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Having my other -- dot com I Chris got -- It's right it's okay he's -- -- -- -- do that though happy Monday that -- -- -- happy Father's Day.
-- -- the in -- home.
Human happiness I know I got a case of the Mondays that's the problem right now where all was 86 point is happy with your bearish with a short I don't care you'll be happy anyway.
Monday -- -- and think yeah.
We -- can.
Continuing with a little bit of a -- -- you call -- momentum rally here where the last four or five days we really seems to not wanna go down wanna go up.
Good news I guess you could say good news -- -- -- over the weekend -- this.
-- at -- aren't really plot.
International markets -- over in Asia they were going crazy Europe was higher by over 1% in general when we opened it.
-- a little bit of that.
And you gotta wonder how the short lived with her you know how long -- -- in the last -- -- -- to realize what they did basically shyness and went along Winnipeg are on to that dollar.
And so everybody.
You know wouldn't -- hats everything that you.
Now at the end of the day what is -- still gonna help the commodities probably.
Right because now China has a little bit more leeway to buy stuff for their starving people so -- -- do that but it.
After that I'm not sure what it does.
-- -- -- and basically here to help on manufacturing base supposedly he agrees to be very happy about that but the consumer also won't have as she put a product from China so that some of these sort of was six and one in half dozen in the other.
Well Michael McCarty is here -- this managing partner differential research.
He saw that Tracy and I had computers so they brought his own.
While he -- for research -- he's got to have a computer with an at all.
Book isn't it -- -- -- talk about those top console -- we have left I want out.
It's right longest -- the year might lead.
Every -- -- highest it's ever feel like.
And you make much of this whole situation with China because it that we you know everything we have the memories the -- called voice call on what will now we got it.
Is again make that much of a different look.
-- to think thing I think it was well telegraphed.
And not only that if you look at the currency forward markets.
It's underwhelming the one is only up like 2.3 percent it was up point 8% prior to that.
So the rally in equities seems to be little overdone when you put it in now perspective.
You know -- was out over the weekend talking about how ironically it could actually lead to want to valuation relative to the -- So I I think it remains to be seen but again not really unexpected.
Okay so we're coming up -- -- -- twining you know there -- other -- is talking about this week things can come out of that and as a result of this move from time.
Again not much had you know proven 11 less thing to complain about -- -- Or I'm sure that will will still complain that they're not on a fast enough but again I'm moving the boundaries but you know if it doesn't trade to the -- -- -- the boundary.
And really is that a boundary at all like that it's nice to see -- -- float in as a free market guy we don't like artificial currency.
The end of -- -- I don't think it means much.
Fit with so it doesn't mean much for domestic producers we'll say that consumers here in this country.
What's going on in China is -- more disconcerting that we may see slower growth should that be what we're more concerned about than the value of their currency.
Plus one on a list of I think that we should be comes concerned about and I think China as the place we should be the least concerns.
Probably still the hot better even here and it domestically.
This will slow their economy a bit but.
They're -- fills one of the fastest growing in the world and it will remain positive.
So even -- may not grow it.
12% or whatever they're claiming it's gonna cut it.
You know what about the other point do we really believe -- you know it's sad that's that's -- wealth growing it and -- was it ideally -- it was food at 6%.
10% 12% it is growing it's gonna continue right.
And you're -- Bars for his belief that -- anything out of time but you worry about.
Yeah its effect on China if Europe is broke and some of the countries are entering depressions.
You worry about what that does -- time is.
Of -- well enough there really -- question you know here domestically and we've sort of exported to Europe we nationalize -- we've we've basically gonna put -- -- on the taxpayer at the end of the day.
From -- that's 22 sovereign risk.
And ultimately what happens when these sovereign risks start to crumble and in Iraq now looks like -- would be the one holding the bag.
To the greatest extent you know maybe maybe that's why they've been hesitant to diversify quicker away from the dollar -- ago.
-- markets right now I mean you mentioned when you first came on the media up today -- -- up just slightly over the last 34 sessions the feel like we're maybe trying to put in that bottom or maybe not yet.
Well you know what we have two things going on right about now that are are really the focus you were sort of in -- never neverland in terms of news you know we've got earnings mostly bump behind us.
Very soon we'll start here probably pre release economic data for the most part has been negative but on that we're at a point now where everybody expects the data to be -- So for the next few days who really -- are just.
Sort of drifting.
With that and with that it without anything else.
Hang -- -- -- we look at the technicals and again we're sort of an in between.
The ports it's too hot to cold -- right at the 200 day moving average -- about it today I guess.
Or rather the fibonacci level for people who believe -- for the Nazi.
We've corrected our a lot of the losses and that we incurred.
Both -- for me you know I look at risk -- -- -- volatility.
I am happy to see the volatility has -- has gone back up essentially I think it was artificially low.
In April march.
The reason frankly I think with -- do with high frequency trading.
I think what occurred over the last month with a lot of money came out of the market came out of the risk trades like we know.
But the next event Thomas I was -- thing is going to be the quarter end.
The question I have is beginning next month.
Are we gonna hear -- hedge fund's closing the doors either because of the volatility.
Or the removal of the tax benefit.
You know how many guys are gonna say you know -- -- it's just not -- -- anymore.
And the ironic thing is we will not know until the close the door.
Being in the business as long of that I have I know you never tell anybody believe in the business because you people quit calling.
-- bids aren't good.
If you hit it can really make closing the door very differ.
