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Happy Friday welcome husband's -- live Tracy Byrnes Chris cutter Dow flat.
-- -- Can we must have the lowest volume of admired because he had not a -- between zero and one point.
For about two minutes it's yes it is now in trouble -- triples.
Big news on the Dow up one point -- to.
-- It is.
I think every Friday I actually take that all back I Friday -- green because weird we were just talking about Friday's schedule because it's all.
And irons it's like happy Monday now for a very mean very gain as they're on everything and everywhere they need to be as we unaware waiting on a rival her Gainer -- I'm very on Jeff Flock god love them risking his life and limbs and hands in issues.
Down in North Carolina Cape Hatteras -- he has.
He is right de LAX yeah he's right about that area he wasn't gives it is right near each other on the one thing off -- they'll.
He was in was that if she had the wind tunnel not that long November when he was yet wind tunnel yeah -- Precarious state of the art -- testing Guilford aerodynamics automobiles and and -- like they cranked up to eighty miles an hour that he was headed guys that.
You know we really cannot.
They crank it to a hundred miles an hour is getting blown away.
Until this point is you'll you're ready to do that -- so this hurricane is gonna not been for -- is -- to -- stand out there getting -- done what he does.
Come and he's -- -- -- hands down one of the better.
One of if not the best -- came reporter out there and he's out there get wet precedent.
Yet in those situations -- going on right now there is a fire in a deep sea legs going on it literally.
In -- this still goes to show you how remote these rigs are how difficult it is to get to.
-- it in the latest town I saw -- twenty minutes ago was that helicopters were in the air.
On the way there but that they were our own way.
Yes so just so everybody knows this is.
-- -- It's in the golf it is indeed Grand Island New Orleans and Gulf of Mexico a packet is Apache am I correct in saying that you -- -- -- rig an Apache actually came out and sit at this point they have no comment so they're not.
No one's actually seeing what exactly is happening.
So now obviously reserve judgment on that -- but.
Stay -- obviously here foxbusiness.com live.
The news channel Fox Business Network we're going to be on this this afternoon as more details available -- many years he referred -- background near mimic I don't know maybe they're heading down I think somebody to spontaneously combustible it is a 125.
Out there today.
Yeah it is and it comes into this see this once why -- -- -- I had football uniforms on our children in this weather -- upset about it my son the other day almost passed out from heat exhaustion.
What we used to kids think more woman on it in the US open has now I know -- on the court.
I do understand about you and kids in full pads because of the weather ridiculous you don't need it but I do also understand the other argument that kids are not used to running around in full.
-- and actually used it -- you understand running moving into believing all the weather into account it is nasty mean you could see -- shorts and -- that I'm with you that shorts shoulder pads and helmets like this heavy film hanging over the city known today as is I guess it's hanging over the market as well -- -- -- decision.
Yeah I mean considering we've heard this morning jobless claims were down a little bit so that means and it was only 3000 dollar difference off of the expected number but.
Less a few less people applied for unemployment benefits so.
So -- warrants only 2000 to punch in the gut we got great seams -- sales for the most part I think I mean you -- don't really appealing to -- right.
Costco -- -- black BJ's Aniston.
Nordstrom's which always blows it out of park sacks.
miserably in Macy's did well when he sees limited did well in limited always do well don't that -- is a three secret.
That's that works.
-- -- -- -- The -- he was like the apple lingerie isn't it I mean they're always in first place that again thanks.
That it -- silver I guarantee like that who made the -- -- now though it there it is there's that smile.
Not that's a pretty big smile for somebody's been bearish -- over the last.
Ten weeks but we've got they'll -- -- maybe if we finished the day in positive -- -- beat -- three straight days at the -- my friend.
I'm Mays an amazing uncork the champagne yeah I think that.
That you are still obviously at -- that they asked this question you're still somewhat bullish still aren't any bears aren't.
I am I and -- -- -- very much bearish and only because when you look at the economic environment right now.
It doesn't make a lot of sense to people -- stern not a lot of clues out there I mean the manufacturing number yesterday was.
They give me wrong.
But we really haven't seen that the real bullets clues to really sustain any type of a rally from here on out.
Yet -- senior notes which were -- as -- ways first day of the month is generally our rallies so don't take that any further than well that was the first day of the month.
That's right what you look at just the last ten years are actually going back ten years -- you look at the first trading day of the month.
The markets have actually rallied 70% of the time in the first trading day of the month happens -- -- first trading day of the week.
Then we've seen markets actually -- 90% of the time so it's as close to any guarantee you're ever gonna final Wall Street so when I see yesterday's rally that was decent.
But let's be honest here with some renewed optimism that was the end of the summer the end of the summer recovery which clearly was a -- And now going forward you have a lot of fund managers who were buying yesterday I don't know I think was more -- -- -- rally -- -- probably more of a suckers rally.
-- you look at it does the -- at all here.
I thought somebody from having yes combined company made a good point 1040 on the S&P we've bounced off it three times now it's shown support.
Is that does that mean anything you've mechanical standpoint are we and in that environment with -- really in any throughout the windows.
Yeah well I think it will be turn out the window Chris because here's the thing you have to start looking -- fundamentalists you have to start -- you have to wonder where the money's actually going to be coming from.
To sustain the earnings that we saw in the second quarter.
I mean here we have a number of companies -- -- we've had some sort of some recent merger and acquisition activity activity which is great.
