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He burns Chris cutter Dow's up 121 point wow right -- -- please give because not a whole -- glad you -- and explain why.
We came in today though Europe had rebounded overnight so that's starter day on a decent note but we have.
Oil companies -- you know hammered on -- on down on Capitol Hill right now we still have this.
Unknown out there I don't know -- I don't know -- a little bouncing back and forth volatility.
Still there volume was OK but not great yesterday.
On the same token though you've had those oil companies a lot of these big immigrated to really bounce and not BP they're still to the downside.
What done you FedEx on defense ever the last couple days coming back strong so now I think there's a little bit of the sentiment and with that we've had people here.
-- that share it's also -- -- they think those names are pretty attractive here at this level they've been hammered out not as badly as BP but they've been hammered down.
And there exposure to this whole issue.
Is going to be a relatively minimal and there on Capitol Hill right now pleading their case they're basically saying look this is a BP issue it's not an industry issue.
On -- and we need to separate ourselves from an and that's what they're doing -- investors are also agree with that.
They're all gonna throw BP under the bus.
But we also heard this morning at home builder sentiment spell.
Some homebuilders which we thought we -- we thought that's it it was turning around it's not.
I -- -- think a lot of mixed data going on so.
Taken as a bounce back ticket for what it is 225 points it's green it's Tuesday Kabila outline.
The only earnings to -- would best buy and I was not as they're able to sell what.
-- I think that's that's the reason why that we go up.
I mean whether it's the reason why we bounce off of the oversold state that we were in a couple of days ago.
-- this reason why we bounced through.
On the summer because we're getting the second quarter earnings in London -- I -- mid July and forward yet -- -- pretty good well they gonna be good.
I think going to be good because illegitimate and neither are they going to be good because the.
Bar is very low based on -- do you think they're good to legitimately going to be better because I think people are a lot who -- still buying and and I think that they are.
As efficient as they could possibly be.
The media is so they are a lean mean churn it out and be -- inventories that are having to be rebuilt.
And so that's what we're getting right now.
And so I think that's what we're gonna get in the second quarter -- get those numbers all the way through.
The end of July and that'll drive is -- Garnett joins us right now not in studio as he has been so many times in the past.
But it Chicago -- say hey -- Hello why yes my brand new home Chicago great to be here right now and -- have been there yet wait till January got there.
I -- I hear it gets cold here Hank.
But you know you know years ago we used to have merger Monday I feel like today we're having -- testimony Tuesday it's like every week.
We have more and more CEOs finding their way to the new powers and there.
Not -- -- -- -- Chicago Washington nice thing here we have all of these oil magnate better than act.
Ready to testify and talk again.
-- kind of plead their case for how they're gonna get -- BP issue.
But -- Pamela but at the market I am and why why are we -- this 128 points on the Dow right now.
I think -- if there there a couple of really important things that happened right now I think.
Finally agrees getting downgraded the markets -- -- -- okay the outlook stable -- downgraded.
That happened yesterday -- kind of halfway through the day people I -- good news.
Homebuilders being afraid I think they're saying well we have a Little Rock.
Yeah some -- the interesting things we started to think well maybe there's a lot of labor inflation that's gonna start to come back into the market.
Finally we see an improvement in jobs if you look at the jobs data that came out today.
We see that the work -- the work week of the typical flight is actually extend it.
So this is horrible for the individual but really good for corporate profits and because what that means -- -- really kind of grinding people have in the -- a little bit harder a little bit longer.
For the same pay level that takes away some of the inflationary fears that had been weighing down on the market.
So I think all of these things come together you tend not think about investing this week.
Without focusing on the idea that it is expiration week.
Right in its next three week this week and one of the things that's really important is we have gone through this tremendously high volatility month.
And interestingly the volatility.
Is coming down.
We've had 1% up 1% down 1% up 1% down.
That magnitude of swing -- that 1% has been pretty consistent and again say we're looking at another hundred points.
That's almost become par for the course.
The big -- here is that people stop thinking about.
What the downside is for their portfolios.
And they just become accustomed to these big gigantic swings in the market.
And now that that phenomenon of -- employee -- squeezing more out of each individual employee eventually that snaps back right in the favor of those who are looking for work because eventually squeeze all you can out.
And these people are gonna say you know glad you may need -- -- -- this extra project this extra overtime for no money.
You may need -- -- you know -- in these hours.
But I'm just not gonna do it anymore -- they're exhausted.
So I think that that you're right what's gonna happen is where we're seeing the biggest increase in jobs is no longer -- government government has finally been squeezed out.
The newest increase in jobs has been in temporary help.
So I think those are some of the names that are gonna do well to write like -- -- these temporary employees.
Companies and those are the ones that are gonna start to do well in this environment absolutely I think I'll probably -- -- reasons.
We took a -- just for good -- sitting up at their temporary help but they're certainly hiring recruiting as well.
Still OKC use you think jobs are going to start to come back at some point then.
I do and I think yeah -- and then I am.
Yeah not -- have for bad jobs later for good jobs is what we're really worried about is people being under -- So just imagine you're an engineer from MIK.
And you have to take a job -- as a waiter may I mean that's really the scenario that's the worst case scenario.
You know kind of this disconnect between what you could be doing for society -- what you really are doing.
I so that under employment phenomena people are saying look.
I haven't worked unemployment is running out I have to take any job not the best job any job just to make -- to meet the bills that I think that's really what we're faced with right now.
You expecting good earnings this earnings season and real quality earnings.
I think this is going to be a phenomenal earnings season it's just I mean you know the dollar is playing into it.
All the labor and the all the inputs for businesses laid back and Mary.
Really cheap so that can help but bode well for service oriented companies which is what the S&P 500 is dominated by high.
