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Isn't so hard do you believe that -- be positive right now what would happen in -- and while -- we started the day and we came back I mean look at 29 it's brutal.
And that we pulled back -- mean the dollar pulled back oil pulled back everything -- just slip and pressures European pressures.
-- -- Not badly though without that kind of started -- -- kind of started.
Up a little bit down a bit -- little more down a little bit more now assume we go from here about midday up two points now on the Dow Jones industrial I was coming off the B 23 down on Friday.
And a lot of worry about going into the weekend you know.
And I actually you could argue that you beautifully and -- more considering.
Many said we oversold that -- to work.
Many say we oversold worries overseas for every woman you know there was a threat that -- was gonna default in the over the weekend -- we going to panic mode and sell off here we are.
You know I think it's much worse we got heavy selling off.
Over the weekend is as much a function of what happened.
With the flotilla off the coast of you know Israel and -- on -- what's going on in the Mediterranean.
As much as it is so what's going on in you know.
Some eastern European countries like Hungary you know I'm -- adding I think -- is geopolitical fear out there that somebody else is gonna happen.
All along -- it over the 48 hours over the weekend.
And -- you know you can't do anything about it until Monday morning and -- -- down 323 on Friday afternoon might be down 623 on Monday morning.
Playing aggressive taking continue to get interesting as is tomorrow the Greek stock market actually close but is down about five and a half percent today it was down 5% on Friday.
So you wonder how much of that my comments I mean my days and -- -- work in this manner -- his concern to ignore.
On hot -- joins us right now managing director Elaine cold trading once again -- -- -- welcome back to the show.
Thanks for having me what do you what do you think about Friday afternoon me I'll be accurate in saying yeah I was about our jobs report it was about -- -- what was going on and hungry but it was also about.
Just that you general fear of of what could happen around the globe over a 48 hour period.
Absolutely and you could take your pick on this one and and when you look at the jobs report outpour that was.
Then you look at the geopolitical concerns.
That's not forget about the gulf oil disaster there are a lot of things out there right now and it's all spelling bad news for investors for traders so to have that type of a sell -- going into the weekend.
Is one thing but I'm not to surprise right now with the market reaction today I really I'm expecting we're gonna have an update by the end of the day today.
Mean because it seems to me that nothing that's happening is instilling confidence.
You call it as you say I'll take your pick no confidence in traders in consumers in anybody in this point in what the Obama administration -- Yet whether it's a couple of things here when you look at -- on Mondays -- first trading day of the week.
If you go back the last five years the markets have actually gone up 80% of the time on the first trading day of the week.
So I'm -- with statistics someone -- throw all that negativity out there and say you know what we're gonna go up today because of that.
Plus it was only one economic report today we had zero tomorrow.
The real headline story will be this Friday but alternately though -- regardless of what happens over the next four hours.
Over -- the sentiment on Wall Street is very important very negative.
We're looking at Washington and we don't see anything that's happening there that's actually going to turn things around we don't see job creation is really happening in this country.
So -- civility yet you're gonna have that negative feeling going on and -- I'm one of these pacifists that's out there I can't be optimistic when this market right now and I think Friday's sell -- probably just the beginning of a massive sell off its gonna take place over the next few week.
Solve my and that that -- kind answers my question my question was.
Are are you one of those who was gonna buy when the fear and misery all the other index we look at is at its worst what you one -- those gonna wait until that turns a little bit.
Got to wait and see what it -- and you want to follow its friends and right now the trend is going down and yell when you start thinking about what's happening with the markets with the world as a whole I mean.
Americans are not feeling too good these days and and we had an unemployment rate.
That I mean the president gets saudis he throws out this number of -- 400000 but we all know what the real number is we're look at -- private sector employment just not there.
So when you see that you start thinking about the -- at the prospect of higher taxes in this country limited services we have some municipalities that are declaring bankruptcy.
I think hit.
It's just getting worse and worse by the day right now what we really need is some sort of leadership that is out there are real there's somebody it's gonna get out there and say it and get emotional and really did -- and say we're gonna get back to work and -- everybody.
Rising again that we -- -- gonna Ronald Reagan days.
So you know then you're hoping like all of us I guess -- big turnout at the polls tomorrow especially tomorrow's primaries to be big -- as to what we're gonna see again in the fall.
You think the administration's gonna be listening now.
-- -- I hope they're listening I'm not so sure what they're listening to -- I mean when you started when you start looking at at some of the reports that are out there.
From this president of its kind I thought it was suspicious actually on Thursday when he came out.
During his speech in Pittsburgh and he said work we're anticipating a huge number I would think that about this CEO of an organization.
I would be privy to a lot of these numbers before they're published in the world.
And he evidently is not Saddam Friday morning we -- the poor rating that comes out and he's trying that you know it did spend that a little bit.
You know I did that and talk about spending we -- talk about this BP oil disaster right now the fact that the president's coming out and he's actually trying to say that BP should not be paying its dividend you know what he's trying to do now is spin it again and make.
The he's trying to paint the picture of these so -- rich guys at him BP stock and are gonna get ten billion hours which is an annual that's the annual summits that the quarterly dividend that's been paid on the twentieth.
So he's thrown out this picture of all these bad rich people -- -- runner that are running BP.
And they're the reason for the -- oil spill he's spending this right now and nobody's quite picking up one.
Yeah it's -- I think people probably the average investors probably leery of dipping in depth.
DP but what about some of these others and he clearly Exxon and Chevron -- some without big integrated names are gonna survive all this and they'll be fine.