But you have to wonder are companies looking to acquire other companies to gain market share.
Or is this really another way to find another stream of cash flow because there is a deflationary environment right now so you have a lot of publicly traded companies and -- system.
To sustain their their earnings going forward so -- -- just says pick up a few other companies here and there.
Said I have to think going forward for the markets.
We have been buried that that nine or any make growth rate in this country you have that poor economic area and the -- Backdrop.
We have obviously we'll have a miserable number tomorrow -- moving.
I just have to be bears -- and I I just don't see.
Anything that can sustain a rally going forward.
I was really interesting is -- you suggest.
Investors stay away from online brokers housing retailers now the latter two.
Are up right we tell is actually having a pretty good day we saw some decent same store sales.
Housing stocks are up because well we get home prices somewhat up so it's maybe I need to use it -- but green shoot in the housing market.
But yet you still -- get -- -- I.
Stay away from house aiming -- you look at -- July lenders foreclosed on 280000.
Up from 225000.
The the average household that's in the foreclosure process right now he's been living for free for fifteen mine's a lenders are getting aggressive against another going back there for closing -- properties.
Maybe -- elevation we saw seventeen of the twenty metropolitan cities in the Case Shiller Index actually saw an increase in values while lot of that has to do because banks weren't taking control -- -- -- the property.
So now we have to think going forward.
The housing bed you're you're not going to see any type of sustainability right now in house it.
You had the the homeownership.
Rate in this country traditionally is 64%.
We stand at 67%.
Right now which is down about a half a percent from last year.
But you still have a number of people that own homes that shouldn't be owning counts right now.
And then you look at the shadow inventory these are homes that people -- and they're they're up for -- Or they're not up for sale but they're bake it in with the intent itself.
8% of all homes in this country.
Are now part of that shadow inventory once those hit the market -- -- more supply in the market which is more of a depreciation in value for -- So again stay away from the housing sector its poison right now.
It probably will be for number -- years.
Tiger bearish on the markets -- bearish on the economy in general but there are always ways to make money.
To equities that you like to companies like a really I think -- the two largest companies in America once technology company one's an oil company.
By ExxonMobil and I basically would have a fiduciary responsibility to their shareholders and they know it.
Here's a company that has read every bought a 135.
Billion dollars worth of its stock over the last five years and it's paid out 36 billion -- in dividends.
They're trying to help -- I appreciate the value for shareholders.
Did -- archive Harris an investor stock quarter and you want to buy a stock that pays at a decent dividend.
And has management there really cares about its shareholders you want to have a position of ExxonMobil.
In your portfolio the single largest shareholder of ExxonMobil stock is a teacher's union in this country so when you start talking about teachers.
And you have they this six great teacher -- -- -- -- Kansas she's the one that actually has some type of vested interest -- a big oil company.
Now from a technology standpoint apple I love apple.
Yesterday was another one of these big announcements.
They -- -- are gonna look back at this that there were personally Harvard case studies written about apple about how brilliant they are and marketing.
I mean their products are great their stock is -- I don't I -- the company and they're now going into more of a distribution partnership with with other technology companies.
That's a company went around and they're attempting to take over the world so you sit on the Mets -- -- -- -- we love having me on with us.
But I love being there but I do remember where police with us always unfortunately there's but he still isn't -- stocks.
He's still editing music not the biggest accurately and slow trading out and Billy banks have a great long weekends there.
I needed to say thanks for having me and big hair he's meant a lesion that's he's the man leaves its elite level involved -- -- sees as well joins us right now for the university Melanie -- -- professor.
You -- yeah.
Peter -- -- what my bullets I promise that over the next time we had John I forgot.
Well students do that to me all the time that the government -- that they get their assignments.
And I decided that I didn't forget that I could have been leveled at her.
Early in the semester until still time to make your -- up you know -- -- thank you and good thinking I and I would have thought fueled several things but obviously taxes is becoming an issue.
Peter are you getting the sense as I feel like we -- even even CEOs have been -- -- now economists are coming out insane.
What is the biggest thing preventing firms from hiring now it's taxation uncertainty moving forward are you getting that feeling.
Absolutely especially among small businesses you know raising the you are getting rid of the bush tax cuts for the highest bracket.
Will raise to a -- 50%.
To a buck 50%.
The marginal tax rate on all of the schedules CNN com a CB 50% of the schedule C income in the United States 50% of the partnerships.
You compound that with the health care burdens that a lot of those smaller businesses face.
And if you look for example at yesterday's ADP report the greatest weakness was in the smallest firms and so my feeling is taxation.
Health care and the burdens of regulation right now we're in the kind of environment that is a little bit easier for the blue chips to navigate than the smaller businesses and taxation.
Regulation and frankly let's face that this administration is just very hostile towards the private sector.
You know -- to get to the University of Maryland and take it over to the humanities college you really meet people that think the business -- evil yeah.
You know this president sounds a lot like them.
Yeah and so we correct that because.
You're not the only one that says.
Our small -- -- they're gonna get clobbered if their taxes go up I mean it's just the most black and -- statement I think out there these days and yet they're not hearing it.
What do you have to happen -- if this midterm election that we're all hoping and waiting for that there's gonna be little change in power.
The mid term election is going to be very disappointing to advocates of business first of all it isn't clear to me we're gonna have a Republican sweep.