I think that's really good the one place that we might see a little bit of slippage in other words some underperformance.
We'll be top lines cells -- But overall I think earnings are gonna come out to be fantastic that's what we're really bullish on -- that's quite yet we're still not get that top line though right.
So what worries you about his recovery going -- I think the frustration on the part of employees that really bothers me.
That the 10% roughly -- a wanna get a lot of emails roughly 10% unemployment rate is here to this day that really bothers me.
On the other thing that bothers me is that the large corporations.
Have lost their attraction to lots of the new employees because implies -- said look I've always worked in big companies have gotten laid off.
Now that -- work here and there and you know collection of small jobs.
-- -- that these big companies will lose their appeal and we're probably gonna see a lot of these small companies kind of start to take off.
So that kind of worries me this thing that worries me I don't think that inflation.
I mean inflation -- comment it's kind of interesting -- we talk about the pension crisis quite a bit but the pension crisis is.
Losing -- a gift a dollar that you have not received yet so that's a big problem right.
Inflation is a very different kind of problem inflation -- Taking away money that you've already Arrington.
Right so that really changes the psychology of people when they're spending when they're saving.
I some I I worry a lot about inflation and how that might play into the typical house -- And it's always good to see you and congratulations and you -- digs out there -- you go Chicago.
It's on the vita is celebrated a Stanley Cup in the some merit already have -- -- -- I -- terrain and that there are it's been mean.
You know like things are so wonderful -- -- -- -- of kind of evaporates quickly -- Matt -- and and nothing bad that I -- investment strategist at invesco out in sunny Chicago thanks for being with us -- Great -- -- -- dichotomy in my brother who lives in Chicago it's raining so therefore is and how riots in amounts well.
Or orgy he's just miserable miserable meeting could be 75 and sunny could be in the right field bleachers of Wrigley Field which is the closest thing to heaven on -- that there is nothing payments they'll finally be miserable.
I would think that they've got a lot to get -- they've got Adam Shapiro -- employer wouldn't talk about that we've got Robert -- Out at.
Situation and right now it's all I have a movie my caught my -- heavy say that -- what caught your ride back.
I got -- play -- they're aiming for an.
-- looking girl.
Welcome back in the film foxbusiness.com.
Live Chris Carter and Tracy -- marketable 125 points.
On the Dallas oil executives meet on Capitol Hill the president.
Is in the gulf continuing his tour today in forty he'll address the nation tonight don't forget Neil Cavuto.
With us and the president's address.
This evening I give us a little preview of what he's gonna say tonight as he spoke to the troops in Pensacola.
And coming very hard coming down very hard on BP they're gonna pay.
-- this -- happen again.
And I know -- he is a huge difference between an and a pay and make sure this doesn't happen do you agree I wanna hear a lot of make sure this never happens again and happy.
Any nation where you've been saying all along.
Yeah 100% unit right but I'm not confident right now that we are in a place -- we can be confident that -- -- And that's what any.
If they can prove though that.
BP -- cost cut -- cost cutting errors along the way.
Rushed to get the job done as some reports are coming out saying now.
Does that make you feel a little bit better about it all know because I want to prove that Exxon and then ruled that shell and the others have not taken those same.
Cost cutting measures -- then it's then really if I think it falls on the shoulders of our regulators whether it does.
I want regulators and I want but I want this six month moratorium.
I don't mind it so much if we -- -- -- -- -- within -- with experts and now we say at the end of six months okay concrete evidence is what you've done is what you need to do.
And do it rather than at the -- -- six months say hello we're gonna have another few committee's hands me on this.
-- isn't as he joins us right now he's and a committee meetings -- things about action -- the Miami Condo vultures real season real estate broker.
Good to -- again Peter.
How are things going today.
They're going very well now you know one thing we've.
Merck neglected talk about I think on this show on the network even it often is commercial real estate.
There -- residential real thin all time because it affects all of us on a day to day basis we talk about obviously what's going to spill in the gulf we talk about financials in this Napoli.
I think we neglect talking about commercial real estate.
But there might be a reason for this -- and that's because.
This bubble bursting hasn't happened yet in the industry has it.
It you know it really hasn't come we -- well a lot -- Florida based institutions in the regional institutions banks effectively down here.
They've all been focused on residential and what many of the banks have been telling us -- They need to clean -- residential books try to get him off of basically the balance sheet and then they're gonna focus over to commercial come fourth quarter.
That's why I don't think it's surprising that we had five -- deals for large busted condos down here South Florida since the beginning of June we get fifty in the last two years so really the residential getting -- in the in the commercial is really what the lenders are preparing for.
So you think it is the next shoe to drop an -- -- -- up here you know I island in New Jersey.
They're still blown out shopping center as I mean you know in stores are still shut down.
I don't see people renting space all that quickly.
No you know really what we're seeing in South Florida in particular.
Is that it as an unemployment rate gets higher higher higher these retailers these office users -- you know their -- able to justify the -- -- that they were paying.
They're not going in -- trying to renegotiate your terms they're trying to downsize -- trying to do variety different things and if that happens putting pressure on landlords and don't forget commercial realistic it's much more fundamental based on numbers unlike residential which has a lot more emotions and feelings into it vessel these loans circuit can do -- -- commercial side.
Watch for the lenders be a little resistance in terms of refinancing and and extending the mortgages.
So that I guess that that's my next point is to say it's little more about the numbers.
It seems to -- like he would be easier then.
So really do a deal because it there isn't any emotion attached to a you're just saying look guys I'll I don't wanna take over this strip mall so -- -- standard terms on appeal put -- payment out a little bit -- -- and I give me more that you're seeing that at some point time and maybe it's right on the corner lenders are gonna stop being so readily readily be able to do that.