Do you think -- attractive right now are they still caught up in all this to where you want to stay away from them.
Okay you look at when the BP oil disaster started on April 20 that you look to current -- you're going into the market today.
That's hot six oil companies have lost a combined 150 billion -- handicap.
So so when you look at that clearly -- this sector is down it's just getting blown up left and right.
But overall long term crude oil is as imported humans as oxygen.
You need it for everything occurred just and doesn't just make energy products it also makes plastic.
Carpets fertilizers things that the world needs to survive.
So when you look at that product alone and I start thinking of -- and not just here in the US but overall.
Yes I look at those Big Three companies ExxonMobil ConocoPhillips and Chevron.
I love those companies -- plus -- on a ball companies knows that has a fiduciary responsibility to its shareholders and the company has bought back.
Tens of billions of hours of its own stock it's paid out tens of millions of dividends over the years it's a great company then investors probably have some portion of it and a mutual fund or for -- -- whatever they're not turning it directly led.
That's a great company to look at.
-- largest summer camp out there I'm sure you're right some everybody in some shape or form has it.
In their portfolio let's talk about the cash in your portfolio though and quickly how much if any should I be -- -- at this point more than you've been in a while less.
More minimum 30% right now.
Used to be holding onto your cash cash is king you should when you go out and spend use a debit card or payment cats never use credit.
Look you have to consume and hold onto your -- because.
There is so much uncertainty that's going on in the world right now.
There it would -- word literally this economic recovery is like toothpicks so when you're going forward you need to hold onto that cash and navy when things do turn around Chris as you mentioned.
Having some type of a signal that things are improving.
That would be the time to start taking some of that cast and putting it back and equities but 30% minimum in your portfolio has got to being cast right now.
I was noticing earlier this year when we had you -- -- you like the S&P up 5% had at the time that's by the end of the year at a time it seemed like.
Now I think a lot of people would take that 5% by the end of the year.
If you still believe that then you believe that from this point we're going to be up more like seven or 8% -- Celsius going up by the end of the year.
I -- I actually see a little -- -- turn around going into the fall months.
And I'm still -- -- 5% for the year.
You know -- -- when I came out what that would that -- I've projection when I -- 5% everybody loves them and started -- because they thought it was so -- in the markets actually shot up at the beginning of the year but overall -- we should expect more volatility throughout the year it's gonna be a Tug of war match between the bulls and the bears who will continue to see that this year but -- -- only now you -- start seeing some type of spending that occurring.
But it's probably going to be from corporations that so much the American consumer but in the later part of the third quarter going into the fourth quarter that's when the markets we'll have some type of a Santa Claus rally.
We should be in decent shape apple won't finish out the year at a very benign 5% gain sound.
I'll take it down.
Yeah I think right now a lot of people would that 5% Stephen all the volatility we had to sweat through.
To get there's going to be difficult though Todd thanks a lot we appreciate it.
-- -- -- -- -- App after app I think it's a grand -- thanks for playing him we -- we there yet we're giving you work at their attacks on number managing director and called trading.
Has been a big fan of the -- -- -- In those big energy substitutes like I know you hated Tracy.
I'm gonna do I'm gonna do it thrown the baby out with the bath I'll.
I know all I know the world.
But that's what I'm talking about the energy days now what I did and you know right below the rubber -- out with the bath water is that better than not -- I'm not -- -- human being in the -- -- can think of something and -- -- and -- is all encompass.
During the break.
But -- someone else you need your help with that.
We'll see them there.
Welcome back -- dot com live Georgia -- and be who was that -- I don't know.
But apparently he was one of the bomb -- fun.
I wanna markets name is Robin bond and now of course it -- I'm not looking up and -- now all all the Greek bond for the -- when and where it's been bond Robin bond triple its cue ball and limit later on the show she -- talk was about.
Some of the legal wranglings going on in the Gulf of Mexico Ross hit shot talk with rich -- -- about Washington's feelings of -- of their latest on.
What's happening down there but first I would like to know.
More than anything else we'll call -- -- -- -- -- -- -- -- -- Okay Wal-Mart one is constantly.
And they constantly throw darts at Wal-Mart want my doesn't do anything right as far as many people go meanwhile it's it's me pick me capitalism in the but you've never been there.
But it's not in mind I think it.
That's why this is -- -- -- -- -- on the field I want to -- -- -- they have road trip I'm having cameras and everything.
And -- what Wal-Mart is constantly getting abuse well now -- isn't it.
-- abusing them yet again and yet what partisan pretty good thing here they're partnering with an online.
College to -- college credit to their workers.
Keep on asking earn up to 45% of college credits just by going to work so making it you can get credit for -- tasks.
Really believe not just like loading the truck -- purchases.
If you take a Wal-Mart training clashing at college credit for it.
What I understand that.
Right -- also they -- they they're working with the American Public University is an Internet based college -- -- you know I now I know but nevertheless.
And of course a lot of the -- planet what are they doing is the PR stunt one point four million people employed by Wal-Mart that you give -- -- that.
The thing is -- you need to understand is enough free credits still gonna have to pay -- associates degree -- -- like 8000 dollars but.
You're going to school and you working at the same time you get it's double duty works for Wal-Mart it'll lose their you know back to school -- -- their people can climb the corporate -- The whole -- a Hummer and still be bush slammed them saying.
Workers only make 111005 cents an -- Huckabee before -- 8000 -- associates degree.