-- even if we do.
Remember the president has to do nothing and those taxes go up.
And the health care benefits you know the health care -- go into effect.
And look at what Bill Clinton did when he lost the house and if -- when he lost the house continues into his presidency.
He use the administrative.
Leverage that a president has.
Executive orders things of this nature to push -- program forward and that's going to be faced two of the Obama warned business.
We're going to see capping trade imposed that way for example we're gonna see a much more -- issues to the IRS or what have you.
Now I'm afraid that the mid term elections will send the president the message.
But the man has no ears mean.
The speaking of years -- really hear anything worthwhile in the Labor Department report tomorrow morning any positive anything at all.
Well first -- Walton in the Labor Department reports got to be negative.
Because it continued census layoffs that's what this this month and again next month and that's just you know baked in the cake and we should just.
You know put that aside which -- stay is the private sector is generating somewhere between 50000.
And a 125000.
Jobs a month if we're lucky.
It has to create -- -- 300000.
Jobs every single month.
Between now in the end of 2013.
Just to get unemployment down to 6%.
But -- warfare on the private sector being the principal agenda points of the White House it's simply not going to happen you know.
Whatever I would heat when I when I was a young guy young professor in you'd say what do the government can't afford this the government can't afford that.
You know that the folks on the left would always say what -- that big corporations it would be a knee jerk response and you could never reason with them and show -- what that would made.
You cannot reason with Barack Obama it's that simple we have.
Closed minded ideologue in the White House and we have economists around him.
-- are inclined not to tell them him what they know.
For example Larry Summers knew darn well cash for clunkers.
Would have the kind of effect it has because all of the economy -- evidence we have over the last half century indicates that things like investment tax credits.
Temporary credits that encourage people to buy durables item in the business sector households have a temporary.
Sort of steroid no effect on on consumption and then there's a visit visit after a -- hangover we know that he did -- -- OK Peter so.
First he did shown here students or whoever the dissenters the ex son financials and they see the tax line and they wanna throw up but -- much money they -- back and -- -- second how we hoping then that come the elections.
Our president starts to govern from the middle and mean is that all possibility here because as you're seeing -- where he is now he's not hearing anything.
When I think -- Happened he's very clever fellow media is not dumb.
-- he will do like Bill Clinton didn't he will move his rhetoric towards the center and accept -- can get out of congress.
And he doesn't have to get much because after all the bush tax cuts expire and he gets what he wants to the end.
Mean this man is taxing the middle class if you take apart the health care legislation he has lots of taxes that affect the middle class.
That -- game.
After his reelection theoretically you know you did a second term.
So he really won't be that disappointed if nothing happens on taxes so who moved towards the middle.
Blame the Republicans for no progress run against the Republicans.
And meantime he will use all of his administrative levers -- -- quite substantial.
-- push forward his agenda.
I mean this is the guy -- just doesn't believe in what America's about he doesn't believe in private enterprise and I'm not a Republican.
You can't find any connections between me and the Republican Party having getting lots of mail about that.
But if you call those of you have interviewed me at fox over the years that when bush why not move on some of the things that were important.
To a vibrant private sector in America I was equally critical.
This guy simply doesn't get it he bottom line America has made a mistake putting this guy in the White House.
He ends up another -- you -- the most fair bounce guest we have.
Well it always seems that way back you don't think he did you look at the long view you can but thanks very much that's better.
At University of Maryland Peter -- joining us as always and I promised him investor.
Next time you have a vote Dion as -- -- -- requested that I haven't had a lot you know -- If you say he's gonna do it and I know they'll get a -- leave it to him but -- getting -- The point that it's very very well that -- think -- be -- they say Americans.
Seriously speaking at a hurricane Earl is just off the North Carolina coast right now it's moving up the eastern -- would Jeff Flock is gonna join us when we come back -- -- talk to him he's out of Cape Hatteras.
Where the waves are starting to pick up he seems he's pants for the third time this morning and what I mutilating wet and we open.
I welcome back foxbusiness.com.
Live Tracy Byrnes Chris got -- The Dow is up a whopping eight points and I know we take it it's Thursday in the summer for a long holiday weekend.
Better than being read it and the quite a weirdo look concern if I might say that green red green red -- we got a serious hurricane coming up the coast.
-- boxing reporting live for us in just a few minutes.
But tell you a question I.
Apparently it's hurricane related it is hurricane related.
Companies are expecting that -- if it continues along the most.
Commonly expected path skirting the coast Lotta rain some high surf some moderately damaging winds.
Allowable cost insurance companies between a 100000500.
Million dollars now a Hurricane Floyd in 1999 the most expensive hurricane ever to hit North Carolina.
All one point eight billion dollars in damages in today's dollars now I've been to a couple -- -- can't -- through Hurricane Fran I was in Raleigh.
When Hurricane Fran hit a few years back in -- -- -- Columbia, South Carolina Hurricane Hugo hit it's not the hurricane itself.
Hurricane comes and goes it passes through it you're like man that was cool you -- But then -- no power in the water -- no food he had no gasoline you know transportation because the roads are all covered in mud and sand and trees and wires.
And you can go anywhere for not days weeks.
And so that's where everybody really gets trapped there's no water there's no electricity is nothing is -- Lucas who can't come in Larry eagle out with -- -- and its aftermath -- the aftermath is sheer chaos and -- -- that that's really where.