What would -- sort of the difference the difference is residential there's a sentimental heart felt -- aspect to it.
It's very difficult to kick -- primary user out of their home because of unemployment because right different things it's much different when you get -- commercial it's all numbers.
-- more importantly you have the regulators paying a closer and closer -- in terms of what it what's the place really worth vs what you have outstanding on -- -- not can you justify it unlike on the residential side where you know there's that family of -- living there and they're struggling to get by.
It regulators immediate cuts -- slack and that's I but the -- the content on the commercial side.
Get believes uncorrelated to the consumer to right I mean specially storefront places things like that if the consumers not -- -- shop and there's no real reason to have a -- to begin with.
As -- -- the banks have no prompt on these guys out on their but so we could potentially see when he wants stores shut down before this thing is over.
-- You know ultimately we're anticipating a third there will be shake up especially on the retail side some of these little shops that popped up that never really kind of meet some sense and in my neighborhood or my offices.
You know -- there's a little arts craft place that's trying to you know they're they're paying an expense of Renton are trying to make some money there.
You know there's no way that they're gonna survive this this is a company that during the boom time when people have -- disposable income they were having -- equity lines they were able to go lot by some of these luxury goods it made sense today is people are are cutting back in the becoming a little bit more frugal.
You know these companies are still make sense ultimately will happen is these companies that -- bad.
New companies will pop up though leased space at a much better price and then they'll become successful as a become successful then you start to the -- go up again but let's long painful cycle.
What are you talking about the cycle and how far you look in before we finally started.
-- as the bad as you say the banks sought to put the put aside their residential issues and start focusing on a commercial issues and maybe that an -- does drop.
Well I would tell you when unemployment rate is 5% or less it's pretty much -- landlords market when the unemployment rate is 10% or greater it's pretty much it at tenant's market.
Just give you some perspective.
So you were really that tenant's market right now what I would -- on the residential site.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Peter we don't have a time to time but -- -- buying opportunities not mean someone go out there and -- strip mall buying condoning Condo building on our office building right.
I got to leave it up.
Well what that lenders are telling us is anybody coming to that would impeccable price today.
The bank will take because they feel as if the pricing is gonna go down in the future so the banks are basically trying to get off -- anything they can while they -- while the pricing is still there.
In anticipation of decrease you know next few quarters officially beginning Q4.
Yes in the -- -- can Peter thanks so much for being on us today.
Appreciate kept in -- -- a whiskey down in my favor please know what world Miami -- looks as realty down there.
See the trees I feel good already eaten in fact some real -- Iraq.
Personal responsibility the Mexicans are taking this to a whole new level check this out we've got some footage of Christian Hernandez.
Young 22 year old.
-- -- -- What Torre doing this -- Republica.
He's running away from the -- -- at the beginning of the match.
Think -- chickened -- hey chickened out of bullfighting is running out there what fans are there not very many yes.
Are cheering him as you can hear why any ticket and comes back up 81 of all he's wearing a pink the matador suit.
With a matador suit in and of itself is not very manly but when you when it's painted gold LeMay.
I mean it is sure Alabama called -- -- -- has nothing to do on -- -- -- of the -- but isn't that idea that you can Wear bright colors attract the bulk of the bulls attracted to read that played got a red whatever -- that would ever yo look at this now the -- and I had to retire.
But actually before he retired.
He was arrested for breaking his contract they guess when you add -- already -- you sign a contract that says he will fight the ball.
And then mercilessly kill the bull by standing in the brain at the end of the match.
He ran away.
Was -- was arrested paid his fine and in the time -- looked and it looks like he's gonna get -- in the middle of the -- Let me talk about a lack -- but she's now.
First of law I don't understand.
It the kid's job is to fight bulls went to zone he's he's and he's should be an.
It is not is the plight of apple why -- jumped -- -- there because he was scared and at the at the -- said look.
I didn't have the ability I didn't have that.
-- thank you.
To get the job done this is not my thing quotes.
Apparently it -- You know what may be sprinting who would be -- -- maybe you should try that he ran out of that ring pretty quickly.
Let you know I think the -- yeah.
It's not -- and it's not as being -- he's going to be like at 7 AM eastern yeah those they like fully invested in that suit only managed matador -- -- that's his.
Hey maybe it is yes -- -- it's a quick break we'll be right back.
Matt McCall -- calls -- Jensen is wearing pink to have.
-- -- -- -- -- -- -- I was pulled in -- there for agreeing that the -- -- should jump out of this thing if he's nervous.
I don't think he can paces back and I just think about -- he's.
It never wanna know movement that -- in the first -- -- he jumps out.
Runs for the help your ultimate fighting a fan and I realized I.
So what if somebody gets in the ultimate fighting not to dinosaurs running away from the guys trying to play and jumps over the fence could I don't think you get that far I think you try it once or twice in -- -- -- -- -- To -- dealer.
He's been he's been doing this for awhile now -- got to that level where he's in the -- don't know why not obliged to stick up for this -- out I -- I don't why do you think he's wearing -- so much of -- smacked him before he went out with pink on.
We got -- Adam Shapiro that Pensacola beach he's got an update on what's going around this oil disaster.
I've sat talking about the for a boy -- and the president's that is resident and the president just spoke to the troops sad and so give us the latest.
President came at a Pensacola beach this morning he walked dive and we actually have some -- I don't know if you guys -- cued up I apologize if we didn't get that to you but that president came here.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Talk to them.
Also got a briefing from Thad Allen the oil slick remains to miles -- forty miles and forty miles long it stretches out the golf.
It's about a half mile now off of Orange Beach which is twenty minutes -- -- It is still they say anywhere from three miles to five miles off Pensacola beach very hot still day -- -- -- into the gulf as flat as can be.
