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tv   After the Bell  FOX Business  August 29, 2014 4:00pm-5:01pm EDT

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maybe goes to the big screen. [closing bell ringing] >> founder of that game and president of take two are into it. this could be a fun story for a lost gamers out there. adam: lauren simonetti. thank you very much. the bells ringing for me and my gal dierdre bolton. we'll see how the day finishes up. we'll close in positive territory. the dow up roughly 19 points. s&p 500, we're back up 2,000. nasdaq is up 22 points. russell 2000 up 8 points. dierdre: all right. busy day, busy week. with a take on today and the week. we'll bring in the all-star panel. joe hider, with us, managing principal with his three stock plays. mike chadwick, chadwick financial advisors ceo. he is recommending commodities over stocks. he will tell us why.
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dan stesich joining us from the cme. dan, we start with you. a week where we saw the s&p up over 2,000. what does that mean going forward? you. >> know what is actually acting very strong, given what is going on in the ukraine. i thought for sure the market would fall back, because of incution from russia into the ukraine. which they reported hasn't happened. that is very solid. what we have to look forward to, next week is big economic week. we have two favorite figures to look at. institute of supply management, manufacturing and non-manufacturing. broad reaching. and surveys companies independently of government figures. we'll see what that brings us along with employment figures come be friday. adam: let's bring you into this. a lot of people, some say go into bond, others say out of bond. you still think u.s. treasurys are a good bet? >> well i think it is a better bet than the alternative. when you look across the globe, especially compare germany to
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the u.s. or even italy to the u.s., even after inflation adjusted, bond provide, especially 10-year note in treasurys, provide still value in a very unsafe world. so, as the money flows back into a safe haven trade, then you compare it against other sovereigns, it is hard to go away from treasurys right now, given fact there is not a whole lot of inflation supporting it and economic growth is just choppy. so, yeah, still a good trade. dierdre: so commodities, more than stocks. actually, joe, i want to bring you back in, where are your thoughts, which stocks, which sectors, are good picks at this point? >> well, we particularly like health care and energy for obvious reasons. we're having a revolution in the whole energy area, based on what's happening in the dakotas here in ohio and pennsylvania. health care, the demographics are strong and even though health care has had a pretty good run of it, i we still think it has a long way to go. on an individual stock base, we
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like stocks right now, that have low debt, high dividend yield, a couple of those would be conocophillips, that has those features. as well as philip morris and chevron. all good strong companies. dividend yields in the 4% range. we think those are good, solid stocks, for investors. adam: mike, i bet you're chomping at the bit to get in on this. i know you can't give us any stock picks. talk about commodities and why you are optimistic about russia. >> well, i'll tell you what, with commodities what i like is the valuation. as our guestother guests stated things are expensive. stocks are up. across the world things are expensive in this qe market. i'm a maverick investor. i like to go after things inexpensive. commodities for the most part are pretty cheap so i'm attracted to them. you mentioned russia. boy, valuations in russia are like we had in 2009, the depths of abyss. i wouldn't say jump in feet
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first but i they it would be a pretty good time to start accumulating securities in rush share, you suspect because of volatility that we might have hit bottom you could see a big gain once all of this gets settled? >> i don't know if we hit a bottom or knot but clearly there is volatility and political unrest. i can't put a factor on when these things end or hit bottom but i like valuations a lot. i was looking at things this morning, we've got russian multinationals trading 2 or 3 times earnings. here in america we have multinationals trade inning the hundreds. you talked about the electric company, valuations in the hundreds times earnings. that's a tough sell. dierdre: certainly is a tough sell. speaking of, kevin, i like to get back to you where treasurys go from here because there is a lot of people saying, look, the bond market has been in a bubble. other people say no way with the fed. where do you think we go? >> hard to say that bonds, especially in treasury market, that yields will fall a lot more than where they are. there are a couple of benchmarks
