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Welcome back sampler and I announced as soon as just them honor that's -- -- Madeline -- adjustment.
And it clears up for his second.
The bar -- that yes and that's my only that's why -- that's.
At yeah eight WellPoint.
Why else would you write this morning -- -- usually it was really fun you actually asked feeling why are we up.
And so now.
We have a public they're going yeah yeah.
We certainly have -- the sort of this fear behind us and today there was a lot of fear whether it was from.
Yeah we had GDP revised GDP before the opening bell that was actually better than expected although still horrible.
-- point 6% compared to one point 4%.
But in the revised down from 2.4 -- yeah and then there was real anxiety about Ben Bernanke speaking at 10 o'clock eastern time right after the opening bell.
He didn't say anything new and nothing new.
And I and we thought -- would you go the sell off and we were negative as you -- for just a brief moment.
Right after 10 o'clock right after he spoke and we've been going up -- ever since.
And that is happening -- -- into more evidence that she got into came out there and you really -- thankful that this.
They open this up again you know within minutes later they -- -- it again because the monument was so I didn't feel and it.
And out of the advice about love really -- Peter Jackson.
Very much right then it just goes to show isn't -- of fun because if it wasn't that there -- more money amount there more traders it wouldn't be judgments.
To smooth out all these knee jerk reactions.
Ryan Detrick joins us right now from Cincinnati senior technical analyst -- -- investment perfect guy to have on.
Fred daylight today Ryan that the action is our -- our Tracy I correct -- that it is just.
Knee jerk reaction is driving this market up a hundred points down a hundred points in this range.
You're exactly director Chris -- when you look at the market the last three months since the flash crash what do we don't have done virtually nothing.
Up around 1130 at the peak out around 1040 the bottom ES and we've just been shopping around so the optimists would say all the negative things that -- the fact that were holding up in this range only down about five for community.
There's a lot of good reasons to be bullish now the pessimists obviously the sale of -- negative things.
This market's gonna eventually break its way lower in the bond market that we can talk with -- little later bonds are obviously signaling.
Potential slowdown lot of money going in the bonds.
So it's it's an -- I probably bottom line though in this strange traders light volume while the day trading volatility but we're not going anywhere unfortunately.
We talked about resolutely yesterday is this.
At a new lawyers this -- chemicals in the last few weeks on this trading because what we have seen.
Summer doldrums before.
Now you're right I think it is probably more what we've seen the last couple years where it is sort of lighter Moya but a lot of volatility and it's just here to -- as we know the retail crowd is pretty much out of this market for the most part.
Fifteen straight weeks equity mutual fund outflows.
-- upon hundreds of losing dollars out of stock mutual funds the -- Al so now who's left.
Bob of the big guys lot of the algorithm -- so that's why we are seeing more this volatility.
On further for the most part line of argument is probably here to stay for media for the intermediate term at least.
Ryan from -- economics and data perspective is less bad back to being good and we kind of I kind of feel like that's where we all -- one point six revised GDP is reason to buy stock CL.
Exactly I think that's the case and you when you look at this market sentiment if things are extremely negative -- for a lot of good reasons the sentiment pulls the day I'll I -- looking like yesterday lowest number -- since when since the march -- bottom so you see things like definite contrary point of view we get.
Any good news whatsoever and today.
GQ isn't that great but better than expected now -- getting a little bit of a balanced so I do think we're in that area where things are so -- we can be good news with a lot of Schwartz out there are a lot of -- out there this -- could very -- continue and be a significant amount maybe just back up -- the top of the range nonetheless has -- probably can continue here I think.
Don't do expect the market -- up -- all before these November elections are we gonna trade in this range pretty much until then.
Well -- they can't remember September is historically have a very bearish month in a very troublesome -- so.
I think you will we will try to get out of September into the middle of October maybe get a little bit of a clue as to what the elections might show.
But until then it's going to be tough but historically November December strong and we do you think that's probably gonna continue but he didn't -- every point we just have to get their first -- all the uncertainty that's out there and look at the -- and look at the trading no one wants to make a big -- the big -- -- -- -- people for money there but it turned to stocks they're just not really putting their money to work so this would -- around here -- violent fashion but don't know where unfortunately.
-- how can we have 11 and a half percent.
Annualized growth GDP.
Third quarter fourth quarter as many are predicting just very flat stagnant growth.
How can these companies continue to get earnings growth.
Any did any top line growth at all we saw a little bit of that second quarter it looked like he might be getting some top line -- but how can they sustain -- if we have -- growth in the economy.
-- exactly right from the kind of economic point of view there's a lot of issues and you have to continue to cost cutting companies have cut to the -- won't look at the one positive in this look at the productivity numbers the first two quarters this year up over 6% for the first half Fuhrman productivity numbers doesn't -- that's the strongest number since the mid sixties and -- people so productive control so few workers are doing a good job as much as they can.
So -- that's the flip side is that in the productivity numbers were good.
If jobs can finally those weekly numbers on those little bit better yesterday on the weekly and employment claims if that can come back there's a lot of potential for companies put the money to work you -- -- put your money to work.
What we see briefly companies are putting -- money in emanate.
I do believe -- and -- activities positive.