I think it will decide -- there might well I don't his account is not so bad for stock and frank yeah -- up front -- you go in your stock -- use any credit for what the heck is wrong.
And a lot of good students -- gotten credit for internships mean a lot of blood -- you have to give credit to them for that but still that's.
I don't know.
I mean I'd I'd believe judge males when he said.
Danny the world needs ditch diggers to these and everybody has a college degree ever read but even what's that I with a college degree.
Saying that every -- I -- going to go back to cause you have to pay if they don't want me they don't know but they have the option -- -- another added.
Benefit that the company is offering its people.
I cuts mostly -- You know -- you know I'm not a big Wal-Mart thing I lack.
I have been there and I think.
-- the debt the mom and pops they turn the screws on all their suppliers.
They open up a big Wal-Mart and they say you know what.
300 meters down the road we can open up an even bigger Wal-Mart down there as they leave an empty building.
And they go down the road and they open up an even bigger super will -- gigantic enormous Wal-Mart is what they're gonna call it.
So I like that at all but isn't -- isn't this like scorched earth is like the scorched earth mentality.
That that's capitalism and I know we have we've we as a people have allow it to continue.
We tell you -- that Noah Kravitz.
-- -- -- on my side and just couldn't come.
Taking his own opinion though right away no Ed monarch I hadn't seen before and Doug joins us.
Are you -- are you went beyond our -- are you -- buy you a fan of Wal-Mart.
I am Switzerland.
-- very well done now we all know very well done.
You've got more important things to worry about like what's happening at the developers conference right now and apple you're out there and what what do we expect because it's always hard to tell -- happily -- so close to the best.
It is actually I was setting -- to you you know video interview over -- and very polite and that apple -- at the end shoulder Robert and I hear -- Thank you really appreciate -- My street and that that was code or -- I.
What -- Gator side you might not -- -- due -- our ball -- -- but yet they they are in -- little bit different who they're particularly -- -- do you live -- while I recognize when he had bailed I owned it a year.
As yeah dot -- work -- need you on.
-- committed to developers conference so.
Respect you aren't sure about yet the banner year out but -- -- that are waiting to go in yet or at worst you jobs in its.
He better get -- -- -- about Apple's.
These big dinners.
That are at -- -- to be a lot about.
-- programming and you know evidently we're in the outbreak in Ocean City flyer so there have been a little -- apple TV product should be out of the -- you'll be on the quick thought -- got beaten.
-- -- -- -- -- -- -- -- -- -- -- Abundant life and that video -- is that is that something student earnings coming through.
Yeah absolutely yeah we heard about -- artwork -- -- -- that your -- predicting -- and they were so leaked a couple of weeks ago about actually played a game of actor odd tweet it.
About cap it all in the next article Marshall.
Talking about video -- -- on camera -- video chat.
I -- camera back.
The previous versions at much higher written -- play -- -- -- -- can be over here I thought.
-- -- think about the big picture comes there will be.
Will it be out Wi-Fi only because -- you know -- -- you know much publicized problems well.
The other network idiot shall crush network -- -- -- out.
That we ensure that you see it through the video chat.
Will it run on the only network desperate -- do I go you know.
The cat the cat.
Pitcher and that they have the older that you check out from Chicago or -- negative.
-- servers now.
-- it feature will hit it you know it actually -- Now.
-- yellows to get an eight -- see what about Verizon you know there's always the rumor that does this is -- -- be a time when Verizon is announced that they're going to be able to carry the iPhone you people here that.
Yet that -- it and and the that I thought -- -- And actually Wal-Mart.
You know that you're never answered -- I don't think it's gonna happen today.
That -- executive went on record just last week seeing Nolan you know -- very carefully worded it that don't.
That there are no immediate plan you know immediate a year -- I think today in regard.
I think we'll get I I like the rumors I don't gain time or I -- Christmas.
That is you're not right -- I would be very surprised.
They played all right we'll be political competition -- I only -- -- I don't think it.
Not we really appreciate you like risky and you know police arrested -- We're glad that it and get that -- yeah I don't know I haven't really given that.
I absolutely well I got it if it should be updating cute people obviously people Blackberry tumors are surreptitiously -- him back there a great guy.
I believe that -- bags -- credits and energy for full dog -- -- in the apple that will let developers conference you know I used to work for Coca-Cola.
And we went to a call center one time.
And there was somebody in the call -- drinking a Pepsi.
And you would have thought honestly that I mean it was world with the click on the camera that's that.
It's a little bit means a little bit more than that though you do do and this is business to business and you go to the call center in the tire call centers taking calls on Coke Coca-Cola.
And -- -- -- drinking a Pepsi.
And I thought I thought.
That's probably not that cool -- on the -- above me that thought it was a lot worse than just know.
I asked if you don't like you know like him men who we asked incessant attention down talk about the -- -- the oil disaster.
White House is gone gangbusters on this.
Let's go to -- first.
Actually I don't drink soda so on the -- snapple.
Snapple won't cut it kind of where it at the tee ball dinners you know as a kid it was those kind of weird because all the other kids would have soda and gave -- -- -- -- the best stuff on it just got better because rich said so well that's right.
I -- rear admiral Thad Allen.
Give us the Pentagon say I'll brief saying what's gone on down there.
Well BP could look at a pretty sizable bill Robert Gibbs said that BP can expect a couple or few billion dollars worth of tab at the end of all this British -- says it spent already about one point 25 billion dollars.
They're still oil hemorrhaging into the Gulf of Mexico that Allen admiral Allen described this as not once -- it's almost.