You know let me ask you -- that the one point eight billion from Floyd that's the national number because imitate anatomy employed I lost my car.
Apart McCartney train station.
This so this is 9899.
-- a good and I find -- -- sense so up artistry season and it was like.
You know he had to walk up a flight of stairs to get the -- -- that.
-- nobilo and all flooded and 25 of us plus localized so get up the chain and it's a late.
But but but but but now I know -- -- that it isn't.
Like 79 you could have -- delta radiated to sort of floated like a bowl that you buddy Al -- to pull that you -- at the -- core values.
Didn't take off.
Yeah and the worst thing is going back after the thing drains out and you like have to clean your.
Crap what it's done this is -- nasty and mean and yes so so one point eight billion I get because I mean it affected us all the way up here.
And this this hurricane will affect everybody up the eastern seaboard -- is the matter of how much Jeff Flock joins us right now from Cape Hatteras on North Carolina.
How I see everybody there is from because.
I got I did so much worse than we -- you this morning.
I'll tell you I -- I lost the car I lost the car and Floyd believe it or not yeah that was a huge rate of any reports that -- -- pay for it but I have a feeling you may have been on the hook for it but.
Yes part of it working for another news gathering organization at the time and I just said take out her car was actually a -- but lost it under a hotel.
-- upon it looks huge all -- -- condition had gotten worse there in the last just even two hours.
Well you know it's funny you we were seen the last but it's on the I think we'll see for awhile but definitely -- -- -- they've gotten worse.
You know it's pushing all I want -- -- a huge huge storm and that's why they didn't increased.
The coastal warnings in Massachusetts expanded it but the basically the whole coast of Massachusetts that topic at the track -- change -- more because.
The storm has is -- increased in size.
We had a hurricane force winds down about ninety miles we're gonna get more than that right now it's in what they call.
Eye wall replacement cycle and and that essentially means -- -- what was gonna get a little bigger and a little more defined eventually it's a little ragged right now and it'll get even bigger the storm so.
That this big huge side to this is what really is if the -- -- Well.
I he's even know -- -- now I have a name.
Obviously the unit -- evacuation -- -- in forest so is -- a suggestion in the outer banks.
Well you know here's -- here's that dirty little secret about.
Mandatory evacuations because that's what it is -- talent mandatory evacuation.
On the entire outer banks all of dare dare county especially.
The that this thing with a mandatory evacuation you can say all you want you -- close the hotels so that -- visitors have to leave.
But if you own a house here.
Nobody's gonna come and get -- -- the police are not gonna carry anybody out so they can call mandatory evacuation they could tell you to stay off the streets.
But essentially you know it is what it is you you can -- -- most of it residential local residents I think understand.
You know -- you -- Graham win earlier this morning that.
As far as the tourism for the Labor Day weekend.
It's done right because if you -- back -- and evacuate increase made the point early in -- in Jersey yeah new way back up here you certainly not an issue back down on Saturday.
So there's a fair amount of money to be lost this weekend down there because of this.
Exactly and you know I mean depending -- what else happens along the coast I don't know to what extent I'm just here so I only -- the outer banks but.
I don't know what extent that's happened farther up the coast where what their local communities you know they've.
Impose their own evacuation orders.
And so that's blown it for a lot of people and yet -- you know there's that it'll improve this thing's gonna get out here real quick.
Tomorrow morning it's going to be a huge pain in -- you know why yeah well.
You know all my life by tomorrow afternoon -- about -- year.
It's gonna put on it.
At least cowboy boots they admitted to Albania but they're not gonna make it to that -- -- I did I why didn't it still play that you Obama made it to the store because if you do that you have a whole weekend -- -- a whole -- to yourself this weekend looking.
Them -- -- And your guide you weren't saying the anger -- boots are shocked.
If not please let me say a word yet.
So we're not -- so look at -- but look at.
-- is the most fun a lot whether it's the wind tunnel but it's it is kangaroo boots.
In North Carolina paid other ASA though he's the -- you'll never get an empty beach.
But Cape Hatteras.
Duck Nags Head whatever and he and -- the cameraman are gonna have an empty beach once the storm moves through for maybe we -- awesome he distinction stays there.
Has stayed there.
That he needed he said earlier who I guess there's a two lane road in -- out and it floods -- once the storm goes up and go to get out so right so then then almost no please excuse.
And roads flooded.
I can't -- an hour here I and they get back.
Before we dynamic Kenny.
In Austin -- markets I want to tell you what's movie and ultimately it's only let's -- -- to see everybody quick update on what happened today says three pars.
From the dance is still on this is unbelievable the socket a 52 week -- take -- to -- Packard.
Bruce did software does is out of the picture now -- can even compete with this.
33 doesn't share their up to right now Hewlett-Packard offering the deals now two point one billion dollars.
Time -- are calling for part time is -- worth it.
Dell -- and they basically said it's a waste superior offer propriety can be done obviously amazing Nordstrom's in this whole retail sales we were just talking about it -- -- of seven point 3%.
It seems are still things were great for them they always are they do right but Kohl's JC Penney Macy's as you mention all did well.
Abercrombie down target -- sacks in this as well Zack says we know just get a -- reported they might try to sell themselves you know from private.
Harry Winston diamonds.