Because it shows there -- willing to put their money where their mouth is and by lower -- companies which are not necessarily obviously giving jobs alpha company -- to other.
Other people that's that's gonna continue probably hangers on economy.
One thing to remember -- you talk about the economy talk about the stock market you don't necessarily need a raging -- economy -- stock market go -- 1995 was one of the best years ever to be warm the spot market we -- negative GDP print that -- last year -- -- -- in doing that -- pretty solid years so it's all but expectations we did a study -- -- GDP is around one to 2% that's actually one of the better times to be long the overall stock market -- the -- -- -- 4%.
Expectations are higher if you can get that disappointment lower GDP I'm not talking -- -- -- -- -- and muddling through like where we are now I think.
The expectations are so very -- like we've touched on you can get a upsides of significant upside surprise I think and hopefully if we're gonna see yourselves before the end of the year.
Let's quickly -- about some of the -- you're still bullish on interestingly the software doesn't surprise me but commercial real estate still I didn't.
I'm not sure I I'd buy into that story.
Good it's like no -- yeah.
Yeah exactly from a contrarian point of view it's that looks at the march -- bottom -- year to -- Commercial real estate named specifically the renamed to lead this market higher most of those commercial real estate names -- fifteen point 5% year to date.
I don't think most people realize that's if we ever be any good economic -- And -- rebounds we full expect commercial real -- -- negativity to keep bouncing let's talk about wanting out like this week.
The housing numbers for the housing numbers were horrific this week existing home sales new home sales.
What's the strongest sector this -- housing housing thoughts are actually very very well in the face of negative news as is real short term won't fully aware of the same -- arbitrary point you may -- people got so bearish on housing for a lot of good reasons finally maybe get a -- bottom on housing stocks and housing thoughts financials we need -- at least the -- have a meaningful bounce and even lead -- -- we can actually get a good rally going so.
I -- see -- there and on the housing front kind of correlated with commercial real estate and commercial real estate definitely is a sector we like offer price action everyone hates it.
That's -- -- like it.
-- -- real quick on the housing though.
Once those homebuilders balance though -- those bounces so short term once they happen.
It's really too late to get into and you really risking your risk return is not there to get into it after he had that -- -- -- -- bounce up 346%.
Well actually what we're looking -- -- -- probably for more meaningful announcement you're right again in this market in general it's we're not getting any substantial -- so it's it's been very tough was this morning -- more intermediate term trader hold it.
But again when I see a lot of these warmer -- -- to -- -- pretty standard housing stock it's actually all year to date long term chart at some very nice of.
But we lost of them now -- knows that it's done by an art will have to pay a follow up with him on the -- -- -- -- -- -- -- I knew that if we just -- -- think his second pick up with an iron there.
OK -- -- came back.
That was warm -- actually up year to date.
And in the price action in the longer term basis there's some support at the twelve level -- one random house and stuff but I'm seeing support on these.
And again with a negative sentiment that's on housing stocks -- they can balance.
I do you think there's some potential and housing commercial real state and against software specifically in the tech area that's an area we do think -- potential but overall this market it's so tough -- -- -- Unfortunately -- news of the trade with the market gives you here.
It be careful because just being nimble Ryan Detrick senior technical analyst at -- investment thanks for joining us are about the -- and bullets there.
No probably -- -- thank you -- you have a great weekend and I and that's good stuff.
That was really good stuff -- we -- one of our best.
The it it gadget guys -- coming up Noah Kravitz are gonna join us from phone dog dot com Ottawa.
Of the up heads the ipads all the slate computers all the four G phones out there.
None of it neither I want all that and I've got none of it he's gonna tell us what the -- Enough I even won it and we're continuing our it's his final day of our five Dave look at -- Katrina and how they've rebuilt its.
Parts -- accident have been rebuilt through scouting report and all that as well to break we'll be right back.
Near session highs right now couple 117.
Points as we try to wrap up this week -- -- high -- -- a tough week goes in one -- were down five of the last six sessions so going back to last Friday.
But -- we in this day on a high note you know.
When you get to the fall we got NFL football starting but you also have what's called the chase in NASCAR they have races on Sunday still.
People are you know.
-- -- that dial between the NFL and NASCAR on both of these two sports leagues if you -- are competing for eyeballs Jeff Flock joins us right now from.
Chicago Atlanta Motor Speedway in Joliet -- while this -- Some fighting and battling.
It is really not but I'll tell you at NASCAR -- taking a long.
-- -- From this September they will do.
Kick off to the chase for the cup here in Chicago on a Sunday afternoon.
Great -- typically all.
Racing and ABC the NASCAR Camping World truck series out there right now I got -- Russ good news the there's love -- these talks -- out here.
-- chase for the cup -- in Chicago yet to kicked off the chase for the Sprint Cup in Chicago.
You know third largest market could arguably private best sports market in the country's pretty strong.
Kansas -- got this truck race there for for folks that don't know there are three big NASCAR.
We have been Camping World truck series the Nationwide Series which is like the -- and then you have the Sprint Cup Series.
Earlier I really can't go too far but I like -- over.
Not everything -- -- over my this is the better -- over by the accidents there go to the end.
We look to go to the -- Right now their practice -- for tonight's race.
Drivers are giving the teams feedback going and how the car handles on this track every track is unique to NASCAR.