-- decided pampered self funding for it for that reason alone right he wants to get out before his investments gets.
Get -- -- this probably see more of that.
Absolutely I mean that -- it Toobin good -- points there one is the individual taxes are going up period and -- tanks.
But you also have the carried interest benefit that hedge funds and enjoy it.
Probably being taken away as well and one other factor we have a lot of internal -- sponsor hedge funds that are correctly financed by banks.
Probably losing -- source of funds in -- so there you have the potential for two large groups of investors to need to.
Closed source get rid of patiently.
And that could create volatility looking forward we don't have any volume and for a year and half -- insane it's no clients no fly in his own mind.
Those at the New Orleans today while not saying that because now that -- that we're seeing is the volume that we're gonna get them well I wrote a piece.
Couple weeks -- what we should have learned what what we -- Learned a -- And -- that's what we should have learned a -- that seems like we're forgetting a very quickly.
You mentioned low volume the flip side of that is 89% -- of that volume is probably.
Electronic high frequency trading for the left and we didn't learn from the flash -- alone now with.
With trading halts.
In effect for at least -- he thought who won't have the the broad market.
Opened down a thousand points in a few minutes but.
We still are at the risk of computers -- -- One very interesting factor about high frequency trading is that it is easier to execute a -- the -- order.
If you think about it electronically -- by is to how the buying power.
-- sell order as to how the buying power.
Can I locate the security.
Solid so those three -- its 50%.
More time concerning.
And high frequency world tickets which where the biases and if you call back you know at the end of the 92000.
We have a market run amok in OTC stocks.
That many people attributed to the it's those -- And the way OTC market makers of the time -- markets and so is likewise -- a benefit to them to buy sides of these stocks gap up.
Rarely got down as a result so I I contend that what we've seen -- the high frequency traders.
Which fall into two groups if you've ever gone to meeting of the high frequency traders they essentially do the same thing for -- and it's that.
The other group are at the ETF.
And so with the -- -- the they've been up the Sox -- -- -- -- TF conversion guys come right behind them and sell the stocks by the ETF so the drag the market up.
And that's why for example -- April night we had a period where the market seemed to go up.
About point 8% every single day we had 8% volatility which is.
Unheard of and I thank again the reason was 89% of the trading with these computers who have a -- -- -- The upside to this point -- -- -- money on the sidelines right now played on Smart guys who would -- this market -- you know we're willing to win when it's soft got involved and you know now all the people that that are very negative you know.
Such as myself.
On the sidelines -- and he can look at look at what gets into every day I mean you know Tom entertains that it -- the market to remain irrational longer than not permanently but.
Kids at that point think that -- and Mike thanks so much for being -- I think my welcome Mike McCarthy managing partner differential restarts.
Certainly -- -- for a long time Chris.
Is he unknown to you right exactly -- that I'm glad it's at the big black box in -- little she looks like you and I those.
Of those moments -- point eight every day point eight -- when it is let's -- constant improvement big drop in the point eight winning and that's sort of the the pattern I think a lot of people are expecting to see.
All the got a lot to get -- today at a very important show big show for a Monday.
-- market is all that's exciting news got a lot -- -- from the gulf is thought to get to.
-- -- -- -- I think I am most excited I've been on Monday.
Months how much it.
-- -- -- -- -- I looked back but this is dot com like Connor burns Monday 73 point outside.
If you -- you're happy.
I'm not sure Peter Barnes is whether he's bullish or bearish she's got too many other things to worry about right now like how people are getting paid out -- In the gulf let me a lot of people Peter Olivia lived there or not are very concerned about this and wanna see these payments go out quickly -- how.
How are we moving along on this even though we're only about a -- and I even a weekend.
Power here to find that out Chris we're down here in Houston Texas the headquarters of BP.
Because Ken Feinberg the pay czar for Iran -- the Treasury Department and all those government bailouts.
Is now becoming another type of pay czar the president has put him in charge of making sure that all of the claims from the BP oil spill in the gulf are paid out.
After the it company agreed last week.
To put aside their twenty billion dollars in an escrow fund to make sure that victims of the oil spill are compensated.
And so Ken Feinberg is over at BP right now.
Meeting with BP officials about how all of this is going to.
Move forward he is going to be running the independent.
Claims process we're gonna get details about.
All of this when we interview him in about ninety minutes from now here in Houston.
Peter he's had a history of doing things like this I'm presuming the anticipation is that he'll be fair I mean he was in charge of the 9/11 funds he was you know exceptional right -- during that at least that's what he's known for.
Like at I presume that's everyone's anticipating at him coming and going forward.
Yeah -- and that's exactly why the company and the president picked him.
He he as you mentioned handled the the 9/11 claims process -- seven billion dollars -- -- had to be distributed to the victims of 9/11 me also is handling.
The that they claims fund for the victims of the shooting at Virginia -- two years ago -- he's worked on the Agent Orange orange claims process so this is a guy with a lot of experience you've got a lot of high marks and praise for the way he handled the nine elevenths fund which of course was enormously controversial because it dealt with compensating families.
For human lives people who work who lost their lives in 9/11 and so.
I Ken Feinberg guys is definitely the man and that he has all the a lot of experience doing this so it's expected that he will be able to get this process rolling pretty quickly so Pete is on Fox Business now it later on today what time inspecting the a CE OMR Feinberg.
We're going to be talking to him around with 1:30.