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that we have to prepare for. at end of october, basically qe is done. effect is hard to tell when the fed pulls out completely from buying in the marketplace. so you've got a large buyer that exits or at least goes to the sidelines. then debate as to when the fed is supposed to start tightening short-term interest rates. but the other factors, that are really driving the a lot of institutional money into the, to the treasury market in particular, is one the safe haven trade. and two, the fact that, you know, inflation is largely, you know, contained right now and, after today's spending and income numbers doesn't look like gdp will grow more than 2 1/2% in the third quarter. so, it is still is a good trade. there is maybe a 20, 30, basis points left in this trade but we just don't know how long it will go and what effects once qe is out of the way. adam: dan, you want to respond to that? dan said the looks like quarter's growth for gdp won't exceed 2.5% but you seem to
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think the economy will start firing on all cylinders. >> yes i do. >> who are we going to dan or the other guy? >> going to dan. >> okay. >> sorry. >> i think it is start to fire on all cylinders. if we look gdp, 4% from 2.4%. that is positive going to start. look at all the economic numbers we've been coming through. they have been pretty good and very, very consistently better. employment is getting better. friday will be interesting to see there. but i'm really looking for 3 to 4% growth for the next two quarters. dierdre: all right, three to 4% for next two quarters. that would be pretty healthy read, even though 4% really surprise a lot of people. getting back to commodities, mike, i'm just curious, i'm watching headlines cross here. you mentioned this appeal to safe haven trades, what is your take on gold? >> gold, i'll tell you that is is big question mark, what is going on in the world politically with all the government's printing you would think gold would be through the roof but it is not.
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that is a big question. in fact in today's world in the qe environment, i would argue there are lots of big questions. is the economy really strong, firing on all cylinders? i don't know. we've been pump a trillion a year in until recently. is it firing on all cylinders? can we see believe the labor market figures when they're pulling 3 to 400,000 people out of the figures every month. to me there is a lot of unknowns. you have to be cautious and smart. today is not time to be a hero. adam: joe you said the u.s. is leading the global recovery. we had a guest on last hour talking about deflation in europe. is that good for the united states? are we the only game in town, or is that a bad omen? >> i think it is a little of both. the fact that we're the growth engine in the world is a positive thing for us here in the u.s. but we certainly don't want europe to fall off the table. i think if deflation really occurs in europe i think you see
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the central bank of europe get more aggressive stimulating their economy. so i don't, i think that, that that's mixed bag but certainly overall i think the u.s. is positioned better than any place else. adam: jo, let me finish this discussion with this. we've got the ecb meeting next week to potentially address those concerns but as far as we're concerned we're back above 2,000 on the s&p 500. you expect by year-end we'll be up, what, 12% for the year? >> i think that's a, it is a safe number. i think that we have room to go higher. i think the gdp numbers are going to, to increase. i agree that it will be over 3%. , for the next couple quarters. adam: all right. joe, kevin, mike, we appreciate you being here. dan, we'll come back to you in the next break to see how things finish out the day. right now the fighting in ukraine is escalating and president obama says the u.s. does not have a strategy to
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fight isis in syria. coming up we go to washington, d.c. to find out what investors need to know about the dual crises as we head into the holiday weekend. dierdre: it is the toast of new york, taking recipe for success outside the big apple for the first time. ceo of dinosaur barbecue will join us. adam: we want to hear from you, hamburger prices up more than 10%. hot dog prices up almost 7% compared to last year. will rising costs of those barbecue items impact your grocery list this weekend? tweet us@fbn, after the bell. we'll bring you answers later in the program. ♪. [ male announcer ] once, there was a man
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1.8%. there is also some concerned about the inventory. they need to cut it down but you don't want to cut it down too much and have nothing left to sell during the holiday season, right? dierdre: well, certainly, lauren. as you mentioned, pre-holiday season, right? >> someone told me yesterday, deirdre, holiday shopping begins on september 30th. dierdre: that is too intense for me. >> i know. adam: do i confess i already bought a gift because there is this incredible store down the street? dierdre: you're organized. adam: it was a bargain. dierdre: everyone in my family getting gift cards. adam: that is way to do it. lauren simonetti, thank you very much. >> have a great weekend, guys. adam: s&p futures are about to close. we can't to head back to dan stesich in the pits of cme. what do you have, dan? >> we have a lot of economic data coming out next week. assume it comes out good, the wildcard in the whole situation is the russia-ukraine situation. if we see that any type of peaceful resolution that is doubtful at this point if we did