That allows -- -- they have in the gulf to go out there and skim that oil but people here want to hear from the president where's the equipment there was no equipment on Pensacola beach.
Ready to clean up any oil if it does -- here when it does -- here.
This morning there is equipment a lot of people here speculating it was brought in just -- kind of a -- the president was going to be here we actually witnessed you know last weekend.
Yet though the oil hit Orange Beach and it.
Was covered in oil and -- for 24 hours and then after it hit.
They came in with huge cruise and they cleaned up Orange -- still bits of tar washing up over there.
The concern is that and this is according to senator LeMieux from Florida he told us in an interview on fox business for posting it to the web.
That at the oil is gonna hit this speech tomorrow so we've been hearing that for quite awhile but he says the latest reports -- that oil hit his speech tomorrow and and business communities here to get a big hit the people who did meet with the president this morning hope that tonight when he speaks.
He lays out a clear plan -- -- how he's gonna get BP to speed up claims process because look business is down twenty to 50% at the hotels.
At the restaurants at -- the -- -- nightclubs June July and August.
Those three months there and 50% of their revenue.
In during summer and a sense of the summer season is over you don't -- even -- he -- from an right now on this water is a health advisory.
People think they can't go in the war.
Come with a -- that's.
Thanks set and we appreciate it Dan Shapiro down enough Pensacola whereas as you heard him say -- -- -- in the oil to hit there tomorrow.
I would edit every jets now is also -- follow up on the still -- sets in down in the White House.
Winning that -- second and he's gonna get ready -- just gonna give us the update and now could even do some construction where -- over the last days as you know as you've seen the then pitched it -- maybe he's feeling I have.
Everybody -- peaking in the Oval Office later again why we think I think we get a preview boys in this day.
Later tonight when he spoke earlier in Pensacola senate than -- -- right now I think he isn't it rich.
-- tonight the president from the Oval Office this is not something that happens very often so obviously it is.
There have to be quite an agenda before the president decides to speak to the people from the office doesn't there.
Right and for him to choose the Oval Office -- in this oil spill to be the first.
Time he goes -- the Oval Office that actually addresses the American public considering that this affiliate -- the first.
That was built on restoring the economy now -- this oil disaster.
Both other public -- maybe the right choice considering what happened in the past 58 -- I believe now.
You did get a little bit of a preview that fighting language from the president that he actually got literal about fighting today that.
We're going to meet this disaster on the shores were going to fight it back maybe it's.
Almost like a vivid picture of -- World War II battle in the language the president is using.
And that's something that you've got to fend off -- this view that the administration was.
Too slow to react too sluggish to react and the hard truth is probably that the administration and BP really.
More prepared for disaster this.
Think that -- now then you know -- trip.
Trying to combat it's not eleven as opposed to Katrina -- really adding to the emphasis of at all.
Rates that we don't have any candidate -- -- presidency right now visiting.
And this is that not been good for the presidency this is this something that has been.
You would -- slowly bleeding into the presidency but it's it's actually.
Hemorrhaging in the gulf and the problem -- you look at what this militarily and -- and it's it's almost like to fill in the oil that you're seeing.
Reach the gulf right now is something that happened a month ago.
Oil was still gushing into the into the gulf there it's still not contained and we're going to be feeling the effects of it not if you remove from now.
But this is going to be all along problem and one that future administrations are probably going to have to do.
-- -- free watch a lot of blame game done.
There is thanks -- Thanks guys the jets and down the White House come in this and again but new grill -- -- -- ATM covering yet president's speech from the Oval Office.
It's I think it's going to be heavy handed I think it's gonna be coming down on BP come down probably on the whole oil sector.
It's not going to be -- might have a hard time stomach it honestly hounded it did the more the blame game I just can't take it any mining solutions entire blame and he paid to think it's.
It even if you don't say anything about your own administration in your own handling governor -- somebody else's fault.
Tell me what you're going to do.
From this point -- -- which he did yesterday.
Really doesn't matter to me.
I think bring in Hollywood.
Kevin Cameron James Cameron bring all and look at George -- that's what I was remains a force for guys say something else is working yeah.
I would do -- down there upgrade but that -- if you NASA but not the dark side.
Not the dark side of the force though on the dark side is not until the markets right now we're up 126 points -- -- -- -- there I.
Now -- that and -- great if they showed Obama with a guy like this.
Dynamic duo Treo wherever and it.
Automotive Holdings up actually Goldman sat us giving -- -- ceiling raise their outlook on all the auto suppliers.
-- the auto related companies yes so TRW up.
Johnson Controls up.
As well Borg Warner.
-- they raise their outlook from -- more bids to lawful.
Immediate impact and that earnings reject and should be but above average up about 25%.
For 2010 to 2012 bounce back in the automotive industry aren't well I guess again it's these are still though nothing to.
Something but he still have people holding onto the clunker -- -- in Nevada could be OEMs who aren't -- -- didn't.
Gibraltar Industries you know -- rock I think that's -- -- love it to every raises rating and this is building products metal producer.
Jefferies raised its ratings I think this is on the united sign a -- -- outlining outlook for residential apparently modeled the man they say it's all up up up.
We had about 1 very old all morning.
Talked and reported this morning that it was.
Swung to a profit from -- earlier loss benefiting -- isn't this.
Gets me a little bit benefited from a little bit of a surge in revenue but heavy restructuring charges so not so much.
And I'm not sure I entirely can agree that it's.
They're seen activity as much as they're revamping internally.
That's -- ram energy resources and there exploring strategic alternatives and about sale refinance something market likes that you get out there and well -- yourself and -- that shares of this IT services for provider.