So have nuances so they're practicing to get the car set up for tonight I.
I got to ask you do you think it's a wise move to take on the NFL because England when this happens is that the kickoff to the -- The BS Sunday afternoon.
Market that NASCAR competes with the NFL now.
You know we talked before you said you don't think that is going to head to head -- -- may be on at the same time you NASCAR spin spin like that don't really challenge.
We compete against NFL for all ten of those races I looked at it for us this morning -- Again somebody in the Chicago market whether it's the Blackhawks the cubs White Sox were the parents know.
It's a popular sport we had a larger market area.
Then NFL to -- draw from Minnesota Wisconsin Iowa Indiana Michigan so we have a larger -- market that we tend to draw from you.
Ends up here.
How many people can you get in these stands and those boxes -- sky box 775009.
In the grandstand.
You have a few thousand more up in the streets -- have a few about 101000 camping in the infield.
So it's and then you have the infrastructure the media the team never.
So why it's -- -- easily I'll run.
We -- -- looks -- a quick walk down to the garage area because that's the other fascinating.
-- last day here and I heartbreak dot com producer.
And we wanted her to go out -- the real bad.
And so I've never been to a NASCAR fan before but this.
One where you can actually do what he -- meet the drivers you can actually get as they.
Little golf fan you can come into the pit area you can coming into the garage area and actually see your heartbeat and -- Yeah IndyCar is unique -- -- -- fans actually in the garage.
The drivers are very accessible the reason they're allowed to do that is these cars are pushed their way in and out of the grand out of the garage area.
Drive an international audience run over exactly so NASCAR's a little bit more restrictive and that's purely for the safety simply don't concede -- Absolutely yeah like you're almost in the -- You can get pit road on credentials.
The drivers do a great job on both series doing what they can.
To get to the fans and then give the fans -- access to the drivers in the technology.
Guys this is fascinating guys -- that I'm not a big motor sports fan but somebody get even if you don't like racing cars he should probably experienced one of these events at some point your life.
Justice they have done.
Fantastic -- thank you so much that was a lot of.
One and I think they can get it began there -- -- and see you next week.
Who is me and now.
Oh really think -- like she's coming to a rest I.
I've got to be odd to be careful.
You know which isn't.
In -- -- -- You don't plant matter that has got around -- -- Ilya.
I -- that I tried that last hour she.
She said that I was gonna get through covered in fire and exhaust you married okay -- -- -- he went ahead and you -- black be careful out there and.
Greg thank you sir but Jeff thanks guys right thank you -- about even if you're not it.
Here head -- -- grease monkey.
Go out there and enjoy a NASCAR race because as you you heard how loud it was it is when not only feel the power you feel the rule or those cars.
It's very enjoyable -- -- Actually I've never been I got to do it and that I'm all accident I had no plumbing but I think he's going to be out there.
Because he is a she's huge -- huge -- I mean Sunday afternoons.
Doesn't leave the captain blankets on watches -- from Virginia you'll what else would you expect I don't know I think I didn't realize this -- a Virginia pass a southern thing big time Virginia the Carolinas Georgia Tennessee huge Kentucky.
I really didn't even know it was filming nearly three years ago it's big all the clear editing.
You -- tell me.
I'm just think -- cars.
The government now says it tracks.
Using GPS that -- without a warrant.
So this is this sort of -- now so I don't know -- you -- -- 2007.
There was this guy's name was one Panetta -- you know.
And the DA wanted to track him yeah so they show up in the moment night putting GPS -- carton.
And they talk -- years later.
They this case comfortable -- and -- you can't do this but the judges actually said that his driveway and believe it or not it's not private property.
Despite the fact that it's well privately owned.
They also said that because -- not protected by a fence or.
In the neighborhood children criminals that they must be.
-- basically 99%.
Of the drivers and America are technically.
Not permit this is what this judge these -- the judges are saying it's crazy including -- US court of appeals for the ninth circuit which covers California.
And eight other states they also said that.
The government agents have actually have a legal right to invade or monitor.
The citizens private property without a warrant and then when not to say that all within reason they gathered with the GPS and the idea I've got.
I'm really -- in court.
It did on the holding dump on me totally dumb -- me -- that they legally allowed all the data gathered by the GPS tracker to be used.
-- and they used actually in a similar decision any -- also by the same US court of appeals for the district.
-- you want once they say that they can put that tracker on your cars and I would say you're it would ideology that is all this stuff but it's of but the guy's car is private property right they can put something on the car.
-- -- -- walk in the driveway finally walk in the driveway area want but once you put something on my car isn't -- my private property that car.
-- at that and as we get asked mark Lanier -- because to me this is the craziest thing in the fact that big.
These judges felt like it was -- it boggles my mind he's just really Big Brother if that driveway isn't private property.
And you -- resurface at driveway -- -- him -- -- -- in taxpayer dollars in the road crew to come on your orange jumpsuits and redo that driveway.
And that a private property but the judges went on to say that no answer I mean at this point you basically you should presume that we have -- -- -- value if you did something wrong 1000 mile.
They -- that's pretty unbelievable installing.
On know they have it.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- But just go -- no credits of one of our -- -- before.
I do any -- before and although Tracy and I did I swear we said you're one of our favorite tech gadget guys if not all of its so.