You have a number of different.
Hundreds of thousands of spills that are all moving in different directions so it's it's going to be -- massive cleanup.
Admiral Allen says that they may have this permanently capped.
By August but when you talk about the environmental impact it could take years or will take years to -- This and make -- you say billions of dollars and in the billions that I guess that Allen and others are talking about now is this.
The cost of cleanup resist the amount that BP will be fine because we -- -- an attorney earlier today and it could be.
Several different things the other going to be lawsuits he estimated maybe six -- seven billion in losses that that's separate from finds the.
Yeah I think it also includes -- Robert Gibbs says the cost of cleaning this up the cost of the response and on top of that -- -- finds it pretty filling is gonna have to pay on all -- They also got the bit about the reimbursement procedure -- criticized British Petroleum.
For reimbursing some of the folks.
Who were affected by this -- as far as local economy is concerned those who have jobs that depend on the Gulf of Mexico in those jobs of perhaps could be ruined for the next few years while they still that when a clean up the -- so.
The mechanism to -- these folks to reimburse these the balance of the British colonies to work on that and what you really got a sense of in this briefing is that up -- down.
The government and British Petroleum no one expected something of this size to happen and that's obvious because you don't.
Have the type of response that that a lot of folks and hoped or expected -- from an oil company and from the US.
But is -- some sense of we're getting there are now down that -- is as the optimism come back a little bit and I know tar balls are coming on to ensure they're still animals.
That are dying but they -- seem to be gaining ground now.
There is this weekend there was progress and that was the first bit of progress that we've been able to report fact that the EBP's latest technique is actually.
Capturing some of the barrels of the -- the problem is.
You still have the week you still have oil hemorrhaging into the Gulf of Mexico -- mean you just look at that that shot that underwater shot and he.
We've talked about progress but still is off this oil leaking into the Gulf of Mexico.
And it's going to take years to clean up what's already been spilled into the Gulf of Mexico so the idea that finally we have some progress yet but we're still looking.
Towards the end of the summer early August when we'll actually have a permanent solution is admiral Allen puts it.
Did capping this well and having a permanent fixture on -- stop all this oil rich Edson thank you sir.
Thanks guys -- -- down and he came off.
Did you see that guy packet that -- -- -- -- -- by the -- and I'm a real sea -- sweet see southern sweet see you blushing right.
And -- go with a mop.
It -- -- trying to mop up the oil that's ridiculous.
It's so daunting it's so overwhelming but I think everyone's just trying to do their part I know -- knows what to do I mean you know and Robin bond is with us now on Philadelphia and that meant to nearly ten times already.
Attorney -- workplace.
An expert to help us figure out what it legal ramifications are here -- my first question to you is it get it done too quickly.
Are we like you know everyone is so quick to say -- -- -- you're suing for.
Well you certainly don't know what are your damages are going to be right now because -- take a long time to manifest themselves.
From an employee perspective and thinking of all the thousands of employees that are out there trying to clean up this disaster and contractor contract workers National Guard workers.
-- if they are exposed to toxic chemicals if they become -- could take a long time for damages to manifest themselves.
So yeah I don't wanna settle to scenario likely to be settling before you even know all the damages that you've been -- And as you know lawyers always make people sign a release agreement so I'll pay you money but -- I do.
And paying you a certain sum of money which you agree not to sue -- for anything else related to this disaster.
I guess that's -- my point is.
You're being hired to clean up and oil spill.
So you would expect that you're going to be breathing in.
Some toxic fumes MEU do you understand what I'm sandy it seems like you would expect that hey this a very dangerous occupation you might get sick doing and it's.
A yes certainly as and that's why.
The Occupational Safety & Health Administration has very stringent.
Safety rules and requirements that employers have to follow to keep workers safe especially when they're engaged in dangerous activities.
And you oil rig workers.
That's consider -- most dangerous jobs there than exists.
So people like Transocean and Halliburton and -- in BP the defendants in this case.
All have to abide by work rules and in the negligence lawsuits that we're seeing this is one of the big questions as -- these rigs.
Compliant with all the required safety standards or were they not an if they were missing something that other rigs have.
Then you have negligence or gross negligence liability and potentially even.
Criminal homicide liability under the Department of Justice investigation.
And we know this could go on for years we know that there's Exxon Valdez cases that it would just settled you know months ago so this I'll go on for ever right.
Well at some of these twenty years happening twenty years of selling that and and there are so there's a reason for that because clearly the longer that that suits remain unsettled the longer the company holds onto its money.
They try and tire out that people that are suing them to try and turn the tide of public opinion by PR blitz says there for.
You know people forget about it twenty here's -- very long time and there's a real low litigation strategy and the corporations -- to make all of us forget about this is possible.
Which is why we're very grateful for an independent media who won't fall for PR but will go out there and investigate the truth and stick to the truth.
And screen up all the PR blitz.
Robin we have about a 130 lawsuits so far.
Be in it that are pending on the cement Amber's gonna go way up what what's your thought on the total.
Liability that BP will have -- -- throughout this -- exactly -- we heard this morning six or seven billion to me if it's six or seven billion rights -- tomorrow handed over and say please go away.
Please LA actually act as I've heard they're making six billion dollar today and profits worldwide and they're drilling -- -- You know I really can't even begin to put a number -- it because.
How do what if all the oyster ring.
Goes away and the fisherman go away at an all these restaurants who rely upon that says man the seafood cat -- anymore.
And people -- entire industry and how do you even begin to put a price -- that.