They -- is actually doubled when the company said that it's signed on orders.
With close to thirty million dollars this year and they actually expect to realize -- major chunk of revenue in the next twelve months of that thirty million that is within the next twelve months.
That's good news IT smaller market yet small little that's -- -- -- got -- for the day but.
IT order something tech sector.
Doing it again.
I don't thank god I've said that you know some these big companies of the employees and get frustrated with them and administered in -- move to smaller companies that might be for example -- industry.
Matt McCall is here and give me a hard time to someone a picture like that -- -- I was learn but I have a complete.
It's inside -- -- with gold -- trend you know and -- it today that I -- ahead it about wasn't wouldn't run and had a real example -- -- -- that -- into the death period.
-- until -- unfairly killed that pull you right.
-- in those guys are heroes I went to a bullfight and we -- cheering for the bull.
And we almost got killed in the -- yeah because I mean everybody they they do these guys are here they come see them -- for -- to run out with tail between his legs that's not because drill press.
Arrest of Floyd Bennett is -- that you -- -- a personal responsibility in this country that is that -- clearest examples personal responsibility you run out of your job and that's -- exactly hit.
Are paying him the personal responsibility of paying -- -- to -- yeah.
And -- -- you know he's.
-- model but what do you think about this Margaret a couple of 13027.
Points and -- yesterday I was little disappointed with the sell off again today.
But we've become accustomed to that -- it's almost in the last half -- was -- buying -- -- -- -- to watch on charts amazing -- -- picks up dramatically.
It's almost like -- -- -- day here in the summer summertime.
-- -- and I can go out footage in the launch come back and -- -- trading figure out what that's going on you're bullish is there any -- could make you bearish.
Sure I mean this thing that can make me -- -- something in Europe and -- -- that the things in Europe right now are kind of on the back burner we're not as concerned.
But the bottom line is you invest because corporate profits corporate profits are improving.
Earnings I believe -- be good to listen to this morning on at the end your time a quarter profits and yeah sure there's some give us and without the corporate profits.
Next quarter the the the only thing is.
There's still the mean much better than the first quarter they're going to be much better than a year ago comparisons seems that I see some really good numbers.
Think he's giving guidance how we're gonna guide for the third quarter we see good guy in this market probably goes right back through the highs that we had a -- we'll see the guidance I think we well yes I think -- I think really people.
Are doubting this market because the what happened in Europe there's a lot of companies in US they have nothing to do what's going on -- in Spain or Greece right now nothing at all.
-- -- like about this little bit of the boy that cried wolf and even dying Garnett to set it to we're not gonna seeded top line growth we've been waiting for -- we've been waiting for a bunch of quarters now saying.
This corner we're gonna see the top line growth we've been waiting for and this quarter you would be getting pretty decent guidance actually.
Last quarter in particular we got it from a -- companies then of course we get this -- Europeans after that brought the market right back down so.
I mean do you honestly think you're going to see that top line sales people -- out there and bought.
The -- I really don't I think we will see I mean but there's only certain companies that -- the best of debris added this is.
Without a -- a stock pickers market.
You can't say every technology company is strong right now -- every retailer strong there's certain stocks within every sector that have great top line growth and those of us actually need to find.
You need to find the facts are going top line bottom line and not just unbearable last year and it was me doing better than they were last year and I hope so -- and in this.
-- didn't -- laughter these are horrible.
The first -- like today doctor reddy's laboratories I don't know what this is but it sounds like -- head shop on fourteen street.
And housing college -- on the corner but it is and what do you like about it argue why.
Really cool name they really I mean but the three stocks that today are all international this one's based in India pharmaceutical Biotech company.
They actually have had a dozen new products that have been launching here US -- business in Europe as well the majority of the revenue does comfort -- -- which I do prefer.
They actually coming -- the generic version of Tulsa which I'm sure you probably take cutter for all of the food and so that you -- -- you into that yes -- To me -- the end doctor reddy's generic version when it comes out.
That's a very good point yeah you know albeit part of that top line growth -- that they've got -- stocks actually held up real well didn't selloff with the overall market sell off which electricity as well you always have a trying to pick.
I happen this so many strong China -- and if you went toppling growth look at the stock revenue in the first quarter of 72%.
Operating profit of three or 45%.
-- this is -- they -- its China.
-- you ID OK I think -- might do not consider China a huge IA international.
So that you try my best to I think you -- but you -- CU ID number one maker of diesel engines in China.
60% sales increase this quarter six present more.
Engines were actually sold.
Light trucks big trucks construction vehicles cars you name it we know -- not bad car auto makers auto parts makers and it.
This is very similar to a TRW -- based in China is facing their leader as far as engines.
And it a lot of this their sales come from -- government.
When the Chinese -- behind you really can't fail.
Now there's a lot of talk like in this country for example with -- engines.
About clean burning diesel is that a concern there is well I mean obviously it's not as much of a concern here.
But I would think you have to have a company would either technology the means to get that technology that becomes -- can see exactly they do have some of -- technology but that's a very small portion of their sales.
China's going through our industrial revolution went through eighty years ago they they could care less.
They just want to grow up they don't care of idealism.
It cannot spend a lot of things that we find out that that I knew he -- night and well I don't I think I just was like -- -- -- let's talk about the Canadian imperial bank of commerce -- -- bought last week for a client CIBC it's also known as for the largest banks based in Canada -- barred because he's a four point 9% dividend.
Held up very well I -- to get some exposure to financials I have some exposure JPMorgan.
But as looking overseas and I really like this a lot the only problem -- If the -- their currency increases.
-- -- dollar it will hurt their bottom line but the US dollar's been so strong mentally he's actually come down.