I think -- you have it.
Oh -- I'm good karma got to have him removed GPS chip from his car -- it was you know thank you very much that's private or it's upload probably apparently it's -- -- -- -- -- -- I -- I yeah you park your car in your kids in Europe Canada.
Yeah I I need to -- I just got in the milieu that they weren't as regulate traffic camera tickets so I don't know -- I don't know.
We need to talk offline and you his strategy and right now a -- The what is -- strategy for apple for this new event they have any time apple has any kind of an announcement event or any event period.
Coming up there's also it's a conjecture about what's going to be said they got -- on the first yeah September don't think yes.
They do it's you know it's their annual music focused event -- in the fall.
You know -- kind of rewritten the rules a little bit about when products are launched and you know.
The trade show circuit -- them during their own events so the fall event September event is traditionally become about music which means I -- iPods perhaps in addition other things.
So -- the latest on that is a new iPod Touch.
That will probably be you have -- industrial re designed to make it look more like the new iPhone four.
Possibly have that new super whereas display and then arguably the biggest feature will be at least one if not two cameras so that iPod Touch users can do the -- facetime video chat.
I just like the iPhone four users can now and then the other stuff that's being talked about possibly -- new.
IPod nano that has little mini touch screen instead -- the famous clip -- And then.
Possibly a redesign apple hasn't product called apple TV which has been out for a few years and even apple admits you know it's not that it also -- -- -- very important product to them.
But especially now with Google TV coming out a lot of chatter about a redesigned TV product obstacle I TE.
And that whether or not that happens that would -- -- also a lot of talk about.
Something going on iTunes awhile back apple bought this company called law lot.
That specializes in streaming yesterday music stream media from the cloud.
And so they haven't done anything with that yet less speculation about some thing for a while.
People were saying I -- -- use terms like conventional wisdom and Smart money but I don't know that exists in -- rumors.
I'll let you were talking a lot about -- some kind of streaming iTunes service.
But I just the other day over on on top all things.
Instead of us stream music service -- would be more of a social thing where you know I -- I couldn't use Izturis to -- -- and and -- look at Linkedin and whatever tell people what I'm listening to you and recommend what you listened to and that kind of thing so.
You know who knows who'll read the tea leaves for a few more days -- -- next week.
I let somebody on the pads out there that I and friends that have the Larry competition I mean are there any that really can -- the iPad.
There you know that there's.
To pop to mind one of which.
Actually exists in the other one.
My sources tell me it does and so I believe them but it has been announced yet -- -- -- from Samsung.
-- it's called the Galaxy Tab so they have this new line out.
Smartphones which you have -- evening -- cute confuse the heck out of people in America because.
Is the galaxy S line -- Verizon is the fascinate and -- -- is a vibrant and you know yadda -- of the galaxy S tab is that tablet computer.
-- seven inch display.
Runs -- made it.
Tom looks frankly -- -- hardware and software quite a bit Lego like an iPad below it's -- Combat will be launched officially on September 2 going to be busy week next week.
Over in Germany at the IFA show which is big.
Consumer Electronics Show a lot of news amount of their from Germany next week.
So -- thing -- Samsung has media store that they're gonna launch in the US very soon and I assume you don't similar rumors I don't know what apple.
I'll streaming you don't video and music and that kind of thing -- and the other one.
Which is still room to land but -- to become -- now possibly on around Black Friday will be the Verizon.
And this is the one that I think you know -- For -- the jury's still out -- in America do people really want the tablets.
Or it was just that apple looks detrimental to eyes and all of apple well -- you know -- -- -- could be that you know apple sold three million ipads and that's it you know nobody else wants and we'll see.
All this is this this rumor products.
I'm watching on Verizon made by Motorola.
Nvidia chipset and sent in these are working on this this odds are high powered mobile chipset for a couple of years now aren't you started -- was in the -- to use in the ill -- candidate but the new version.
I really good for video and so what are the rumors its interest seeing is that this may -- up somehow with Verizon's wireless TV service that it will.
Yeah which would be pretty cool get actual you know real cable TV and -- that bet big mobile TV dot com Lego like -- up well tonight and yeah.
Quickly because we got about thirty seconds why did -- Blackberry -- -- so badly up in flames fiercely to lie in its slow the hardware is outdated.
-- just -- I actually think the software's pretty neat.
The web browser filing is up to modern standards but it lacks.
When using pitches you're you're used to and you're waiting for -- to respond and then when it works it -- -- well that is just it's slow and and and rims and -- right now is you know the new -- for the epic four G sprint Samsung android phone.
Really can do all this -- and Blackberry can we know that my party loyalists will be nominated for that and not put everything out but as a lot faster yeah.
Know that yeah I thought it would be like the perfect solution marriage at all touch screen keyboard it's exactly and they -- it.
No -- -- as Chris said we loved having you we get caddie I love being here are.
Democrats editing she -- fund -- dot com and actually recent test next week out because apparently -- a lock on I'm again Monday Tuesday Friday allowed access via.
Busy week busy week yeah -- thanks so much have a great weekend bank do -- -- -- I.
Bonds actually but that Blackberry torch I was off about an expert that he just Kerry won -- not to have a Blackberry and a Smartphone and that's what I was thinking and even.