Eastern time and that assumes that -- everything you've been goes on time on our end so about that time so -- stay tuned for that.
But -- -- thanks Peter thanks Peter Peter Barnes and he thinks Texas.
Waiting to interview mr.
About his new role and now we get out of Montgomery Alabama -- this this actually intrigues me Ron Jones is with us attorney -- Beasley Allen and head of the firm's environmental law.
-- and so are its pleasure to have you with us because you -- have a history.
In all this in particular I read in our notes that you won at.
-- substantial Exxon.
About -- case recently did not.
I'm here we had a case with Exxon where there was multibillion dollar award over -- gas -- -- -- -- so we have.
Certainly -- -- down we have experience in dealing with all the major oil companies.
Does the does the new yet experience -- that is knowing that this can take a -- how far down the road are you looking at -- do you think.
Are you just estimating that this is gonna take before plays itself -- -- given your experience that side.
I don't think everybody's optimistic all companies can be difficult to deal with -- as -- mentioned.
Feinberg can speed the process up -- -- and transparency to -- and some independent nature to it.
You know I think -- thing that we site would be speculation as far as -- Friday but I think we all hope -- can move forward as quickly as possible.
It was a twelve billion dollar verdict.
With Exxon and safe from sharks -- Can you talked -- -- about the timing of all this you know it's me it seems almost like people jumping the gun on the lawsuits.
You don't know how long you're going to be -- -- work I know your latest suit is -- diving company they don't know how long.
They won't be able to dive in the water so so how do you put a price on something you don't know.
Well thank you continue to calculate the damages -- -- -- but at the same time we represent a lot of businesses and individuals who are really hurting.
Their business is evaporating before their so.
Many costs did not want -- way -- -- -- -- and get the process started and given the link that these things normally take it's hard to blame.
What are we talking about in terms of number of lawsuits that your firm is filing right now.
We -- non thus far five and Alabama -- in Louisiana two in Florida we expect will be following more this week.
We filed -- class cases and some individual cases and generally when the -- wants us to go ahead and filed -- case than we do so.
So -- -- that was interesting so if I'm a business and I believe that I have a case.
I should -- -- even though I don't know what.
What the final.
Money owed to me would be -- is basically get myself and -- Q was what you're saying.
Well I guess in -- way I'm -- that but I think what I'm really saying is it Beasley Allen we've taken the approach that we're very client centered.
Represented businesses for some years even -- our environmental war so.
You really have to do what your client -- you do and some clients would rather wait and see but other clients or businesses fall apart before their so.
They do want to go ahead and get something started and see if there's some way to get either an -- payments or.
The process moving along.
-- that the volume of lawsuits.
Twenty billion dollars this escrow account that.
Everybody wants paid out very quickly is this open up the door for quite a bit of fraud because we have such a high amount of money to the large number of people that want that money in mean we're trying to get it out as quickly as possible.
Well I don't really think so I guess you could always make an argument that if you have a large number of -- that there could be some fraud but.
It's been our experience -- mr.
Von -- his firm that they are.
Very detail oriented and they're gonna set up a process.
That is going to be very fair to claimants and compensate those who deserve -- and we -- if you will those who don't.
-- you feel like it's enough money that three billion dollars that mr.
Feinberg is now going to run or should they put more aside.
Well if our them -- put more side I think it's definitely a good start it's a step in the right direction depending on the details of how it's implemented.
You know even as of today we don't have any stopping the flow.
So I think that we're gonna have to see you win they stopped the flow and what the ultimate consequences on.
-- I would guess I would ask you in and maybe just.
The -- -- general that are working with all the claimants down there will you seek damages above and beyond.
What the government says you or your claimants who should have my guess my answer my question.
Well I think we're gonna -- represent our clients who are full of stability and we're gonna try to maximize recovery for them I think that's what the businesses expect of us.
Many business owners enough -- to have said just that so.
Form the claims.
Process takes from mr.
-- or whether it be an adjunct to.
Lawsuits or whether it before in the way of what the ultimate fund is we wanna maximize recovery for our businesses they they deserve that.
In big picture and how do you feel like the cleanup going so far -- effect that we can't figure out how to shut that thing down.
And the ancillary.
You know the ancillary people are they handling things properly.
Well it's really hard for me to say for sure I'm not there every day as to what they're doing in the calls are being asked to make.
I will say that is incredibly difficult situation once this much oil is allowed to spill or spew into the gulf.
I think it's going to be problematic as to how you clean it up and how you keep it out of certain areas I'm I'm reluctant to criticize.
Anybody except BP knowing that they're the calls of this bill.
And if they had had proper plans and things in place that they would have been more prepared for this catastrophe.
Yeah I think I was -- my next question is it just BP that's the focus is an Anadarko Transocean.
Some of the others involved -- you really and more focusing on BP.
Well thank you hit it right on the head we're focused on other companies as well BP I think is -- my culprit but whether they Transocean and our camera on her.
Halliburton certainly we're gonna see how things unfold as more roll those other companies had but I think everyone is like an assembly at this point that BP.
-- some major shortcuts and made some horrible decisions that -- impacted thousands and thousands of lives and businesses.
Ron thanks so much for sharing -- house info with us as I said the civil lawsuits.
Thank you think Iran.
Ron Jones down in Montgomery Alabama attorney at -- town and head of the firm's environmental law section and again they won in twelve billion dollar verdict.
Against ExxonMobil for breach of contract and -- com.