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i think this market will be off to the races. >> all right. adam: sounds good to all of us. thank you, dan. britain raises its terrorism threat level to severe as prime minister david cameron warns that isis pose as greater and diaper threat than before. dierdre: with the chances of u.s. doing the sail, weary in rich edson from the white house. rich what are you hearing? >> not quite yet at least increase in terror threat though officials are monitoring this. the british will confiscate passports as prime minister david cameron. you have 500 british nationals over fighting with isis in that region. british are taking proactive steps. the white house isn't doing that because that is far greater problem, british naggals as opposed to american nationals going over there and fighting. as tore what the u.s. is doing, this according to jeh johnson, the dhs secretary saying the department of homeland security and the fbi are unaware of any specific credible threat to the u.s. homeland from isil. plainly however violent
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extremists who support isil demonstrated the intent and capability of targeting american citizens overseas. isil constitutes a threat within the region. so the u.s. is contemplating additional security measures. as for the next steps of the united states and perhaps a military intervention or further military intervention in the middle east to combat isis, basically the administration says iraq is going to have to step up on this one because iraq's security is primarily iraq's responsibility. >> he is the commander-in-chief of the united states military and he will use that in support of iraq's security forces to accomplish some of these goals but the president is not going to become the commander-in-chief the iraqi air force. ultimately we need to have a situation where the iraqi people and iraqi government and iraq security forces take responsibility for their own security. the united states and this president is willing to devote significant resources to assist and support iraq's government and iraq's people.
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>> so for all the discussions we've been having at the white house the past couple days particularly about expanding military action in the middle east against isis or anything against the russian regime for its incursion, at least reported incursion within the ukraine yesterday we've gotten no concrete steps from the administration. the white house is pointing to meetings next week that president obama will have at the nato summit. right now president obama fund raising in new york and rhode island, coming back to the white house this evening before going to europe next week. back to you. dierdre: rich, as you mentioned, of course we have this nato meeting coming up but you and i and adam would listening to the president's speech yesterday. it seems like one thing was clear when he spoke about two tension hot spots, the middle east and ukraine and russia, that it seems as if the president is really depending on international cooperation if we do anything in either region? >> absolutely. that is very much been a theme of his administration and he will want to talk not only to the iraqis but our allies in
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europe about that. he is punting that a bit to the nato discussions next week. he will not do anything significant or significant ramping up actions in the middle east unless he consults with our allies and with congress. so the idea he said he is going to announce anything unilaterally from the white house yesterday is not true. dierdre: riff, thanks as always, rich edson joining us there from the white house. adam: this could be a game-changer in the dining business. a way to let customers figure out which restaurants have the longest wait time. next we talk to the ceo and president of the company behind a brand new app that you're going to love. dierdre: well-known name in the teen retailing sector is the requesting a whole new makeover. part after turn around to address sales slumps. details straight ahead. ♪. ♪
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adam: time for the newest olympic sport, quick speed read of some of today's stories, five stories one minute. household spending fell for the first time since july. according to aaa this labor day weekend nearly 35 million americans will travel 50 miles or more. this is largest number of travelers over the holiday weekend since 2008. teen retailer abercrombie & fitch's sales continue to flop, the company announcing plans to entirely eliminate the signature logos from its clothing by next spring. this will apply to the namesake retailer and hollis sister
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brand. apple reportedly launching a mobile payment system on iphone and upcoming iwatch. both items expected to be announced september 9th. the popular game of angry birds says the ceo will step down in january. he will replace a executive that joined rovioo's team. i will rest. dierdre: talk about that. well-done sir. it serves restaurants and has a new guest management tool called dine time. it allows diners to scan restaurants. you can find bit about waiting times and make reservations. how is it going to compete, right? that is the big question. adam: that is the big question especially since they're testing this and apparently getting ready to launch nationwide. joining us qrs automation ceo and president. thanks for joining us. you tested this this lou veil.