CNN it's it's because I'm not one intention and -- go.
All -- now well yeah news on now don't you like to -- -- you keeping your Blackberry with a keyboard that.
Sanders Smith is gonna join this week.
Yeah you guys you that you actually think the good time to come down in New York Stock Exchange as well about a 130 point.
Right now in the Dow what happened actually -- of the major averages the Dow the S&P and the NASDAQ up more than a percent right now.
And this -- despite some pretty -- knew that we got from some big companies Intel.
Lowering its forecast.
It's earnings forecast based on what they are predicting will be slower.
PC sales to consumers.
-- -- now delayed even further the first delivery of its 787 dreamliner they're not delaying that to the first few weeks of -- eleven.
And put them -- with the markets really biting into right now as we had -- GDP revision to second quarter I'd GDP that was.
Not as bad as expected to one point 6% so traders said the market's reacting to that.
But overall -- admit it's a big comments from Fed Chairman Ben Bernanke actually I was just talking to -- -- -- just walk by and it said.
What do you think with a win -- with that Ben Bernanke talking up the markets and there was this one of the pool in the -- -- Even now naivete that he definitely wasn't talking then Downey definitely wasn't trying to scare anybody are cash and had a UBS -- trading -- that basically -- Chris.
That he was very measured in his comments and a Bismarck it was oversold and there -- a lot of these guys -- -- we are seeing a pop right now we're pretty heavily into the green.
He's always measured the right -- understanding great reporting from down here this morning an Intel.
-- it was crazy it was breezy right -- -- even -- coming recap it quickly so.
-- got their earnings for the guidance comes out pretty poorly and this stock goes new looney tunes they halted around tech is around 101015.
We'll -- ever have a boy that.
I do know is what is within an hour of the opening.
And I mean essentially as his running back and forth from the Intel -- of course you know that Intel -- the NASDAQ traded stock but.
They do -- shares that trade down here in the New York Stock Exchange.
So -- running back and -- of that post.
And it will it was halted the first time they have the news -- lowering its it's forecast.
Then when the stock begin treating again apparently there was a prince.
On the tape waves below where Intel trades at 1655.
Shares up it.
Eighteen and change right now every new wave hello and win that it happens that that's considered the volatility required -- it had that as he paid.
Collar kick and then have another.
-- -- And you know and that has the last for five minutes so we and a nano second about seven billion dollars in market cap was not -- wiped out of Intel and it's crazy it's crazy and -- delayed Djokovic can't -- -- you look great grabbed my weekend I got.
Thanks Dan and I.
San Smith dance floor against taxation is great this morning actually since having that really and we didn't know we're gonna talk about whether initially because Boeing which the -- -- -- -- again -- -- -- to come on but you know at the funniest part about the whole thing going not really funny and site funny not ha -- -- funny ridiculous.
Is that that and the -- with their -- we put on this morning which was -- when I was.
Delayed because of Rolls Royce engine explosion.
So my thinking is thank god it's delayed you know you can imagine if -- really well hell yeah production the Rolls Royce engines were exploding but you should be fine.
I mean this is of all it's only a four and a half hour flight for you you should that it Dennehy and he fought.
And I -- to respect to do accidents and loading on -- -- on time.
Now that's a joke.
Now anything you say go far no one is gonna believe you and chip says when you get how does play plywood because they're they're doing it he's adding and if that's -- -- -- -- that.
That's -- that's when -- -- delay yet.
I used to drive a British car.
And it would leak everything oil -- and a freeze a triumph spit fire.
If you thought any fluid that it had -- it would lead brake fluid so I was thinking the Rolls Royce engines -- -- -- -- some fluid right no it's exploding.
Well that's all right let's delay this for a little Altec a 737 for another couple months until there isn't totally an -- question why Sarah Rolls Royce engine in a plane we'll have.
-- GE and Rolls Royce or your primary and bureaucrat with your your primary engine makers for -- those three so it's not -- -- I was I was unaware that rose Norris made engines from -- they do very good plane engines too by the way.
Fine I just learned some things not just that he had great DuPont car what do you do market moves we get back against the so we're going is that completely lost my mind it's Friday it doubt have a hundred joining -- take -- -- We'll get together.
We'll figure -- -- was -- Utterance once of twice the good right now still continue with these gains over and and we go on a high note and Tracy you're gonna tell me what's moving the market higher yeah.
I -- that's too big damage for -- first.
-- -- -- -- Now OK so they make these drug -- Genentech.
For Roche holdings Roche is -- the approval of this breast cancer drug but unfortunately those hopes were dashed today US regulators set it doesn't work.
-- and basically another item to the list the delays and setbacks coming out of these.
Release come at a -- you know.
Images getting killed Intel we just up that would -- dismiss it needed 52 week low it's basically flat rate now but at one point it just went -- today.
Well up would be to the -- to him.
Socks off look at one point two Chris you have from -- and they all went down and they Holland back up -- J.
Interesting this is that J.
Crew of this -- first family right fiscal second quarter profit actually surged 80%.
They say it was easier to sell full price items good news but it -- of course -- week outlook on or look down so and they each employer guidance and then parties have as far as they're concerned.
I couldn't drink market there back in the game again -- -- this is it this is turning -- hysterical now this company and then even war.