This kind of boggles my mind but they swung to a second quarter profit is their first in one and a half years but believe -- -- not a taxi and mining revenue.
Okay retail sales -- too though -- people are still buying diamond mine I don't know I don't get it.
If I ever get engaged again with spurs shoot me if I -- second.
I want a car and then I've done -- -- diamond.
It is a waste of money and seeks to keep the divorce I plan it's just the -- glued to a piece of metal as wags her is when you're done so that doesn't mean that is -- -- -- easy to enjoy the car.
We mentioned yesterday that there was talk -- they're gonna try sell itself three G capital.
Is expected to -- for 24 dollars a share it's basically double.
It's a 46 percent premium to closing price Tuesday what a sweet deal for -- the braking and now has been private came public in either.
Rare -- -- at first it was three guy is a Wall Street Journal said it was three I which is a British company.
Then the times says the PG which is a Brazilian company now prayer and next thing you had 33 parts gonna get so much money they might be able to -- The Bosnia so much money from from -- don't -- well -- -- on the site.
Yeah that is surge here -- however -- I need your abilities gave orexigen there therapeutics is a bio pharma company.
They reached an agreement for an obesity drug with a -- pharmaceutical they're expecting payments from this thing that could hit a billion dollars the stock was -- -- percent.
So those are some -- your big movers today.
You under the Kenny really Kenny is a minute ago.
Came Allegra I can sleepless nights anyway -- honored principle Kenyan capital management joins us -- is take get a hell are you.
Hey how're -- Chris what do you make of this Casey I don't.
-- this is I -- I was called at a rally Tracy would have back handed me I had three days were up for three straight days with the -- what do you make of it right now.
Yesterday it was a big day every week we looked at yesterday as they were -- breaking somebody down trends that have been gone since middle of no law -- so.
I mean obviously 101000.
Seeing the home.
Earlier in the week and then the action yesterday I mean it's it was just look at how we took Allison sure positions and we actually -- a little bit on -- -- sides.
I think we broke that downtrend a little bit there.
But what would you believe yesterday and they -- like yesterday -- -- was it a blip was at the start of something was it.
You know short covering on the way okay.
I yeah I think it was a lot of shorter have a very.
I mean you just see every time and Dallas and added 101000 that is -- seems like there's an invisible hand there.
You know we've seen the payroll number wasn't seagate and yesterday -- probably jobs.
But I mean at some point a lot of news gets in there and you know so it it.
You know we just we saw yesterday where I saw a lot of activity in as short covering it and and maybe not seeing it tends to -- some things -- -- I mean if you look at.
What's happened -- you know.
The technology companies are going you talk about free car and what's happening down only she may have gone -- behind him.
Companies he sees anything we've you know been so slow.
That it's you know we're so different period -- August and September.
And so occasions you know yes that's patients in this market you can't force any thing.
So that's that's how little we saw.
Kenny is that entirely bullish is overseeing the seven activity because one of our earlier guests -- film burger from land called made it a good point and that is.
These companies can't grow top line organically so they're looking at acquisitions in order to grow you see it more -- that.
I see is bull savvy companies are sitting on records amounts of cash and we we can share last summer off.
I mean you can do three things that cash and and activity.
They're gonna do you have capital expenditures amenities and more mature company you can see an increase is it -- is -- -- -- -- So I mean I think the Smart money saying hey they didn't go out and borrow money -- I mean in the bond market they make it to have good credit that you got borrow.
And an Intel bomb and -- -- -- a lot of competition -- I think that's the -- movies didn't -- individual investor.
You soon he -- -- to hang on the cash and bonds but and he strategically you're running a company you're sitting on a lot cash.
Actually there's going to be pressure from the investors and what are you gonna do.
Mean obviously -- -- gonna get on the cash just sitting there is not be as good indefinite tour at some point.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- But you know once we -- see that it historically it's pretty bullish period.
So that's that's what we're looking at.
What do you look at that overseas or are you are you get a dipping your toe in anywhere out there -- our I -- back here in the US.
No -- like overseer in fact even through the last month of the road as the strongest -- was kind of an emerging markets Brazil.
Indonesia Malaysia all those little cult like.
-- -- frontier markets and so even through the volatility that we saw.
And in all this mean we save lives and goes -- -- -- markets and then you know the emerging markets always like when you look at growth going forward.
And that is those countries that don't have the debt problems that we have -- to develop and the US has developed countries.
And they also they're gonna have better growth rates won't forward.
So you're seeing investors -- that way.
Technically they look pretty good.
It looks a minute charts and so we knew that it you know yesterday we -- it's a little -- of those positions.
We continue to rely emerging market debt you know if you don't want -- really did you sit on the -- come inside and there's two there's always -- that.
You know whether it's -- ETF or.
A mutual client but we like.
We like the foreign markets right now.
And that we had some -- out.
-- there Kenny obviously you want to you -- some portion of your portfolio of bonds.
Particularly what bond there is do you like -- out because we have so much talk everyday about a bond bubble.
Certainly look at treasuries and you're paying you nothing but there's certain areas within the bond market that you life.
Yeah sweet spot in the bond market is the high -- so you're getting paid away any yields 789%.
Depending qualities and -- horror or bonds climbed.
Ozzie getting paid way it's a lot of -- companies.
Some of them you know their finances prove they actually get it can get upgraded in terms they're ready.
Maybe some -- and investment grade.
It's really like that.