-- you know we made sure that we got that number right believe he knew that that number I know it was -- not as outlining yeah I know I know but still twelve million dollars.
But I mean.
Might -- was.
He's the only but twenty billion inside these guys -- a twelve billion dollar write what we -- issues yet we got problems.
We don't have money.
Yeah I'm sure they love that.
What what -- player on the other than that probably knows that's okay well -- -- I had was how I flip flopped on a story I read so I've read this story about.
There is is out this -- about how they're using popular cartoon characters on foods that are not good.
With a clean and a good lake you know fruit roll ups and stuff like that door saying that these -- on the US -- historian US news and world report today.
And now the advertising that frame rate and everything's that preying on the care.
My initial reaction is stuff.
Yeah but I don't like you that you're not happy about it don't buy -- -- the flip side.
-- doors on yogurt back in the day my kids would eat anything with -- honestly could open door on broccoli they would -- -- -- and to read all the comments I found really interesting inning they all all the parents were coming down on the appetizers.
And there was.
And actually get this.
You come home after work you're exhausting you have to stop at the store for something.
You kids have an attention on the floor because she wants the door and -- -- two things that -- -- sent to the dentist in the next ten years him you don't want to have them.
-- Sony and hired I'd take it even he can't doesn't have -- -- -- -- there.
And that's what happens and so we actually do fall victim to this so now how much less common side of the parents coming down on the advertisers.
Among gonna say anything.
Because you are a mother of 3 and I am not I childless and if they sent -- but if I say something.
Thank you thank you -- not -- say they say don't but say -- -- -- all I'm saying that point I guess my mother and father whenever really tired.
I get through all kinds of fits -- -- -- be shocking gummy bears up in the end it was note if you get it.
Now it's different now why I didn't I am tired it will be on the way imaginable and equipment that was possible target on the -- -- 5 o'clock.
Nine times out of 101 of the happily married stayed home.
You know I'm a single mother -- -- happily married at the side so I'm digging all three of them with me when I come home from work and all men.
Sneak I think a crack cocaine sandy -- obviously -- just be quiet you're.
It and it isn't even the kids it's -- That's all I'm saying it is my mother was a stay at home working moms who worked.
Just with -- tonight at -- five kids those -- -- -- -- what you get over -- -- put that down by all day long so with you though it isn't that way with you if you're looking at me.
And Susie and everybody else that we put -- think -- did you know -- what would you shut up over there.
You're doing that with us all day long that's making you -- And then let it coming into my kids I'm getting them crack.
Because -- -- slam magazine why does so much and spending all day with us you really like not again it's all I think he refused to be happy if you -- -- is that again.
What this show and I'm ecstatic we got a lot when he gets -- wouldn't they let the market is up only 64 points right now though.
We have twice as much.
Just a few moments ago they woods.
Dot com I think he's -- are still happy even though the Dow is down to 64.
I'm a little less happy I don't know I don't I love that story filled my -- that's right but didn't break.
He's human he probably.
I'm happy and we just -- -- -- Molinari I think this and again.
Tackling pizza -- well.
If I'm we call I'm not -- thing.
I would say Kenya.
-- yeah I had I don't like -- in his lap and I don't like that it's not pizza and isn't an and they try to help them you put.
Pineapple and high.
Money to buy pizza hang it out second water they -- their second quarter expectations.
As a result of the past couple months -- what he wants ample.
It's -- you know what -- suburban.
USA is well who wants it that you feared a look you know and I think well to do -- -- in a suburb of Kansas City you know whenever you want California Pizza Kitchen.
Why could you can't get good -- yeah yeah yeah exactly I -- didn't -- -- like a sleazy bit from from all these something like that.
US steel on the other hand is now -- all these worries about this economic slowdown in China.
Double dip recession apparently it's run its course because all the steel companies -- -- a nice day today US steel.
Steel Dynamics AK steel all.
Up moving you US steel up about -- half percent.
Same with the material stocks Alcoa being when he big -- about 7% now get China announced plans to allow more flexibility with it on an exchange rates and all that.
So that's helping things you know but she got Alcoa Century Aluminum.
-- this morning -- that report accurate copper and gold that all the metals and commodities all doing really well.
But rumor that we get little and they activity today by Novell is gonna merge with -- pharmaceuticals.
That pharmaceuticals are actually gonna get -- -- special -- dividends at what was interesting.
And then bio bell common stock in exchange for valiant comments -- Evelyn.
Didn't have time to see is taxable with their possible.
And finally American Italian Pasta and this is this is Sicilian -- me this.
You know like the I don't like to -- -- -- if it was Italian American pasta.
But that make it Davidson's IA APC as opposed -- what's happening the American Italian Pasta means right Google.
I'm -- -- that's exactly right hecklers are our weight.
That think garbage you re on spaghetti felt it wouldn't be the garbage but I yet -- silly I'm skyline.
-- is what it is.
On spaghetti in any and Ralph core.
Agreed to buy American tank -- What's not -- doing.
It's supposed to -- brand does and that's that they think are forward well who who won't pose an American it's time paso -- post route for -- owns -- the case -- -- -- to expand because and I do and they're not -- and ending with zero o'clock on cereal -- cardboard box that.
But what is post -- post they know what they used to make this is the prop.
The fragrance -- post -- -- interest anonymity freaked out because the cute little bear was selling singer -- to kids ninety deposed.
Super honey crisp or something like that because you want to have sugar crisp.