-- it's very hard for us to know right now the billions and billions of dollars but I assure you the latest series taking this case.
Are not gonna put a number on it anytime soon.
But that actually -- you know I had that part of the question.
In my head this morning how do you sue you know restaurants -- for lack of for lost business.
And getting the sense that how you know and you probably -- they would have had a -- tourist season but yet we're coming out with a lawsuit.
Well the it's called a superseding intervening forks -- -- very to have the fact that.
Because of this oil spill yet there's an oil pollution control act to.
-- -- -- that act says.
If you discharge oil and -- and applicable waters and it's shorelines you are responsible for all the damages that instill as a rock salt and you're negligent act.
So they're suing under a theory that the law permits than just sports recover lots damages.
And if you're no longer able to fix the Gulf of Mexico waters that you're not able to get this you're not able to serve the restaurant so you know they've got a pretty good it -- right there.
You know there -- it suits being filed against BP.
There's suits being filed against Transocean that's the other part of -- still yet to find a definitive.
Faults don't we before we can actually figure out who needs to pay what.
Oh yes and it's going to be who's responsible the guy who has the -- the guy who did this and mentioning that I had to shut off valves have placed the guy who created this that a the other part.
-- all these defendants.
Are going to be pointing fingers at each other to say -- we weren't negligent but someone else's negligence.
-- safety shut off -- could've prevented this entire.
I'm in the course of discovery of these lawsuits will find that out we'll find out whether people talked about using the safety -- what they rejected it.
For cost reasons.
Or for other reasons but we're also going to look at what other oil rigs.
Use -- if other oil rigs used certain safety devices that this -- didn't then.
Well with the loss laden -- you want to check I've got an attorney and workplace legally extract play these questions can go on and on and on and you know one of my questions was going to be.
If I don't pump if I don't have a patient attorney -- money on the table because -- she said Exxon Valdez to twenty years it's nice let's say I filed some thing.
And that I can and let's get paid while it's in their best interest to close the case so am I leaving money on the -- -- -- but then again get the money and run.
If you know you'll money on your house you'll money -- your business your money on your boat.
And you need money right away -- I mean it's a visit if you think your best interest also the settles quickly as possible you don't want me waiting twenty years.
Looking it and I mean although you gotta wonder if the people that waited longer.
Ended up with a bigger pot of gold in the end of the day.
And might have -- all right let's -- a quick break when we come back we'll say let's move in this market now lower by point 68 points point 37 points or not a couple seconds and I'm Michael positive.
We'll see a second.
Boxes dot com live up one point 12 up points to one point 21 points -- and -- -- wanna keep -- today by the second on this one.
We are just up put somewhere in the middle and not do anything we're down three point threes if you're open for a bounce back.
We're not quite there as of yet but the market is still moving and -- gonna tell us what's move it.
It just -- at a question and that wonder if it's people it's gonna sell today and any green and Adrian -- just stuck it out and CBS and talk about this earlier actually Walgreen said that it was no aren't gonna participate in CVS Caremark.
Pharmacy benefit plan the business they -- -- no more there's no reason for us to do it.
They pulled out CVS down what is and a little bit but CDs down a lot because of it some confused about this because they just don't understand how works.
Well Walgreens is a provider bright yes CVS Caremark.
Play -- have their plan.
Walgreen has their plans and CVS Caremark some of them.
While racing in no need to do it anymore so they're pulling out they're basically saying it makes no sense to us anymore but it's -- win -- -- -- have these CVS Caremark plan and I can't.
Use that -- a wall and it won't mean you can you won't be able to go until -- had no -- with grandpa appeared I believe is going to be won the latest blog -- raids and I think every drugstore in New York -- His sixty Walgreens CVS 8% today and it -- pretty well man denial and we have a CEO on.
Upgraded to a buy from hold at Citigroup.
Basically they're saying online -- still rock and Colin especially when you have -- -- -- closing more people gonna come to the -- -- and -- I and I'm still.
Of all out by just about anything on the web the dine -- thing -- -- -- -- -- Mean honestly not know I'd look at a dime and I don't look at it it's a analysts nice let's -- good color and clarity you.
I would item in one's black -- not it's pretty simple.
I would doubt that isn't a very good diet that they've -- is this an onyx not only dominate the diamond that is still the -- -- -- -- At the I don't physical but no that's a diamond it's -- 1800 dollars is as important as early evening thank god did not meant.
Bristol-Myers actually up today they have eight experimental drug designed to enhance the body's immune system.
Improve survival in people with a deadly skin cancer stocks then all good news Kindred Healthcare respectful -- upgraded.
Kindred today to a -- from holding the stock is oversold.
But like many health -- stocks -- health care service provider be able to mitigate any kind of reimbursement risk.
And that the second quarter expectations and finally telegraph buyout that bio therapeutics is you're buying you buy -- -- -- Well -- -- Biotech.
Spanish -- an -- -- also buying it agreed to buy it.
Now tell Chris is 49% owned by service -- about this earlier on Barney.
This is one of services only shining stars in your portfolio of.
All right our guys here Charles Payne part of awning companies who get the whole company rather than -- thank god.
Bomb is still is really did you talk about servers and I thought that was kind of amusing and then he said something about.
I was doing I was working on my computer when you're doing a site when you do in the seven million -- topic I was sort of paying attention right there but then you sense that there was a benefit that somebody was -- -- to do business in Venezuela.
That's what this spit take with my coffee.