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when will this go nationwide? the ability to look on a app and see there will be 30-minute wait sound revolutionary? >> thanks for having me, i appreciate it. when it will go live, we have a couple of things going on. we're testing in louisville. tests are going very well. we have a couple other things going on. we have a fairly large install base of a lot of large national chains that are also kind of testings our technology behind, under some their their own branded apps as well. the louisville ses is going well. we're excited about it. we're testing it in a couple other markets with other national brands we're using as well. we're waiting for that to catch up. also this week we just announced a new version that supports online reservations very easy and simple. we also want to add that. very shortly we come out with a new version of the app in louisville that will add capabilities of launching the
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app. we'll look to expand it nationally. we don't want to -- adam: sound good. >> sorry. adam: no, no sound good. dierdre: so, lee, what i'm wondering to what extent you need people owes location data? how much of their personal data do you need to communicate with them? >> very little at awe. to set up a profile on the app all you need is a name and mobile phone number and that's really all you need. you set up the app. we use the number to verify the account's legitimate. we don't want people abusing the system. because it makes things worse. after you have that set up you start using the application and looking for wait times to get on the wait list. adam: what is terrific about this, your team is hardly newcomers to this name. the company qsr has been doing restaurant software systems well over 15 years. louisville, a great place to test it. stories onhe food there, you're a foodie town. you're taking a on a huge competitor. priceline bought open table.
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that is who you're going after. how big of a challenge is this for you? >> well, first of all we don't look at it is really directly compete. we kind of look at it as overlapping a little bit. open table, all it is very large competitor. they have 30 something thousand installs. across our install base we have 70,000 installs. that is quick service and table service but our install is pretty large, install base. our install base is predominantly national chains which are table service restaurants most which don't take reservations. we're not starting from scratch. our management product was released six or seven years ago. we're currently installed in thousands of national chains, not just in the united states but worldwide. and, so you know now they're looking to do other things like offer reservations. we added that. see the opportunity to bridge all of these and get kind of like a global platform that consumers could use all of our customers and all the chains and then like i said, be able to
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look at wait times, make a decision, get on the wait list, with very little personal intrusion. dierdre: so, lee, what happens then, how do you work with the restaurants to manage? i understand the restaurants that don't have reservation list anyway, what if somebody says okay, i will take a table and that person changes his or her mind and goes elsewhere? how do you communicate that to the restaurant? >> you can do it through the app. so once you get on the wait list, then there's a page on the app that keeps you up-to-date constantly to see where you're at in the wait list. notified at time to be seated. do it through the app sms or email. also the consumer can communicate to the restaurant if things change, party size, if you cancel they can seamlessly communicate that with the restaurant which helps the restaurant as we, so they don't have to pick up the phone to call. adam: at the end of the day would seem something like this could help drive traffic to a restaurant and also keep the restaurant in touch with their fans because beam like to go back to places they enjoy.