You know at the same thing with a gazillion pounds of sugar it.
But you know by the way you don't proposed raising -- -- -- with -- has the -- that are.
Does that have raised brand -- much -- -- it back and let it Cuba met people yet post account any reason rate raising.
And the rest fundraiser rents out its alarm was -- melts together and post doesn't what's in -- -- lets me out it could ever get -- -- that.
Like blood preservative keep -- -- for twelve years at.
I know we'll never know I don't -- -- -- anyways tells me is here with -- now he's got -- -- -- -- in the market for him on the Wall Street strategies and also on the.
The company company for united way damn good I'm good you guys know that the -- guys that reactors Dina Merrill.
Yeah yeah her mother's from the post.
Fortune her father's from the EF -- fortune.
In which became an actress yes the father illusion of more competitor he said Merrill Lynch -- that's why she used in America.
Yeah stock information.
-- you know you -- -- an interview many of those some that feel left field.
Well now I still have garlic capital -- yeah exactly that FF acting thinks Americans don't know Jack they -- -- -- All right so what you like.
Some interesting stuff today yeah -- mix -- -- three guys that would be a little bit of a curve ball Andy you guys got my notes down and look at.
-- -- down the.
Oh by the way there's less picks few weeks ago really rocked and that that did the price Priceline and the next -- -- give it to our subscribers we already took the options.
But can you wait a little bit about what what we've seen over the last you know week or so we've really climbed out of the -- then much -- -- faster now.
-- they -- to must confess but I where we're back into that rationalizations mode you know because.
-- can got to be good one every day expectations are low and in Ellison.
The market can go up on silver lining through -- green shoots but we also see that when the market goes up on how vulnerable can be and what doesn't take a lot to knock it down again.
Ultimately we see -- and come back into this is when I'm gonna feel good but -- still -- and try to -- these waves haven't seen them I don't know what happens in the low lying -- lined up and up 180 but no volume but the money I would through -- and a cat -- to a catch and a silent we -- see -- that.
Better that investor keeps -- and spoke differently and in fact -- We get your I gotta tell you guys you know I just it's hard for me is really frustrated because you know my service we deal with investors and today for instance we simpler to take profits of -- Huge game.
I'm look at the one guy took a 15% -- a few weeks ago so I had you know one of my that's Obama because said he was seems to free the whole.
To the point that you're making but they kill themselves because they always think these incredible losses.
And it's not always two weeks later that he regretted but sometime a lot of times they do in the regretting it.
-- a lot of fuel for the first time in investing lives.
Try to catch falling knives in the fall 2008.
They saw stock that -- -- that they wanted to you and it was down 1520%.
It bought it it got down another ten it bought it they averaged it dollar average in lower and on the sudden it was down fifty.
Percent -- was only a handful of people like that but I do believe that people are scarred from that crash you know in other words they're saying you know what.
I rather -- -- down 17% I rather take this loss of revenue MB down 70%.
Right in the be quite honest with -- a lot of people are still very worried about the administration the policies of rules.
And and that's what I hear a lot from people a lot of people say that the call me a couple years -- of the new president like though you can look like I can't afford to cover isn't implicated but.
But that I think you.
I mean that's it and that's you can't afford to lose again and so as a result I'm not willing to take any chances classic some employees they are -- in the eye your right -- unfortunate that taking losses anyway I think they're relegating him.
But they're just it's just the crazy thing and again they don't buy into the market makes a nice move to the outside you know -- know what was buying on weakness over the last month.
And now people kind of look around it's the same I don't know why it's human psychology not -- I think it's because you also have people -- -- -- -- -- She can't find hauled -- I think people -- almost micromanaging you you can you.
Well you know what the last -- final was was off and obviously did not work but who knows we might be in the beginning of buy and -- you know what we're going to be ten years from now.
And there are certain stocks like were talking about serial.
General Mills you've -- held that stock over the last 1015 years you did incredibly well.
But of course in other than -- -- told that -- of the big time winners of us seniors that are a fewer fewer.
Violence is -- about great companies like Microsoft was Microsoft unless -- -- not -- have done nothing I mean Microsoft -- where was ten years ago so you're you're losing money.
On on a great and investing in a great big huge company with billions of dollars in the next.
I think -- put put in the banking get your -- to protect and.
-- those of those some of these stocks -- you've -- behind like an IBM which is actually done okay but.
You know that's -- that's a great point then you still have to buy stocks that that are growing.
Not a big payments are ready but are still finding ways in this some companies get so big they hit a brick wall -- those -- Google me Google what was 700 -- desktop.
You know it's still more listening -- Wilson -- now.
I what do you like today.
Cyberonics is wanna like a lot I'm not -- I mentioned to you guys before they.
They actually attack a lot of problems.
Through medical devices in other words they do have a product now.
That uses a -- devices that gets electronically stimulate parts you bring the fight up let's see.
But they also think it has incredible potential for depression.
And it's done extraordinarily well in in.
And a lot of studies and it can also be used for a lot of other things maybe they can find a way to curb your appetite you know so it instead of taking these -- just electronically your brain.
Shut down the party your brain that says -- when he.
So you know look to the stock is up there's been much higher than this in the past and this is very volatile but.
That this -- up the -- of -- potential that the vehicle ran Grand Slam but it's a -- market cat.
Right well that's it took a toll for all -- stock right now I -- at them the total market cap is still relatively low it's not a big company.
