intended liked -- -- picture.
-- loans and stuff like that little little again action Biotech lottery -- stock nevertheless.
To the moon had the winning ticket today 45%.
Upon us give us your -- on.
Let's go to Florida right now Phil Keating joins us from Fox News is spring training what a great time if you're an Arizona or Florida facilities -- -- you come up -- north.
And you go down to spring training and it's 75 degrees and sunny you literally sometimes the actually that the high temperature here today for Mars is going to hit 81.
Really thinks a real.
But in this -- you know our country is -- beloved dogs and some blog I know it's easy.
And yeah -- that -- you.
-- sometimes you know one of the things I remember -- when the Dodgers left dodger town in Vero Beach is such a sad moment.
That is that's -- happening in a lot of different places in Florida is it I don't it was always Florida and Arizona.
And the teams out west but played Arizona teams in the east would play in -- there's -- training is that changing and all we look at -- move -- other states.
No that's no that's still those two states -- Florida and their -- Arizona has the cactus league.
Florida of course -- the grapefruit league but of course the history for spring training really does truly resides here in Florida.
After all so many -- -- snow birds come down here right here in Fort Myers today.
It is nothing but.
Boston Red Sox.
Fans yeah plenty of snow birds -- -- you and are down here but.
Tampa Bay Rays I play the Red Sox here at the top of the hour itself.
For a myers' not -- far south from Tampa Bay -- you are having a smattering of fans here 8000 people sit at the stadium.
And because of the threat of teams leaving towns -- -- stadium improvements and better.
Practice field the better facilities in perhaps Arizona or even in other Florida cities.
State lawmakers do not want to see them leave that to other states because they say look these.
Teams they are here for five or six weeks for spring training they create 101000 jobs -- -- about 750 million dollars the economy.
We need to keep them put however sports economists.
Are you number one they've studied when -- have a team into an -- he lost the team.
-- into the year the tax revenues were basically the same.
And also you have those that say look.
The state of Florida two billion dollars in debt right now.
Is projected to be maybe at the five billion dollars in debt next year with a stimulus money runs out.
And I don't think tax dollars -- subsidizing one private corporation that being.
Major League Baseball so that debate does go on.
Up in Tallahassee the legislature just began this year's session.
And so they'll debate instituting it a permanent.
Spring training retention -- which would.
Have all of these millions of dollars tens and tens of millions of dollars accumulating permanently that when a team feels the need to improve.
Instead of looking at people that did them to leave they'll just -- matching -- tap -- those dollars but it has yet to be done.
So that's the taxpayer matching funds that that they're proposing that they're gonna try to -- Keep money in a safe spot and then it ever need it they can go get -- Exactly because I was up until now it takes the Florida lawmakers a majority of the Tallahassee to approve of injecting some.
State tax dollars to help some particular teams.
-- -- one they did it for several teams in 2006 they did it for several teams.
However in 2005.
Lawmakers defeated the idea and so supporters of spring training of Florida.
They want to make -- a permanent fund that's exactly how our.
And -- that apart yet how.
They are not going to you that the park right now because the Red Sox were thinking about leaving the city -- -- city which is behind me.
Built in 93.
But it doesn't have all of the other amenities that were included in stadiums mounds -- that year for example.
Take a look up in the stands 8000 people get that in here but not one of those seats has a cup holder which is something that fans expect these days.
There are limited number of luxury boxes.
Concourse areas that really you really can't walk around and have all the upgrades and look out there in left field.
You don't see the Boston trademark green monster -- -- doesn't exist.
And there's no big video Jumbotron so these are all of things that you know a big team like the Red Sox thanks their fans deserve itself.
Two years from now they will open a whole new facility about ten miles southeast of here that we'll have all of those features I just mentioned.
And that is certainly gonna make Boston fans happy because -- the down here for the winter.
Not -- enjoy the spectacular springtime.
-- Florida they'll also revealed that have a great facility with what -- parking too.
As they say.
I'm not like the ultimate sports -- outlet.
But just -- rats not all of your cup.
Who will have -- saying the -- why do you cup holder I mean imported get a better deal we're gonna stay in the -- What -- what is your triple fifty.
-- I bet that they -- at.