Over the last two months and it just bought just this week they bought the Canadian MasterCard I unit from city where I say I'm you have -- been about sixteen half million dollars.
Worth of credit card that's -- to have federal that's good or bad.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Number -- if this year thing does -- spreads.
CM is not gonna -- exposure to it as a JPMorgan well.
And maybe they even if they do the same exposure investors don't care -- selloff JPMorgan whether -- not to be selling this has heavily.
To -- in particular bit lower beta lower risk but that was -- -- sweet spot isn't it kind of benefits from us but yet doesn't get hurt when we do it does actually on the EWC which is a candidate ETF.
Listen on the largest holdings in the financials they have a large exposure to commodities which is fantastic to a lot of gold miners up their uranium -- Which have done really well so can I yeah I mean it's a little cousins and -- -- -- -- but that they've done really well recently.
And I almost prefer their stock market over ours right now for next twelve months -- -- instead of the way they've -- well exactly.
Matt McCall thanks for being -- thank you know pink on Matt McCall knows they're not -- president of the -- a group actually most days I mean and angry and take a break we'll be back we're going to be talking to -- a great down.
-- -- -- -- I welcome back to the show Cotter and Barron's.
Problem just trying to get our act yet I'm glad the market is doing better you and I -- right now up 120 points which is about flat from where we started the show.
What's certainly added a nice holiday by some bounce back and -- yesterday broke a string of two straight days higher.
We take away that twenty point loss yesterday and we -- were bouncing back more to the middle last week when we were in a little bit trouble and maybe just a little.
A little oversold and -- trying to find that.
-- I don't know what I you know some days you want to write about it is really all about that last hour.
-- excellence of the music basketball game at the last what's the last ten minutes of the game that's going to why you can't predicted because last Friday the last I've already bought we bought stocks big into the close and you would have thought -- any day of the year we -- sold stocks yes it would have been last Friday didn't angry judge should have answered should've.
That your -- -- -- -- -- -- -- -- -- You did correct the third time I got to -- -- CEO of the year up.
Joins us right now very interesting story -- when we heard -- we wanted to speak with you.
On -- it's a tough time right now.
For people doing charity work is -- it's very difficult yet you've been able to find something that works it's worked for ten years it's called year up tells a little bit about it.
But Europe is a national -- non profit organization.
That provides low income eighteen to 24 year olds with the skills experience in support.
That they need to get access to livable wage jobs in post secondary education.
How qualified to be a party a program.
But we go into that communities we serve in nine cities around the country.
We work with motivated low income individuals.
Who graduated from high school but didn't have an opportunity to gain access to a job that pays livable wages and -- post secondary credential.
The world been able to -- over one year is it by working with our young adults giving them intensive training.
And -- -- -- with excellent companies.
We can enable them to gain access to jobs that on average pay 32000 dollars per year.
-- how -- you determine if somebody is truly motivated such a young age because even at that age.
I had all the opportunities in the world I really wasn't very motivated myself how do you determine whether somebody's going to be great in five years in ten years fifteen years from now.
But we go through a process of having folks fill out an application.
-- for one if not two interviews -- in really through that process assess who's ready to make this change who wants to get into the game the professional game.
It is willing to show up at a program which has very high expectations.
It also offers a lot of support for someone who wants to gain access to a job in a knowledge based economy.
-- like the editor of the these kids have to show up and it's there already in that environment that they're going to be in -- to get dressed need to be on time to act responsibly.
-- how did they go about.
Finding this I mean I know you're in New York you're in Washington Boston.
What have to believe in those areas to be a part of this program.
So we don't restricted to just the cities we're in.
To me first going to a city you can help me hear about us through eight guidance counselor a community based organization that they're a member of but after a short period of time probably 80% of our students.
Not come through word of mouth network nativity here about the program for a brother sister cousin.
And they say look this is a great opportunity to get a job that pays good wages -- has a career path.
In what we know in this country is we'll have a fourteen million person shortage of skilled labor in the United States over the next decade.
We also have four point four million young adults eighteen to 24.
Who are out of school lot of work in don't have one high school degree.
-- -- Europe has been able to do is connect to supply of those young adults.
We've great companies who need access to skilled labor in it ultimately have a globally competitive workforce which is what we need in this country -- -- -- brings to.
-- -- -- one year incentive program -- many of them go on to college after that one year program or do we do most of them go into the work force right away.
It's a great question -- students when they're with us I dual enrolled in college during the program today earning college credit.
The vast majority -- -- when they graduate.
Need to make money in order to live in fact our average family income when the student starts -- us is less than 101000 dollars and so they need to make an incumbent -- -- com.
In addition to that too -- continue with their post secondary credential.
While they're employed in a great company like Kaiser Permanente Perot Systems.
Bank of America JPMorgan.
Burning a livable wage with the job that has a career path with it.
I love this tell me what I do you find your educators the people that train these kids.
Are they volunteers who.
We know we have full time instructors of whom have master's degrees.
-- come from both the private sector from Community Colleges.
Some from our public educational system.
In what we really focus on is what we call ABC's.
Attitude behavior and communications.
So we teach our students not only a skill like finance or technology.
But really focus on attitude behaving communications.
That we know in this country that you hire for skills but you fire for behavior.
-- -- we make sure students show up dressed properly ready to work understand that things like pro activity in assertiveness are.
And and are able to both.
Compete in -- Students who may have completed a four year college degree but really I -- a place -- have a desire to work as -- -- be as hungry as -- young adults.
Gerald you fully up privately funded and it's so we have -- your partners.
So half of the revenue that we need to run this program.
Comes from our corporate partners who pay outs to having access to this talent pipelines and so they have folks like State Street as -- mentioned Perot.
Kaiser Permanente Bank of America JPMorgan.