But they are doing well and there are some demand for -- products Harman International Industries you know speakers have -- to tell you have a card and speakers right yet.
Sort of wrote a play to an automotive industry coming back.
You know you don't know what's car companies gonna do the best but we got -- actually see.
Sales go back to sixteen million a year what we know they're -- have speakers in these guys did get a big chunk of that also execution has been fantastic.
Relatively cheap in terms of book value -- just about as bad book value right now as beautiful.
-- -- beautiful gown and all of that recently it seems to be nice and if you pull -- a five year chart you can see that the stock is that want has been substantially higher in the past it and so when -- automotive industry crash so that the stock now it's coming back.
You had to -- -- I mean from 20072000.
Every bit firm downgraded the stock a couple of -- now so five years ugly yet yet.
But -- -- -- -- see how hides then that gives you an idea of working possibly done.
And ate out a powers you know one of these -- alternative energy plays I get killed in this stock the last -- did it.
But it's down.
Things that they had a pretty good earnings imported or more recently.
And I like to restored here what type of alternative they do -- solar and that Chinese based company but they in the orders and I think happens with Chinese case wind and solar companies I don't know you know I mean the president always talks about how they're ahead of us think of that you're seeing two guys even in America a lot of the wind companies that we have our our companies come from overseas I don't Arkansas.
Let this thing down their men they've been monthly -- and some -- to these guys and tax breaks.
The Siemens and a lot of other guys -- -- locate them you know really an even a big wind farm in Texas that that -- -- huge wind farm project in taxes.
Is mostly Chinese rivets or even a lot of the companies that aren't here are still far come companies.
-- -- this on on the flip side is not so pretty it's been down you -- you feel like you can turn itself around.
I do I mean I'm glad you mentioned because I would have to caveat that it is a high risk I didn't you know by the way you know I spent twenty years -- Mason Dixon line and -- -- Look at that at.
You being hit them yeah I was -- Tracy.
Yeah I know you it's so funny -- but I'm pretty good I'm pretty popular with the red states.
I'm dumpster and yeah every day I walked outside to three people thought I mean I mean -- -- a garage is only half a block away.
And they're so -- men -- from like Idaho or.
Anywhere you know be anywhere besides new York and California and they throw tomatoes -- They had just beaten against letting.
Are with what -- -- third call our -- let the.
The three months -- -- I think that cynically funny.
-- playing time in my mailman.
And that I'm a closer -- you know there's return there's I didn't -- You know whether we're different and -- with a group picked him to.
You know me and let them.
Live Chris cutter Tracy Byrnes we are 1240 and East -- 940 on the -- good morning to all of you out there -- 62 points was up a little bit Ireland we started.
But it's green nevertheless we'll take it whether it's China are currently when he rumbling -- announced its patent take it going -- DC right and James Rosen.
Is with us.
From the Fox News Channel talk -- us about the tax Extenders and the impact that there haven't on everything -- all right so.
Basically we got all that's going on we have Democrats that would support helping people -- the -- Time now -- spend a lot of money.
Yeah and I'm not.
Content to blame it on my mother in law although that is attempting option.
That the irony here Tracy and Chris is that just three months ago the senate.
With a large bipartisan -- voted for a similar measure that added a lot more to the deficit.
That -- both parties find so objectionable today it's an indication of how much the size of the federal deficit and the national debt.
Are now weighing on the minds of voters.
Two democratic senders.
Joseph Lieberman and Ben Nelson.
Last week ball even at the pared down version of this bill which scaled back the impact on the deficit by twenty billion dollars from eighty billion to sixty billion.
So that sent democratic leadership -- this weekend scrambling to recalculate.
To see if they can compose a version of this bill that is deficit neutral on the Sunday shows.
Republican leaders took some glee in the squabbling across the -- while top White House aide.
Argued the deficit spending broke the back.
Half of the Great Recession.
They can't resist the temptation to keep kind of adding.
Additional domestic spending programs every opportunity they -- about the same temptation over the house and running into the same difficulty there are so maybe -- got some.
Born again now.
Concern although on the democratic side some some some born again deficit -- reduction people on the democratic side it would be welcome to -- We had to came to office.
-- little over 6%.
Today it's growing by 3%.
-- some -- to little more second we're losing on average.
700000 jobs the last three months we've been adding an average about a 140000 jobs but a dramatic swings in twelve months.
Now this Extenders legislation would extend unemployment benefits but not for those unfortunate people have been receiving them for the longest period of time longer.
The 99 weeks tracing Chris.
And kids you -- here in New York.
We just had the state legislature passed an emergency.
-- an additional funding for the fourth time by cutting it to four times is not an emergency getting way it's pretty much the norm.
The denser than they need sixty votes that passes for starting to get to that pot.
Type of a trend in Washington will they get the sixty -- -- -- somebody finally put their foot down.
Well interestingly senator Claire McCaskill Democrat of Missouri.
Said to reporters last week that they are starting to think about how the wind down these unemployment benefits because they don't wanna create a quote vast new entitlement program at this point it's unclear how senate majority leader Harry Reid plans to make this bill deficit neutral.
Win the votes from his own defectors in his own party and the one or two Republicans he would need as well.
It may be that they see the death of this bill.
And the opportunity to blame Republicans for its demise rightly or wrongly as the more attractive scenario for the fall midterm elections.
How about blaming Republicans game at your mother are among my grandma become quite well -- mother.