And they keep author -- mom mom -- HB raise their bid.
First thing they met Dell's offer it 43 -- then Avery came -- -- don't -- it about to share -- throw money action.
You know this is -- because.
I think now it's to -- it's an ego thing now been released it now for the CEOs.
I think net net at the end of the day and we are talking earlier about the bit about this on Barney.
It dealt wins which it probably will not.
It would the merger would save more jobs.
HP -- this company up you'll see a lot of job losses out of this.
HB -- this company up you also see them -- the IBM a run for their money he got IB MY watch on the sidelines were nervous about what happens here also laughing by how much JP eight HP is having to pay for them completely yeah completely.
And it says that -- data storage company also posted better than expected quarterly results.
The stock was about 20% some more data stored in the news and moving around because of well -- -- Very good ball good -- five years since Hurricane Katrina today is our last.
Fifth in five installment look back in Minnesota with that and -- Trace Gallagher joining us right definitely want it brought me up it -- born yeah.
In New Orleans Trace how are -- Hey guy I'm good Chris Kelly barn which by the way is leaning out in the Gulf of Mexico and that is where that was kind of a dangerous.
Read the most dangerous part of that bad storm surge to a Hurricane Katrina came through they came right through lake born eighteen feet high.
It of course pushed into the canals.
In an inner coastal and of course -- the levees -- this right here.
-- in Tracy is the first line of defense some people actually call it.
The great wall of New Orleans is two miles long twelve feet wide and 26 feet high.
And the theory is that even if the storm surge got 26 feet they've got these things and they're called Arafat that looks like it.
And they wouldn't break the way they would take a lot of pressure off the wall.
This thing is unbelievable.
Newly built and they put this thing together in fifteen months.
It's got these pylon noisy little silver haired cease -- on right here they've taken me is about sixty inches wide and it did get evidence found them.
200 feet down -- a little bit of an angle to support the major structure.
They ended taken 12100 other fire lines and they shot them down a hundred feet and then an additional 2500.
-- -- On top of that to act as a support system I'm not.
Metal even believe this.
To build -- eight Eiffel towers -- -- concrete.
In that storm surge -- To cover a hundred football fields with a -- comes the match and it is just a massive structure.
It's the first -- -- look don't get me wrong we're talking about 350 miles of levees.
Surrounding New Orleans so this is really just part of the project.
Is kind of ground zero for that storm surge that came through and broke those levees -- The thing isn't making stuff they hear they can go -- -- -- great ways toward keeping the rest of the water out of the perimeter around New Orleans.
-- -- Thanks so much and -- dining -- and there's such a stark contract.
Contract you report yesterday from the Ninth Ward right it means that.
Hard to neurons are doing great other parts are still you know almost like the day after.
Yeah really -- and you look down on the Ninth Ward initiated only 12100 of the 5300 homes have actually been repaired or rebuilt -- you look at -- you think wow.
Yeah I mean this is -- this is some are calling in the eighth wonder of the world construction wonder of the -- is just amazing how fast they built this thing and how sturdy it looks and how much it's gonna help but.
But -- you know it's kind of hand in -- thing here because remember the Ninth Ward is that way.
And so people in the Ninth Ward one of the reasons they haven't moved back again at the pace we all thought is because.
They're still nervous.
They're not sure of the levees will hold till they come down here and they see a monstrosity like -- It gives them more peace of mind to be able to go back into their homes.
And and continue their lives because they know they've got this monster protecting them that the key point ventured without storm -- beautiful face up.
And Trace my.
Like I can't panic room Monday re on -- -- kind.
I'm down here until Monday we are anchoring special coverage on The Fox Report on Sunday night.
Hurricane Katrina the fifth anniversary we've got great stuff planned.
All weekend long tune in Fox News foxnews.com.
And of course.
At the end here all weekend.
Integrated MySpace -- everything down NASDAQ seeing guys OK thank you.
-- -- -- in the Ninth Ward and it was actually.
Almost shocking -- -- we've seen so many great things in you know.
Dickie Brennan now is with us down in New Orleans -- restaurant tour.
Owns Dickie Brennan's steakhouse.
Urban NASA and the palace cafe and says places lake -- -- -- doing so great.
We go to the ninth award and it's just yeah -- -- you know -- its mind boggling one houses rebuilt and then it looks like a bunch of them -- just not even touched.
I don't know Dickey is been really good and that the living go to break I'm sorry -- did did did you -- that -- you know it sounds great easy on the streets he's.
-- -- -- -- -- -- -- -- -- I didn't mention it Dickie Brennan was with us to continue to talk about new -- five years later after Hurricane Katrina.
But he's the restaurants around Dickie Brennan's steak -- -- -- half without cafe down in new -- sticky -- below us.
Well you're welcome good afternoon OK so tell us five years later -- business.
You know ferocity it's we've had a a lot of progress and it's.
It's been paying off so law.
Even through this BP crisis.
You know -- restaurants have been able to stay a little bit ahead of both of the -- year.
Business so while we're still continuing.
To have a growth year itself.
-- -- -- -- rest Strasburg and house you reopen that just five weeks after Hurricane Katrina how important was it not only just from.