I don't see how unique is leading indicator of the equity markets and you saw again through this downturn.
All this and then yeah little late August that or it didn't always saw two months something like that -- also like the third area -- like real -- birds and he knew how close things weren't gonna get paid paid way and so.
Probably our prayers are Italy and any emerging market debt.
And we -- -- cagey there.
-- we love adding on thanks for sharing his shots.
All right thank you guys do you think suit -- and that's an entrance we'll Kendall capital -- -- Alice in Austin.
No threat of hurricane there just yet although there are coming -- that -- eventually.
You -- you know what also doesn't always -- Hurricanes.
The remnants yeah -- turned back in the cobblestone and you -- lottery announced they did the right thing -- the way you think.
I'm talking Diana yeah mind -- weather patterns would -- take -- -- what's that all cars in movies back.
-- it's up ten points on the day we got cars and movies coming up and a bit betrays and it's also -- actress.
-- cars particularly.
I wanted to just go through before we get into the nitty gritty of -- The best selling cars in August now the car numbers came in probably pretty dismal lot evidence do cash for -- being -- -- -- -- of congress last August but.
So it helped the clunkers I guess and that's as a result we're seeing that those cards and do so great this time around because everybody cast them in last time nevertheless.
It doesn't surprise me if need be it will surprise you but the number one selling car in August -- -- -- yet.
Big mean gas guzzling -- number do this Chevy Silverado.
I'm sorry that's another big yes given dropped and then we get the Camry -- Cordero is on the list the -- Hyundai -- Sonata.
Blew it away again blowing but the Dodge Ram also on the list looks big gas -- not one.
Hybrid Jeep Grand Cherokee also fantastic that's price are very big thing actually have you seen that one with a soft enough.
Notes nights it is hot I know you don't double doors locked up it's a hot hot car house thought Jesse called will right now director pricing industry analysis -- Edmonds from Santa Monica hey Jessica.
Hi Jack I just -- it's not a isn't Rangel -- Cherokee that I was just talking about.
Soft top -- Wrangler yeah rendered it a little bit -- area a double door -- the -- pretty just -- salt trucks trucks are moving still I don't aghast yankees get cheaper.
All but it would have what's gonna take for us to really move lawful vote still wanted to buy you know the Ford F 250 -- dual use in the back.
It's gonna it's gonna take I think higher gas prices are sustained period timer just.
You know fundamental shift our thinking because -- no gas prices have been down for quite a long time now we're past that big grass -- a few years ago.
And people I think -- having a little -- buyers of -- people that had downside because of gas prices are because they wanted to save money or because they traded in their clunker.
Maybe didn't really work for the lifestyle I think we're seeing that return until large trucks and large -- that that's what I think people fundamentally want to buy.
Yeah woman -- get gas governor and -- doesn't have recently down it's not that terrible right.
And then even the -- -- four we still seem to -- -- -- these things adding it's got to go to five or six before you make a material change in the way we think about things.
But guess we have the worst August since 1983.
Is this because of the government in meeting with -- cash for clunkers thing.
That's necessarily the case of course there's still some -- -- -- but I mean doesn't just been really sluggish and this time at -- and this summer excellent film should really take off because you're -- at the end of Molly here.
So 2010 of got to go dealerships and got to get rid of mom and they offer the best -- and still we can't produce a good number.
So I think it shows a -- bigger picture just about all the way we feel about our financial situation how we feel about the economy people just don't want to spend money in until that changes I think it's going to be tough brought himself.
So we're a soft patch with the autos as well because at least and the since cash for clunkers since he fell off a cliff right after cash for clunkers we've seen a steady growth.
Now we're in a soft spot do you see this.
Going on for months and months in I think the annualized rate correct me if I'm on just -- was right at about eleven point five million that's right at the bottom of what these automotive companies can do here in the states is still survive isn't.
Right a lot of automakers over the course the past two years obviously GM and Chrysler be big ones going -- bankruptcy.
Have -- a lot of their profits schedules and production to match lower the salt -- targets.
But I mean in the case of hoping that -- you know maybe things will get better and we'll sell look -- more cars it doesn't seem to be happening.
So you know these they're they're gonna have to still keep with some sort of competitiveness in terms of sales volume.
But you know some of the things we're gonna have to wait and see you but they've been lowered their targets but you know that little we're not certain about some of the -- -- longer term backs.
OK so we didn't say that we could -- sell a million cars in the states in August yet you go to China.
And there are still blown it out of black 56% increase over last August about one point two million vehicles.
So is that our reliant on our reliant on overseas in order to keep these companies going.
You know let's get it -- a bigger and bigger issue for our domestic auto makers and I think you know what what they have tried to do is try to make one vehicle for the entire world.
If Ford is really focused on that they called Ford one and that's something that.
You know they can do so 11 area or one region goes down more significantly the dollars that can still make up the profitability.
-- I think a global portfolios are huge.
I think right now for the auto -- much more than ever bet I mean.
America was the biggest market for so long and now we're seeing -- a huge competition from China and India you -- -- results so many other markets.
Toyota down 34%.
More a function as Tracy was -- departed compare -- going to -- probably benefited the most from cash for clunkers mean or is it that all the recalls are finally catching up with them in terms of perception.
I think recalls are still a factor -- the biggest factor is.
Tennis had so many incentive programs because of the recalls they have move a lot of the older models.