The sale enjoy it's I doubt and -- -- well I'm back on that -- the other thing yeah and Fox News down in spring training I tell you of what I'm with you go there I -- I have been almost every part in Florida because they got a baseball -- and in Lakeland who Wear the Indians play.
It's just like the old with -- with the it's of rickety old stadium.
In the middle of nowhere but it's cool because it is kind of a throwback you don't have the the big seats -- solid.
Legend -- with the Yankees play in Tampa is just like that with a -- cup holder in the luxury suites.
This stadium and a lot of stadiums are just like that's old throwback to go down you're sitting watching gain peanuts cracker Jack that kind of thing it's unlikely baseball experience he initially -- It was still in favor until accounting field in a minute I just think that's really -- -- -- -- -- we come back like I said before the.
-- for the future of the security.
-- Welcome back to foxbusiness.com.
Live -- channeling Phil Keating in Florida.
I'm -- I'm -- that the mom come and it to work -- I couldn't be like -- obviously.
But dominos will open up the shirt about three or four buttons roll the sleeves a little -- and now.
He's hanging out.
-- Not the -- says there today is tied what's -- -- One.
And coat and -- on in the middle -- been -- hot dogs now.
You know it is what he does he's always down south he's employed he's in Texas of the Gulf Coast -- assured openings at the blind areas they just got off the surfboard.
Problem -- life for not a lot on Brian lettuce -- -- he's got a pretty good life as well he is reinventing beef jerky in you know you're the chairman of the -- Of perky -- The -- beef -- each purposely stay away from calling it beef -- you know we -- beef jerky but there are certainly.
Other types who will be coming out like -- Turkey -- This is what gets me via Turkey Turkey -- -- You've got but hope is that a total fluids of just a vegetarian.
Vegetarian version will be coming out I can't believe it's an actor injured -- total -- told Flutie -- Philippine.
Clinton -- -- I had -- very complicated but let's talk about why it's dare I say perky.
And why you create this idling day to create a -- -- jerky -- so perky jerky is a new category of snack that we call high protein energy snack.
And a lot of people out there don't like the sugar.
And that energy drinks have that gives you craft but when you mix it with protein it actually makes a lot of sense.
And this was literally born from an aha moment about four years ago when my friend and I were skiing.
And now you're on the chairlift and I had a bag of beef jerky in my hand and hit an energy drink and then the -- at the bump and he come -- -- It -- -- -- -- well couples are two great tastes that taste great together I tried it it was it was actually pretty moist and tender and didn't taste horrible but he gave us that a ha moment.
On this connect a U series that's what happened with -- little bit.
All right well it did not they'll go the story to go went into you don't believe Turkey you take your beef -- and you -- -- into pro team.
Now we've cleared it up in the seven ingredients and one that -- -- -- we'll -- a Brazilian fruit that's very similar in the coffee and -- caffeine naturally.
It also -- a degree flavor.
And and that makes -- taste great and give you a little extra bit.
Well -- actually targeting -- because I would think we are talking about this before that meeting I would think.
Truck Kurds would be great because they need that caffeine and maybe they don't want all the sugary -- of sodas and things like that Lou -- what's your target down.
With this slow when we started we were pretty sure it was going to be eighteen to 34 males -- NASCAR rodeo action sports types.
But -- found something very interesting that's active women.
It is probably our biggest segment.
Why is that well you would and I think they actually.
Women eat beef jerky but kind of in the closet so to speak sides pretty it's perceived as pretty low brow but we're taking it upscale.
And the the fact that it's really is a good kind of dietetic snack because it's kind protein low cards -- sugar and -- great itself but also has a ton of sodium though right you got to get over that hurdle.
Now -- -- -- of sodium but that's it's all natural so we don't use any other preservatives in the facility to -- but another segment we have is its -- athletes to her and actually want the salt when there gotten.
So then on to -- I can see though I mean I I I don't eat right beef jerky but I could see why people do behind.
I'm from Jersey and a muscle -- lots of them and they eat a lot of beef jerky because it's.
Protein that you can carry with you that you don't have to -- easy drink the -- it easy -- now.
You're seeing each serving -- eleven grams of protein in only ninety calories from barely any arms and that's a great snack.
It doesn't keep -- go and and then the best part about it that -- we spent a lot of time did you find the best case available concluded -- that's important because -- -- lets face it EU.
You've got some really tough competition out there I -- did you go.