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do you have have any difficulty convincings restaurants that do it the old fashion way to sign up? >> the chain space we're typically working in, that is not issue. smaller mom-and-pops are independents. a lot of them have that if it isn't broke don't fix it. trying to get rid of grease pencil and notepad can be a little challenging. some are a little nervous, all of sudden people show up and end up on the wait list without actually talking to them. they have to get a little more comfortable with that and get over that. that definitely one of the challenges but consumers love and definitely something different and something new so we'll get past it. dierdre: takes a little time to adjust. he is the ceo of qsr automation. adam: thank you, lee. millions of americans will try their hand ad barbecuing this weekend but are americans divided what actually constitutes barbecue? dinosaur barbecue was voted top
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30 in the country. they will clear up all the confusion and tell us whether we can expect sticker shock when we buy our meat for brilling. -- grilling. >> you may have not realized you may have heard yanni's music while watching popular sports events. he has one of the best-selling albums of all time, right michael jackson jack's thriller. lee hawkins will be here talking about the big parts of yanni's empire. ♪ thank you daddy for defending our country. thank you for your sacrifice and thank you for your bravery. thank you colonel. thank you daddy. military families are uniquely thankful for many things, the legacy of usaa auto insurance can be one of them. if you're a current or former military member or their family, get an auto insurance quote
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dierdre: time for a look at today's market drivers. stocks finished the day higher. the dow posted its biggest monthly gain since february. all 10 s&p 500 sectors closed in the green. utilities, telecom and financials were the top performers. palladium soaring to a 13-year high. supply concerns mounting amid possible further sanctions against russia, the world's largest producer. price of the precious metal is up 25% so far this year. oil posting its first weekly gain in more than a month on speculation of an improving u.s. economy will boost fuel demand. oil closing the day higher for the fourth straight day after touching a seven-month low on monday. adam: he may not be a household name but he has seen 35 of his
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albums go platinum or gold. we're talking about new age musician yanni, whose's success is found not only in his immense talent and his unique business strategy as well. dierdre: speak of talent, lee hawkins is here, "wall street journal" celebrity business reporter. you actually spent some time with yanni, right? >> i did. i did a great interview with him. i did a yanni show is like a gospel revival. i grew up in the baptist church. i saw the parallels because the energy level is so high. dierdre: his supporters are supporters. >> yes, they are, they are like detroit fans. this guy surrounds himself with six to eight keyboards. he has almost a half of an orchestra on stage. these people are part of that concert experience which drives his success. adam: but he has been doing this pretty much on his own since the 1980s. at first nobody would give him a shot. sew built the empire, controlling the rights and his future, correct? >> yes he did. he went to pbs early in his
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career, hey, listen i want to do this tv special. he went all over the place. people said no, no, no. he shot it himself. he owned the rights. he started licensing it. and his video, his dvd, live at a crop police, ended up being the second highest dvd sold all time, second to "thriller." adam: pretty impressive. >> lee, you've been performing with the wiggles we might add i. i wish i could have found the video. i'm kidding but what is it about the music people don't know? >> you talking about the wiggles? dierdre: yeah. >> for me, i think the wiggles appeal is simple songs. kids, if you have a kid that is six years old and into the wiggles something is wrong. the idea all the way up to five, kids sipping along with the music. i'm a musician myself which is one of the reasons why i loved doing the work that do. dierdre: which brings me back to yanni and appeal of that music. i had to get wiggles thing in.