And I think what they're doing is they're running out of older models -- they can't keep it can PS competitively on the DL and other brands like he thought he's got a lot of 2010 declare I arena Chrysler sell.
I think they're kind of be left in the -- and that regarded and being able to offer good deals.
And also to -- a have a lot of old product they don't have a lot of exciting news to talk about I think that's really injuring them and then you add that to the recalls and you know you come up that number.
Just -- -- wrapped what do you think about the Fiat -- -- in the midst of all lists.
It's -- -- be interesting when I just don't -- -- act current Chrysler dodge Jeep brand that franchises.
So I think there's going to be a real mix in a cultural shift of people wanting to come in for those cars -- who the dealers are used to dealing -- then you know it's definitely it takes some getting used to for the American market especially since we're seeing trucks and suvs do so well -- not small cars look at another -- -- -- between the Silverado and the Dodge Ram yeah.
Right yeah I think I'm in -- I think I guess yeah.
Jessica Caldwell from Edmunds dot com.
And that is a debt is here's the thing with -- -- in a -- that series goes where I come from in Georgia and a -- if you had a Fiat.
You know you -- be somebody would go in by an F 250 and drive it over the Fiat while leaving the parking lot like a month plus a car.
Say there's no way that belongs here -- if you ever put another one of those on the lot and I drive by and see it when it again make a right turn and go right over the top of it with my F 250.
But another step to my -- reading -- -- you know machete this isn't makes no sense in my little minds that it.
Gas is -- were buying big cars and you're gonna introduce the clown car in the middle of an unknown.
You really thinking.
That you're that you're the Italian if you can't afford a Lamborghini or Ferrari and by the -- -- although I was gonna save by the firebird with that he tops which is what you would have done back -- well I actually what I was gonna say -- -- you know we had to wrap.
The Camaro -- -- -- the that sounds and I think all our.
-- -- that is new is right now Hollywood dot com -- funding were going from cars running.
So as we were just talking about cars weren't so popular here at the end this summer how was it.
-- the summer for movies.
Well this summer was one of the most interesting ones on and on record and that's because there's major discrepancies.
One of the highest grossing Summers and in recent history as well last.
One of some of the most tickets sold but but attendance is down on the same token people aren't responding to the films that are coming out as of lately.
I -- revenues up there making more money -- ticket prices are higher.
But they're making it -- the less people right and the reason for that is raised ticket prices on 380 tickets and IMAX tickets which there was a plethora of them in released this summer.
That's good and bad good that the industry can't raise prices that's always positive is than -- -- economic standpoint.
Bad and that you can only raised -- so much you still need the volume of people coming through the turnstiles so.
Where do you think we go from here do we have -- on the horizon to where OK now we can finally sir see people coming through again or we gonna have to keep -- those prices up yesterday.
Well we certainly the consumers are the ones that really -- and in all this in that this boo the quality of a lot of films was down.
Even though you know we had -- record grosses come that's not to sit there aren't any winners and losers this summer there they're pretty clear to identify.
Sony Pictures for instance.
Put out about five films all of which grossed 100 million or more at the domestic box office.
We have will Smith's the Karate Kid.
Starring his son Jada Smith which is on all about over 320 million dollars worldwide.
They've also done have been very successful with.
The other guys which just made a hundred million dollars I -- yesterday actually before the Angelina Jolie.
It's spy thriller salt.
Also did about 250 at the global box office so.
There are some some winners definitely hear some of the other winners will be animation animated films to very well our office -- -- not necessarily critically planes.
-- I thought I had yeah.
So I saw a bunch of them and you know even my kids have been blown out of four -- you know we still cats and dogs that.
There three times this summer I've wanted to go to the movies and -- couldn't find a single movie don't want to see not one that I would even say that sort of but now there are a couple of out there Clooney's new movie the American political for the CNN.
Obviously movie it's like.
Desperado and all like machete machete -- from that -- really wanna see that it is and coolest and I didn't.
-- and I believe that the Labor Day will be -- pretty lucrative time for the studios that he said you've got three major releases George Clooney's the American which is getting stellar reviews of you've got machete which is more of -- genre -- that should do modestly well.
But I think that the winner's going to be Warner Bros.
going the distance which I actually saw -- -- it's a level headed but lighthearted romantic comedy.
But I think it's gonna have a lot of legs and it's exactly what moviegoers I think I've missed this summer there haven't been a lot of very good romantic comedies and it's good to take your mind off everything else that's going -- Eat Pray Love.
Got ripped apart and I didn't see it I read it and even the book after wildly at our rhetoric.
But what if this is -- in your notes with the losers he said -- was a loser yes.
Movie theater chains and Megan Fox last night and mega -- Megan Fox disagree with you on that well she can't you lose it because like not with me.
Unfortunately the numbers in the news tell the story here in the numbers being that Megan's big summer movie to -- -- -- hacks.
Kraft added about ten million dollars of the domestic box office and here we heard.
-- can't -- actually came and lends itself at all arm and she was also dropped from the third transformers film which is with her basically her hallmark.
Which is currently shooting now as she will not be appearing in the next year's suns didn't -- not even appearing in enough -- to draw on -- he's not.
Involved there's -- -- it's actually Victoria's Secret model named Rosie Huntington -- we will -- -- I'm not sure she's replacing her role or just is that if it's an entire new role.