-- -- bottom line perspective to reopen but also just to show the community we're gonna bounce back -- we have bounced back quickly.
Well you know my part and now we were young guys and I I guess we're.
We -- -- -- reaction was littlest kid in there would tell them I think condition will we wanted to do was be in the all once.
You know we're have been we we ended up in Baton Rouge after the storm and we're there with the governor and a lot of -- people run in the state in.
And working with Louisiana restaurant association and we just kept saying look we want to be a part of this.
Recovery evacuation and and really our intention was to -- detailed.
You know where chefs that.
-- employed work would they have been a part of the of the efforts and by the -- we opened filed weeks into we were restaurant you know me -- aren't really going through the recovery stage.
And there were customers looking to go to restaurants you know in a lot of it was people in -- doing recovery work.
But but it was a lot of locals you know and locals didn't have a lot of options to go have a meal and -- was a trouble experience for us.
-- have a horrible day and then they come in little restaurant going wow this is a nice thing thank you for being here so far.
That's -- -- we did it.
That's really great -- it seems that many of the restaurants are up -- -- again what's the atmosphere like down there these days in the -- you're going from.
Feeding recovery workers do I guess -- are you feeding tourists.
Well absolutely you know I mean I would say really change for Ross in the second year you know it -- it the mix went.
Certainly from recovery to.
Two more of you know our conventions for coming in it was I think a lot of people in the convention moral wanted to support new -- -- In addition of the conventions we had a lot of corporations that would decide to do -- you know their last minute type of meetings it could have been a quarterly sales meeting in that would bring that people stay in a hotel in new -- -- And they would you spend today doing volunteer work while they did their meetings but they're also coming out -- and restaurants you know.
We really evolve pretty quick in the downtown area you know now is different stories throughout the metropolitan but we will we really got back to business quick.
Today you know.
What was like info for years was -- leisure travelers to people who just say you know hey let's let's -- have a weekend in -- -- once.
And I think with all the news and which you which you would see on -- -- You know on the every day news channels and there was a lot of doom and gloom and then they didn't see the good things and you know some special happen this year wind towards the end of the year off the saints won a Super Bowl and then there was so much positive.
Exposure you know when talking about the team that really connected with the community and show -- the how the team was.
Involved in turn around a school or -- you know just positive things that we all were aware of here.
And Dutch -- when things in the French Quarter you know -- restaurants full of people have been a great Tom watching the ball games and ever since then.
The leisure travel market which like -- four years is really skyrocketed and -- mean.
You know we're gonna -- in the rest of the country -- and but things feel a lot like the old new ball once for -- you know.
How much does this tragedy in the gulf now let's play itself out this oil -- -- how much is that hurt that momentum that this you know especially the saints were able to build last winner.
Well you know attention saying because.
You know here we are -- all once you know we're not on the coast.
I think it's really affected the coastal communities and we have it you know since BP.
In our operations.
On a monthly basis we're still.
Ahead of -- year in those same months so we're continuing to grow our business even with the BB DP tragedy.
Now it certainly is affected our industry you know the seafood industry and -- -- trauma support them.
Because it's a tremendous resource its its its be most.
Significant -- resource in America.
So you know with a we're here to take care of it we want to continue to you know it's like a national park for awesome in the seafood resource in the gulf is is.
Really the best opportunity for Americans -- ball caught American -- So you know it's turning now I think people starting to see that it's not as bad as maybe we thought it would've been.
And it's going to be huge.
Campaign for Ross to that it.
To get -- the factual -- the facts straight and for people to have confidence in in what is one of America's greatest treasures.
Sure is let's talk though let's go from up fish to meet your city -- -- now received the most damage.
Can you talk a little bit about the cleanup costs to your bottom line how much did you acting -- -- -- did insurance was -- insurance able to step up.
You know -- You always say right that insurance check every year but today that was.
You know after -- train I was glad we did we've always made that investment.
And we were able to probably become whole you know I mean you you think you come -- but certainly we've.
Probably lost some dollars in the whole thing but you know an important thing -- we -- -- to rebuild the restaurant.
We we didn't lay off anyone we continue to pay our staff.
You know is eight months that we toll -- did that restaurant so that was a local construction company that.
That had built the restaurant you know initially and we call them right away so we'll come back in the like -- we wanna come back and you know and so.
You know right after we finish that that same crew went in and and we did another one of our family restaurants this to be used these drugs you know thirty year old restaurant so.
I think it's we we we don't want to go through it again we learned a lot of things but.
You know we've -- work garden it's starting to pay off force.
Dickie we just talked to a one of our reporters face Gallagher was in late boy in -- surge barrier there.
-- he talked about the Ninth Ward be just on the other side.
Is there confidence.
All over the wolves now are there certain pockets where businesses isn't coming back where restaurants where.
Marketplaces where where it's just completely abandon and you haven't seen any B but even trying to come back.
You know absolutely I mean.
Dale ten -- -- and saw uptown new -- you know you drop around you couldn't see any signs of of a hurricane or damage and businesses have come back.
You know we have more restaurants.
Active in the city than we did part of Katrina you know.
It's astonishing you know -- there.
The success we've had in certain parts of city now mean naturally they're all those areas saw better.
You don't have been received all the protection that that that we'd like to see you know for future storms.
-- we have this.