-- love faces and I love my -- my mother in law I have to say I love my mother.
-- the thanks James.
All right thank you thanks James -- that in DC about this.
In other extend their tax bill but they're right -- creating a -- of another form of welfare if we keep you in people on one in the room and it's about well over two years.
-- -- -- -- You've been big on that forcing people look for work that they've been with the ones have been too lazy to look -- -- because they're getting.
That -- in all not a money.
And this and kindness and Kate -- joins us right now she's the author of undress for success the naked truth.
About making money at home he's also researcher the -- research network Kate welcome to the show.
-- I love this idea because they can't stand anybody here works well it looked to be able to stay home.
All day long -- you're telling me is only about that it's actually about saving money for the corporation's right.
The numbers are just it to me that if they they got over a billion dollars in -- Are here for a hundred person company and about dollars and glee at the national level spread it out over -- billion dollars the year they've.
-- -- and acting commuting costs and things like that right I -- I've freelance from home for about five years and I.
You save on dry cleaning on lunch I mean you name it I saved a lot of money but you're saying the companies actually saving money.
Exactly any increase productivity study after study has that between -- and 45%.
He could not all that you know.
-- chatter and people are in your -- that kind of -- well our office cost.
Look at it working full time album -- on.
By the oil could not talk about air base on at -- -- which -- about the average.
And and get into the -- -- every one you know that this is the based on studies by Booz Allen apple and avert a nation by the federal government.
The reason foundation.
-- -- each each of them you're reviewed work in this area and I'm -- parent company like that's why IBM British Telecom.
-- -- -- a lot of others.
But the science -- numbers.
That there is going to be a reduction in off the spot open don't they let eight day 18%.
The top -- -- -- -- that he is now.
But he showed that 79 and people who call -- -- actually aren't.
And it goes way down because people labeled it out a little bad -- -- You know after you return surgery -- something you're still able to get worked -- Kate how about less quantitative.
Data what about the feeling of belonging.
Coming into an -- this of the feeling of camaraderie.
That would be missing if you are working from home.
Well that would it was meant that don't like the word yeah.
Against -- I guess I.
It's an alliance on the -- -- in his little office and he's worked today.
Wanted -- read.
If we have been asked on -- and that it is kind of the best of both world certainly there be greater stating that money and after all that.
It -- full time but you know people do need to to the other people you do need to be a part of the culture as some people who work on -- I'm.
-- I'll work it coffee shop just to be around people voted -- only actor are social social being although I have that.
They got the younger generation dominate is that work worse they're going to be.
Perfectly happy working they spoke in sight then -- messaging and everything else.
Well I did that network yeah did not actually goes inside looks not but I was a writer.
It was a cool it was a career that I could take anywhere not all jobs allow this kind of flexibility.
Well again brought back to that.
Israel art Ph.D.s.
They look pretty -- currently.
On jobs out there and just pick out the ones that.
You don't -- are based contact that can be done remotely.
Doesn't need -- that.
Files back I think that they carved out.
Just those jobs -- -- about 40% of the workforce could work at home at least part of the on.
That study was done despite years ago and so I I'm.
Certain that those numbers are much higher now people -- online school there now that are now.
From what you've found a rule what percentage of people would want to work from home if given the option.
-- about 80%.
Thirty there's that take the.
That's surprising third I guess they figure maybe they've also done -- that as you have done or at least kind of look at and say look I could save.
Quite a bit of money also aggravation Kate and I worked in live and work in New York now but I used to live and in a commuter city.
And the aggravation of getting to and from work through traffic I swear cut years off my life.
Well -- -- it states that they have 08 is this three week.
Pint per year at the time you -- spend -- and if you're like -- is not just about it.
When I was if I needed that half an hour to decompress after -- you know that the track.
By the way -- says that most dangerous part of your day getting it -- from work.
-- and you know even at the national level they're staying light.
The reduced cost.
You know our work is -- -- -- -- is just those companies that each optic people don't want to do is they'll want to know what.
It was so we -- -- our Persian -- import more than a third.
We keep greenhouse gases but -- -- -- million cars off the road.
We could take -- -- -- that the president that ten year cost of health care plan through the years while they took the numbers are just amazing you know.
And as someone on our boards right wrote.
-- -- he can grab a beer whenever he wants when he's now working as well.
How do best by people work from home if they're supposed to be in the store selling me a flat screen.
-- -- -- -- They had -- and it it at the retail level -- it would that.
It straight into the corporate level.
But basically what state that apparently is no common go to sleep eating or optional.
Just hear your -- it's -- work done.
And you know let us know when -- over.
And it has been tremendously.
That -- -- the federal government.
I was -- same old results were in our environment -- that on that -- It does sound fascinating on dress for success the naked truth about making money at home Tate -- thank you so much for joining us right back at it and yet they.
-- this document -- you can't work.
I know I do.
We'll get this -- thing -- -- of -- better and then maybe I can just hologram myself like over a year place and you could stay at home and I could -- -- -- next -- and I could be ago.
View -- was -- haven't had here.
Boxers on my -- -- the World Cup I love everybody here by the way let me just say that as we go to break -- -- -- -- you Elizabeth's.
I'm like I am well that Edwards is yes.
-- -- -- -- -- -- -- -- -- -- The Dow is now up only 55 point nine you know it's -- on -- stopping some negative.
I know that's not an apple might you love everyone we got -- gadgets -- -- I'm intrigued because I know nothing I'm gadget left.