Whether it's it was slim -- or whatever the case -- beetle -- the 7-Eleven.
It's right there on the end the pilot it's been there since 1971.
You've got to just all of a sudden attack that it will really -- established players -- on the other hand there's a lot of places where.
A product like this can work his example.
In hotel mini bars we're doing really well and even that farm stores in western Wear stores and will by positioning it -- of a more upscale.
In a combination of the energy that's -- are going to.
Dominate the market but had I get it now where is it aside from an upscale hotel oh right now you get -- procedure dot com.
I love sports authorities.
Whereabouts were allowed in participating seven -- in Southern California.
And I hopefully anywhere with that cash registers.
Yeah exactly how hard is it to get into reach the retail establishment like you -- assess -- authorities got a tough -- takes months.
He even for.
The retailers that really get behind -- -- that can get excited about it.
It just takes a long time to get he had distribution -- you know and so that's what we're doing really well on the web for now how are you funding this.
We hear my partner and I are serial entrepreneur -- so we're funding it with -- round -- friends and family angels.
And -- the clubs that he did but I slack in the standings credit so tough to come out okay so what's next Chris mentioned.
Turkey -- the Turkey -- jerky Turkey Turkey very -- then vegetarian.
That's coming next in the maturities.
For those who -- caffeine sensitive procedure to decaf.
Okay it's it would just like regular beef jerky but but it's not because you guys have concentrate on making a better flavor and that's -- -- get a separate is over the that -- -- But it's better to better tasting Beecher correctly -- -- heard.
One serving is about 5060 milligrams which is about a cup of coffee and energy drink has eighty milligrams usually.
Outstanding checking out these -- dot com thank you Brian.
Thanks for coming in and you're the chairman of the hurt lamb and what is your partner my partner Matt Keyser he's real jerk.
He had been on his business -- and I didn't he played with us you get to make up your own title of really it was another -- -- I think guys are sales managers the trail boss.
Are you hiring.
Of let's say -- And I'll want to have my I've only wanted to.
I've got to take a break we're not done that we come back when he thought about what the significance of this whole -- deal is AT&T apple whose health was it hurt.
Chris is gonna tell us look like inside and out and I just beat her if you're on my knee movement type -- -- that.
Political and I -- You can't just eating yeah.
But my how I wouldn't I independently with -- Ourselves I don't even though I had dig into that I -- but I wouldn't.
We have what I want because we -- to doesn't know Kravitz he's out there on Skype somewhere editor in chief of bone dog dot com know you back with us.
-- but I.
I wanted to retire last -- last -- -- -- -- I want to recall that alpha dog but don't don't want to know I think in many who think it is indeed the real jerk -- keep the phone dog -- -- -- docs out here I love and -- That you know what no we were we heard this we we have you know it's changing the game of beef -- here today and -- -- -- -- -- -- yesterday -- -- changing the game on the Internet.
But it isn't a real game changer it was.
I wouldn't say I was -- disappointed but from a stock perspective it was like OK it's kind of -- in -- Yet you know when when you make an announcement that in a month you're going to announce that the Internet gonna change forever -- an expectation -- -- -- You know that's -- this -- did and -- Announcement that you know it's a big deal because basically what they came out with what is a new Internet backbone router which.
If you imagine the other router that your juror hold your home office what have you that.
Shoot your cable -- modem connection around.
Your house or your office you know -- -- -- an industrial scale that's you know up the backbone of the Internet -- literally.
And since they're next gen Ryder co CRS three.
And to be available Q3 this year.
And you know they're processing speeds up to 322 -- bits per second which should put it in lay terms.
Is about three times as fast as the current generation.
Back on router.
And -- -- service per second.
You could you -- -- couple interesting you know I stats sheet around you can download four billion MP3 files in a minute.
Then going that fast every man woman in China could make a video call.
I would imagine that we could place a lot of orders from Turkey Turkey -- Garnett -- so you know it's theoretically it's a big deal.
And I think you know that they interesting aspect as far as -- what -- -- for the real world.
Is that AT&T you know let you sit in in the lead up AT&T was part of the announcement their field testing this right now.
As part of there.
Back call are great they're doing to their field testing this in Florida and Louisiana.
Hoping that you know sometime later this year maybe early next year.