Believe me is is so much better than.
I think the city would not experience what we experience with a could train if we would have you know similar type of storm.
We have much better protection it's much better design.
So I think the confidence.
So -- our typical tropical Summers that have been here.
You know since -- -- been around almost three hard years.
We're we're in better shape the move out of them.
Dicky look your -- inspiration -- -- me chills up here.
Well you know.
It's been hard -- look let me say this that -- It is it's a feel for a lot of people who haven't had as much success and are still trying to figure out how to get their -- back on track.
But you know I think this city as a whole that's made us a better city you know we we sure look at life differently.
That's true Dickie Brennan thank you so much could snag and come down -- state one of these days -- Wolf the host and -- also gave.
Did you rent -- has driven out Pat's cafe I mean mister -- be -- then went thank you so much Surveillance Act -- the spend the weekend down there and taken a couple I.
I -- -- loans while it wants fantastic.
Here it had -- -- and -- visited great food he got great jazz.
I loved every culture just in the city in general.
And I in history I had a test.
And you know since.
Jazz -- Marty you're talking about wouldn't.
-- -- Welcome back that's been dot com my -- -- -- -- -- is that a 10607.
Final little since we started but not so much was still holed up there we'll take it still -- Easy Brad and payment low value OK so I don't you know that I actually wrote a book.
You didn't -- -- -- none of that and I don't know me but you know and I'm so that pimping myself out -- because I actually read a book once.
That's -- the real one I could never write a book in ever gonna need you most arduous process -- you know any -- -- -- that you shake their hands you you tell them I mean people it is the worst.
It but part of the problem is the publishing of it publishers are from.
Hell if he asks me.
Mark -- seem to -- an answer for all this founder of smash words I didn't say mark.
I got 2.0 I was thinking I don't like where you're pressing me to go with my book I'm gonna self publish.
-- -- Hey -- I mean you get a lot of people like me.
Oh definitely worth publishing over 181000 books from over -- thousand authors around the world today and how.
This obviously -- -- experience in the last couple years what you've seen with this massive switch mean we're used on a Barnes & Noble yesterday the brick and mortar.
Hardback paperback book store is going away its -- -- how quickly are we moving to all.
It's moving very quickly ebooks account for about 10% of the overall book market today.
And that's up over 200% from last year just a couple years ago they accounted for only about 2%.
Of the market so I think in the next three to five years.
We're probably going to see tipping point and CE books account for at least half of the overall book market.
That's going to have profound implications for the future of the publishing industry and also the future bookstores.
-- -- -- -- He looks only okay seat cover seat but then explained new -- of the royalty process works who gets paid and now.
Sure what is the process and -- -- -- to snow's first dot com and Microsoft Word document.
Format -- -- specifications and then we instantly convert it.
-- to multiple e-book format and then make it available for sale and then we distribute it to the major new book retailers such as Barnes & Noble Sony.
-- Cobo diesel and others.
We we give the author 85%.
Of them that.
So every 85% of everything we make the goes to the author.
What is -- how I do you believe it sounds good but.
Isn't there isn't but it does anybody can upload a book and I can write a book that gibberish and uploaded it is aren't you worried about data storage just the huge volume of books that are pretty much useless -- -- set this up you can't write a book but I could write gibberish and went on -- the debate is a gibberish.
Figures it has.
There here's the thing.
-- the traditional.
Book publishers have had a monopoly.
For the last century.
They've controlled the pretty impressed loose and -- controlled access to distribution so they have decided.
What gets published and what doesn't the problem is they have no way to accurately predict what customers want to read.
When I realized this they came up with a difference -- through -- and I thought I want to create.
-- publishing platform that will allow any -- anywhere to publish and then let the readers decide what's worth reading.
OK so I like I think this act it's not let me -- let me get this walk through the process.
I don't get -- -- you re like I would do with a normal public yet a -- of -- -- -- pocket cost to write the book -- -- that we go to the practice I start to -- 85 cents on the dollar.
You market either though right so it all comes down to -- getting the word out there to get people to go down by the book.
All we do as we get the book distributed until all of the major right retailers so we put your book in front of customers.
Yes definitely it's up to the author to get out there and market it.
And this is really no different than what's happening in the traditional publishing industry today most authors don't get any marketing support.
From there -- number -- I -- I would ask -- yeah I was there and knew they did absolutely nothing it was it was I was did very disappointed I was really disarmament the whole process.
Now it did daring -- let go I mean do you like green to look at -- -- and say this is crap we're not gonna send it out to the big the well right plywood big.
The Big Five.
-- we review all of the books before we distribute them out to the retailers but we're reviewing them mainly for mechanical requirements -- we want to make sure the book is formatted properly.
That it -- the book cover.
That is how the proper copyright statement that the book isn't copyrighted if the author isn't the author that we want to -- I bet if you've written a book check it out smash words Marco thank you sir as cool ideas there thank you -- That is because the -- of the press to -- -- full violent -- and I was coming up next who want to thank Dan acog now are in sitting in Vegas.
To what producers who worked on the show this in the very beginning I think it leases beginning -- -- -- -- -- The beginning to -- an Indian in today's your last day I.
-- kind of academic -- you know we appreciate all the hard work can't talk right we'll see all -- let them.
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