That's actually benefit that's and he would -- just so much risk in doing visited Venezuela would run.
On the other Canadian companies it's like -- of -- of the committee again today -- you know Canada and Canada have really gets over -- that they have to spend zero money on defense like who's gonna invade Canada right right that's about -- 300 billion right there.
And then of course -- go they can do business in Cuba and other places like that candidate gets over many really good.
Got to spend all the money on a riot police have been a good hockey fan FBI out and Canadians win or lose it doesn't matter is they play Indian and they're gonna riot acts -- -- talk about whether or not you think it would sell on any kind of any kind of an upward movement today -- -- -- seem -- sounds I think most of the sellers sold Friday.
I think people will you do have a group of people who are selling it to Riley even.
Now we get that consumer credit report at three.
This normally comes out the same -- as -- jobs report.
Yeah so overlooked by Wall Street I think this report is so important because of people don't have access the credit they can't spend.
As businesses thought you know I mean this this report is.
Very very important it's been it's been ugly it's reflected.
Consumers this savings was also reflect the banks.
Not wanting to extend credit to people.
Is it hard to read -- for that very reason because -- can reflect people -- not not using credit cards not.
Going after -- -- because of being more conservative they're hunkering down at the same time as it is -- It's hard to interpret accurately where were the driving forces but you know it's a little bit of both then of course we want to see both of those things sort of -- although.
When my pet -- of venom consumer spending too soon you know he's -- money for three months and all the -- feel good and you go -- spend it -- You're just to your point the consensus for later today in that consumer borrowing.
Net credit report that net consumer borrowing will be it's shown increased -- -- -- you're wrong last time now they're there and wait wrong -- Haven't they got floor so that's what happened to -- happens but it's one of the things people are just -- the anxiety level -- it.
It's a combination of fear anxiety in a lot of anger -- people -- just pissed right now.
Armed by the way he's gonna make mention days and while we're on bonding company -- its rich -- NBC he said.
That Helen Thomas was not present at the the the announcement this morning.
She has just retired so on Thomas is announced her retirement long time the Associated Press.
White House correspondent that's very interesting -- -- very unfortunate -- while you go like kind of reminds me Jimmy the -- you know you go out like this that there is that the -- and yell at -- when Helen Thomas Frist says that I thought yet you're right they -- go back to Poland and Germany nice places like -- now an American belts and some really nice plays that they call home.
How come I'm so sick I mean this woman has -- and then the.
Here for years and this is you can -- -- lady crazy old uncle any any old people can just come out their disdain like bouncing off season solutions address he -- secrecy humble.
-- -- -- -- -- -- I just wanted to make -- make that and why have an option right that it's -- controversy over comments that two parts are frequently are -- back to stops there -- three needs you like today in doubt when he needed them in the first on PCL and that's priceless.
Yet you have I am not pounding the table like the way it's acting today it's extremely oversold you know what I think I think if we have the fuel prices stay low like this.
And the -- -- relatively strong.
That might be one -- -- -- people might decide to go ahead and travel specially after a couple of years vacations.
And so I just like the restored on Priceline I think it's -- so.
We heard -- before that the online travel sites should.
Farewell and honest -- -- as you said discount shopping.
Is that a lot look at the fifty to a kind of stuck his lots.
-- you know the caveat of course is that this moves at 45 point clips it's not -- for the average person even.
Joy Global one you have lights very long pants and get away excellent -- pretty good of late that they had an incredible earnings report about a week ago.
And again this -- one of these names I just think it's extremely oversold.
You looking for momentum right now -- -- because we were talking earlier at the very beginning of the show a touch on Berger about.
When everybody is the sickest.
When the vick's is that -- the highest than when the of this misery readings and every index you look at is at its worst.
That's the time to buy -- -- or march of 2009 so -- trying to figure that out.
Right now we're gonna -- on that stroke were march and we could still be November 08 in his.
You know you don't -- -- be too early but by the same token you -- recognizes some serious value out there.
Since there -- some good names like joyous and so selling off and you look -- are you say you know what all lot of the other names of sold off for good reason joy not.
Certainly aren't just fun.
And inside for the right and because look look at Friday's action -- 90% of the mine was so yeah that was like and did everything that was -- closer.
Close to the Kurds in -- you've been looking for -- along.
This is when -- really gonna have to take some time out as an investor and look at an income statement look at some -- you just can't look at a chart.
Or you know you -- -- look and say you know what they are taking marketshare they do have a pretty good product -- on them at their margins are actually spending they do have some pricing power.
I can't wait to get cute -- -- but you go back to the most recent earnings.
-- -- you -- that's -- most recent earnings report that they.
Guided well beat expectation and that's a good placement investor that's a good place to begin our right and then they guided imagery and pulled down by the -- right.
You know you go and then look at that that guidance is really important obviously -- beat and you gave me great guidance yet.
And you're running a business -- it down because the markets down Baghdad.
Yea you know got a lot I gotta tell you -- -- you know I'm I'm -- -- -- time now with what our subscribers and you know -- it's it's tough it really is -- I mean you can tell someone that -- not gone out of business but when they're afraid they're -- you -- have an ironclad -- last one and still not too familiar with this -- -- -- -- -- -- international -- down about 35% right now -- -- would -- British Petroleum but -- -- have about like seven -- eight rigs in the -- -- deep water -- most of their revenue comes from outside the United States and -- deep water capacity from 99%.
So this is one of these that.
And they don't want to phrase it with the bath water.
And fewer delegates it.