And what we're helping those companies do is to build a long term pipeline.
Of diverse pre trained to pre screened talent at the entry level of a career path.
It's about half the revenue comes from there that we have wonderful -- partners to provide -- also with some of the funding probably remaining funding comes from folks like Wal-Mart.
-- folks at Bank of America found some great foundations Kellogg Foundation's and others.
We rely on the government for pay minimal a lot of funding.
And really this program is driven in part by meeting a market demand.
Meeting a market need in making sure that is a nonprofit.
We held accountable to results in outcomes rather than efforts -- although we do believe the government has a role to play if anything it's a limited role.
In ultimately would like to re purpose existing dollars in direct them to programs like you were up there will be held accountable.
Forgetting results in only being paid once we generate the result the government wants which in this case is -- W two form -- in somebody's paying taxes in this country.
The model that seems to be far into our governments our Jerrold tell us tell people out there -- in fines if they want applied to they just go to the website.
So they can go to you that that www.
Year -- YE a RUP.
And -- responded that real quickly and then if -- in any of this -- wearing apparently would love to talk with you.
What we know after ten years and serving thousands of young people.
-- -- In one year we can ensure a young person gets the experiences in -- skills they need to be valuable in valued by a fortune 500 company in this country.
In so really what we need to do is connect -- to hand.
Make sure that our companies have access to the best talent pool out there and in this case that talent pool is often in the communities that those companies existence.
-- -- -- thanks so much for what you -- and thanks to be with us today.
Great thanks so much appreciated -- well Gerald chair attack in up in Boston CEO of the year up -- YE a up.
UP check it out here an eighteen year old teenager out there trying to figure out what to do it without Robert grade on the -- -- greatness on electronics.
Welcome back to civil five cents to look your eyes if you remember a couple of days ago.
But I think it was Friday we had -- -- on you're talking about shots and it was on about cooking and I said.
A mother -- -- 1950s cookbook and that there was an old woman area in an apron.
You know welcoming -- husband home from the office kissing -- and making a rack of -- I got an email from my mom so it -- -- was funny to please some mold and not battled my cookbook -- from the fifty doesn't mean I was using it to cook Baghdad so if you wanted to make sure.
They told everybody yes -- cook book was actually older than my mother -- apparently was my grandmother well.
My great grandmother's cookbook at that -- The Bible player -- Your mom and him have.
It's like to make sure I got through my mind -- -- bag match and got cleared things out no one for a second thought that your.
This is not -- Fun still a while ago I had mentioned because Google had on you know I click on Google -- they have like a thing of today.
We'll walk about two weeks ago it was pac man thirtieth birthday.
Huge Batman -- played it this back -- you name it loved it.
There's a new -- mean dean coming -- and it's actually really cool it's cold pack and party it's due out this -- for.
And -- all get in this but wait -- it's forty fat little mini games listen to this Pacman now.
-- well he plays tennis.
He is like king of the mountain style they do lake.
And chasing him -- in the offense -- -- it's not just didn't think that it didn't addicted to think that's the magic of pac man she.
Doesn't climb mountains but maybe I think he didn't.
Did you feel he got a M Gatling guns need yeah -- me just eats little dots and strawberries and share I think it's very -- there's a 3-D version but what's interesting is that what they said was Pacman has just renewed interest because.
That day Google.
When it announced that it was back went thirtieth birthday.
-- you the option play Pacman for free for the day.
And sold -- -- -- pleaded not -- all fired -- about it again.
And I think that it is one of the -- things out there probably next prior but Robert -- out at the.
LA I know is going to agree with me and I know that you -- -- -- pac -- game is that -- fat.
I'm a little busy MM plain dumb idea that I am watching don't -- on it to be no one's ever CNET but it took.
Our guys they are.
-- -- these games right now to obviously you know helping him -- -- faithful if you don't mean but these are all for that Nintendo Wii games are totally.
Knew no one's ever seen these trailers before the games are all coming up for holidays.
That's what's going on right now the actual show itself doesn't start for a couple more hours next to wherever the -- -- were actually in the Nokia Theater.
It may look familiar this is where they -- American -- so if you see the states down there.
Haven't seen now Simon down they're giving a thumbs down dvds games yet that.
Anyway you know you've got literally an industry in transition right now it's a very interesting time we talked about the sales slumping it's that a little bit of a tough economy looking for -- -- wow factor to get people excited and that's what these games are all about and in -- showing all the bells and whistles here Microsoft launching a salvo yesterday they unveiled.
I've been in the -- splashed everywhere in the media today and it's basically you know how with the we you can use as a gesture controls little controller well with Microsoft's you don't use any controllers and has.
As that -- motion sensor that basically picks up your movements I got a chance to demo don'ts and yet it's hot it's a lot of fun I've got that we.
It's very comparable only a couple of games out but they're definitely going for the more family friendly audience that.
Nintendo has been able to capture with that we which has been wildly successful seventy million Wii sold.
To just by about forty million Xbox is 35 million playstations Sony's gonna present later today but.
We're gonna talk to Reggie beyond me and he is the president of Nintendo -- onstage right now speaking -- -- an interview with him on the network coming up in a little while -- We've talked to Microsoft yesterday we talked to electronic arts chief executive.
He says this is actually getting better for them because they're capitalizing on this move to mobile people.
Buying a lot more games downloading if you go to the App Store on iPhone and this is a whole other part of the story as well guys as people sort of nibbling on the -- if you don't like appetizers -- some of the sixty dollar console games which maybe is more like a filet mignon and -- you've got you know.
Electronic arts is really capitalizing on that they're doing monopoly they're doing scrabble they've partnered up with house -- to bring -- -- of the board games.
To the iPhone so that's another part of the story as well the people trying to deal with because.