Alex Goldman is here AKA the technology Taylor I love that's.
Alex is here showing us what gadgets we need and he's selling them by showing us pictures.
Of his -- -- some of the games I mean yes we all kinds of MacBook pros to simply because pictures on the screen.
If you guys would have told me that earlier I'd just could be doing a lot better in the world especially here's my kids right.
Let's do business.
So -- let's talk about what we need everything here helps to keep us connected to a more on the road at summertime.
People are kind of starting to hit the road and -- I'm doing a lot of driving and traveling around so let's start with this Garmin phone network of these companies.
To bring these products if this is the -- literally out just about a week and a half ago.
Full blown Garmin GPS.
Just like this one.
Breathlessly I and this -- -- this is actually my GPS right -- here they are coming next to each other and you can see what what the differences rise to about half the size cap and with this one you don't have to worry about having -- devices right so this goes on my windshield right there at the suction cup.
-- -- -- -- -- And then.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Here's some restaurants near where we -- to speak Asian restaurant social new list.
And literally it takes me there then it's also a full -- Smartphone.
So -- take it out of my car.
It's my fault right so -- -- show -- how that -- on the go to the home screen and we can make phone calls.
And we can come back and I'll show you there's even apps here downloadable apps there's 50000 downloadable android apps on the phone.
And you've got your address book.
You click on the address that's in the address -- it guides -- -- non.
I'm right very cool immigration and they also have a feature called voice studio and you said you have a daughter this is so cool.
You know how you can pick like American voice British voice his voice her voice right.
You can record.
People's voices here for the turn by turn directions.
So you can get your daughter.
To tell you to the last goal right now big -- that they can't get me I would -- it -- have Stuart -- way.
Or explain if your kid had this to go no don't turn left here don't turn right there so everything is there are also if you are traveling -- -- -- remote city and to park the car and forget where this guy is not exactly sure.
You just -- the -- -- and hopefully.
It brings you back.
To -- cars you can do directions walking directions driving -- it's -- there and I just -- -- show you real quick I mentioned the apps right.
Here let's go back to the home screen.
And there is an -- -- called Yelp professionally with the help yeah apparently -- there's a website to right and this is just the phone out there.
And when I use it it literally.
Gives me reviews on restaurants in the area and writes I can read other consumer -- news and I know where to eat program.
I wrote Phnom -- on the other -- -- -- are hugely popular right now why is that because they're inexpensive.
Small and can do have yet you do all those things about a garment for woman and -- from T-Mobile this is the dial -- is a ten inch.
Best thing about these little -- -- 299.
Bucks best thing about them as they are always connected to the Internet wherever you walk.
Right so you've got the device it's tiny you know -- you take -- with you wherever you go you're saying you're watching her -- ball games.
And you're accessing the Internet through the wireless connection.
Of the cellphone network you don't have to -- -- life but always connected right 1929 but and you have to this one happens to be through T-Mobile everybody's got one.
All the wireless carriers have -- and then you're looking at what twenty dollars a month.
For access -- -- you do anything you really.
You know the average person wants to do as far as champion if you use that no less opted pretty much an aggressive -- most people so this is my big fifteen inch laptop bright and this is a ten inch netbook -- -- the difference right literally this is like through two of the littlest.
The answer -- question is yes.
Email photos web surfing what most people do on the Internet you can do.
With the -- yet fully answer is yes and the last thing here you were talking about my kids.
There that registered one year old recently -- my laptop but I want to talk about here though.
Is this laptop stick.
So this is the rocket laptops that from through almost -- consumer got everybody has one of these and it just connects by USB right into your -- up.
And you're always connected to the Internet I was just in a taxi -- and changing my flight seats.
Because else connected to the -- network.
How cool is that it connected don't have to worry about like but it is secure is your cellphone and depth is because because he's essentially the same connection that's is that Freddie in the three -- or the four G network yet.
That's great stuff -- -- thanks so much thanks guys I think at candlestick the technology detail Arab.
We appreciate outspent against Al schools and don't forget to get your -- because the summertime world travel and -- out about everybody's.
Everywhere including Yankee Stadium that's what caught my eyes to know that there's just about -- anyway.
I grew waiting for me to get into it anyways Lady Gaga I know you are huge and it.
Not all easy teaming up with corn telling him ready to boycott BP.
And I love corn by the way like I said there and Barney -- Morning big does does that come -- -- is saying that they want all their fellow bands to stop.
Filling up the tour buses -- the people corn it's a tour van all right it's a conversion vans that carpet on the floors ceilings and in walls and having my dad circular window in the upper right hand corner and here -- dropped right off.
Now -- the Lady Gaga knowledge that she was also at Yankee Stadium over the weekend and -- is now banned from the clubhouse -- she is -- essentially wearing very little.
Yankees Jersey over.
And she snuck her way sweet talks her way past security into the yankees' clubhouse.
And she was you know now what some kind of doing the exact same I think players think he's -- -- Jamison -- -- -- -- club.
But she was second next game the other night this in -- all the photographer thing what's the what's real life you -- maybe she's got a thing for baseball players a lot of lot of women out there do.
You know -- that automatically Alex Rodriguez you sort now you wouldn't know -- -- Jeter.
In theory and classy you guys -- and Nick Swisher where I talk about etiquette -- -- -- mark thanks watching it one.
I would down a little bit there in the show but still of 61 the days.
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