We're kind of replacement panel worked -- -- -- in sympathy actually OK and sympathy so of that assembly would be -- -- but it hasn't committed the felony that BP is committed.
If you look at four winner.
-- this oversold that space without the -- do you think that's the name yesterday.
But -- -- it is great but just quickly that was meant to my point rate so much is moving down in sympathy.
Thought the fundamentals go back and read the reports he was forecast for some -- -- -- -- happens -- and -- but you know right now that well you know what I gotta -- we'll look back -- this few months -- room -- -- say Kelly we missed an opportunity but.
We hear the middle of it.
Like your second the second oh my goodness and you know what to make you sick people for a -- shots and -- -- lawsuit case C a mile.
-- member of the company with.
Varney incumbent will take -- Lleyton -- And -- and welcome back and let him.
That's not my favorite -- got to look what's happening we are now up twelve lots and points on the Dow and -- it.
Grant he cannot effect going on here with our votes are but it's it's green so look here and we are right we've been talking about all the times Thomas absolutely have to move on.
-- Iraq I'll tell you will call my eyes and you never said anything even remotely likely -- Thomas said.
Over the weekend.
Is the greatest coach of all time according the sporting news' John Wooden passed away.
Late Friday night for -- mud natural causes -- was 99 years of -- the wizard of Westwood.
And while well known for a lot of the saints.
Talent is god given be humble famous man given be grateful conceit is self given.
One of my favorites be quick but don't hurry it was another one that was thrown out there I mean is there a million of you you actually someone out that I haven't realized I was.
You can't live a perfect day without doing something for someone who will never be able to repay.
Very nice I love that and that's it and it had Charles -- announcement about this earlier that this guy makes it feel like a slacker I mean you read about how to go on the topic was how fabulous he was out.
He was just moral and he brought -- to the game as you said and -- -- I feel like now.
-- -- Some titles in twelve years 80% winning percentage and has is still the record for long -- -- -- -- 88 games.
In college basketball only person to be in the hall of fame enshrined in the hall fame as a player.
And as a coach.
Actually it's sort of double legal.
And -- and in golf round wants to double legal that's it's doing some work so he's great athlete great basketball player won a national championship as a player Purdue.
It just the great teacher had not heard one negative thing about him not one.
And you appreciate this.
As -- all of our view -- well his wife of fifty years now his high school -- remarried and his wife for fifty years passed away in 1985.
On the anniversary of her passing.
He would visit her grave new writer a love letter and put on -- pillow.
Every month we're talking about.
Years now 25 years since her death and that he was.
Madly in love the also has 22 grandchildren and great grandchildren.
Andy started writing -- his philosophies teaching -- sort of put in the children's books and he sort of do in the fall appalled this is from his book inch and miles.
Its success is your great goal you must practice self control.
Use common sense at all you do controlling emotions is helpful to I should read this book I knew officially took the bait.
Good judgment on the hook he hates my friend was -- upon the drill.
With self control he'd be -- still rest in peace John Wooden plug time great.
-- every month.
Every month a love letter to his departed now Al Lewis joins us right now columnist and Dow Jones Newswires -- into and out.
-- good -- area of very well obviously you're familiar with John wouldn't say it's the Bosnian possible bit.
Think -- be negatively write anything negatively about him I don't think that I honestly I cannot remember the passing of anybody.
When it was such an outpouring of love for this guy.
Well I'll say one negative thing about him he's making us all look bad so -- love letters to -- flat -- -- to pass.
That I want my wife to hear that that your right I'll keep it down -- we will go we will go that far you wrote it that interesting article though it's it's sort of -- It's shedding light on some thing that I really.
Had heard about apple wasn't overly aware of Foxconn is a huge company.
And did their part of the largest manufacturing company gets in the world in China and they got a problem on their hands don't day.
But this is a very peculiar story Foxconn is on actually but Taiwan based content call on high precision.
And what they still as they build all of our ipads in our Dell computers are apple computers are Nokia cellphones if you have it gadget chances are.
It was built in one of their factories.
And -- have a very weird problem and in Shenzhen China.
Employees are jumping off of buildings now they've had almost a little over a dozen deaths this year.
They had a few -- suicide attempts on top of that.
But you know the labor critics are saying that these people are overworked.
They're captain of area.
-- sort of factory setting they live on campus and campus dormitories.
And you know I think the worst part of it though is not the low paying which which they're trying to address right now because they -- -- some 930.
Dollars a month.
But but they have these sort of militaristic.
Shop Foreman that really.
Boss them around a lot on the floor and I think you know twelve hour shifts day after day.
Getting kicked around by the man.
Some people are are jumping off buildings.
Scary stuff as Chris mentioned they meek.
Products -- our tech companies so you're talking about headsets for the the likes of Dell and apple HP Sony.
How does this trickle down in the does this affect our company's down the road at all.
Well -- companies are just sitting here lying to produce as much as we cannot be adding we're partially to rent for this crazy production schedule -- Steve Jobs himself was asked about this.
And he said well -- I visited those factory factories and -- and swimming pools and.
And -- restaurants and that they're nice I think they are right course.
Steve Jobs just sold his two millions.
-- -- and he wants to sell more of these ipads.
You know but.
Here's the other side of it it factory work has always been weakened -- dehumanizing.
I mean that's nothing new we we we knew that growing up reading about you know are hard of hearing about our relatives that worked in factories.
Yet you know.
What am I trying to say here basically there's a big production scheduled to make these things as fast as possible -- trying.