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you're here, i saw you. >> yeah. dierdre: but for kwan any, what kind of appeal? houston sports events? >> yeah. everything from the u.s. open to the olympics. he has this song called celebration of man which a lot of us have heard. we may not recognize it. but the people who really love this guy, a lot of the younger people, for instance, are getting his music online and really. adam: who is the audience? >> well it is interesting that you asked that. males 20 to 30, in the middle east. adam: okay. >> okay? that is a big part of it. dierdre: he is israeli-born, right? >> he is greek. dierdre: he is greek. >> yeah. he is big in brazil. he is big all over the world because he built this fan base, fan by fan. which is really different from the music industry today which is very recording-driven music industry. but he understands that the power of the performance is what is going to get people to continue to come to those shows. it is all about real talent which he has because he hears
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all of the instruments in his head. everything in the arrangement comes from here and then he teaches it to his musicians. adam: in the interview did he talk to you about this? >> he did. he also talked to me about taking control of his business. let's take a look. >> when we weren't making it i paid for it because nobody believed in it. they said what are you doing? going to play with some orchestra in some greek ruins and come back with instrumental music to try to sell to america? how is it going to work? everybody went, nope, we're not putting money into this. we'll not help you. you will fail and you will lose everything. and i bet all my money on it. we went there. we did it. and it was a huge success. >> i should say, that is valuable advice for all the entrepreneurs out there, to understand, if you believe in your idea, sometimes you have to put up your own capital. dierdre: no, great advice and we've heard completely separate by related note, i had a guy on who hit the kickstarter record
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with this cooler. he raised 12 milliondo large, the second round. first time through, nothing. >> unbelievable. dierdre: there you go, to your point, persistence and timing. >> business of celebrity, that's it. adam: lee hawkins, thank you very much. don't call it new age music. he gets real upset. >> he doesn't like that because he created the music and didn't have a name for it but a corporate meeting was held and they sided to do that. dierdre: we'll say yanni. adam: bingo. dierdre: thank you, lee. just like we say lee, lee hawkins. >> call me the hawk. dierdre: gotcha. there we go, lee hawkins joining us there from the "wall street journal." it was a summer of box office bombs for the most part. hollywood movie studios were hurt, receipts depressed. we'll tell you what is keeping americans out of the movie theaters and why "guardians of the galaxy" was an exception. adam: will institutional investors save the housing market? jeff flock is in a suburb of chicago with more. jeff? >> it is a suburb where a full
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20% of all of the homes purchased here have been purchased by one wall street firm. do you want to know which that is? you will have to wait through the commercial. back in just a moment. ♪ when your favorite food starts a fight fight back fast with tums. relief that neutralizes acid on contact... ...and goes to work in seconds. ♪ tum, tum tum tum tums! try great tasting tums chewy delights.
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adam: summer may be over and hollywood is likely to breathe a huge sigh of relief. variety says box office receipts
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are running 15% below last year's total, falling to the lowest level in a decade. there have been some summer hits, among them, "guardians of the galaxy," which variety says benefited from sense of humor and teenage mutant ninja turtles. variety says for the first time in 13 years, not one single summer movie cracked through the $300 million level in domestic sales. one big reason for disappointing summer, may be fact the teenagers are staying away from movie theaters. for the teenagers, lure of social media sites like facebook and twitter have been simply irresistible. checking stock of some movie making giants, viacom, time warner, they're up, walt disney, 21st century fox, well, today wasn't such a great day. blackstone group has been buying large numbers of single family homes in chicago suburbs. a new study by depaul university is trying to get and heal
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whether blackstone and other big investors is good for the residential market. dierdre: for more on the big ket we take you out to chicago, suburb of. jeff flock is there. jeff what is significant about the properties you're seeing right there? >> i think it is interesting in that these clusters have sprung up. that is what the depaul study has found. take a look at the numbers on oak forest. this is oak forest, illinois, working class chicago suburb southwest of the city. they bought 57 properties here, single family homes in 2013. another 20 this year. they own a total of 86 homes and that represents almost 20% of all the homes sold here. so it is a major concentration. it is not just blackstone. it is multiple other companies that are doing this. american homes for rent owns 22,000 homes nationwide that they are renting out as well. and depaul as ad am doesn'tpoints out there to try to determine if this is good
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thing or bad thing. i talked to the director of institute of housing studies at depaul and who says there are some concerns. >> in the short term taking advantage of low values of cheap prices of growing rental demand and of, of the likely appreciation of these properties i think it is probably a good investment in the short term. a lot of questions remain to how it plays out in the long term. >> this is an example of one of the homes here. this one, they bought, it sold, about four years ago for over $300,000. the guys at blackstone got it for about 150,000. they're renting it out now. people that live there are happy with blackstone as a renter. it represents the change in demographic and change in attitude about renting. take a look at u.s. census bureau numbers on the number of people who own the home that they live in. it peaked in 2006. that number has been declining ever since. a lot of people don't want to
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own their own home now. they feel it ties them down. they may have taken a bath during the recession. so these companies are actually capitalizing on it. if we look at individual companies doings it and year-to-date results companies like i said, american homes for rent, american residential properties, these are companies that have done really well over the course of the last several years and particularly in the last year there are double-digit returns. good news for them of the question is, what's the long term prospects? do they stay in this market? do they begin to sell them off at some point? that remains to be seen but right now looks like a good investment, guys. dierdre: jeff flock, thank you very much, joining us from that suburb of chicago. adam: thanks, jeff. take a look at this. a live shot of some of the treats many people may consider to be the best barbecue chain in the nation. next the ceo of dinosaur barbecue will tell us how he plans to take this unique menu nationwide. chicago, get ready, they're
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coming there and how to enjoy your holiday grilling. dierdre: also what happens when you deliberately crash a million dollar boo gaut i it into a salt a marsh? also why. we'll give you why and all the information in a moment. ♪ bugatti.