-- will make it shot in there you know and user data speeds pseudo all those iphones.
And you know possibly I -- always users faster data speeds does have a real world application.
We'll see you don't it'll be a little while for we see it and now.
But not the way you just described to me I think it's a game changer I mean you know to -- stuff like that that I can download four billion songs inside -- a couple seconds.
What happened yesterday was -- -- does bad PR with Cisco because it just it was Clinton and a big dud.
Yeah well I mean it's not.
You know -- her announcement isn't as sexy as and I -- know -- iPad or or you know.
Hulu deciding that they're -- -- you know you're showed everybody -- what -- you know it's not.
It's not content I mean the end user to wrap their head around.
It's not something it's also very small percentage of Cisco's annual revenues you know this is on I 90000 dollars 90000 dollar per system.
Product but you know they're not selling four million of that at the -- they're selling them to AT&T so I'm.
Yeah it's I think again it's.
You know especially in in the tech world it there's so much -- and you know people.
It's this pattern now of pre announcing an announcement and then you announce a product that's gonna ship you know six to nine months down the line and it's such a -- And again with something that's you know.
What you said it's very very important but it's not a sexy product percent itself the end but probably -- Working with one of our local market affiliates this morning and a producer got -- and says some real exciting video of the back of Cisco router to show -- -- listen to my -- that's like porn all right but I Anderson I like the rest of us.
The video of a router is an exciting now what is exciting is if I'm an iPhone user and I have -- having to -- -- -- really slow three G and about the growth against the wall.
Will I be -- I have faster speeds come the third quarter when you say it's available fourth quarter early part of 2011.
Would say you know more likely.
Fourth quarter early part of 2011.
This is just one piece it didn't what -- he's trying to do.
And the other carriers as well are all trying to make a jump to faster data speeds at AT&T obviously it's been.
Highly publicized because it's been real you know in the past three years.
-- one statistic I read it with that AT&T'S.
Broadband data track soon you know I contract basically has jumped 5000%.
In the past three years and and out handle.
Half of the mobile broadband data in the US now and you this what is it specifically but a -- he said that's that's iPhone users.
So they're -- and you know -- got a lot of work I'm out here in the San Francisco Bay Area.
The California and along with near city -- to metropolitan areas that AT&T brenly went on the record and said.
We acknowledge there's -- issues yeah we're we're working on yeah so yeah.
It's a real thing and this is you know just one of the things that's part of what they're doing.
But it's important because.
They have to get you know what's the backbone as they called -- back home did it to get back up to speed first.
Before they can -- it increased the actual wireless speeds they can keep you throw in -- front against the wall itself.
You know it's.
Again you know like he says that video of the back of the router is sexy -- lots of people low though there're there are -- out there you know BR.
But operative for the rest of us it is something that's going to make a difference you know I hope we sent -- letter.
Looks is good and very happy being the anonymous like so called -- of the web and -- read they're doing just that -- -- thank you so much for being with us against our editor in -- fund dog -- my -- Next time we see -- union new titles are now the dog.
All -- the dog unlike in Iraq I'm like yeah.
Thank you so much things have all right quickly you have to tell us look quite right.
I willows very good you know who said.
This morning to learn that Corey came and passed the way of course.
-- -- -- and Iowa and high school.
He really had a New York rise.
-- made so late eighties who's in Lucas -- lost boys that was his big thing in a completely fell off the facing here if he and Corey Feldman his fellow childhood star had.
All kinds of problems with drugs even did a reality type show.
Later in their lives he was very Booth forthright.
About his drug abuse.
And said he actually set -- one point on I think it was an interview just this couple years ago he said he was a chronic relapse -- for the rest of his life.
Which I didn't last very long after that he passed away early this morning to fifty at Providence Saint Joseph medical center in -- he was 38.
Years old so one of those and we don't know cause of death that we don't know cause of death it's going to be -- and -- have an autopsy he was apparently suffering flu like symptoms over the last couple of days.
So we don't know whether he he passed from the illness he was feeling.
What he was taking.
Yelled a cocktail of drugs in the over the -- over recent years -- taking -- is taking downers who was in was it Coke Coke addict than one point Tommy took crack.
Valium I mean the guy was on just about anything you can ask.
It is a sad so sad that didn't get help mom I -- they don't we will see you tomorrow.
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