Apple is really starting to.
To be a major player there even if they're not gonna be down here at the but it's certainly you know this -- an industry in transition literally and figuratively right.
Right now and everyone coming out the big blockbusters of course for the hardcore gamers I easily -- with the latest -- you know in the first person shooter games yesterday.
Electronic arts very heavy on that -- lot of Star Wars games -- as you can imagine.
Getting to that -- biggest you know.
Bob -- and then Xbox Wednesday I'll read French if you will coming out that brand new Xbox just -- Microsoft.
Not for the same price -- -- hard drive capacity.
So you know they're trying to do give you more bang for your buck the question is connected didn't give a price tag is going to be an add -- it could be a hundred.
I've seen some reports -- 150 bucks they would give us -- the prices only -- -- -- titles also unclear whether they'll do this holiday season.
But certainly they're starting to hype machine right now.
Robert May the force be with you thanks for the voting and -- the next couple days.
Game on guy's Robert -- out of the.
Three in Los Angeles to be there well all day I think was -- tomorrow as well he's there after him.
Michigan -- listening really adjusting and they said well why should -- Why don't care if you don't have a job and I money -- by the two games.
Yeah but if you do have a job that you do have money you are -- video games and a lot of people still are.
But are you a media fairly not even -- these companies struggling let which is why -- that they are trying desperately to reinvent themselves.
I -- the fact that even -- coming -- Pacman and Donkey Kong all over again.
It's much like you know taking.
Old movies three -- yeah cycling the things that work -- And that's people are spending money on that that's for sure people are spending money on.
Men's clothes as well Spencer singer is here with a sales manager from Billy -- Men's luxury -- -- story here in Manhattan and I've yet to visit.
But looking at some of the stuff on deathly gonna have to make a trip down -- -- with Spencer great -- how we are and that's what the biggest theme and maybe the biggest question we asked every guess we have on the in the retails the segment is.
Are people spending money as they were 345 years ago.
Well it's deathly slow down in the path couple years but I'm seeing a trend now where people are starting to feel more comfortable.
They're not as extravagant there's they're shopping a little smarter.
Pieces that are going to speak.
For awhile you know.
Stuff that's gonna have longevity.
And that wears well and that's kind of what we believe and -- -- -- To Billy read it's from Florence Alabama.
Trying to bring this southern red luxury I guess you'd call it up here.
This a tough time to try to infiltrate some things so entirely different are you finding people receptive to it.
Very receptive -- right now the the whole Americana trend and going back to grassroots is is.
Is this what people are into they're looking for great quality.
Everything we do is is a 100% the best we can do it company's very particular about what he doesn't -- fabrics and and and things he uses.
You know I was reading is very funny article and at times writers describe southern strong senior in college with names like shells and and told ridge.
And I went to school in the south.
-- -- for twenty years I know guys like that he described as dressy casual whiskey soaked style so it's it's certainly get a style that's very dressed down.
But -- the same time you can Wear it pretty much anywhere and it's it's very seems like it's very comfortable clothes its its extremely console has kind of like a southern gentility.
Meats like a modern day the static.
Very easy to where.
Meaning you -- -- dress up and it or you could dress down he covers all Paul Thomas.
What I found interesting and I read -- -- interview.
About Billy read that -- icons are Jim Morrison and Johnny Cash so do we season sort of melting of the two of them in the line.
Well deafening music is it is definitely he's definitely influenced by music.
It's a big part of -- -- we always have live performances down and you know.
That's about the about the bond street shop in and all our shops you know music is a big part of and what we do.
They kind of creates a great energy and and a and a fun feeling throughout the shop you started with you that you don't -- -- storefront.
And -- that has grown to several occasions and you're also in that department that was as well all right yes sir yes -- -- -- Where in sacks.
So our retail bit our wholesale business has.
It is is blowing up I mean it's been great.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Well it's it's always agree it's a great way to build your -- to expose the brand so people can come in and and and find out where where our stores are.
And community experience.
-- what believe me it's all about.
On Father's Day is coming out yes and so everyone's always looking for gift ideas for -- it's never the easiest thing to do with.
But -- you'll sort of along with your style it's very laid back in the you've got -- several things that you think dad might like definitely definitely brought a couple things here.
For want and this the dop kit.
Which is great for traveling.
It's done an -- event -- -- -- Really handsome retails for 175.
I'm great for dad's toiletries or -- grooming products who I really love that.
On another product is the driving -- -- a great traveling piece really it's.
All in one issue for the weekend.
-- and a quarter then as well.
Really comfortable just really easy.
Again we also have the classic ties the traditional gift.
That we played around with some some fabrics this season we did some -- bray we did and it.
Again also the the -- as the slump the -- polo which is great retails for 95.
Great to pair up with a -- -- those -- Denham.
I love that and then the Florence buttoned down which retails for 165.
It's it -- it blue and white you can't go wrong with that with the wind and you know we just played around with the fabric again we did in the -- cotton.
Where it's really well just really comfortable.
We seen people come out and shop for Father's Day mean -- oh yeah it's up all the top holiday shopper we have money when you don't have any money.
It's -- you almost wonder if it's worth it at the end of the day people come in and yet.
Absolutely and that's important being that you -- -- -- that he does a lot you know his undercover but he does he does a lot.
People are out there they're shopping.
It's been great it's -- -- it's it's been great so far I love the stuff -- driving issues outstanding were making the transition from flip flops the driving issues a lot of men are doing that so that's a way to do it in the summertime.
Billy -- dot com is the website check it out Spencer great to see him.
Thank you expect to see here from the Billy -- men's defeated here in Manhattan it's at Bloomingdale's is -- -- -- the -- it was a go to the website checking out.
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