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dierdre: labor day weekend is hours away with your barbecue be prepared to shell out a few more bucks this year. some of your favorites such as hamburgers, chicken, and steak have seen a big price increase since last summer. adam: another thing to do so is make reservations. 9 option of going to one much america's favorite barbecue places, dinosaur barbecue for some of these, take a look, these amazing meals. joining to us discuss the growing popularity of barbecue and some tips for your home barbecue is dinosaur barbecue ceo. rene delgare. thanks for coming here. dierdre: can't focus on anything. so glad you came. adam: the lines to get in new york are tremendous but you were just voted on open table, five of the restaurants were actually voted top 30 barbecue
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in the entire nation. what is it? the seasoning? >> the time and attention we take to the food. everything we do is from scratch. done every day in the restaurant. and the fact that you know, again, to prep it every day, make it pressure every day and never have any kind of a compromise. we'll never compromise quality of our food. dierdre: adam, people who aren't local, i have been to harlem, i see the lines. they are around the block. that said you have competition. >> we do. dierdre: how are you staying ahead? >> the fact that we are fresh helps us from food quality standpoint. we do light music as well, most of the restaurants, three or four nights a week. we focus on blues, jazz, old rock 'n' roll. those are key things. compared to other concept west have full bar and full service. adam: some of the items on the menu, brisket that is not inexpensive cut of beef and with prices going up is that hitting your bottom line? >> it is. it is hittings our bottom line. that is something we look at internally. how do we focus on quality of
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the food, execute it right way and less waste. we look at purchasing standpoint to help offset that but yes, it is a major increase this year. dierdre: speak of that how is technology changing your business? i imagine you track things differently? you have to track prices. we were just speaking with somebody who has created this app which let's people know about wait times. has that changed the way that you're functioning? >> it changes the way only from the fact it really helps control our waste. so we can see how much daily basis how much product we should have sold and how much product we did lose and that helps us control what we have. adam: talk about the wait time. that is appropriate for people that love this kind of food, which is the weight we gain in time we eat. what are the tips you would have? you guys are at pros for this, but all the people who try to do it themselves over the weekend what is the key to good barbecue? >> the best thing about barbecue, you can't rush barbecue. people tend to get brisket to certain point and it get as stall and once it goes to the stall and you get past that
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temperature, and it will be ideal. adam: how long does it take. >> twelve to 14 hours. adam: to cook a brisket. >> to cook a brisket. adam: i don't make reservations. i don't get. people coming into the restaurant, barbecue, say i like dry barbecue and some people say they like a wet barbecue. what does that mean? >> dry barbecue is dry rub. they have a dry rub and add slight barbecue. a wet brisket soak with barbecue sauce. we don't soak our food because we feel quality of our product is better even without the sauce i don't we showed that map before. you're going west to chicago. the map will magically come back. there it is. where else? >> so we have a signed agreement in baltimore as well. from they're we're working our way back west, back to new york city. we want to keep knit the northeast, somewhat midwest, no further outside of chicago but you never know. dierdre: you don't want to franchise, right? >> don't want to franchise.