To make them as cheaply as possible and you know it this is a sign of -- and Terry this can't go on forever.
And yet decided it is this company employs something like 400000.
People -- suicide -- in China is actually per year thirteen out of every.
100000 people so this this -- -- in line.
With that normal suicide rates but the story is running away on Foxconn like at Toyota because it out ten people while jumped up a building -- a six month period is kind of alarming.
The other thing -- logged as reading your piece.
They actually accompanied.
-- -- -- and obviously great cultural differences that will never understand it's two cultures but the company was paying out large sums of money that families.
Of these people that committed suicide and edit it and they might actually be doing it for.
Monetary purposes for the families.
Well that's actually a theory that's been raised I mean who knows if it's true you know suicide is a personal decision I don't know why.
Somebody chooses to take their life and it might be different in the cases of ten different people but some people -- -- That there seems to be an economic insanity if you die on the job your family gets 141500.
May not sound like a lot here but if you're making a 130 dollars a month.
That would be a noble amount of money to leave your family.
I don't know.
I don't know how that decision really works out in the heads of people.
I think a lot of suicide is really did despondency.
This idea that there just isn't any hope.
But yes some people are saying maybe they need to lower that amount of money that they're getting to the families so that maybe people don't feel an economic incentive to jump.
Thank you -- we always appreciate -- -- crazy story out thank you Al Lewis okay Dow Jones Newswires and of course -- and he -- from.
One of the greatest cities on -- Denver Colorado.
Well we -- will be right back -- going.
It burns Dow up almost nineteen points much spent on the second me in -- -- we're doing something here.
I think we're gonna crescent doesn't.
And we might we might yet I might -- -- -- -- replacements in Major League Baseball on everything that's been you know compelling.
Done -- effective strategy in the government broadcast -- you.
-- Harris Corp.
joins us now to talk about using instant replay the military way John fill us in on what that's all about.
Now what we've been doing is helping our war fighters take the kinds of technologies that you would see in a football game.
We always described it is if you were watching a football game at home and you took away all the metadata like it's the fourth down and that's the there's -- -- to go and you know which teams are playing.
If you think about the war fighter during a situation when they're flying these formations we're only really can -- is over and we're taking.
Other technologies that we have in the broadcast industry and we're bringing context to.
The situation whenever there flying.
Adding metadata -- graphics to the video.
To improve the information in real time for the war part.
Are -- gathering this video through drones primarily -- and it comes back.
Two a basis and so it's -- and they had that for hours and hours over trying to evaluated and that's essentially you're trying to reduce that time.
Yet there really to users of this kind of material the people who are actually operating the mission and the mission is planned at a time.
Those those unmanned aerial vehicles collect.
The data out in theater and then it comes back to an operation -- typically somewhere in the U us.
What we're doing is in real time improving the situation awareness -- -- back to the users in the field.
And then at the same time we record that content and extract metadata from the stream.
Such that analysts at a later point in timer able search and retrieve.
And add information to the video feed.
And then -- -- -- produced our report for products are used what by the command in order to make decisions.
So this is -- you know basically people back home.
People out in the fields are men and women now feel they're not using this as of yet when -- are you going to start.
Deploying -- system.
-- we have begun the deployment process and we have a number of systems that are.
Being deployed around the world can't really talk about the locations -- there -- being deployed and there are operational users in the field using these technologies today -- and.
You work with the NFL obvious is very high profile.
When you -- with the united states military -- it's very high profile mean how can you.
Able to be used across a wide variety of industries.
Yes if it is very interesting what we've been doing as applicable to many different -- markets such as public safety.
So you think about the way that.
Nations are wrong and I rapper Afghanistan.
Other really becoming very close to what you would consider -- we expect mission in.
-- public safety as a political that we will deploy the technologies and to.
But we also see educational organization you know we'll take advantage of the technologies that would point as well as the medical community -- -- -- very exciting.
A growth area for her corporation.
-- I am opens with Major League Baseball and then.
Potential for instance replay in baseball alive I got asked do you think it should be there should be part of the game.
Well I think there is a place for instant replay after all the officials are over.
Human and they make mistakes that they don't ever intend to make mistakes that are game altering when the work and assist them it makes a lot of them.
John real quickly how are your contracts.
Put together with the military in any shorter term longer term deals is very stable in terms of the income -- -- -- Yes harris' very fortunate in that the large percentage of our revenue comes from the commercial side as well the you'll be community.
In Harris is also unique in that we're the only government contractor that -- the commercial broadcast division.
So we really.
Have the advantage of being able crossover technologies both from the military side of the commercial.
And a commercial side from the workers side.
-- delay director strategy government broadcast communication division at Harris Corp.
Thank you John thanks.
There very interesting technology -- -- -- -- as he was saying we're familiar with it.
In you know the NFL -- he's in the NBA and he's in the NHL as well officials -- -- look at -- -- baseball.
For certain things that you got to be very ironclad with what you're going to the view it I mean right now it's just for home runs they actually -- -- in baseball right now they use it but the only easy for home runs.
They should have an official in the Booth upstairs like they do in the NFL.
And he should is to be his call he should contact the umpires as you know -- -- electrodes.
And in the umpires ribs or something that goes off and -- 56000.
And that alerts him as to the need for replay -- -- says time and then it's solely the guy's job behind the curtain.
It's his job he says we'll -- it.
Think you need it like it by the catcher -- box on strikes even.
I know we got to go get off tangent now that you know continue to -- Little League games I think that I'm talking about and we'll talk about tomorrow.
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