Like she'll be working with Shia LaBeouf on the film.
-- -- It's actually brutal.
It nutrients and need to be done about the media -- down I was supposed to be the new thing everybody wanted to be into reading out the media is down to three he is is down but not all 3-D basically.
Posts post production conversion -- 3-D films like you've seen in clash of the titans what you saw on the last there -- both films -- ravaged by the critics regardless but the 3-D which wasn't shot in 3-D like avatar.
They were converted in post production.
And it -- -- it's just a very flat.
Display where it all comes down to it and it doesn't look as good.
And audiences know the difference now they've seen avatar it rocked everybody's socks everybody loves -- they want quality 3-D they won't settle for anything less.
That's one of those the dying trends I think now don't get me wrong -- we'll see around.
For a few years to come but I think that if studios don't take the position of spending more money up front shooting in 3-D that they might lose out on the back end.
Makes me -- just so I cancer three day.
Quickly before we go to break must must anticipated movie Wall Street what do you think about it Wall -- going to be very good it's -- benefit from the -- factor the original still relevant it's great to great film and the topics that will be discussed.
Are also relevant today with the view of the the constant state of flotsam and although the stock market so I do believe that.
-- benefit you know you've got your Michael Douglas back there you've also got another Shia LaBeouf film who is high at the moment Forbes is named him the most bankable star.
In the country right now so I think that -- sides definitely going to be a big film has a couple of other notable releases including Ben -- the -- And David Fincher the social network which is getting early Oscar -- already have both of those -- wanna see is well.
Danny great to -- thanks very much thank you benefit from Hollywood dot com that's a quick break we're not done yet -- we read and seen anything from.
-- -- -- And welcome back -- the dot com live Casey -- this -- there.
-- -- -- and the Internet and Twitter FaceBook Evans has an amazing place for all businesses these days women in particular coming together sharing their thoughts share their ideas and eulogy Kim is the founder of save of the success.
She is with us.
And -- you -- and that probably a year ago -- yes he had a skin care line called on her alma yeah I still have that OK you do and you your husband decided.
We can't fear I had to get women intelligent women.
Exactly so my background is on a concert pianist and I may have launched -- -- this pressure -- think Caroline I didn't have my MBA -- I didn't have the experience I never worked for corporation.
And I found a lot of women in the same boat.
To so many women have launched businesses I think between.
In the 2000 like between 200200642%.
More women had launched businesses.
So it's tripled and so there was -- need you know for people didn't want to go back to get there NBA's.
And they were starting with hobbies and they're becoming serious businesses and I thought wanna win once you know I'm really cutting edge web site where these women -- we can get together and learn from one another.
It's exploded -- -- we have more than 101000 online approved members now sell.
-- I -- see -- you can make money being at that concert pianist toughness -- -- -- will think yeah certainly seeing here products yes consumer products would have.
How do you make money on a website nowadays are so many of them out there exactly hate -- -- for profit.
Yes okay so would -- the success we offer education and we offer PR ops we offer celebrity gift baskets.
And we we offer things that -- in an entrepreneur or -- me and I'll tell you I was thinking that exact same thing hit the nail on the head Chris when you said.
There's so much out there I think people are inundated with too much to make products too much information.
Your -- just hit with advertising all the time.
I'm so you really have to build relationships I think this is now the time we step back and you -- them Vermont mom and pop thing we actually really get to know your customer it's personal.
I think there's a backlash against the too much information I would totally new idea that sort of you getting your customers right now it's you you just tell us how many you -- Now that becomes one more difficult right well I mean mentioned the website person -- the success dot com and we have monthly calls I try to really get to know as many people like 10101000 is a lot.
But we do have a premium membership level where there are fewer members Wear these are more serious -- on -- -- were inching toward the six figured that seven figure mark.
And we -- time you have to yeah.
City for the premium it's 49000 -- to be part of the premium gas you put I mean basically you're paying to be part of the network consists of exactly and I don't think that put a price -- that many would argue especially if your starting out.
Exactly I mean networking is how I found my husband networking is -- -- Was able to yeah that's.
Don't that you wanna stay with -- yeah.
I would say the magic happens to other people.
Silly you starting class is what -- you offering in the future as an -- it's a -- you is launching in the following September's they -- you know down.
And we're launching bite -- courses on Twitter on FaceBook social media.
Marketing how do you find your target market how do you get your product out there the biggest problem that women entrepreneurs have -- -- faced with -- here all the time.
How do I get my message out there it's such a noisy environments what do I do until we teach women how they do that in a personal and sociable way.
A young football team -- civilian death not that.
Since -- one last thing real quick on taxation on the minds of everybody uncertainty about taxation are you hearing this is well from.
From the 101000 people now if you have customers to say I need to know about -- -- what I need to worry about next year.
-- of course and but to take a little further with all the taxes and all the fees that business owners are hit with.
You know it's just interviewed by the fiscal times and I was telling the journalists.
You know here I -- creating jobs for our people employees.
And we're taxed like crazy you know and it makes it it's almost a deterrent why are we as job creators.
We awarded a little bit -- that and that's ideological.
It's seemingly logical way to live in the CNN success dot com check out the website.
And -- he can thank you for being here again we'll have you back again keep us posted 101000 and -- open.
We got a Dow that is.
Well black it's positive development in -- prime time we'll take it had a great day it would.
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