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keep it close to home. no reason at this point to get any further out. adam: real quick, the popularity of barbecue. it is uniquely american, is that what people love bit? every region has the own sense what is the right barbecue? >> absolutely. that one of the challenges you have with a nationwide in barbecue chain, the flavor profile in different markets is different. adam: what is your favorite? >> my favorite is the ribs. absolutely. adam: because of the pepper. >> sugar rub and salt and pepper. tinder enough to pull off the bone but not fall enough off the bone with 10 tender marin made. dierdre: that was nice to live that. adam: if people don't see you eat it you won't get in the way. >> especially labor day weekend. adam: continued success at dinosaur barbecue. >> thank you. dierdre: many people are going to the beach this weekend but one englishtown they will serve for buried treasure.
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we'll tell you what that is about. adam: sounded like a insurance scam, a million dollar bugatti driven into saltwater. it didn't turn out quite as planned and we'll tell you why. ♪
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it can bring out the worst in people. but the m-class scans for danger, corrects for lane drifting, and if necessary, it will even brake all by itself. it is a luxury suv engineered to get you there and back safely. for tomorrow is another fight. the 2015 m-class. see your authorized dealer for exceptional offers through mercedes-benz financial services. when folks think about wthey think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs.
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advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america. adam: let's go "off the desk." beach treasure hunters are flock tock a southeast beach in england after a german artist buried 30 gold bars in the sand. gold bars are worth total of 17,000 bucks. the artist buried the gold as part of an upcoming art festival. the curator of festival, what are you doing? that anyone will be allowed to keep any of the 24-carat bars if they find one. >> also off the deck, a u.s. driver crashed his $1 million bugatti into a swamp.
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oh, my goodness. there is the video. adam: why? why? >> here is the why. the driver claims he crashed the car to avoid a pelican, not so sure that sound a little dodgy to me. hoping to cash in, this is your why, adam on the $2 million insurance policy. turns out there was no pelican. i sort of guessed that. a passing motorist caught the whole thing on video. driver now facing up to 20 years in prison for -- adam: damaging a bugatti, that alone is a crime. >> i think attempting to commit insurance fraud but there you go. adam: db. damaging abu gaut at this. we asked you on, what prices affect your food pricing. nick said he wasn't planning on buying food. nick must be going to somebody else's house this labor day. >> mike on facebook saying meat prices are way too high along
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with other stuff. so there you go. adam: top two things to watch next week, number two is the august ism non-manufacturing index set to be released on tuesday, 10:00 a.m. eastern. the read something expected to drop to 56.9 from 57.1 in july. >> the number one thing to watch next week, august jobs. that comes out on friday, 8:30 a.m. eastern time. economists are expecting non-farm payrolls to rise by 220,000. the unemployment rate is forecast to tick down a 10th to 6.1%. adam: real quick, just reminder we did close above 2,000 again on s&p 500. we'll start a whole new week of trading. liz claman back with the regular gang. david asman is back. >> with the markets it is worth noting, we know traders and technical analysts don't necessarily care about the 2000 mark but it was key psychological sentimental mark. adam: volume was kind of light. big things pick up next week.
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ecb meeting on the fourth. employment numbers on that friday. >> everybody officially back from summer vacation. so it is work, work, for the last quarter. adam: have a great labor day. "willis report is next. gerri: hello, everybody, i'm gerri willis. coming up today on the show, nearly 30 million americans are hitting the road this weekend. so what should you expect to find at the pump? also are you sick of the superheros that is or just sick of doling out the cash? why movie-goers are staying home. a look at innovative new ways one entrepreneur is teeing up new generation of golfers. the 19th hole gets a makeover. "the willis report" where consumers are our business starts right now gerri: we begin tonight with a serious topic. more than 1/3 of the country on the dull. newly-released data from the census bureau reveal 110 million americans are receiving some kind of government

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